HomeMy WebLinkAbout8454RESOLUTION NO. 8454
A RESOLUTION APPROVING A CONTRACT TO BUY AND
SELL REAL ESTATE BETWEEN PUEBLO, A MUNICIPAL
CORPORATION AND THE SOUTHEASTERN COLORADO
WATER CONSERVANCY DISTRICT RELATING TO LAND AT
THE PUEBLO MEMORIAL AIRPORT INDUSTRIAL PARK AND
AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO
EXECUTE IN THE NAME OF THE CITY THE CONTRACT TO
BUY AND SELL REAL ESTATE AND WARRANTY DEED
CONVEYING SUCH LAND
WHEREAS, the Southeastern Colorado Water Conservancy District has expressed a desire
to purchase land at the Pueblo Memorial Airport Industrial Park, and
WHEREAS, the land is surplus to the needs of the City, and
WHEREAS, the City is willing to sell the land to the Southeastern Colorado Water
Conservancy District. NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Contract To Buy And Sell Real Estate dated July 13, 1998 between Pueblo, a Municipal
Corporation and the Southeastern Colorado Water Conservancy District and attached Warranty Deed
relating to land at the Pueblo Memorial Airport Industrial Park, copies of which are attached hereto,
having been approved as to form by the City Attorney, are hereby approved.
SECTION 2
The President of the City Council is authorized to execute and deliver the Contract To Buy
And Sell Real Estate and attached Warranty Deed in the name of the City and the City Clerk is
directed to affix the seal of the City thereto and attest same.
SECTION 3
In the event the City Council changes its policy to restrict the use of land at Pueblo Memorial
Airport Industrial Park for primary jobs and manufacturing purposes, the City Council will upon
request of the Southeastern Colorado Water Conservancy District, reconsider the Restrictive
Covenants contained in paragraph 4(a) and (k) of the Warranty Deed and modify said Restrictive
Covenants to conform with any such changed policy.
ATTEST:
City Cl
INTRODUCED: July 13, 1998
By Corinne Koehler
Councilperson
APPROVED:
President of th City Council
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JULY 13, 1998 AGENDA - CITY COUNCIL BACKGROUND
MEMORANDUM - RESOLUTION APPROVING A CONTRACT
TO BUY AND SELL REAL ESTATE AT THE PUEBLO
MEMORIAL AIRPORT INDUSTRIAL PARK TO THE SOUTH-
EASTERN COLORADO WATER CONSERVANCY DISTRICT
The attached Resolution approves a Contract To Buy And Sell Real Estate located at the
Pueblo Memorial Airport Industrial Park to the Southeastern Colorado Water Conservancy District
for the appraised market value of $20,000. The land consists of 1.80 acres more or less and is located
on United Avenue. The District may use the land for office purposes excluding office use by any
person or entity who provides services or facility to any company or business or their employees
located at the Pueblo Memorial Airport Industrial Park. The District is similarly limited from leasing
or subletting their building to any such person or entity, but may lease or sublet to a local, federal or
state agency whose services are directly or indirectly related to District's operations and business
without the prior consent of the City.
The land is being conveyed "AS IS" and "WHERE IS" without any representation or warranty
by the City as to the quality, quantity or condition of the land, either environmental or otherwise. The
sale is contingent upon the District closing the sale for its current facility on or before December 1,
1998 or an extended period not to exceed 60 days. The District must complete its 6,000 square foot
building within 2 years after the date of closing. City is granted the right of first refusal to purchase
the land and District's improvement if District desires to sell same pursuant to a good faith transaction
at the same terms, price and conditions thereof
CONTRACT TO BUY AND SELL REAL ESTATE
This Contract entered into as of July 13, 1998 between Pueblo, a Municipal Corporation
( "City ") and Southeastern Colorado Water Conservancy District, a water conservancy district
organized and existing under the laws of the State of Colorado ( "District "), Witnesseth:
In consideration of the mutual covenants herein contained, City and District agree as follows:
1. Parties and Property District will buy, and City will sell on the terms and conditions
set forth in this Contract, the following described, unimproved real property located in the County
of Pueblo, State of Colorado, to -wit:
Lot 36, Pueblo Memorial Airport Industrial Park (the "Property ")
2. Purchase Price The purchase price shall be $20,000.00 payable by District to City
in full at closing.
3. Closing Costs City and District will pay their respective closing costs and sign and
complete all customary or required documents on or before closing. Fees for real estate closing
services shall not exceed $150.00 and shall be paid at closing, one -half by City and one -half by
District.
4. Title Insurance City will furnish to District at City's expense, a current commitment
of owner's title insurance policy in an amount equal to the purchase price on or before September 1,
1998 ( "Commitment "). City will pay the premium at closing and have the title insurance policy
delivered to District as soon as practicable after closing.
5. Title Written notice of unmerchantability of title or any unsatisfactory title conditions
shown by the Commitment shall be given to City on or before thirty (30) days after District's receipt
of the Commitment. If City does not receive District's notice within said thirty -day period, District
accepts the conditions of title as disclosed by the Commitment as satisfactory. If City receives notice
of unmerchantability of title or other unsatisfactory title conditions, City shall use reasonable effort
to correct the unsatisfactory title condition on or before closing. If City fails for any reason to correct
the unsatisfactory title condition before the date of closing, this Contract shall terminate, and each
party shall be released from all obligations hereunder, provided however, District may, by written
notice received by City, on or before thirty days prior to closing, waive objection to any
unsatisfactory title conditions.
6. Inspection District or its designee shall have the right to have inspection of the
physical condition of the Property at District's expense. If written notice of any unsatisfactory
condition is not received by City within 60 days after receipt of the Commitment by District, the
physical condition of the Property shall be deemed satisfactory to District. If such notice is timely
received by City, and City and District have not agreed, in writing, to a settlement thereof before the
date of closing, this Contract shall terminate, and each party shall be released from all obligations
hereunder, provided, however, District may, by written notice received by City on or before thirty
days prior to closing, waive objection to any unsatisfactory condition. District is responsible for and
shall pay any damage which occurs to the Property as a result of such inspection.
7. Date of Closing The date of closing shall be December 1, 1998, or by mutual
agreement at an earlier date. The hour and place of closing shall be designated by City. District shall
have the right to extend the date of closing by 60 days or less, upon written notice given to City on
or before November 30, 1998.
8. Transfer of Title Subject to payment at closing as required herein and compliance
by District with the other terms and provisions hereof, City will execute and deliver the Warranty
Deed attached hereto conveying title to the Property free and clear of all liens and taxes except
general taxes for 1998, subject to all easements, restrictions, covenants, conditions and reservations
of record, apparent easements, burdens incident to the Property's inclusion within any governmental
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entity, and building and zoning regulations.
9. Possession Possession of the Property shall be delivered to District on closing.
10. Time of Essence and Remedies Time is of the essence hereof. If any obligation
hereunder is not performed or waived as herein provided, or if this Contract is not terminated
pursuant to its terms, the non - defaulting party may elect to treat this Contract as canceled, or elect
to treat this Contract as being in full force and effect and have the right to specific performance or
damages, or both. In the event of any litigation arising our of this Contract, the court shall award the
prevailing party all reasonable costs and expenses, including attorney fees.
11. Additional Provisions
11.1. This Contract and City's obligations hereunder are contingent upon approval
of this Contract by the City Council of City and such approval will be diligently pursued.
11.2. This Contract and District's obligations hereunder are contingent upon
District's sale of its present facilities located at 905 Highway 50 West, Pueblo, Colorado, 81008, on
or before the date of closing.
11.3. The Property is being sold and purchased "AS IS" and "WHERE IS" without
any representation or warranty by City as to the quality, quantity, or condition of the Property, either
environmental or otherwise, except as otherwise specifically provided in this Agreement and in the
Warranty Deed.
11.4. The construction of District's facility on the Property and transfer and
conveyance of the Property are subject to the prior approval of the Federal Aviation Administration
(the "FAA") and its issuance of all necessary permits and Deed of Release. Upon execution of this
Contract and receipt from District of the necessary plans and description of the facility, City will file
all required applications for FAA's approval, permits and Deed of Release and will diligently pursue
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their issuance.
12. Notices All notices which may be given hereunder shall be effective:
(a) as to City, when received by Thomas E. Jagger, City Attorney, 127 Thatcher
Building, Pueblo, Colorado, 81003, and
(b) as to District, when received by Steve Arveschoug, General Manager,
Southeastern Colorado Water Conservancy District, 905 Highway 50 West,
Pueblo, Colorado, 81008.
13. Amendments No subsequent amendment or modification of the terms of this
Contract shall be valid, binding on the parties, or enforceable unless made in writing signed by the
parties.
14. Entire Agreement This Contract constitutes the entire agreement between the
parties relating to the subject matter hereof, and any prior agreement pertaining thereto, whether oral
or written, have been merged and integrated into this Contract.
15. Binding Ems This Contract shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and assigns, provided, however, that District may not
assign this Contract.
Signed as of the day and year first above written.
Southeastern Colorado Water
Conservancy District
Tit,
Pueblo, a Municipal Corporation
By C{ .
Title: t
W
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A: �PUEBl.O r4 COUNTY
WARRANTY DEED
the City of
THIS DEED, made this 15rh day of July, 1999 by and betweeWPueblo, a Municipal
Corporation (herein "City ") and Southeastern Colorado Water Conservancy District, a water
conservancy district, organized and existing under the laws of the state of Colorado (herein
"Company "), WITNESSETH:
That City for and in consideration of the sum of $10.00 and other good and valuable
consideration to City in hand paid by the Company, the receipt whereof is hereby confessed and
acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain,
sell, convey and confirm unto the Company, its successors and assigns forever, all the real property
situate, lying and being at Pueblo Memorial Airport, County of Pueblo, State of Colorado, more
particularly described in as Lot 36, Pueblo Memorial Airport Industrial Park Subdivision (herein
"Property), with all its appurtenances, and warrant the title to the same, subject to easements, rights
of way, conditions, restrictions and reservations of record and easements for existing utilities,
sanitary sewer, water, irrigation and natural gas lines on, over or under the Property and to the
following covenants, conditions, and restrictions which are and shall be construed to be covenants
running with the land described herein and binding upon the Company, its successors and assigns
and inuring to the benefit of the City, its successors and assigns.
4 1. City reserves unto itself and its successors and assigns, for the use and benefit of the
public, a right of flight for the passage of aircraft in the airspace above the surface of the Property,
together with the right to cause in the airspace above the surface of the Property such noise as be
inherent in the operation of any aircraft now known or hereafter used for navigation of or flight in
said airspace, and for use of the airspace above the surface of the Property for landing on, taking off
from, or operation on or over the Pueblo Memorial Airport.
2. Company expressly agrees for itself, its successors and assigns to restrict the height
of structures, objects of natural growth and other obstructions on the Property, to a height of not
more than 4,700 feet above the mean sea level. In the event this covenant is breached, City reserves
the right to enter upon the Property and at the expense of the Company to remove the offending
structure or object and to cut the offending growth.
3. Company expressly agrees for itself, its successors and assigns, that it will prevent
any use of the Property which would interfere with landing or taking off of aircraft at the Pueblo
Memorial Airport, or otherwise constitute an airport hazard.
4. The Property and its use are further subject to the following Restrictive Covenants:
(a) The Property may be used only for manufacturing purposes, or at the option
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of Company, for office purposes, excluding, however, office use by any person or entity who
provides services or facilities to any company or business or their employees located in the Pueblo
Memorial Airport Industrial Park. The Property shall not be used for smelting or plating operations,
or for the storage or processing of putrescible materials, or for any purpose or business which
constitutes a nuisance, or which exceeds the state air pollution control standards for the facility on
the Property. Gasoline or diesel fuel used in connection with the business conducted on the Property
but not for sale at retail or wholesale may be stored on the Property in an environmentally sound
manner.
(b) Outdoor storage shall not be permitted except for storage of equipment,
chemicals, liquids and other materials generated in or used in the Facility, to include but not be
limited to such storage in above - ground tanks or vessels, in compliance with applicable
environmental laws.
(c) The Property shall not be subdivided and no building or structure over sixty
(60) feet in height shall be installed or constructed on the Property.
(d) No structure or building shall be constructed or installed nearer than sixty -five
(65) feet of the right of way line of United Avenue, or twenty -five (25) feet of the right of way line
of any other abutting streets. There must be installed and maintained a minimum thirty-five (35)
foot strip of living landscaped ground along and adjacent to United Avenue, and twenty -five (25)
feet adjacent to other abutting streets. Minimum side yards set -backs shall be twenty -five (25) feet.
(e) Company shall keep and maintain the Property and all buildings, landscaping
and improvements located thereon in a good, clean, safe and orderly condition free of waste, rubbish,
debris and trash, and enclose and screen from public view all outside storage and unsightly areas of
the Property.
(f) Company shall comply with notifications and review requirements of the
Federal Aviation Administration prior to the construction, modification or alteration of any building
or structure on the Property.
(g) Company shall, at its own expense, cause all utilities and roads used or to be
used on the Property to be extended from adjacent streets, installed on the Property, and kept and
maintained in good order and condition. Parking areas for vehicles and roads on the Property shall
be paved.
(h) Company shall pay to City a combined service fee for services and facilities
now furnished by City at the Pueblo Memorial Airport, namely: public street maintenance, fire
protection, and street lighting based upon $295.00 per acre per annum payable monthly for each acre
of land conveyed to Company hereunder. City may, from time to time, reduce or eliminate any or
all of the services or facilities presently being furnished and may modify, increase, or decrease the
annual combined service fee provided (i) such services and fee shall be non - discriminatory among
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other owners of land at Pueblo Memorial Airport receiving such services and facilities, and (ii) such
fee shall be reasonable in relation to City's actual cost and expense of furnishing the services and
facilities then being furnished. City's cost may include the cost of capital improvements amortized
over the useful life of the improvements. If waste water discharged from the Property is transported
to and treated at City's waste water treatment facilities, Company and the waste water so transported
and treated are subject to the same restrictions, limitations, conditions, fees, and charges as other
users of City's sanitary sewer system and facilities.
(i) Company shall provide for storm water drainage which shall include the
construction and installation of storm water detention facilities on the Property. The detention
facility shall be capable of storing the developed on -site runoff from a 100 -year frequency storm.
The maximum release rate from the detention facility at the ponding depth corresponding to the 100 -
year volume shall be .30 cfs /acre and 1.00 cfs /acre for the 100 -year ponding depth. All calculations
and details shall conform with the City of Pueblo Storm Drainage Criteria Manual. The point of
discharge from the detention facility shall be at a location approved by the Director of Public Works.
0) Before commencing the construction, installation or alteration of any building,
structure, parking facility, outdoor sign, or other permanent improvement, or landscaping on the
Property, the Company shall submit to and have approved by the City in writing the site plans and
plans and specifications therefor. City's approval will not be unreasonably withheld. In the event
the City or its designated representatives shall fail to approve or disapprove such plans and
specifications within twenty-five (25) working days after they have been submitted to the City, such
approval will not be required and this covenant will be deemed to have been complied with.
Company shall use its best efforts to assure that all buildings constructed on the Property will be
architecturally and aesthetically compatible with buildings constructed at the Pueblo Memorial
Airport Industrial Park since 1985. All buildings, improvements and activities on the Property shall
be constructed and conducted in compliance with all applicable federal, state and local law,
regulations, and codes.
(k) Company shall not lease or sublet the Property to any person or entity without
the prior written consent of the City, which consent will not be unreasonably withheld, provided,
however, that the City may arbitrarily withhold consent if the lessee or sublessee is a person or entity
who provides services or facilities to any company or business or their employees located in the
Pueblo Memorial Airport Industrial Park. Notwithstanding the foregoing, City consents to Company
leasing or subletting the Property to a local, state or federal agency whose services are directly or
indirectly related to the Company's operations and business.
(1) City reserves the right to waive all or any part of these Restrictive Covenants.
5. This Warranty Deed and conveyance of the Property to Company are made upon the
express condition that Company will construct on the Property an approximately 6,000 square foot
office facility (the "Facility ") within two (2) years after the date of this Warranty Deed. If Company
does not substantially construct and equip the Facility on the Property within two (2) years after the
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date of this Warranty Deed, City will have the right of re -entry for nonperformance of this condition
and will be entitled to a reconveyance of the Property and delivery of exclusive possession thereto
upon repayment to Company of the purchase price paid to City by Company for the Property. In that
event, Company's reconveyance and delivery of exclusive possession to City of the Property will be
conveyed by Special Warranty Deed and will be free and clear of all claims, liens and encumbrances
which would be enforceable against the Property and which are attributable to the acts or omissions
of Company or those claiming through Company. The two (2) year period specified above may be
extended by instrument duly executed and acknowledged by Company and City and recorded in the
records of the Pueblo County Clerk and Recorder.
6. City is hereby granted the right of first refusal to purchase the Property upon the same
terms and conditions as Company is willing to sell the Property in a good faith transaction to a third
party ( "Third Parry Sale "). City shall within thirty (30) days after receipt of written notice from
Company of a Third Party Sale, deliver to Company its written agreement to purchase the Property
upon the same terms and conditions contained in Company's notice of Third Party Sale ( "City's
Agreement ") and the purchase by City shall close within thirty (30) days after Company's receipt of
City's Agreement. If City fails to deliver City's Agreement to Company within said 30 -day period
after receipt of Company's notice of Third Party Sale, City's right of first refusal hereby granted with
respect to such Third Party Sale shall expire and terminate.
7. At the request of City, Company shall meet and in good faith confer with City
concerning the annexation of the Property to the City when the Pueblo Memorial Airport, or any part
thereof, including without limitation, the Property becomes eligible for annexation.
S. Invalidation of any one of the foregoing covenants, conditions, restrictions or
reservations by judgment or court order or otherwise shall not affect any of the other of said
covenants, reservations, restrictions or conditions which shall remain in full force and effect.
9. City shall have the right to enforce the restrictions, covenants and conditions hereof
by injunction or other lawful procedure and to recover damages, costs, expenses, including
reasonable attorney fees, resulting from any violation thereof or arising out of their enforcement.
[S E A L]
ATTEST:
Title: Secretary
rh� � n
SOUTHEASTERN COLORADO WATER
C CY DIST T
Title: President
THE CITY OF
PUEBLO, A MUNICIPAL CORPORATION
� rf �' 1 �•
B y
CityyP S
Pueblo )
ss.
STATE OF Colorado )
�-L C Get, 1 (�
of the City Council
The foregoing instrument was acknowledged before me this 15th day of July, 1999 by
Ralph Adkins as President and
Glenn E. Everett as Secretary of Southeastern
Colorado Water Conservancy District.
Witness my hand and official seal.
ssion expires: 11/8/2002
' s t'k t
, -
" OF PUEBLO )
) ss.
STATE OF COLORADO )
T�bt ary Public
The foregoing instrument was acknowledged before me this jft:�h day of July, 1999 by
Orinre— �r � as President of the City Council and �;ha L)
Clerk as City
Clerk of��5ltor�d�o, a Municipal Corporation.
my hand and official seal.
>'. My Omission expires:
;# - y'. � ;NOTARY • ��,
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F: \FILES \CITY\AIRPOR'nSE - WATER \W DEED. WPD - C
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127 Thctchcr Building
I�11?�IUI�ANI)l I(\I PUEBLO, COLORADO 01003
TO: Billy Martin, Director of Finance
FROM: City Attorney
RE: Sale of Land to Southeastern Colorado
Water Conservancy District ( "SECWCD ")
DATE: July 30, 1999
The City on July 30, 1999 closed the sale of Lot 36, Pueblo Memorial Airport Industrial Park
Subdivision to SECWCD for a purchase price of $20,000 as authorized by City Council
Resolution adopted July 13, 1998. We enclose the following:
(a) Transnation Title Insurance Company's check No. 217958 payable to the City in
the amount of $19,634.00.
(b) Copies of Seller's Closing Statement, Buyer's Closing Statement, Real Estate Tax
Agreement and Closing Instructions.
If you have any questions, please call me.
Very truly yours,
Thomas E. Jagger
sm
enc.
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
(719) 543-0451
Escrow Officer: BONNIE OLIVIERI
SR. ESCROW OFFICER
Title No. : 7569869
Date : July 30, 1999
BUYER'S CLOSING STATEMENT
Buyer(s): SOUTHEASTERN COLORADO WATER CONSERVANCY
DISTRICT
Property: Vacant Ground
Pueblo, Colorado 81006
Lot 36, Pueblo Memorial Airport Industri
Industrial Park Subdivision
Seller(s): THE CITY OF PUEBLO, a Municipal
Corporation
DEBIT CREDIT
Contract Sales Price ..................................... ............................... $20,000.00
PRORATIONS '
LENDER CHARGES:
RESERVES
TITLE CHARGES
REAL ESTATE CLOSING FEE ................................... ............................... 50.00
TAX CERT. & ASSESSORS FEE ................................. ............................... 15.00
RECORDING FEES, TRANSFER TAXES
WarrantyDeed ............................................ ............................... 25.00
DOCUMENTARY FEE ........................................... ............................... 2.00
ADDITIONAL CHARGES
RECEIPT DUE FROM BUYER
* * * ** SUB TOTAL 20,092.00
20,092.00
$20,092.00
The above figures do not include sales or use taxes on personal property.
THE ABOVE DEDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
SOUTHEASTERN COLORADO WATER CONSERVANCY
DISTRICT
R LPH 41. ADKINS, PRESIDENT
Broker
By:
Transnation Title Insurance Company
By: BONNIE OLIVIERI
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
(719) 543 -0451
Escrow Officer : BONNIE OLIVIERI
SR. ESCROW OFFICER
Title No. : 7569869
Date : July 30, 1999
SELLER'S CLOSING STATEMENT
Sellers) : THE CITY OF PUEBLO, a Municipal
Corporation
Property: Vacant Ground
Pueblo, Colorado 81006
Lot 36, Pueblo Memorial Airport Industri
Industrial Park Subdivision
Buyer(s) : SOUTHEASTERN COLORADO WATER CONSERVANCY
DISTRICT
Contract Price ..................................... ...............................
PAYOFF
PRORATIONS
LENDER CHARGES:
RESERVES
TITLE CHARGES
REAL ESTATE CLOSING FEE ................................... ...............................
OWNERS TITLE INSURANCE PREMIUM ............................ ...............................
RECORDING FEES, TRANSFER TAXES
ADDITIONAL CHARGES
DEBIT CREDIT
$20,000.00
50.00
316.00
* * * ** SUB TOTAL 366.00 20,000.00
PROCEEDS DUE SELLER 19,634.00
$20,000.00 $20,000.00
The above figures do not include sales or use taxes on personal property.
THE ABOVE DEDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
THE CITY OF PUEBLO, a Municipal
Corporation
BY___ /� /
THOMAS E. JAGv ITY ATTORNEY
Broker
By:
Transnation Title Insurance Company
By: BONNIE OLIVIERI
TRANSNATION TITLE INSURANCE COMPANY
A Reliance Group Holdings Company
C L O S I N G I N S T R U C T I O N S
THIS IS A LEGAL INSTRUMENT, IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
To: TRANSNATION TITLE
INSURANCE COMPANY
RE: Vacant Ground
Pueblo, Colorado 81006
1. THE CITY OF PUEBLO, a Municipal Corporation (SELLER) and SOUTHEASTERN COLORADO WATER CONSERVANCY DISTRICT
(PURCHASER) engage TRANSNATION TITLE INSURANCE CO. (CLOSING AGENT), who agrees to provide closing and settlement services in
connection with the closing of the following described real estate in the County of Pueblo and State of Colorado, to wit:
Lot 36, Pueblo Memorial Airport Industri
Industrial Park Subdivision
also known as: Vacant Ground, Pueblo, Colorado 81006
2. Closing Agent is authorized to obtain information and agrees to prepare, obtain deliver and record all documents,
excluding preparation of legal documents, necessary to carry out the terms and conditions of the contract to buy and sell real
estate, dated July 13, 1998, with ALL amendments and counterproposals attached (Contract), and made part of this document.
3. Legal documents will be prepared by Attorney for the Buyer at the expense of n /a.
4. Closing Agent will receive a fee not to exceed $100.00 for providing these closing and settlement services to be the
expense of,Buyer & Seller equally.
5. Closing Agent is authorized to receive funds and to disburse funds when alt funds received are either:available for
immediate withdrawal as a matter of right from the financial institution in which the funds have been deposited or are
available for immediate withdrawal as a consequence of an agreement of financial institution in which the funds are to be
deposited or a financial institution upon which the funds are to be drawn( "Good Funds').
6. Closing Agent is not authorized to release any documents or things of value prior to receipt bnd disbursement of Good
Funds, except as provided in paragraphs 12 and 13.
7. Closing Agent shall disburse all funds in closing except those funds as may be separately disclosed in writing to
Purchaser and Seller by Closing Agent or Agent or Purchaser's lender on or before closing.
8. Setter will receive the net proceeds of closing as indicated: Ex) Closing Agent's Trust Account Check, E ) Cashier's
Check at Seller's expense, E ) Funds electronically transferred (wire transfer) to an account specified by the Seller, at
Seller's expense.
9. Purchaser and Seller will furnish any additional information and documents required by Closing Agent which will be
necessary to complete this transaction, and Purchaser and Seller further agrees to sign and complete all and customary
required documents at closing to fulfill the Contract.
10. Closing Agent will prepare and deliver an accurate, complete and detailed closing statement to Purchaser and Seller
at time of closing.
11. If requested by Closing Agent, earnest money deposit will be delivered to Closing Agent in sufficient time before
closing to disburse Good Funds.
12. The Closing Agent is to comply with the instructions of the Purchaser's Lender regarding the payment of all real
property taxes and special assessments, despite any provision in these printed Closing Instructions or the Sale and Purchase
Agreement to the contrary. The parties agree to, and do hereby, hold Closing Agent and the title insurance company harmless
regarding said real property taxes and special assessments paid or to be paid by others.
13. If closing does not occur, Closing Agent, except as provided herein, is authorized and agrees to return all
documents, monies, and things of value to the depositing party and Closing Agent will be relieved from any further duty,
responsibility or liability in connection with these instructions. In addition, any promissory note, deed of trust, or other
evidence of indebtedness signed by Purchaser, shall be voided by Closing Agent, with the original(s) returned to Purchaser and
copy to Purchaser's lender.
14. If any conflicting demands are made on the Closing Agent, at its sole discretion Closing Agent may hold any monies,
documents, and things of value received from any party except Purchaser's lender, Closing Agent shall retain such items until
(1) receipt of mutual written instruction from Purchaser and Seller; or (2) until a civil action between Purchaser and Seller
shall have been finally concluded in a Court of competent jurisdiction; or (3) in the alternative, Closing Agent may, in its
sole discretion, commence a civil action to interptead, or interptead in any existing civil action, any documents, monies or
other things of value received by Closing Agent. Such deposit with the Court shall relieve Closing Agent of all further
liability and responsibility and Closing Agent shall be entitled to all court costs and reasonable attorneys' fees.
15. These closing instructions may only be amended or terminated by written instructions signed by Purchaser, Setter and
Closing Agent.
16. Special Instructions:
APPROVED AND ACCEPTED
Sellers)
Purchaser(s)
Closing Agent
THE CITY OF PUEBLO, a Municipal SOUTHEASTERN COLORADO WATER CONSERVANCY By: BONNIE OLIVIERI 07/30/99
Corporation DISTRICT
BY
THOMAS E. JAGGE ' Y A TORNEY RAL H ADKINS, PRESIDENT
REAL ESTATE TAX AGREEMENT
Escrow No.: 7569869
It is hereby understood and agreed between the purchaser(s) and seller(s) of property
known as: Vacant Ground
Pueblo, Colorado 81006
that taxes for the current year have been adjusted as of this date as follows:
BASIS FOR PRORATION
NO PRORATIONS. Current owner is tax exempt.
AGREEMENT FOR READJUSTMENT
The above tax proration is considered to be final settlement.
ASSESSMENTS
It is further understood and agreed between the purchasers and the sellers that:
Special improvements now in are paid in full.
OTHER THAN TAX INFORMATION DISCLOSED ON THE CERTIFICATE OF TAXES DUE, THE INFORMATION
ABOVE WAS OBTAINED BY TELEPHONE FROM THE COUNTY ASSESSOR'S /TREASURER'S OFFICE AND /OR
APPROPRIATE CITY AUTHORITY. WE ACKNOWLEDGE THAT TRANSNATION TITLE INSURANCE COMPANY
SHALL NOT BE RESPONSIBLE FOR ANY READJUSTMENT OF TAXES AFTER CLOSING. WE HEREBY
RELEASE TRANSNATION TITLE INSURANCE COMPANY FROM ANY AND ALL LIABILITY FOR THE
ACCURACY OF THE VERBAL OR WRITTEN INFORMATION RECEIVED.
APPROVED AND ACCEPTED:
Purchaser(s)
SOUTHEASTERN COLORADO WATER CONSERVANCY
DISTRICT
B
LP W. ADKINS, PRESIDENT
Seller(s)
THE CITY OF PUEBLO, a Municipal
Corporation
B Y
HOMAS E. ER, CITY ATTORNEY
This agreement executed this 30TH day of JULY, 1999.
ESCROW NO.: 7569869