HomeMy WebLinkAbout09180RESOLUTION NO. 9180
A RESOLUTION CONSENTING TO THE APPROVAL OF A
RESOLUTION OF THE URBAN RENEWAL AUTHORITY OF
PUEBLO, COLORADO TO BUY AND SELL REAL ESTATE
LOCATED AT 209 SOUTH SANTA FE AVENUE
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
q'PrTION T
The City Council of Pueblo hereby consents to the approval of the resolution by the Urban
Renewal Authority of Pueblo passed on December 12, 2000, approving the purchase of property
located at 209 South Santa Fe Avenue per the attached Contract to Buy and Sell Real Estate.
SECTION 2.
The President of the City Council is hereby authorized to approve the adoption of the
resolution.
ATTEST:
Cit Jerk
INTRODUCED: December 26, 2000
By: Al Gurule
Councilperson
OVED:
President of the City Council
S a s
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # (
DATE: December 26, 2000
DEPARTMENT: HOUSING AND COMMUNITY DEVELOPMENT
TITLE
ISSUE
A RESOLUTION CONSENTING TO THE APPROVAL OF A
RESOLUTION OF THE URBAN RENEWAL AUTHORITY OF
PUEBLO, COLORADO TO BUY AND SELL REAL ESTATE
LOCATED AT 209 SOUTH SANTA FE AVENUE
Approval of the resolution approved by the Pueblo Urban Renewal Authority for the purchase of
property located at 209 South Santa Fe Avenue.
RECOMMENDATION
Approve the attached resolution and contract to buy and sell real estate that was approved at the
URA meeting held on December 12, 2000.
BACKGROUND
The Pueblo Urban Renewal Authority of Pueblo, Colorado, is carrying out the Urban Renewal Plan
for Downtown Pueblo and pursuant to future expansion the purchase of the property has been
determined to be for the betterment of the area.
FINANCIAL IMPACT
The total purchase price will be $89,000
RESOLUTION NO. 2000-11
A RESOLUTION OF THE BOARD OF COMMISSIONS OF THE
URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO
APPROVING A CONTRACT FOR THE PURCHASE OF 209
SOUTH SANTA FE AVENUE, PUEBLO, COLORADO, AND
AUTHORIZING THE CHAIRMAN OF THE BOARD OF
COMMISSIONERS TO EXECUTE SAME
1,
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE URBAN
RENEWAL AUTHORITY OF PUEBLO, COLORADO, that:
SECTION 1.
The Contract To Buy And Sell Real Estate (Commercial) ("Contract ") dated December 12,
2000 between the Urban Renewal Authority of Pueblo, Colorado, as Buyer, and Frank Bartolo and
Charles Hunsaker, as Seller, a copy of which is attached hereto, is hereby approved. The Chairman
of the Board of Commissioners is authorized to execute and deliver the Contract in the name of the
Urban Renewal Authority of Pueblo, Colorado, and to approve and execute modifications thereto.
Adopted and approved December 12, 2000.
ATTEST: %
{ 7 /i
Secretary /f the Board of C
URBAN RENEWAL AUTHORITY OF
PUEBLO,COLORADO
BY - - -.i ,; �• - . j , ._�.,
Chairman of the Board of Commissioners
D U ED O
F—�, ED
City of Pueblo
OFFICE OF THE CITY ATTORNEY
127 Thatcher Building
MEMORANDUM PUEBLO, COLORADO 81003
TO: Joseph A. Fortino, Chairman
Board of Commissioners
Urban Renewal Authority of Pueblo, Colorado
D U O
D °
City of Pueblo
OFFICE OF THE CITY ATTORNEY
127 Thatcher Building
MEMORANDUM PUEBLO, COLORADO 81003
TO: Joseph A. Fortino, Chairman
Board of Commissioners
Urban Renewal Authority of Pueblo, Colorado
FROM: City Attorney
RE: Purchase of 209 South Santa Fe Avenue, Pueblo, Colorado
DATE: December 7, 2000
We enclose three copies of Contract To Buy and Sell Real Estate (Commercial) with respect to
the Authority's purchase of 209 South Santa Fe Avenue, Pueblo, Colorado.
The Contract is for a purchase price of $89,000.00 with a $500.00 earnest money payment and
$88,500.00 cash at closing scheduled for February 16, 2001.
We have used the legal description and ownership contained in the Limited Appraisal of Real
Property Summary Report dated April 15, 1999 prepared by Gary Vertrees (the "Limited
Appraisal ") and have not verified their accuracy.
The Board of Commissioners should determine whether an additional appraisal is required and
whether an environmental assessment should be performed.
The Contract should be reviewed by the Board of Commissioners and, if acceptable, be approved
by the Board of Commissioners and the Chairman authorized to execute the Contract in the name
of the Authority and approve modifications thereto.
The address and telephone number of the Sellers needs to be inserted in page 6.
If you have any questions, please let me know.
Very truly yours,
Thomas E. agger
sm
enc.
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Resolution #9180
The printed portions of this form have been approved by the Colorado Real Estate Commission. (CBS2 -9 -99)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING.
CONTRACT TO BUY AND SELL REAL ESTATE
(COMMERCIAL)
Date: December 12, 2000
1. AGREEMENT. Buyer agrees to buy and the undersigned Seller agrees to sell the Property defined below on the terms and
conditions set forth in this contract.
2. DEFINED TERMS.
a. Buyer. Buyer, Urban Renewal Authority of Pueblo, Colorado ,
will take title to the real property described below as 17 Joint Tenants 17 Tenants In Common E1 Other Buyer' s
b. Property. The Property is the following legally described real estate: name
The South 3 feet of Lot 14, and all of Lots 15, 16,and 17
Block 1 Moore's Subdivision
in the County of Pueblo , Colorado, commonly known as
No. 209 South Santa Fe Avenue puehlo Colorado 81003
Street Address City State Zip
together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, all interest of Seller
in vacated streets and alleys adjacent thereto, except as herein excluded.
c. Dates and Deadlines.
Item No.
Reference
Event
Date or Deadline
1
§ 5a
Loan Application Deadline
n a
2
§ 5b
Loan Commitment Deadline
n 1
3
§ 5c
Buyer's Credit Information Deadline
n a
4
§ 5c
Disapproval of Buyer's Credit Deadline
n a
5
§ 5d
Existing Loan Documents Deadline
ri a
6
§ 5d
Objection to Existing Loan Deadline
ri a
7
§ 5d
Approval of Loan Transfer Deadline
n a
8
§ 6a
Appraisal Deadline
ri a
9
§ 7a
Title Deadline
January
10
2001
10
§ 7a
Survey Deadline
January
10
2001
11
§ 7b
Document Request Deadline
January
31
2001
12
§ 8a
Title Objection Deadline
JanuarV
31
2001
13
§ 8b
Off- Record Matters Deadline
January
10
2001
14
§ 8b
Off - Record Matters Objection Deadline
January
31
2001
15
§10
Seller's Property Disclosure Deadline
January
10,
2001
16
§ 10a
Inspection Objection Deadline
January
31
2001
17
§ 10b
Resolution Deadline
February
9
2001
18
§11
Closing Date
February
16
20 0 1
19
§ 16
Possession Date
February
16
200
20
§ 16
Possession Time
4:00 . m .
21
§ 28
Acceptance Deadline Date
Decemb
22,
2 0 0
22
§ 28
Acceptance Deadline Time
4:00 . m .
d. Attachments. The following exhibits, attachments and addenda are a part of this contract: None
e. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation
"N /A" means not applicable.
3. INCLUSIONS AND EXCLUSIONS.
a. The Purchase Price includes the following items (Inclusions):
(1) Fixtures. If attached to the Property on the date of this contract, lighting, heating, plumbing, ventilating, and air con-
ditioning fixtures, inside telephone wiring and connecting blocks /jacks, plants, mirrors, floor coverings, intercom systems, sprinkler
systems and controls,
No. CBS2 - - CONTRACT TO BUY AND SELL REAL ESTATE (COMMERCIAL)
A.n.lf M R.I.I i.•/.:..n IW1 Wn C. Ilnn..w. In 0A1 7ll'l Inn n _ ......... �__�e_._..�._. -•... .. .nnn ... 'w.
N/A
64 (2) Other Inclusions/ If on the Property whether attached or not on the date of this contract: storm windows, storm doors, window and
65 porch shades, awnings, blinds, screens, window coverings, curtain rods, drapery rods, storage'sheds, and all keys. Check applicable box(es) if included:
66- ❑ Smoke/Fire Detectors, ❑ Security Systems; and
67
68
69
70
71 (3) Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows: N/A
72
73
74
75
76
77 b. Instruments of Transfer. The Inclusions are to be conveyed at Closing free and clear,of all taxes, liens and encumbrances, except as
78 provided in § '12. Conveyance shall be by bill of sale or other applicable legal instrument(s).
79 c. Exclusions. . The following attached fixtures are excluded from this sale: None
80
81
82
83 4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shall be payable in U. S. Dollars by Buyer as follows:
84
85
86
87
88
89
90
91
92
93
94
95
96
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99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
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118
119
120
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135
136
Item No.
Reference
Item
Amount
Amount
1
§ 4
Purchase Price
$89,00
2
§ 4a
Earnest Money
$°' 5 0 0. 00
3
§ 4b
New Loan
4
§ 4c
Assumption Balance
5
§ 4d
Seller or Private Financin
6
4e
Cash at Closing
;`` 88 500.00
7
TOTAL
$89,000.00.
1$89,000.00
a. Earnest Money.
The Earnest Money set forth in this Section, in the form of
Buyer' s 'check
, is cart oav-
ment of the Purchase Price and shall be payable to and held by Seller XM%dt#sMaMIF, on behalf of both Seller and
Buyer. The parties authorize delivery of the Earnest Money deposit to the Closing Company, if any, at or before Closing.
. This loan will be secured by a (1st, 2nd, etc.) deed of trust.
The total loan amount, not in excess of $ shall be amortized over a period of years at rox-
imately $ per month including principal and interest not to exceed % per annum, plus, if ire by
Buyer's lender, a monthly deposit of %2 of the estimated annual real estate taxes and property insurance premium. If the loan is an a stable inter-
est rate or graduated payment loan, the monthly payments and interest rate initially shall not exceed the figures set forth above
Loan discount points, if any, shall be paid to lender at Closing and shall not exceed % of the total loan a t. Notwithstanding
the loan's interest rate, the first loan discount points shall be paid by , and the
balance, if any, shall be paid by
Buyer shall timely pay Buyer's loan costs and a loan origination fee not to exceed % of the 1 amount.
c. Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of ssumption Balance set forth in this
Section, presently payable at $ permonth including principal, interest presently a % per annum, and also includ-
ing escrow for the following as indicated: ❑ Real Estate Taxes, ❑ Property Insurance Premiu and
Buyer agrees to pay a loan transfer fee not to exceed $
% per annum and the new monthly payment shall not exceed $ _
If the actual principal balance of the existing loan at Closing is less than the As:
Buyer at Closing to be increased by more than $ , then
Seller of Buyer's written notice of termination or ❑
Seller ❑ Shall ❑ Shall Not be released from liability on said 1 If applicable, compliance with the requirements for release from lia-
bility shall be evidenced by delivery at Closing of appropriate letter commitment from lender. Cost payable for release of liability shall be paid
by in an amount not to exceed $
d. Seller or Private Financing. Buyer agrees to e a promissory note payable to:
as ❑ Joint Tenants ❑ Tenants in Common
❑ Other , on the note form as indicated: ❑ (UCCC - No Default Rate) NTD 82 -3 -95
❑ (Default Rate) NTD 81 -11 -83 ❑ Other secured by a (1st, 2nd, etc.) deed
of trust encumbering the Property, using a form as indicated: 13 Strict Due -On -Sale (TD 72 -7 -96) 13 Creditworthy (TD 73 -7 -96)
❑ Assumable - Not Due On Sale (TD -96) ❑ Other
Buyer ❑ Shall [3 Shall N xecute and deliver, at Closing, a Security Agreement and UCC -1 Financing Statement granting the holder
of the promissory note a (1st, 2nd, etc.) lien on the personal property included in this sale. The promissory note shall be amortized
/Noti nc=sed s of [3 years ❑ months, payable at $ per month including principal and interest at the rate
% per ann . Payments shall commence and shall be due on the day of
ding mo . If not sooner paid, the balance of principal and accrued interest shall be due and payable
after Closing. Payments 13 Shall 13 Shall Not be increased by X2 of estimated annual real estate taxes, and 13 Shall
t increased by %2 of estimated annual property insurance premi um. The loan shall also contain the following terms: if any payment
ed within calendar days after its due date, a late charge of % of such monthly payment shall be due.
lender disbursements under the deed of trust shall be % per annum. Default interest rate shall be %per annum.
prepay without a penalty except
e. Cash at Closing. All amounts paid by Buyer at Closing including Cash at Closing, plus Buyer's closing costs, shall be in funds which
comply with all applicable Colorado laws, which include cash, electronic transfer funds, certified check, savings and loan teller's check and
cashier's check (Good Funds).
At the
i f assumption, the new interest rate shall not exceed
principal and interest, plus escrow, if any.
Balance, which causes the amount of cash required from
• May Terminate this contract effective upon receipt by
No. CBS2 -9 -99. Page 2 of 6
137 -�9.00blsi A
138 . a. Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining a new loan, or if an existing loan is not to be rel
139 at Closing, Buyer, if required by such lender, shall make written application by Loan Application Deadline (§ 2c). Buyer shall coo with
140 Seiler and lender to obtain loan approval, diligently and timely pursue same in good faith, execute all documents and furnish all i ad and
141 documents required by lender, and, subject to § 4, timely pay the costs of obtaining such loan or lender consent. Buyer agr satisfy the rea-
142 sonable requirements of lender, and shall not withdraw the loan or assumption application, nor intentionally cause an ge in circumstances
143 which would prejudice lender's approval of the loan application or funding of the loan.
144 b. Loan Commitment. If Buyer is to pay all or part of the Purchase Price by obtaining a new to pecified in § 4b, this contract is
145 conditional upon Buyer obtaining a written loan commitment including, if required by lender, (1) len a ification of employment, (2) lender
146 approval of Buyer's credit - worthiness, (3) lender verification that Buyer has sufficient funds to, e, and (4) specification of any remaining
147 requirements for funding said loan. This condition shall be deemed waived unless Seller rec . from Buyer, no later than Loan Commitment
148 Deadline (§ 2c), written notice of Buyer's inability to obtain such loan commitment. uyer so notifies. Seller, this contract shall terminate.
149 IF BUYER WAIVES THIS CONDITION BUT DOES NOT CLOSE, BUYER L BE IN DEFAULT.
150 c. Credit Information. If Buyer is to pay all or part of the Purchase by executing a promissory note in favor of Seller or if an exist -
151 ing loan is not to be released at Closing, this contract is conditional upon er's approval of Buyer's financial ability and creditworthiness, which
152 approval shall be at Seller's sole and absolute discretion. In such . 1) Buyer shall supply to Seller by Buyer's Credit Information Deadline
153 (§ 2c), at Buyer's expense, information and documents conc g Buyer's financial, employment and credit condition;..(2) Buyer consents that
154 Seller may verify Buyer's financial ability and creditwo ' ess (including obtaining a current credit report); (3) any such information and docu-
155 ments received by Seller shall be held by Seller in 1, ence, and not released to others except to protect Seller's interest in this transaction; (4)
156 if Seller does not provide written notice of Se disapproval to Buyer by Disapproval of Buyer's Credit Deadline (§ 2c), then Seller waives
157 this condition. if Seller does provide w ' notice of disapproval to Buyer on or before said date, this contract shall terminate.
158 d. Existing Loan Review. n existing loan is not to be released at Closing, Seller shall provide copies of the loan documents (includ-
159 ing note, deed of trust, and an ifications) to Buyer by Existing Loan Documents Deadline (§ 2c). This contract is conditional upon Buyer's
160 review and approval of rovisions of such loan documents. If written notice of objection to such loan documents, signed by Buyer, is not
161 received by Seller a Objection to Existing Loan Deadline (§ 2c), Buyer accepts the terms and conditions of the documents. If the lender's
162 approval of a er of the Property is required, this contract is conditional upon Buyer's obtaining such approval without change in the terms of
163 such loa ept as set forth in § 4c. If lender's approval is not obtained by Approval of Loan Transfer Deadline (§ 2c), this contract shall ter -
164 mi n such date. If Seller is to be released from liability under such existing loan and Buyer does not obtain such compliance as set forth in
165
166 6. APPRAISAL PROVISIONS.
167 a. Appraisal Condition. This subsection a. ❑ Shall IN Shall Not apply.
168 Buyer shall have the sole option and election to terminate this contract if the Purchase Price exceeds the Property's valuation determined by
169 an appraiser engaged by n / a . The contract shall terminate by Buyer giving Seller
170 written notice of termination and either a copy of such appraisal or written notice from lender which confirms the Property's valuation is less than
171 the Purchase Price, received on or before the Appraisal Deadline (§ 2c). If Seller does not receive such written notice of termination on or before
172 the Appraisal Deadline (§ 2c), Buyer waives any right to terminate under this subsection.
173 b. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this contract shall be timely paid b� E3 Buyer ❑ Seller.
174 7. EVIDENCE OF TITLE.
175 a. Evidence of Title; Survey. On or before Title Deadline Q 2c), Seller shall cause to be furnished to Buyer, at Seller's expense, a cur -
176 rent commitment for owner's title insurance policy in an amount equal to the Purchase Price or if this box is checked, ❑ An Abstract of title
177 certified to a current date. If a title insurance commitment is furnished, it ® Shall ❑ Shall Not commit to delete or insure over the standard
178 exceptions which relate to:
179 (1) parties in possession,
180 (2) unrecorded easements,
181 (3) survey matters,
182 (4) any unrecorded mechanics' liens,
183 (5) gap period (effective date of commitment to date deed is recorded), and
184 (6) unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing.
185 Any additional premium expense to obtain this additional coverage shall be paid by ❑ Buyer M Seller. An amount not to exceed
186 $ 5 0 0 - 00 for the cost of any improvement location certificate or survey shall be paid by ❑ Buyer ® Seller. If the cost exceeds this
187 amount, Seller shall pay the excess on or before Closing. The improvement location certificate or survey shall
188 be received by Buyer on or before Survey Deadline (§ 2c). Seller shall cause the title insurance policy to be delivered to Buyer as soon as practi-
189 cable at or after Closing.
190 b. Copies of Exceptions. On or before Title Deadline (§ 2c), Seller, at Seller's expense, shall furnish to Buyer, (1) a copy of any plats,
191 declarations, covenants, conditions and restrictions burdening the Property, and (2) if a title insurance commitment is required to be furnished, and
192 if this box is checked M Copies of any Other Documents (or, if illegible, summaries of such documents) listed in the schedule of exceptions
193 (Exceptions). Even if the box is not checked, Seller shall have the obligation to furnish these documents pursuant to this subsection if requested
194 by Buyer any time on or before the Document Request Deadline (§ 2c). This requirement shall pertain only to documents as shown of record in
195 the office of the clerk and recorder(s). The abstract or title insurance commitment, together with any copies or summaries of such documents fur -
196 nished pursuant to this Section; constitute the title documents (Title Documents).
197 8. TITLE.
198 . a. Title Review. Buyer shall have the right to inspect the Title Documents: Written notice by Buyer of unmerchantability of title or of
199 any other unsatisfactory title condition shown by the Title Documents shall be signed by or on behalf of Buyer and given to Seller on or before
200 Title Objection Deadline (§ 2c), or within five (5) calendar days after receipt by Buyer of any Title Document(s) or endorsement(s) adding new
201 Exception(s) to the title commitment together with a copy of the Title Document adding new Exception(s) to title. If Seller does not receive Buyer's
202 notice by the date(s) specified above, Buyer accepts the condition of title as disclosed by the Title Documents as satisfactory.
203 b. Matters not Shown by the Public Records. Seller shall deliver to Buyer, on or before Off - Record Matters Deadline (§ 2c) true
204 copies of all lease(s) and survey(s) in Seller's possession pertaining to the Property and shall disclose to Buyer all easements, liens or other title
205 matters not shown by the public records of which Seller has actual knowledge. Buyer shall have the right to inspect the Property to determine if
206 any third party(ies) has any right in the Property not shown by the public records (such as an unrecorded easement, unrecorded lease, or boundary
207 line discrepancy). Written notice of any unsatisfactory condition(s) disclosed by Seller or revealed.by such inspection shall be signed by or on
208 behalf of Buyer and given to Seller on or before Off - Record Matters Objection Deadli ne (§ 2c). If Seller does not receive Buyer's notice by
209 said date, Buyer accepts title subject to such rights, if any, of third parties of which Buyer has actual knowledge.
210 c. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTED -
211 NESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH
212 DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND
213 EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN
214 THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL
215 LEVIES. BUYER SHOULD INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIG-
216 ATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH
217 INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
218 In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as a result, if written notice is
219 received by Seller on or before Off - Record Matters Objection Deadline (§ 2c), this contract shall then terminate. If Seller does not receivd Buyer's
220 notice by such date, Buyer accepts the effect of the Property's inclusion in such special taxing district(s) and waives the right to so terminate.
No rRCM -0 -00 P.... A nv 6 Ich
221 d. Right to Cure. If Seller receives notice of unmerchantability of title or any other unsatisfactory title condition(s) or commitment terms
222 as provided in § 8 a or b above, Seller shall use reasonable effort to correct said items and bear any nominal expense to correct, the same prior to
223 Closing. If such unsatisfactory title condition(s) are not corrected on or before Closing, this contract shall then terminate; provided, however, Buyer
274 may, by written notice received by Seller, on or before Closing, waive objection to such items.
225 e. Title Advisory. The Title Documents affect the title, ownership 'and use of the Property and should be reviewed carefully.
226 Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including without limita-
227 tion boundary lines and encroachments, area, zoning, unrecorded easements and claims of easements, leases and other unrecorded agreements, and
228 various laws and governmental regulations concerning land use, development and environmental matters. The surface estate may be owned sep-
229 arately from the underlying mineral estate, and transfer of the surface estate does not necessarily include transfer of the mineral rights.
230 Third parties may hold interests in oil, gas, other minerals, geothermal energy or water on or under the Property, which interests may give
231 them rights to enter and - use the Property... Such matters may be excluded from the title insurance policy. Buyer is advised to timely consult
232 legal counsel with respect to all such matters as there are strict time limits provided in this contract (e.g., Title Objection Deadline [§ 2c] and Off -
233 Record Matters Objection Deadline [§ 2c]).
234 9. LEAD -BASED PAINT. Unless exempt, if the improvements on the Property include one or more residential dwelling(s) for which a
235 building permit was issued prior to January 1, 1978, this contract shall be void unless a completed Lead -Based Paint Disclosure (Sales) form is
236 signed by Seller and the required real estate licensee(s), which must occur prior to the parties signing this contract.
237 10. PROPERTY DISCLOSURE AND INSPECTION. On or before Seller's Property Disclosure Deadline (§ 2c), Seller agrees to pro -
238 vide Buyer with a written disclosure of adverse matters regarding the Property completed by Seller to the best of Seller's current actual knowledge.
239 a. Inspection Objection Deadline. Buyer shall have the right to have inspection(s) of the physical condition of the Property and Inclusions,
240 'at Buyer's expense. If the physical condition of the Property or Inclusions is unsatisfactory in Buyer's subjective discretion, Buyer shall, on or
241 before Inspection Objection Deadline (§ 2c):
242 (1) notify Seller in writing that this contract is terminated, or
243 (2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires Seller to correct (Notice to
244 Correct).
245 If written notice is not received by Seller on or before Inspection Objection Deadline (§ the physical condition of the Property and
246 Inclusions shall be deemed to be satisfactory to Buyer.
247 b. Resolution Deadline. If a Notice to Correct is received by Seller and if Buyer and Seller have not agreed in writing to a settlement
248 thereof on or before Resolution Deadline (§ 2c), this contract shall terminate one calendar day following the Resolution Deadline (§ 2c), unless
249 before such termination Seller receives Buyer's written withdrawal of the Notice to Correct.
250 c. Damage; Liens; Indemnity. Buyer is responsible for payment for all inspections, surveys, engineering reports or for any other work
251 performed at Buyer's request and shall pay for any damage which occurs to the Property and Inclusions as a result of such activities. Buyer shall
252 not permit claims or liens of any kind against the Property for inspections, surveys, engineering reports and for any other work performed on the
253 Property at Buyer's request. Buyer agrees to indemnify, protect -and hold Seller harmless from and against any liability, damage, cost or expense
254 incurred by Seller in connection with any such inspection, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses
255 incurred by Seller to enforce this subsection, including Seller's reasonable attorney fees. The provisions of this subsection shalt survive the ter -
256 mination of this contract.
257 11. CLOSING. Delivery of deed(s) from Seller to Buyer shall be at Closing (Closing). Closing shall be on the date specified as the Closing
258 Date (§ 2c) or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by Buyer
259
260 12. TRANSFER OF TITLE. Subject- to tender or payment at Closing as required herein and compliance by Buyer with the other terms and
261 provisions hereof, Seller shall execute and deliver a good and sufficient general warranter deed to Buyer, at Closing,
262 conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as provided herein, title shall be con -
263 veyed free and clear of all liens, including any governmental liens for special improvements installed as of the date of Buyer's signature hereon,
264 whether assessed or not. Title shall be conveyed subject to:
265 a. those specific Exceptions described by reference to recorded documents as reflected in the Title Documents accepted by Buyer in accor-
266 dance with § 8a [Title Review],
267 b. distribution utility easements,
268 c. those specifically described rights of third patties not shown by the public records of which Buyer has actual knowledge and which were
269 accepted by Buyer in accordance with § 8b [Matters Not Shown by the Public Records], an d
270 d. inclusion of the Property, within any special taxing district, and
271 e. the benefits and burdens of any declaration and party wall agreements, if any, and
272 f. other none
273 13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from the proceeds of this
274 transaction or from any other source.
275 14. CLOSING COSTS; DOCUMENTS AND SERVICES Buyer and Seller shall pay, in Good Funds, their respective Closing costs and
276 all other items required to be paid at Closing, except as otherwise provided herein. Buyer and Seller shall sign and complete all customary or rea-
277 sonably required documents at or before Closing. Fees for real estate Closing services shall be paid at Closing by V One -Half by Buyer and
278 One -Half by Seller 13 Buyer E3 Seller 13 Other
279 The local transfer tax of n /a % of the Purchase Price shall be paid at Closing by ❑ Buyer ❑ Seller. Any sales and use tax that may
280 accrue because of this transaction shall be paid when due by ❑ Buyer M Seller.
281 15. PRORATIONS. The following shall be prorated to Closing Date (§ 2c), except as otherwise provided:
282 a. Taxes. Personal property taxes, if any, and general real estate taxes for the year of Closing, based on
283 M The Taxes for the Calendar Year Immediately Preceding Closing ❑ The Most Recent Mill Levy and Most Recent Assessment
284 ❑ Other
285 b. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. Security deposits held by Seller shall be credited to Buyer. Seller
286 shall assign all leases to Buyer and Buyer shall assume such leases. n / a
287 c. Other Proration. Water, sewer charges; and interest on continuing loan(s), if any; and
288
289 d. Final Settlement. Unless otherwise agreed in writing, these proration shall be final.
290 16. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date and Possession Time (§ 2c), subject to
291 the following lease(s) or tenancy(s): none
292
293
294
295
296
297
298 If Seller, after Closing, fails to deliver possession as specified, Seller shall be subject to eviction and shall be additionally liable to Buyer for
299 payment of $ 100 -00 per day from the Possession Date (§ 2c) until possession is delivered.
300 17. NOT ASSIGNABLE. This contract shall not be assignable by Buyer without Seller's prior written consent. Except as so restricted, this
301 contract shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and assigns of the parties.
No. CBS2 -9 -99. Page 4 of 6
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18. CONDITION OF, AND DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided in this contract, the Property,
Inclusions or both shall be delivered in the condition existing as of the date of this contract, ordinary wear and tear excepted.
'a. Casualty; Insurance. In the event the Property or Inclusions shall be damaged by fire or other casualty prior to Closing, in an amount
of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same before the Closing Date (§ 2c). In the event
such damage is not repaired within said time or if the damages exceed such sum, this contract may be terminated at the option of Buyer by deliv-
ering to Seller written notice of termination. Should Buyer elect to cant' out this contract despite such damage, Buyer shall be entitled to a credit,
at Closing, for all the insurance proceeds resulting from such damage to the Property and Inclusions payable to Seller but not the owners' associ-
ation, if any, plus the amount of any deductible provided for in such insurance policy, such credit not to exceed the total Purchase Price.
b. Damage; Inclusions; Services. Should any Inclusions) or services) (including systems and components of the Property, e.g. heat-
ing, plumbing, etc.) fail or be damaged between the date of this contract and Closing or possession, whichever shall be earlier, then Seller shall be
liable for the repair or replacement of such Inclusions) or service(s) with a unit of similar size, age and quality, or an equivalent credit, but only
to the extent that the maintenance or replacement of such Inclusion(s), service(s) or fixture(s) is not the responsibility of the owners' association,
if any, less any insurance proceeds received by Buyer covering such repair or replacement.
c. Walk - Through; Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through the Property prior to
Closing to verify that the physical condition of the Property and Inclusions complies with this contract.
19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer and.Seller acknowledge that lsbocScJtbW
$btAp7fitijr� 7i5ttAg:C�4mp0pL}a4ntg t�this document has important legal consequences and :%M* R1�9i M k
2itt x0midltatibtn with legal and tax or other counsel before signing this contract. eac par y s u onsu
20. TIME OF ESSENCE AND REMEDIES. Time is of the essence hereof. If any note or check received as Earnest Money hereunder or
any other payment due hereunder is not paid, honored or tendered when due, or if any other obligation hereunder is not performed or waived as
herein provided, there shall be the following remedies:
a. If Buyer is in Default:
❑ (1) Specific Performance. Seller may elect to treat this contract as canceled, in which case all payments and things of value received
hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may be proper, or Seller may elect to treat
this contract as being in full force and effect and Seller shall have the right to specific performance or damages, or both.
mt.. (2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Buyer and retained on behalf of
Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments and things of value are LIQUI-
DATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE AND ONLY REMEDY for Buyer's failure to perform the
obligations of this contract. Seller expressly waives the remedies of specific performance and additional damages.
b. If Seller is in Default: Buyer may elect to treat this contract as canceled, in which case all payments and things of value received
hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this contract as being in full force
and effect and Buyer shall have the right to specific performance or damages, or both.
e. Costs and Expenses. In the event of any arbitration or litigation relating to this contract, the arbitrator or court shall award to the pre-
vailing party all reasonable costs and expenses, including attorney fees.
good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial person who Ithe
dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the dispute rr i „re any settlement is
binding. The parties will jointly appoint an acceptable mediator and will share equally in the co tatton. The mediation, unless oth-
erwise agreed, shall terminate in the event the entire dispute is not resolved 30 cale m the date written notice requesting mediation is
sent by one party to the other(s). This Section shall not alter any da act, unless otherwise agreed.
22. EARNEST MONEY DISPUTE. Notwiths nation of this contract, Buyer and Seller agree that, in the event of any con-
troversy regarding the Earnest Mone value held by broker or Closing Company (unless mutual written instructions are received by
the holder of the Ear htngs of value), broker or Closing Company shall not be required to take any action but may await any pro-
ceedin or Closing Company's option and sole discretion, may interplead all parties and deposit any moneys or things of value into
23. TERMINATION. In the event this contract is terminated, all payments and things of value received hereunder shall be returned and the
parties shall be relieved of all obligations hereunder, subject to §§ 10c, mxff=. and 21 .
24. ADDITIONAL PROVISIONS. (The language of these additional provisions has not been approved by the Colorado Real Estate Commission.)
24.1 NO BROKERS' COMMISSIONS. Buyer and Seller each represent and warran
to the other that no broker or finder has represented or.acted on behalf of
the representing party in connection with the. contemplated by
this Contract, and each such representing • party -agrees to indemnify and hol
harmless the other party against any loss, claim, damage or expense,
including reasonable attorney fees, incurred by the other party as a result
of any claim for any fee or commission asserted 'by any person claiming as a
broker or finder to have represented or acted.'on behalf of the representing
party.
24.2. HAZARDOUS WASTE. To the best of Seller's knowledge (a) the
Premises have never been used as.a landfill or waste dump; (b) there has be
no installation in, or production, disposal or` storage on, the Premises of
any hazardous waste or other toxic substances, including, without limitatio
asbestos, by any tenant or any previous owner or previous tenant or any
other activity which could have toxic results and (c) there is no proceedi
or inquiry by any governmental authority or.agency with respect thereto.
24.3. CITY COUNCIL APPROVAL. This Contract and Buyer's.obligation to
perform hereunder are contingent upon this purchase and transaction being
approved by the City Council of Pueblo, Colorado.
The provisions of section 24.1 and 24.2 shall survive closing..
No. CBS2 -9 -99. Page 5 of 6
0
384 ' 14. ADDITIONAL PROVISIONS. (Cont). (The language of these additional provisions has -fie] � v �bir C i s g Co ussion�
385 r
diod n ^ru)lZUl'Jni FE7F
386 ' nr
387
388
389 -
390
391 25. ENTIRE AGREEMENT; SUBSEQUENT MODIFICATION; SURVIVAL. This contract constitutes the entire contract between the
392 parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated into
393 this contract. No subsequent modification of any of the terms of this contract shall be valid, binding upon the parties, or enforceable unless made
394 in writing and signed by the parties. Any obligation in this contract which, by its terms, is intended to be performed after termination or Closing
395 shall survive the same.
396 26. FACSIMILE. Signatures ❑ May 19 May Not be evidenced by facsimile. Documents with original signatures shall be provided to the
397 other party at Closing, or earlier upon request of any party.
398 27. NOTICE. RKoel =ltm any notice to Buyer shall be effective when received by Buyer
399 and any notice to Seller shall be effective when received by Seller otjG�i�gRDin¢fg .
400 28. NOTICE OF ACCEPTANCE; COUNTERPARTS. This proposal shall expire unless accepted in writing, by Buyer and Seller, as evi-
401 denced by their signatures below, and the offering party receives notice of acceptance pursuant to § 27 on or before Acceptance Deadline Date
402 and Acceptance Deadline Time (§ 2c). If accepted, this document shall become a contract between Seller and Buyer. A copy of this document
403 may be executed by each party, separately, and when each party has executed a copy thereof, such copies taken together shall be deemed to be a
404 full and complete contract between the parties. URBAN RENEWAL AUTHORITY*_ OF
PU�Fr O , COLORA 0
405 $
Buyer Bay ChaA
406 Date of Buyer's Signature: Date of Buyer's Signature: December , 2000
407 Buyer's Address- c/o Thomas E. Jagger, 127 Thatcher Building, Pueblo, CO 81003
408 Buyer's Telephone No: 719-545-4412 Buyer's Fax No:
409 (NO _If this coffer is being countered or rejected, do not sign this document. fer to § 29]
410 �- �.✓c. -./C. F C�.It.��.v`"co
Seller Fran B rto O Seler ar Hu sa er 200
411 Date of Seller's Signature: December. 20 00 Date of Seller's Signature: December /'� ,
412 Seller's'Addre�f't S ��-�L� E rw �ae o L
e
413 Seller's Telephone No: Seder's Fax No:
414 29. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected.
415 Initials only of party (Buyer or Seller) who countered or rejected offer
416 END OF CONTRACT
417 Note: Closing Instructions should be signed on or before Title Deadline.
418 BROKER ACKNOWLEDGMENTS. The undersigned Broker(s) acknowledges receipt of the Earnest Money deposit specified in § 4 and,
419 while not a party to the contract, agrees to cooperate upon request with any mediation conducted under § 21.
420 Selling Company Brokerage Relationship. The Selling Company and its licensees have been engaged in this transaction as ❑ Buyer Agent
421 ❑ Seller. Agent/Subagent ❑ Dual Agent ❑ Transaction- Broker.
422 Listing Company Brokerage Relationship. The Listing Company and its licensees have been engaged in this transaction as ❑ Seller Agent
423 Q Dual Agent ❑ Transaction- Broker.
NOT APPLICABLE
424 BROKERS' COMPENSATION DISCLOSURE.
Selling Company's compensation or commission is to be paid by: 13 Buyer ❑ Seller ❑ Listing Company 13 Other
N/A
425
426 (To be completed by Listing Company ) Company's compensation or commission is to be paid by:
427 ❑ Buyer ❑ Seller ❑ Other N)
?A
Selling Company: N/A
Name of Company
429 By:
Signature Date
430 Selling Company's Address:
431 Selling Company's Telephone No: Selling Company's Fax No:
432 Listing Company: N/A
Name of Company
433 By: '
Signature Date
434 Listing Company's Address:
435 Listing Company's Telephone No:
No. CBS2 -9 -99. Page 6 of 6
Listing Company's Fax No:
`n
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
(719) 543 - 0451
Escrow Officer: BONNIE OLIVIERI
SR. ESCROW OFFICER
BUYER'S CLOSING STATEMENT
Buyer(s): URBAN RENEWAL AUTHORITY OF PUEBLO, Seller(s): FRANK BARTOLO
COLORADO CHARLES HUNSAKER
Property: 209 S. SANTA FE AVENUE
PUEBLO, COLORADO 81003
S. 3 Ft of Lot 14, All 15, 16 and 17,
Block 1, Moores Sub
C ontract Sales Price ..................................... ...............................
Deposits Buyer ........................................ ...............................
PRORATIONS
COUNTY TAXES ($1666.14) ................ 01/01/00 to 12/27/00 .....................
LENDER CHARGES:
RESERVES
TITLE CHARGES
REAL ESTATE CLOSING FEE ................................... ...............................
TAX INFORMATION SERVICES .................................. ...............................
RECORDING FEES, TRANSFER TAXES
WarrantyDeed ............................................ ...............................
DOCUMENTARY FEE ........................................... ...............................
ADDITIONAL CHARGES
2000 PROPERTY TAX PARCEL #05- 364 -26 PUEBLO COUNTY TREASURER ..............................
* * * ** SUB TOTAL
RECEIPT DUE FROM BUYER
Title No. 7572673
Date : December 27, 2000
DEBIT CREDIT
$89,000.00
500.00
1,647.88
75.00
15.00
5.00
8.90
1,666.14
90,770.04 2,147.88
88,622.16
$90,770.04 $90,770.04
The above figures do not include sales or use taxes on personal property.
THE ABOVE DEDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
URBAN RENEWAL AUTHORITY OF PUEBLO,
COLORADO
r .?
40'SEPH A� FORTINO, CHAIRMAN
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. 7572673
Date December 27, 2000
SELLER'S CLOSING STATEMENT
Setters) : FRANK BARTOLO
CHARLES HUNSAKER
Property: 209 S. SANTA FE AVENUE
PUEBLO, COLORADO 81003
S. 3 Ft of Lot 14, All 15, 16 and 17,
Block 1, Moores Sub
Buyer(s) : URBAN RENEWAL AUTHORITY OF PUEBLO,
COLORADO
DEBIT CREDIT
Contract Sales Price ..................................... ............................... $89,000.00
Depositpaid to Setter ................................... ............................... 500.00
PAYOFF
PRORATIONS
COUNTY TAXES ($1666.14) ................ 01/01/00 to 12/27/00 ..................... 1,647.88
LENDER CHARGES:
RESERVES
TITLE CHARGES
REAL ESTATE CLOSING FEE ......... ............................... .......................... 75.00
OWNERS TITLE INSURANCE PREMIUM ............................ ............................... 522.00
RECORDING FEES, TRANSFER TAXES
ADDITIONAL CHARGES
* * * ** SUB TOTAL 2,744.88 89,000.00
PROCEEDS DUE SELLER 86,255.12
$89,000.00 $89,000.00
The above figures do not include sales or use taxes on personal property.
THE ABOVE EDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
Broker
FRANK BART 10
By:
C A ES HUNSAKER Transnation Title Insurance Company
By: BONNIE OLIVIERI
TRANSNATION TITLE INSURANCE 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: 209 S. SANTA FE AVENUE
PUEBLO, COLORADO 81003
1. FRANK BARTOLO and CHARLES HUNSAKER (SELLER) and URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO (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:
S. 3 Ft of Lot 14, All 15, 16 and 17,
Block 1, Moores Sub
also known as: 209 S. SANTA FE AVENUE, PUEBLO, COLORADO 81003
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 December 12, 2000, with ALL amendments and counterproposals attached (Contract), and made part of this document.
3. Legal documents will be prepared by Closing Agent at the expense of N /A.
4. Closing Agent will receive a fee not to exceed $150.00 for providing these closing and settlement services to be the
expense of BUYER 8 SELLER EQUALLY.
5. Closing Agent is authorized to receive funds and to disburse funds when all 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 and 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. Seller 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 originals) 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 Setter
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 interplead, or interplead 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
Closing Agent
By: BONNIE OLIVIERI 12/27/00
8..1 1 e..i.. ♦ D� �nni.n�nr/ c \
REAL ESTATE WATER AND SEWER AGREEMENT
Escrow No.: 7572673
It is hereby understood and agreed between the purchaser(s) and seller(s) of property
known as: 209 S. SANTA FE AVENUE, PUEBLO, COLORADO 81003, that as of the date of
ACCOUNT IS: METERED
BASED ON THE ABOVE INFORMATION:
Escrow Agent HAS NOT ADJUSTED FOR WATER AND SEWER, ADJUSTMENT AS REQUIRED,
WILL BE MADE BETWEEN PARTIES AND ARE NOT A PART OF THIS ESCROW.
SELLER ASSUMES RESPONSIBILITY FOR THE FINAL WATER BILL.
IT IS FURTHER UNDERSTOOD AND AGREED BETWEEN THE PURCHASERS AND SELLERS THAT THIS IS A
FINAL SETTLEMENT AND HEREBY RELIEVE ESCROW AGENT OF ALL FURTHER LIABILITY AND
RESPONSIBILITY.
This Agreement executed this 27TH day of DECEMBER, 2000
APPROVED AND ACCEPTED:
Purchaser(s)
URBAN RENEWAL AUTHORITY OF PUEBLO,
COLORADO
BY
Sell (s)
FRANK BARTOLO
CHARLES HUNSAKER
JOSEPH A. FORTINO, CHAIRMAN
REAL ESTATE TAX AGREEMENT
Escrow No.: 7572673
It is hereby understood and agreed between the purchaser(B) and seller(s) of property
known as: 209 S. SANTA FE AVENUE
PUEBLO, COLORADO 81003
that taxes for the current year have been adjusted as of this date as follows:
BASIS FOR PRORATION
Taxes have been prorated on an estimate of $1,666.14 for the year 2000.
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)
URBAN RENEWAL AUTHORITY OF PUEBLO,
COLORADO
BY
JX4.4;
FRANK i0f0l,
Seller(s)
JOEPH 'A/' CHAIRMAN
This agreement executed this 27TH day of DECEMBER, 2000.
ESCROW NO.: 7572673
W A R R ANT Y DR ED
THIS DEED, Made this 27TH day of DECEMBER, 2000 between
FRANK BARTOLO and CHARLES HUNSAKER
of the County of PUEBLO and
State of COLORADO, grantor, and
URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO
whose legal address is 127 THATCHER BUILDING, PUEBLO, COLORADO 81003
of the County of PUEBLO and State of COLORADO, grantees:
WITNESSETH, That the grantor for and in consideration of the sum of EIGHTY NINE
THOUSAND AND 00 /100, ($89,000.00) Dollars, the receipt and sufficiency of which is
hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents
does grant, bargain, sell, convey and confirm unto the grantee, his heirs and asd'igns
forever, all the real property, together with improvements, if any, situate,lying and
being in the County of PUEBLO and State of Colorado, described as follows:
The South 3 feet of Lot 14, and all of Lots 15, 16 and 17, Block 1, Moore's
Subdivision of a portion of the W 1/2 of the NW 1/4 of the SW 1/4 of Section 31 in
Township 20 South, Range 64 West, and of the E 1/2 of the NE 1/4 of the SE 1/4 of
Section 36, Township 20 South, Range 65 West of the 6th P. M., County of Pueblo,
State of Colorado
also known by street and number as 209 S. SANTA FE AVENUE, PUEBLO, COLORADO 81003
TOGETHER with all and singular the hereditaments and appurtenances thereto
belonging, or in anywise appertaining and the reversion and reversions, remainder and
remainders, rents, issues and profits thereof, and all the estate, right, title,
interest, claim and demand whatsoever of the grantor, either in law or equity, of in
and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described, with the
appurtenances, unto the grantee, his heirs and assigns forever. And the grantor, for
himself, his heirs and personal representatives, does covenant, grant, bargain, and
agree to and with the grantee, his heirs and assigns, that at the time of the
ensealing and delivery of these presents, he is well seized of the premises above
conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in
law, in fee simple, and has good right, full power and lawful authority to grant,
bargain, sell and convey the same in manner and form as aforesaid, and that same
are free and clear from all former and other grants, bargains, sales, liens, taxes,
assessments, encumbrances and restrictions of whatever kind or nature soever, except
general taxes for 2000 and subsequent years; except easements, restrictions,
covenants, conditions, reservations and rights of way of record, if any;
The grantor shall and will WARRANT AND FOREVER DEFEND the above - bargained premises
in the quiet and peaceable possession of the grantee, his heirs and assigns, against
all and every person or persons lawfully claiming the whole or any part thereof. The
singular number shall include the plural, the plural the singular, and the use of any
gender shall be applicable to all genders.
IN WITNESS WHEREOF the grantor has exec4ted this deed on the date set forth above.
j
STATE OF COLORADO
County of PUEBLO
FRANK BARTOLO
CHARLES HUNSAKER
}
} ss. The foregoing instrument was acknowledged before
} me this 27TH day of DECEMBER, 2000
by FRANK BARTOLO and CHARLES HUNSAKER
No. 932A. Rev. 7 -84
Witness my hand and official seal.
My commission expires August 11, 2001
NOTARY PUBLIC
627 North Main Street
Pueblo, Colorado 81003
0 ,.A .
REAL PROPERTY TRANSFER DECLARATION
(TD -1000)
GENERAL INFORMATION
Purposet
The Real Property Transfer Declaration provides essential information to the county
assessor to help ensure fair and uniform assessments for all property for property tax
purposes. Refer to 39 -14- 102(4), Colorado Revised Statutes (C.R.S.).
Requirementss
All conveyance documents (deeds) subject to the documentary fee submitted to the
county clerk and recorder for recordation must be accompanied by a Real Property
Transfer Declaration. This declaration must be completed and signed by the grantor
(seller) or grantee (buyer). Refer to 39- 14- 102(1)(a), C.R.S.
Penalty for Noncompliance:
Whenever a Real Property Transfer Declaration does not accompany the deed, the clerk
and recorder notifies the county assessor who will send a notice to the buyer
requesting that the declaration be returned within thirty days after the notice is
mailed.
If the Real Property Transfer Declaration is not returned to the county assessor
within the thirty days of notice, the assessor may impose a penalty of $25.00 or .025%
(.00025) of the sale price, whichever is greater. This penalty may be imposed for any
subsequent year that the buyer fails to submit the declaration until the property is
sold. Refer to 39- 14- 102(1)(b), C.R.S.
Confidentiality:
The assessor is required to make the Real Property Transfer Declaration available for
inspection to the buyer. However, it is only available to the seller if the seller
filed the declaration. Information derived from the Real Property Transfer
Declaration is available to any taxpayer or any agent of such taxpayer subject to
confidentiality requirements as provided by law. Refer to 39 -5- 121.5, C.R.S. and
39- 13- 102(5)(c), C.R.S.
1. Address and /or legal description of the real property sold:
Please do not use P.O. box numbers.
209 S. SANTA FE AVENUE, PUEBLO, COLORADO 81003
The South 3 feet of Lot 14, and all of Lots 15, 16 and 17, Block 1, Moore's
Subdivision of a portion of the W 1/2 of the NW 1/4 of the SW 1/4 of Section 31 in
Township 20 South, Range 64 West, and of the E 1/2 of the NE 1/4 of the SE 1/4 of
Section 36, Township 20 South, Range 65 West of the 6th P. M., County of Pueblo,
State of Colorado
2.
Type of property purchased:
_Single Family Residential
_Commercial _Industrial
Other
3. Date of Closing: December 27, 2000
4. Total sale price:
Including all real and personal property. $
89,000.00
5. Was any personal property included in the transaction?
Personal property would include, but is not limited to, carpeting, drapes, free
standing appliances, equipment, inventory, furniture. If the personal property
is not listed, the entire purchase price will be assumed to be for the real
property as per 39 -13 -102, C.R.S.
_Yes X No If yes, approximate value $
Describe
6. Did the total sale price include a trade or exchange of additional real or
personal property? If yes, give the `approximate value the goods or services
as of the date of closing.
Yes _X_No If yes, value $
4
_Townhome _Condominium — Multi-Unit Res
Agricultural Mixed Use _Vacant Land
If yes, does this transaction involve a trade under IRS Code Section 1031?
_Yes _No
Pw 7. Was 100% interest in the real property purchased?
Mark "no" if only a partial interest is being purchased.
X Yes No If no, interest purchased %.
8. Is this a transaction among related parties? Indicate whether the buyer or,
seller are related. Related parties include persons within the same family,
business affiliates, or affiliated corporations. _Yes X No
9. Check any of the following that apply to the condition of the improvements at the
time of purchase.
_New _Excellent Good Average, _Fair ! Poor — Salvage.
If the property is financed, please complete the following.
10. Total amount financed. $
11. Type of financing: (Check all that apply)
_New _Assumed _Seller _Third Party
New
Explain
12. Terms:
Variable; Starting interest rate %
`_Fixed; Interest rate %
Length of time years
Balloon payment _Yes _No.
If yes, amount Due date
13. Please explain any special terms, seller concessions, or financing and any other
information that would help the assessor understand the terms of sale.
For properties other than residential (Residential is defined as: single family
detached, townhomes, apartments and condominiums) please complete questions 14 -16 if
applicable. Otherwise skip to 017 to complete.
14. Did the purchase price include a franchise or license fee? — Yes ` No
If yes, franchise or license fee value $
15. Did the purchase price involve an installment land contract? _Yes — No
If yes, date of contract
16. If this was a vacant land sale, was an on -site inspection of the property
conducted by the buyer prior to the closing? _Yes — No
Remarks: Please include any additional information concerning the sale you may feel is
important.
17. Signed this day of December , 20
Enter the day, month and year, have at least one of the parties to the transaction
sign the document, and include an address and a daytime phone number. Please
designate buyer or seller.
Signature of Grantee (Buyer)X or Grantor (Seller)_
127 Thatcher Building ( 719 ) 545 -4412
Address (mailing) Daytime Phone
Pueblo, CO 81003
City, State and Zip Code
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
Thomas E. Jagger
127 Thatcher Building
Pueblo„ CO 81003
Thomas Jagger
Order No. 7572673
December 19, 2000
RE: Urban Renewal Authority of Pueblo /Bartolo, Frank/ Hunsaker,
Charles 209 S. Santa Fe Ave
Your reference Urban Renewal
In connection with the above matter, we are enclosing herewith the
following:
Title Insurance Commitment
We are pleased to have the opportunity to be of service.
If you have any questions or changes, please contact Bonnie at 586 8626
cc: Frank Bartolo
Charles Hunsaker
TNT Attn: Bonnie
TRANSNATION TITLE INSURANCE COMPANY
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Commitment No.: 7572673
1. Effective Date: December 7, 2000 at 7:00 A.M.
2. Policy or policies to be issued: Amount Premium
A. ALTA Owner's Policy $ 89,000.00 $522.00
Proposed Insured:
Urban Renewal Authority of Pueblo, Colorado
B. ALTA Loan Policy $ $
Proposed Insured:
Tax Information Service $ 15.00
3. The estate or interest in the land described or referred to in this
commitment and covered herein is fee simple and title thereto at the
effective date hereof vested in:
Frank Bartolo and Charles Hunsaker
4. The land referred to in this commitment is described as follows:
The South 3 feet of Lot 14, and all of Lots 15, 16 and 17, Block
1, Moore's Subdivision of a portion of the W 1/2 of the NW 1/4 of
the SW 1/4 of Section 31 in Township 20 South, Range 64 West, and
of the E 1/2 of the NE 1/4 of the SE 1/4 of Section 36,.Township
20 South, Range 65 West of the 6th P. M., County of Pueblo, State
of Colorado
TRANSNATION TITLE INSURANCE COMPANY
By ROBIN MYERS
Authorized igna ure
Issued: December 19, 2000
RM /rm
TRANSNATION TITLE INSURANCE COMPANY
Commitment No.: 7572673
SCHEDULE A - Continued
REQUIREMENTS
The following are the requirements to be complied with prior to the
issuance of said policy or policies. Any other instrument recorded
subsequent to the date hereof may appear as an exception under Schedule B
of the policy to be issued. Unless otherwise noted, all documents must
be recorded in the office of the clerk and recorder of the county in
which said property is located.
NOTE:
PURSUANT TO SENATE BILL 91 -14 (CRS 10 -11 -122) THE COMPANY WILL NOT
ISSUE ITS POLICY OR POLICIES OF TITLE INSURANCE CONTEMPLATED BY THIS
COMMITMENT UNTIL IT HAS BEEN PROVIDED A CERTIFICATE OF TAXES DUE OR
OTHER EQUIVALENT DOCUMENTATION FROM THE COUNTY TREASURER OR THE
COUNTY TREASURER'S AUTHORIZED AGENT; OR UNTIL THE PROPOSED INSURED
HAS NOTIFIED OR INSTRUCTED THE COMPANY IN WRITING TO THE CONTRARY.
NOTE:
IF THIS TRANSACTION INCLUDES A SALE OF THE PROPERTY AND THE SALES
PRICE EXCEEDS $100,000.00, THE SELLER MUST COMPLY WITH THE
DISCLOSURE /WITHHOLDING PROVISIONS OF C.R.S. 39 -22 -604.5 (NONRESIDENT
WITHHOLDING).
NOTE:
EFFECTIVE SEPTEMBER I 1997, CRS 30 -10 -406 REQUIRES THAT ALL
DOCUMENTS RECEIVED FOR RECORDING OR FILING IN THE CLERK AND
RECORDER'S OFFICE SHALL CONTAIN A TOP MARGIN OF AT LEAST ONE INCH AND
A LEFT, RIGHT AND BOTTOM MARGIN OF AT LEAST ONE -HALF INCH. THE CLERK
AND RECORDER MAY REFUSE TO RECORD OR FILE ANY DOCUMENT THAT DOES NOT
CONFORM.
A. Deed from Frank Bartolo and Charles Hunsaker to Urban Renewal
Authority of Pueblo, Colorado.
Page 2
TRANSNATION TITLE INSURANCE COMPANY
Commitment No.: 7572673
SCHEDULE B
EXCEPTIONS
The policy or policies to be issued will contain exceptions to the
following unless the same are disposed of to the satisfaction of the
Company:
(9 Rights or claims of parties in possession not shown by the public
records.
Easements, or claims of easements, not shown by the public
v records.
Discrepancies, conflicts in boundary lines, shortage in area,
v encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the
public records.
04 Any lien, or right to a lien, for services, labor or material
theretofore or hereafter furnished, imposed by law and not shown
by the public records.
Defects, liens, encumbrances, adverse claims or other matters, if
any, created, first appearing in the public records or attaching
subsequent to the effective date hereof but prior to the date the
proposed insured acquires of record for value the estate or
interest or mortgage thereon covered by this Commitment.
Note: The above exception will not appear on policies where
closing and settlement has been performed by the company.
6. a. Taxes due and payable; and any tax, special assessments, charge
or lien imposed for water or sewer service, or for any other
special taxing district.
b. Any and all unredeemed tax sales, if any.
Note:Upon receipt of a Certificate of Taxes Due evidencing that
there are no existing open tax sales, the above exception 6b will
not appear on the policy to be issued hereunder.
Note:
PURSUANT TO CRS 10 -11 -122 NOTICE IS HEREBY GIVEN THAT:
(A) THE SUBJECT PROPERTY MAY BE LOCATED IN A SPECIAL TAXING
DISTRICT;
(B) A CERTIFICATE OF TAXES DUE LISTING EACH TAXING JURISDICTION
MAY BE OBTAINED FROM THE COUNTY TREASURER OR THE COUNTY
TREASURER "S AUTHORIZED AGENT;
(C) INFORMATION REGARDING SPECIAL DISTRICTS AND THE BOUNDARIES OF
SUCH DISTRICTS MAY BE OBTAINED FROM THE BOARD OF COUNTY
COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY
ASSESSOR.
Page 3
TRANSNATION TITLE INSURANCE COMPANY
Commitment No.: 7572673
SCHEDULE B - Continued
EXCEPTIONS
7. Any and all leases and tenancies.
Page 4
ISSUED BY
' TeA TITLE I NSURANCE COMPANY COMMITMENT FOR TITLE INSURANCE
Transnation
TRANSNATION TITLE INSURANCE COMPANY, an Arizona corporation, herein called the Company, for a valuable
consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed
Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in
Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the
Conditions and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or
policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this
Commitment or by subsequent endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and
obligations hereunder shall cease and terminate 120 days after the effective date hereof or when the .policy or policies
committed for shall be issued, whichever first occurs, provided that the failure to issue such policy or policies is not the fault
of the company.
IN WITNESS WHEREOF, TRANSNATION TITLE INSURANCE COMPANY has caused its Corporate Name and Seal to
be hereunto affixed; this instrument, including Commitment, Conditions and Stipulations attached, to become valid when coun-
tersigned by an Authorized Officer or Agent of the Company.
TRANSNATION TITLE INSURANCE COMPANY
Attest: v �j
Secretary
��co�lrrolt�r�o By:
r ff/t 11, 1991 ,�
* ARIZONA
President
Conditions and Stipulations
1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument.
2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter
affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B
hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability
for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so
disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company
otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company
at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the
Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included
under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in
reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions
shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment.
In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such
liability is subject to the insuring provisions, the Conditions and Stipulations, and the Exclusions from Coverage of the
form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and
are made a part of this Commitment except as expressly modified herein.
4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising
out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment
must be based on and are subject to the provisions of this Commitment.
PA 3
American Land Title Association Commitment - 1966
Cover Page
Form 1004248