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HomeMy WebLinkAbout09602RESOLUTION NO. 9602 A RESOLUTION DECLARING CERTAIN CITY OWNED PROPERTY AS SURPLUS PROPERTY AND AUTHORIZING SALE OF SAME WHEREAS, the property listed herein is presently owned by the City of Pueblo, A Municipal Corporation, and is hereby declared and determined to be surplus to the needs of the City, to -wit: NEly 8' Lot 23 and all Lot 24, Block 155 S Pueblo; and WHEREAS, the property was acquired with federal assistance from the U.S. Department of Housing and Urban Development's (HUD) HOME Investment Partnership Program, and the funds received from the sale of said properties constitute program income, under applicable HUD regulations which must be made available for HOME eligible activities; BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. All of the City's right, title and interest in and to the above - described real property shall be forthwith sold to Patrick Henrikson, as highest bidder, for said property. Documents shall provide that conveyance to the successful bidder be made by Quitclaim Deed subject to the covenants, restrictions and easements of record, existing physical conditions, and the requirements of law, including but not limited to zoning and building codes and other ordinances restricting the use of the property. SECTION 2. With respect to the conveyance, the President of the City Council is hereby authorized and directed to execute and deliver the Quit Claim Deed in the name of and on behalf of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 3. Net proceeds from the sale of this parcel of surplus property identified herein shall be deposited in Account No: 251 - 0000 - 368.38 -00. INTRODUCED: May 13, 2002 BY: Al Gurule COUNCIL PERSON APPROVED: C'.. PRESIDENT OF CITY COUNCIL ATTESTED BY: C Y CLERK CENTURY 21 New Frontier 1919 Hwy 50 W. Pueblo, CO 81008 Phone: (719) 542 -2121, Fax: (719) 542 -1031 The printed portions of this form, except (italicized) (differentiated) additions, have been approved by the Colorado Real Estate Commission. (AE41 -9 -00) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. AGREEMENT TO AMEND/EXTEND CONTRACT Date: May 01, 2002 RE: Contract dated April 19, 2002 between Patrick Henrikson (Buyer) and Pueblo Municipal Corp. (Seller), relating to the sale and purchase of the following described real estate in the County of Pueblo , Colorado: NELY 8 Ft Lot 23 all Lot 24 Block 155 S Pueblo known as No. 217 Madison St. Pueblo CO 81004 , ( Property). Street Address City State Zip Buyer and Seller hereby agree to amend the aforesaid contract as follows: § 2c. Dates and Deadlines Item No. Reference Event Date or Deadline 1 § 5a Loan Application Deadline n/a 2 § 5b Loan Commitment Deadline n/a 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 n/a 6 § 5d Objection to Existing Loan Deadline n/a 7 § 5d Approval of Loan Transfer Deadline n/a 8 § 6a Appraisal Deadline n/a 9 § 7a Title Deadline Mav 15 2002 10 § 7a Survey Deadline n/a 11 § 7b Document Request Deadline May 15 2002 12 § 7c, § 8a Governing Documents & Title Objection Deadline MaV 16 2002 13 § 8b Off - Record Matters Deadline May 17 2002 14 § 8b Off - Record Matters Objection Deadline May 20 2002 15 § 8e Right Of First Refusal Deadline n/a 16 § 10 Seller's Property Disclosure Deadline n/a 17 § IOa Inspection Objection Deadline n/a 18 § IOb Resolution Deadline n/a 19 § 11 Closing Date MaV 24 2002 20 § 16 Possession Date May 24 2002 21 § 16 Possession Time closin 22 § 28 Acceptance Deadline Date n/a 23 § 28 Acceptance Deadline Time n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Other dates or deadlines set forth in said contract shall be changed as follows: PREPARED BY AGENT: Helen Lambrecht, Associate Broker No. AE41 -1 -00 AGREEMENT TO AMEND /EXTEND CONTRACT. Colorado Real Estate Commission RealFA$T® Software, 02002, Version 6.10. Licensed to CENTURY 21 New Frontier, CENTURY 21 New Frontier Buyer(s) 05/14/02 16:19:48 N Page 1 of 2 Seller(s) ,w a' Additional amendments: Contract subject to approval by Pueblo City Council on May 13, 2002. All dates to be modified as needed. Property shall be conveyed from Seller to Buyer by Quit Claim Deed. Buyers remedy is limited to return of the earnest money deposit; Square Foot Disclosure and Property Disclosure will not be made or furnished by Seller, Seller will not correct unsatisfactory physical condition of the property. Property is being sold and purchased "AS IS" in its condition as closing. Seller makes no representation or warranty with respect to the condition of the property, physical or environmental - Buyer purchases the property based upon buyers own inspection of the property and not in reliance of any statements made by seller or its representatives. Title insurance shall not commit to delete or insure over the standard exemption. Conveyance shall be made by Quit Claim Deed. Seller will pay 5% real estate commission. All other terms and conditions of said contract shall remain the same. This proposal shall expire unless accepted in writing, by Buyer and Seller, as evidenced by their signatures below, and the offering party receives notice of acceptance on or before May 17, 2002 5: 00 Date Time Pueblo Municipal Corp. SELLER'S SIGNATURE By: Pueblo Municipal Corp. BUYER'S SIGNATURE pe�� Patrick Henrikson PREPARED BY AGENT: Helen Lambrecht, Associate Broker No. AE41 -1 -00 AGREEMENT TO AMEND/EXTEND CONTRACT. Colorado Real Estate Commission RealFA$TG Software, 02002, Version 6.10. Licensed to CENTURY 21 New Frontier, CENTURY 21 New Frontier 05/14/0216:19:48 DATE 5 -20 DATE Page 2 of 2 05/01%2002 12:37 ULN I UNY el t-KNUry L-MINL a 11'". c AdOionsi emendmmw may 13th. 2002. 411 dates to be contract .object to approval by pueblo city comcil on modified ae needed. am Seller to Buyer by � =i. = -� Clete deed, Buyers Remedy is limited to Property shall be conveyed fr return of the earnest money deposit; square foot disclosure and property All other tame and coadit'pns at said contract ahAU remain the same, cww bebw, end the offarinS party receive. 1 shall eo tudcse aeceptaa °n writing, by ijayer and Seller as evidenced try their eignat� 'MIS pro1� a �Ti�. - ---- nodoo of soetptaace ca or bofm 1 Date TIME Puebla Municipal coZP• DATE --5 .� SELLER'S SIGNATUU 13Y.. Pueblo M=iaipal Co rp - DATE � .� � - b�•- BUYER'S S ONAMM pstrick Hanrikaon Disclosure will not be made or furnished by Seller, Seller will not correct un- satisfactory.physical condition of the property, property is being sold-and purchased "AS IS" in its condition at closing. Seller makes no representation or warranty with respect to the condition of the property, physical or enviitinmental - Buyer purchases the property based upon buyers own._insp-ecta.osttl.t t-re- property and not in reliance of any statements made by- seller or its representatives Title insurance shall not commit to "delet&e or• insure""over the standard exemption. Conveyance shall be made by Quit Claim Deed. Seller will pay :..5% real estate commission balance of commission will be paid by buyer. PREPAAtSt �Y AOENiT: FtaMet L�n�nahR, Asr+o�� Oskar n 06 zeta* camm l4WQn Na At t • t -00 At3it.EMENT TO AM &'�QIEXTEND CONTRACT. GdonW R P�� R�1FAi1 g aR003, Version 8.40. l loe►naetl to CENTURY 21 Car= Llond8<� . Z F- ��YUkiY 21 Callon L�0 A hY. CO b. , Instruments of Transfer•. The Inclusions are to be conveyed at Closing free and clear of all taxes, liens and encumbrances, except as provided in § .12. Conveyance shall be by bill of sale or other applicable legal instrurnent(s). Any water rights shall be conveyed by n /a 'deed or other applicable legal instruments(s). c. Exclusions. The following attached fixtures are excluded from this Sale: a. Eaniest. Money, The Earnest Money set forth in this Section, in the form of PERSONAL CHECK is part payment ofthe Purchase Price and shall be payable to and held by: SECURITY TITLE in its trust account, on behalf of both Seller and Buyer. The parties authorize delivery ofthe Earnest Money deposit to the Closing Company, if any, at or before Closing. b. New Loan. [Omitted - Not Applicable] c. . Assumption. [Omitted - Not Applicable] d. Seller or Private Financin [Omitted - Not Applicable] e. Cash.at Clasiuz. 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 an cashier's check (Good Funds). d 5. FINANCING CONDITIONS AND OBLIGATIONS: a LoanAoDlication (Omitted -Not Applicable] b. Loan Commitment [Orriit'ed -Not Applicable] C. Credit Informat on. [Omitted - Not Applicable] d. E:istine Loan Review [Omitted - Not An 6. APPRAISAL PROVISIONS. a. �raisal Conditions (1) No ADDraisa►Condition This subsection a shall not apply. . obli (2) FW L It is expressly agreed that notwithstanding any other provisions of this contract, the Purchaser (Buyer) shall not be gated to complete the purchase of the Property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the Purchaser (Buyer) has been given in accordance with HUD /FHA or VA requirements a written statement by the Federal Housing Commissioner, Veterans Administration, or a Direct Endorsement lender setting forth the appraised value of the Property of not less than °/a •egard to the amount of the (Buyer) shall have the privilege and option of proceeding with consummatio 6 .The Purchases' n of the contract without lousing and Urban Development will ins appraised valuation. The appraised valuation is arrived at to d e etermin the maximum mortgage the Department of ure. HUD does not warrant the value nor the condition of the Property : The Purchaser (Buyer) should atisfy himseigherself that the price and condition of the Property are acceptable. (3). VA. WBuyer is to pay the Purchase Price by obtaining *a new VA- guaranteed loan, it is agreed that, notwithstanding any other rovisions of this contract, Buyer shall not incur any penalty by forfeiture of earn est money or otherwise be obligated to complete the purchase ofthe roperly described herein, if the contract Purchase Price or cost exceeds the reasonable value of the Property established by the Veterans Aministration. Buyer shall, however, have the privilege and option of proceeding with the consummation of this mount ofthe reasonable value established by the Veterans Administration. contract without regard to the ] • (4) Other. Buyer shall have the sole option and election to terminate this contract if the Purchase Price exceeds the Property duation determined by an appraiser engaged by n/a 's 'lice of termination and either a copy such The contract shall terminate by Buyer giving Seller written rrhase Price, received on or before Hue A PPr elsal Deadli appraisal or notice from lender which confirms the Property's valuation is less than the ne (§ 2c). If Seller does not receive such written notice of termination on or before the Ppraisal Deadline (§ 2c), Buyer waives'any right to terminate under this subsection. b. Cost ofAppraisaL Cost of arty appraisal to be obtained after the date of this contract shall be timely paid by ❑Buyer ❑ Seller.. EVIDENCE OF TIME Eviden sent commitment ce of Title Survey On or before Title Deadline (§ 2c), Seller shall cause to be furnished to Buyer, at Seller's expense, a for owner's tide insurance policy in an amount equal to the Purchase rice or if this box is checked, ❑ An Abstract of title tified s which relate to: a t date. If a title insurance commitment is furnished, it ❑Shall :cations Shall Not commit to delete or insure over the standard (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) any unrecorded mechanics' liens, ( gap prod (effective date of commitment to date deed is recorded), and (6) unpaid taxes: assessments and u nredeemed'tax sales prior to the year of Closing. 20 A additional premium expense to obtain this. additional coverage shall be paid by Seller. An amount not to exceed' 00 rty for the cost of arty improvement location certificate or survey shall be paid by o B er ❑ amount, Buyer shall pay the excess on or before Closing unless Buyer delivers to Seller or Li aY Sher• p the cost exceeds ficate or survey is ordered, Buyer's written notice knowin the ex g Comparry, before the improveiriarnt location be received by Buyer on or before Sury Deadline g exception for survey matters. The improvement location certificate or survey Scable at or after Closing. (§ Zc).. Seller shall cause the title insurance poli b. Copies of Eztxptions cy to be delivered to Buyer as soon as .On or before Title Deadline (§ 2c), Seller,; at Seller's expense, shall furnish to Buyer, (1) a'copy of any plats, rations, covenants, conditions and restrictions burdening the Property, and (2) if a title insurance commitment is required to be furnished, and box is checked ®Copi�ofanyO therpocuments -(or, if illegible, summaries of such documents) listed in the schedule of exceptions rations). Even the box is not checked, Seller shall have the obligation to famish these documents pursuant to this subsection if requested by before the Docum r any time On or ent Request Deadline ( §. 2c). This require rnernt shell pertain o to documents as shown of record in e th of the clerk and , c co o n der stitutee title docu . The abstract or title insurance commitment, together with any copies or summaries of such documents famished ant to this Section nute thments (Title Documents). c. ' Common Interest Communi Governia Documents• (1) NotA_ ppli__able. This subsection c. shall not apply. (2) Conditional on Buyer's Review Seller shall cause to be furnished to Buyer 'at Seller's expense, on or before Title Deadline :D BY AGENT. Mark chorale, Broker. Associate ' 9, Conbod to Buy and Sea Real Estate (Residential), 6/3/99. Colorado Real Estate Commission D 02002, Version 6. to. Licensed to BAan Housman, Coldwet Banker Partners Real Estate w 9021 ^<:55:55 Page,2 or a Seger(*) PURCHASE PRICE AND TE1IMS. The Purchase Price, set forth below Shall be payable in U. S. Dollars by Buyer as follows: Documents "), most recent financial documents consisting of (a) annual balance sheet, (b) annual income and expenditures statement, and (c) annual budget ( herein collectively "Financial Documents "), if any. Written notice of any unsatisfactory provision(s) in any of these documents signed by Buyer, or on behalf of Buyer, and given to Seller on or before Governing Docuinents Deadline, (which is the same as Title Objection Deadline (§' 2c)], shall terminate this contract. If Seller 'does not receive written notice from Buyer within such time, Buyer accepts the terms of said documents, and Buyer's right to terminate this contract pursuant to this subsection is waived, notwithstanding the provisions of § 8d. _Q (3) Not Conditional on Review. Buyer acknowledges that Seller . has delivered a copy of the Governing Documents and Financial locurnents. Buyer has reviewed them, agrees to accept the benefits, obligations and restrictions which they impose upon the Property and its owners end waives any right to terminate this contract due to such documents, notwithstanding the provisions of § 8d. S. TITLE. a. Title Review. Buyer shall have the right to inspect the Title Documents. Written notice by Buyer of unmerchantability of title or of 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 Title Objection Deadline (§ 2c), or within five (S) calendar days after receipt by Buyer of any Title Document(s) or endorsement(s) adding new 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 notice by the date(s) specified,above, Buyer accepts the condition of title as disclosed . by the Title Documents as satisfactory. b. Matters not Shown by the°Public Records Seller shall deliver to Buyer, on or before Off -Record Matters Deadline (§ 2c) true 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 matters not shown by the public records of which Seller has actual knowledge. Buyer shalt have the right to inspect the Properly to determine if 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 line piscrepancy). Written notice of any unsatisfactory condition(s) disclosed by Seller or revealed by such inspection shall be signed by or on behalf of Buyer and given to Seller on or before Off - Record Matters Objection Deadline (§ 2c). If Seller does not receive Buyer's notice by said date, Buyer accepts title subject to such rights, if any, of third parties of which Buyer has actual knowledge. c. Special Taxing Districts .SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM .ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL. LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYER SHOULD INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS; EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL FOR ANINCREASE IN SUCH MILL LEVIES. 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 received by Seller on or before Off Record Matters Objection Deadline (§ 2c) all then terminate. If Seller does not receive , this contract shall Buyer's 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. d. Right to Cure. If Seller receives notice of unmerchantability of title or any other unsatisfactory title condition(s) or commitment terms as provided in § 8 a or b above, Seller shall use reasonable effort to correct said items and bear any nominal e prior to expense to correct the sam Closing. If such unsatisfactory title condition(s) are not corrected on or before Closing, this contract shall then terminate; provided, however, Buyer may, by written notice received by Seller, on or before Closing, waive objection to such items. e. Right of First Refusal If the Governing Documents require written approval of the sale contemplated by this contact or waiver of �.y option or right of first refusal by the:owners' association or any other owner in the owners' association Seller shag timely submit this contract and request approval of the sale or waiver of any option or -right of first refusal pursuant to such provisions. If no such approval or waiver is obtained on or before Right of First Refusal Deadline ( §. 2c); this contract shall terminate. Buyer agrees to cooperate, with Seller-in obtaining the approval and/or waiver if required by the applicable Governing Documents and shall make available such information as the owners' association may reasonably require. f. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including without limitation boundary lines and encroachments, area, zoning, unrecorded easements and claims of easements, leases and other SU unrecor ESTATE MAY ded agreements, and various laws and governmental regulations concerning land use, development and environmtal BE OWNED SEPARATELY DE IrROM TR THE UNDERLYING MINERAL ESTATE, AND en TRANSFER OF matters. THE THE SURFACE ESTATE DOES NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL RIGHTS. THIRD PARTIES MAY BOLD INTERESTS IN OIL, GAS, OTHERMINERALS, GEUTHERMAI ENERGYORWATERONORUNDER RIGHTS TO ENTER AND USE THE PROPERTY. Such matters may excluded from THEM om the title insurance policy. Buyeris advised to timely consult M '4T counsel with respect Record Matters Objection all such matters o° Deadline (§ 2c]) . there are strict time limits .provided in this contract (e.g., Tide objection Deadline [§ 2c] and ti r• LEAD -BASED PAINT Unless exem if the improvements on the Property anldng permit was issued prior to January I, 1978, Or more residenal dwelling(s) for ch a igned this contract shall be void unless a Lead -Based Paint Disc Disclosure (Sales) form is by Seller and the required real estate licens 0. ee(s ); which must occur prior to the parties signing this contract T04 wi►ri � .... .. _ waoec°onvbrEMORDeadtine. Buyer. shah. have the right to have inspeCti of the physical condition of the Property and on(s) uclusions at Buyer's expense. If the physical condition of the Property or Inclusions is pecti n(s) in r or before Inspection Objection Deadline Q 2c): unsa Buyer's subjective discretion, Buyer shall, (1) notify Seller in writing that this contract is terminated, or } (2) er wr If written notice's not received by Seller on or before Ins Objection D e tsions shall be deemed to be satisfactory to Buyer.eadline (§ 2c), the physical condition of the Property and b.. Resolution Deadline. If a Notice to Correct is received by Sellei and if Buyer and Seller have not agreed in writing to a settlement � re such or before ResolutiorrDeadline (§ 2c ), this contract shall terminate one calendar day following the Resolution Deadline (§ 2c), unless Fore suc termination Seller receives Buyer's written withdrawal of the Notice to Correct. t Damage• Liens• Indemnity Buyer is responsible for*payment for all inspections, surveys, engineering reports or for any other work formed at Buyer's request and shall pay for d mit claims or liens of any kind against the Pr perty for survey the Property and Inclusions as a resuilt of such activities. Buyer shall not 3uyees request Buyer agrees to i engineering reports and for any other work performed on the Property ler m an Connection with such ' ��'' protect or l li hold Seller harmless from and against any liability, damage, cost.or expense incurred by Y Inspection claim or en. This indemnity includes Seller's right to recover all costs and expenses incurred by 'er to enforce this subsection, including Sellens reasonable attorney fees. The provisions of this subsection shall survive the termination of this tract. CLOSING. Delivery of deed(,) from Seller to Buyer shall be at Closi e (§ 2c) or by mutual ng (Closing). Closing shall be on the date specified as the Closing agreement at an earlier date. The hour and pla TRANSFER OF TITLE, Subject to.tenlfer or payment ce of Closing shalt be as designated by BUYER AND SELLER at Closing as required herein and compliance by Buyer with the other terms and ons hereof S isieller shall execute and deliver a good and sufficient -tiB n r visa o o r.r, y 1 e 1 y free and clear of all taxes except the.general taxes for deed to Buyer, at Closing, conveying the I liens, i ncluding any governmental liens for p Y� of Closing. Except as provided Herein title shall be conveyed free and clear shall be conveyed subject to: special im rovernents installed as of the date of Buyer's signature hereon, whether assessed or not a those specific Exceptions described'by reference to recorded documen rdan with § 8a [Title Review) ts as reflected in the Title Documents accepted by Buyer in , b. distribution utility easements (including cable TV), :ED BY AGENT; Mark Chorak, Broker Associate 99, Contract to Buy and Sell Real Estate (Residential), 6/3/99. Coforsdo Real Estate Commission fe sanware, 02002. Version e.1 o. Licensed to Brian Hausman. Cddwea Banker. Partners Real Estate . (4/1910212 :55:55. Page 3.or e Seller(,) were accepted by Buyer in accordance with § 8b [Matters Not Shown by tlhs Public Records], and d. inclusion of the Property within any special taxing district, and e. the benefits and burdens of any declaration and party wall agreements, if any, and f. other ri /a 13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from the proceeds of this ...transaction or frm o arty other source. 1. CLOSING COSTS, DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds, their respective Closing costs and all other items required to be paid -at Closing, except as otherwise provided herein. Buyer and Seller shall sign and complete all customary or reasonably required documents at br before Closing -Fees for real estate Closing services.-shall- be paid at Closing by N One -Half by Buyer and One- Half.by Seller "0 Buyer 0 Seller 0 Other n/a Any.fees incident to the transfer from Seller to Buyer assessed on or on behalfof the owners' association shall be paid by ❑ Buyer 0 Seiler. The local transfer tax of ' n/a % of the Purchase Price shall be paid at Closing by 0 Buyer 0 Seller. Any sales . and use tax that may accrue because'of this transaction shall be paid when due by 0 Buyer O'Seller. 15. PROBATIONS. The following shall be prorated to Closing Date (§ 2c), except as otherwise provided: a. Taxes. Personal property taxes, if any, and general real estate taxes the year of Closing, based on The Taxes for the Calendar Year Immediately Preceding Closing 0 The Most Recent.Mill Levy and Most Recent Assessment 0 Other n/a b. Rents. Rents based on 0 Rents Actually Received 0 Accrued. Security deposits held by Seller shall be credited to Buyer. Seller shall assign all leases to Buyer and Buyer shall assume such. leases. to Association Assessments. Current regular owners' association assessments and association. dues. Owners' association assessments paid in advance shall be credited to Sellerat Closing. Cash reserves held out of the regular owners' association assessments for deferred maintenance by the owners' association shall not be credited to Seller except as may be otherwise provided by the Governing Documents. Any special assessment by the owners' association for improvements that have been installed as of the date of Buyer's signature hereon shall be the obligation of Seller. Any other special assessment assessed prior to Closing Date (§ 2c) by the owners' association shall be the obligation of 0 Buyer 0 Seller. Seller represents that the amount of the regular owners' association assessment is currently payable at S n /a per n/a and that there are no unpaid regular or special assessments against the Property except the current regular assessments and except n/a Such assessments are subject to change as provided in the Governing Documents. 'Seller agrees to promptly request the owners' association to deliver to Buyer before Closing Date (§ 2c) a current statement of assessments against the Property. Any fees incident to the issuance of such statement of assessments shall be paid by O buyer 0 Seller. d. Loan Assumption - Murteaee insurance. FHA or private mortgage insurance premium, if any, 0 Shall 0 Shalt Not be apportioned to Closing Date (§ 2c). Any such amount shall be apportioned as follows: e. OtherProrations. Water, sewer charges; and interest on continuing loan(s), if any; and E Final Settlement. Unless otherwise agreed in writing, these proration shall be frial. 16. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date and Possession Time (§ 2c), subject to the following leases) or tenancy(s): If Seller, after Closing, fails to deliver possession as specified, Seller shall be subject to eviction and shall be additionally liable to Buyer for payment of S 7 5.00 per day from the Possession Date (§ 2c) until possession is delivered. -Buyer 0 Does ® Does Not represent that Buyer will occupy the Property as Buyers principal residence. 17. NOT ASSIGNABLE. This eohtract shall not be assignable by Buyer without Sellers prior written consent. Except as so restricted, this contract shall mure to the benefit of and be binding upon the heirs, personal representatives, successors and assigns of the parties. 18. CONDITION OF AND DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided in this contract, the Property, Inclusions or both shall be delivered iii the condition existing as of the date of this contract ordinary wear and tear excepted. a Casualri: Insurance Tn the event the of not Property or Inclusions shalt be damaged by fire or other casualty prior to Closing, in an amount more than ten percent of the total Purchase Price, Se(!er 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 Seller this contract may be terminated at the option of Buyer by delivering to written notice of termination. Should Buyer elect to for all carry out this contract despite such damage, Buyer shall be entitled to a credit, at Closing, die insurance proceeds resulting filar such damage to the Property and Inclusions payable to Seller but not the owners' association, if any, plus the amount of airy deductible provided for in such insurance po licy, such credit not to exceed the total Purchase Price. b. Damage: Inclusions- Services Should any Inclusion(s) or services) (including systems and components of the Property, e.g. heating, 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 Went that the maintenance or replacement of such Inclusion(s), service(s) or fixture(s) is not the responsibility of the owners' association, if any, '.ess arty insurance proceeds received by Buyer covering such repair or replacement. Seller and Buyer are aware of the existence of pre -owned home Narranty Programs which may be purchased and may cover the repair or replacement of some Inclusion(s). c. Walk- Throne,h• Verification ofCondition Buyer, upon reasonable notice, shall have the right to walk through the Property prior to .losing to verify that the physical condiuop of the Property and Inclusions complies with this contract 9. . RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer and Seller acknowledge that the Selling ^*ipany or the Listing Comparry has advised tha t this document has important legal consequences and has recommended the examination of title :onsultation with legal and tax or other counsel before signing this contract U. TIME OF ESSENCE AND REMEDIES. Time is of the essence hereof. If any note or check received as Earnest Money hereunder or any then payment due hereunder is not paid, honored or tendered when due, or if any other obligation hereunder is not performed or waived as herein rovided, there shall be the following remedies: IL If Bu is in.Default. (1) Specific Performance Seller mayelect to treat this contractors canceled, in which case all payments and things of value received areunder 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 )ntract as being in full force and effect and Seller shall have the right to specific performance or damages, or both. ] (2) UQH0ated Damages All payments and things of value received hereunder shall be forfeited by Buyer and retained on behalf ' Se and bosh parties shall thereafter be released from all obligations hereunder. It is agreed that such payments and things of value are e obligations of thi `.QUIDATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE AND ONLY REM9DY for Buyers failure to perform s contract. Seller expressly waives the remedies of specific performance and additional damages. b. IC Seller is in Default. Buyer may elect to treat this contract a5 canceled, in which case all reunder shall be returned Payments and things of value received G Costs and E:peoaes In the event of any arbitration or litigation. relating to this contract,. the arbitrator or court shall award to the :veiling Parry all reasonable costs and expenses, including attorney fees. MEDIATION. If a dispute arises relating to this contract, prior to or after Closing, and is not resolved the parties shall first proceed in od faith to submit the matter to mediation Mediation is a process in which the parties meet with an impartial person who helps to resolve the Pute informally and confidentially. Mediators cannot impose binding decisions. The parties to the dispute must agree before any settlement is ABED BY AGENT: Mark Chorak, Broker Associate . -9-99, Corbadto Buy and Set Real Estate (Residentlal), 8/3/99. Colorado Real Estate Commission 02002, Version 6. to. Uceneed to Brian Housman, Cddxea Banker Partners Real Estate 0411910212:55 :55 Page 4 of 6 Sellers) otherwise agreed, shall terminate in the event the entire dispute is not resolved 30,. calendar days trom the date written nonce reqummi; utouiauuu is sent by one party to the other(s). This Section shall not alter any date in this contract, unless otherwise agreed. 22, EARNEST MONEY DISPUTE: Notwithstanding any termination of this contract, Buyer and Seller agree that, in the event of any controversy regarding the Earnest Money and things of value held by broker or Closing Company (unless mutual written instructions are received by the holder of the Earnest Money and things of value), broker or Closing Company shall not be required to take any action but may await any -Qroceeding, or at broker's or Closing Company's option and sole discretion, may interplead all parties and deposit any moneys or things of value to a court of competent jurisdiction and shall recover court costs and reasonable attorney fees. A3. 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, 21 and 22. 24. ADDITIONAL PROVISIONS. (The language of these additional provisions has not been approved by the Colorado Real Estate Commission.) 25. ENTIRE AGREEMENT; SUBSEQUENT MODIFICATION; SURVIVAL. This contract constitutes the entire contract between the parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated into this contract No subsequent modification of any of the terms of this contract shall be valid, binding upon the parties, or enforceable unless made 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 shall survive the same. 26. FACSIMILE. Signatures (9 May ❑ May Not be evidenced by facsimile. Documents with original signatures shall be provided to the other party at Closing, or earlier upon request of any party. 27. NOTICE. Except for the notice requesting mediation described in § 21, any notice to Buyer shall be effective when received by Buyer or by Selling Company and any notice to Seller shalt be effective when received by Seller or Listing Company. 28. NOTICE OF ACCEPTANCE: COUNTERPARTS. This proposal shall expire unless accepted in writing by Buyer and Seller, as evidenced by their signatures below, and the offering party receives notice of acceptance pursuant to § 27 on or before Acceptance Deadline.0ate and Acceptance Deadline Tmte (§ 2c). If accepted, this document shall become a contract between Seller and Buyer. A copy of this document may be executed by each pally, separately, and when each party has executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties. BUYER /iGJti� PATRICK HENRIKSON . DATE '� - l az [NOTE: If this offer is being countered or rejected, do not sign this document. Refer to § 2% SELLER 29. COUNTER; REJECTION. This offer is ❑ Countered U Rejected. Initials only of party (Bayer or Seller) who countered or rejected offer END OF CONTRACT DATE Note: Closing Instructions should be signed on or before Tide Deadline. BROKERACKNOWLEDGMENTS The undersigned Broker(s) acknowledges receipt of the Earnest Money deposit specified in § 4 and, while not a party to the contract, agrees to cooperate upon request with any mediation conducted under § 21. Selling Company Broke eRelationshi L The Selling Company and its licensees have been engaged in this transaction as ❑ Buyer Wit . Seller Agent/Subagent U Dual Agent ® Transaction- Broker. Liatin Com an Brokers eRela6onshi . The Listing Company and its licensees have been engaged in this transaction as Se Ifer Agent Dual Agent Transaction- Broker. BROKERS' COMPENSATIONDLSCLOSURE felling Company's compensation or commission is to be paid by: [I Buyer C1 Seller ❑ Listing Company ❑ Other i/a To be completed by Listing Company) Listing Company's compensation or commission is to be paid by ❑ Buyer Q Seller ❑ Other i/a -ling I-ompany: PARED BY AGENT: Mark Chorak, Broker Associate 19.99, Contract to Buy and Sell Real Estate (Rdaidential), 6/3/99. Colorado Real Estate Commissi FA;r® -Software. 02002, Version 6.10. Licensed to Brian Housman, Coldwet Banker Penn!" Real Estate 04/19/0213:07:00 Page 5 of 6 Coldwell Banker Partners Real Estate 415 North Grand Avenue Pueblo, CO 81003 Phone: 719 -583 -8383, Fax: 719 -583 -1999 By: . Signature Mark Chorak Date Listing Company: CENTURY 21 (NameofCompany) B y' - Signature n/a Date Listing Company's Address: n/a Listing Company's Telephone No: n/a Listing Company s Fax No: n/a RED BY AGENT: Mark Chorak, Broker Associate 1-99, Contract to Buy and Sal Real Estate (Residential), 8/9/99. Colorado Real Estate Commission � ^are, 92002, V �T® Tor ersicn 8.10. Licensed to Brian Housman, Coldwell Banker Partners Real Estate 04119/02 12.55:55 Page 6 of 6 Seller(s) _-