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HomeMy WebLinkAbout09829RESOLUTION NO. 9829 A RESOLUTION APPROVING AN AGREEMENT FOR SALE AND PURCHASE OF PROPERTY BETWEEN PUEBLO, A MUNICIPAL CORPORATION, AND THE HOUSING AUTHORITY OF THE CITY OF PUEBLO AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Agreement For Sale and Purchase of Property dated Apdl 14, 2003, betwccn Pueblo, a Municipal Corporation and The Housing Authority of the City of Pueblo (the "Agreement"), a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. .SECTION 2. The President of the City Council is authorized to execute the Agreement in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 3. Payments to be made by the City pursuant to the terms of the Agreement shall be paid from appropriated and unencumbered funds in Account No. 251-9540-600-80-50. INTRODUCED April 14, 2003 BY Al Gurule APPROVED: Councilperson President of City Council ATTEST: c~y~r~ Rev. 03/12/03 AGREEMENT FOR SALE AND PURCHASE OF PROPERTY Agreement made_~_r.L[_l~ _2_0_0,3between The Housing Authority of the Ci_ty of Pueblo (herein referred to as "Seller") and the City of Pueblo, a municipal corporation (herein "Purchaser"). 1. Sale. Seller shall sell and convey, and the Purchaser shall purchase, all of the real property described in Exhibit "A" attached hereto and incorporated herein located in Pueblo County, Colorado, together with all tenements, hereditaments, appurtenances, and easements thereunto belonging or appertaining, all buildings, structures, billboards, fixtures, additions and improvements thereon, and all adjacent vacated streets, alleys and public rights of way, if any (the "Property"). 2. Fixtures. [Reserved - N/A] 3. Purchase Price. The purchase price is Two Hundred Seventy-Three Thousand Six Hundred and No/100 Dollars (U.S. $273,600 ) to be paid in full at closing, subject to reduction in accordance with the provisions of paragraph 17(b) hereof. 4. Liens and Encumbrances. The Property is sold and will be conveyed free of all liens, charges, encumbrances, equities of any nature, rights of parties to or in possession, taxes and assessments, except current year taxes and Deed Construction Covenants in the form attached hereto as Exhibit "B." ..... 5. Marketable Title. Good and marketable title to the Property will be conveyed by Seller to Purchaser by general warranty deed in proper statutory form duly executed, acknowledged and ready for recording and by bill of sale. 6. Apportionments. The ad valorem taxes for the year of sale for both real and personal property, water and sewer charges, and other utilities will be apportioned as of the date of closing. All special assessments, if any, shall be paid in full by Seller. If the closing shall occur before current year taxes are fixed, the apportionment of taxes shall be based upon the prior year mill levy applied to the latest assessed valuation. 7. Closing. The date of closing shall be as determined by mutual agreement of Seller and Purchaser but shall be no later than May 30, 2003 . The time and place of closing shall be designated by Purchaser. 8. Seller's Representations. Seller represents and warrants: (a) Seller has full power and authority to execute, deliver and perform this Agreement and at closing all acts of Seller necessary and required for such execution, delivery and performance of tlfis Agreement will have been taken. (b) There is not pending or, to the knowledge of Seller, threatened any suit, action or proceedings against or affecting the Seller or the Property before or by any court, arbitrator, administrative agency or other governmental authority that materially and adversely affect the EXHIBIT "A" Legal Description: Lots 3 through 6, both inclusive, Block 1; and Lots 50 through 55, both inclusive, Block 3; and Lots 33 through 35, both inclusive, Block 3; and Lots 41 and 42, Block 3; all in Oakshire Hills Subdivision according to the recorded plat thereof, County of Pueblo, State of Colorado. -8-