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HomeMy WebLinkAbout10031RESOLUTION NO. 10031 A RESOLUTION APPROVING A SECOND MODIFICATION TO THE AGREEMENT DATED AS OF MARCH 27, 2003 BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND GARY ANZUINI AND IDA ANZUINI AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Second Modification to the Agreement dated as of December 22, 2003 between Pueblo, a Municipal Corporation and Gary Anzuini and Ida Anzuini, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. SECTION 2. The President is authorized to execute and deliver the Second Modification Agreement in the name of the City. INTRODUCED December 22, 2003 BY Al Gurule/Councilperson APPROVED: Bill Sova/President of City Council ATTEST: Gina Dutcher/City Clerk Background Paper for Proposed RESOLUTION 10031 DATE: December 22, 2003 DEPARTMENT: Law Department TITLE A RESOLUTION APPROVING A SECOND MODIFICATION TO THE AGREEMENT DATED AS OF MARCH 27, 2003 BETWEEN PU. EBLO, A MUNICIPAL CORPORATION AND GARY ANZUINI AND IDA ANZ. UINI AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council Approve the Modification Agreement? RECOMMENDATION None. BACKGROUND The AnzuJnis have requested a six month additional extension to the January 27, 2003 Purchase and Sale Agreement for a portion of HARP private property in order to obtain addition time to plan the project and resolve development issues. For additional information please review the attached December 5, 2003 letter from Mr. and Mrs. Anzuini. FINANCIAL IMPACT None. Second Modification A~eement This Second Modification Agreement entered into as of December 22, 2003 between Pueblo, a Municipal Corporation (Seller) and Gary Anzuini and Ida Anzuini (Buyer), Witnesseth Whereas, Seller and Buyer entered into a Purchase and Sale Agreement dated January 27, 2003 and a Modification Agreement dated March 27, 2003 (herein collectively the "Purchase Agreement"), and Whereas, Buyer has requested additional modifications to the Purchase Agreement which Seller is willing to grant upon the terms and conditions herein contained. Now therefore, in consideration of the foregoing and mutual covenants contained herein, Seller and Buyer agree as follows: 1. Section 3.1 of the Purchase Agreement is hereby amended to read as follows: The closing of the purchase of the Property (Closing) shall be at the offices of Title Company in Pueblo, Colorado. Closing shall take place no later than June 30, 2004. Seller shall designate the date and time of Closing. 2. The first sentence of Section 4.1 of the Purchase Agreement is amended to read as follows: Buyers shall have until May 31, 2004 (the Approval Date) to determine the feasibility of locating Buyers' planned project on the Property, 3. Section 6.6 of the Purchase Agreement is deleted in its entirety since Buyer does not intend to subdivide the Property. 4. Section VI of the Purchase Agreement is amended by adding the following new section 6.9: 6.9 Easements. Buyer shall grant to Seller easements for existing improvements on the Property which are by mutual agreement not to be removed by Seller. 5. The Purchase Agreement as amended and modified by this Second Modification Agreement shall remain in full force and effect, provided, that ifa conflict exists between the provisions of this Second Modification Agreement and the provisions of the Purchase Agreement, the provisions of this Second Modification Agreement shall control to the extent of such conflict. E~cuted at Pueblo, Colorado as of the day and year first above written. C( c,4~"'~-1-~_~ Pueblo, a Municipal Corporation . Gary Arv2~ni ~ .....