HomeMy WebLinkAbout11703RESOLUTION NO. 11703
A RESOLUTION APPROVING A CONTRACT TO BUY AND
SELL REAL ESTATE BETWEEN CITY OF PUEBLO, A
MUNICIPAL CORPORATION, AND POSADA, A
COLORADO NON - PROFIT CORPORATION RELATING TO
THE ACQUISITION OF REAL PROPERTY FOR A POLICE
SATELLITE FACILITY, AUTHORIZING THE PRESIDENT
OF THE CITY COUNCIL TO EXECUTE SAME, AND
TRANSFERRING $124,000.00 FROM THE POLICE
BUILDING CAPITAL PROJECT FUND FOR SUCH
PURPOSE
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SFrTinN 1
The Contract To Buy And Sell Real Estate dated as of September 28, 2009
between the City of Pueblo and Posada ( "Contract') relating to the acquisition of real
property for a police satellite facility ( "Property "), a copy of which is attached hereto,
having been approved as to form by the City Attorney, is hereby approved. The
President of the City Council is authorized to execute and deliver the Contract in the
name of the City.
SECTION 2.
Funds in an amount of $124,000.00 are hereby transferred from the Police
Building Capital Project Fund for the purchase of the Property.
SECTION 3.
The officers of the City are directed and authorized to perform any and all acts
consistent with the intent of this Resolution and attached Contract to effectuate the
transaction described therein. The City Attorney is authorized to execute on behalf of
the City all closing documents necessary and required to purchase the Property.
SECTION 4.
This Resolution shall become effective upon final approval and passage.
INTRODUCED: September 28, 2009
F-W
Michael Occhiato
A77TSTDD SY:
CITY CLERK
} C � OUNCILPERSON
APPR 0' } �,
PRESIDENTaf Cfty Council
[ D E
ED
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # M -3
DATE: September 28, 2009
DEPARTMENT: Law Department
TITLE
A RESOLUTION APPROVING A CONTRACT TO BUY AND SELL REAL ESTATE
BETWEEN CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND POSADA, A
COLORADO NON - PROFIT CORPORATION RELATING TO THE ACQUISITION OF
REAL PROPERTY FOR A POLICE SATELLITE FACILITY, AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME, AND TRANSFERRING
$124,000.00 FROM THE POLICE BUILDING CAPITAL PROJECT FUND FOR SUCH
PURPOSE
ISSUE
Should City Council approve the purchase of 731 E. 4th Street, Pueblo, Colorado for a
proposed police satellite facility?
RECOMMENDATION
Staff recommends approval
BACKGROUND
City will purchase from Posada the building located at 731 E. 4 Street, Pueblo,
Colorado (the "Property ") for a purchase price of $124,000 in accordance with the terms
and conditions of the Contract To Buy And Sell Real Estate ( "Contract ") attached to the
Resolution. The closing is to occur November 28, 2009. Fee simple title to the Property
free and clear of liens and encumbrances except those encumbrances approved by the
City by general warranty deed. City will conduct appropriate tests and studies for the
property to determine if feasible for a police satellite facility and free of environmental
contamination. Posada's original purchase price was $128,000, City's appraiser valued
the property at $120,000. The $124,000 purchase price is a compromise between
$128,000 and $120,000.
FINANCIAL IMPACT
$124,000 will be transferred for the purchase of the property out of the Police Building
Capital Project Fund.
1310 Hwy: 50 West
Pueblo; CO 81008
Phone: 719-583-8383
Fax: 719-583-1999
109 S. Burlington Drive
$ Pueblo West, CO 81007
Phone: 719-547-8686
PARTNERS Fax: 719 -547 -7323
REAL ESTATE
The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
(CBS 1 -5 -09) (Mandatory 7 -09)
THIS FORM HAS IMPORTANT "GAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL
BEFORE SIGNING.
CONTRACT TO BUY AND SELL REAL ESTATE
7 Date: Sevtember 28, 2009
8
9 1. AGREEMENT. Buyer agrees to buy, and Seller agrees to sell, the Property defined below on the terms and conditions set forth
10 in this contract (Contract).
11 2. DEFINEDTERMS.
12 2.1. Buyer. Buyer,
13 City of Pueblo a Municipal Corporation .
14 , will take title to the real property described below as ❑ Joint Tenants ❑ Tenants In Common C1 Other
15 N/A
16 2.2. Property. The Property is the following legally described real estate in the County of Pueblo
17 Colorado:
18 EASTERLY 6 FT OF LOT 15, ALL OF LOT 16, ELK 27, BAST PUEBLO, COUNTY OF PUEBLO, STATE OF COLORADO.
19
20
21
22
23
24
25
known as No
731 E 4th Street Pueblo Colorado 81001
Street Address City State Zip
together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, and all interest of
Seller in vacated streets and alleys adjacent thereto, except as herein excluded.
2.3. Dates and Deadlines.
Item No.
Reference
Event
Date or Deadline
1
§ 4.2.1
Alternative Earnest Money Deadline
N/A
2
§ 5.1
Loan Application Deadline
N/A
3
§ 5.2
Loan Conditions Deadline
N/A
4
§ 5.3
Buyer's Credit Information Deadline
N/A
5
§ 5.3
Disapproval of Buyel's Credit Information Deadline
N/A
6
§ 5.4
Existing Loan Documents Deadline
N/A
7
§ 5.4
Existing Loan Documents Objection Deadline
N/A
8
§ 5.4
Loan Transfer Approval Deadline
N/A
9
§ 6.2.2
Appraisal Deadline
October 23, 2009
10
§ 6.22
Appraisal Objection Deadline
October 30, 2009
11
§ 7.1
Title Deadline
October 09, 2009
12
§ 7.2
Document Request Deadline
October 15, 2009
13
§ 7.3
Survey Deadline
October 23, 2009
14
§ 7.4.4.1
CIC Documents Deadline
N/A
15
§ 7.4.5
CIC Documents Objection Deadline
N/A
16
§ 8.1
Title Objection Deadline
October 23, 2009
PREPARED BY: Sylvia Noreaehlni, Broker Associate
CBS1 -6-08, CONTRACT TO BUY AND SELL REAL ESTATE. ColonWo Real Estate Commission
RealFA$T0 Software, 02000, Version 6.16. Software Registered M: Russel A. DeSelvo III, Cokly ell Banker Partners Real Estate
Buyer(s)
Page 1 of 12
Seller(s)
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27
28
29
30
31
32
33
34
35
36
37
38 3.
39
40
41
42
43
44
2.4. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N /A"
or the word "Deleted" means not applicable and when inserted on any lime in Dates and Deadlines (§ 2.3), means that the
corresponding provision of the Contract to which reference is made is deleted. The abbreviation "MEC" (mutual execution of
this Contract) means the date upon which both parties have signed this contract.
2.5. Day; Computation of Period of Days, Deadline.
2.5.1. Day. As used in this Contract, the tens "day" shall mean the entire day ending at 11:59 pm., United States Mountain
Time (Standard or Daylight Savings as applicable).
2.5.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified,
the first day is excluded and the last day is included, e.g., three days after NEC. If any deadline falls on a Saturday, Sunday
or federal or Colorado state holiday (Holiday), such deadline ® Shall ❑ Shall Not be extended to the next day that is not
a Saturday, Sunday or Holiday. Should neither box be checked, the deadline shall not be extended.
INCLUSIONS AND EXCLUSIONS.
3.1. Inclusions. The Purchase Price includes the following items (Inclusions):
3.1.1. Fixtures. If attached to the Property on the date of this Contract, lighting, heating, plumbing, ventilating, and air
conditioning fixtures, TV antennas, inside telephone, network and coaxial (cable) wiring and connecting blocks/jacks,
plants, minors, floor coverings, intercom systems, built -in kitchen appliances, sprinkler systems and controls, built-in
vacuum systems (including accessories), garage door openers including N/A remote controls; and ❑
N/A
45 3.1.2. Personal Property. The following are included if on the Property whether attached or not on the date of this
46 Contract: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, curtain rods,
47 drapery rods, fireplace ins fireplace screens fir grates, heating stoves, storage sheds, and all keys. If checked,
48 the following are included Water Softeners INSmokelFireDetectors ❑ Security Systems ❑ Satellite Systems
49 (including satellite dishes).
50 3.1.3. Other Inclusions.
51 Refrigerator,range /oven,range hood.
52 The Personal Property to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes (except personal
53 property taxes for the year of Closing), liens and encumbrances, except
54 N/A
55 Conveyance shall be by bill of sale or other applicable legal instrument.
56 3.1.4. Trade Flxtures. With respect to trade fixtures, Seller and Buyer agree as follows:
57 NIA
58 The Trade Fixtures to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes (except personal
59 property taxes for the year of Closing), liens and encumbrances, except
60
PREPARED BY: Sylvia Moreschini, Broker Associate
CBSt -5.08, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Real Estate Commission
ResIFA$T0 Software, 02009, Version 6.16. Software Registered to: Russell A. DeSslvo 111, Coldwell Banker Partners Real Estate
Pegs 2 of 12
Buyer(s) — Seller(s) _
17
§ 8.2
Off - Record Matters Deadline
October 09, 2009
18
§ 8.2
Off - Record Matters Objection Deadline
October 23, 2009
19
§ 8.32
Survey Objection Deadline
October 30, 2009
20
§ 8.6
Right of First Refusal Deadline
N/A
21
§ 10.1
Seller's Property Disclosure Deadline
September 30, 2009
22
§ 10.2
Inspection Objection Deadline
October 30, 2009
23
§ 10.3
Inspection Resolution Deadline
November 06, 2009
24
§ 10.5
Property Insurance Objection Deadline
October 30, 2009
25
§ 12
Closing Date
November 28, 2009
26
§ 17
Possession Date
Date of closing
27
§ 17
Possession Time
Time of Closing
28
§ 32
Acceptance Deadline Date
September 30, 2009
29
§ 32
Acceptance Deadline Time
6:00 pm MST
N/A
N/A
2.4. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N /A"
or the word "Deleted" means not applicable and when inserted on any lime in Dates and Deadlines (§ 2.3), means that the
corresponding provision of the Contract to which reference is made is deleted. The abbreviation "MEC" (mutual execution of
this Contract) means the date upon which both parties have signed this contract.
2.5. Day; Computation of Period of Days, Deadline.
2.5.1. Day. As used in this Contract, the tens "day" shall mean the entire day ending at 11:59 pm., United States Mountain
Time (Standard or Daylight Savings as applicable).
2.5.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified,
the first day is excluded and the last day is included, e.g., three days after NEC. If any deadline falls on a Saturday, Sunday
or federal or Colorado state holiday (Holiday), such deadline ® Shall ❑ Shall Not be extended to the next day that is not
a Saturday, Sunday or Holiday. Should neither box be checked, the deadline shall not be extended.
INCLUSIONS AND EXCLUSIONS.
3.1. Inclusions. The Purchase Price includes the following items (Inclusions):
3.1.1. Fixtures. If attached to the Property on the date of this Contract, lighting, heating, plumbing, ventilating, and air
conditioning fixtures, TV antennas, inside telephone, network and coaxial (cable) wiring and connecting blocks/jacks,
plants, minors, floor coverings, intercom systems, built -in kitchen appliances, sprinkler systems and controls, built-in
vacuum systems (including accessories), garage door openers including N/A remote controls; and ❑
N/A
45 3.1.2. Personal Property. The following are included if on the Property whether attached or not on the date of this
46 Contract: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, curtain rods,
47 drapery rods, fireplace ins fireplace screens fir grates, heating stoves, storage sheds, and all keys. If checked,
48 the following are included Water Softeners INSmokelFireDetectors ❑ Security Systems ❑ Satellite Systems
49 (including satellite dishes).
50 3.1.3. Other Inclusions.
51 Refrigerator,range /oven,range hood.
52 The Personal Property to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes (except personal
53 property taxes for the year of Closing), liens and encumbrances, except
54 N/A
55 Conveyance shall be by bill of sale or other applicable legal instrument.
56 3.1.4. Trade Flxtures. With respect to trade fixtures, Seller and Buyer agree as follows:
57 NIA
58 The Trade Fixtures to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes (except personal
59 property taxes for the year of Closing), liens and encumbrances, except
60
PREPARED BY: Sylvia Moreschini, Broker Associate
CBSt -5.08, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Real Estate Commission
ResIFA$T0 Software, 02009, Version 6.16. Software Registered to: Russell A. DeSslvo 111, Coldwell Banker Partners Real Estate
Pegs 2 of 12
Buyer(s) — Seller(s) _
N/A
6t Conveyance shall be by bill of sale or other legal instrument.
62 3.1.5. Parking and Storage Facilities. U Use Only ❑ Ownership of the following parking facilities:
63 N/A
64 and ❑ Use Only ❑ Ownership of the following storage facilities:
65 N/A
66 3.1,6. Water Rights, Water Interests, Water and Sewer Taps. The following legally described water rights:
67 N/A
68 Any water rights shall be conveyed by ❑ N/A Deed ❑ Other applicable legal instrument.
69 3.1.6.1. If any water well is to be transferred to Buyer, Seller agrees to supply required information about such well to
70 Buyer. Buyer understands that if the well to be transferred is a Small Capacity Well or a Domestic Exempt Water Well
71 used for ordinary household purposes, Buyer shall, prior to or at Closing, complete a Change in Ownership form for the
72 well. If an existing well has not been registered with the Colorado Division of Water Resouces in the Department of
73 Natural Resources (Division), Buyer shall complete a registration of existing well form for the well and pay the cost of
74 registration. If no person will be providing a closing service in connection with the transaction, Buyer shall file the form
75 with the Division within sixty days after Closing. The Well Permit # is N/A
76 3.1.6.2. ❑ Water Stock Certificates:
77 N/A
78 3,1.6.3. ❑ Water Tap ❑ Sewer Tap
79 Note: Buyer is advised to obtain, from the provider, written confirmation of the amount remaining to be paid, if any, time
80 and other restrictions for transfer and use of the tap.
81 3.1,7. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows:
82 N/A
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
3.2. Exclusions. The following items are excluded:
N/A
4. PURCHASE PRICE AND TERMS.
4.1. Price and Terms. The Purchase Price set forth below shall be payable in U.S. Dollars by Buyer as follows:
Item No. I Reference
Item
Purchase Price
Amount
Amount
1
§ 4.1
2
§ 4.2
3
§ 4.5
4
§ 4.6
5
§ 4.7
Earnest M
New Loan
Assumption Balance
Seller or Private Financing
$ 128,000.00
1,000.00
N/A
N/A
N/A
N/A
6 1 1 1 N/A
7 1 1 1 N/A
8 1 44.3 1 Cash at
9 1 1 TOTAL
N/A
127,000.00
$ 125,000.00 I$ 128,000.00
4.2. Earnest Money. The Earnest Money set forth in this section, in the form of CHECK
is part payment of the Purchase Price and shall be payable to and held by Lana Title Guarantee Company
(Earnest Money Holder), in its trust account, on behalf of both Seller and Buyer. The Earnest Money deposit shall be tendered
with this Contract unless the parties mutually agree to an Alternative Earnest Money Deadline (§ 2.3) for its payment. If
Earnest Money Holder is other than the Brokerage Firm identified in § 34 or § 35 below, Closing Instructions signed by Buyer,
Seller and Earnest Money Holder must be obtained on or before delivery of Earnest Money to Earnest Money Holder. The parties
authorize delivery of the Earnest Money deposit to the company conducting the Closing (Closing Company), if any, at or before
Closing. In the event Earnest Money Holder has agreed to have interest on Earnest Money deposits1ransfeiTed to a fund
established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer acknoigledge'and agree that
any interest accruing on the Earnest Money deposited with the Earnest Money Holder in this transaction'shaltbe "transferred to
such fund.
4.2.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the time of
tender of the Contract is as set forth as the Alternative Earnest Money Deadline (§ 2.3).
PREPARED BY: Sylvia Moresehinl, Broker Associate
CBS1 -549, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Real Estate Commission
ReaIFASTO Software, 02009, Version 6.16. Software Registered to: Russell A. DeSalvo III, Coltlwell Banker Partners Real Estate
Buyer(a) —
Page S of 12
sewr(s)
102 4.3. Forms of Funds; Time of Payment; Funds Available. All amounts payable by the parties at Closing, including any loan
103 proceeds, Cash at Closing and closing costs, shall be in funds that comply with all applicable Colorado laws, including electronic
104 transfer funds, certified check, savings and loan teller's check and cashiers check (Good Funds). All funds required to be paid at
105 Closing shall be timely paid to allow disbursement by Closing Company at Closin OR SUCH PARTY SHALL BE
106 IN DEFAULT. Buyer represents that Buyer, as of the date of this Contract, ® Does 1H Does Not have funds that are
107 immediately verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1.
108 4.4. Seller Concession. Seller, at Closing, shall pay or credit, as directed by Buyer, a total amount of $ N/A
109 to assist with Buyer's closing costs, loan discount points, loan origination fees, prepaid items (including any amounts that Seller
110 agrees to pay because Buyer is not allowed to pay due to FHA, CHFA, VA, etc.), and any other fee, cost, charge, expense or
111 expenditure related to Buyer's New Loan or other allowable Seller concession (collectively, Seller Concession). The Seller
112 Concession is in addition to any sum Seller has agreed to pay or credit Buyer elsewhere in this Contract. If the amount of Seller
113 Concession exceeds the aggregate of what is allowed, Seller shall not pay or be charged such excess amount
114 4.5. New Loan. [OMITTED AS INAPPLICABLE]
115 4.6. Assumption. [OMITTED AS INAPPLICABLE]
116 4.7. Seller or Private Financing, [OMITTED AS INAPPLICABLE]
117 5. FINANCING CONDITIONS AND OBLIGATIONS.
118 5.1. Loan Application. [OMITTED AS INAPPLICABLE]
119 5.2. Loan Conditions [OMITTED AS INAPPLICABLE]
120 5.3. Credit Information and Buyer's New Senior Loan. [OMITTED AS INAPPLICABLE]
121 5.4. Existing Loan Review. [OMITTED AS INAPPLICABLE]
122 6. APPRAISAL PROVISIONS.
123 6.1. Property Approval. If the lender imposes any requirements or repairs (Requirements) to be made to the Property (e.g, roof
124 repair, repainting), beyond those matters already agreed to by Seller in this Contract, Seller may terminate this Contract
125 (notwithstanding § 10 of this Contract) by written notice to Buyer on or before three days following Seller's receipt of the
126 Requirements. Seller's right to terminate in this § 6.1 shall not apply if on or before any termination by Seller pursuant to this
127 § 6.1: (1) the parties enter into a written agreement regarding the Requirements; or (2) the Requirements are completed by Seller,
128 or (3) the satisfaction of the Requirements is waived in writing by Buyer.
129 6.2. Appraisal Condition.
130 El 6.2.1. Not Applicable. This § 6.2 shall not apply.
131 ® 6.2.2. Conventional/Other. Buyer shall have the sole option and election to terminate this Contract if the Purchase Price
132 exceeds the Property's valuation determined by an appraiser engaged by aver . The appraisal
133 shall be received by Buyer or Buyers lender on or before Appraisal Deadline (§ 2.3). This Contract shall terminate by Buyer
134 delivering to Seller written notice of termination and either a copy of such appraisal or written notice from lender that
135 confirms the Property's valuation is less than the Purchase Price, received by Seller on or before Appraisal Objection
136 Deadline (§ 2.3). If Seller does not receive such written notice of termination on or before Appraisal Objection Deadline
137 (§ 2.31 Buyer waives any right to terminate under this section.
138 ❑ 6.2.3. FHA. It is expressly agreed that notwithstanding any other provisions of this Contract, the Purchaser (Buyer) shall
139 not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture of Earnest
140 Money deposits or otherwise unless the Purchaser (Buyer) has been given in accordance with HUD/FHA or VA requirements
141 a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement
142 lender, setting forth the appraised value of the Property of not less than $ N/A . The Purchaser (Buyer) shall
143 have the privilege and option of proceeding with consummation of the Contract without regard to the amount of the appraised
144 valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban
145 Development will insure. HUD does not warrant the value nor the condition of the Property. The Purchaser (Buyer) should
146 satisfy himsell7herself that the price and condition of the Property are acceptable.
147 ❑ 6.2.4. VA. It is expressly agreed that, notwithstanding any other provisions of this Contract, the Purchaser (Buyer) shall not
148 incur any penalty by forfeiture of Earnest Money or otherwise or be obligated to complete the purchase of the Property
149 described herein, if the Contract Purchase Price or cost exceeds the reasonable value of the Property established by the
150 Department of Veterans Affairs. The Purchaser (Buyer) shall, however, have the privilege and option of proceeding with the
151 consummation of this Contract without regard to the amount of the reasonable value established by the Department of
152 Veterans Affairs.
153 6.3. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this Contract shall be timely paid by
154 ® Buyer ❑ Seller.
155 7, EVIDENCE OF TITLE, SURVEY AND CIC DOCUMENTS.
156 7.1. Evidence of Title. On or before Title Deadline (§ 2.3), Seller shall cause to be furnished to Buyer, at Sellers expense, a
157 current commitment for owner's title insurance policy (Title Commitment) in an amount equal to the Purchase Price, or if this
158 box is checked, ❑ An Abstract of title certified to a current date. If title insurance is furnished, Seller shall also deliver to
159 Buyer copies of any abstracts of title covering all or any portion of the Property (Abstract) in Sellers possession. At Seller's
160 expense, Seller shall cause the title insurance policy_to be issued and delivered to Buyer as soon as practicable at or after
161 Closing. The title insurance commitment ® Shall L7 Shag Not commit to delete or insure over the standard exceptions
162 which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) any unrecorded mechanic's liens,
163 (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, assessments and unredeemed tax
164 sales prior to the year of Closing. Any additional premium expense to obtain this additional coverage shall be paid by ® Buyer
PREPARED BY: Sylvia Moreschini, Broker Associate
C881-5-09, CONTRACT TO BUY AND SELL REAL ESTATE, Colorado Real Estate Commission
RwIFA$T® Software, 020D9, Version 6.16. Software Registered to: Russell A. DeSalvo III, Coldwell Banker Partners Real Estate
Page 4 of 12
Buyerts) — Seller(s) —
165 ❑ Seller.
166 Note: The title insurance company may not agree to delete or insure over any or all of the standard exceptions. Buyer shall have
167 the right to review the Title Commitment. if the Title Commitment or its provisions are not satisfactory to Buyer, Buyer may
168 exercise Buyer's rights pursuant to § 8.1.
169 7.2. Copies of Exceptions. On or before Title Deadline (§ 2.3), Seller, at SeHer's expense, shall furnish to Buyer and
170 Buyer Ia Attorney, Thomas E. Jaccer ,(1) copies ofany
171 plats, declarations, covenants, conditions and restrictions burdening the Property, and (2) if a Title Commitment is required to be
172 furnished, and if this box is checked ® Copies of any Other Documents (or, if illegible, summaries of such documents) listed
173 in the schedule of exceptions (Exceptions). Even if the box is not checked, Seller shall have the obligation to furnish these
174 documents pursuant to this section if requested by Buyer any time on or before Document Request Deadline (§ 2.3). This
175 requirement shall pertain only to documents as shown of record in the office of the clerk and recorder in the county where the
176 Property is located. The abstract or Title Commitment, together with any copies or summaries of such documents famished
177 pursuant to this section, constitute the title documents (Title Documents).
178 7.3. Survey. On or before Survey Deadline (§ 2.31 ❑ Seller ® Buyer shall orderor provide, and cause Buyer(and the issuer
179 of the Title Commitment or the provider of the opinion of title if an abstract) to receive, a current ❑ Improvement Survey Plat
180 ® Improvement Location Certificate ❑ N/A
181 (Ihe description checked is known as Survey). An amount not to exceed $ 175.00 for Survey shall be paid by
182 ® Bayer ❑ Seller. If the cost exceeds this amount, ® Buyer ❑ Seller shall pay the excess on or before Closing. Buyer
183 shall not be obligated to pay the excess unless Buyer is informed of the cost and delivers to Seller, before Survey is ordered,
184 Buyer's written agreement to pay the required amount to be paid by Buyer.
185 7.4. Common Interest Community Documents. The term CIC Documents consists of all owners' associations (Association)
186 declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent annual owners'
187 meeting and minutes of any directors' or managers' meetings during the six -month period immediately preceding the date of this
188 Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, (2) annual
189 income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively CIC Documents).
190 ® 7.4.1. Not Applicable. This § 7.4 shall not apply.
191 7.4.2. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON INTEREST
192 COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER OF THE
193 PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER'S ASSOCIATION FOR THE COMMUNITY
194 AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE
195 DECLARATION, BYLAWS, AND RUMS AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS
196 UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE
197 ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD PLACE A
198 LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS, AND
199 RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAILING CHANGES
200 TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE
201 OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF PROPERTY WITHIN
202 THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF
203 MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR
204 THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION.
205 ❑ 7.4.3. Not Conditional on Review. Buyer acknowledges that Buyer has received a copy of the CIC Documents. Buyer has
206 reviewed them, agrees to accept the benefits, obligations and restrictions that they impose upon the Property and its owners
207 and waives any right to terminate this Contract due to such documents, notwithstanding the provisions of § 8.5.
208 7.4.4. CIC Documents to Buyer.
209 ❑ 7.4.4.1. Seller to Provide CIC Documents. Seller shall cause the CIC Documents to be provided to Buyer, at
210 Seller's expense, on or before CIC Documents Deadline (§ 2.3}
211 ❑ 7.4.4.2. Seller Authorizes Association. Seller authorizes the Association to provide the CIC Documents to Buyer,
212 at Seller's expense.
213 7.4.4.3. Seller's Obligation. Sellers obligation to provide the CIC Documents shall be fulfilled upon Buyer's receipt
214 of the CIC Documents, regardless of who provides such documents.
215 7.4.5. Conditional on Buyer's Review. If the box in either § 7.4.4.1 or § 7.4.4.2 is checked, the provisions of this § 7.4.5
216 shall apply. Written notice of any unsatisfactory provision in any of the CIC Documents, in Buyer's subjective discretion,
217 signed by Buyer, or on behalf of Buyer, and delivered to Seller on or before CIC Documents Objection Deadline (§ 2.3),
218 shall terminate this Contract.
219 Should Buyer receive the CIC Documents after CIC Documents Deadline (§ 2.3), Buyer shall have the right, at
220 Buyer's option, to terminate this Contract by written notice delivered to Seller on or before ten days after Buyer's receipt of
221 the CIC Documents. If Buyer does not receive the CIC Documents, or if such written notice to terminate would otherwise
222 be required to be delivered after Closing Date (§ 2.3), Buyers written notice to terminate shall be received by Seller on or
223 before three days prior to Closing Date (§ 23). If Seller does not receive written notice from Buyer within such time,
224 Buyer accepts the provisions of the CDC Documents, and Buyer's right to terminate this Contract pursuant to this section is
225 waived, notwithstanding the provisions of § 8.5.
226 NOTE: If no box in this § 7A is checked, the provisions of § 7.4.4.1 shall apply.
227 8. TITLE AND SURVEY REVIEW.
PREPARED BY: Sylvia More ichlnl, Broker Assoclate
CBSt•609, CONTRACT TO BUY AND SELL REAL ESTATE. Cokrrsdo Real Estate Commission
ReaIFAM Software, 02008, Version 6.16. Software Registered to: Russell A. DeSslvo III, Coldwell Banker Partners Real Estate
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8.1. Title Review. Buyer shall have the right to inspect the Title Documents. Buyer shall provide written notice of
unmeichantability of title, unsatisfactory form or content of Title Commitment, or, notwithstanding §13, ofany other unsatisfactory
title condition shown by the Title Documents (Notice of Title Objection). Such notice shall be signed by or on behalf of Buyer
and delivered to Seller on or before Title Objection Deadline. (§ 2.3), provided such Title Documents are received by Buyer in
a timely manner. If there is an endorsement to the Title Commitment that adds a new Exception to title, a copy of the new
Exception to title and the modified Title Commitment shall be delivered to Buyer. Provided however, Buyer shall have five days
to deliver the Notice of Title Objection after receipt by Buyer of the following documents: (1) any required Title Document not
timely received by Buyer, (2) any change to the Tide Documents, or (3) endorsement to the Title Commitment. If Seller does not
receive Buyers Notice of Title Objection by the applicable deadline specified above, Buyer accepts the condition of title as
disclosed by the Title Documents as satisfactory.
&2. Matters not Shown by the Public Records. Seller shall deliver to Buyer, on or before Off-Record Matters Deadline
(§ 2.3) true copies of all leases and surveys in Seller's possession pertaining to the Property and shall disclose to Buyer all
easements, liens (including, without limitation, governmental improvements approved, but not yet installed) or other title matters
(including, without limitation, rights of first refusal and options) not shown by the public records of which Seller has actual
knowledge. Buyer shall have the right to inspect the Property to investigate if any third party has any right in the Property not
shown by the public records (such as an unrecorded easement, unrecorded lease, boundary line discrepancy or water rights).
Written notice of any unsatisfactory condition disclosed by Seller or revealed by such inspection, notwithstanding § 13, shall be
signed by or on behalf of Buyer and delivered to Seller on or before Off-Record Matters Objection Deadline (§ 2.3). If Seller
does not receive Buyer's notice by said deadline, Buyer accepts title subject to such rights, if any, of third parties of which Buyer
has actual knowledge.
8.3. Survey Review.
❑ &3.1. Not Applicable. This § 8.3 shall not apply.
® 8.3.2. Conditional on Survey. If the box in this § 8.3.2 is checked, Buyer shall have the right to inspect the Survey. If
written notice by or on behalf of Buyer of any unsatisfactory condition shown by the Survey, notwithstanding § 8.2 or § 13,
is received by Seller on or before Survey Objection Deadline (§ 23) then such objection shall be deemed an unsatisfactory
tide condition. If Seller does not receive Buyer's notice by Survey Objection Deadline (§ 2.3), Buyer accepts the Survey
as satisfactory.
8.4. 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 TAX 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 BUYERS SHOULD INVESTIGATE THE
SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY
TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING
FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND
RECORDER, OR THE COUNTY ASSESSOR.
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, by or on behalf of Buyer, is received by Seller on or before Off-Record Matters Objection Deadline(§ 2.3), this
Contract shall terminate. If Seller does not receive Buyer's notice by such deadline, Buyer accepts the effect of the Property's
inclusion in such special taxing district and waives the right to terminate for that reason.
8.5. Right to Object, Cure. Buyer's right to object shall include, but not be limited to, those matters set forth in §§ 8 and 13. If
Seller receives notice of unmerchantability of title or any other unsatisfactory title condition or commitment terms as provided
in §§ 8.1, 8.2 and 8.3, Seller shall use reasonable efforts to correct said items and bear any nominal expense to correct the same
prior to Closing. if such unsatisfactory title condition is not corrected to Buyer's satisfaction on or before Closing, this Contract
shall terminate; provided, however, Buyer may, by written notice received by Seller on or before Closing, waive objection to such
items.
8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property, or a right to approve this
Contract, Seller shall promptly submit this Contract according to the terms and conditions of such rghL If the holder of the
right of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract shall
terminate. If the right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract shall remain in
full force and effect. Seller shall promptly notify Buyer of the foregoing. If expiration or waiver of the right of first refusal or
Contract approval has not occurred on or before Right of First Refusal Deadline (§ 2.3), this Contract shall terminate.
8.7. 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, )eases and
other unrecorded agreements, and various laws and governmental regulations concerning land use, development and
environmental matters. The surface estate may be owned separately from the underlying mineral estate, and transfer of
the surface estate does not necessarily include transfer of the mineral rights or water rights. Third parties may hold
interests in oil, gas, other minerals, geothermal energy or water on or under the Properly, which interests may give them
rights to enter and use the Property. Such matters may be excluded from or not covered by the title insurance policy. Buyer
is advised to timely consult legal counsel with respect to all such matters as there are strict time limits provided in this Contract
[e.g., Title Objection Deadline (§ 2.3) and Off - Record Matters Objection Deadline (§ 2.3)].
PREPARED BY: Sylvia Moreschinl, Broker Associate
CBS1S -09, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Real Estate Commission
ReeIFASTO Software, 02009, Version 6.16. Software Registered to: Russell A. DeSalvo III, Coldwell Banker Partners Real Estate
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291 9. LEAD -BASED PAINT. Unless exempt, if the improvements on the Property include one or more residential dwellings for
292 which a building permit was issued prior to January 1, 1978, this Contract shall be void unless (1) a completed Lead -Based Paint
293 Disclosure (Sales) form is signed by Seller, the required teal estate licensees and Buyer, and (2) Seller receives the completed and
294 fully executed form prior to the time when the Contract is signed by all parties. Buyer acknowledges timely receipt of a completed
295 Lead -Based Paint Disclosure (Sales) form signed by Seller and the real estate licensees.
296 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, BUYER DISCLOSURE AND SOURCE
297 OF WATER
298 10.1. Seller's Property Disclosure Deadline. On or before Seller's Property Disclosure Deadline (§ 2.3), Seller agrees to
299 deliver to Buyer the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form
300 completed by Seller to the best of Seller's actual knowledge, current as of the date of this Contract.
301 10.2. Inspection Objection Deadline. Buyer shall have the right to have inspections of the physical condition of the Property
302 and Inclusions, at Buyer's expense. If (1) the physical condition of the Property, (2) the physical condition of the Inclusions, (3)
303 any proposed or existing transportation project, road, street or highway, or (4) any other activity, odor or noise (whether on or off
304 the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory in Buyer's subjective discretion,
305 Buyer shall, on or before Inspection Objection Deadline (§ 2.3):
306 10.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or
307 10.2.2. Notice to Correct. Deliver to Seller with a written description of any unsatisfactory physical condition which
308 Buyer requires Seller to correct.
309 If written notice is not received by Seller on or before Inspection Objection Deadline (§ 2.3), the physical condition of the
310 Property and Inclusions shall be deemed to be satisfactory to Buyer.
311 10.3. Inspection Resolution Deadline. If a Notice to Correct is received by Seller and if Buyer and Seller have not agreed in
312 writing to a settlement thereof on or before Inspection Resolution Deadline (§ 2.31 this Contract shall terminate one day
313 following Inspection Resolution Deadline (§ 2.3), unless before such termination Seller receives Buyer's written withdrawal
314 of the Notice to Correct.
315 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract, is responsible for payment for all
316 inspections, tests, surveys, engineering reports, or any other work performed at Buyer's request (Work) and shall pay for any
317 damage that occurs to the Property and Inclusions as a result of such Work. Buyer shall not permit claims or liens of any kind
318 against the Property for Work performed on the Property at Buyer's request Buyer agrees to indemnify, protect and hold Seller
319 harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such Work, claim, or lien.
320 This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against any such liability,
321 damage, cost or expense, or to enforce this section, including Seller's reasonable attorney and legal fees. The provisions of this
322 section shall survive the termination of this Contract.
323 10.5. Insurability. This Contract is conditioned upon Buyer's satisfaction, in Buyer's subjective discretion, with the availability,
324 terms and conditions of and premium for property insurance. This Contract shall terminate upon Seller's receipt, on or before
325 Property Insurance Objection Deadline (§ 2.3), of Buyer's written notice that such insurance was not satisfactory to Buyer.
325 If said notice is not timely received, Buyer shall have waived any right to terminate under this provision.
326 10.6. Buyer Disclosure. Buyer represents that Buyer ❑ Does ® Does Not need to sell and close a property to complete
327 this transaction. Note: Any property sale contingency should appear in Additional Provisions (§ 26).
328 10.7. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ® Does O Does Not
329 acknowledge receipt of a copy of Seller's Pro erty Disclosure or Source of Water Addendum disclosing the source of
330 potable water for the Property. Buyer El Does is Does Not acknowledge receipt of a copy of the current well permit ® There
331 is No WeIL
332 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND
333 WATER YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE)
334 TO DETERMINE THE LONG -TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES.
335 10.8 Carbon Monoxide Alarms, Note: If the improvements on the Property have a fuel -fired heater or appliance, a fireplace, or
336 an attached garage and include one or more rooms lawfully used for sleeping purposes (Bedroom), the parties acknowledge that
337 Colorado law requires that Seller assure the Property has an operational carbon monoxide alarm installed within fifteen feet of the
338 entrance to each Bedroom or in a location as required by the applicable building code.
339 11. METHAMPHETAMINE DISCLOSURE (Residential Property Only). if the Property is residential, and Seller knows that
340 methamphetamine was ever manufactured, processed, cooked, disposed of, used or stored at the Property, Seller is required to
341 disclose such fact. No disclosure is required if the Property was remediated in accordance with state standards and other requirements
342 are fulfilled pursuant to § 25 -18.5 -102, C.R.S. Buyer further acknowledges that Buyer has the right to engage a certified hygienist or
343 industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. If Buyer's test results indicate
344 that the Property has been contaminated with methamphetamine, but has not been remediated to meet the standards established by
345 rules of the State Board of Health promulgated pursuant to § 25 -18.5 -102, C.R.S, Buyer shall promptly give written notice to Seller
346 of the results of the test, and Buyer may terminate this Contract, nothwithstanding any other provision of this Contract.
347 12. CLOSING. Delivery of deed from Seller to Buyer shall be at closing (Closing). Closing shall be on the date specified as the
348 Closing Date (§ 2.3) or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by
349 Buyer and Seller 'ointl .
350 13. TRANSFER OF TITLE. Subject to tender or payment at Closing as required herein and compliance by Buyer with the other
351 terms and provisions hereof, Seller shall execute and delver a good and sufficient General warranty
352 deed to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except
PREPARED BY: Sylvia Morsuhlnl, Broker Associate
CBS1 -500, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Real Estate Commission
RwIFAST® Software. Moog, Version 6.16. Software Registered to: Russell A. Deaatvo III, Coldwell Banker Partners Real Estate
Page 7 of 12
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353 as provided herein, title shall be conveyed free and clear of all liens, including any governmental liens for special improvements
354 installed as of the date of Buyer's signature hereon, whether assessed or not. Title shall be conveyed subject to:
355 13.1. those specific Exceptions described by reference to recorded documents as reflected in the Title Documents accepted by
356 Buyer in accordance with (Title Review (§ 8. 1),
357 13.2. distribution utility easements (including cable TV),
358 13.3. those specifically described rights of third parties not shown by the public records of which Buyer has actual knowledge
359 and which were accepted by Buyer in accordance with Matters Not Shown by the Public Records (§ 8.2) and Survey Review
360 (§ 8.31
361 13.4. inclusion of the Property within any special taxing district, and
362 13.5. other N/A
363 It PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from the
364 proceeds of this transaction or from any other source.
365 15. CLOSING COSTS, DOCUMENTS AND SERVICES.
366 15.1. Good Funds. Buyer and Seller shall pay, in Good Funds, their respective closing costs and all other items required to be
367 paid at Closing, except as otherwise provided herein.
368 15.2. Closing Information and Documents. Buyer and Seller will furnish any additional information and documents required by
369 Closing Company that will be necessary to complete this transaction. Buyer and Seller shall sign and complete all customary or
370 reasonably required documents at or before Closing.
371 15.3. Closing Services Fee. The fee for real estate Closing services shall be paid at Closing by ❑ Buyer ❑ Seller N One -Half
372 by Buyer and One -Half by Seller ❑ Other N/A
373 15.4. Closing Instructions. Buyer and Seller agree to execute the Colorado Real Estate Commission's Closing Instructions.
374 Such Closing Instructions ❑ Are ❑ Are Not executed with this Contract. Upon execution, ❑ Seller ❑ Buyer shall deliver
375 such Closing Instructions to the Closing Company.
376 15.5. Status Letter and Transfer Fees. Any fees incident to the issuance of Association's statement of assessments (Status
377 Letter) shall be paid by ❑ Buyer ❑ Seller ❑ One -Half b Buyer and One -Half by Seller. Any transfer fees assessed by the
378 Association (Association's Transfer Fee) shall be paid by 11 Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller.
379 15.6. Local Transfer Tax. ❑ The Local Transfer Tax of N/A % of the Purchase Price shall be paid at Closing by
380 ❑ Buyer ® Seller ❑ One -Half by Buyer and One-Hag by Seller.
P 3 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction shall be paid when due by
3 7f' ❑ Buyer R Seller El One-Half by Buyer and One•Haff by Seller.
83 16. PRORATIONS. The following shall be prorated to Closing Date (§ 2.3), except as otherwise provided:
384 16.1. Taxes. Personal property taxes, if any, and $ real estate taxes for the year of Closing, based on ❑ Taxes for the
385 Calendar Year Immediately Preceding Closing 29 Most Recent Mill Levy and Most Recent Assessed Valuation, adjusted
386 by any applicable qualifying seniors property tax exemption, or ❑ Other N/A
387 16.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller shall transfer or credit to Buyer the
388 security deposits for all leases assigned, or any remainder after lawful deductions, and notify all tenants in writing of such
389 transfer and of the transferee's name and address. Seller shall assign to Buyer all leases in effect at Closing and Buyer shall
390 assume such leases.
391 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in advance
392 shall be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance
393 by the Association shall not be credited to Seller except as may be otherwise provided by the Governing Documents. Any special
394 assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon shalt be the
395 obligation of Seller. Any other special assessment assessed prior to Closing Date (§ 2.3) by the Association shall be the
396 obligation of ❑ Buyer ® Seller. Seller represents that the Association Assessments are currently payable at $ N/A
397 per N/A and that there are no unpaid regular or special assessments against the Property except the current
398 regular assessments and
399 N/A
400 Such assessments are subject to change as provided in the Governing Documents. Seller agrees to promptly request the
401 Association to deliver to Buyer before Closing Date (§ 2.3) a current Status Letter.
402 16.4. Other Proratioos. Water and sewer charges, interest on any continuing loan, and
403 N/A
404 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations shall be final.
405 17. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date at Possession Time (§ 2.3� subject
406 to the following leases or tenancies:
407 N/A
408 If Seller, after Closing, fails to deliver possession as specified, Seller shall be subject to eviction and shall be additionally liable
409 to Buyer for payment of $ 200 . oo per day (or any part of day notwithstanding § 2.5.1) from the Possession Date and
410 Possession Time (§ 2.3) until possession is delivered.
PREPARED BY: Sylvia Momachlni, Bmker Associate
CBS1 -6-06, CONTRACT TO BUY AND SELL REAL ESTATE. Col Real Estate Commission
ReaIFAST® Software, 02008, Version 6.16. So6ware Registered to: Russell A. DeSahro III, Coktwell Banker Partners Real Estate
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Buyer(s)
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411 Buyer ❑ Dees ® Does Not represent that Buyer will occupy the Property as Buyer's principal residence.
412 18. ASSIGNABILITY AND INUREMENT. This Contract ® Shall ❑ Shall Not be assignable by Buyer without Seller's prior
413 written consent. Except as so restricted, this Contract shall inure to the benefit of and be binding upon the heirs, personal
414 representatives, successors and assigns of the parties.
415 19. CAUSE OF LOSS, INSURANCE; CONDITION OF, DAMAGE TO PROPERTY AND INCLUSIONS AND WALK -
416 THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both shall be delivered in the condition
417 existing as of the date of this Contract, ordinary wear and tear excepted.
418 19.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior
419 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
420 Closing Date (§ 2.3). In the event such damage is not repaired within said time or if the damages exceed such sum, this Contract
421 may be terminated at the option of Buyer by delivering to Seller written notice of termination on or before Closing. Should Buyer
422 elect to carry out this Contract despite such damage, Buyer shall be entitled to a credit at Closing for all insurance proceeds that
423 were received by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the
424 amount of any deductible provided for in such insurance policy. Such credit not to exceed the Purchase Price. In the event Seller
425 has not received such insurance proceeds prior to Closing, then Seller shall assign such proceeds at Closing, plus credit Buyer the
426 amount of any deductible provided for in such insurance policy, but not to exceed the total Purchase Price.
427 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including systems and components of the Property,
428 e.g. heating plumbing) fail or be damaged between the date of this Contract and Closing or possession, whichever shall be
429 earlier, then Seller shall be liable for the repair or replacement of such Inclusion or service with a unit of similar size, age and
430 quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such Inclusion, service or fixture is
431 not the responsibility of the Association, if any, less any insurance proceeds received by Buyer covering such repair or
432 replacement. Seller and Buyer are aware of the existence of preowned home warranty programs that may be purchased and may
433 cover the repair or replacement of some Inclusions. The risk of loss for damage to growing crops by fire of other casualty shall
434 be borne by the party entitled to the growing crops as provided in § 3.1.7 and such party shall be entitled to such insurance
435 proceeds or benefits for the growing crops.
436 19.3. Walk- Through and Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through the
437 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract.
438 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer and Seller acknowledge that
439 the respective broker has advised that this document has important legal consequences and has recommended the examination of title
440 and consultation with legal and tax or other counsel before signing this Contract.
441 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received as Earnest
442 Money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any obligation hereunder is not
443 performed or waived as herein provided, there shall be the following remedies:
444 21.1. If Buyer is in Default:
445 ❑ 21.1.1. Specific Performance. Seller may elect to treat this Contract as canceled, in which case all Earnest Money
446 (whether or not paid by Buyer) shall be forfeited by Buyer, paid to Seller and retained by Seller, and Seller may recover such
447 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
448 right to specific performance or damages, or both.
449 ® 21.1.2. Liquidated Damages. All Earnest Money (whether or not paid by Buyer) shall be forfeited by Buyer, paid to
450 Seller, and retained by Seller. Both parties shall thereafter be released from all obligations hereunder. It is agreed that the
451 Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a penalty, which amount the parties agree is fair
452 and reasonable and (except as provided in §§ 10.4, 19, 22, 23 and 24), said forfeiture shall be SELLERS SOLE AND
453 ONLY REMEDY for Buyers failure to perform the obligations of this Contract. Seller expressly waives the remedies of
454 specific performance and additional damages.
455 21.2. U Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received
456 hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Contract as
457 being in full force and effect and Buyer shall have the right to specific performance or damages, or both.
458 22. LEGAL FEES, COST AND EXPENSES In the event of any arbitration or litigation relating to this Contract, prior to or after
459 Closing Date (§ 2.3), the arbitrator or court shall award to the prevailing party all reasonable costs and expenses, including attorney
460 and legal fees.
461 23. i
462 proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties me IS person who
463 helps to resolve the dispute informally and confidentially. Mediators cannot ' tsrons. The parties to the dispute must
Th
464 agree, in writing, before any settlement is binding. e y appoint an acceptable mediator and will share equally in the
465 cost of such mediation. The me ' erwise agreed, shall terminate in the event the entire dispute is not resolved within
466 thirty da an notice requesting mediation is delivered by one party to the other at the partys last known address. This
467 i se up
468 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder shall release the Earnest Money
469 as directed by written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding the Earnest
470 Money (notwithstanding any termination of this Contract), Earnest Money Holder shall not be required to take any action. Earnest
471 Money Holder, at its option and sole discretion, may (1) await any proceeding, (2) interplead all parties and deposit Earnest Money into
472 a court of competent jurisdiction and shall recover court costs and reasonable attorney and legal fees, or (3) provide notice to Buyer
473 and Seller that unless Earnest Money Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller),
PREPARED BY: Sylvia Moneschlnl, Broker Associate
CBS1 -"9, CONTRACT TO BUY AND SELL REAL ESTATE. Cokxaft Real Estate Commission
Rea1FASTS Software, 02008, version 0. Is. Software Regutered to: Russell A. DeSalvo III, Colowell Banker Partners Real Estate
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Buyer(a) —
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474 containing the case number of the lawsuit (Lawsuit) within one hundred twenty days of Earnest Money Holder's notice to the
475 parties, Earnest Money Holder shall be authorized to return the Earnest Money to Buyer. In the event Earnest Money Holder does
476 receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Earnest Money Holder shall disburse the
477 Earnest Money pursuant to the Order of the Court. The parties reaffirm the obligation of Mediation (§ 23). The provisions of this
478 § 24 apply only if the Earnest Money Holder is one of the Brokerage Firms named in § 34 or § 35.
479 25. TERMINATION. In the event this Contract is terminated, all Earnest Money received hereunder shall be returned and the
480 parties shall be relieved of all obligations hereunder, subject to §§ 10.4, 23 and 24.
481 26. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate
482 Commission.)
483 1. Seller shall have the right to conduct environmental assessments of the Property. If the
environmental condition of the Property is unsatisfactory to Buyer's subjective discretion, Buyer
shall on or before inspection Objection Deadline give to Seller either(i)notice to terminate this
Contract, or (ii) notice to correct, in which event the provision of 510.3 shall apply.
484 27. ATTACHMENTS. The following are a part of this Contract:
485 1. Addendum to the Contract to Buy and Sell Real Estate,City of Pueblo a Municipal Corporation (Buyer)
Posada (Seller) 731 E. 4th Street Pueblo, CO 81003.
486 Note: The following disclosure forms are attached but are not apart of this Contract:
487 Water Source Addendum,Sellers Property Disclosure.
488 28, GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith, including but not limited to
489 exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations (§ 5) and Property
490 Disclosure, Inspection, Indemnity, Insurability, Buyer Disclosure and Source of Water (§ 10).
491 29. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL. This Contract, its exhibits and specified addenda, constitute the
492 entire agreement between the parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or
493 written, have been merged and integrated into this Contract. No subsequent modification of any of the terms of this Contract shall be
494 valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any obligation in this Contract that,
495 by its terms, is intended to be performed after termination or Closing shall survive the same.
496 30. COLORADO FORECLOSURE PROTECTION ACT. If the Colorado Foreclosure Protection Act (Act) applies, then a
497 different contract that complies with the provisions of the Act is requited, and this Contract shall be void and of no effect. The Act
498 generally requires that (1) the Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default,
499 (3) Buyer does not reside in the Property for at least one year and (4) Buyer is subject to the Act. Buyer ❑ Will ❑ Will Not occupy
500 the Property as Buyer's personal residence for at least one year. The parties are further advised to consult with their own attorney.
501 31. NOTICE, DELIVERY AND CHOICE OF LAW.
502 31.1. Physical Delivery. All notices must be in writing, except as provided in § 31.2. Any document, including a signed
503 document or notice, delivered to Buyer shall be effective when physically received by Buyer, any signator on behalf of Buyer, any
504 named individual of Buyer, any representative of Buyer, or Brokerage Finn of Broker working with Buyer (except for delivery,
505 after Closing, of the notice requesting mediation described in § 23) and except as provided in § 31.2 below. Any document,
506 including a signed document or notice, delivered to Seller shall be effective when physically received by Seller, any signator on
507 behalf of Seller, any named individual of Seller, any representative of Seller, or Brokerage Firm of Broker working with Seller
508 (except for delivery, after Closing, of the notice requesting mediation described in § 23) and except as provided in § 312 below.
509 31.2. Electronic Delivery. As an alternative to physical delivery, any document, including any sieed document or written
510 notice may be delivered in electronic form only by the following indicated methods: ® Facsimile IN E -mail ❑ Internet
511 ❑ No Electronic Delivery. Documents with original signatures shall be provided upon request of any party.
512 31.3. Choice of Law. This Contract and all disputes arising hereunder shall be governed by and construed in accordance with
513 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for property
514 located in Colorado.
515 32. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal shall expire unless accepted in writing, by Buyer and Seller,
516 as evidenced by them signatures below, and the offering party receives notice of such acceptance pursuant to § 31 on or before
517 Acceptance Deadline Date (§ 2.3) and Acceptance Deadline Time (§ 2.3). If accepted, this document shall become a contract
518 between Seller and Buyer. A copy of this document may be executed by each party, separately, and when each party has executed a
519 copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties.
520
PREPARED BY: Sylvia Moreschlnl, Broker Associate
CBS1 -5.09, CONTRACT TO BUY AND SELL REAL ESTATE. Colorado Reel Estate Commission
Rw)FAST® Soaware, 02009, Version 6.16. Soaware Registered to: Russell A. DeaatVo III, Coldwell Banker Partners Real Estate
Buyers)
Pape 10 of 12
Seller(s) _
City of Pueblo a Municipal Corporation
503 N. Main Street Suite 127, Pueblo, CO
Bus. #: 719- 545 -4412 719 - 545 -43
BUYER
By: President, Pueblo City Council
DATE I - x$'O c )
521 Email Address: shellevmedina @iaccerlaw.com
522
523 (NOTE: If this offer is being countered or rejected, do not sign this document. Refer to § 331
524
Posada
1010 N. Grand Avenue, Pueblo, CO 81003
SELLER Bus. #l� 545 776 n &A ``—
By: Authorized Signatory
DATE q1;;�p)l L 1`I
525 Email Address: kimboxman315 @vahoo.com
526
527 33. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected.
528 Initials only of party (Buyer or Seller) who countered or rejected offer
529
530 END OF CONTRACT TO BUY AND SELL REAL ESTATE
531
532 34. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
533 (To be completed by Broker working with Buyer)
534
535 Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit specified in § 4.1 and, while not a party to the Contract,
536 agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if Earnest Money Holder is other
537 than the Brokerage Finn identified in § 34 or § 35, Closing Instructions signed by Buyer, Seller, and Earnest Money Holder must be
538 obtained on or before delivery of Earnest Money to Earnest Money Holder.
539
540 Broker is working with Buyer as a ❑ Buyer's Agent ❑ Seller's Agent ® Transaction - Broker in this transaction.
541 ❑ This is a Change of Status.
542
543 Brokerage Firm's compensation or commission is to be paid by ® Listing Brokerage Firm ❑ Buyer
544 ❑ Other N/A
545 Brokerage Firm's Name:
Coldwell Banker Partners Real Estate
1310 Hwy 50 nest
Pueblo, CO 81008
Phone: 719-583 -8383,
0
Signal=
Fax: 719- 583 -1999
ra
Date
546 Email Address: moreschini@comcast net
547
PREPARED BY: Sylvia Momschini, Broker Associate
CBSt -5 -09, CONTRACT TO BUY AND SELL REAL ESTATE. Coloredo Real Estate Commission
ReaIFA$T0 Software, 02009, Version 8.18. Software Registered to: Russell A. DeSalvo III, Coldwell Banker Partners Real Estate
Page 11 of 12
548
549
550
551
552
553
554
555
556
557
558
559
560
561
562
563
33. 'BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
(To be completed by Broker working with Seller)
Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit specked in § 4.1 and, while not a party to the Contract,
agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if Earnest Money Holder is other
than the Brokerage Firm identified in § 34 or § 35, Closing Instructions signed by Buyer, Seller, and Earnest Money Holder must be
obtained on or before delivery of Earnest Money to Earnest Money Holder.
Broker is working with Seller as a ❑ Seller's Agent ❑ Buyer's Agent ® Transaction -Broker in this transaction. ❑ This is a
Change of Status,
Brokerage Firm's compensation or commission is to be paid by ® Seller ❑ Buyer ❑ Other tr /A
Date:
Brokerage Firm's Name:
Broker's Name:
564
565
566 Address:
567
568 PhoneNo.:
569 FaxNo.:
570 Email Address:
PREPARED BY: Sylvia Moreechlnl, Broker Aeaoclate
CBS1 -S-09, CONTRACT TO BUY AND SELL REAL ESTATE. C910rede Real Estate Commission
ReaIFA$T® Software, 02909, Version S.16. Software Registered lo: Russell A. DeSalvo 111, CoMrell Banker Partners Real Estate
Buyers)
Page 12 of 12
Seller(S)
719- 583 -8383 or 719- 250 -5728
7 1 9 - 5 93 -1999
moreachini @comcaet net
ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE
CITY OF PUEBLO (BUYER) - POSADA (SELLER)
731 E. 4 TH STREET, PUEBLO, COLORADO
1. Seller represents and warrants to Buyer that at the date of this Contract and on Closing
Date:
(a) The Property is not in any way contaminated with any hazardous waste or
substances, there is no asbestos or harmful presence of radon gas on the Property, there are no
underground storage tanks on the Property, and there is no proceedings or inquiry by any
governmental authority or agency with respect thereto.
(b) There is no condition known to Seller existing with respect to the Property or its
operation, or any part thereof, which violates any law, rule, regulation or ordinance.
(c) Seller will indemnify, defend and hold Buyer harmless from any and all claims,
demands, liabilities, fines, penalties, costs and expenses, including reasonable attorney fees,
arising or resulting from or sustained by Buyer as a result, direct or indirect, of the untruth or
accuracy of any of the foregoing matters represented and warranted by Seller to Buyer or the
breach of any of the foregoing covenants and warranties of Seller, which indemnity shall survive
the closing herein and shall not be deemed to merge in the warranty deed.
2. At Closing, Seller shall convey to Buyer by general warranty deed good, marketable and
insurable fee simple title to the Property, free and clear of all liens and encumbrances, subject
only to general taxes for the year of Closing and the Exceptions accepted by Buyer.
3. In the event of any conflict between the provisions of this Addendum and the provisions
of the Contract, the provisions of this Addendum shall control.
1310 Hwy: 50 West
Pueblo, CO 81008
Phone: 719 -583 -8383
Fax: 719-583-1999
The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
(AE41 -5 -09) (Mandatory 7 -09)
or - • 109 S. Burlington Drive
m Pueblo West, CO 81007
Phone: 719-547-8686
PARTNERS Fax: 719 - 547 -7323
REAL ESTATE
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND
5 TAX OR OTHER COUNSEL BEFORE SIGNING.
6
7
8 AGREEMENT TO AMEND/EXTEND CONTRACT
9
10 Date: September 28, 2009
11
12 1. This agreement amends the contract dated September 28. 2009 (Contract) between
Posada
13 (Seller) and
City of Pueblo a Municipal Corporation
14 (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Pueblo
15 Colorado:
16 EASTERLY 6 FT OF LOT 15, ALL OF LOT 16, ELK 27, EAST PUEBLO, COUNTY OF PUEBLO, STATE OF COLORADO.
17 known as No.
18 731 E 4th Street Pueblo Colorado 81001 (Property).
19 Street Address City State Zip
20
21 (NOTE: If any item is left blank or the term "No Change" is inserted, means no change. The abbreviation "N /A" or
22 the word "Deleted" means not applicable and when inserted on any line in Dates and Deadlines (§ 23) means that the
23 corresponding provision of the Contract to which reference is made is deleted.]
24
25 2. § 2.3. DATES AND DEADLINES [OMITTED AS INAPPLICABLE]
26
27 3. Other dates or deadlines set forth in the Contract shall be changed as follows:
28 N/A
29
30
31 4. Additional amendments:
32 1, The Selling price shall be $124,000.00.
33
34 All other terms and conditions of the Contract shall remain the same.
35
36 This proposal shall expire unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the
37 offering party to this document receives notice of acceptance on or before September 30. 2009 6:00 PM MST
38 Date Time
39
Posada DATE Z�
SELLER
By: Authorized Signatory
PREPARED BY: Sylvia Moreaehinl, Broker Associate
AE41.6.09 AGREEMENT TO AMENDIEI(TEND CONTRACT. Colorado Real Estate Commission
ReaIFA$T® Software, 020D9, Verson 6.16. Software Registered to: Russell A. OeSalm 111, Coldwell Banker Partners Real Estate
Page 7 of 2
Buyers)
City of Pueblo a Munic4a orporation
B=R �= DATE
By: President, Pueblo City Council
PREPARED BV: Sylvia Moreschinl, Broker Associate
AE41 -6-09 AGREEMENT TO AMEND /EXTEND CONTRACT. Cobredo Real Estate Commission
RealFA$T® Software, 02009, Vemlon 0.16. Software Registered to: Russell A. DeSsIvo III, Caldwell Banker PaMeis Real Estate
Page 2 of ]
Selle(s) r5n
Official Records of Pueblo County Clerk & Recorder 1826849
12/08/2009 11:38 :55 AM Page 1 of 1
Warranty Deed R: $6.00 D: $12.40 Gilbert Ortiz
II I I IIII III I
11 1 1111 IN 111111111 State Documentary Fee
Warranty Deed Dare:
(Pursuant to 38 -30-113 C.R.S.)
THIS DEED, made oo December 04, 2009 by POSADA, A COLORADO NON - PROFIT CORPORATION Grantor {s), of the
Comny of PUEBLO and State of COLORADO for the consideration of ($124,000.00) * ** One Hundred Twenty Four Tbousand
and 00 /100 * ** dollars in hand paid, hereby sells and conveys to PUEBLO, A MUNICIPAL CORPORATION Grantee(s), whose
street address is #1 CITY HALL PLACE PUEBLO, CO 81003, County of PUEBLO, and Stale of COLORADO, the following real
property in the County of Pueblo, and State of Colorado, to wit:
EASTERLY 6 FEET OF LOT 15, ALL OF LOT 16, BLOCK 27, EAST PUEBLO, COUNTY OF PUEBLO, STATE. OF COLORADO.
also knoam by sweet and number as: 731 EAST 4TH STREET PUEBLO CO 81001
witff all its appuftenances aim warrants the title to the same, subject to easements, restrictions and covenants of mcord.
STATE DOC FEE
P OSADA, A COLORADO NON�P y ROFI r T CORPGtitAfION $ 12.40
KNI HOWNIAN, DuvELOPb7EYPDIRFLTOR
State of COLORADO )
ss.
Coturry of PUEBLO )
The foregoing instrument was acknowledged before me on this day of December 04, 2009
by KIM BO WIV N, DEVELOPMENT DIRECTOR FOR POSADA, A COLORADO NON- PROFIT CORPORATION
Notary Publics
My commission expires
When Recorded Return m: PUEBLO, A MUNICIPAL CORPORATION
#1 CITY fTALL PLACE PUEBLO, CO 81003
M1CH� A ,R CATA! t�0�
N0�'P•�Y pUF3LIC
STRYE OF tr01_C U.P.F:.O
Furm 13084 09/2008 wd.odt Warranty Deed (Photographic) PB35023270 18944973)
Ladd Title
Warranty Deed
(Pursuant to 38 -30 -113 C.R.S.)
State Documentary Fee
Date:
$
THIS DEED, made on December 04, 2009 by POSADA, A COLORADO NON - PROFIT CORPORATION Grantor(s), of the
County of PUEBLO and State of COLORADO for the consideration of ($124,000.00) * ** One Hundred Twenty Four Tbousand
and 00 /100 * ** dollars in hand paid, hereby sells and conveys to PUEBLO, A MUNICIPAL CORPORATION Grantee(s), whose
street address is #1 CITY HALL PLACE PUEBLO, CO 81003, County of PUEBLO, and State of COLORADO, the following real
property in the County of Pueblo, and State of Colorado, to wit:
EASTERLY 6 FEET OF LOT 15, ALL OF LOT 16, BLOCK 27, EAST PUEBLO, COUNTY OF PUEBLO, STATE OF COLORADO.
also known by street and number as: 731 EAST 4TH STREET PUEBLO CO 81001
with all its appurtenances and warrants the title to the same, subject to easements; restrictions and covenants of record.
POSADA, A COLORADO NON - PROFIT CORPORATION
Kr1M BOWMAN, DEVELOPMENFDIRECFOR
State of COLORADO )
) ss.
County of PUEBLO )
The foregoing instrument was acknowledged before me on this day of December 04, 2009
by KIM BO N, DEVELOPMENT DIRECTOR FOR POSADA, A COLORADO NON - PROFIT CORPORATION
7 r /zaz c
Notary Publi
My commission expires L< 7
When Recorded Return to: PUEBLO, A MUNICIPAL CORPORATION
#1 CITY HALL PLACE PUEBLO, CO 81003
MICHA,EA CA AL 01
NOTARY PVCLIC
5 ?ATE O CO LO PA ' C O
Form 13084 09/2008 wd.udt Warranty Deed (Photographic) PB35023270 (8944973}
l
1826849 Page 1 of 2
12/08/2009 11:38:55 AM
REAL PROPERTY TRANSFER DECLARATION - (TD -1000)
GENERAL. INFORMATION
Purpose: The Real Properly 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.).
Requirements:.adl conveyance documents (deeds) subject to the documentary fee submitted to the county clerk and recorder for
recorlation must be accompanied by a Real Properly Transfer Declaration. This declaration must be completed and signed by die
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 reiuned within thirty days after the
notice is mailed.
If the completed Real Property Transfer Declaration is our returned to the county assessor within the 30 days of notice, the assessor may
impose a penalty of $25.00 or .025% (.00025) of the sales 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), CRS.
- - . _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 confidetuiality requirements as provided bylaw. 39 -5-
121.5, C.R.S. and 39- 13- 102(5)(c), C.R.S.
i Address and`or legal description of the real property sold: Please do not use P.O. Box numbers
731 EAST 4TH STREET' PUEB CO 61001
2. Type of f Property e purchased, . ased, El SingleFFamilyRe5dervial Towneomeei— Condominium _ Multi- UnitRes
ropen
industrial g l acant Land [- ther
3. Date of Closing: December 04 _ _ _ __
Dare of Contract if different than date of closing: September 01 '20
4. Total sale price: Including all real and personal property. $124,000.00
5. Was any personal property included in the transaction? Personal property would include, but not limited to, carpeting, draperies, fire
standing appliances, equipmem, inventory, fumiiure. If the perse ral property is not listed, the entire purchase price will he asstuned
to be for the re property as per 39 -13 -102, C.R.S.
Yes real, if yes, approximate value$ Describe:
G. Did the total sales price ui(In le a trade or exchange of additional real or personal property? If yes, give the approximate value of the
goods or services as of the date of closing.
_ Yes I X No If yes, value $
If ves, does this transaction involve a trade render IRS Code Section 1031? Yes - !No
7. Was 100% interest in the real property purchased? Mark "no" if only a partial interest is being purchased.
X'Yes E No If no, inter. - t.pmchased: %
6, Is this a transaction among related parties? Indicate whether the buyer or seller are related. Related parties include persons within
the same farmLy, business affiliates, or affiliated corporations.
;Yes IX�1 No
9. Check any of the following that all pl -to the condition of The improvements at the Time of Purchase:
New r Excellent _ jyGuod Average — Fair Pool _Salvage
If die property B financed, pleose complete the following:
10. Total amount financed: $ ..
11. Type of financing: (Check all that apply)
` .; New [ Assumed _J Seller L ! Thi Party [J Combination: Explain
Fomr 13199 0Cv2006 rpt_oN PB35023270 (6944974) pg 1 of 2
REAL PROPERTY TRANSFER DECLARATION - (TD -1000)
GENERAL INFORMATION
Purpose: 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
Requirements: Ali 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 completed Real Property Transfer Declaration is not returned to the county assessor within the 30 days of notice, the assessor may
impose a penalty of $25.00 or .025% (.00025) of the sales 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 declai ation. 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. 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
731 EAST 4TH STREET PUEBLO CO 81001 _
2. T e of Property purchased: 7- 1 Sin le Family Residential ❑ Townhome Condominium ❑; Multi -Unit Res
� Commercial F Industrial ❑ Agricultural ❑l Mixed Use Vacant Land ❑Other
3. Date of Closing: December 04, 2009
Date of Contract if different than date of closing: Sep tember 01, 2009
4. Total sale price: Including all real and personal property.
5. Was any personal property included in the transaction? Personal property would include, but not limited to, carpeting, draperies, 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 sales price include a trade or exchange of additional real or personal property? If yes, give the approximate value of the
� Dods or services as of the date of closing.
! Yes 0 No If yes, value $
if yes, does this transaction involve a trade under IRS Code Section 1031? ❑ Yes ❑X No
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 famil business affiliates, or affiliated corporations.
❑ Yes ❑X No
9. Check any of the following that appl o the condition of the improvements at the time of purchase:
�❑ New '.❑Excellentd ❑Average❑ Fair ❑Poor ❑Salvage
If the property is financed, please complete the following:
10. Total amount financed:
11. T e of financing: (Check all that apply)
[New ❑ Assumed ❑ Seller ❑ Third Party ❑ Combination; Explain
Form 13199 06/2008 rpt.odt PB35023270 (8944974)
pg1of2
12. Terms:
Variable; Starting interest rate %
Fated; Interest rate %
Length of time ears
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 21bu than residential (Residential is defined as: single family detached, townhomes, apartments, and condominiums)
please complete questions 14 -16 if applicable. Otherwise, skip to #17 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
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?
F Yes ❑No
Remarks: Please include any additional information concerning the sale you may feel is important.
17. Signed on this day of December 04, 2009
Have at least one of the parties to the transaction sign the document, and include an address and a daytime phone number.
Signature of Grantee (Buyer) XJ or Grantor (Seller) ❑
PUEBLO, A MUNICIPAL CORPORATION
THOMAS E. , ITY ATTORNEY
18. All future correspondence (tax bills, I
PUEBLO, A MUNICIPAL CORD(
HALLPLACE
❑ No
valuations, etc.) regarding this property should be mailed to:
Form 13199 06/2008 rpt.odt PB35023270 169449741 pg 2 of 2