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HomeMy WebLinkAbout13843RESOLUTION NO. 13843 A RESOLUTION APPROVING A LISTING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION, AND SPM REALTY, INC., A COLORADO CORPORATION D/B/A ROCKY MOUNTAIN REALTY AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAID AGREEMENT BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The listing agreement dated December 11, 2017, between Pueblo, a Municipal Corporation and SPM Realty, Inc., a Colorado corporation, d/b/a Rocky Mountain Realty, a copy of which is attached Hereto (” agreement”) have 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 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 2. The officers and staff of the City are directed and authorized to perform any and all acts consistent with the intent of this Resolution to effectuate the policies and procedures described herein. SECTION 3. This Resolution shall become effective upon passage and approval. INTRODUCED: December 11, 2017 BY: Ed Brown City Clerk’s Office Item # M-8 Background Paper for Proposed RESOLUTION COUNCIL MEETING DATE: December 11, 2017 TO: President Stephen G. Nawrocki and Members of City Council VIA: Brenda Armijo, Acting City Clerk FROM: Sam Azad, City Manager SUBJECT: A RESOLUTION APPROVING A LISTING AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION, AND SPM REALTY, INC., A COLORADO CORPORATION D/B/A ROCKY MOUNTAIN REALTY AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAID AGREEMENT SUMMARY: Attached is a resolution approving a listing agreement with Rocky Mountain Realty to list 101 W. Riverwalk. PREVIOUS COUNCIL ACTION: Passed Resolution No. 12660. BACKGROUND: The city has an existing contract with Rocky Mountain Realty for real estate brokerage services. Execution of this agreement will allow Rocky Mountain Realty to extend their listing of the two bottom units of the PBR building referred to as 101 W. Riverwalk. The units have been vacant since construction was completed. FINANCIAL IMPLICATIONS: None BOARD/COMMISSION RECOMMENDATION: Not Applicable STAKEHOLDER PROCESS: The contract awarded by resolution No. 12600 was awarded after being selected via an RFP. ALTERNATIVES: If City Council does not approve this ordinance, the property will not be listed. RECOMMENDATION: Staff recommends approval of this resolution. Attachments: Attached is a sample of the contract. 1 z ' Rocky Mountain Realty 4 ROCK M«,R ry 201 N. Main St. Pueblo, CO 81003 6 Shawn Martinez Broker Associate / Owner 7 Ph: 719 240 2502 Fax: 877-220-4081 8 9 The printed portions of this form, except differentiated additions, have been approved by the Colorado 10 Real Estate Commission. (LC50-8-13) (Mandatory 1-14) 11 1 133 THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE 14 PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 15 16 Compensation charged by brokerage firms is not set by law. Such charges are established by each real estate brokerage firm. 1�? 9 19 20 DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE BUYER AGENCY, 2 SELLER AGENCY OR TRANSACTION-BROKERAGE. 23 2 4 EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT 2); ®SELLER AGENCY ❑TRANSACTION-BROKERAGE 28 29 Date: 12/1/2017 30 3 ' 1. AGREEMENT. Seller and Brokerage Firm enter into this exclusive, irrevocable contract(Seller Listing 33 Contract)and agree to its provisions. Broker, on behalf of Brokerage Firm, agrees to provide brokerage 34 services to Seller. Seller agrees to pay Brokerage Firm as set forth in this Seller Listing Contract. i5 37 2. BROKER AND BROKERAGE FIRM. 3'1 ® 2.1. Multiple-Person Firm. If this box is checked, the individual designated by Brokerage Firm to serve 39 as the broker of Seller and to perform the services for Seller required by this Seller Listing Contract is called 40 41 Broker. If more than one individual is so designated, then references in this Seller Listing Contract to Broker 42 include all persons so designated, including substitute or additional brokers. The brokerage relationship exists 43 only with Broker and does not extend to the employing broker, Brokerage Firm or to any other brokers 44 employed or engaged by Brokerage Firm who are not so designated. oo 0 2.2. One-Person Firm. If this box is checked, Broker is a real estate brokerage firm with only one 4' licensed natural person. References in this Seller Listing Contract to Broker or Brokerage Firm mean both the alicensed natural person and brokerage firm who serve as the broker of Seller and perform the services for 50 Seller required by this Seller Listing Contract. 51 53 3. DEFINED TERMS. 54 3.1. Seller: City of Pueblo 5`i 56 ,; 3.2. Brokerage Firm: Rocky Mountain Realty 58 3.3. Broker: Shawn Martinez 50 61 3.4. Property.The Property is the following legally described real estate in the County of Pueblo 53 54 ,Colorado: 5 UNIT 1A and 1B RIVERWALK PLACE BUILDING CONDOMINIUMS +INT IN CE FORMERLY#05-364-49-012 , 67 68 known as No. 101 W Riverwalk, Pueblo, CO 81003, 69 70 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 1 of 9 Seller(s) Initials: CTMeContracts.com-©2017 CTM Software Corp. 71 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant 72 thereto, and all interest of Seller in vacated streets and alleys adjacent thereto, except as herein excluded. 73 74 3.5. Sale; Lease. 75 3.5.1. A Sale is the voluntary transfer or exchange of any interest in the Property or the voluntary 7b creation of the obligation to convey any interest in the Property, including a contract or lease. It also includes 78 an a reement to transfer any ownership interest in an entity which owns the Property. 79 3.5.2. If this box is checked, Seller authorizes Broker to negotiate leasing the Property. Lease of the 80 Property or Lease means any agreement between the Seller and a tenant to create a tenancy or leasehold 81 interest in the Property. 82 83 3.6. Listing Period.The Listing Period of this Seller Listing Contract begins on 12/12/2017 , and 84 continues through the earlier of(1)completion of the Sale of the Property or(2) 12/6/2018, and any written 85 86 extensions (Listing Period). Broker must continue to assist in the completion of any Sale or Lease for which 87 compensation is payable to Brokerage Firm under§ 7 of this Seller Listing Contract. 88 3.7. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. 89 90 The abbreviation"N/A"or the word"Deleted"means not applicable.The abbreviation "MEC"(mutual execution 91 of this contract) means the date upon which both parties have signed this Seller Listing Contract. 92 3.8. Day; Computation of Period of Days, Deadline. 93 94 3.8.1. Day.As used in this Seller Listing Contract, the term "day"means the entire day ending at 005 11:59 p.m., United States Mountain Time (Standard or Daylight Savings as applicable). 96 3.8.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending 97 98 date is not specified, the first day is excluded and the last day is included, e.g., three days after MEC. If any 99 deadline falls on a Saturday, Sunday or federal or Colorado state holiday(Holiday), such deadline®Will 0 100 Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be 11i` checked,the deadline will not be extended. 102 103 104 4. BROKERAGE RELATIONSHIP. 105 4.1. If the Seller Agency box at the top of page 1 is checked, Broker represents Seller as Seller's limited 106 107 agent(Seller's Agent). If the Transaction-Brokerage box at the top of page 1 is checked, Broker acts as a 108 Transaction-Broker. 109 4.2. In-Company Transaction—Different Brokers. When Seller and buyer in a transaction are working to with different brokers,those brokers continue to conduct themselves consistent with the brokerage 111. 112 relationships they have established. Seller acknowledges that Brokerage Firm is allowed to offer and pay 1 1 3 compensation to brokers within Brokerage Firm working with a buyer. 114 4.3. In-Company Transaction—One Broker. If Seller and buyer are both working with the same 15 1 16 broker, Broker must function as: 117 4.3.1. Seller's Agent. If the Seller Agency box at the top of page 1 is checked, the parties agree 118 the following applies: 11.9 120 4.3.1.1. Seller Agency Only. Unless the box in §4.3.1.2 (Seller Agency Unless Brokerage 121 Relationship with Both) is checked, Broker represents Seller as Seller's Agent and must treat the buyer as a 122 customer. A customer is a party to a transaction with whom Broker has no brokerage relationship. Broker must 123 1.24 disclose to such customer Broker's relationship with Seller. 125 0 4.3.1.2.Seller Agency Unless Brokerage Relationship with Both. If this box is checked, 12h Broker represents Seller as Seller's Agent and must treat the buyer as a customer, unless Broker currently has 127 or enters into an agency or Transaction-Brokerage relationship with the buyer, in which case Broker must act 128 129 as a Transaction-Broker. 130 4.3.2. Transaction-Broker. If the Transaction-Brokerage box at the top of page 1 is checked, or in 131 the event neither box is checked, Broker must work with Seller as a Transaction-Broker. A Transaction-Broker 132 1 3 3 must perform the duties described in § 5 and facilitate sales transactions without being an advocate or agent 134 for either party. If Seller and buyer are working with the same broker, Broker must continue to function as a 135 Transaction-Broker. 136 137 138 5. BROKERAGE DUTIES. Brokerage Firm, acting through Broker, as either a Transaction-Broker or a 139 Seller's Agent, must perform the following Uniform Duties when working with Seller: 140 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 2 of 9 Seller(s)Initials: CTMeContracts.com-©2017 CTM Software Corp. 141 5.1. Broker must exercise reasonable skill and care for Seller, including, but not limited to the following: 142 5.1.1. Performing the terms of any written or oral agreement with Seller; 143 144 5.1.2. Presenting all offers to and from Seller in a timely manner regardless of whether the 145 Property is subject to a contract for Sale; 146 5.1.3. Disclosing to Seller adverse material facts actually known by Broker; 147 148 5.1.4. Advising Seller regarding the transaction and advising Seller to obtain expert advice as to 149 material matters about which Broker knows but the specifics of which are beyond the expertise of Broker; 150 5.1.5. Accounting in a timely manner for all money and property received; and 51 5.1.6. Keeping Seller fully informed regarding the transaction. 152 153 5.2. Broker must not disclose the following information without the informed consent of Seller: 154 5.2.1. That Seller is willing to accept less than the asking price for the Property; 1 5 5.2.2. What the motivating factors are for Seller to sell the Property; 156 157 5.2.3. That Seller will agree to financing terms other than those offered; 158 5.2.4. Any material information about Seller unless disclosure is required by law or failure to 59 disclose such information would constitute fraud or dishonest dealing; or 160 5.2.5. Any facts or suspicions regarding circumstances that could psychologically impact or 162 stigmatize the Property. 163 5.3. Seller consents to Broker's disclosure of Seller's confidential information to the supervising broker 164 or designee for the purpose of proper supervision, provided such supervising broker or designee does not 105 165 further disclose such information without consent of Seller, or use such information to the detriment of Seller. 167 5.4. Brokerage Firm may have agreements with other sellers to market and sell their property. Broker " may show alternative properties not owned by Seller to other prospective buyers and list competing properties 109 1i 0 for sale. 171 5.5. Broker is not obligated to seek additional offers to purchase the Property while the Property is 72 subject to a contract for Sale. 173 171 5.6. Broker has no duty to conduct an independent inspection of the Property for the benefit of a buyer 175 and has no duty to independently verify the accuracy or completeness of statements made by Seller or 75 independent inspectors. Broker has no duty to conduct an independent investigation of a buyer's financial 17 7 condition or to verify the accuracy or completeness of any statement made by a buyer. 174 5.7. Seller understands that Seller is not liable for Broker's acts or omissions that have not been 180 approved, directed, or ratified by Seller. 181 5.8. When asked, Broker®Will 0 Will Not disclose to prospective buyers and cooperating brokers 15- P P Y P 9 193 the existence of offers on the Property and whether the offers were obtained by Broker, a broker within 84 Brokerage Firm or by another broker. 185 s/ 6. ADDITIONAL DUTIES OF SELLER'S AGENT. If the Seller Agency box at the top of page 1 is checked, 188 Broker is Seller's Agent,with the following additional duties: 189 6.1. Promoting the interests of Seller with the utmost good faith, loyalty and fidelity; 6.2. Seeking a price and terms that are set forth in this Seller Listing Contract; and 192 6.3. Counseling Seller as to any material benefits or risks of a transaction that are actually known by 193 Broker. 194 195 196 7. COMPENSATION TO BROKERAGE FIRM; COMPENSATION TO COOPERATIVE BROKER. Seller 197 agrees that any Brokerage Firm compensation that is conditioned upon the Sale of the Property will be earned 198 by Brokerage Firm as set forth herein without any discount or allowance for any efforts made by Seller or by 199 700 any other person in connection with the Sale of the Property. 201 7.1. Amount. In consideration of the services to be performed by Broker, Seller agrees to pay 202 Brokerage Firm as follows: ? 7.1.1. Sale Commission. 1 6% of thegrosspurchaseprice or 2 n/a, in U.S. dollars. 204 O O 205 7.1.2. Lease Commission. If the box in § 3.5.2 is checked, Brokerage Firm will be paid a fee equal to 206 (1) 7% of the gross rent under the lease, or(2) n/a, in U.S. dollars, payable as follows: n/a. 20�208 7.1.3. Other Compensation. n/a . 209 210 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 3 of 9 Seller(s)Initials: OW CTMeContracts.com-©2017 CTM Software Corp. 211 7.2. Cooperative Broker Compensation. Brokerage Firm offers compensation to outside brokerage 1 12 firms, whose brokers are acting as: ._13 214 ® Buyer Agents: 3% of the gross sales price or n/a, in U.S. dollars. 215 ®Transaction-Brokers: 3% of the gross sales price or n/a, in U.S. dollars. 216 7.3. When Earned. Such commission is earned upon the occurrence of any of the following: 217 218 7.3.1. Any Sale of the Property within the Listing Period by Seller, by Broker or by any other person; 719 7.3.2. Broker finding a buyer who is ready, willing and able to complete the Sale or Lease as 220 specified in this Seller Listing Contract; or 221 222 7.3.3. Any Sale (or Lease if§ 3.5.2 is checked)of the Property within 90 calendar days after the 223 Listing Period expires (Holdover Period) (1)to anyone with whom Broker negotiated and (2)whose name was 224 submitted, in writing, to Seller by Broker during the Listing Period (Submitted Prospect). Provided, however, 225 226 Seller®Will 0 Will Not owe the commission to Brokerage Firm under this §7.3.3 if a commission is earned 227 by another licensed real estate brokerage firm acting pursuant to an exclusive agreement entered into during 228 the Holdover Period and a Sale or Lease to a Submitted Prospect is consummated. If no box is checked in this 729 230 § 7.3.3, then Seller does not owe the commission to Brokerage Firm. 231 7.4. When Applicable and Payable. The commission obligation applies to a Sale made during the 2,32 Listing Period or any extension of such original or extended term. The commission described in § 7.1.1 is 34 payable at the time of the closing of the Sale, or, if there is no closing (due to the refusal or neglect of Seller) 235 then on the contracted date of closing, as contemplated by§ 7.3.1 or§ 7.3.3, or upon fulfillment of§ 7.3.2 236 where the offer made by such buyer is not accepted by Seller. 23? 238 23q 8. LIMITATION ON THIRD-PARTY COMPENSATION. Neither Broker nor Brokerage Firm, except as set 240 forth in § 7,will accept compensation from any other person or entity in connection with the Property without 2Y1 the written consent of Seller. Additionally, neither Broker nor Brokerage Firm is permitted to assess or receive 242 24 mark-ups or other compensation for services performed by any third party or affiliated business entity unless 244 Seller signs a separate written consent for such services. 245 246 247 9. OTHER BROKERS'ASSISTANCE, MULTIPLE LISTING SERVICES AND MARKETING. Seller has 22.1.3 been advised by Broker of the advantages and disadvantages of various marketing methods, including 246 advertising and the use of multiple listing services (MLS)and various methods of making the Property 250 accessible by other brokerage firms (e.g., using lock boxes, by-appointment-only showings, etc.), and whether 251 2 52 some methods may limit the ability of another broker to show the Property. After having been so advised, 253 Seller has chosen the following: 254 9.1. MLS/Information Exchange. 255 256 9.1.1. The Property®Will 0 Will Not be submitted to one or more MLS and 0 Will ®Will Not 257 be submitted to one or more property information exchanges. If submitted, Seller authorizes Broker to provide 2513 timely notice of any status change to such MLS and information exchanges. Upon transfer of deed from Seller 2 59 to buyer, Seller authorizes Broker to provide sales information to such MLS and information exchanges. 260 261 9.1.2. Seller authorizes the use of electronic and all other marketing methods except: n/A. 262 9.1.3. Seller further authorizes use of the data by MLS and property information exchanges, if any. 263 9.1.4. The Property Address 0 Will 0 Will Not be displayed on the Internet. 264 265 9.1.5. The Property Listing IS Will ❑ Will Not be displayed on the Internet. 266 9.2. Property Access.Access to the Property may be by: 2b7 El Manual Lock Box 0 Electronic Lock Box 268 269 ®n/a. 270 — 271 Other instructions: n/a . 272 9.3. Brokerage Marketing.The following specific marketing tasks will be performed by Broker: 2,73 Marketing will consist of the following: Listed in the Denver, Colorado Springs, and Pueblo 274 275 MLS, loop net and other major websites, Craigslist, signage and brochure.. 276 277 10. SELLER'S OBLIGATIONS TO BROKER; DISCLOSURES AND CONSENT. 278 ?79 10.1. Negotiations and Communication. Seller agrees to conduct all negotiations for the Sale of the 280 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 4 of 9 Seller(s)Initials. CTMeContracts.com-©2017 CTM Software Corp. 281 Property only through Broker, and to refer to Broker all communications received in any form from real estate 282 brokers, prospective buyers, tenants or any other source during the Listing Period of this Seller Listing 283 284 Contract. 285 10.2. Advertising. Seller agrees that any advertising of the Property by Seller(e.g., Internet, print and 286 signage) must first be approved by Broker. 287 288 10.3. No Existing Listing Agreement. Seller represents that Seller 0 Is ®Is Not currently a party 289 to any listing agreement with any other broker to sell the Property. 290 10.4. Ownership of Materials and Consent. Seller represents that all materials (including all Z91 photographs, renderings, images or other creative items) supplied to Broker by or on behalf of Seller are 293 owned by Seller, except as Seller has disclosed in writing to Broker. Seller is authorized to and grants to 294 Broker, Brokerage Firm and any MLS (that Broker submits the Property to) a nonexclusive irrevocable, 295 royalty-free license to use such material for marketing of the Property, reporting as required and the publishing, 290 297 display and reproduction of such material, compilation and data. This license survives the termination of this 298 Seller Listing Contract. 299 10.5. Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act(Act)generally 3applies if(1)the Property is residential (2)Seller resides in the Property as Seller's principal residence (3) 30101 302 Buyer's purpose in purchase of the Property is not to use the Property as Buyer's personal residence and (4) 303 the Property is in foreclosure or Buyer has notice that any loan secured by the Property is at least thirty days 304 395 delinquent or in default. If all requirements 1, 2, 3 and 4 are met and the Act otherwise applies, then a contract, 3,_. between Buyer and Seller for the sale of the Property, that complies with the provisions of the Act is required. If 307 the transaction is a Short Sale transaction and a Short Sale Addendum is part of the Contract between Seller 3°s and Buyer, the Act does not apply. It is recommended that Seller consult with an attorney. 31`) 311 11. PRICE AND TERMS. The following Price and Terms are acceptable to Seller: ' 11.1 Price. U.S. $ 1,150,000 313 314 11.2. Terms. 0 Cash Conventional 0 FHA ❑ VA 0 Other: n/a 315 11.3. Loan Discount Points. n/a 315 317 11.4. Buyer's Closing Costs(FHA/VA). Seller must pay closing costs and fees, not to exceed $ n/a, 318 that Buyer is not allowed by law to pay, for tax service and n/a. ` 3209 11.5. Earnest Money. Minimum amount of earnest money deposit U.S. $ 25000 in the form of good 321 funds 372 11.6. Seller Proceeds. Seller will receive net proceeds of closing as indicated: 323 324 0 Cashiers Check at Sellers expense; 0 Funds Electronically Transferred (Wire Transfer)to 325 an account specified by Seller, at Sellers expense; or 0 Closing Company.s Trust Account Check 326 11.7. Advisory: Tax Withholding. The Internal Revenue Service and the Colorado Department of 327 328 Revenue may require closing company to withhold a substantial portion of the proceeds of this Sale when 329 Seller either(1) is a foreign person or (2)will not be a Colorado resident after closing. Seller should inquire of 330 Seller's tax advisor to determine if withholding applies or if an exemption exists. 331 332 333 12. DEPOSITS. Brokerage Firm is authorized to accept earnest money deposits received by Broker 334 pursuant to a proposed Sale contract. Brokerage Firm is authorized to deliver the earnest money deposit to the 335 closing agent, if any, at or before the closing of the Sale contract. 330 337 338 13. INCLUSIONS AND EXCLUSIONS. 339 13.1. Inclusions. The Purchase Price includes the following items (Inclusions): 340 13.1.1. Fixtures. The followingitems are included if attached to the Property on the date of this 34 1 P Y 342 Seller Listing Contract, unless excluded under Exclusions (§ 13.2): lighting, heating, plumbing, ventilating, and 313 air conditioning fixtures, TV antennas, inside telephone, network and coaxial (cable)wiring and connecting 344 blocks/jacks, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, sprinkler systems 345 346 and controls, built-in vacuum systems (including accessories), garage door openers including n/a remote 4 7 controls. 3 48 Other Fixtures: n/a 343 350 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 5 of 9 C---•--------- Seller(s)Initials: , CTMeContracts.com-©2017 CTM Software Corp. 351 If any fixtures are attached to the Property after the date of this Seller Listing Contract, such additional fixtures 352 are also included in the Purchase Price. 353 354 13.1.2. Personal Property. The following items are included if on the Property, whether attached 355 or not, on the date of this Seller Listing Contract, unless excluded under Exclusions (§ 13.2): storm windows, 356 storm doors, window and porch shades, awnings, blinds, screens,window coverings, curtain rods, drapery 357 358 rods, fireplace inserts, fireplace screens, fireplace grates, heating stoves, storage sheds, and all keys. If 359 checked, the following are included: 0 Water Softeners 0 Smoke/Fire Detectors 0 Carbon Monoxide 360 Alarms 0 Security Systems 0 Satellite Systems (including satellite dishes); and 361 362n/a 363 The Personal Property to be conveyed at closing must be conveyed by Seller free and clear of all taxes 164 (except personal property taxes for the year of closing), liens and encumbrances, except n/a. 365 366 Conveyance will be by bill of sale or other applicable legal instrument. 367 13.1.3. Trade Fixtures. The following trade fixtures are included: n/a 363 The Trade Fixtures to be conveyed at closing must be conveyed by Seller, free and clear of all taxes 3b9 (except personal property taxes for the year of closing), liens and encumbrances, except n/a. Conveyance will 3 71 be by bill of sale or other applicable legal instrument. /2 13.1.4. Parking and Storage Facilities. 0 Use Only ®Ownership of the following parking facilities: 3/3 19 parking spaces in parkinglot- 2 hour parking; Pa 9 P Pa 9; 375 and 0 Use Only 0 Ownership of the following storage facilities: 376 n/a. 377 — 37.8 13.1.5. Water Rights. The following legally described water rights: n/a. 3711 Any water rights must be conveyed by n/a deed or other applicable legal 380 743, instrument. The Well Permit#is n/a. 392 13.1.6. Growing Crops. The following growing crops:Na. 333 13.2. Exclusions. The following are excluded (Exclusions): 384 385 n/a 386 387 14. TITLE AND ENCUMBRANCES. Seller represents to Broker that title to the Property is solelyin Seller's 383 P P Y 339 name. Seller must deliver to Broker true copies of all relevant title materials, leases, improvement location 390 certificates and surveys in Seller's possession and must disclose to Broker all easements, liens and other 3?i encumbrances, if any, on the Property, of which Seller has knowledge. Seller authorizes the holder of any 392 393 obligation secured by an encumbrance on the Property to disclose to Broker the amount owing on said 31.4 encumbrance and the terms thereof. In case of Sale, Seller agrees to convey, by a general warranty deed, 3r,7 only that title Seller has in the Property. Property must be conveyed free and clear of all taxes, except the 3% 39 7 general taxes for the year of closing. 398 All monetary encumbrances (such as mortgages, deeds of trust, liens, financing statements) must be 399 paid by Seller and released except as Seller and buyer may otherwise agree. Existing monetary encumbrances 400 401 are as follows: n/a. 40=1- The Property is subject to the following leases and tenancies: Na. 403 If the Property has been or will be subject to any governmental liens for special improvements installed 404 40,3 at the time of signing a Sale contract, Seller is responsible for payment of same, unless otherwise agreed. 406 4`1 15. EVIDENCE OF TITLE. Seller agrees to furnish buyer, at Seller's expense, unless the parties agree in 408 40<3 writing to a different arrangement, a current commitment and an owner's title insurance policy in an amount 410 equal to the Purchase Price as specified in the Sale contract, or if this box is checked, ❑ An Abstract of Title 411 certified to a current date. 412 413 414 16. ASSOCIATION ASSESSMENTS. Seller represents that the amount of the regular owners' association 415 assessment is currently payable at approximately$2423.20 per annually and that there are no unpaid 416 regular or special assessments against the Property except the current regular assessments and except n/a. 417 418 Seller agrees to promptly request the owners' association to deliver to buyer before date of closing a current 419 statement of assessments against the Property. 420 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 6 of 9 Seller(s)Initials CTMeContracts.com-©2017 CTM Software Corp. 421 422 17. POSSESSION. Possession of the Property will be delivered to buyer as follows: at funding, subject to 423 424 leases and tenancies as described in § 14. 425 426 18. MATERIAL DEFECTS, DISCLOSURES AND INSPECTION. 427 428 18.1. Broker's Obligations. Colorado law requires a broker to disclose to any prospective buyer all 429 adverse material facts actually known by such broker including but not limited to adverse material facts 430 pertaining to the title to the Property and the physical condition of the Property, any material defects in the 432 Property, and anyenvironmental hazards affectingthe Property which are required bylaw to be disclosed. 432 P Y, P Y q 433 These types of disclosures may include such matters as structural defects, soil conditions, violations of health, 434 zoning or building laws, and nonconforming uses and zoning variances. Seller agrees that any buyer may have 435 436 the Property and Inclusions inspected and authorizes Broker to disclose any facts actually known by Broker 437 about the Property. G38 18.2. Seller's Obligations. 439 Gag 18.2.1. Seller's Property Disclosure Form. Disclosure of known material latent(not obvious) 441 defects is required by law. Seller ❑Agrees ®Does Not Agree to provide a Seller's Property Disclosure 442 form completed to Seller's current, actual knowledge. 443 18.2.2. Lead-Based Paint. Unless exempt, if the improvements on the Property include one or 444 445 more residential dwellings for which a building permit was issued prior to January 1, 1978, a completed 446 Lead-Based Paint Disclosure (Sales)form must be signed by Seller and the real estate licensees, and given to '41' any potential buyer in a timely manner. 44 18.2.3. Carbon Monoxide Alarms. Note: If the improvements on the Property have a fuel-fired 449 48n heater or appliance, a fireplace, or an attached garage and one or more rooms lawfully used for sleeping 451 purposes (Bedroom), Seller understands that Colorado law requires that Seller assure the Property has an 4,32 .. operational carbon monoxide alarm installed within fifteen feet of the entrance to each Bedroom or in a location 153 P 454 as required by the applicable building code, prior to offering the Property for sale or lease. 455 18.2.4. Condition of Property. The Property will be conveyed in the condition existing as of the 456 date of the sales contract or lease, ordinary wear and tear excepted, unless Seller, at Seller's sole option, 45/ 468 agrees in writing to any repairs or other work to be performed by Seller. 45:5 460 19. RIGHT OF PARTIES TO CANCEL. 4,731 19.1. Right of Seller to Cancel. In the event Broker defaults under this Seller Listing Contract, Seller 462 463 has the right to cancel this Seller Listing Contract, including all rights of Brokerage Firm to any compensation if 464 the Seller Agency box is checked. Examples of a Broker default include, but are not limited to (1)abandonment 44o'8 of Seller, (2)failure to fulfill all material obligations of Broker and (3)failure to fulfill all material Uniform Duties 467 (§ 5)or, if the Seller Agency box at the top of page 1 is checked, the failure to fulfill all material Additional 468 Duties Of Seller's Agent(§6). Any rights of Seller that accrued prior to cancellation will survive such 469 cancellation. 470 171 19.2. Right of Broker to Cancel. Brokerage Firm may cancel this Seller Listing Contract upon written 472 notice to Seller that title is not satisfactory to Brokerage Firm.Although Broker has no obligation to investigate 4/3 or inspect the Property, and no duty to verify statements made, Brokerage Firm has the right to cancel this 4,E, Seller ListingContract if anyof the followingare unsatisfactory(1)the physical condition of the Property or e,5 PY � P Y 47€ Inclusions, (2)any proposed or existing transportation project, road, street or highway, (3)any other activity, 4/7 odor or noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants, 478 or(4) any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the 479 480 Property.Additionally, Brokerage Firm has the right to cancel this Seller Listing Contract if Seller or occupant of 481 the Property fails to reasonably cooperate with Broker or Seller defaults under this Seller Listing Contract. Any 48' rights of Brokerage Firm that accrued prior to cancellation will survive such cancellation. 483 484 485 20. FORFEITURE OF PAYMENTS. In the event of a forfeiture of payments made by a buyer, the sums 486 received will be divided between Brokerage Firm and Seller, one-half thereof to Brokerage Firm but not to 487 exceed the Brokerage Firm compensation agreed upon herein, and the balance to Seller.Any forfeiture of 488 489 payment under this section will not reduce any Brokerage Firm compensation owed, earned and payable under 490 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 7 of 9 c'-' Seller(s) Initials: CTMeContracts.com-©2017 CTM Software Corp. 491 § 7. 492 493 494 21. COST OF SERVICES AND REIMBURSEMENT. Unless otherwise agreed upon in writing, Brokerage 495 Firm must bear all expenses incurred by Brokerage Firm, if any, to market the Property and to compensate 496 cooperating brokerage firms, if any. Neither Broker nor Brokerage Firm will obtain or order any other products 497 498 or services unless Seller agrees in writing to pay for them promptly when due (examples: surveys, radon tests, 499 soil tests, title reports, engineering studies, property inspections). Unless otherwise agreed, neither Broker nor 500 Brokerage Firm is obligated to advance funds for Seller. Seller must reimburse Brokerage Firm for payments 501 made by Brokerage Firm for such products or services authorized by Seller. 502 503 504 22. DISCLOSURE OF SETTLEMENT COSTS. Seller acknowledges that costs, quality, and extent of 505 service vary between different settlement service providers (e.g., attorneys, lenders, inspectors and title 506 507 companies). 508 509 23. MAINTENANCE OF THE PROPERTY. Neither Broker nor Brokerage Firm is responsible for 510 511_ maintenance of the Property nor are they liable for damage of any kind occurring to the Property, unless such 512 damage is caused by their negligence or intentional misconduct. 513 514 24. NONDISCRIMINATION. The parties agree not to discriminate unlawfully against any prospective buyer 515 5 i6 because of the race, creed, color, sex, sexual orientation, marital status, familial status, physical or mental 51 7 disability, handicap, religion, national origin or ancestry of such person. 58 519 52o 25. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Seller 52 acknowledges that Broker has advised that this document has important legal consequences and has 522 recommended consultation with legal and tax or other counsel before signing this Seller Listing Contract. 523 524 525 26. MEDIATION. If a dispute arises relating to this Seller Listing Contract, prior to or after closing, and is not 526 resolved, the parties must first proceed in good faith to submit the matter to mediation. Mediation is a process 5z,7 5 in which the parties meet with an impartial person who helps to resolve the dispute informally and 52? confidentially. Mediators cannot impose binding decisions. The parties to the dispute must agree, in writing, ;r; before any settlement is binding. The parties will jointly appoint an acceptable mediator and will share equally 531 in the cost of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire 532 533 dispute is not resolved within 30 calendar days of the date written notice requesting mediation is delivered by 534 one party to the other at the other party's last known address. 535 536 27. ATTORNEY FEES. In the event of anyarbitration or litigation relatingto this Seller ListingContract,the 537 9 538 arbitrator or court must award to the prevailing party all reasonable costs and expenses, including attorney and 539 legal fees. 54'3 541 542 28. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the 543 Colorado Real Estate Commission.) 544 Professional Bull Riders basement units will be lease at$20 per square foot. The landlord 545 346 finish will be negotiable depending on the term and strength of tenant. 547 348 29. ATTACHMENTS. The followingpart of this Seller ListingContract: 549 area 550 n/a 551 55230. NO OTHER PARTY OR INTENDED BENEFICIARIES. Nothing in this Seller Listing Contract is deemed 553 554 to inure to the benefit of any person other than Seller, Broker and Brokerage Firm. 555 556 31. NOTICE, DELIVERY AND CHOICE OF LAW. 557 558 31.1. Physical Delivery. All notices must be in writing, except as provided in § 31.2. Any document, 559 including a signed document or notice, delivered to the other party to this Seller Listing Contract, is effective 560 LC50-8-13. EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT Page 8 of 9 Seller(s)Initials: CTMeContracts.com-©2017 CTM Software Corp. 561 upon physical receipt. Delivery to Seller is effective when physically received by Seller, any signator on behalf 562 of Seller, any named individual of Seller or representative of Seller. 563 564 31.2. Electronic Delivery. As an alternative to physical delivery, any document, including a signed 565 document or written notice, ma be delivered in electronic form only by the following indicated methods: 566 ®Facsimile ®E-mail Internet. If no box is checked, this § 31.2 is not applicable and §31.1 567 568 governs notice and delivery. Documents with original signatures will be provided upon request of any party. 569 31.3. Choice of Law. This Seller Listing Contract and all disputes arising hereunder are governed by 570 and construed in accordance with the laws of the State of Colorado that would be applicable to Colorado 571 residents who sign a contract in this state for property located in Colorado. 572 573 574 32. MODIFICATION OF THIS LISTING CONTRACT. No subsequent modification of any of the terms of this ,75 Seller Listing Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by 516 577 the parties. 578 579 33. COUNTERPARTS. This Seller Listing Contract may be executed by each of the parties, separately, and 580 531 when so executed by all the parties, such copies taken together are deemed to be a full and complete contract 582 between the parties. 583 5851x5 5 34. ENTIRE AGREEMENT. This agreement constitutes the entire contract between the parties, and any 585 prior agreements, whether oral or written, have been merged and integrated into this Seller Listing Contract. 587 538 35. COPY OF CONTRACT. Seller acknowledges receipt of a copy of this Seller Listing Contract signed by 539 590 Broker, including all attachments. 591 5'-42 Brokerage Firm authorizes Broker to execute this Seller Listing Contract on behalf of Brokerage Firm. 593 591 595 595 597 w Date: /2 '/ 1-I-7 syn - �- �-- 599 - - . i of Pueblo 500 By: Stephen G. Nawrocki, President of City Council 601 502 Address: 603 Phone: Fax: 604 Electronic Address:jovigil@pueblo.us 655 605 607 608 609 610 d 1 12/1/2017 612 Date: Broker: Shawn Martinez Brokerage Firms Name: Rocky Mountain Realty Address: 201 N. Main St. Pueblo, CO 81003 Ph: 719 240 2502 Fax: 877-220-4081 Electronic Address: shawn.p.martinez@gmail.com LC50-8-13 EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT LC50-8-13. 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