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Home My WebLink About14412RESOLUTION NO. 14412 A RESOLUTION APPROVING AN AMENDMENT TO QUITCLAIM DEED PROVIDING FOR THE DELETION OF A REVERSIONARY INTEREST TO THE CITY OF PUEBLO, AS REFERENCED IN THE QUITCLAIM DEED DATED MARCH 25, 2002, AND RECORDED IN THE RECORDS OF THE CLERK AND RECORDER OF PUEBLO COUNTY ON APRIL 5, 2002 AT RECEPTION NO. 1433515, WHICH QUITCLAIM DEED CONVEYED TO THE PUEBLO CITY- COUNTY LIBRARY DISTRICT THE CITY OF PUEBLO’S INTEREST AND TITLE IN AND TO THE MCCLELLAND LIBRARY AND BUILDING, AND AUTHORIZING THE MAYOR TO EXECUTE SUCH AMENDMENT BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Amendment to Quitclaim Deed dated May 26, 2020 providing for the deletion of a reversionary interest to the City of Pueblo as referenced in the Quitclaim Deed dated March 25, 2002, and recorded in the records of the Clerk and Recorder of Pueblo County on April 5, 2002, at Reception No. 1433515, which Quitclaim Deed conveyed to the Pueblo City-County Library District the City of Pueblo’s interest and title in and to the McClelland Library land and building, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. SECTION 2. The Mayor is authorized to execute and deliver the Amendment to Quitclaim Deed in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 3. This Resolution shall become effective immediately upon final passage. INTRODUCED May 26, 2020 BY: Ed Brown _____ MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY CLERK City Clerk’s Office Item # M-4 Background Paper for Proposed Resolution COUNCIL MEETING DATE: May 26, 2020 TO: President Dennis E. Flores and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Brenda Armijo, City Clerk FROM: Daniel C. Kogovsek, City Attorney SUBJECT: A RESOLUTION APPROVING AN AMENDMENT TO QUITCLAIM DEED PROVIDING FOR THE DELETION OF A REVERSIONARY INTEREST TO THE CITY OF PUEBLO, AS REFERENCED IN THE QUITCLAIM DEED DATED MARCH 25, 2002, AND RECORDED IN THE RECORDS OF THE CLERK AND RECORDER OF PUEBLO COUNTY ON APRIL 5, 2002 AT RECEPTION NO. 1433515, WHICH QUITCLAIM DEED CONVEYED TO THE PUEBLO CITY- COUNTY LIBRARY DISTRICT THE CITY OF PUEBLO’S INTEREST AND TITLE IN AND TO THE MCCLELLAND LIBRARY AND BUILDING, AND AUTHORIZING THE MAYOR TO EXECUTE SUCH AMENDMENT SUMMARY: Attached for consideration is a Resolution which removes a cloud on title on property conveyed by the City to the Pueblo City-County Library District in 2002. PREVIOUS COUNCIL ACTION: The City of Pueblo, by the Quitclaim Deed dated March 25, 2002, and recorded in the records of the Clerk and Recorder of Pueblo County on April 5, 2002, at Reception No. 1433515, conveyed to the Pueblo City-County Library District the City of Pueblo’s interest and title in and to the McClelland Library land and building. BACKGROUND: The Pueblo City-County Library District is in the process of refinancing certain long-term financial obligations and has been advised by a title company that a cloud on title exists on land conveyed by the City to the District in 2002. The 2002 conveyance was made by Quitclaim Deed and the intent of the parties in 2002 was that the City would disclaim any and all right, title and interest in the property. The Library District’s title company is requesting that the 2002 Quitclaim Deed be amended to expressly disclaim any reversionary interest in the property on the part of the City. This Resolution approves the Amendment to the 2002 Quitclaim Deed and authorizes the Mayor to sign same. FINANCIAL IMPLICATIONS: None. BOARD/COMMISSION RECOMMENDATION: Not applicable to this Resolution. STAKEHOLDER PROCESS: Not applicable to this Resolution. ALTERNATIVES: If City Council does not approve this Resolution, the cloud on title will remain which would delay the Library District’s refinancing process. RECOMMENDATION: Approval of the Resolution. Attachments: Proposed Resolution and proposed Amendment to Quitclaim Deed. re: Resolution 14412 Reception 2179953 06/03/2020 02:48:59 PM AMENDMENT TO QUITCLAIM DEED THIS AMENDMENT TO QUITCLAIM DEED (this "Amendment") is hereby made and entered into as of the 26th day of May, 2020, by and between the CITY OF PUEBLO, a municipal corporation of the County of Pueblo and State of Colorado ("Grantor") and PUEBLO CITY- COUNTY LIBRARY DISTRICT, a Colorado nonprofit corporation ("Grantee"). WITNESSETH WHEREAS, by Quitclaim Deed dated as of the March 25, 2002 (the "Deed"), recorded on April 5,2002,at Reception No. 1433515 in the office of the Clerk and Recorder of Pueblo County, Colorado, Grantor conveyed to Grantee certain real property described on Exhibit A attached hereto and incorporated herein by this reference (the "Property"); WHEREAS, the Property was conveyed to Grantee subject to a contingent reversionary interest in favor of Grantor. Under the terms and conditions of the Deed, if the Property is not maintained and used as a public library serving the residents of Grantor, as set forth in the second paragraph of the Deed, the Property reverts back to Grantor(the "Reversionary Interest"); WHEREAS, Grantee intends to enter into certain financing which will encumber certain real property, including among others, the Property, and which financing structure may be negatively impacted by the existence of the Reversionary Interest in the Property. WHEREAS, the parties wish to amend the Deed in connection with such Reversionary Interest, as more specifically provided below. NOW THEREFORE, for an in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 1. Deletion of Reversionary Interest. The parties agree that the Reversionary Interest in the Deed is hereby deleted in its entirety and is of no further force or effect. 2. Ratification. Except as amended hereby, all terms of the Deed and the Deed shall remain in full force and effect without modification. 3. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Colorado. IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set forth above. . 2179953 06/03/2020 02:48:59 PM Page: 2 8. D . 8.00 Gilbert Ortofiz4 ClerkR2!Record00er0 P00ueb11 2lo County, Co 11111 POFaIN ruinIm 1 i'4ii l'ilidliiiitIA1Kt,iii i' iiirh 11 III /, v,,,Lk), vc GRANTOR: 4 „A.,.'� 't=� CITY OF PUEBLO, a Municipal corporation (N ' 11 0 • By: l, �. y - `�"IName: Nicholas A. radisar i allMlit tc) ��4r ._. 4,,,/,, Title: Mayor STATE OF COLORADO ) ) ss. COUNTY OF PUEBLO ) ., The foregoing instrument was acknowledged before me this oZ/ day of May, 2020, by Nicholas A. Gradisar, as Mayor of the CITY OF PUEBLO, a municipal corporation. Witness my hand and official seal. Notary Public My Commission Expires: VIX3P-1 BELINDA KIMBALL NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20094005563 MY COMMISSION EXPIRES FEBRUARY 23,2021 • 2179953 06/03/2020 02:48:59 PM Page: 3 of 4 R 28. 0.00 11 2 8.0 Gilbert Ortiz C1erk7Recor00dDer, Pueblo Count0 y, Co 11111 MI�� ;1leir1r)11 htiJ�RV lh�ti� � �h 1I II GRANTEE: PUEBLO CITY-COUNTY LIBRARY DISTRICT, a Colorado nonprofit corporation By: IS# Name: `Do reen Title: reS;dCnk Agq.) uF J 4-4-teS ALEXANDRIA ALLISON ROMERO STATE OF COLORADO ) Notary Public- State of Colorado NotaryID 20144018957 ) SS. my Commission Expires May 16, 2022 COUNTY OF PUEBLO The foregoing instrument was acknowledged before me this 3° day of J 0. , 2020, by ,AttAxAMdVIo-A: omo co , asWosd }etsmsidtni- of the PUEBLO CITY-COUNTY LIBRARY DISTRICT, a Colorado nonprofit corporation. Witness my hand and official seal. • I i� 111 •tary Public My Commission Expires: , u\ ‘to aoaa • 2179953 06/03/2020 02:48:59 PM Page: 4 of 4 R 28.00 D 0.00 T 28.00 Gilbert Ortiz Clerk/Recorder Pueblo County, Co 111114P.r Irilifil +i�Cl I1111i �i��ti'�Y �Wr�� 5 III EXHIBIT A LEGAL DESCRIPTION A parcel of land being the unnamed triangle block and !'ocated directly northwest of B1Crck 0 bath within South Puebla according to the recorded plat thereof filed for recorded December Q. 1872 it Book 2A at Page 4 of Pats within the records of the Pueblo County Clerk and Recorder and being o portion of the S 7/2 of the SW .1/4 of .Section 36, township 20 South, Range 65 West of the Sixth Principal Meridian, being more particularly described as follows.' BEGINNING of the northwesterly corner of the intersection of Abriendo Avenue and Newton Avenue said point also being the most southerly corner of said unnamed tract, from which the City Reference ,Morrument for the intersect on of Broadway Avenue and soid Abriendo Avenue bears S t7-11,3'35"£ (Bearings boseft on the line from the said City Peference ,AA'anument for the intersection of Broadway Avenue and Abrienda Avenue to the City Reference Monument for the intersection of Church PIOce and Main Street rnanarr►ente'd of each end with a concrete monument with lead and brass Pock ;n a cast iron monument box, assumed to bear N 74'50'504E) a distance of 175.50 feet; thence N 44'07'09 NV clang the northeasterly right of way line of said Abriendo Avenue a distance Of J05.2.3 to a point on the southeasterly corner of the intersection of said Abriendo Avenue and union Avenue, sold point also being the most westerly corner of sand unnamed tract, thence along the southeasterly right of way line of said Union Avernie and the north line of sold unnamed tract the following three (J) courses. 1. N 4.5"58.57 -E a distance of 4727 fees; 2. N 8,3'50'04 7- a distance of 360.04 feet; 3. Along the arc of a curve to the right having o centro; anile of 141'420.5" ono a radius of 35.00 feet, a distance of 86,55 feet to o point on the northwesterly right of way of said Newton Avenue and the southeasterly line of said unnamed tract; thence °ting said northwester?y right of way line the fallowing two 2) courses: 1. S 4.5%32'09 W a f1o'stance of 745.04 feet; 2. 5 . 8'5.3'5O'k' a distance of 166.5? feet to (he POINT OF BEGINNING. City of Pueblo, County of Pueblo. Said Parcel ccintoins 1.49 acres more Dr less_