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HomeMy WebLinkAbout09753ORDINANCE NO. 9753 AN ORDINANCE APPROVING AN OPTION AGREEMENT FOR SOLAR ENERGY SITE LEASE BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND BIGHORN SOLAR 1, LLC, A DELAWARE LIMITED LIABILITY COMPANY RELATING TO THE LEASE OF UNIMPROVED LAND FOR THE DEVELOPMENT OF A SOLAR ENERGY PROJECT AND AUTHORIZING THE MAYOR TO EXECUTE SAID OPTION AGREEMENT BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Option Agreement for Solar Energy Site Lease (“Option Agreement”) between the City of Pueblo, a Colorado municipal corporation and Bighorn Solar 1, LLC, a Delaware limited liability company, dated July 27, 2020, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. The Mayor is authorized to execute and deliver said Option 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 authorized and directed to perform any and all acts consistent with this Ordinance and the attached Option Agreement which are necessary or desirable to implement the transactions described therein. SECTION 3. This Ordinance shall become effective on the date of final action by the Mayor and City Council. REST OF THIS PAGE LEFT INTENTIONALLY BLANK SIGNATURE PAGE TO FOLLOW Action by City Council: Introduced and initial adoption of Ordinance by City Council on July 13, 2020 . Final adoption of Ordinance by City Council on July 27, 2020 . President of City Council Action by the Mayor: ☒ Approved on July 30, 2020 . □ Disapproved on based on the following objections: _ Mayor Action by City Council After Disapproval by the Mayor: □ Council did not act to override the Mayor's veto. □ Ordinance re-adopted on a vote of , on □ Council action on _______ failed to override the Mayor’s veto. President of City Council ATTEST City Clerk City Clerk’s Office Item # R-10 BACKGROUND PAPER FOR PROPOSED ORDINANCE COUNCIL MEETING DATE: July 13, 2020 TO: President Dennis E. Flores and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Brenda Armijo, City Clerk FROM: Scott Hobson, Acting Director of Planning and Community Development SUBJECT: AN ORDINANCE APPROVING AN OPTION AGREEMENT FOR SOLAR ENERGY SITE LEASE BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND BIGHORN SOLAR 1, LLC, A DELAWARE LIMITED LIABILITY COMPANY RELATING TO THE LEASE OF UNIMPROVED LAND FOR THE DEVELOPMENT OF A SOLAR ENERGY PROJECT AND AUTHORIZING THE MAYOR TO EXECUTE SAID OPTION AGREEMENT SUMMARY: Attached is a proposed Ordinance approving and authorizing the Mayor to sign Option Agreement for Solar Energy Site Lease with Bighorn Solar 1, LLC, a Delaware limited liability company (“Bighorn”). PREVIOUS COUNCIL ACTION: Not applicable to this Ordinance. BACKGROUND: On August 13, 2019, Public Service Company of Colorado entered into a Solar Purchase Power Agreement with CF&I Steel, LP to supply electric energy generated by photovoltaic solar collectors. Bighorn wishes an option to lease land owned by the City to place solar energy generation facilities in order to meet the solar power commitment to CF&I Steel. FINANCIAL IMPLICATIONS: Under the attached Option Agreement, Bighorn has the option of leasing approximately 150 acres of land owned by the City. Bighorn will pay the City $10,000 for the option. STAKEHOLDER PROCESS: Not applicable to this Ordinance. ALTERNATIVES: If this Ordinance is not approved, the City property will remain unimproved and Bighorn may be required to lease other land in order to meet the solar power commitment to CF&I Steel. RECOMMENDATION: The governing board of the Pueblo Economic Development Corporation recommends approval of this Ordinance. Attachments: Proposed Ordinance Proposed Option Agreement for Solar Energy Site Lease OPTION AGREEMENT FOR SOLAR ENERGY SITE LEASE THIS OPTION AGREEMENT FOR SOLAR ENERGY SITE LEASE (this "Option Agreement") is made and entered into as of July 27, 2020 (the "Effective Date") by and between Owner (defined below) and Bighorn Solar 1, LLC, a Delaware limited liability company ("Developer"). In consideration of the mutual promises and covenants contained in this Option Agreement, the adequacy and sufficiency of which are hereby acknowledged, Developer and Owner agree as follows: I. Basic Provisions. The following terms shall have the meanings set forth below: A. Owner" City of Pueblo , a municipal corporation 1 City Hall Place, Pueblo, CO 81003 B. "Property" Certain real property located in the County of Pueblo, State of Colorado, as more particularly described in Exhibit A attached hereto and incorporated herein by this reference. C. "Option Period" The period commencing on the Effective Date and expiring on December 31, 2020. D. "Initial Option Fee" $10,000 E. "Address for Notices" (a) Owner: City of Pueblo, a municipal corporation 1 City Hall Place,. Pueblo, CO 81003 (b) Developer: Bighorn Solar 1, LLC c/o Lightsource Renewable Energy Development, LLC 400 Montgomery Street, Eighth Floor San Francisco, CA 94104 Attn: Legal Notices 2. Grant of Option. Owner grants to Developer the exclusive right and option (the "Option") to enter into a lease of all or any portion of the Property to evaluate, develop, construct and operate a solar energy project (as more particularly described in the Solar Energy Site Lease attached hereto as Exhibit C, the "Generating Facility") together with all ancillary rights and easements for transmission and access in accordance with the terms and provisions of the Solar Energy Site Lease in substantially the form attached hereto as Exhibit C and incorporated herein by this reference (the "Lease"). This Option is made and given on the terms and conditions set forth in this Option Agreement. 3. Option Fee. As consideration for the Option,within ten (10)business days following the Effective Date, Developer shall make a payment to Owner of the Option Fee. Owner agrees to 1 provide Developer with a form W-9 and other reasonably requested information in connection with the payment of the Option Fee. 4. Exercise of Option. Developer may exercise the Option at any time during the Option Period, by written notice of exercise to Owner (the "Notice of Exercise"). Upon exercise of the Option, all of the rights, interests, obligations, conveyances and other terms and covenants of the Lease shall be immediately effective and binding on the parties. Notwithstanding the foregoing, Owner and Developer shall execute and have notarized the Lease in the form attached hereto as Exhibit C and the Memorandum of Lease in the form attached as Exhibit D within fifteen (15) days of Developer delivering a Notice of Exercise. The Notice of Exercise shall specify the Site(as defined in the Lease)and(if any)the Easements Lands(as defined in the Lease),with the understanding that if Developer leases less than all of the Property, and unless Developer determines in its reasonable discretion that portions of the Property might impede the efficient construction and operation of the Generating Facility (including, without limitation, as a result of biological, archeological, environmental, geological, geotechnical, hydrological, or title conditions on such portions of the Property), (a)the Site is expected to be along the northern boundary of the Property and then extend contiguously southerly and easterly over the Property,and(b)in specifying the Site, Developer shall use commercially reasonable efforts to minimize impeding Owner's commercial use of the portion of the Property not being leased by Developer. Upon Owner's request from time to time during the Option Period, Developer agrees to provide Owner with information related to the anticipated location of the Site and any Easement Lands. The Site will have a minimum acreage of 125 acres. 5. Representations, Warranties and Covenants. Owner represents and warrants to Developer that it owns the Property in fee simple. Owner further represents and warrants to Developer that Owner and each person signing this Option Agreement on behalf of Owner has the full and unrestricted power and authority to execute and deliver this Option Agreement and grant the interests herein granted. All persons having any ownership or possessory interest in the Property (including spouses)are signing this Option Agreement. Owner also represents that, upon and/or in connection with the exercise of the Option by Developer, Owner will obtain any necessary consents and/or subordination agreements from any lienholders and any and all tenants having a possessory interest in the Property at the time the Option is exercised. Additionally, Owner represents and warrants to Developer that as of the date hereof:(i)no third party has any option or right to purchase,lease,license, or otherwise occupy or use all or any part of the Property; (ii) Owner has not received any written notice of any pending eminent domain proceedings or other governmental actions or any judicial actions of any kind against Owner's interest in the Property; and (iii) Owner has not received written notice that it is in violation of any governmental law or regulation applicable to its interest in the Property or its operation thereon, including, without limitation, any environmental laws and has no reason to believe that there are grounds for any claim of any such violation. Notwithstanding the foregoing,the parties acknowledge that there exists a grazing lease on the Property,which Owner shall terminate on the exercise of the Option.Owner further represents and warrants to Developer that there are no deeds of trust,mortgages or liens encumbering the Property. 6. Developer Rights and Covenants During Option Period. Developer shall have the following rights and obligations during the Option Period: (a) Access to Property for Inspection and Resource Evaluation. Owner hereby grants Developer an exclusive license during the Option Period for Developer and its employees, 2 agents and permittees to have access to the Property for the purposes of inspection, survey,design of improvements, tests, and other actions reasonably related to the investigation by Developer of the suitability of the Property for solar energy development, including, but not limited to an evaluation of the Property's suitability as a solar energy site, solar intensity,zoning restrictions,transmission, meteorological studies and soil, water, environmental, archeological and geologic studies on the Property. During its presence on the Property, Developer shall cooperate with Owner to minimize disruption of the operations of Owner at the Property. Notwithstanding anything to the contrary in this Option Agreement, Developer shall be permitted to access the Property twenty-four (24) hours a day, seven (7)days a week as reasonably determined by Developer. The Developer and/or the developer's representatives shall provide the Owner or Managers of the Owner notice via email no later than 24 hours in advance of on-site investigation activities. (b) Permits. Owner hereby gives its consent to any action taken by Developer in applying for any and all governmental permits, licenses, certificates, approvals, variances and other entitlements for use ("Permits")necessary for the construction, installation and operation of the Generating Facility, and Owner hereby appoints Developer its agent for applying for such Permits and agrees to assist Developer in obtaining the Permits, if necessary, including, but not limited to joining with Developer in requesting any and all Permits necessary for Developer's development and use of the Generating Facility on the Property. Developer will carry out the activities set forth in this Section 6(b) in accordance with all applicable laws, rules, codes and ordinances at no cost to the Owner, and in such a manner as will not unreasonably interfere with Owner's operation or maintenance of the Property. In the event that the Developer does not exercise the Option to the Lease, the Developer shall incur the costs of returning the land to its original zoning and unsubdivided condition. (c) Access to Documents. Upon reasonable advance notice to Owner, Developer shall have access during normal business hours to any and all historic documents, drawings, plans, correspondence and memoranda in the possession or control of Owner which relate to the Property and which may be needed for regulatory planning or permitting purposes. (d) Easements. Owner agrees that within ten(10)days after receipt of a written request from Developer it shall review and if agreed upon approve the location of all rights-of- way and join in all grants for rights-of-way and easements for electric and other public utilities and facilities and any other electric power purpose including any power transmission line as Developer shall deem necessary or desirable for its development and use of the Property. In the event that the Developer requires an easement outside of the Site(as defined in the Lease) on land owned by the Owner, the Owner shall be compensated for the acreage comprising such easement by a one-time payment equal to $4,500.00 per acre of real property subject to such easement in accordance with the terms and conditions of the Lease. (e) Surface Damage. The parties acknowledge that there exists fencing on the Property. (f) Indemnification. Developer agrees to indemnify and hold harmless Owner, its officers,agents and employees from all liability, loss,claim,damage,cost and expense arising from or relating to the negligence acts or omissions or willful misconduct of Developer, its contractors or representatives, except to the extent, such property damage, personal injury or death results 3 from the gross negligence or willful misconduct of the Owner, its contractors, employees or representatives, or arise out of, or result from, the findings of Developer's investigations undertaken pursuant to this Option Agreement. The foregoing indemnity provision shall survive the exercise of the Option or the termination of this Option Agreement for a period of twelve (12) months and shall thereafter terminate and expire. 7. Defaults; Termination. 7.1 Defaults. Each of the following events shall constitute an event of default by the parties and shall permit the non-defaulting party to terminate this Option Agreement and/or pursue all other appropriate remedies: 7.1.1 The failure or omission by Developer to pay amounts required to be paid hereunder when due,and such failure or omission has continued for thirty(30)days after Owner has delivered a written notice of the default to Developer; or 7.1.2 The failure or omission by either party to observe, keep or perform any of the other terms,agreements or conditions set forth in this Option Agreement, and such failure or omission has continued for thirty (30)days (or such longer period required to cure such failure or omission, if such failure or omission cannot reasonably be cured within such thirty (30) day period and the cure is diligently and continuously pursued by the defaulting party)after written notice from the other party. 7.2 Termination by Developer. Developer may terminate this Option Agreement without fee at any time. Any payments of the Option Fee made to Owner prior to any termination of this Option Agreement by Developer shall be non-refundable. 8. Effect of Option Agreement; Interest in Real Property. The parties intend that the Option Agreement create a valid and present interest in the Property in favor of Developer. Therefore, this Option shall be deemed an interest in and encumbrance upon the Property which shall run with the land and shall be binding upon the Property and Owner and its successors and assigns and shall inure to the benefit of Developer and its successors and assigns. Owner covenants and agrees that during the Option Period, Owner shall not convey the Property or any interest therein or permit any lien or encumbrance to attach to the Property unless the transferee or lien holder, as the case may be, shall agree, in writing, to be bound by this Option Agreement. Owner shall also protect and defend Developer's interest in the Property and its rights and benefits under this Option Agreement. 9. Property Improvements.During the Option Period,Owner shall notify Developer of any proposed improvements on the Property and shall work with Developer to minimize the impact of such improvements on development of the proposed Generating Facility. 10. Intentionally Omitted. 11. Assignment. Developer shall at all times have the right to sell, assign, encumber, or transfer all or any part of its rights and interests under this Option Agreement without Owner's consent; provided, however, that the term of any such transfer shall not extend beyond the Option Period and that any and all such transfers shall be expressly made subject to all of the terms,covenants 4 and conditions of this Option Agreement. Developer shall provide the Owner prior notice of any proposed assignment and notice after any assignment is made. 12. Owner Mortgages. During the Option Period, Owner shall not mortgage or otherwise encumber its interest in the Property without providing Developer with fifteen (15)days prior written notice thereof and a subordination, non-disturbance and attornment agreement(s), in form and substance reasonably acceptable to Developer, from such holder(s) of any deed of trust, mortgage or other lien encumbering the Property. 13. Mortgage of Developer's Interest. Developer shall have the right to obtain financing from one or more Leasehold Mortgagee (as defined in the Lease) by way of a direct or collateral assignment of this Agreement to a Leasehold Mortgagee. Notwithstanding the fact that the parties to this Agreement have not yet executed the Lease, Owner agrees that the provisions of Section 12 of the Lease shall apply to any such financing related to this Agreement by any Leasehold Mortgagee. 14. Miscellaneous. 14.1 Ownership of Installed Property. Owner agrees that all property installed on the Property by Developer and its successors or assigns, whether real, personal or mixed, shall remain the property of Developer and shall be removable by Developer at any time. 14.2 Notices. All notices or other communications required or permitted hereunder, shall, unless otherwise provided herein, be in writing, shall be personally delivered, delivered by reputable overnight courier, or sent by registered or certified mail, return receipt requested, and postage prepaid, addressed to Owner at Owner's Address and addressed to Developer at Developer's Address. Notices personally delivered shall be deemed given the day so delivered. Notices given by overnight courier shall be deemed given on the first business day following the mailing date. Notices mailed as provided herein shall be deemed given on the third business day following the mailing date. Notice of change of address shall be given by written notice in the manner detailed in this Section 14.2. 14.3 Further Assurances. Each of the parties to this Option Agreement, without further compensation, agrees to perform all such acts (including but not limited to, executing and delivering instruments and documents) as reasonably may be necessary to comply with recording requirements or to otherwise fully effectuate each and all of the purposes and intent of this Option Agreement, including without limitation, reasonable amendments hereto as may be required by any mortgagee or lender of Developer(a"Mortgagee")or required in connection with the transfer by Developer of the rights granted under this Option Agreement. Owner expressly agrees that it will from time to time enter into reasonable nondisturbance agreements with any Mortgagee which requires such an agreement stating that Owner shall recognize the rights of the Mortgagee and not disturb its possession of the Property so long as it is not in default of any of the provisions of this Option Agreement. 14.4 Estoppel Certificates. Each party agrees that it shall, at any time during the Option Period within (10) days after a written request by the other party, execute, acknowledge and deliver to the requesting party a written statement certifying that this Option Agreement is 5 unmodified and in full force and effect (or modified and stating the modifications), the dates on which the payments and any other charges have been paid, and that there are no defaults existing or that defaults exist and stating the nature of such defaults. 14.5 No Waiver. No waiver of any right under this Option Agreement shall be effective for any purpose unless it is in writing and is signed by the party hereto possessing the right, nor shall any such waiver be construed to be a waiver of any subsequent right, term or provision of this Option Agreement. 14.6 Confidentiality. Owner shall maintain in the strictest confidence, for the sole benefit of Developer, Developer's site design and product design, methods of operation and methods of construction and power production or availability of the Developer's project, and, without written permission from Developer, Owner shall not issue any statements or press releases regarding such matters. Developer acknowledges that this Option Agreement is a public record subject to disclosure under the Colorado Open Records Act. This Section 11.6 shall survive the termination or expiration of this Option Agreement. 14.7 Entire Agreement. This Option Agreement, together with its attached exhibits,contains the entire agreement between the parties hereto with respect to the subject matter hereof and any prior agreements, discussions or understandings, written or oral, are superseded by this Option Agreement and shall be of no force or effect. No addition or modification of any term or provision of this Option Agreement shall be effective unless set forth in writing and signed by each of the parties. 14.8 Governing Law. The terms and provisions of this Option Agreement shall be interpreted in accordance with the laws of the State of Colorado applicable to contracts made and to be performed within such State and without reference to the choice of law principles of such State or any other state. 14.9 Interpretation. The parties agree that the terms and provisions of this Option Agreement embody their mutual intent and that such terms and conditions are not to be construed more liberally in favor, or more strictly against, either party. The rule of strict construction shall not apply to this Option Agreement. This Option Agreement shall be given reasonable construction so that the intention of Owner and Developer to confer reasonably useable benefits and reasonably enforceable rights and obligations is carried out. 14.10 Partial Invalidity. Should any term or provision of this Option Agreement, or the application thereof to any person or circumstance,to any extent, be invalid or unenforceable, the remainder of this Option Agreement or the application of such term or provision to persons or circumstances other than those to which it is held invalid or unenforceable, shall not be effected thereby, and each remaining term and provision of this Option Agreement shall be valid and enforceable to the fullest extent permitted by law. 14.11 Counterparts; Electronic Execution. This Option Agreement may be executed and recorded in two or more counterparts, each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same instrument. The Agreement may be duly executed and delivered by electronic means. 6 14.12 Attorneys' Fees. The prevailing party in any action or proceeding for the enforcement, protection, or establishment of any right or remedy under this Option Agreement or for the interpretation of this Option Agreement shall be entitled to recover its reasonable attorneys' fees and costs in connection with such action or proceeding from the non-prevailing party. 14.13 No Representation. Developer makes no representation or warranty as to the likelihood that it will exercise the Option or as to the suitability of the Property for development of solar energy facilities. 14.14 Relationship of Parties. The duties, obligations and liabilities of each of the parties are intended to be several and not joint or collective. This Option Agreement shall not be interpreted or construed to create an association,joint venture, fiduciary relationship or partnership between Owner and Developer or to impose any partnership obligation or liability or any trust or agency obligation or relationship upon either party. Owner and Developer shall not have any right, power, or authority to enter into any agreement or undertaking for, or act on behalf of, or to act or be an agent or representative of, or to otherwise bind, the other party. 14.15 Memorandum of Option. Concurrent with the execution of this Option Agreement the parties shall execute a Memorandum of Option in the form attached hereto as Exhibit B and incorporated herein by this reference. Developer may, at its expense, record the Memorandum of Option. [signatures on following page] 7 IN WITNESS WHEREOF, the parties have executed this Option Agreement as set forth below. "OWNER" CITY OF PUEBLO, a Colorado municipal corporation ...- Attcs J'1da By (41"e;14.41414)41/11; City Clerk: Brenda Armijo Mayor:Nicholas A.Gradisar "DEVELOPER" Bighorn Solar 1, LLC, a Delaware limited liability company By: Name: Kevin Christy Title: COO, North America 8 EXHIBIT A DESCRIPTION OF THE PROPERTY All of that certain real property in the County of Pueblo, State of Colorado described as follows: A Parcel of land located in the northeast one-quarter of Section 1, Township 22 South, Range 65 West, the east one-half of Section 36, Township 21 South, Range 65 West, the northwest one-quarter of Section 6, Township 22 South, Range 64 West, and Section 31, Township 21 South, Range 64 West, the 6th P.M. in the County of Pueblo and State of Colorado and being more particularly described as follows: Basis of Bearings is the north line of Section 36, monumented on the west with a found 3 1/4" aluminum cap stamped with P.L.S. No. 33200 and monumented on the east with a found 3 1/4" aluminum cap stamped with P.L.S. No. 33200, to bear N. 89°19'04" W. and all bearings being relative thereto. Beginning at the southeast corner of the Lot 1 in Block 1, St. Charles Industrial Park, Filing No. 1 according to the recorded plat thereof filed for record on June 4, 2012 at Reception No. 1909383 in the records of Pueblo County Recorder; thence N. 03°00'08" E. along the east line of said Lot 1 in Block 1, St. Charles Industrial Park, Filing No. 1, a distance of 2,455.66 feet to the northeast corner of said Lot 1 in Block 1, St. Charles Industrial Park, Filing No. 1; thence N. 88°25'10" W. along the north line of said Lot 1 in Block 1, St. Charles Industrial Park, Filing No. 1, a distance of 955.29 feet to the . southeast corner of a parcel of land deeded to the City of Pueblo according to the Special Warranty Deed filed for record on January 1, 2015 at Reception No. 1995360 in the records of Pueblo County Recorder; thence N. 03°00'08" E. along the east line of said Parcel deeded to the City of Pueblo, a distance of 3,492.86 feet; thence S. 89°19'04" E., a distance of 1,880.35 feet to the east line of said Section 36; thence S. 88°05'25" E., a distance of 3,849.90 feet more or less to a point on the west line of a parcel of land according to the Warranty Deed filed for record on June 9, 1988 at Reception No. 864836 in the records of Pueblo County Recorder; thence S. 00°12'55" W. along said west line, a distance of 1,578.96 feet more or less to a point on the northerly right-of-way of Lime Road as presently located; thence S. 62°44'38" W. along the said northerly right-of-way of Lime Road, a distance of 228.22 feet more or less to a existing barbed wire fence; thence N. 83°50'30"W. along said existing barbed wire fence, a distance of 1,249.36 feet ; thence S. 00°56'25" E. along the existing barbed wire fence, a distance of 950.94 feet more or less to a point on the northerly right-of-way of Lime Road as presently located; thence S. 52°58'30" W. along the said northerly right-of-way of Lime Road, a distance of 1,387.21 feet more or less to an angle point in said right-of-way; thence N. 89°54'35" W. continuing along the said northerly right-of way of Lime Road, a distance of 23.82 feet more or less to a point of intersection of the northerly right-of-way line of Lime Road as presently located and the southeasterly line of a parcel of land according to the Warranty Deed filed for record on December 7, 2017 at Reception No. 2090434 in the records of Pueblo County Recorder; thence S.52°52'27" W. along the said southeasterly line, a distance of 1,047.62 feet; thence continuing along the southeasterly line, along the arc of a curve to the left whose radius is 2,060.00 feet, a distance of 410.08 feet; thence S. 41°28'06" W. continuing along the said southeasterly line, a distance of 216.22 feet more or less to the west line of said Section 6; thence S. 00°09'33" W. along said west line of Section 6 and the said southeasterly line, a distance of 7.57 feet; thence S. 41°28'06" W. continuing along the said southeasterly line, a distance of 1,121.20 feet more or less to a point of intersection of the said southeasterly line and the northwesterly right-of-way line of Lime Road as presently located; thence S. 19°56'44" W. along the northwesterly right- of-way of Lime Road as presently located, a distance of 66.68 feet more or less to an angle point; thence S. 41°29'46" W. along the said northerly right-of-way of Lime Road, a distance of 424.05 feet more or less to the northeasterly platted Lime Road right-of-way in St. Charles Industrial Park, Filing No. 2, according to the recorded plat thereof filed for record on May 4, 2017 at Reception No. 2069460 in the records of Pueblo County Recorder; thence N. 48°14'59" W. along the said platted Lime Road right-of-way, a distance of 24.26 feet; thence S. 41°45'01" W. continuing along the said platted Lime Road right-of-way, a distance of 262.68 feet to the Point of Beginning. Containing 448.59 acres, more or less. 10