HomeMy WebLinkAbout5133RESOLUTION NO. 5133
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO ENTER INTO AN AGREEMENT WITH FOUNTAIN
SAND AND GRAVEL CO. TO PURCHASE A PARCEL
OF LAND 10.55 ACRES IN AREA FOR THE SUM
OF $125,000.00 TO BE USED FOR THE SITE
OF THE NEW WASTEWATER TREATMENT PLANT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PUEBLO, COLORADO, that:
SECTION 1.
The City Manager is hereby authorized to enter into an
agreement with Fountain Sand and Gravel Co., upon such terms and
conditions as are necessary and desirable, for the purchase
of a parcel of land 10.55 acres in area, and described more
particularly in attachment "A" to this resolution, for a sum
not to exceed $125,000.00, which land is to be used for the
site of a wastewater treatment plant.
SECTION 2.
This Resolution shall become effective upon final
approval.
INTRODUCED April 25 , 1983
By HAROLD MAB JR.
Councilperson
ATTEST- APPROVED:
� Q� ? ;�k
- ;� yde a. �'L 4
i Gl rk President of 'the - City Council
COMMERCIAL CONTRACT TO BUY AND SELL REAL ESTATE
1. Fountain Sand & Gravel Company (herein "Seller ") hereby
acknowledges having received from the City of Pueblo, a Municipal
Corporation (herein "Purchaser "), the sum of One Dollar ($1.00),
in the form of cash, to be held by Seller as earnest money and
part payment for the following real estate described as follows:
A portion of Lots 1 and 2, lying north of the Arkansas
River in the NE Quarter of Section 5, Township 21 South,
Range 64 West of the 6th P.M., more particularly described
as follows:
Beginning at the northwest corner of the said Lot 2
of Section 5; thence easterly along the north line of said
Lot 2, a distance of 415.00 feet to the point of beginning;
thence southerly, parallel to the west line of the said
Lot 2, a distance of 500.00 feet; thence easterly and
parallel to the north line of said Lot 2, a distance of
755.00 feet to a point 15 feet west of the centerline
of the Booth Ditch; thence northeasterly along a line
at a deflection angle of 56 with the last course
extended easterly, a distance of 598.22 feet to a point
on the north line of Lot 1 of Section 5; thence westerly
along the north line of Lot 1 and Lot 2 of Section 5; a
distance of 1082.57 feet more or less to the point of
beginning. Said tract of land contains 10.55 acres more
or less; together with all sand, gravel and mineral rights
located thereon or associated therewith;
Reserving to the grantor all right and title to well
No. 5 and all water rights and pumping equipment associated
therewith, said well being located a distance of 67.3 feet,
more or less, along a line extended North 24.5' East of the
Southwest corner of said tract, together with a twenty (20)
foot wide easement to allow ingress and egress to said well
at such location or locations as may be determined from
time to time by the grantee;
And reserving to the grantor a thirty (30) foot wide
right of way for use as a roadway along the north
boundary of said tract, beginning at a point on the west
boundary of Reading Street extended south, which is
451.00 feet east of the point of beginning of said tract,
and continuing easterly to the northeast corner of said
tract.
2. Purchaser agrees to buy the Property and Seller hereby
agrees to sell the Property upon the terms and conditions stated
herein.
3. The purchase price shall be One Hundred Twenty -Five
Thousand Dollars ($125,000.00), payable as follows: One Dollar
($1.00) hereby receipted for and the balance of purchase price
at the time of closing.
4. The above mentioned purchase price includes any personal
property located on the Property except that expressly reserved to
Seller as provided in paragraph 1 hereof.
5. All costs for title insurance shall be paid by Purchaser.
6. Closing shall be on or before April 30, 1983, except
that closing may be extended for not more than thirty (30) days
after receipt by Purchaser of a Title Insurance Commitment for
the Property. Closing shall take place in the office of the
City Manager of the City of Pueblo at such date and time as
Purchaser shall designate. At closing the deed and the payment
of the purchase price shall be exchanged. The deed to be executed
and delivered by Seller to Purchaser shall be a warranty deed
conveying marketable title to the Property free and clear of
all liens, encumbrances and taxes, except the general taxes
for the year of closing, which taxes shall be prorated to the
date of closing.
7. Any encumbrance required to be paid may be paid at
the time of settlement from the proceeds of this transaction
or from any other source. Provided, however, at the option
of either party, if the total indebtedness secured by liens
on the Property exceeds the purchase price, this contract
shall be void and of no effect and each party hereby shall
be released from all obligations hereunder and all payments
and things of value received hereunder shall be returned to
Purchaser.
8. If title is not merchantable or if the Title Insurance
Commitment delivered to Purchaser contains exceptions not
acceptable to Purchaser, and written notice of defects or
exceptions is given by Purchaser to Seller, on or before
closing date, Seller, prior to closing, shall correct said
defects or cause said exceptions to be removed from the Title
Insurance Policy when issued. If Seller is unable to correct
said defects or cause said exceptions to be so removed on or
before the date of closing, at Seller's option and upon written
notice to Purchaser, on or before the date of closing, the date
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of closing shall be extended thirty (30) days for the purpose of
correcting said defects or removing said exceptions. If such
defects are not corrected or exceptions so removed as provided in
this paragraph, at Purchaser's option, this contract shall be void
and of no effect and each party hereto shall be released from all
obligations hereunder and all payments and things of value received
by Seller hereunder shall be returned to Purchaser.
9. Possession of the Property shall be delivered to Purchaser
on the date of closing.
10. This agreement shall not be valid or enforceable unless
and until authorized by resolution of the City Council.
11. Seller further agrees for itself, its parent company and
all subsidiaries thereof, to cooperate and assist in all actions
undertaken by grantee after conveyance of the Property to rezone,
obtain use approval and obtain site designation approval for use of
the parcel as a site for wastewater treatment facilities.
SELLER:
FOUNTAIN SAND & GRAVEL COMPANY
B
0
Date:
PURCHASER:
CITY OF PUEBLO, A Municipal
Corporation
By
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Date:
Purchaser's Address:
1 City Hall Place
Pueblo, CO 81003
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