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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 -2- 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 f Date: Purchaser's Address: 1 City Hall Place Pueblo, CO 81003 -3-