HomeMy WebLinkAbout6331RESOLUTION NO. 6331
A RESOLUTION APPROVING THE ADDENDUM TO THE AGREEMENT
DATED AUGUST 1, 1986 BETWEEN THE CITY OF PUEBLO, A
MUNICIPAL CORPORATION, PUEBLO DEVELOPMENT FOUNDA-
TION, INC., A COLORADO NONPROFIT CORPORATION, AND
ATLAS PACIFIC ENGINEERING COMPANY, A DELAWARE
CORPORATION
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
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The Addendum to the Agreement dated August 1, 1986 between
the City of Pueblo, a Municipal Corporation, Pueblo Development
Foundation, Inc., a Colorado Nonprofit Corporation, and Atlas
Pacific Engineering Company, a Delaware Corporation, a copy of
said Addendum being attached hereto and incorporated herein,
having been approved by the City Attorney, is hereby approved.
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The President of the City Council is hereby directed and
authorized to execute said Addendum for and on behalf of the City.
INTRODUCED: February 13, 1989
ATTEST:
City Jerk
i
By DOUGLAS L. RING
Councilman
APPROVED:
rezident df the City Council
ADDENDUM
THIS ADDENDUM entered into this 13th day of February, 1989
between Pueblo Development Foundation, Inc., a Colorado Nonprofit
Corporation (herein "PDF "), the City of Pueblo, a Municipal Cor-
poration (herein "City ") and Atlas Pacific Engineering Company, a
Delaware Corporation (herein "Company "), WITNESSETH:
WHEREAS, PDF and Company entered into an Agreement dated
August 1, 1986 relating to the purchase and sale of real property
at Pueblo Memorial Airport (herein "Agreement), and
WHEREAS, City by Resolution No. 5862 approved the Agreement,
and
WHEREAS, Company is desirous of amending the Agreement to
extend by two (2) years the option and right of refusal granted by
paragraph 4(d) of the Agreement, and
WHEREAS, City and PDF are willing to amend the Agreement as
provided in this Addendum.
NOW, THEREFORE, in consideration of the foregoing and mutual
promises herein contained, City, PDF and Company agree as follows:
1. The first, second and sixth sub - paragraphs of paragraph
4(d) of the Agreement are hereby amended to read as follows:
(underscoring indicates material added, brackets indicate material
deleted):
City of Pueblo providing, at a sale price of $1.00 per acre,
a [three] five -year option, plus an additional two -year first
right of refusal as hereafter set forth on approximately 8.23
acres, more or less, shown in Exhibit "A" and described in
Exhibit "C" attached hereto and incorporated herein located
immediately north of the parcel being sold hereunder (herein
"Option Property "). The northern boundary for this property
is currently Braniff, and the southern boundary is Dana.
Company may exercise the option by showing there is a
reasonable expectation it will employ approximately sixty
(60) additional people on the Option Property within three
(3) years of the exercise of the option. The option shall be
exercised by Company by delivering to City on or before the
expiration of the [three] five - year option period Company's
written notice to exercise the option. If Company does not
give timely notice of its exercise of the option before its
expiration, the option hereby granted shall automatically
terminate.
For a period of two years after the expiration of the [three]
five -year option period Company shall have the right of first
refusal to purchase the Option Property upon the same terms
and conditions as City is willing to sell the Property to a
third person or entity (herein "Sale ") pursuant to a bona
fide offer from said third person or entity, and in the
absence of any said bona fide offer Company shall have the
right to purchase the Option Property at $1.00 per acre on
the same conditions as set forth above. Company shall, with-
in 180 days after receipt of written notice from City of a
Sale, deliver to City its written agreement to purchase the
Option Property upon the same terms and conditions as
contained in City's notice of Sale.
If the option or right of refusal is exercised, the City of
Pueblo will vacate Dana and Bell, and vacate any utility or
other easements on the Option Property or vacated streets
(except the utility easement for gas line located within the
southerly 15 feet of the Option Property), and relocate any
utilities thereon (except the gas line) at the request of the
Company if any permanent structure, foundation, or concrete
slab six inches or more in depth is to be located over any
such utilities or easements. Should Company's proposed use
of the Option Property require relocation of the gas line and
utility easement therefor, City will use its best efforts in
cooperating with Company's obtaining the most practica
rerouting of said easement, it being understood that the
relocation of same would be at the expense of Company.
2. The Agreement as amended by this Addendum shall remain
in full force and effect.
Executed at Pueblo, Colorado the day and year first above
written.
CITY OF PUEBLO PUEBLO DEVELOPMENT FOUNDATION, INC.
By By
Pr sident ef the City Council President
I/
ATLAS PACIFIC ENGINEERING COMPANY
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