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: CFrTTnM 1 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. QPr'T'Tr)M 9 _ 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 By 41 0 TJ 33.13 -2-