HomeMy WebLinkAbout6428RESOLUTION NO. 6428
A RESOLUTION APPROVING A CONTRACT TO EXCHANGE
REAL ESTATE BETWEEN PUEBLO, A MUNICIPAL
CORPORATION AND ARTHUR CORONA AND AUTHORIZING
THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE
SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1_
The Contract to Exchange Real Estate dated July 20, 1989
between Pueblo, a Municipal Corporation, as First Party, and Arthur
Corona, as Second Party, a copy of which is attached hereto and
incorporated herein, having been approved as to form by the City
Attorney, and the acceptance of a warranty deed from the second party
and execution of a warranty deed from the City as therein
contemplated, are hereby approved.
SECTTON 2_
The President of the City Council is hereby authorized to
execute and deliver the Contract To Exchange Real Estate and the
warranty deed from the City as therein contemplated in the name of
and on behalf of the City and the City Clerk is directed to affix
the seal of the City thereto and attest same.
INTRODUCED: August 14, 1989
ATTEST:
C- & ' . 1 - 11f /.
Ci C erk
By MIKE SALARDINO
Councilman
APPROVED:
Pres dent of the City Council
Thr i•rinied po rhos) of this form apprw ed by the
C-loredo R, ai F:etatc C o— mssaonfi5i
CONTRACT TO EXCHANGE REAL ESTATE
(Without Valuations)
I
THIS AGREE AIFINT made and entered into this 2.0.tb _ - .;;ay of _._ __.__. J__uly -- _ 19_8 = , by and
Between_ The C -itv of Pueblo a Municipal C.Or'�OratIon vvho,e ttdlressi,
_
Pueblo t _ C'o lorado
referred to as ` First Party" and------_ A r - thl1 r Corona
-whose address is Ifarb_o_ City, r ,r1
herenlafter referred to as "Second Party,"
WITNESSETH,
I 'First Party agrees to convey to Second Party the following described real estate, situate in the_ —_
County of F),I(.'b I Q , State of Colorado, to wit: Lot 1, Mock 1., Bellev2 ew
Sub., 1st filing, consisting of 5.65 acres, mo.-ce or less, of
vacant land.
KNOWN AS _ _ legal as above
with all easements and rights of way applirtenant thereto, all improvements thereon and all °' "ixtutes of a permanent
nature, currently on the premises exrel,t - no ,'xCepti.onS
in their present condition, ordinary wear and tear excepted, and the following personal property:
none
by good and sufficient C(EI7*_'_I a.l warranty deed.(. e1 IVili OU�; ll. Said property will be conveyed subject
to the following encumbrances which the Second Party /iyi�6 (will not) assume and agree to pay:
none
If a note and trust deed or mortgage is to be assumed, the Second Party to apply for a loan assumption if
required and the Second Part agrec4 to pay M' a loan transfer fee not to exce ed a n/a and (2) an
interest rate not to exceed _ per annum. If the lender's consent to a loan assumptl €m is required this contra<•t is
expressly conditioned upon obtaining such consent without change in the terms and conditions of such loan as
above stated.
If a , c_ure.d or unsecured Loan is to be carried by the First Part:,', l"irst Party :,hall not be obligated to carry .sai3
loan for any person or entity in lieu of the Second Party named herein.
Cost of any appraisal for loan purposes to be obtained after this date slaa.11 be paid by
2. Second Party agrees to conv<�y to }First Pasty the following described real estate, situate in the __ -sa —_
_ �'
P _ Block, 5
1 BE'l lE'_V1. _iJ Sub. second , State of do, to-wit r
Countyof
, d fil - ing, consisting of 5.16 acres of ,
land, more or less.
xNCIwNs legal.- L tbovu
with all easements and i aghts of way i'plmrtenant i her(, o, all improvements t Lei-on an,i all fi -{turc . ref permanent
nature, current'' , >n the premjs, s,
except no e-xceptions
n their present condition, ordinary wear and tear excepted, a.nd t tie follo�cing pr_r anal prrepttrt. }:
none
w :.h_ieot
by good and ;:efficient n�'Y'.Z -1 warr;tnty deed (�at'i�l��t:�f,�;�a,� ,��ti�l pro �iil be �onvt�
to the foilowing encumbrances liiarh the Pirst Party,6Al (will not) assume anal agree to pay: none
U l tb441 P -Nif tAk - It/ 17All /11 *1 PP/ /A/s/ 11" WiU1V f t/c/
46444t / kktfi.fW/ bk/ bkhl2k/ kIbkb1,-k--1.-kk,+V k-kM t/r/aIM A /s/,/ /i/- /s/h/a/_l V Ayd
No. EX 31- I2 -77. Contract io E—h—ge Real Estate !Without % aluations) CON11,VlJE D ON PAGE 2.
y
7
P.-1 GL' 2 01 i.
If a note and trust deed or snort gtIge is to be as:.cunvd, the l` t I ':I r t� i rcc,': tu'�r , tl fot �,
k'. ' 1 1 a iii .Ci!'I P t r .f
rectuu•rd and the First Party Agrecc to pa" II) a loan tjau:.fer fee Oct to r $ n/ a
r,tere: t r.rtc not io exceed arttnlm. if th+ Ic•;nier', cOrsent to a Id. -an
f t Itct #,,.hr.c`ntt rct is
vl r es ly conditivnrd upon obtainirr!->;uch c;mraent �: it huctt chari in the term and conditions ni cur }? torn escept
above stated. '
If a secured or unsecured loan is to be carried by the :second
Parts, tia•con +l Party sh;rl] not }.r :•t- !igated to camr
I said loan for any person or entity in lieu of the First Party named herein.
Cost of any apprl6snl for bean pmrposes to be obtained after this date shall he paid by _ n/a
3. The difference lretweerr the lens of the n anecti�e pronertic ;ir/.
✓� f�' �cr'•`'vtwfti�+� �r lr�vt, . h: i ,�c Teemed for the purposes of tl ...cs ;a t emc-ot to bc x L 0 , Q 011 . d a
and s a1!l surn shall b,• due and payah ".e t,Y _second Fart`' _Part}
s � , t;, first
Cash or certi f . L cad funds upon delivery of deeds .
4. 'Title sh..all be merchantable in tlee respective prr t.ir hor =�t��. F;ach party agrees, at his optim! land expense, to
II
furnish to l.t,a ethcTr' p eat re :�t e�rnj,Yt,t�,��November colic �. It .�t'��!��I�Y'iA`.rt �l�irf,�(t.v� ;�,ifsl /f��l>[ ✓tt,
I y her patty elects to 'urnisrr said tine
i
insurance commitment, that party will deliver till iitlfY inset anus policy to the Other party after closing and pa_v til
prerniurn thereon. Except as stater: in paragraphs t and 2, if title is not rnerclr.rntable and written notice of defecti , is
given by either party to the Other party within ±.he time herein 1)rovitied for delivery of deed and s hl! 1 1 O t be rendered
merchantable within 60 days after such written notice, then this contract, at l:hc option of the part;- giving su(
e
notice, shall 'tae void and of no effect and each part, hereto shall be r e as d from all oblik- arsons hc- rounder; provided,
however, that in lieu of correcting such defocus), the party receiving such notice may, within said ti0 days, obtain a
commitment for w ner's title insurance policy in the amount of the purchase price reflod ting title insurance protec-
tion in regard to such defect(s), and the party giving such notice shall have the option of accepting the tlsen existing
insured title if lieu of such merchantable tittle. The party receiving such notices Khali pay the full premium for Suet:
owner's title insurance policy, and the abstract, if a ny, shall be returned by the other party.
5. General taxes for the yr ._t� i>fclasing sha!1 i,< aj�portionod to date „ f of*,Ieed : vn tale -.lot t recent
levy and tl;e nikl t -cent as�c s7nent. F'er�,onul pruoer'N ir,Xcs, prepaid. rents.
I
mortgage : nsuranct iniurn: ,Intl :rent o>r e d rsnces. if.tny, acrd no other
hall he apportioned ts, date of dehvery of dr'c - d with respect to each l�, >�oper t�. F; ,� ,, lrtrty ,ha - i, t ;t�,�c� credi' at clo;in
i
for any tenant security deposits. Loom l re tit he Iul,lusted ,ct the t imf' of cic,sing, rty sloe, M +ra_nce Ie
Lo be paid may be paid at the time of saett lenient frtrtn tio pro(-4 eds oft his transaction or h oft) any other mob—cc,
6. FaC li l agree, i,,? executt� arnl J +!i.der ill, dlee ; to t l „ of her Marty oll December 1 5,
1. >
or. by mutual agrrc Ott rlf, at nr a�nr!tcr ,late, r, � ir;g )ii.< l tiro .. t.' r!c ,; of :?ll
rml.rovetircnts nov, lust cl ?ed, ;cheth<r t . :i „r not uncles; spetifn :?1; h� r c ,,,,,tr encitte„!. , ��,i ;fie, . -;r'. t,a�,;.
for the year of closing wh+ch said other part} lls > and agret�s to p, - s ;lbject to the ,r t.ltstmc nt herein 1)1'"
for. The property of each party i snhjec1 to hl,ilding and zoning retrulation pertaining, tlrer"to scroll akulli he
subject to any tenancic 1 C re; nrrft <=r set Earth IItid shall l:e frcc and' -Icar of all hens and d�nc torhrances except tint,:.;
hereinahove descril and except:
`As to the property described in par.trrrapl, :one Rights of Way, Easements, Reservations
and Restrictions of Record.
"Ass to the property dec<cribed in paragraph tts„ nu except S. ons
7. "The hour and. place ofclosing,�hall he by Century 2 lst Colorado Acjenc tr
n. Possessir.ta of tht� l;rvnlisys Om!l hr d.. ;ca red to Mach lourclr,t4er cart= u�r ell" it� v,Ith th +
follows: del .L vc of deed
file property descr'ihed in I'aI :if=I h 0 i e ; k 11 i,c > uh,je -t. to t I, '! a ic�as,t or tt_ n ;rnrie>, J1onF'
and Lilco lu•o, on in sr
agrapl? tr.d� h;til hr snhj ;'d t td, till io ;l�. Ora =e� : +nai ten :u,citrs: iione
- 11 u.n -•h Lc .c.. s ,e r� ....w ,.ire �e curt , ......u.r• �I.t ,. .al al" � ; 1 t. __ ' I,
- ,pe rtp _.,bjeo.
T
_ f)t . i .
9. In the event that either of the prr,apvUws is damaged by fire or other casualty prior to time of closing in an
amount of not more than ten percent of the value of the property, the seller of said damaged prop - erty shall be
obligated to repair the same before the date herein provided for deli: c•ry of d" d. In the event suCa damage cannot be
repaired within said time_ or if such damage. shall exceed such Value, dais contract may be t•ancelled at the option oft he
other party. Should the other party elect to carry out. this agreement despite such damage, such other party shah be
entitled to all the credit for the insurance proceeds resulting from such datnage not exceeding, however, the total
value. Should any fixtures or services fail between Me date of this agreement and the date of possession, or the date of
delivery of deed, whichever shall be earlier, then the owner of such property shall be responsible for the repair or
replacement of such fixtures or services with a unit of similar size, age and quality, or an equivalent credit.
10. Both parties have examined the properties and accept the same in the present condition. Nei luor party is
relying on representation, of the other party or real estate broker or agent, as to zoning other than as specifically set
forth herein.
11. It is agreed that - _ __ _ no- _broker - _ _ __ - _ -_ _ is
acting as broker for the First Party and Century 21 lst Colorado Agency
- P-ue.h -o_c_. Co 81904 - - - - - -_ -_, is act mg an broker Na the S"Ynd Party. If the broker
! named for each party herein shall be same, then each of the parties agrees that said broker may act as broker for each
party and may receive s(roia commission_, front each party an may be ea nblishe.a by separate agreement.
i
12. First Party Icerev,ith deposits with broker for the Second Party $_ -- -n/a _._ l;y (dash)
(check) (note i and Second }'ar't. here�� ot,h deposits avit.h broker for the h'ir Party n/a by
li
(cash) (check) ( uNn as a gus.ranty of go<,d faith, to he returned to the respimt.ke parties when the transaction is
completed,
13. Time is of the essence hereof, and Aaany payment or other condition hereof knot made, tendered or perks meei
by either of the parties hereto as herein provided, then this contract, at the option of the party who is not in default
l � anny be terminated, In case of such termination, any deposit made by the defaulting party shall be retained i,y the
broker for the non -defauMng party, on behalf of said non - defaulting party, and the payments so r.at,ained shall be
divided between the said broker and the non - defaulUng party, one-half theveof to the broker, but not to exceed a sum
equal to the agreed commission, and the balance to the non-defaulting party. In the event of such termination, any
payments made by the non-defaulting party shall be returned to said party, and the nun - defaulting party mat°
recover such additional dam.-es as may be proper. In the event, however, file non - defaulting party elects to treat this
contract as being in full force and effect, the non - defaulting party shall have the right to an action, for specific
1 performance and damn
1 ge.
14. This contract, shall be binding upon and shall inure to the benunt (At he parties hereto, their heirs, successors,
and assigns.
15. Additional provisions:
a. This contract is contingent upon the prior closing of that cer-
tain contract on Belleview Sub. lst and 2nd between United
Bank of Pueblo and Arthur Corona dated April 28, 1989.
b. This contract is contingent upon it's approval and acceptance
by the City Council of Pueblo, Colorado,
C. Any improvements adjacent to B Lock 5, Delleview Sulu., 2nd
filing, within the Belleview Subdivision shall be the expense
of the Second Party, i.e., street, curb & gutter along Oakshire
Lane and drainage to the Mast of Block 5.
d. This contract is expressly contingent upon Second Party obtaining
the consent of the holder of a first deed of _rust. on Second
Party's property to a partial release of that property in exchange
for a :first lien on First. Party's pr_operty,at closing.
SEE REVERSE; SIDE FOR MORE ADDITIONAL PROVISIONS
10 In t1 re event this instrument is not signed by all parties hereto on or before Aug 1$
19__ � �i his agreement shalt hrcnuce void ;uu1 of -v, effect.
IN WITNESS YaVI ERMOF dw hn.ra hereto have scat t.hAr hands a nd Oils.
Date
Pueblo, -_a Municipal Corp- -
oration
� � t
B --
r of the City
Cox(nc i l
- ---- - - - -- --
_i
Attest:
(
( )
Century ?_ ;lst Colorado Ac3ency
i it���lerk X /
By: er V
mth,Wil ._ec3. R. agler
No. EX 31- 12 -77. Contract to Exchange Rcvl Estate (Without Valuations)
7
e. This contract is expressly contingent upon the rezoning of L?ellevi.e
Sub., lst and 2nd filing to R. -7 inclusive of Lot 1, Block 1,
Exclusive of Blocks 4, 5, 1.1 and 47.
f. This contract shallbecome null and void and each party released
from all obligations here under if the Contract is not closed for
any reason on or before December 15, 1989.
g. First Party's obligation to furnish a commitment for title insurance
under paragraph 4 shall not arise until 5 days after Second Party
shall notify First Party in writing that the cuntigencies set forth
in a, d, and e above have been met or waived by Second Party.
NO. 906626 RECORDED
pUESLO COUNTY, COLORADO
JAN 11 f9g
B oa ?4 79 PAu 464
KNOW ALL MEN BY THESE PRESENTS, That Arthur Corona
of the County of Pueblo , and State of Colorado,
for the consideration of Ten Thousand and no /100------------------ - - - - -- Dollars,
in hand paid, hereby sell and convey to The City of Pueblo, a Municipal Corporation
of the County of Pueblo , and State of Colorado,
the following real property, situate in the
and State of Colorado, to-wit-
Lots 1 to 3,
Block 5,
BELLVIEW SUBDIVISION, SECOND FILING
�'J
County of Pueblo
0- T0
JAN 1 1 1990
with all its appurtenances, and warrant the title to the same, subject to restrictions, r e s e r va t i o n
covenants and easements of record; also the 1989 taxes and subse
quent taxes and assessments.
Signed and delivered this 2 of Op , A.D. 19
in the presence of L� �' " _ (SEAL)
Arthur Corona
(SEAL)
(SEAL)
STATE OFC91iMx California
County of Pri x L0 A&a -(As ss'
The foregoing instrument was acknowledged before me this p� day of
19 ,by• Arthur Corona 1140
Witness a and official seal.
My comet es OFFICIAL SEAL
1 RUTH E HUGHES
)0-36 NOTARY PUBLIC - CALIFORNIA
y LOS ANGELES COUNTY j Notary Public.
i>b comm. expires OCT 30, 1992 fi
*If by natural person or persons here insert name or names. if by person acting in representative or official capacity or as attorney -in -fact,
then insert name of person as executor, attorneyin -fact or other capacity or description: if by officer of corporation, then insert name of such
officer or officers, as the,-president or other officers of such corporation, naming it.— STATUTORY ACKNOWLEDGEMENT, Session 1927.
WARRANTY DEED *-. ....,4683