Loading...
HomeMy WebLinkAbout7397RESOLUTION NO. 7397 A RESOLUTION APPROVING AN AGREEMENT AND WARRANTY DEED BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION AND PUEBLO DEVELOPMENT FOUNDATION RELATING TO THE TRANSFER OF LAND AT PUEBLO MEMORIAL AIRPORT AND THE REMODELING OF THE 51,500 SQUARE FOOT BUILDING LOCATED THEREON FOR LEASE AND TRANSFER TO LAN TECHNOLOGIES, INC., AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE THE AGREEMENT AND THE WARRANTY DEED, AND APPROPRIATING AND AUTHORIZING THE EXPENDITURE OF $960,000 THEREFOR FROM THE 1992 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECT FUND BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The City Council does hereby find and determine: (a) There now exists in the City of Pueblo and has existed for a number of years unemployment and underemployment in an abnormal amount injurious to the public health and welfare of the City and its inhabitants constituting an economic and social liability impairing and arresting the sound growth, economic development and stability of the City. (b) The prevention and elimination of unemployment and underemployment and the social and economic evils associated therewith are proper public purposes and matters of local and municipal concern which justify the expenditure of public funds. (c) The City is the owner by conveyance from the United States Government of land known as the Pueblo Memorial Airport and it would be in the best interests of the City and in the public interests if portions of the Airport land not required for aviation or airport use be transferred and be reused and developed for industrial purposes. (d) Pueblo Development Foundation will remodel the 51,500 square foot building located on 4.80 acres of land at Pueblo Memorial Airport for a manufacturing and distribution facility with office space and other improvements (herein "Project ") to be leased and occupied by Lan Technologies, Inc. (e) No similar project exists in the City and construction and equipping of the Project will require a large outlay of capital. (f) Lan Technologies, Inc. has committed to the City that it will employ one hundred (100) full -time employees at the Project within twenty -four (24) months after its substantial completion. (g) The property described in the Agreement and Warranty Deed between the City and Pueblo Development Foundation attached hereto is surplus to the City's needs. (h) The construction of the Project will stimulate and promote industrial activity at Pueblo Memorial Airport thereby creating employment opportunities for the citizens of the City, greater use of airport facilities, and increased aeronautical activities. (i) The execution and performance of the Agreement between the City and Pueblo Development Foundation are in the best interests of the City and its citizens and will promote the public health, safety, commerce, prosperity and general welfare of the City and its citizens. SECTION 2 The Agreement and Warranty Deed between the City of Pueblo, a Municipal Corporation and Pueblo Development Foundation, a Colorado nonprofit corporation dated June 13, 1994, copies of which are -2- attached hereto and incorporated herein as if set out herein in full, having been approved as to form by the City Attorney, are hereby approved. SECTION 3. The amount of $960,000 (in addition to the $940,000 authorized and approved by Resolution No. 7391 adopted May 23, 1994) is hereby authorized to be expended and made available out of the 1992 Sales and Use Tax Capital Improvement Project Fund for the Project and shall be released by the Director of Finance upon receipt of requests for payment as provided in paragraph 1(b) of the Agreement. cFrmrnnT d The City Council does further find and determine that the Project and funds to be made available therefor meet and comply with the criteria and standards adopted by Ordinance No. 5742 and the Project will create employment for new employees justifying the expenditure of such funds. 0V0MTnrl c The President of the City Council is hereby authorized to execute in the name of and on behalf of the City the Agreement and Warranty Deed and the City Clerk is directed to affix the seal of the City thereto and attest same. ATTEST: Cit Clerk INTRODUCED: June 13, 1994 JOHN CALIFANO Councilman APPROVED: es' ent of the ity Council TJ 71.34 -3- Y ' AGREEMENT THIS AGREEMENT entered into June 13, 1994 between Pueblo, a municipal corporation ( "City ") and Pueblo Development Foundation, a Colorado nonprofit corporation ( "PDF "), WITNESSETH: WHEREAS, City is the owner of certain land known as Pueblo Memorial Airport, Pueblo County, Colorado by conveyance from the United States Government, and WHEREAS, it would be in the best interests of the City and in the public interests if portions of such land not required for aviation or airport purposes be transferred, used and developed for industrial purposes thereby increasing the tax base, making available employment opportunities for the citizens of the City, and promoting the economic expansion of the City, and WHEREAS, City by Resolution No. 7391 approved an agreement for a job creating capital improvement project with Lan Technologies, Inc. ( "Company ") for the use and development of a portion of such land for manufacturing and distribution purposes ( "Company Agreement "), and WHEREAS, PDF and Company have entered into a Remodeling And Lease Agreement ( "Lease ") including an option to purchase 4.80 acres of the land located at the Pueblo Memorial Airport ( "Land ") and the remodeled 51,500 square foot building ( "Building ") located thereon for a purchase price of $700,000 ( "Purchase Price "), and WHEREAS, the Land is described in the warranty deed attached hereto ( "Warranty Deed ") and is surplus to the City's needs, and WHEREAS, the Lease provides that PDF will remodel the Building in accordance with approved plans and specifications ( "Plans ") at an estimated remodeling cost of$1.9 million ( "Remodeling Costs "), and WHEREAS, City pursuant to the Company Agreement has committed to advance $940,000 for the benefit of Company to be used by PDF for partial payment of the Remodeling Costs, and WHEREAS, the $960,000 additional sources of funds for the Remodeling Costs are anticipated to be: $200,000 from the State of Colorado, and $760,000 to be borrowed by PDF ( "Additional Funds "). NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained herein, City and PDF agree as follows: 1. Pending receipt of the Additional Funds by PDF, City will advance to PDF an amount not to exceed $1.9 million for the Remodeling Costs which includes the $940,000 committed by City under the Company Agreement and the Additional Funds, subject to and contingent upon: (a) All construction contracts involving the expenditure of the Remodeling Costs shall be awarded by PDF after competitive bidding which allows qualified local contractors reasonable opportunity to participate in the competitive bidding. (b) PDF submitting to the Director of Finance written requests for payment certified by an officer of PDF that the amounts included in the request for payment have not been included in a prior request for payment and are for payment of Remodeling Costs, identifying the remodeling for which payment is sought, including certificates by the architect and contractor that the remodeling work has been performed and installed in accordance with the Plans. 2. PDF shall repay the Additional Funds advanced by the City on or before December 30, 1994, provided, that PDF will pay to and deliver to City the $200,000 anticipated to be received from the State of Colorado immediately upon receipt thereof by PDF; and, further, provided, that if PDF does not receive the anticipated $200,000 from the State of Colorado, PDF's obligation to repay the Additional Funds will be reduced by $200,000. PDF's obligation to repay the Additional Funds shall be evidenced by its promissory note in the principal amount of $960,000 payable to City without interest ( "Promissory Note ") and secured by a first deed of trust on the property described in the Warranty Deed ( "Deed of Trust "). City will execute and deliver the Warranty Deed to PDF contemporaneously with execution and delivery of the Promissory Note and Deed of Trust by PDF to City. 3. PDF shall pay and deliver to City the Purchase Price immediately upon receipt thereof by PDF from Company. 4. If the Lease is terminated or cancelled by PDF for any reason pursuant to Section 11 of the Lease, PDF shall not thereafter sell, assign, transfer, lease, mortgage or encumber the property described in the Warranty Deed or any improvements located thereon without the prior written consent of the City, which consent may be arbitrarily withheld. 5. If the Lease is terminated by Company pursuant to Section 10 of the Lease, all proceeds of insurance less the balance of PDF's $760,000 loan plus accrued interest thereon shall be paid and delivered by PDF to City immediately upon receipt thereof by PDF. 6. Time is of the essence hereof. In the event of any litigation arising out of this Agreement, the court shall award to the prevailing parry its costs including reasonable attorney fees. 7. PDF shall diligently enforce Company's performance of Company's obligations under the Lease and shall advise City in writing of any default in performance by Company. If PDF does not diligently enforce Company's performance of its obligations under the Lease, City, at its sole option and without any obligation to do so, may undertake such enforcement, and, for such purpose, PDF appoints City its attorney in fact with full power and authority to enforce in the name of PDF Company's obligations under the Lease including instituting any legal proceedings therefor. -2- a { 8. This Agreement expresses the entire understanding of the parties and supersedes any and all prior dealings and commitments with respect to the subject matter of this Agreement and may not be amended except in writing signed by City and PDF. 9. This Agreement shall be construed in accordance with and be governed by the laws of the State of Colorado. 10. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns, provided PDF may not assign this Agreement or any interest herein without the prior written consent of City. Executed at Pueblo, Colorado the day and year first above written. PUEBLO, A MUNICIPAL CORPORATION B -..,Y z — ef th e City Council [SEAL] ATTEST: City Clerk PUEBLO DEVELOPMENT FOUNDATION 'reside t [SEAL] ATTEST: Secretary -3- City of Pueblo OFFICE OF THE CITY ATTORNEY 127 Thatcher Building PUEBLO, COLORADO 81003 June 10, 1994 Ms. Marian D. Mead City Clerk 1 City Hall Place Pueblo, Colorado 81003 Re: Lan Technologies, Inc. Dear Marian: Enclosed please find the original documents regarding the above: a) Agreement dated June 13, 1994 between the City and PDF b) Warranty Deed between the City and PDF c) Deed of Trust dated June 13, 1994 4) Promissory Note dated June 13, 1994 The Warranty Deed and Deed of Trust have both been signed by the PDF officials and after execution by the City officials please record these documents, the Warranty Deed first and then the Deed of Trust. If you have any questions, please contact me. Very truly yours, omas E. J sm enc. M N g City of Pueblo February 13, 1995 OFFICE OF THE CITY ATTORNEY 127 Thatcher Building PUEBLO, COLORADO 81003 Ms. Marian Mead City Clerk 1 City Hall Place Pueblo, CO 81003 Re: Lan Technologies, Inc. Dear Marian: On June 10, 1994 we forwarded to you four original documents regarding the above (a copy of our letter is enclosed). Please return to my office the original Deed of Trust dated June 13, 1994 and the original Promissory Note dated June 13, 1994. Thanks for your attention to this matter Very truly yours, w —� T omas E. Jagger sm enc. City of Pueblo OFFICE OF THE CITY ATTORNEY 127 Thatcher Building PUEBLO, COLORADO 81003 June 10, 1994 Ms. Marian D. Mead City Clerk 1 City 1 -Tall Place Pueblo, Colorado 81003 Re: Lan Technologies, Inc. Dear Marian: Lnclosed please find the original documents regarding the above: a) Agreement dated June 13, 1994 between the City and PDF b) Warranty Deed between the City and PDF c) Deed of" Trust dated June 13, 1994 4) Promissory Note dated. June 13, 1994 The Warranty Deed and Deed of Trust have both been signed by the PDF officials and after execution by the City officials please record these documents, the Warranty Deed first and then the Deed of Trust. If you have any questions, please contact me. Very truly yourS, Thomas E. Jagger Sill enc. MEMORANDUM TO: City Attorney Tcui Jagger FROM: Marian Mead `' SUBJECT: LAN TECHNOWGIES, INC. DATE: February 14, 1995 As you requested in your letter of February 13, 1995, I am returning to your office the original Deed of Trust dated June 13, 1994, and the original Promissory Note dated June 13, 1994. Encls. PROMISSORY NOTE $960,000.00 June 13, 1994 FOR VALUE RECEIVED, the undersigned, Pueblo Development Foundation, a Colorado Nonprofit Corporation (the "maker "), promises to pay to the order of Pueblo, a Municipal Corporation (the "payee "), at payee's office in Pueblo, Colorado, or at the place of business of any subsequent holder hereof, or at such other place as the holder may designate in writing, the principal sum of $960,000.00 without interest. The principal amount payable under this Promissory Note shall be adjusted and modified in accordance with the provisions of paragraph 2 of the Agreement between maker and payee dated June 13, 1994. This note is payable in full upon demand but in no event later than December 30, 1994. Upon failure to make payment of principal as herein provided, or upon default in the performance of any provisions of the deed of trust securing this note, the entire principal sum shall, at the election of the holder hereof, at once become due and payable without notice, and shall thereafter bear interest at the rate of ten percent (10 %) per annum until fully paid. Failure of the holder to exercise this election shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. This note and all principal and interest payable hereunder are secured by a deed of trust of even date herewith upon real estate situated in the County of Pueblo, State of Colorado. In the event it becomes necessary to place this note in the hands of an attorney for collection or to foreclose the deed of trust securing this note by proceedings in court or with the Public Trustee, the maker hereof agrees to pay attorney's fees in a reasonable amount. The maker and all endorsers hereof severally waive presentment, protest, and demand, notice of protest, demand and of dishonor and nonpayment of this note, and expressly agree that this note or any payment hereunder may be extended from time to time by the holder hereof without in any way affecting the liability of the makers and endorsers hereof. Executed at Pueblo, Colorado the day and year first above written. [ S E A L ] PUEBLO DEVELOPMENT FOUNDATION Z4 Attest B Secretary re adent ' TJ 71.35 Book: 2740 Page: 443 Chris C. Munoz Page: 3 of 3 Pueblo Co.C1k.&Rec. A parcel of land located within the County of Pueblo, State: of Colorado to -wit: A parcel of land described in that document filed for record November 20, 1989 in Book 2468 at Page 379 which reads as follows. . A parcel of land located in the N112 of the SE1 14 of Section 26, Township 20 South, Range 64 West of the 6th Principal Meridian, said parcel being more particularly described as follows: Deginniiig at .a point from which the Northeast corner of said Section 26 bears N 18 -01 -14 E (bearings based on the North line of said Section 26 to bear N 89 -10 -48 W), a distanco of 2,024.05 feet; thence S 01 -57 -57 E, a distance of 513.64 feet; thence S 88 -02 -3 W, a distance of 419.03 feet; thence N 01 -57 -57 W, a distance of 513.64 twot; theJnca N 88 -02 -03 E, a distance of 419.03 feat to Cho Point of Beginning. Except and Less the Northerly fifteen (15) feet of said parcel Said parcel contains 4.80 acres, more or less. _._ EXHIBIT "A" ._... r� Reception #: 1048197 Date: 06/20/1994 Time: 120 Book: 2740 Page: 436 Chris C. Munoz Inst.: WD Rec, Fee: 25.00 Doc Fee: 0.00 Page: 1 of 5 Pueblo Co.Clk.&Rec. c?j;y J t k dZ W i 1 a Jtict w, 994 by and between Pueblo, a rndation, a Colorado nonprofit and other good and valuable °reof is hereby confessed and _ : presents does grant, bargain, forever, all the real property situate, lying and berm ;blo, State of Colorado, more particularly described i ed herein (herein "Property), with all its appurtenance: C r t restrictions and reservations of record and to the fi ions which are and shall be construed to be covenam ' binding upon the Company, l its successors and assigr iccessors and assigns. 1. City reserves unto itself and its successors and assigns, for use and benefit of the public, a right of flight for the passage of aircraft in the airspace above the surface of the Property, to�cuether with the right to cause in the airspace above the surface of the Property such noise as may be inherent in the operation of any aircraft now known or hereafter used for navigation of or flight in said airspace, and for use of the airspace above the surface of the Property for landing on, taking off from, or operation on or over the Pueblo Memorial Airport. 2. Company expressly agrees for itself, its successors and assigns to restrict the height of structures, objects of natural growth and other obstructions on the Property, to a height of not Reception #: 1070195 Date: 02/02/1995 Time: 1144 Book: 2783 Page: 422 Chris C. Munoz Inst.: WD Rec Fee: 30.00 Doc Fee: 0.00 Page: 1 of 6 Pueblo Co.Clk. &Rec. Book: 2740 Page: 437 Chris C. Munoz Page: 2 of 5 Pueblo Co.C1k.&Rec. more than 4,710 feet above the mean sea level. 3. Company expressly agrees for itself, its successors and assigns, that it will prevent any use of the Property which would interfere with landing or taking off of aircraft at the Pueblo Memorial Airport, or otherwise constitute an airport hazard. In the event this covenant is breached. City reserves the right to enter upon the Property at the expense of the Company to remove the offending structure or object and to cut the offending growth. 4. The Property and its use are further subject to the following Restrictive Covenants: (a) The Property may be used only for industrial and manufacturing facilities and incidental office and warehouse uses. The Property shall not be used for smelting or plating operations, or for the storage or processing of putrescible materials, or for any purpose or business which constitutes a nuisance, or which exceeds the state air pollution control standards for the facility. Gasoline or diesel fuel used in connection with the business conducted on the Property but not for sale at retail or wholesale may be stored on the Property in an environmentally sound manner. (b) Outdoor storage shall not be permitted except for storage of equipment used in the facility. Parking areas for vehicles and roads on the Property shall be paved. (c) The Property shall not be subdivided and no building or structure over sixty (60) feet in height shall be installed or constructed on the Property. (d) No structure or building shall be constructed or installed nearer than thirty - five (35) feet of the right -of -way line of Eaton Place or sixty -five (65) feet of the right of way line of William White Boulevard or twenty -five (25) feet of side or rear of other streets. There must be installed and maintained a minimum twenty -five (25) foot strip of living landscaped ground along the front of the Property adjacent to Eaton Place, thirty -five (35) foot adjacent to William White Boulevard and twenty -five (25) feet adjacent to other abutting streets. Minimum side yards set- backs shall be twenty -five (25) feet. (e) Company shall keep and maintain the Property and all buildings, landscaping and improvements located thereon in a good, clean, safe and orderly condition free of waste. rubbish. debris and trash, and enclose and screen from public view all outside storage and unsightly areas of the Property. (f) - Company shall comply with notifications and review requirements of the Federal Aviation Administration prior to the construction, modification or alteration of any building or structure on the Property. -2- Book: 2783 Page: 423 Chris C. Munoz Page: 2 of 6 Pueblo Co.C1k.&Rec. Book: 2740 Page: 438 Chris C. Munoz Page: 3 of 5 Pueblo Co.C1k.&Rec. or structure on the Property (g) Company shall, at its own expense, cause all utilities and roads used or to be used on the Property to be extended from adjacent streets, installed on the Property, and kept and maintained in good order and condition. (h) Company shall pay to City a combined service fee for services and facilities now furnished by City at the Pueblo Memorial Airport, namely: public street maintenance, fire protection, and street lighting based upon $295.00 per acre per annum payable monthly for each acre of land conveyed to Company hereunder. City may, from time to time, reduce or eliminate any or all of the services or facilities presently being furnished and may modify, increase, or decrease the annual combined service fee provided (i) such services and fee shall be non - discriminatory among other tenants and owners of land at Pueblo Memorial Airport receiving such services and facilities, and (ii) such fee shall be reasonable in relation to City's actual cost and expense of furnishing the services and facilities then being furnished. City's cost may include the cost of capital improvements amortized over the useful life of the improvements. Domestic waste water discharged from the Property is transported to and treated at City's waste water treatment facilities, Company and the waste water so transported and treated are subject to the same restrictions, limitations, conditions, fees, and charges as other users of City's sanitary sewer system and facilities. Company shall only discharge domestic waste water into the City's sanitary sewer system. (i) Company shall provide for storm water drainage which shall include the construction and installation of storm water detention facilities on the Property. The detention facility shall be capable of storing the developed on -site runoff from a 100 -year frequency storm. The maximum release rate from the detention facility at the ponding depth corresponding to the 10- year volume shall be .30 cfs /acre and 1.00 cfs /acre for the 100 -year ponding depth. All calculations and details shall conform with the City of Pueblo Storm Drainage Criteria Manual. The point of discharge from the detention facility shall be at a location approved by the Director of Public Works. (j) Before commencing the construction, installation or alteration of any building, structure, parking facility, outdoor sign, or other permanent improvement, or landscaping on the Property, the Company shall submit to and have approved by the City in writing the site plans and plans and specifications therefor. City's approval will not be unreasonably withheld. In the event the City or its designated representatives shall fail to approve or disapprove such plans and specifications within twenty -five (25) working days after they have been submitted to the City, such approval will not be required and this covenant will be deemed to have been complied with. All buildings constructed on the Property will be architecturally and aesthetically compatible with buildings constructed at the Pueblo Memorial Airport industrial park since 1985. Company shall use its best efforts to assure that all buildings, improvements and activities on the Property shall be constructed and conducted in compliance with all applicable federal, state and local law, regulations, and codes. -3- Book: 2783 Page: 424 Chris C. Munoz Page: 3 of 6 Pueblo Co.C1k.&Rec. Book: 2740 Page: 439 Chris C. Munoz Page: 4 of 5 Pueblo Co.C1k.&Rec. (k) City reserves the right to waive all or any part of these Restrictive Covenants. 5. At the request of City, Company shall meet and in good faith confer with City concerning the annexation of the Property to the City when the Pueblo Memorial Airport, or any part thereof, including without limitation, the Property becomes eligible for annexation. 6. Invalidation of any one of the foregoing covenants, conditions, restrictions or reservations by judgment or court order or otherwise shall not affect any of the other of said covenants, reservations, restrictions or conditions which shall remain in full force and effect. 7. City shall have the right to enforce the restrictions, covenants and conditions hereof by injunction or other lawful procedure and to recover damages, costs, expenses, including PUEBLO, A MUNICIPAL CORPORATION By re ' ent of the Ci y Council STATE OF COLORADO ) ss. The foregoing instrument was acknowledged before me this day of I 9W by ;' _ ` a J a � -/U� as President and (� �j �LL�� '', /j p�„o o—, as Secretary of Pueblo deve opment Foundation, a Colorado nonprofit corporation. Witness my hand and official seal. -4- Book: 2783 Page: 425 Chris C. Munoz Page: 4 of 6 Pueblo Co.Clk. &Rec. attorney fees, resulting from any violation thereof or arising out of their enforcement. K c l 0 �,t'�� [ E j{ � '` '` PUEBLO DEVELOPMENT FOUNDATION .. l; , y �f,�'• � ' Preside PUEBLO, A MUNICIPAL CORPORATION By re ' ent of the Ci y Council STATE OF COLORADO ) ss. The foregoing instrument was acknowledged before me this day of I 9W by ;' _ ` a J a � -/U� as President and (� �j �LL�� '', /j p�„o o—, as Secretary of Pueblo deve opment Foundation, a Colorado nonprofit corporation. Witness my hand and official seal. -4- Book: 2783 Page: 425 Chris C. Munoz Page: 4 of 6 Pueblo Co.Clk. &Rec. or»misaion expires: Or a .1 CO PUEBLO ) ss. STATE OF COLORADO ) Book: 2740 Page: 440 Chris C. Munoz Page: 5 of 5 Pueblo Co.Clk. &Rec. CSC �1 Notary Public Th oregoin . nsk99,ent was acknowledged before me this /P— day of by, ^ e( as President of the City Council of Pu Colorado and as City Clerk of the City of Pueblo, Colorado. Witness my hand and official seal. My commission / &/gj! � nrM A C,, 01 N to P i ". PV 8 I.�G •o . �t #..� f o� - &II Book: 2783 Page: 426 Chris C, Munoz Page: 5 of 6 Pueblo Co.Clk, &Rec. A parcel of land located within the County of Pueblo, State of Colorado to -wit: A parcel of 1,ind described in that document filed for record Novt --mber 20, 19b9 in Book 2468 at Page 379 which reads as follows. A parcel of land located in the N1 12 of the SE1 14 of Section 26, Township 20 South, Range 64 West of the 6th Principal Meridian, said parcel being more particularly described as I of 1. ows beginr;iiq at a point from which the Northeast corner of said Section 26 buar:� N 18 -01 -14 E (bearings based on the North lino of z;;ai.d Section 26 to bear N 89 -10 -4b W), a distance of 2, 82.9 .05 feet; thence S 01 -57 -57 E, a distance of 513.64 feet; thence S 88 -02 -3 W, a distance of 419.03 feet; thence N 01 -57 -57 W, a distance of 513.64 fuut; thuncu N 88 - 02 - 03 E, a distance of 419.03 fuut to the Point of beginning. Except and Les the Northerly fifteen (15) feet of said parcel Said parcel contains 4.80 acres, more or less. EXHIBIT "A" Book: 2783 Page: 427 Chris C. Munoz Page: 6 of 6 Pueblo Co.C1k.&Rec. Reception #: 1048197 Date: 06/20/1994 Time: 120 Book: 2740 Page: 436 Chris C. Munoz Inst.: WD Rec Fee: 25.00 Doc Fee: 0.00 Page: 1 of 5 Pueblo Co.C1k.&Rec. WARRANTY DEED 7 ff -T THIS DEED, made this / day of tJ11 , 1994 by and between Pueblo, a Municipal Corporation (herein "City ") and Pueblo Development Foundation, a Colorado nonprofit corporation (herein "Company "), WITNESSETH: That City for and in consideration of the sum of $10.00 and other good and valuable consideration to City in hand paid by the Company, the receipt whereof is hereby confessed and acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm unto the Company, its successors and assigns forever, all the real property situate, lying and being at Pueblo Memorial Airport, County of Pueblo, State of Colorado, more particularly described in Exhibit "A" attached hereto and incorporated herein (herein "Property), with all its appurtenances, and warrant the title to the same, subject to restrictions and reservations of record and to the following covenants, conditions, and restrictions which are and shall be construed to be covenants running with the land described herein and binding upon the Company, its successors and assigns and inuring to the benefit of the City, its successors and assigns. City reserves unto itself and its successors and assigns, for use and benefit of the public, a right of flight for the passage of aircraft in the airspace above the surface of the Property, together with the right to cause in the airspace above the surface of the Property such noise as may be inherent in the operation of any aircraft now known or hereafter used for navigation of or flight in said airspace, and for use of the airspace above the surface of the Property for landing on, taking off from, or operation on or over the Pueblo Memorial Airport. 2. Company expressly agrees for itself, its successors and assigns to restrict the height of structures, objects of natural growth and other obstructions on the Property, to a height of not Book: 2740 Page: 437 Chris C. Munoz Page: 2 of 5 Pueblo Co.Clk.&Rec. more than 4,710 feet above the mean sea level. 3. Company expressly agrees for itself, its successors and assigns, that it will prevent any use of the Property which would interfere with landing or taking off of aircraft at the Pueblo Memorial Airport, or otherwise constitute an airport hazard. In the event this covenant is breached, City reserves the right to enter upon the Property at the expense of the Company to remove the offending structure or object and to cut the offending growth. 4. The Property and its use are further subject to the following Restrictive Covenants: (a) The Property may be used only for industrial and manufacturing facilities and incidental office and warehouse uses. The Property shall not be used for smelting or plating operations, or for the storage or processing of putrescible materials, or for any purpose or business which constitutes a nuisance, or which exceeds the state air pollution control standards for the facility. Gasoline or diesel fuel used in connection with the business conducted on the Property but not for sale at retail or wholesale may be stored on the Property in an environmentally sound manner. (b) Outdoor storage shall not be permitted except for storage of equipment used in the facility. Parking areas for vehicles and roads on the Property shall be paved. (c) The Property shall not be subdivided and no building or structure over sixty (60) feet in height shall be installed or constructed on the Property. (d) No structure or building shall be constructed or installed nearer than thirty - five (35) feet of the right -of -way line of Eaton Place or sixty -five (65) feet of the right of way line of William White Boulevard or twenty -five (25) feet of side or rear of other streets. There must be installed and maintained a minimum twenty -five (25) foot strip of living landscaped ground along the front of the Property adjacent to Eaton Place, thirty -five (35) foot adjacent to William White Boulevard and twenty -five (25) feet adjacent to other abutting streets. Minimum side yards set- backs shall be twenty -five (25) feet. (e) Company shall keep and maintain the Property and all buildings, landscaping and improvements located thereon in a good, clean, safe and orderly condition free of waste, rubbish, debris and trash, and enclose and screen from public view all outside storage and unsightly areas of the Property. (f) Company shall comply with notifications and review requirements of the Federal Aviation Administration prior to the construction, modification or alteration of any building or structure on the Property. -2- Book: 2740 Page: 438 Chris C. Munoz Page: 3 of 5 Pueblo Co.Clk. &Rec. or structure on the Property. (g) Company shall, at its own expense, cause all utilities and roads used or to be used on the Property to be extended from adjacent streets, installed on the Property, and kept and maintained in good order and condition. (h) Company shall pay to City a combined service fee for services and facilities now furnished by City at the Pueblo Memorial Airport, namely: public street maintenance, fire protection, and street lighting based upon $295.00 per acre per annum payable monthly for each acre of land conveyed to Company hereunder. City may, from time to time, reduce or eliminate any or all of the services or facilities presently being furnished and may modify, increase, or decrease the annual combined service fee provided (i) such services and fee shall be non- discriminatory among other tenants and owners of land at Pueblo Memorial Airport receiving such services and facilities, and (ii) such fee shall be reasonable in relation to City's actual cost and expense of furnishing the services and facilities then being furnished. City's cost may include the cost of capital improvements amortized over the useful life of the improvements. Domestic waste water discharged from the Property is transported to and treated at City's waste water treatment facilities, Company and the waste water so transported and treated are subject to the same restrictions, limitations, conditions, fees, and charges as other users of City's sanitary sewer system and facilities. Company shall only discharge domestic waste water into the City's sanitary sewer system. (i) Company shall provide for storm water drainage which shall include the construction and installation of storm water detention facilities on the Property. The detention facility shall be capable of storing the developed on -site runoff from a 100 -year frequency storm. The maximum release rate from the detention facility at the ponding depth corresponding to the 10- year volume shall be .30 cfs /acre and 1.00 cfs /acre for the 100 -year ponding depth. All calculations and details shall conform with the City of Pueblo Storm Drainage Criteria Manual. The point of discharge from the detention facility shall be at a location approved by the Director of Public Works. 0) Before commencing the construction, installation or alteration of any building, structure, parking facility, outdoor sign, or other permanent improvement, or landscaping on the Property, the Company shall submit to and have approved by the City in writing the site plans and plans and specifications therefor. City's approval will not be unreasonably withheld. In the event the City or its designated representatives shall fail to approve or disapprove such plans and specifications within twenty -five (25) working days after they have been submitted to the City, such approval will not be required and this covenant will be deemed to have been complied with. All buildings constructed on the Property will be architecturally and aesthetically compatible with buildings constructed at the Pueblo Memorial Airport industrial park since 1985. Company shall use its best efforts to assure that all buildings, improvements and activities on the Property shall be constructed and conducted in compliance with all applicable federal, state and local law, regulations, and codes. -3- Book: 2740 Page: 439 Chris C. Munoz Page: 4 of 5 Pueblo Co.C1k.&Rec. (k) City reserves the right to waive all or any part of these Restrictive Covenants. 5. At the request of City, Company shall meet and in good faith confer with City concerning the annexation of the Property to the City when the Pueblo Memorial Airport, or any part thereof, including without limitation, the Property becomes eligible for annexation. 6. Invalidation of any one of the foregoing covenants, conditions, restrictions or reservations by judgment or court order or otherwise shall not affect any of the other of said covenants, reservations, restrictions or conditions which shall remain in full force and effect. 7. City shall have the right to enforce the restrictions, covenants and conditions hereof by injunction or other lawful procedure and to recover damages, costs, expenses, including -- .. , reasonable attorney fees, resulting from any violation thereof or arising out of their enforcement. 0 . �[S E A-14 PUEBLO DEVELOPMENT FOUNDATION oTTS J4 . �Presid t �— PUEBLO, A MUNICIPAL CORPORATION o4 STATE OF COLORADO The foregoing instrument was acknowledged before me this � day of zJ , 19_# by n . x a j,24c,R,, as President and ', A" – as Secretary of Pueblo Bevetopment Foundation, a Colorado nonprofit corporation. ss. By re ' ent of the Ci y Council Witness my hand and official seal. 0 Book: 2740 Page: 440 Chris C. Munoz /�-- Page: 5 of 5 Pueblo Co.Clk. &Rec. II-Jy, commission expires: ' 5 `" t 4 Notary Public CO W.PUEBLO ) ss. STATE OF COLORADO ) Th oregoina 'ns ent was acknowledged before me this day of by. as President of the City Council of Pu Colorado and as City Clerk of the City of Pueblo, Colorado. Witness my hand and official seal. My commission expires: �'M A C l ! P• A L� r � �: N pf ^fi N to P i PV 6 L AG ; ' o . f -5- Reception #: 1048198 Date: 06/20/1994 Time: Inst.: TD Rec Fee: 15.00 Doc Fee: DEED OF TRUST Z 122 Book: 2740 Page: 441 Chris C. Munoz 0.00 Page: 1 of 3 Pueblo Co.Clk. &Rec. nn� :Nrlr :N rultf;, slide ltis 13th day oi June . i094 , hewer.. Pueblo Development Foundation, a Colorado Nonprofit Corporation i whose address is P.O. Box 1663, Pueblo, CO 81002 'i hereinafter referred to as grantor. and the F ublic Trustee of the *County of Pueblo Slade of Colorado, hereinafter referred to as public Trustee. INI'lNESSE - 111. TII wIlf:RFM;.Pueblo Development Foundation !.at c-xc( 6f, d r rmnis- my note or notes• horvinal'ter referred to in the singul dated June 13 1994 fc,r the 0.1ineip: i sun; o rNine Hurd ,d orde g t housand and no/ 100 Dnua payable to d,(: order of 10,Ot .60T xxx�x� Pueblo, a Municipal Corporation City Hall Place, Pueblo, CO 81003 after the date hereof. with interest thcrcon fiorn the dale filer.:,)! at tile r ate of — 0 — percent pea annum, payable in full upon demand but in no event later than December 30, 1994 �i I AND W! If;RVAS, The grantor is desirous Of securing payment of the principal and interest of said promissory note in whose hands soever the said � I note nr any of their, NOW. 'riil REFORfi. The grantor, in consideration of the premises and for file purpose aforesaid, does hereby grant bargain, sell and convey l i unto the said Pt,blic Trus;ec in trust forever, the R,llowin described ro,erty. situate in the g P I County of l Pueblo state of Colorado, to wit: `,. t, ...... .The-'property described in Exhibit "A" attached i! hereto and incorporated herein ij li j also known by street and number as located at the intersection of Eaton Place and li William White Boulevard, Pueblo Memorial Airport, Pueblo, CO TO IIAVE AND TO I IOLD the same, together with all and singular the privileges:md appurtenances thercunio belonging: in Trust nevertheless, that t in case of default in the payment of said note or any of !hem, or any part thereof, or in the payment of the interest thereon, according to the tenor and effect of said note or any of fhcm. or in the payment of any prior encumbrances, principal or interest, if any, or in case default shall he made in or in case of violation or breach of any of the terms, conditions. convenants or acrecmenis herein contained, the beneficiary hereunder or the legal holder of the indebtedness secured hereby may declare a violation of any of the covenants herein contained and elect to advertise said property for sale and demand such sale, then, upon filing notice of such election and demand for sale with the public Trustee, who shall upon receipt of such notice ofelection and demand for sale cause it copy of the same to be recorded in the recorder's of (ice of the county in which said real estate is situated, it shall and may be lawful for the public Trustee to sell and dispose of the same ten masse or in separate parcels, as the said Public Trustee may think best), and all (lie right, title and interest of the grantor, his heirs or assigns therein. ;t public auction at the South front dour of the Court Ilousc, in the County of Pueblo II Slate of Colorado, or on said premises, or any part thereof as may he specified in the notice of said sale, for the highcsf and best price the same will bring in cash. four weeks public notice having been previously given of the time and place of such sale, by advertisement, weekly, in some ii newspaper of general circulation at that time published in said County of Pueblo a copy of which notice shall he mailed within fen days from the date of the first publication thereof to the grantor of the address herein given and to such person or persons appearing to have acquired a subsequent record interest in said real estate al the addn2ss given in file recorded instrument where only the crvm:v ;rt -! !; ;giver as t};c .!±dress then such police shall Lc mailed to [he county scat. and to make and give to Coe purchaser or purchase. of such property at such sale, a certificate or certificates in writing ticscithing such property purchased, and the sum or sums paid therefor. and the time when file purchaser or purchasers (or other i' person entitled thereto) shall be entitled to a decd or deeds therefor• unless the same shall be redeemed as is provided by law and said Public Trustee shall, Upon demand by the person or persons holding the said certificate or certificates of purchase, when said demand is made, or upon demand by the person entille.l h, a deco! to and for the property purchased, at the time such demand is made, the time for redemption having expired, make and execute to such person or persons a decd or deeds to the said property purchased, which said (Iced or deeds shall be in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered by the said Public Truaee and sh:dl convey and quitclaim b) such person or peons entitled to such decd, the said property purchased as aforesaid and all the right, title, interest. benefit and equity of redemption of the grantor. his heirs and assigns therein, and shall recite the sum or stuns for a hich the said properl was sold and shall refer fo the power of sale therein contained, and to the safe or sales made by viritte lherc and in case of :ut ;nsi)auncnl of stwh ccrtitic,,ilc or certificates of purchase, or in case of the redemption of such propert by a subsequent encumbrancer, such assi:•nn1(•n1 or redemption shall also he referred to in such deed or deeds: bill the notice of sale need not he set out stn such decd or deeds and the fuhlic Trnstc:� shat. out of flit: pro. ec,k or avail* of such sale. after first paying and retaining all fees, charges and costs of making said sale. pay to the beneficiary hereunder of the legal holder of said note the principal and interest due on said note according to the tenor and effect thereof, and all moneys advanced by such heneficiary or legal holder - %aid note for insurance, faxes and assessments, with interest thereon at 12 per cent per annum, rendering the ovcrplus, if any, unto the grantor, his legal representatives or assigns: which sale or sales and said deed or deeds so made shall be a perpetual bar. both in law and equity, against the grantor, his heirs and assigns, and all other persons claiming the said property, orally part thereof, by from, through or under the grantor, or any of them. The holder or holders of said note or notes may purchase said property or any part thereof and it shall not he obligatory upon the purchaser or purchasers at any such sale to sec to the application of the purchase money. If a release (Iced be required, it is agreed that the grantor, his heirs or assigns, will pay the expense thereof. *If in Denver, insert "City and." No. 341A. Rev. 2 - 9.1, my o o f - - ill , f IPuhlic 'IYusteel 11 tb One on Sale l.lausc 9 96 rradrurd P ibh%hing. 5925 W. 5th Ave.. L,kewood, CO 90214 — (303) 233 - 6'.x10 Wicntccorded, return tn Thomas E. Ja gg er_ L _ 127 T hatcher_Bldg., Pueblo, CO 81003