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HomeMy WebLinkAbout7683RESOLUTION NO. 7683 A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION AND DANA CORPORATION RELATING TO PROPERTY AT PUEBLO MUNICIPAL AIRPORT AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE THE AGREEMENT AND QUIT CLAIM DEED ATTACHED THERETO BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The Agreement dated July 24, 1995 between the City of Pueblo, a Municipal Corporation and Dana Corporation relating to property at Pueblo Memorial Airport and Quit Claim Deed attached thereto, copies of which are attached hereto, having been approved as to form by the City Attorney, are hereby approved. The President of the City Council is authorized to execute and deliver the Agreement and Quit Claim Deed in the name of the City and the Acting City Clerk is directed to affix the seal of the City thereto and attest same. ATTEST: City Clerk ting) INTRODUCED: July 24, 1995 By Sam uP1 C_ors n i no Councilperson APPRO D: 0 President of the City Council AGREEMENT This Agreement is made effective as of July RY , 1995 by and between THE CITY OF PUEBLO, a municipal corporation existing under the laws of the State of Colorado ( "City ") and DANA CORPORATION, a corporation organized and existing under the laws of the State of Virginia ( "Dana "). RECITALS: A. Dana is the owner of the real property legally described on Exhibit A attached hereto and made a part hereof ( "Dana Property "). B. Dana acquired the Dana Property and additional property from the City pursuant to a Special Warranty Deed dated September 9, 1970 ( "1970 Deed ") recorded on September 25, 1970 at Book 1678, Page 159 of the Pueblo county, Colorado records. The 1970 Deed reserved to the City a preferential right to repurchase ( "Right of First Refusal ") unused portions of the property conveyed therein, subject to certain terms and conditions. C. Pursuant to a certain Ground Lease ( "Ground Lease ") dated as of June 1, 1974 and recorded on June 13, 1974 at Book 1784, Page 837 of the Pueblo County, Colorado records, Dana leased to the City that portion of the Dana Property legally described on Exhibit B ( "City Property "). D. Pursuant to a Lease Agreement ( "Lease Agreement ") dated as of June 1, 1974 and recorded on June 13, 1974 at Book 1784, Page 788 of the Pueblo County, Colorado records, the City leased the City Property to Dana for a period of 20 years, terminating on June 1, 1994. The Lease Agreement required Dana to purchase all buildings and real property improvements located on the City Property from the City upon the expiration of the lease term as set forth in the Lease Agreement. E. The City granted a mortgage ( "Mortgage ") to United Bank of Denver National Association ( "United Bank "), as trustee, which Mortgage was recorded on June 13, 1974 in Book 1784, Page 848 of the Pueblo County, Colorado records. Norwest Bank Colorado, National Association ( "Norwest ") is the successor in interest to United Bank. F. Dana and the City desire that Dana purchase and the City sell for $1,000.00 the City's right, title and interest in and to all buildings and real property improvements located on the City Property by quitclaim deed in the form attached hereto as Exhibit C ( "Quitclaim Deed "). jhm \dana.14 7/11/95 G. The City and Dana desire to terminate the Ground Lease and Lease Agreement and all of the City's right, title and interest in and to the Dana Property and the City Property obtained as a result thereof. H. Dana proposes to sell and transfer the Dana Property, which constitutes all of the property acquired by Dana from the City pursuant to the 1970 Deed (less the portion of the property conveyed to the City by deed recorded December 30, 1983 in Book 2183 at Page 90), in its entirety as one tract to Kurt Manufacturing Company, Inc. ( "Kurt Transaction "). I. Dana and the City desire to terminate the Right of First Refusal set forth in the 1970 Deed. NOW, THEREFORE, in consideration of the foregoing recitals, and for the good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Dana agree as follows: 1. In order to induce the City to enter into this Agreement, Dana represents and warrants the following, which representations and warranties shall survive the execution and delivery of this Agreement: a. The $1,000,000.00 City of Pueblo, Colorado Industrial Development Revenue Bonds ( "Dana Corporation Project ") Series 1974 and interest thereon have been fully paid, cancelled and discharged. b. Upon consummation of the Kurt Transacton, Dana will have sold and transferred all the property acquired by Dana from the City pursuant to the 1970 Deed ( less the property conveyed to the City by Deed recorded December 30, 1983 in Book 2183 at Page 90) in its entirety as one tract. 2. Upon consummation of the Kurt Transaction, the Right of First Refusal contained in the 1970 Deed is terminated and released. 3. The Ground Lease is terminated and released. 4. The Lease Agreement is terminated and released. 5. Upon receipt of $1,000.00, the City will execute and deliver to Dana the Quitclaim Deed. 6. The City grants to Dana and its successors and assigns, for purposes of ingress and egress to and from U.S. Highway 50 -B, a nonexclusive easement over the City owned roads at Pueblo Memorial Airport. The City reserves the right to repair, modify, alter, change, relocate, temporarily close and provide detours therefor and redesignate such roads. Immediately upon jhm \dana.14 — 2 — 7/11/95 dedication by the City of such roads, or any portion thereof, the easements and rights of way granted herein shall cease and terminate as to the roads or portions thereof so dedicated. IN WITNESS WHEREOF, the City and Dana have executed this Agreement effective as of July &J, 1995. [SEAL] LM V - V Gina Du her, Acting City Clerk CITY OF PUEBLO, a municipal corporatio By: Christian Weaver, President of City Council DANA CORPORATION [ SEAL] Attest: BY: Title: jhm \dana.14 — 3 — 7/11/95 STATE OF COLORADO ) )SS. COUNTY OF PUEBLO ) -����;� The foregoing instrument was acknowledged before me this day of July, 1995 by Christian Weaver, the President of the City Council and Gina Dutcher, the Acting City Clerk of the City of Pueblo, a municipal corporation, on behalf of the municipal corporation. r jo y Public My Commission Expires: �i,c,� e, a&2. ( 999 [ SEAL] STATE OF OHIO ) )SS. COUNTY OF LUCAS ) The foregoing instrument was acknowledged before me this 18th day of July, 1995 by J ames E. Ayers , the ' CFO, Vice Xy=Xby Pr esident - Finance , tNL: an Treasurer of Dana Corporation, a Virginia corporation, on behalf of the corporation. Notar P bli My Commission Expires: J uly 23, 1996 [SEAL] THIS INSTRUMENT PREPARED BY: Jeffrey H. Miller, Esq. Shumaker, Loop & Kendrick North Courthouse Square 1000 Jackson Street Toledo, Ohio 43624 -1573 jhm \dana.14 — 4 — 7/11/95 EXHIBIT A A portion of Section 30, Township 20 South, Range 63 West of the 6th P.M., more particularly described as follows: COMMENCING at the West one - quarter corner of the said Section 30; thence North 01 deg. 33 min. East, and along the West line of the said Section 30 (bearing assumed for the purpose of this description), a distance of 381.43 feet, to a point on the center line of a certain roadway commonly known as American Avenue; thence Due East, along the said centerline of American, a distance of 1716.83 feet to the centerline of American and Fairchild Street; thence continuing Due East, a distance of 40.00 feet; thence South 00 deg. 00 min. 30 sec. West, a distance of 40.00 feet, to the TRUE POINT OF BEGINNING; thence Due East, a distance of 1220.27 feet; thence South 00 deg. 02 min. 30 sec. West, a distance of 366.00 feet; thence South 45 deg. 01 min. 30 sec. East, a distance of 1396.33 feet; thence right along the arc of a curve to the right, said curve having a radius of 590.91 feet, a distance of 463.15 feet; thence Due West, a distance of 2381.30 feet; thence North 00 deg. 00 min. 30 sec. East, a distance of 1769.74 feet, to the POINT OF BEGINNING, County of Pueblo, State of Colorado. EXCEPT parcels conveyed to Pueblo, a Municipal Corporation in deed recorded December 30, 1983 in Book 2183 at Page 90, FURTHER EXCEPTING all buildings and other real property improvements located on Parcel A. EXHIBIT B A portion of Section 30, Township 20 South, Range 63 West of the 6th P.M., being more particularly described as follows: COMMENCING at the West one - quarter corner of the said Section 30; thence North 01 deg. 33 min. East and along the West line of the said Section 30, (bearing assumed for the purpose of this description), a distance of 381.43 feet, to a point on the centerline of a certain roadway commonly known as American Avenue; thence Due East, along the said centerline of American Avenue, a distance of 1716.83 feet to the centerline of American Avenue and Fairchild Street; thence continuing Due East, a distance of 40.00 feet; thence South 00 deg. 00 min. 30 Sec. West, a distance of 440 feet; thence Easterly a distance of 633 feet, more or less, to the Southwest corner of an existing structure locally known as Dana Corp. Preturn Building and the TRUE POINT OF BEGINNING; thence continuing Easterly along the Southerly line of said Preturn Building and building line extended a distance of 283 feet' thence Southerly at a right angle to said building line a distance of 403 feet; thence Westerly, parallel to the Southerly line of said Preturn Building a distance of 285.8 feet; thence Northerly a distance of 403 feet to the South line of said Preturn Building, extended; thence Easterly, along said building line extended a distance of 2.8 feet, to the POINT OF BEGINNING, County of Pueblo, State of Colorado. EXHIBIT C Re0.piiM No. _ .� . Rxotder. - - - - Qutr c[.Ai;+1 Din THIS DEF0. %t:,ae o t= dT of July .1 J het -ter, City Ot Pueblo, a Municipal Corporation i I 36Xd&56UGKlul -, t•rganired and ci 6,9 under and h) vim" of it, laa5 of ttk state of Colo radc grantor. and' Dana Corporation !I a crrvxation 01410 orgwri:cd w4 ezi%Unr undty anti by virtue of the taws of the Stale of Virginia grantee. whrwe legal wicircts M I , i KTTAFS.R. Thai the R�mm (t and inm".Wr•linn - (th --of One thousand and no /100 (1,000.00) -------------------- - - - - -- DOLLARS,' the rcreipt and suffrckrtcv of which is haetby Ktnc weed. has f mised. tekvxl, -W and QLITT CLAIMED. and bS Ume Proem does teettie. re"X sell and Q('IT C-I.A Ihi unto the &ranter, tl5 Pxyxsson and a. 4igns forever, all the right, Ynte, ttrterat, daitn and defintA which the grantor hoa rn and b Mc �e CdeGi}Gt47tOLa2nlpOralf l�t00)DAW7. �aWR�CTIC9� \ODDS 7C�C A ``{ J4K buildings and other real property improvements in their present_ condition "AS IS" and "WHERE IS" located on the real property I d- �.J1LCd in Ezlritit "A" attached hereto and Incorporated herein, f Lying and being in the County of Pueblo, State of Colorado. mr TO H 4"'F. A \D rn HOLD the wnh all and tinguL r the appurtrr .e and OaivilcFei lbereuntu t elrmFirkg, min anywi.e Ihereum� a[•r•erraminq, and all the cslacc, r, Jit. We. i"M,t and,lzim u hat --t. tr(rhe emnl - tithe( In law rx egalt)', tothe only pmpa au, hertefit and *hoof .,t the grams&, its surrswrs and auign; G`rc,ir President Of the City Counc I IN WITNESS H HEREOF, The :rancor hat cmtte itc entpotate name to M btttu%o subser*ed by it / ?0" Otot, and its a City Cle agwaafk ^ m h- hereunto afheed, "tiectec by its QCX the ttn and year first ahme written Arreq .- C ity of PueblO r a Municipal, Corp o tion R) _. BCY. Acting City Clerk President of Me City Council S F A!_ 1 :T r- or COLORADO � . I count) ul pueblo it p T - tK RrtegMn� tn5lnimcnr ..a< actnciwlC el hetnre me tbls day of J . 95 hyChristian Weaver as president of the City " Council. N)P�Iaod Gina Dutcher as Aetinq City Clerk of the City of Pueblo, sw want a Municipal Corporation. xs=mmllax i' Mc ocin iron e.rire• %koi s� n:) hard ant r.EFicia: scat ifm Lmi -tr imerl Tit• and Naneasdad6adPrncoe7N - fy17 a••dLrW, &J' -:Y S.CF57 f No. 81!. ke-. 12 -Ol. tN IT CI.ATM DEED fC nyorotlon to Csrrn stwv l 1- [indrnrd f��.mne. i�.. 'x'arr. st., Dea•es. t7o anzoz - (.anJ) zo;.�xlo _ 1 .v3 - EXHIBIT °A° TO QUIT CLAIM DEED FROM CITY OF PUEBLO TO DANA CORPORATION A portion of Section 30, Township 20 South, Range 63 west of the 6th F.M., being more particularly described as follows :' COMMENCING at the nest one - quarter corner of the said section 30; thence North of deg. 33 mitt. East and along the pest litre of the said Section 30 beari asses a sed for the purpose of this description). di�tanue of 381.43 Teat, to a point on the centerline or a oert.aift roadway Cott enly known an American Avahue; thence Due East, along the said centerline of American A~Uo, a distance of 1716.83 feet to the centerline of American Avenue and Fairchild Street; thence continuing Due Rast, distance of 40.00 feet; thenca south 00 daq. 00 Min. 30 Sec. Waat, a distance of 440 feet• thence Easterly a d istance of 533 feet, more or IASA to the Sout�ve-at corner of an existing structure locally knwn as Oats! Corp. Preturn Pttilding and the TRUE POINT OF BEGINNING; "o he* mntimsing Enuterly along the Southerly line of said Preturn Baildin'g and building line extended a distance of 263 feet' thence gouthorly at a right angle to said building line a distance of 4o3 feet; thence westerly parallel to the Southerly line of said Pretura B u ildi ng e distance of 245.4 feet; thence Northerl a distance of 403 feet to the South line of said Preturn Pu i ld i ng , awteged; thence Eanterl , alonq said building line extended a distance of 2.8 feet, to the POINT OF BEGINNING, County of pueblo, State of Colorado. Recorded at Reception No. o'clock M.. QUILT CLAIM DEED THIS DEED, Made this 24th day of July 1995 between City of Pueblo, a Municipal Corporation XXJ rXX&luly organized and existing under and by virtue of the laws of the State of Color grantor, and Dana Corporation Recorder. r a corporation duly organized and existing under and by virtue of the laws ofthe State of l �i Virginia grantee, whose legal address is I' WITNESS, That the grantor, for and in consideration of the sum of One thousand and no /100 (1,000.00) _ DOLLARS the receipt and sufficiency of which is hereby acknowledged, has remised, released, sold and QUIT CLAIMED, and by these presents does remise, release, sell and QUIT CLAIM unto the grantee, its successors and assigns forever, all the right, title, interest, claim and demand which the grantor I has in and to they@ pig {tlt}g�4��}��pf}>ittg(}�tit�{te x"X�itffi>�¢ Xx �b�9i�6e�ta (gbldt @b dKsifr f}d�s�db4 buildings and other real property improvements in their present condition "AS IS" and "WHERE IS" located on the real property described in Exhibit "A" attached hereto and incorporated herein, lying and being in the County of Pueblo, State of Colorado. j A EXHIBIT "A" TO QUIT CLAIM DEED FROM CITY OF PUEBLO TO DANA CORPORATION A portion of Section 30, Township 20 South, Mange 63 West of the 6th P.M., being more particularly described as follows: COMMLNCING at the West one- quarter corner of the said Section 30; thence North 01 dog. 33 min. East and along the West line of the said Section 30 (bearing assumed for the purpose of this description), a distance ok 381.43 feet, to at point on the centerline of a certain roadway co?monly known as American Avenue; thence Due East, along the said centerline of American Avenue, a distance of 1716.83 feet to the centerline of American Avenue and Fairchild Street) thence continuing due East,'a distance of 40.00 feet; thence South 00 dey. 00 Min. 30 Sea. West, a distance of 440 feet; thence Easterly a distance of 633 feet, more or less, to the Southwest corner of an existing structure locally known as Dana Corp. Preturn Building and the TRUE POINT OF BEGINNING; thence Continuing Easterly along the Southerly line of said Preturn Building and building line extended a distance of 283 feet' thence Southerly at a right angle to said building line a distance of 403 feet; thence Westerly, parallel to the Southerly line of said Preturn Building a distance of 285.8 feet; thence Northerly a distance of 403 feet to the South line of said Preturn Building, extended; thence Easterly, along said building line extended a distance of 2.8 feet, to the POINT OF 819GINNXNG, County of Pueblo, State of Colorado.