HomeMy WebLinkAbout2003 Ordinance No. 050ORDINA NC E NO . ~
SERIES OF 2003
BY AUTHORITY
CONTRACT. NO, NI. ....:;po ~
c.,AlVQ)'Aiul.. #. lo" 11, ~03
COUNC IL BILL NO . 50
INTRODUCED BY COUNC IL
MEMBER GRAZULIS
AN ORDINANCE AUTH ORIZING TH E PURCHASE OF HERBERTSON PROPERTY
BY THE CITY OF ENGLEWOOD , COLORADO .
WHEREAS, in 1969 the City signed a 35 yenr lea se for the Herbertson
property located al 2800 South Plane River Drive with a renewal provision for an
additional 35 years; and
WHEREAS , th e Englewood Scrvicenter , the Linleton/Englewood Wastewater
Treatmen t Plant Admini stration Building and the primary clarifiers arc located on th e
leased property; and
WHEREAS, th e 1969 lease contains a tenn that all of the improve ment s build
and located on the si te bec ome the property of the Herbertson s upon termination of
the lease in 2039 ; and
WHEREAS , the City con tacted the Herbertsons in early 2003 and propo sed the
potential of the City purchasing the property in stead of renewing the existing !ease;
and
WHEREAS , the Her~ertsons consented to se ll the property to the City ;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ENGLEWOOD , COLORA DO , AS FOLLOWS :
~. The City Council of the City of Englewood , Colorad o hereby authorizes
th e purchase of the Herbert so n propert )' for S1,265 ,000.
~JU-The Ci ty Manager or his designee is hereb y authorized 10 sign on behalf
of the Ci ty of Eng lewood , Colorado .
Introdu ced , read in full , and passed on first reading on the 2 1" de/ of Jul y, ~03 .
Published as a Bill for an Ordinance on the 25th day of July, 200 3.
Read by title and pa ssed on fin al reading on the 4" day of August , 2003.
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Published by title as Ordinance No . 5{) , Series of 2003 , on the 8'' day of
August , 2003 .
I, Loucrishia A. Ellis, City Clerk of the City of Englewood, Colorado, hereby
certify that the above and foregoing is a true COfD'... of the Ordina passed on final
reading and published by title as Ordinance No.C;;Q__, Series o 3.
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COU 'CIL COMMUNICATION
Date:
Jul y 2 1, ~003 I
Agenda Item: I Subject : Purchase of H erbertson Properly
11 a V
Initialed By:
Publi c Works Department I
Staff Source:
Ri ck Ka hm , Cap it al Proj ec ts Direc to r
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
Counci l au th orized th e lease o f th e H erbertson Property in 1969 to facili tate th e construction of the
Servicen ter.
RECOMMENDED ACTION
Staff recommends that City Council adopt an o rdin ance approv ing th e purcha se of th e Herb ertson Prop erty
for $1,265,000.00.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
In 1969, th e City executed a lease with th e Herberlsons for approximately 17.8 ac res at 2!100 5. Pl atte Ri ve r
Drive. The term of the lease was 3 5 yea rs at $6,000 per yea r wi th a renewal provisi on allowing the City to
renew fo r an add itional 35 years at th e sa me $6 ,000 per ye ar . The renewal date is April 1, 2004 .
Th e Englewood Servicen ter, the Littl eto n/Englewood Wastewate r Trea tment Plant Administration BuilJing,
and th e primary clarifiers are located o n th e leased property . About one-half of th e property is encumbered
by eac h fa ci lity. The lease contains a term that all of the improvements built and loca ted on th e site
become th e property of th e H erb erts ons upo n termin ati on of the lease in 2039. Other terms contained in
th e lease rega rdin g the use and sub-lease of th e prop erty to th e Bi-City Plant ma y be unfa vorabl e in th e long
run.
Englewood staff reviewe d th e lease terms and co ntacted th e H erb erl so ns in ea rl y 2003. Staff proposed l o
th e H erbert so ns th e potential of th e Ci ty purchasi ng th e pro perty instead of renewing the exis ting lease. A n
MAI appraisal, el ated Apri l 28, 2003 , by th e City se lec ted app raisa l firm Metropolitan Apµra isa ls, Inc.
determined th e fa ir market va lue of th e land to be $2,300,000. Staff negotiated a purchase pri ce o f
S 1,~6 5,000. Th e potential p urchase of th e property was discusse d and at the Jun e 25, 2003 Bi-C ity
Supervisory Committee mee ting, both Englewood and Liltle to11 rep rese ntatives supported the effort to
acq uire the pro perty.
FINANCIAL IMPACT
Fundin g for this pu rchase wili co me from th e City of En glewood's General Fund balance. Th e Ci ty's
General Fund will be reimbu rsed pa rt or all of th e acquisit ion cos ts by th e Li ttl eto n/Eng lewood Wastewater
Trea tm ent Plant su bseq uent to nego tiations between Englewood and th e City of Li ttl eton.
LIST OF ATTACHMENTS
Pr o po sed Bill fo r an Ordinance
Co ntract to Bu y
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llY,P",nallllll ;,itnlOII afr:at1 Rltm, C:.U.:'lff ~,.,.~ w•1•• ... u ., ..... a.1pp,-wj n,-,..-Co,11,tN• it. z.-
0:i ■-Mla. (CllJ-M'f\
CONTIIACT 1'0 BL"Y AND SELL 111"1. i.STATl
('0.,CAA'T 1.A.'ID -JAJI.'\( -RANCH)
On:: Jul y 2, 200J
1. AGREL~l'lft. Buy,;, l\gi:e:1 to buy &Ad dLc-~ SoU,i, 1tret11 to sell tho .Propc:ny dimticd bdcw OD
tbc: t:mll ;ad ccmditicms :itt fonh in duJ Cl)l'Jl¥" ..
2. DtFll'iZD TERMS,
L Buyer. .Buyer, City of 1:D&,law04ld., i ColonJo tu:una r\ilc 1WW..:if)al ~raciaa, Will aaka ml• ~ th. nra1
11iopcrry dt:saibcd 'c:clcw as D Joia1 TtUDta O Te.mall ID Cammon ~ Otbu ;p. iP 9\VQ :Mffl!.
b. Pr,rpeny. 'The P!opom, ii 1h: followios io,,lly <!escnbcdrcal ,11110:
S.. l!xiu'l>it A anacb,d hcn:10 ,ad inoo,pontod buem by !Ilia :oi=occ
in dlo Co1lU1y of .'.np&l,oc, Colol>do, :rmrllOO!y kl:owa "
~•. Vacan, Wld loco,-,I ,r approximac,Jy l9C0 S. ?Wit Riv,r Drive. !o:lewood. CO 10110
:lllt.-.-..Mffll c:io, ~ J-.
t0g11har with tbt insctom, ea.semw.s, ridits, bmc.fus, impicvemc:us wt 4ttldMl4 1htuto£ appur.l:n&Qt r.bcreto, &ll
inlaasr of S41l:: m va.t:.1tcd ~~:a and &J.ley.1 Mija:em theieia,. a:cpt as bm:in achldsd.
C. o, .. ud lkadllaa.
llvm 1-j Eve■c Date or DDdlioc ~--
11 I I l• I Lou, .'-licatioo Ocadlio, NIA r 115b I Loan Commitmear ~lit.e 1 N/A
115c I B~vor •s Cn,cii, !oiaraliooDc"1lino I NIA
• I l 5c I llil•-•oval ofBuY«'s C,edllll•adliru: I :-I/A
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I ~ )d Ob fttUoD to D1111Jllr: Luu0•Mtlib: NI.\ I pd I Ob •ccboc <DE>iislintwnDoadlw l :-1/A
5 Sd Towoval oi Lom TRlllfer I)ead!in, I SIA
I 6 6a I Aom>iM1 Doodli!:~ I 'NIA
s I s 7a TilloOtldline -. I !ult IS. 2003
10 10 '7.-SUM:v D•dlln• ! Julv 11 'lnn'J
:.1 I I 7b ~ Re•-Oeidlioe I lclv IS 2003
\2 I H1 Tir1e Ob1ection D~ Autml 15 , 200 3
I) I I lb Qlf.ll,oord M1tt<n U<>dl:Zlo 1wlv l!i. 200J
!~ I I Sb 01!-Rffilrd MarAn Ohlccuoc Dalllill, AunmT 15, 2003
15 I d 1n Seller ', Pr----· n, ......... _ Deadlmo /ulv \.l. 2003
16 ! i lOa I lmDootiooObieeuoo O...ai:>c NIA
17 1 '!Ob I R:solunon ~ N/A
I~ 1 4!1 I 00"••?)11.11 I Au~~ l~ 1003
19 I , 16 I !101S:cSsionD11e 1,1,c1..;-
20 ! I I ~ ?OMWionT~ Atclo.slM
ll 1 128 A.ccrnbnce DttdUU Date l•lv 11, ltlOl
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22 1 n1 I Acceftlance D11dlma r,,.. l:OOPM!-fTYI' I
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.. ~ u,,.... ... A ,taGck QI' aimilu DWk Al I box mHU dm IOt'h rrnvi!Ulm. i, appl.icablc. Thi
ailblmllia"NIA"-IIOllflPlicallle.
3. INCLUSIONS A.'QI IXCLU&IOJ(S.
.. Tliol'lllcmaPliooilclllaldo,fi>llowillllllll:l(lm:luliam):
n)Jlllul& 11.-101111Pr,pa1ycmdltdoloofdu=mao,,licJamc.llNlilll,pillall>mtl,
~ and mrcoaditia,,iqa-.., a,14o ..... "m1111114-tmablocJor,jKb, p1-mlaoa, lloor
..-,.,-.....~ • .-~mlooanll;llldall-1proponymequip,nnloow lDcl!odoa .. ,._.,
Q) --[bilalia>ally Delno4].
(4) W■llrlip.."-Tllo~ legally dcooribod _ril)D, Aa,J O'MIOCi by Sollor
(S) Gnwfa; c,.,.. Wlalmpeci to dio g,awina crop, s.Jkr llld Buyer Ill". ro11o ... , NIA
11. 1Do1naaa11 ti~-Thi lnelmiom .,. 10 bo eo,sveyod a1 C1ooi111 !toe ulll em or all lWll, U... 11111---. -u p!IIYidld IA I 12. c-.y.. sllall bo by bill ct "11 or olllcr appli,:ll,lo !,pl
............_), M'f-riallto .-II IN "'"veyod hy _~r.t:d orocbcra,pljeable loc■I mlUllmODl(S),
c. -'l1lo follawlllaalllCbod tbmno ue Olldudod6oml!ila11lr.
4. 1'1111.CKAB PDa: AIQJ TZIIMS, 'lloo r=-l'rico ""lortb bolow shall N ,-y.bla m U. 9. Dnll"' hy
la,-raalilllowc
a. -w-r. 111■S.-M11MY11t!'onhiDtllils..,;mi, iDdlcf'otmotwot lsponp1YDW1or1111
---u.l ,i.n ""[Ulllllhlo ID 1111d bold t,yTillo c_., ID 111 ............ oo balial!ofl,oA Sdlet qj
lluyw. 'lllo pmia nlbo<iD dolM:ry of 1lao !_,, M-,, doposll a, Ibo C!otinQ Compu,y, if 111y, u or brion:
ci..m,.
1,. :<cw i-(lot,oaooallr o.i....q •
.. Aaaalplfoa. [lllloldoNllyDololodJ .
._ Solla-or J'rinu FIDuolq. [lmationlily 0el■1cd}.
0. C-,11111 0...., All ■-a pllil by lloy,r OI Clollq ID;l>id!n& Cull U Clow,g, I""' a.,.., ....... """'11ia1t"" nafmsm -~,..i, a11 ~ c.Joiw1o ........ -;....., w1,, elommlG 1rwm
Alods.c:«Ublc:i..i..immsudloootaU.'1 <11o<l:olldeulia'1cllocl:(Ooodf\mds).
5. JIIIIANCJNG CONDfflONS A:m OBUGATIONS. N/A(114 reawalq po<lioa •rPancni>' 5
iDMlllullydalotl4),
6. Al'PLU!i.\L PRDVISIO!'IL ~ .. Appnllll COldldeo. Tim -OG .. D Sball 181311111 !'l•t ,pply .
N-. CUU.,,. ~ TO ll1Y AND IIU, llAL llffAff (VACA.-,,. W<ll• rAUI• lk""'U .... 1 ,n
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b. COit of Approioal. NIA.
7. IVUWICZ OrTITI.L . ✓
L i.-of TI11o; s--,,. ClD or bf1bff Tldl lllo4llat (f le), Sella !liaJI .,..... lo Ill !!.miJbod 10 '¢ ~-'i: \,
Buyer, at !Iller'• -I C1llnlll e.,,.,,._ for.,,.. .... title !DI-poHcy Ill IO IGIOllal 1qa&l 1o tlla "', 1--;
Puldluol'd<torif!lliaboxbchecbd,0AaAltUracloflillt....W101eutm111daa lf,11111....,....~:~ -Is famish,d, it Ill! 11111110 SW Not-ro dtlnt or ioaurc •= iho •a.idaldmtpaa111 wllioll ) ....... m==r.:::...
~
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,.,,_,,..i-....,• u ....
ca,l"'iod (tJ!laiwdat<of_,.;lmlOl todGtdndilreco,d,dJ,uid
(6) ,_.i....., -md IIIIRdoemod 11> akl prior., tbl yaor or Cir •~
A"( addldonal Pl"mium _. to obcain 1'lil additioaal oo...,. lilllll be pai,! oy □ IIUfll' l!ll ,.._,, n.
coat of my~ I...,... cW1i&a11, 01 '"'"Y !ball bt paid by 181 lay• D -· na ~-
locaoo ,_,.,.. "'"8Y oball buea:ivcd by 8\lyor oo.or belln llln'11 Dct.W.. (f lo~ Soller lllall cu, tlle
lille --policy to be d::li,ffld to lluycr u IOCIDUpnoc!caltlo" 01 alior C.omg.
II. Coples ol ~" On or bofAn 11tlo Deldliu (I lo~ Soller, 11 Seller '• "'Jl<IUC, lllall !'mnilh ID
Jlay,:, (I) 1 ""7 of lD,Y ~""'-...,,._.....,., =vcaaoa, --a1111,...;.-burd~ 1N ,,_.,,, alld <,l,l it
• lillo u........ -~ flllUind ID bo tami,ha!, ""4 if~~ ii <bld<od ~Copiao!a,,o_
Docmall (or, i!Ulcgfble, llll'IDllli&4 ofsodldoc-,,) listed io~ IGbodllloof""fld-(wcpaom), !MD
11 ... i...uao1cboclo:d. S•lleraballhaw a,, c»11pao,1o r..nllll _ __,...,........,., .... .-..,,
~ by Buyer my timo OD ar befon dlo-ltoq-Dndllat (I le), TIils ,....-oba11 pawn
oaly10 -,ubowoofl'ICOld iD tho olloo of!llt elm; uid roconla(s). TIii lilaz><I or mla.....,.. •
Ol!llllli-. ....... will, 1111' oopio& or Wlllllllrin of ,ucb doc:_ .. lllmW114 P"fflll"I m !Illa Secllml. -111<•--(Tid•IJ-) .
.. Tm,L
L TIiie -· B •r•ulullbaN lbcr1J),11o i115p1><1 1ha TilkDOC1mlco"-W riau DO\l;ObyBuy,rof
~ilitJ u(ti~ OI' of uy odcr\lDII~ rid. co,r,ditl.Dll UIOwn l,ytt\e Title OrocuzZll::ms sbl11 bt siped
by or °" bolw! of Buy,r Gld g;... 10 s.llor oo or before TIil, ObJ"'1io• Dol4llne (f 2c). or wtdlio 5>, (S)
c:almlar day, afta-nocipt by Buyer of Ill)' Tille Doc:umon~s) « ---~•) >ddioi -Excapdo,1(1) IG IM
Iii!, owz:mill!Wll to&othor WUA I copy., ... Tille oooumea, -. .... E ... p,iOD(o) lo ..... II s.u. -.. ,
receive BIIY"''S llOCice by the da11(1) ,peoificd ohovc, Buyer accep11 the coadilion of 1itJe u disololod by !111 Titll
n""'"""'1 " atioAclory.
b. M111«1101Sbo,mby11&1Pulllu:llecoru. S clJa sball dalinr 1G Buyer, OD or betaroOa--NI
11b1un llot4IIM (12c) tro e copioc of ,II lftfl(o) md llln'C){s) in Stlltt'& posuuion pc111W1ir,a ID dlo Propcny
tlldualldi■o1-<olll)<r .U -!.ioo■0<otbs1itlemauru,,>1....,.bytbo , bllc.-dsofwt.icllSellu
boa 11:mal lmowlodl:e, IN)'lr sball bavc lloo :ipl '° iAspcct Ult Property 10 c1ataormw, ii ""Y lbird ;>lff)(•l bu any
rip ia Ille PN,p,:r<y DD! sluiwa by die pol,Jie rocezds (such u lll IICl'ICorded ,_ ~d J,a,e, or
~ lioo dll<nplllC)'). Wriuca oodce of "'I •-lilf■c!OTy -•) dioc1-d ~y ~U.,.. ,..o&l■d by
adi iospoclioo sball 111 •lsaod by o, oo bcbalf of Buye: and pvea 10 Slllor on or btforo oa---.i Ma=n
Objoollow lleadUH (I Zc). It S.Uor dotl 11111 1<ceivo Boye', oodco by ,aid dall, Buyu amp11 tide suhjce1.,
sudlripls, lf oay, of third panieo of wbldaBuycr bu IOIUlllmowlod&c,
c. Sptml TIDIIC Dt,ctc& SP!!CIAL TAXING DISTIiiers MAY Bi sn.JICT 10 Grln.U.
OWGA.'IION I Nl>UTJ.IINJ'~ T JUT ISP AID BY llrvENUIS noouao J 110111'.ANNUAL TAX
UVU:& ON TD T.uutl: PllOl'!llTY WJTIIIN SUCB DIBTRICTS. l'JIOPDTY OWNPI IN
SUCH llUTllCl'S MAY D PLACm AT 115& 101l INCUAIED :lfJLl. LEVIES AND IXCESSIVE
TAX B'OaDIIQ TO SIIJ'l'OllT Tm SDVICINC or 81/Cll DDT WIIERI CTIIMIMSTA.'105 A111S1
ll!SULTU'IG IN nm INAIILJTY or st.'CII ADISTKlCTTO DISCJWlG!SUCll !MlDTEDNZSS
wtnlOUT SUCB Ali INCUA.51 IN MILL LIVUS. 8UYlll 9HOIJU) INVIS'l'lGAff TRI 'DIBT
lIIIANCINr. UQIJ)llllliNT8 or TIIJ: AUTllOlllUIJ GI:~ ODUGAT10I1 INDEII~
No.CDS-Mt,COl<nACTTOIIIY.-.~DU:U.UAl.ZSTAll(V.C.,..LAND-F..aM -JW<Cll)hpl•fl~ •
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o, St:CB l)IS'TRJC~ll. i'.XJSTING MTl ,J, 1.~Vl!S or SIJCH DISTRICT SERVICING SIJCB
INDDT&DNlSS, AND 1111: PO'n:~'TIAL 10R AN ~CREA&l t'I SIJCB MILL U:VIIS.
Jn !lie ..... die Piop,ny I, localad willml I 1pcial IUU>g dlmict ml s.,... -(0 (OGIIUIIII tllil C(llllPa
u a rcsuJl, 11' wrffllD oot1ce ts reeeh'od t7y &1lB& 1.111 w !Jc!gi• Olr•R.cPNi Mart.I ObjNde■ n.t.dJla, (I le), thl.c
_,,, ,bail <11o11 ltlfflM&I<, !! Scller do,o DOI ,...;,e Buya'1 QIJQCI by NCh d&b:, 811)'6C '"'PIii the ell'ea al illo
Prop,nys 1111:IUIUlll in""~ ,pocial iaxiog du!rict(s) aod waive, tl,c rilbt 10"' "'11ioatz .
d. JUebl to C ""-If Se.lJer rec.er,u IIGdu of LlDDIUCUDllttil.Jty al dde or Ill)' o!Jwr w~'KIQI)' tide
caodldao(t) or tall!IDl-.i 11mD u prowled in I I , ot b above. S.U... iball me =nablc ,mi~ 10 COl?ect ...S
i-1114bnruyBDm!nal"'!',....,comcllh:S&mepriottoCl01illl. lfsudlUD01ti&h<taiJ,Uttecaadilios,(1).,.
DOI -DQ ct be{on, C!Dsioa, dul COllll'l<I w11 tbao tomioar,; providod. bowe,a, Buyer imy, by '''"'""
notice n:cci\'ed by Seller, oo or btWIW C1os.iDg. waiva objecdan a, NCb iccml,
e. TSUI .W\'WliJI")". 'ns TlUO ~ Di!'tc1 iM WI!, owunll. Mid uae nf tM Propm;r and should bo
...,;,.,,d cuoAll]y. Addiiiau!IY , alba mauc,s cot mloctod in tbo Tltlt Documami may dl'ecl tl>o titlo, o..,..,,hlp
ml .. of tit.. 2,cpa,y, in<lraduall withour 1imi11D011 boutwry lino, snd ~ .,.., zoaiog, 1111m:is?.iod
e&SCIDIAD imd claiml of~ Jr.aatj w1 oWT 1.IAl'ICllnkd ~ ,nd variou.l lawa ud P,vnzmnlll
~ oo-=, lmd UM , dmlopoclll ml e,,viroamcznal 11W10rL TIIE St'RFACZ ESTATE MAY Ill
OWNED Sl!.PAIIATBLY PROM TIIII lOO>IRLYL'l'C MINU.AL !.STATE. A.~0 TRA.'ISFIR or TUI
SIJBJ1A.Ci EST ATI DOES NOT ~ y INCLUDE TllAN!nll ur 'l'lllO MIN?JIAL IUGJITS.
TIIIIID PAKTIES MAY HOLD INTEUSTS IN OIL, GAS, OTI!lll Mll','?JW.S, GZOTIIEIIMAL
BIIEllGY OR WATl:ll ON oa UNDO TIB PIOP'-ATV, WIIICB INTEIIJ:STS MAY GlVJ: THIM
IUCBTS TO~ Al'l1J llS! TIii: lllOPtarY. S 11<h 11W1CD nayb.,"'luded fromtbl:ille;-
polioy. Buyc,r ii ldvil<d to lin>ely 00."'111 lop! '°"""I wuh rc,pm., .n soeb ,..._. u tllert ll'C m<t dlDI limib
pnn-Ldcd u, UW c.cmU'IICt (c.g:., nu, OlJJIICtWa Da11ilU11• [§ 2c} =d c,a.Qtoo,d M."'11 ObJ,cu .. D•l'fUIUI
lt:Z.D ,
9, 1.1,\D-a..sED PAl.'\'T. Ulllea WlllC>I, tfrlre 1n,prov,_"" die Propony l11<1ude ou or"'°" rcsidoolia!
dnlli111(1) (or wlllcll e buildiq p<rmil"" iuued pnar., J""'"'7 I, 197&, <1111 COOD'ICI >bll \No ,old .. 1 ... ,
omnplcwl L<..i.Bued P &iDI Dio:los>a C Sala) f 0111111 s ig,d by S dl<u NI tbe req,m,d rw e ,1111 li<mscc(1),
--ee=prio<ro ti..l"'rtioo~dlile"°""'
It, PROPIRTY DISCLOSURE Al'l1J IN'liPtCTION. On or blfare S.Utr's Proptl'IY DbdGottn Dradliae
Ct 2<), Sellet ..,.., 10 provule Buy,,r wnll • wnt!CII .tile!°""" o(odvCM.....,. n:gardill;""' l'ropaty "'""'~r,d
by S.Uu w ll.e \,c:al, c49dk.r's ~r MNAI knowltdp,
a. Ja,pe<tioa Objocdu Deulla.l, B•)'III' sblll have die tigm 10 b.ove iiupecdoo(,) of rlre pbysil:al cwdilioo
of Ill,: l'tof)fflY llld loclusio"', II Buyer 's "PCM • If Ill, ;,hy,,<11 :ooditi011 of tbl Propeny or lls<lusion, ii
u:m1twi,ctory in Buyc'J subjo:ttvc acrtt1Cm. .Buycz ltl&ll. on or bc!u."1:1 Wlp1E"1io11 ObjoctlDe I>ea4bt (t lc)i
(1) IIOtl{y Seller ill wri1ina 11w tbll con""1 ia ,emiino1od, or
(l) pttmde Seller wnb I vmllm il=crlptori o( 111y llllildlOcro,y phy.iul cOWl>oll wbich lluyct roquinl
S.llcc to ""'"' (N•-ro Carrcet).
lf wrirma ooliD• I, not n:c<ival by Seller DO or b1fbn, Wj11CUG11 ObJeetioll Dudllll< (i 2c), w phyrical
,oa41Mn oftbt Propart)' ud latW.l:icw WI il hft rtr.r.fflfld to ht wimcmry to 8U)'a'.
b. -lad .. lleadliu. If l No rice 111 Comet is i=ivod by Seller ,lid ii Buyot .llld Seller blvc not apeod
m MmllJI "'I -thacal .. ar bdon: Raolodoa Do■.w.. (I le), <!Iii coalract shall -... e&lllld■r
clay Q1l10Ma5 d:lc a-.wuu ■ Dudlac (f lo), \ml.cs, bofora nob ttnDml2.cion s.nn ff'Ce,YH 1'uy,.,..•• wntltta.
wimdrawal Dftl>o Norieo ro Com,:t.
.. Dsrucr. !Jou; llldllllllity. Buyer ~ iapwiblo for pl)'DOIII lot Ill UIIJ)CC1iOOJ, ·=·· ~
rcportJ or tor my ocher work pafurm:d ~, Buycr '1 rcq,U1::St IIDd lll&1J. pl}' !or aAY damasc wbicb ~ lu 1.1,.
P:opany 11111 r..:lu,iom.,, n:"'11 nf Nch aouvi rits. Buyer oh&ll 001 pmmt claim, or lic:,is uf..,y mlagsin,ttho
P,apmy r.. u,ipeetion.•. •"""l•. "'limmml l'J)OIU 111d for aay orher .,otk perfurmed on \hi Propeny II Buya',
n:quat &ye ■gn,cs tu 111d=ify, pro1ee1 aod bold Sclk,c bumlc11 from 111<1 1piolt Ill)' ti.hiliry, cbmaao, mt"
.._ ioamd by Selic in cou=llOII w,tb ,ny sqcil iti,peaio.,, ::llim, or lieo. '!1,is l.adtmaicy izlcbldeo Seller',
~ IIJ ri:covcr .&.II ..:V.1.1 MAI~• iDcwn4 'ty 6cllc:r to aalGrN lb: Nbcc:-cnioa. 1DCJu.di4i Sd ll~r'( reUOG&bJo
momoy b. The p:oviaiON of this mbMcti= shall ~,1rvh-. el ~ rJ tbi.s caotne1,
IL CLOSING. 0.livcry of deed(a) fro'.o Sella' 10 lluyer oh■ll bt .r C!o&iog (ci..sio&). Clo,mg shall be o• !!lo
d■tr: ,pcci5'd • di< CJoaac Datt (§ 1c) oc by miutlill -""' :a,llof u . Tbc lloui ...i """" •<'Clo<m&
sirall be u datp,accd by Buy■r . ;,/rn.
•~CAl>-fM, CONnACfTO lllY ANDSE~L H AL UTAn: 1VAC;..'<f L..,,D • P.ut\1-tlA.'Clfl •'I• <o<1~
u. T&ANIIIU or Tffl.L s.i,;-" ,...._ .. po-u Clooin1 u ,oquircd bORia md ..-by
lla)W•idldio odiot-Uld prcm,iambonot; S.U..fll.U = ud doliYW •rood adsullldllaa...i
WIIIIIIIJ' dlod lO hyor, u Claiaa, ~ Illa Plaporl)' ho ad claz of Ill -lll"P'lbl -1-6lr
.. )S oCClama, llxclfl u pnmdld 111nm. 1lllt 111111 be c:mmyod fno Pld dear.Cail U.,, ...._-,. ...-i 111m b: ,pecial~ imllJlod II afmt daa oCilu)'er'I ,ipam,e ~ ,,.._ __
.. ..._ TldesbaUbo~ml,Jearax
1o -...,itlcl!xaplba.......ibyrr:!fno<e10i-,iod-1tlllla:dilatbo 'fillo-
,_...ii,,1111ywia__,.wtdi I kl'l'illa ~i ~-4-alllly-
.. -,ptallolllJ 4-W rip• flllird plllliM DOI Ibo"" by 11111 pllbllc rlC<lda of wldola.B ll)'llr bu
............... 11111....,._,...,Sbylloy,rilllCCOldmccWllll!ll>i-NocSho•bylbeNllc -~-... ioclulioaoldic l'rop<lly widlia•y apccial ..... dia1rid, u,d
.. dio ...&om bua!oot o!lll)'doclualioa llldpc,y walllpffllllffll, !!any, 111d t--13,PAYMINT OJ' INCll!ICIIRANCIS. /\rf.....,...... "'IWffil IO bo p1lid sloll bo poid • or bdhn: a...s_.._,....... ofllil llllltl<lioAorflam-,...,......,
14.CI.OIING COS1'SI DOCllMlfflS AND SUVICIS. llaya 111111 s.tlar all poy, io Good ..... Illar
..,..aw°"'""com...Solloallma'"'ll'iAd10bopaida1Clolil'l,-uodlorWill~bnia. au,,:r111111s.u.o1oa11...,. .. ._....a11__,,, .. _,, ___ a1orl,ojaeCl4aoc, Pt.
61r NII -~ -111111 ba ,-1 u Clams by ~ 0..-llalt lly lll)W 1oll o-lJ■lf by _. □
111yor □w.□o-111oi-1_..raafl:l!A...-,--,.-ot-.,-,,.-------,-11-i..-l'ai<l-.-.,-C1oo-ilc_br_,,□=-•-•,..-□~-~. iJf
llloollld _ .. 11111 ay ...... b ...... ofail -...su1111o poid wtia, <b, by D..,.. □ Stlllr.
tS.PIIOIAt10NJ. l1io mllawma sblllbo pa,1-4 » C1o1i1ia Dlll. .... •--■JIMl■d: a.~ ~pmpo,,y-Jfay.ada-alllll--lbrllll)'llforc.:._-oa
Onthm ..... C.-..Y-r-,~a..,1:1!1n.:11ata--i.., .......
--□~-...-::---....,,.....,..-..,... .... -~ . II.._ 1-bllodooOllalll~.....,.,./l!I_..., S-mydq,oslahlldbyS.U..fll■il
boOltllll■d»Buy.-, -lll■llmplll-lO~adlll)Otfll■il ■-AIOll-e, _Prw,,_ w ..... ..-......, ... 1-.. .-.loa(,~if-,;waa,,_.....,.
C:,-0,~farpan:l,Moad&aleof-.,_tn llleDcvtr,CO-,.-.,.._
... Jlul~ IJolcu....,. IC!" ......... -p,-fll■II be flml.
l'-POIIUIION, p_.;.. of Illa~ WII bo delivnl ID~ .. ·-Dua &ad ........
11-■(f 2<), AllljlCl»llll lllllowina iRH(I) or~•): ;u$■Lllllddhtmll--l JIP!idlelll!lllll. --------If-. dlff <:lnm,a. !oil& ID deliver..--= ,s ~Id, Sq 111■11 bo Al,joal 10 cvic1iooml fll■l1 b■
addllioml1y ll■blo Ill llllylr!orp■-o,S per d■y6om1M P-.. 0.(f 2o)lllllil poaouiail ~
17, lffJT Alll~,Ul,L TIils -1blll ooc be ..,;.-ia by l!uyu...,.. Sellor's plior--
8'1capl 11 •--Ou-dwl"""" IO IU ,._ot,lld ba'oa,dlq ,_ lllc boin. -1
,._.;ws.-.llld..,ip■ofllwpar!la.
11.CONDmON OJ, AND IIAMAGI TO 1110PD.TY AND INC'I.CSIONS. b>opl u olht:nwiapNlflded
ID ml& -1111,.,_, -or bodl >mil ba ddi,..'Dd la 111, -.dllloa o,ri,,in& » ot ,_ -.,,_.
_,,on111111y_lDCltarnoeplld.
a. ~ lmu'IML la Ila near lb■ mp,ny o, loclmiom flllll bo daoapl by tbe or .._ OIIIWI)'
prior .. Oooil;. io .. -.; ....... ,... !al p<rC<ml of tllo I01II Purcllaso ~ !lollor IIIIII Ill ohll,,n:d ID
np■lr die -bdn tit Cllllac Dm (f 2<). 1a 1k .. .,. llldl ._ ii .. 1 r,p■iied widtio ail mr .. or lfd,t
~ ---du -oayhe ....,;nu.Ill II» op1ioo otB-by dolivamrlD S,Dir wril=
.,.. "'1lallim1loa. Sbould~■loc!1>cmy1"1mio _,dapile _danap. Bll}sllall bl lllillod» 1
ondil,atClollq.li>rlllllll-praczodal<IWliistomsw:bdlmqotodaol'n,p,nyllldilMllio"°p■)IIIII
11Scllllrlltll11111dll.,.._.'_l■aioo,irauy,pllall,o-ot,., ___ lllrianca...,._
polioJ, ldcrodilQDIIO .....dtJi■-ri'mdl&IIPrioo.
IL ~!Ddml■u; Sa-rica. ~111Yloc-1(1)or--,.{1)(iml-.~llld.....,_
of lllo Propeny, LI, Ulltng, plwlll,iAa. OIO.) U orb■ dalllap,I boma 111■ • of IIDI -~or ,..._ wti1o1ioYw 111111 ba e■rti• • ..._ Sella dull be Habit lllr 11,o repair or 11P'-«....i. l
N•CUU.•.CON11AC'1'TO IUY AND l&U.ll.U. tSTATI r,/AJ:JJffLANU• ,..,._"'-IANC-, .. let
•
•
•
•
•
_,y!H(CI) with I \aid of QIILIW IUD, •ac 11r1rl 11111 hty, o, U. ~\V~eat c:n:diL but OA!y to tbe C'mnt LUJ: the
...-...,. or rcplxC111a11 of ,.chlocllWOll(s). S<rVice(s) or (im11(1) i, not tho ,.,..,....,llllyoftho o....,.•
._ialion, i! 111y, I• uy imu,a.,. i""""'41 m:eivod by Bu~ eoYflfiaa ,.,. rep&ir OT repla=m:a, '111, NI< of
loll Iii< 111y d&mlllt ,a growlq aopo, by f:n: o, ull,c, ~. Jllall bo -by tu pony ,mniod to 1hc IP'"''"C
mp1,ifaoy,upmidod iu p aodsudipUl)',hlllbe Olltlllodto 1111<Al...,..eeprnc<ed!orbCflt!l1S(0rtha
puWllaops,i!uy.
'-Wllll-tllnodl; Vullbdao of CO.ld!Noo. Buy«, -,.,...010 uotie<:, sliall 1111,. duo rit;hl w wall,,
drau"1 rllo Propmy pncr lo C1miDg to verify !bat 1hc ph)'Si<1I couditi0<1 o! 1111 Propmy aod locl,aioaa oomplios
'CVil:b du, c.oatnct.
11. lliCOMMBNDATION or U:CAL A.'m TAX COUN611. By •• , dtls doeum:sir, 8uy,r 111<1 Seller
...,.,.,,ledao Iba! Ille Sellloi Company or Ibo Listioa Comp111y bis 1dYised tbll lllla documoat 1w isopcnw,1 t,pl
~ aa4 bu ~ tho cuminelioa cl 111:1. and oo~• ._;th 1ep1 and ftll'l flt' ndw cou:mcl
boforo sipiq 1h11 eoottact zc. T1MJ or llUl'la AND IIEMll>U:S. Time is of tbo ..,,... 11ueot i! any no• or '1le<k ,_.,,d u
.-Moacyhcmmdm-ormyolllorpoymoo10....,_il1101pald, lloool"'1w -.dwl,qduo,or if,.y
-olllig,,i,:m ""'-'-ii not pmllnDOd ot waived as bueui providod, Gim ,lwl be th, fi>l!oWIII~ ,cmcdios:
L lfluy,r ll lo DdalK:
0 (1) Spccillc: Petfarmll<t. Selllr DY t1'ot "trnl :lw coozna u =loci, m w!llell c:uo tU PIY-
aod liliop of valw: ru:eivod hommder ,lwl be ~led UJI! 1-.ain,d 00 bdtai( of s.Jler, 111d senor may ,_,..
nl'b. dawi:pe u ray be p-opor, or Salllr may Net :a tr~ac Thi• r.l'lnm.ct u belDc ~ full fon:e &ad off'lc:c and Seller
lltail llavt the ripS lO specific pmormw:, Ol daa;to, 01 both.
Ci!I (2) Liqaldalld o._ All payme:111 1114 tlliop ot v11uo -,vcd ltetewtdu slltll be torreil2<. by
!lll)'lf lllld-OD bolllllf of Seller 1111d boCh f'W" ,llall _, be n:kuod from di obliva,._ --•-It
~ &pNd diu w po)'IIGD and tltio1P of vllut "' UQlJIDATED DAMAGl!S 111d (exr.ept u p,ovld-.>d iD
U110<1ion e).,. SELI.Ell'S SOLi! AND ONLY a.£Ml!DY for Buyv•, t':lihtrt to pati,rm tllo obUplions of this
-Sellar ,oqnuly -.i,es tlto .-,. o(,pooi& pmGl1IWlO: Ul4 -cal~
11. USe!J,ri, lal)o{asslt: Bu:,wruyeli:ct to trulrllls COJlllffl u =l,:d, io-ca,1 allpoya,rnta lll4
..,_. of vtlua .........t i......ndc, sball be reo,med 111d llll)'O< :Illy roeover such dum11= " .. y be pn,per, or
BIIYI< may cle<t to ""t tills eoomc1 u beilte In fttll fme nl -and Buye, sball lttve tho ri1ht to speci&
pen-Of dtmai=, Ol bo:11.
c. C..u IQd .&zpeuca. In dac avom of any arburuian or litigation rtil4rira,: tn thi, canaact. thr ubitrarar or
cwri 111111,.,an110 ti» proni1m, puty ,n ...,Olllbld ""'"and_...,~ -re.,,
n. :IIEDIATION. I! a dlspu1t ,ri,oo rcwing lo this eomrw, prior :o oz a&r Closina, 111d !s 001 resolved. 11,o
pani111Jwl ftatprocnduigood faitbtosubl:mrtb.c maa:er1om~ M cd.iaWMI Lsa procu, i a whicblbe
pnosmootwidl an impanlal-wba belpa 111,esolve die dilplllO iDfDnmlly mdeooiideomlly. Modllror.,
..,_ impoM biodmt deciaioit<. n.o ponie, 111 tho di:pWz lll1Slt 'I:'"' before any ,.n1om,nr i, biitdioa, Tito
p,rUII will joilllly appolsx ,. =q,ral,I, modwor llld wW sltart equUy ill !he cost of suolt medlalioll. Tbt
amdiarioa. ual.m o1h.erwii4 aar-d, shall termlllalt' UI 1-e cvem: tho eAl.n dl~ :, not taolvc:d jQ ealtaodar da ys
tom tbo dat, wsinlll aod.:• ttc[\Wldq madurioa 11 itmt by n~ party to Ibo ocbcn's). TbiJ SCCUOll :ball aot altl:r cy
dm ill d>l.s COlll!IIC1, iSIIJao odtorwiJe :igioed.
22. B..UNEST MONtY DISPl1TI. Sotwim>llllldm& '"Y ltm!:lllllO<I or !1!i6 CODIIKI, 8U)"1' 111d Soll« agree
?hit_ 1n tr. evnu or uy i:anaovcny tcgardlag dlC llami:11 Mon;y oDd tbini111 of value u1d by btolcet or C1osiq
C.a,pDllY (lllll"' llmlllal wrilwl ioolrocliom"" r,;ceiY<d by lholloldcr o!tho s..,.,, Mooey utd :his,p al value~
b,nkc,, or 001mg COlllpllly slltll 001 bo tequiicd lO tlkl :,ny actum 1nu may 1w11t my p,oc,OC<ilitg. or II brom', or °°'"" Coiq,aoy'1 opdoo 111d 1olt diicmiaa, m,y ime,pl..a ull pllllei '"'1 depolit 1111' lllOll<)'I '" llllllp of •al w:
imD a OOUlt o! coi:apea:t JYl'iad.M:cicm ad shall l'KOvc :oun tosts :md rcuomble ilIEOtuy flN,
n . T2JINII/J.1UlN. In t1ia ..,... dm OOllln<I ~ lffllli..,.d, all pa_.,. ...! lhml• o! vahle recoivod
bc=oder s.ball be relllnlOd iOd !bl p,nia di.sll be ,.114vtd of all oblipliam boroimder, illl>jec 1 ro ii IOc, l l "1d
22 .
~. ADDmONAL PROVlSlON&. (n. !a.app o{ '-• ,ddi:itul pn,vttlan\ h-tl• r,m: bem aporovod by 1M
Coloado Real Estill: ComiuAoo.)
• h,<••-•-"-•----••~•~ EAIJowood City Ca1lll<il ""1 die exp!rll1oa of lllo JO d&y 1ofo:mtdmn period Wl111otll obj
Nt,Ol\.,l,.ff CON?llAC'f'TOBUV A.,'fl)UlJ.UALUTAil (V 4CA.YrLA.""D ·FAIU1-1.ANCB)Pllldor • •
d,a •YC111 dail c(H1.tiDem:y hM 1Mu ht= ;awfttd priai ta Au,auN 27, 1003, Ibo Clowig Due lbail lxt
omi,d,d umil l .........., d.i)'I '.oi~ the wiarll:1ion of ihi, ::0111icgcr,,;y, but io 00 ....i laler
!!YI Sep!a!!ber lO, l OOl . If thc «>Olinpncy ,c1 fan!, io !hi, ;,ananph bu..,. .... saoallod by
Scpa:mber 2:,, 1003 , iai&bft•panymayfl::aDiaal9tbU Comr&0l\lpoA~ da)'l priorwritta.aouce ,
I . TIit puria acbowladce tha1 Bum C\atmldy i<uc, thc pn,paty widtr I ioll8 """ ltuc. Al duo
limo ota...,. , die i.a. shall,.,....., wt rm lihall be pro-11114 m chi: d.llO of ,losin;. In duo
"""" Buy01 lllils to ,1011 lllldar mis Comn,;i r.r 1111)1 rcuoa, 1111 ponlc1 Kknowicdv thGo 1111 luM
sb&U ranaiA m full tort• W effilci Ka:irdlng co iu =m,,,
C. Tiu, !"nie& -dal die 1ide eammilm&m1 ml o..-.cr'• pollo:y, "'4 Ibo """'" ...,.y do-..,.,. shall
bo bold by Security Tille WIIRIICf C-y or N<il cnl,:r hca,scd dlL: "'-u dc,,paaod by
Buyauod nuomloly =-p,able m Sdlor.
%5. IN'lllll: Acau:,flNT; SUIIUQIJl:NT MODUICA TION 1 SURVIVAL. Th~ ,_ cc,uti11111t chi:
eadl'I c:omraa-bctwcc:a !!al pwtie& ~!Mine m a.a: :naj-.;t =co( a aay pnor 11p.,.••u• penami,..~ "1r:n:11.1.
whtdoa oal or wriU,,n, br,o boCD mcrp1 and ime;rao,4 ioro !his <out.'l<I. )'lo ,ubsoc;u,mt modi&alioa of any of
1111 tam of dlia OGIIDl<I shall bo valid, biodiq 1111011 Ibo panin, or eaforccable uol<a made ill wriliD¥ alld sl g,,<d
by 11111 pUtiu. A,,y ollliprioa ill chis COll!Iltt whicli. >y !IS.,,..., ll ,ole>dcd to be pmonood 1n.r mlllioArion ..-
C4slog slsali survive Ibo ......
2'.rACSIMJLE. ,;_ ~ M,y □ llby :'IOI be ,vldro<ed bv Ca<lllllile. Doamm~ widl ori;laal
sipamrcs shall bo providod to di,, o1hapu11' lt Clo,iDQ, or earlier up•• ,oqu,,1 of :my f lffl/.
rl. )10'1'!(1 Jixupt fOl Ibo aaliu ~ mcdiali011 W<Dbcd ill§ ll, IIIIY """°' to Buyt< ,ha ll be lfl'lctlve
wbma reoeived by Buyer ar tly 3ol11AK CompADf 1Dd any 11otlh to Sitilat .ball be efflrcTivr. wiw::n recei ved by Siller
arlilmotCOq,uy.
•
:ta.Nana OP ACCUTANC!; COONTIRPARTS. This proposal sh&ll upm wws '""Pied ill wrilina, •
by 81l)'tr md Soik<. u <Vidt:aood by lbcir 11.:,aniru below, 11111 !hi: aacrioal P"'Y ,_ no<ic, .t --
__, 10 I '!1 Oil or bofln ~ lladlim Dao, 11111 Ac_.. DwlilM Timi (i 2':). If acc,pud, rlzis
.i.a-, dsall bNnme I COIi'""'-. Stllcr tnd S..yc,r. A copy o( dw do<wnoDI "11)' ba -by *b
pany, lq)ll"Wly, Uld when ..-;bt4ffY bu ouc,aed.i copy ttunot. such copiat :.&ken :o,ocher sb3.I I bo a.eemcd to be
I !ull 111d am,pk1o ooolrlet betwN• II,, pllti,,L
:72/s:a:
o ... oflluyar•, Sipauuc: W,,3 ,,,..
IJlll or Buyer'S 3tp.uurc:: ______ _
Ruy,n '• _, 1000 s......,.i l>aoto.ay, inalewood. CO 101 10
BU)"''I Ttl<phoDC No: .i#e• 7,,2-£8!'
J.>lJ -~-,7-?,:.;, 0
Selk:,:
6111!0 olOpll P. Hcri,e,uoo, &.:wed
Bv: t>ece45€,,0
,....~..;... (DID)
l\ecorea
Al..bq -IJM t1 Lo7
Seller's Tci,pbca:No : 5<' S: • )1:3 "d h' I 7_ Selic,', Fax No:~
Ne.~.CONTIIACTTOWVA.'IIISltLL IUAl.rsrATl l VAc»rrLA.'D ·PAJ<M -KAl'Cll)P..,1,1~ •