HomeMy WebLinkAbout1982 Resolution No. 003RESOLUTION NO. 0
SERIES OF 1982
A RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY.
WHEREAS, the City of Englewood desires to purchase real
property located at 3455 South Broadway for municipal purposes;
and
WHEREAS, the owner of said property is desirous of. selling
said property to the City of Englewood.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ENGLEWOOD, COLORADO:
Section 1. City staff is authorized to execute those documents
necessary to acquire the property hereafter described according
to the terms and conditions of the Receipt and Option Contract
attached hereto as Exhibit A and incorporated herein by reference:
Attest:
Lots 35 and 36, Block 1,
Englewood Addition,
County of Arapahoe,
State of Colorado.
ADOPTED AND APPROVED this 18th day of January, 1982.
~~~~ exof116'c1 ~ erk-Treasurer
I, Gary R. Higbee, ex officio City Clerk-Treasurer of the
City of Englewood, Colorado, hereby certify that the foregoing
is a true, accurate and complete copy of Resolution No. J ,
Series of 1982.
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RECE I PT ANO OPTIO N CO NTRACT
RECE I VEO from the City of Englewood, Colorado, Purchaser, the sum
of $1,0 00.0 0, i n the farm of a City of Englewood check,.to be held by
lnildred Fu o~·t, in escrow, as earnest money and part payment for the
follo wi n r o escribed real estate situate in the County of Arapahoe,
Stat ~ Colorado, to-witz
lots 35 and 36, Slack 1,
(ng lewaad Addition.
with all easeme n ts a nd rights of way appurtenant thereto, all improve-
ments thereo n and all fixtures of a permanent nature currently on the
premises except as hereinafter provided, in their present condition,
ordi nary wear and tear excepted, known as 3455 South Broadway, which
property purchaser agrees to buy upon the following terms and conditions,
for the p urchase price of .~75,000.00, certified funds, payable as follows:
~1,000.00 hereby receipted for, $74,000.00 payable
on or before February 1, 1982 ,
1. Price to include property in its current condition, no warranty
expressed or implied as to the structur~l stability of any portion
thereof. City to be responsible to filling in property or meeting any
s afety requireme n ts.
2, Pu rcha ser shall obtain and pay for commitment for title insurance.
3. Title shall be merchantable in seller. Subject to payment or
te n der as above provided and complian ce with the other terms and
conditions hereunder by purchaser, the seller shall execute and deliver
a good a nd sufficient g e neral warranty deed to said purchaser on or
b efore February 1, 19A2, or, by mutual a ~reement, at an earlier date,
conveying said property free and clear of all taxes except the general
taxes fo r 1981, d ue and payable January 1, 1982, and liens for special
i mprov emen ts no w i ~stalled, and assessed in the amount of $8,310, shall
be pa id by the City of En g lewood from purchase price, and subject to
b uilding and zo n ing regulations.
4 . General taxes far 1981 shall be apportioned to date of delivery
of d e ed based o n the most recent levy and the most recent assessment.
Pe rso na l prope rty taxes, FHA mortgag e i n surance premiums shall be
a p portioned to d ate of delivery of deed.
~. Th e hour and place of closi ng shall be as designated uy purchaser.
6 . Posses sion of premises shall be delivered to purchaser on closing
s u bject to the following leases or tenancies --none, free and clear of
all l e ases or te n ancies,
I f the seller fails to deliver possession on the date herein specified,
the seller shall be subject to eviction and shall be liable for a
daily rental of iS400 until possession is delivered.
,, .
?. Time is of the essence hereof, and if any payment or any other
condition hereof is not made, tendered or performed as herein provided,
there shall be the following remedies. In the event a payment or any
other condition hereof is not made, tendered or performed by the
purchaser, then this contract shall be null and void and of no effect,
and both parties hereto released from all obligations hereunder, and
all payments made hereon shall be retained on behalf of the seller as
liquidated damages. In the event that the seller fails to perform a ny
condition hereof as provided here in , then the purchaser may, at its
election, treat the contract as termin ;ated, and all payme n ts made here-
under shall be returned to the purchaser; provided, however, that the
purchaser may, at its election, treat this contract as being in full
force and effect with the right to an action for specific performance
and damages.
8. In the event the purchaser fails to approve this instrument
in writing on or before January 20, 1982, or if title is not merchantable
and written notice of defects is gi ven to the purchaser or agent with in
the time herein provided for delivery of deed and shall not be rendered
merchantable within 90 days after such written notice, then this
contract, at purchaser's option, shall be void and of no effect and
each party hereto shall be released from all obligatio ns hereu n der a nd
the payments made hereunder shall be returned forthwith to purchaser
upon receipt of the abstract, if any, to seller; provided, however,
that in lieu of correcting such defects, purchaser may, within said
90 days, obtain a commitment for Owner's Title Insurance Policy in the
amount of the purchase price showing the title to be free and from such
defects.
~ '7n. C ..9,
9. Upon approval hereof by the seller, this a g reeme n t shall become
a contract between seller and purchaser an d shall inu re to the benefit
of the heirs, successors and assi gn s of said parties.
CITY OF ENGLEWOOD, COLORADO
Purchaser
BY ___ __,.__,,,,_., ___ .....,._....-___ _
Andy Mcc own, City manager
19132.
Seller approves the above