HomeMy WebLinkAbout1981 Resolution No. 063'
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IS80LUTI<* llO. ~, aaIU or ltll
A alOurria. AUTJl>RIIIllG PURCBASB or UAL PROPBRTY.
WlllSAa, the City of Sn9lewood 4eairea to purchase real
property located at 3455 South Broadway for municipal purposes~
and
Wll~, the owner of aaid property i• deairoua of
Mllin9 aaid property to the City of Bnglewood.
90lf, TllRUOD, D IT R880LVBD BY '1'D CITY COUNCIL OP THE
Clft °' mGLlllOOD, COLODD01
leotiOD 1.
City ataff ia autboriaec! to execute thoae documents neces-
•ary to acquire the property hereafter deacribed for a smn up to
and including leventy Thouaand Dollar• ($70,000):
leetion 2.
Lota 35 and 36, Block 1,
Dl9lewood Addition,
county of Arapahoe,
ltate of Colorado.
Condition• of purchaae are:
a) Independent appraiaal of the property ahall be obtained
to verify value of property.
b) City aball purcha.. property free and clear of encumb~ances
and lea .. a, if any.
c) rora of a9re1••nt for purchaae ahall generally be as
attached in lbchibit A, Receipt and Option Contract.
ADOllSD AIU> ~PROVSD thi• 2lat day of December, 1981.
~mifilii L. Otia, Mayor
Atteata ,
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RBCBIPT ARD OPTION CONTRACT
119CSIVSD froa the City of Bn9lewood, Colorado, Purchaser, the sum
of •1,000,in tbe form of a City of Bn9lewood check, to be held by
llildred Pl19att, in ••crow, aa earneat 110ney and part payment for the
followia9 deacribed real ••tate aituate in the County of Arapahoe,
State of Colorado, to wit:
Lota 35 and 36, Block 1,
Sn9lewood Addition.
with all eaa1a1nu and ri9bt• of way appurtenant thereto, all improve-
llellU tbereon and all f ixtur•• of a peraanent nature currently on the
preai .. a except aa hereinafter provided, in their preaent condition,
ordinary war and tear excepted, known aa 3455 South Broadway, which
property purcbaaer agr••• to buy upon the following terms and conditions,
for tbe purcbaee price of •61,310, certified funds, payable as follows:
•1,000 hereby receipted for, $67,310 payable
on or before January 31, 1912.
1. •rice to include property in it• current condition, no warranty
expreaaed or illplied aa to the atructural atability of any portion
thereof. City to be reaponaible to filling in property or meeting any
aafety requiremanta.
2. PurcbaMr •ball obtain and pay for conaitlnent for title insur-
ance. ,,.
J. Title eball be -rcbant.able in Mller. Subject to payment or
tender ae aboYe provided and ocmpliance with the other terms and
condition• hereunder by purcbaMr, the nller shall execute and deliver
a CJ004 and auf f icient general warranty deed to said purchaser on or
before January Jl, 1112, or, by autual agreement, at an earlier date,
CODY97in9 .. id property fr.. and clear of all taxes except the general
taxe• for 1111, due and payable January 1, 1982, and liens for .special
1Jll»rov1m1nta now iaatalled, and a•M•Md in the ..:>unt of $8,310, shall
be paid by tbe City of b9lewood frc:m purcbaae price, and subject to
building and aonin9 regulation•.
t. General tm• for ltll .Ull be apportioned to date of delivery
~f deed ba••d OD tbe 110at recent levy and tbe 110at recent aaaesament •
.. r80Dal property taxea, PllA 110rt9a9e inaurance premiums shall be
apportioned to date of delivery of deed.
5. The hour and place of cloaing aball be aa deaignated by purchaser.
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I. Po• .. ••ion of preai•e• shall be delivered to purchaser on closing
•ubject to tbe following leaaea or tenancies --none, free and clear of
all lea .. • or tenanci••·
If tbe .. 11er fail• to deliver poa .. aaion on the date herein specified,
tbe .. i1er •ball be •ubject to eviction and •hall be liable for a
daily rental of •too until po•••••ion i• delivered.
7. Tim 1• of tbe •• .. nee hereof, and if any payment or any other
coa4ition bereof 1• not ...Se, tendered or performed aa herein provided,
ti.re 8ball be tbe following r-41••· In the event a payment or any
otber condition hereof i• not -•, tendered or performed by the
purcba .. r, tben tbi• contract ahall be null and void and of no effect,
and t.otb parti•• bereto relea8ed f ·rOll all obligation• hereunder, and
all paJWIDU m..S. hereon •ball be retained on behalf of the seller as
liquidated d••99•· In ti. event that the Hller fails to perform any
COD4ition bereof a• provided herein, then the purchaser may, at its
el~on, treat tbe contract a• terainated, and all payment• made here-
under 8ba11 be returned to tbe purcha•er; provided, however, that the
puroba8er .. y, at it• election, treat thi• contract •• being in full
force and effect with tbe right to an action for specific performance
and 4e•CJ9•·
I. In tbe event the purchaHr fail• to approve this instrument
in vritin9 on or before January 1, 1912, or if title ia not merchantable
and written notice of defect• i• given to the purchaHr or agent within
tbe time herein provided for delivery of deed and •hall not be rendered
•rcbantable within 90 day• after auch written notice, then this
contract, at purcba .. r'• option, •hall be void and of no effect and
eacb party bento 8ba11 be relea .. d froa all obligations hereunder and
tb9 payment• =ede b9reunder ahall be returned forthwith to purchaser
upon receipt of the abatract, if any, to .. 11er; provided, however,
that in lieu of correcting aucb defecta, purchaaer may, within said
10 day•, obtain a cc itllent for OWner'• Title Inaurance Policy in the
amount of the purcba .. price •bowing the title to be free from such
defect•.
t. Upon approval hereof by the aeller, thi• agreement shall become
a contract between ••ller and purchaHr and shall inure to the benefit
of tbe heir•, •ucce•80ra and aaaigna of aaid parties.
CUT or ._L81R>OD, COLOMDO
Purcba .. r
~ -.xn~ay~-ICC~~ow~m~-,-c .... lrEy~liD~~a~g~e~r~---
Seller
IU.ldred Fugatt
leller approve• the above contract thi• day of ,
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