Resolution 2025-55 - Laserfiche WebLink

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PURCHASE CONTRACT TO BUY AND SELL REAL ESTATE THIS CONTRACT is made and entered into this _1 day of , 2025, by and between the CITY OF LOUISVILLE, a Colorado home rule municipal cor oration (the "City") and TWSS MAIN LLC, a Colorado limited liability company (the "S 1 r"). NOW, THEREFORE, for and in consideration of the promises, payment, covenants, and undertakings hereinafter set forth, and other good and valuable consideration, which is hereby acknowledged and receipted for, the City and Seller agree as follows: 1. Sale of Property. The City hereby agrees to purchase, and Seller agrees to sell, on the terms and conditions set forth in this Contract, the following described property and interests in real estate (collectively referred to as the "Property"): a. Lot 10, Block 17, Caledonia Place, City of Louisville, County of Boulder, State of Colorado, also known as 1016 Main Street, together with all easements and other appurtenances thereto; all oil, gas, and other minerals owned by Seller and appurtenant thereto; and all improvements, fixtures and structures thereon at the time of delivery of possession to the City. 2. Purchase Price. The total purchase price of the Property (the "Purchase Price") shall be ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1,400,000.00), which shall be payable by the City in cash, certified funds, wire transfer or City check (if acceptable as "good funds" under Colorado law) as follows: a. Upon execution of this Contract, FIVE THOUSAND DOLLARS ($5,000.00) as earnest money deposit and part payment of the Purchase Price (the "Earnest Money") to be held in escrow and applied to the total purchase price. b. The balance of the Purchase Price to be paid to Seller at Closing (defined in Paragraph 8, below). 3. Documents to be Obtained by or Delivered to City. a. Within ten (10) days of Seller's execution of this Contract, Seller shall provide to the City copies of all engineering and/or survey work, reports and surveys for the Property in possession of Seller. b. Within ten (10) days of Seller's execution of this Contract, Seller shall furnish to the City, at Seller's expense, a current ALTA form title insurance commitment insuring the City's ownership of a fee simple interest in the Property. The commitment shall be issued by a title insurance company which maintains an office in Boulder County and which is authorized to do business in the State of Colorado, to insure the City's ownership of the Property in an amount equal to the 1