Resolution 2025-75 - 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 O('Al) Ie/(2025 (the "Effective Date"), by and between MARIKE FITZGERALD and GREGORY FITZGERALD. (collectively, "Purchaser") and the CITY OF LOUISVILLE, a Colorado home rule municipal corporation ("Seller" or "City"). Purchaser and Seller are collectively referred to as the "Parties." WHEREAS, the City owns that certain real property and improvements located at Lot 10, Block 17, Caledonia Place, City of Louisville, County of Boulder, State of Colorado, also known as 1016 Main Street (the "Property"); and WHEREAS, Purchaser desires to purchase the Property from the City; and WHEREAS, the City is willing to sell the Property to Purchaser on the condition that the house located on the Property is first designated as a historic landmark by the City and a Historic Landmark Agreement is executed and recorded as a covenant running with the Property. 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. Subject to the terms and conditions of this Contract, the Purchaser hereby agrees to purchase, and Seller agrees to sell, the following described property and interests in real estate (collectively referred to as the "Property"): 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 Purchaser in cash, certified funds, wire transfer, or cashier's check (if acceptable as "good funds" under Colorado law) as follows: a. Five Thousand Dollars ($5,000.00) (the "Earnest Money") shall be paid by Purchaser to First American Title Company, 636 Coffman Street, Suite 101, Longmont, CO 80501 (the "Title Company") within three (3) business days following the Effective Date. b. The balance of the Purchase Price shall be paid by Purchaser at the closing of the purchase and sale provided for in Section 9 (the "Closing"). 1