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RESOLUTION NO. 45 <br />SERIES 2013 <br />A RESOLUTION APPROVING AN AGREEMENT OF SALE AND PURCHASE FOR <br />THE CITY'S ACQUISTION OF PROPERTY LEGALLY DESCRIBED AS LOTS 6, 7 <br />AND 12, COLORADO TECHNOLOGICAL CENTER FILING NO. 2, CITY OF <br />LOUISVILLE, BOULDER COUNTY, COLORADO, AND AUTHORIZING CERTAIN <br />ACTIONS IN CONNECTION THEREWITH <br />WHEREAS, the City of Louisville desires to acquire certain real property consisting of <br />approximately 13.32 acres owned by Passco Colorado Tech Industrial, LLC, and legally described <br />as Lots 6, 7 and 12, Colorado Technological Center Filing No. 2, City of Louisville, County of <br />Boulder, State of Colorado (the "Property "); and <br />WHEREAS, the owner of the Property desires to sell the Property to Louisville, and there <br />has been submitted to City Council an Agreement of Sale and Purchase and Joint Escrow <br />Instructions ( "Purchase Contract ") for sale and purchase of the Property upon terms and conditions <br />mutually agreeable to the City and owner; and <br />WHEREAS, the City Council by this Resolution desires to approve the Purchase Contract <br />and approve other actions in connection with the acquisition of the Property; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br />Section 1. That certain Agreement of Sale and Purchase and Joint Escrow Instructions <br />between the City of Louisville and Passco Colorado Tech Industrial, LLC, for the City's acquisition <br />of the Property (the "Purchase Contract "), a copy of which Purchase Contract accompanies this. <br />Resolution, is hereby approved. <br />Section 2. The Mayor and City Manager, or either of them, is authorized to execute the <br />Purchase Contract, except that the Mayor and City Manager are hereby granted the authority to <br />negotiate and approve such revisions to said Purchase Contract as they determine are necessary or <br />desirable for the protection of the City, so long as the essential terms and conditions of the Purchase <br />Contract are not altered. <br />Section 3. The Mayor, City Manager, City Clerk and City Staff are further authorized <br />to do all things necessary on behalf of the City to perform the obligations of the City under the <br />Purchase Contract, and are further authorized to execute and deliver any and all documents <br />necessary to effect the purchase of the Property under the terms and conditions of said Purchase <br />Contract, including but not limited to execution and delivery of closing documents required by the <br />Purchase Contract or the title company in connection with closing. <br />Resolution No. 45, Series 2013 <br />Page 1 of 2 <br />