Resolution 2015-48 - Laserfiche WebLink

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PURCHASE AND_SALE_AGREEMENT „Hi P CHASE AND SALE AGREEMENT (this "Agreement ") is made as of the /`I" day of Gs: 2015 (the "Effective Date "), by and between FRONT STREET VENTURES, LLC, a Colorado limited liability company ( "Purchaser "), and CITY OF LOUISVILLE, COLORADO, a Colorado home rule municipal corporation ( "Seller "). RECITALS A. Seller owns those certain parcels or tracts of land described on Exhibit A attached hereto and by this reference incorporated herein containing in aggregate approximately 14,000 square feet of land, with a 5,800 square foot building upon the land. B. Seller desires to sell to Purchaser, and Purchaser desires to purchase from Seller, upon the terms and subject to the conditions of this Agreement, such land, as described on Exhibit A (as further defined herein below the "Land "). COVENANTS IN CONSIDERATION of the foregoing and the mutual agreements herein, the parties hereto agree as follows: ARTICLE 1. PURCHASE AND SALE 1.1 Purchase and Sale. Subject to the terms and conditions of this Agreement, Seller agrees to sell and convey and Purchaser agrees to purchase and pay for the following described property: (a) The Land together with all estates, rights, hereditaments, easements and rights of way appurtenant thereto; (b) all right, title and interest of Seller, if any, in and to any oil, gas and other minerals laying under the Land; (c) Seller's interest, if any, in all permits, construction plans, studies, analysis, governmental approvals, development rights, utility rights (including any rights to water and sewer taps) and similar rights related to the Land, whether granted by governmental authorities or private persons and (d) the contracts and agreements related to the Property that Purchaser elects to assume ( "Contracts ") (collectively, the "Property"). 1.2 Purchase Price. The purchase price ( "Purchase Price ") for the Property is One Million Two Hundred Thousand and 00 /100 Dollars ($1,200,000.00), and shall be payable as follows: 1.2.1 Sixty Thousand Dollars ($60,000.00) (the "Deposit ") shall be paid by Purchaser to Land Title Guarantee Company, Water Street Building, 2595 Canyon Blvd, Boulder, CO 80302 (the "Title Company ") in cash or by certified or wire transfer funds within three (3) business days following the Effective Date. 1.2.2 The balance of the Purchase Price, shall be paid by Purchaser at the closing of the purchase and sale provided for in Article 5 (the "Closing ") by bank cashier's check or certified check made payable to Seller or by wire transfer of federal funds to an account designated by Seller.