Ordinance 2015-1698 - Laserfiche WebLink

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Section 1. The City Council hereby approves the sale and conveyance from the City to Front Street Ventures, LLC and/or assigns (the "Purchaser") of the Property legally described as Lots 1 and 2, Block 4, Town of Louisville, County of Boulder, State of Colorado and having a street address of 637 Front Street, for a purchase price of $1,200,000. Section 2. The sale and conveyance of Property shall be upon the terms and conditions set forth in that certain Contract to Buy and Sell Real Estate ("Purchase Contract") between the City and the Purchaser, which Purchase Contract was approved by City Council Resolution No. 4/4 Series 2015, and which terms and conditions are incorporated herein by reference as though set forth in full. Section 3. The City Council hereby approves the Parking Lease Agreement and the Revocable License Agreement that are proposed in connection with the sale of the Property, in the forms of such Agreements as accompany the Purchase Contract. Section 4. The Mayor, City Manager or either of them is authorized to execute such Purchase Contract and, at closing, to execute the Parking Lease Agreement and Revocable License Agreement, and are hereby further granted the authority to negotiate and approve such revisions to said Purchase Contract, Parking Lease Agreement and Revocable License Agreement as the Mayor or City Manager determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Purchase Contract are not altered. Section 5. The Mayor, City Manager or either of them, as well as the City Clerk and City Staff are further authorized to execute and deliver all documents necessary in connection with the sale of the Property and to do all things necessary on behalf of the City to perform the obligations of the City under such Purchase Contract, including without limitation the execution and delivery of the Parking Lease Agreement, the Revocable License Agreement, and all other documents necessary or required by the title company in connection with the sale of the Property. Section 6. If any portion of this ordinance is held to be invalid for any reason, such decisions shall not affect the validity of the remaining portions of this ordinance. The City Council hereby declares that it would have passed this ordinance and each part hereof irrespective of the fact that any one part be declared invalid. Ordinance No. 1698, Series 2015 Page 2 of 3