Resolution 2016-73 - Laserfiche WebLink

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Approximately the westerly 45 feet of Lots 9-10, Block 4, Town of Louisville, Colorado, excepting a portion of land described as follows: Commencing at the northwest corner of said Lot 10, thence north 89° 11'06" east, along the north line of said Lot 10, a distance of 8.60 feet to a point on a west building face of an existing building and the Point of Beginning; thence continuing north 89° 11'06" east, along the north line of said Lot 10, a distance of 75.50 feet to a point on an east building face of said building; thence south 00° 52'31" east, along said east face of said building, a distance of 1.46 feet to the southeast corner of the said building; thence south 89° 07'29" west, along the south face line of the said building, a distance of 75.50 feet to the south west corner of the said building; thence north 00° 52'31" west, along a west face line of said building, a distance of 1.54 feet to the Point of Beginning. totaling approximately 4,147 square feet. Within five (5) days of the parties' mutual execution of this Contract, 608 Studios and City shall provide each other copies of any engineering, survey work, Improvement Survey Plat (ISP) or any environmental reports or documentation for the Property in such Party's possession. City or 608 Studios may at its sole expense contract for an ALTA engineering survey of the 608 Studios' Property or City's Property, sufficient to satisfy the requirements of the Title Company to delete the standard pre-printed exceptions from the title policy, as set forth in Paragraphs 5 and 6, below. The survey shall be certified by the surveyor to the City, 608 Studios and the Title Company. Each such survey must be acceptable to the City and 608 Studios in its sole discretion. If City or 608 Studios does not notify the other in writing at least thirty (30) days prior to closing that the survey is unacceptable, then the survey shall be deemed acceptable. The surveyed legal descriptions for the Property shall be appended to this Agreement once prepared. City or 608 Studios may require that at closing convey the Property by either or both of the legal descriptions contained in the title commitment or in the final survey. 3. This contract is for an exchange of parcels of real estate of that the Parties agree are of equal value. Due to the nature of the exchange transaction, by and between 608 Studios and the City as described herein, each of the respective Parties (at different times and with respect to the different property currently owned or controlled by each Party) will be acting as both a seller and purchaser during the course and term of the Agreement. As a result, each of City and 608 Studios may herein be generically referred to as Seller or Purchaser in those portions of the Agreement where the applicable obligations of each Party are the same depending on whether such Party is at that time, acting in the stated capacity as a seller or a purchaser of the applicable property. NO ASSIGNMENT 4. 608 Studios shall not assign 608 Studios' rights and obligations hereunder without City's prior written consent, except that 608 Studios may assign its rights and obligations hereunder to another entity controlled by Eric D. Fowles. City shall not assign City's rights and obligations hereunder without 608 Studios' prior written consent. 2