Resolution 1999-26 - Laserfiche WebLink

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RELEASE AGREEMENT THIS RELEASE AGREEMENT is made and entered into, and becomes effective as provided in paragraph 8, between the CITY OF LOUISVILLE, a Colorado statutorv city (the "City"), and TRILLIUM CORPORATION, a Washington Corporation ("Trillium"). WHEREAS, Trillium is the owner of certain real property located within the City and legally described in Exhibit A, attached hereto and incorporated herein by reference (the "Property"); and WHEREAS, the Property was annexed to the City pursuant to, and is subject to, that certain Annexation and Zoning Agreement dated as of June 1, 1976, between the City, Mizel Development Corporation, Boulder County Land Venture, and the Colorado & Southern Railway Company (the "Annexation Agreement"), which Annexation Agreement was recorded January 3, 1980, as Reception No. 377414 in the Office of the Boulder County Clerk and Recorder; and WHEREAS, the Property is also subject that certain Agreement dated March 22, 1983, between the City, M.D.C. Corporation, and Boulder County Land Venture (the "Road Agreement"), which Road Agreement was recorded May 13, 1983, as Reception No. 549586 in the Office of the Boulder County Clerk and Recorder; and WHEREAS, in reliance on the Annexation Agreement, the City and Trillium and/or one or more of Trillium's predecessors in title have performed certain obligations contained in the Annexation Agreement, including the City's annexation and zoning of the property subject to the Annexation Agreement, the City's provision of certain municipal services, the assignment to the City of certain water rights described in the Annexation Agreement, and the conveyance to the City of certain land subject to the Annexation Agreement; and WHEREAS, the County of Boulder, Colorado has entered into a purchase contract with Trillium to purchase the Property; and WHEREAS, the City has entered into an intergovernmental Agreement with the County of Boulder to purchase certain interests in the Property; and WHEREAS, as a condition to Trillium's sale of the Property to the County, Trillium has requested the City's written release of Trillium from Trillium's obligations under the Annexation Agreement and the Road Agreement with respect to the Property; and WHEREAS, the City is willing to provide such a written release as set forth herein, in exchange for the release from Trillium as set forth herein. NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City and Trillium agree as follows: 412858.4 JCELLE 05/20999:30 AM