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RESOLUTION NO. 8 <br />SERIES 1998 <br /> <br />A RESOLUTION APPROVING AN AGREEMENT TO EXCHANGE REAL ESTATE <br /> <br /> WHEREAS, the City is the owner of certain real property <br />consisting of the northeast one-quarter of the vacated right-of-way <br />for 80th Street lying between Dillon Road and U.S. 36, as more <br />particularly described in Exhibit A to the attached Agreement to <br />Exchange Real Estate (the "City Parcel"); and <br /> <br /> WHEREAS, Colony Square, LLC, a California Limited Liability <br />Company, is the owner of certain real property consisting of the <br />southwest one-quarter of the vacated right-of-way for 80th Street <br />lying between Dillon Road and U.S. 36, as more particularly <br />described in Exhibit B to the attached Agreement to Exchange Real <br />Estate (the "Colony Square Parcel"); and <br /> <br /> WHEREAS, Colony Square desires to obtain the City Parcel, and <br />the City is willing to convey the City Parcel to Colony Square in <br />exchange for the Colony Square Parcel and upon other terms and <br />conditions described in a mutually-agreeable exchange agreement. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OFT HE CITY <br />OF LOUISVILLE, COLORADO: <br /> <br /> 1. The proposed Agreement to Exchange Real Estate between <br />the City of Louisville and Colony Square, LLC, regarding the <br />exchange of the City Parcel and the Colony Square Parcel is hereby <br />approved in essentially the same form as the copy of such Agreement <br />to Exchange Real Estate accompanying this Resolution. <br /> <br /> 2. The Mayor is authorized to execute the Agreement to <br />Exchange Real Estate, except that the Mayor is hereby granted the <br />authority to negotiate and approve such revisions to said Agreement <br />as the Mayor determines are necessary or desirable for the <br />protection of the City, so long as the essential terms and <br />conditions of the Agreement are not altered. <br /> <br /> 3. The Mayor, City Clerk, City Administrator and City staff <br />are further authorized to do all things necessary on behalf of the <br />City to perform the obligations of the City under the Agreement to <br />Exchange Real Estate, and to execute and deliver any and all <br />documents necessary to effect the exchange of the City Parcel for <br />the Colony Square Parcel under the terms and conditions of the <br />Agreement. <br /> <br /> PASSED AND ADOPTED this day of~ // , 1998. <br /> <br /> 1 T°mTds°~May°r <br /> <br /> <br />