Resolution 1998-08 - Laserfiche WebLink

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AGREEMENT TO EXCHANGE REAL ESTATE THIS AGREEMENT TO EXCHANGE REAL ESTATE is made and entered into this __ day of , 1998, by and between the City of Louisville, a municipal corporation duly organized and existing under and by virtue of the laws of the State of Colorado, hereinafter referred to as "City", and Colony Square, LLC, a California Limited Liability Company, hereinafter referred to as "Colony Square." WHEREAS, the City is the owner of certain real property described in Exhibit A, attached hereto and incorporated herein by reference (hereinafter referred to as the "City Parcel"); and WHEREAS, Colony Square is the owner of certain real property described in Exhibit B, attached hereto and incorporated herein by reference (hereinafter referred to as the "Colony Square Parcel"); and WHEREAS, Colony Square desires to obtain the City Parcel, and the City is willing to convey the City Parcel to Colony Square in exchange for the Colony Square Parcel and additional consideration as set forth herein; and WHEREAS, the parties desire to effect such exchange upon the terms and for the conditions contained in this Agreement. NOW, THEREFORE, for and in consideration of the promises, payment, covenants, and undertakings hereinafter set forth, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the City and Colony Square,agree as follows: 1. Terms of Exchanqe. The City hereby agrees to convey by special warranty deed to Colony Square the City Parcel in exchange for the following: (a) Colony Square's conveyance by special warranty deed to the City of the Colony Square Parcel; (b) Payment from Colony Square in the amount of Twelve Thousand Five Hundred Dollars ($12,500.00), payable at closing in cash or certified funds; (c) Colony Square's removal, at its sole cost and expense, of all asphalt and road base located upon the Colony Square Parcel and the City Parcel, which removal shall be completed according to the provisions of Paragraph 14, below. 2. No Assiqnment. Neither the City nor Colony Square shall assign its rights and obligations hereunder without the prior written consent of the other party, which consent shall not be unreasonably withheld.