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CONTRACT TO EXCHANGE REAL ESTATE
<br />3 rdTHIS it CONTRACT is made and entered into this
<br />day of , 2017, by and between the City of Louisville, a Colorado
<br />home rule municipal corporate , hereinafter referred to as "City", and 608 Studios, LLC, a
<br />Colorado limited liability company, hereinafter referred to as "608 Studios".
<br />WHEREAS, 608 Studios is the owner of certain real property located at 608 Main Street,
<br />Louisville, Colorado, a portion of which (the "Retained Property") is to be retained by 608 Studios,
<br />and a portion of which, as more particularly described below, is the subject of the proposed
<br />exchange under this Contract, which property is referred to below as the "608 Studios Property";
<br />WHEREAS, the City is the owner of certain real property located at 612 and 624 Main
<br />Street, Louisville, Colorado, which real property is more particularly described herein and is
<br />referred to below as the "City's Property";
<br />WHEREAS, the City desires to sell to 608 Studios, and 608 Studios desires to purchase
<br />from the City, the City's Property in exchange for the 608 Studios Property;
<br />WHEREAS, 608 Studios desires to sell to the City, and the City desires to purchase from
<br />608 Studios, the 608 Studios Property in exchange for the City's Property, with 608 Studios
<br />retaining all of its nght, title, and interest in and to the Retained Property,
<br />WHEREAS, 608 Studios intends to develop the City's Property and the Retained Property
<br />as a single parcel subject to a single PUD acceptable to 608 Studios in its discretion;
<br />NOW, THEREFORE, for and in consideration of the promises, payment, covenants, and
<br />undertakings hereinafter set forth, and other good and valuable consideration, which is hereby
<br />acknowledged and receipted for, the City and 608 Studios agree as follows:
<br />PROPERTY AND PURCHASE PRICE
<br />1. City hereby agrees to purchase, and 608 Studios agrees to sell, on the terms and
<br />conditions set forth in this Contract, the following described real property and interests in real estate,
<br />hereinafter collectively referred to as the "608 Studios' Property", located in the County of Boulder,
<br />City of Louisville, Colorado, to wit:
<br />Approximately the easterly 105 feet of Lot 8, Block 4, Town of Louisville,
<br />Colorado, totaling approximately 4,900 square feet.
<br />2. 608 Studios hereby agrees to purchase, and City agrees to sell, on the terms and
<br />conditions set forth in this Contract, the following described real property and interests in real estate,
<br />hereinafter collectively referred to as the "City's Property", located in the County of Boulder, City
<br />of Louisville, Colorado, to wit:
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