Resolution 2000-31 - Laserfiche WebLink

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AGREEMENT TO EXCHANGE RECIPROCAL CONSERVATION EASEMENTS THIS AGREEMENT ("Agreement") is made and entered into this day of , 2000, by and between the City of Louisville, a Colorado municipal corporation duly organized and existing under and by virtue of the laws of the State of Colorado, hereinafter referred to as "City," and the COUNTY OF BOULDER, a body corporate and politic, hereinafter referred to as "County." WHEREAS, City and County entered into a purchase agreement with Bowes Properties Limited Partnership, a Colorado limited partnership (hereinafter "Bowes") dated (hereinafter referred to as the "Contract"). Pursuant to the terms of the Contract, the City and County will purchase a parcel of land and certain water rights, as tenants in common. Said parcel of land contains approximately 66 acres and is identified in the Contract, and in this Agreement, as "Parcel 1." Parcel 1 is legally described in the Contract in Exhibit A-1 and is legally described in this Agreement on Exhibit A. Said water rights are referred to in paragraph C of the Contract and in this Agreement as the "Water Rights" and are described more fully in Exhibit A; and WHEREAS, the City and County desire to set forth their agreement concerning allocation of the purchase price under the Contract and the conveyance of reciprocal conservation easements over Parcel 1 upon the closing of the purchase under the Contract. NOW, THEREFORE, in consideration of the recitals, promises, covenants, and undertakings hereinafter set forth, the City and County agree as follows: 1. With respect to the purchases from Bowes to be made under the Contract, the City and County agree that the City only shall pay that portion of the purchase price attributable to Parcel 2, at the rate of $27,000.00 per acre. The City and County shall each pay one-half of the purchase price attributable to Parcel 1. County shall pay the earnest money to Bowes, which shall be credited against County's share of the purchase price for Parcel 1. The amounts to be paid by each party shall be based on the actual surveyed acreage of Parcel 1 and Parcel 2. 2. Upon closing of the Contract, the City shall deliver to the County, and the County shall deliver to the City, good and sufficient deeds of conservation easement in gross, properly executed and acknowledged, conveying reciprocal conservation easements to each other covering each entity's undivided one-half interest in Parcel 1 and the Water Rights. The deeds of