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RESOLUTION NO. 55 SERIES 2001 A RESOLUTION APPROVING A PURCHASE CONTRACT TO BUY AND SELL VACANT REAL ESTATE AND AN AGREEMENT TO EXCHANGE RECIPROCAL CONSERVATION EASEMENTS WHEREAS, the City of Louisville, City of Lafayette and County of Boulder desire to purchase for open space purposes title to approximately 55.34 acres lying between Empire Road and Coal Creek and northwest of the intersection of Empire Road and South 104th Street (the "Property"); and WHEREAS, the owner of the Property, Fingru AG, Inc., has stated its desire to sell the Property to Louisville, Lafayette and Boulder County upon the terms and conditions of a mutually- agreeable purchase contract; and WHEREAS, a Purchase Agreement has been proposed with Fingru AG, Inc. for purchase of the Property; and WHEREAS, an Agreement to Exchange Reciprocal Conservation Easements has been proposed among Louisville, Lafayette and Boulder County regarding the allocation of the purchase price for the Property, the exchange of reciprocal conservation easements over the Property, and related matters. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: 1. The proposed Purchase Agreement among the City of Louisville, City of Lafayette, County of Boulder and Fingru AG, Inc. regarding the Property is hereby approved in essentially the same form as the copy of such Purchase Agreement accompanying this Resolution. 2. The proposed Agreement to Exchange Reciprocal Conservation Easements ("Exchange Agreement") among the City of Louisville, City of Lafayette and County of Boulder related to the acquisition of the Property is hereby approved in essentially the same form as the copy of such Exchange Agreement accompanying this Resolution. 3. The Mayor is authorized to execute the Purchase Agreement and Exchange Agreement, except that the Mayor is hereby granted the authority to negotiate and approve such revisions to said Agreements as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Agreements are not altered. 4. The Mayor, City Administrator and City Staff are further authorized to do all things necessary on behalf of the City to perform the obligations of the City under the Purchase Agreement and Exchange Agreement, and are further authorized to execute and deliver any and all documents necessary to effect the purchase of the Property under the terms and conditions of said Purchase Agreement and to perform and implement the terms and conditions of the Exchange Agreement.