HomeMy WebLinkAboutresolution.council.038-85RESOLUTION NO. 38
(Series of 1985)
A RESOLUTION AUTHORIZING THE TERMINATION OF THAT NET GROUND LEASE,
DATED MAY 12, 1981, BETWEEN THE CITY OF ASPEN (AS LESSOR) AND
DAVID MOSS (AS LESSEE), PERTAINING TO LOTS K, L, M, N, AND THE
WESTERN ONE-HALF (W 1/2) OF LOT O, ALL LYING WITHIN BLOCK 58, CITY
AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO
WHEREAS, the City, as Lessor, has entered into that Net
Ground Lease, dated May 12, 1981, with David Moss, as Lessee,
pertaining to Lots K, L, M, N, and the western one-half (W 1/2) of
Lot O, all lying within Block 58, City and Townsite of Aspen,
Pitkin County, Colorado; and
WHEREAS, Paragraph 1 of the lease agreement provides as fol-
lows:
"1. Term. The term of the Lease shall be seventy-five (75)
years from the date of this Lease unless sooner terminated as
hereinafter provided. This Lease may be terminated by either
party upon one hundred twenty (120) days' written notice to the
other party at the address provided herein. On the date of ter-
mination of this Lease in accordance with this Paragraph 1,
neither party shall have any further obligation to the other here-
under.
(a) In the event Lessor elects to terminate this Lease,
Lessor shall on the date such termination becomes effec ive
tender to Lessee or its nominee a quit claim deed conveying
the ownership of the Leased Premises to Lessee or Lessee's
nominee upon receipt of all payments due or liability
incurred under this Lease, including payment of two (2)
years' basic rent; provided, however, that Lessor warrants
that it will not permit any liens or encumbrances to be filed
against the Leased Premises during the term of this Lease,
and any such lien or encumbrance, if filed, shall be subord-
inate to Lessee's prior lien under this Lease to terminate
and receive back the Leased Premises free and clear of all
such liens and encumbrances.
(b) In the event Lessee elects to terminate this Lease,
Lessee shall be entitled to receive from Lessor the above-
mentioned deed upon payment to Lessor of an amount equal to
will no
3.
current.
two (2 years' basic rent for the Leased Premises. Lessee
may only terminate this Lease with the written consent of any
holder of a leasehold mortgage as defined herein.
(c) Upon termination of this Lease by either party the
other party shall, upon request, be entitled to have the
appropriate releases executed in accordance with Paragraph
19.2 of this Lease."
WHEREAS, the City Council is informed that the rights of
David Moss in said lease have been foreclosed by the Federal
Savings and Loan Association of Newton, Kansas, as a result of
that deed of trust dated January 27, 1982, recorded in Book 420
Page 612, Pitkin County Clerk and Recorder's Office; and
WHEREAS, Federal Savings and Loan Association of Newton,
Kansas, as the successor in interest to David Moss pursuant to
said lease, has proposed that the lease be terminated upon the
happening of the following conditions:
1. Reconveyance of the aforesaid real estate upon payment
by Federal Savings and Loan Association of Newton, Kansas, in the
amount of $24,000.00; and
2. Reduction of the distance requirements set forth in Sec-
tion 12-47-138(d), C.R.S., such that a liquor license can be
issued for the subject property, notwithstanding the fact that it
longer be owned by a municipality.
All outstanding liens, rents or other charges be paid
WHEREAS, the City Council desires to approve the termination
of the aforesaid lease on the terms and conditions set forth
above.
NOW, THEREFORE, BE
CITY OF ASPEN, COLORADO:
That the termination
IT RESOLVED BY THE CITY COUNCIL OF THE
of the aforesaid lease agreement between
the City of Aspen, as lessor, and David Moss, as lessee, dated May
12, 1981, which lease has been properly succeeded to by First
Federal Savings and Loan of Newton, Kansas, shall be terminated
and the Mayor shall be and hereby is authorized to execute a quit
claim deed to Lots K, L, M, N, and the western one-half (W 1/2) of
Lot O, Block 58, City and Townsite of Aspen, Pitkin County, Colo-
rado, upon the following conditions:
1. Payment to the City by First Federal Savings and Loan of
Newton, Kansas, in the amount of $24,000.00;
2. All outstanding rents, liens, and charges be brought
current.
The termination shall become effective upon the adoption on
of Ordinance No. ~ reducing the applicable dis-
second
reading
tance requirement set forth in Section 12-47-138, C.R.S. from five
hundred (500) feet to (/~) feet, such that any estab-
lishment in the aforesaid premises may operate, notwithstanding
the fact that the property will no longer be municipally owned.
Dated:
3
I, Kathryn S. Koch, duly appointed and acting City Clerk do
certify that the foregoing is a true and accurate copy of that
resolution adopted by the City Council of the City of Aspen,
Colorado, at a meeting held on OC~>~-~/ /'~.. , 1985.
Kathryn ~ Koch, City Clerk