HomeMy WebLinkAboutresolution.council.097-07RESOLUTION NO.
Series of 2007
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
AUTHORIZING THE PURCHASE OF 38005 HIGHWAY 82, ASPEN, COLORADO.
WHEREAS, there has been submitted to the City Council a Contract to Buy and Sell Real
Estate between the City of Aspen and BMC Holdings Inc. for the sale of property with a legal
description of Lots 1 and 2, Block 1; Aspen Airport Business Center, Filing 1, Pitkin County
Colorado; and
WHEREAS, after due deliberation and consideration the City Council has determined that
it is in the best interest of the City of Aspen to approve said Contract.
NOW, WHEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ASPEN, COLORADO, that the City Manager is hereby authorized to execute on behalf of the City
of Aspen the proposed Contract to Buy and Sell Real Estate between the City of Aspen and BMC
Holdings Inc. for the sale of property with a legal description of Lots 1 and 2, Block 1; Aspen
Airport Business Center, Filing 1, Pitkin County Colorado, and all other documents required to
consummate the proposed transaction.
Dated: /~ ~~ i~~r~Gt~ai ~ ~- > 2007. ~•
Michael C. Ireland, Mayor
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 ~ ~O , 2007.
O
Kathryn S. Koc ,City Clerk
H: \HOUSinq & Properties\bmcprop. doc
Morris ~ Fyrwald Real Estate
~ 415 Easf Hyman Avenue
Aspen, CO 81611
Phone:970-925-6060, Fax:970-925-3138
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The printed portions of this form, except differentiated additions, have been approved by the Colorado Reat Estate Commission.
(CBs 1-10-06) (Mandatory 1-07)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER
COUNSEL BEFORE SIGNING. '
CONTRACT TO BUY AND SELL REAL ESTATE
(ALL TYPES OF PROPERTIES)
Date: nct.,l.e~ 31 ~nm
PnmhasePrice:$ 16,~cn,nnn
1. AGREEMENT. Buyer agrea3 to buy, and Seller agrces to sell, the Property defined below oa the terms and conditions set
forth in mis contras (Contract).
2. DEFLYIDTERMS.
a. Buyer. Buyer,
City o£ Aspen
will take title to the real property descn'bed below as ^ Joint Tenants ^ Tenants In Common ^ Other
b. Property. The Property is the following legally described real esffite in the County of a/e ,
Colorado:
7.ots 1 sad 2, Block 1, Aapaa Airport Bmiaeaa Caster £i3iag 1, according to t11e Plat recorded in
Sook 7 Page 79.
]mows as No
StteetAddress ~ City State Zip
together with the interests, easements, rights, beaefrts, ~provemeats and attached futures apptutenant thereAO, all interest of
Sella in vacated stress and alleys adjacent thereto, except as herein excluded.
o. Dates and Deadtinea
Item No. Reference Event Date or Deadline
1 §4a AltemativeEatnestMoneyDeadline s`72 Hours tic
2 §Sa. Loan App cation Deadline n/a
3 ~ § Sb - Loan Coadidons Deadline ~ n/a
4 §Sc Buyer's Credit InformationDeadline ~ n/a
5 §Sc Disapproval ofBuyer's Credit Infomratioa Deadline a/a
6 § Sd Existing Loan Documents Deadline n/a
7 §Sd Existing Loan Docvntents Objesion Deadline a/a
~~ 8~~~ ~-~ -----~~ § 6d Loan Transfer Approval Deadline n/a
9 § 6a(2) Appraisal Deadline n/a
10 § 7a Title Deadline 10 days tic I I ill,',; , , ~,.;
11 § Sa Title Objection Deadline 30 days arc l ~ ~" •;
12 § 7c Survey Deadline 10 days t4sc I l ~ +, , ~%
13 §Sc(2) SluveyObjecdonDeadlme 3o days 1~c ' I'
14 § 7b Dosrment Request Deadline 10 days 1~C ;'~
15 § 7d(5) CIC Documents Objection Deadline 3o days aa:C
PREPARED BY: Greg Hunter, Brokar
CBS 1-111-06, ConVact to Buy and Sall Real Estate (All Types of PropeNes} Moms antl Fynreld Real Estate
ReaIFAST®Soflware, ®2007, Version 6.16. SoRware Reglsterstl to: Crsig Morris, Moms 8 Fyrwald Real Estate
Buyers} ~ 10!31/07 09:51:44
Page f12
Seller(s)
16 § 8b Off-RecordMattersDeadline to days tdse 'I I'"~ '
17 § 86 Off-Record Matters Objection Deadline 30 Jaya td6C I~ ~'~:...
18 § 8f Right Of First Refusal Deadline none
19 §10a Sellet'sPr ertyDisclosttreDeadline 10 days egc i~~''%'~
20 § IOb Inspection ObjectionDeadtine 30 Jaya t4gC ~ i ! !~~~ ~-
21 § I Oc Resolution Deadline 35 daya t4ee I -; ;
22 § lOd PmpertyInsuraaceObjectlonDeadliae 3o says rdEC ~(~?;y
23 § 12 CtosingDate 45 days te&c , ~
24 § 17 PossessionDa~ 45 days terac -.
25 § 17 Possession Tiane B Cleeiaq
26 §29 Acce anceDeadllneDate Bovembar o2, 2007
27 § 29 Acce ante Deadline Time noon
a/a n/a n/a n/a
n/a n/a a/a ~ n/a
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d. Attachments. The foltowing are a part of this contract:
Adflend.an A, Addendraa 8 and one Lead ?tint Diacloanra covering all improv~enta on the Property are
attached hereto sad incorporated horedLn Iay this sef®rence.
Note: Tlu following disclosure forms are attached but ate not a part of this connect:
none.
e. Applicability of Terms A check or similar mark in a box mesas that such provision is applicable. The abbmviation
"N/A" or the word "De1e~d" means not applicable and when insetted on any line in Dates and Deadlines (§ 2c}, it means that
the eoaespondn,>~nv provision of fhe Contract to which reference is rondos deleted. The abbreviation "MEC" (mut~a2 execution
of this Contract) means the latest date upon whicL bothparties have agned this contract.
3. INCLUSIONSAND EXCLUSIONS.
a h[closioos The Purchase Price includes the following items (Inclusions):
(1) Futares.If attaches to the Property on the date of this Connect, lighting, heating, plumbing, veatilatiag, and air
conditioning 5xtures, TV antennas, inside telephone wiring cad connecting blocksfjacka, Plants, mirrors, floor coverings,
intercom systems, bntlt-ia kitchen appliances, sprinkler systems and controls, built-in vacuum sys~nu (including accessories),
garage door openers including D remote controls; and ~
nose.
43 (~ PeraonalProperty. The foDowing are included if on the Property whether attached or not on the date of this
44 Contract: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, curtain rods,
45 drapery rods, fneplace inserts, fireplace acrana, fveplace grates, heatin~stoves, storage sheds, and all keys. If checked, the
46 folowing are included: ®WaterSoiteners ®Smoke/FireDetectore SecudtySystems ®SatelliteSystems (including
47 sa411ite dishes).
48 (3) Other Inclnsions-
49 Nona.
50 The Personal Property to be conveyed at Closing shall be conveyed, by Seller, free and clear of all taxes (except
51 personal property taxes for the year of Closing), liens and encumbmnees, except
52 none.
53 Conveyance shaIl be by brit of sale or other applicab)c legal instrument.
54 (4) TradeFixtures- With respect to trade fixtures, Seller and Buyer agree as follows:
55 none.
~,,
' {'
56 The Trade Fixtures to be conveyed at Closing shall be conveyed, by Seller, free and clear of all taxes (except personal
57 property taxes for the year of Closing), liens and encumbrances, except
PREPARED BY: Greg Huntw, Broker
CBS 1-10-06, Contract b Buy and Sell Real Estate (All Types of Prapediea)_ Colorado Real Estate Commission
Rea1FA$Ttd So~ 007, Version 6.16. Soaware Registered m: G1alg Flcrtis, Mortis 8 Fyrvrald Rael Estate
sl 10!3710709:45:44 Seller(s) 12
Buyer(s)
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none other.
Conveyance shall be by bill of saleor other applicable legal iasWmeat.
(5) Parking and Storage Faci-ties. ~ Use Only ®Ownership of the following pazldng facilities:
and ^ Use Only ®Otvnership of the folowing storage facilities:
(6) Water Rights. 7'hefollowinglegaAydescn'bedwaterrighu:
Any that are appurtenant to the Property.
Aaywaterrightsshallbecoaveyedby qa'« >_ - deed oz other applicable legal instrument
The Well Peffiit # is a/a
{7) Growing Crops. W ith respect to growing crops, Seller and Buyer agree as fo-ows:
Done.
b. ExclusIoas. The following 8ems are excluded:
See S. 3a(1) above.
4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shall be payable in U.S. Dollars by Buyer as
follows:
Item No. Reference Item Amount Amount
1 §4 Purchase Price S 10,250,000
2 §4a Esmest Money $ 500,000
3 § 4d(i) New First Loan a/a
4 § 4d(2) New Second Loan a/a
5 § 4e Asstuttp8on Balance a/a
6 § 4f Seller or Private Financing a/a
7 n/a n/a a/a a/a
g n/a a/a a/a a/a
9 § 46 Cash at Closing i7, 750,000
10 TOTAL $ 16,250,000 $ 1E, 250,0a0
Note: If there is an inconsistency between the Purchase Price on the fast page and tbis § 4, the amotmt in § 4 shall control
a. Earnest l~ioney. The Earnest Money set forth in this section, in the form of ;•^^^ r^^^° ,
is part payment of dte Parchase Price and shall be payable to and held by Pa ««: ^ r•,,..^«., m; rr e
(Earnest Money Holdes~ in its trust accouin, on behalf of both Se Der and Buyer. The Earnest Money deposit shall be tendered
with this Contrail unless the panes nnrtually agree to an Alternative Earnest Money Deadline (§ 2c) for its payment. The
parties authorize delivery of the Earnest Money deposit to the closing company, if arty, at or before Closing. la the event Earnest
Money Holder has agreed to have iatereat oa Eameat Money deposiu transferred to a fund esublished for the purpose of
providing affordable housing to Colorado residents, Seller end Buyer acknowledge and agree drat any interest arxmiag on
the Earnest Money deposited with the Earnest Money Holder is this transaction shall be transferred to such fund.
b. Cash at Closing. All amounu paid by Buyer at Closing including cash a[ Closing, plus Buyer's closing cosu, shall be in
funds which comply with si! applicable Colorado laws, which include cash, electronic transfer funds, certified check, savings
and loan teller's check Bail cashier's check (Good Funds).
c Down Payment Assistance; Seller Paid Cosu. Seller, at Closing, shall credit $ ;~" to Buyer to
assist with Buyer's down payment. Seller shall also, at Closing, credit to Buyer the amount of $ a/a to assist
with Buyer's closing cods, not to exceed the amourt due from Buyer for such costs. These amounu are in addition to any sum
S eller has agreed to pay or credit Buyer elsewhere in this Contract.
d. New Loan. [Omitted-Not Applicable]
e. Assumption. [Omitted-Not Applicable]
f. Seller or Private Financing. [Omitted- Not Applicable]
5. FINANCTNGCONDITTONSANDOBLIGATIONS.
PREPAREa 6Y; Greg Hunter, Broker
CBS t-11H18, Conkact to Buy and SeII Teal Estate (All Types of Properties). Cobrado Real Estate Commission
ReaIFA$T®Soavmre, 02007, Version 6.16. Sofavare Registered to: Craig Mortis, Morris 8 Fymald Real Estate
~/,~ 11M31l07 OB:45:44
Buyer(s) ~y7'J
Pages
Sellers}