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HomeMy WebLinkAboutC87-088 buy/sell with Harold FenderCONTRACT TO BUY AND SELL REAL ESTATE (Remedies Include Specific Performance) '87_88_54 1987 1. The undersigned County of Eagle, State of Colorado, by and through its Board of County Commissioners, hereinafter called Purchaser, hereby agrees to buy, and the undersigned Owner, hereinafter called Seller, hereby agree to sell, upon the terms and conditions stated herein, the following described real estate situate in the County of Eagle, State of Colorado, to wit: Tract A, Aspen Mesa Estates, First Filing, according to the subdivision plat filed as document #110936 in Book 215 at Page 434, Eagle County, Colorado together with all easements and rights-of-way appurtenant thereto, and all improvements thereon and all fixtures of a permanent nature currently on the premises except as herein- after provided, in their present condition, ordinary wear and tear excepted, and hereinafter called the Property. 2. The purchase price shall be U.S.$5,140.00, payable as follows: By Eagle County Warrant in the amount of Five Thousand One Hundred Forty Dollars ($5,140.00) payable to the undersigned Seller upon delivery of the deed as provided herein. 3. The date of closing shall be the date for delivery of deed as mutually agreed to by all the parties, but in no case later than a date ten days from the date hereof. 4. This Contract is not contingent upon the obtaining of a loan by Purchaser from a third party. 5. Title shall be merchantable in Seller, except as stated in this paragraph and in Paragraphs 6 and 7. Subject to payment or tender as above provided and compliance by Purchaser with the other terms and provisions hereof., Seller shall execute and deliver a good and sufficient General Warranty Deed to Purchaser within ten days of the date hereof, conveying the Property free and clear of all taxes, except the general taxes for the year of closing, and except NONE free and clear of all liens for special improvements installed as of the date of Purchaser's signature hereon, whether assessed or not; free and clear of all liens and encumbrances except NONE except the following restrictive covenants which do not contain a right of reverter: NONE and except the following specific recorded and/or apparent easements: NONE and subject to building and zoning regulations. 6. Except as stated in Paragraphs 5 and 7, if title is not merchantable and written notice of defect(s) is given by Purchaser or Purchaser's agent to Seller or Seller's agent on or before date of closing, Seller shall use reasonable effort to correct said defect(s) prior to date of closing. If Seller is unable to correct said defect(s) on or before date of closing, at Seller's option and upon written notice to Pur- chaser or Purchaser's agent on or before date of closing, the date of closing shall be extended thirty days for the purpose of correcting said defect(s). Except as stated in Paragraph 7, if title is not rendered merchantable as provided in this paragraph 6, or if this contract is not executed by Seller within ten (10) days of the date hereof, at Purchaser's option, this contract shall be void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser. 7. Any encumbrance required to be paid may be paid at the time of settlement from the proceeds of this transaction or from any other source. Provided, however, at the option of either party, if the total indebtedness secured by liens on the Property exceeds the purchase price, this contract shall be void and of no effect - and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser. 8. General taxes for the year of closing shall be paid by Seller. 9. Possession of the Property shall be delivered to Purchaser on the date of closing as provided in Paragraph 5. -2- 10. Time is of the essence hereof. If any note or check received as earnest money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any other obligation hereunder is not performed as herein provided, there shall be the following remedies: (a) IF SELLER IS IN DEFAULT, (1) Purchaser may elect to treat this contract as terminated, in which case all payments and things of value received hereunder shall be returned to Purchaser and Purchaser may recover such damages as may be proper, or (2) Purchaser may elect to treat this contract as being in full force and effect and Purchaser shall have the right to an action for specific performance or damages, or both. (b) IF PURCHASER IS IN DEFAULT, (1) Seller may elect to treat this contract as terminated, in which case all payments and things of value received hereunder shall be forfeited and retained on behalf of Seller and Seller may recover such damages as may be proper, or (2) Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to an action for specific performance or damages, or both. (c) Anything to the contrary herein notwithstand- ing, in the event of any litigation arising out of this contract, the court may award to the prevailing party all reasonable costs and expense, including attorney's fees. (d) In the event suit is filed to enforce any of the provisions hereunder, the parties hereto agree to jurisdiction and venue in Eagle County, Colorado. 11. Miscellaneous Provisions. It is anticipated that Purchaser shall construct improvements to the El Jebel Hill Road, said construction hereinafter referred to as the "Road Project"; a segment of the El Jebel Hill Road runs adjacent to property owned by Seller. In further consideration for the Property which is the subject of this Contract to Buy and Sell Real Estate, Purchaser agrees to make certain improvements to Seller's driveway approach and to construct replacement fencing as follows: a. Purchaser shall construct Seller's driveway approach once the Road Project is under way. The align- ment and construction of said driveway approach shall be undertaken in a manner mutually agreed to by the parties hereto. It is further agreed that the driveway approach shall be graveled only. -3- } b. Purchaser shall construct along the portion of realigned roadway adjacent to Seller's property. The replacement fencing shall typically consist of two steel, then one wooden post, standard spacing, and four or five strands of barbed wire, as mutually agreed to by the parties. A gate which is currently in place within Seller's existing fence shall be utilized in the replace- ment fencing. 12. This Agreement shall be binding upon and shall inure to the benefit of the parties' heirs, successors and assigns. IN WITNESS WHEREOF the parties hereto have affixed their hands and seals on the date firstabove written. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD UNTY COMMISSIONERS 7 By: By: erk of the B and of Richard L. G :afa n, Chairm ounty CommissionersAddress for givnotices: P.O. Box 850 Eagle, Colorado 81631 (303) 328-7311 (Ext. 515) SELLER: 19 FIN, -f-� Address for giving notices: c/o Gary Fender 0223 Highway 133 Carbondale, Colorado 81623 (Acknowledgment on following page) -4- STATE OF COLORADO ss County of ) The foregoing was acknowledged before me this /111e- day of , 1987, by Harold E. Fender. My commission expires Notary Public -5-