HomeMy WebLinkAboutC87-163 buy/sell Frank TavernaC87-163-54
CONTRACT TO BUY AND SELL
i( REAL ESTATE
(Remedies Include Specific Performance)
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PALE.
JolMiETTE i HILLWZ
EAGLE CTY. RECORDER
1987
1. The undersigned Coun y 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 agrees to sell, upon
the terms and conditions stated herein, the following de-
scribed real estate situate in the County of Eagle, State of
Colorado, to wit:
See Exhibit A attached hereto and made a part
hereof by this reference
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
0) tear excepted, and hereinafter called the Property.
M 2. The purchase price shall be U.S.$1,020.00, payable
as follows: One Hundred Dollars ($100.00) as earnest money,
the receipt of which is hereby acknowledged by Seller. The
balance of Nine Hundred Twenty Dollars ($920.00) by Eagle
County Warrant payable to the undersigned Seller as provided
in Paragraph 5 hereinbelow.
3. This Contract is not contingent upon the obtaining
of a loan by Purchaser from a third party.
4. The date of closing shall be the date for payment
as provided in Paragraph 5.
5. Title shall be merchantable in Seller, except as
stated in this paragraph and 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 a sufficient General Warranty Deed
to Purchaser immediately upon Seller's receipt and
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execution of this contract. The deed shall be delivered via
certified mail, return receipt requested, to Purchaser at the
address for giving notices below, 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: See Exhibit B attached hereto and made a part
hereof by this reference;
and subject to building and zoning regulations.
The deed shall be held by the attorney for Purchaser until the
liens specified in Paragraph 8A and 8B are released. After
their release, the deed shall be recorded and payment of the
balance of the purchase price sent within one working day to
Seller.
6. Except as stated in Paragraphs 5, 7 and 8, if title
is not merchantable and written notice of defects) (other
than those defects described at paragraph 8 hereinbelow for
which specific provisions are made) 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 Purchaser 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 Paragraphs 7
and 8, 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. Subject to Seller's compliance with the terms of
Paragraph 8 hereinbelow and other terms, conditions and
provisions hereof, any encumbrance required to be paid may be
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paid at the time of settlement from the proceeds of this
transaction or from any other source.
8. The following encumbrances are of record with
respect to the Property:
a. Deed of Trust executed by Frank X. Taverna to
the Public Trustee of Eagle County for the benefit of
Majestic Savings & Loan Association, recorded in Book 252
at Page 37 of the real property records of Eagle County,
Colorado; and
b. Deed of Trust executed by Frank X. Taverna to
the Public Trustee of Eagle County for the benefit of
Aspen Savings & Loan Association, recorded in Book 359 at
Page 196, real property records of Eagle County, Colorado.
Seller agrees to cooperate fully and in a prompt and
timely manner with Purchaser and the appropriate lending
agencies in performing all acts and executing any and all
documents, immediately upon Sellers' receipt of any such
documents, necessary to remove the liens described in Para-
graph 8(a) and (b) hereinabove as they relate to the property
which is the subject of this agreement.
Purchaser shall pay all administrative fees, application
fees, or recording costs necessary to secure the release of
the subject prc erty and prepare required paperwork for
Seller.
9. General taxes for the year of closing shall be paid
by Seller.
10. Possession of the Property shall be delivered to
Purchaser on the date of closing as provided in Paragraph 5.
11. 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
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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.
12. All prior proposals or agreements, verbal or written,
are expressly revoked upon execution of this Contract. It is
understood by the parties that Eagle County assumes no respon-
sibilities or obligations other than those expressly provided
for herein.
13. This Contract shall be binding upon and inure to the
benefit of the parties' heirs, successors and assigns.
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD 0-F—e61UNTY COMMISSIONERS
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Richard L. Zust'hfs
Address for giving�fi4ices :
P.O. Box 850 f
Eagle, Colorado 81631
(303) 328-7311 (Ext. 515)
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STATE OF COLORADO
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SELF
Frank X. Taverna
Address for giving notices:
1670 Upper Cattle Creek Road
Carbondale, Colorado 81623
(303) 963-3278
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County of4, )
The foregoing was acknowledged before me this
day of ,yrs; 1987, by Frank X. Taverna.
WITNESS my hand and official seal.
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Notary Public -
My commission expires 130 - A3 P
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