HomeMy WebLinkAboutC87-163 buy/sell Frank TavernaC87-163-54 CONTRACT TO BUY AND SELL i( REAL ESTATE (Remedies Include Specific Performance) 0 -- 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 Y . ` 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 -2- 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 -3- r`9 4z 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 M Richard L. Zust'hfs Address for giving�fi4ices : P.O. Box 850 f Eagle, Colorado 81631 (303) 328-7311 (Ext. 515) -4- Go Go rte.. 'w. STATE OF COLORADO �.r SELF Frank X. Taverna Address for giving notices: 1670 Upper Cattle Creek Road Carbondale, Colorado 81623 (303) 963-3278 ss County of4, ) The foregoing was acknowledged before me this day of ,yrs; 1987, by Frank X. Taverna. WITNESS my hand and official seal. _gym s 3 Notary Public - My commission expires 130 - A3 P a f -5-