No preview available
HomeMy WebLinkAboutC93-021 real estate contract with Rockey and Linda BecerraC93 -21 -17 CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE THIS AGREEMENT made and entered into this day of "~ 1993, by and between Rockey W. Becerra and Linda K. B err of Eagle County, Colorado, hereinafter "SELLERS," and The County of Eagle, State of Colorado, by and through its Board of County Commissioners, hereinafter "PURCHASER." 1. Sale and Purchase Sellers shall sell and Purchaser shall purchase the property described as follows, hereinafter referred to as the "PROPERTY ": Lot 1, Longview Subdivision, Eagle County, Colorado, also known as Highview Mobile Home Park, 332 Jules Drive, Gypsum, Colorado 81637 The PROPERTY includes the following improvements presently located on the premises: Single family residence Construction yard Duplex residence Mobile home (A) "North" workshop Mobile home (B) Walk -in storage building Mobile home (C) Garage /walk -in storage building "East" garage "South" workshop "West" garage Also: Landscaping, irrigation sprinkler, chain -link fencing, two additional mobile home pads, graveled driveways, and small utility storage sheds. The PROPERTY also includes an 85 -foot deep domestic water well, septic system consisting of 3 tanks, and leaching fields. 2. Purchase Price A. The purchase price shall be Four Hundred Fifty Thousand Dollars ($450,000), payable as follows: Purchaser shall pay Sellers the sum of Twenty Thousand Dollars ($20,00.00) as earnest money at the time this contract is executed by Purchaser, which sum shall be deposited in an inter- est- bearing escrow account by First American Heritage Title Company (interest to be paid to Purchaser at closing). The Balance of Four Hundred Thirty Thousand Dollars ($430,000.00) shall be paid by County warrant on the date fixed for closing, as provided hereinbelow. B. The purchase price shall include the Property described above, together with all easements and rights -of -way appurtenant thereto, and all improvements located thereon, including but not limited to those items described above; Price also to include any of the following items which may be currently on the Property: lighting, heating, plumbing, ventilating, and central air condi- tioning fixtures; attached TV antennas and /or water softener (if owned by Sellers); all outdoor plants, window and porch shades, venetian blinds, storm windows, storm doors, screens, curtain rods, drapery rods, attached mirrors, linoleum floor tile, awnings, fireplace screen and grate, built -in kitchen appliances, wall -to -wall carpeting, wood stoves, dishwasher, trash compactor, all in their present condition; but not including the electric ranges and two refrigerators, or the satellite dish located on the property. The Price shall also include all water rights associated with the well located on the Property, which rights shall be quit- claimed to the Purchaser at closing, said water rights to include the well which is located in the NW 1/4 SW 1/4 of Section 4, T5S, R85W of the 6th P.M. at a point 1411 feet North of the South Line and 678 feet East of the West Line of said Section 4. C. Except for the earnest payment described above, which shall be non - refundable except in the events described in this Paragraph and in Paragraph 9 below, all obligations of Purchaser hereunder are contingent upon Purchaser's receiving a federal grant for this purchase, including the cost of relocation assis- tance, prior to the date of closing. If a federal grant is not issued prior to July 1, 1993, this entire contract shall be null and void and the earnest money returned to Purchaser. D. Sellers and Purchaser agree that the value of the Property is allocated as follows: $ 62,800 to the land 18,322 to the three mobile homes 368,878 to remaining improvements -2- 3. Closing A. The completion of the purchase and payment of the purchase money shall take place within thirty (30) days after Purchaser accepts the federal grant in the amount of the purchase price plus estimated relocation costs. Closing shall take place at the office of the Eagle County Attorney, or at such other place as may be mutually agreed upon by the parties. B. At closing, Sellers shall execute and deliver a good and sufficient general warranty deed conveying to the Purchaser the fee simple of the said Property, free and clear of all taxes, except the general taxes for the year of closing, and free and clear of all liens for special improvements installed as of the date of Purchaser's signature herein, whether assessed or not; free and clear of all liens and encumbrances except recorded and /or apparent easements for telephone, electricity, water, sanitary sewer, patent reservations of record, and other ease- ments, restrictions and rights -of -way as shown on the attachment hereto entitled "Schedule B - Section 2." Any encumbrance re- quired to be paid may be paid at the time of closing from the proceeds of this transaction or any other source. C. Sellers shall deliver to Purchaser bills of sale in a form acceptable to Purchaser for the three mobile homes which are part of the Property, and the titles thereto. Bills of sale shall also be provided for any other personal property included in this transaction. 4. Further Instruments Sellers will, whenever and as often as they shall be requested to do so by Purchaser, and Purchaser will, whenever and as often as it shall be requested so to do by Sellers, execute, acknowledge, and deliver, or cause to be executed, acknowledged, and delivered, any and all conveyances, assignments, and all such further instruments and documents as may be necessary in order to complete all conveyances, transfers, sales, and assignments provided in this agreement and to do any and all other acts and to execute, acknowledge, and deliver any and all documents as so requested in order to carry out the intent and purposes of this contract. -3- 5. Title Insurance The Sellers acknowledge the receipt of a copy of a current commitment for a title insurance policy in an amount equal to the purchase price, from First American Heritage Title Company. Sellers will deliver the title insurance policy to Purchaser after closing and Purchaser shall pay the premium therefor at closing. The policy of title insurance shall be the equivalent of an extended coverage ALTA owner's policy of title insurance dated as of the closing date, with liability of $450,000.00, showing that marketable title to the land and improvements is vested in the Purchaser, subject only to real property taxes for the current year, and items shown on the preliminary title report which have been approved by Purchaser. Should Sellers be unable to deliver insurable title to the Property, costs of the title insurance commitment shall be paid by the Sellers. 6. Leases The Property is currently subject to the following leases: Month -to -month Rental Agreements for two mobile homes, two duplex units, and workshop building; Rental Agreements with 60 -day notice to vacate required for two mobile home lots; all other rentals on 30 -day verbal agreement Ten days before closing, Sellers shall provide Purchaser with a list of tenants, their respective rental properties and utility obligations, and the amount and due date for each rental. Sellers shall assign the written Rental Agreements to Purchaser at closing. Purchaser shall be responsible for giving appropriate notices to vacate to all tenants. 7. Encumbrances The record shows the following encumbrances against the Property: A. Deed of Trust from the Sellers to the Public Trustee of Eagle County for the benefit of Charles W. Thompson and Florence E. Thompson to secure an indebtedness, dated January 4, 1985, and recorded January 4, 1985, in Book 404 at Page 168. B. Financing Statements from Sellers to Charles W. Thomp- son and Florence E. Thompson, recorded January 4, 1985, in Book 404 at Page 169. C. Tax Lien Sale # 1990 - 00312: Amount to redeem until 2/28/93 is $20,767.86; additional charges accrue after that date. 8. Exceptions Purchaser agrees to take title to the Property subject to the items listed on "Schedule B - Section 2, attached hereto and incorporated herein by this reference. -4- 9. Defects in Title If title is not merchantable in Sellers, and written notice of defects is given by the Purchaser or Purchaser's agent to Sellers or Seller's agent on or before the date of closing, Seller shall use reasonable effort to correct said defects prior to date of closing. If Sellers are unable to correct said defects on or before the date of closing, at Sellers' option and upon written notice to Purchaser or Pur- chaser's agent on or before the date of closing, the date of closing shall be extended thirty days for the purpose of correct- ing said defects. If title is not rendered merchantable as provided in this paragraph, 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 the Purchaser. 10. Taxes /Utilities /Rents General taxes for the year of closing, based on the most recent levy and most recent assess- ment, prepaid rents, water rents, sewer rents, if any, shall be apportioned to date of delivery of deed. 11. Possession Possession of the property shall be delivered to Purchaser on the delivery of the deed. 12. Damage to Property In the event the Property shall be damaged by fire or other casualty prior to time of closing, in an amount of not more than Ten Thousand Dollars ($10,000.00), Sellers shall be obligated to repair the same before the date herein provided for the delivery of deed. In the event such damage is not or cannot be repaired within said time or if the damages exceed such sum, this contract may be terminated at the option of Purchaser and all payments and things of value received hereunder shall be returned to Purchaser. Should Purchaser elect to carry out this contract despite such damage, Purchaser shall be entitled to all the credit for the insurance proceeds result- ing from such damage, not exceeding, however, the total purchase price. Should any fixtures or services fail between the date of this contract and the date of possession or the date of delivery of deed, whichever shall be earlier, then Sellers shall be liable for the repair or replacements of such fixtures or service with a unit of similar size, age and quality, or an equivalent credit. 13. Relocation Costs In addition to the purchase price provided for herein, Purchaser agrees, should this transaction close, to provide Sellers with the benefits to which they are entitled pursuant to the provisions of 49 CFR, Part 24, Uniform Relocation Assistance and Real Property Acquisition Act, and other federal assistance programs which may govern the trans- action contemplated herein. -5- 14. Default If any obligation hereunder is not performed as herein provided, there shall be the following remedies: A. IF SELLERS ARE 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) Sellers 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 Sellers, and Sellers may recover such damages as may be proper, or (2) Sellers may elect to treat this contract as being in full force and effect and Sellers shall have the right to an action for specific performance or damages, or both. C. Anything to the contract herein notwithstanding, in the event of any litigation arising out of this contract, the court may award to the prevailing party all reasonable costs and expenses, including attorneys' fees. IT IS AGREED that the terms and conditions of this agreement shall survive the closing, and be enforceable by the parties hereto. This contract and its terms and provisions shall inure to the benefit of and be binding upon the successors and assigns of the parties. IN WITNESS WHEREOF, the parties hereto have set their hands and seals on the day and year first above written. SELLERS: ockey ecerra Linda K. Becerra P.O. Box 1054 Eagle, CO 81631 (Acknowledgment Follows) e 3 $ n 3 ATTEST: PURCHASER: COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: By: Clerk to t1fe Board of Georg A. Gates, Chairman County Commissioners P.O. Box 850, Eagle, CO 81631 (303) 328 -8685 Attn. County Attorney STATE OF COLORADO ) ss County of Eagle ) The foregoing was acknowledged before me this t�e day of La; , 1993, by Rockey W. Becerra and Linda K. Becerra. IRF-b�r My commission expires: Nota Public #5 -A -16 /air orm L'1'A YlalA L3I1C3LiiYy� t,ut►u►►.i►.i► ►cia►. �'HSDULS B - Section 2 )rder No. ES00021 -1 -B93 Exceptions kny policy we issue will have the following exceptions unless they are :aken care of to our satisfaction: L. Taxes and Assessments not certified to the Treasurer's office. t. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land Dr by making inquiry of persons in possession thereof. 3. Easements, or claims of easements, not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the land would disclose, and which are not shown by the public records. 5. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 6. All taxes and assessments for the year 1993 and subsequent years, a lien, but not yet due or payable. 7. RESERVATIONS AND EXCEPTIONS IN PATENTS AND ACTS AUTHORIZING THEIR ISSUANCE AS THE SAME MAY AFFECT THE SUBJECT PROPERTY SPECIFICALLY, THE RIGHTS TO DITCHES AND RESERVOIRS USED IN CONNECTION WITH VESTED AND ACCRUED WATER RIGHTS TOGETHER WITH THE RESERVATION OF A RIGHT -OF -WAY FOR DITCHES AND CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS SET FORTH IN THAT CERTAIN U.S. PATENT FILED IN THE EAGLE COUNTY RECORDS. 8. RESERVATIONS AND EXCEPTIONS IN PATENTS AND IN ACTS AUTHORIZING THEIR ISSUANCE AS THE SAME MAY AFFECT THE SUBJECT PROPERTY AND SPECIFICALLY, THE RIGHT OF THE PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS SET FORTH IN THAT CERTAIN U.S. PATENT FILED IN THE EAGLE COUNTY RECORDS. 9. Covenants, conditions and /or restrictions, which do not include a forfeiture or reverter clause, set forth on the recorded plat of SAID SUBDIVISION. 10. The following items as set forth on the plat of SAID SUBDIVISION, to-wit: A. An easement for UTILITIES AND DRAINAGE and incidental purposes over THE SOUTH AND EAST 20 FEET of the land. B. An easement for UTILITIES and incidental purposes over THE NORTH 25 FEET of the land. 11. The final Title Insurance Policy (Policies) shall not and does not insure the title to those fixtures, structures and like appurtenances which are not assessed and taxed as real property by the county. No examination of the title to the referenced fixtures, structures and like appurtenances