HomeMy WebLinkAboutC13-333 Assignment by the Town of Eagle I I
ASSIGNMENT BY THE TOWN OF EAGLE,COLORADO OF AN OPTION TO BUY CERTAIN REAL
PROPERTY DESCRIBED AS LOT 85, THE BLUFFS AT EAGLE, ACCORDING TO THE PLAT
RECORDED MAY 14, 2003, AS RECEPTION NO. 833340 IN THE RECORDS OF THE EAGLE
COUNTY CLERK AND RECORDER TO THE EAGLE COUNTY HOUSING AND DEVELOPMENT
AUTHORITY
THIS ASSIGMENT is made and entered by and between the Town of Eagle, Colorado,a municipal
corporation, (hereinafter referred to as the "Town") and the Eagle County Housing and Development
Authority(hereinafter referred to as the "ECHDA").
RECITALS
WHEREAS, on or about July 15, 2005, a Master Declaration of Covenants And Restrictions
Concerning The Occupancy And Resale Of Property Designated By The Town Of Eagle As A Local
Employee Residence ("Declaration") was made by The Bluffs At Eagle, LLC, for the benefit of and
specifically enforceable by Declarant,the Owner and the Town; and
WHEREAS,said Declaration specifically is applicable to the real property described as Lot 85,The
Bluffs At Eagle,Town of Eagle, County of Eagle, State of Colorado ( the "Property")according to the plat
recorded May 14, 2003 as Reception No. 833340 in the records of the Eagle County Clerk and Recorder
and to the Owners Jacque Fluyr and Tracy Barber; and
WHEREAS, Section 7 of the Declaration provides that in the event of a foreclosure by the holder
of bona fide promissory note secured by a bona fide first priority deed of trust on the Property, the
Town shall have the option to purchase the Property which shall be exercised in accordance with said
Section 7 and Exhibit"D"attached to the Declaration;and
WHEREAS, the Owners, Jacque Fluyr and Tracy Barber, executed a Right of First Refusal
Agreement on July 14, 2005, recorded on August 3, 2005 as Reception No. 924854 in the records of the
Eagle County Clerk and Recorder granting the Town the right to purchase the subject Property;and
WHEREAS,the Property is now subject to pending foreclosure proceedings; and
WHEREAS, the Town desires to keep the subject Property in the Town's Local Employee
Residence Program; and
WHEREAS, the Town desires to assign and delegate it rights, duties and obligations under the
Declaration and the Right of First Refusal Agreement to the ECHDA in accordance with subsection 10.1
of the Declaration.
NOW,THEREFORE,for good and valuable consideration,the Parties agree as follows:
Section 1.0 ASSIGNMENT. Pursuant to subsection 10.1 of Section 10 of the Declaration, the Town
hereby assigns and delegates to ECHDA all of its rights, duties and obligations concerning the Town's
right to purchase the subject Property, Lot 85,The Bluffs At Eagle,Town of Eagle, County of Eagle,State
of Colorado to the ECHDA.
1
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Section 2.0 ACCEPTANCE OF ASSIGNMENT. ECHDA hereby accepts the assignment of the Town's
rights to purchase the Property described herein.
IN WITNESS WHEREOF, the Parties have executed this Agreement the day and year first above
written.
ASSIGNOR:
Town Of Eagle,Colorado acting by and through its Board of Trustees
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ATTEST: ,(1 it BY: * • ,LA■III'
Sarah Braucht,Town Clerk ri Kostick, Mayor
STATE OF COLORADO )
)ss:
COUNTY OF EAGLE
The foregoing instrument was acknowledged before me this 2 day of 3'C..vbe ,2013 by Yuri
Kostick, Mayor and Sarah Braucht,Town Clerk,of the Town of Eagle,Colorado,a municipal corporation.
Witness my hand and official seal.
.,I.ul11I •••,
My commission expires: V 2-11-281 5 �.� ..,. ..,.5.
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kktefleli :
Notary Pu lic B13°
OF COO o'
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ASSIGNEE:
Eagle County Housing and Development Authority
BY:.14/4).../144______,Commissioner
-,%/r1174 FV214eAr
Printed Name
STATE OF COLORADO )
)ss:
COUNTY OF EAGLE
The foregoing instrument was acknowledged before me this I 2-" day of 'U r V b , 2013 by
a . 1")-(x- ,Commissioner of the Eagle County Housing and Development Authority.
Witness my hand and official(seal.
My commission expires: S10 1944 16-
DEBORAH ; { IN CHURCHILL
)`i'A '(PUBLIC
)51/(1)(Mig SIAM or COLORADO
MY COMMISSION EXPIRES 3/2412015
Notary Public
3
RESOLUTION NO. 18
(Series of 2013)
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF EAGLE, COLORADO APPROVING AN
ASSIGNMENT BY THE TOWN OF AN OPTION TO BUY CERTAIN REAL PROPERTY TO THE EAGLE COUNTY
HOUSING AND DEVELOPMENT AUTHORITY
WHEREAS, on or about July 15, 2005, a Master Declaration of Covenants And Restrictions
Concerning The Occupancy And Resale Of Property Designated By The Town Of Eagle As A Local
Employee Residence ("Declaration") was made by The Bluffs At Eagle, LLC, for the benefit of and
specifically enforceable by Declarant,the Owner and the Town;and
WHEREAS,Section 7 of the Declaration provides that in the event of a foreclosure by the holder
of bona fide promissory note secured by a bona fide first priority deed of trust on the Property, the
Town shall have the option to purchase the Property which shall be exercised in accordance with said
Section 7 and Exhibit"D"attached to the Declaration;and
WHEREAS,said Declaration is specifically applicable to the real property described as Lot 85,The
Bluffs At Eagle,Town of Eagle,County of Eagle,State of Colorado(the"Property")which currently is the
subject of pending foreclosure proceedings;and
WHEREAS, the Town desires to keep the subject Property in the Town's Local Employee
Residence Program;and
WHEREAS,the Town desires to assign and delegate it rights, duties and obligations under the
Declaration regarding its option to purchase the subject Property to the Eagle County Housing and
Development Authority which presently has sufficient funds to purchase the Property.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF EAGLE,
COLORADO:
Section 1. The Assignment by the Town of Eagle of an Option to Buy Certain Real Property
Described as Lot 85,The Bluffs At Eagle,According to the Plat Recorded May 14,2003,as Reception No.
833340 in the Records of the Eagle County Clerk and Recorder to the Eagle County Housing and
Development Authority attached hereto as Exhibit "A" and incorporated herein by this reference, is
hereby approved.
Section 2. The Mayor is authorized and directed to execute the assignment attached
hereto on behalf of the Town of Eagle.
INTRODUCED, READ, PASSED AND ADOPTED by the Board of Trustees of the Town of Eagle,
Colorado at a regular meeting of the Board of Trustees held on October 22, 2013 ,2013.
TOWN OF EAGLE,COLORADO,a
municipal corporation,acting by
and through its Board of Trustees
By: 1�d5
uri Kostick,Mayor
ATTEST:
! /
A1i at A A
Sarah Braucht,Town Clerk
Assignment Resolution October 18,2013
