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HomeMy WebLinkAboutC15-503 Thomas Pool and Christine AtkinsonEAGLE COUNTY MEMORANDUM OF AGREEMENT Project Code:Parcel No:ROW-I and TE-l Project No: CO FLAP 301(1) Location: Red Dirt Bridge County: Eagle EAG-301-15.6 This agreement made on (date)is between the Eagle County (GRANTEE) for the purchase of a fee simple interest in a parcel(s) of land (See description set forth in Exhibit A) and the purchase of a temporary construction easement (See description set forth in Exhibit B)from the Owner(s) Thomas Pool and Christine Atkinson (GRANTOR). Just compensation was determined by an appropriate valuation procedure prepared in accordance with Colorado state laws and regulations. The amount of money and/or compensation listed below is full consideration for the followine land. easements. improvements. and damaees of anv kind. Land (described in attached exhibits)0.13 Sq.ftf/acresf,$4,940 Permanent and Slope Easements (described in attached exhibits)Sq.ftf,/acres!$ Temporary Easements (described in attached exhibits)6,354 Sq.ftfi/acresf,s51s Improvements (Fence and Trees)$1,975 Damages $ Gross Total Less Credit Net Total $7.430 $ s7,430 Other conditions: The temporary construction easement and fee simple interest in land are collectively referred to herein as the "Propert5/". The GRANTOR: l) Will, at the closing, pay all taxes (including prorated taxes for the current year) and special assessments for the current year; 2) Has entered into this agreement only because the GRANTEE has the power of eminent domain and requires the Property for public pu{poses; 3) Be responsible for securing releases from all liens, judgments and encumbrances to deliver clear, unencumbered title to GRANTEE. Specifically, Grantor shall be responsible for obtaining releases of any mortgages or any other liens, judgments and encumbrances identifed in Schedule B-1 of a title commitment to be obtained by GRANTEE such that the Property is delivered free and clear of any liens and encumbracnces. Any encumbrance required to be paid by GRANTOR shall be paid at or before closing from the proceeds of the transaction hereby contemplated or from any other source; 4) Will execute and deliver to GRANTEE those documents indicated below; 5) Will comply with all requirements of GRANTOR identified in Schedule B-l of a title commitment to be obtained by GRANTEE from Heritage Title Company, including but not limited to, the release of liens and execution of lien or other affidavits; 6) Will cooperate with GRANTEE so that standard title exceptions can be deleted by the title company in any policy to be paid for and issued to GRANTEE; 7) Excepts from the subject Property described herein in the attached Exhibits, the mineral estate and including all coal, oil, gas and other hydrocarbons, and all clay and other valuable mineral in and under said subject Property. The GRANTOR hereby covenants and asrees that the GRANTEE shall forever have the risht to take and use. By: Eagle Attorney's 0fflce C15-503 12/22/15 without payment of further compensation to the GRANTOR, any and all sand, gravel, earth, rock, and other road building materials found in or upon said subject Property and belonging to the GRANTOR; and 8) The GRANTOR further covenants and agrees that no exploration for, or development of any of the products, as described above, and owned by the GRANTOR heretofore or hereafter the date set forth above and hereby excepted will ever be conducted on or from the surface of the premises described in the attached Exhibits, and that in the event any of such operations may hereafter be carried on beneath the surface of said premises, the GRANTOR shall perform no act which may impair the subsurface or lateral support of said premises. These covenants and agreements hereunder, shall inure to and be binding upon the GRANTOR and its heirs, personal and legal representatives, successors and assigns forever; 9) Will identifu in writing to GRANTEE any off-record matters that may affect the Property of which GRANTOR is aware; 10) Will identify any claims or litigation that is threatened or pending against the Property of which GRANTOR is aware; 11) Any taxes and fees to be pro-rated in connection with the closing shall be considered a final settlement; and 12) Represents and warrants that no broker is involved on behalf of GRANTOR and no commission is due and owing to any third party. NOTE: At GRANTOR'S sole discretion, the GRANTOR may convey the underlying mineral estate owned by GRANTOR to the GRANTEE. GRANTEE makes no representations about the nature, title or value of the mineral estate. In transactions where GRANTOR conveys the underlying mineral estate to GRANTEE, Paragraphs 7 and 8, as set forth above, will be deleted from this Memorandum of Agreement and the conveyance document. I CneNfOR conveys the underlying mineral estate to GRANTEE. Paragraphs 7 and 8 are hereby deleted from the Memorandum of Agreement and the conveyance document. The GRANTEE: 1) Will be entitled to specific performance of this agreement upon tender of the agreed consideration; 2) Will be held harmless from any claims against the Property or to any interest in the Property, except for any benefits due under relocation law; 3) Will make payment after receiving acceptable conveyance instruments from the GRANTOR; 4) Will take possession and use of the parcel(s) when it deposits the consideration, as set forth above, into an escrow account for the benefit of the GRANTO& or when GRANTEE disburses funds to GRANTOR. Transfer of title to the parcel(s) shall occur upon performance of any and all terms under this agreement, and release of the payment from escrow to the GRANTOR, unless other arrangements are made that follow Title III of the Uniform Relocation Assistance and Real Property Acquisition Act of 1970, as amended; and 5) Will pay the cost to obtain a title policy on the Property and will pay the cost of any endorsements or other coverage desired by GRANTEE; 6) This Memoramdum of Acceptance must be approved/ ratified by the Eagle County Board of County Commissioners at a regularly scheduled public meeting and is subject to the TABOR Amendment and local government budget law; 7) Will comply with any requirements in Schedule B-1 applicable to GRANTEE; 8) Will pay any recording or documentary fees, if any; 9) Represents and warrants that no broker is invovled on behalf of GRANTEE and no commission is due and owing to any third party; 10) Will prepare a General Warranty Deed and Temporary Easement in a form to be mutually agreed upon; I 1) Will pay any documented penalty costs for prepayment of any existing recorded mortgage; and 12 ) Will prepare the following documents: Page 2 of 3 Editions prior to 2lO9 *e obsolete and may not be used CDOT Form #784 -2109a X General Warranty Deed I Utility Easement I Access Deed I Permanent Easement tr Full Release(s) BooVPage: tr Slope Easement I Partial Release(s) Book/Page: X Temporary Easement tr Or (specify) L Title Company to prepare all other required documents except General Warranty Deed and Temporary L-l Easement Order Warrant $7,430.00 Payable to: Thomas Pool and Christine Atkinson Order Warrant $Pavable to: GRANTOR signature Attach form W-9a,fu GRANTOR (if applicable) Ur,-- t / fu..'-^-----, Editions prior to 2109 are obsolete and may not be used CDOT Form #784 -2/09aPage 3 of3