HomeMy WebLinkAboutC16-471 Town of Gypsum IGA Dry LakeC16-471
WHEREAS,throughitscontributiontothepurchaseEagleCountyisacquiringaconservationeasementonaportionofthePropertytoprotectwildlife,views,andotherimportantconservationvaluesandassuch,thePropertytobeconservedbyconservationeasementisofgreatvaluetoEagleCounty;andWHEREAS,inadditiontoitscontributiontowardsthepurchaseprice,theTownoritsdesigneewillbecontributingsignificantadditionalvalueintheformofitsresponsibilityforconductingallduediligenceandseekingallapprovalsassociatedwiththepurchaseaswellpayingallongoingcostsassociatedwiththeownership,useandmanagementoftheProperty,includingenforcementofseasonalclosuresforwildlife,installationofwildlifefriendlyfencing,potentialcostsassociatedwithpossiblerecreationalimprovementssuchasrestrooms,signage,vegetationmanagement,parkinglots,motorizedtrails,waterorutilityimprovements,andpotentialmaintenancecostsassociatedwithTrailGulchRoadallassetforthhereIn;andWHEREAS,thepartiesagreethatthevaluesbeingcontributed,bothforthepurchaseaswellasongoingmaintenanceandoperation.areproportionatetotheirrespectiveownershipinterestsasidentifiedherein;andWHEREAS,thisAgreementhasnowbeenfullynegotiatedbetweenthepartiesandwillreplacethepreliminarydraftoftheAgreementthatwasattachedasExhibitCtothepurchaseagreementbetweentheTownandselleroftheProperty;andWHEREAS,thepartiesdesiretocontributefundstotheacquisitionofthePropertyandrelatedcostsallsubjecttotherequiredapprovalsandtermsandconditionssetforthherein.AGREEMENTNOWTHEREFORE,inconsiderationofmutualpromisesandcovenantscontainedinthisagreement,thepartiesagreeasfollows:I.Propert’’InterestsAcquired.a.Gypsumhasenteredintoapurchaseandsaleagreement(“PurchaseAgreement”)withthesellerforthepurchaseofthePropertysuchthatGypsumwillacquirefee-titleinterestintheProperty.CountyhasnoobjectiontotheformofPurchaseAgreement.Further,Gypsumwillconvey,atthetimeofclosingonitsacquisitionoftheProperty,aperpetualconservationeasementforaportionoftheProperty,toaqualifiedentityorCounty.Further,Gypsumwillconvey,atthetimeofclosingonitsacquisitionoftheProperty,arestrictivecovenantasdescribedinmoredetailbelow,
b.ItisanticipatedthatthesellerofthePropertywilldesiretoretainthroughasubdivisionofthePropertyapproximatelyfive(5)acres(“SellerParcel”)andwillrequireanaccesseasementtoaccessthetobecreatedSellerParcel.Sellershallberesponsibteforthestibdivision,asurveyforboththesubdivisionandaccesseasement,andallrelatedcosts.Totheextentapprovalsorpermitsarenecessaryinconnectionwithseller’sfutureuseoftheSellerParcel,itshallbethesoleresponsibilityofthesellertoobtainthesame.2.PaymentsbythePartiesToacquiretheinterestsspecifiedabove,atclosingeachpartyshallpaythefollowing:a.County:SubjecttoapprovaloftheEagleCountyOpenSpaceAdvisoryCommittee(“OSAC”)andtheEagleCountyBoardofCountyCommissionersatanopenmeeting,andsatisfactionofthetermsandconditionsofthisAgreement,EagleCountywillcontributeuptosevenhundredthousanddollars($700,000)tothistransaction.ThepartiesunderstandthatcertaintransactioncostsareexpectedtobeincurredaspartoftheduediligenceandclosingonthepurchaseofthePropertyandconveyanceoftheconservationeasement.Asaresult,CountyagreestoreimburseGypsumfortransactioncostsincurredbyit,upto,butnottoexceed,fiftythousanddollars($50,000),Thepartiesagreethatthetransactioncostsmayincludethefollowingitems:AppraisalBaselinereportMineralanalysisWaterrightsanalysisSurveyofportionsofthePropertyTitlepoliciesandrelatedendorsementsEnvironmentalreviewClosingcostsandrecordingfees.InnoeventshallCounty’stotalcontributionexceed$700,000.b.Gypsum:SubjecttothetermsandconditionshereofTownofGypsumshallpayfiftythousanddollars($50,000)andwillcontributetheinkindservicesassociatedwiththeacquisitionofthePropertyandon-goingmanagementandstewardshipasidentifiedintherecitalsandinthisAgreement.
3.DueDiligencea.County:Notwithstandinganythingtothecontraryherein,Eagle’scontributionoftheamountssetforthaboveissubjecttoreviewandapprovalbyOSACandtheEagleCountyBoardofCountyCommissionersatanopenmeeting.Nothinghereinshallbedeemedpre-approvalbyOSACortheEagleCountyBoardofCountyCommissioners.Further,anyfinancialcontributionbyEagleissubjecttoduediligencereviewwhichmayinclude,butnotbelimitedto,reviewofpurchaseagreement,adoptionofresolutionsdeemednecessarybytheBoardofCountyCommissionerstocompletethetransaction,reviewofthesurvey,titlecommitment,appraisal,environmental,mineralandwatermatters,baselinereport,accesseasement,managementplanandotherassociateddocumentsinconnectionwIththetransactionorclosingontheProperty,theresultsofwhichmustbesatisfactorytoEagle,asdeterminedbyEagleinitssolediscretion.Further,financialcontributionbyEagleissubjecttoits(i)reviewandgrantofasubdivisioncreatingtheSellerParcel;(ii)reviewofaconservationeasementandrestrictivecovenantallinaformsatisfactorytoEagle,initssolediscretion.Further,thepartiesagreethattheTownshallseekreviewandapprovalthrotighalocationandextentprocesstoallowamotorizedtrackonaportionofthePropertyasaconditionofclosing;Gypsumwillprovideanyduediligencedisclosures,informationandreportstoallowEagleten(10)businessdaystoreviewthesame(“ReviewPeriod”)andEaglewillnotifyGypsuminwritingofanyobjectionstothosematterswithintheReviewPeriod,ttnlesstheReviewPeriodisextendedbytheparties.TheReviewPeriodshallnotapplyto(x)thelocationandextentforamotorized[rack;ty)subdivisioncreatingtheSellerParcelwhichshallbegovernedbytheEagleCountyLandUseRegulations;and(z)totheconservationeasementandrestrictivecovenantwhichshallbesubjecttonegotiationbytheparties.Thepartiesagreetoworktogethertodeterminewhetherthesubdivisionandlocationandextentformotorizeduseshallbeeffectivepriortooruponclosing.IntheeventGypsumacquiresthePropertypriortofulfillmentoftermsandconditionshereofsuchacquisitionisatGypsum’ssolerisk.IfthepurchasefailstomeettheconditionsofthisAgreement,Eaglereservestherighttowithholdorwithdrawitscontribution.b.Gvsum:GypsumwillconductitsduediligenceinaccordancewiththePurchaseAgreement.‘t.ConservationEasementandRestrictiveCovenant.PriortoclosingonthePropertyandCountyfundingaportionofthepttrchasepriceandtransactioncosts,thepattiesshallagreetotheformofaconservationeasementtoberecordedagainstaportionoftheProperty.ThepartiesagreethattheportionofthePropertytobeconservedthroughaconservationeasementshallnotbeusedasamotorvehiclecourse.Further,priortoclosingontheProperty,thepartiesshallagreetotheformofarestrictivecovenantwhichtheTownhasagreedtogranttoCountythatwillberecordedagainsttheremainderoftheProperty.TherestrictivecovenantshallrequirethattheTown(i)ensurethatthePropertyremainsopentothepublicsubjecttoseasonalorothernecessary
closures;and(ii)employgoodlandmanagementtechniquesinitsmanagementandoperationoftheProperly.Further,therestrictivecovenantshallprohibitfuturesubdivisionasweltasverticaldevelopmentontheProperty.exceptforfacilitiesthatmaysupportpermittedusesonthePropertyandasagreedtobythepartiesintherestrictivecovenant.TheconservationeasementandrestrictivecovenantshallrequirethattheTownandCountywilleachberefundedtheirrespectivecontributionstothepurchasepriceandtransactioncostsiftheTownattemptstoconveyorconveysthePropertytoathirdpartywithoutapprovalofCounty.SuchapprovalbyCountymaybewithheldinitssolediscretion.further,therestrictivecovenantshallincludelanguagetoaddresschangesinusethatrequireapprovalfromCounty.ThepartiesagreethattheportionofthePropertytobeencumberedbyarestrictivecovenantisnotandshallnotbeconsideredOpenSpaceland.5.PtirchaseAgreement.Thepartiesagreetoworktogethertoidentifyappropriatetimelines,whichmeettherequirementsofthisAgreementandthePurchaseAgreement,concerningduediligence,timingforsubdivisiontocreatetheSellerParcelandclosing.6.ManagementofProper1Interests.a.ThePropertywillbeownedbyGypsumandGypsumshallberesponsibleforexpensesassociatedwiththeownership,operationandmanagementofthePropertyuponClosing.AllproceedsgeneratedthroughthePropertywillremainwithGypsumandwillbeusedtomanagerecreationaluseatidhabitatprotectionontheProperty.TheTownortheTownthroughitsdesigneeshallpaythecostofinstallingwildlifefriendlyfencingtoprotecttheconservationeasementpropertyonatimelineagreedtobytheparties.b.MannementPlan.ThepartiesshalldevelopamanagementplanforthatportionofthePropertytobeconservedthroughaconservationeasement.ThatmanagementplanmayaddressthepreservationofthenaturalfeaturesoftheProperty,theprotectionofwildlife,andshallgenerallyprovidefortermsofmanagement,seasonalclosuresandnoxiousweedcontrol.Eagleshallhavenoresponsibilityformanagementorotherexpensesafterclosing,ThepartiesagreethattheentirePropertyshallbesubjecttogoadlandmanagementpracticesbytheTownandanydesignee,tenant,licenseeandthelike,whichmayincludeseasonalclosuresandotherlandmanagementtechniqueswhichshallbedocumentedinamanagementplanfortheTownParcel(definedinthePurchaseAgreement).TheTownanticipatescreatinganadvisorymanagementcommitteefortheTownParcelandCountyshallhavetheright,butnottheobligationtoparticipateonthatcommittee.c.TrailGulchRoadisaCountymaintainedtoadthatrunsthroughtheProperty.ThepartiesagreethatCountywillnotberequiredtomodifyitscurrentmaintenancescheduleorthelevelofmaintenanceoccurringonTrailGulchRoadasaresultoftheacquisitionofthePropertybytheTownorinresponsetofutureusesthatmayoccurontheProperty.Specifically,Countywillcontinuetogradetheroadandaddressdrainage
one(I)timeeachyear.Further,theTownacknowledgesthataspanoftheLocationandExtentprocessorotherpossiblefuturelanduseapprovalsthatmaybesoughtbytheTown,guardrails.surfacing,signageorotherimprovementstotheroadmayberequestedorrequired.ThesameshallbeaccomplishedbytheTownoritsdesigneeatitssolecostandexpenseandEagleshallhavenoresponsibilitytherefor,U.MotorizedTrack.ThepartiesunderstandthattouseanyportionofthePropertyasamotorizedtrackalocationandextentreviewisrequiredfromCounty.TheTownoritsdesigneeshallberesponsibleforpreparingallsubmittalmaterialsorotherdoctimentsinconnectionwiththeapplicationforalocationandextentreviewandshallberesponsibleforanyandallcostsassociatedtherewith.TheTownoritsdesigneeshallberesponsibleforobtainingapprovatfromthecurrentownertosubmittheapplication.Further,theCountyshallbeentitledtoreviewandapprovetheformofleaseorotheragreementandanyamendmentstheretobetweentheTownandtheRockyMountainSportRidersorothersimilargroupthatmayenterintoanagreementwiththeTownforuseandmanagementofalloraportionoftheProperty.ThesereviewandapprovalrightsshallsurviveclosingontheProperty.e.GypsumoritsdesigneewillinstallsignageatthePropertyacknowledgingthecontributionfromEagleCounty.7.MiscellaneousProvisions.a.Ifanypart,term,orprovisionofthisAgreementisheldbyacourtofcompetentjurisdictiontobeillegalorinconflictwithanyfederallaworlawoftheStateofColorado,thevalidityoftheremaIningportionsorprovisionsshallnotbeaffected,andtherightsandobligationsofthepartiesheretoshallbeconstruedandenforcedasiftheAgreementdidnotcontaintheparticularpart,termorprovisionheldtobeinvalid.b.NothinginthisAgreementisintendedtocreateorgranttoanythirdpartyorpersonanyrightorclaimfordamagesortherighttobringormaintainanyactionatlaw.c.NopartyheretowaivesanyimmunityatlawincludingimmunitygrantedundertheColoradoGovernmentalImmunitiesAct.U.ThisAgreementisintendedasthecompleteintegrationofallunderstandingsbetweenthepartiesandconstitutestheentireagreementbetweenthepartieshereto.e.ThisAgreementmaybechangedormodifiedbywrittenagreementoftheparties.f.Subjecttotheapprovalsthatarerequiredassetforthherein,thepartiesheretorepresentthatallfundsnecessaryforcompliancewiththetermsofthisAgreementhavebeenorwillbebudgeted,appropriated,andotherwisemadeavailableinaccordancewith
thetermshereof.Anyfinancialobligationsthatmayarisehereunder,whetherdirectorcontingent,shallonlyextendtopaymentofmoniesdulyandlawfullyappropriatedbythegoverningbodiesofthepartieshereto.ShouldanypartyheretofailtoparticipateinthisAgreement,thatpartyshallreceivenointerestinthePropertyasspecifiedherein.NotwithstandinganythingtothecontrarycontainedinthisAgreement,nopaymentwillbemadeforanyperiodafterDecember31stofanycalendaryearwithoutthewrittenapprovalinaccordancewithabudgetadoptedbytherespectiveBoardsofthepartiesincompliancewiththeprovisionsofArticle25,Title30oftheColoradoRevisedStatutes,theLocalGovernmentBudgetLaw(C.R.S.§29-1.101etseq.)andtheTABORAmendment(ColoradoConstitution,ArticleX,Sec.20).g.Anynoticesorothercommunicationsrequiredorpermittedtobegivenhereundershallbegiveninwritinganddeliveredpersonally,byU.S.mail,orbyelectronicmailtotheattentionoftheindividualsbelow,ortosuchotheraddressesasanypartydesignatesbywrittennotice.Noticeshallbedeemedgivenonthedateofpersonaldeliveryorelectronicmailing,orfive(5)daysfromthedateofmailingbyU.S.mail.NoticetoEagleCounty;TobySprunk,OpenSpaceDirectorP.O.Box850500BroadwayEacle,CO81361Toby.sprunkeaglecounty.usNoticetoGypsum:JeffShroll,TownManager50LundgrenBlvd.P.O.Box130Gypsum,CO80137Jeff@townofgypsum.comh.AlthoughEagleCountymayfundaportionoftheacquisitionofthePropertyasdescribedinthisAgreement,nothinginthisAgreementshallbeconstruedtomeanthatanylanduseapprovalsrequiredasaconditionofclosingorlaterdesiredbytheownerofthePropertyhavebeengivenapprovalbyEagleCountyinitsgovernmentalcapacity.OwneroftheProperty,GypsumoritsdesigneeshallbesolelyresponsibleforobtainingallapprovalsnecessaryforclosingorthelawfuluseoftheProperty,includinganylocationandextentreview.Nothinghereinshallbeconsideredpre.approvalby’EagleCountyofthesame.Notwithstandingtheforegoing,shouldsuchlanduseapprovalsbedelayedordenied,GypsummayterminatethisAgreementandthePurchaseAgreementandneitherpartyshallhaveanyongoingobligationshereunder.i.AnyprovisionsofthisAgreementwhichrequireobservanceorperformanceafterthedateofclosingforthePropertyshallcontinueinforceandeffectfollowingtheclosingdate.j.Therecitalssetforthaboveareincorporatedhereinbyreference.
INWITNESSWHEREOF,thisAgreementisexecutedandenteredintothedayandyearfirstabovewritten.TOWNOFGYPSUM,COUNTYOfEAGLE,STATEOFCOLORADOSTATEOFCOLORJDO,byandthroughitsBoardofCountyCornmisslonersSteveCarver,MayorTownofGypsumATTEST:DanetteSchIegiTownReginaO’BrienEagleCountyClerk
EXHIBITA
Dry Lake Parcel
Seller Parcel
Conservation Easement()iFeet
0 240 480
Access Easement to Sellers Parcel
XX Conservation Easement Fence
Conservation Easement =116.88 Ac
Town Parcel =157.46 Ac
Seller Parcel =5.0 Ac
Dry Lake Parcel
Diveway
County Road
The mewa taktfly eeE.cbCee GAS fl.p.fl.eSL
