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HomeMy WebLinkAboutC81-002 Receipt and Option Contract.v441sol, The printed portions of this form approved by the Colorado Real Estate Commission (sc 26-12-77) For use in sale of VACANT LAND ONLY RECEIPT AND OPTION CONTRACT (VACANT LAND) February 18 1981 RECEIVEDFROM Eagle County, Colorado _ Purchaser CdK1)fWMMISMMxthe sum of $ 5 , 000 _ 00 , in the form of a Check tobeheldby Eagle County Treasurer in hisXX?b vWYr$3(Ye account, as earnest money and part payment for the following described real estate situate in the Countyof Eagle , Colorado, to wit: See Exhibit A attached hereto and hereby incorporated herein by reference with all easements and rights of way appurtenant thereto, which property purchaser agrees to buy upon the following terms and conditions for the purchase price of 35 . 2 50 . 00 payable as follows: $ 5 , 000 . 00 hereby receiptedfor3XXXXXXXXXXXXX with the balance of $30,250.00 payable I n bankable funds at closing. If a note and trust deed or mortgage is to be assumed, the purchaser agrees to apply for a loan assumption if required and purchaser agrees to pay (1) a loan transfer fee not to exceed $ N/A and (2) an interest rate not to exceed _% per annum. If the lender's consent to a loan assumption is required, this contract is expressly conditioned upon obtaining such consent without change in the terms and conditions of such loan except as above stated. If a secured or unsecured loan is to be carried by the seller, seller shall not be obligated to carry said loan for any person or entity in lieu of the purchaser named herein. Pricetoinclude: All property described in Exhibit A hereto. xXX�CiF'€XIY�XoCdb}bb}iXf%Acurrent commitment for title insurance policy in an amount equal to the purchase price, at seller's option and expense, shall be furnished the purchaser on or before ),t,hrnary 25 19 8lX0fiX%KM&MXMYH(MMKKtXa YaNcMaXaMeXX seller will deliver the title insurance policy to purchaser after closing and pay the premium thereon. 2. Title shall be merchantable in the seller, except as stated in this paragraph and in paragraph S. Subject to payment or tender as above provided and compliance with the other terms and conditions hereunder by purchaser, the seller shall execute and deliver a good and sufficient general warranty deed to said purchaser _U on March 2 , 19or, by mutual agreement, at an earlier date, conveying said property free and clear of all taxes, except the general taxes for 19 81 payable January 1, 19 8 2 and except none free and clear of all liens for special improvements now installed, whether assessed or not; free and clear of all liens and encumbrances except: None and except easements for: None and subject to building and zoning regulations and the following restrictive covenants: None 3. General taxes for the year of closing shall be apportioned to date of delivery of deed based on the most recent levy and the most recent assessment. Prepaid rents, water rents, sewer rents, and interest on encumbrances, if any, 140, shall be apportioned to date of delivery of deed. No. SC 26-12A7. Receipt and Option Contrect(Vaoanl Land)—Eradfotd Publishing Co., 15165 West 44th Avenue.Golden. 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L ..TH. T,Q,4(!',7T NO. 55 6SEC- 77 0 IV .3 ) j / V. f 9 Flo 'OO CcAl. fioamo wv 14"caA/ V j ���•� Tim C 7� Q. 55 • � BEAR/NG FOR Tf�/S SU.Qt/�'Y .� f,� `YES ESTABL /S�YE.O FROM E.i�/ST/�t/G � �� E CORi!/E•4S G�� SG/RVE Y .BY 0.4!//O L . BE.�I.P ?EG /ST,�,4Ed Sli�?VE YO R � jn • AD "r4 '?':''tom♦tea C� i 4 J Exhibit B to Receipt and Option Contract 9. A. Purchaser agrees that in the event it becomes necessary under the Eagle County Airport Master Plan to re- locate Sellers' navigational beacon, which is presently located on property adjacent to Purchasers land, Purchaser will grant Seller, its successors and assigns, without charge, an easement for such beacon and related navigational aids and maintenance thereof on Purchasers property at a location mutually satis- factory to Seller and Purchaser. Such easement shall provide that if the use of such easement is discontinued for five (5) years, the easement shall be extinguished and revert to Purchaser. 9. B. This contract is expressly contingent upon the receipt by Purchaser of an updated appraisal and review appraisal, acceptable to Purchaser and Seller, prior to clos- ing, indicating a fair market value of $35,250.00 for the property being purchased hereunder. 11qd 9. C. It is the intent of the parties notwithstanding, the use of the words "Contract", "Purchaser", and "Seller", that in the event of a default by the Purchaser, the property owners sole remedy, if any, shall be limited to the retention of the earnest money deposit described in this Contract as liquidated damages. 9. D. Purchaser agrees that Seller is entitled to lease space and/or provide air carrier service to the Eagle County Airport on an equal standing as any other party seeking to serve the airport or attempt to lease space that may be offered in the future. 9. E. The provisions of 9. A. and 9. D. are intended to survive the closing and transfer of the property by Deed and are deemed to be continuing contractual obligations and benefits between the Purchaser and Seller. Purchaser: Seller: EAGLE COUNTY ROCKY 14OUNTAIN_„AIRWAYS By: By: