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HomeMy WebLinkAboutR03-122 Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch Housing Commissioner moved adoption of the following resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2003 /o7a. RESOLUTION APPROVING THE FORM GENERALWARRANTY DEED, FORM PARTIAL RELEASE OF PROPERTY FROM LAND LEASE AND OPTION AGREEMENT AND FORM MEMORANDUM OF ACCEPTANCE OF DEED RESTRICTION AGREEMENT FOR THE OCCUPANCY AND RESALE OF MILLER RANCH HOUSING. WHEREAS ,Eagle County, Colorado ("County'') is a political subdivision of the State of Colorado ("State"), duly organized and existing pursuant to the laws and the Constitution of the State; and WHEREAS, the County owns Tract D, Berry Creek/Miller Ranch Planned Unit Development, Eagle County, Colorado (hereinafter the "Property"); and WHEREAS, Berry Creek Limited Liability Company (`Berry Creek") is a Colorado Limited Liability Company and is the developer of the Property pursuant to the terms of a Development Agreement dated March 12, 2002 and a Land Lease and Option Agreement dated August 20, 2002 which shall collectively be referred to as the "Agreements;" and WHEREAS, pursuant to the Agreements the County anticipates conveying portions of Tract D to Berry Creek; and WHEREAS, in anticipation of the conveyance of portions of Tract D to Berry Creek, County has prepared certain form documents to effectuate the transfer of the Property. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT the Board hereby approves the form of general warranty deed attached hereto as Exhibit "A"; and THAT the Board hereby approves the form of partial release of property from land lease and option agreement attached hereto as Exhibit "B"; and THAT the Board hereby approves the form Memorandum of Acceptance of Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch Housing attached hereto as ~ • Exhibit "C." THAT this Resolution is necessary for the health, safety and welfaze of the people of Eagle County, Colorado. MOVED, READ AND ADOPTED by the Boazd of Cf~unty Commissioners of the County of Eagle, State of Colorado, at its regulaz meeting held thi~~~'Lflay of,~~~~~~003. ~~ o~ H ATTESTa Clerk of the Boazd of County Commissioners OF EAGLE, STATE OF COLORADO Through its Board of County Michael L.Gallagher, Chan By: Tom C. tone, Co 'ssioner By: Arn M. Menconi, Commissioner Commissioner ~ seconded adoption of the foregoing resolution. The roll having been called, the a was as follows: CommissionerMichael L. Gallagher ~~~~ Commissioner Tom C. Stone ~ Commissioner Arn M. Menconi This Resolution passed by ~~~~ ~ ~~ f _~ote of the Board of County Commissioners of the County of Eagle, State of Colorado. • WARRANTY DEED This Deed made this day of , 2003, between the County of Eagle, State of Colorado, a political subdivision of the State of Colorado, which is acting by and through its Board of County Commissioners, Grantor(s), and BERRY CREEK LIlVIITED LIABILITY COMPANY, a Colorado limited liability company, whose legal address is 401 Paseo de Peralta, Santa Fe, County of ,New Mexico 87501, Grantee(s): WITNESS, That the Grantor(s), for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) together with other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm unto the Grantee(s), its heirs and assigns forever, all the real property, situate, lying and being in the County of Eagle, State of Colorado, described as follows: LOT ,MILLER RANCH, A RESUBDTVISION OF TRACT D, BERRY CREEK/MII,LER RANCH PUD, ACCORDING TO THE PLAT RECORDED JANUARY 15, 2003 AT RECEPTION N0.820378, COUNTY OF EAGLE, STATE OF COLORADO Also known as street number: TOGETHER, with all and singular and hereditaments and appurtenances thereto belonging, or in anywise appertaining and the reversion and reversions, remainder and remainders, rents, issues and profits thereof; and all the estate, right, title interest, claim and demand whatsoever of the Grantor(s), either in law or equity, of, in and to the above bazgained premises, with the hereditaments and appurtenances; TO HAVE AND TO HOLD the said premises above bazgained and described with appurtenances, unto the Grantee(s), its heirs and assigns forever. The Grantor(s), for itself, its Heirs and personal representatives, does covenant, grant, bazgain, and agree to and with the Grantee(s), their heirs and assigns, that at the time of the ensealing and delivery of these presents, it is well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear from all former and other grants, bazgains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature whatsoever, EXCEPT GENERAL TAXES AND ASSESSMENTS FOR THE YEAR 2003 AND SUBSEQUENT YEARS, AND SUBJECT TO THOSE ITEMS AS SET FORTH ON EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN. The Grantor(s) shall and will WARRANT AND FOREVER DEFEND the above bazgained premises in the quiet and peaceable possession of the Grantee(s), its heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singulaz number shall include the plural, and the plural the singulaz, and the use of any gender shall be applicable to all genders. ~HIBIT ~~~ f~ • In Witness Whereof the Grantor(s) has executed this deed on the date set forth above. COUNTY OF EAGLE, STATE OF COLORADO, By and Through its BOARD OF COUNTY CONIlVIISSIONERS By: Michael L. Gallagher, Chairman ATTEST: Teak J. Simonton Clerk to the Board of County Commissioners STATE OF COLORADO ) ss: COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this day of , 2003, by Michael L. Gallagher as Chairman and Teak J. Simonton as Clerk of the Eagle County Board of County Commissioners. Witness my hand and official seal. My commission expires: Notary Public • EXHIBIT A • TO BE GENERATED BY LAND TITLE GUARANTEE COMPANY AT TIME OF CLOSING • PARTIAL RELEASE OF PROPERTY FROM THE LAND LEASE AND OPTION AGREEMENT BETWEEN EAGLE COUNTY, COLORADO AND BERRY CREEK LIMITED LIABILITY COMPANY THIS RELEASE ("Release") is executed this day of ,2003 by the ~` Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "County") whose address is Post Office Box 850, Eagle, Colorado. WITNESSETH: WHEREAS, the County is presently the owner of certain real property identified on the final plat of Miller Ranch as a Resubdivision of Tract D, Berry Creek/Miller Ranch PUD, County of Eagle, State of Colorado which document is recorded in the records of the Eagle County Clerk and Recorder at reception number 820378 (hereinafter "Property"). WHEREAS, the County and Berry Creek Limited Liability Company (hereinafter `Berry Creek") have entered into a Land Lease and Option Agreement dated August 20, 2002 (hereinafter "Land Lease"), pursuant to which Berry Creek leases the Property from County and a Development Agreement dated March 12, 2002 (hereinafter "Development Agreement's pursuant to which Berry Creek is to develop portions of the Property into a single and multi- family housing development project. WHEREAS, paragraph 8 of the Land Lease grants to Berry Creek the option to purchase all or any portion of the Property subject to the terms and provisions of that Land Lease. WHEREAS, Berry Creek has submitted a request to.County to release portions of the Property from the terms of that Land Lease. RELEASE NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained in the Land Lease: 1, Berry Creek has provided County with written notice of its desire to exercise its option in compliance with the terms of the Land Lease on the following described real property: (INSERT LEGAL DESCRIPTION) 2. County hereby releases all the right, title and interest it has to the real property described in paragraph 1 hereof and the same is hereby fully released from the terms and provisions of the Land Lease to Berry Creek. This Release was executed on the day and year set forth above. EXhiIB~`~ ~ .~ ~ ~J • EAGLE COUNTY, COLORADO By and Through its Board of County Commissioners ;~. By: Michael L. Gallagher, Chairman ATTEST: Teak J. Simonton Clerk to the Board of County Commissioners STATE OF COLORADO ) ss: COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this day of , 2003, by Michael L. Gallagher as Chairman and Teak J. Simonton as Clerk of the Eagle County Board of County Commissioners. Witness my hand and official seal. My commission expires: Notary Public G:~D11M~BerryCreek~Deed Restrictions-Guidlines~releasel.DOC MEMORANDUM OF ACCEPTANCE OF DEED RESTRICTION AGREEMENT FOR THE OCCUPANCY AND RESALE OF MILLER RANCH HOUSING This Memorandum of Acceptance of Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch Housing is dated this day of , 200_ and is executed by and the Buyer(s) of the real property more fully described herein (the "Buyer"). RECITALS: WHEREAS, the Buyer, is purchasing from Berry Creek Limited Liability Company, the Seller, (the "Seller") the following described real property: (INSERT LEGAL DESCRIPTION) also known as and WHEREAS, the Seller of the Property is requiring, as a prerequisite to the closing of the sale transaction for the Property, that Buyer acknowledge and agree to the terms, conditions and restrictions found in those certain instruments entitled Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch Housing recorded on , 2003, at Reception No. of the records for the Clerk and Recorder of Eagle County, Colorado (".Deed Restriction").and Miller Ranch Housing Guidelines adopted by the Eagle County Board of County Commissioners ("Guidelines"). NOW, THEREFORE, as an inducement to the Seller to sell the Property, the Buyer: 1. Acknowledges that the undersigned has carefully read the entire Deed Restriction and Guidelines, has had the opportunity to consult with legal and financial counsel concerning them, and fully understands them. 2. Acknowledges that the undersigned understands that (a) the Deed Restriction runs with the Property; (b) the Deed Restriction and Guidelines, by their terms, maybe amended from time to time by the Board of County Commissioners of Eagle County, Colorado; and (c) the Deed Restriction and Guidelines maybe enforced by Eagle County, Colorado. Eagle County, Colorado (the "Property"); ., 3. Buyer hereby accepts and agrees to be bound by the terms of the Deed Restriction as recorded, and the Guidelines in their entirety and as maybe amended from time to time. 4. The Buyer further agrees Buyer's purchase price for purposes of calculating the maximum sale price pursuant to the Deed Restriction and Guidelines is 5. -Any notice required to be sent to the Buyer under the Deed Restriction shall be sent to: By: (INSERT NAME AND PROPERTYADDRESS) 6. Buyer hereby directs that this memorandum be placed of record in the real estate records of Eagle County, Colorado. IN WITNESS WHEREOF, the Buyer(s) have executed this instrument the day and year first above written. BUYER(S): By: STATE OF COLORADO ) ss: COUNTY OF EAGLE ) The foregoing instrument was aclrnowledged before me this day of 2003, by Witness my hand and official seal. My commission expires: Notary Public 2 • • STATE OF COLORADO ) ss: COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this day of 2003, by Witness my hand and official seal. My commission expires:, Notary Public G:~DHM~BerryCreekWgreements~r-emoofacceptance.DOC ATTEST: ACCEPTED BY: EAGLE COUNTY, STATE OF COLORADO BY AND THROUGH ITS BOARD OF COUNTY COMMISSIONERS By: Michael L. Gallagher, Chairman Teak J. Simonton, Clerk to the Board of County Commissioners