HomeMy WebLinkAboutbocc.ord.017.1998AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO AUTHORIZING THE CHAIRMAN
TO EXECUTE THE NECESSARY DOCUMENTS FOR THE SALE OF PITKIN
COUNTY'S PORTION OF WHAT IS KNOWN AS THE
RICHARD 3RD LODE, M.S. #6331
ORDINANCE #98-17
RECITALS
1. Pitkin County (hereinafter the "County") has equal ownership with Jack Kaufman
in the Richard 3rd Mining Claim, located in the East Maroon Creek valley in Pitkin County,
Colorado.
2. The County has been approached by Jack Kaufman to sell their mutual interests in
the development rights associated with the Richard 3RD mining claim to Scott Writer Real
Estate, Inc. The Contract For the Sale and Purchase of a Transferable Development Right is
attached as Exhibit A.
3. As part of the contract, Kaufman will be transferring his interest in the Richard
3RD to the County.
3. It is in the County's best interest to execute the contract to sell their mutual
interests in the development rights associated with the Richard 3RD mining claim.
NOW THEREFORE IT IS HEREBY ORDAINED, that the Board of County
Commissioners of Pitkin County, Colorado authorizes the chair to execute the necessary
documents in order to complete the sale of the development rights and acquire Kaufman's
interest in the Richard 3RD by executing the contract in substantially the same form as attached
in Exhibit A, and to execute such further documents as may be necessary to complete the
transaction.
INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE
22ND DAY OF APRIL, 1998.
NOTICE OF PUBLIC HEARING PUBLISHED IN THE WEEKEND EDITION
OF THE ASPEN TIMES ON 25TH DAY OF APRIL, 1998.
APPROVED UPON SECOND READING AND PUBLIC HEARING ON THE
13TH DAY OF MAY, 1998.
PUBLISHED AFTER ADOPTION IN THE WEEKEND EDITION OF THE
ASPEN TIMES ON THE 20th DAY OF JUNE, 1998.
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Ordinance #98-
Page 2
ATTEST:
Jea ette Jones
De ' ty Clerk
APPROVED AS TO FORM:
Deborah Quinn
Assistant County Attorney
rich3ord.doc
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
•
Dorothea Farris
Chair
Date: ‘ - LZ - 98'
Suze Konch
Cou y Manager
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CONTRACT FOR THE SALE AND PURCHAS
OF A TRANSFERABLE DEVELOPMENT RIGHT ;
Agreement. This Contract dated this 30th day of January, 1998 is between Scott Writer
Real Estate, Inc. ("Purchaser") which hereby agrees to buy and, Jack Kaufman and Pitkin County
("Seller") who hereby agree to sell, for good and valuable consideration, on the terms and
conditions stated herein, one Transferable Development Right ("TDR") arising from the following
described property:
Exhibit
1
The RICHARD 3RD Lode, USMS # 6331, in the Maroon Mining District,
Pitkin County Parcel ID # 2911-191-00-001,
(the "Real Property"),
which is located in the Rural/Remote Zone District of Pitkin County, Colorado as defined in
Ordinance No. 95-24 of the Pitkin County Board of Commissioners as amended by Ordinances
Nos. 96-37 and 96-43 (collectively the "Ordinance"), to be evidenced by an Irrevocable Certificate
of Transferable Development Right (the "Certificate"), when issued, in the form of the attached
Exhibit A.
1. Purchase Price. The purchase price shall be $100,000.00 (the "Purchase Price"), payable as
follows:
(a) An earnest money deposit ("Earnest Money") in the amount of $2,000.00,
shall be paid to Land Title Guarantee Company ("Escrow Agent" and "Title Company") within
three days of the execution hereof. The Earnest Money received from Purchaser hereunder shall
be placed by Escrow Agent in a federally insured interest bearing escrow account, and interest
earned thereon shall accrue for the benefit of Purchaser, unless Purchaser defaults under the terms
of this Contract, in which case, interest earned thereon shall accrue to the benefit of Seller. For tax
reporting purposes, Seller's Social Security or Tax Identification Numbers are SPe.t. t4iJ 1 Any.)
'3 Si— 3fo-0a4J
The closing services fee, which shall not exceed $300.00, will be shared equally
between Purchaser and Seller.
At closing, Purchaser shall pay all other closing costs, including the documentary
transfer fee, if any, and all recording fees for Deed of Development Rights and Assignment of
Irrevocable Certificate of Transferable Development Right, as defined below.
(b) The balance of the Purchase Price, $98,000.00, subject to adjustment for the
closing fee. will be Paid, in cash, at closing, subject to the provisions of Paragraph 2. below.
(c) The purchase price, less Seller's closing cos 1 be distributed as set forth in the addendum to this contract.
2. The Certificate. Un or betore 1 8 Seller will a sQ Pitkin
County for the issuance of the Certificate by providing all inf�equir ed ty PPt County,
under the Ordinance, including the recording of the Deed Restriction in the form of Exhibit B.
The Certificate must be issued to Seller and available in original form for all required purposes
under Paragraph 3. below on or before bbitial, 1998 or Purchaser will have the right to
terminate this Contract without penalty and receive a full refund of the Earnest Money.
(Yl t`� S �,,•-e 1 s \C
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3. Closing. U
a) Date. The date of closing ("Closing Date") of this Contract shall be
3, 1998 or such earlier date as the parties shall mutually agree. At Closing, all monies due
Seller from Purchaser will be paid along with the Earnest Money Deposit, provided all the
requirements of this contract are complied with by Seller.
(b) Transfer and Conveyance Requirements. Subject to payment or tender
as provided above and compliance by Purchaser with all other terms and provisions hereof, the
Seller agrees to:
(i) Certificate. Deliver the Certificate and endorse same to indicate the
assignment of the Certificate to Purchaser.
(ii) Deed. Convey to Purchaser the Transferable Development Right by
a Deed of Development Rights and Assignment of Irrevocable Certificate of Transferable
Development Right ("Deed") in the form of attached Exhibit C.
(c) Taxes and Assessments. General property taxes for the year of closing,
based on Seller's best estimate, discussions with the Pitkin County Assessors' Office, for the Real
Property will be paid by the Seller.
4. Reference to Real Property. The Real Property described above is solely as a
reference to the above -described TDR. Purchaser is not purchasing the Real Property and is only
purchasing the described TDR. Purchaser's acquisition of "Real Property Interests" are only insofar
as defined as such by the acquisition of TDR and the rights in the Real Property that support the
existence and transfer of same under applicable law.
5. Time of Essence. Time is of the essence hereof.
6. Default by Purchaser. If a check received as earnest money hereunder or any
other payment due hereunder is not paid, honored or tendered when due, or if Purchaser shall fail
to consummate the purchase of the TDP for any reason other than: (a) failure of conditions stated
in this Contract; (b) default by Seller; or, (c) any other contingency specifically provided in this
Contract relieving Purchaser of its obligation to consummate the purchase, Seller may elect to treat
this Contract as terminated, in which case all payments and things of value received hereunder,
together with accrued interest, shall be forfeited and retained on behalf of Seller as liquidated
damages which shall be Seller's sole remedy.
7. Default by Seller. In the event Seller shall fail to consummate the sale for any
reason except Purchaser's default, this Contract shall be deemed terminated, in which case all
payments received hereunder, plus any accrued interest, shall be returned to Purchaser; or,
Purchaser shall have the tight to seek specific performance, except in the event of pending litigation
or any governmental action which would prevent Seller from selling the TDR. Purchaser's
remedies, regardless of the above described remedy elected, shall also include all appropriate
damages.
8. No Warranty Regarding Receiver Site. The Seller is not, pursuant to any
provision of this Contract, making any warranty regarding the suitability of any Receiver Site, under
the Ordinance, for use of the of the TDR. The Purchaser is solely responsible for selection of an
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appropriate Receiver Site and compliance with the Ordinance regarding the use of the TDR at any
Receiver Site.
9. Litigation. Anything to the contrary herein notwithstanding, in the event of any
litigation arising out of this Contract, the court shall award to the prevailing party all reasonable
costs and expenses actually incurred in such litigation, including attorneys' fees.
10. Assignment of Contract. Purchaser may assign this Contract or any of Purchaser's
rights or interests hereunder. No assignment shall relieve Purchaser, or Purchaser's heirs,
successors or assigns of the obligations to pay the sums due hereunder.
11. Entire Agreement. This Contract and any addenda, amendments or supplements
hereto, if any, constitute the entire contract between the parties. NO REPRESENTATION,
WARRANTIES, UNDERTAKING OR PROMISES WHETHER ORAL, IMPLIED OR
OTHERWISE, CAN BE MADE OR HAVE BEEN MADE BY EITHER SELLER OR ITS
AGENTS TO PURCHASER OR ANYONE UNLESS EXPRESSLY STATED HEREIN OR
MUTUALLY AGREED IN WRITING BY THE PARTIES. ALL ADDENDA,
AMENDMENTS OR SUPPLEMENTS HERETO SHALL BE IN WRITING EXECUTED BY
BOTH PARTIES.
12: Notices. All notices, elections and/or demands required shall be made in writing
and, along with all other documents being furnished or sent, shall be deemed received: (a) three (3)
days from the day on which such are deposited in the United States Mail, Certified Return Receipt
Requested, postage prepaid and addressed to Seller or to Purchaser at the respective addresses given
in this Contract; (b) on the day delivered if by personal delivery to either said party at said addresses;
and (c) by Federal Express the next day after they are sent to either said party at said addresses.
13. Binding Effect/Governing Law. This Contract shall be binding upon and inure
to the benefit of the parties hereto and their respective heirs, personal representatives, successors
and assigns, and shall be construed in accordance with and governed by the laws of the State of
Colorado.
14. Recommendation of Legal Counsel. By signing this document, Purchaser and
Seller acknowledge that this document has important legal consequences and have been advised to
obtain the examination of title and consultation with legal and tax or other counsel before signing
this Contract.
15. Miscellaneous.
(a) Contract Execution/Counterparts-Facsimile. This Contract may be
executed in one or more counterparts which together shall be one and the same instrument,
binding on all parties, although not signatory to the original or same counterpart. Facsimile
transmission of original documents signed by either party shall be deemed valid, provided the party
transmitting the document deposits the original document in accordance with Paragraph above.
(b) IRS Section 897. Seller warrants that it is not subject to withholding as
defined under Internal Revenue Code Section 897 (Foreign Person Transferor), and hereby agrees
to the extent applicable, to execute the form of affidavit described in Internal Revenue Code
Section 1445 and deliver said affidavit to Purchaser at closing.
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(c) Broker. Purchaser is a licensed Real Estate Broker in the State of Colorado
to whom no commission is to be paid. The parties agree that neither party is obligated to pay a
real estate commission as a result of this transaction or as a result of the circumstances leading up
to the execution of this agreement.
(d) Withholding Tax. Seller and Purchaser agree and acknowledge that
Colorado Revised Statute §39-22-604.5 provides that, in the case of any conveyance of a Colorado
real property interest, the person or party providing closing and settlement services shall be required
to withhold an amount equal to two percent (2%) of the sales price or the net proceeds resulting
from such conveyance, whichever is less, when the transferor is a nonresident of the State of
Colorado. Seller shall, to the extent applicable, be obligated to either comply with the withholding
requirements of C.R.S. §39-22-604.5, or provide an affidavit in form and content satisfactory to the
person or party providing closing and settlement services which certifies that Seller is not subject to
the withholding requirements.
(e) Seller Cooperation. Seller agrees to complete, to the best of its ability, all
documents required by the Title Company (Closing Agent) to properly effectuate the transfer of the
TDR described herein.
16. Notice of Acceptance.! I/ Seller shall execute this Contract and return it to
Purchaser on or before Feb 1998. Failure by Seller to return an executed Contract to
Purchaser by said date shall terminate any and all rights which Seller may have had under this
Contract. If Seller does not accept and execute this Contract, in its sole discretion, then Purchaser's
offer shall be null, void, and of no further force or effect, and all earnest money, or things of value
received hereunder, plus all interest accrued thereon, shall be promptly returned to Purchaser.
This Contract is executed by Purchaser this 30th day of January, 1998.
PURCHASER:
Scott Writer Real Estate, Inc.
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PURCHASER INFORMATION:
Scott Writer Real Estate, Inc.
c/o Scott Writer
P.O. Box 9705
Aspen, CO 81612
Seller accepts this Contract this / 3 day o
SELLER:
970-927-5464 Facsimile
970-927-8044 Telephone
Pitkin County
J�ufinan by:
Tide:
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1998.
SELLER INFORMATION:
Jack Kaufman
Box 9715
Aspen, Colorado 81612
303.932.1204
303.932.7190 (fax)
Pitkin County
c/o Tom Newland
530 East Main Street
Aspen, Colorado 81611
970.920.5200
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ADDENDUM
Jack Kaufman shall convey as a part of this transaction, (to be recorded immediately
subsequent to the recording of EXHIBIT B, DEED RESTRICTION and EXHIBIT C,
DEED OF DEVELOPMENT RIGHTS AND ASSIGNMENT OF IRREVOCABLE
CERTIFICATE OF TRANSFERABLE DEVELOPMENT RIGHT), any and all interests
in and to the "Preservation Site" legally described as:
The RICHARD 3RD Lode, USMS 6331, in the Maroon Mining District, Pitkin County
parcel ID # 2911-191-00-001, County of Pitkin, State of Colorado
by Special Warranty Deed to the other seller, Pitkin County as a consideration for
facilitation of the transaction contained in this CONTRACT FOR THE SALE AND
PURCHASE OF A TRANSFERABLE DEVELOPMENT RIGHT.
Recording cost of said deed will be paid by Pitkin County.
Net proceeds from the sale described in the CONTRACT shall be apportioned
forty percent (40%) to Pitkin County and sixty percent (60%) to Jack Kaufman.
SELLER
Pitkin County
4711"44.sf--93-9Sr
Jack Kau&nan `� Dorothea Farris, Chair, BOCC
Date: 6 / — f► p'
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THIS DEED , Made on th i s day of
between
JACK KAUFMAN
of the County of
and
e 1 IE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO
SPECIAL WARRANTY DEED
Sine/s / r
and State of ` O /O /— , Grantor(s),
whose legal address is : 530 EAST MAIN STREET, ASPEN, CO 81611
of the County of PITKIN and State of Colorado , of the Grantee(s):
WITNESS, That the Grantor, for and in consideration of the sum of ( $10.00 )
*** Ten and 00/100 ***
DOLLARS
the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these
presents does grPnt, bargain, sell, convey and confirm unto the Grantee(s), their heirs and assigns forever, all the
real property, together with improvements, if any, situate, lying and being in the County of
PITKIN and State of Colorado, described as follows:
* THE RICHARD 3RD LODE, USMS 6331, IN THE MAROON MINING DISTRICT, COUNTY OF PITKIN, STATE OF
COLORADO. PITKIN COUNTY PARCEL ID #2911-191-00-001
* AN UNDIVIDED 1/2 INTEREST IN
also known as street number
TOGETHER with all and singular and hereditaments and appurtenances thereunto 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 bargained
premises, with the hereditaments and appurtenances;
TO HAVE AND TO HOLD the said premises above bargained and described with appurtenances, unto the Grantee(s),
their heirs, successors and assigns forever. The Grantor, for itself, its successors and assigns, does covenant,
and agree that it shall and will WARRANT AND FOREVER DEFEND the above -bargained premises in the quiet and
peaceable possession of the Grantee(s), their heirs, successors and assigns, against all and every person or persons
claiming the whole or any part thereof, by, through or under the Grantor(s).
IN WITNESS WHEREOF the Grantor(s) have executed this deed on the date set forth above.
YY an--•/
JA KA FMB
STATE OF Colorado )
)ss.
County of PITKIN )
The foregoing instrument was acknowledged before me on this day of 1N e18 /5 % 9 9 O
by JACK KAUFMAN
My commission expires 1 /�io��
ial seal Witness my hand and offi ..
Notary%-ublic
JANrE L.. JOHNSON
Name a Address�TlPF�b Newly eated Legal Description ( 38-35-106.5, C.R.S.)
STATE OF GO
Escrow# 4104y Commission Expires 4/15/2000
Title# 101
Form No. 16 Rev 4-94. SPECIAL WARRANTY DEED
When Recorded Return to: THE BOARD OF COUNTY COMMISSIONERS of
PITKIN COUNTY, COLORADO
530 EAST MAIN STREET, ASPEN, CO 81611