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�`:� PITKItI CTY.RECORDER `
�:
PURCHASE AGREEMF.NT '
�� CA 21(82)
" 1lar 6 4 i3 P19 `4Z ' �
��� THIS AGREF.MENT, made and entered into this �� day oE !r
�r
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k�� � a , A.D. 1982, by and on hehalf of STANFORD
�'_� �
BEALMCAR ereinafter referred to as "Seller"} and the BOARD
.� �
� OE COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO (herein-
�
�" after referred to as "the County").
Y�'.r�
�a` WITNESSET.[�:
�'' WHEREAS, Seller is the owner of the following described
�''�
�`� real property located in PitY.in County, Colorado, to wit:
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�`�� A tract of land being all of Lot 7 and the West twenty
�'�`� feet of Lot S, in Block 19, East Aspen Additional
�. ��•, Townsite, and that land lying between the North line of
�4'� said lots and the road northerly of said Hlock 19, more
�'= fully described as follows: Beginning at the Southwest
�;.
:F�e corner of Lot 7 thence S. 75°09'11" F. 50.09 feet along
�; the South line of Lots 7 and 8; thence ti. 14°50'49" E.
188.06 feet; thence N. 57°25' W. 8.66 feet; thence ;
, �� S, 84°34' W. 44.61 feet; thence S. 14°50'49" W. 175.24
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, �"
Eeet along the west line of Lot 7 to the point of
�t's' beg inning. t,
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(hereinafter called "Property") and
�
t; hP' '„'
F, WHEREAS, the County desires to purchase the same for the �
construction of a jail Eacility, and �
_ :�
�` WHEREAS, the construction of such a facility requires i
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approvals from the City of Aspen in the form of rezoning and �
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plan aoproval, and �
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WHEREAS, the County wishes to condition the acquisition �
u�on receiving such approvals, as well as provide alternate
methods of payment, all as specified herein.
NOW, THEREFORE, in consideration of the mutual bene£its
to be derived herefrom, it is agreed by the parties heretn as
follows:
' 1. Seller agrees to sell, and the County agrees to huy,
the Property, with all improvements thereon and all fixtures
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� on tlie premises for the purchase price of Three Hundred Fifty I
� Thousand ($350,000.00) Dollars, payable �s follows: `;-
_� (a) Ninety Fight Thousand Five Hundred ($98,500.00) ����
� Do.11ars upon the execution of this agreement;
L
� {b) The balance at closing, which shall be at a date
and time arranged pursuant to paragraph 3 oE this
Agreement, hut in no event later than December 31,
a 1982.
� PROVIllED, HOWEVFR, that the County may, at its opti�n, elect
�
� to pay the balance in four (4) equal annual installments of
principal, commencing April 1, .1983 and continuing on the
same day of each year thereafter. The declining principal
:� balance shall bear interest at the rate of twelve (128)
�.. �
percent per annum and accrued interest shall be paya4le, in
addition to sai�9 principal installments, on said principal
.*� paying dates. I£ the County so elects to pay the balance of
, �
the purchase price in installments, a Note and Deed of Trust,
y. � in the form and substance of Exhibits "A" and "B", respec-
i�
� tively, shall be executed and delivered at closing.
i
2. This Agreement is specifically conditioned upon the
County receiving all necessary aoprovals for the construction
of a jail facility on the Property and adjacent lands owned
or in the control of the County. The County shall use its
best eEforts and diligently pursue the requisite approvals.
In the event such aporovals shall not have been obtained on
or beEore November 1, 7982, then the County may declare this
Agreement of no Eurther force and effect and shall recover
all monies paid pursuant hereto. This contingency shall be "`
�;:
conclusively deemed waived unless this Agreement is so
terminated by the County on or before November 1, 1982, in
accordance with the foregoing provisions of this paragraph.
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_°. 3. Closing shall be within forty-five (45) days from �
'�� receipt of the approvals described or on December 31, 1982, t
u whichever first accurs, at a date, time and place mutually ''/�,
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9• agreeable to the parties.
"' 4. At closing, the Seller shall execute and deliver a
�
'�' good and sufficient general warranty cleed conveying a good, i
�'��,-z insurable and marketable title to tha Property, and all '
j"'ri� hereditaments and appurtenances hereunto belonging to the i
��� �
. SeSler, in fee simple, free and clear of all liens and encum- �
e.
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••.� brances, except general property taxes and special assess- �
�� ments of. a current nature and not yet due and payable and
- •i:. ;
�, `�. �
�; subject, only, to the following title exceptions, to wit:
�� governmental rules and regulations, U.S. Patent reservations '
;
� �. and exceptions, terms, agreements, provisions, conditions and
'�I i
�"� obligations set forth in documents recorded as Reception Nos. �
p t 114903 and 182571, respectively, of the Pitkin County, �
. �,l }:
, s�;z Colorado records, rights of tenants in possession, and ease- � :
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7' ments and rights of way of record or situate and in use, and �
- ° subject to encroachment hereafter described.
5. It is understood that a certain cabin and shed
extend within the easterly boundary line of the subject
property and constitute an encroachment upon the property (as
shown by that certain Property Survey prepared by Johnson-
Longfellow & Associates, r7ated April 7, 1982). It is
expressly understood that such encroachment shall not be '
deemed a defect in title, and the title shall be conveyed
subjeet thereto.
6. It is understood that the improvements located upon
the subject property are occupied by month-to-month tenants,
and the title shall be conveyed subject to the rights of
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�: tenants in possession. Seller previously made a verbal ,
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1 commitment to such tenants that hP would provide at least �t:,. ;:�
sixty (60) days written notice prior t� terminating their F__;�'
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� tenancies. Promptly upon execution hereof, seller agrees to `�
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provide written notice to the tenants advising that sixty
� (60) days thereafter their respective tenancies shall be
� subject to termination in accordance with Statute, i.e.,
advising that following such sixty (60) day period, and
thereaEter, such tenancies shali be subject to terminatir�n
� upon ten (10) days notice given prior to the end of the then
�.
u� applicable month. Seller expressly warrants and reoresents
•�,
� � that the tenancy of all parties occupying the oremises, or
� any part thereof, is limited to a month-to-month basis.
'�� 7. Title insurance shall be provided by Seller at his
��
� expense. A title insurance commitment (the same being
Order #10915, issued by Stewart Title Guaranty Company) is
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submitted herewith. By execution hereof, the County acknowl-
1
edges that title to the property, as evidenced by such title
_ insurance commitment, is merchantable and free of defects.
8. General property taxes and soecial assessments, if
� any, for the ,year of closing shall be pro-rated to the date
of closing based on the most recent levy and assessment.
if any
The County shall pay the real estate transfer tax,/and all
other closing costs shall be paid by the party customarily
assuming the same.
9. The County may enter upon the property at reasonable
times for surveying and other purposes reasonably related to
this transaction and the processinq of the land use appli-
cation described above.
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10. Nothing herein is intended to be, nor sha11 any- �
� thing herein contained be construed, as an obligation, debt, �
� ;.;.: -
commitment or liahility of the County that is prohibited by ,
/:
�.+ the State Constitution or Statutes or the Pitkin County Home �
��F
Rule Charter.
� 11. In the event the premises shall be damaged by fire
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or other casualty prior to the time of closing, in an amount
�� of not more than ten (108) percent oP the total purchase
. i
price, the Seller shall be obligated to repair the same
F Uefore the date herein provided Eor delivery of deed. In the
��
;� event such damage cannot be repaired within said time, or if
�� �'� damage shall exceed such sum, this agreement may be cance.11ed
� at option oE the County. Shou.ld the County elect to carry �
`,� out this Agreement, despite such damage, the County shall be
,� �,
entitled to all the credit for the insurance proceeds.
12. The Warranty Deed to be delivered at closing shall
�'��.
be in the form and substance of Exhibit "C" attached.
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1 IN WITNESS WHEREOF, the parties have executed this
Agreement the day and year above first written.
:�
The Seller:
�1�.LOn �1�
a ord( ealmear
� • The County:
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�' ��+c ,i�.J BOARD OE COUNTY COMMISSIONERS
�: � � �r � PITKIN COUNTY� COLORADO
( �.� �} 1J! ;..;.�% .
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a��'• a�:° ._ ey. �—
_- •'-. .•'�� �FI en 'n K d
�. [.• '� •.......:••'.�� Chairwoman
�' l.ul;�. .
A���_ J '
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Lewis Scanlan
Deputy Clerk and Recorder
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STATG OE COLORADO )
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COUNTY OF PITKIN j ��"�
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��' The Eoregoing Purcha e Agreement was acknowledged before
me this day of � , A.D. 1982, by
STANFORD B•ALMF.,AR.
Witness my hand and official seal.
�,,,��1l �T��' �`
My commission expires: � � ' ,
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Nota ublic .�,ti,.�'�� �'! .,�� i �
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r�: E Address o£ Votary Pub D ��.:'����;�
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STATE OE COLORADO )
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y COUNTY OF PITKIN )
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The Poregoing Purchase,Agreement was acknowledged bePore
� me this 30 day of April , A.D. 1982, by HELIN
'7 .
KALIN KLANDERUD, as Chairwoman, and LF.WIS SCANLAN, as Secre—
tary, to the BOARD OF COUNTY COMMISSIONERS OE PITKIN COUNTY,
COLORADO, respectively.
� witness my hand and official seal_
,,, , My commission expires: November 26, 1983
,�i+���� �..s''`�-� �
_�c, ' GT4,�. :` �- otary P lic
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:',,':vB((� Post Office Box 2584
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�:�Cp�a�pOQ,-. AsPen, Colorado 81612 _
.... Address of Notary Public
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'r INSTALLPIL•'N'P PkOMISSORY NOTG '
� � .
�Y $251,500.00 Aspen, Colorado _ _, 19II2 , _::�
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. � .
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FOR VALUE RECf'siVEU, the undersigned oromises to pay to
L �
the order of STANEORD F3[iALMRAR, by mai.l, at R.R. $1, Tiox 75,
Paonia, Colorado 81428, or at such other olace as the holder �
'� of this note may designate, the prinCipal sum of TWO' HUNDRED �
FIFTY-0NG THOUSAND FIVE HUNDRED ($251,500.00) DOLLARS, toge- �
ther with interest from the date hereof on the unpaid balance �
� �until due at the rate of 128 per annum. �
' P
,' Principal shall be payable in four (4) equal annual �
��
t'
' ^•f principal installments of $62,875.00 each. commencipg �
�. '• 3
°' April 1, 1983 and continua.ng on the same day of each year �
,� �
thereafter, until fully paid. Accrued interest on khe ?
� � 4
�k'� declining orincipal balance, at the rate oE 12S oer annum, s
-. �
• �.' shall be payable, in addition to said princioal installments, h
5
7� ,
on said principal paying dates. �
�1 All payments shall be credited first to accrued and �
unpaid interest and the.remainder to unpaid principal. The �. ,
undersigned shall have the right to preQay any amount at any �
time, without �enalty. Prepayment shall not reduce the ��
• amount or postpone the payment date of the`next regularly due
�
- i�stallment, but shall be credited to the last installment
due on this note. '
Failure to pay any installment, or any part thereof,
when due, 'shall cause this entire note to become due and .
collectible at once, at the option of the holder hereoE, in
- which case principal and accrued interest shall, f.ram and
� after the date of. such default, bear interest at the rate of
188 per annum.
EXHIIIIT "A"
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The �aaker�, surel:ies, yuaranl•ors and r_ndorsers ot- this .
note, jointly and �everally, waive pre.>entment for payment,
notice o£ nonpayment, pr�test and notice oE protest, and in
the event of deEault in the payment of this note or in the
performance of the provisions of any instrument given to �
secure the same, the undersigned agree to pay all costs o£
collection, including a reasonable attorney's fee. •
, BOARD OF COUNTY COMMISSIONCRS �
PITKIN COUNTY, COLORADO 3
. �
By: ' �,
E Flelen Kalin Klanderud
,�:
� Chairwoman (
�`, .
ATTEST: '
,: .' .
� .
: ,�. •
Lewis Scanlan
X Deputy Clerk and Recorder
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';:'�:� '��IIIR�NqM:N'f UNH. MaJc Ihis dry ui .1982 ,helwecn �
(�,:.�
t•;�1 130ARU 01� COUW'l1 COPiFITSSJUiJI:R,",, 1'1TKI.Pt Cf1liN'I'Y, CCLORAllO
t;';
f:.;
6�:� wtwxeaddres�ix SOG F.asl' Mai.n Street, Aspen, Cc�lorado 81G11 ,
,�,��' M�d y ofu�e r.,i�:,n.una we t1��iic T�us�e�nr � Cowny of Y iClcin
in tlu S�ate o�CoH�radn,p:�rty of�be secunJ pan,Wilnesselh:
��� TFIAT,WIICRIiAS,TAesaiJ 13oatd of County Cammissloners, Pitkin County, Colorado �� �
�;;7 . i�
�'i"-� ha 5 cxeculed 1 C S pmmi�sory noic bcaring cven Jaic h�rnviUi,for the priMipal sum of �
gg 1 '
� TWO FIUNDRI:D FII�TY-O:1F. THOUSAND I'IVE 11UNllR1iD ($251,SU0.00)------=-----------DoUars,
j�� payuble�othcorJ�ru( STANPOkb ISL•'At1�1LiAlt $
;� whosc,ddressu R.R. U1, Bor. 75, Paonia, Colorado 81428
�n afttr ibe dalc hereuf,wi7h intuesi thercon from�be Jale thercof -
n atthcra�cof '-12— perccntperannum�gaUlc PLinclpal Sl�all bc payable in Eoui (4)
� equal annual principal installmenls oE $62,375.00 each, commencing April 1, 1983
�-�
� and continuing on the same day of each ye�r thereafter, until fully paid. Accrued �
'''� interest on the declining principal balance, at the raLe of 12x per annum, shall
,t�,- bc payable, ia addition to said principal installments, on said principal paying i
�;� dates.
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AND W f ICRl:AS,Tl�e said parly of the firsl parl 15 Jcsiruus of securing paymen�uf t��e . '
��,'.� princiryll and int<rcs�o(siiJ promissory nutc in whose hanJs soevcr thc saiJ note ur:my u(thcm may bc. '•
�`. i$� NUW.THEREFORE,The said pury o(the firsl paot,in eonsideration of�he premisrs and for thc purpoze afortsaid, i�
. ;.'i� d�s bereby gnn�.bargain,xil anJ convey���o�no s,sd�any or mo sr�on�r�n���n�:i toro��r.Ibc Wllowing JcscribcJ ;
4.;_� PfOPlflY,511Ye1t10�I1CCOUOlYO� PiCkirt .Sla�eolColur:do,tuwit: i
..�
A tract of land being all of Lot 7 and tlie West twenty feet
�� of Lot 8, in Block 19, East Aspen Additional To�msite, and
��.
� 4, • that land lying between the Noreh line of said 7.ots and tlie
� �•.� road northerly of said Block 19, more fully described as `
�� follows: Be'ginning at the Southcaest corner of Lol• 7 t}lence ±
:�.,$_� S. 75°09'll" n. 50.09 feet along ine Soutn line oL Lots 7 i
t;> and 8; thence N. 14°50'49" E. 188.06 feet; thence N. 57°25' W. 1 .
. 8.66 feet; thence S. 84°34' W. 44.61 feet; thence S. 14°50'49" W. i'.
j ': 175.24 feet along the west line o£ Lot 7 to th'e point of beginning.
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�� WARRANTY DEED i �
� t
�� STANFORD BEALMEAR, of Paonia, Colorado, grantor, for TEN I
�� DOLLARS AND OTHCR GOOD AND VALUA[iLE CONSIDF.RATION, in hand �
i; �aid, hereby sells and conveys to the BOARD OE COUNTY `;:`.
�� , COMMISSIONERS, PITKIN COUNTY, COLORADO, whose address is 506 ',''f"'
Fast Main Street, Aspen, Colorado 81611, grantee, the follow- r'.:�
y; ing described real nrooerty situate in the County of Pitkin,
State of Colorado, to wit:
A tract of land being al.l of Lot 7 and the West twenty ;
feet of Lot 8, in Block 19, East Aspen Additional �
l Townsite, and tha� land lying between the North line oE
said lots and the road northerly of said Block 19, more
fully described as follows: Deginning at the Southwest
� corner of Lot 7 thence S. 75°09'11" E. 50.09 feet along
�� the South line of Lots 7 and B; thence N. 14°50'49" E.
f 186.06 feet; thence N. 57°25' W. 8.66 feet; thence
S. 84°34' w. 44.61 feet; thence S. 14°50'49" W. 175.24 �
feet along t•he west line of Lot 7 to the point of
beginning.
€7
TO HAVE AND TO HOLD the same, together with all appurte-
��
�+" � nances and privileges thereto belonging or in anywise thereto
;� appertaining. Grantor warrants title to the same, except and �
subject to governmental rules and regul3tions, U.S. Patent
,��� reservations and exceptio�s, exceptions, terms, agreements,
'� provisions, conditions and obligations set forth in documents
:� recorded as Receotion Nos. 114903 and 182571, respectively,
of the Pitkin County, Colorado records, easements and rights
• � of way of record or situate and in use, the rights oE tenants
�;, in possession, (grantor warrants that no tenancy, other than
,s�' month-to-month tenancies, exist in connection with the prop-
. L erty), subject to the encroachment shown on Property Survey
prepared by Johnson-Longfellow & Associates, dated April 1,
'i 1982, and general property taxes and special assessments, if
any, of a current nature.
- Signed this day of _ , A.D. 1982.
Stanford eealmear
STATE OF COLORADO )
) ss.
COUNTY OF )
The foregoing instrument was acknowledged beEore me this
day of , A.D. 1982, by STANFORD
BEALMEAR.
Witness my hand and official seal.
My commission expires:
Notary Public •
Address of Notary Public ;
- EXHIBIT "Cr'
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