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HomeMy WebLinkAbout1984-008-01/03/1984-AUTHORIZING THE ASSIGNMENT BY ANTHONY GIACOPELLI OF AN AGREEMENT CONCERNING BUS BENCHES µ RESOLUTION 84-8 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE ASSIGNMENT BY ANTHONY GIACOPELLI OF AN AGREEMENT CONCERNING BUS BENCHES WHEREAS, the City of Fort Collins and Anthony Giacopelli entered into an Agreement on the 2nd day of September, 1980, wherein Mr. Giacopelli , as the Contractor, agreed to provide bus benches on the public right-of-way; and WHEREAS, the Agreement was modified by a document entitled Amendment and Addendum, dated the 1st day of April , 1983, providing that the Con- tractor would have the option to renew the Agreement for two successive five-year periods. Such periods would commence on the termination of the original Agreement on October 31 , 1985; and WHEREAS, the Agreement, dated September 2, 1980, provides that "the Contractor shall neither assign any of the rights or delegate any of the duties imposed upon him under the provisions of this Agreement without having first obtained the written permission of the City."; and WHEREAS, Mr. Giacopelli has informed the City that he has entered into an agreement for the sale of his interest in the Agreement to Gary D. Young and David L . Young, whose address is 2372 Wapiti Road, Fort Collins , Colorado; and WHEREAS, the City of Fort Collins has reviewed the qualifications of Gary Young and David L. Young to perform the obligations of Mr. Giacopelli in regard to the Agreement and the Amendment and Addendum, NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1 . Consent is hereby given to Anthony Giacopelli to assign unto David L. Young and Gary D. Young the interest of Mr. Giacopelli in that Agreement between the City of Fort Collins and Mr. Anthony Giacopelli dated the 2nd day of September, 1980, and as modified by that Amendment and Addendum dated the 1st day of April , 1983. Section 2. The consent of the City to the assignment of Mr. Giaco- pelli ' s interest is conditioned upon the requirement that Gary D. Young and David L. Young shall be fully responsible to perform all the obliga- tions and duties of the Agreement and Amendment and Addendum. Section 3. Giaco Enterprizes, Inc. is authorized to take a security interest in the agreement allowing it to obtain the rights therein in the event of a default by Gary D. Young and David L. Young in the payment of any monies owing to Mr. Giacopelli for the rights obtained in the Agree- ment; upon the condition that the security interest taken by Giaco Enter- prizes, Inc. is assigned to Anthony Giacopelli , individually, within 90 days hereafter. Y Section 4. The City Manager is authorized to execute a written instrument giving evidence of the City' s permission to Mr. Giacopelli to assign the rights granted under the terms of the Agreement dated September 2, 1980. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held on the 3rd day of January, 1984. M r ATTEST: City C erc -2-