HomeMy WebLinkAbout1982-030-02/16/1982-AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH STANLEY KLEMETSTONE SPECIFYING CERTAIN RESOLUTION 82-30
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY MANAGER TO ENTER INTO AN
AGREEMENT WITH STANLEY KLEMETSON SPECIFYING
CERTAIN TERMS CONCERNING THE SALE OF THREE
CONDOMINIUM UNITS LOCATED AT 234 NORTH GRANT
STREET IN THE CITY
WHEREAS, on January 19, 1982, by Resolution 82-2 of the Council of the
City of Fort Collins, the City Manager was authorized to enter into an
agreement with Home Federal Savings and Loan Association of the Rockies and
Stanley L Klemetson for the purpose of purchasing three condominium units
located at 234 North Grant Street in the City of Fort Collins, and
WHEREAS, the aforesaid agreement was conditioned upon receipt by the
City of the promise of Klemetson that, upon sale by the City of the afore-
mentioned condominium units, Klemetson shall promise to pay to the City the
difference between the City' s total dollar outlay in acquiring said con-
dominium units less the City' s total net proceeds upon sale of said units,
and
WHEREAS, Klemetson has agreed to enter into such a contract, upon
condition that the City promise that said condominium units remain un-
occupied until such time that they are sold, and
WHEREAS, the Council of the City of Fort Collins has determined that
the aforesaid additional condition as imposed by Klemetson is reasonable
under the circumstances
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized to enter
into an agreement with Stanley L Klemetson, to be executed upon closing
of the three remaining unsold condominium units located at 234 North
Grant Street in the City of Fort Collins, whereby Klemetson shall promise
that, upon sale by the City of the aforementioned condominium units ,
Klemetson shall reimburse the City for the difference between the City' s
total dollar outlay in acquiring said condominium units less the City' s
total net proceeds upon sale of said units, and upon such other terms and
conditions as the City may deem appropriate to accomplish said reimburse-
ment, and provided further that said condominium units shall be left
unoccupied until such time that they are sold
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this day of 1982
Mayor t
ATTEST
City Clerk