HomeMy WebLinkAboutTAPESTRY - FDP240016 - SUBMITTAL DOCUMENTS - ROUND 1 - Supporting Documentation (2) November 5th, 2024
Kristin Candella
Executive Director and CEO
Fort Collins Habitat for Humanity
4001 S. Taft Hill Road
Fort Collins, CO 80526
Re: Letter of Intent - Habitat for Humanity Acquisition of 30 Condo Units in the
Tapestry Project
Dear Ms. Candella,
The purpose of this Letter of Intent is to set forth the details under which Tapestry
Development, LLC and/or assigns (hereinafter, Seller) will consider selling 30
condominium units in the Tapestry development in Fort Collins, Colorado (hereinafter,
Property)to Fort Collins Habitat for Humanity(hereinafter, Purchaser).
Terms and Conditions: The final terms and conditions of an agreement remain to be
negotiated,but will include the following general terms and conditions:
1. The Property.
30 condominium units as further described in the future at the time of recordation
of the condominium plat, to be located in the Tapestry subdivision, City of Fort
Collins, County of Larimer, State of Colorado. The Property is generally depicted
on Exhibit A.
2. Closing Date and Takedown Schedule.
The Property will be purchased on the following takedown schedules:
- Five(5)Units in 2026
- Ten(10)Units in 2027
- Ten(10)Units in 2028
- Five(5)Units in 2029
3. Purchase Price.
The Purchase Price for the Units will be negotiated during the completion of the
Purchase and Sale Agreement for the Property.
4. Feasibility Period.
Not Applicable.
5. Purchase & Sale Agreement.
Tapestry Development,LLC 4801 Goodman St.Timnath,CO 80547 CONFIDENTIAL
Within a reasonable period of time after the mutual acceptance of this letter of
intent,Buyer will be responsible for producing and delivering a draft of the
Agreement of the Purchase and Sale to Seller, for Seller's review.
6. Title and Escrow Agent.
Kristy Mainwal
Harmony Title, LLC
kmainwaI60armonytitle.co
7. Broker(s).
Any Brokerage related fees or commissions related to closing will be the
responsibility of Seller.
This letter represents only a non-binding expression of Buyer's interest in the
Property. Neither parry intends to be bound in connection with this transaction
unless and until the Agreement is executed by both parties. The parties will only be
bound by an agreement when both parties have signed the Agreement, and neither
party may reasonably rely on verbal promises inconsistent with this paragraph.
If the foregoing is acceptable,please sign and email a copy of this letter to Patrick
McMeekin at Patrick@hartfordco.com.
Sincerely,
Tapestry Development, LLC.
By:
Patrick McMeekin, Oresident of Land
Signed and Approved: (� 0
By: N � ,, n V C "am CA Date ' 1 I lY I Z J Zy
Kristin Candella, ED and CEO
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Tapestry Development,LLC 4801 Goodman St.Timnath,CO 80547 CONFIDENTIAL
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EXHIBIT A
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Tapestry Development,LLC 4801 Goodman St.Timnath,CO 80547 CONFIDENTIAL