HomeMy WebLinkAbout289379 STAN SALLY NIEMAN - CONTRACT - CONTRACT - 16181 3301612SALE AND PURCHASE AGREEMENT
FOR
RAW WATER
THIS AGREEMENT, is made and entered into this 3rd day of March, 2003, by and
between the CITY OF FORT COLLINS, COLORADO (City) and Stan W. and Sally K.
Niemann (Seller).
WHEREAS, the Seller is the owner of the following described raw water
rights/entitlements, to -wit:
Pleasant Valley and Lake Canal water — 1/4 (.25) share and all related water rights.
Hereafter referred to as "the Water"; and
WHEREAS, the Seller desires to convey and the City desires to purchase said Water.
NOW THEREFORE, in consideration of the mutual promises of the parties hereto, the
receipt and adequacy of which is hereby acknowledged, the parties agree as follows:
1. The Seller agrees to sell and the City agrees to purchase the Water at a purchase
price of $ 50,000, said price to be paid in cash or certified funds upon closing.
2. Closing shall occur at 215 North Mason, Fort Collins, Colorado, at such date and
time as may be mutually agreed upon by the parties, but in any event no later than
March 20, 2003.
3. It is understood and agreed that the City shall have the right to investigate,
research, and conduct such other due diligence as the City deems appropriate in
evaluating the quality, quantity, seniority, reliability, or other status or condition
of the Water, and may provide written notice of a material defect in the same to
Seller at any time prior to twenty (20) days prior to the closing date set forth in
paragraph 2, above. In such event, the City shall be entitled to terminate this
Agreement of Sale and Purchase, or to proceed notwithstanding the noted defect,
at the City's option.
4. It is understood that the transfer of the water may not be accomplished without the
approval of the affiliated Irrigation/ditch Company. Accordingly, in such event,
the closing shall not be held until said company has approved the transfer, and if
the transfer should not be approved by the company, then this Agreement shall
become null and void and of no further force and effect.
5. This Agreement shall inure to the benefit of the parties hereto, their heirs,
successors, representatives and assigns. This Agreement may be modified only
by writing of the parties.
6. The Seller represents and warrants that all assessments due and associated with
the Water are paid to the current date. If dues and assessments are in arrears at
the date of closing, the city has the right to off set any amounts due against the
purchase price set forth in paragraph 1.
Additional provisions: The Seller will be responsible for:
• Delivering the original water certificate to the Irrigation/ditch Company
office.
• Providing and setting up the paperwork to get the new water certificate
transferred to the name - "City of Fort Collins".
• Paying the transfer fee to the Irrigation/ditch Company for the new water
certificate.
• Delivering the new water certificate to the "City of Fort Collins" at the time
of the closing.
• If Seller constitutes more than one person or entity, then each of the same
shall be jointly and severally liable for the obligations of Seller hereunder.
IN WITNESS WHEREOF, the parties have caused these presents to be executed the day
and year first above written.
ATTEST:
U LI) - ��) �-,
City Clerk
APPROVED TO AS TO FORM
Assistant City Atte}
CITY OF FORT COLLINS, COLORADO
A municipal corporation
By
John F. Fischbach, City Manager
SELLER
By
By