HomeMy WebLinkAboutMICHAEL J DONALDSON - CONTRACT - CONTRACT - SALE AND PURCHASE OF WATERAGREEMENT FOR SALE AND PURCHASE OF WATER
THIS AGREEMENT, made and entered into this I bTA day of YI 2004,
by and between Seller and Purchaser and or their assigns:
SELLER:
Michael J. Donaldson
3384 E. Mulberry
Fort Collins, CO 80524
Phone: (970)493-6698
Fax: (970)493-0216
PURCHASER: City of Fort Collins (Parks Division)
P.O. Box 580
Fort Collins, CO 80522-0580
Attention: Virgil Taylor
Phone: (970)221-6365
Fax: (907)221-6586
WITNESSETH:
For valuable consideration, receipt of which is hereby acknowledged, the Purchaser promises to
purchase, and the Seller promises to sell, the water as more full described on the attached Exhibit
A.
1. Purchase Price: The purchase price shall be $10,200/share for
a total price of $10,200.
2. Dates and Deadlines:
Acceptance Date: April 27, 2004
Closing Date: April 30, 2004
3. Disclosures: Seller shall voluntarily disclose in writing any and all
known facts relating to ownership, restrictions or use of the water prior to the
Acceptance date as shown above.
4. Ownership: Seller shall deliver this water free and clear of any
assessments, liens and encumbrances. It is understood that this water may be used for
agricultural or other purposes as shown by its Water Court decree.
Seller 1 Purchaser
5. Closing: Closing of this transaction shall be at the office of Donaldson & Company
at 10:30 am or a such other reasonable time, place and location as the parties may
agree.
6. Possession: Deeds, certificates or other evidence(s) of title shall be delivered to
Purchaser at closing.
Transfer Fee(s): Purchaser shall pay any transfer fee(s) and charges for transferring
the title of the water.
8. 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 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.
9. 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.
10. 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.
11. Default:
If Purchaser is in default, Seller may:
a. Elect to treat this contract as cancelled, in which case all payments and things
of value received hereunder shall be forfeited and retained on behalf of the
Seller.
b. Elect to treat this contract as being in full force and effect and Seller shall
have the right for specific performance, damages or both.
If Seller is in default, Purchaser may:
a. Elect to treat this contract as cancelled, in which case all payments and things
of value provided hereunder shall be immediately returned to Purchaser.
Seller 2 Purchaser
b. Elect to treat this contract as being in full force and effect and Purchaser shall
have the right for specific performance, damages or both.
12. Changes in Writing:
All changes to this Agreement must be in writing and signed by the Parties.
13. Faxed Signatures:
Faxed signatures shall be acceptable. Original documents must be signed and
returned within five (5) business days.
14. Binding Effect: The Agreement shall be binding upon and inure to the benefits of the
parties hereto and their respective heirs, administrators, successors and assigns.
15. Acceptance Deadline: This contract shall expire unless accepted by the Sellers on or
before the Acceptance Date. Once signed by both parties, this document shall
become a contract between Seller(s) and Purchaser(s).
SIGNED:
Seller:; rti
Date:
Seller's Agent:
Phone:
Purchaser: ��' r` 1 CIF
Date: �/i �/v� �/� � � Q
Purchaser's ent: ' �J � `-'-1
p G ZYL. OF
Seller 3 Purchaser.
EXHIBIT A
Description of Water
Description: Larimer and Weld Irrigation Company
106 Ehn Street
Eaton, Colorado 80615
Quantity: One (1)
Units: Shares (e.g., shares, acre-feet)
Seller 4 Purchaser