HomeMy WebLinkAbout1978-25 Approving the Agreement for Purchase of Gondola I SiteRESOLUTION NO. ~_`~
Series of 1978
A RESOLUTION OF THE TOWN COUNCIL
APPROVING THE AGREEMENT FOR PURCHASE
OF THAT SITE KNOWN AS THE GONDOLA I
SITE LOCATED TN VAIL VILLAGE FIRST
FILING, TOWN OF VAIL; AUTHORIZING
THE TOWN MANAGER TO EXECUTE FOR AND
ON BEHALF OF THE TOWN COUNCIL THE
PURCHASE AGREEMENT, CLOSING DOCUMENTS,
NOTE AND DEED OF TRU5T TO VAIL
ASSOCIATES, AND ANY OTHER DOCUMENTS
OR AGREEMENTS NECESSARY FOR THE
COMPLETION OF THIS TRANSACTION;
DIRECTING THE THE TOWN CLERK TO
ATTEST TO THE SIGNATURE OF THE TOWN
MANAGER AND TO AFFIX THE SEAL OF THE
TOWN OF VAIL TO ANY INSTRUMENTS OR
DOCUMENTS NECESSARY FOR THE COMPLETION
OF THIS TRANSACTION
WHEREAS, Vail Associates has agreed to sell, and the
Town of Vail has agreed to purchase that parcel of property
known as the Gondola I site located within Vail Village First
Filing, Town of Vail, Colorado;
WHEREAS, Plaza Lodge, Inc., a Texas corporation, and
adjacent property owner to the Gondola I site, has agreed to
pay to the Town of Vail $100,000 in five yearly installments
of $20,000 each; and
WHEREAS, the Town Council is of the opinion that the
agreements between all three parties should be approved;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL
OF THE TOWN OF VAIL, COLORADO, THAT:
1) The Town Council hereby approves the proposed
agreement between the Town of Vail and Vail Associates attached
hereto as Exhibit "A" for the sale and purchase of the Gondola
I site identified therein. Further, the Town of Vail hereby
approves the contract between the Town of Vail and Plaza Lodge,
Inc., a Texas corporation, for the payment to the Town of Vail
of $100,000 to be used for the purchase of the Gondola I site.
2) The Town Manager is hereby authorized and directed
to execute both contracts for and on behalf of the Town Council,
Town of Vail. Further, the Town Manager is authorized to execute
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for and on behalf of the Town any documents necessary for the
closing of this transaction, including the note and deed of
trust referred to in the agreement with Vail Associates.
3) The Town Clerk is authorized and directed to
Mayor (~
attest to the signature of the Town Manager and to affix the
seal of the Town to any documents requiring the same.
INTRODUCED, READ, APPROVED, AND ADOPTED, th15 17th
day of October, 197$.
ATTEST:
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