HomeMy WebLinkAbout2020-26 Executive Bill of Sale Accepting Certain Improvements Exisisting on Lot 3 Middle Creek Village6/12/2020
C:\USERS\TNAGEL\APPDATA\LOCAL\MICROSOFT\WINDOWS\INETCACHE\CONTENT.OUTLOOK\SSUMUZ2A\RESOLUTION NO. 26
SERIES OF 2020.DOCX
RESOLUTION NO. 26
SERIES OF 2020
A RESOLUTION AUTHORIZING THE TOWN MANAGER TO EXECUTE A BILL OF SALE
ACCEPTING CERTAIN IMPROVEMENTS EXISITING ON LOT 3 MIDDLE CREEK VILLAGE
ON BEHALF OF THE TOWN OF VAIL
WHEREAS, on January 15, 2002, the Vail Local Housing Authority (the "VLHA"), as
special agent for the Town, and Coughlin & Company, Inc., a Colorado corporation, as initial
lessee, entered into a Land Lease Agreement for the purpose of granting Developer a leasehold
estate in the Property upon which to design, develop, build, own and operate a multi-family rental
housing development (the "Development");
WHEREAS, construction of the Development was completed on or about January 31,
2005;
WHEREAS, Developer, the VLHA and the Town are entering into a new Ground Lease
for the Development, which will exclude certain property and improvements, with the intent that
the Town resume control of such property and improvements; and
WHEREAS, Developer now wishes to convey to the Town and the Town wishes to accept
those certain improvements existing on Lot 3, Middle Creek Village, as more particularly
described in Exhibit A, attached hereto and incorporated herein by this reference (the
"Improvements").
NOW, THEREFORE, BE IT RESOLVED BY TOWN COUNCIL FOR THE TOWN OF
VAIL, STATE OF COLORADO:
Section 1. The Council hereby authorizes the Town Manager to enter into a Bill of
Sale in substantially the same form as attached hereto as Exhibit A and in a form approved by
the Town Attorney.
Section 2. This Resolution shall take effect immediately upon its passage.
ATTEST TOWN OF VAIL
_________________________ _____________________________
Tammy Nagel, Town Clerk Dave Chapin, Mayor
6/12/2020
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SERIES OF 2020.DOCX
EXHIBIT A
BILL OF SALE
THIS BILL OF SALE ("Bill of Sale") is made this ___day of __________, 2020 by Middle
Creek Village, LLC, a Colorado limited liability company with an address of 140 East 19th Avenue,
Suite 700, Denver, CO 80203-1035 ("Developer"), in favor of the Town of Vail, a Colorado home
rule municipality with an address of 75 South Frontage Road, Vail, CO 81657 (the "Town").
WHEREAS, on January 15, 2002, the Vail Local Housing Authority (the "VLHA"), as
special agent for the Town, and Coughlin & Company, Inc., a Colorado corporation, as initial
lessee, entered into a Land Lease Agreement for the purpose of granting Developer a leasehold
estate in the Property upon which to design, develop, build, own and operate a multi-family rental
housing development (the "Development");
WHEREAS, construction of the Development was completed on or about January 31,
2005;
WHEREAS, Developer, the VLHA and the Town are entering into a new Ground Lease
for the Development, which will exclude certain property and improvements, with the intent that
the Town resume control of such property and improvements; and
WHEREAS, Developer now wishes to convey to the Town and the Town wishes to accept
those certain improvements existing on Lot 3, Middle Creek Village, as more particularly
described in Exhibit A, attached hereto and incorporated herein by this reference (the
"Improvements").
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Developer does hereby absolutely and unconditionally give, grant,
bargain, sell, transfer, set over, assign, convey, release, confirm and deliver to the Town the
Improvements. Developer warrants the Improvements are free and clear of any and all liens and
encumbrances.
Nothing in this Bill of Sale shall be construed to relieve Developer of any obligations set
forth in any other agreement with the Town or the VLHA.
This Bill of Sale shall be governed by, interpreted under, and construed and enforceable
in accordance with, the laws of the State of Colorado.
IN WITNESS WHEREOF, the undersigned has executed this Bill of Sale as of the day
and year first written above.
6/12/2020
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SERIES OF 2020.DOCX
MIDDLE CREEK VILLAGE, LLC, a
Colorado limited liability company
By: _________________________, its manager
STATE OF COLORADO )
) ss.
COUNTY OF _________ )
The foregoing instrument was acknowledged before me this ____ day of __________.
2020, by _________________ as Manager of Middle Creek Village, LLC.
My commission expires:
WITNESS my hand and official seal. _________________________________
Notary Public
6/12/2020
C:\USERS\TNAGEL\APPDATA\LOCAL\MICROSOFT\WINDOWS\INETCACHE\CONTENT.OUTLOOK\SSUMUZ2A\RESOLUTION NO. 26
SERIES OF 2020.DOCX