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RECOIWED IN
COUNTY OF ..IEFf'f.:f'<50N
STATE OF COLORADO
RECEPTION NO. 86055482
OS/27/86 12:55 12.00
For use in sale of . ,
VACANT LAND ONLY .1., ,.
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The printed purtiolls of this form approved by the
Colorado Heal Esta~e Commission (Sf' 26-12-771
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RECEIPT AND OPTION CONTRACT
(VACANT LAND)
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May7_
RECEIVED FROM _The City Qf WhEBt.Ridge..L a ColQJ:'ado muni<;iflal c2:rporation _ _
Purchaser (as joint tenants), the sum of$ 15.500.00 _. , in the form of check
- - - _ to be held bv _ Eugene_A~ Celano-" -part-Qwni"r _ _ _~,
in his escJrowfofr trustee account, as earnest money and part payment for the following described real estate situ'lte
" . th e erson , State of , . < . ,
I In e - -- - County of _ _ _ _ I Culorario, to wit.
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TIlE NORm 175 PEEr OF THE WEST 279.64 FEET OF THE EAST 306.64
FEET OF TRACT 15, BROOKSIDE EXCEPT THAT PORTION DESCRIBED IN
INSTRUMENT 'ID COUNTY OF JEFFERSON RECORDED IN BOOK 886 AT PAGE
ACCORDING 'ID 'I'HE RECORDED PLAT THEREOF, COUNTY OF JEFFERSON,
STATE OF COIDRAOO
340,
with all easements and. rig-hts of way appurtenant thereto, which propertv purchaser agrees to 1"1 \15m the Ii
followmg terms and eondltlOns for the pU!'chas~ price of $ ~~S, OO?.. 00 , payahle as follows: $ ,..'), ?O .00 ,
hereby receipted for, $,_ 1~200.00_ _, ln negotlable Clty funds on the date of closlng.
Price to include: vacant land, \.illdeveloped located generally at the southwest =rner
of Vlest 38th Avenue and <:Mens in the City of Imeat Ridge, CO\.illty of Jefferson,
state of Colorado.
1. An . a current commitment for title insurance policy in an
amount eQual to the purchm~e price, at seller's ~ expense, shall be furnished the purchaser on or before
[-lay l5~ _ _ _ ,19 86 ~'ellerwi1l
deliver the title insurance policy to purchaser after closing and pay the premium thereon.
2. Title shall be merchantable in the seller, except as stated in this paragraph and in paragraph R. Suhject to
:! payment or tender as ahove provided and compliance with the other terms and conditions hereunder by purchaser,
the seller shall execute and deliver a good and sufficient _ ~eral__ warranty deed to said purchaser
on _ !1av 2-3./__.._ , 19~Q., or, hy mutual agreement, at an earlier date, conveying said property free
and clear of all taxes, except the general taxes for 19.86 , payahle January 1,19 ~7 ,~t - -
free and clear of all liens for Rpecial improvements now installed, whether assessed or not, free and dear of all liens
and encumbrances except.
None
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and except easements fID[: which are shown on the Title Corrrnitment, which are suhject
to review and acceptance by Purchaser
and subject to building and zoning- regulations and the following- restrictive covenants.
None
:~, General taxes for the year of closing- shall be apportioned to date of delivery of deed ba~ed on the most recent
levy and the most reepnt assessment. Prepaid rents, water rents, sewer rents, and interest on encumbrances, if any,
and _,_
shall be apportioned to date of delivery of deed.
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No. SC 26.12'::77 Ht>l'eipt and Option Contrad(Vac>>nt Lttnd\-Hrarlfnrd l'uhlishinf! (" UHli I..;tuul ~in'''' P"!l\",.r ('"I" I,,;,;l-:')Olll- 1 j~j
:)
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Tilt, hllur and p!,WI' (i! (')()"-Illg ...;hall f'l' ;1:-; dt'~I1[natt'd 11\
;) PI):-;:-;t':-;", [()Il (If prt'rlll:":l'~ ..;11<1)1 lIP d"llYI'n.d tl! IJIIl'('I1(l:-'I'1' ull
mutual agreement
date of closinq
~uh.it'd tll tIlt' !ollo\\'lng lpa:-;{'." or tt'nanclt'."
None
f1. In tht' t-'\l:'nt the premi:-:t's are :-;llh:-:tantiallv dama~l'd by firt! flood ur tit tH' r ('a~llalt\ bet\\'(.'l'1I tIn.' daU-' Ilf thlS
agreement and the date of pussession or the datt' of del j..."t:.' r.v of dt'pd, whil'hevpl' shall tn' t'adler, this agn-'prnent may,
at tht:' o}JtioI1 of the purcha'-;t-'r twrt'in. hi' declared null and nlid and any deposit tH't'ein rnadf:' ""hall he imml,diatt:'h'
returrwd to {lllrchasf'r
7 Tirnt-' is of the l'Sst'llee twrpof. and if an\' payment or ally othpr condition hereuf is not madp, tendprpd or
pt:'rformed as herein providt>d, ttwre shall be the followinK renwdif>s. In the E'\'ent a payment or any other condition
hereof is nut made, tendf'red or performf'd hv the pUl'cha::,pr t hen thi~ contract shaU be Ilull and void antI of no f'fff'ct,
and both partips hereto releasl:'d from all ohligations hereunder, and all payments made hereon shall he retained on
behalf of the seller as liquidated damages. In the event that the sellf!r fails to perform any condition hereof as
provided herein, tht:'n Ow pun:haser may. at his etel'tlon. treat the contract as terminatt:'d, and all paYlllt:'nts mach-
hereundl?1' shall he returned to the purchaser provirlt:'d, however, that tht:' purchast:'r maY, at his elpction, treat this
contract as being in full force and effect with the right to an action for specific pprformance and damages.
R. Ex('ept as stated in yaragraph 2, if title is not merchantable and written notice of defect(sl is given hy the
purchaser or purchaser's agent to the seller or seller's agl?nt within the time herein provided for deli\'t~ry of deed and
shall not he rendered merchantahle within ::W days after such written notice, then this l'ontra{'t. at purchaser's option,
shall be void and of no effect and each party hereto shall he released from all obligations hereunder and the payrnents
made hereunder shall he rpturned forthwith to purchaser upon return of the abstra(.t, if any, to seller; providl:"d,
however, that in lieu of correcting such defect(s l, seller may, within said ;~() days. ohtain a commitment for owner's title
insurance policy in the amount of the purchase price reflecting title insurance protection in regard to such defect(sl,
and the purchaser shall have the option of acceptin~ the then existing insured. title in heLl of S,ll'h merl'hantahle titlE'
The seller shall pay the full premium for such owner's title insurance policy, and the ahstrad, if an\'. shall be returned.
by the purchaser
9 Additional pruvisiom See Addendum attached hereto and incorporated herewith.
10 If thi;-; proposal is accepted by the seller in writing on or hefore ' 19 , this
instrument shall hecome a contract between seller and purchaser and shall 1l1ure to the henefit of the heirs,
succes~,,-p..Jl..,and assi~n;,; uf <:.->>('....h"-rrrrrti..es:'
Pll:~:;;( ~"r
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Seller accept:: the above prQP()~al this
to pay a commission of 0/(' of the gross sales price for services in this transaction, and agrees that, in the event of
forfeiture of payments made by purchaser, such payments shall be divided between the seller's hroker and the seller,
one,half thereof to said hroker, but no~~tl1_~/q.,the/ommiSSiol.~ and the halance to the s~eller
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Purchaser's Address
Seller's Address
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RECEPTION NO. 86055482
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ADDENDUM
This Addendum to that Receipt and Option Contract (Vacant
Land) between the parties dated May 7, 1986:
1. The parties acknowledge that the Seller had previously
executed a contract to sell the within property to The David E.
Bailey Construction Company, a Colorado Corporation. Closing of
this contract is expressly contingent upon the covenant by Seller 3
that said contract with The David E. Bailey Construction Company
is terminated and of no force and effect, and the covenant and
warranty of Seller to indemnify and hold the City of Wheat Ridge
harmless for or on account of any claim of right or entitlement
to the property, or to damages, which may be asserted by The
David E. Bailey Construction Company, or any individual owner
thereof, and the execution by The David E. Bailey Construction
Company of a release of its interest, if any, in this property
and of the City of Wheat Ridge. Seller specifically acknowledges
that the City would not enter into this contract, and will not
purchase said property, without the within guaranty and warranty.
2. The parties specifically acknowledge that the City of
Wheat Ridge is purchasing this property for use as a park by and
within the City of Wheat Ridge. The City shall, with all
reasonable diligence, convey this property to the Board of County
Commissioners of the County of Jefferson, State of Colorado, for
inclusion in the County's Open Space program, for which the City
shall expect reimbursement from the County, and not from Sellers.
3. The Purchaser warrants to Seller that if this property
were not sold to Purchaser voluntarily, Purchaser would exercise
its rights of eminent domain granted to it by C.R.S. 1973,
38-1-101 et. ~. for purposes of acquiring said property.
4. In the event of any discrepancy between any provision in
this typewritten Addendum and any provision of the preprinted
Receipt and Option Contract (Vacant Land), the provisions of this
typewritten Addendum shall prevail.
5. The provisions of this Addendum shall survive the
closing of this transaction, and shall be continuing
representations, warranties and guaranties which shall not be
deemed to be merged into any deed conveyed hereunder.
SELLER.~_. . ,~/~~-: c~-
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PURCHASER
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~UMENT
NUMBER
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TYPE
CiTY OF WHEAT RIDGE
DOL,llMENT PURCHASE ORDeR
DATE NUMBER
BOX 638 _EAT ~DGE. o:x.ORAOO 80034
GROSS DISCOUNT
AMOUNT AMOUNT
5/21/86
REFUND FOR FILING FEE
No.
35038
RECEPTION NO.
OTHER
CHARGES
NET
AMOUNT
COMMENT
$250.00
8605548:2
1
PLEASE DETACH
BEFORE DEPOSITING
. TYPE (I) INVOICE (C) CREDIT MEMO (D) DEBIT MEMO (X) CONTRACT PAYABLE
CiTY OF WHEAT RIDGE
BOX 638
Vv'HEA T RIDGE. COLORADO 80034
lDENl'IRCATIOIII NUMBE" . " , .
I .. DATE.
t CHECNl NUMBE" " ,
tc"",, , NEll AMOUNll'
N/A
5/21/86
HW- 35038
No. 35038
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82,167 ,1
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1070
FIRST BANK OF WHEAT RIDGE
BOX 86. WHEATRtOGE, COLORADO
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**$250.00**
PAY I
TO THE
ORDER
OF
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DAVID E. BAILEY CONSTRUCTION COMPANY
1325 South Colorado Blvd.
11606
Denver CO 80222
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