Laserfiche WebLink
<br />keep confidential all such information that is required to be kept confidential by the <br />provisions of Section 24-72-204, C.R.S. <br /> <br />2.2.10 Timin!!. Unless otherwise provided herein, all documents and <br />information to be provided by Tri-Area pursuant to this Section 2.2 shall be provided to <br />81. Vrain as soon as is reasonably practical, but in no event later than thirty (30) days <br />prior to the District Court hearing on the Dissolution. <br /> <br />3. Disposition of Assets <br /> <br />3.1 General. As soon as is reasonably practical following entry of an Order of <br />Dissolution, but in no event later than the effective dare ofTri-Area's Dissolution, which <br />the Patties contemplate will be January 1, 2008, Tri-Area will transfer and convey all <br />Tri-Area assets and property ("Tri-Area Property") to St. Vrain. Except as otherwise <br />provided herein, all Tn-Area property shall be transferred to S1. Vrain "AS 1St> without <br />any warranties whatsoever, express or implied, including but not limited to any warranty <br />as to title, condition, or suitability or fitness for any particular purpose. <br /> <br />3.2 Real Propertv. Tri-Area will execute and deliver to St. Vrain a bargain and <br />sale deed conveying all ofTri-Area's right, title and interest in and to any real property <br />owned by Tri-Area, including hut not limited to all real property ovmed in fee and all <br />easements. All such real property shall be conveyed free and clear of liens, but without <br />any warranty whatsoever as to title. With regard to Tri-Area's sewer treatment plant site~ <br />St. Vrain agrees to assume and be responsible for closing the treatment plant site and for <br />clean up and remediation of the treatment plant site, at least to the extent required by law, <br />or as 81. Vrain may otherwise determine appropriate. <br /> <br />3.3 l\1otor Vebieles. EQuipment. Furnishines and Tools. Trl-Area agrees to <br />execute documents oftitle and bills of sale to 81. Vrain for all tangible personal property <br />owned by Trl-Area, including but not limited to all motor vehicles, equipment, <br />furoishings and tools. <br /> <br />. 3.4 Funds. A portion ofthe cash which Tri-Area anticipates will be on hand ~ of <br />the date of the entry of an Order of Dissolution will be necessary to pay Tri-Area's then <br />current liabilities. Upon entry of an Order of Dissolution, Tri-Area shall set aside and <br />pay all of its then current liabilities, including but not limited to all costs incurred in <br />connection with the District's dissolution, such as but not limited to the funds for a final <br />audit, the purchase of tail insurance coverage, and a complete and comprehensive <br />severance package for Tri-Area employees. All remaining funds, if any, ofTri-Area on <br />the effective date of Dissolution not otherwise set aside and expended for payment of <br />CUlTent liabilities, will be delivered to St. Vrain to be used as hereinafter provided. <br /> <br />5 <br />