Laserfiche WebLink
• ~ <br />4. In May of 2000, Halsnes approached More for the purpose of researching the feasibility <br />of and securing the necessary approvals for a gravel pit operation on More's real property <br />located in Routt County, Colorado, commonly (mown as the More Family Ranch ("More <br />Rauch"). <br />5. On June 1, 2000, More executed a letter authorizing Halsnes to apply to Routt County for <br />a special use permit. <br />6. On or about June 2, 2000 More and Halsnes executed a letter agreement that spells out <br />the precise terms of a lease of a portion of the More Rahch from More to Halsnes for the <br />operation of a sand and gravel pit and included an option to purchase, containing the purchase <br />price and other essential terms. <br />7. Subsequently, the parties agreed in a series of writings, oral statements and assurances, to <br />all of the essential terms of the lease and option agreement. A description of that portion of the <br />More Ranch that the parties agreed would be subject to the lease and purchase option is <br />described in Exhibit A attached hereto ("Real Property"). <br />8. Halsnes proceeded under the agreement and applied for apre-application with the Routt <br />County Regional Planning Aepartment. <br />9. On or about August 3, 2000, Halsnes had a hearing with the Routt County Regional <br />Planning Department that had a favorable outcome. <br />10. Immediately following the pre-application hearing, Halsnes prepared documents to <br />evidence the additional terms verbally agreed to by the parties and requested that More execute <br />them. A (ease and purchase contract was submitted to More. More made repeated assurances that <br />it would execute documents evidencing the parties' agreement. More stated that the reason that it <br />would not execute additional documents at that time was because More was concerned that it <br />would impact the settlement of certain estate tax liabilities in a More family estate proceeding. <br />Halsnes reasonably reposed confidence and trust in More and, but for such confidential <br />relationship, a formal written lease would have been executed. The original agreement, the <br />subsequent writings, and the subsequent oral statements and agreements are hereafter referred to <br />as the "Lease/Purchase Option." <br />11. In reliance upon the verbal assurances, Halsnes continued to perform his obligations <br />under the Lease/Purchase Option. Halsnes prepared and filed an application for a special use <br />permit for a gravel pit, asphalt and concrete plant on the Real Property. That application is still <br />pending before the Routt County Regional Planning Department. <br />12. In reliance upon the Lease/Purchase Option, Halsnes expended approximately $70,000.00 <br />in gravel exploration, engineering, survey costs, and other costs and expenses incurred in <br />connection with prosecuting the special use permit application and fulfilling his obligations in <br />the Lease/Purchase Option. <br />2 <br />