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• <br />OPTION AND PURCHASE AGREEMENT <br />HAMMER PIT PROPERTY <br />THIS PURCHASE AGREEMENT ("Agreement") is made this 14'" day of December, 2000 <br />between the CITY OF THORNTON, a Colorado municipal corporation whose address is 9500 Civic <br />Center Drive, Thornton, Colorado 80229 ('Thornton"), and AGGREGATE INDUSTRIES -WEST <br />CENTRAL REGION, INC., an Indiana corporation, whose address is 3605 South Teller Street, <br />Lakewood, Colorado 80235 ("Aggregate'. Aggregate was formerly known as CAMAS Colorado, <br />Inc., an Indiana corporation, and Cooley Gravel Company, an Indiana corporation. <br />RECITALS <br />WHEREAS, Thornton has commenced an eminent domain action to acquire property in the <br />following action, Citv of Thornton v. CAMAS Colorado. Inc., et al., Case No. 98 CV 2259, District <br />Court, Adams County, State of Colorado; <br />WHEREAS, Aggregate is currently the owner of the Property identified on Exhibit A to this <br />Agreement, and is negotiating to acquire control of adjacent property identified on Exhibit B to this <br />Agreement; <br />WHEREAS, mining of sand and gravel has begun on the Property and the Property in its <br />current condition has the potential for future use as a reservoir; <br />WHEREAS, Aggregate expects, under the current Mining Plan, economic and market <br />conditions, that the mining will be complete and the reservoir will contain approximately Three <br />Thousand (3,000) acre feet of water storage capacity and will be ready for delivery to Thomton <br />by December 31, 2006; and <br />WHEREAS, Thornton, and Aggregate have reached an agreement regarding the option and <br />purchase of the Property as a finished and approved reservoir from Aggregate by Thornton. <br />AGREEMENT <br />NOW, THEREFORE, and in consideration of the mutual covenants herein contained and <br />other good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, Thomton, and Aggregate agree as follows: <br />Definitions <br />As used in this Agreement the following terms are defined as set forth below: <br />Hammer <br />Option & Purchase Agreement <br />December 11, 2000 <br />Page 1 of 29 <br />