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Home My WebLink Aboutpitkin.planning.273501403016 (2008)DOCUMENT LAYOUT THIS FILE MAY OR MAY NOT CONTAIN ALL OF THE INFORMATION LISTED BELOW IN THE FOLLOWING ORDER Summary Sheet Resolution for the BOCC and/or P&Z Ordinance for the BOCC and/or P&Z Determination for the Hearing Officer Administrative Determination Staff Memo Application Public Notice, Acceptance Letter, Referral(s) Letter Site Plan Miscellaneous Plat(s) Parcel ID: 2735-01-4-03-016 Application Date: 11/18/08 Case No: P137-08 Description: Address: 74 PFISTER DR, 102 ASPEN. CO 81611 Project Address: 204 MAGNIFICO RD, ASPEN, CO 81611 % Over Hours: 3.6 Property Owner: LIPMAN Owner's REP: VALERIE ALEXANDER REP's Email: valerie@bluegreenaspen.com >bolson@hansenconst.com Referrals: ALL OTHER REFERRALS Comments Due Date: 01/16/2009 Address: 300 S SPRING ST, 202 ASPEN, CO 81611 Planner: Cari Anne Holcomb # Copies: 2 Allocated Hours 3 Owner Phone: (305) 662-2600 REP's Phone: (970) 429-7499 Other Referrals: Pitkin Green HOA No comment Meetings: 1st Meeting: 2nd Meeting: 3rd Meeting: Meeting Date: Review Body: admin Public Hearing? no Notice Date: Meeting Notes: Approvals: BOCC Resolution #: P8Z Determination #: BOCC Ordinance #: HO Determination #: Admin Determination #: 117-2008 #555065 Other Information: VR Approval Date: Plat Recorded Date: 01/12/2009 VR Expires Date: Plat (Bk, PG): 690 P17 #555811 Remarks: no vested Application Type: Minor Amendment to a Development Permit ADMINISTRATIVE DETERMINATION OF TIIE COMMUNITY DEVELOPMENT DIItECTOR OF PTTKIN COUNTY, COLORADO, APPROVING THE LIPMAN- MAGNIFICO HOLDINGS LLC MINOR AMENDMENT TO A DEVELOPMENT PERMIT Administrative Determination No,~~-2008 RECITALS 1. Lipman-Magnifico Holdings LLC ("Applicant"), has applied to the Community Development Drector of Pitkin County, ("Director"), pursuant to Section 2-20-150(b) of the 2006 Pitkin County Land Use Code ("Code") to amend the 1041 Hazazd Review approved development envelope for the purposes of establishing a larger development envelope for grading and revegetation purposes only to return a previously disturbed azea to its natural state. 2. The pazcel is zoned R-30, contains approximately .73 acres, and is conforming in size. 3. The Lot is located at 204 Magnifico Road and is described as Lot 19, Block 2, Pitkin Green subdivision. PID#:2735-014-03-016. 4. The pazcel received 1041 Hazazd Review and GMQS approval pursuant to Administrative Decision No. 55-2005, recorded at Reception No. 511091. The 1041 Hazard Review Site Plan is recorded in Plat Book 74 at Page 37. 5. This amendment is to rectify disturbance outside approved building/development envelopes onto slopes >45%, which is prohibited by the Code. 6. The Community Development Director finds that the request is reasonably consistent with the requirements of Section 2-20-150 of the 2006 Land Use Code. APPROVED by the Director, subject to the following conditions: 1. The Applicant shall adhere to all material representations made during the application process. 2. The Applicant shall comply with the provisions of Administrative Decision No. 55-2005, unless otherwise replaced or amended by this Decision. 3. Approval of a development envelope within such setbacks or easements does not assure approval of a variance. 4. No dirt or fill shall be brought onto the property from off-site. 5. Prior to the issuance of the Certificate of Occupancy, the Applicant shall submit to the Community Development Department, a detailed revegetation plan using native shrubs and grasses as approved in the Pitkin County Revegetation Guideline and meeting severe wildfire mitigation conditions of the 1041 Hazard Approval referenced above. RECEPTION#: 555065, 12/16/2008 at 09:34:14 AM, 1 of 3, R $0.00 Doc Code ADMIN DECISION Janice K. Vos Caudill, Pitkin County, CO IZ Jla ~US Administrative Decision No. ~-2008 Page 2 6. The Applicant shall provide the County with financial security, in the amount of $7,500 to ensure the revegetation on steep slopes is successful. The revegetation shall be inspected by the Community Development Department after two years to determine if a healthy sustained re- growth of vegetation exists in the development envelope behind the house. Prior to issuance of the Certificate of Occupancy, the Applicant shall be required to submit for approval by the County Attorney and Community Development an Amended Site Plan with an Activity Envelope in accordance with Land Use Code Section 2.30.20(g) and Application Manual Sections 2.1.1 and 2.1.12. The Mylaz copy of the plat shall be signed by the owner prior to submittal for recording. The above referenced approvals shall be a condition precedent to finalization and recordation. The plan shall also incorporate the following changes: a. Re-title the Site Plan, "First Amended Lipman-MagniSco Holdings LLC 1041 Hazard Review Site Plan"; b. Include a disclaimer that states the development envelope is for grading and revegetation only; c. Include a note that this site plan replaced the 1041 site plan recorded in Plat Book 74 at Page 37; d. Include a note that states the parcel is mapped in a severe wildfire hazard area. e. Eliminate the slope analysis (color/shading); £ Remove the "bubble" features located along the west property line and the southeast corner of the building envelope; g. Remove the "old" building footprint and include only the new residence's footprint within the building envelope; h. Change to Owner's name to Lipman-Magnifico Holdings LLC and obtain signature from authorized officer or authorized holder of power of attorney. i. Change Community Development Director signage block to read: AMENDED 1041 HAZARD REVIEW APPROVAL AND DEDICATION This amended Plat of the Lipman-Magnifico Holdings LLC 1041 Hazazd Review Site Plan is hereby approved this day of , 200 subject to the terms and conditions of Administrative Determination No. -200_. Except as modified by such Administrative Decision, the original 1041 Hazard Review Site Plan recorded at Book 74 and Page 27 and the conditions of Administrative Decision No. 55-2005 remain in full force and effect. Pitkin County Community Development Department 8. No development, including grading, excavation, fill placement, terming, landscaping, vegetation removal or disturbance, utility or driveway extension, or septic system shall occur outside of the approved building or development envelopes. 9. All areas disturbed by earthmoving shall be re-vegetated with native shrubs and grasses to limit water consumption and additional runoff within one growing season of the project's completion. Administrative Decision No. I ` ~ -2008 Page 3 10. Any grading improvements shall be limited to a slope of 2:1, no steeper. 11. Failure to comply with the conditions of this approval may result in revocation of this approval, or any subsequent permit(s) or approval(s) related to this property, or vested rights associated with this property. APPROVED by the Director, this 1~ day of ~t . , 2008. ~~~,~, c Qx. ~ ~, Civ~d~j Houben Community Development Duector Case #P137-08 PID# 2735-014-03-016 ECTRA~p NK ill`~`t,R;n, IRRE~'OC~BLE ST.a\DBti' LETTER OF CREDIT \0.7106483-600? BEV'EFICIARI'. Pitkm County, Colorado ISSL~E DOTE. December 13.2005 Community Development Cathenne Berg ~ Plannin, Enamecr EXPIRATION December 23, 2010 130 South Galena Street Aspen, C0 31611 .~1VIOLNT' USS',d00,00 Dcur A~admn: At the Request of Plaza I 1 7, LLC' on behalf of Hansen Consn'uction, Inc., a[ 310 Aspen Airport Business Center, Aspen.C0 3161 I, the hereby establish our In~evocable Standby Letter of Credit in your favor up to mt aegrceatc amoun~ of Seventy Fit e Hundred and \o. 100 L'S Dollars (57,300.00 LSD). This credit is as ailable for payment a,ainstl presentation of your drtftl s) at Sight drawn on VECTRA BA\K COLORADO, NATIO\AL 4SS0 1.4TI0\, bearing the clause: "Drawn under Credit No. 7 1 06133-6002 of VECTRA BANK COLORADO, \ATI \';\L ASSOCIATION, Denver, Colorado", accompanied by'the following documents. This origmai Standby Letter of G~edi[ and Amcndmcntls~ ti~ercto, if any, tchich kill be rcnuncd to you follotcing our notation thereon of [he amount of such draft drawn hereunder If the amount of the draft is for the tidl amount oY this Standby Letter of Q~cdit, the original Standby Letter of G'edit twill be remincd by us. In the qt ent of dratcinc all documents must be dispatched in one lo[ by re_istercd mail or councr scrctces directly to Vecgl~a Bank Colorado, Nanonal Association; 160 South Colorado Boulevard, Basement; Denser, Colorado SO'_'2.' This Standby Letter of Credit expires ut the counters of Vectra Bank Colorado. \anonal Association, at the close of businc~s on the expiration date. Pm'tial drawings are allowed under this Letter of Credit. If you Dace any questions concern mg thi; transaction, please call us ut (', "'CI 9-17-"947, ('10) 94',-7910. VA'e heijcby acres tsuh you that draftlsl drawn under and m compliance with tho terms of dus Snutdb} Lcncr of Credit kill be honored upon presentation to us as specified herein, THIS 1 REl'OC.-\BLE LETTER OF CREDIT IS SL~BJECT TO TFIE L!XIFOR~I CL'STO\IS :\XD PRACTICE FOR ~CL'~\IENTARl' LETTERS OF CREDIT 1'_00' REIISIOV), I\TER\ATIO\AL CHASIBER OF CO\IIIERCE PL~BLICATIOV \0 600, A\D AS TO \L4T'iERS \OT GO\'ER\ED Bl' THE LCP, SHALL BE GOVE~2XED Bl' A\'D CO\STRLED IV ACCORDA\'CE \VITH THE LA\\S OF THE ST-\TF OF COLOR:\DO Sinccrcl~. \"cctra Bunk Colorado.\anonal -\ssociation Aiuhonzcd Sienanire Tide. i.' 1!. ~. /'~.:.z 1 (i ',~ - , ,,,o,a ~00~'Ol c~-i ~~ Si-[~ 111 ~,I~? V`'[ 4>Ff_~ t~~I tiR~D~~'il~~li PHt!AC ~:-i! ~ll3 n`On Pq.r ,rat a'_u ;r" o~uzc re,ii.ihan k.~am ""~~ aPPLIC'.aT1O\ FOR LETTER OF CREUIT \ \'IlO\ \1. \SSO('I \llU\ \spen Branch, il-1 East fiyman. \spen, Gtlurndu R16R Ucccmbcr?3, ?OU5 ii'LS IT Dear iu ur \IaJein. Itsll_ ^ Qistontcr Pick up ' _Iresl ~.~ei aldhli3h h:. ^ Cuhle 13 ri~ I dd•. ice un Ir: ar~aJ.lc Lefler of Credit m d:e lollot~irv~ zun~hi:ons ^ Cahlc Full Test ^ 4nm:ui I,i f.r nr u! I I, i - ,. { Co~.u~r Gtlo rndo Attn. Conmwni D~ duin':en, C.uh~ :: Q o. I lai:nnt_ b r ra. I?n ~a. (`,u: c.~ Si t. A~pe•~r. ~'U ~ 101 I 1 \an'~c '.unl -\~.IJnasi for Attoum of ~uia I I' LU~on behalf of Il:mscn C oroituction_ Inc._ 31 U A;pm Airport Dtunte~s lentei. Aspen. CO o I oI 1 1\'amc unJ AJJiassl Amount sn0 U Asw ant w ~ ra us on A earn bank C'nlnradn. Aunonal Assnem mm at'plece r. icrnceJ ahme Reluu re to perf~rm:mce oP:md [he eomphance kith the \a ecnwnt. by unJ het~~ecn. -Applieunt anJ C3eueliciar. I Biicl Dc~cnplion al Proj ecu Ducuntenu Reywr~hJ. Letter of Credit - Sec f shibit ".-A" attache) trt and mode a hart of'this dnplirttion tlr I ette ~ t (C ~ed~t S tutCntcnl LntCS t. '.\ PermitlcJ Pani:d Dra~~ in•~~. p \ot PcnnittaJ Dra li; ~.n he Jrass eland nemnmteJ nn nr before Uecemher 3 ~ ?uI u Il! dorurn~•n r, to ~~= hu'irar.(cr(m ouc mtc'r, r+u rtuvmul mdes,v ot6r~-vt.ce ~ror<d wader .SPCrm/ 6i~p'ur u~~m ipccml htio'ucuonG. THE OPE\I\G~OF TI-11S LEl"l ER OF CREDIT IS SLE3.IECF TO THE TER\IS ~\\D R7\DI~II(t\S \S SGT PORTH I\ TI IP. LETTER OF CRiFDIT \\D RPI\I[3l RSEVE\T 4GREE\IG\T ~' -lUG-4S3-6U0'_ -Aeeount Humber Plnzu 11~. LLC ,; `~~/ ~ „' ~~tern Hansen. Alwiueen.f=1'la,:a I I-. LLC It e.~s~.l ~-a •n JUi~V Urr r x rl I Isrr .. _~.. nuie~~oca~3~.F sT,~~~i~i3ti~ i.FTTe~z of cizri~iT ~~o. ~ro~,~ts3-~,uo~ CiE\EEIUARI Pithm Cnunt~, Colrn~idu Conununit~ Dc~ciupmcnl Catherine 6cr~~ Plannine En~~inccr 1.r South Galena Street Aspcn,Ct-)SI611 ISSIr~~\rF ne~e~:,h~r,~.,~~~~~~ PSPIR:\TIO\~ Dtecnilxr_~, _fil~i VAInLAT l SJ'.~~ittuV Dear AIGd:uar. 4i the rpyucst of Plata 1-, LLC on bcha!I of Hansat Cons[ruciiun. Inc., ut- lu 1~pcn Airp~~r: Ciosincv Ccn[ci; ~spcn, K'0 S I V I I, ~, e hcrebs establish our Irrccocable Standby Lcttcr oFCrodn in t our ~a~ ur up to an a ~_t~_ute amount of Sc~ cnty Fig e Hundred :cod Ao I nU CS Dollars IS"'iiiU.6U L SD). This credit is ucailubi~~ [or pu.. mcnr ugamst prescnrmon of yourdraftlsl at Sight dru~an on AECTRA B:AAI< C'OLOR:ADO, A;ATIU\:AL .~SSOC~IATIOA, beann~ the clause: "Dra~sn under Gedi[ A'o.'I Odd33-600 of V~ECTR.~ D:1AK COLORADO, \ ATI AAL :ASSOCI:ATIOA', Denser, Colorado", acconapamed by the tollotcin ~ documer,ts~. Thu onnmal Stundb~. Letter of Ctcdit and 4mendmentlsl thereto, iPnn~., "hich ~~ill be rcuuncd to wu tollotcin<~ our notation thereon of die amount of such drat[ di u~~n het sunder. I f tl;c amount of [hc draft is tai the full antoun[ oPthis Standby Lcacr of Gcdit, the on ~mal Srandhy Lcttcr ~,t Crcdir kill be rt.tincd by us. In the e~ ant of dratcin~~ all documents must be dispatched m one for b} reutitered maul or sooner scrcices directh to A'ecti'a 6unh Cola~adu, Aationul :Association; 1610 South Colorado Boulez ard, Basemen:; Dem er. Col orudo 3a___. This Sty~odby Lcttcr oPCredit espu'es at the counter of Vectru [3anl. Colorado, Aanonul Association, ut du close of business on the cspnunon dote Partial dr:n~mgs arc nllo~~cd under [his Letter of Gcdo. f , -~: li a', c e. yucsns,u ecnrzrn~„rz tl,ts c~arsn: ;on, Pl::u; ca!I ~,ts a: I "UI 9.!' 'n-6". I'~~ ~1 `)~' -,);~~ V1 e hcrj: by u~zirc „i[h _,ou that draft) si dra~~n under and in complimtco ~~ ith the corms o~ [hr Stand6_~ Leucr of Credit ~~ill he honored upon presenrrtirni m us as specrtiul hereto. THIS IRRE\'OCAQLE LETTER OF CREDI T' IS Sl:f3JECT ~hO THE C\IFOR\t CL ti70\IS 1\U PR.\C"ilC'E fOR U CL'VIEVTARI' LETTERS OF CREDIT I_00' REV ISIO\I, IA'TGR\ATIO\AL CIL-AMBER OF COMA ERC E PL [3LICATIOA AO 6Uil 4AD AS TO ALA"[TGRS VOT GOA~ER\ED E31 CI IL F CP. SI LAI I. QI~ l,0\ E \EU L31 ~\D CO\STRI ED l\ AC CORDA\CE \1lTFl iHF l ~\\ S OF -t~IIF ~T \l-P. i )I~ COL01~4DC1 Smccrclt. l cell ,i Qanh Calmed.. Aar oral \sstcia!ton 4utitor..'ed S~,cnawr; Tin, JU;~~03 hhis Lctta' ofC rcdit Reimbursement Agreement is attached to and made a part hereof to Prouu~sor} \utc i"\utc,.I d'.uca !yfap ~, 2Un3 in the original amount of SI.OOn.ilriU ~)0 hcttt ecn A'ccuz: Banh Colorado National association and Plaza 1 l7, LLC LF.T"CER OF CREDIT .a\U REI~IBCRSE>IE\'T .~GItEE~IE;\"f L[TTCRUP CRED[T AND RE[y1BL'RSI-.} (F\T aGREFyII:A'~[ ithi; ".Agreement"l dnrd Decenlher 23. ?0U8 is betty cen Plaza I 1 ~, LLC I the "Barrett er" I Inc, located :u 31 a yspen :Airport Busin~ss Center.:~spen, CO 81611, and V'ectru Bank Colorudu, Aationul associatiun 1"Sauk") locatc:{I at S3~! East I1}~nutn, aspen. C_'O., 8161?, Inconsideration fur in~etucable Letters of Credit issued and [o be issued by Bank during the term of dtia Agreement in amounts not exi eedim; Sc~ en Thous~nd flee Hundred and 1\0, 100 US Dollars, IS7,i0U.oUUSll I in the aggregate at any one time I the "Getters of Credit" h Bon'ott~er unconditionally a~~rees (jointly and ,et orally if there i, more than oue pa rt} listed as Bon~otcerl tcith Bank as follotcs' I . Reimbw~scment. Bon~ott~er shall reimburse Bank, at Bank's ufllce in inunediately acuila~le United States currency, the amount paid or to be paid by Bank or Bank's agent, or any party n Bank's behalf on each draft or odierorder, instrument or demand drattn or presented under the Le~icrs of Credit lan "Item"). Items shall be reimbursed on demand. ?. Commission and Charges. Bonotter agrees to pay Bank an issuance fee in die nntoui t of 5100.00 payable on the date of the issuance of such Letter of Credit and an}' 'subsequent annic rsary of the date of issuance. Bon~otaer also agrees to pay Bank I i ~ a negotiation tee in the amou~t of 18"~ of the amount of each draft under eaeh Letter of Credit. payable on the date o t such dratt~i~g, and (ii) an amendment fee in the amount of 53 x.00 for each amendment to each Letter of CrediGpayable on the effective date ofeach such antendntent. In addition, Bon'otcer shall reimburse Bank or any and all costs, expenses, char«es mtd liabilities incun~ed or paid by Bank in connection tt~ith any Letter of Credit or this Agreement. 3 Interest. Borrotccr shall pa} Bank on demand interest :u a thictuating rate equal to four p~rceiu 1-I° ~~) per annum abet e the Prime Rate on all amount paid by Bank or any other draft ec undanmt} Item. tiny Letter of Credit, or dtis .agreement Froth the date of such payment until Bank receitles reimburzment. "Prime Rate" means an index tthich is the Wall Street Journal Prime Rate if Interest determined flail}~ and published in the ~1~all Street Journal If, for anc reason beco tl the control of Bank, anc of the aforementioned index becomes unacceptahle as a refer ace for the purpose of determining the Prime Rate. Bank ma}, free da}~s after posting notic¢ in Bank's offices, substitute another comparable index for the oue detcrmine<I uuac~ephtble. This definition of Prime Rate is to be stricd} interpreted and is not intended to sett e am p~n~ose other than prof iding an index to determine the rnriable interest rate used herein. h i; not d~e loft es[ rate a[ tchich Bank may make loans to am of iU eustomen, either nett or in the tim:rc~. Interest shall be cakuluted on die basis of n 361-flat tear and paid for actual day,; elapsed. ~ Set Off. Borrott er authorizes Baal. to char^e am account or other tunJs in Bank', posse~bs~on tax the pat~ntent of thz Liabilities (as defined in Section S of this .-~ ~reemenU v._, .., ~~„~04 ~ Continuation of L.iabilih. Regardless ofthe expiration date ofany LetterofCredit. Borro~~cr shall remain liable hereunder until Bank is ickused from liability by ever. person, Finn. corporation or other entity, which is entitled to dra~~ or demand payment under am Letter ofCredit. h Documentation. Unless specified n, the contrary m env Letter ofCrecht application. or ^nv amendment to any Letter of Credit, Bona«er a_rees that Bank and Bank's currespund~nt, may rece~ce and accept I a) any [tenu or documents othencise in order. issued or purportedly isued by an a gent, e.~ecutor, trustee in bankruptcy, rceencr or other representati~c of the party echo is autho ~ized under such Letter of Credit to issue such items or other documents, as complying ~~~ith the tenns~of such LetterofCredit and (bl documents ~s~hich comply with the UCP (as defined m Section I ~ of fiid ygrcemen[I, The provisions ofelause l a i above shall in no ~cav br deemed to preclude the benet~cru} ofam' LetterofCredit from issuing and presenting [terns or documents underthe terms ofsu~ah LetterofCredit. Burrower agrees [o indemnify and hold Bank hurniless from each and e~cry claim, demand. liabili~y, loss, cost or expense (inchiding, but not limited to, reasonable attorneys' tees and legal costs)I ~s~huh may arise or be created by Bank'; acceptance of telecommunication instructions in connection kith any Letter of Credit. including, but not limited to, telephonic instructions in connection Keith anv «aiserofdiscrep~ncies. 7. Increased Cost/Tales. If, as a result of any laic, regulation, treaty- or directive, or any change therein, or in the interpretation or application thereof or compliance ~~ ith any request or dii~aetw e (whether or not ha~'in ~ the force of law) from any court or gos'ernmental authority, agency or ins ~umentality, anv reserve, premium, special deposit, special assessment or similar requirement, again t Bank's assets, deposits with Bank or For Bank's account. or credit extended by Bank. are impos d, modified or deemed applicable and Bank determines that, by reason thereof, the cost to Bank f issuing or maintaining flte Letters of Credit is increased, Bon~ower sgrees to pay Bank upon demand ~~ehich demaud shall be accompanied by a statement setting forth the basis for the calcul`ition thereof) such additional amount or amounts as wid compensate Bank for such additional cost. ,Determinations by Bank for purposes of dais Section of the additional amounts required to compr~nsate Banl: in respect of the foregoing shall be conclusive, absent manifest error &nruw cr flu'the agrees to pay an}' applicable levies or other taxes imposed in connection kith the Letters of Credi~ other dean ^et income tales payable be Bank. and otherwise comply w irh all domestic and t'orci~ah la~~; and regulations applicnble to ail transaction; under or m coml~cuon ~s ith the Letters of C redid. a' Collateral: .as security for die performance of all obligations of even kind ~ including. but not limited to, die obligation [o make pacment pursuant to Sections 1 through hereo~ owed by Bon~ower to Bank wider the ~otc, the Letter of Credit. or this A~*reentent, or other~~ use, ~~ heftier direct or mdircct, absolute or contingent, now or hereafter ezistine, or due oi' to beeon e due. how soe~ er created. arising or ecidenerd (the "Liabilities" I, Bon~ow er hereby assigns. pledg sand grnnts to Bank a lien upon and a security' interest in. and recognizes and admits Bunk's unqua hied right to the follow~mg described properly ia) 310 .aaBC. aspen, CO 31611, as ecidei~ced and go. cored be the certain Deed of Trust dated ~lay~ 5.3003, 16 i all bulanees. credits. ciepos~ts. account, or money s now or hereafter held b;' Bm~k w bleb Borrow er o~rns or m which Burro per mn~ ha~e:ut interest. Ic1 all Reno, till shipping document,, ~~archouse receipts. policies or r.~~~~.:s 1 ~ ,~„ .3DvtJ~1J J certificates of insurance and other documents azcompaur;ing or rclaun~s to am; I[em~, and all property covered by env such document or shipped or stored under or m cunncction kith ant Letter of Crzdi[ or an;r [tzms hthzther or not such documents of property is relzased to Borrotter or upon Borrotter's rzyuestl, (dl all dividends, distributions and other right ut or with respect tn, and aibstikutions for and products and proceeds of, any of the foregoing. and (cl any and all property tthielt Borrotter has gn~en nr at any hme in the future may Bite Bank as collutcrtl to secure am crediCtacthty tchich note or at any time in the future may be connected to or in am that associated tcith the Letters of Credit Ibeing referred to collectitel; as the "('ollateral"~ "Propertt" mcludcs any ri ~hts or interests in goods. merchandise, documents, secuntiea flmds, chrnes-in-action and any and al~other forms of property, tt hether tangible or intan~_ible, real. personal or mi.eed, and proceeds thzre~,E tchich nre otcned by Borrotter. In addition, Borrotter agrees: U) that Borrotter shall keep all Collateral which is customarily msurzd against any lots, damage, theft and outer risks, insurzd in amounts and by companies satisf~ctoty to Bank, and either assign the policies and certificates of insurance to Bauk or make the loss of adjushneut payable to Bank, and hold as Bank's agznt in trust for Bank any proceeds receited b}' Bo~~rutrer under such policies and promptly deliver the same to Bank, (ii) that if Bank at anytime diem such insurance inadequate for any reason Bank may procure such insurance as Bank deems neces~.u~y, ar Borrott ex's expense, and liii) to famish to Bank such certificates or other etidence tci[h respe~t [o the foregoing as Bank may request. Borrott er a_*rees to keep dte Collateral free and clear of all other interests and claims and, at any titre and from time to time, upon Bank's request, (a) to deliver to Bankam~ ofthe Collateral that may then be in or may hereafter come into Bon~otter's possession or control, Ibl to execute and dalit z'to Bnnk such further security agreement, financing statemznt and other document laud to pay th~ cost of filing or recording the same in all public offices deemed necessary by Bank), and to do sac i other acts and things required to perfect and maintain a valid security interest in and lien on the Co~llaternl to secure the payment ofthz Liabilities (and any reproduction; otthis Agreentzntorof any su~hh other security agreement or financing statemznr shall be sufficient for filing a; a financing s[aten~entl. Ic) to furnish [o Bank information concerning Bon~otter's financial condition, the Coltat ral, and mty obligors on dte Collateral as Bank may reasonably request, and (d I to deltter and assignto Bank additional Collateral lincluding, but not limited to, cash Collaterall of a anlue and condit~on satisfactory to Bank in Bank's sole judgntznt as additional sezurih for the Liabihnes if Bank eels insecure for env reason. Bank shall he dzemzd to hate eeerci,ed reasonable cart in the custody and pre;erturon of the t'r~llateral it Bank takes such action a: Borrotter shall request in ttriting. but Bank'; failure to cnmpl~~ tcidt an; such request shall not be a failure ro e.tercise rcasanabk care. If Borrott zr dozs not make ;~ rzquest m tcri[ing. Bank'; failure to preserve or protect any right to [hz Collateral ;hall not bz a f;~ilure to z~zrctsz reasor.ab!z ca!~e in the custody and present anon of the Collateral. ~ Bank mut_ whether bzfore orattzr the occurrznce of ant Default re fencd to in Seetion Id herzat~ at Bank's soli dtscretinn and «ithout notice to Borrotter, take am or all of the follutt inu action : I a ~ transf<r all or any part of rhz Collateral inro Bank'; Wentz ur the nantz of Bank's nominee. tt iih ter ttithout disclosing that such Collateral is subjzet to the szzurm interest under this \grezt~tznt. (bl nonft ant obligor; of am ofdtz Collateral to make pacment to Bank ut not :unounts duz on ro becomz due. Ic) enforce colleenon of am of the Collateral b~. suit or othzrttise. or .3~~'~(.?ti a surrender. release or exchange all or any part of the Collateral, Idi take conu~ol of tar; proceeds lincludmg insurance pruceedsl ofany of the Collateral, and Icl extend or renc~.~ am obli~~uUOn of am obligor to the Collateral, or <<runt reloases. compromises or indulgences forum' obh~~ation ofany oblieor to the Collateral. Thz security interest gnimted by thts Section shall continua. ^nd the provtstons of anc Borro~cer Agreement ~~hich secures the Liabilities shall continue. until such time as all Liubthtizs puce hacn quid m full and discharged and this Agreement has been terminated. 9. Risks/[ndemnilicatimt. Borrower agrees that any actin oromisston by Bank under or in c nnzchon with any Letter of Credit or any Items, documents or property shall, unless- in breach~f good faith, ba binding on Borro~~ er and shall not put Bank under any' resulting liability to Borro~r~zr. Borrower ~~~ill iudenuiify Bank and hold Bank harmless from and against each and every claim, errand, liabtlty. loss, cost or expense ('including, but not limited to, reasonable attorneys' fees an legal costs) to which Bank may be subjected or which Bank may incur by reason of any such ae ion or omisstott, or by reason of any action taken pursuant to [his Agreement (including, but not lun~ted to, by reason of (il Bank honoring Borro~~zr's request not to make payment under any [tem of iiil Bon~o~~zr's actions to restrain Bank from makin~_ payment under an}' I2m), unless in breach of good faith. Ln no event shall Bank be liable for incidental, consequential or special llama<_ s. The indemnities and oblieations of Borrower contained in this Section shall survive the pay'met t in full of amounts payable pursuant to Sections I tllroueh 3 hereof and termination of the Letters of Credit. 10. Discrepancies. Bon~ower kill promptl}' examine the copy of each Letter of Credit land atw amendments thzretol sent to Borro~~~er by Bank, as well as any and all instruments and docum nts delivered to Borro~~er from time to time, and, in the eaent Bon~o~~zr has any claim of non-compliance Keith Bon'owzr's instructions or ofdiscrepancies or other inzeularity, Borrower will inured atzly notify Bank Chereof in ~~riting, and Borrower will conclusively be deemed to have ~~~aive any such claim against Bank unless such immediate notice is given ns stated abo~ e. ~ 11 Exculpation. [n addWOn to d1z exculpatory provisions contained m the L~PC (as define hereafter in Section 19), Bank or its con~cspondents shall not be responsible for. and Borro~ zr's obligation to reimburse Bank shall not bz affzeted b}. (a) compliance ~~ ith any la~~ s. custon s or regulations in etfect m comllries of negotiation or payment of am' Letter of Credit; (b) Failure of am Item to refer adequately to an}' Letter of Credit, or fatlure of documenis to aceompang mn lte m nt nz~_otiation payment, or failure to note the amount of anv Item on the re~crsz of such Letter f Credit or to surrender or [o take up such Letter of Credit or to foncard required documents with [r ms, each of which provisions, tf contained in such Letter of Credit itself, it is a~_reed ma}~ bz «~an z b~ Bank, (clam refusal b} Bank to honor Items because of an applicable la~~ , regulnhon or ruling fanygocernmentalagene_,~~~hethzrcnlidorincnlid.orno~~orherenfterinef[ecLldluetsar die failure to act of Bank's agents or correspondents including. but not limited to. their failure to pay Items zcuusz of am la~~, decree. regulation, rulin_ or intzipretation of am eon ernmzntal aeznc~ tdonx ~uc or foreienl. Iz) the identih~ of am~ n~ansferee of sac Letter ofCredit or die aittieizne~ of the truufer it such Letter of Credit is transferable, i fl die use ~chich ma, be ntudz of am Litter of Credit or am ants or omissions b. am~ lizneEciat} of n~unsfzrez in connection dure« ith, or (gl the ie~, ..,e ,i~-~~~, JVl)iill~ 1 validity, suf~icioncy or genuineness of documents, or of any endorsement thereon, e~-en if such document should prove to be in any or all respect; invalid, msufficienL fraudulent or fumed. In furtherance of, and not in lunimtion of die foregoing, Bank may nceep[ document that appear on thew face to be in order. without responsibility for further im ctigntion. regardless of any notice or information to the contrary. Bank shall not be liable ar responsible for (al the time, place, manner or order m ~chich shipment or other performance is made or partial or incomplete shipment or other performance, I bl insurance of any property or any risk connected with mairancc, (cl delay m arrival or failure to arri~ e of any property or nny document relating thereto, (d I delay in givurg or failure to giee notice ofurrip al or any other notice, (el die ~~alidity, form, sufficiency. accuracy, genuineness, tnkiticahon or leg 1 effect of any documents, or the ealidity, genuineness, falsiticahon ur legal effect of any Items, (t~ general or particular conditions stipulated in document or supenmposed thereon, (g~ the deseri ~tion, existence, character, quantit;, weight, qualih~, condition, packing, shipment, arncal, delice~y or slue of any property purportedly represented by any document, or any difference therei from dial expressed in the documents, (h) the act or omissions, good faith, sohency, perfa~nance or standing ofany vendor, shipper, issuer, consignor, carrier, insurer, userof the Letter of Cre it, correspondent or oiler bank (~chether or not selected by Bank) or anyone else, h) loss ot. ur errors, omissions, interruptions or delays in transmission or deli~-ery of, nny messages, letters or doctor eat by mail, cable, telegraph, telex, facsimile or otherwise and whether or not m cipher, (~ ~ the h' nslation of, or errors in translation or interpretation of, credit or technical tetnis, (k) nmisnyission ofcredit terms y~~ithout translating them, or (1) consequences arisingout of ~c[s of God, interruptions of communication facilities, tsar disturbm~ces, abnormal or emergency condition;, or other $auses beyrond Bank's control, or out of strikes or lockouts and none of die foregoing shall affect or impair, or prevent Che vesting of anv of Bauk's rights and remedies or Borro«er's obheations hereunder. 11. Costs and Expenses. Bon~o~eer agrees to paq on demand all cost and expenses I mclu~ine, but not limited to, reasonable attorney's fees and legal cost) in connection ~s~ith (il the Letter of Credit or dais eAgreement or it enforcement or 1 ii 1 am; action or proceeding resn'aiuing or seckmg to resu~ain Bank from pny~ing, or socking to compel Bank W pay, any' amount under nny Letterof Credit. L. amendmentand;orJloditlcationofl,ettersofCredit [FBnn~o«errequestsBank ro inci ease the amount of any Letter of Credit, extend or renou anv Letter of Credit, or othern~ise nu~dif~ the terms of nny Letter of Credit. Borro~s er agrees that dos :~~_reement shall continue to hind Bun~o vet wnh respect to am action taken by Bank or any of it con~espondenG in accordance ~~~ith such ii~urease. extension, rene~~'al or other modification. I-1 E~ cots of Default The occun'ence of anv of the following e~ cots ;hall constitute :vi "E~en( of Default" hereunder: lai Borro~~er shall fail to pay any amount payable under [his agree~nen[ ~~~hen due: tbl Borro~ser;hell tail to perform or observe an; other [eon. co~cnunt or agrce~~tent contained in this :Agreement, lcl die filing by~ or against Borro«er or am ~ uaruntor ofthe Liabil tie, 1°Guaranror"~ of a request or petition &x liquidation, 2or~anization, arran_~ement. ad~usr~~ent of debts. ad~udicntion as a bankrupt, relief as debtoror other relief under the bnnkruptc}. a.~, J l l J Q V insolvency nr similar la~~~s of the L'nr[ed Stales or any state or territory dicreoC or any I~,reign ~urisdicnon, no~~ or hereafter in effect. I d i the making of auy~ general assignment by &xro~~er or am Guarantor for [he benefit of creditors; die appointiuent of a recei~ er or tnrstce for- Bon'o« er or any Guaranltor, or for any assets of Bon~ower or any Guarantor including, without linutation, the appointment of or taking possession b; a "custodian", as defined in the federal &mkruptey Code or othencise, the making of anc, or sending notice of any intended bulk sale, or the institution by or agarnstj Burru~~er or any Guarantor of any other type of ulsohency proceeding under the federal Banknjp[cy Code or othen~~rse, or of any formal or informal proceeding for the dissohnion or ligwda ion or setdentent of claims against or ~i~inding up of affairs oC Bon~m~ er or any Guarantor'. (e I [he death or dissolution of Borro~~ er or any Guarantor, 1 f) any provision of this ~A~~recmen[ shall at am tin e for any reason cease to be Valid and binding on Bon~o~~ er. or shall be declared to be null and vo d, or die validity or enforceability thereof shall be contested by Borro~~ er, or a proceeding 'shall b commenced by any governmental agency or authority having jurisdiction over Borrower seekim* to establish the invalidity or unenforceabiliry thereof, or Borro~~~er shall denv dial it has any or ftutl er liability or obli~~ation under this Agreement; or (g) any default shall occrn' under any other locum nt executed m connection herewith or wide the Letter of Credit. It'auy Dent of Default shall have occ«trod and be continuing. Bank may: In) b_, written notice o &~rrower direct Bon'ower to pay immediately to Bsnk an amount equal to Bank's potential liabili -ender all Letters of Credit, whether or not any- Item shall have been presented ti~ereunder; (b) off et any funds held by Bank; (c) puree any other remedy available to it wider the :Agreement, or pur~uant to the terms of any other documents executed in connection herewith or with the Letter of Cre it; or (dl take any and all actions ~yith respect to the Collateral as allo~~ ed by applicable law. I ~ Documents. Borro~~er agrees that la) Bank may accept as "bills of lading" wider Letter of Credit airy documents issued or purportedly issued by or on behalf of any ean~ier which ackno ledge receipt of property for transportation, ~ahatecer the specific provisions of such docun eats, (bl Bank may accept as documents of insurance either insurance policies or insurance certifi ales. (c) k3ank may accept as sufficient and controlling the description of any property cor~tai ed in env invoice nohyithstandine that any bills of lading, insurance or other document; (whicl Bank may also accepp nurv contain a description different from that contained m such incoic ,and Id) Baal: may accept any- document containing stamped. ~~ritten or t~pcwritten proyis ons thereon. ~~itether or not signed or initialed, and may assume cunclusn eh that the same nacre f laced ~~.ith authority on the document at the time of its issuance by the currier or alter issuer or any a_ent thereof l6. Release of Documents or Prroperh In [he event that Bank recci~ es some but not all of the documents against ~~hicit drawings ntay be made and. at Bono~~ er's request, Bank delivers such ocumenr to Bon'o~aer or [o anyone else, or in the event that Bank. at Borro~~er's request, releas s or consent to the release of some or all of the property shipped or purported to hay e been shipped under any Letter of Credit prior to the presentation of the relati~ c Item. Borro~~ er a~arezs to pay B nk on demand the amount of wt~ claim made against Bank b~ reason thereat and authorizes Bank o honor such [tam when it is presented regardless of ~yhether or not such Item or am document ~~ hich may accompam it complies ~~ ith the teens of such Litter of Credit. a,. ~>.: { ~t~;>~~ly I ~ Dcla~' and 1\ ai~~er. An delay in die e.ercise of Rank'; rights or remedies shall be deemed a ~~uicer, and no partial exercise of Bunk's rights or remedies shall preclude the further exercise of anc right or remedy \~~ ~~~siccr shall be effective unless in ~~~riting and then only as to [he spleci~ic subject wai~cd. I S V'ntice ~btices to Bank shall be addressed to Bank'; address noted ahoy c, and shall be effdcti~ e ~chcn recei~ ed. ~'otices to Run~o~rer and any other parh~ shall be effechs e when green or sent by mail, cable, telegraph, telex, facsimile or other comnnmication addressed to the last address, telephone number or communication terminal of such part; ~~~hich appears on Bank's recor~s, ~~~ith the same effect us if they ..ere actually del:~ered [u <ind reeei~~ed by such Peron. "~'oti ~e" shall include any reyuest, demand or other communication. 19. Construction and Interpretation. The Letters of Creditand this A~greeineutshall be ~ro~"er red by the la~~s of the State of Colorado, including the Uniform Commercial Code. Unless moon ~istent kith Colorado law, the Letters of Credit and this Agreement arc subject to the terms of dre C` iiform Customs and Practice for Documentary Credits (1993 Recision), the hi[emational Chain er ofCommerce Publication \'o. Spp (°UCP"), as hereby expressly incorporated by t'eference. ~~ 3U. ~ssigus. This Agreement is bindine upon [he parties hereto and their respecti~ e legal rcpre~entames, including without limitatiun any personal representative, ececu[ur, trustee. copse vator or guardian, heirs, successors and assigns. ? 1. Sep erability~. If any team or provision set forth in this Agreement shall be im~alid or unenf rceable. the remainder of thin Agreement, or the application of such terms or provisions to persoi,s or circumstuuces, other than thuse to which rt is held unalid or unenforceable, shall be construed in all respects as if such invalid or unenforceable tens ur provision were omitted. 2'_. .\RBITR.\T[O\ DISCLOSURES: a. .aRBITR.aTlO\ IS FI\.\L A\D BI\DI\'G O\ BORR0~1'ER .a\D B.\\K (COLLECTI~"EL1', THE "P:\RT[ES") .-\\D SI BJECT TO O\Ll' ~'ER1' ~, LI~I[TED RE~'[E~~" Bl' .a COLRT. B. I\ .\RBITRATIO\ TFIE P.aRT[ES .aRE R'.al~'1\"G THEIR RIGHT TO LITIG.aTE I\ COPRT, I\CLL'D[\G THEIR R[GHT TO .a Jl Rl TRI:\L. C. DISCOV'ERl' I\ .aRBITR.aT10S IS MORE LIMITED TFia\ DISC'O~~ERI~ I\ COLRT. D. \RBITR.\TORS .a RE \OT REQC"llZED TO I\CLI DE F:\CTL.aL FI\DI\GS OK LEG.\L RE.aSO\l\G I\ THEIR .-\~~.aIZDS. THF. RICI(T TO.aPPE.\L OR SEEK ~fOD-FIG-\TIO\ OF.-\RBITR.aTORS' RI LI\GS IS \'ERti LIMITED. E. a P VV~EL OF.-ARBITRATORS ~[[GHT 1\CLL DE A\ AIZBITR_ATOR \V'HO IS OIZ \~.aS .aFFILL\TED «'ITH THE 13.a\hI\G I\DCSTRI. :3~~~1 s E. IE 1'OL FIAT E QLESTIO\S .a130F T .~RI31TR.~T10\, ('O\"SILT 1'OI'R ~T'LOR\El' OR THE .~~[ERIC.~\ .~RBITILaT10\' .~SSOCL~T10\. 1 al An;. claim or contro~ erne I"Dispute" j behczen or anumg the Portico and their assign;. including but not limited to Disputes arising out of or relsttin~_ to the I.etteis of Crcdrt, this :Agreet6tent, this arbitration provision ('"arbitration clause" ~, orany related agreements or insh'uments relating haroto or delis eyed in connzetiou here~rith ("Related Document"l, and including but not lunitcc~ to a Dispute based on or arising from an alleged tort, shall at the request of any Party be resoh ~d by binding arbitratiun in accordance with the applicable arbitration rules of the American Arhitr lion ?,ssociution ("the.-ldministrator"). The provisions ofthis arbitration clause shall sun~i~'c any to urination, amendment, or e.rpiration of this Agreement or the Related Documents. The prop is ons of this arbitration clause shall supersede any prior arbitratiun agreement bete een or among the Pattie,. If any' provision of this arbitration clause should be determined to be unenf rceable, all other provisions of this arbitration clause shall remain in full force and effort. (b) Thz arbitration proceedings shall be conducted m Denver, Colorado. at a place to be detzrn{med by the Administrator. The administrator and the arbitrator(,) shal I Isar r the authority to [he ext nt prac[icabk to Cake any action to require the arbin~ation proceeding to be completed and die arbina orl s t u~r~ard issued within one-hundred-fifty (150) days of the filinu of the Dispute ~~ ith the Admit istrator The arbitrator(s) shall have the authonty to impose sanctions on an} Party that fail; to con ply r~~ith time periods imposed by the Administrator or the arbitrator(s), includine the sanction of sun manly dismissing any Dispute or defense kith prejudice. The arbitrator(s) shall have the author~q~ to resole e any Dispute regarding the terms of this Agreement, this arbitration clause or [he Relate Documents. including an}' claim or cont'orersy regardinc the arbitrability of any Dispute. All lin itauons periods applicable to any Dispute ordefznsz, ~cherher by statute or agreement, shall apply o any arbttration proceeding hereunder and the arbitrator(s) shall hay z the authority to decide ~~ teeth r anv Dispute or defense is barred by a limitations period and, if so, to sununarily enter an accord dtsmissmg anv Dispute or detense on that basis. 1 he doctrines of compulsory counterclaun, res juc~'rtta. and collateral estoppel shall apply to any arbitration proceeding hereunder so that a Pur[y lJu~~St 'state as a counterclaim in the arbitration proceeding anv claim or conn~o~zrs~~ ~s~hich oases tit of the tansnction or occurrence that is the subject matter of the Dispute. The arbitator(sl nun ii the arbitaton sl' discretion and at the request of any Part}. (1) consolidate in a single urfiiu; lion proceeding any other clams or controversy im oh~im_* another Party that is substantially relater to the Dispute ~rherz that other Parn' is bound by an arbitration clause kith dte Bmtk, such as hotros ers. guarantors, sureties, and o~cners of collateral, 131 consolidate in a sin<<Iz arbitation prose ding am other claim or controversy that is substantially similar to the Dispute; and t~l administer multiple arbitration clauns or controversies as class actions in accordance kith the procu~ons of Rule '_ of the Federal Rules ofCivii Procedure ~ Ir i The arbitrator(s) shall be selected in accordance vctdt the rules of the :Adminish:~tor from anels nutintnined br the :Administrator..A sin ale arbitraror shall hn~ e e~pcrtise in the subject matter of the Dispute \V~here three arbitators conduct an arl?ih'ation proceeding, the Dispute shall be derided br a mawrin rote of d1e three arbitrators. at least one of ~~ hour must have expertise in the at jest matter of the Dispute and at least oar of whom must bz a practising atromev. The urbitrr{tonsl shall a~~ard to the prevailing Parry recover} ufall cost and tees lincludin~_ attomevs' ire, ~.,~ fees and costs. arhih~ation administration fees and costs, and arbitraturlsl' feed. Lhe arbrtruor(sl, euhzr durinz the pcnilency ofdiz arbitration procezdinaor as part of thz arbitruuun a~card, alsu may grunt provisional or ^ncillurv remedies including but not linuted to an a«~ard of injunctive relief. foreclosure, sequestration. attachment, replevin, ~arnishmcnt, or the appointment ofx rceener Idl Judgment upon an arbitration award maybe enured m am covet havingjurisdic[ion, subjectl to the follmving limitation: the arbitration award is bindin~~ up~m the Purtizs only if the amounn does nut exceed Pour iA[rllinn Dollar's (S-1,000.000.00); if die a~card eecceds that limit an~- Party gay demand the n~~ht to a cu« rt trial. Such a demand must be tiled ~~~ith the .Administrator within thu'ty (301 days follo« ing thz date of the arbitration award, if such a demand rs nut made widtin that brae period. the amount of the arbitration award shall be 6indin ~. The eomputatiun of the tote 1 amount of an arbitration a.. and shall include amounts awarded for attorneys' fees and costs. arbitra ion administration fee; and costs, and arbitratorlsl' fees. Ie) I~oprovisionofthisarbrtrntionclause,northeezerciseofan~ rightshzreundzr,shall lunit tI e right of any Party to' 11) judicially ornon-judicially foreclose against any real or pzrsonal proper _~~ collatet'al or other security; (?I exercise self-help remedies, including but not limited to reposs scion and setoff ri~_hts; or (3) obtain from a com't ha~~ing jurisdiction thereo~cr any pro~~is~onal or ancillary remedies including but not limited ro injunctive relief. foreclosure, segues ration. attachment. replzrin, garnishment, or the appointment of a reeei~ er. Such rights can be ese~eised at any time, before or during= initiation ofan arbitration proceedinc, e~scept to the ex[eut such a~tion is contrary to the arbitration award. The exercise of such rights shall not constitute a wni~ zt{ of the right to submit any Dispute to arbitration, and any claim or conn~o~~ersy related to the zzerci~e of such rights shall be a Dispute [o be resoh~ed raider the provisions of this arbitration clause Am Party may initiate arbitration w~idt the Administrator; hoe~evzr, if any Party mihates Irtigatibn and anothzr Party disputes any allegation in that Irti~ation. the drsputin~T Party--upon the reques~ of the initiating Patty--must file a demand for arbitration with the.Adminishator and pay the Admir~ua~ator's filing fez. The Parties may serve by mail a notice of an initial motion for an order of I fl ~otv,~ith;tandm~~u the applicability ofan}~ od~er la« to this.A~arzcment the arbitration claus~or Related Documents benreen or a~uone d~z Pelves, the Federal :Arbitration :Aet, 9 U.SC l et az ., shall apply Co thz construction and interpretation of this arbitrauun clause 1V' \\ [T\L-SS A\HEREOF_ the parties hereto hate caused this Agreement [o be dub eeerut~zd and deh~ Bred by thew respective officers or representati~ es thereto duly uutiwrved as of the dude first abo~ e written. PL;\Z4\ 117, I\C B ~ . ,.:.--.----- ~-' ~ . ~~' `St~~i~Zn ilsmsen. `[ana~zzr of Plaza l~. LLC' BASK: y'ECTIZ~ 13:\\1~ COLOR.4U0. \.1TI0\.aL .a5SOC1:1TI0\ B}._ Titlz: i {{~~+l i JCl'ti'.,1(~ io .~~„~ ~ COMMERCIAL GUARANTY ~' -- Principab Loan'Date Maturity Loan NO 'Call ICou' Account' Officer 'rtpitials Pg(arences n rhE shadetl area are for Lerde se rb) and Co not Ilmll the appr.CadPri) of this tlowmenl to a / p n¢blar lean or item A n'/ ignl ap0',g CCr.alnlr " flas GPen Omll[aC ]I:e'O aFr a^^ h nl'~d pn5 BOrrOWefl PLAZA 11 ], LLD Lender VEOTRA BANK COLORADO. NATIONAL ]t0 ASPEN AIRPORT BUSINESS CENTER ASSOCIATION ASPEN, CO 81611 ASPEN BRANCH S]d EAST HYMAN ASPEN, CO 81612 GUdfdnlnr' STEVEN HANSEN J10 ASPEN AIRPORT BUSINESS CENTER ASPEN, CO 81fit1 CONIYINUING GUARANTEE DF PAYMENT AND PERFORtdANCE. Fcr yece antl :alua'ele inns dera;er G=aranLr ac.o:ulzl/ an] amm~dnipnal) ^uara^tes full and punctual pa)menl and sahs`aamn of :he Inde Gladn¢ss or Borrperer m Lenosr ono C'e partccndree and dscharge pf all eorrQn Er s pcbgdllens unCer the Mle antl the Related Ce vmenls. This Is a gearant/ of pavmerl and penonnan[e and rot of cC'lecacn. sp Len • r c r erlerce This Gua:arly agars! Guararaor 2aen '.vnen L¢ndar has rat exnausletl Lende` s remeCles a,arst anyone erse pbligaletl tc ;. / ; ¢ In Catledness or agars; am/ cdllaleral sen.nng the InCebtedness lhls Guararr/ or a^; other guarani'; .^.f If.e InJat'em'ass. Gcamn:ur /?II f('.ake am) payr'.enls m Lender or Its Order en Cemand rn legal lertler of the Unil9d Slalas of Pmgnca_ Ir sama4ay funds wdhcu' set-all cr ] tl = c _t_ ~ la ~ and w II wren. ~_ ¢ f 0 ,,: hl a Icrs • ~ _r the Nple a^c Rz antl Co : ¢ s. UrCer r. Gumaro/ Ga I rs lracll)su lnu:ed and Guaraners ctrya„ors are .citnb ng. INDE TEONESS. The wcrC 'Ir Ceoletlnes" as used m this Guarani) means a I pf INe pr papal art~~ccnl ou¢:amm~y •rcn Dire to Ilme and at a^/ one r - _ ,imes, dccued uopaW ntleresl Iherppn and ail cclleclren cesis and legal expanses relalutl Pi's RIC penntleC o, a v attorneys' (vex arse g •rom any and ad tlecls, Ilabl,lhea artl ootlgalbns pl every nawre or farm, new exlsling cr nerealter an~cg or a<pulretl that Borm~.+er mtlrv fually e .ecu~mb) or mter_Ranyeably with ethers o s pr will u e Lender "Intlettedress `InduC2s, 'aimuut Irmrfarwn_ bars. advances. tlebl vermaft mdeblecness, creCrt cartl Incebrednzs3V lease optlgauons IrapJrozs and ocLgaupns antler any Interest rata prplec'von ayre menns or fora gn currerc) enchange agreements or ccmmodif) pace pntecucn agreements. other ctligagons. and liabilities of Borrwer and ny present or future µtlgmenls against Barmwer luture advances Ipans er l2nsacildns ;hat renew. exlevtl. matllP) rellndnce. c nsohtla;e er s bslilute these Cebls. Ilabdllres antl ptllgalions wYelner volunlarlly pr mvolun:erhy mcurredl due or to b¢come tlue by :heir terms cr acce eranon' absolute o an Lngenl', .iculdaled or un6qumaled. determined or Codetermined, erect pr ntlired; pnrr,an/ or secentlary In patine sr ansiry Irpm a guarani) cr surely securetl er unsecured; pmt or several er joint anC severe., evlCenced by a negoliaple or nemnegouable rash Trent cr venting. priglnated by Lentler or another Or others'. barred cr unenfc¢eadle against Borrower for ary reason •.vnatsoever', for any trans cUOns Thal may be vortlable (or eny reason (such as m(ancp insanity, ultra vves or pthervlsel' and origmaletl then re CUCed cr erin uisFed artl Ihen aRervrards Increased pr remslalatl f L2 del G e52f y' tl$ one Jr nl.re .JUaranl es, p(I dYOr raC2 5 'dillOnd 25 (CIT G Cr dE' (~. l J Cer d y'i:drd 1 ES had e cc ulal e Tn's Guarani) shall net (unless spe Fcall) p o tletl below to e c .. aryl affect cr vat ale a y h Iher guararl es Guar ntor='iac 'ly w II be Guamrlor s agg:eyale I'ab I't/ ~ .^.er the terms of this Guararl, and any such of er url m r a ea. i.ara'I es CON WUING GUARANTY THIS IS A "GOilTINUING GUARANTY" UNDER VlHICH GUARANTOR AGREES TG GUARANTEE fHE =ULL ANG PUN TUPL PAYV1ENT RERFGR~bI>NCE AND SATISFACTION OF T9E INCEBTEONES GF BORPAbVER TO '_E>IDE R. NOW 'c%IBTING GR TER AFTER ARISING CR ACQUIRED, ON AN CFEN ANC CONTINUING BASIS. ACCORDINGLY AhV PA'/M1IENTS f.IACc CN THE WGE TEGNESS N/ILL NOi DISCHARGE GR DmIIN ISH GUARANTOR'B OBLIGATi0N8 ANO LIA6 WTY UNCER iHiS GU ARANT'/ PJR ANY RE?rl WING ANp SUCCEEDING L\OE3icDNcSS E'/EN `ivHEN ALL CR PART OF -4E OUTGTAPi01hG INOE3 =ONEBS MAV EE A ZERO 3A NC's FR01.1 TIi.IE TO TIP.IE. DUR TION OF GUARANTY Tnls Guarani) well ;eke eKect when reserved bV Lencer wi;houl the necesalry of any acceptance by Lender. cr ar.. polls to Guarantor or Ic eerrower antl will cenllnue n full force until ail the Intlebledness Incurred ar contracted oefpre recelpl py Lender cf am/ oboe of evocation ;hall have been fully and finally paid and satisfied antl all o! Guarantors other eollgatlons antler lhls Guarenry mall have beer pets-anretl n tali II ~ u a r zlncls to ~avcna Ihls -Try. anlw '~dv wry Ju - r:bn - =nmr'a . , r.a.:,a ~. revo anon must be mailed ;o~Lender by cenrhetl mail. al Lender's adCress listed above or such other piece as Lencer may Cesgnale m wnnng~ Nnib r revocation of lhls Guararp/ wJl aGply only Io ne'.v Indebtetlness created alter actual recelpl by Lencer of Guaranter'; 'wnlten revocalier Fort Is purpose and wllhout lira LLahon. the term "new Indebtetlness" does not mcluCe the Indebtedness which at the time of ncdce o! revo a:ion Is uenbngenC unLyulCaled. unde(erminetl or not tlue and which later beccrres abscluL==. IiyuiCatetl CeLrmmed or d'ue. FCr lhls pUrp 52 dnd WIthOU! IlmllatlOn, "n CtV ndebt¢dn¢5$" dCaS npl 'InCVCe d O( pdn Of [h¢ nd¢bl¢dnass Ild[ Is. inCVmed ty BClIC WCr prlCr 10 revo auor Incdrretl upper a comml:menl Ilia[ became b:nbmg before revpca:ioq any rene'.vals, exlenslcns subsllWtiens. and motllficaLans pf the I dabletlness. This Guaranty shall tend Guarantors estate as to the Indehl¢Cnesa created both before and otter Guaranlpls Jed;h c n^a a ' -r -' ' p ^ _ _ coy Iayartlla5s yr LEUder'> = udl npGcz of O ~, aY:. G,.blec[; ;he fpre5uirg. uaar,;cFd = -u:ar p: ad,-.-""dldr c :,ttor legal reprserlalive may terminate Ihls Guaranty In Iheasame manner In which Guarantor might have lermmaletl It and wnh the Sarre effect. Rzia sa of am/ Clner ^yuaranlcr or lerminaacn ct any other guardnly p( 0e In Ceblednass ;hall not affect :he Ildb'IIiD) of Guarantor under Ih~s Gear my P 2voca; on Lencer reaer. es tram any ece c mare Guarantors shall not afte[l :he Ilability of any ~amalmrg Guasrlurs unCer Ihs Gear sty I[ is antidpatetl that fluctuations may occur in the aggregate amount of the Indebtedness covered by this Guaranty, and Guararaor speci ically acknowletlges and agrees !ha[ reductions in Ne amount pf the Indebtedness, even to zero dollars (4o 001, shall not constiWle 8 term) anon of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Inde redness remains unpaid and even though the Indebtedness may from time to time be zero dollars (40.001. GUA ANTO R'S AUTHORIZATION TO LENDER Guarantor au:honz=_s Lentler euher before or aher a evocation hereof without noUCe m demantl and without lessening Guarantor's Ilability under this Guaranty, from rime Ip time: IAI prior to Ter pcahon as set bM above to make Cna more ad Cllienal ;eG,reC pr unsacbred Ipans 10 Borrower tC laas¢ apvpnent pr Caar goods 10 Borrower or Jthervns2 to eientl atldlu pal cretllt IC BLrtnwer lot '.C allay spmpromise, renew. ex;entl aC~e'ardle, pr pL9ecvise Change one Cr rb•s limes ;te brae for payment 'r pl el L¢T,] Of ;na mdeClap'lasi C! dny pdn ]I lne race Vl2Cnes6, m ~ in Cr2a5¢s dnd d2'_redaas C( II`.¢ r a O~ nltr¢;1 pn 111E I o ness' a to 6.p s ay to rapaatac and a/ tle for lpnge a e o~31 a Ipan lam C' .e eke artl I o C se 1, for II e pa a-I of 1. s 'ar3rb/ n he I dcL1..Gl¢s~ arc Cx^ to^.g Ie42, '.a3' semi., ra,e. Id cr „e.. ~e ncl ,J prrt2Ct and ease. a sbc9 a~ r r ', h - ,m hoot tna ;ubslaubpn c! n :ollateral: ID'. Ic rel¢ase. sub Y.Ilu!e agree not tc sue. or peal wM1h a =na a mcrE o(Borrov: en's swpLes ~rpo sers cr other guararlors eon ary'erms n any mange Le: e Iray c,ocse. iE, to e m.. )how '.e azd v:hzl apol ,.d•p cf pa: en's anC ca^_ rs .,Fat' he ^aCZ o~ 'he Inset zcres5. IF I apFl' soon sec' m) and Clrecl .I e er or rrarne of sale urer=pf 'naII,C r~ whh u1 Lmltap Cn. a nanludlcial Sala permlVed by Ne terms u( the controlling se[urii; agreement pr deeC of unsl. d5 Lender m Its Clscra Lnn may e4=rn Ire'. ;G1r to se.l. transrer, as6gn or grant par.~apa:ions In dll or am/ pan of tFe Irdeblatlneas. artl 'H. to assgn o ra^6fer the Guar rly m .,role or rn part. GUA NTOR'S REPRESENTATIONS AND WARRANTIES. Guarantor reoreserls and 'w ra•rls to Landis ;hat lA~ = resenl,at -ns cr ayre moils of any klnC have been mace to Guaren:or which wOUld hmll er GuaIIF/ In eny way the le'ms CI Inis Gaa`dn;y oiB= this Gusarly Is at Bc c v eG'uast end I a: the s a('' erd2 I 1 "argrlC ha f I povve., r gh a oath r"' lp I ac Ili s 3uarac', iDl ocrs C s of !F ~ Gdara I c., nc' cpr. I c. 'n th pr resu'll n a ,._Idr.t unCZ a v dy ea".e pr ~. gr .~ a , Gntl' g .F%n C.HrarlC artl ncl r=salt Ina .laatnn o any la'.v 2g.,lal cn coon tlecr9e e prCar tip GllEatlE w G„srar:ur _ - aelo• has not and eul not H'Ihoe' Ir_ Wnt;2n cOnsE^: pf L9rd2r 5211 :2452, d5~.y'r er LUrrh2r h`,pClhecala. VdnsfE' c nIf1E.^.\I~e U3i5CC5e Jf all C SLbSldrl: a' Guar ^Ctors asoels. or env In:e25: :Toroth = upon Lantlus reguesl. Guarardpr wrC prpade b Lander (manaal aN o C.1 n m8.lon In acs= 'at = ro L er. a - sl. s a ! m`s w h r e. Ly ha5 C8e't anC =I';h.r=_ Iray ' I .c l a. a c. it p .e•. .o =rd r sand' I'I Ca r_E and ~~ ¢., n 3II n,a e'e' r ..s an tarry prgs¢rl Gl.a^a' ors Tool ..., .,,, on a f ne tlal s re na r'_ al m(or ~.atlcr s pme',ted. co mal¢nai aC.eree Change has C......rtetl m uuararl.Ya loarrc al vor.Clllun slrc¢ Ilia dal=_ p( the n'asl recent bran IaI salzmzrls prendetl tc Lencer and ro ¢:erl has pccumeu 'xn¢h maY malenaP/ ae.ene,; aRect Guaan:ohs srar.aal c_ ~. lrt, I rp t Ier v esga6C rr s.a roe prxeetr,ry a s, ear action IIn LWCIrg Ihose to ~ pad Ia RSi age's. C.. aranL p ~Sirg c .tea e ad. 'L, endu na., catla ne represerralior m Guardola as le :he cretliavonh ^eas of Bormv.zr and u' Guarartpe has esaphsnda ode.; 'ale mea s of able rang `r m Berrv..er on a c aavs mfcrmation regamng 6orrower5 Orannal conC Oan Gua`a rdcr ag:xs to 'neap a2eGUa'en/ nformed trams means pf any fatts Ve.ents. p circlm 5larces wF,ch msnt n a99 c; Gi n:ors asks :nCer tins 'n or al on er dcc.,ments dcyu¢ed Cy Lanner r the o rse .,( Its elatcnsnlo JV h 6c. v_r a GUAI,pANTORB WAIVERS. ERZe Gt as pr_hlbded ty appocaple law, Guarantor waves any n5M lp Tesoro Londe: AI le copra^„e le=d rg e) o en d ha .retl'.1 o Bo o - 16 tom ' e a,) presandne tl, oast ema `tl, a t c of a r / k r I' g o'ce of a.. p8) e 1 Cf lh dablfCrl¢ss of dry cnCd/ C 1 aa.aC 10 arI L0131Erd 0 p Ca 013r' a' .O O n n CI p Ih¢ pdn 'Jf B f a f t `', ~! La de a y a eq e V u, c Ili g a att co e t x In ,he IndeC e n o ecto h ne al o of ne' C tl c a: r J 1t Icars pr .,bl ya'. s lp reso I (or par rent or to „ro.eec ,, rec`I) cr al Crce ay3lns a'y pers=y ,. bd ng Borrpwe' er iry Clher gua'3'~:Jr COMMERCIAL GUARANTY Loan No: 7106483-6002 (COntinu0d) Page 2 rDl to proceed tluecll/ agarnsl or eaFaUSI any CCllateral nalC by Lender from Borrower any other quaramor, or any other pe5en lu to g/e nolrc0 CI Ind !erns. Irma. and Clare cf am/ public pr prv/ale Salt of personal property securih/ held by Lender from 9orrpwer or lp vpm GNr bilh any Dinar apuricabia prot'Smns of the Umiorm Corrmerc,al CcJ¢. (Er Io pursue any dthe~ reme0/ WINin LenCer's power' Cr IG, tp ccnmlt any act y pmts a~or al an/ kinC cr al an/ time with re5Dec1 to any maiter'.vnatsoev?r Gua nr:pr also v elves any and all riynts pr Ce(erses based do s rerysnlp pr Impartment of Col aleral ~ncudmy. bvt not IlrnteJ ;o anf nynts c .. ~_ s or s g by reas;n rt rA, an/ "one action' 'env-Cenoercy" la'.v a any ones la't+'.vmm~ ma', pro:3'[I LenCer G m. Iry any rose n pr r p -r,r tort. mdt.Cing a claim far cencenc] ayairst Guarantor before ar agar Lencar's rommencemerd o vcm ple'~ICn at arts ICrecasLre a eChar Jdlc.d'y O/ O'/ P~ErCISe cf a pawar Cf sale BI arty eEGlrpll of remE'Jtai py LerdE( whlCn drESlrCys of CIF.?nVlse a stoat, af`tl C15 Gaarenmr's subrogaL.cn rights or Guarantor's ngris to prccued agatnsl 8orm.ver for r mcsrsemen:. rte:eCing w.thard Omita. cn ary Its pI Wyss Gbaenler may sufi_r tr/ :edson of any Ian Irma Lng. qualrP/rny. or discharging the Intlebtennass. 'CI ary dlsaDlllly or peer Ce`ensE of Borrr~wer, of any otter yuaranicr or of any olhe~ person. or by raascn p( the wssa:'.cn of Dorro'.ver s'latility Gam an/ cause urasce'ter ,then Ihan pa/meat m full Ir. legal terrier of the Indeeteaness, Ipl am/ right Ie Balm Clscnarge pl the Inbertadness on :he Basis of ury„si lied ~mpa~~-men: of any collatp`a'. for the IndnCaCress 'I ary statute of Ilmltaaons. If at ary time ary ac: on ur su : breCg_ nt by LE .cr a5a ns; Guaranty s commenced 'sere s outstanding IptleetECness WHicn s net CarreO tv em/ apDllcablc stag-[e el Ilmda!ipns. cr rFI art me `arses gi E ~ o g artor at I ar e ut/ Ire th a tua pagment apC pertorma c('r+ Inde n s I(^ a _ t ' B ~er c I t 'y' C I ovrs r ey a / I 'rc a.9/ IL. Indebadrnss and the. a, r _ender etl c I a par ?r. 0 2 m veers trJStee n bankrup c/ or to any smlar cer,cn order ary (eseral ,r slate Danko vq law or la/ for Ine eM1et al .,. v,rs he IndegtaCness stall be ppnsleereC Jnpeid for the pr.rnosa cf the a^fcrcement o[ Ims Gcarapn/ - ar$rtcr lusher namos and agrees not m assort cr cam at eny lime eny pecucuars b the amours guamcleeC ur. er Ihrs G .ary toe v ciarntl pt salt if coon r u ' te~claml wwler demand. `ecoupnenl ar emtlar ngnL wrePer ouch tarn ..er^and or ~~ may Ce es~.red by Ine ECrr f !, IIE .-.+~draniar ar COir. GUA ANTOR'S UNDERSTANDING WITH RESPECT TO WAIVERS. Guarantor Warrants aM agrees that =_ach of Ine nav,ms set fcM apore Is maC wrth Guarantor's !uu .nmvletlge of ns srgmGCance and consaquepces antl InaL anger Ine crcumstapces. me waivers are reaso:atle erd not c ntrary to puthc poise/ ur law It any such walv_>r s de;ermveU ro Da contrary w any app.icade law or public pphct. sJCn wev,er snaA w eRec lve poly Ia the extent permrVed bylaw ar pubic policy RICH OF SETOFF To Ine e .=_m perrnatetl by applicatle law. Lander resenas a right of setoff m a.l Guarantor's accounts with L?nder (wh?!ter checking. sacinys, or seine Diner accounq. This mdudes all acoounts Gaaramcr nclCS lordly with sp¢eane aloe antl al accpunu Guar nits may open m tie Ir.tur=_. However this does net include any IRA or Keegh accouris, or any trust accounts far wh¢h semff Would to prohl iteC by la'.v. Guarantor amnonzes Lander. to :rte extent permi::eC by applicable law to half these funds rf ;Hero s a CefaulL and Lender may poly toe Idnds In ;nose accounts to pay what GJarantor owes under Pe terms of Ibis Guaranty. SU9 RDINATION OF BORROWER'S DEBTS TO GUARANTOR. Guarantor agrees that the Incebtedness, wheher now ex15]my or I'erea'ter treat d. shad be supenpr to any da.m Ihat Guaranor may Haw have or hereafter acpmre against Borrower, whether or not 8crmwer beecmes inson arts GuarantCr neraby expressly subcrdicates any Bairn Guarantor may nave against Borrc'.ver upon any accpurt whatsoever to any ' m [hat Lender may nmv o eaF.er'nave against Borrower In the even) pLnsal.ency antl conseyuect Ilyu¢:auon of the assets of Borncv.er, iMOU h CdnkruptCL by an assignment far the b?Wells of creCdors, ty voluntary IiquiCal.cn, er ainennse, the assets of 9y`o•ner applcaCle to the p yment of :re claims of both Lender antl Guaranty shall be Dartl to LenCer antl snail Ce Ilrst appLeC by LenCer tp :ra InC?bteCness GJa• ntc Does Hereby assign IC Lender all claims vmrcn rt rt'ar nav9 or acgwre against 9orrower or agansl any asst^yne? cr Irus[99 rr auk uptcy of Borrower prevldoC neweve4 that soon assignment shall Ce etleCC Ve only for the purpose of assunny to LenCer full ca/meat m resat eCnOr of lFe ln^.ebl?dness. ( Lentler sc r?[oasts a9y roles Cr credit agreements now or h?reafL^r evid2ncing any debts pr CCllgdnpns Cf 6orrc vet to Guaranty sl'.all De m- xed wdM1 a leaentl ;Hat Ine same are sublet: ;o Inis Guararb/ and stall Ca ]e'mered Io LenCer Guarantor agrees. and Lender Is her?by autnorzeC In ;he name pf Guarantor. (spin time ro time Io M1le Orancng statemerts and co^Fnuabcn statements anC t execute documents antl ro take sucn Diner anions ds gender deems necessary cr apprepnate m perect. pr?serve an] enforce 1¢ ngCis undo this Guaranty MISC LLANEOUS PROVISIONS. The follow'.ng mrscenanecus provisions era a part of tins Guaranty mendmenls. Tivs Guaranty togetnar with eny Related Documents. constitutes Ine enure untlerstanCrng antl ayreament of the pamas as t the matters set forth rn this Guaranty. No alteraUOn of or amendment to tors Guaranty snail De effective unless go.en n Huang and __tl ty L^.e p . " ,-., a., s ~ .. -x ~argeJ ur tcu•.C t. e zll^.o'.un or _~ _r._. ar.l Disclosures. ARBITRATION IS FINAL AND DINGING CN T4E PARPIES AND 5'JDJECT TO CNLV VERY LIP,IRED REV1E iy B'! A wURT IN 4RBITRAT.ON THE PARTIES ARE IA/AI`JING THEIR RIGHT TO LITIGATE IN COURT INCLUCIPIG ThEIR RICH? TO A JURY TRIAL. DISCC`iERV IN ARDITRATICN IS bIORE LIMITED THAN DISCOVER'/ IN COURT ARBITRATGRB ARE NOT REWIRED TO INCLJCE FACTUAL ENDINGS OR LEGAL REASGNING tN TFEIR ANIARDE. SHE RIGHT TO APPEAL OR SEEK MODIFICA i ION GF ARDI i RATORS' RULINGS IS VERY LIMITED. A f 4^E'_ !`F P.P.°13AT^RS `.11CF!T IPICLL'DE 4N 4P.°ITR,ATOP.'P140 IS no Ins AS ^pnLIPTEC li nTH roc onNvlnlG .n.,nl Ic=Ry 4RDITRATION ;^lILL APPLY TO ALL CIGPUTES BET`,VEE`I THE PAR'IES. NOT :UST THOSE CONCERNING i..E AGRcE\IENT IF t0U HAVE OOE STIGNS ADGUT ARBITRATION. CONGULT YOUR ATTORNEY OR T'-E AMERICAN ARBITRATIGN AS GGCIATICN 1 1 Any c'am or controversy ("Dlsp~ie"1 belwe9p Er among the parties end Ihev employees, aSents. af(itiatas, and asslyrs. ndud.nS. but ' of Inncetl Ip. DrspJtes arcing out of or sea:oq to t^rs agr?emeni. iris arbitration prav'slon ("amaratlcn pause'I. or any relate] yre ems nr nstruments seising 'Hereto or deli~.ered ,n c necUOn Herewith I"Reldted Agreemenis't and nduding. but not rmeEd lo. a rspute based an or ansrg item an allayed tor,. shall at Ilienreauesl of any party be resorted hY' binbirg arbrUaaon In accorpa'Ine won Ine p FIrcable arhllrallon cotes of Ilia Amencan Arbllialion Assocamn (the "AdmlmsVator'') The provisions of IF,is arbnrauon cause snail ma any !erm.natien. amendment or exprra0cn of this agreement or Ralatad Agre m_rs The prbmsons pf this arbitration clause snail u FersaCe ang odor arbrUa!rpn agreecenl beC.veen cr among the paNes. r 1 TFe 3lb,lydl all prCGa EdIngS Slla'. bC cCnd UC:ed in 3 Clty mUt..dy dgr9ed by IH2 paY,iCS Aa59n: iJ_h 3n 3greana^:, drbllldl:dn V/III ba CnCUCt2d In DEnv?r l.'.rCrd CC ~! SJCn CInCr ^ydCE ds mdy b2 dPlErmm2y 'J'y the ACminlstrdlpr Tha Adm~nr>I!alpr and (F^ d!Cnr3tpn s'. Yell have try aJthorty to [Fe extent pratticabre to take eny action Ie regmrs the artdrahan Fmceeding Ie Ce cpmeletaC and 'Fe rb'Valcr(s/ a ard Issuetl wrtner I50 Cays of the fling of ;he Dispute mite the Aammishator Tna arbi:ra:orlsl steal have the au;hontx m a c' s or a-.y pa'y spat !a Is I o pl/ I;h e pe ices tmaased b/ the Ac n'S.: a[cr or .r a C .rotor..,' IJdlr3 Ine c lonspf ,un .act/ disrn s~ ng ary C sa to or te(_n^e w th p ejuClce Tha orb Ira:onsl sral' have ;rte autY t/ n taco" a Dscute r gar,:.rg n.e terms of IFis aSreement. Ihrs arc.iratmn [louse or Regaled Agreemems.:rduClry an> C,alm or comic:e•s/ regartllny IFz rbdraoll ty of any D5pJI2 All Ilrrltadons perioCS applicatle to ary D=spine pr Balance. whether by statute br ayeament. mall apGy Io arV rberapon prof?edmg He2unCar and Ilia artdratcgsl anal have tie actroniy Ie deode 'w hasher ary C~scute pr Oet?use s tarred Cv a mGa'JUns peoeb an C. li S_. to summarly ester an award tllsmles.ng any Dspute ar Deters' on That toss Tha Ooctnres of mmpL SC", ounlerclarr ras ~IJUC31a and collata`ar ?stocpel stall apply to any arbitration procee9ng hereendel so trot a party must slala as a a '.testa fe a2d'?:o p ooeoany a y claim a tool sy ~ nrch arses put of Ine tran,a..., r pr a ;Hat I'' lap; ' cf ..e C F'te. ire a I tar.sl ma/ r..be amt at 's ds e;le and al me repuesl of ary pan rnC - t s ~npe E[ anon q a tt I m ars.rg bu~ of •he sa a Ira sacdor. nvbl. ng aro'ter pa/ ;o ;bat ; ~a^LO` chat Jnd by an rbnrnpn clause with Londe: sucn. as torrotvers yr.aran:crs, car?bas, and owners of cpdate5r anC t21 cans. Ca:? nr aamlrla ar mI. Lple rtnra'ipn .aims _r con.rb •_ slams as a ..ass ac;on n ac_or_ance with RJIe Zit of Ire yderal auras s C..=. arcedve -' Tha araitrapns ~ snot, to sa"anted n xcoaara with me m'.es a( Ira Admmutra:or Iran para's mom:a•nea c'; n.-? acn~r. sna:cr > le orb 1. s I tease C II s I. arru I II e D t o It ee a w~ ..[ a b l s'.cn p a y the p- e ='la. c=] S' a P' ". la pf L .h e orb..d s. at east c e al h n s na- •' ? t e -C,C I. t rl? Sp'.,tt 2nd dl 231 ,n2 .-.1 xrCm mos. vd d ~ au'.C ng dl..rna/ 2 3rHitfa via Ala a va y l n. p'?`I311 ~' d '/ r ,I wale nC 'ees ~ ~:'nq alCme'rs tPa3 and Cas:3 dm~irattpn aC'nlm Srrd:.Vn fa25 and cCS[S. and 3rbltrdlCr:i it le°i eEdmiira:anal. 2'IY2r ' g Ina e '; of the a t. L : ,.,c e ' q o a pa t of ha arbu at a a'.' d. als y g a p al or .,~ Ira. e.,e es ^.ny but m uteri 'o ar a xarC aI nlunc.ve sal of L ecs..r.. seyuast .. aiac,^n e t - ,.IS', t ,a,., s s a ,I ;^r~- f a racer: er ... . . 11Cgem tp aa.r ca'a m ? In yco~ .r I'. eon ec atn fll gl C aCl:ai as sd O.g~p Ine a '.y.f In o t es rota eaF 'r fl to Ira SA 0J0. 009 free ads. c?w sal rt me pain'/na' a,em to a..a t al a race a rca ee in rte as as r mr/ Sp~, sl i y' e as of the abl al a'/ad ( soda ad s,pt mae In ha[Im ca oo.h amou[ ftr abl to aa_a I oC r2 CampJid C p( 12 :p[d 3 t C( do a b I d. pit 3'.Vd!] std nc Ude d CUf I> d'.Vdr-ud Cr dl.JrnE 5 I s dn„ cC 1 a b,r31 G 1 Cm n sisal on lees ono costs. and arblraler(sl fees. el No pro' s t his asp :ref on laasa. ror rte Exer^s f a y Ig ^s w shall r . 1 Ili '.yhl CI pa C' ' ~ I J c a' o c. II'to d e aaa n5 a` ,y °r I'c a Y /real br Gersoral Craper+'/ a.e a1 pr otne a I',' 121 alt~r ea es d t of rdd ;C rdpcss?sa'er and se L.H rgHls-, r (~1 nttan Irdn a court na/ g ( tlCnon Ir .~ e a-y stn/,Cry ar 1 r - pales COMMERCIAL GUARANTY Loan No: 7106483-6002 (CGntlnUed) Page 3 inclutling but not Ilmi:ed to njunclive relle(. 'oredasure. sequestration. aVacrmenC `epleam yarnshmenl or the apromlmen: pf a recevrer Such nghs Gan be e+ercisetl al an'; Vme talus cr alter inihalion pf an arbitration prcceeamy. except to the extent such acllcn s conlrar/ to the arttrarian award. T1re e+erese p! sucn rignV mall not c'JnsblWe a anon of the riynt to sLbnut arv DSpela l0 arb!ralien and an/ claim or ccrlreversy relaletl Ie the pxerese of such ngnG shall de a Dispute to be resno.pp antler the prueislons of :H¢ a•cdralion clause Any par'.% m ntlate drbifralicn Wilh the Admn'IStra[pr ( arty pa Ry d05i1ea arb.l[ale a DispJ'.e a aef'2tl dgdinyl i ~ n Gaily li _ complami. ccunterc.aw. crass clam or third-par^/ Camplau4 :he•eto or m an ans.ver or oihe~ repy tp an yssurn p~eatling su Gr cart/ must rake an apu'opnale mclrn `e rho tnai [ouM1 seauing is compel a aradcr mGiipn cost be liletl :eih I-.e ccurt ;twin ad fiats e( a ch nee of se plead Pig or arenemerx Inere:o. setting Forth sack Cispute It arCrtr.-.dun is c..mcnllaJ aLer cenmencemnn[ or i ~aticr. of a C6pute he pae;r peiammg an crcer cpmpelmg arb4`aaon stall vommence amdralmn anC pay the ACministralor's Illing lees and costs 'milhin a5 tla/~ of entry of sr:cn order Failure to d; so shall cpnsdW:e an aSr_=inerl to pr+ceah with Ilugatien and ::eve' of :he nght lp laroltrate In any arbrtrancn spnmenced by a consumer regaminy a consumer Dcp We Lender shall pa/ one had of Iho Adm:msratpfs (ilinG lee up'o 5[50 'V Np':alhc:anding ;hp apphwciln, pf am/ pinpr lam to ih s ag`eer^erl. the arbitration c:acse. c• Reiara'! Ayreemeprs b s among phe parties :he Federal Arbitration Act, 9 US.G. Section 1 et sea snarl aGPly to Iha cpnsP'-loon and rlerpretaucn clyih> arbpraiion :. o'p5C (- r p u pf s a. n_~aliUr. eaase aPC~.d Ge tie.elm rrvd !o be ar.E ltLr!'cdCle. al's _Ihar p~^_' _ -s G( Iris a r]I'.,,rt :a L'se snaJ •ernalr In full fe¢e and eRec:. 'Attorneys' Fees', Expenses. Guaraetpr agrees m pa; ucrn Cemand all of Lenders reasona Gle costs and e?perses. nuuang Lenpers anone/s' lees and Leptleh loyal enpensas. mcmreJ m ccnneemn wRn ;he enlv~'-emeot of tnls 3uararry. Lander ma/ 2 a pav a c „ ena else to Help erlorce this Guaran:r antl Guaeamor s L pay the reasonacb_ costs anJ expen>es of ouch er{Grcerneer psis anJ ax eases rcuco Larders altprreys foes and repel expenses '.vhelher o not Ihcra is a lay+ssii. mc`•..dnq aaprneyi ' _- and legal le.panses 'r banaropicv p ~ rGnys ,Indvdlrg adcns m o ify or vacas e~,y autmna r a c . a .,eau and ',opa:eJ ~posl uCgmeri collerricn sewices Guarantcr also snarl pay all court costs and such abddienal tees as may-he areneJ ur d:e uun Cap:'on Heatlings. ~aprlon hen Jlnys in finis Guaranty are for son remence Furposvv Grly ai ~ are net so to used :o m.e•ore'. or ccl rn the 'provisons v1 ;Fis Guamn^p Governing Law This Guaranq will be governed 'oy federal law applicable to Lentler and, tp the extent not preempted by federal law, the la'rvs of the Slate of Colorado withou[regard to its centlicts of law provisions. Thrs Guaranty has been accepted by Lender m the State of ten. Guarantor furher agrees :hat Gcaramor has read and fully un Jers:anes the terms c( this Guararq' Guarantor has rod the rm/ to Ga advised tr/ Guarantor's aupmey with respect lp Nis Guararry. the Guarenp/ full/ rerlects Guarantor's memicrs and perm e is not required to interpret the terms of this Guaranu/. Guarantor M1erety Ir C_mrllies and FoICS Lender harmless from all losses, tlomages. and costs I'nc'uding Lender's attorneys' tees) suffered or ncurretl by Lentler as a result of any breach oy Guarantor pl iha ies representations and agreements of [His paragraph. lntarpretabon In all cases 'where `here s Wore Nan one Borrower or Guararmr. roan all words used m Il+is Gpa2nD/ In Ina s.ny War snail Ibe Deemed fie have been used m the plural v+hero the context and construction so reGU Ve: ena where roars Ism a mar :ne Ecrrowar Iname] m this Guaranty ar when tPis Gaa`ant/ executed by more ;Han tiro Guarantcr 'he ':cords 'BOrrawer' one ' 3uaranicy' spec.'+e.y ..Fat mean all a tl a./ c ? or. c e of Fem. The words Gua a o 80 o e a d'Le. C r n~h de IFe ha s. tic esscra. as grs anC Pa x(erees pf sac of Bern It a co rt lintls .Fat ar./ prc+s'. pf .h s G' a a. y s t a is or .Hoare not be e'd eb that a d Ih a py rtse t w II nci mean [hat me rev of d s audranty w II not be veld er a ire w LereNre. a court .e'I e rte¢e .he res: of the pvisiona of this Guaranty eyen if a prev+son o[ Thrs Guararry ma/ to fauna to Ca inva. tl ar uner[orceabie If any one or mee of Barrov+er or Guarantor era cprpcrai,ons. Fartnersbips, iimlietl liabibry wmcanies, or iimilar entities it is net necessary for Lentle• to it GLire Hie the powers of Borrower pr Guarantor or of the oPoCers. dvec:crs, paMerS managers, a other agents acting cr purcortiry W act pn their behai(. antl dry mcebledness mace cr created In reLance u'por the professeb e.erese of sucn powe2 snail Ge guamnteeC ender this iGuaranty Notices. Any nciice regwred to Ce grven under this Gaaraniy snaC be yvaen m willing, antl. except for re'mcalion nppces b: Guarantcr. hall eel act a' h ac wally del' a etl, 1 e ac ally re arv ed o/ lelefacam la fu less oth sa q fired by la' y rvhep ] p 51 d w th r afonaYl/ a yn ed eve gl 1 coo er> o f V -ailed whe depps',ted n t e Ur led Stales a I as f st c a s, can f etl cr sic ed ma I u „_ a. o neon It be f 1.. a arl~ I j' ,r9 antl snarl be edeci ve opal de,ve / m Lancer as p o fide.. n Ina sect on of this bu any erttl_L OURA i ION OF GUARA iTV~" Am/ b8tly may cnapge Its address for notices antler this Guaranty by gimng formal wnlten notice to iha other ponies spacifymq that the purpose pf the npOce 's [o change the pangs address. Fpr nalice pu'rposas. Guarantcr agrees !o keep Lentler n(crmetl at all limes of Guaranlers current address Unless otFenvise provided or regwred by law iRFere 'S mere Than ena Guarantcr. any nopm grven oy lender ^.o am/ Gcarantcr is deemed to be notice grven m alt Guarantors. o Waiver by Lentler. Lentler snarl Wei be ]e¢med tp have 'waived any nyrAS finder this Guararry unless sucn 'mover s 3^er. m wnhng and maned by Lender No data'/ cr omissrcn cn the part of Lender m exercising dry ngnl shall operate as a maive• e( sucn ngM1t or any clner ignt w waiver by Lender of a pravisian of Ihis Guaranty snarl not prerydme or constitute a waiver of _ancer's ngri otnerxts_ to tlemanp 'Into compliance whh (Hai provision or any plner pmm5lon of :his Gaarariy tiro prior waiver by L9nder nor any course el dealing peew9en ender and Guaranies, shall consilwie a waiver of any of LendePS rights ar of any of Guaranlers obligations as to acy lulure :ransa¢ions. AFere„er Ire =otient of Lander is requited antler this Guaranty, Ne granting of such concert by Lsndenn any nsiaoce snail net constitute - '~r.senl ;O SUESaGI:eni :r6lanCGa '.l ner0 sLCh GCn62[1"s rap l.llPd and n a'. _as25 a:.cn :CnSe^' rl3`; gr3rian ~.r 'NnM1rieC Ir Ina eoienoucroGcn al Lender uccessors antl Assigns. Suolec: to any limdatiens stated In ihs Guannly en trans:er cf Gaaranurs mtere>r. tits G..arar;y seal' da inc nq ripen and Inure to the bereft c(;he panes. their saccesvrs antl ass.gcs DEFT ITION G. T. a foil ~vmg uapiae^'mor_s an] ms shall ha-a the folio' g aarnngs when used r Iris a a q V'n ass sp call} ~lai~! o ;Fe tic a / ail reie' ces e dollar a' o- s ..hall men a wnls m la'.. ul _o ey of the Jr led Srale> fit a ne•ca " rh a A~,e•r's ..Sad in ihE Singular sFd' ncILC2 ;he DUr3, anC ll'E p~ldl snail rnC Vd0 the nlrg..ldr as ;nP cpniax( mdy 'ay Jlr,a 'f/,]rda antl 12 r'1's rn: plhpr:,is2 .~ r .d n as Guararry snail Hate :na maarinys aiinbuted m sucn terns m ;he 'Jmbrm Gommarcal Cede orrower. The ord "Bcrrm+er means PLAZa lly a d n: ;.ode all ens a ] a'•=r sign s ~~'. rg ~ ~ N,,, a d al iPpr „cress., rd . sgns mrlor TPe ] " .,.ranter moans e'.=r, one ~ yn ~,~ s r -Wry I ] s pith cal I' a:ten STE _`I -,N=t`i a ._, a~_ pn signer, succesvrs~an] arigns Guaranty TPa .vcre 'Guararry' means cn ~ a:a^ty fmm G.. aranmr to '__n]er Indebtedness. The .voted "IrcaeopCr,ess' nears 3cnower§ irdem_dress to Larder as r _ e panarariy !exrveer .i•. ;ns 3v_i ~lp. gentler The aoro "Lender" nears ': ECTRA SANK GGL'JRACO, NdTIGNA'_ >SECGiA TtCN 's s:: wssnrs ors ass;r- Nola. 'na ] 'Not " m a s e L-i'e. of C l a R bu se art A n the a 'n. ,f S' D' 0 e ~. 0 6~ rer and ~_rder da d G e. er lo, 20C8 t gar -ih a.l e'e ~z moors of rrc.?dc i pf cal ring, _r c i ,ns of _re352501 a Csa6.:_ ~ or ihs'~tole' Gr ..r9o'. aye rev Belated Documents. Tne r ends 'ReiareC Ccc_menid' mean aJ promes., r+ notes gredit a- = is lean ayree'lems _ ., - Sreemerts. gun acues s .only aS=- ant;. mayagns. deeds of vusL secr:y deeds w~:aterel n - _s ena all c'.ner m;tr ~n.e~~-is Greet^:r's a4 dco anal^,; 'n Werner rc:v s rer^a:ter exlsiny, exec ved .r cm•.nectior w'..tb 9•e '.ntle G'e-mess EAC UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS GUARANTY AND AGREES TO ITS TER. S. IN ADDITION. EACH GUARANTOR UN pERSTANDS THAT THIS GUARANTY IS -c FFECTIVE UPON GUARANTOR'S EXECUTION ANO DELI ERY GF THIS GUARANTY TO LENDER ANp THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE M1IANNER SET FORTH IN T E SECTION TITLED "DURATION OF GUARANTY" NO FORMAL ACCEPT 4NCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY IS DATED OEC EMBER 2], 2000. GUA~ANTOR'. II 1r ~j E HANSEN ~-~ U r? V ~ V DISBURSEMENT REQUEST AND AUTHORIZATION LOAN TYPE- ~ n is a "ar ail? Rale ?.cndlscfosacle Lsan to a Limnad LabJItT Compen'; for SZSOD Ci; Tha refer=_n. e 'a:= ~_ ~ _ a ~ine Ra =, L ides 'Pnme R-.le" ^eans .Fe ovate ~ .., ,reared per anr~_m zs adlus, d f•om ~r^e es ac ] o, Le~ its "r'.q ra'e Tne Pnme vale ~s d raer=r. e race :nal pan=s as the ears ~cmr Llal e`ICCr..c ~ f n esl dr= >~u'ala; 'c re eren_a w ~.; a Pr.rre P.me The Pmre Pale Is om~ cite o` Leaders .ante races ~scme cf :!h cF. eNerereferer<= ^aas ma, v 'e'=r a/1 aF:ae~ Gins and mt Ga the Ie...est ~r Gasl a' Le 1dF1 s re(e~=~ce raf s u .Iher tie cf rter=sI. c_~ r_ t ~ :. ,~]"SI a ~.. ,o .Ire marg.n of a D00°~ resumng n an mltial rate of 2250 PRIMARY PURPOSE OF LOAN. The prvnary purpose of Nis Ican is cur rl Personal, FemiP~, or Household Pumoses or Personal Investment. {{~, ~' dusmess pnduding Real Estate Investmentl. SPEµIFIG PU 0.PO6E. The soeci is purpcse of rF is Ican is 3TANOEV LETTER GF CPCD T 1N FA,OR 0= PIT'far! LOUN?'I COL:RPOC pl6q~IIUR6EMENT INSi RUCTIONS eorrwler Lrderslanda Ina[ no loan prcceens enll to d'stur,3c wrLi a I or Lai ocrs cona.dcns bun:vmg 'he 10311 Ilnava been 531IS(IEd. ~IBa50 d~5'OU152 !h0 ILdn prOCa2~5 O( $],$Uppp d5 fc.IIOWS. ~I Other pisbursemen~s. $i,ECD 00 $'.500 00 Am.acnt Avalable to Fantl Leiter of Credit Note Principal' 5]500.00 CHA~3GES PAID IN CASH. Borrower nas pa~tl or vnll pa~.n cash as agread me tolloanng znaryes Prepaid Finance Charges Paitl in Cash: Sr DJ.nn 51 CO 00 Loan Ong nation Fee l6 i Total Charges Paid In Cash: S'CC Cu FINAA~NCIAL CONCITION. HV SIGNING THIS AUTHORIZATION, BORROW E0. REPRE6ENT5 AND WARRANTS TO LENCER THAT THE INFORMATION PROVIp EO ABOVE IS TRUE AND CORRECT AND THAT THERE HAS HE'cN NO MATERIAL ADVERSE CHANGE IN BORROWER'S FIN 4CIAL CONDITION AS DISCLOSED IN BORROWER'S MOST RECENT FINANCIAL STATEMENT TO LENDER. THIS AUTHORIZATION IS OAT O DECEMBER 2],2000. BORROWER. PLA2A 11 ], LLC "~ ,f`~~-"~/- / JE~~`LfT NSEN, Manager of PLAZA 11 ; LCC a "~ ,J~ ,, J I Borrower PLAZA nT, LLC Lender vecTaA BANH cOLOanoo NATIONAL J10 ASPEN AIRPORT BUSINESS CENTER ASSOCIATION ASPEN, CO 61611 ASPEN BRANCH 63A EAST HYMAN ASPEN, CO 81612 I ~ / N i0 ~m~A~ W_N•-z `q ,3.6 3' A>'y o : > T >d-A~zs to%~ ao: n 3 °a ~ ! / a , F o z of„a a, dad ' 3 s a 1 I ~ s~ '~aa3 o _ a~n ' a~ ap3°^e ' ~F _ n i I d a3 Aa q ~ 3 8 6 ^ ~'~ $' x I 3a N e$ N " - - _ °9 d ~$x o _ ~ R a - ~'~ - j A.. z - p a - 3n~adn 3 3 n 3 _ _a _ 0 03 2' l c°a tl8' ~n v - _ ~ ,~ m i a n U c`% b~ z ~~='_ firs amended lipman-magnifico holdings Ilc m w R O ~ so 1041 hazard review site plan \\ O ~ o n ~?. a 204 magnifico road I lot 19 pitkin green subtlivislon I pi[kin county, Colorado n - ', parcel itl #2]35-014-03-016 December 5, ?008 coNSreucriox Pitkin County Community Development 130 S. Galena Aspen, CO 8161 I RE: 204 Magnifico Development Envelope '1'o Whom It May Concern: We are requesting an amendment to the proposed building envelope along the south side of the project. The extension is reyuested to regrade the area back to a natural state post construction. In January 2005 we staked the development envelope and discovered that a shoring road had been cut in by the previous home owner. This road will be filled in to match the natural grade below the residence. Sincerely, ~, t3ryce Olson HANSEN CONSTRUCTION, INC. cc: Steve Hansen (HCI) Todd Kennedy (CCY) David Lipman ~0'-1~01 ~~ Z3 THE LIPMAN LAW FIRM DAVID M. LIPMAN REBECCA SHULL VINOCUR ATIURNEYS AT LAW Su1rE 44 S91 S PONCE DE LEON EOULEVARD CORAL GABLES, FLORIDA 3314G December 5, 2008 Pitkin County 130 S. Galena Aspen, CO 81611 Re: Property Located at 204 Ma¢nifico Drive To Whom It May Concern: TELEPHONE: 3OS-662-2GOO FACSIMILE: 305-667-3361 Tou FREC: 1-500-226-2620 I, David M. Lipman, hereby give Bryce Olson with Hansen Construction, Inc. permission to process a minor amendment to the development envelope from the previously approved 1041 Hazard Review development envelope pursuant to Administrative Determination No. 55-2005 at 204 Magnilico, Aspen CO 81611. Should you require any additional information or need to contact me please feel free to do so at 800-226-2620. Sincerely, David M. Lip DML/br ~G;)~~~ WARRANTY DEED THIS DEED, made December L3, 2004, Between DAVID LIPMAN and BARBARA LIPMAN of the County of ,State of MN, GRANTOR, AND LIPMAN-MAGNIFICO HOLDINGS, L.L.C., A FLORIDA LIMITED LIABILITY COMPANY, GRANTEE whose legal address is :5901 S.W. 74TH ST., SUITE 304, MIAMI, FL, 33143 of the County of Miami-Dade ,State of FL W ITNESSETH, That for and in consideration of the sum of ten dollars and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the grantor has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey and confirm unto the grantee, its heirs and assigns forever, all the real property together with improvements, if any, situate and lying and being in the County of PITKIN, State of COLORADO, described as follows: BLOOCK 2, PITKIN GREEN SUBDIVISION II III II I I II II I IIIII III II 505584 IIII III III Fa9e 1 of 3 12/30/2004 12 391 SILVIA Dl1V75 PITKIN GOUNTV CO R 16.00 D 0.00 TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the grantor either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the grantee, its heirs and assigns forever. And the Grantor, for themselves, their heirs and assigns, does covenant, grant, bargain, and agree to and with the Grantee, its heirs and assigns, that at the time of the ensealing and delivery of these presents, that it is well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature soever, except those matters as set forth on Exhibit "A" attached hereto and incorporated herein by reference. The grantor shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the grantee, its heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof The singular number shall include the plural, the plural the singular, and the use of gender shall be applicable to all genders. IN W ITNESS W HEREOF the grantor has executed this deed. SIGNATURES ON PAGE 2 RETURN TO' Becker8 Poliakoff, P. A. 121 Alhambra Plaza, 10th Floor Coral Gables, FI 33134 Attn: Richard J Alan Cohan ~G~lf.;03 SIGNATURE PAGE TO WARRANTY DEED PAGE 2 STATE OF Y ) (~ ss COUNTY OF ~'J~ ) The foregoing instrument was acknowledged before me this ~I~' by DAVID LIPMAN AND BARBARA ANN LIPMAN. WITNESS my hand and official seal my commission expires: PCT18591L ~~.~~~ ~ BARBAR IPMia~~ r ~ .. Lu ? ('~~C'TZtccU,E'~~~ `"~`~~ "ua AN(iELINE FNtdLDG '_ n ~~ s MY COMMISSION b DD 229099 »,'~t,AhA;^" EXPIRES. ,hugust 27, 200? - i3miktl'pru 5nt!gel notary $errvces IIIIIIIgIIIIIIIIIIIIIIIINIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII005Q 05800iz:ael ~(~~,,.;~~A EXHIBIT "A" 1. Taxes for the year 2004 not yet due or payable. 2. Right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted and right of way for ditches or canals constructed by the authority of the United States as reserved in United States Patent recorded in Book 55 at Page 24 3. Terms, conditions, provisions, obligations and all matters as set forth in the Declaration of Trust far the Benefit of the Property Owners in the Pitkin Green Subdivision, recorded in Book 182 at Page 220 and in instruments recorded in Book 183 at Page 427, Book 184 at Page 367, Book 239 at Page 116, Book 425 at Page 685, Book 425 at Page 745, Book 450 at Page 790, Agreement recorded in Book 489 at Page 337 and Amendment thereto recorded July 15, 2002 as Reception No. 469843._ 4. Terms, conditions, provisions and obligations of Restrictions as contained in instruments recorded in Book 184 at Page 289 and Amendment in Book 675 at Page 408._ 5. Easements, rights of way and all matters as disclosed on Pla[ of subject property recorded in Plat Book Ditch Book 2A at Page 244._ 6. Easement for underground power and telephone as shown on Plat recorded in Ditch Book 2A at Page 249.,_ 7. Terms, conditions, provisions and obligations as set forth in Revocable License Agreement recorded November 7, 2001 as Reception No. 460558. 8. Terms, conditions, provisions and obligations as set forth in the Articles of Incorporation for Pitkin Green recorded July 15, 2002 as Reception No. 469841. 9. Terms, conditions, provisions, obligations and all matters as set forth in the ey-Laws of Pitkin Green recorded July 15, 2002 as Reception No. 469842. 505564 illlilillllllllllllllllillllllllillllllillllllillilllil00Z930o 000012,391 StLv r ~ I ~:)~~CS Impro vem en t Survey Lot 19, Block 2 Pitkin ,Green Subdivision . Pi tkin Co un tp, Golora do ~~'.1~~6 C1GPH[C. SCALY (w~) era-s rt mow.. wrr earrs.~ w~w.Rw~ 'e°~ww ^"'+~......~:.~,.r. xrxau€wel 60PWN~ Mflq ~x . ~ ~ ; , ~~. ,, ; :~ ;. .• . ~ s~~ ~;~i..~ '+. '~ it \` . ~` ~~`. Lot 19 Block 2 Pitkin Green Pitkin County, ~ Colorado .~ ~ ~a ~ \ ` -- .' • ..` • ~• S •~ . ~ j y. ``"t ~`, i ~. ~ ~t' t% ` 7. ~; • /. t l1~ ~ ~ ~ \`, IeHed y . -.W Ir s _mam • -y.[a...u. • - R..,.w ^ -try +~' N 6.c - n trdb.fa lead sommr u daein.i ~ rsi rm - 11b m^R b Le nwvlt /. elMt +.POSd M .e, r roe seal a.•o s~dm(b, m.b+~a ..I /~)r..oeb w u. b~W dWNlw•~ tlfr.s.yb• NaK dW .rt arFrc[tl b J.~o~lQK Iti.aW a~ mss. .est.Q AL sr4 M W h9dEy .s e3hbM trm . auri, `AW is Sq,! tIN u Y !'f7 aor It.f hpe Yf u~/Yeylh. .W. t~~ er ~rI O~I_C 1WIII+~ u. f~ /W Cr{W.WJr, Xll4 ~, " dr.b[±.n eebUrV L . Muff N S?1i110'I r W b. wt..s drd a .a ~w>.r w ..we rd sy to saw .e a .raer ML[ t; - 6nlly A40t ,. r ~ I.aGd h.R lr Ye fy of . sw. ~.~om}flry1dY~/yN Li All .F M riwfJ.e! smr .f bt tJ .fN...K {~.baD.~Y Pmt .~enb tr e.ba., - J!4 does mt rsprwa! . tlUe xre) y this av~ee b I~trmfv. neLera5Qr av a dme.q esvmmb oe Wv mmsia..... w s,.s.na Ja mwmewa /M.~N~ e...i.rt8rp .remrb es Nd.r ramdoam y swyd • bu lmY 4Fr hqm lfa./ fbt d f/1ffi fnm AWdMalm .b~~p+rssm! smrl !j Aryr SLrn) ~o•.r• de[M . - DYe L so.r rd /m ovr.eHe on{.ln lv,rela tblarn rd {mpx.osrS my ao! M deplstN Ae.gari grtlay{s _',~ y' -. _ :~ ,. ~, ~..-s,~W 1 Improvement °^ *' "~' ~. ,,.was Survey ,~,,,,~ , ~ 1 y~y.~r ~r+.:~e ao~wa4....vsr..d.W r Y ~...~~r wr rY.d Y..Y ~. ror iR er ~.W r.r rr~arwr'R w r«a rr yYS•.t ur ~NMa wi°ri. ~b~p:.''"'r`. a` w3r.`lr°~f`...u a~~.. ~~U~~C7 45B !00 C~ MW2.14.2005 3:40PM CCY gRCHITECTS M0.606 . ill~~~~l~~l ~I~IIII~~III I11I`I I s91~e/G2a~04 0l:~7• alLvip DPV[t PITKIN coDNrr Co IIRI ~! e0 D 2aa,5D P WARRANTY DEED THIS DEED, made June 15, 2004, Between HARVEY B. MACKAY and CAROL ANN MACKAY of the County of _ Stara of MN, GRANTOR, ANP DAVID I-IPMAN and BARBARA LIPMAN, GRANTEE whose legal address Is 59019.W, 74TH ST., SUITE 304, MIAMI, FLORIDA 33143-5188, of the county of ,State of FLORIDA P.3i7 d~,~8~' WITNESSETH, Thatforand in consldarotton otthe sum of ten dollars and other good and valuable Donaideration, the receipt and suffldency of which Is hereby acknowledged, the gronbr has grantQd, bargained, sold and conveyed, and by these presents does grant, bargaln, sell and convey and conflnn unto the grantee, his heirs end assigns forever, ak the real property togetherwith improvements, if any, situate and lying end baln9 In the County of PITKIN, state otCOlORADO, described es follows: LOT 19, t3LOGK 2, PITKIN GREEN SUBDIVISIpN. TOGETHER with all and singular the heredkements and appurtenances thereto Belonging, or in anywise appertakiing, and the reversion end reverolons, remainders, rants, issues and profifs thereof, and all the estate, right, title, interest, claim and demand whatspever of the grantor akher In law or equity, of, in and to the above bargained premises, with the heredlfaments and appurtenances. TO NAVE AND TO HOLD the Bald premises above bergakted aqd described, with the appurtenances, unto the grantee, his heirs and assigns forever. And the Cxantor, for himself, his hells and assigns, does covenant, Brent, bargaln, end agree to and with the Orontes, his hake end assigns, that at the ttme of the enseakng and dallvery~of these presents, ha Is well seized of the premises above conveyed, has good, sure, perfect, absolute and indetaasibla estate of inharitence, fn law, in fao simple, and has good right, fuN power and lawful authority to grant, bargain, seN and convey the sartia In manner and form as aforesaid, and that the same ere free and clear from all former and othaf grants, bargatna, sales, keno, taxes, esaesamenis, encumbronoes and restrictions of whatever kind or natufa soever, except those matters as set forth on Exhibk "A"attached hereto and incorporated herein by refsregga, The grantor shell and wIN WARRANT AND FOREVER DEFEND the atwva bargained premises to the quiet apd peaceable poseassion of the grantee, his babe and asafens, against all end every person or persona lawfully claiming the whole or any part thereof. The singular number shall Include the plural, the plural the singular, and the use of gender shall be applicable b aN genders, iRA~NS8ER DECLRRRIIDN RECEIVED 96/15/2194 ~CJf~C~ MFlR:'14.20 II~~"f~~ __~~~~'~~~I~~ 1 • tV0.606 P.4/7 !SJ~jA k ~I~~ 49868 . Pap. 2 of a ' R lags g/19/20a1 03~3~P a 20a,Sg~ • WARRANTY DEED - PAGE 2 C IN WITNESS WHEREOF BY: STATE OF COLORADO COUNTY OF PITKIN grantor has executed this dear' ss The foregoing Instrument waa acknowledged before ma this _~day of JUNE, by HARVEY B. MACKAY and CAROL ANN MACKAY BY LANCE COTE THEIR WITNESS my hand and ofAcial seal my commisaipn expires: PCT18591L2 Joy 8. HlganyNotay PubAo MY Canmhabn a M77~f ' b`kC~ of Cdaraio IN FACT ~osRnr ~.o~r ~~~f~C9 t'IAR.'i4.2005 3~40PM CCY RRCHITECTS N0.606 P.S/7 M • • EXHIBIT °A" i 1. Taxes for the year 2004 not yet dus or payable. ' 2. Right of the proprietor of a vein or lode to extract and ramous his ore therefrom, should the same ba found to penetrate or intersect the premises hereby grented and right of way for dkchea or canals constructed by the authority of the UnRed States as reserved in United States Patent recorded in Book 66 at Page 24. 3. Terms, nondittohs, provlsions, obllgatlons and all matters as set forth in the Dederatlon of Trust for the Benefit of the Property Owners fn the Pitkln Omen slrbdtvlsion, recorded in Book t B2 at Page 22o and in instruments recorded in Book 183 at Page 427, Book 184 at Page 367, BooK 239 at Page 118, Book 426 at Pege 886, Book 4z8 at Page 745, Bgok 460 at Page 780, Agreement recorded In Book 480 at Pegs 937 and Amendment thereto recorded July 15, 2D02 as Receptbtt No, 469843. ' 4. Terms, conditions, provistons and obMgetlons of Reslrlctiona as contained In instruments rewrded In Book 184 at Pegs 288 end Amendment to Book 873 et Page 4D6. 5. Easements, rights of way and ell matters as dlsgosed on Plat of sub(act property recorded in Plat Book Ditch Book 2A at Page 244. B. Easement for undergroynd polder end telephone as shown on Plat recorded in Ditch Book 2A at Page 249. 7, Terms, conditions, provisions and obNgations as set forth (n Revocable L(cense Agreement recorded November 7, 2001 as Reception No, 48D666. 8. Tsrma, conditions, provisions end obligations as set forth in the Articles of Ihcotporatlon for Phk(n Green recorded July 15, 20D2 as RocapUon No. 469841. 9. A Terms, conditions, provlsions, obOgatlons and elf matters ae set forth (n the B y~Laws of Pltkin Oreen rewrded July 16, x002 as Reception No. 468842. I~IIII~IINIIII~IHIllu 111~llll ~ l IIII es86$; g3:a >a ro os ~wa . D zea.ss ~ m ~ ~ o ~ o ~{ a ~ i . s a~ ~ a MPR.+14.2005 3:41PM CCY RRCHITECTSIII~.k ,.'0:606. }P.7/l P1fPKIlV CoTJNTY TITLE TNC. • 6018. HOP1GiTI8 AVENUE, 3~ FLOOR • i~3PEN, COLORAD011611 30,3.925-1766/303-925.6527 FAX ,ADJA.CIINT OV4NI4R' S"fATEMENT pitldn County Title, Ina, a drily Ucensed Title Insuteuco Agea1 In dto Smte of Cotomdo,>}eroby cerd11e1 the following Litt le a e0rrenC list ofa~ecentprogortyowner'e es obtalncdfrom the moct curtentPidda County Assessors Tpxttolls, NAM@S AND ADDRESSES ' Bit1EF L$aAL DF~SCRIP7TON SU1I,ITCTRROPEBTYs LOT 19,BI.OCK1, PiT1CIN t;it1EEN ADJACENTP$OPEkTY OWN81L'9 QND ADDR~S~ GLOR'[A L7; SCAARLIIV 10 RD GE WATSIL DRiV E AYT• AA CORAL GABL$S, FL 33133.6962 ALEICXCADI?MA.N P.O. BOX 12395 ASPEN CO 81612 ME8L8 ~ DIJLI@N P.O. ROX 3556 AsPErt co a16Ya T4 BRENT d: CONSTANCB~ K WA'LDRON Tao 1t. aYMnN AVFIVIIE ASp$1`T, CO 81611 C&L NOR~~ 17393a~106002 273$1a106001 273501403019 a73s01ao3017 273501403013 ~Lr,'~? 1 CD &R 7;OLDlNGS, INC, • 617 W. MA1Pi STREET ASPFIV CO 816X1 i4a~/ 4eaaehY wee, sa ie, alod~ t ram ~ ram ~r mn, aerban ~pinan era +elr Geentuelh Deralaamrit Wndx lloero sere wriw See een hr eM nrienae rN+pprove/ o~e~a oMecmr d ram ta.m ati 10a~ sub3xt m eMe Oetlem ea_ aapeon Na n kvdopmrnl Oxtan nne Aalw Slie Mn AN aen eaaead M iia dtlx Cksk ene Aeeordr d ratio tou~ty, edt~ey d ~ 100, M nWpvrAr+el MiaN rm e:h[ tliN MyR Mfad aN mpe,nnrna, ena me use mE acupmcY Naed. >~o~ an~ly><Ist IdgenA 14% and kse ® 15% • M% . 30%' 44% ^ IS% and grNbu \\ +na,wr wnm OevekVawN Enrtleee 1a a aiysase edsane teMams MameN •eNn geeowd 6u+dNq aagrln ~ • • ~ RWertr Line Easement ~ ~ ~ auildnp Enralope ((~~ ~ Uug ~ H V ~ \~\~\~/ '\~ lspen 1 T~T ,V SJ. D /~~ V y/ 0 ~/~ u V 1 ri C 0 3' /~ ~ V W Y .A~, ,Q W C ~ L °o N ~ ~m -~ o L ~ T N p N "m TT ~ M [T # 'V ^ C J Y 7 Tl Qi L .a N O O 6 rl a 8 o c rn a ~' °o N ~~ daN I Iowa 0a119120DS I orlglnal 12104J300A I amddcd i o s io ® norN PITKIN COUNTY PRE-APPLICATION CONFERENCE SUMMARY PROJECT: Amend a previously approved development envelope to include an area disturbed during construction;of anew residence. LOCATION: 204 MagnifiCO Rd, Lot 19, Block 2, Pitkin Green Subdivision PID #: 2735-014-03-016 OWNERS: David and Barbara Lipman REPRESENTATIVE: Valerie Alexander PHONE and EMAIL: 970.429.7499 valerieCa~blueareenasoen.com DATE: September 26, 2008 PLANNER: Cari Anne Holcomb 970.920.5092 Type of Application: Minor to a Development Permit Description of Project/Development: The Applicant is requesting approval for a Minor Amendment to a Development Permit to amend a previously approved 1041 Hazard Review development envelope pursuant to Administrative Determination No. 55-2005. The area to be included in the development envelope was disturbed during construction of the residence. Land Use Code Sections to be addressed in letter of request laoolicationl• Sec. 2-20-150(b): Minor Amendment to a Development Permit; Sec. 7-20-20: Steep and Potentially Unstable Slopes; Staff will refer the application to the following agencies: Pitkin Green HOA Review by: Community Development Director Public Hearing: NO. FEES: $773 (Make check payable to "Pitkin County Treasurer') Planning Office flat fee: $748 (non-refundable; based on 3 hours of staff time. If staff review time exceeds 3.2 hours, the Applicant will be charged for additional time above 3 hours at a rate of $249/hour). Web Technology Fee: $25 J To apply, submit 2 conies of the following information, unless noted otherwise: 1. A summary letter explaining the request, providing background on prior approvals and permits, and addressing compliance with the Code sections listed above; 2. 4" by 36" and 11" x 17" activity envelope plan as designated in Section 2.1.1 ofthe-Pitkin County and Use Application Manual; revious Land Use Approvals (if applicable); 4. Proof of ownership of subject property as designated in Section 1.3 of the Pitkin County Land Use Application Manual; 5. Consent from owner(s) to process application and authorizing the representative (1 copy); 6. Parcel description, including legal description and 8-1/2" x 11"vicinity map locating the subject property / within Pitkin County; 1 7. Total fee for review of the application; 8. Signed fee agreement (1 copy); ~ 9. Copies of this pre-app form. PITKIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT AGREEMENT FOR PAYMENT OF LAND USE APPLICATION FEES PITKIN COUNTY (hereinafter "COUNTY") and ~~c.~SrJ/~ (hereinafter "APPLICANT") AGREE AS FOLLOWS: 1. APPLICAN has sy+bmitted to COUNTY an application for albs{ ~~gtnt~R1~ p~.n i C O ~ (~j (( (hereinafter, the "PROJECT"). 2. APPLICANT understands and agrees that Pitkin County Ordinance No. 018-2004 establishes a fee structure for land use applications and the payment of all processing fees is a condition precedent to a determination of application completeness. The fee structure is based on the COUNTY'S policy that development shall pay, in full, the cost of development review in the COUNTY. Fees have been set to be consistent and fair to the public and to reflect the expense incurred in providing such services to the public. 3. APPLICANT and COUNTY agree that because of the size, nature or scope of the proposed PROJECT, it may not be possible at the time of application to ascertain the full extent of the costs involved in processing the application. 4. APPLICANT and COUNTY agree that fees charged for the processing of land use applications shall accumulate if an application includes more than one type of land use review. 5. COUNTY and APPLICANT further agree that it is impracticable for COUNTY staff to complete processing or present sufficient information to the Planning Commission and/or Board of County Commissioners to enable the Planning Commission and/or Board of County Commissioners to make legally required findings for project approval, unless current billings are paid in full prior to decision. ~.~3~ 6. Therefore, APPLICANT agrees that in consideration of the COUNTY'S waiver of its right to collect full fee rior to a determination of application completeness, APPLICANT shall pay a base fee in the amount of $ which is based on _ hours of staff time, and if actual time spent by staff to process the application exceeds the average number of hours by more than 20%, then the COUNTY will bill the APPLICANT quarterly for the additional time spent. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension of processing. PITKIN COUNTY Cindy Houben Community Development Director ("A PLICANT") By: ~C ~1 ~2 O ~ Cw~ Print Name a d Title (if applicable) Date: ( O Mailin Ad ress. (~,~ ,~ ~ EJ ., V , 2 Bryce Olson From: Bryce Olson Sent: Friday, January 13, 2006 3:18 PM To: joannas@co. pitkin. co. us Cc: Todd Kennedy (TKennedy@ccyarchitects.com); Valerie Alexander; Brian Robertson Subject: 1041 Line of Disturbance Staking, 1041_Lipman_site plan Prior Disturbance Attachments: 1041 Line of Disturbance Staking.JPG; 1041_Lipman_site plan Prior Disturbance.pdf Joanna, since my copy of the 1041 is colored it will not fax well so I higlighted the areas on this PDF. I may just be reading this wrong. I was under the impression that we can't disturb past the development line, but there is new grading and landscaping proposed past this line around the whole house expect the down hill side. So maybe I just can't disturb that side of the building. Perhaps you could clarify. The second area is the sewer line. The cleanout is in the easement and we need to dig past this line to get over to this area. It is currently all dirt and was disturbed long ago when someone built a road around the old house to try and save it from falling down the hill. This may be a non issue if I'm reading the lines wrong. This picture was taken last month when we staked the development line so we could install a silt fence. What you can see is our stakes on top of a bunch of sand and base material the old house had behind it. It goes for about 10' or more past the development line anthem slumps off into the scrub oa We woul o~vios~ like to clean up that sand and bring it to a e. some ust wanted you to be aware Thank you, Bryce Olson Hansen Construction, Inc. P.0. Box 10493 Aspen, CO 81612 310 AABC Aspen, CO 81611 (970)-920-1558 Office (970)-920-3038 Fax 1041 Line of Disturbance Staking 1041_Lipman_site plan Prior Disturbance Note: To protect against computer viruses, e-mail programs may prevent sending or receiving certain types of file attachments. Check your e-mail security settings to determine how attachments are handled. .~~{1;~~ \~ ` I I '3bsL ~~ , i I ' 11.00 l \i l A ` + ~\ County Eno nanng' TheIOusU'a[ed'revis on n th ' . - YJ and ores e doue ew 9retlifq, walk ane ~ ~ s~ +, • +~ w - pav n9 for whiU we are zeelmy Your apProvai This approval will pe 9rante! ~ i . v - Mrough Me Accgs DrHewaY Develcpmein PennR ~.~ ~ 4 ~ \ ~ \_ ~ ~ I 6 \ ~ \ - \ \dL , . \ ~ ~ ,/ \ \ . \\ \ I l /\ ~ \ -0- ~ ~ \ ' \ N ~_ ~ A \ \ ~~\ \ . \ \ R \ TW 1.00 \ `\ \ ~ \ ~.. /r \ .. \ \, j ~ ~ ~ \ \ \ VI proppsgl walls are less ilwn 6 few in height. me propoatl tlnveways 16 fa[ m wiom, gg fat m IagM (to the und) and will be snowmeitetl. 'er tFe PcceS antl EarMmovinq petm@ appli^,a6on 4xt, Fre MaSnal oval ¢ nvI rciuira'I for tlrrvewaYZ lea than y5G fe6. the UhliN Na0h~ion Center N Coloratlo will be mnta¢cl Priorto Auction. ievegetation of tlkwrbed areas w111 ocvm wM native and/or heby ses. Soil53bil®tion technippa wiq be pertormetl in acmrdana with 9m-tmhniral report (Exhip2 A, Grologic SiR Aassmerit foune in tfie Uee, approved IOal HazdN Raiew tloo~menL) Te recepient zRe for etmva[etl soils k - _.. ., 8.. v - n ~ -t \\\ :: / Jf A d ~~ , .. s o. .r \ / ~ ~ ~ ~~ ~ + TC 03 22- ' % / ~ `~ vL ~ ti ~~ \~; `~ ~ I~"~ ~ BS 00.88 _ BC 02 56 -, ~ ..'.. 01.90 ~- + ~ ~ ~~ ~ \ ~ 0181+ / ~. / `\ \~ °\Y S ' Q3j6 72" RISERS, ~ o / I ~ \ ~..%! \ /"+'8201. \, T , \ \ , ~ \ `j \ ~ ~ \c-'~ ~~ UPPER Ji/`*Z\~ ~ ~ f ~ \ / \ \ c rFE azoa oo ~/~ ~ ~ ~ r' ` / ~~ \\\ i' ,~ ~\ LOWER ~1. -'~ ~~ 91:81+ ~~ ii ~,, ~ \ ~ ` ~% ~ O \~ ~' \ \ \ \ ~ ~. \ ~ \ ~~ ~ u \ \ \\ \ `\ ~ \\ \\ ~C \ ~\ \ \ \ \. \. ~ \ ~\ \\ \\. ~~,.\ "S \ \ \\ ~~'' \ \: \ ~~ \~ \ ', / ~\ ~Ig ~\ \ J\ .02.0\i ~ / /' .i ~~ / i /~ ~; \ / K ~ / \ ;;' / / /. i V. 2, / ~; ~\ \ \ "~,`~\ ~ / \\ \\ 9 0 a a s ~ _ Y L [6 i //3t~ ~t~y C v O UI Cn ~ w vv U a ~ y ~~ Q c 9radin9 Plan date I rove 06/232005 accea permd ac~~ 0 4 0 ® nmM 0 e 0 ° z z ~ u i o i ~ ~ a a F 3 ~ a ¢ ~ ,a i > o i I e u I ° ~ w w AVERAGE SLOPE = 6.4% I ~ AVERAGE SLOPE = 14.0% ~ ~ - ~ I 1 I ~ AVERAGE SLOPE = 73% w ~ I Kl' ~ ~ ~ i I i ; ~ 1036' 19:11` I i i ~ ~ ~ 09 X46' I ~ I i ~ I i 08 ~25 ~ I ~ 06 ~7T ~ ~ ~ I j ~ I I ~ i i ~ I - 06~2T I j I A A ~ y DRNEWAY ACCESS PROFILE A-A ~~ L~L~ SCALE: 1/4' = 1'-0' 9 m m m P a 0 i s - s 1J Q~ m Q o` T c c n L - '/~ o 9 ~/^'' N VU/ m U (6 _ C (B Q tlrivewaY PFaC+Ie tlaFe 1 Issue 96/23/2005 a2eR permR ~ ~L`f fL)' ~ 'l le J L' ._ .. ~ s 0~ $ 6 !1 a m a a ~~~ 450 900 0 o i a _ 3 3 .4c~ o C j Q.e ~Y ~Q ° m o` a 4 'i ~~if s No U a V ~ o (6 0 `a II.E nity map Eafe 1 issue 06/22/2005 ~' dot 19, Bl ck~ Pitl~in -Green ,Stib~ision Pi tkin Co un ty, Colorado Nnter - p indicety found monument es described /vsr - Ibis sump it the resv(t of a cb'enf reguesL fv my ed eoent to Ne~s9le jr~ ~ ~ Ty ~su~d impro ~entr on and field norY ronducLed in Jan y it a pv(ation. of ronLanr data souN of Ne b~ '2D05 0~~ 2D~, some dated IS Sept tP6B °g nos bNined from a survey ar"rn ~y u Pte! Boan 4t-etPP~ 285 as )tecepb'oa No.b153633 on 31 August 19]2 m Ne ice of Nr Q Y eod Recorder, 13fkia County, Colorado - beaNnEr arc r'eteGive to a beviug of S 21t2'DD'B' on the line batsmen SX4 post et NR corny end rebv and eep !S PIBB of S& corny of lot IP. - Elevation IMhmt T.B.X. = B2O0.0 feet f the top of a surv j monument Stamped JS 9184 e2 the narN+vert corner of Lof I8 - Ibis property is subjeet to epperenk easements for n!iN~v utLGtfes end ierigetioa diLahm. - Thfs survey does sot represent a bile search by this rosy yor to determine ownerrfup or to dixovv eesemen is or aiGer encumbrmces of iecord. All information pertaining - to oaaership, eesemen is or aEhv encumbrsaces of record Gar been te/ren from final plat of Pit&in Green Subdivision end improvement survep by Aspen Survep Engineers dated B 26/BB. ropxp Fns /yaw .L1D PL1rnC C1p GS - Due to mow and ice coverage certain terrain { atures end improvements may not be depicted suave aauros move seals twcra rulcaxr moan esfw G 3>.B9 ZB.4p 11.99 Y/.al a9{g5' I >I 'S 13B.>3 1 9199 "$804-1 1 GRAPHIC SCAL! 1 {3 t1~`1 ~ tn+t~r) lam = zu n 55rrvepnr's ~cate: I, Stepben L £hJUr, being a Regis[erxd iand Surveyor m Ne Stn Le of Colvedo, do trerrby certify Net [8is i t mprovemen survey ver made undo my supervision "If January"ZDBS, is true end eomd to Ne best N my be4ef and &nowiedge. 1 turtdv cerb'/y Net Ne ~mrovemeats on the above described persey: ezeept utility - ctiot>s e2 enbre(y mfbA N .bounden of Ne parcel es pi sb ra, Net Nem are c}°a hmmta " tb d t ~~ poa ~ eser Premrses by tmpmoements oa y djoiNag Preen ezc DL es Ndieetrd, m d Net tb erc s r a e ppereat nden or sga of en n ~ ~ ~ ~ j~ e ~ ~QQ noted.roi sag ~e:••• -'+P °J p°rt ^f seed parcel, ezcept as • "i fs ` u ~ r r mil` 1~~v `~$~ s ~. " a=:_ O P322_-C f ~P L Eh1 x.S 20193 ~ete i aid ~•.~ .. :. SJ41 ~!tt Vpw° N°4~ rLa bpy pyr map r_ ms's y@' N fimv Yep Iceurzcy SLnderd° f°r !°N(^Oe+e mope 12o'e eaee6d roS W pvq[a eheuld be eltau L/l LAe t rov aw eaQ eep deffuM p°LnG ibuv/d be pbifM M[p(y 1/50' W [beP tare pnvnm dm(ie eDeWd 4 b+N -?a +-^t ' t ~0~~ eue em4et STdmueev . P r^/Jm aeA•. Be : :G't ep°: eJelepm ' Gm. 9 t ,o., L SCHMUESER GORDON MEYER NUY t - h ele9 / t Do ee eyd, o y I 8 W 6TH 6TREET $UR 200" /7 J J~ ~7 / y BEF REV190N L ' Y pm 1Mee n ter f cn 1 G l~ e I ~' . . , £ -GLENWOD6-SPRINLiS COLOPADO H 160 I y~p p ) 7/) / ~ D91F O t 1 t7 Bl O CX /. n CC ecer Py tAu(n lJ l t t ' BY ~/ob hb. r ~ 1 0<r ev a .,y e. ae t°^ ia~ h io~ .n ~ (9707 945 1004 FAX (970) 945-5948 ~P~• CoLOwwo (970) 925-6727 i i aoe ant na e m u umbereC oreo o/ lok Ip sat q ] /~' son Im nI-~ hem e~ 1 Dmm by ' 6 rke a ~m nrrKV . °.° ~. 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IS%-7991 ^ 30% - M91 . 45% anA grerta \\ rewmeW.aM1e OwekpmaM SnvelOMe M q to Mnertre ebellq ennat4ne Nmmah rMM Ma0eeel WAAM bxlrlM ~ a • a~ ~q Une fwemxit ~ ~ ~ MdI~My bnsiope ~•~•~ SNaxke ~~~~~~ DoeWpnenl Enwlepe 1 L /~ YL 0 /~~ 9 ~{/ 0 u N /~~ o W Y ,~ 6 W ~ ~ L ° o N ~ j ~ T ~ O L Q ] r1 T N O 1A'V a Vf IV OI m [T N f0 N ~ ~ Y u 1'~ 0+ O o T"'I v °u rn A c Qa N alts p6n dN~ I Wua 04/19!2005 ta4 aaf 0 S 10 ® riath Parcel Detail Page 1 of 3 Pitkin County Assessor/Treasurer Parcel Detail Information Assessor/Treasure_r_Property Search ~ Assessor Subset Ouery ~ Assessor Sales Search Clerk & Recorder Reception.Search Basic Buildi~Charac_terstcs ~ Tax hiformation Parcel Detail Value Detail ~ Sales Detail ~ Residential/Commercial Improvement Detail Land Detail ~ Photo rg aphs Tax Area Account Number Parcel Number 2007 Mill Levy 008 R003646 273501403016 23.858 Owner Name and Address LIPMAN-MAGNIFICO HOLDINGS LLC ATTN BARBARA 5915 PONCE DE LEON BLVD STE 44 CORAL GABLES, FL 33146-2435 Legal Description SUB:PITKIN GREEN BLK:2 LOT:19 Location Physical Address: 204 MAGNIFICO RD ASPEN Subdivision: PITKIN GREEN Land Acres: 0.73 Land Sq Ft: 0 2008 Property Tax Valuation Information Actual Value Assessed Value Land: 4,800,000 382,080 Im rovements: ~618,800 49,260 Total: 5,418,800 431,3 .4 http://www.pitkinassessor.org/assessor/parcel.asp?ParcelNumber=273501403016 12/8/2008 Parcel Detail Basic Building Characteristics Number of Residential 0 Buildin s: Number ofComm/Ind 0 Buildin s• No Building Records Found Tax Information r~;~nn Tax Year Transaction Type Amount 1997 Tax Amount $7,101.12 1997 Tax Payment: First Half ($3,550.56) 1997 Tax Payment: Second Half ($3,550.56) 1998 Tax Amount $6,985.50 1998 Tax Payment: Whole ($6,985.50) 1998 Interest Charge $139.'71 1998 Interest Payment ($139.71) 1999 Tax Amount $6,954.88 1999 Tax Payment: First Half ($3,477.44) 1999 Tax Payment: Second Half ($3,477.44) 2000 Tax Amount $8,473.48 2000 Tax Payment: First Half ($4,236.74) 2000 Tax Payment: Second Half ($4,236.74) 2001 Tax Amount $10,184.30 2001 Tax Payment: First Half ($5,092.15) 2001 Tax Payment: Second Half ($5,092.15) 2002 Tax Amount $10,144.54 2002 Tax Payment: First Half ($5,072.27) 2002 Tax Payment: Second Half ($5,072.27) 2003 Tax Amount $7,047.94 2003 Tax Payment: First Half ($3,523.97) 2003 Tax Payment: Second Half ($3,523.97) 2004 Tax Amount $7,149.68 2004 Tax Payment: Whole ($7,149.68) Page 2 of 3 http://www.pitkinassessor.org/assessor/parcel.asp?ParcelNumber=273 501403016 12/8/2008 Parcel Detail 2005 Tax Amount I $7,527.601 2005 Tax Payment: Whole ($7,527.60) 2006 Tax Amount $6,167.08 2006 Tax Payment: Whole ($6,167.08) 2006 Interest Charge $123.34 2006 Interest Payment ($123.34) 2007 Tax Amount $9,350.68 2007 Tax Payment: Whole ($9,350.68) Top Of Page Assessor Database Search Options ~ Treasurer Database Search Ontions Pitkin County Home Page Page 3 of 3 The Pitkin County Assessor and Treasurer's Offices make every effort to collect and maintain accurate data. However, Good Turns Software and the Pitkin County Assessor and Treasurer's Offices are unable to warrant any of the information herein contained. Copyright ©2008 Good Turns Software. All Rights Reserved. Database & Web Design by Good Turns Software. ,31.i :, .. Q. 3 http://www.pitkinassessor.org/assessor/parcel.asp?ParcelNumber=273501403016 12/8/2008 MEMORANDUM TO: Community Development Director, Pitkin County Colorado FROM: Cari Anne Holcomb, Planner RE: Lipman Minor Amendment to a Development Permit DATE: December 11, 2008 REQUEST: The Applicant proposes to amend a previously approved building envelope for the purpose of re-grading and re-vegetation of the area behind a newly constructed home. The azea had been disturbed by the previous owners during foundation repairs. The re-grading and re-vegetation proposed will return the area to its natural condition. APPLICANT: Lipman-Magnifico Holdings LLC REPRESENTATIVE: Bryce Olson, Hansen Construction LOCATION: 204 Magnifico Rd, Lot 19, Block 2, Pitkin Green Subdivision. PID#: 2735-014-03-016. ZONING/LOT SIZE: The Lot is zoned R-3Q contains approximately .73 acres, and is conforming in size. PREVIOUS APPROVALS, EXISTING CONDITIONS, and REQUEST: The pazcel received 1041 Hazard Review and GMQS approval pursuant to Administrative Decision No. 55-2005, recorded at Reception No. 511091. This approval established a building envelope within which to replace the existing residence, which was built in 1990 with a valid building permit, and therefore was eligible to be replaced exempt from growth management. The new single family residence has just been finished. The area in the proposed amended development envelope was disturbed by the previous owners during foundation repairs for a shoring road and retaining walls. The current owners wish to return the azea to its natural grade and revegetate the area. STAFF COMMENTS: Minor Amendment to a Development Permit. Pursuant to Section 2-20-150(b) of the July 6`s, 2006 Land Use Code, a minor amendment to any development application or permit is one that meets the following criteria, as determined by the Community Development Director: I. Is consistent with action(s) taken dztring previous development approvals for the property, and Response: The proposed development envelope will be consistent with the actions taken during the previous development approval for the property 2. Does not change the use of the proposed development between residential, commercial, and tourist accommodation uses, mtd Response: The request does not change the use of the proposed development. 3. Does not change the basic character of the approved use of land on which the activity occurs, including basic visual appearance and method of operation, and O~ Response: Approval of this request will not change the basic character or method of operation of the approved use of the land which is single family residential in the R-30 zone district. 4. Does not constitute a new land development activity,, ~arrd Response: The request does not constitute a new land development activity. 5. Does not increase off-site impacts in the surrounding neighborhood,, and Response: The request does not increase off site impacts in the surcound neighborhood and may in fact help with drainage and possible debris flow issues. 6. Does not endanger the public health, safety or welfare, rnrd Response: The request does not endanger the public health, safety or welfaze. 7. Does not violate anv Land Use Code standard, and Response: The request does not violate any Land Use Code Standard 8. Does not s:ebstantially increase the need for orr-site parking or utilities, or affect affordable housing generation,, and Response: The request will not result in any impacts mentioned in No. 8. 9. Does not increase the floor area of the use by more than five (5) percent or decrease the open space on the site by more the five (5) percent. Response: The request will not violate this. Steep and Potentially Unstable Slimes: Land Use Code Sec. 7 20-20 addresses standazds for development on potentially unstable slopes; Response: The Applicant has provided a slope analysis for the proposed activity envelope. The slopes within the amended development envelope are >45%. Development is prohibited on slopes with a slope gradient equal to or exceeding forty-five (45%). A portion of the development envelope was included in the previous approval. The slopes in this area were determined to be minor, man-made anomalies. In the original 1041 Hazard application, these azeas were pointed out for inclusion in order to restore "disturbed slopes". The original request and approval did not anticipate the damage to other azeas in the curcently requested envelope, which were discovered in 2005 when the site was staked for construction fencing. The envelope shall be for grading and re-vegetation purposes only in order to return the area to its natural state. No additional development shall be allowed within the requested envelope. The grading and revegetation shall meet all the conditions required by Section 7-20-20 which are included as conditions in the Decision. It should be noted that this lot is mapped as a severe wildfire area. In order to ensure all new vegetation and grading is appropriate for the lot, additional conditions of approval are included. RECOMMENDATION: Staff recommends that the Director approve the Lipman Minor Amendment to a Development permit to amend a previously approved building envelope to allow for a development envelope to z return a previously disturbed area of >45% slope to its natural grade and re-vegetate the area subject to the conditions of the attached Administrative Decision. ATTACHMENTS: A. Decision. 3 3 PITKIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT 130 South Galena Street 3`tl Floor Aspen, Colorado 81611 (970) 920-5526 FAX # (970) 920-5439 September 26, 2008 Lipman Residence 204 Magnifico Rd Aspen, CO 80611 RE: Removal and Replacement of Dead/Dying Trees 204 Magnifico Rd, Lot 19, Pitkin Green Sub, PID #2735-014-03-016 To Whom It May Concern: Thank you for contacting the planning department in Pitkin County. We appreciate your desire to work with the County and its regulations. At our meeting on September 24, 2008 we discussed three basic items: 1) Removal and Replacement of dead/dying trees located on the property mentioned above; 2) Removal and Replacement of dead/dying trees located in the access easement and ROW; 3) Changes to the landscape plan and wildfire mitigation with Art Hougland. After checking for site specific issues, including scenic review, I have found no planning issues related with item number 1, the removal and replacement of the of those trees located on the property. You may proceed with removing and replacing those only those tress located on the proerty. As for those dead/dying trees which are located within the access easement and ROW. The County will need to see letters of approval from every easement holder as well as approval from the appropriate entity to plant in the right of way. No removal/planting may take place in these areas unless/until permission letters have been received. A separate Land Use letter will be issued at that time. With regard to the wildfire mitigation. The current changes, as review by Art Hougland, who prepared the original and currently approved wildfire mitigation conditions of approval, seem to be, as Art stated in his 2008 letter, "consistent with [his] report dated February 15, 2005". After review of the new landscape plan and the 2005 1041 Hazard Review approval, the County agrees with this statement. If the Applicant desires a more "modified" plan including smaller distances around the newly limbed up "clumps" of service berry and shrub oak ,anew wildfire mitigation plan, approved by Art Hougland must undergo the appropriate land use approval. This letter shall serve as your "permit" to remove and replace those trees, located on the property, that we discussed on 9/24/08. Please retain this letter, should future proof of Land Use approval be required. If you have any questions or concerns, please feel free to call me at 970-920-5092. Sincerely, CGIYC f}N.l~l,e l-tp~COlti(.b Cari Anne Holcomb Planner Community Development Pitkin County 130 South Galena Street, 3rd Floor, Aspen, CO 81611 970.920.5092 (Phone) 970.920.5439 (Fax) cariannehCcaco Pitkin co us L~ PITKIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT 130 South Galena Street 3'° Floor Aspen, Colorado 81611 (970) 920-5526 FAX # (970) 920-5439 November 19, 2008 -Addendum Lipman Residence 204 Magnifico Rd Aspen, CO 80611 RE: Removal and Replacement of dead/dying trees located in the ROW 204 Magnifico Rd, Lot 19, Pitkin Green Sub, PID #2735-014-03-016 To Whom It May Concern: As part of the discussion at our site visit held September 24, 2008 at the above mentioned address, a request was made to remove and replant dead/dying trees located within the right-of- way (ROW). After checking for site specific issues, including scenic view protection, the Pitkin County Planning department has determined that the dead/dying trees located within the ROW at the above mentioned address may be removed. These trees may not, however, be replaced due to the fact the Applicant is unable to obtain the proper ROW development permit from the Pitkin County Public Works Department. This letter shall serve as your "permit" to remove those dead/dying trees, located in the ROW, as originally discussed on 9/24/08. Please retain this letter, should future proof of Land Use approval be required. If you have any questions or concerns, please feel free to call me at 970-920-5092. Sincerely, Cari Anne Holcomb Planner Community Development Pitkin County 130 South Galena Street, 3rd Floor, Aspen, CO 81611 970.920.5092 (Phone) 970.920.5439 (Fax) cariannehla~co.oitkin co us PITHIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT 130 South Galena Street Aspen, Colorado 81611 (970) 920-5526 FAX# (970) 920-5439 December 10, 2008 Bryce Olson BOlson ca,hansenconst.com Cc: Valerie Alexander 300 South Spring Street, Suite #202 Aspen, CO 81611 valerie@bluegreenaspen.com Re: Lipman Minor Amendment to a Development Permit (CASE P137-OS; PID 2735-014-03-016) Dear Mr. Olson: The Planning Office has completed its preliminary review of the captioned application. We have determined that this application is complete. ARer a more detailed review of the submittal information, additional information specific to the application may be requested in order to adequately review and process the application. The planner in charge of the review will request the information from you directly. If you have any questions, please call Cari Anne Holcomb, the planner assigned to your case, at 920-5092. Sincerely, Bonnie Waechtler Administrative Assistant PITHIN COUNTY • COMMUNITY DEVELOPMENT DEPARTMENT 130 S. Galena Street Aspen, Colorado 81611 (970) 920-5526 FAX (970) 920-5439 December 2, 2008 Valerie Alexander 300 South Spring Street, Suite #202 Aspen, Co 81611 Valeriena blueereenasnen com Re: Lipman Minor Amendment to a Development Permit (Case# P137-08) Dear Ms. Alexander, The Community Development Department has completed its preliminary review of the captioned application. We have determined that this application is incomplete. The application will not proceed until the following items aze submitted: • Summary letter explain the request, providing background on prior approvals and permits, and addressing compliance with the Code sections. • New proposed activity envelope. • Proof of ownership. • Consent letter from owner. • 2 additional full copies for reference purposes. If you have any questions, please call the planner assigned to this case, Cari Anne Holcomb at 920- 5092. Thank you. Sincerely, Bonnie Waechtler Administrative Assistant PITHIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT 130 South Galena Street Aspen, Colorado 81611 (970) 920-5526 FAX# (970) 920-5439 MEMORANDUM To: Pitlcin Green Homeowners Association FROM: Cari Anne Holcomb, Community Development Department Re: Lipman Minor Amendment to a Development Permit (PID 2735-014-03-016; Case P1.37-08) DATE: December 10, 2008 Attached for your review and comments are materials for an application submitted by David Lipman. The Pitkin County Community Development Director will review the application. Please return your comments to me by Friday, January 16, 2009. PLEASE RETURN APPLICATION MATERIALS TO COMMUNITY DEVELOPMENT IF YOU HAVE NO FURTHER NEED OF THEM. Thank you. PITKIN C~JNTY COMMUNITY DEVEL~IVIENT Permit Receipt RECEIPT NUMBER 00027027 Name: Hansen Construction, Inc Date:11/18/2008 Project Address: 204 MAGNIFICORD Type: check # 26876 Permit Number 0137.2008. PLAN 0137.2008. PLAN Fee Description PP- Flat Fee PP- Clerk Tech Fee Amount 748.00 25.00 Total: 773.00