HomeMy WebLinkAboutbocc.con.116.2010~~NTRACT # //~ - /D
RESTRICTIVE COVENANT
THIS RESTRICTIVE COVENANT ("Covenant") is made and entered this 2nd day of
March 2010, by Castle Creek Investors, LLP and Edwin J. Smart, a Protected Person
("Grantor(s)") for the benefit of the Pitkin County Board of County Commissioners.
WITNESSETH
WHEREAS, Pitkin County, Colorado, a political subdivision of the State of Colorado
("Grantee"), has established a transferable development right ("TDR") system, Title 8 2006
Pitkin County Land Use Code, as may be amended from time to time (the "Land Use Code"};
WHEREAS, Grantor is the fee simple owner of that certain real Property in Pitkin
County, Colorado that is more particularly described on Exhibit A attached hereto and made a
part hereof by this reference (the "Property");
WHEREAS, contemporaneously with the execution of this Restrictive Covenant,
Grantee is executing and delivering to Grantor an inevocable TDR certificate(s} bearing
Certificate No(s). _/ rZ-D 1- i b- S'v~1 ;
WHEREAS, the Grantor has represented that no development or improvements currently
exist on the Property; and
WHEREAS, in exchange for the issuance of said certificate(s) by Grantee and consistent
with the intent and stated purposes of the TDR system, Grantor is prepared to restrict and
covenant the Property against any future development, as that term is currently defuied in the
Land Use Code, in perpetuity.
NOW, THEREFORE, for and in consideration of the issuance to Grantor of Certificate
No(s). !~--~ i~1 ~-5 W , and in consideration of the covenants, terms,
conditions, and restrictions hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency are hereby acknowledged, Grantor does hereby grant and convey to
Grantee, forever and in perpetuity, an interest in the Property, for and in consideration of the
recitals and mutual covenants, terms, conditions and restrictions contained herein:
1. Restrictive Covenant pertaining to the Property. Grantor hereby restricts the
Property in perpetuity against any and all future development, as defined in the Land Use Code,
commencing on the date of this restrictive covenant. Such restrictions shall include, but are not
limited to, the future development of any single faznily or other residential, commercial or
industrial structures, as well as the future development of any recreational uses, as well as any
change in the current existing use of the unimproved Property, Grantor acknowledges that any
future development right in the Property has been severed from the Property by operation of this
restrictive covenant.
2. Covenant running with the land: binding effect. The provisions of this deed
restriction sha11 constitute a covenant that runs with the title to the Froperty for the benefit of the
Grantee, its successors and assigns and shall be deemed an appurtenance to the title to such land.
Grantor and its successors, heirs, assigns and transferees acknowledge that the TDR certificate(s)
RECEPTION#: 568387, 04107/2014 at
04:13:47 PM,
1 OF 5, R$4.Od Doc Code RESTRICTION
Janice K. Vos Caudill, Pitkin County, CO
issued in consideration for this restrictive covenant is/are severed from the Property and that any
sale, lease or other transfer of title to the Property shall not constitute a transfer of the TDR
certificate(s) and any rights therein.
3. Permitted uses and activities. As owners of the Property, the Grantor retains the
right to perform any act consistent with the Land Use Code to the extent such act is not
prohibited or limited by the requirements of this restrictive covenant. These ownership rights
include, but are not limited to, the right to exclude any member of the public trespassing on the
Property and the right to sell, lease; or otherwise transfer the Property to anyone Grantor
chooses. Nothing herein shall be construed to be an approval by Grantee under the Land Use
Code for any purpose.
4. Enforcement and monitoring. This restrictive covenant and its terms and
representations shall be fully enforceable by Grantee, its successors, assigns and agents in any
action at law or equity or both, to secure compliance, including but not limited to, seeking
injunctive relief and/or specific performance requiring the Grantor, its successors or assigns to
cease and desist alI activity in violation of the terms of this restrictive covenant and to return the
Property to its condition prior to any vioiation. Violation of any of the terms or representations
of this restrictive covenant may aiso result in the administrative canceilation of the TDR
certificate(s) by the Grantee. Moreover, Grantee and its successors, assigns and agents shall be
permitted access to, and to enter upon, the Property at reasonable times solely for the purpose of
monitoring, inspection, and if necessary, remediation in order to enforce and assure compliance
with the terms and conditions of this restrictive covenant.
~. Costs and liab~lities. Grantor retains all responsibilities and sriali bear a11 costs
and liabilities of any kind related to ownership, operation, upkeep, taxes and maintenance of the
Property, including but not limited to, costs associated with compliance with this restrictive
covenant. Grantee's acceptance of this restrictive covenant shall in no way be constnzed as an
assumption of any duties or iiabilities associated with the Property and Grantor acknowledges
that by this restrictive covenant, Grantor continues to retain responsibility for any and all duties
and liabilities associated with the Property.
6. Subordination. At the time of the conveyance of this restrictive covenant, the
Grantor represents that the Property is not subject to any mortgage, deed of trust, or judgment
lien, or any other instrument that might result in a foreclosure action that could affect the
viability of this restrictive covenant.
7. Incorporation of the Land Use Code. The Land Use Code, as may be amended
from time to time, and any terms or definitions contained therein, are hereby incorporated by this
reference in their entirety.
8. Prohibition against future TDR. Unless otherwise provided by the Land Use
Code and agreed upon by Grantee, Grantor shall not be entitled to any future, additional TDR
arising from ownership of the Praperty following the execution of this restrictive covenant.
9. Modification. The terms of this restrictive covenant can only be modified by an
amended covenant executed by both Grantor and Grantee and recorded in the records of the
Clerk and Recorder for Pitkin County, Colorado.
~
10. Venue and jurisdiction. Grantor and Grantee consent to venue and jurisdiction
in the District Court for Pitkin County, Colorado for all matters concerning the interpretation and
enforcement of this restrictive covenant.
11. Attorneys fees and costs. In the event of any action or suit between the parties
hereto or their successors and assigns to enforce any of the agreements, covenants or restrictions
contained herein, the prevailing party in any such action or suit, whether by final judgment or out
of court settlement, shall recover from the other party all costs and expenses of such action or
suit including reasonable attorneys fees.
IN WITNESS WHEREOF, Grantor has executed this restrictive covenant as of the date
and year first written above.
~_ ~__.._ ~
.~_
s
By John Miller - resident By: R~ L. Steenrod, Jr. - Conservator
stle Creek Investors, LLP For Edwin J. Smart, a Frotected Person
State of Colorado
) ss.
County of Pitkin )
Th foregoing Rest ictive Covenant was acknowledged before me this ~ day of ~ 24 /c~ ~~ K vA~/ ~e,r
\ , „~ •
~• ~ S~fryV~DC~ ~/. ,~ `~•• '• ~S
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Witness my hand and official seal Y~ ~
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My commission expires on: _ b!~~i ~ ~ .
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at~ G:p
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ocazy Pub~ic
State of Colorado )
County of Pitkin
) ss.
The fore oing Restrictive Covenant was acknowledged before me this 3•~ day of _.~'l~,rck 20~ by
~c,~n /K~~~rr
Witness my hand and official seal
My commission expires on: ~(o~' ~ a
1 T lsj.
otary Publi
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ACCEPTED BY
Pitkin County Board of County Commissioners
~ ~ r
. F~ 'i V ~'"V
By: [Name] [Title] ,~OCC C iR~
State of Colorado )
) ss.
County of Pitkin )
The foregoing Restrictive Covenant was acknowledged before me this ~ day of ~
20~ by ;, rvrcra N~ L~wta ~
~J
Witness my hand and official seal
My commission expires on: 1' ~~•o1~j Z_
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