HomeMy WebLinkAboutbocc.ord.022.2010 CONTRACT # M-9a
AN ORDINANCE OF THE
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO, AUTHORIZING ACQUISITION OF THE
SCHOELLKOPF PROPERTIES ALONG EAST SOPRIS CREEK ROAD
ORDINANCE # , SERIES OF 2010
RECITALS
1. The Voters of Pitkin County and the Pitkin County Commissioners established an Open
Space and Trails Fund for the purposes of preserving and providing open space and trails
resources in Pitkin County, and established an Open Space and Trails Board of Trustees to
guide the expenditure of those funds.
2. The Open Space and Trails Program is charged with protecting open space, habitat, scenic
view planes, and recreational routes on public lands.
3. The Schoellkopf Properties possess important natural, scenic, recreational, and wildlife
values.
4. Development of the Schoellkopf Properties would result in significant habitat loss.
5. On September 2, 2010, the Open Space and Trails Board recommended to the BOCC the
expenditure of $900,000 on open space funds for the acquisition of the Schoellkopf
Properties.
NOW THEREFORE BE IT ORDAINED by the Board of County
Commissioners of Pitkin County, Colorado, that:
1. The Board approves an expenditure of $895,000 for the acquisition of the
Schoellkopf Properties, and up to $5,000 in related transaction and property
restoration expenses.
2. Upon approval of the form by the Open Space Director and County Attorney, the
Chair is authorized to execute a contract for purchase of the Schoellkopf
Properties for $895,000, and the Chair is further authorized to execute such
documents as a necessary to consummate this transaction upon approval of the
form thereof by the Open Space Director and County Attorney.
1
3. That adjustments be made to the year 2010 budget as follows:
OPEN SPACE AND TRAILS FUND
Previous Revised
Budget This Change Proi Budget
Schoellkopf Properties Lode Acquisition
Expenditure 0 $900,000 $900,000
The BOCC finds that adoption of this ordinance is necessary for the immediate
preservation of the public health, safety and welfare of the citizens of Pitkin County and
therefore declares this ordinance and legislation to be effective immediately.
The Board hereby declares its official intent to reimburse current expenditures from a
future issuance of Pitkin County general obligation bonds.
INTRODUCED, FIRST READ, AND APPROVED ON THE 22nd DAY OF
SEPTEMBER, 2010.
NOTICE OF PUBLIC HEARANF FUBLISHED IN THE ASPEN TIMES
WEEKLY ON THE jai DAY OFafrOba 2010.
APPROVED UPON SECOND READING AND PUBLIC HEARING ON
THE 13th DAY OF OCTOBER 2010.
PUBLISHED AFTER A OPTION I E WEEKEND EDITION OF THE
ASPEN TIMES ON THE gym DAY OF , 2010.
ATTEST: BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
)1 • , 1, ✓Vt /---
Je. �•tte Jones George Ne man
De ,7 ty Clerk Chair
Date: ///5/
4
APPROVED AS TO FORM:
Vl
John Phylis attice
C orney Interi ounty Manager
c ab 1 I taist_
Dale Will, Direct
Open Space and Trails Program
Or -2070
......_.._.__.._...
5
3
r .
r The printed portions of this form. except differentiated additions. have been approved by the Colorado Real Estate
Commission. (CBS 3 -7 -04)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL. AND
TAX OR OTHER COUNSEL BEFORE SIGNING.
CONTRACT TO BUY AND SELL (REAL ESTATE
(VACANT LAND - FARM - RANCH)
Date. j 09 -01 -10
Purchase Price: .$895.000
1. AGItEEM ENT. Buyer agrees to bey, and the undersigned Seller agrees to sell, the Property defined below on the
terns alai conditions set forth in this contract.
2. DEFINED TERMS.
a, Buyer. Buyer. the Board of County Commissioncis of Pitkin County" g ill take
title to the real property described below.
b, Property. The Property is the following legally described real estate: Pitkin County Parcel Numbers 2467-
301 -00 -005 of approximately 39.5 acres. and 2467- 304 -00 -006 of approximately 39.9 acres lying on the north side of
East Sopris Creek Road, together with the interests. easements, rights. benefits. improvements and anached fixtures
appurtenant thereto, all interest of Seller in vacated streets and alleys adjacent thereto, except as heroin escluded.
Dates and Deadlines.
Item No. Reference Event Date or Deadline
I §Sa Loan Application Deadline
-e
2 §5b Loan Commitment Deadline
...
3 §5c Buyer's Credit Information Deadline
4 §5c Disapproval o! Buyer's Credit Deadline
5 §5d Existing Loan Documents Deadline
6 §5d Objection to Existing Loan Documents Deadline —
7 §5d Approval of Loan Transfer Deadline
8 * Appraisal Deadline NA
9 §7a Title Deadline September 26, 2010
10 §7e Survey Deadline September 26, 2010
I I §Se Survey Objection Deadline October Itl, 2010
12 §70 Document Request Deadline September 26. 2010
13 §8a Title Objection Deadline October 10. 2010
14 §8b 01T-Record Matters Deadline September 26, 2010
Li §8h Off-Record Matters Objection Deadline October Ill. 2011)
16 § 10 Seller's Property Disclosure Deadline September 26. 2010
17 § Inspection Objection Deadline September 26. 2010
18 § Resolution Deadline October 17, 2010
19 §I0c Properly Insuanee Objection Deadline October 10, 2011)
20 § I I Closing Date October 22, 2010
21 § 16 Possession Date October 18, 2010
22 § 16 Possession Time 5:00 pm
23 §27 Acceptance Deadline Date September 7, 2010
24 §27 .Acceptance Deadline Time 10:00 :an
CBS 3-7-04 CONTRACT TO BUY AND SELL REAL ESTATE (VACANT LAND - FARM - RANCHj ,, A,
Page I of 9 1ni11al JJ
d. Attachments. The 1 blowing are a parr 01' this contract: Addendum 1
Note: The following disclosure forms are attached but are not a part of this contract: NA
e. Applicability of Terms. A check or similar Hoak in a box means that such provision is applicable. The
abbreviation"NIA" means not applicable. The abbreviation "M1 C" (mutual eseculion of this contract) means the latest date
upon which both parties have signed this contract.
3. INCLUSIONS AND EXCLUSIONS. The Purchase Price includes the following items (Inclusions):
R. Fixtures. If attached to the Property on the dale of this t:0 nlracl. 4ightxlgrhea[iag plunthing;— - a#laline, gad
aif- eoadisienf -ng-F tur::s.-nside- telis>hene-wirir a-andttimaeeting- b4u$J.s j:rek;. pla1145 -ntirr<+n;- A«eaoowrinw; -i i4ew era
systera+lprinKler tit+teinswitd- ca>akols;. if any.
b. Exelusions. The following attached fixtures are excluded from this sale:
e.- .---- _.- .- P-evsoaatd4vperty. It oa- the 4 d nontawa- Ihedote of Ihit;- etattraet-
sloes wwi ..do.etir-Sarrntlocw arid - porch- shae4es awaings. hkadsrsereenacxviadow - uovev - ings. otnzai+i-rod5rdrape r'.kts:
-h
slaragr ,lds
a- acrd- .! {. -kr ..,yr.:ed +he- following- art- irxludusl: EJ- Sraokellk ice -Rodeo tar+- E+-Seeuri4y-- SysEemst-aarl
d. Tea nskee of Personal Prowl-ye-The Personal Property - to- he- eelweyec4 a4- Closing shall be
eon eyed Seller, free-and- eIear -o4 a4l- tares- (eifepI- persona!- properly- daises for-the-year of closing)
liens and ar+et+r»branees: exevpt -- .... __ ._ __
Gonvey*nte- Kati -h, by bits -e s&e- or- ol1ieeapp1ieable- legal- instrtonent,
e. - -- rode- F4stanes -.- With- respeel- to- twde- (Wtures, Seller -and- 73oyeragree-as- {dlews-
f. Water Rights. The Iiollnwing legally described water rights: All wrier rights appurtcnem to the
Property.Reserv1ng to Grantor the water rights not appurtenant. and associated with other property owned by the Grantor.
including. without limitation. the well water rights for the immth Well No. 4 tWell Permit No. 31595) for 0.33 cis. for
domestic use decreed on December 5, 1972 in Case No. W -1251 (Water Division No. 5, State or Colorado) and the Valana K.
Reservoir No. I decreed on June 20. 1973 in Case No. W -1695 ( Water Division No. 5. Slate of Colorado) for 19.38 acre
feet Amy water rights shall be conveyed by quit claim deed or other applicable legal inslomeul
g. Growing Crops. With respeel to growing crops. Seller and Buyer agree as follows: NA
4. PURCHASE PRICE AND TEIi]S. The Purchase Price set forth below shall he payable in U. S.
Dollars by Buyer as follows:
Item No. Reference Item Amount Amount
5 4 Purchase Price $895.000
2 § 4a Ernest Money $50,000 $50,000
3 *411(11 New First loan
4 § 4c New Second Loan
5 §4t1 Assumption Balance
n _... Seller or Private Financing
3
9 § 4e ('ash at Closing
10 TOTAL. $895.01X1
Note: It there is an inconvucncy between the Purchase e Price on the lint page and this § 4, the amount in § 4 shall control
a. Earnest Money. the Earnest Money set forth in this section, in the form of is part pay 111011 of the Purchase
Price and shall he payable to and held by Stewart fide Company.
CBS 3 -7 -04 CONTRACT TO BUY AND SELL REAL ESTATE (VACANT LAND - FARM - RANCH) -'
(Earnest Money I Inkier). in its truest account. on behalf nl loth Seller and Buyer. The Earnest Money deposit shall be tendered
on the dale of Anal approval by the Huard of Count Commissioners, as further provided in paragraph 3 or Addendum 1. attached
hereto. with- thlti -c'onk 1 unless the parties mukrelly -fig. a curd- seHOrtk- a- ti77ureat- deadlineTty- writing- ttar 464-paymern. he
6
parties authorize deliver) of the ICaille51 Monty deposit to the closing conipany. le an v. al or before C lo s Wu In the event Auirot 4
Mthier-140k40 has - 'Twat) to la,ve-interetn -on-ear-nest nknoy leposits-wansfeated-to-a-fund--establislied-kw-the-purpose-
proa-idicat-t.gor-dab-le-lntusing-to -Gulor-ade-maidenkr-Setlier and Buyer actnewlechte 0 arc lbw) oh) intuest-tweining 01-1-the
4aameet-Mone,v-deposi4-ed-with-Me-EaFttest-Moctey44e4dep-in-1his4ransLotierbeha4l4w-wabafewed-to-such-latad.
NevEg4osi4eatb4144isr-shalltalwani-44iew loan sot-loWlbin-this-sAtelion-as-folkaata
e-Cenvetaiansl -------B-Other
--- PIO .kan wil I be sz Awed-beta _ _ .. _______ (461.-2441e-ece.) de-A-al:twat:
f he total loannimeauhnot ewe cs- .A.thall tee unionized etAAA1
pefftid-01 Vtabs-e-Atnittlis lippFeiliiialtis4- war
including painekal owl interest not-il C % pee-anuttua,-- plus. ill-reunifed-ba-BoyeWA lendea A -deposit
bocci Cati10-li4es and rWlper1y-iliStiffilliiti-pF01414101,-if ht
adtusbilale-intemat Fate-oweraduete,Lpaaanont-loarb-the-paytneins-and-imerestwate-ifiitteltyshall nut-teed-the-titturway-seLfork
above,
ivf,..iiii-diS141111il poinl, iLanyrehall-ht-paid-te-tendernt--(4weing-and-Ahall-unt-etateed 2ba of Ok-total loan antonco
blob% ithatanding-the-lownts-ikeicestwaterthe-lwat--- loan disettuntimink-sliall-be paid Ly - the-achten-,
i-Lanyc altall-htt-paid by
Boyer shal ktka.drpay-Ba as leanenstanik-a-loan oribination-feeAmt-ta exceed c,[1e-klbli-iiiiiO41/4.:
421--New-Seeend Loan. Buyer ;hall obtain-aloanAtet-k-wdbin-tititas:eet.ion-as follows"
44tis be-seetticed-bye . (204 :
"Flat-totol loan amount. 1.04-111-ekeeSS $ --ahallbenntorLizett-naceb-o period of-
42-Veabs-43-A-1-ostlasepayable-aLapprotti0a4el) Pec inelkling-lalettibtpal- tout
inkiest nbt 0 es:et-wit- %-pef-.11011111 li:44.10-40A-H-I-S-REH*4.4able graLtiated payfilefit loan. the-pi-pm-wails
ittittrHiWrtA ' exceed t4e-41#twes net fent, iiSMAt,
Loan-d-i-SaAttlit-pOilltr. if-any, .thall-tw-paid- to-lendet of-theLnial loan
amount, NOIMith!RIAdiRg- Lfie lefin'u-interacct rate: -40t1A-distotiovpoirds shall- L, and
dwAcmhoweif eity,-shal-Lbetabl-kk-
1-toyebahe I I 'ill pay-Rut:a...s-loan Atems-anct-a-kawobig-inaiion-See-notiel-eXC.Nd— =li'o- the-loen ii111004.11,
e,— A-stawn ption, 4111)er it6rees to 4.s:4 me. and-pay an eNiating lc AA- 41-141e-applON-klitik.-Mili4011144
11 t; :et4ien pI'Oth44y.pKY8bI+41l4 P0
Moluding prinetpuintereet latesenth---al - -Afiti-Oltatrtoetwlin, °seam- foo-the folhweing-as-imbentaAL
8-11ea-1-Estate-Taaeu-e-P-boperly-tosattanee-P-remium-and-- - _ _________
- - - ---
Btocebegkes 4o-Lany-a-kaan-bansfer-fee-nekte-,Acetod $ -A-14heLinten-Latwaniption. 44te-new-interew
mk ;hall not etketed-- 44,-pea-anawn and clic newtomitent Liall not exteed4- interest. pia:,
etie+00/.. i4L4tElt 1301tHiee-..-Whii-h-eattieti
the-OiO410W cash-wenn-Wed- front-Buyer-at-e-los-ing to --be-inebetwed-lty-moreLhan $ y -then-E3-4-tuyeb May
T-eHtlifltlie lint: contract effeetiatc, upon -beeeipI-- of--blayer's written-- liftliet•— o1=-Forminat-ioo-- or
SeIbeE- H4il1s11--
for- release flawn-liobility-shall be toeideneed-by-delive r at-C-kwing-o-f-un-appropakk-leiter-of-ewitunionent 'actin lendearLesta
payahle----foa �f--shall--4 o paid 0 an amount noi---m-e-aceed- $
.eller-or-P-rivute-Fintmeing. Boyeregreeswibetreente-a-promicwory note-payable-na
--- -{4-Temuw4 in-EALto mon H-Other.-- - .
on-the-note-(oanbawind ie-Att414
Fi (1.!Cat.-No-Default-114444‘4:114-8-2-5-04-8 NT I) 81 5-04
e-Other-- = seenta.td-by a __ 7. -(-1-stc-2ndrete,1deed-e4atinst-emetunberingLbelempectue„
usirk4l1e-lo1-n-ab in,lieated+19-4toiet-Due-thi-Saleal) 72 5-041e Crn 73 5 01) e-Ataattniable---Not-Due Ott
Sit e (TI) 74-4-04-ber-Gther
The-pronaissoay-notwaki41-benmoatize4on-1 he hurts or H-Venfs-e - 7-=-pef
cuelcline-priouipakintal-inteteat- a4-the tate-oc--- tl.o
-- day of Licelt succeeding -- _ 11"not-sounea-patte-balcutee-of-picine it al and accowd-itclefest-thall-he-dtte-thk
- -
CBS 3-7-04 CONTRACT To Du v AND SELL REAL ESTATE (VACAN'E LA NI) - FARM - RA NCI-I) °441-
, ~ .—'_ —
/O Shall No( hd-lnere-sed4s __ -rol=es-leinked-anntrel-cettl-extine-taxotg told
�nn�� x >i/xo� �� �
io� • /indue dmerofate+*xnge*r
be due
e. Cash lit c|mio» All moon ms paid byu"3x.m Closing including Cash m Closing, plus Buyer's closing
costs. shall ,"i. funds which ^"m,; with all applicable Colorado laws. ^4ia` include cash. electronic Iran urfunds, certified
check. savings and loan teller's .hc*k and cashier's cheek (Good Funds).
5. F|xAN.rIwG-Gfwxu*}nwu,w,*-ODu'aT/vNs,
",- Loan+vpa»-Eim/,-if Buyer-is- (a-pay-an -tec *^'+*/th./Rm*hos,-wrio~+”-^la-ai"inx o new /o"m,'*c-xf-
existing loan itt-ttot tob+ make "n,oiooleom.1/+u/i.x`Fu
, ~esw|l^^wnvm *mv,u/, do4"oy. and +in*lx/°*m,
pn'**-gnwo-txim.*°**/+W.1-trom,,^o*, vvvi,^o opl,ade, (ant mltim lb
end- 424 -4 4o, 14w+l-y-l"a,"(+1i°-e/54(4 +416 - 14= 4 i`f - mo1) |.,:^m`'e^oofr-*°n-sm`+-l^nye,-w:/,e, °,mour, o.v,,^`mmw.
`.vm../oem+*li lewoixm`d Atoll 004. »,,°*��*/^vp|x"tioor°*�-im`^goo^/ly-emx,+»”+*moge
"*m,y/*^^s !bet-would rvedic'|'mle-A *vpm+°|*f- the. loan «p`xe*444^u/°ndin*'of-41u`|*um,00ye, o+^r obi ".d^a/em
f*°n"ing-pm w,d-»ule,-i*gurs ^" o*r~
le. L°xn-C-omm/*'',^t,--144h~*'/,,ov+,u x**ort oohe
in ' 4 th. this e." "iog*+niom./omfi^o^m/i*°m,/.
unless. S,u~'°,"+i+,s 41511.9*4o14'1*i*cm^m meni|;w,ox*e-+4 2c). written-mu-ice-of
*e��om+e/m*^°*erth-/f mis-ett°mxt-,xw+-*noina*e+F - SELLER DOES NOT RECEIVE
*fulTu* waTTCLE TO:/n/*�wNI*oE-A-NDon*xuow/ES}NOTf;uncu^xIDVwg-S-uAx,L-xES +wusPa*/st
^ o*di+f*m*o"wio.. ,, i , eb''`,"//'p`*pmmiss°5^note-lo
fa ,"' ,xSt.oe i/*n^+� opv's
fmao.itu*hili*- and creditworthiness. rua+a,p^"a :hall ^.ulxu|e/+,°|e-a^cl-ab,°/me~am'+^"°.-10-suw,*ev o+-*o�e
*u/ amxy*`oox° "°yer t,-fe,^it,--141 for /emi*^ Deadline (I; -2,+r*^Rxy~/a,,,rm`*, a*'°owo/
p/ne,mioc Bo) , ' , n°m^+m,,mp|"_xsxe"t-im.4-*gd.tu"(//^*/`� (-2-)-o*yer*o**,*m-/|.*-s,|*may v",iiy 4,rm4|�^m�oa
i/mrxoh(3)x^, -(1."./*w+*e*-41.(1 [Pr
-4 5fa 14 g*�`".^ntlenee , mu/nm+eleo,°uo+ithwgs-"et-ep*o-r^x,w*elle*+i*testm,,,a**,t-i. o +^141
»+xe^oes**t-p*°*w*-wri*m`,*t/v°+/,^nc'ls-u,w~m,a|x` Royer uy
S0I4**a`. o mrioent
sha0restninale
/ammd`444 x|."^t�Sel|veshu|
/.o. +l0i1 - 00,oe+4ia*tifiw*me deed- ~/+o'u,^oo-,my`,o"wriemimn+m*or*|n` &umi.g4m`f^^,*.om,*oe°^f/",rf'2+/.
fhts-eml°*+.+t:m,itaionu| upon *"*/`,~s-i-*pand.owpw+x/- of-the p^'i'/.,^**/ |^w (4. *.**x,**ie*-o/
°hjeEti.m 4+mo t*eemrm,. ,,«`i, /,S`||m-by-th*f>^}wetio"-to Exi-st°�f^wo-*"'mm`+x
,nxoitte+�.2+). uorer-n**pu til"+,,msant4-+°°d-iti°m°(m*,|omme.t,-|11 o*-l**uecs~appn°*wr*(,m,^/e"^/4ha`v,p~.+'+
povli-i,e**"/w// e,°aloo"/ io+w/*nna*`*,a» -l*^u*ttu,p/*+sa.
oo "|` 4x1-f|~nd,"svr^*,o/ is^°"obutn,d ^n ,*mm~t u`m/*ue^*aw
liau/ity /oa
fordi-1144-1-er this t-iom
6. APPRAISAL PROVISIONS.
^. Appraisal Condition. r his subsection :+a-*oo«s Shall Not apply
14°3 *Weii-on-*-t^,min*t+*.is*m*,w,l onm'r*eli«e+pie**,`**`, -the
-1 +^tuuli-ouluta,minod k'-an-a.ppnism`oxmwr4-by--7-7,- -____ �A��*�"/mm�shax/u/n°m*
m mti",el-i~m`i,*tim.m4*.mo,'. an,vese|o, written -*°Fic*+is"*'/ww°' that
o°isrurm,^x* P +f 2,/,1.1. Sem**wo!,
*.w^°ee
��-s,bseetant,
x.o//,`pp,*^,w, Cost-of a^y-a,p'"/w/'te ».m/`ittou"*,,*e-(lu~*f this 11oo*^^,xo|1/`~ /.rm/rvvitl4r
Nal,*
CBS 7*r/ /or~~^~~~^^^~~~^~=~~~~ ESTATE (VACANT ~~~~ NI) -EA II 71_/ncn>
Page f*rp Initials
/f'
7. EVIDENCE OF TITLE.
a. Evidence of Title. On or before Title Deadline 1§ 2c). Seller shall muse lu be furnished 10 haver. at Seller's
expense. a current commitment for owner's title insurance policy ("title Commitment) from Stetvan Title Company. in an amount
equal to the Purchase Price, or if this box is checked, 0 An Abstract of title certified to 0 current dale. Ai Sellers expense.
Sella shall cause the title 'assurance policy to he issued and delivered to Buyer as zoom as practicable at or after Closing. If a title
insurance commitment is furnished. it X Shall S-Shal3 -Not commit to delete or insure over the standard exceptions which relate
lo'
(1) parties in possession,
(2) unrecorded easements.
(3) survey matters.
(4) any unrecorded mechanic's liens,
(5) gap period (elTective dale or commitment to date deer) is recorded), aid
(6) unpaid nixes. ussessmems and unredeemed lax sales prior In the year of Closing.
Any additional prem1001 expense to obtain this additional coverage shall be paid by C1 Buyer 0 Seller.
b. Copies of Exceptions. On or before Title Deadline f§ 2c). Seller_ at Seller's expense. shall Punish to Buyer
and _- ___.__... ............... —. -- _. . 1 I) a copy of tiny
plats. Jcclarotion s, covenants. conditions and restrictions burdening the Properly. and (2) if a title insurance commitment Is
required to be furnished. and if this bits is checked ❑Copies of any Other Documents (or. if illegible summaries of such
documents) listed in the schedule of exceptions (Exceptions). 11 yen if the box is not checked. Seller shall have the Obligation 10
furnish these ti0CUmenis pursuant to this subsection if requested by Buyer any time 011 or before Document Request Deadline
(§ 2c). th is requirement shall pertain only ur documents as shown of record in the offices of the clerk and recorder. 'llte obstruct
or title insurance commitment. together with any copies or summaries of such doc'unrents tnmished pwsuanl to this section.
constitute the title documents (Title Documents).
c. Survey. On or before Survey Deadline 1§ 2e1 X Seller elluyer shall cause Buyer;md the issuer of the 'title
commitment or the provider of the opinion of title if an abstract to receive n current X Improvement Survey Plat Cl
Improvement Location Certificate ❑ -_ __
(Mc description checked is known as Survey). An- tluloennot-tits wxcecxl $ _ -- k+r- ,+iarvar xd1 be t rrid -b f� -Buyer
EiSetler,41 theeost-csc..xlsdhisotwount- _._- - shall---pay the seess- eI- c *-biRoics4;Iesiug.
8. TITLE AND SURVEY REVIEW.
- ntie Review. Buyer shall have the right to inspect the 'flak Documents. Written notice by Buyer 01
unmerchanhlhility of title. lbrm or content of 'title Commitment or of any other unsatisfactory title condition shown by the '1 itle
Documents, notwithstanding § 12. shall he signed by or on behalf of Buyer and given to Seiler on or before Title Objection
Deadline (§ 2e). or within live (5) calendar days after receipt by Buyer of any change to the Title 1)ocmncnls or endorsement to
the Title Commitment together with a copy of the document adding any new Exception to title. If 5011er does nor receive Buyer's
notice by the date specified above, Buyer accepts the condition of title as disclosed b) the Mlle Documents as satisfactory.
b. Matters not Shown by the Public Records. Seller :shall deliver to Buser. on or before Off - Record Matters
Deadline (§ 2c) true copies or all leases and surveys in Seller's possession pertaining to the Properly and shall disclose m Buyer
till casements, liens (including, without lirnilation, governmental improvements approved. but 1101 sal installed) or other title
molten (including, without limitation. rights of pest refuuil. a nd options) n ot s by the public records of which Seller has
actual knowledge. Buyer shall have the right to inspect the Property to determine if any third party has any right in the Property
nut shown by the public records (such as an unrecorded easement. uurccurdel lease, or boundary line discrepancy), Written
notice of any unseat sfaetory condition disclosed by Seller or revealed by such inspection, 1101withsland 1ng § 1 shall be signed
by or on behalf' of Buyer and given to Seller on or before Off - Record Matters Objection Deadline 1* 2c). IF Seller does not
receive Buyers notice by said date, Buyer accepts title subject to such rights. i1 umy. of third panics of which Boyer has actor
knowledge.
c. Survey Review. Buyer shall have the right to inspect Survey. If written notice by or on behalf of Buyer of
any unsatisfactory condition shown by Survey. notwithstanding § 8b or § 12. is received by Seller on or before Survey
Objection Deadline I(j 2c) then suet) objection shall he deemed an unsatisfactory title condition. If Seller does not reveisc
Buyer's notice by Survey Objection Deadline (§ 2c). Buyer accepts Survey as satisfactory.
d. Special faxing Districts. SPECIAL 'FAXING DIS'T'RICTS MAY 13E SUBJECT TO GENERAI.
OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON
THE TAXABLE PROPERTY WITHIN SUCH DIS'T'RICTS. PROPERTY OWNERS IN SUCH DISTRICT'S MAY BE
PLACED AT RISK FOR INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE
SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESUMING IN THE INABILITY OF SUCH A
DISTRICT TO DISCIIARGls SUCH INDEB'T'EDNESS WI SUCH AN INCREASE IN MILL LEVIES. BUYER
('BS 3 -7 -04 CONTRACT TO BUY AND SELL REAL @S I'VI'I' \'A('ANT'LA ND - FA ItM RANCH)
Page 5 or 9 Initials
q
SHOULD INVESTIGATE TIIE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL
OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DIS'TRI( I
SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
In the event the Properly is located within n special taxing district and I3uver desires to terminate this contract as a
result. if written notice is received by Seller on or before Off- Record Matters Objection Deadline (§ 2e). this contract shall then
terminate. 11 Seller does not receive Buyer's notice by such dale, Lauver accepts the effect of the Propeny's inclusion in such
special taxing district and waives the right to terminate.
e. Right to Object, Cure. Buyer's right m object shall include. but not be limited In those matters listed in * 12.
If Seller receltes not tee of unnlerchanlabi lily of title or any other unsatisfactory title condition or comnliunenl terms as provided
in subsections 8 a, h. c and d above. Seller shall use reasonable efforts lo correct said items and bear any nominal expense to
correct the sane prior to Closing. II such unsalisRieiov title condition is 001 corrected to Buyer's satisfaction on or before
Closing. this contract shall then terminate: provided. however. Buyer nm) - , by writ len notice received by Seller 00 or before
('losing. waive objection to such items,
f. Title Advisory. The Title Documents ;dfect the title. ownership and use of the Properly and should he
rcviered circlillly. Additionally, other matters n reelected in the Title Dacmnents may l'l el the title. ownership and use of the
Property. including without limitation boundary lines and encroachments. area, zoning. unrecorded easements and clams of
%Muements. leases and other unrecorded agreements, and various laws and governmental regulations concerning land use.
development and environmental mailers. The surface estate may be owned separately from the underlying mineral estate,
and transfer of the surface estate does not necessarily include transfer of the mineral rights. Third parties may held
interests in oil, gas, other minerals, geothermal energy or water on or under the Properly, which interests may give there
rights to enter at id use the Property. Such matters May he cxe1 udetl front the line insurance pal iev. Buyer is advised to timely
consult legal counsel with respect to all such antlers as there are strict time limits provided in this contract (e.g.. Title Objection
Deadline 1§ 2e1 and Off - Record Matters Objection Deadline (§ 2e)).
9. LEAD -BASED PAINT. Unless exempt, if the improvements on the Property include one or more residential dwellings
for which a building permit was issued prior to January 1. 1978. this contract shall be void u 0 completed Lead -Based Paint
Disclosure (Sales) lone is signed by Sella and the required real estate licenses. which must occur prior to the parties signing this
contnael,
10. PROPERTY DISCLOSURE, INSPECTION AND INSURABILITY; BUYER DISCLOSURE. On or before
Seller's Property Disclosure Deadline (§ 2c), Seller agrees to provide Buyer with a Seller's Properly Disclosure (Vacant Landl
form completed by Seller to the best or Seller's current actual knowledge.
a. Inspection Objection Deadline. Buyer Shall have the right 10 have inspections of the physical condition of
the P ropeny and Inclusions. at Buyer's expense. I r the physical condition of the Property or Inclusions is unsatisfactory in Buyer's
subjective discretion. Buyer shall. 00 or before Inspection Objection Deadline 1* 2c):
(1) notify Seller in writing that this contract is terminated, or
(2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires
Seller to Correct (Notice to Correct).
If written notice is not received by Seller on or before Inspection Objection Deadline 1§ 2 2c). the physical
condition 01 Property and Inclusions shill he deemed to he satisfactory to 13uyer.
b. Resolution Deadline. If a Notice to Correct is received by Seller and if Bus en and Seller have not
agreed in writing to a settlement thereof on or before Itesolut ion Deadline (§ 2e). this contract shall terminate one ealendar dray
following the Resolution Deadline (§ 2c)- unless before such termination Seller 'sec ves Buyer's written withdrawal of the
Notice to Correa.
c. Insurability. This contract is auditioned upon Buyer's satisfaction. in Buyer's subjcaile
discretion. with the availability, terms. eundilions and premium for property iasxalce. This conlracl shall terminate upon Seller's
receipt. 00 or before Property Insurance Objection Deadline (§ 2e of Bu written notice that such insurance was not
satisfactory to Buyer. If said notice is inn timely received, Buyer shall have waived any right to terminate under this provision.
d. Damage, Liens and Indemnity. Buyer is responsible for payment for all inspections. surve)s.
engineering repons Or hrr any other work performed at Buyer's request and shall pay for any damage which occurs to the Properly
and Inclusions as a result of such aeih 1i es Buyer shall not permit claims or liens of any kind against the Property for inspections.
surveys, engineering reports and for any other work perthrnied on the Property al Buyer's request. Buyer agrees to indemnify.
protect and hold Seller harmless from and against any liability. damage. cost or es pcnse Incurred by Seller In cOnlisx000 with any
such inspections. claim. or lien. This indemnity includes Sellers ri gi1 to recover all costs and expenses incurred by Seller to
enforce This subsection. including Seller's reasonable attorney and legal fees. The provisions of this subset:akm shall Survive the
termination of this conlracl.
CBS 3- 7- 04('ON'I KAC170BUY A ND 51:1.1, REAL ESTATE (VACANT FARM RANCH)
Page. 6 of 9 Initials
/6
1 1. CLOSING. Delivery of deed from Seller to Buser shall be at closing (Closing). Closing shall be 00 the dale specified
as Closing Date (§ 20 or by mutual agreement at an earlier date, The hour and place of Closing shall be as designated by 13uvar.
12. TRANSFER OF TITLE. Subject to tender or paymenl al Closing as required herein and compliunee by Buyer with
the other Icons and provisions hereof. Seller shall execute and deliver a good and sufficient General Warrantee dud to Buyer. at
Closing. conveying the Property free and clear of all taxes except the general taxes Ibr the year of Closing. Except as provided
herein, title shall he conveyed flee and clear or all liens, including any governmental liens for special improvements installed as
of the dale of Buyer's signature hereon. whether assessed or not. Lille shall be conveyed subject lo.
a, those specific 15xceptions described by reference to recorded documents 115 reflected in the Title Docun en is
accepted her Buyer in accordance with S 8a (Mille Review),
b. distribution utility cascmenls.
c. those specifically described rights of third parties not shown by the public records of which Buyer has actual
knowledge and which were accepted by Buyer in accordance with § 8h (Matters not Shown by the Public Records) and § Sc
(Survey Review).
d. inclusion of the Properly within any special faxing district.
e. the benefits and burdens of any declaration and party wall agreements, i any. and
1. other_
13. PAYMENT OF ENCUMBRANCES. Any encumbrance required 10 be paid shall he paid al or before Closing from
the proceeds of this transaction or !iron any other sourer )�
14. CLOSING COSTS, DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds. (heir respective
('.losing costs and all other itcrns required to he paid at Closing. except as otherwise provided herein. 13tp'er and Seller shall sign
and complete all customary or reasonably required documents at or before Closing. Fees for real estate Closing services shall he
paid at (.'losing by X One -half by Buyer and One -half by Seller I}Ruyer- CB- SefeeS- Other=__
I7teateal- trarrsL tax t4- - 4ttoffhe Porehase -Wise- shall -Ire' paid -at wing 4ty - - Ooe-halFliy- Bnyerand -One-
hnB= by- Seller a- Bit)er-f3SeRer$041teF_
now- accrue - because of Ihi+- trausacnion - shall11epraid- whenalue-It -e -Buyer EtSeller;
15. PROBATIONS. the following shall he prorated to Closing Date (sx' 2c). except as otherwise
provided:
a. Taxes. Personal property taxes. if any. and general real estate taws for the year of Closing. based on Ill
Taxes -foe- the- 6alendnr rar-4mmedintely Preceding-Oa-sing X Most Recent Mill Levy and Most Recent Assessment
❑Other
b. Other Prorations. Water and sewer charges; interest on any continuing luau, and
c. Final Settlement. Unless otherwise agreed in writing, these prom inns shall be linal.
16. POSSESSION. Possession of the Properly shall be delivered to Buyer 011 Possession Date and
Possession Time (§ 2c). subject to the Hollowing leases or tenancies: None
Sell r after ('losing fails to deliver possession Is specified,
If , enfed, Seller shell be subject la es action and abaft he
additionally liable to Buyer for payment ofb e per day from the Possession Date 1§ 2c) until possession is delivered.
17. NOT ASSIGNABLE. Except, as...provided in Addendum I. Ibis cuntracl shall not be assignable by Buyer wUhout
Seller's prior written curse -nl. Except as so restricted- this contract 5111111 inure to the benefit of and he binding upon the heirs.
personal representatives, successors and assigns of the parties.
18. INSURANCE; CONDITION OE, DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided
in This contract. the Property. Inclusions or both shall be delivered in the condition existing as of the date of this contract,
ordinary vicar and tern excepted.
Casualty Insurance. In the event the Properly or Inclusions shall he damaged by lire or other casually p1101'
In ('losing, in an amount of not more than len percent of the total Purchase ('rice. Seller shall he obligated to repair the same
belbre the Closing Date (§ 2c). In the event such damage is not repaired within said time or if the damages exceed such sum, this
contract may be terminated at the option of Buyer by delivering to Seller written notice of termination. Should buyer elect to
CBS 3-7-04 CONTRACT TOI3U1 AND SELL REAL ESTATE (VACANT LAND FARM - RANCH) _
Page 7 0r9 Initials
carry out this contract despite such damage. Buys' shall he entitled to a credit, at Closing. for all the insurance proceeds resulting.
G `
front such damage In the Property and Inclusions payable to Seller but not the owners' association, if any, 1)1115 the 1000111 of any
deductible provided for in such insurance policy. such credit not to exceed the total Purchase Price.
h. Damage, Inclusions and Services. Should any Inclusion or service (including systems and components of
the Property. e.g. heating. plumbing. etc.) fail or be damaged between the dale of this contract and Closing or possession.
whichever shall be earlier, then Seller shall be liable ror 1110 repair or replacement or such Inclu5i011 01 service with a unit of
similar size, age and quality. or an equivalent credit. but only to the extent that the mainrtnamce or replacement of such Inclusion.
service or Iixure is not the responsibility of the owners' association. if alp. less any insurance proceeds received by Buyer
covering such repair 00 replacement. The risk of loss for any damage to growing crops, by lire or other casualty, shall be borne by
the party entitled lo the growing crops. if any, as provided in § 3 and such party shalt he entitled to such insurance proceeds or
0000111s R11 the growing el'ops, if any.
c. Walt: - Through and Verification of Condition. Buyer. upon reasonable notice. sha11 have the right to walk
through the 1'ropen) prior to Closing 10 verify that the physical condition of the Properly and Inclusions complies with this
contract.
19. RECOMMENDATION (W LEGAL AND 'FAX COUNSEL.. By signing this document Buyer and Seller
acknowledge Thal the respective broker has advised that this document has important legal consequences and has recommended
the examination of title and consultation with legal and tax or other counsel before signing this contract.
20. TIME OF ESSENCE, DE.FAIICF.ANI) REMEDIES. 11010 is of the essence hereof. If anv 11010 or check received as
Earnest Money hereunder or any other payment due hereunder is not paid. hummed or tendered %viten due. or it any other
obligation hereunder is not performed or waived as herein provided, there shall be the following remedies.
a. If Buyer is in Default:
❑ -- LT) Speeilie-- PerfwnnaneerSaller nr, y elo1l -Ito- Neal- til;z-- ueutraol as oineok'd- +e- whlvtu- r'ax4 -hN
pnvments -and- thing: <af- tiakre- reggae ^d- heretxWer+ltaR-be- forDittd -anti- retained -embehni of- Seller- end-.Se41er nays sae *tve+ -vteh
damage;'j: tow:- be- proper- or-Soldewtn'ty elect ha tram -tlrist -agtNtet -a.; being inli ll fur e- and -etige sad -Sel1er shall have-the-bight
ttyipec a3aeNOrtrtanue or dameeer'; -014ot ,
X (2) Liquidated Damages. All payments and things of value received hereunder ,shall he forfeited b)
Buyer and retained on behalf of Seller and both parties shall thereafter be released from all obligations htrcundcr. h is agreed that
such payments and things of value are LIQIBDAlED DAMAGES and (except as provided in subsection c) ore SELLER'S
SOLE AND ONLY REMEDY for Buyer's failure to perform the obligations of this contract. Seller expressly waives the
renwdies of specific performance and additional damages.
h. 11' Seller is in Default: Buyer may elect to treat This contract as canceled. in which case all pay1110111.5 and
thimas of val110 10001' etl hereunder shall be returned and Buyer may recover such Manages as may he proper. or Buyer may elect
to beau this contract as being in full force and effect and Buyer shall have the right to specific pm furmance or damages. or both.
e. Costs 111111 Expenses. In the event of any arbitration or litigation relating 10 this contract. 100 arbitrator or
court shall award to the prevailing parry all reasonable costs and expenses. including attorney and legal fees.
21. MEDIATION, Ira dispute arises relating to this contract. prior to or alter closing, and is not resolved. the parties shall
first proceed in good faith to submit the matte to mediation. Mediation is a process in which the parties meet with an imparllal
pe0500 who helps to resod ye the dispute informally and confidentially. Mediators cannot impose hi tidi rug decisions. 'Die parties to
the dispute must agree before any settlement is binding. The parries will jointly appoint an acceptable mediator and will share
equally in the cost of such nit dialion- l'h0 mediation, unless otherwise agreed. shall terminate in the event the col ire dispute is not
resolved within 30 calendar days of the date written notice requesting mediation is seal by 000 party 10 the other at the p; last
known address. This section shall not alter rap' date in this contract. unless otherwise agreed.
22. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money and things of value
(notwithstanding any termination of this contract or mutual written insiruclinns). Earnest Money holder shall not be required to
take any action. Barnes-1 Money 1 Colder may await any proceeding. or al its option and sole discretion. 10(0011 cad all patties and
deposit any money- or things of value into a own of competent jurisdiction and shall recover court costs and reasonable attorney
mid legal fees.
23. TERM INATION. In the creel this contract is terminated. all payments and things of value received hereunder shall be
retuned and the parties shall be relieved of all obligations hereunder. subject to $§ I0d, gland 22.
24. ADDITIONAL PROVISIONS. (The following additional provisions have 001 been approved by the Colorado Real
Estate Commission.)
See Addendum
CBS 3 -704 CONTRACT TO BUY AND Skit RI \I: ESTATE (VACANT LAND
Page 8 of 9 hdtials
/ O
25, ENTIRE AGREEMENT, MODIFICATION, SURVIVAL. This agreement constitutes the entire contract between the
parties relating In the subject hereof. and any prior agmemenIs pertaining thereto. whether oral or written. have been nrrgcd and
integrated into this contract, No subsequent modification of any or the IerI11S of this contract shall he valid, binding upon the
parties, or enlbrceable unless made in writing and signed by the parties. Any obligation in this contract that, 0) its terms, is
intended to he performed after termination or Closing shall survive the same.
26. NOTICE, DELIVERY AND CIIOICE OF LAW.
a. Physical Delivery. Except For the notice requesting mediation described in *21. and cseep1 as provided in §
260 below, all notices muss he in hailing. Any notice I0 Buyer shall he effective when recci vet( by 13uycr or by Selling
13n,kcrage 1h in. and 011) mnicc lu Seller shall he effective when received by Se11er or Listing Brokerage Firm,
b. Electronic Delivery. As an alter11011ve to physical delivery, any signed docu[1 en1 and v; riven notice may he
delivered in electronic lbnn by the following indicated methods. only: ❑ Facsimile f7 E -mail ❑ None. Documents w'lih
original signatures shall be provided upon request or any part.
c. Choice of Law. 'this contract and all disputes arising hereunder shall be governed by and construed in
accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in this state
for properly located in Colorado.
27. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal shall expire unless accepted in writing. by Huger
and Seller. as evidenced by their signatures below, and the offering pally receives notice of acceptance pursuant to § 26 on or
belbre Acceptance Deadline Date (§ 2e) and Acceptance Deadline Time (§ 70. 11' accepted, this document shall become a
con0acl between Seller and l3uycr. A copy of this doeunten1 may be executed by each party separately, and when each party has
executed a copy 1hereuf sueh copies taken together shall he deemed to he a Iidl and complete contract between die par ties .
Date' d // - Date:
G�C Ut/VA' iej
13uyer, u
George N -CTa
Pitkin County Board ol'County Commissioners '
• Address: 531) East Main St.. Aspen CO Address:
81611
Phone No. 920 -5203 Phone No.:
Fax No. 920 5198 j '1 y Fax No.:
Rceonnn1en((inF Approval 0y Pnikm County: I V " 7
;� ,t /I ,, 1 L. , r,'
Dale Will Director. pitkin County Open Spat t (rails' Ue vnenl
1NO 1 E: If this offer is being countered or rejected, do nut sign this docume 1. Rer to § 281
Den _.- _. -_ - - -- Dant -_- , 3 /° i ,
Seller ._. Seller /
u
Addac P O. Box 188 Address
Snnw11111SC, CO 816+54
Phone No.: 97(1- 948 -1728 Phone No,:
Fax No: (c /o Paul 'I'addonc) 970 - 9259199 Pax No.:
28, COUNTER; REJECTION. This offer is 0 Countered O Rejected.
[
CBS 3 -7 -04 CONTRACT TO BUY AND SELL REAL ESTATE (VACANT LANI') - FARM - RANCH)
Page 9 of 9 Initials
W r - \
Initial only of party (Buyer of Seller) who countered or rejected offer
END OF CONTRACT
Note: C losing Instructions arid Ernest Money Receipt sh>oW he signed on OE before Title Deadline ('+2,e1
/3
TO FARM AND RANCH CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN BOARD OF COUNTY
COMMISSIONERS OF PITKIN COUNTY, COLORADO AS BUYER AND WALTER SCHOELKOTF AS SELLER,
DATED 8 -10, 2010
"This Addendum is made a pan of 1Iui certain Contract to 13uy and Sell Real Estate dated 6-10. 2(110 ( "Contract ") hetween Pitkin
County Board of County Commissioners as buyer ( "Buyer) and Waiter Schoellkopf as seller ( "So)Ier"), with reSpeCI to proper') known as
Pitkin County Parcel Numbers 2467 - 301 -00 -005 of approximately 39.5 acres, and 2467- 304 -00 -006 of approximately 39.9 acres. lying un the •
north side or Gaul Sopris Creek Road in the Cuuntp or Pit kin ( "Property "). In the event of any enn0icl or inconsistence between the provisions
of this Addendum and the Contract. the provisions of this Addendum shall govern and control.
I SURVEY. On or held re the Off-Record Matters Deadline. Seller shall deliver to Buyer a current Survey of the ul'the properly certified by
licensed Cotoraeto surveyor Ibr the cypress benefit of Seller, Byer :Hid the Title Company, in form and content sufficient to cause the Stewart
Title Company to issue an endorsement to its title commitment agreeing to delete from Schedule 13 (Suction 2) of its to -he- issued title policy
standard printed exttplion Nos. 1, 2. and 3 at cost to Buyer. In the event the Survey discloses mutters which in the Buyer's opinion constitute
defects in the merchantability of Seller's title, Buyer must give Seller written notice of such unsatisfactory lisle condition( s) no Inter than the
Title Objection Deadline. If Buyer in fact gives such notice to Seller in a timely manner, the provisions of Paragraph 7d) of the Contract shall
apph thereto. If no such notice is timely given, buyer shall he deemed to have ■vaived any objections to matters shown 00 the Improvement
Survey.
2.S I ANDARI) SCHEDULE DULE 13 2 1 \ _ Seller shall furnish to the Burn at Buyer's expense an endorsement !n Slav art fide
Company In delete standard exceptions 1 -6 00 Schedule 13-2 of the Title Insurance ComMitment.
3 COIN I_Y,_r \I PP ROYAL Notwithstanding the signalure hereto by the Open Space Director recommending )4uyer'.s approval, the ohtigalion
of Buyer m perform hereunder is expressly conditioned upon the adoption by Buyer of an ordinance authorizing the sale of the Property to
Buyer pursuant to this Contract. In the event such ordinance i5 not duly adopted by Buyer on or before October 8, 2010 or any extension thereof
as the patties mat, in writing, agree, either Seller or Buyer may, upon written notice to the other, terminate This Contract whereupon tiuycr shall
he entitled In 0 prompt return of all Earnest Money paid. In the event such ordinance is timely adopted. Buyer shall, at the request of Seiler, N.:-
execute this Contract by the signature or the Chairman or Vice- Chnimian of the Pitkin County Board of County Commissioners.
4. AADM rioN nOCU M1iNTS. Al Closing, Seller shall execute and deliver such documents us shall be necessary to transfer and convey the
Properly to Buyer, the and clear 01 alt liens and encumbrances, all right. lisle and interest of Seller. except, as provided below. ;Diuyar-and
. ' Ala.. nkify- tnd-retaiwa- Translerab Pe clop temd(Ight ("TUR ") prior- le- elnsing:-aed.4t Bu cr agie '. le aetupt -Clio
Prcipo Hysubjeet4o-thes444.4+esarieth o- elated -ie- saki'i)R- -Seger nisu- xereess.& .provide- Nay -E;tget- m -s wd- 41- reeurdc.releied to the hi. ;uric
st reruns,- property- hislerv- aWJ{he4ike
5. INTEREST ERES[, ON EARNEST MONEY. Any and all monies paid by Buyer prior to closing shall he placed in an insured. interest hearing
money market-type account with a Incas enurmntercial hank with all interest thereon to attune for the benefit of l3over. Whether or not Buyer shall
ever he in 'delimit under this Contract resulting in 0 forfeiture of its earnest money. Buyer shell nevertheless he entitled to retain, as its sole and
separate property. all interest earned 00 Said ear es1 money
6. N4)f1('LS, Any 'lice. demand or document vc blch either party is required or may desire ua give_ deli der or nuke to the other party shall he
in writing and shall he personally delivered or given by facsimile transmission ur given by 1 lniled States certified mail. return receipt requested.
addressed as Ibl lon s:
To Buyer: Attn: Dale Will
Director. Pitkin County Open Space and Trails
530 East Main Street, 3' Floor
Aspen. CO 81611
Facsimile No.: (970) 920 -5198
With copy Inn John Ely. County Attorney
Pitkin County. Colorado
530 Gast Main Street
:aspen. ('081611
Facsimile No.: (97(1) 9205198
l o Seller: Waller 1 Schoellkopf
P.O. Box 188
Snowmass, (0 81654
Facsimile No.: (c/o Paul Taddune) (970) 92.5 -9199
�
With cups let: Paul J. "1"addune, Esq.
Paul 1. "faddune. P.0
323 West Main Street. Suite 301
Aspen. CO 8161 1
Facsimile No.: (970) 925 -9199
An notice. demand or document so given. dclivcretl or nude by United States mail shall be deemed to have been given three (3 1 dais alter the
stone is deposited in the United Stales mail as cenilied (natter. addressed as above provided. with postage thereon hdlg prepaid. Notice by
facsintilc u i ssion shall be deemed given upon receipt of a confirmation by sender and notice by personal delivery shalt he deemed gi ten
when received.
7 BROKER COMMI SS1ONS. Seller and Buyer represent to each other that no brokers are involved in this transaction. Each party shall
defend, indemnify and save the other parry harmless from and against any and all claims, suits, expenses. or attorney's Pees for any said real
estate connnissior, and brokerage charges caused by such party.
8 MISCH(.LANEOCIS.
(a) Saturday. Sunday or llol duv. If any 11010 period referred to in this Contract shall end on a Saturday. Sunday or legal holiday.
such time period shall aunnnuindly he extended to the firs) regular business day thereafter.
(h) Controlling Law. phis Contract shall be construed in accordance with and by the laws of the Stale 01 Colorado the
parties hereto agree and intend that the proper and exclusive forum for any litigation or any disputes or controversies arising out of or
related to this Contract shall be the District Court for 1'ilkin County, Colorado. for purposes of any litigation, the parties consent to
the ehoscn thrum Ibr purposes ofjurisd iclion and venue.
(e) Counterparts, This Contract (or any amendments. modifications or extensions hereof) may be executed in several counterparts alai
after esuculion and as esceuted, shall cnnslut,le an agreement binding 00 all of the parties. notwithstanding that all 01 the parties are not
signatories to the original or the snore counterpart.
(0) Further Assurances. Each of the parties agree to execute. acknowledge. deliver, file and record. or cause to be executed.
acknowledged. delivered. Mad and recorded such further instruments and documents and such certificates. and w du all things and
acts as the other party may reasonably require in order to carry out the intentions of this Contract and the transaction contemplated
hereby.
( e) Survival. All of the warranties and representations contained in this Contract of an ongoing nature or intemied to sun 1 shall
survive the actual closing of the transaction contemplated thereby.
l f) Cgns)ruciion. No provision of this Contract shall be construed against or interpreted to the disadvantage of any pail) by reason 0
such party having 00 beina deemed to have requested, drafted, required or structured such provision. II is the intention of the pad ies
t the parry who employed the Seri wrier to prepare this Contract not he prejudiced by virtue of such act. nor shall Iii IS C0111 end be
construed against such party by virtue of its actions in retaining the scrivener .
rg) At ornetis' Teas_. In the event of any action sin' breach of. 10 enforce the prow'shuts oC or otherwise involving this Contract. the court
in such action shall award a reasonable sum as attorneys' lees to the parry who. in light of the issues litigated and the court's decision
on those issues. was the prevailing party in the action. If a party voluntarily dismisses an action, a reasonable sum as attorneys' fees
sha11 be awarded to the other party.
I/
C'. \-word'Rti \Sehoel Ikopf.Cnntracl.clean.8.26.1 rl