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HomeMy WebLinkAboutpitkin.planning.273513200006, 273513200008DOCUMENT 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 copies (11x17) RECEPTION #: 584116, 11/0412011 at 11:20:54 AM, 1 OF 4, R $0.00 Doc Code ADMIN DECISION Janice K. Vos Caudill, Pitkin County, CO ADMINISTRATIVE DETERMINATION OF THE COMMUNITY DEVELOPMENT DIRECTOR OF PITKIN COUNTY, COLORADO, APPROVING THE LAZY W. CASTLE CREEK, LLC/PRESS SUBDIVISION EXEMPTION FOR A LOT LINE ADJUSTMENT Administrative Determination No.qi-2011 RECITALS 1. Lazy W. Castle Creek, LLC (formerly Waldbaum) and Shari and David Press (hereafter, "Applicants ") have applied to the Community Development Director of Pitkin County, Colorado, for a Subdivision Exemption for a Lot Line Adjustment to adjust lot lines of two adjoining parcels along Castle Creek. 2. The lots are located at 922 Castle Creek Road and 927 Castle Creek Road and are more specifically described in Exhibit A (Lazy W.); PID# 273513200008 and Exhibit B (Press); PID# 273513200006. 3. Both parcels are zoned AR -10 and are conforming in size. The lot line adjustment will leave each lot conforming in size. 4. The Director finds that the request is consistent with the applicable requirements of Sec. 2-30 - 20(g)(4) of the Land Use Code: the lot line adjustment will not create an additional parcel, increase floor area for either of the parcels, or create a parcel substantially different in size for development or resale purposes. THE DIRECTOR DOES HEREBY APPROVE the Lazy W./ Press Subdivision Exemption for a Lot Line Adjustment request subject to the following conditions: 1. Applicants shall adhere to all material representations made in the application. Within 90 days of this approval and prior to submission of any future building permits, the Applicants shall be required to submit for approval by the County Attorney and the Community Development Director for review and recordation, a lot line adjustment plat for the two properties consistent with the requirements of the Land Use Application Manual as outlined in Section 2.1.13. The above referenced approval shall be a condition precedent to finalization and recordation of the plat. The Mylar copy of the plat must be signed by the owners, mortgagees, and lien holders prior to submittal for recording. 3. 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 either or both of the properties, or vested rights associated with either or both of the properties. APPROVED by the Director, this A day of k)jJ. , 2011. 4 in y ouben, C Community Development Director P079 -11 PID #273513200006 and 273513200008 lancec /cases /Press_Lazy W_Iladet.docx Administrative Determination No. 027 -11 Page 2 of 3 \, r - L A Certification of Ownership Know all by these presents that LAZY W CASTLE CREEK, LLC being the owner of: 'WAUL8AUM PARCEL" before this First Amended Boundary Adjustment Plat That parcel of land known as the WALDBAUM PARCEL, according to the WALDBAUM AND PRESS BOUNDARY ADJUSTMENT PLAT, recorded August 13, 2003 in Plat Book 66 at Page 15, us Reception No. 486864 of the Pitkin County records, said parcel being situated within the Early Bird Lode, the Sepiolite Lode, Round Up Lode, and Sement Lode, U.S. Mineral Survey 6756, W1 /2, Section 13, Township 10 South, Range 85 West of the 6th P.M., Pitkin County, Colorado. C'f- �"t\�'ri+- e. i Certification of Ownershio Know all by these presents that David H. Press and Shari J. Press being the owners of.. "PRESS PARCEI" before this First Amended Boundary Adustment Plat That parcel of land known as the PRESS PARCEL, according to the WALDBAUM AND PRESS BOUNDARY ADJUSTMENT PLAT, recorded August 13, 2003 in Plat Book 66 at Page 15, as Reception No. 486864 of the Pitkin County records, said parcel being situated within the Early Bird Lade, the Sepiolite Lode, Round Up Lode, and Sement Lode, U.S. Mineral Survey 6756, W1/2, Section 13, Township 10 South, Range 85 West of the 6th P.M.. Pitkin County Colorado. LAW OFFICES OF PAUL J. TADDUNE, P.C. PAUL I. TADDUNL 323 WEST MAIN STREET, SUITE 301 ASPEN, COLORADO 81611 TELEPHONE (970) 9 25 -9190 TELEFAX (970) 925 -9199 INTERNET. taddune Fuservcxom October 4, 2011 Mr. Lance Clarke, Assistant Director Pitkin County Community Development Department 130 South Galena Street, Third Floor Aspen, Colorado 81611 Re: Lot Line Adjustment Request Lazy W. Castle Creek, LLC and Press Parcels Dear Lance: AFFIT.IATFD OFFICE FOWLER, SCI QA1RERG & FLANAGAN, P C. 1640 GRANT STREET, SUITE 300 DENVER, COLORADO 80203 TELFPTTONE (303) 298 -8603 TELEFAX (303) 298 -8748 Pitkin County OCT 0 4 2011 Community Dev`BI°Pmen Please accept this letter as an Application on behalf of Lazy W. Castle Creek, LLC, owner of a parcel of 14.7154 acres, and David and Shari Press, owners of an approximate 19.4791 acre adjacent parcel, located to the east of Castle Creek Road for subdivision exemption for a lot line adjustment pursuant to Section 2- 30- 20(g)(4) of the Pitkin County Land Use Code. The purpose for this application is to clarify and readjust the common boundary of the two parcels due to the manner in which the homes are constructed on the parcels. The lot line adjustment is sought as a means of simplifying the boundary for prospective purchasers. The two parcels are accessed from Castle Creek Road by way of an existing driveway which serves both parcels. The access follows the driveway down to an existing bridge across Castle Creek and crosses the creek to the two parcels which are both located on the east side of the creek. Enclosed is a check payable to the Pitkin County Treasurer in the amount of $1,273.00 and the following enclosures: Vicinity Map; 2. A 24" by 36" "draft" Subdivision Exemption Plat as designated in Section 2.1.13 of the Pitkin County Land Use Code; Proforma Title Reports for both properties issued by Pitkin County Title, Inc. demonstrating ownership of the subject properties. The real property descriptions are included in these reports; 00000" (OT 50� Mr. Lance Clarke October 4, 2011 Page 2 4. Signed fee agreement; 5. Consent from the owners to process the applications and authorizing me to serve as representative; and 6. Copy of the Pre - Application Conference Summary. Summary of Previous Land Use Approvals In 1985, the County Planning and Zoning Commission granted 1041 Hazard Review approval for the Waulbaum Parcel now owned by Lazy W. Castle Creek, LLC as reflected by the Administrative Decision No. 31 -2002 (Enclosure "7 ") and the 1041 Hazard Review Site Plan recorded in Plat Book 62 at Pages 35 and 36 (Enclosure "8 "). In 1989, the Board of County Commissioners granted 1041 Hazard Review and Employee Dwelling Unit approval for the Press Parcel, as reflected by BOCC Resolution 89 -24 (Enclosure "9 ") and the 1041 Hazard Review Site Plan recorded in Plat Book 22 at Page 47 (Enclosure "10 "). In 2003 the Waldbaum and Press Boundary Adjustment Plat was approved by the Pitkin County Development Department under Administrative Declaration No. 09 -2003 recorded as Reception No. 479478, which was recorded on August 13, 2003 in Plat Book 66 at Page 15 as Reception No. 486864 (Enclosure "11 "). An amended 1041 Hazard Review Site Plan for a portion of the Waldbaum Parcel was recorded on April 13, 2006 in Book 78 at Page 65 as Reception No. 522914 (Enclosure "12 "). A second amended Lazy W. Castle Creek, LLC activity envelope plan was recorded on January 12, 2009 as Reception No. 555619 (Enclosure "13 "). Standards for Design Section 2- 30- 20(8)(4), Pitkin County Land Use Code The proposed lot line adjustments meet the following criteria of Section 2- 30- 20(g)(4) of the Land Use Code: (a) The adjustment will not create more than the original number of lots or parcels: The two parcels currently exist. Granting the application will merely result in a readjustment of the common lot line between the two parcels as a means of better defining the two properties. (b) The purpose or effect of the lot line adjustment is not the creation of a new lot or parcel, not- any increase in floor area ratio for a parcel which gains size, nor creation of a lot or parcel substantially different in size for development or resale purposes: The purpose of the proposed lot line adjustment will not create a new lot or parcel, nor increase the allowable floor area ratio (17 Mr. Lance Clarke October 4, 2011 Page 3 of either parcel, nor increase the amount of land available for development. Both lots are developed with single family homes. (c) The resulting lots or parcels will conform to the minimum requirements for area or width established by the provisions of the Code: Both parcels will still conform to the minimum requirements for area and width established by the provisions of the Land Use Code. (d) Subsection (d) regarding substandard size lots or parcels is not applicable. (e) The applicant shall prepare a subdivision exempt lot line adjustment plat in compliance with the standards in the Pitkin County Land Use Application Manual: A lot line adjustment plat prepared by Schmueser Gordon Meyer is being submitted as Enclosure 2. (f) An application for a minor plat amendment consistent with the proposed lot line adjustment shall be submitted and reviewed concurrently with the application for lot line adjustment. To the extent required, please also consider this an application for a minor plat amendment. We assume this letter and the enclosures satisfactorily address the matters set forth in your Pre - Application Conference Summary dated June 27, 2011. Please let me know if you need any additional information or clarification. Thank you in advance for your assistance in this matter. Very truly yours, PAUL J. TADDUNE, P.C. Paul J. Taddune PJT:nwe cc: David and Shari Press Lazy W. Castle Creek, LLC ,: -A-03 FLI INK PROFORMA TITLE REPORT SCHEDULE A 1. Effective Date: August 16, 2011 at 8:00 AM Case No. PCT23260P 2. Policy or Policies to be issued: Proposed Insured: PROFORMA 3. Title to the FEE SIMPLE estate or interest in the land described or referred to in this Commitment is at the effective date hereof vested in: DAVID H. PRESS and SHARI J. PRESS 4. The land referred to in this Commitment is situated in the Countyof PITKIN State of COLORADO and is described as follows: PRESS PARCEL, according to the WALDBAUM AND PRESS BOUNDARY ADJUSTMENT PLAT, recorded August 13, 2003 in Plat Book 66 at Page 15, as Reception No. 486864. PITKIN COUNTY TITLE, INC. 601 E. HOPKINS, ASPEN, CO. 81611 970. 925 -1766 Phone /970 -925 -6527 Far 877- 217 -3158 Toll Free AUTHORIZED AGENT Countersigned: SCHEDULE B - SECTION 1 REQUIREMENTS THIS REPORT IS FURNISHED FOR INFORMATIONAL PURPOSES ONLY, IT IS NOTACONTRACTTOISSUETITLE INSURANCE AND SHALL NOT BE CONSTRUED AS SUCH. IN THE EVENT A PROPOSED INSURED IS NAMED THE COMPANY HEREBY RESERVES THE RIGHT TO MAKE ADDITIONAL REQU IREMENTS AND /OR EXCEPTIONS AS DEEMED NECESSARY. THE RECIPIENT OF THIS INFORMATIONAL REPORT HEREBY AGREES THAT THE COMPANY HAS ISSUED THIS REPORT BY THEIR REQUEST AND ALTHOUGH WE BELIEVE ALL INFORMATION CONTAINED HEREIN IS ACCURATE AND CORRECT, THE COMPANY SHALL NOT BE CHARGED WITH ANY FINANCIAL LIABILITY SHOULD THAT PROVE TO BE INCORRECT AND THE COMPANY IS NOT OBLIGATED TO ISSUE ANY POLICIES OF TITLE INSURANCE f '107 SCHEDULE B SECTION 2 EXCEPTIONS The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes due and payable; and any tax, special assessment, charge or lien imposed for water or sewer service or for any other special taxing district. 7. The premises hereby granted, with the exception of the surface, may be entered by the proprietor of any other vein, lode or ledge, the top or apex of which lies outside of the boundary of said granted premises, should the same in its dip be found to penetrate, intersect, or extend into said premises, for the purpose of extracting and removing the ore from such other vein, lode or ledge as reserved in United States Patent recorded August 24, 1892 in Book 39 at Page 97. 8. Easement granted unto Mountain States Telephone and Telegraph Company as set forth in instrument recorded in Book 336 at Page 54. 9. Terms, conditions, obligations and provisions of Decree Confirming Partition as set forth in instrument recorded February 21, 1979 in Book 363 at Page 646. 10. Terms, conditions, obligations and provisions of Well Agreement as set forth in instrument recorded February 21, 1979 in Book 389 at Page 225. 11. Terms, conditions, obligations and provisions of Easement Agreement as set forth in instrument recorded February 3, 1981 in Book 403 at Page 619. 12. Terms, conditions, obligations and provisions of Agreement as set forth in instrument recorded February 3, 1981 in Book 403 at Page 625. 13. Easement and right of way for an electric transmission or distribution line or system, as granted to Holy Cross Electric Association, Inc., in instrument recorded September 23, 1982 in Book 433 at Page 64. 14. Grant of Easement as set forth in instrument recorded October 4, 1982 in Book 433 at Page 515, as it affects subject property. 15. Terms, conditions, provisions, obligations and all matters as set forth in Resolution of the Board of County Commissioners recorded April 4, 1989 in Book 589 at Page 287 as Resolution No. 89 -24. (Continued) ,_ nn,� SCHEDULE B SECTION 2 EXCEPTIONS - (Continued) 16. Easements, rights of way and all matters as disclosed on 1041 Hazard Review Plat of subject property recorded May 3, 1989 in Plat Book 22 at Page 47 as Reception No. 311187. 17. Encroachments as shown on Survey prepared by Aspen Survey Engineers, Inc. as Job No. 8090, Updated March 27, 1992. 18. Terms, conditions, provisions, obligations and all matters as set forth in Administrative Decision of the Community Development Director of Pitkin County recorded March 3, 2003 as Reception No. 479478 as Administrative Decision No. 09. 19. Easement and right of way for trail easement as set forth in Public Trail Easement Agreement recorded August 12, 2003 as Reception No. 486832 and re- recorded May 30, 2007 as Reception No. 538350. 20. Easement and right of way for access as set forth in Access and Utility Easement Agreement recorded August 13, 2003 as Reception No. 486834. 21. Easements, rights of way and all matters as disclosed on the Waldbaum and Press Boundary Adjustment Plat recorded August 13, 2003 in Plat Book 66 at 15 as Reception No. 486864. 22. Terms, conditions, provisions and obligations as set forth in Public Trail Easement Agreement recorded January 11, 2007 as Reception No. 533282 and re- recorded May 30, 2007 as Reception No. 538349. 23. Terms, conditions, provisions, obligations and all matters as set forth in Ordinance No. 008 -07, Series of 2007 by the Board of County Commissioners of Pitkin County, Colorado recorded May 30, 2007 as Reception No. 538348. 24. Terms, conditions, provisions and obligations as set forth in Administrative Decision of the Community Development Direction of Pitkin County, Colorado as Administrative Decision No. 97 -2008 recorded October 2, 2008 as Reception No. 553316. 25. Terms, conditions, provisions and obligations as set forth in Administrative Decision of the Community Development Direction of Pitkin County, Colorado as Administrative Decision No. 116 -2008 recorded December 16, 2008 as Reception No. 555066. 26. Deed of Trust from: DAVID H. PRESS and SHARI J. PRESS To the Public Trustee of the County of Pitkin For the use of : RBC MORTGAGE COMPANY, AN ILLINOIS CORPORATION Original Amount $ 1,000,000.00 Dated : February 23, 2004 Recorded March 3, 2004: Reception No. 495150 Re- recorded : February 17, 2005: Reception No. 507166 0000 q PROFORMA TITLE REPORT SCHEDULE A 1. Effective Date: August 2, 2011 at 8:00 AM Case No. PCT23250P 2. Policy or Policies to be issued: Proposed Insured: PROFORMA 3. Title to the FEE SIMPLE estate or interest in the land described or referred to in this Commitment is at the effective date hereof vested in: LAZY W CASTLE CREEK, LLC 4. The land referred to in this Commitment is situated in the County of PITKIN State of COLORADO and is described as follows: WALDBAUM PARCEL, according to the WALDBAUM AND PRESS BOUNDARY ADJUSTMENT PLAT recorded August 13, 2003 in Plat Book 66 at Page 15 as Reception No. 486864. PITKIN COUNTY TITLE, INC. 601 E. HOPKINS, ASPEN, CO. 81611 970 - 925 -1766 Phonel970- 925 -6527 Fax 877 - 217 -3158 Toll Free Ipp11:r01.1I47HtB1A0k1 Countersigned: r! (1 010 SCHEDULE B - SECTION 1 REQUIREMENTS THIS REPORT IS FURNISHED FOR INFORMATIONAL PURPOSES ONLY, IT IS NOT A CONTRACT TO ISSUE TITLE INSURANCE AND SHALL NOT BE CONSTRUED AS SUCH. IN THE EVENT A PROPOSED INSURED IS NAMED THE COMPANY HEREBY RESERVES THE RIGHT TO MAKE ADDITIONAL REQUIREMENTS AND /OR EXCEPTIONS AS DEEMED NECESSARY. THE RECIPIENT OF THIS INFORMATIONAL REPORT HEREBY AGREES THAT THE COMPANY HAS ISSUED THIS REPORT BY THEIR REQUEST AND ALTHOUGH WE BELIEVE ALL INFORMATION CONTAINED HEREIN IS ACCURATE AND CORRECT, THE COMPANY SHALL NOT BE CHARGED WITH ANY FINANCIAL LIABILITY SHOULD THAT PROVE TO BE INCORRECT AND THE COMPANY IS NOT OBLIGATED TO ISSUE ANY POLICIES OF TITLE INSURANCE 11 1 "nn 1 1 _. SCHEDULE B SECTION 2 EXCEPTIONS The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes due and payable; and any tax, special assessment, charge or lien imposed for water or sewer service or for any other special taxing district. 7. The premises hereby granted, with the exception of the surface, may be entered by the proprietor of any other vein, lode or ledge, the top or apex of which lies outside of the boundary of said granted premises, should the same in its dip be found to penetrate, intersect, or extend into said premises, for the purpose of extracting and removing the ore from such other vein, lode or ledge as reserved in United States Patent recorded August 24, 1892 in Book 39 at Page 97. 8. Easement granted unto Mountain States Telephone and Telegraph Company as set forth in instrument recorded in Book 336 at Page 54. 9. Terms, conditions, obligations and provisions of Decree Confirming Partition as set forth in instrument recorded February 21, 1979 in Book 363 at Page 646. 10. Terms, conditions, obligations and provisions of Well Agreement as set forth in instrument recorded February 21, 1979 in Book 389 at Page 225. 11. Terms, conditions, obligations and provisions of Easement Agreement as set forth in instrument recorded February 3, 1981 in Book 403 at Page 619. 12. Terms, conditions, obligations and provisions of Agreement as set forth in instrument recorded February 3, 1981 in Book 403 at Page 625. 13. Terms, conditions, provisions and obligations as set forth in Settlement Agreement recorded in Book 479 at Page 340. 14. Terms, conditions, provisions, obligations and all matters as set forth in Resolution of the Board of County Commissioners recorded in Book 482 at Page 309 and re- recorded in Book 488 at Page 738. 15. Terms, conditions, provisions, obligations and all matters as set forth in Resolution of the Pitkin County Planning and Zoning Commission recorded in Book 482 at Page 977. (Continued) f" ,ll1 SCHEDULE B SECTION 2 EXCEPTIONS - (Continued) 16. Terms, conditions, provisions, obligations and all matters as set forth in Resolution of the Board of County Commissioners recorded April 26, 2002 as Reception No. 466764 as Resolution No. 02 -06. 17. Terms, conditions, provisions and obligations as set forth in Administrative Decision recorded July 30, 2002 as Reception No. 470388 and Administrative Decision recorded March 3, 2003 as Reception No. 479478. 18. Easements, rights of way and all matters as disclosed on Plat of Waldbaum and Press Boundary Adjustment Plat recorded August 13, 2003 in Plat Book 66 at Page 15. 19. Terms, conditions, provisions and obligations as set forth in Public Trail Easement recorded August 12, 2003 as Reception No. 486832 and re- recorded May 30, 2007 as Reception No. 538350. 20. Terms, conditions, provisions and obligations as set forth in Easement recorded August 13, 2003 as Reception No. 486834. 21. Terms, conditions, provisions and obligations as set forth in Public Trail Easement Agreement recorded January 11, 2007 as Reception No. 533282 and re- recorded May 30, 2007 as Reception No. 538349. 22. Terms, conditions, provisions and obligations as set forth in Determination of the Hearing Officer of the Community Development Department of Pitkin County, Colorado as Determination No. 37 -2005 recorded December 2, 2005 as Reception No. 518024. 23. Terms, conditions, provisions, obligations and all matters as set forth in Ordinance No. 008 -07, Series of 2007 by the Board of County Commissioners of Pitkin County, Colorado recorded May 30, 2007 as Reception No. 538348. 24. Terms, conditions, provisions and obligations as set forth in Administrative Decision of the Community Development Direction of Pitkin County, Colorado as Administrative Decision No. 97 -2008 recorded October 2, 2008 as Reception No. 553316. 25. Easements, rights of way and all matters as disclosed on Amended Lazy W Castle Creek LLC Activity Envelope Plan of subject property recorded November 12, 2008 in Plat Book 89 at Page 6 and Second Amended thereto recorded January 12, 2009 in Plat Book 90 at Page 13. 26. Terms, conditions, provisions and obligations as set forth in Administrative Decision of the Community Development Direction of Pitkin County, Colorado as Administrative Decision No. 116 -2008 recorded December 16, 2008 as Reception No. 555066. 27. Deed of Trust from: LAZY W CASTLE CREEK, LLC To the Public Trustee of the County of PITKIN For the use of : COUNTRYWIDE BANK, FSB Original Amount :$2,942,312.00 Dated September 13, 2007 Recorded : September 26, 2007 Reception No. :542469 (Continued) fir-(inI SCHEDULE B SECTION 2 EXCEPTIONS - (Continued) Modification Agreement changing various terms of the Deed of Trust above was recorded November 9, 2009 as Reception No. 564383. WIP-1J A, y PITKIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT AGREEMENT FOR PAYMENT OF LAND USE APPLICATION FEES PITKIN COUNTY (hereinafter "COUNTY") r and _ __Laz_�J_C.ast_l_e__Cr_eek., -_S LC_ (hereinafter AGREE AS FOLLOWS: APPLICANT has submitted to COUNTY an application for Lot Line Ad (hereinafter, the "PROJECT "). 2. APPLICANT understands and agrees that Pitkin Count) Ordinance No. 030-2009 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. 'file fee structure is based on the COUNTY'S policy that development shall pay. in full. the cost of development rev iety 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 tees charged for the processing of land use applications shall accumulate if an application includes more than one h pc of land use rcviecs. 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 appro%al. unless current billings are paid in full prior to decision. 6. Therefore. APPLICANT agrees that in consideration of the COUNTY'S wailer of its right to collect full fees prior to a determination of application completeness, APPLICANT shall pay a base tec 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 payntenrs shall be made within 30 days of the billing date, APPLICANT further agrees that failure to pag such accrued costs shall he grounds for suspension of processing. PITKIN COUNTY L azy W Castle Creek, LLC (` APPLICANT ") By: =nom "c� Cindy Houben Community Development Director Stewart F. Kristal, mgr Print Name and Title (if applicable) Mailing Address: 4450 F_,. Cartel barr Rd. #23 attn . Stewart Kr istal Phoenix, A7 8501 �i, tjn1b David and Shari Press 0927 Castle Creek Road P.O. Box Q Aspen, Colorado 81612 Telephone: 970 - 925 -4876 Facsimile: 970 - 925 -5448 E -mail: dhpress @yahoo.com September 9, 2011 Mr Lance Clarke, Assistant Director Pitkin County Community Development Department 130 South Galena Street Aspen, Colorado 81611 RE: Lot Line Adjustment Request Lazy W. Castle Creek, LLC and Press Parcels Dear Mr. Clarke: We are writing to confirm that we are the owners of a parcel of approtimately 19.4791 acres in the Castle Creek valley ( Pitkin County Assessor's Parcel No 273513200006). The parcel is within the AFR -10 zone district. Our property is contiguous to a parcel owned by Lazy W. Castle Creek, LLC. We have reached an agreement with Lazy W Castle Creek, LLC regarding a lot line adjustment between our two parcels as described in the attached lot line adjustment application prepared by Paul J. Taddune, subject to County approval of the adjustment and to conditions of approval which are satisfactory to us. Our letter is to confirm that we are consenting to the filing of the attached land -use application for lot line adjustment for review by the County. During the review of this application, Paul Taddune and /or David Press will appear on our behalf if it is necessary. If you need additional information, please feel free to call us at the telephone number above or Paul Taddune at 925 -9190 Sincere] , David H. Press, Owner t�L�ihn� Shari J. Press / caner onon16 Lazy W. Castle Creek, LLC 4444 East Camelback Road, Unit #23 Phoenix, AZ 85018 Telephone: (602) 840 -0563 E -mail: sfkristal @me.com September 15, 2011 Mr. Lance Clarke, Assistant Director Pitkin County Community Development Department 130 South Galena Street Aspen, Colorado 81611 RE: Lot Line Adjustment Request Lazy W. Castle Creek, LLC and Press Parcels Dear Mr. Clarke: I am writing to confirm that Lazy W. Castle Creek, LLC is the record owner of a parcel approximately 14.71 acres in the Castle Creek valley ( Pitkin County Assessor's Parcel No. 273513200008). The parcel is currently within the AFR -10 zone district. Lazy W. Castle Creek, LLC has reached an agreement with David and Shari Press regarding a lot line adjustment as described in the attached lot line adjustment application prepared by Paul J. Taddune, subject to County approval of the adjustment and to conditions of approval which are satisfactory to the parties This letter is to confirm that Lazy W. Castle Creek, LLC consents to the filing of the attached land -use application for lot line adjustment review. During the review of this application, Paul Taddune is authorized to appear on behalf of Lazy W. Castle Creek, LLC. If you need additional information, please feel free to call Paul Taddune at 925 -9190. Sincerely, LAZY W. CASTLE CREEK, LLC By: Stewart F. Kristal, Manage PITKIN COUNTY PRE - APPLICATION CONFERENCE SUMMARY PLANNER: Lance Clarke PHONE: 970- 920 -5452 E -MAIL: lancecgco.]pitkin.co.us LOCATION: Castle Creek Road as REPRESENTATIVES: Paul Taddune DATE: 6/27/11 ZONE: AR -10 PARCEL ID Ws: 273513200006 (Press) 273513200008 (Waldbaum) APPLICANTS /OWNERS: David and Shari Press PHONE: 925 -9190 Lary W Castle Creek LLC E -MAIL: TADDUNE@compuserve.com (Waldbaum) Type of Application: Subdivision Exemption for a Lot Line Adjustment. Description of Project/Development: Applicants propose to adjust lot lines for two adjacent parcels Pitkin County Land Use Code: • Sec. 2- 30- 20(g)4: Lot Line Adjustment; Review By: Community Development Director. Public Hearing? NO. Staff Will Refer Application To: Zoning, Maroon/Castle Caucus lD FEES: $1,273 (make check payable to " Pitkin County Treasurer ") Planning Office flat fee: $1248; Web Tech fee: $25 (non - refundable; based on 4 hours of staff time; if staff review time exceeds 4.8 hours, the Applicant will be charged for additional time above 4 hours at a rate of $312/hour) To apply, submit the Fee specified above and 2 onies of each of the following documents, unless otherwise noted: 1. Summary letter explaining the request and addressing compliance with the Code sections listed above; 2. 24" by 36" draft Subdivision Exemption Plat as designated in Section 2.1.13 of the Pitkin County Land Use Application Manual; 3. Proof of ownership of subject properties; 4. Summary of previous land use approvals; 5. Parcel descriptions, including legal description and vicinity map; 6. Total fee for review of the application; 7. Signed fee agreement (1 copy); 8. Consent from owner(s) to process application and authorizing the representative, if applicable (I copy); 9. Copy of this preapp form (1 copy) NOTES ➢ PLEASE SUBMIT ONE UNBOUND AND ONE -SIDED COPY OF YOUR COMPLETE APPLICATION. PLEASE SUBMIT TWO -SIDED COPIES OF ALL REMAINING COPIES OF YOUR APPLICATION (IF POSSIBLE). PARCEL ID MUSTAPPEAR ONALL DOCUMENTS INCLUDED IN YOUR APPLICATION. ➢ The Pitkin County Land Use Code is available on -line at tivitiv.aspenpitkin.com This Pre - Application Conference Summary Sheet is advisory in nature and not binding on the County. The information provided in this Summary Sheet is based on current zoning standards and the staff's interpretations based upon '�,Pn18 representations of the applicant. Additional information may be required upon a complete review of the application and site visit(s). Of 111019 ADMINISTRATIVE DECISION OF THE COMMUNITY DEVELOPMENT DIRECTOR OF PITEIN COUNTY, COLORADO, GRANTING APPROVAL TO LEONARD WALDBAUM FOR A MINOR AMENDMENT TO A DEVELOPMENT PERMIT Administrative Decision No.1- 2002 RECITALS 1. Leonard Waldbaum (Applicant) has applied to the Community Development Director of Pitkin County, Colorado, (Director) to update the approval granted to the property pursuant to Resolution 854. 2. The property is located approximately a 1 /10 of a mile before (to the north) of the tun -off to the MAA campus, The parcel is located between two parcels of land developed with existing singlo family residences. The property is more specifically described in the attached Exhibit "A." 3. The Planning and Zoning Commission granted 1041 Special Review approval to the subject property pursuant to Resolution No. 85 -4 recorded in Book 482, Pages 977 to 983 (Roundup Lodge Claim). 4. The Applicant has received a 7 -foot side yard setback variance from the Board of Adjustment. 5. The Director finds the request is consistent with the requirements of Section 3.200 -080 of the Land Use Code. NOW, THEREFORE, BE IT DETERMINED by the Pitkin County Community Development Director that approval is hereby granted to the Waldbaum Minor Amendment to a Development Permit, subject to the following conditions which shall run with the land and be binding on all successors in interest: 1. The Applicant shall comply with the provisions of Resolution No. 85 -4 (Exhibit B) unless otherwise replaced or amended by the conditions of this approval. 2. Prior to the submittal of a building permit, the Applicant shall record a 24 x 36 inch mylar 1041 Hazard Review Site Plan in accordance to Section 5 -70 -040 of the Land Use Code. The site plan shall also be submitted in a digital format for integration into the County Geographic Information System (GIS). Wildfire mitigation shall be as follows: A. Defensible Space: 1. The area around all structures shall incorporate landscaping with wildfire defensible space considerations as follows (NOTE: Actual vegetation manipulation to meet these conditions may not be necessary where the natural vegetation patterns have already fulfilled these conditions): a. For a distance of 50 to 70 feet around all structures existing conifers shall be thinned so that the crowns are no closer than 10 feet apart measured from the outermost branch. Remove the lower limbs to eliminate ladder fuels. This shall be done to height of 10 feet or half the total height of the tree whichever t.l. �:QU IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�IIIIIII�IIIIIIIIII 490388 01:asa SILVIA DAVIS PITKIN COUNTY CO R 0.00 0 oleo Administrative Decision � - 2002 Page 2 is least. Ladder fuels are defined as vegetative material (i.e. branches) with vertical continuity that allow fires to bum from ground level up into branches and crowns of trees. This should be done to all conifers within the defensible space perimeter. b. Remove all deadfall within 100 feet of the structures. c. The Applicant shall be responsible for the continued maintenance of the defensible space vegetation requirements. B. Structural Design and Construction Requirements: 1. Roofs shall have a non- combustible roof covering on a Class A assembly. Wood shake/shingle roof covering are prohibited in all wildfire hazard areas. Roofs with less than 3:12 pitch are not permitted in 1041 Wildfire Areas unless they comply with the following: a. All roof coverings shall be non - combustible materials as defined in the Uniform Building Code (UBC) 1997 Section 1504 and installed on a Class A roof assembly. b. All roof coverings shall have a surface that shall facilitate the natural process of clearing the roof. c. All roof design shall facilitate the natural process of clearing roof debris. Protrusions above the roofline, such as parapets, shall be prohibited d. Roofs shall be installed as required by UBC 1997 Chapter 15 and shall have a minimum slope of 1:48. e. All roof designs, coverings, or equivalent assemblies shall be specifically approved by the Fire Marshall prior to submittal of a building permit application. 2. All vents shall be screened with corrosive resistant wire mesh of one quarter inch maximum. C. Maintenance: 1. Roofs and gutters shall be kept clear of debris. 2. Yards shall be kept clear of all litter, slash, and flammable debris. 3. All flammable materials (including firewood/wood piles) shall be stored on a parallel contour a minimum of 15 feet away from any structure. Firewood/wood piles shall be stacked on a parallel contour a minimum of 15 feet away from all structures. i IIIIII VIII IIIIII VIII VIII IIIIII VIII III IIIIIIIII IIII 4 9 e38s 01:39P iir2l SILVIA DAVIS PITKIN COUNTY CO R 0.00 D 0.00 [l,l Administrative Decision - 2002 Page 3 ""`tTt"' D. Miscellaneous: 1. Fences shall be kept clear of brush and debris. 2. Wood fences shall not be connected to the structure. 3. Fuel tanks shall be installed underground with an approved container. 4. Each structure shall have a minimum of one 10 lb. ABC fire extinguisher. 5. Addresses shall be clearly marked and visible with minimum 2" noncombustible letters and shall be clearly visible at the primary point of access from the public or common access road and installed on a non- combustible post. 6. Any outbuildings or additional buildings shalladhere to the same standards as structures. E. Utilities: 1. Utility lines shall be buried. 4. No development, including grading, excavation, fill placement, berming, landscaping, ornamental entry or ranch gates, construction parking or staging and vegetation removal or disturbance shall occur outside of the approved building envelope unless otherwise specified in this document, such as necessary wildfire mitigation and the installation of the driveway. 5. All areas disturbed by construction shall be revegetated with native shrubs and grasses to limit water consumption and additional runoff within one growing season of the project's completion. Landscaping and revegetation on the property shall utilize low water (xeriscaping) native plant materials and concepts. 6. The Applicant shall comply with the following wildlife mitigation: A. All waste storage shall comply with Wildlife Protection Ordinance No. 010 -2001. Prior to Certificate of Occupancy, compliance with the ordinance shall be verified. B. Native vegetation shall be preserved outside of the building envelope, with the exception of any thinning and spacing required to accommodate wildfire mitigation. C. Disturbance of any riparian vegetation for the installation of the driveway shall require a professional mitigation plan, pursuant to section 3- 80- 080(A)(4) of the Land Use Code, to be submitted and approved by the County prior to the issuance of an Access/Driveway Permit and shall be installed within one year following disturbance. The mitigation plan shall include elements outlined in item 6 of Jonathan Lowsky's comments dated June 21, 2002 and must substitute (in a nearby area on the subject property) vegetation equal in type and quantity to that being removed to mitigate effects on wildlife species. IIIIIIIVIIIIIIIIIVIIIVIIIIIIIIIIIIIIIIIVIIIIIIIIIII 400386 01 :39P SILVIA DAVIS PITKIN COUNTY 00 R 0.00 0 0.00 f'! 10022 Administrative Decision - 2002 Page 4 D. Only plant species that are identified by the Pitkin County Revegetation Guide as being appropriate for wetland or riparian areas, or native species found to occur on site but not listed in the Pitkin County Revegetation Guide, may be introduced into or used for revegetation of any wetland or riparian areas. The planting or introduction of any other plant species should be prohibited. E. Fruit - bearing trees and shrubs should be avoided in any landscaping due to the high level of black bear activity in the area. F. Wood fencing shall employ three rails or less, be the round or split rail type, shall not exceed 48 inches in height above ground level and 12 inches in width (top view), and shall have at least 18 inches between two of the rails. Wire fencing shall consist of no more than 3 strands of smooth wire and shall not exceed 42 inches in height. G. Tall, overly mature trees and standing dead trees should be retained whenever possible outside of the defensible space requirements. H. No construction activity shall occur between November 30 and April 1. However, during the first construction year, an exception to this restriction shall be allowed in accordance with Naturetech Consultant Services Corp. recommendation dated July 24, 2002. 7. The Applicant shall be allowed to temporarily excavate outside of the designated Building Envelope designated on the 1041 Hazard Review Site Plan described in Paragraph 2 of the conditions hereinabove provided that the excavation is for the sole purpose and is the minimum excavation necessary in order to install a spread footing for the exterior walls of the structure and provided that the excavation is backfilled to natural grade and revegetated within one growing season from the date of excavation 8. The Applicant shall submit a Drainage and Erosion Control Plan to the County Engineer for review and approval, prior to the submittal for any building permits. The plan shall address the management of runoff during construction and after construction is complete. 9. At the time of building permit application submittal for any new development the Applicant shall submit, for review and approval by the County Engineer, a Construction Management Plan inaccordance with the Asset Management Plan. The Construction Management Plan shall indicate that vehicles associated with construction (i.e. employee traffic, construction vehicles, staging and deliveries) shall not violate County Law, such as parking on County rights -of -way. 10. Prior to the submittal of anybuilding permits, the Applicant shall obtain an Access/Driveway Development Permit approved by the County Engineer. 11. A fireplace/woodstove application must be filed and approved by the Community Development Department prior to the issuance of a building permit. 12. All lighting shall comply with the regulations of the hand Use Code. 13. All development must comply with the provisions of the Pitkin County Noxious Weed Management Plan. IIIIIIIIIIIIIIIIIIIIIIIVIIIIIIIIIIIIIIIIIVIIIIINIII 1 87/30/2002 0SS SILVIA DAVIS PITKIN COUNTY CO R 0. 81:39P 0 0.00 fh'10023 Administrative Decision 72 ,L-2002 Page 5 14. Pursuant to Ordinance No. 022 -2000, the Applicant is subject to the Fair Share Requirements and shall pay a road impact fee as calculated at the time of building permit issuance for any new development or expansion of the existing residence or accessory structures. 15. Floor area shall be limited to 5,750 square feet exempt from growth management. 16. The Applicant shall comply with the avalanche mitigation measures outlined in Art Mears reports dared March 15, 2002 and February 10, 1998. 17. All material representations made by the Applicant in the application shall be adhered to and considered conditions of approval unless amended by other conditions. APPROVED ON THEJ,&t,OF JULY, 2002. � ci( Cindy ouben, Community Development Director Case # P085 -02 273513200008 Iiillll� DAVIS III f IIII IIIIIIIIa Pog 5 of 4 e:aea D 0.00 11r 0n24 Em - F�(hdpl fA A parcel of land situated in the SWA of Section 13, Township 10 South, Range 85 West of the Sixth Principal Meridian, being a part of the Roundup Lode Mining Claim, U.S.M.S. No. 6756 described as follows: Beginning at a point whence Comer No. 2 of said U.S.M.S. (A No. 5 rebar with aluminium cap 2376 in place) bears N 39 °30' W 290.00 feet; thence S 32'55'W 150.00 feet; thence S 57°05' E 95.00 feet; thence N 32 0 55' E 150.00 feet; thence N 57'05'W 95.00 feet to the point of beginning. I III �" I I�1I�I�I�I 47038 118,10" a o f 14 07,30 I�III��II�� 'I�fIII�IIIII'OI�'III�I�I 1 R 0.00 D 0 00 O " Sp �r LV1R ARV IS pI7 �l' 1 �0?5 RESOLUTION OF THE PITEIN COUNTY PLANNING AND ZONING COMMISSION GRANTING 1041 SPECIAL APPROVAL To THE ROUNDUP LODE CLAIM Resolution No. 95-4 WHEREAS, James Mollica (hereinafter 'Applicant') is the owner of record of approximately .727 acres of real property, more specifically described on the attached Exhibit 'A'; and WHEREAS, the application has requested approval of a 1041 special review for a single- family home regarding geologic, riparian and scenic concerns; and WHEREAS, a pubic hearing was held before the Pitkin County PI-inning and Zoning Commission (hereinafter the 'Commission'), on February 19, 1985, at which evidence and testimony were presented with respoct to said application. NOW, THEREFORE, BE IT RESOLVED by the Commission that it does hereby grant 1041 special review approval for the James Mollica Roundup Lode Claim for a single- family residence subject.to the following conditions: 1. The structure shall be single story and woven int-i the terrain. Indigenous materials shall be used on exterior surfaces. I 2. A habitable basement shall not be included in the structure because of high ground water table. 3. The rear wall and /or root shall be designed based on a site specific study done by a qualified structural engineer. 4. Sails engineering studies shall be performed at the site specific level to insure proper foundation design. S . will discharge wastewater into the Castle sewer line. 6. The structure shall be limited to the area identified by the v building footprint submitted with the application and attached to the resolution. 7. A rear yard setback variance must be obtained from the Board �- of Adjustment, or the Applicant shall be required to meet the applicable setback requirements within the approved building envelope. This 1041 approval does not suggest or imply any position by the planning Commission concerning the review by the Hoard of Adjustment. S. Accepted erosion control measures shall be enployed to eliminate any impact upon water quality from construction. 9. The existing ditch shall be cleared so thatirt W c carr"ny V stream flow which may inundate the streambaift. 0388 IIIIIII VIII IIIIII VIIIVIIIIIIIIIVIIIIIIVIII IIIIIIII age 14 h SILVIF DAVIS PITNIN COUNTY CO 01.39P �. R 0.00 D 0.00 a PrCn: •:c iun No. 05- raga 10. The opplic. -lnt shall dedicatc an carcment of tan 1101 feet width to the County designating the proposed trail path as a permanent public right -cf -way for pedestrian and equestrian use. 11. No vegetation within the 100 year flood hazard zone shall be disturbed (with the exception of the trail easement and driveway location as shown on the attached plat submitted with the application). 12. No dogs shall be permitted to be kept on the property. 13. No fencing shall be permitted around the perimeter of the property. ll. All utilities shall be installed underground. 1� 15. A spark arrestor shall be installed above the fireplace in the chimney. 16. only two live trees shall be removed from the site. These ' trees art two mature cottonwood trees identified in the landscape architects report (letter from Joseph Hockrein dated 1/16/85). 17. A holding tank shall be installed for the well water to mitigate occasional periods of peak demand on the well. 18. A written document shall be submitted by the County Attorney ✓ confirming the legal creation of the lot prior to the ' initiation of any construction thereon. APPROVED by the Commission at its regular meeting on March S, i9eS. PITRIN COUNTY PLANNING AND 'i iOHING COMMISSION By «e. Suzanftt Caskey,.Chai an ATTf,��� Lew Scanlan, Deputy County Clark IIIIII VIII IIIIII IIIiI VIII IIIIII VIII III IIIiI IIII IIII Pa ge: 20022 01:39P SILVIA DAVIS OITNIN COUNTY CO R 0.00 D 0.00 ;.,10027 :;tvB 48Z niu �i I J EXHlb1T A A parcel of 7er.6 situated in the :I7; of Section 13, ofsthe 1 South, Tange 65 West o_ f the 6th P.li., a g part r..oundup Lode Mining Claim, L'.S.F..S. 6756 described as follows: 6756 n, (a n no c 5 p oint ebar with alum. l alum. cap 2376 in place) bears 11 39'30' W 290.00 feet$ thence S 32'55' W 150.00 f et$ thence S 57'05' E 95.00 feet$ thence N 3:.'55' E 150.00 feett thence N 57'05' L: 95.00 feet, to the Point of Beginning COLI:TY OF PITKIlt STATE OF COLOWO a I II�IIIBIIIIIiIII VIII IIIIIIIIiII VIII IIIIIIIIIIililll a gODSS 1:39P fir (120 V�� U f ®r 0029 �� @�s pill 111111111111111 02 01:39P 51LVIR DAVIS PITKIN COUNTY CO R 0.00 aM I r 1 a ii / m ' !�% '• I r•i r ,--� v yi � , ecrr i„ III IIII�I��II�I t�II 470388 II��1II���II�III��II��I���I11���II 89300 ° 0 .1 0739P II Co LVV; DRV28 PIT (V` n3 nuOR 462 FAOdL pitk co unty 506 east Ma,n streec aspen, coioredo Bl611 March a, 1985 The pitkin County Planning s Zoning Commission C/o Cindy Mouben, Aspen / Pitkin County Planning office 130 South Galena Aspen, Colorado 81611 RE: Roundup 1041 Special Review Members of the Commission: As a condition of approval of the above - referenced application, entered by you on February 19, I9e5, you specified a requirement ror the lot t that confirmation subje f me of the application. e legal creation of ion By partition decree entered in the matter of Shaw v South and H agkin , Civil Action Mo. 78- CV-165, dated February 20, 1979, and at BOOK 3bJ, recorded subject ofthisapplicationo 6 was legally created. The requirements of Section 20 -1, - subdivision or subdivided land," subsection given notice t of i the t partition act and given p w an opportunity to participate therein, which in fact it did. My review of subsequent transactions with respect to this property suggested the possible applicability of the County's "Merger Rule" to this property. It is my conclusion that this parcel has not merged with the anlacent parcel that was also created in the partition action, since the two parcels have not come under single ownership subs uert to the Ccurt's partition decree. Posed on the foregc n. it is my conclusion that the lands Lr question constitute a legal lot for which subdivision review it not now required. very truly yours, s� K ( 1. ! .a1J m zp Thomas Fenton smith County Attorney Q. M n TFS:cd s °- -� T Op cc! James J. Mollica Frederick F. Peirce, Esq. Gideon Kaufman, Esq. Albert Kern, Esc. William Walters, Esq. II`` II `` II 11 1`I 111III 470388 �I�IIIII�II��II���IIIII��I�I�IIIII II�II II��I�III�IfII�I 0 07/30/2002 01 :9P SILVIA DAVIS P ITKIN N Cn rn •n G ij' 41031 0F:11, w.A•1n.. .gijl tr. .a March ;•'H5 M ^• y R r N J,VIE5 J. NOLLICA G �rv'1 n -1 O.wml .n PLt:.ln ...,1. .n 1.., •... .. n.... ,n.l — Jr' V In „ ABE S. WILSON. Trustee •e >m t11 +Mr' 4-n.1 wkh— 1• 1 Box 12hf1 I Laredo, TX 78042 -121, 11 Texas Mlk r.u1Y1 .a Webb v,1r • " Yr''6FV' '• " -' 111TC {��i.Tll. Ib.Y O4•Ylnnrla Ma.Y.I n .A +Jlnr••n Iw wYl.'1 Tl:n 4i ?b r::: 1130 DOLLARS and other'' good and valuable consideration ----------------------------- t'PY-00. sit IaOh.lr' h• a ,• ". '.. • •I -JJ mI..•mu.d, mlFl lMw rye•rnn.A' as rran. M1XYn .nw.rluruI..l ... I pea.... Ills YY ;d'f.Y....... .11 14 wvl p•ry,Yn l. and uurylwanrm.. uu nIin..4 II I t It •4•anRJ J. 4JAu • ' A pnrcvl of laud situated In the S141 /4 of Saction 17, Township 10 Snuth, Range 85 West ur the 6th P.N., being a part of the Roundup Lode ::Infnr Cl llm, O.S.H.S. 6756 described am follows: Beginning nt A point whor.ce rarnor No. 2 of Bald I'.S.N.S. 6756 (a no. 5 rebAr with Alum. cap 2376 In place) hnnra N 79 W 290.00 feet; thvnrl S 72'55' W 15400 feet; thence 5 57 'n5' E 95.00 font; thvnee N 32'55' E 150.00 feet; thence N 57'05' W 95.00 (cot; to the Point of Beginning I COUNTY OF PiTR1X STATF. OF COLORA00; EXCEPT the lien for 1985 real properly taxes, duo and pavable in 1986, and µ,,b,.quent years Anil SVRJF.CT TO (RI•RJF-CTIONS CONTINUED ON REVERSE) i .I 14•• ' f'Iyrh1'l "YIMPv'Y'l'l9/ ''. 11x.1 I IILN •.nl. JII nil .•n wl.n 1M1r Iwu.LlwawlY. wld Janu .vru, u .".' 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MOLLTCCA — ►eft � d UW � ._.___.�._ � SI \II 1N 11M IIN. \INI 1 •, ,. 11rm11.4 Pitkln 1 fM trrr nm•n... .t YJ•.Alt R•xap nN'1111Iw 11,11X1 •A Pltkln .X111a w March 1'IRS In Jaw" J. 14nl l I ra en14'n. lnl MAI IMI.'IIn IJI MJi UI .�rN111 +. «1Y r, aa, �I;ale r�F•F. 6; 19� • 1 if 1.1.'..' 11,. 111 01.1 . II• NY• • .nl, •:'1'111 NIMY 1, 1141111 n.. • .'•. .. •.'•• •• 'n• •.. ,, 1032 V! co U4 a in M f . ..e m om$ ww el o ai M" tg -• O r en O� sessississe IIIIIIIIIIIIIIIIIS Missimillilsi c7 a m m m m = aaaalXaa� � Y w .te a 0 MENOMONIE essissimme ft J N 1. Resrrvstion -�r r;E;,: of way for ditches or Lr.ivrls censtrucred by the Nuthnrity of the United States arr set forth fn U.S. Patent recorded In Perk 39 at Page 9; yr the Pitkin County real. p- , +perty recurs !.: rind 2. The continuing jurisdictlen of the Court to deretnine ano cre:,r.e a non - exclusive perpetual access rrra utility rasemenr as set forth in Decree recorded in Boat 163 at Pape 646 of the Pitkin County real property records. 3. Terms, conditions, provisions and obligations eontainiYd in Well Ilse Agreement, Fesement Agreement and Agreement rerorded in Book 389 at Pape 2. Bcol: 403 at Page 619 and Book 403 at Paps 625, respevrlvely. of the Pitkin. County real property reCOrdF.. Pursuant to Settlenert Agrovnrnt dated October 2, 1 984, the referenced Well Use Agreement, F.nserenr. Agreement and Pgreement are hereby mcrged into this deed and shall be of no further force or effort independent hereof. All affirmative obligations of Anthony F. Mollica, James J. Mollica or .Tames J. Mollica and Associates. Inc. under the referenced Agreemet,ts rite hereby specifically eliminated ne set forth in said Settlement Agreement.. 0 4 0 3 2002 01 :39P i i { x.111033 I � F ' a ii i i { x.111033 m� 5U � lip w , i 10034 �� . .. .� . y ` /R2 \ � ® (\ - � . \ . { � � a e g ƒ g)§ .A Recorded at o 'clock M ' el coax 58U P%F287 Reception No l F o ZG u SILVIA DAVIS PITHIN COUNTY RECORDER RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO GRANTING 1041 HAZARD REVIEW AND EMPLOYEE DWELLING UNIT APPROVAL TO THE DAVID PRESS APPLICATION Resolution No. 89 -�a WHEREAS, David Press, hereinafter "Applicant ", has applied to the Board of County Commissioners of Pitkin County, Colorado, hereinafter "Board ", for 1041 Geologic Environmental and wildfire Hazard approval for additional living space (exceeding 30 %) to an existing residence pursuant to Section 5 -400.2 and an Employee Dwelling Unit pursuant to Section 3 -8.13; and WHEREAS, the Applicant's parcel is zoned AF -1 and contains approximately 34 acres, located below Castle Creek Road and adjacent to Castle Creek, approximately one mile south from State Highway 82 more specifically described in Exhibit "A "; and WHEREAS, the Board did consider the application at a duly noticed public hearing at their regularly scheduled meeting on March 14, 1989; and WHEREAS, the Planning and Zoning Commission reviewed the request and on January 17, 1989 at their regularly scheduled meeting in which they recommended to the Board approval of the 1041 Hazard Review with conditions. NOW, THEREFORE, BE IT RESOLVED by the Board that it does hereby grant 1041 Geologic Environmental, Wildfire and Employee Dwelling Unit approval to the applicant subject to the following conditions: 1 The development shall comply with the recommendations made by Arthur I. Mears, P.R. regarding the design of E n, 1 s i r 3 i I a r 4 coax 589 PAcP288 i f a ,7 the new additions to resist the potential avalanche loads. 2. The development shall comply with the recommendations made by their geologist, Nicholas Lampiris regarding drainage deign, gravity relocated hazards such as rock fall and mud slides and soil engineering studies to insure proper foundation design. ). All material representations in the application shall be adhered to. 4, The Applicant shall provide the Environmental Health Department of the County with water well verification on the yield or quality of their on -lot system. 5. The Applicant shall comply with the following fire hazard mitigation plan: a. No flat roof on homes where leaves, needles, or other flammable debris can accumulate. b. Eeep all roofs clear of debris. C. Roof coverings shall be of a noncombustible Underwriter Laboratory approved material. d. Enclose or screen off porch, floor, roof, or attic openings. e. Tree branches hanging within 15 feet of chimneys shall be removed. f. Keep weeds and debris at least 10 feet away from the base of your home. g. Do not park any motor vehicle in tall dry grass (hot muffler may start fires). h. Develop cann beexternal a smalle supply for cisternfirefighting. w loo hydrant. 1 Stack buildings. firewood Ph fine r fuels a away contour away from from stacked wood. j. Place at least one to -pound ABC -class fire extinguisher in the home. A 50 -foot garden hose connected to the hot water heater drain is useful in a fire emergency inside the house. F 1 � L i� l t ( i k L P • i c . r Resolution No. 89-,IL. Page 2 f;!OH037 I F Eoox 589 =289 Resolution No. 89 -may Page 3 in a fire emergency inside the house. k. Have power and telephone lines installed underground. If not possible to bury lines, then keep lines clear of branches. 6. The Applicant shall record Employee Deed Restrictions to the satisfaction of the Aspen /Pitkin Housing authority prior to the issuance of any Building Permits. 7. The Applicant shall submit a 24 x 35 inch mylar site plan for recording which meets the approval of the County Attorney and Planning Office. APPROVED by the Board at its regular meeting on March 14, 1989. BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO BY ( 4 'mil olette Penns, Chairperson ATTEST: anette o tone ibeputy Cunt Clerk APPROVED AS FO Thomas F. Smith, County Attorney MJL:ds boccreso.press W 38 APPROVED AS ^ TO CONTENT: � Alan Richman, Planning Director 'd. s i J F A r t ` r. . f max 589 FAGE290 BOON 533 PAGE EXHIBIT "A" j All of the Early Bird Lode Claim and the Sepiolite Lode Claim, and those portions of the Roundup Lode Claim and Bement Lode Claim, all being within U.S.M.S. No. 6756, Pitkin County, Colorado, excepting therefrom, and not forming a part of the following described real property: A parcel of land situated in the SWh of Section 13, Township 10 South, Range 85 west of the Sixth Principal Meridian, being part of the Roundup Lode Claim, U.S.M.S. No. 6756 described as follows: Beginning at a point whence Corner No. 2 of said U.S.M.S. No. 6756 (a No. 5 rebar with alum. cap 2376 in place) bears North 39 "30 West 290.00 feet; thence South 32 0 55' West 150.00 feet; thence South 57 ° 05' East 95 feet; thence North 32 "55' East 150.00 feet; thence North 57.05' West 95.00 feet to the point of beginning, together with any and all easements, water rights, well rights and contract rights appurtenant thereto, except those made in connection with the sale of the subject property to the grantee by the grantor. The conveyance of water rights herein is by quit claim only without warrants of title. i a� 1. �f O L 1 ., it .kJ - ti %44) it dt� .04 n .kJ - dt� .04 n a� C m 0 lit / � C h ti 4 n a 4, � � a O� \ V � �o i Recorded at�o'clock�M� % WON 589 PAGE287 Reception No r o z u SILVIA DAVIS PITRIN COUNTY RECORDER RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF PITEIN COUNTY, COLORADO GRANTING 1041 HAZARD REVIEW AND EMPLOYEE DWELLING UNIT APPROVAL TO THE DAVID PRESS APPLICATION .. Resolution No. 89 -4 s.z a4' f�'i. > (i li�r142 WHEREAS, David Press, hereinafter "Applicant ", has applied to the Board of County Commissioners of Pitkin County, Colorado, hereinafter "Board ", for 1041 Geologic Environmental and Wildfire Hazard approval for additional living space (exceeding 30 %) to an existing residence pursuant to Section 5 -400.2 and an Employee Dwelling Unit pursuant to Section 3 -8.13; and WHEREAS, the Applicant's parcel is zoned AF -1 and contains approximately 34 acres, located below Castle Creek Road and adjacent to Castle Creek, approximately one mile south from State Highway 82 more specifically described in Exhibit "A "; and WHEREAS, the Board did consider the application at a duly noticed public hearing at their regularly scheduled meeting on March 14, 1989; and WHEREAS the Planning and Zoning Commission reviewed the request and on January 17, 1989 at their regularly scheduled meeting in which they recommended to the Board approval of the 1041 Hazard Review with conditions. NOW, THEREFORE, BE IT RESOLVED by the Board that it does hereby grant 1041 Geologic Environmental, Wildfire and Employee Dwelling Unit approval to the applicant subject to the following conditions: 1. The development shall comply with the recommendations made by Arthur I. Mears, P.E. regarding the design of .f . i .d. i r r E � r :y s r._ r i i conk 589 PAGO8 the new additions to resist the potential avalanche loads. 2. The development shall comply with the recommendations made by their geologist, Nicholas Lampiris regarding drainage deign, gravity relocated hazards such as rock fall and mud slides and soil engineering studies to insure proper foundation design. 3. All material representations in the application shall be adhered to. 4. The Applicant shall provide the Environmental Health Department of the County with water well verification on the yield or quality of their on -lot system. 5. The Applicant shall comply with the following fire hazard mitigation plan: a. No flat roof on homes where leaves, needles, or other flammable debris can accumulate. b. Keep all roofs clear of debris. c. Roof coverings shall be of a noncombustible Underwriter Laboratory approved material. d. Enclose or screen off porch, floor, roof, or attic openings. e. Tree branches hanging within 15 feet of chimneys shall be removed. f. Keep weeds and debris at least 10 feet away from the base of your home. g. Do not park any motor vehicle in tall dry grass (hot muffler may start fires). h. This can be a small pond, cistern, w e ll, or hydrant. on i Stack buildings. firewood fine r fuels a away contour awa from stacked wood. j. Place at least one 10 -pound ABC -class fire extinguisher in the home. A 50 -foot garden hose connected to the hot water heater drain is useful in a fire emergency inside the house. E 4 l Resolution No. 89- ptr Page 2 i v�1043 t n 77 t i. �Y i r i E f i , f E 4 n 9 em 589 Pnse289 Resolution No. 89 - Page 3 in a fire emergency inside the house. Y y Y' +Sl•; �• k. Have power and telephone lines installed underground. If not possible to bury lines, then keep lines clear of branches. 6. The Applicant shall record Employee Deed Restrictions to the satisfaction of the Aspen /Pitkin Housing authority prior to the issuance of any Building Permits. 7. The Applicant shall submit a 24 x 35 inch mylar site plan for recording which meets the approval of the County Attorney and Planning Office. APPROVED by the Board at its regular meeting on March 14, 1989. BOARD OF COUNTY COMMISSIONERS OF PITEIN COUNTY, COLORADO By olette Penn,, Chairperson ATTEST: anette Jone �beputy Countir Clerk APPROVED AS FO Thomas F. Smith, County Attorney MJL:ds boccreso.press APPROVED AS TO CONTENT: Aon " Alan Richman, Planning Director h a i , I. i i M n� on44 a s- " BOON �UJ PgGf�y� cooe 533 PAGE876 TA "1. s ii, tii =,.145 EXHIBIT "A " -•� All of the Early Bird Lode Claim and the Sepiolite Lode Claim; and those portions of the Roundup Lode Claim and Sement Lode Claim, all being within U.S.M.S. No. 6756, Pitkin County, Colorado, excepting therefrom, and not forming a part of the following described real property: A parcel of land situated in i the SWh of Section 13, Township 10 South, Range 85 West of the Sixth Principal Meridian, being part of the Roundup Lode Claim, U.S.M.S. No. 6756 described as follows: Beginning at a point :f whence Corner No. 2 of said U.S.M.S. No. 6756 (a No. 5 rebar 1 with alum. cap 2376 in place) bears North 39 °30 west 290.00 feet; thence South 32 0 55' West 150.00 feet; thence South 57 6 05' East 95 feet; thence North 32 "55' East 150.00 feet; thence North 57 "05' West 95.00 feet to the point of beginning, together with 1. any and all easements, water rights, well rights and contract rights appurtenant thereto, except those made in connection with the sale of the subject property to the grantee by the grantor. The conveyance of water rights herein is by quit claim only without warrants of title. l a r TA "1. s ii, tii =,.145 IVId M31A3N 1001 SS3bld Z AO I 133HS . tvT w 5; W cr v 0 U) N w cc a- 4. I'd OR jr Z, 'le — 0 lzA W Z 0 0 0 w li,� 4. I'd S ,5 3 V�z k, m v N OR jr Z, 'le — 0 W Z 0 0 0 S ,5 3 V�z k, m v N 74 r 0 E f t ? m $6 ''I 2 4 1 0 �� - � 4 it 4`1. t: T4 w 8 W wt: > o n46 OR Z, 'le — 0 0 0 0 w li,� 4`1. t: T4 w 8 W wt: > o n46 LVIJ AVIIAAN Ibm ggqI e� 3 " lit � - I i / c � a + o 1 6y' V iR e9 3 s I AOD 777 l it , IRS; J; 1 C5 ` j O WN su L 10 it is O Z) (n -fJ ' S i" STAMPS jot 1"OrAwl 11 UZI 4 01-�Tlsw - WO way to p F oil a 1 11Y "JZ J It-i Effmi I � 1 W'11049 A � \ \} CZ � � � < � � . \ \ , .� � � § ®� � cz � "ZI � Cz \ \` \ \ ! ! I � 1 W'11049 t rI !in5U L W 3 1 I V a R ^1 8 9l ro 9 �e 8 y �e m as \ 3 \ X Cj I ' 0 t rI !in5U ro �l O p •� ro p n2 ro � N C\ � p_ W p �l� yY b Sw 1 \- 7 i i gFg 'd b g } fr tt §pp yy F tip-, m ee f Y H g O o v I ev 3fs ., gg 8 p N Ye HY Y 3 &; siH Fez P• t $ C H� I 5 Rt ro � \a�PQE y� a ° {Yep s F fleEo (3 £ �xfi Y ;fl P �Een£ao + m i ` £ Te aaa 9' z;7^ ' iV� 5 Si. y • E tit •a • \- 7 i i gFg 'd b g } fr tt §pp yy F tip-, m ee f Y H g O o v I ., 8 N Ye HY Y 3 &; siH Fez P• t $ C H� G 5 3 x -R 6 £@ E �3 g ee Fg Si� \ aEEjfr4 tat 4 � 1pp{ & !f!tt; /� (I1ii051 b g } fr tt §pp yy m ee 1 H g O o v I ., 8 N Ye HY Y 3 &; siH Fez P• t $ G 5 Rt ro � \ aEEjfr4 tat 4 � 1pp{ & !f!tt; /� (I1ii051 \ \ m ee 1 O o v I ., � N \ aEEjfr4 tat 4 � 1pp{ & !f!tt; /� (I1ii051 SECOND AMENDED LAZY W CASTLE CREEK LLC ACTIVITY ENVELOPE PLAN PAl®. TO 2735 152-00-008 7 VICINITY MAP I I C ! I ! � r R SCALE t IRS / M ' P V f � � l 8 HP CURPMATIRI Panum PRWRRTY pt pi CERTIFICATION ip NAAQPS PROPERTY 19 f w LEGEND 6 NOTES -u ® w 1` r r rnawr mwn wa ,a \NI IT.rld rlriw P[ PNV81� YOKIL S 1 SE 6OPPfl8SS1IN Q GtII STOUCE TANG v J A TYPICAL ENVELO 11 1 / WALDBAUW PARCEL / L U, If i• `\��\� C PL AT a n• v i� triN NOTES na"a r� ii�'a�.® aa.•e.�..wawA PARCEL i j \ DISCLAIMEP� m w,AI� „—� COAPIUNITY DEVELOPMENT DEPARTMENT APPROVAL n�':.�..2'S wJ •� mr�P /A1M CLERtt AND RECORDER ACCE ANCE I .JRP ° m41L"i" ' — CMND VALfBY SVRV6Y(NC (li 10052 F , It I 63 , 10 3 /2003 03:45F SILVIR DAVIS PIMIN COUNTY CO R 0." 0 0." ADMINISTRATIVE DECISION OF THE COMMUNITY DEVELOPMENT DIRECTOR OF PITION COUNTY, COLORADO, APPROVING THE WALDBAUM/PRESS SUBDIVISION EXEMPTION FOR A LOT LINE ADJUSTMENT rq RECITALS _ 1. Leonard Waldbaum, and David and Shari Press ("Applicants') have applied to the Community Development Director of Pitkin County (Director) pursuant to Section 3 -190- 030 of the Pitkin County Land Use Code, for a subdivision exemption for a lot line adjustment to transfer 14.39 acres from the Press Parcel to the Waldbaum Parcel. 2. The original parcels are more specifically described in Exhibit A (Waldbaum) and Exhibit B (Press). 3. The properties are zoned AFR -10, and the adjusted Waldbaum Parcel contains approximately 14.72 acres and the, adjusted Press Parcel contains approximately 19.48 acres. 4. The Director finds that the request is consistent with the requirements of the Land Use Code. APPROVED by the Director, subject to the following conditions: The Applicant shall prepare a lot line adjustment plat in accordance with Section 5- 60.40. The plat shall be recorded prior to submission of any building permit applications. The lot line adjustment plat shall also be submitted in digital format - suitable for integration into the County's GIS system. The plat shall be amended as follows: A. Show a line on the second page of the adjustment plat for the reception number pertaining to the public trail easement. 00000 a-r 9 11,y 11�o3 Cp rwasA �o (porLG&J WCA�GI,�OCa.a €Zrc� 2. All material representations made by the applicant in the application shall be adhered to and considered conditions of approval, unless amended by other conditions. Pa 3'°.a42M :a:45P APPROVED by the Director, this l9'&y of , 2003. l C' dy Mouben, Community Development Director PID# 273513200006 & 273513200008 P007 -03 000002 Pose; 3 of 4 SILVIN DAVIS PITKIN COUNTY CO R e.eO a 9.041 I A par`uel of land situated In the of "04 Tawtiaflf l South; Range 86 West of the 9btth -, ,;" bskg a pstrJ ctlhe RaunA4P a MI!�foA.�:la� 'IS U S.Na A7SFbdMSS6ed1es follows: Beginning at a point whence Comer No. 2 of Bald U.9.M.9. (A No. 5 rebar with aluminlum cap 2376 In place) bears N 39'30' W 290.00 fees thence 9 32 W 150.00 feet; thence 9 57 E 95.00 feet thence.N 32 E 150.00 feet thence N 57 W 95.00 feet to the point of beginning. 000003 Page: 4 of 4 111 111011111 63/03/2143 03:45P CNj .c. JI S8<a ^` All of the arly Bird Lode Claim and t" e. 5., and those portions of the Roundup Lode Claim and Sement Lode Claim, o all' = ''being' � within : V.S.Y,.S.,,,•No.� 6756, .PitY.a =`� of n the Colorado, excepting therefrom, and no m of l A parcel and in following described real property: P l Ran a 85 West of the the SWh of. Section 13, Township artSoof 9 the Roundup Lode Claim, Si x th P =inci -al Meridian, being p at a oint Si follows: Si th S. No. 6756 desc ribed as follo Beginning p rebar whence Corner No. 2 of said Sbears North739 °30 West5290.00 with alum. c an 2376 in place) thence South 57'05' thence S feet; outh 32 °55' West 150.00 feet; East 95 feet; thence North 32 °5 oin a f 1SO.0 ninq feet; tegether North 57.05' West 95.00 feet two e= right, well rights and contract any and all easements, rights appurtenant thereto, except those made rantee by the � grantor. to t he sale of the subject property herein is by quit claim only The conveyance of water rights without warrants of title. 000004 III 1111111111111111111 I11 II I1 495150 24 02 5 5P SILVIF DAVIS CImIN COUNTY co R al.l0 0 a." prepared by and When Recorded Return to: NBC MORTGAGE COMPANY, ATTN: FINAL DOGS 222 MERCHANDISE MART PLAZA, #550 CHICAGO, IL 60654 Above This Line For Recording LOAN NO. 1101135815 DEED OF TRUST MIN 100058900002923720 DEFINITIONS Words used in multiple sections of this document are defined below and other words am defined in Sections 3, 11, 13, 19, 20 and 21. Certain roles regarding the usage of words used m this doc ument am also provided in Section 16. (A) "Security Instrument" means this document, which is dated FEBRUARY 23, 2004 , together with all Riders to this document (B) "Burrower" is DAVID H. PRESS AND SHARI J. PRESS, HUSBAND AND WIFE Borrower is the trustor under this Security instrument Borrower's address is 927 CASTLE CREEK ROAD ASPEN, CO 80235 (C) "Leader" is RBC MORTGAGE COMPANY Lender is a AN ILLINOIS CORPORATION organized and existing under the laws of ILLINOIS Lender's address is 5445 DTC PARKWAY, SUITE 100 ENGLEWOOD, CO 80111 (D) "Trustee" is the Public Trustee of PITKIN County, Colorado (E) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender mud Lenders successors and assigns. MFRS is the beneficiary under this Security lestrument. VIERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O Box 2026, Flint, MI 48501.2026, tel (888) 679 -MERS. (F) "Note" means the promissory note signed by Borrower and dated FEBRUARY 23, 2004 The Note states that Borrower owes Lender ONE MILLION AND 001100 Dollars (v S 1, 000, 000. 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than MARCH 1, 2034 (G) "Property" means the property that is described below under the heading "Transfer of Rights in the Property " (H) luau" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security instrument, plus interest (I) "Riders" means all riders to this Securitv Instrument that are executed by Borrower. The following riders are to be executed by Borrower [check box as applicable]: Rate Rider F7 Condominium Rider E Second Home Rider Balloon Rider F Planned Unit Development Rider F-1 Other(s) 1 -4 Family Rider F Biweekly Payment Rider (,p "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions. (IQ "Community Association Dues, Fees and Axwssmeats" means all dues, fees, assessments and other charges that are Imposed on Borrower or the Property by a condominium association, homeowners association or similar organization (L) "Electronic Funds Transfer" ,rare any transfer of funds, other than a inaasaaion originated by check draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instillment, computer, or magnetic tape so as to order, instruct, or authorize a financial mstitunon to debt or credit an MUOSL tO - Smrje Fuwly - Fe a Mae/Fredd4 Mar UNIFORM INSTRUMI NT WITH MERS F.3006 (01,01) aeva cow � �� Pegel "rid c� ICS INNIINIIIIIIINIIIIIIINinllllll INIINIII Illt 4/a 2004 02'55P SILVIP DAVIS PITFIN COUNTY CO R 3t.00 b a 00 account. Such term includes, but is not limited o, pointof -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (M) "Ensiow Item" mean those items that are described in Section 3. (N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for (i) damage to, or destr icuon of, the Property, (n) condemnation or other taking of all or any part of the Property, (iii) conveyance in lieu of condemnation; or (rv) misrepresentations of, or omissions m to, the value and/or condition of the Property (0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan (P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (it) any amounts Under Section 3 of this Security Instrument (Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 At seq.) and its implementing regulation, Regulation X (24 C.F R Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject natter As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage load wen if the Loan does not qualify as a "federally related mortgage loan' under RESPA. (R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY The beneficiary of this Security Instrument is MERS (solely as memo= for Lender and Lender's successors and assigns) and the successors and assigns of PIERS. This Security Instrument secures to Lender (t) the repayment of the loan, and all renewals, extensions and modifications of the Note, and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower, in consideration of the debt and the cost herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the COUNTY of PITRIN ITWe of R—Vdmg lu,ss Vonl INMng of Raordmg lumdnnaiunl SEE ATTACHED EXHIBIT "A" PIN #:273513200006 which currently has the address of 927 CASTLE CREEK ROAD, ASPEN 1-4 Imyl Colorado 80235 ( "Property Address"): aEi TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument All of the foregoing is referred to in this Security Instrument as the "Property" Borrower understands and agrees that MFRS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, PIERS (as none for Lender and Lender's successors and assigns) has the right to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is Unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record and liens for axes for the current year not yet due and payable. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations byjurisdiction to constitute a uniform security instrument covering real property UNIFORM COVENANTS. Borrower and Lender covenant and agree w follows: 1. Payment of Principal, Interest, EserDw Immg, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note Borrower shall also pay funds for Escrow Items pursuant to Section 3 COLORADO - Smgle F.1y - Futile M.dPreddk Mx UNIFORM INSTRUMENT WITH MERg F.3006 (01,01) MEY M% P.ge 3 of 10 W IIaNIIINiIIII�IINII�IIINiIIUIIIIIInINIIIIIIN 95 2064 02 515P 15 Payments due under the Note and this Secant, Instrument shall be made in U.S currency. However, if any check or other instrument received by Lender as payment under the Note or this SecuntY Instrument is mmanod to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in ore or more of the following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank check, tressames check or cashier's check, provided any such check is drown upon an institution whose deposits are insured by a federal agency, Instrumentality, or entity, or (d) Electronic Funds Transfer Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment(s) or partial p aymen t( s ) if the paymcm(s) or partial payments are insufficient to bnng the Loan current. Lender may accept any payment(s) or partial payment(s) tnsuffiment to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such paymem(s) or partial payments in the tbtum. but Lender is not obligated to apply such payments at the time such payments are accepted If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied fmtds Lender may bold such unapplied funds until Borrower makes payntent(s) to bring the Loan comet. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. if not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument- 2. Application of Payments or Pruceedx. Except as otherwise described In this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note, (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. U Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. B more than one Periodic Payment is outstanding. Lender may apply any payment received from Borrower to the repayment of the Periodic Payments f,, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Fonds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property, (b) leasehold payments or ground rents on the Property, if any, (c) premiums for any and all insurance required by Lender under Section 5, and (d) Mortgage Insurance premiums, if any, of any starts payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items arc called 'Escrow Items.' At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender warves Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds leas been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrowers obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement' is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exemase its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any Brine, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Fonds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the baea of current data and reasonable estunatirs of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in an) Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the nine specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or venfying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge Unless m agreement is made in writing or Applicable law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. COWt UW - Single F. 1y- Fame, Maelredie Me' UNIF0111Y1 LNSTRUTAMTWITH HERS F.3006 (OINI) Mr.1 Pegs 3 of to P r A� In�III�BNUNII�IINn�IIII�IIIIIIIhUlllli�l 495 03/0312 02 Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to nuke up the shortage in accordance with RESPA, but in no more than twelve monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as regwred by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than twelve monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any To the extent that these items arc Escrow Items, Borrower shall pay them In the mamter provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lenders opinion operate to prevent the enforcement of the hen while Wore proceedings are pending, but only until such proceedings an concluded; or (c) Secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Intmment. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instmment, Lender may give Botrower a notice identifying the hen. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5- Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, III=& included within the tern "extended coverage; and any other hazards including, but not limited to, earthquakes and floods, for which Lender squires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exenctsed unreasonably Lender may require Borrower to pay, in connection with alts Loan, either (a) a one -time charge for flood zone determination, certification and tracking services; or (b) a one -time charge for flood rune determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense Lender is under no obligation to purchase any particular type or amount of coverage Therefore, Such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect Borrower acknowledges that the cost of the insurance coverage So obtained might significantly exceed the cast of insurance that Borrower could have obtained Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove Such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an addiuonal loss payee. Lender shall have the right to hold the policies and renewal certificates if Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless lender and Borrower otherwise agree in writing, any insurance proceeds, whetter or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lenders security is not lessened During such repair and restoration penod, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect Such Property to entire the work has been completed to Lenders satisfaction, provided that Such inspection shall be undertaken promptly. Lender may disburse proceeds for the repair and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable law requires interest to be paid on such insurance procceds, Lender shall not be required to pay Borrower any interest or earrings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower If the restoration or repair is not economically feasible or COLORADO- Single FMmty- Facile MadFr Mw UNIFORM INSTRUMENT WITII MRRS From 3" (01101) MWrmf PW A or III y;(9. IIIIIIIII IN INIII INII1 I IN II NN 095 5a f 02 SSP SILVIA DAVIS PITxrN COUNTY CO R a1 00 D 0.00 Lender's security would be lessened, the insurance Prods shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, prod to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond willun 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the chum. The 30-day period will begin when the notice is given In either event, or If Lender acquires the Properly under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any immiance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of ancarned premiums paid by Borrower) under all Insurance policies covering the Property, Insofar as such rights are applicable to the coverage of the Property. Lender may use the msmance proceeds either to repair or restore the Property or to pay amounts unpaid "der the Note or this Security Instrument, whether or not then duc. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrowefs principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's principal residence for at )east one year after the date of occupancy, unless Lender otberwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which arc beyond Borrower's control. 7, Preservation, Maintenance and Protection of the Property; Ingpecdo" Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or comnut waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless It is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If msumnce or condemnation proceeds are prod m connection with damage lo, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has micased proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or m a ones of progress payments as the work is completed. if the Insurance or condemnation proceeds are not sufficient to repair or restate the Property, Borrower is not relieved of Borrowers obligation for the completion of such repair or restoration. [.ender or its agent may make reasonable entries upon and Inspections of the Property If it has reasonable cause. Lender may inspect the interior of the improvements on the Property. lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be In default if, during the Lo" application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate Information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but we let limited to, representations concerning Borrowers occupancy of the Property as Borrower's principal residence. 9. Protection of Leader's Interest in the Property and Rights Under this Security Instrument If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights "der this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to. (a) paling any sums secured by a lien which has priority over this Security Instrument, (b) appearing in court, and (c) paying reasonable attorney's foes to protect its interest in the Property and/or rights "der this Security Instrument, including is secured position in a bankruptcy proceeding. Securing the Property Includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, dram eater from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so It is agreed that Lender incurs no liability for not taking any or all actions authorized "der this Section 9. Any amounts disbursed by Lender "der this Section 9 shall become additional debt of Borrower secured by this Security Inistnlment These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting Payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the previsions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger In writing 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of snaking the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage lnsusance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. if substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the Insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non - refundable loss reserve in lieu COLORADO -Smgk Family - F+ Mdrddk Mm UNIFORM INSTRUMENT WITH MFRS Fmm3W6 (01101) M.I. r. s Pno t 11 II1111111111111 X11 X111 IIIIIU III 4 03/03/2004 5 50 2 55P SILV DAVIS FITRIN CDUN" CO R at.00 D 0.00 of Mortgage h mrance. Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss resent payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance, If Lender required Mortgage Insurance as a condition of nuking the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance In effect, or to provide a non - refundable loss reserve, =III the Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insmance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insumr may have available (which may include funds obtained from Mortgage Insurance premiums) As a result of these agreements, Lender, any purchaser of the Note, another insurer, any ¢insurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as ) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modif)ing the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurers risk in exchange for a share of the pmrmu paid to the insurer, the arrangement is often termed "captive reinsurance." Further, (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loam. Such agreements will out increase the amount Borrower will we for Mortgage Insursace, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. Thee rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Azdgmment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to eosure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be regwmd to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the rims seared by this Security Instrument, whether or not then due, with the excess, of any, paid to Borrower In the event of a partial Liking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums segued by this Security Instrument immediately before the partial liking, destruction, or loss in "Inc, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the told amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums arc then due. If the Property is abandoned by Borrower, or if, after nonce by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the non= is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or rim then due. "Opposing Party' means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of anion in r egar d to Miscellaneous Proceeds. CDC)W DO - SwSle Fmnily - ParvdeM rvldie Mac UNIFORM INSTRUMENT wTf11 NIEkS Fwm3006 (01 /01) mFFS xr Page 6 a 10 IIINIINN IIIIN�NNNIINIIIIIIIIINII�I e9e 15002:55P 6ILVIn DAVIS P;TNIN COUNTY CO R 01 as D 0.00 Borrower shall be in default of any action or proceeding, whether civil or criminal, is begun that, in Lenders judgment, could result in forfeiture of the Property or other material impairment of Lenders interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lenders judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instument. The proceeds of any award or claim for damages that arc attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. IA Borrower Not Released; Forbearance By Leader Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearmcc by Lender in exermsnng any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any tight or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security Instrument but does not execute the Note (a "co-signer") (a) is co-signing this Security Instrument only to mortgage, grant and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any Other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Insroment or the Note without the co- signers consent Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's O bli ga ti on s under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrowers rights and benefits under this Security Instrument. Borrower shall not be released from Borrowers obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall ant be construed as a prohibition on the charging of such fee. Lender may not charge fees that arc expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then. (a) any such loan charge shall be reduced by the amount necessity to reduce the charge to the perm limit; and (b) any sums already collected from Bormwer which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed wrier the Note or by making a direct payment to Borrower If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrowers acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have ansug out of such overcharge. 15. Notices. Ali notices given by Borrower or Lender in connection with this Security Instrument must be in wasting. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mad or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender Borrower shall promptly notify Lender of Borrowers change of address If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall ody report a change of address through that specified procedure There may be only one designated notice address under this Security Instrument at any one time. Any notice to Leader shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security ludi ment shall not be deemed to have been given to Lender will actually received by Lender If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Ralex of Construction. This Security Instrument shall be governed by federal law and the haw of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract In the event that any provision or clause of this Securi Instrument or the Note cunBics with Applicable Law, such conflict shall not area other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. (X)WR W - Smgic Fe v - Fxs Mw/Frdatr MK UNIFORM IN6TRUMENT WITH MERS Faro3006 (01101) KE rM Pege 7 of 10 I�NNINIIIINIn III NN IIIN II t P.O.: z 02:55P TN SILVIA MVIS PIIN LOIMTr LO R at m 0.00 As used in this Security Instrument: (a) words of the masculine gender shall mean and Include corresponding neuter words or words of the feminine gender, (b) words In the singular shall mean and include the plural and vice versa; and (c) the word `may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Proper" means any legal or beneficial interest in the Property, Including, but not limited to, those beneficial Interests transferred in a bond for deed, mount for dad, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser If all or any part of the Property or any Interest on the Property is sold or transferred (or if Borrower IS not a natural person and a beneficial interest in Borrower is sold or transferred) without lenders prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower nonce of acceleration. The notice shall provide a period of not less than 30 days from the date Ili notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instmmenl without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. B Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrowers right to reinstate; or (c) entry of a judgment enforcing this Security Instrument Those conditions arc that Borrower. (a) pays Lender all sums which then would be due under this Security Instrument and the Note as If no acceleration had occurred, (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Secunty• Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees Incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument and (d) takes such action as Lender may reasonably require to assure that Lenders Interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums seamed by this Security Instrument, shall continue unchanged Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender (a) cash; (b) money order, (c) certified check, bank check treasurer's check or cashiers check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as If no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18 _ 20. Sale of Note; Change of Loan Servicer, Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be Sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Semcer ") that collects Periodic Payments due under the Note and this Security Instmmenl and performs other mortgage loan servicing obligation under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the elmnge winch will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of Servicing If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer(s) and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arses from the other party's action pursuant to this Security Instrument or that aliegm that the other pany has breached any provision of, or any duly owed by reason of, this Secunty Instrument, mild Such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph The notice of acceleration and opportunity to rim given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to Satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) " Hazardon Substances' are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances. gasoline, kerosene, other fiarimiable of toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" mean federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection, (c) ' Environmemal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental law, and (d) an "Environmental Condition" mean a condition that ken cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that Is in violation of any Environnrental Law, (b) COLORADO -S.,k Faauly- Falls Mr reddk Maa UNIFORM INSTRUMENT WITII MEiti F.3006 (01 /01) MRW Y Pagu A of 10 � 7 I III DAV IS II TIII II��VIII III II II IRII at eo pass: 9 of 1 3oze 00ez:55P which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or Storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited lo, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is noted by any governmental or regulatory authority, or any private party, that any removal or other remediatmo of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON - UNIFORM COVENANTS Borrower and Lender further covenant and agree as follows 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date Specified in the notice may minall in acceleration of the arms secured by this Security Instrument and Sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non - existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified is the notice, Leader at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and my invoke the power of sale and any other remedies permitted by Applicable Law. Leader shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited In, reasonable allumeys' fees and costs of title evidence. If Lender invokes the power of sale, Leader shall give written notice to Trustee of the occurrence of as event of default and of Leader's election to cause the Property to be said. Lender shall mail a copy of the notice to Borrower as provided in Section 15. Trustee shall record a copy of the notice in the county in which the Properly is located. Trustee shall publish a notice of sale for the time and in the manner provided by Applicable Law and shall mail copies of the notice of sale in the manner prescribed by Applicable Law to Burrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder for cash at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may purpose axle of any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may pnrehase the Property at any Sale. Trustee shall deliver to the purchaser Tmsme's certificate describing the Properly and the time the purchaser will be entitled to Trustee's deed. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the Sale, including, but not limited t% reasonable Trustee's and attomeye fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persona legally entitled to it. 23. Release. Upon payment of all sums soured by this Security Instrument, Lender shall request that Trustee release this Security Instrument and shall produce for Trustee, duly cancelled, all notes evidencing debts Secured by this Security Instrument. Trustee sha11 release this Security Instrument without further inquiry or hability. Bormwer shall pay any recordation costs and the statutory Trustee's fees. 24. Waiver of Homestead. Borrower wmves all right of homestead exemption in the Property COLORADO. Si.gk Fmuly - F ann i e Ma Fevdda Mae UNIFORM INSTRUMRKf WITH MELM F. 3W6 (Ol/ol) Mo. HM PW9 of 10 � L i NII �111 CO IIIII PITKIN C IIII I II II IIIII II III Pa / 02 al LVta DAVI 555 0 CWNTY R 01.00 D 0 00 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Secunty Instrument and in any rider(s) executed by Borrower and recorded with d. Witnesses. F.!Z• 1� Be— Below This Line For Acknowledgment (------ •-------- -• - -•— STATE OF V 0 43 } } SS. County of ,} On this c.2e ( day of YFJJI 1lQN aQ1 before me, the undersigned, a Notary Public in and for said Coinify, personally appeared DAVID H. PRESS AND SHARI J. PRESS Witness my hand and official seal. My Commission expires: and acknowledged the execution of the foregoing instrument. I r Nolary Public SUSAN MCCUMBER NOTARY PUBLIC STATE OF COLORADO Nh Cwmdukn 11103511Or COLORAOO - Suwk F ll - Faaak MaHF�Jdie Mac UNIFORM INbTRUMENT WITH MERS MEPi J(M Pege 10 or 10 Fwm3006 (01101) /b (Seal) DAVID H. PRESB� ' r i _ Jr ... SHA RI J. P ASS -ate — 1 (Seal) Be— Below This Line For Acknowledgment (------ •-------- -• - -•— STATE OF V 0 43 } } SS. County of ,} On this c.2e ( day of YFJJI 1lQN aQ1 before me, the undersigned, a Notary Public in and for said Coinify, personally appeared DAVID H. PRESS AND SHARI J. PRESS Witness my hand and official seal. My Commission expires: and acknowledged the execution of the foregoing instrument. I r Nolary Public SUSAN MCCUMBER NOTARY PUBLIC STATE OF COLORADO Nh Cwmdukn 11103511Or COLORAOO - Suwk F ll - Faaak MaHF�Jdie Mac UNIFORM INbTRUMENT WITH MERS MEPi J(M Pege 10 or 10 Fwm3006 (01101) /b I I IIIII VIII IIIII IIII III�IVIII C O III111111III IIII 0 03/i633//20 z 55F LEGAL DESCRIPTION EXHIBIT A LEGAL DESCRIPTION FOR 927 CASTLE CREEK ROAD ALL OF THE EARLY BIRD LODE CLAIM AND THE SEPIOLITE LODE CLAIM AND THOSE PORTIONS OF THE ROUNDUP LODE CLAIM AND SEMENT LODA CLAIM ALL BEING WITHIN U.S.M.S. NO. 6756, PITKIN COUNTY, COLORADO, EXCEPTION THEREFROM AND NOT FORMING A PART OF THE FOLLOWING DESCRIBED REAL PROPERTY: A PARCEL OF LAND SITUATED IN THE SW IA OF SECTION 13, TOWNSHIP 10 SOUTH, RANGE 85 WEST OF THE SD(TH PRINCIPAL MERIDIAN, BEING PART OF THE ROUNDUP LODE CLAIM, U.S.M.S. NO. 6756 DESCRIBED AS FOLLOWS: BEGINNING AT A POINT WHENCE CORNER NO. 2 OF SAID U.S.M.S. NO. 6756 (A NO. 5 REBAR WITH ALUM. CAP. 2376 IN PLACE BEARS NORTH 39 DEGREES 30 MINUTES WEST 290.00 FEET; THENCE SOUTH 32 DEGREES 55 MINUTES WEST 150.00 FEET; THENCE SOUTH 57 DEGREES 05 MINUTES EAST 95.00 FEET; THENCE NORTH 32 DEGREES 55 MINUTES EAST 150.00 FEET; THENCE NORTH 57 DEGREES 05 MINUTES WEST 95.00 FEET TO THE POINT OF BEGINNING, TOGETHER WITH ANY AND ALL EASEMENTS, WATER RIGHTS, WELL RIGHTS AND CONTRACT RIGHTS APPURTENANT THERETO, EXCEPT THOSE MADE IN CONNECTION WITH THE SALE OF THE SUBJECT PROPERTY TO THE GRANTEE BY THE GRANTOR. THE CONVEYANCE OF WATER RIGHTS HEREIN IS BY QUIT CLAIM ONLY WITHOUT WARRANTS OF TITLE. Page: 12 of 16 IIIIII VIII IIIhI IIII IIIIII VIII IIIIII III IIIIII III IIII 0 2004 02:55P SILVIP DAVIS PITKIN COUNTY CO R 81.00 D 0.00 FIXED /ADJUSTABLE RATE RIDER (LIBOR One -Year Index (As Published In The Wall Street Journal) - Rate Caps) LOAN NO. 1101135815 THIS FIXED /ADJUSTABLE RATE RIDER is made this 23RD day of FEBRUARY, 2004 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the 'Borrower ") to secure Borrower's Fixed/Adjustable Rate Note (the "Note ") to RBC MORTGAGE COMPANY, (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 927 CASTLE CREEK ROAD ASPEN, CO 80235 THIS NOTE PROVIDES FOR A CHANGE IN MY FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY, ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 4.625 %. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial fixed interest rate 1 will pay may change on the first day of MARCH 1, 2009 and the adjustable interest I will pay may change an that day every 12th month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which my interest rate could change, is called a "Change Date." (B) The Index Beginning with the first Change Date, my adjustable interest rate will be based on an Index. The "Index" is the average of interbank offered rates for one -year U.S. dollar- denominated deposits in the London market ( "LIBOR "), as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. 1 1 i )� /J MWtln.M rixeNwQub�k Bate Bider -OSYar LIBOR leeve(N P,bYprl le ra. W"B Sbm J""rnalJ Initials: !1 '/ / rnMa 187 (9"I1 5"& F.a y. F." Mx Ve 1� Page I of 3 I I {I I ry I I I N` I `I I I I I N I I 495150 I I�IIIIINII IIII�I III IIIIII II�II I�I��I III I�IIII 1I1II�I page: 2: SILVIA DAVIS PITKIN COUNTY CO 03/03/0 20604 00 55P (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE QUARTER percentage point(s) ( 2.250 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point (0.125 %). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 9.625 % or less than 2.250 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than two percentage point(s) ( 2.000 %) from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 9.625 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed interest rate to an adjustable rate and of any changes in my adjustable interest rate before any effective date of any change. The notice will include the amount of my monthly payment, and any information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until my initial fixed interest rate changes to an adjustable interest rate trader the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument shall read as follows: Transfer of the Property or a Beneficial Interest in Borrower, As used to this Section 18, "Interest in the Property' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the dale the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by tins Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. Ma,1 ft Aq.m kls kso✓ -O.V —LIBOR Iaan(A. FW -, I- WW S~Jw -O Initials: "1- /) MAlk"ar (0&01} Fb * F.*— rs.k Mr U.S. IOme t Page 2 of 3 ullll DAVIS IIII III IIIIII �IIII CO III IIIIII III IIII 0 0 90 //2500 2:55P 2. When my initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument described in Section B(I) above shall then cease to be in effect, and Uniform Covenant 18 of the Security Instrument shall instead read as follows. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if. (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument Is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and to this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. Z �..— (Seal) D" ID H. PRESS -B... (Seal) R J. P (Seal) M M B (Mi)- W 1u M.11 LIBOR In4z (Ae P�WIZM V nY. WW Sneq Jenrwl MMAJIi'I (WBI} W. Femly- re..k Mx Ilalfws I..trmeBl Page 3 of 3 /4—/ 1!111[1!1[1!11!111M1111N1111 00 03 Page: 15 of 16 /03/290 0 2:55P INTEREST -ONLY ADDENDUM TO ADJUSTABLE RATE RIDER Loan No.: 1101135815 Property Address: 927 CASTLE CREEK ROAD ASPEN, CO 80235 THIS ADDENDUM is made this 23RD day of FEBRUARY, 2004 , and is incorporated into and intended to form a part of the Adjustable Rate Rider (the 'Rider ") dated the same date as this Addendum executed by the undersigned and payable to RBC MORTGAGE COMPANY AN ILLINOIS CORPORATION (the "Lender"). THIS ADDENDUM supersedes Section 4(c) of the Rider. None of the other provisions of the Note are changed by this Addendum. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE QUARTER percentage points ( 2.250 %) to the Current Index for such Change Date. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point (0.125%) Subject to the limits stated in Section 4(D), this rounded amount will be my new interest rate until the next Change Date. During the Interest -Only Period, the Note Holder will then determine the amount of the monthly payment that would be sufficient to repay accrued interest This will be the amount of my monthly payment until the earlier of the next Change Date or the end of the Interest -Only Period unless I make a voluntary prepayment of principal during such period. If I make a voluntary prepayment of principal during the Interest- Only Period, my payment amount for subsequent payments will be reduced to the amount necessary to pay interest at the then current interest rate on the lower principal balance. At the end of the Interest -Only Period and on each Change Date thereafter, the Note Holder will determine the amount of the monthly payment that would be sufficient to repay in full the unpaid principal that I am expected to owe at the end of the Interest - Only Period or Change Date, as applicable, in equal monthly payments over the remaining term of the Note. The result of this calculation will be the new amount of my monthly payment. After the end of the Interest- Only Period, my payment amount will not be reduced due to voluntary prepayments. laprt.t -0ob AW doe 1. A4e.k kRw Rlae PR"3P Page 1 of 2 15_ Page: 16 VIII VIII IIIIII IIII IIIIII VIII IIIIII III IIIIII IN IIII 0 03//03//0 0 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Interest -Only Addendum to Adjustable Rate Rider Ie�OYr A�MMr w Aw.bkk Rai. Rber FRWF Page 2 of 2 B..0 // PITKIN COUNTY COMMUNITY DEVELOPMENT DEPARTMENT 130 South Galena Street Aspen, Colorado 81611 (970) 920 -5526 FAX# (970) 920 -5439 MEMORANDUM To: Pitkin County Zoning Maroon /Castle Creek Caucus FROM: Lance Clarke, Community Development Department lance clarke u co.pitkin.co.us Re: Press /Lazy W Castle Creek LLC Subdivision Exemption for a Lot Line Adjustment (PID 2735 - 132 -00 -006 & 2735- 132 -00 -008; Case P079 -11) DATE: October 11, 2011 Attached for your review and comments are materials for an application submitted by David and Shari Press and Lazy W Castle Creek LLC. The Pitkin County Community Development Director will review the application. Please return your comments to me by Friday, November 4, 2011. http• /hv\row aspenpitkin com/ Portals /O /docs /count\,/('om °-6 /Planning /Land Use Ap plications /P079 11 app.pol If you require a paper copy of this application contact Bonnie Waechtler at bonnie waechtIer'q�co.pitkin.co.us or 920 -5109. Thank you. Lance Clarke From: Joanna Schaffner Sent: Thursday, October 27, 2011 9:29 AM To: Lance Clarke Subject: Press /Lazy W Castle Creek LLC I have reviewed the Press / Lazy W Castle Creek LLC application (PIN 2735 - 132 -00 -006 / 008) lot line adjustment and offer the following comments. 1. Both lots maintain conforming sized lots for the AR -10 zone district (10 acres) 2. Lot sizes do not affect floor area in the AR -10 zone district. 3. Will the public trail easement transfer with the parcel or does it need to be revised? 45. Does the proposed lot line affect the access easement? G cam/ October 11, 2011 Paul Tuddune PO Box 9978 Aspen, CO 81612 taddunerd'compusen Re: Press /Lazy W Castle Creek LLC Subdivision Exemption for a Lot Line Adjustment (CASE P079 -11; PID 2735- 132 -00 -006 & 2735- 132 -00 -008) Dear Mr. Taddune: The Planning Office has completed its preliminary review of the captioned application. We have determined that this application is complete. After 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 Lance Clarke, the planner assigned to your case, at 920 -5452 Sincerely, Bonnie Waechtler Administrative Assistant PITKIN �.JUNTY COMMUNITY DEVEL�>MENT Permit Receipt RECEIPT NUMBER 00031536 Name: David H Press Date:10/4/2011 Project Address: 0 CASTLE CRK Type: check # 8618 Permit Number 1.24800 Fee Description Amount 0079.2011. PLAN 0079.2011. PLAN PP- Flat Fee PP- Clerk Tech Fee Total: 25.00 1.273.00