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' TfIiS FORM HAS IM?ORTANT LEGAL CONSEQUENCFS AND 7'f1E PARTIES SHOUI,D CONSULT LEGAL AND TAX OR �;���'-'��`��
OTE�R COUNSEL BEFORE S(GNING. •
VACANT LAN13/FARM AND RANCH � r_ �.,. c
CONTRACT TO BUY AND SELL REAL ESTATS"� � ~-°,`�'l%:�..1 :;31� ;;
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1_ PARTIES ApD pROpERTY. P%ikfll Couniy Board of Couniy Commissioners, buyec�} �g�yerl,
eemmerH agrees to buy, and the urdersigned seller(s) [Setlerl, agrees io sell, an the terms and conditiorn set forth in this
conireet and ihe Addendum altached hereto, the fo[lowing descrihed real estate in the Counties of Lake/Pitkin, Colo�ado, to
uit;
�� . Orphant Boy Lade Mioing Claim U.S.H.S. #44S in the Lake Creek end Irdependenee Nining Districts. - �
knoun as Ho. N/A `
(SrcW AAbu4 CHy,Swe,ZIP) , ,
� xogether with all tn[eres[ of Selter in vaeated streets and alleys adjacent thereto, all easements end ather appurtmances
there[o, all irtq�rovements thereon and all atiached fixtures thereon, ezcept as herein ezcluded(collectivety the ProperSy). '
(d)Yater Riahts. Purchase prSee to include the following water rights: None
(e)Growinc Craoa, Nith respect to the grouing crops Seller and Beryer agree as tollous: N/A
ihe above-described included items (Inclusions) are to 6e conveyed to Buyer by Seller by bill of seLe, N/p deed or
- o[Aer appticable (egal instnraent(s) at the ctosing, free end clear of all taxes, liens and e�cunbronces, except as provided
. in Section 12. ihe following attached fixtures are exctuded frao ihis sale: N/A G
- 3. PURCIUSE PRICE AND TERMS. The purchase price shall 6e E76.000.00,payable in U.S.dollars by Buyer as follous: (COmplete
. the appliwble terms belou.)
. (a)Eernest Nonev.
8500.� in the form of check, es earnest money deposit and part payment of the purchase price, peyabte ta e�d held by Ra6ert
� D: small , broker, in its trust account o�behalf of both Seller and Buyer. Broker is authorixed to deliver the earnest money
� deposit to the closing agent, if any, at or 6efore closing. See Addendum.
The baLance of 515,500.00 (purchese priee tess earnest money) shaLl be peid as fotlows:
� (b) tash at closioy.
; E15.500,60, p[us ciosing casts, ta be paid by Buyer ax clasing in fwds uhich cmply w;th all applicable Coloredo laws, �+hich
include cash, electronic transfer furds, eertified check, savings end loen teller's eheck, and ceshier's check, (GOOd Funds).
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389�88 Ril/19/9E� �D3:19P F'G 4 OF l.i
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. 5. APPRAiSAL AROV(SIW_ l::;r.i:;?..
(Check one box onty.) 7his section 5 �_�shat[ �X�shell rrot apply. ����''*''t��'�
' if this Seetion 5 applies, as indieated above,Buyer shall have the sole option end election to terminate this contrect �'•:"�,;F����
. if the purehase price exceeds the Property�s vetuation determined by an appraiser engaged 6y N/A The contrect
sball terminete by the Buyer causing the Seller to receive uritren notiee of termination end a copy of sucb eppraisal or written �
notice fran lender which confirms the Property�s valuation is less then the purchase price, on ar hefare N/A
(Appraisel Deadline). If Seller dces�ot receive such trcitten natice ot term3nation on ar before the eppreisat deedline, euyer �
uaives aRy righL to te�minete wider this section. .��
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6- COST OF APPIGISAL. Cost of afry appraisal to be obtained efcer the date af this coniract shall be timely peid by �
8wer
7. NaF 115S1GNA9LE. This co�trac[shail aes be assignabte by Buyer uithout Seller�s pr5or uritten consent. Except es so �
�estricted, this euntrecY shall irwr� to the 6eneftt of and be binding upon the heirs, personaL representatives, successors .
and assigns of the perties. -
8. EVtDENCE OF T[iLE. Buyer sha/l acquire,at Buyei's expense, either : '
a current eommitment for ouner�s title insurance poticy in an amourtt equel to the purehese price or ��ceT en ;Y.'�
abstract of titte eertified tu e current date, on or before Deeea�ber 15 , 79 9S (Titte Deedt{��, � _
er-eear�iee. The title ireurance cmmitment, together with any capies or abstracts nf instruaents furnished pursuant to this '
Section 6, constitute the title dxuaents (T3tle Dxunents).
8eadt-iae�-
� If Buyer acquires a iiY/e insurance commiiment,Buyer wil!pay
the p�emium at c%sing.
9. TITLE.
(a)Title Reviae. Buyer sl�ell have ehe right to inspect the Title Oocunents or abstrect. Vritten notice by evyer ot
urvnerchentability of title or ot any other unsatisfactory title condition shoun by the Title ooeuments or abst�ect shall be �
si9ned by or on behalt at euyer and given to SelLer on or before 70 caiendar days after Title Deadline, or uithin five(5)
calendar days afier receipt by 8uyer ot arry Title Doeument(s)or e�orsement(s)adding neu Exception(g) to the title comaitment
_ together with a copy of the iitle Oocunent adding new Excep[ion(s) to title. If Seller does not receive Buyer�s rwtice 6y the
date(s) specified above, Buyer azcepts the condition of title as discLosed by the iitle Docunents as satisfactory_
(b)Matters Mot 56awn M the P�filic Records. Seller shall detiver to Buyer, on or before the Title Deedline set forth
in sectian 8, true copies of alt lease(s> and survey{s) in Seller's possession pertai�irg to che aroperty and shall disclose
. to 9uyer all easements, lfens or other titie matters not shoun try the putrlic rerords of which Setler has actual knowtedge.
euyer shalL have the right to inspect the Property to determ5ne if arry ihird pariy(s) has any ri9ht in the Property nnt shoun
by the public records �such as an unrecorded easement, unrerorded lease, or botaWary line discrepancy>. pritten notice ot any f-
unsatisfactory condition(s) disclosed by Setler or revealed by such i�spection shel! 6e signed by or on behatt of Buyer ard
, given to Selter on or befare Dece�er 22 , i9 95 . ]f Seller does not receive Buyer's notice by said daie, 8uyer accepcs title
subject to such rights, if eny, of tFird parties of uhich 8uyer hes actua! knowtedge.
(c)Special Teti�a oistricts. SPEC[AL 7AXiNG DISiRICTS MAY BE 5l8JECT To GEMERAL OBUGRTIOM INpEBTEDNESS T1UT IS PAID
BY REVENl1ES PR�UCED FRON ANNUAL SAX LEVIES ON TNE TA1f116LE PROPERTY Y(TXIN$!CN�►STRiCTS_ PROPERiY 04NEp5 IN SUCN DISTRICTS
M11Y BE PLACEp AT ItISK FO0. iXCRFASED MiLL LEV(ES AND EXCESSIVE TA% Bl1pUEM5 TO SUPPORT THE SERVICING OF SUCH DEBT YlIERE
LIRC11lISTAII[ES ARISE RESULT3NG IN THE INABILITY OF SUCN�OISTRICT TO OISCNARGE A1CH 1NDEBTEDNESS YITHWT SVCH AN tNCRE115E IN
MILI LEV[ES_ BUYER Stld1tD iNYESTIG�ITE TNE DE87 FIIUNCING 1IEOl1IRE1¢NTS OF THE NITHORI2ED GEIfERAL OBLIWTipI ItlDEBT�MESS OF
" SUCN DISTRICTS� EXiSTING MILL LEV[ES OF SUCH OISTRICT SER4[CING SUCN II�EBTEDNFSS� IUm TNE POTENTIlIL FOR I1N 1NCRE115E iN SUCN -
MILL LEV[E5.
� In the event the Property is tocated within a special taxing district end Buyer desires to terminate this ca�tract as
a resutt, if written notice is given to Seller on or before the date set farth in 5ubsection 9(b), ihis contreet shell then
ierminate, [f Set[er does no[ receive euyer`s notice by the date specified above, Buyer eccepts the effect of 2he Property's
inclusim in such speciel taxing district(s) and Waives the right to so terminate.
(d) Rinhi to Cure. If Seller receives �otice of urvnerchantability of Sitle or any other unsatisfectory title
condition(s)es provided in Subsection(a)or(b) above,Seller sha44 may use reasonable effort to correct said unsatisfaetory
title conditfon(s)prior xo the date of closing. It seller fails to correet said insatisfactory tStle eondition(s)on or before �
the date of elosing, this conttect shall then terminate; provided, ha+ever, euyer may, by uritten noLice received by Seller on • �
ar before elosi�, uaive abjection to said unsatisfactury title tondition(s).
10. INSPEtTiql. Setler agrees tn prwide euyer on or before December 15 , T995 uith a Seller'S Property Diselosure form
eaipteted by Seller to the best of Setler's eurrent actua! knnwledge_ Buyer or arry designee shalL have the right to have
inspeetion(s> of the pNysical conditim of the Property and Inciusioru et Buyer's expense. lf written rwtice of any
unsacisfactory condicion, sigried 6y or on behalf of&ryer, is not received 6y seller on or before December 22, 7995 (Objeetion �.
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Deadline), the physical corditian of the Property and(n�l�sions shatl be deaned tn be satistactory io Buyer. [f suth notice
is received by Seller as set forth above, and if euyer and Seller have nox agreed, in writing, to e settlement therent on or �
before Decmber 29, 1995 (Resolution oeadtine), this cantract shall terminate three calmdar days follouing the Resotution -
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389288 �1/19/96 �D�:19F' PG 5 OF 15
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' . Deedline unless, within the three eelender deys, SelLer reeeives uritten notiae fran Buyer ueiving objection ta eny '4�''��•T�,+���
unsatisfacmry cordttioa. Buyer is responsible for and shall pey for eny demege uhich nccurs to the Pt'operty and Inclusions `:���`i�!�
es e result of sueh inspectfon. ��
77_ oA7E oF ttoSiWC. 7he dete of elosing shatl be See Addendun, ::_r or by mutual agreement at en eartier dete, The �"
hour and pleae of closing shall be as designeted by aareement of the oarties in Pitkin countv . - �
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12. TRANSFER OF TITIE. Suhjeet [o terder or payment at closing es required herein and eompliBnce by Buyer uith ihe other 1.,
terms ard provisions hereof, seller shall execute ard deliver a good end sufficient Sceciet Yerrentv deed to euyer, on closi�, �
conveyin9 the Property free and clear of ell taxes ezcept the gmeral taxes for the yeer of closing, and-exwpE � - �-�;
N/A 7i21e shall be comeyed free end c(ear of ell (iens for special improvements insCalled as of the ' �
date of euyer�s signature hereon,whether assessed or not; exeept(i)distribution utility eesements(inclWing cable TV), (ii) � �
those matters reflected by the Title Docunents accepted by Buyer in accordance With Subsection 9(a?, .
(iv) incWsion of the ' �
Property wiih5n any special taxing district, end(v) su6ject to buitdin4 and zonfry regulations.
13.PAYNENT aF ENaI1�RAMCES_ My eneu�rance required to be paid sltall be peid et or before closing from ihe proceeds of this
transaction or fran erry oiher souree. �:r�� ���
14- CLOSIMG COSTS.DOI7NENT5 A1�SERVICES. 8uyer-�.a shall pey, in Good Funds, ??!_'^ ------_ _a//closing costs end "
ail other itana required to be paid at elasing, exceptJas otherwise prwided herein. Buyer and Seller.shall sign and eariQlete . -
all customary or required doc�nnents at or before closing. Fees for reat estate-closing serviees shall not exceed 5300.00 ard
sba(l be paid at clasing by Buver. 7he Ixal transfer tax of O % of the purchese prite shetl he paid at closing by NL. . �
Any sales and use tex that mey eccrue because of this transaction shell 6e paid when due by Seller .
15_PRORATIONS. General tsxes for the year of closing,based on the texes for the eeLendar year immediately preceding elasing, i
rents, uater arid sewer cherges, haneowner's essociation dues, and interest on continuing laan(s), if any, erd N/A
shal[ be prorated to date of cfosing. -
16_POSSESSId. Possession of ihe Praperty shell be delivered to 9uyer as follous: uaon deliverv of decd
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su6ject to the fotlowing leese(s) or tenancy(s):
None If Seller, efter closing, fails to deliver
possession on the date herein spetified, Seller shell be subject to eviction and shall be additionally lieble to Buyer for .
peyment of SSO,_00 per day from the tlate of a9reed possession untit possession is delivered.
� 17. CONDITIdI OF lllq DAf1AGE TO PROPERTY. Except es otheruise proVided in this contract, the Property and Inclusions shall
be detivered in the conditian existing as ot the date of this contract, ordinary wear and tear excepted. In the event the
vroperty shall be damaged by fire or other casualty prior to time of elosing, in an emount of not more then ten percent of the
total purchase price, Setler shall be obligated to repair[he same befare the date of closing. In the eve�t sueh demage is not �
repaired within seid time or if the damages exceed sueh sun, this contract may be terminaied et the option of euyer. should
. BWer elect to carry out tbis contrect despite such demege, Buyer shaLl be entitled to credit for all the insuranee prxeeds �'�``
resuliing fran sueh damage to the Praperty end Inctusions, rwt exceedi�g, ha+ever, the Yotal purchase price. Shou(d arry �
Inclusion(s> or service(s) fail or be dama9ed hetween the date of this contract and the date of closing or the dete of
possession, whichever shalt 6e earlier, then Seller shall be tiabte for the repair or replacement of sueh Inclusion(s) ar
- � service(s)with a unit of simiLar size, age and quality, or an equivaleni credit, less any insurance proceeds received by Buyer
� covering such repair or replacement. The risk of loss for eny demage to growing crops, by fire or other casueL[y, shatl be borne
by the party eniitled to ihe grouin9 erops, if eny, as provided in Section 2 and such party shall 6e entiiled to such insurence
proceeds or benefits for the growing crops, if any.
78. T1NE OF ESSENCE/pOIED[ES. Time is of ihe essence hereof. If arry rrote or check received as earnest ma�ey hereurder or
any other payment due hereunder is not paid, honored or teMered when due, or if any other obligation hereu�der is�ot performed �
. - ar uaived as herein provided, there shall be the foltouing remedies,
� (a) !F BUYER iS[N OEFAULTc � �
� (Check oee box only.]
�Xi (2) Liauidated Damaues. nll paymenis a�xl things of value received hereurWer shall be forfeited by euyer end reteined '
o�behalf of Seller end both perties shall thereafter be released fran atl oblqgations hereunder. it is egreed thai such
paymenis atM things of value are LICUIDATED OpMqGES erd(except as provided in Subsection(c))are SELLER'S SOLE AND OHLY REHEOY
for BWer's failure to perform the obLigations of this contrect. seller expressly waives the remedies of speeific perfarmarue
aM additional dameges.
(b) IF SEILER IS IN DEFILLILT: "
Buyer may elect to treat xhis coniract as ean�elled, in uhich case all payments and things of value received hereurder shall
be returned ard Buyer mey recover such damages as may be�proper, nr Buyer mey elect to treat this contract as being in full , �
faree ard effeet and B�yer shall have the right to speeific perfarmence or dameges, or both. �
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389'288 �1/19/96 03:19P F'G E OF 15
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r , (c)COSTS AND IXPENSES. AnyLhing to the contrary herein notuithscendirg, in the event of eny arbitretion or titigeiion erisi�g h;:::�,���';��
out of thia rontract, the erbiirator or eourt shall auard to the prevailing party atl reasonebte casts erd expenses, including -�
'•`�,��u���?'�:;
ettorney'fees. .
19, EARNEST lIONEY DISPUTE. No[withstarding arry terminatio�of this ca�traet, 9uyer end Seller egree thet, in the event of .��
any eontroveray regarding the earnest money a�d things af value held hy broker or closi'y egent, unless mutual written >
inst�uetions are received by the hotder of the eernest money and things of value, broker or closing egent shall not be required ,�';
to take any action but may ewait any proeeeding, or at broker's or closing egent�s option and sole discretion, mey interplead .
atl perties and deposit eny moneys or things of value into a ewrt of competent jurisdiction and shall recover court costs arxi ;�+., ,
reesonable attorney fees. � �
20. AL7ERIUTIVE DISPUTE RESOLUTION• Nm114TI0N. If a dispute arises relatin9 to This contraet, and is noY resolved, the �.
perties end broker(s> irwolved in such dispute(Disputents>ahell first proeeed in good faith to sulaait the matter to mediation.
7he Disputants uill jointly appoint an aeceptable mediator and uill share equally in the eost of such mediatian. In the evmt
tM1e entire dispute is mt resolved within thirty(3D)celendar days from the date of written notice requesting mediation is smt
by one Disputent to the other(s), the mediation, unless oiherwise agreed, shall terminete. ihis section shell rrot alter any . .
��� date in this eontrect, unless otherwise agreed. ��r�
� 21. IIDDITIOMAL PROVISfONS: ,. -
See Addendum attached he�eto and incoiparated he�ein by refeience. •
22.RE[�lOIENDATidI OF LEGAL LWNSEL. By signing this doc�ment, euyer and Seller acknowledge thet the Selling Canparry or the �
. Listing Compa�ry has advised that this docu�reni has important Ieeal consequences and has recomnetded the examination of title
end consultaiion with Legel and tax or other counseL before signing this�ontract. ,
- ZS- 7EpMtlUStd1. In the event this eontract is termineted, all payments and things of vaWe received here�mder shell be ��
� returned end the perties ahal! be relieved uf all obligetions hereunder, subject to Section 19. �
� 24.SEt1ING CQMANY BRd�RR RELATIONSNW, The selling braker, Rober[D. Snatl , ard its salespersons have been engeged .
� as ewer's Broker. Sellirg Camparry has previously diselosed in writing to the Buyer thai different relationships are evaileble .
� uhich include buyer a9ency, seller agency, subagency, or transaction-broker. i
'. 25. NOTICE To 6t1YER. Arry mtice to suyer shall be effective when reeeived by euyer, or, if this boz is checked i_� when
• �. received by Selling Company.
�� Z6. NOTICE To SELLER_ Any notice to Seller shall be effeciive uhen received by Seller or Listing Canpsny.
27.IImIFIGTiqI OF TH15 CONTRAtt. No subsequent modificetion of arry of tM1e terms of this contract shall be valid, binding �
upan the parties, or enforcee6le unless made in uriting ard signed by the parties. �'�
28.ENT[RE lIGREEMENT. This contrect eonstitutes The entire contraci between the parties relating to tne subjeet hereof, a�d �
. any prior egreements pertaining there[o, whether oral or written, have heen merged ard integrated into this contraet.
2q- NO7iCE OF ACCEPTAMCE- COUNTERPARTS_ This proposal shall expire unless eeeepted in uriting, hy 8uyer and Seller, as ,
� � evidenced by their signatures belou, end the offering perty receives notice of such acceptance on or before
. 19(ACCeptence Deadline). If accepted, this docuaent shalt beeaae a contrect betueen Selter ard euyer. A copy of this
document mey be executed by each party, separately, ard uhen eech party has executed a eopy thereof, such copies teken together
shall 6e deemed to be a tult aM eaiplete contraet betueen the parties. . .
FOR THE BUYER:
��......� /T//_y�
Pit County Board of County Commissioners, Chanperson Dafe
rtkin County Courthouse
506 East Main Saeer
Aspen, CO 81611
APPROVED AS TO CONTENT:
���_���� �// �n� �' � .
� Pitkin County Open Space and Trails Board of Trostees Date v �
Chairperson � �-_
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389�88 01/19/9E @s:19F' PG 7 OF iS
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.4PPROVCD AS TO FORM: �y•,
�AD�im,l/1 �lit-�-- /,�� 5'
Pitkin Counfy tomey Date r
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Seller � Oate of s ler's Signature
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� Seller�s Address .
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� SelLer Dete of Seller's Signature
,�r,�1 ,�;��'�Sz��.�� d/�- C�C� G��oo,—����
SelleNS Address �
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7he undersigned eroker(s) �
6e�pery�confirns its Broker Relationship as set forth in Section 24.
� li� SelLin9 Co�enY ;��i� � Svv��.\�,�.�.�,��-I�ll 4�\�-e-���:.C.� �U L�,��(l'
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iNOTE Ctosinc I�utruetias shwld be sia�ed at the tiae this eontraet is sioned_ �
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389288 �D1/19/96 ��:19F' F'G B OF 15
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• ADDENDTJM TO VACANT LAND/FARM AND RANCH �
CONTRACT TO BUY AND SELL REAL ESTATE
�
Dated , 1995 , ''
.••�•
By: Pitkin County Boazd of County Commissioners,$uyer/Grantee, '
and Wallace Burtis and Do�aid Moor,Selter/Grantor(s)
� ADDENDUM to that certain VACANT LAND/FARM AND RANCH CONTRACT TO
BUY AND SELL REAL ESTATE dated , 1995, between PITKIN COIINTY '.
BOARIJ OF COUNTY COMMISSIONERS, Buyer, and Wallace Burtis and Donald Moor, 'Y
collectively"Seller", is entered into simultaneously with that Contract and is supported by the ;
same consideration,terms,conditions and covenants as set forth tfierein and herein. In the event '
of any inconsistency between the Contract and this Addendum,the terms of tivs Addendum shall '
govem and control.
1. Contin¢ent U�on BOCC Approval. This Contract is expressly contingent upon o�cial
approval by the Pitkin County Boazd of County Commissioners(BOCC)at its earliest available
regulazly scheduled meeting which occurs after the date upon which this Contract is signed by
the Pitkin County Open Space&Trails Board of Trustees,the Pitkin County Attomey and the
Seller. The parties understand and agree that such approval requires consideration of the Contract
at two readings at regular and official meetings of the BOCC, with a Public Hearing as the
• second of those meetings, and shall be subject to appticable provisions of the Pitkin County
Home Rule Charter and Cotorado Revised Statutes. Should this Contract not be approved by the
BOCC for any reason,this Contract shall become null and void upon the date the BOCC refuses
or fails to approve the Contract(unless otherwise mutually agreed by the parties hereto}and all
eamest monies shail be immediately retumed to the Buyer, �"'
- 2. Conditions of Title. The Seller shall execute a mechanic's lien affidavit in favor of
the Buyer and the tit[e insurance company and its ageat issuing the policy at closing. The
commitment shall be delivered to the Buyer together with legible copies of all documents of
record noted in ihe commitment as exceptions,including all plats. If the Buyer,in the Buyer's
sole and absolute discretion,does not approve the condirion of title as disclosed by the foregoing �
documents, then Buyer shall have the right to cancel the Contract and receive a retum of its
eamest money, in which event, the Contract shall be null and void. Buyer understands and
accepts that the Properiy has been assessed in Lake County,Colorado and that the title insurance
policy [o be delivered at closing will indicate the Property is located in such County, despite
Pitkin County's good faith belief,based upon its reseazch,that the Property is actually located
partially or entirely within Pitkin County,rather than Lake County;therefore this condition of
title shall not be reason for Buyer to validly terminate the Contract based upon a review of the
title and receive a retum of its earnest monies.
3. Seller's Representations and Warranties.
A.Seller warrants and represents that Seller is not now a party to any lirigation, `
and Seller knows of no litigation or threatened litigarion affecting the property or inclusions,and _
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389�88 ai/19/96 03:19G FG 9 �F 15
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' Seller shall give to Buyer prompt notice of the institution of any such litigation. '
B. Seller warrants and represents that,as of the date of closing,there will be no �.
delinquent bills for work,labor or materials done,performed ar furnished that would give rise ~�
to a mechanic's lien against the property. ."+,,.
4. Survival of Revresentations.Warranties and Covenants.
All representations and warranties made by Seller herein,including agreements and rights of both
• 5eller and Buyer shall survive at closing and not merge at closing.
5. Defiverv of Eamest Monev Closing Date and Extension of Closen�Date. The Eamest
Money referred to in the Contract will be delivered to Robert Small,Buyer's Broker,immediately .
following successful satisfaction of the contingency set forth in paragraph 1 of this Addendum.
The date of closing shatl be January 30, 1996. Should the contingencies described above not be
' met in time to meet the closing date set forth in the Conttact despite Buyer's best efforts,Seller
agrees to extend the date of closing,for up to a period of two months,i.e.no later than Mazch
30, 1996. Buyer shall notify Seller,in writing,of this extension of the date of the closing,by -
, no later than January 25th, 1996.
6. Foreien Person Transferor. Seller represents and warrants that Seller is not subject to
witi�holding as defined under InYemal Revenue Code Section 897(Foreign Person Transferor).
Seller agrees to execute an�davit to such effect at closing.
7. Telefaxed Documents. Par[ies agree that telefaxed,signed copies of both the offer and
acceptance and othar conuactual agreemenu pursuant to the Contract aze deemed effective and
binding upon the party so executing or accepting so long as an actual signature copy is
transmitted to the other parly as soon as practical thereafter.
� 8. Interest on Denosit. All earnest money shall be placed in an interest bearing escrow
account with interest accruing to the benefit of the Buyer,unless the deposit is forfeited by virlue
of the terms of the Contract Interest earned on the deposit shall inure to the benefit of the Buyer
if the transacrion contemplated by the Contract closes. If the Buyer,for any reason described in
the Contract,validly tertninates the Contract,which terminafion results in the Buyer being entided
to the retum of the deposit,then interest accrued thereon shall also be returned to the Buyer.
9. Colorado Withholdin�Requirements. The Seller has been advised that under Colorado
law,a title insurance company or other person responsible for closing the sale of Colorado teal
property may be required to withhold Colorado State Income Tax equal to the lesser of two
percent (2%) of the sales price or the net proceeds eamed from the sale of Colorado real
property. '
10. Successors and Assi¢ns. This Contract shall be binding on and inure to the benefit
of the heirs,executors,legal representatives,successors and assigns of the parties.
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3B9'�88 +pl/19/96 �D3:19P P6 1� OF 15 �
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11. otice. Any notice, demand, or document which either party is required or may '��''`�`�'
� desire to give, deliver or make to the other party shall be in writing and may be personally .�� `��'°�t�
delivered to or given by facsimile transmission or given by United States certified mail,return
receipt requested,addressed as follows: i=.: `..
,r.
��
To Buyer; Jane Ellen Hamilton '���'.�:;;
Chief Executive Officer
Pif[cin County Open Space and Trails
530 East Main Street,Suite 301
, Aspen,Colorado 81611 '�:,;'_?�
Facsimile Number: 970/920-5198 `-� '
-. Lx.,�'�,.. '�
TO S0II0i: ROBERT D. SMALL, BROKER (� , -', .
PO BOR 447 1,''
SILVERTHORNE, CO 80498 ;`
� 12. Miscellaneous.
A. Saturdav.Sundav or Holidav. If any time period referred to in this Contract shall end ?;�,
on a Saturda Sunda or Ie a[hoIida ,such time eriod shall automaticall be extended to the t
Y. Y g Y P Y L`
' first regular business day therea8er. ��:
� $. ControllinQ Law. This Contract sha[I be construed in accordance with and govemed j
by the laws of the State of Colorado.
C. Counterparts. This Contract may be executed in sevezal counterparts and, after
execufion and as executed, shall constitute an agreement binding on all of the parties, �"
' notwithstanding that all of the parties aze not signatory to the original or the same counterpart. '!�
D. Enfire Aereement. This Contract contains the entire agreement between ihe parties, ,
and supersedes all prior understandings,agreements,negotiations and representations,written and `
oral, not cantained herein. It may not be amended or modified, except by an agteement in `
writing signed by both parties hereto.
E. Attornevs' Fees. In the event of any action for breach of,to enforce the provisions
of,or otherwise involving this Contract,the court in such action shalI award a reasonable sum
as attorneys' fees to the party who, in light of the issues litigated and the court's decision on
those issues,was the prevailing party in the action. �
�
; •
(SIGNATURE LINES BEGIN ON NEXT PAGE) '
�F
389�88 01/19/96 03:19P PG 11 OF 15 �'
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'KIN COUNTY BOARD Ofi COUNTY DATE ,
COMNIISSIONERS . '��,
,Chairperson '
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(
APPROVED AS TO CONTENT: �-^'
. �"/��,�.,.�,J,�� /i �� S°s' � �.
PITKIN COLTNTY OPEN SPACE AND AATE
-; TRAILS BOARD
� William E.L.Fales,Chairperson '
� �
� APPROVED AS TO FORM:
� �(.� � /.2��9�
• i DATE
' Pitkin County Attorney
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. SELLER DATE
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., SELLER DATE
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38928B 01/19/96 �s:19F' F'G 1� OF 1;,
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. � D E C O n 7he primcd pontons af this form,except(ilalicized) ,
7 �`��� (di[ferentiatcd)additiont,havc been approved by
� � �,„ �� f�� ' the Colorado Real Eatate Commission.(BC37-9-95) �.
� .......:�i_-^��'��:._.._.....f
'l.
TH[S FORM HpSIMPORTANT LEGAL CONSEQULNCL•S Ai�'D THE PARTIES SHOULD CONSULT LEGALAND TAX OR OTHER COUNSEL '
BEFORE SIGNIhG.Compensation charged by rcal es�ale brokcrs is not set by iaw.Such charges arc cstablished by cach rcal u�ate brokec.
DIFFERENT HROKHRAGE REIATIONSHIPS ARHAVAiIABLE WHICH iNCLVDE BUYPRAGENCY,SELLERAGENCY,SUBAGENCY,
ORTRANSpCITON-DROKER � -
EXCLUSIVE RIGHT-TO-BUY CONTRACT T
(BUYER AGENCY)
, ASPEN ��o�do November 30 �q 95 _
Pitkin County Board of County Commissioners (•Buyer^)appoims
vamc(s)oI euycr(s)
Robert D. Small, 373 Lagoon Lane, P.O. Box 447, Stiverthorne, CO 80498 �•g�okcr")asBuyer's
Bmkcr's Namc and Addmss
exclusive agent for the pusposc of reprcsentiag Buycr to acquire imcrests in rcal propcny az indicatcd in Scc[ion 3("Property")and under thc tccros sperified
hercin.
1. Effcct of Asclusive 6uver Aeencv Cootract.Urokcr is the limitcd agcnl oC Duycr and will reprcscn[only Buyer.
Dy cngaging Bmkcr as Buyers ezelusive agcnt,Buycr agrccs to conducc all negatia�ions[or Propcny through Smkcr and�o rcfcr to Brokcr al{inqvires
, reteived from rwl atate brokers,salcspersons,pmspcetive sellcrs,or any other source during the�ime�his wntract is in effec[..Uuyer agrces t6at any
compensa�ion to Hrokcrwhich is rondi[ioned upon[he acquisi�ion by Buyer of intercsu�u rwl property,whether by Icase or purchase(colleceivcly
'Purchase").will be eamed by Broker whenever such intereses arc acquired by Buycr dircctly or indirccUy,without any discount or allowanec for am•
. c(fons made by Buyer orany othcr pcxson im m�neaion wi�h�he acquisition o[such interuts by Duycz �
2. Purehase.•Puichase o!the Propeny"or"Pumhase"mwns the wlumary acquisi�ion o(any inivcst in�he Properry or the wlumary crca�ion of the
rig6t w acquim any interes[in the Ymperry(ineluding a comract or lusc).
3. Prooertv.The Propenyshall su6stantially meet the tollowing requircments or be othenvise attcptable to Buycr. �
- Orphant BoY Lode MininQ Claim United States Mineral Survev Number 4425. In the Lake
Creek Mining District, Lake County, Colorado.
. J. Duration ofAeencv.BmAcr's authorirvas Auycr's exclusive agent shall bcgin SeptetObeT 1 .�g 95 ,and
shallcontinueuntilthecarlictof Septemb0t 1 ,79 .orcamplctionof�hcacquisiiianofthel'mpen}•.
� 5. Brokers Services.Dmker will excrcisc rcasonable skill and care for IIupcq and makc rcasonable ef(ons to locme propeny.
� (a)Brokerwill promoic the intcres�s o(lluyerwi�h the utmost good faith.loyal�y.and fideliry,including bw not limited to:
(1)sceking a price and[erms whith are acecplaAle to[3uycr,ucepl Ihat Broker shall not he obligaled�o uck other pmpenics whik Buver�s u
parry toa contrrc�tn purchasc Propcny,
, (2j procuring acccptancc of any oticr w purchasc proprny and�o assist in thc complction o(thc transaction;
� (3)prescnting all o(frrs ro and(rom Buycr in a limely menncr.rcgaNlcss o(whcthcr liuycr is aiready a party 10 a eontract to purchasc
. PtoPe[ty; '
(-0)disclosing to Buyer adveru material facts accually known�o Drokcr, •
(5)munsding�uycr as m any ma[criai bcncfiis or risks of thc transac�ion which arc anually known ta Broker,
(G)advising 13uycr to obWin ezper�ad�ice as tn mamrial manen aboul�rhich Umker knows buI the specifics of whieh are beyond lhe expeniu
ot Brokcr. - � ,
(7�accoun�ing in a timcly manncr(or all money and propcny rcceived;and
(8)infortning Buycr that lluycr may be vicanously hable for the u�s of Broker when Bmker is aeting wilhin the seope of the agencp
rcla�ionship. . ,
(b)13rokershall not dis[losc to lhe scllcr or any alhcr third pany.without thc informcd mnsent of 6uycr:
(1)tha�Iduycr is willing to pay more than�hc purchase pricc for I'mpen�c -
(2)what l3u�er's mocivacing facror(s)arc; �
(3)that Duycrwill agree w financing terms other than those offered;
(4)any ma�crial informaiion about Duycr unless disclosure is required by law or failurc io disclose such informa�ion woul0 cons�imm(raud ur
dishonest dealing;and �
(5)any faets or suspicions regarding eircums�ances whieh would psychologically impact or stigma�ize Propeny.
(cl Broker shall disclose�o any pzospee�ive setler all adverse material tac[s ac�vally known by Srokcr,including but not limited�o adverse material
facts concerning I3uycr's financial ability to perform the terms of the transaetion and whether Buyer in�ends to ottupy Propeny as a principal
msidrn[c. •
(d)I3roker shall make submissions w Suver drscnbin�and idcr.:ify9ng piupenies appearing to substantiaily meet the criteria set fonh in Senion 3.
� I 6. Costs of Services or Products Obuined 6om Outside Sources.Uroker w'ill not ob�ain or oNer protluc�s or servicrs from outside sourccs unless Uuycr ,
has agreed to pay for them pmmptly whcn dua(Lxamples:survcys,sail msis,ra0an tesis,/iue rcponz,pmpeny inspeclio�s.)
^ •I 7, Comp nwtiao�o Hmker.Im m�sidcn�ion of�he seeviccs to be pertortnctl by Brokcr,IIuyershall pay Bmker as follows:
�Insuuceion:1(any o[ihe fortns of mmpensaiion sn fonh in subsec�ions(6),(c)N�Ad)will�ot be u8ed,write"N/A'in�he blaak(s)of such subsectioo(s).�
(a)Suceecc Pee.Smkcr sha0 bc paid a fee equal�o the greater o(S 96 of Ihe purehase pritt.The suceess Cee
is m�ditioned upon the Purehase of the Property or�he acquisition by Buyer of propeny not in mmpliance with tha requi:emen[s speeified in Section ,
3 bu[within the purview of this rnntract•Tlus ke is payable upon ebsing of the tmosattion(s),subjcet to the prwissiona of Sectiop 8.This[ee shall .
app�y ro pmpeny mn[rae�ed[or during the original tum o[[his mntnc[or aay exeension(s)and shall also apply to Propeny mntmcted for within .
No.EC 1�-9-95 BL7YHRAGENCY Page-1-
ISG-MeAllistar Publishing(B00)33b1027 Prcparcd at Psp�n Pitkin Howing Authority,Aspen CO(303)920-5054
� ' 389�88 01/19/9E' '��:�5P F'G 1� OF 15
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'�'i he primed portions o(Ihis torm,escept(italicizcd}(di({crcnuated)additions.have hecn a�rwed hy the Colorado Rcal Es�ate Commissian(UCIZ9-95)� ,
0 days atter this mntrret ezpins or is teanimted(Holdaver Pcrio�if tbe Propcny was shown or speriflcally presrn�ed in writing�o .
Buyer by Broker duringtheariginal tezm or any extenaion(s)of lhe term ot this romract;pmviJed,howevcr,t6a�Buycr ahall owe no crommission to � �
Drokcrundcr�hissuhsectianifa�ommiuionisearncdbyanmherficrnsedrwtes�aicbrokcraningpursuanttoanczclusivcright-to•buymn�rattoran i� '�-
- exclusiveageneyliuingmmractentcttdimoduring�fieliWdovcrPcrind. � 'ti•
Buycr is obligated to pay B�okei s(ce.Howcvcr,Urokcr ia authorized and instme�ed to rcquat paymrnt of l3roker's fce in any oC�he following � .
indiwted methoJs: �
r . { .
❑flY LISt(NG BROKER.
[]!lY SELLER FAOAS 7'FILTRANSACI'ION.
❑OTH6R:
`•_r .
. (b}HonrlvPee.Buycrshail pay to Broker a�thc ru�e of S N A per hour for time spent by llroker putsuant to this mntract.w 6c paid to `�.��' _.
Brokerwhcn billed to Buycr. (-,
(c)AeLioer Aee.Buyershall pay Broker s nonrefundabie n�ainer he of S N/A duc and payable upon signing of this toatract.'ll�is N . � �
amovnt []sAall ❑shall noi bC rredited against fecs payablc to Orokcr in�his Settion 7. f�� ,
(d)Other. �� �
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. 8. Failure to Close.I(a seller fails ro ckxe wi[h no fault on the part of Buyer,�he succcss fee pmvided in Sectiun 7(a)shall be waived.If Buyet is at j, _
fault,sueh success(ee wi11 not be waived,bm will be Juc and payable immedia�c�y.Broke�shall noi 6e obligated io advance fnnds tor 8nyer. �, ��
7. Dieeloeurc of Bml[er's Aole.At the eadiest¢asonable opponunity,Brokttshall inCo[m any ptospeccivc sellerz or theirbrokers with whom Braker ►.
nego[iatu pursuant ro this mntract that Broker is attingan behalf oCa 9uycr-principal. S �'
,'7
. 10. Dialoeum of Huver'e Identi�v.Broker �]docs ❑daes wt have Buyec's pem�ission to disclose Buycr's idcntity to thisd panics wiehou[prior �
- writtcn ronsent af Duycr. �'•,..
11. DualAeenev/Transaction-Hroker.lCawntttrtDualAgencyorTnnsactioo-BrokcrAddrndumissignedbyDuyer,BmkermayshowIIuycrp�openia '��
listcd by Broker.
7
12. OtherBuvers.Bmkermayshowpmpeniesinwhich6uyuisin�erestediornherprvspeGU�(ebuycrswithowbrcachinganydmyorobliga�iontoBuycc t
U. Auienment bv Buver.f�o assignmcnt ot Buycr'S ri�ts or obligalions under�his rontract and no assignment of rights or obligations in propcny
obtaincd(ur Buyer urtder this mntract shall operatc to de(cat any ot Broker's rights. -
I4. NondiseriminaKoo.'11ie partics agrce not to diurimiaate unlawtullyagainst any prospcctive sciter bceaux of the racc,ttecd,mlor.scz.marital
staius.national origin,familial s�atus,physial or mcntai handicap,religion orancestry ot such pe2on.
]S. RemmmendaHon of 4eal Counsei,Dy signing this document,lluyer acknowledgcs that Ihe Btokcr has advised that this dxumcn[6as importaN
legal Consequences and has recommendetl ronsuUation with Icgal and�az or ahcr counscl,before slgning�his mmracL �
i
' 1G. Ahernative Disoute Resolution:Mediatioo.If a dispuu arises rclating to th�s comract,and is m�resolved,the panics inwlved in such dispum
(Uisputants)shall Cast praceed in good taieh�o submit the matter to mediation.The Dispmanu will joimry appoin�an acceptable mediaror and will sharc
equally in the cos�of such mediatioa In the event the catirc d'upute is�wt ccsolved within thirty(30j ca{endar 6ays from the date wri[ten notice requesting �
mcdiation is scN hy onc Disputants to Ihc other(s).�he mcdiation,unless othc�aviu a�ccd,shai{iccminatc.This scccion shall not aher arry date in
this contract.unlcss othcrwac agrccd.
17. AttomevPeea.in cue ot arbitration or litigadon bnwcen Buyer and Uroker in�hcir respenive caparitics.thc partics agice�hat cos�s anJ rcasonablc
� aftorneq[ces shall bc awardcd ta thc prcvalling parcy�.
, Ik. Additioeal Provi:iona.fl'hc languugc ol these adclitional prw�isions has no�becn approvcd hv�hc Colorado Rcal L'nmc Commission 1. �1
Pitkin County will pay the named Broker an eight percent (8�) Success Fee upon I
purchase of the Orphant Boy USMS 1/4425 ,�
19. Modi6ntion nf this Contran.no:ubsequent modifieation oi any of the mrms of this commet shall be valid.binding upon the panies.or enlorewble ��
unkss in wming and signcd by the panies.
?0. Entire Aeieement.This romran constimtcs the eniire agreemem beeween the panics and any prior agrecmems.whether oral or wnncn.ha�•c Acen �� ,
mergcd and integra�cd inm�his con[raci. �-�� , �
?i. Counteroarts.It more[han one person is namcd as a Auyer hercin.Ihis tontract may he exccutcd by wch Duycr.IndiviJually,and whcn so exccumd. �
Such copics takrn togcthcr shall bc JccmcU�o bc a full and mmpktc contrac[bcnvccn Ihc papics. �'
�2. Co o Conmct.Buy�er acknowledgu receipt of a rnpy af this ron�ran signed 6y 8rokee .� � � �
;�,
Acttpted:
llrokcr. ___ nuyer. <�+�"^�'��� i''
\�.
Robeit IJ, Small „y.�,; Pitkin County Board of County Commission s �i
eY ic se C. Ire and, Chairperson t
PO Box 447 506 East Main Street �
paamss: Silverthorne CO SD498 nadrcss: Aspen CO 81611 --
Phone: 970-4b8-2079 phone: 970-920-5200 �
Na 8C17-9-45 BiJYER AGENCY pag�Z ~
1SG-McAllistes PutrUshing{8U0)336-1027 Pmpana at Aspon Pitkin klausing Auttwdty,.4spen CA(303)9245054
389'�88 si/19/96 0.3:19G PG 14 OF 15 ,
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