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, #358454 Ui/U1/93 16:59 Rec S.C�6 gK 716 PG 819 � ' � t.,�
5ilvia Davis, Pitkin Cnty Cler4;, 1`ioc �.Ol� ��'^ c�+: {,';
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THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER �� •��
COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. �r=•�`:,
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- VACANT LAND/FARM AND RANCH ;,'�� ;��
CONTRACT TO SIIY AND 88LL REAL BBTATB _
(FINANCING SECTIONS OMITTED) ` � '
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JuIIe 4� 1993 ?=,"
1. P19RTIE8 AND PROPERTY. Pitkin Count $oard of Count i`'""'' �
Commissioners Y y �� ,� �
, [Purchaser], agrees to buy, and the undersigned i``c. -
seller(s), Craig L. and JoAnn Meredith, Joint Tenants [Seller], ;':� '
agrees to sell, on the terms and canditions set forth in this k:: ;`� .
Contract and the Addendum hereto, the following described real t;,�`�
; estate in the County of Pitkin, Colorado, to wit:
A parcel of approximately 4.01 acres located west of Highway
133 and astride Perham Creek and consisting of the southernmost
4.01 acres of the Seller's property Iocated in Section 21, Township ,
9 South, Range 88 West, in Pitkin County, Colorado, as more fully ' �`.'
shown and described on Exhibit A, attaohed.
2. PIIRCHASE PRICE AND TERMB. The total purchase price shall be ��,�
$45,000, payable according to the terms below: ��
(a) Barnest Money. $ 4,500.0o in the form of wired funds, as ,;;
earnest money deposit and part payment of the purchase price,
' payable to and held by Stewart Title, escrow agent, in agent's
trust account on behalf oP both Seller and Purchaser. Agent is
authorized ta deliver the earnest money deposit to the closing -?�
agent, if different, at or before closing.
(b) Cash at Cioaing. $ 40,500.00 to be pai.d by Purchaser at
closing in cash, electronic transfer funds, certified check, ��:.'.;�
savings and loan teller's check, or cashier's check. ';�•�'
" � 4. GooD FIINDS. All payments required at closing shall be made
in funds which comply with all applicable Colozado laws.
5. NOT ASSTGNABLB. This contract shall not be assignable by i'
Purchaser without Seller's priar written consent. Except as so
restricted, this contraot shall inuxe to the benefit of and be
bindinq upon the heirs, personal representatives, successors and
---- assigns of the parties.
6. BvTDENCE OF TITLE. Seller shall furnish to Purchaser, at ��
Seller�s expense, a current commitment for owner's title insurance °;
\ policy in an amount equal to the purchase price. Said commitment
� shall be furnished no later than fourteen (14) calendar days from ,
' the final execution date of this Contract by the Pitkin County
� Commissioners. Copies oE instruments (or abstracts oE instruments)
listed in the schedule of exceptions (Exceptionsj in the title
insurance commitment will be furnished to Purchaser at Seller's :�
• expense at the time of receipt of title insurance commitment. This �
requirement shall pertain only to instruments shown of record in :�
the office of the clerk and recorder o£ the aesignated county or �} �fx-
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counties. The title insurance commitment, together with any copies ��'-
or abstracts of instruments furnished pursuant to this section 7, �:
constitute the title documents (Title Documents). Seller will have ;�
._ , the title insurance policy delivered to Purchaser as soon as
practicable after clasing and pay the premium at closing. '�.��'
7. TITLE. (a) Title Review. Purchaser shall have the right to -'
inspect the Title Documents or abstract. Written notice by �,..
Purchaser of unmerchantability of title or of any other
unsatisfactory title condition shown by the Title Docwaents or �`?:
; abstract sha21 be signed by or on behalf of Purchaser and given to
I Seller or Listing Company on or before seven (7) calendar days �:'.�� �
i after Purchaser's receipt of Title Documents or abstract, or within ' "
� five (5) calendar days after receipt by Purchaser of any Title �'�� •
Document(s) or endorsement(s) adding new Exception(sj to the title .
j commitment together with a copy of the Title Document adding new
Exception(s) to title. If Seller or Listing Company does not
receive Purchaser's notice by the date(s) specified above,
Purchaser shall be deemed to have accepted the condition of title
as disclosed by the Title Documents as satisfactory.
, (b) 24atters Not Shown by the Public Records. Seller shall �
deliver to Purchaser, on or before the date set forth in section
7, true copies of all lease(s) and survey{s) in Seller's possession
pertaining to the Property and shaZ2 @isclose to Purchaser all
' ` easement, lien or other title matters not shown by the public
' record of which Seller has actual knowledge. Purchaser shall have
i the right to inspect the Property to determine if any third
1 party(s) has any right in the Property not shown by the public
recards {such as an unrecorded easement, unrecorded lease, or
� boundary line discrepancy). Written notice of any unsatisfactory �
� condition(s) disclosed by Seller or revealed by such inspection
� i shall be sigried by or on behalf of Purchaser and given to Seller
� '��;� � or Listing Company on or before July 20, i993. If SeZler or :
'-� Listing Company does not receive Purchaser's notice by said date,
Purchaser sha11 be deemed to have accepted title subject to such
rights, if any, of third garties of which Purchaser has actual
! knowledqe.
I (c) Riqht to Cure. If Seller or Listing Company receives notice
of unmerchantability of title or any other unsatisfactory title
-- -= - condition(s) as provided in subsection (a) or (b) above, Seller
shall use reasonable effort to correct said unsatisfactory title
"- condition(s) prior to the date of closing. If Seller fails to
correct said unsatisfactory title condition(sj on or before the
� '• date of closing, this contract shall then terminate, subject to
� ; section 15; provided, however, Purchaser may, by written notice
i received by Seller or Listing Company on or before closing, waive •
i objection to said unsatisfactory title condition(s).
8. DATE OF CLOSING. The date of closing shall be September 1, �
1993. The hour and place of closing shall be as designated by the
Seller. The date, time and place of closing may be changed by
; mutual agreement of the parties at any time prior to closing
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' � •� #35H454 Oi/OS/93 16:59 �ec $.d0 BK 716 PG 821 ��5•';
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without penalty. .�;
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9. TaANBFER OF TITLE. Subject to tender or payment on closing
_. as required herein and compliance by Purchaser with the other terms
and provisiohs hereof, Seller shall execute and deliver a good and �.
sufficient general warranty deed to Purchaser, on closing, -
conveying the Property free and clear of all taxes except the
general taxes for the year of closing, and except none; free and �
clear of all liens for special improvements installed as of the j�' '
date of Purchaser's signature hereon, whether assessed or not; '
' except distribution utility easements, including cable TV; except r� .
4 those matters reflected by the Title Documents accepted by �
i Purehaser in accordance with subseetion 7(a); except those rights,
� if any, of third parties in the Property not shown by the public � ^
j records in accordance with subsection 7(b); and subject to buildinq !
! and zoning regulations.
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` 10. PAYMENT oF ENCIIMHRANCEB. Any encumbrance required to be paid
shall be paid at or before the time of settlement from the proceeds
of this transaction or from any other source.
11. CLOSING COSTS, DOCIIMENT3 AND SERVICEB. Purchaser and SelZer
shall pay their respective closing costs at closing, except as
, otherwise provided herein. Purchaser and Seller shall sign and
' complete all customary ar required documents at or before closing.
Fees for real estate closing and settlement services shall not
; exceed $300.00 and shall be paid at closing one-half by Seller and
one-half by Purchaser.
! 12. POSSESSION. Possession of the Property shall be delivered �
' to Purchaser with: delivery of deed. Subject to the following
; lease(s) or tenancy(s): none.
� �Q � If Seller, after closing, fails to deliver possession on the date
`'-`'i herein specified, Seller shall be subject to eviction and sha17. be
additionally liable to Purchaser for payment of $200.00 per day
from the date of agreed possession until possession is delivered.
13. CONDITION OF AND DAMAGS TO PROPERTY. The Property and .
Inclusions shall be conveyed in their present condition, ordinary
-------) wear and tear excepted. In the event the Property shall be damaged
by fire or other casualty prior to time of closing, in an amount
-� of not more than ten percent of the total purchase price, Seller
shall be obligated to repair the same before the date of closing.
'� � In the event such damage is not repaired within said time or if the
` ! damages exceed such sum, this contract may be terminated at the •
� option of Purchaser. Should Purchaser elect to carry out this
contract despite such damage, Purchaser shall be entitled to credit
� for all the insurance proceeds resulting from such damage to the
i Property and Inclusions, not excee@ing, however, the total purchase
• price. Should any Inclusion(s) or service(s) fail or be damaged
i between the date of this contract and the date of closing or the �
date of possession, whichever shall be earlier, then Seller shall �_ti
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#358887 07/15/93 16:43 Rec �.QO BK 718 P6 100 '?`� '
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• ' •' #358454 U7/t71/93 i6:�9 Rec �.t�C� E�K 716 P� 822 't�•��%'��
Silvia Davis, Fitkin Cnty Clerk, Doc $.UO �`;;�M1�''
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be liable for the repair or replacement of such Inclusion(s) or �; ,�
service(s) with a unit of similar size, age and quality, or an � ��:
equivalent credit, less any insurance proceeds received by � ��
Purchaser covering such repair or replacement. The risk of loss ���,� -'-
for any damage to qrowing crops, by fire or other casualty, shall ' � '; �
be borne by the party entitled to the growing crops, if any, as 1�.._
provided in section 2 and such party shall be entitled to such ;'�
insurance proceeds or benefits for the qrowing crops, if any. `''�`
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14. TIMB o8 SSSENCE/REM8D2E8. Time is of the essence hereof.
Zf any note or check received as earnest money hereunder or any �':irR`.�
other payment due hereunder is not paid, honored or tendered when �; ,
+ due, or if any other obligation hereunder is not per£ormed or �,"�--:: .
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� waived as herein provided, there shall be the following remedies. ,
, (a) IF THE PIIRCHABER IS IN DEFAIILT: IF TAE BOX IN SUBSECTION (1) t• .�
I IS CHECKED, SELLER'S REMEDIES SHALL BE AS SET FORTH IN SUBSECTION
; (1) [SPECIFIC PERFORMANCE]. IF SAID BOX IS NOT CHECKED, SELLER'S �7
REMEDTES SHALL BE AS SET FORTH IN SUSSECTION (2) {LIQUIDATED
DAMAGES].
%(2) Liquidated Damaqes. All payments and things of value `-
received hereunder shall be forfeited by Purchaser and retained on
behalf of Seller and both parties shall thereafter be released from �-
all obligations hereunder. It is agreed that such payments and �
. things of value are LIQUIDATED DAMAGES and (except as provided in
# subsection (c)) are SELLER'S SOLfi AND oNLY REMEDY for Purchaser's �
3 failure to perform the obligations of this contract. Seller !:
f expressly waives the remedies of specific performance and -
� additional damages. . �
' (b) IF SSLLER ZS IN DEFAOLT: Purchaser may elect to treat this �
contract as cancelled, in which case all payments and things off
� value received hereunder shall be returned and Purchaser may
� � recover such damages as may be proper, or Purchaser may elect to �
'�;�� treat this contract as being in full force and effect and Purchaser
shall have the right to specific performance or damaqes, or both.
(c) COSTS AND ERPENSES. Anything to the contrary herein
notwithstanding, in the event of any litigation or arbitration
arising out of this contract, the court shall award to the •
prevailing party all reasonable costs and expense, including � :
attorney fees.
15. EARNEST MoNEY DISPIITE. Notwithstanding any termination of
this contract, Purchaser and Se12er agree that, in the event of
�� any controversy regarding the earnest money and thinqs of value _
� held by escrow agent , unless mutua2 written instructions are
received by the holder of the earnest money and things of value, ,
� escrow agent shall not be required to take any action but may await
any proceedinq, or, at broker�s or closing agent's option and sole
discretion, may interplead all parties and deposit any moneys or
things of value into a court of competent jurisdiction and shall
recover court costs and reasonable attorney fees. ,
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#3588H7 47/15/93 16:43 Rec �.00 $K 71B PCa !O1
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16. INBYECTIODT. Purchaser or any designee, sha21 have the right �':..t�
to have inspection(s) of the physical condition of the Property and . "�,
Inclusions, at Purchaser's expense. If written notice oP any ' ' '
- unsatisfactory condition, signed by Purchaser, is not received by ;���'.�.;' ,
Seller or Listing Company on or befor���, ..: ° 1993, the �. ;� �.
Parties shall proceed to c2osinq as provided for e sewhere in this �t,-
Contract. �%:'
17. ADDITIONAL PROVISIONB: �.�•� .
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see Addendum attached hereto and a part thereof. R:�_.�: �
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� 18. RECO2�IIdENDATION 08 LBGAL COIIN�BL. By signing this document,
� Purchaser and Selle�" acknowledge that the Se2ling Company or the
� Listing Company has recommended that Purchaser and Seller obtain
o thei own le al counsel re ardin examination of �!•�.~
the advice f r g 4 9 ;w
� title and this contract. "
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19. TERMINATION. In the event this contract is terminated, all
payments and things of value received hereunder shall be returned �. � .
i� and the parties shall be relieved of all obligations hereunder,
' „ subject to Section 15. �_
20. NOTICE OF ACCEPTANCS/COUNTERPARTB. If this proposal is ;�:
. accepted by Seller in writing and Purchaser receives notice of such �
acceptance on or before d�e-4���x" 1993, this document shall '
become a contract between Seller�an � urchaser. A copy of this
document may be executed by each party, separately, and when each �'
� party has execnted a copy thereof, such copies taken together shall �
be deemed to be a full and complete contract between the parties.
i
� FOR THE CHASER:
� � �� l-��
HAIRPERSON, DATE
� PITKIN CO P N SPACE AND TRAILS HOARD
I �" -�`�j .
! �pI � DATS
___� • Pitkin County Board of County Commissioners
Pitkin County Courthouse
� 506 East Main Street, Aspen, Colorado 81611 , 1`
„ i STATE OF COLORADO )
) Ss.
�.. i COUNTY OF PITKIN )
! Th� reqoing instrument was a�?�►owlgdg eEore me this �G_� �
I day o�,.. � i ,3_ by l.7-c.�C �Gr.�,c. �. ..
! ' _�r?4=my nd and official sea1. (
;�: (� i's expires: �-aG-9`� , �
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(TO BS COMPLETED BY SELLER AND SMOTHERMAN AND ASSOCIATES, INC.] �:; ,�•
22. ACCSPTANCB/COMMISSION. Seller accep s the above proposal this -�:,�•.�•
� day of _��� . 1 Seller shall pay to �.,..,,i a
- the List ng Company a commission of 10 � of the gross •�' �
_�,,.. ,. ,.
; purchase price or as aqreed upon between ',.'- ��i,�
� Seller and Listing Company for services in this transaction. in ��:;c.., ,:
! the event of forfeiture of payments and things of value received '�`��
i hereunder, such payments and things of value shall be divided ;;.;:' . `
� between Listing Company and Seller, one-half thereof to Listing ,-�d`,;�. •:
Company, but not to exceed the commission, the balance to Seller.
SELLER(S): :_�.'����::
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, r �'"--�";��he f r. going instrument was ac�owledged before me this /-?�'
� }r��Y:.Qf.. � . lg� bY /"r—_�_i s MG,-r�.c�ai
Witness my hand and officiaZ seal.
� My commissio expires: 9 ....a/� . �"z.>'
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T foregoing instrument was knowledged_1�efore e this �j :
� daY o , 19� b��j�y�p Jt D ,�:/E� '-
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#356454 07/�1/93 16:59 Fec �.UO $Y. 7i6 F'G 825 `�2,.y;
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ADDENDUM TO VACANT LAND/FARM AND RANCH � �"
CONTRACT TO BUY AND SELL REAL ESTATE %�'• �
��:'y;;'..C.
- Dated June 4, 1993 �� '" ��
By: Pitkin County, Purchaser -c'"',•';,�'
at�d Craig and JoAnn Meredith, Sellers -
1. Seller represents and warrants that he is not subject to
withholdings as defined under Internal Revenue Code Section
897 (Foreign Person Transferor) . Seller agrees to execute an �a��:- �-
affidavit at closing stat3nq that he is not a Foreign Person .
Transferor. ����`'��
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; 2. Parties agree that telefaxed� signed copies of both the offer '�
.s`,;. ;"
{ and acceptance and other contractual agreements pursuant to •��..
the Contract are deemed effective. '�`''
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3. All earnest and escrow money shall be placed in an interest t'�.7,;
; bearing account with interest accruing to the benefit of the ;+.r
E Purchaser. The earnest money shall be deposited with Stewart `•ti'
; Title by Pitkin County Commissioners upon their appraval of
this Contact. Earnest money and interest thereon will be fully �:{� '
refundable to the Purchaser if the actions described in
Paraqraphs 5, 6 and 11, below, are not approved by the Pitkin � ,t;;;�
' County Commissioners prior to the closing date.
4. This Contract shall be binding on and inure to the benefit of -
i the heirs, executors, legal representative, successors and �t
� assigns of the parties.
� :r.
± 5. This Contract is expressly contingent upon its official �+��
agproval by the Board of County Commissioners at their '��'�
" � earliest feasible regularly scheduled official meeting
following execution of this Contract by the Seller and the
Purchaser as represented by the Pitkin County Open Space and �
Trails Board of Trustees. Parties understand and agree that ' ,
the Contract will be presented for approvai at two regu2ar and `
official meetings of the County Commissioners, the second of
those to include a Public Hearing. The Parties further
--� understand and aqree that subdivision or exemption from
subdivision and rezoning as per Paragraphs 6 and 11, below,
iwill be required prior to closing. ,�
� 6. Purchaser shall be solely responsible for processing and �i
` obtaining any and aZl appropriate land use approvals pursuant
to the purchase at no cost to the Seller, including .
Subdivision or Exemption from Subdivision and rezoning as
noted in Paragraph li, below.
7. Prorations: General taxes for the year of closing, based on ��
the most recent levy and the most recent assessments, rents,
water and sewer charges, if any, sha21 be prorated to the date �
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#358887 07/15/93 16:43 Rec �•�Q $Doci6.O�G 104 �
3ilvia Davis, Pitkin Cnty Clerk,
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of closinq. Said proration shall be deemed to be a final �.�;,.,.��
settlement of taxes due, with any further tax charges or , k,
credits, upon determination of final 1993 taxes, to be
provided by or to the Purchaser. Any sales, use and transfer �'���� ,:;,„
�- tax, including all real estate transfer taxes, that may accrue '.
because of this transaction shall be paid by the Seller. i�r�t:.-�
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8. "Conditions of Title": If Purchaser approves of condition of
title, or any objection made is cured or subsequently waived �.Y-.`'`�' '
by Purchaser, then upon closing, title to the real property
sub'ect onl to the lien for current taxes and a '��<'ti� ,
7 y , pproved or
' waived exceptions shall be insured by a standard owner's
i policy of title insurance at the cost of the Seller. Such
title policy shall protect Purchaser from any claim arising '` � •
� from any mechanic's liens asserted against the property for ,j:�.
� work which occurred prior to closing (excluding work performed '� `
at the direction of the Purchaser), and shall delete the :i�
j standard exceptions 1 through 6 on Schedule B of the standard
; title insurance commitments. Said title policy shall also
� provide full survey protection if a property survey as :`� �
described in Paragraph 13, below, is produced and deemed �:.�,
! � acceptable to the Seller and his Title Insurer prior to
closing. ,:t,�;•
9. Survival of Representations, Warranties and Covenants:
� All representations and warranties made by Seller ;t,''..
herein, including, agreements and rights of both Seller
� and Purchaser shall survive at closing and not merge at ��
closing. :,
^a�:�
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Seller warrants and represents that Seller is not now .
; a party to any litigation, and Seller knows of no litigation
_ � or threatened litigation affecting the property or inclusions,
� and Seller shall give to Purchaser prompt notice of the
� institution of any such litigation. �
Seller warrants and represents that, as of the date of �
closing, there will be no delinquent bills for work, labor or �
materials done, performed or furnished that would give rise
to a mechanic's lien against the property.
I10. Trailhead Development:
; Seller acknowledges that Purchaser is purchasin the
- for the ur ose of 4 property
p p providing to the public vehicular access
,�� t to a trailhead, to be developed and maintained, by the U.S. �
" Forest Service in cooperation with the Purchaser, for the
Perham Creek Trail. Nothing in this Contract shall limit or
constrain the Purchaser's ability to proceed with said ;�,
development in cooperation with the U.S. Forest Service. r r
e�r,w�. �
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11. Subdivision and Rezonin '��' ��
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Purchaser and Seller acknowledge that the subject property „ .�._,�;*
will be subdivided from the fathering parcel. This
subdivision or exemption from subdivision will be accomplished �`'�'�� +� ,
solely by and at the expense of the Purchaser. It is further '.
understood that the Pro '�K �
perty wi22 be rezoned to Public through
f County Special Review to allow for the creation of a non- ;s;.?
conforming lot, which will also be accomplished solely by and ' •-r::,,,; •
at the expense of the Purchaser. Zt is the intention of the � •�'"���
`• Purchaser to complete the subdivision and rezoning processes .:;.:s:R,: ��.
� following Contract approvaZ by the County Commissioners. It ���;._;�,_.•;
is understood that closing is expressly contingent on xs
completion of subdivision and rezoning. �.x�`.;,.,- .,
e=: .
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12. Easement Retained: i: ..
All utility easements on the subject property will be I�.''�`
maintained as to pwnership and use. Seller agrees that the �`�'`• '�:T
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final location, design and use of any easement retained will E-
not unreasonably interfere with or damage use of the property
hereby acquired by the Purchaser. The Seller may also retain �,;� .+
, a perpetual easement twenty-four {24) feet in width, in a
location to be determined, to provide a right-of-way for
ingress and egress and for uti�ities, across the subject •;!'�:
I property from Highway 133 to the remainder of the Seller's
( property to the north for the benefit of the Sel2er, and such
igrantees, successors and assigns as to which Seller may
� provide, at his discretion, similar rights of access. The
exact location, design and installation of that easement will
^ be determined by or prior to August 31, 1993, or another date `
� mutually agreed upon by the parties, subject to review and .{���
$ approval of the Purchaser, which will not be unreasonably �
� withheld. Seller aqrees that the final location, design and
- � use of the easement retained wiil not unreasonably interfere
with or damage use of the property hereby acquired by the
� Purchaser. It is further understood that the easement is �.
intended to be used as a separate driveway entrance to the
remainder of the Seller's property as further described in ,
Paragraph 13, below.
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SELL . '� �'
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CRAIG M ED TH Aate �''�''�;-+� ,
? STATE OF COLORADO ) `?`�". r
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i COUNTY OF �/E�o � _f'?;:. -
` The for oing instrument was ac owledged before me this /.�Y�
� d qf , 19 93 by ��s� .. 7�r,i.rL./.�ir�t/ '#'L�h`
� , �AT,�r'tness my hand and official seal. ��€
� , '?�,'.�O-ae+MY oommi sio expires: 7-��-S3 �s:� �
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� •ANN MEREDITH D e
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T foregoing instrwne was k owled ed before me this �>
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day of , 19� by •
Wi ness my hand and off�ial sea� 1��
i My,commission expires: _!„1.(�,, �
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Nota y Public � .
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34. Driveway Development: �����,• _
`'',:.
It is understood that the Seller may wish to deve2op a grivate ','�,,: �
driveway access to a building site on the Seller's unsold , .
property at some point in the future. The Purchaser agrees to ;s.�;•'
approve such a driveway and agrees not to object to such a + `•�d;`; •,
� driveway to the State Department of Transportation or to any i
� other permitting agency as long as that driveway meets � � �:
applicable standards for sight distances. It is understood by �
i both parties that measurements of the site as of the date of � .�
I this Contract indicate that a driveway located in the general ; s�,,.
area designated on Exhibit A will meet such standards as ' '�`
� .,F,.,. .
, understood by the County as of the date of this Contract. ; s:� ;�
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`f�Y1
FOR TH PURCHASER: �=`!��
I G� /-��
?�:;�. .:
HAIRpERSON DATE "-r�:_
PITKZN CO SPACE AND TRAILS BOARD 'I. �
,.4.�;
. - r-�.�—y.�
,
�I��� DATE � '
Pitkin County Board of County commissioners ' "
Pitkin County Courthouse `
506 East Main Street ;�'s�
p Aspen, Colorado 81611 `���"
. � �.
� STATE OF COLORADO )
) ss. �'
COUNTY OF ITKIN ) �/ � '
Th f egoing instrume�t�as a�wle�lye�bef e me this ��
�Ki �,
day of , 1 by „l�_��._l�
�i ess my hand nd official seal. �i'
�'� i y commissio ex ires:
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