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AN ORDINANCE
�- ' OF THE BOARD OF COUNTY COMMISSIONERS '
OF PITKIN COUNTY, COLORADO, AUTHORIZING THE EXECUTION
OF A LAND LEA5E BETWEEN
PITKIN COUNTY AND COMMON GROUND HOUSING ASSOCIATION, INC.,
FOR THE COMMUNITY CENTER PROPERTY
i
� Ordinance # 93- b7
RECITALS �1'~
I �
1. The County Commissioners have considered the attached Ground �
Lease Agreement by and between Pitkin County and Common Ground
Housing Association, Inc., for the Community Center Property. } -ro:;
2. The intent of the County Commissioners in entering into this �
Ground Lease is to preserve the Community Center Property in ;.
public ownership for use now and in the future in the public � _
' interest.
3. It is Purther the intent of the County Commissioners in ,� '
, entering into this Ground Lease to provide the Community ?
Center Property to the owners of affordable housing �
residential units on the community Center Property under
; circwastar►ces and conditions that will preserve the equity
interest of those owners in the improvements to be developed �. :
on that Property. �:
„ -
� 4. The County Commissioners have addressed development of the :
F Common Ground Housing Project thraugh a Development Agreement
�:• between Pitkin County and Common Ground Housing Association, ; .
inc. j. .
NOW THEREFORE BE IT HEREBY ORDAZNED by the Board of County =� •
; Commissioners of Pitkin County, Calorado, that the Chairman of the ;� .
COUnty Commissioners is hereby authorized to execute the attached
Lease Agreement between Common 6round Housing Association, Inc. ,
and Pitkin County.
INTRODUCED, FIRST P�EAD, AND S FO PUBLIC HEARIN6 AT THE REGULAR �
MEETING ON THE �u`-AAY OF � 1993. `�
`\ � _ _.
\ NOTICE O UBLIS', HEARING PUBLISHED IN THE A5PEN TIMES ON THE
� /�'DAY OF ..w�� , 1993.
� APPR VF�D AND ADOPTED AFTER SECOND READING ANA PUBLIC HEARING ON �:
_ ; THE � DAY OF , 1993.
���. �.
� PUBLISHED AFTER ADOPTION N TH� ASPEN TIMES ON THE � DAY r. `
OF ,°�� , 1993. ' �1
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^._ ATT T: BOARD OF C� CONIl�fISSIONERS: �:y r+
--- By: ' ;�:;j.
Jea tte Jones Bill ui e, rman
De ty Clerk and ecorder Date: _,
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APPROVED AS TO FORM: MANAGER APPROVAL:
. ��� t u�
TIM WHITS , REID HAUGHEY
- ' COUNTY A ORNEY COUNTY MANAGER
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Silvia Davis, F'it4tin Cnty Cler•k, Doc �.Oti „
-_,. GROQND LEASE AGREEMENT 1.''
THIS GROUND LEASE AGREEMENT is executed as of the �day of
, 1993, by and between PITRIN COONTY, a Home Rule Charter
Co n , 506 E. Main Street, Aspen, CO 81611, ("Lessor"), and CoMMON
GR O D HoIIBING ASSOCiATION, INC., a Colorado non-profit corpora-
- tion, PO Hox / y Aspen, CO 81612 ("Lessee°). '.
��� (=G�o `l�t J• S£kvie t'S `.'.
(�/(,, �+ s �F�t, A I T N E 8 E T 8: �-' .
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• ARTICLE I
Grant of Demised Premises and
�': Descriotion of Condition Thereof
� ,
Section 1.01 Demise of Prooerty. Lessor, for and in
consideration of the rents hereinafter reserved and to be paid by
Lessee and in further consideration of the satisfactory performance
r:; of the covenants and agreements hereinafter set forth to be kept
and performed by Lessee, has qranted, demised and leased and by
these presents does GRANT, DEMISE AND LEASE unto the Lessee that ,
certain tract of land located in the County of Pitkin County, State
' of Colorado, and more particularly described in Exhibit �'8•' and
depicted on Exhibit "�" attached hereto and incorporated herein by
reference; together with all existing improvements, appurtenances,
rights, privileges and easements now or hereafter appertaining �
thereto ("Demised Premises");
Section 1.02 PurDOSe of Demise. This Ground Lease Agreement
is entered into for the purpose of allowing Lessee to acquire and
� ��.,. i construct improvements for a Co-housing residential condominium
'� � complex, including but not limited to twenty-one (21) deed-
restricted affordable condominium units, and to remodel the
� existing building for a Common House, to be operated on the Deaised
� Premises by Lessee ("Project"). Upon execution hereof, the Lessee
i and Lessor shall enter into a management agreement relat�� to the
_ _ `� management and maintenance of the Common House, inclic:;.ng terns and
conditions related to its use by members of the public. Such
Management Agreement shall be approved after consideration by the
�''� Lessor in a public hearing, and thereafter be incorporated as
i additional terms of this Agreement. Any additional land use � i
,��, ; approvals required by the City of Aspen related to the use of the '
Common House shall be obtainec� by the Lessor.
I �1.
SectioA 1.03 Conditions of Demise. The foregoing demise is
; made subject to the following:
� � (a) All covenants, restrictions and regulations, zoning ` �'
! ordinances and regulations, and any amendments thereto, now or !� '�"
! in the future, in force and effect affecting the Demised s l �
� � Premises or any portion thereof; � ��i
(b) Building restrictions and regulations, zoning � ;'1'�i�
ordinances and regulations, and any amendments thereto, now in j; '.
' force and effect affecting the Demised Premises or any portion
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#t3��244 C��/<6/S•� lE::r kec S.��ii Eif: 713 F'G 257 ���' �
Silvia Davis, F'it4�in Cnty Clerl;, Doc �.��0
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thereof; 15
� (c) All licenses, easements and rights-of-way, if any, '�'�r:
j acquired by any public service and public utility corporation �
f or agency to maintain and operate lines, wires, cables, poles, s"-
j gipes, valves and distribution boxes, in, over and upon the
' Demised Premises; and i:.��
i (d) All matters which may affect title which are of C��
record in the office of the Clerk and Recorder of Pitkin }�'
� County or which are visible from a physical inspection of the �.-: -
i property.
� Sectioa 1.0� �'As-IS" Condition. The Lessee agrees to accept
�� the Demised Premises ��as is'�. Lessee further acknowledges that
Lessor has not made any representation as to such physical
condition or any other matter or thing affecting or relating to the
aforesaid Demised Premises, except as may herein be expressly set
� forth.
'i
Saction 1.05 Lessor's Renresentatiohs. Lessor covenants and �
i represents to Lessee that: ';
. ; .
' (a) Lessor has good fee simple title to Demised Premis-
� es; ;
� (b) Subject to the Conditions of Demise set forth in
Section 1.03 hereof, Lessor has done nothing, and has no
j knowledge of anything, which would adversely affec� Lessor's � '
� ability to lease the Demised Premises to Lessee or Lessee's
' ��. ability to use the Demised Premises in the manner contemplated
�`-� i under this Ground Lease Agreement; �
7
i Section 1.06 Quiet Enjovment. Subject to the Conditions of
� Demise set forth in Section 1.03 hereof, Lessor further covenants
4 and represents that Lessee has full right to the peacefui and quiet
� enjoyment of the Demised Premises during the term of this Ground
- --- Lease Agreement, absent default by Lessee under the terms thereof, '
and Lessor will do nothing to disturb Lessee's continued peaceful
and quiet enjoyment of the Demised Premises.
� y Section 1.07 Maintenance of Property anQ Caoital ,,,i
� � Imorovemeats. The Lessee is obligated and required by this Lease V�,I '
� to maintain the bemised Premises in clean, healthy and useable
condition. Lawn areas, trees, shrubs and flowers will be kept free
i of trash and debris, fertilized, watered, cut, kept free of disease
� and pests, trimmed to assure their safety and health and otherwise
' i maintained. Paved or traffic areas will be kept free of snow and � .,�,
ice, trash, debris, loose gravel or dirt, weeds and construction or �r
household materials. Trash deposit or pickup areas will be cleaned 1�+1?:
� regularly and kept free of offensive odors, pests, discarded items ;,1
or organic material. Site amenities including, but not limited to, `
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Silvia Davis, Fit4:in Cnty Clerk, Doc 2.G4 •
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istairways, lights, signs, and playground equipment will be �-
maintained in an attractive, useable and safe condition. Further, ���:r:
i Lessee shall be required to maintain the capital improvements in a •
� condition which maintains the value of the Demised Premises and all • "i
� appurtenant improvements.
� ARTICLE II j'-_..:
�
Leasehold Imurovements ���'"
� Section 2.01 A�provaZ of Improvements. Lessor shall retain
� the right to review and to approve in advance of construction any �,,'�~ ,
improvements to be located on the Demised Premises as follows: � :
1� (a) Lessee shall consult with Lessor on the locations, �
size and design of any improvement prior to a building permit; ,,
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(b) Lessor shall approve in writing the location, size
� and design of any improvement to the exterior of any improve- f
ment, other than general repair and maintenance items, prior ;
� to the commencement of construction. i �
� i
i (c) In addition, Lessor shall have the ability to
• : approve all contracis for labor, service and materials for y;
� purposes of avoiding mechanics liens against the premises.
� Section 2.02 License, Easement or Riaht-of-Wav Granta. If �
construction of the Co-housing condominiums or any portion thereof, �
or any other imgrovements on or in connection with the Demised 1��
Premises requires the further grant of a license, easement or '•
� � � right-of-way on the Demised Premises to a public service or public
�; utility corporation, or to any architect, engineer or construction a �
°-q contractor, Lessor hereby agrees to grant said license, easement,
t or right-of-way upon receipt of a written request from the Lessee
so long as said improvements are reasonably required by Lessee in �
i furtherance of its Co-housing project. Such request shall contain
the precise legal description of said license, easement or right- �
f of-way. F; -
-----� 1r ,
2.03 Maintenance of Zmprovemeats. Lessee shall maintain all ��
improvements at its sole cost and expense, except for any express �
: agreements between the parties related to the Common House as �� �
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�� � contemplated in Section 1.02, above. ,�
` ARTICLE III � '
I Te=m
' Section 3.01 Lease Tezm. The term of this Lease shall be �
for the period of fifty (50) years, commencing on j- � a , 1993 � �"�
(said fifty (50) year period, as the same may be extended or �; ��
�enewed, is hereinafter called the "Lease Term"), unless this Lease j ""
� shall sooner end and terminate as hereinafter provided. Upon the �, ,('�;
expiration of any Lease Term or at any other time during a Lease ��,. ;'�11
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; #:.;Si244 i�5/26/4•_ 16:3i Fiec �.U�:� Hk: 713 F'G 259
�ilvia Davis, F•it4;in Cnty Cler�4::, Doc �.�lG >y
i
__ j Term, the Lessor shall have the right, at its sole discretion , to �Zrs
extend the term of this Lease upon request of Lessee.
� .�.
Upon completion of the Lease Term, unless earlier agreed � ,
, to by the parties, the Lessor may:
�.. :-
' (a) extend the Lease Term on terms and conditions !� :
' mutually agreed upon the Lessor and by 51� of the members of
� Lessee; or
I
� (b) buy out the individual unit owners at the appraised !
� value of the units on the date of completion of the Project, plus F .
�� a three percent (3�) per annum increase, or the appraised value of i
the units as of the date of conveyance, whichever is less, with I .
both appraisals taking into consideration the fact that the units ' '
i •
are deed-restricted affordable housing.
, ,� The Lessor shall have the right to take other actions it ;
deems necessary, in addition to, or instead of the options listed
above, recognizing the intent of Lessor at the conception of this !
Agreement that the owners of the units be made whole regardless of •
' ' the action taken. �
( ARTICLE IV ;�
ReAt
Sectioa 4.01 As annual rent for the Demised Premises, Lessee
covenants and agrees to pay to Lessor in each year of the term
hereof, without deduction or set off of any amount for any reason
��� ( whatsoever, the sum of One Hundred�ifty Dgllars ($150.00) which -
- t sum shall be paid on or before �..�� /-•X of each year. The
k parties acknowledge that part of the consideration for this Lease
� is Lessee's participation in accomplishing a goal of the County to
� provide affordable housing in the City of Aspen for Pitkin County -
1 residents.
_----- ARTICLS V
_;�
Place of Pavment
" , Section 5.01 All rental amounts payable under the terms of � ;
� i this Lease shall be paid at the current address of Lessor set forth •_ '
, herein or at such other place as Lessor shall from time to time ' '
t ' -..
� designate by notice to Lessee. �
1 ARTICLS YI �;
� IIse of Demised Premises ; -;,�..
iS:
� Section 6.01 Use. The Demised Premises will be used for _
; construction and maintenance of a deed-restricted, affordable `1 �"
� residential condominium complex, currently structured as a Co- �:��`'�
housing community. This use is in furtherance of the best !:.�;�1
interests and goals of the Lessor that it promote the public health i,;±.;
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Silvia Lavis, FitF;inJCntycCl�r•L�,�Doclg,�� z60
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' and welfare and that the Demised Premises be used for providing ,_1,1,
' � employee housing for residents of Pitkin County. -
4 Section 6.02 Additional Users. In the event that the Demised ±
Premises are permitted to be used by any user other than the �.
Lessee, except as provided for in this Lease Agreement, Lessee j?� -
i shall not use or occupy nor permit or suffer the Demised Premises
or buildiags, structures, and improvements hereafter constructed or
± installed thereon to be used or occupied for any unlawful or
� iZlegal business, use� or purpose, nor in any such manner to
. 3 constitute a nuisance of any kind, nor for any purpose or in any (�
j way in violation of any certificate of occupancy or the equivalent
thereof, if any, or of any present or future covenants, govern- �
�� mental laws, ordinances, requirements, orders, directions, rules or !
� regulations. i;-;
' ARTICLE VII
�; T3X@S and Utility Charaes
8ectioa 7.01 Lessee shall pay all taxes and assessments, if j -
any, a�d all utility charges levied or imposed on the improvements
• i and ori the real property described in Exhibit A. In the event that 7 •
the Demised Premises and improvements thereon are to be used by
any user other than Lessee pursuant to the Lease Agreement or
otherwise, then the Lessee agrees that Lessee shall remain �.
obligated and required to pay -- or cause to be paid -- all such ±
i taxes, assessments, end utility charges. �
F .
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a { ARTICLE VIII
• lFf��.��i
Insurance
� 8ection e.oi Lessee shall, at its sole expense, carry and
l maintain in full force and effect throughout the lease term
� policies of comprehensive liability insurance with limits of not
j less than $1,000,000.00 per incident of claim, plus fire and hazard
+ insurance covering improvements on the property in an amount
-- .--;,� mutually agreed upon by Lessee and Lessor, such insurance policies
'�� written by one or more responsible insurance company licensed to do
business in Colorado; and listing Lessor or its successors in
interest as an additional insured. At the end of each five (5)
'� � year portion of the Lease Term, the liability insurance policy s+ j
� j limits shaZl be increased for the ensuing five (5) year portion of �
� the Lease Term by ei.ther l00 or the cumulative CPI increase, �;� '�,
� whichever is greater. Lessee shall also carry at all times ;:
i insurance for replacement of the improvements on the Demised
� Premises, which shall include any mortgagee of a leasehold estate
� as an additional insured. Any hazard insurance proceeds shall be ` w„.
1 paid to such mortgagee(s) . Evidence of all required insurance '•;�
coverage shall be provided to Lessor on an annual basis upon the _
� renewal of each policy. '�
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Silvia Davis, F'itFcin Cnty Clei^Ic, Doc �.��U •
�
ARTxCL$ IB `.
`"- Indemnification of Lessor
� s
� Section 9.01 Lessee agrees to and shall indemnify and hold
Lessor harmless from and against any and all claims, liabilities,
judgments, damaqes and other expenses, including • reasonable �
i attorneys fees, which may be imposed upon or incurred by or j,
i asserted against Lessor for any losses or damages to the Demised i'
j Premises or any injuries or damages or death to persons, occasioned i �
� in whole or in part or resulting £rom acts or omissions by Lessee, i
for any cause or reason whatsoever arising out of or during any �
use, occupancy, conduct or possession of the Demised Premises by 1
Q Lessee.
�` �� 6-�
� ARTICLE x
� Com�liance with Laws. Reaulations and Covenattts
i
j Section 10.1 Lessae's Dutv to Comfllv with Laws and • .
•'i Reaulations. During the term hereof, Lessee, at its own cost and
e�cpense, shall promptly observe and comply with all present and
future covenants, laws, ordinances, requirements, orders, direc- �
, tions, rules and regulations of the federal, state, county and
municipal governments and of all other authorities having or
claiming jurisdiction over the Demised Premises or appurtenances or
any part thereof, and of all their respective departments, bureaus
and officials, and of all insurance aompanies writinq policies
i covering the Demised Premises or any part thereof, whether the same
are in force at the commencement of the Demised Term or may in the
future be passed, required, ordered, enacted or directed. Lessee
- � ( shall specifically comply with all land use regulations of the City
'�i of Aspen or of any successor agency governing land use in that � �
� portion of Pitkin County in which the Demised Premises are located. `
� Section 10.02 Lessee's Riqht to Contest Laws and Requlations.
� After notice to Lessor, Lessee may, by appropriate proceedings
conducted promptly at Lessee's own expense, in Lessee's name, --
__. _:. -� contest in good faith the validity or enforcement of any such law,
ordinance, requirement, direction, rule, regulation or order and
may defer compZiance therewith during the pendency of such contest �
• � so long as (a) such deferment shall not constitute an offense on ' ?
the part of the Lessor, (b) Lessee shall diligent2y prosecute such
�� contest to a final determination by a court, department or
governmental authority or body having jurisdiction, and (c) Lessee
shall furnish Lessor with such security, by bond or otherwise, as
Lessor may request in connection with such contest,
_ N`:;
� Section 16.03 Condemnation/Takina of Demised premises. In ;i :�,
the event of a condemnation or partial taking of the Demised ,; ` -
Premises, any payments or awards to which Lessee is entitled shall �,
� be paid to mortgagee(s) of the leasehold interest as speci£ically 1� �':`
set forth in the mortgagee(s) ' security documents. In the event of ; ��ti�,.
a partial taking, the Lessee will rebuild and restore the improve-
: I `
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• #�:�7244 it✓!2b/S� 16:3i Rec �.i>r� PI'. 713 "rG' 2b2 ��I.1.'�:r
Silvia Davis, F'itkin Cnty Cler•I;, Doc �.�!�-�
�.
• i
ments on the Demised Premises, unless any leasehold mortgagee ',:�'
- consents to distribution of the proceeds instead, which proceeds '
shall be first applied toward reduction of the leasehold mortgage '
debt. i t-
ARTICLE XI "- .:
C:. .
Assivnment aad Bubiettina: Leasehold Mortaaqes
�'''
Section 11.01 Assicnment and Subletting. The Lessee shall !
have the right to assign this Ground Lease Agreement without the �-`?`
prior written conseht of Lessor so long as the Lessee is not in �
default and the use of the Demised Premises and the intent of this
� Lease Agreement remain the same. In the event of such assignment,
Lessee shall be released and the assignee shall be substituted '
therefor. �:,,
Sectio7f 11.02 Mortcacres.
e
•• (a) Right to Mortgaae Leasehold Interest. Lessee shall ,
have the right to mortgage or otherwise encumber all or any �
portion of its interest in this Lease, the Project, the
• Demised Premises and the leasehold estate created by this
Lease. In the event Lessee mortgages or otherwise encumbers
such interest, Lessee shall give Lessor notice of the same and i _
the name and address of each mortgagee, trustee or other bene- ;
� ficiary (collectively, the "Beneficiary"j. �
i (b) No Riaht to Further Encumber Leasehold intezest.
i Lessee, or any sublessee or assignee thereof, sha12 not have
� �� j the right to mortgage or otherwise encumber any portion of the
�-� Demised Premises or leasehold estate in addition to a first
mortgage for purchase of individual unit or financing of the
� � Common House, without prior written consent of the Lessor. ?
(c) Notice to MortQaQee of Default. Thereafter, while
the mortgage or other encumbrance is in force, Lessor shall
--- = - simultaneously give each Beneficiary a duplicate copy of any
and all notices of default or other notices which Lessor may
give or serve upon Lessee pursuant to the terms of this Lease,
and any such notice shall not be effective as against any
� Beneficiary until the duplicate copy is given to such Benefi-
� ciary, including, but not limited to, exercise of any renewal ;� �
options here. A different address may be designated by any
Beneficiary by notice delivered to Lessor from time to time.
! Any such Beneficiary may, at its option, at any time before
! ' the rights of Lessee shall have been terminated as provided
' for in this Lease, pay any of the rents or other sums of money : �.�.;
� herein stipulated to be paid by Lessee or do any other act or
i thing required of Lessee by the terms of this Lease; and all '�'•"
� payments so made and all things so done or performed by any �
such Beneficiary shall be as effective to prevent a forfeiture ;�,�
of the rights of Lessee hereunder as the same would have been F�;`,
_7_ #;.
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#35r�44 05/26/9•= ib:3i Rec �.�>�� �f'� 713 FG 263 `
Silvia Lavis, F'itl;in C�ty Cler•1::, Doc �.�>�� ;
ti..
� �
if done and performed by Lessee instead of by any such ��r,;
-- - Beneficiary, including but not limited to, exercise of any �
' renewal of options herein. Any such mortgage, deed of trust �E ,.
or other encumbrance so given by Lessee may, if Lessee so f
desires, be so conditioned as to provide that, as between any x: �..
such Beneficiary thereunder and Lessee, the Beneficiary, on '
� making good and performing any such default or defaults on the p"'
�
party of Lessee, shall be thereby subrogated to any and all of �'
i the rights of the person or persons to whom any payment is
made by the Beneficiary, and all of the rights of Lessee
� hereunder. � :
i (d) Beneficiarv as Assianee. No such Beneficiary shall ;
be or become liable to Lessor as an assignee of this Lease �w
� until such time, if any, as the Beneficiary shall by foreclo-�
i sure or other appropriate proceedings in the nature thereof,
or as the result of any other action or remedy provided for by
such mortgage, deed of trust or other encumbrance, or by ;
proper conveyance from Lessee, either acquire the riqhts and j -
interests of Lessee under the terms of this Lease or actually �
take possession of the Demised Premises, and such liability of �
, such Beneficiary shall terminate upon such Beneficiary's ;
assigning such riqhts and interests to another party or :
relinquishing such possession, as the case may be, provided �
that such termination of liability as to such Beneficiary �
shall not extinguish any default hereunder or any such
liability as to any other person or persons.
i (e) Involuntarv Termination of Lease. Upon termination
� i of this Lease prior to the end of the stated term by reason of �
''^�;.�� Lessee�s default, Lessor shall give notice thereby to the '
Beneficiary of the holder of the first lien against the �
I leasehold interest. Beneficiary of the holder of the then ; '
1 first lien upon Lessee's leasehold estate shall have the � ,
1 option, upon notice to Lessor deposited in the mails not later
i than 90 days after notice from Lessor of such termination, to '
elect to receive, in its own name or in the name of its '
nominee or designee, from Lessor a new lease of the Demised
Premises for the unexpired balance of the term of this Lease,
or any renewal and extension hereof, on the same terms and � i�
`� � conditions as in this Lease set forth, which new lease shall
> be effective as of the date of termination of this Lease and
Lessor agrees promptly to execute such lease provided;
s
(i) such Beneficiary shall simultaneously with the qiv- :{
ing of such notice cure any money default of Les-
�,
see; and
t4
(ii) such Beneficiary immediately commences to remedy, `
and thereafter diligently pursues the remedy of, ' i',
� any non-money default of Lessee, excluding those
which by their very nature are incapable of cure by `•'!
�'.
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#3;,7�44 t�5/26/93 16:3i Rec �.��i� Ef: 713 PG 264
Silvia Davis, Pitkin Cnty Cler�{*.y Doc �.QCi
_._ - 6�s
any other person or aorporation.
� Such Beneficiary, or its nominee or designee, shall thereafter ' `
� observe and perform all covenants and conditions contained in �•'
� such Zease required on the part of Lessee to be observed and
� perPormed. Any such new Zease shall, to the fullest extent
possible under applicable law, have priority equal to this
Lease, and, without limiting the generality of the foregoing,
any mortgage, deed of trust or other encumbrance on the fee �,�
estate shall be subject to suah new lease. If such holder of � s '
a first lien mortgage, deed of trust or other encumbrance upon
�. ; Lessee's leasehold estate or first nominee or desigaee shall
J become Lessee under such new lease and shall subsequently i
+ assign such new lease then such Beneficiary shall thereupon be
� relieved of liability under such new lease for all obligations
� not theretofore accrued, provided that the assignee expressly
'. assumes all liabilities and obligations of lessee under such
� new lease thereafter accruing, and Lessee or such Beneficiary !_
furnishes Lessor a copy of such assignment and assumption.
The termination oE this Lease shall not terminate the right of '
the first lien Beneficiary to a new lease under this Section.
ARTICLE XII
Riaht of First Refusal
In the event Lessor determines that it desires to sell the
Demised Premises, Lessee shall be qiven written notice of such
- � intent to sell, which natice shall provide an option for Lessee to •
``�Fi, purchase the Demised Premises at a price and on the. terms and
� conditions offered in the notice. Lessee shall be given one
hundred twenty {120) days to exercise its option to purchase the
' Demised Premises on the terms and conditions set forth in the
4 notice, or on such other terms and conditions as aqreed upon by the
parties.
�—_.::,-_.;
ARTICLE %III -
Default
�� 8ection 13.01 Events of Defau2t. Any one or more oF the
' following events shall constitute Events of Defau2t hereunder.
�
(aj If Lessee shall totally desert or completely abandon
the Demised Premises and such desertion or abandonment shall �~
continue for a period of ninety (90) days after notice by
- Lessor; or �
i �'
; (bj If Lessee shall default in making paymeht to Lessor ��`,J
� � of any rent, as defined in Article Iv, as and when the same
shall become due and payable, and such default in payment
I shall continue for a period of ninety (90) days after notice
by Lessor to Lessee; or ;
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Silvia Davis, F'zticin Cnty Clert;, Doc y,���_� 265 '� 's
,�
(c) If Lessee shall default in complyinq with any other ;-i,�
____ agreement, term, covenant or condition of this Lease and such �r..,
` default in compliance shall continue for a period of ninety +.,.
� (90) days after notice by Lessor to Lessee.
y'' �, `'S
Bection 13.02 Remediea of Default. Upon the occurrence of r�
� any such Event of Default, the Lessor, in addition to any other ,�: ';
: rights and remedies to which it may otherwise be entitled, lnay, but
'' shall not be obligated to, terminate this Lease and the term hereby
<� created in the manner set forth, whereupon Lessor shall be entitled r;
` to repossess the Demised Premises, subject to Section 10.03 hereof.
. ; �-
��x� ''.:
ARTICLE $IV
� Notices
� Bection 14.01 All notices required under the terms of this
i. Lease Agreement shall be given in writing, by mailing such notices �
;; by certified mail, return receipt requested, to the address of the � •
, � parties as shown below, or to such other address as may. be '
- designated from time to time in the same manner. If not sooner ;
' i
• received, any notice given by mail shall be deemed received three , -
; days after the date of delivery as shown on the return receipt of
# said certified mail.
` LESSOR: Pitkin County
506 E. Main Street � -
Aspen, CO 81611 !
i.
COPY TO: County Attorney �
530 E. Main, 3rd Floor t
��c� 1 Aspen, CO 81611 F {'�
1. ,
LESSEE: Common Ground Housing Association, Inc, i
Po sox �/�/'/9 i :
Aspen, CO 82612 `
s
COPY To: Martha C. Pickett, Esq. ;".
---- McFlynn & Picketk, P.C. �:
�
''`i* 320 W. Main Street
��� Aspen, CO 81611
`a _ ARTICLE %V ;; '�
Controilinq Law :': 1 :
�'.I
8ectioa 15.02 This Lease shall be governed by and construed �' "
Y '
in accordance with the local Zaws of the State of Colorado.
� i
ARTZCLE 8VI ;
� Captions i '!�'
� Seation 16.01 The captions and headings in this Lease are �:y =
inserted only as a matter of convenience and for reference, and
� . -lo- '�;5
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.
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j Silvia Davis, F'itl:in Cnty Cler4;, Doc �.i�p
� they in no way define, limit or describe the scope of this Lease or
__ I the intent of any provision thereof. :
f F'
ARTICLE XVII
�;�.
Entire AQ.reement !;�
I
Bection 17.01 This Lease contains the entire agreement
between the Lessor and the Lessee for lease of the unimproved real
property described in Exhibit A. ihis Lease cannot be orally �
I changed or terminated; it can be changed or terminated only by an (
instrument in writing executed by both parties. �
,
ARTICLE %VIII (
� Successors and Assiqns ;
�
Section 18.01 All of the terms, covenants and conditions
herein contaihed shall inure to the benefit of and be binding upon
� the Lessor, its successors and assigns, and the Lessee, its .
� � successors and assigns, and any others who at any time shall be the
' • owners of the land described in Exhibit A hereto or of the
leasehold estate hereby created or of the improvements to the
Demised Premises.
IN WITNESS WHEREOF, the Lessor and Lessee caused this Lease to
be executed in counterparts a5 of the day and year first above
written.
LESSEE: LESSOR:
' COMMON GROUND HOUSING PITKIN COUNTY, a lorado -
� �c� � ASSOCIATION, INC., a Home Rule Count
'��. Colo o Nonprofit Corporation
�
• By: 22� V��Z.� ' C�'" \J By: .
�r��t �i% YY�N�Y1 C o«.V�GL �
-- ----- STATE OF COLORADO j
) ss.
'�*'a:<. COUNTY OF PITKIN ) .
�� The foregoing was subscribed and sworn to before me this _�
� ddy of�� 1993� by '1'b,nw.q C � . �V E.„[.t.� i i,,.
as Presiden of the Common Ground Housing Association, Inc., a
� Colorado Nonpro£it Corporation. ����������i,,,����� I ;
: � LLE
Witness my hand and official seal. .?'�E��_"�•tiC9'•. . ; .
� rty commission expires: 3)g q7 � ;I�j NOTq" =; `_� '�'`�
� �,;,�.e� �� j a-��-:�-� ��.:_:: �;.
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Aol G�:,�Sti'.r%+:� ���C+ '
�) o�s tr� CcMP�Cb�.) ,,.•'p , .�
(Additional Notary Block on Page Twel�t�� ��• ...• *.� , . �
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, PitF;in Cnt �t'� 267
y C1 erk, Doc �.pr� � ..
�� .
____ STATE OF COLORAbO j ;_,
' ) ss. i"�r�
COUNTY OF PITKIN ) �
Th oregoing was subscr' d a d s�n t before me this ��� �s
day of __ 1993, by -
ag �f(s� of Pitkin Count '
; Charter County. Y, a Colorado Home Ru2e
Witness �ay han@ and official sea1:� .,��
My commission expires; �r/.^�.q3
� � -
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E: Silvia Davis, Pit4;in Cnty CYerk� Doc �.v0 !.'"
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� �SLCRIPTION OF THE COMMON GROUND HOUSINO PROJECT
B�pinMrtq ot ths northw�ale�ly wrnar o} th• COMMdON GROUND ;;
HOUSING PROJECT whenea 1he I/4 cornar common fo Section 12, ;ti..
T 10 S, R 85 W, 61h P.M. and to Sadbn T, 7 t0 5, R 84 W, both
61h P. M. e�ars S 87• I�' 56' VY, 1058.95 tut; '
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1. Thsne� S 89' 57' 52' E, 126.eB f�di a' .
' 2 TAanc� S eB• 11' 20' E, 47.31 /eet;
. ' � 3, Thenu S OP 48' 40' W, 16.03 t�d; � ' �
• . 4. TA�nc� N 89' S6' 52' E, 14.56 Nef; . .
, i 5. Thance S 00• 03' 12' E, 19.89 fa�t;
6. Th�ne� N B9• 5B' SB' E, I52.44 f�ef;
T. Th�nu N 73' 19' S8' E, 9.37 ba/;
8. TAene� N T3• 23' S5' E, 26.17 fsst; -
9. Th�nc� 5 33• 26' 27' E, 16.29 (�af;
�� . . � 10. Th�ne� S 47' S3' 30' W. A3.73 f�et;
� � 11. Thenc� S 00' 03' tl' E, 33.26 t��t;
. � � � 12 Th�nw N B9' 16' 46' W, iT.09 t��t; .
_ .� �. � � I3. Thanc� 5 00' 26' 50' W, 196.30 f��ti
\ 14. Th�n�� norihweslerly 157.23 fset olonQ tha arc of o ctrculcr non-tanqsnf
-- curv� coneov� fo th� soufhw�at wl}h a canNal artqN ot
47• 54' 07', a radlus ot 188.06 tad and a ohorQ beminp
'. N 89• II' 25• W. 15269 I�d: � � :-� �.
15. Thmc� S 6i• ST' II' W, 33.89 f��t;
� .. �� � � . I6, Thane� N 35' IS' 37' W, 34.86 faeh, �� �.
� �� � . 17. Th�nc� N 00• 08' 33' E, 64.90 het; � �
- �' � � 1& TMnc� N 40' 42' 16' W, It8.9T faet;
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� �-�--�-=-���^' � t9. Thenc� N 00• 02' OM E, 1T5.42 /set }o the PoMY n} - "
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Th� COMMON GROUND HOUSfNG PROJECT os d�scrlbeQ obov�
1 . � � � � contalns 2.023 aer�s mer• o� I�ss. � . S �
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