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—. VACANT LAND/FARM AND RAtICS
;� CONTRACT TO BUY AND SELL REAL ESTATE �/
- � Seller's remedy Liquidated Damages (Section i6),. � �5/ -
� ,� (FINANCING SECTIONB OMITTED) � `� ' '
"� November 6, 1991 �
�� • .
� - - 1. PMTIES AND PROPERT►. Pitkin County Boerd of Camty Camissioners, purchaser(s) [Purcheser7, (as joint tenants/tenents
- -'in camaN agrees to bvy,and ihe undersigned seller(s) [sellerl,agrees xo sell, on eht terms and eonditiass set forth in this ,
, � contract, the foltowing described real esYate in the Councy of Pitkin, Coloredo, to.vit: � � .,
� ihat-part of Lot 3, Arbeney Rench Subdtvision tying north and east of the Arbeney Dfteh, consisting of approxim.tely 17 ecres, •��r
plus e triangular pieee of property approximately 700' on e side tyfng soutb of thet ditch as more futly sham on the map �
attached hereto and desi9nated Exhibit A. �
..I.. '�`' , .
A fifteen (i5k foot eesement'for treil�parposes reaching fran the northuestern boindary of the property to the southeas[ern ." -
bourdary of the property as ard shown in EMAibit A,attached, together with ell interes:of Seller in vetated streets and alleys �'�' .
"' adjecmt thereto, at! easemrnts and other appurtenances ihereto, ell improveaents thereon ard ell attached fixturcs thereaai, '��"�
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ezcept as herei�excluded, ard ealled the Property. . - �
2. INCLUSIOpS. The purchase prioe include the following items: � _
' � (a)vater Rintifs-�Purchase pri�e to indude the following waLer rights: mne. � �.`� '
� ,.,, ,.
. �- �(b)�Growing Cciips_ Yith respeot to the growin9 crops Seller and Pwehaser agree es foltous: none. � � [�; �;
- - � ' The ahove-descC�ibed included itema (toclusiaisl are to be eonveyed to Purchaser by Seller by bill of sale, deed or other ' 1••�^..
., '-eppliceble legel:instrunen!(sT et the closing,tree and clear af all taxes, lie�ard enntrbrances,except as provided in sectirn , ,
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The fotla'ing.dttached fixtures are exclWed fram this sele: none. � . _
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� • �3.��PWtCHl4�':VRICE'AND TERNS_ The�purehase price shalt be s200,000,00, payab(e in US dollars by the Purcbaser es follows
� (coaplete th�spplicable terms belou>:
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-�� � (a)Earoest? S10,DOO.00�in the form of wired funds. as earnest noneY deposii erd part peyment of�the purchase pri�e, ,
� -�-���payable.to a'-held�by'Stewart�Title,Llosing Agent, fo its trust eccount on behalf of botA Seller ard Purd+�ser. Purchaser '�� + �
� � -�"shall�`deliv��;fhe-earnest money deposiC to the closing agent within 3 days-of County eammissioner approval of this Contrect.
' - � �-(b)Cash aL�lasing. 5190;000.00 to'lx�paid by Purchaser at closing in cash, electronie trensfer ftads, certified cheek,
� - sevings ard.tqan teller�s cheek; or ceshier's eheck. Subject to the provisians of section 4, if the exSstin9 loan batance et �
� � � --�• the'time�of cFa,sing shell be differeni'fran tM1e lmn balance in seciion 3, the adjusUnent shall be oade in e�rh et closing or E<
paid as falloiis: not epplicable_ � .
� � - 4�.� GoOD.FUI�uS. All�payments required at dosing shell be made in fuds whieh eomply uith att appticabte tolorado laws. � .�
• .� - -- 5.--Noi ASS.IWU6LE. This�contract shalC mt be assignable by Purchaser uithout SeLteNS pt�ier written ca�sent. Ezeept as
� - ' so restncted �this eontract shalt inure to the 6enefit of and be binding upon the heirs, personat represm4tives, successars � ;� '
end assigns of-:the parties. � � -
- �
� '-�b.' �EVtDENt?a OF TITLE.� �Setler shall furnish to Purchaser, e[ Seller's expense, a eurrent eommiimmt for ovneNS title
� ��,-insuronce'pokiiy 3n�an emeunt�equal to the purchase price. PurcAaser may require of Seller thai eopies oi instrunen[s (or
� � � a6stracts�of:�`uistruoents) listed in the scheduie of exceptions(Exceptiwss> in the title iwurmue crnmicment slw 6e furnished
� -� �4o Purchaser;at�Selle�'s expense: This requirement shall pertain nnly to instruments shown of record in the offSce of the ilerk
�• '�� -ard'reEorder-�f the designeted courify�or counties. Tbe title insuronce comiitmeec, together with arry copies or a6streets of .
� -� ��`iosfruneYit§:f"urnished..pursuan4 Yo this section 7,constitute the tiile documents(title bxunents). Purchase�st request Seller
� 2o'�fuPmsh eopiesbr a6s[rects of�instcunents listed.in the schedute of ex�eptions no later than 5 pterdar days after
� "PUrehaier 5 receipt of the title insurdnce eamitment. If Seller furniehes a title insucance commitment, selle�will bave the
� � ti[[e��irtsurecice policy del'tvered to Purchaser as�soan as practica6le efter closing ard pay the premium at closing, . ��1 ��
�- -•� � � `7.��TIiLE.�-ja7�Title-Revicw:��PUrchaser sbalt have the right to inspect the Titte Docummts or abstreat. 4ritten notice by r,t�
� � '�Purchaser of,-a'�16erihantabiCity-of-titLe�or�of any other unsatisfeetory title condition sham by tbe Title Docunen[s or abstraet ����:
� ��sball be sigaed�'by�or on befislf of Purchaser and given to Seller or Listfng CortQany on or before 7 calendar days after j,�
� � - Purchaser's�receipc of 7itle�UOCUments or�a6stroct, or wiihin five (5) calendar deys after receipt by Purchaser of ary Title ;���
. � "Doctment(s):orerdo�sement(s)addin9 new Exeeption(s)to the ti[ie aommitment together with a copy of the Title Owunent eddinp � _
- ��new�ExcepiioMs) to�title.� If Sel[er'or lisiing Conpany does rrot receive Purcheser's notice by the date(s) specified above, � .
.. ��� ' iu�chase�sh�aCl fie deemcd to have accepted the condition of title es diselosed by the Title Documents as satisfeccory. ,�;}. ,
. •� �'(b)Mat�ers�NOt shan by the Public Reeords_ Seller sball deliver to Purchaser, an or before ihe date set forM in seccion
� • •7j-true oop'ieg of�aU (eaie(s)arW survey(s> in Seller�s possession pertaining to the Property ard.shall disctose to Purchaser .
� °- �� ���'el�l'�easement�lim�6rocher title trotte�s not shown by the{wblie recocd of which Seller has ectuel krwwledgr. Purchaser shall ,}A
-�' 'have che righE�to�inspect�Ehe Property to determine Sf any third party(s)hes any right in the Property rw aho�n by the public t
' � • � <�records�(�such��as an urx�ecorded�easemenc,inrecorded lease, or hourdary line discrepancy). Hriitm nocice of anry unsatisfactory
�� �� =conHi�Cioro(sY:�isclnsed by Seller or reveeled by such inspection shall be signed by or m 6ehalf of Purchaser nnd given to Seller � '�f�.
� � � � or Lisiing'CC�pany on or before November 14, 1991. (f Seller or Listiog crnQarn/dces rror receive Purcbaser�s notice by said
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date, purchaser shall be deemed to have aceepted title subject to such rights, if atry,of third parties of which Purchaser has
� actua[knowledge.
' (c) RigF�t to Cwe. If Seller or Listing Canpany receives nocice of urmerchantability of title or ary nther wosatisfactory
� title eondition(s>as provided in subsection(a)or(b)above,Seller shalt use reasonable effort co correct said unatiafaotory �
� titte eondition(s)prior to the dace of elosi�g. I!Seller fafls to eorreci seid unsatisfectory t{tle corditim(s>a�or beforc ��
. . the dete of closirg, this eontract shatl thm termi�ate, subject to section 15; provided, however, Purchaser may, be writtm '� , '
rrotice receivcd by Seller or LisLing Conpany on or before closing, waive objection to ssid�enatisfeetory title eordition(s). ,� . .
�, . .
8. MTE OF CL061MG. Tbe date of dosing shell be•See Adderdun, or by mutual egreeemt at en�earlier date. The hwr ard ,
place of closing shall be as designated by Stewert iitle. � .
9. TRANSFER OF TITIE. Subjeet to tender or payrtent on elosin9 as required herein and complianee by Pur�haaar wich the other
cerms and provisions hereof, Seller shalt exeeute and deliver a good ard suffieient gmeral warranty deed to Purehaser, on . -
. closlrg, conveying the Property free end clear of all taxes exeept the 9eneral texes for the yeer of closirg, erW exeept none; ��-
. frce end elear of all liens for speeial i�rovements installed es of the date of PurchaseNs signeture hereon,whether assessed ,��r "
or not;exeept distribution utility easements, ixluding cable iV;except those mattere reflected by the T3tteDOCUnents sccepted � �
by Purchaser in aeeordance with s�se�cion 7Ca); exeept those rights, if airy, of third parties in the P�operty not ehan by the
publie records in aecordarrce with su6section 7(b); ard subjeet to buitding and zoning regulacions. �����:.�t��'
4
10. PAY7ffNT oF ENCIMBRl1NCES_ Any encunbrance required to be paid shell be paid et or beforo the time of settleamt fran the �. .. �
proceeds of this transaction or fran eny other source. -:��j
,I
� 71.CLOSIMG COSTS,DOLUIENTS AND SERVILES. Purchaser ard Seller shalt pay their respective closfng wsis at closin9,except �
� as otheruise provided hereio. Purchaser ard Seller shell sign arx!eaiQlete ell custarery or raquired daeunents et or before - "
� closing_ Fees for real estate dosing and settleoent serviees shall oot exeeed 5300_00 ard shell be paid et closirg by Seller � -"
ard Purchaser. � �
. . . . . . . . , j'.
12. POSSESSipI. Possession of the Property ahall be detiveretl to Purehaser as follows: delivery of deed. SubJtti to the " !�
, followirg lease(s)or tenancy(s3: none. . �� �"
. 13. LONO[Ttpf OF AtD DAMAGE TO PAOPERTY. The Property end lnclusions shatl be conveyed in their presmt corditian,ordSrery �� ''
� wear and cear excepted. tn the event the Property shall be dama9¢d bY fire or other cesuelty prior to time of dosirg,�in an �
� anawt of rrot more Lhen ten percent of ibe Lotal purchase price, Selter shall be obligeted[o repair the sMne before the date
of ciosing. In the event sueb demege is not repeired within seid time or if the damages exaeed sueh eun, this contract may be
terminated at the option of Purchaser. Should Purchaser elect to carry out this coniraet despite such daoage, Purchaser shell
be entiiled to cr¢dit for sll the insuranee proceeds resultirg from eueh damage to the Property arW IneWsiais,rat�exceedirg,
� ha+ever, the total purehase price. 9hould any Inelusion(s) or serviee(s) fail or be demaged between the date of this contrect
- and the date of elosing or the date of possession, uhichever shall be eartier, tt�en Se[ler shal( be Liebte for tbe repair or '
replacement of such Inelus{on(s)or service(s) with a wiit of similar size, age erd quelity, or an equivalmt credit, ►ess xry ,
w
insuranee proeeeds reeeived 6y Purchaser covering such repair or replacement. The risk of loss tor any damsqe to grouing t�ops,
by fire or other easuatty, shall be borne by tAe party entitled to the growing crops, if any, es provided in section 2 and sueh 6
� party shall be entitled to such insurance proceeds or tienefits�for the yrowirig crops;it anY.
� � ih T[ME OF ESSEpCE/REMED(E5. Tfine is of the essence hereof. !f erty note or cheek received as earnest woney hereunder or �� ,
�, any other payment due hereurder is rwt paid, honored or tendered when due, or if arry other obligation hereunder ts rrot perforred 2�
. � or uaived as hereirt provided, there shall be tt�e tollowirg reuiedfes. 4"'
(a) IF THE PUNCHASER IS IN DEFAULT: IF TNE BOX IN SUBSECTION (7) IS CNECKED, SELLER'S RENEDIES SHALL BE AS SET FORTH [N �
1
SUBSECTION (1) [SPEC[FIC PERFORMkNCEI. IF SAIU BOX IS NOT CHECKEO, SEILER�S REMEDIES SHALL BE AS SET FORTN IN SUBSECTION (2) �}{�� .
{LIOU)DA7E�DAMACE57. �
' '��
� XQ)Liquidated Damages. All payments end things of velue received hereinder shaLl be forfeited by PureM�ser ard retsined j��
, on behalf of Selter end both parties sAatl tbereafter be released fran el[ obligatims hereurWer. It is agreed thet sucA
� payments and things of value are LIOUIDATED D�N11GE5 end(exeept as provided in subsection(c))are SELLER'S SME Atb ONLY REl�OY
for Purchaser's failure to perform the obl59ations of this �on[ract. seller expressly uaives the remedies of speaifie �
performance and additionat damages. � � .
i:.
(b) tF SELLER IS 1N DEFAULT: Purchaser may eleet to treat thia eon[ract as eencelled, in�+hich case all peyments and thirgs .
� off value received hereunder shaLl be returned and Purcbaser mey recover sixh damages as may be praper, or Purchaser may eteet
to treat this contract as being in full force ard effect and Purehaser shall have the right to specifie performanee or danages, �
or both. �
� (c)Co575 Alro DmEtlSES_ Mythin9 to the contrary herein notwithstanding, in the event of any liti9etion or arbitretion arising
� wc of this contract, tbe court shall avard to the prevaili�party ell reasanable costs and expense, inelWirp attarney fces. �,.
al� :
75. EARNE5T IqNEY D[SPIrtE. Notuithstardinp any termination of this eontract. Purchaser and Seller agres that, in the event y
m
- of arry controversy rcgardirg the eernest aaney ard thi�s of velue held by broker or closing ageni, mless mutuel written
instructions are received by the holder of the earnest woney and things of velue,broker or elosing agent shall rmt be required ��; " -
to take arry aefion�h�L`me"Y awcif"�iiy'proceeding, or at broker's dr elosirg�'eymt�s dptioo'ard sole diurcLion,mey interplead °.'1 � .
� all parties and deposit any moneys or things of value into a court of ca+petmt jurfsdietion and shall recover court costs end f�f' '
�:'
� reasonable attorney fees-
� 16. INSPEC7Ip1_ Purchaser or any designee, shall have the right to have inspection(s) of the physical conditim of ihe !� �
�� Praperty ard Inclusions, at Aurcbaser's expense. If written notice of eny wsatisfactary condition, signed by Purebsser, is [ .
rat receivM by Seller or L9sting Cmparry on or 6efore November 14, 1991, this contract shall tbm terminate, subjeet to seetion �i
. �
1 �
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15. ,Purchaser is responsible arxl shall pay for any damage which accurs to the Property end Inelusions as e result of such �
. � - , inspectlon. . .
� � 17.11DDITIONJIL PROYlSId15: �- .. `. . . ' � . . •.... . .. � �•
see Addendio attxhed hereto ard sade e part thereof. � '
*� 18. RECaME1mATlp1 of LEG6L Ld1M5El. By sie�irg this doeurent, Purehaser and Seller aeknowledge that the Selling Ca�pany or - � �
� the listing Campe�y haa reeamrcnded thet Purchaser end Selter obtain the edvice of thair own legat eounsel regardiny examirotion ��;,,:
of title ard this contreet. . ...
� 19. TERMI1uTla1. In the event thts contrect is termfnated, all peymmts and things of value received hereurder shall be ? �r . .
� returned and the parties shall be relieved of all obligatia�s bereunder, subjeci to seetion 75- . 1 �
20. �ICE OF ACCEPTANCE/LaUMTERPARTS_ If this proposal fs eecepted by Seller in writirg erd Purehaser recefves roCiee of ��.�.�y� �,�
. � . such ayt tance on or before October 78, 1997, this docunent ehetl 6ecane e contrxt betwem Seller and Purchsser. A copy of ,
this dx nt may be exeeuted each party, separately, srd whm eaeh perty Aas executed a copy thereof, such eopies laken .
toget er hall be emed o a Ll arW compiete contract betveen the partSes. � �
+ � t�j�� �' i/ - � '
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� Richard Neiley, Chairma Open Spaee and Trails Board of Trustees Dete '`."'
� ��'
' . � Hayne Ethrid , irman Date "�i��?�
� � _ � Pitkin Count Cw�xissioners, Purah ser � � ��<<:+' '
, ,, . . ..: .- . , �,. ....:_ ". .
: � - � Apprwed es to Form:
., . .,
_ t{ -°------� -�--- -°------- ;.
- j Tim 4hitsitt, ty Attorrxy
� .� 21. ACCEOTANCE j•. �
� . Arbanev Ranch Partnershio. Umited . •
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y� (,�',TA//�Y[dt�[wt) �Ci1N(fAM�1.L ���� �
� ` Fierwan Arbaney, General Partner Q Dai
' � � � nd Kittle, General rtner Oa� �� �
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� c7_�'.�tp,,r�s��.v�n,G��.a�... _11�6_�91___ •
� Fiermen Arbeney� Owner � Date . ,
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; :��,.,,,(��._�T��c�. _l���,�q�-- .. : ;
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� Beulah Arbaney, Ouner Date
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Seller's Addross 24090 Highway 82, Basalt Cp 87621. ��-i �
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MDENDUN TO RESfDENft�L LON�ONINIUX CONfN�CT TO fiUY AND SELL REAI E57ATE "'
' Dated Oetober 24, 7997 .� • `
�� . . .. ..._ . . By: Pitkin Caunty, Purehaser .
sca e:�.n.r �..._... ... .. ::�c<_•: arfd Arbaney Rancb Partnersbip limited, Sellers ,
7. Seller represents and�arrenis that he is not subjecc to�ithholdings es defined under Intet'nel RevaM¢Cade Sectton
897(Fareign Person iraraferor). Setter agrees to execute an affidavit at elosirg stating that he ic not a foreign -
Person Traiuferor. �
u
� 2. Partiez agree that telefaaed, signed copies of 6oth the offer ud eeceptanee end o[her contra�tual eqretaents pursuant .'�r�
_ to the Contraet are deemed etfeccive. � �
3. ALl earnesi money shalt 6e placed in en interest beari�accowt uith in[eres[aecruing to tHt benefit of tlu Gurchasen +.�`�i'�,���
4. ihis Contreet shatl be binding on end inu�e m the benefit of tAe heirs, eaecutors, le9sl represwuative, successors �i,�� . �
and assigns of the parlfes. � ..''
- S. �This conirect is expressly contirgmt upwi the officiat approvel by the Board of Lounty Commissioners at ita earliest � -
scAeduled meetiig fran the iime this contract is signed by both parties. �'� �,
6. Induded in the purchase price is a fiftem (15) foot easement for pedestrian erd non-notorixed tnil tae alag tbe �4R
� western side of the suhdivision located eppror.imately parollel to and partfally coineident with Attese Easment"C"as i
, designated ard sham an tAe ettached ExhSbit A. !o those lxetions�where the troil ard x�ess Eueamt"C"ove�tep, � A� ?�
_ � they will cuxist vithin the same location until such efine es Access Easement "C" is rclxated, it wbich time the ���ttt �`�
� , origiml llceess Easanent "C" will be vacated by the Seller. Said easemmt shall be delivere0 and duly rccorded �.,,_}
immediately upon delivery of tbe Property if a survey sharing an easement T 1/2 feet to either side of a centerline hes ,�
� 6een campteted prior to that date. If ra survey has been completed, this contract witl gwran[ee the euyer the right , �
� � to develop a trail in the approximate Lxation of the route shown on Exhibix A, acd will biod the&yer to survey, srd
� the Seller to grant said easement upon eampletion of ireil development. .
A Certified appraisal of the fifteen(15>foot tretl easement shatl be ordered iamediately upon the request of tfie Seller �
at the sole expe�e of Purchaser. Tuo(2)copies shall be delivered to hoth the Seller and Purehaser upa�caryletion.
� The trai[ shall be fmced, by the Purchaser, all almg the northem side. Fmeing shall be of a type and height L.� .
. suffieimt to discwrage trespass. � � '
. 7. Purcbaxr shall be sole(y responsib(e far making alt the appropriete subdivision ptat miendmro�ts fx tAe Ar6aney Ranch '.+.��' �
. � Suhdivision, such as lot rrconfiguratims and eesewmc recordation, at no eost or liebility [o the seller. The �
� reouioing aereage of lot 3 shatt constitute a vatid wbdivision lot, uith all the restrietiaw and eovmmts curreMly � �
� in pleee. -- Y�;
� ihe Purchaser shatl fmce the uestern edge of the it acres along the eastern side of the Arbaney Ditch.Wrchaur shall � i
siso lmce tbe nortbern edge of ihe 11 aeres along tbe ba�xxfary Line for a suffieimt distance to�diswre9e trespass � ,f�,
onto adjacent private property.All feneing shalt he of a type and hei9ht suffieient to effeetively discoura9e Crespass. y�{t
-� �- 8. The Purehaser sheU support the efforts of the seller to develap a rww driveway aeeess to their property fra�highway � !�+�: .
82.Such supporc may take the form of carrespondenee or eonversacion betueen the purchaser and the state Depertment of • '�-�
. Transportation expressiry such support.
� - 9. The Purehasers vi([ be mtitled to water from the Arbaney Ditch tor irrigation and oiher appropriate puryoses m the ��
. 11 acre pareel in a�amount approximately equivalent to the amo�nt iAat ean be draun from the ditch at xry 9ivm manent
� by a 1/2 inch hose pouered by a i/2 horsepouer punp. It Is acknowledged that this water is a donetion to the maintenance - -
� � . of ihe 11-acre parcel by the owners of the ditch and water rights thereto ard does not constitute r lepal uater ri9ht ,
or property interest. �
� 10. ihe sel�ers shall recain pedestrian or vehiaular aocess to ard across the 11 xre parael for purposes ca�sistent witb .
, �historiwl use whatever, provided such access does mt si9nificantly impair or prcvent other public access to and use . .
of the parcel.
� . 11, The Purchaser uill provide rwtice to the Sellers at leasc five(5)days in advance of arry uork or aetivity m the treit ��
easemmt or 11-acre pareel whieh might impact operations on or use ot Me balarce of[he property and stull eonsult with �;�� .
� the Sellers regsrding the timieg an0 nature of such xtivities. Such activiti'es will irKlude,hut mt be limited 20,
cutvert �epair and reptacement, road, tnii or parki� taoiltty installa[ion and�intenaneq fenee-bu�lding, gaie ( � -
instaltatia�or drainage scrueture maintenance_ °_�'i
� �2. Prorotiau: General tazes for the year of closing,based on the mosi recent levy and the mosc recent usesmimcs,rmts, �,,�
. � water uW sewer charges, if any, shall be prorated to the dace of closi�. 1fim tbe actwl taxes are krww+.Seller and
j Purchaser shall re-prorste 1991 taxes m the date af elosing, and, if arry payment is required to djust the proretion ��•Y� .
! to the actwl taxes es determined Ey the Treasurer's office and the Asswsor for Pitkin County, seid papomc shall be i
' made by the seller. My seles, use snd transier tax, ineluding all real esate transfer tazes, that�ay+an+e because
- �� of this tronsactim ahall be paid by tAe Selter. � ,!'.
� 13. "Conditims o(Tiileu: !f purchaser epproves of eondition of title, or any objection nade es eured o�wbsequently -�: �
waived by Purchaser, thm upan dosing, titte to the rea! prope�ty subJect onty to the lim for arrent t�es, and ��"�
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, approved or waived exceptions shall be insured by a standa�d ovner's policy ot f3[te insurazue et the cost of the Seller.
Sach[i[le policy shall p�otec[Purehaser fran eny daim arising fraa efry mechanic�s liens asserted against the property
.. � for work ubich occurred prior to clnsiM texcludirg�ort pertormed at cbe direction of the Purchaser), sball provide .
. . full survey protection, and shatl delete che standard exceptions 1 thrwgh 6 on Schedule B of tAe studard t{tle '
' � insuranee eamnitmmts,provided that the cost of said survey protection will be borne by the pur�hase�. . ,
�y6 , 16. Survival of Representations,Varranttes ard Covmants: '
� All representecions and uarranties made by Seller herein, ineludirg indeimification,a9reementt '
' ard rights of 6oth Seller arM Purchaser sha([ survive ei ciosing and not merge et closi�g.
. . � t5. Seller warrants and represmts [hat Seiler is rrot nar a parq to a�litiga[ion, erd Setler krious of m litiyatla+o�
_ ' � threatenM titigation�affeeting ihe prape�iy or inalusions, and Selle� shalt give to Purchaser prapt notiee of the �':�r ,�
� � . {nstftutian cf arry sueh I;tigation.SeUer represents that no real estate caim3ssion is due in curtctian with sale of � �
, � � � this property and sellerc shall ;ndemiVfy purchaser fran arry commissioo claia.� t '�
. . �;'�,._'�.,-•
76. Seller warrants and represents that, as of the date of elosirg, there�ill be no delinquent bills fot work,
labor or materials dane,perforniM or furnished that would give rise ta a mechanie's lien against the property. � •
� ; '' 17. This contrect shall he eontingent upon the parties establfshing ihat the Selters have access fran the dcdieated Holland .
Nflls Subdivision streets to 1lccess Easement"F�of the Arbaney Raneh Subdfvfsion, �hfch is uscd te prwide sccess[o
�j Lot 2 ard the rrew Lot 3 ereaied by this transs�tion. This contract witl furtfier be aontingent upon the Purchasa� "
� estabtishing that is bas accesa from said dedicaced streets to thei portim of Lot 3 being purchased.s hercin provided.
�� �_
l8. Ctosirq shal! oecur within tm days of approval by pftk3n County ot the amended sutdivisian p{st veating tbe eleven
(11) aere parcel, aceess rights-of•Nay and iroil easemmts as described Merein snd reeoMation of the a�aended ptat. p�.
i Closing sLall xcur no later tban Januar 1, 1992,exce t rior prittm caismt of the "'''
;.� Y p by p pareies hercco. It is expressly
_ .'� acknouledged hlrein that the closing may be sec for a date after Jenuary t, 1992 at the sole discretion of ihe Seller. . �-
+ A
F he Wrc er i I ���
,�� ��� , �—
��� ick Neiley, Chair , Opm Spaaze and T�ails Board of Trustees I�: .
n Approvcd as to Form: i
r zu > �'
. Wayne Eth.idge, Chairman, Timochy YhiCSict oun[y Attorney �
� � . Board o!�wnty cortmissi er � �I, '
oa«: �/•is•� �
_y Foqr the Seller. � +� . �
-�� NMW✓ �/V�SiD MJa/_ .
� �. - Fierman Arbaney, Gmeral Partner
�
� - flyl d Kitt(e, Cenerat PaMrur � �
_ 1 .
.. �.�`, d.�C(.n.w�.2nrJ(,(�fXMtrnRU ; . .
Fierman Arbaney, owner
_ ���i./O�L/ �Z/l7.ZMO.!�. ' , �
� BeUlah Afbaney, Ouner /� �
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� .
SUPPLEMENTAL AGE,EII+IENT -
. r":.
� TIiIS AGEEEMENT. made and ente=ed� into this �day oE
Novembet, 1991. hy aad betweea ABBANEY EANCH PAg�HIP, LTD.. ,_-� ,
� a Colorado Limited Pactaership, and FIE&N�N A. ARBANEY and ` �'.�
BEULAH B, ARBANEY, harein afte= cefer=ad to as "Sellecs" and �" .
the PITKIN COIINTY BOARD OF COUNTY CODtMISSIONE�S, herein afteL ��:�
refer=ed to as "Purchase=°. WITNESSETHe „
. ,:-� .
WHEREgS, the patties hetetq �nteted into a Cont=act to Buy i•
dnd Sell 8ea1 Estate dated t\.c^1�-�-1b�--.r (, 1991, that l�'
iacludes the sale aad purchase of part of (d) Lot 3, Acbaaey � !
Banch Snbdivisioa coatainiag 11 acres, more or less, aad (b) a !� ;���
fifteea �oot easeutent !or trail purposes extending thLOUgh �"'
portions oE said Lot 3 aad extending westerly and South oE '*� �`•;..
Accass EasAmeat °C" as showa on said Subdividion Plat; that '
said easement is moLe particulariy described iu said Conttact `-
of Sale and Purchase aad is generally shorsn on Exhibit "A"
attached to said coatLact; and.
k�BEAS, the pacties have ag=eed on the locatiori of the '
center li�e of said tLail easement, ho�reve= logistically, the '
. parties acKnovledqe that it may not be possible to ideatify
said tLail easemeat by sutvey to be eompleted befote the �1�
scheduled closiIIq due Lo inclemeat WeatheL. �� .
n.:
NOW �&EFORE. tha patties he=eto he=eby aq=ee as follows: '�`
i :�
1. That the Puschasets will pLOmptly suLVey that part of ; �
Lot 3 included ia the sale and pu=chase, and the Sellers shall �
pzovide evxdence of inezchantible title to said property, and in '�`�.
� ' all manner fulfill the tetms oY the existing contLact vith � �
relationship thereto: that afteL the contiageacies have been
met znvolvinq the amendmeat of the subdivision plat aad �
appcovals as tequi=ed by the coatcaet by �he Boatd of Couaty �:
CommisssionaLS, the sale and purchase of said 11 acre tract �
sha11 close and the total puLChase ptice shall be paid by '
purctcasers co 5e7.�e=s.
Z. That in the event it is possible to sutvey said t=ail
� easement befoce closiag, said easemeat sha21 also be conveyed ;.
by the SelleLS to the Purchasers at closing as in said contract '< ,
p=ovided. ho�rever, if it is aot �' '
possible to complete said trail
easemenr. survey priot to closiag, the parties aqree to the �! „
aiteznatives as hereia p=ovzded: •. ;}°,
. `s, i
• (a) That in the event the PnrchaseLS choose to ,
constxuct said ttail alonq the t=ail easement ;,� ,
f:% acqui=eQ fzom Sellets in the const=uction seasoa ,
of 1992, on the aiiqwaent that has beea aq=eed
upon by the patties, tha Pu=chase=s. aftet ' � '
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approved or waived eaeeptiona shsll be insured by a standard oYner's policy of title insuranee at the eost of the Selter.
'� • Such title potiey shalt procect Purchaser from a�ry etain�arising fran eMr meehanie's lims asserted sgainst the property
' • , for work yhich xcurred priar to elosin9 (excluding+rork perfornKd st the directim of the Puraheser>, shsll provide �. .
full survey proteetian, aM shall delete the�itYrdak�d�exeeptions 7 thragh 6 on Scbedule e of the standard title � �
� t�uranoe eomminnencs, provided that tbe eosYOf saftl s4rvey protectfon�itt be borrie by the purch�se�, - -
14. Survivat of Represmtefions, Wrranties atd tovcnancs:
•.:r .
Alt represmtations and uarrantfes made by Seiler herein,fne(uding;ndemification,e9temients . � � � �
- ard Nghts of both Selter and 7ureheser shall survive at elosing and not merge ai closing. t;•`..
1 � :
. . 15. Seller warrents and represrnts that Sel4r is not nov a party to any litiga[Son, end Selter knous of oo liiigatSon or . .
�threstened titigacion affeccing tbe property or irclusions, and Seller shell give io Purchaser prrnpc notiee of the •
institutim of arry suah litigation.Seller represents thst oo reat estate cammission is tlue fn carnection vith sale of �--;.'( -
_.� thts properiy a'd sellers shall_iodeunify purchaser fran any eammission elaim. It .
16. � Seller warrants ard represents chat, as of the dah of elosing,Jthere uill be no delirquent bilts for�ork, i�
1 labor o�materiafs done,perforwied or furnishcd Mat would give rise[o a mechante's tien against the property.
� �
�� � li. �. 7his eon[rect shall be corttim�ertt upon the parties establishing that the SeUers hsve access trom tLe dediwted Bolterd �� j�
, I � . � Hitls Subdivisim strcets to Access Esse�nenc "F°of the Arbaney Rsnch Subdivision, which is used to provide aecess to {' .5
� lot 2 ard tAe ne�Lot 3�reated by this transac[ion. This contraat wilt further be eontingent�pa�the Vurchaser Ro ;'%
- i establishing that is has access from said dedicated streecs to that poriion of Lot 3 beirn�purchased ss herein prwided. . �-�.� �
� ��j . {' .,F,.
� i . 18. [losiag sball occur witAin cen days of approval by Pitkin Coimty of the amended subdivision plat ereatiny the elevm �
. �{ � - (11) aete parcel, acress rights-of-way and trait easements es described berein and recordation of the amendcd�plat. -
� Ctosing sball xcur no late�than January 1, 1992,except hy prior uritten consent of the parties Aereto. [t fs expressly - -
acknowledged h ein that the etosing may be set for a date after January 1, 1992 at the sole diseretion of the Seticr. � �
F he � rc � r � . . . . . .
� � ' �
iek Neiley, Lhairn , pen Spa�e and Trailt Boazd of Trusms � '
.Approved as[o Form: � .
�
- . �'� Yayne Ethridge, Chairman, Timothy Yh' sitt ounty Attorney � - � . � . , �
,I 8oard of Can[y Cwmissioeers � � � � �
u Date' � . . . . � . . '^.
. . For�the Selle�: . . � _ _ . . . -�� . .
� /J
�i . �.LlA.fii4Gf/!J �hY .�.rL./_ �
' Fierman Arbnnay, General Pertncr� � . . . r�
. . . . . .i'� . .
j ,
Vyl Kittle, 6e�� .• :�.. �. � .. :_... � . ." . � . . . � . . �
�
� �-` ��,,�(�,�p,�,�,, ' •
Fierman Arbaney, owner �
` Beulah Arbaney, Ouner - � � �,�,�;
/��/p/ . !tii �
Date• � � - i�� -
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F .,� ��� b. %.� f � � --��'. ��,�-s��l�d¢r �� ��� s�,c^ �}���� $r
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l�.t� �x�'�'i�?����"�o9{A".►�1...�},. ,.��.n`��t,,ca,�"s''�i�rT � �.�.M �f A x �tT�}�`�� !y � 7.� � .
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SiIPPT,EMENTAL �GHE@+iENT .
TEtIS AGBEEN�NT, made and enteced� iwto chxs - ���ay oP ,'��-r"'�
. NovembeL, 1991. by aad betweea ARflANEF RANCH PAETN�RSgIP, LTD..
a Colorado Limited Pactnership, and FiE&t�N A. AxBBNEY and �
BEULAH H. ARBANEY, hsrein afte= referzed to as "Se1lets° an.d � ` '••� .
the PITKIN COIINTY BQARD OF COUNTY COMMTSSIONE&S, herein aEtet f
� tefe=ced to aS "Pn=chaser", WITNESSETH. f
T�REAS, the pacties b.eLet°� �ntaLed into a Cont=act to Suy
dAd Sell 8ea1 Estate datied IVc�v Q-�-�,v� �o, 1991, that '
� incZudes the sale auII purchase of patt of (a) Lot 3, A=baney ' ;
8anch Subdivisioa contaiuing li acres, more ot less, and (b) a i:.
- � fifteea foot easewent tor t=ail purposes extendiuq thsouqh �''�
" ; portions oE said Lot 3 and extending westerly aad South af �-;;'-,
,�' AcCess Easemeat "C" as shown. on said Suhdividion Plat; that Ir ;
a•; said easemant is more parCicnlatly described in said Coni=act .
� of Sale aud Purchasa and is ganerally shor.m on Exhibit °A° t
attached to said contract; and, `
WI�BEAS, the pa=ties have aqreed on the 2oaatioa of the '
ceatet Iiqe o� said tLail easement, hovevez Ioqistically, the '� .
,;� parties aaKnowledqe that it may not be possible to ideatify �'
. said trazl easemeat by su=vey tp_be completed before the
scheduied ciosiag due to iaclement weather.
h'' r NOW T�REPORE, the pa=ties heLeto hereby ag=ee as follows: '
y �Fx
1. That the Pu=chaseta wi,ll p=omptlF su=vey that part oE
� Lot 3 included in ths sale and purchase. aad Lhe Seliers shall i
" ptovide evzdence of inetchaatibie title to said prope=tp, and ia. i
ali manner fuifill the tecros oi t12e exf.stiug coatract with �
celationship theteto: that aftec the contiaqenci.es have been I
met iavoiving che amendmaat of the subdivision plat and ;
approvals as requi=ed by the coatcact by th� Boa=d of Gounty -
Comn¢isssione=s, the sale and pu=chase of said 11 acte Lract .
shall close and the 'COta2 puLChase price shall be paid by ,
; . Purchase=s to Se�ieLS.
�
, `..� 2. That in Lhe event it is possible to su=vey said ttail
easament befote closiag, said easemeaL shall also be conveyed
, by the Sellets to tkce Purchasers at closing as in said conttact ;
� pxavidea, 8ovever, if it is not possible to complete said t=aii �
� easement survep pcior to closing. tke pazties aqree to the '
,<;� aitezuatives as herein provided: - _
� ' (a) That in the avent t5.a Pu=chdse�s choose to �' �
-'� coastruct said ttail alaaq the trail easement �
acquiseG Lzom Sellers in the coastcnctioa season i
,�i of 1992, oa the aligament that has been aqreed
upon Dy Lhe parties, the Putchase=a, aftet
��� 1
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i ' � � �llx��'�' ti'� t� ��! .:�� ^�, ' �. t ��4� �v@i13��.4.��4 a�) �,.x�'st �' •
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. �� � ';��r�,����������± .�'�" _,•����SS�'��•�,�'���'�x..,�_�.ahe� .,�.���FSt�.
,,. � .
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constcnct'zon, vill p=ovide aa as-built survey of _
� t�e tLail aad the 8alla=s will deed said Lrail �'`r
� easemaat to the Purchasers based oa said as-built
+ survey: f;:,;�;
1
� (b) That ii the Putchasers determine chat it is ;`:.��• -
i not feasihle to complete said trail alonq said ' .-t
ttaiZ easement dnLinq construction season of � �.�
; 199Z: the parties agtee to designate the align- ;.:r
! ment of the easement that has been agceed upon, ��� • .
} aad the Pu=chase=s shali eause said aliqnment to ;�� ;
{ be st�sveyed and che Sellers agzee to convey to �, ;
� Purchasers said uazl easement basad on said "=�� ';�
�' survey descriptioa. • . I:�i;,::.,
. � .:
;:; , ; .
3. That ia the event coaveyaace oE the easemeat is post-
poued as above ptovi.ded, at the closiaq of the sale ot the 11 .
acre t=act. the parties shall execuCe and reco=d a memoraadum
which shall qenerally desc=ibe the trail easemant, defiae the
Purchasers istteiest the=ein, and provide that th0 easement vill _
� be mo=e particula=ly desc=ibed by subsequent coaveyance. `.�; ' .
. +
P SERS- SELLEBS: . '.'?�?
� ARBANEY HANCS PARTNERSHIP. LTD. .;:"'' �
� / `,�4:
icit Neiley; haitman, � /�
i•. V
Opea Space �aad TLails 8y:����.�1.C. �����''�
�' Board of Trustees ,, Fiermaa A. Arbaaey, Gene al Paztne= l.`, ;•
,' f//' �! �, `,
d y i: :
� Yi i CountY Comwi s oaers, Wy aAd KittI.e,��cal Partner �; �
`� Wayne thtidge, Ch x an �
;i // p ',r., '.: .
'I APP80VED AS TO F'ORM: c����� `^ � �rLGa�.�
Fieimaa A. Axbaney . �
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°1 Tim Vihitsi�t.t, nty Atto=ney ���� y L���� . ._
`� Beulah B. A�baney � =
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