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3,- #35I3?B 12/02I92 15:32 Rec �.OU BK 696 PG 130
,��� 9ilvia Davis, pitk.in C�ty Clerk, Qoc #.00
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_ -� A RESOLUTION OF TAE �":
BOARD OF COUNTY CObII�1ISSIONERS r_" �
:,� OF PITKIN COUNTY, COLORADO, AUTHORIZING
� EXECUTION OF THE REEDER REAL ESTATE CONTRACT �'�-=�' ,
,:T.:-�.,.:'
� �/ h�7
_ RESOLUTION NO. 92- �°7 " r
� WHEREAS, The Voters of Pitkin County and the Pitkin County �� si'
- Commissioners have estabZished an Open Space and Trails fund and ±'���+x
i an Open Space and Trails Board of Trustees for the purposes of �"� ' '
-� y,
preserving and developing open space and trails resources in the
_ County, and x,-
; �� WSEREAS, the Open Space and Trails Board of Trustees, has, on �
behalf of the County Commissioners, has entered into a contract :' � � '
�k � with Lyle Reeder, Stanford Johnson, and the Wolftone Corporation
(hereinafter "Sellers"), for the purchase of real estate (the
! � "Reeder Property") that is appropriate for open space and trail �
� use, and �;�
r� iIPHEREAS, -Attached as Exhibit A, and incorporated herein by '
� reference, is that contract.
�,� ��'•
NOW, THEREFORE, BE IT RESOLVED, by the Board of County
Commissioners of Pitkin County, that:
Section 1. The Board of County Commissioners of Pitkin County
,��� • hereby grants approval of the purchase of the Reeder Property for -�� "
O en S ace ur oses. "'""
P A P P ,;'•.,;°•.
Section 2. The Board authorizes its Chairman to execute the �
Real Estate Contract and associated addenda attached hereto as °';
Exhibit A.
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#351379 12/02/92 15:32 Rec �.0� BF: 696 PG 130
` Silvia Davis, Pitkin Cnty Clerk, Doc $.60
�
-.. a A RESOLUTION OF THE '.
, a BOARD OF COUNTY COMMTSSIONERS ':
OF PITKIN COUNTY, COLORADO, AUTHORZZING i'
' � EXECUTION aF THE REEDER REAL ESTATE CONTRACT
� RESOLUTION NO. 92- �e7 �,
"� WHEREAS, The Voters of Pitkin County and the Pitkin County �
� Commissioners have established an Open Space and Trails fund and k'
. I an Open Space and Trails Board of Trustees for the purposes of �
_ preserving and developing open space and trails resources in the �
County, and �-
� i
WHEREAS, the Open Space and Trails Board of Trustees, has, on "'
,;; - behalf of the County Commissioners, has entered into a contract
1 with Lyle Reeder, Stanford Johnson, and the Wolftone Corporation
"' (hereinafter "Sellers"), for the purchase of real estate (the
� ;;', "Reeder Property") that is appropriate for open space and trail
use, and
�;
� '�". WSEREAS, -Attached as Exhibit A, and incorporated herein by
r�`'� reference, is that contzact.
NOW, THEREFORE, BE IT RSSOLVED, by the Board of County
Commissioners of Pitkin County, that:
y,,� Section 1. The Board of County Commissioners of Pitkin County
• hereby grants approval of the purchase of the Reeder Property for
�;, Open Space purposes.
� Section 2. The 8oard authorizes its Chairman to execute the
Real Estate Contract and associated addenda attached hereto as
Exhibit A.
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#351378 12/02/92 15:32 Rec 3.00 BK 696' PG 131 �T''a?;
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;! Silvia Davis� Pitkin Cnty Clerk� Doc $.00 , "
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,, �DAY OF , 199 f�
_,� INTRODUCED AND FIRST READ ON THE �_ .
/� DAY OF a�
_ A1PPROV�Dp AND ADOP�T�ED UPON SECOND READING ON THE �(�_—. f: � '
�11.Q�'"'�"_' 199� ,j,�
T�� DAY �� +•:
PUBLISHED A ER ADOPTION IN THE ASPEN TIMES ON THE � ,�,�
- OF '
199 f� ` '� -:
COUNTY COMMISSZONERS '` F'�'
-� AT'D ST BOFRPITK N CO ,,COLORADO
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` B g i ;
Jam R. rue, ;,,r •'
Je tte Jon Chairman
D ty Cler nd Recorder
APPROV D TO O AP D AS TO CONTENT:
�` �\ � 3�2 ,t
Fv�.. ,_
Reid Haughey
Timot y . hitsitt County Manager r
Count A to ey � '
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#3513'?B 12/02/92 15:32 Rec #.OU BF: 696 PG 132 i �
Silvia Davis, Pitkin Cnty Clerk, Doc �.On �r ,
�� � - The pNnled portlonsMthis form approved b� I Y., � '
t6c Calor�do ReH Es1uu Comnisston(AFAI•aW � E."'�y�w� �
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� -1 THISISALEGALINSTRUMENT.IFNOTUNDERSTOOD,LEGAL,TA%OAOTHERCOUNSELSHOULDBECONSULTEDBEFOHESIGNING. ��• � �'�
� t�'��.
� AGREEMENT TO AMEND/EXTEND CONTRACT �'r
I r�,
! November 10 I9 92 � '� ;
- I RE:Contractdated September 10 �g 92 �i,�een Pitkin County Soard of �- 4�:'�
County Commissioners (BOCC)'. G'y`�'t
Lyle D. Reeder ,(Eurchaser)and ,q�...;,F_,,,, ;
,(Seiler), 7� ;;
' relating to the sale and purchase of the following described real estate in the sa1 Coun[y of ``S,
Pitkin Colorsdq: � �?:'.'
A portion of Lot 2b, being designated Tract 'B", and areas designate y�-,;;._•
Parcels "B" and "C", located in unincorporated Pitkin County, contai ing 1
� 'ti, 19,817 square feet, more or less, and as more fully shown and descri d �< < �
� in Exhibits "A" and "B" attached hereto, together with all interest f
j the Seller in vacated streets and alleys adjacent thereto, all ,�•;�4
� easements and other appurtenances thereto, all improvements thereon d
�fie Proaeitd fixtures thereon, except as herein excluded, and called { i�
also knownas No.y� (Property).
��.��
Purchater and Sellerhereby agree ta amend the aforesaid contrac as follows• 'i.
L The date for closing arxl delivery of deed is changed t�cember 10 19 92
2.The dare for furnishing abstract of title or commitment for title insurance policy is changed to
`� ,19—.
w,,,r 3.The date for delivering possession oF Property is changed to ,19_.
4.The date for approval of new loan is changed to ,19—.
5.Thc date for lender's consen[to loan assumption or transfer of Pmperty is changed to
,lq—.
6.O[her dates set forth in said contract shall be changed as follows:
�� �'
� '� � ,
�
'� 7.Additional amendments: �
� a) Delete Paragraph (16) .
�� b) Add Revised Paragraph (16) as follows:
The area designated as Lot 20 "C" on Exhibit "A" and consisting of
approximately 2,171 square feet was created as part of the negotiat ons
leading to this Contract to permit the adjoining paroperty owners to +��.
purchase Lot 20 "C" in order to correct a survey error. Parties agr e � 4�;.;
that this Contract is contingent on the inclusion of Lot 20 "C" in �r R��'�.j;".
this transaction, either by means of sale to the adjacent landowners r
,� which sale will close simultaneously with the closing on the sale of the � �x�l� `
1 '
remainder o£ the subject property, thereby avoiding the creation of � fi'�' r.
rsz;
non-conforming lot due to this transaction, or by means of donating '��'.-ai :'
Lot 20 "C" to the County simultaneous with the closing on Lot 20 "Tr ct ;f`1 3 `
5, °- _
� B" at no cost to the County. Failure of the Seller to eliminate Lot �� ,�♦
;�� 20 "C" as a separate parcel through one or the other of these method prior �'•;
to or si lt eous with closing will render this Contract void. �
� All o te s co 'ons of said contract shall remain the same.
,� ^"cdi`� Pitki Coun BOCC�� ,a� �"v �D. R e er � �
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Na.AFA48-N. ACREEMENTTOAMENDf6XTENDCONTRACT ��;' ��
. &�dfoM Publishin{,1791 WueeSl,Denver,CO 80202—(]03)392-2500—4-92
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k351376 12/02/92 15:3c^ fCec b.00 9K 696 PG 133
Silvia 4avis, Pitkin Cnty Clerk., Doc �.t]O r"
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� f Thr prMlcd porlbnsotthis form approred by I `� .
- _ �� IhcCDlo[ado I4a1 EslYle Commis5lun�AE�Ii.l67 Y �. � .
',;�.�f.
.�- �3 THIS IS A LE6Al INS7RUMENT.If NOT UNDERSTOOD,LEGAL,7AX OA 07HER COUNSEL SHOULD 8E CONSULTE�BEFORE SIGNING. �f,-�,
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- AGREEMENT TO AMEND/EXTEND CONTRACT
��
� October 22 19 92 '' '
� ,
� Rg Conhactdated September LO �y 92 bet�� Pitk3n County Board ' �'� ' `�
: of�County Commissioners $OCC �' � ;t�`
_� ,(Purchaser)and yh,�r�
Lyle D. Ree er ,(Seller), �-:a'�
Pitkin o the sale and purehase of the foilowiog described rea!estat�}n the.__ said �.our,ty of � �ic.
; � ,Colorado: I� y ,.
A portion of Lot 20, being designated Tract "B", and areas designated
� Parcels "B" and "C", located in unincorporated Pitkin County, containing �
�� 19,817 square feet, more or less, and as more fully shown and descrihed in �
Exhibits "A" and "B" attached hereto, together with all interest of the Seller ��
in vacated streets and alleys adjacent thereto, all easements and other
appurtenances thereto, all improvements thereon and all attached fixtuzes thereon
except as herein excluded, and called the Property. �
also known as No. (Property}.
� '
Perchaur and Seller hereby agree to amend the aforesaid contract az followr. $
1.The date forclosing and delivery of deed is changed to Novemher 12 �19 92 �5
$ 2.Tfie date for furnishing abstrac[of title orcommitment for title insurance policy is changed to
�';�"s.),� ,19_. .
�' y � 3.T6e date for delivering posxssion of Property is changed to ,19,.
4.The date for approval of new loan is changed to ,19—.
5.The date for]ender's consent to loan assumption or transfer of Property is changed ro
,19�.. �
6.Other dates set forth in said contract sha11 be changed as foltows: �
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r; 7.Add'uional amendments. �
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ll othcr and "tions of sa� co ract shntl remain the same. �
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P'"`"" itkin County BOCC °a" �`"" Ly . Reeder � °i�
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" #351378 12/02J92 15:32 Rec �.U4 HY. 696 PG 134
''� Silvia Davis, Pitkin Cnty Clerk, Doc �.00
. ,
'�I`� The pdnled porllom af lhb t rm approred br t '
the Culo�Wa Resl Fst�t�Commisstea UE��.s.ut -
� . � TMISISALEGALINSTRUMENT.IFNOTUNDERSTOOD,LEGAL,TAXOpOTHERCOUNSELSHOULDBECONSULTE�BEFORESIGNING.
._ .. . ���•:}
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i AGREEMENT TO AMEND/EXTEND CONTRACT
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! ' October 21 �9 92 ;�T.:�=:
, 1 k
� RE:Contrac[dated SepCember 10 �g 92 yetween Pitkin County '� ,
� Board of Gounty Commissioners (BOG�C) ,(Purchazer)and i:'.
! Lvle D. Reeder (Seller),
� relating to the sale and purchase of tt�e following described real estate in t6e said �ounty of � ���� `
'j P i tkin ,Colotado: � `��'`.
- + i
1 � A portion of Lot 20, being designated Tract "B", and areas designated
u '� Parcels "B" and "C", located in unincorporated Pitkin County, containing
{. ? 19,817 square feet, more or less, and as more fully shown and described in �":<:
+,;; Exhibits "A" and "B" attached hereto, together with all interest of the Seller ,r,
' in vacated sEreets and alleys adjacent thereto, all easements and other
� ag�u�p�enan�es �heretq a7�1 imgrovg�e�ts�heh�rooe �nd all attached fixtures thexeon
e� as ere n exc �ide , an ca e p r y-
� aiso nown as No. (Property). �
� , .
.,� Purchaser and Seller heaby agce to amend the aforesaid contract u folbws: �
1.The dale for closing and delivery of deed is changed to 19—. �
2.The da[e F�Fur '�ng abstract of tit�e jo commitment for tide insurance polity is changed to �,
,19�—v. �.
3.The date for livering possession of Property is changed to ,19 r.. �',:
; 4.The date for approval of new loan is changed ro ,19,.
�2:� ' S.The date for lender's consent to loan assumption or transfer oF Property is changed to �
•. .19�. �
s �
-� �
`-� 6.Other dates set fotth in said wntract shatl be changed as follows:
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., 7.Addiponai ameittlments: �
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'' ' othe rms a co '[ioas of said cartract shall cemain the same. �` , ,
10/21/92 ��"`�' �--�� 10/21/92 ' ,
� -r �'"`w'°`� it n ty B °a` �`°° Lyle D. Reeder � O1' f
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No.AE41-8-84. ACREEMENi TO AMEND/fiXTEND CONTAACT
�-"� . � . Bndta[dPuhti�hin{,I7�3WaxaSl„pemer�C080202—(30JI242.2300-4-92 ' - . � . .
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� • #351378 12/02/92 15:32 Rec �.00 E2Y. 696 PG i35 ;�i.;;;
-. . Silvia Davis� Pitkin Cnty Clerk, Doc �.40 -
i•,
VACANT LAND/FARM AND RANCN (Rev Pg 1) ��., ..
CONTRACT TO BUY AND SELL REAL ESTATE �t�,
; SeUa's Rcmedy Liquidated Damages(Suuon 15}
; (TEXT OF FINANCING SECTIpNS OMITTED) t '
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. . �; _'i�.?'^...��-;
- � Septearber 10, 1992
- -- -. tA 1. PARTIRR AND PROPF.RTY, pitJtin County Boud af County Commissioners[HOCC],purchaser(s)[Purchaser], �
{� �grees[o buy,and Ihe undersigned seller(s)[Scllcrj,agrees to sell,on the terms and coaditions set Eorth in tkis contzac4 the
_ .. . �� Following described real esute in the County of Pitkin,Colondo,to wit:
�� A portian of Lot 20,being designated Tract"H",and areas designated Parcds"B"&"C", ?��
4� . located in unincofporated PiUtin Counry,containing 19,817.,square feet,more or less,and az mo[e fulty .
n sAown and described in Exhibits"A"and "B",attached herea,
�
� � �� together with all intems[ot'the Shcer in vacated sttens and alleys edjacent�hereto,all euemrnCs and other appurfenances c�
therem,a1t improvements thereon and al!attached Futures thereon,axcept as heroin excluded,and celled the properry. '��
- � 2. TNGL.USiONS, The urchase rice iacludes the followin ��
} p p g items(a) if attached to the Rroperty on ihe date of this �
. �� contracti lighting, Aeating, plumbing, ven4lating, and air eonditioning �xtura, TV antennas, water softeners, i
smoke/fae/burgtar alums,security devices,inside telephone wiring and connecting blocks/jacks,plants,m'vrors,floor
ewmng,intercam systems,built-in kitchen appliances, and sprinkler systems and controls; (b) if on the Properiy T
� ��-- � F whether attachsd or not on the date of this con�act built-in vacuum systems(including accessories),sWno windows,s�orn� �
� � - � doors,window and porch shades,awnings,btinds,sereens,curtain rods,drapery rods,fueplace inserts,Cueplace saeens, - �
�. � £veplace gratu,heating stova,storage sheds,all keys and gazage door openers including remote conhols:and(c) None.
�•"�- (d). Water Rights. Purchase price ro include the following water rights: All weter rights,if any,held by the �
� � Shcec appucfenan[10 the Aoperiy,
` --� (e). Growfng Crops. With rapect to the growing crops Seller and Purchaser agree es fallows: None. �
•: A
' y llte a6ove desccibed included iiems(Inclusions)are m be wnveyed to Purchaser by Seller by bill of sale,deed or .
. .� y other applicable legel instrwnent(s)at the ebsing,Cree and clear of ell tazes,liens and encumbrances,except as provided in � �
rA section 10.
_ - ��. :� �,�'� ..
The following attached fixtures ue eaccluded from this sale: None.
� 3. P_URCNASF. PRiCF. AND TF.RMS. '('(le purchase priu shall be 5350,000.00,payable in[3S.dollars by .
_ Purchuer as fo4owa{complete[he applicable mrms below): � k; •
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(a) Earnest Money. $30,0OO.OD in the focm of w'ved funds,as eamest money deposit end part payment of the purchase
�3
price,payeble to and held by ASPEN TLTL6 CORPORATION,600 E.Aopkins Av.,Aspen,Colorado 81611 (Phone
- �j 303+920-4Q50),as Closing Agrnt,in agent's trust account on 6ehaif of both SeUer and Purchater. �
'� (b)Cazh nt Cbsin.5320,000.00 to be
g paid by Purchaser a[closing in eash.electronic vsnsfer funds,certified eheck,
`��i sevings and loan teller's check,or cashiers check Subject m the provisions uf section 4,iF the existing fosn ba{ance at -� .
; ,� . the time of elosing shall be differen[from the loan balance in section 3,the adjustmen[shall be made in eash a[cbsing or �� �
� paid as follows: No[applicabla �
.: � 4. �OOD FUNDS. All payments requ'ued at closing shall be made in funds which comply with all applicable Colorado �5:., �' �
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laws.
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_ 5. NOT ASSICNABLR. 7'his contract shall not be assignabte by Purchaser without Seller's prior written consent. � �.'
Except az so restricted thiz contract shall inure w ihe benefit oC and be binding upon the heirs,peesonal cepsaenta�ives, � ;:�.�-.
sueeessors and assigns of the parties. � ��,
� 6. EViDENCF. OF TfTLF., Sellcr shall fumish to Pumhaser,at Selleis eapense,eithcr a currcnt commi4nent for ; j .�� ���•
owners tide insurunce policy in an amount equal b the purchaze price on or before Septem6er 25,I992. Putchnzer mey ,w� ?.�
require of Seller that rnpies of instrumen�s(or absuaets of insWments)lis�ed in lhe uhedule of ezceptions(Exceptions)in ;� � �:�
lhe tide insursnce eommitment also be turnished to Purchuv at Sellers enpense. This requaement shaU pertairt only w ;�s i��:, �
instruments shown of record in the office o[the derk and rcwrder of Ihe desi nated coun or counties. The ti0e insurance 7�7.�,,•.:-� :
6 �y .�
wmmitment.Wgether wi�any copies or abstracts oC insuumenu furnished pursuant to[his section 6,consthute the dtle '3 �,,�:�-'..
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' � #351378 12/02/92 15:32 Rec �.Od BK 696 P6 136 ('�'r.'�-
'� • , , Silvia Davfs� Pitkin Cnty Clerk, Doc �.00 i-.�.`.; '
. . l`�">:-
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_ documems(Tide Doeuments). Parchaser must request Seller ta fumish copies or abstracts of insWmenls listed in the -
� schedule of exceptions no later than five(5)calrndar days a(�er Purchaser's rcceipt of the tiAe insurance commitment. (f � �. �
. �,k�Y.�K%�:�...•�::
Seller furnishes a title insurence rnmmi4nmt,Selier will have the tiUe insuraece policy deGvemd to Rrchaser as soon es � -a;:..., ,
; prac[icable after closing and pay�he premium at closing. -�� -.
._ ' 7. TiTI,F.:(a).Title Revlew. Purchascr shall have the right ro inspect the Title Documents or abs�ract. Written ��?4 �}3��
. ? notice by Purchaser o[unmerchantability of title or of any o[her unsatisfacrory titk cottdition showe by the Tit2e >;:-;ir��
. � Documents or abstract shall be signed by or on behalf of Purchaser and given to Scller or Listing company on or befote 7 ���4:2.��,�•�. .
� s eakndar days afier Purchaser't receipt of Tille Documents or abstract,or within 6ve(5)cale�ar days after receipt by '.t��'�'-�
� � � Purchaser of any Title Document(s)or endorsemenl(s)adding new Ezttption(s)to the title eommitment togethtt with a '' �
� copy of the TiQe Document adding new Esception(s)to titla If Seller or Listing Company does not receive PurcAasers F���
-�� ± notiie by the date(s)spccifed above,Purchaser shall be deemed io have accepted the eondition of tille as d'uclosed 6y the ;j�; �1���'
. . TiHe Documepts u satisfectory, . !.
i {b). Malters Nol Shown by the Public Records. Seller shall deliver to Purchaser,on or 6efore the date set fortlf �:���
� .,:+ .in aection 7,txue copies of ap leax(s)and survey(s)in Seller's possession pertaining w the Property and shall dixbse m ��'
. Purchaser all easements,Iien or other tille matkrs not shown 6y the public record of which Seller hu acmal know{edge. '�`
� 1 Purchuer shaU have lhe right to inspect the Property to determine if any thutl puty(t)haz eny right in the property not �i
. 1 ahown by�he publie records(such as an unrecorded easement,unrecorded lease,or boundery iine discrepancy). Written �� '
-- - `� � notice of any unsetisfactory wndition(s)diulosed by Sclfer ot revealed by sueh inspection shall be signed by or on behalf -
� �� of Purchosa and given to Seller or Listing Company or or before Ocwber IS,1992. [f Seller or Listing Company does not � ��
�. '�. � ;��,��� receive Purchasers notice by said date,purchaser shall be deemed to have accepmd tiAe subject to such rights,if any,of . '� -. .
� lhird parties of which Purchaser has actual knowledga �
�ti�,� (c). Right to Cure. If Shcer or Lis[ing Company receives notice of unmerchantability of 4Ue or any other
. unsatisfactory title condition(s)es pmvided Sn subsection(a)or(b)above,SeUer shall use reesonabte effort to co�ct said
yyY unsa[isfacmry ufle condition(s)prior w[he date of closing. If Sella fails to corsect said unsaGsfac[ory titie condition(s)
` � on or before the date of closing,�his wntraet shall then terminate,subject to section 15;provided,however.Atrchnser
. � may,by written notice received by Seller or Listing Company on or before closing,waive objecuon m said unsatisfacWry
�`-� tifle condition(s). �.1��.,
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�; 8. �TR OF CLOSiYC. The date of ctosing shatf be Ocwber 28,1992. The hour and place of closing shal!be as
� desi na4d b Sellw. Closin date,ume and lace ma be chan ed u until the time of elosin �!�"-c�`�
� 8 Y B P Y B P g by mutual agreement of the
�.� par[ies.
4
�-.� 9. TRANCFEB 06 TTT►.F., Subject to tender or psyment on closing as requ'ued herein and compliance by Purc6aser �-'�f�- . .
� � �����si wi[fi the other recros and provisions hereof,Seller shall execuk end deliver a good and sufficient Special Wazranty Deed to
�� . � . Purchaser,on closing,wmeying the Properiy&ee and clear of aIl taxes except the genual ta�ces for the year of cloring, �
md ezcepL• easemenu of rewrd;free and clear of all liens for special imiaovements installed as of[he date of Purchasei s
- � � signemre hueon,whe[her assessed or no�except distribution utifity easements,including cable 1'V;exxpt thou matters � ' �
�_ ? reflected by the Ti4e Documents accepted by Purchaser in accordance with subsection 7(a);excep[those rights,if eny,of ���
� � third perties in the Property not shown by the public records in accordnrtce with subsaGon 7(b);and subject to building and �
� . � � wning tegulations,
�
j 10. PAYMENT OF ENCUMBRANCE . My encumbcance requ'ued to be paid shall be paid a[or before the time of t-�
- :.� set@emrnt 6om the proceeds of this transaction or from any other souse.
11. CL.00iN CO T . DO MSNTS AND .RVI-FC, p��haser and Se11er shall pay Weir rupmtive closing
� � costs al closing,except az otherwise provided herein. Purchasa and Seller shall sign and complete all customaty or ccquired .� . �
�:-i doc¢ments a[or before closing. Fees for real esWte closing and set�(ement services shall not exceed 5300.00 and shall be J,
� i paid a[closing by Seller and Purchaser. 1}�_�
i;
;__�4 12. PRORATiONS. General tazu for the year of closing,based on the most recenl levy and the mos[recent � =
1 assessment,rents,water a�sewer charges,owner's associalion dues,nnd interest on continuing lnan(s),if any,shnll be . �-�
prorated to date of closing. Any sales,use md trmsfer laz that may accrue because of this transac4on sha11 be peid by ��Y F�-
Purchaser. When the ectual taxes are known,Shcv and Purchaser ahall re-prorate 1992 taxes to the date of elosing in );v. .1�
- proportion to the square faotage of the subject property and the fathering pazcel,an4 if any payment is required W adjuct -°� r3'
the prora�on to tho ncmal[axes as delermined by�he Treasurer's office and the Assessor for Pitkin County,seid paymrnt �:����;�'�
shall be made by the Shcer. Any sala,uu and transfer tax,including aR real estate nmsCer taxa,thnt may accrue because � �'�-
I-;,� of this transaction shall be paid by the Seller. 4� � �
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�� 13. POSS .SSiON. Possession oF the Pmperty s6all be delivered ro Purchasu as(ollows: Upo�deliver of deed. �ir1`' +
Subject to the following lease(s)or tenancy(s): none. -� :
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� #351378 12/92/92 15:32 Rec �.60 BF: 696 PQ 137 !'.'.'`• �
� Silvia Davis� Pitkin Cnty Clerk� Doc S.Oq J,"�;,
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' .. -
�'� tf Seller,a$er closing,fails to deliver posseuion on ihe date hercin specified,Scllcr shall be subject to eviction `�.�� �
- and shall be additionally liable to Purehuer for paymcnt of S200.00 per day from the date of agrced possession until !��:'��-"••��
; posse:sion is dclivcred. � � � 7
. f 14. �ONDITION OF AND DAMAGF. TO PROPF.RTY, The Property and inclusians shall be wnvcycd in tMeir -� ., ".��
� . j present eondition,ordinuy wear and twr exccpled. tn tAc event the Property shal►be damaged by fire or other euualty ;:,'`;�;;-_,.�.,.'
"� i prim w time of closing,in an amount of not morc than tcn percrnt of thc total purchasc pricc,Scllcr shall be obligatrd�u ,;?.`-�''� �'�
� � :.5:`;T!'syi(c-.'..�.
repair the same before the date af c)osing. In the event such damage is not rcpa'ved within said umc or if the damages ezcecd .LL,;.t,y`;r...... .
�' j such sum,lhis contract mny be hrminated at the option of Purchaser. Should Purchaser dect to catty out this contract
� � _i despite such damage,Purchaser shall be rntitled w nedit for all the insurance proceeds resulting from such damage ro t6e -��?
� . ,- � Prope[ty and Inclusions,not exceeding,lwwever,the total purchase prica Should any[nclusion(s)or scivice(s)Fail or be 'k��q
damaged between the dete of this contracl and the d2te of ctosing or[he date of possession,whichever shat(Ix eulier,lhen
Selle[shall be liable for the repair or replecemen[of such Inclusion(sj or service(s)with a unil of similar size,age and ��
...'� � quality,ot an equivalrnt aediG less any insurence proceeds received by Purchaser covering sach repair or replacemrnL The �•< ��
risk of loss for any damage W growing crops,by Cue or other casualty,shall be borne by the party enti0ed to�he growing Gj y��:��
, � #� crops,if eny,aa provided in seetion 2 and such paR shall be enti�ed to such insuranee proceeds or benefits(or the growing �'- .
: � ccops,if any. �y �
,:e �J'����
� .��.�p 15. TjMF. OF F,SSF.NCF./RF,MF.DiF.S. Time is af the essence heceoE If any nole or check received as eaznest monry ,$
-- � � � hereunder m any other payment due hereunder i�'wt paid honored or tendered when duq or if any othu obGgation haeunder �A'Z,
is not perfovned or weived as hercin provided,thae shall be the[ollowing remedies: � .
�
� (a). IF TAE PURCHASER IS IN DEFAULT:
� '.
�s IF THE BOX IN SUSSECiTON(1)IS Cf�CI�D,SII.LFR'S REbIEDIES SHALL BE AS SET FORTH IN '
� SUB5ECTTON(1)(SPECIFIC PERFORMANCE].IF SAID BOX IS NOT CfIECI�D.SELLER'S REMEDIES
'` SHAIL BE AS SET FOR1H IN SUBSECl'ION(2)LIQUIDATED DAMAGES].
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_.,^^� (� (1) SPECIFIC PERFORMANCE.
(Omitled—No[Appliceble). ,
.y (X) (2) LIQUIDATED DAMAGES. �
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All payments and things of value received hereunder shall be forfeited by Purchasu and retained on behalF of Selter :
�:_ � and both parties shal]thueafter be releascd from all obligations hereunder. It is egroed that such payments and�hings of �i
value are L.IQUIDATED DAMAGES and(excepl as provided ia subsection(c)are SELLER'S SOLE AND ONLY REMEDY for
Puechasec's failure W perform the obligaGons of tliis con4acL Seller expressly wnives the remedies of speciFic perfonnance
, end additionnl damages. .
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(b) IF SELLER IS IN DEFAULT: Purc6�ser may elect to I�eat Ihis convact as cancdled,in which case all payments . �
- and Uiings of value received herounder shall be re[utned and Purchaser may elect fn treal tltis conhact az being in full force
�� - and effect end Purc6uer shall have the righl lo specific perfocmanx or damagu,or both. �
�
(c) COSTS AND EXPENSES. Anything to the contrary hettin aotwithstanding,in the event of airy litigation or
arbitmtion azising out of this contrec4 the court shall award to the prevailing parry all reazonable wsU and expense, ���
' ineJuding attomey fees.
.��-.� ' 16. �RNRST MONF.Y p�PUTF.. No[withstanding any tumina[ion of this contract,Putchaser and Seller agree lhat,
in the event o[any controversy regarding the eamest money and Urings of velue held by broker or closing agent,unless �
�� muWal wri�ten instructions are recoived by the holder of the eamest money end things of value,broku or dosing agent �
shall not be required to take any action but may await any proceeding,or at broker's or ctosing agenfs option and sole
� discretian,may interplead all parties and deposit any money or�hings of value into a court of competent jurisdicflon end � �
� . . . shall rccover court costs and masonable atwrney fees. . .
� 17. INSPF.CTION. Purchaser or any daignee,shall have the right to have inspection(s)of the Qhysical condidon of s'; ,.
the Proputy and Inclusions,nt Purchasers expensa If written notice of any unsatisfactory condition,signed by Purchnsa, '� �
� is not received by Sellcr or Listing Company on or befwe 30 days following the ezecu[ion of this Contract by both parties, '� ' ��.'-
,_.i the physical condition of the Property and Inolusions shall be dcemed w be saUSfactory to Purchaser. If written notice of '+ }��
'� any unsatisfacWry eondi6on,signed by Purchaser,is given to Setkr or Listing Company es set forth abovc in�his seUion. ?`�. fit �,
��u� and if Purehaser and Seller have not reached a written agrcement in settlement thcreof on or before date of closing,Uus ;S u�� .
rnnUact sholl then terminate,subject to seeGon 20,below.Purchaser is responsible and shall pay for any damage whieh
�_,.,4, acurs to the property a�d Inclusions as a�iesult of such inspection. xa�"'"t����� .
� ��
18, ADDITIONAi.PROVIS[ANS: See Addendum uttached hereto and incorporated herewithin by reference. t��'�
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; � #351378 12/02/92 15:32 Rec $.00 HK l�96 P6 138 ""'��,
` • � Silvia Davis, PitV,in Cnty Clerk, Doc �.00 '•�+". �.=
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��� 14. RF.GONMF.Z,{DATiON OF L.F.CQ(. CO(lNSEL. By signing this document.Purchaser and Seller acknowledge r",�^
that the Selling Company or the Listing Company hns rccammcad that Puzchaser and Scllcr obtain Ihe advice of their own ` `� .
legal counsel regarding examination of dtle and this contract. ( ,.��-.} ;.
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20. T �_�MiNATiON, [n the event this contract is terminated,all paymena end things of valuc received hercunder shall �� �> �..,��
be returMd and the pardes shall be relieved of all obligations hereundcr,subjcct to section 16. '�`�'�"�`..�i��
. . � R� P�.�:
� 21. NOTt . OF A CF.PTANC./COiINTR$PARTS. If this ptoposal is accepted by Sellcr in writing and Purchaser !��';
meeiva notice af such aueptance on or beforo September 73,1992.this dceument shall bemme a conVact between Seller R� ;
,�� � and Purchuer, A coQ;�af�his document may be ezecuted by each party,separately,and when each puay has executed a copy �
thueof,sucfi eopiu taken together sha!!be dcemed to be a futl a�complete contract betwcen the partiex
� �Q.t,c.Q �-tn.�. R-�l�-`�Z � :
Piikin County Open Space and Trails Baard of Trvstces, Date
Alice Devi�,Cha'umnn •
� [LO BE COMPCkTED BY SFLLfR AND LISIING COtv1P'ANYJ � �
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� 22, AC!RpTANCElCOMMicSiOY. Seller accepts the above pmposal this�day of September.1992. Se!!rt
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� - • � #3513?B 121U2/92 15:32 Fec $.DO BK 696 FG 139 �
`! ' Silvia Davis� Pitkin Cnty C1erF:, Doc �.d0 �'
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'_. ADDENDU�f TO VACA�T LA\D/FAR�t AND RA\CH +
� CO\TRACT TO I3UY AND SELL REAL ESTATE
. � Dated: September 10, 1992 _;..'-'
By: Pitkio County, Purchaser �,;.�_���
. and Lyle Reedeq et at,SeUer -`
i �S.;s�..�
� ADDENDUM 1. NON-FORFiGN PF.RSON TRANSFF.ROR. Seller rcprexnt�and wacrants tha[he is not subjeM b
� � �3 withholdings as defined under Internal Revenue Code SecUOn 897(Foreign Person Transferor). Seller agrees to execule en �
- * � af6davit at ciosing s[ating thet he is not a Fomign Person Transteror.
. ADDENDUM 1 TF.I.F.FAX SIGNFD C.OPIES. Parties agree that tele[axed,signed copies oF both the oFfa and ��-���
� � � aceeptance and other conUacmal agreements pu�suant�o the Connact are deemed eFfective. �' .
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� � ��,��.� ADDENDUM 3. jr�RNF.ST MONF.Y iNTF.RF.ST. All earnest money shall be piaced in an in[erat bearing accoun[
. '`t'� wilh interest eceruing to�he benefi[of lhe Purchaser.
� ADDENDUM 4. BINIIING ON C . _cOR . .T . This Conhact sball be binding on and inurc ro the benefit of
the heirs,ezecumrs,legal represrntative,successors end assigns of the parties.
4
�..-i� ADDENDUM 5. SOCC APPROVAL. 7'his Contract is exprcssly wntingent upon the official approval by the Board
''�.� of County Commissioners in two scheduled regulaz meetings(]st Reading and Public HearingJ2nd Reuding)on dntes
� .. � � �-�� � between the execution of Ihe ContraU by the Open Space and Trails Board and Ihe Seller end the Closing Dale.
�
.:�•� ADDENDUM 6. 1•AND C .APPROVA . ,purchaser shall be solely responsible for processing and obteining any G
_ and all apptopriate fand use approvals,including ezemption from subdivision,pursuant to the purchase et no cost W the
.,,,:._x`�- �;i Seller. :
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- . :� ADDENDUM 7. �OTiDITTONS OF TiTLF.. If purchaser approves of condilion of tiUe,or any objection made as f - .
aaed or subsequently waived by Purchesa,then upon elos'mg,tide to the real properry subject only to the lien for current
taces,and approved or waived exceptions such tiUe policy shall pro[cc[Purchaser from any claim azising from eny
~` ����''� meehanic s liens asurted against the property tor work which occurred prior in dosing(exciuding work perfonned al Ihe
. . ��' direcGon of the Purchaser),shall provide Futl survey protection,and shaA delele fhe sWndard ezceptions Nl tivough#6 on %�.-:'�
� ,.�� Schedule"B"of ihe standazd title insurance commiUnen�s.
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ADDENDIIM S. C[�RViYAI OF RFPRFCFNTATIONS WARRANT�RS AND COVF.NAIVTS. All
- 1� representations and wazran4es made by Seller herein,includi�g indemnificatioM agreements and righls of both Seller and �
�s.�i Puccheset shell sucvive at closing a�not mecge at eMsing.
� Sellec agrees to indemify,save a�hold harmless tlie Purchaser of and from any e3aim,demand,suit,action,
'�� * proceeding by owners of contingous properties based upon.or relaled to a cleim regazding any easement ova/under the �� '
g.t,.�k
� { subject pmpe:ty and Crom any mattec included in,azising fzom oc related to]ega(action enlitled Z+xker.et al v.Reedec.et al, i,
�� Case No.90 CV 213,Pilkin County,Colorado. Sel(er believes thet Ihe easement raerved in Seller stated in Adde�um 15,
�� -"� below,will fullfill the requested demands of tlm 3itigation,whether a negotiated oi wur[settlement occ�us. .
.. �.� � Setler warrants and represents that,as of the date of closing,there will be no delim�uent bilk for work,labor or �.
� .��`� materiats donq paformed or fucnished that would give rise tn a mechanic's lien against the property.
� ADAEND[JM 9. ACCF.SC TO LOT 20 "A" BUiLDiNG STTF. & TRAII, RRIDGE. It is understood by both �
. . 4�- parties that access lo theaemainder of Lot 20 (designated Lot 20"A") will be by way af an ea[ension of South Second - •
��� Strce4 located within the limits of[he City of Aspea ff alternaGve access is availeble Ihrough tbe Little Cloud �`�
Subdivision,the SeUer,at his optioo,may make uae af that altemative in lieu of the Secnnd Street access. k � -_
� In any case,i[is understood by the parties lha[tcail ccossing(s)of a driveway accessiag I.ot 20 may be made by �'j �
means oE a bridge at the discretion of the buyer,on the unilerstanding that any such bridge will confoim to applicable y�
stendards,requirements ond regulations and will aUow Cor rwsonable ingress and egress from the Lot 20 building sitc. ��, '�
� Construction of a trail bridge shall not commence prior tn the issuance of a CertiFiwte of Occupancy for[he house to be 5 ��;
rnnstructed on Lot 20"A"withou[the written consent of the ownet of Lot 20"A".
��
2� My trail crossing of the driveway,on grade, shall be pemianrn[ly posted and maintained by Purchaser with eithu � �
� "SWp"or"Yield"signs untd a bridge has bce�consWaed or driveway accas has been changed to Littte Cloud Subdivision �� -
� road. �
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`i . � #351378 12/p2/92 15:32 Rec 5.00 HY, 696 PG 140 �
. ' Silvia Davis, Pitkin Cnty Clerk, Doc b.OV E=
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. ADDENDUM 10. RYVIRONVIF.NTAL HA7.ARDS. 'fhe 8uyer undcrstand that any undcrground s�orage tanks or
. �� � othcr hazardous or potentially huardous ma�crials will be rcmoved by the Sellcr and solcly at the Sclla cxpensc prior to thc
. j dale of elosing. Thc pmperty to be conveyed will be ccrtificd to be tree of any and all environmrntal hazazd,induding �`�""`�r
_ � ° aonlaminated soils,underground sroragc tank(s),hazardous or lozic waste,or othcr svuctucc of substanccs subjcct lo �'I`'���
� q ngulation or rcmcdiation by fcdcral statc or local govemments at thc time of closing. Should such substanccs bc prescat �
on the subject property,�his rnntract will bc void at the diurction of Ihe purehaser. �'r v��'
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- � � � Nothing herewilh shall preelude the Seller from secking damages and costs from edjoining private property ��
� owncrs for removing the undcrground tanks a�mitigating hazudous macerials. �`- �
. "`� . . '..}.�.,-..
•���t, � ADDENDU�i 11. $URVEY PLAT. iDENTIFYING PROPERTY GORNFRS. 7'hc Seller will survey lhe ���'- �
property and provide a surveyod plat suitable[or rceording and for property identiFication purposa pursuant tn subdivision '
- - - � or ezemption hom subdivision Ihirry days or more prior tn date of closing. Said survey will be providcd a[the Setiv s wle 1 �
� expense. The cernerc of the subject properry shall be flagged with stakes and white ribbon according to the findings of said :
� '.,y survey and will be available for inspection by�he Buyer thirty days or more prior to the closing dnte.. 1'he Buyer hereby ;
`S approves 1he removal of standard exceptions I-4 of the Titfe Commitment for the subject properry punuant to this
fl paragraph. ' �.
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� � . �.�'F ADDENDUM 12. DF.VF.i.OPMF.N'1' RiGHTS RF.TAiNF.D BY SF.i.1.F.R. In accordance wiih the understanding
. �.'� ezisting hetween the pazties hom the commencemmt of negodations,that Lot 20"A"(1041 County approved building site ;
being retained by Seller),shown on Exhibit"A"and consisting of approximately 39,261.squaze feet shall retain the ��-�
.;�� development rights,including Alloweble Floor Area,associated with Ihe original Lot 20 parcel of land. 1'he BOCC shatl ?�"��
�� epprove and acknowledge this right in xziting or by acknowkdgment of lhis righl an an approved Subdivision Plat prior lo �
-� �° closing.
��-M<=�-� -�F .
�
� , ADDENDUM 13. F.ACF FNT RBSF.RVF.D. Selkr shall reserve the following easements across Lot 20"B"from ' ���
� _ Second Street to Lot 20"A"building site: i��'��
�- iY�-:� a). Perpetual underground utilitiu eazement for water,sewer,elecnic,natural gaz,telephone
and cable TV. ����"..:
� .- � b). Perpetual driveway easement for ingreu and egress until such 4me as an altemative access
- ' , is obtained[hru the Little Cloud Subdivision,then the driveway will be limi[ed to emergency and
construction vehicles at which time the"Stop"or"Yield"signs will be swilched from the trail to the - �
driveway.
�.���_� c). Ezcavation easement in order for driveway m be constiucted at engiacered grada .
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"_ ADDENDUM 14. PRF.SF,RVATiON OF RiGNT TO ANNF.X. The PurchBSer shall be requued to eo-opetate,
� c,4' without eost,in any future ennexation appliceuon W Ihe City of Aspen that may be submitted by Owner of Lo[20"A"in
_ �x�'.� order that Lot 20"A"may qualify for annezation unda the minimum common boundazy requiremmts. Lot 20"A"will not .'
':'=�;,'-.'S. acquire any additionel benefi�s beyond those which Lo[20"A"would be rn[i[led to if the Purchaza did not pazticipate in the
_ annexation.
,�
� . ADDENDUM 15. F.ASF.MENT RF.SERVF.D IN R••.R.Seller to retain/an access and utilities easements across �
� .�i;:� Lot?A"B"for the futurc beneFt of Houses#3 a�#4 of LiUle Cloud Subdivision. 1'he easemenu shall be the same(i.e., �
- located upon the same land)as[he essements recorded in Baok 508 at Page 703 and 707 which Houses#1 and H2 enjoy.
This Contract is oontingent upon both Seller and Purchasa approving the easement drak which implements this provision. �
� '.'�d; ADDENDUM 16.CREATION OF I.OT 20" "TO CORRF.CT SURV.V .RROR. The area designated as Lot . �
� ' 7A"C"on Ezhibit"A"and consisting of appmzimately 2,171.square feet was created as pazt of the negoGations Ieading w
this rnntrect W permi[the adjoining three property ownect W pucchase the property in order ro caaect a sucvey eeror. Sellu ���.
,�S has been unabk to rnmplete negotiations for sak to the adjoining praperly owners whereby a simultaneous closing can � ��.:"
. xcur. However,Seller agrees W diGgently attempt to complete a sale of Lot 20"C"W the private adjoining homeowners � J�;.��
whereby a simultanmus closing can occur wilh the closing oF fhis con[ract ���5���
� . � - :.i,�:.
y The parties herelo agree to the creation of I.ot 20"C",subject ro land use approvals,without lhe tract being w �:��
'�,:ri�; entided to any building righu,other than those stated in Addendum paragraph 12,abova Seller shall retain access r�'`��
- easement over subject properry to reach Lot 20"C'until such�ime as said lo[has bem comveyed to private owners of
+�� adjoining houses. The fee simple ti�le shall be retained by the Scller[or sale[o adjacent property owners;or,wnveyaz�ce �
W a non-profi[entity.
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r '��,'�.'- Purehaser acknowledga that the Selkr has ofEered w include Lot 20"C"as pazt of�his sale to Open Space for the
';� additionat sum of $SO,OOO.OD. ;:'�;
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