HomeMy WebLinkAboutbocc.con.111.2013 w�rrsuvtu rsr _ .� . - ..
ORDINANCE ��NTqACT# - �0�3
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j �P�� I SOthCbyS Aspe� Snowmass Sotheby's Intemational Realty
4 Snowmau ............... „ Sally Shiekman-Miller
5 Ph: 970-925-6060 Fax: 970-920-9993
6 he OM��ed portlons of[his form, except EU/erentla[ed addlNons, have been appmved by[�e Colora0o 0.ea1 Esca[e
� ommisslon. (C051-9421 fMantla[arv 1-13)
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9
io TNIS FORM HAS IMPORTANT LEGAL CONSE�UENCES AND THE PARTIES SHOULD CONSULT LEGAL
iZ AND TAX OR OTHER COUNSEL BEFORE SIGNING. .
13
i4 CONTRACT TO BUY AND SELL REAL E5TATE
ts (PESIOENTIAL)
16
1�
ie Date: 5/16/2073
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20
�i AGREEMEN7
zi
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ia 1. AGREEMENT.Buyer, identified in§2.1,agrees to buy,and Seilar,ident�ed In§2.3,agrees to sell,fhe
ZS Property described below on the terms and condltions set forth in this canlrect(Contract).
26
77
ZB 2. PART7ES AND PROPERTY.
29
30 2.1. Buyer.Buyer, Board of County Commluioners ot P/tkln County,wlll teke tille ro the
3 t property described below as❑ Jolnt Tenants ❑Tenanh In Common �Other
32
33
3a 22,psatgnabllity end Inurement.This ConVaa�Shall ❑Shell Not be assigneble by Buyer �
36 '�+��aut Seller's prlor wrltten consent. Except as so res[ricled,thls Contract shall inure to the benefit of and be
3� binding upon the heirs,personal representatives,successors and assigns of the partles.
38 2.3.Seller.Sei�er, Dav/d R. Ste7nhuret,is the current owrier of the Praperty described below.
39 2.4, Pro The Pro e �s the followi� le al described reai estate in the Coun of
ao PertY• P hY� 9 9 N h'
ai Pltkln ,Cobredo:
42 SubdJvisfon:P?K!N PARK PLACE Unit:415E OESC:(G5)
an known as No.415 Padtfc Avenue 4i5E/GSAspen CO 8T6i1,
45 together wtth ihe interesis, easements, righis, benefils,improvements and attached tixtures appurtenant thereto,
46 and all interest ot Selier in vacated streets and alle s ed acent thereto,ex� t as herein excluded Pro e
4� Y 1 P ( P �h')�
ae 2.5.Inetuslons. The Purchase Prke Includes the follmving(tems(Inclusions):
49 2.5.1. Flntures.It attached to the Property on the date of this Coniract,the following items are
so �nGUded unless exduded under Fxcluslons 2.6 :li hti heetin
s i (4 ) 9 �J, g�piumWng,ventlleting and alr conditioning
sz fixlures,N antennas,inside teiephone,nehvork and coaxial(cab�e)wiring and connec[ing block�acks,plaNS,
53 mirrors,floor covedngs, intercom systems,bulit—in kitchen appliances,sprinkler systems and controls,built—in
sa vacuum s stems includin accessories
ss Y (� 9 ),gerage doar openers including none remote controls.
s6 Other Fixtures:sBB pElsonal propeRy
SBIf eny flxNres are attached to the Pmperty efler the date of this Contract,such additional Poctures are also included
Sq in the Purchase Price.
eo 2.5.2. Personal Property. If on the Property whether atteched or not on the date of this Contract,
61 the foibwing items are included unless excluded under Ezclusians(§2.6):storm windows,stortn doors,window
bZ arn1 orch shades,awnt s blinds, screens,window coverin s artain rods,d�
e3 P �9 . g , apery rods,fireplace inserts,
6a firepiace screens,fireplace grates,heaUng stoves,storage shed5�c,a,nd all keys. If checked,the following are
66 inciuded: ❑Water Sotteners �SmokdFire Detectora fa1 Carbon Monoxide Alarme ❑Seeurity
e� Systema ❑Satellite Systems(including satellite dishes).
be Other Paraonal Pro e
69 P �'
�p olshwasher,m/crowave, ranga,relrlgerator, washer, dryer, window coverings
�1 The Personai Property to be conveyed at Closing shall be conveyed by Seiler hee and clear of ali
�Z texes(except personal pmperry taxes for the year ot Closing),Ilens and encumbrances,except
73
�a for none .Conveyence shall be by bill of sale or other applica6le legal Instrument.
76 2.5.3. Perking and Storege FeclllUes.�Use Only�Ownership of Ihe following parking
�� one ass/gned parMng
7e facitities:sPece ;and�Use Only ❑Ownership
eo of the following storege fadlltles:
ai those appurtenant to the property
Bz 2.5.4. Weter RigM1ta,Weter and Sewer Taps.
B3
ea 2.5.4.1.Deetled Weter Righta.The foilowing legally described water rights:
CBSI•9-12. CON1'RACT TO BUY AND SELL REAL ESTATE- Residen[ial � Pege 1 of IS
Buyer(s)Ini6als Jp Seller(s)Initiats
°5 Ne
B6
e� Any water rights shall be conveyed by Na Deed Olher applicable legal
88 instrument. . �
q� ❑ 2.5.42.Well Rights. li any water well is to be transferted to Buyer, Seller egrees to
si supply required Informe6on about such well to Buyar. Buyer understands that It the well to be transferted Is a
9z Smeli Capadty Well or e Domestic Exempt Water Well used for ordinary household purposes, Buyer shall,prior
94 ro or at Cbsing,complete a Change in Ownerehip tortn tor the well.it an existing well has not been registeretl whh
es the Coloredo Division ol Water Resources In the Department of Natu21 Fesources(Division), Buyer shall complete
96 a regislrafion ot existing well form for iha well and pay the cost of registraUon. If no person will be provlding a
gB closing service in connection wllh the transactlon, Buyer shali flle the form with the DMSIOn within si�Ay days efter
99 Closing.The Well Permll#is Na
100 2.5.4.3. ❑Water Stock CeAiilcatea:
ioi
ioi n/a
1°3 2.5.4.4. WeterTep SewerTap
105
305
ioe Note:Buyer Is advised to obtaln,trom the provider,written eonfirmetion of the amount remeining to be
lo� paid,H any,Hme and other reetrlctlons far transfer end use oi the tep.
ioa
109
ilo 2.5.4.5.Other Rlghts:
�ii n/a
iiz
t13 2.6. Exelusions.Tha following items ere excluded(Excluslons):
iia
lls none
116
ilp 3. DATES AND DEADLINES.
119
120 __"_ _'"_'___'___'_—_'—_'_'._"—"_"_'_�_ ._...__. __"_""'_'__.
121 Item No. Reference Event Date or Oeadllne
iz3 � 44.3 Alternative Earnest Money DeadGne 3 bus days/ollowing
1 Z� MEC
izs itle end Asaoclation
lzb §7,1 qecordTitleDeadline 7de sfollowln MEC
iz�
ize §7.5 Exce tions Re uast Deadiine 7da s/ollowin MEC
iio §9.1 Record Title Ob�ection Deadline 21 deys lollowfng
131 MEC
i3z §82 Off-RecordTi�eDeadline 7da sfollowln MEC
13a 21 days/ollowing
13< §82 Ott•Pecord TiUe Objectbn Deadline MEC
135
136 28 days foBowing
i3� 48.3 Ttle Resolution Deadiine MEC
138
139 47.6 Associabon Documents Deedline 7da s/ollowln MEC
140 2f days follawing
iai 47.6 Association Documents Objection Deadline MEC
141
1a3 10 §8.5 Ri ht ot First Refusal Deadiine Na
14q atier's Pro e Disclosure
ias P m'
ias 11 §70.7 Seller's Pro Disclosure Deadline 7da s/oilow7n MEC
'4' Loan and Credif
iae
i<s 12 35.1 Loan A Iica6on Deadline N8
t5o �3 §5.2 LoanObectlonDeadline n/e
15t
isz 14 §5.3 Bu efs Credit Information Deadline r✓a
ls3 15 §5.3 Dlsa mval of Bu r's Credit Infortnetion Deadiine n/e
154
iss �6 §5.4 Ezistin loan Documents Deadline n/a
lss 17 §5.4 EzisUn Loan Documents Ob'ection Deadline Na
ls� 18 §5.4 LoanTransterA rovalDeadilne n/a
ise
ls9 preisef .
l60 21 da s Iollowln
isz 19 §62 AppraisalDeadline YMEC 9
163 28 days Iolfowfng
i5a 0 462 Appraisel Objection Deedline MEC
165
166 �rygy
16� � §B.1 CunentSurve Daedline n/e
I68
CBS 1-9-12. CONTRACf TO BIJY AND SELL.REAC,ESTA7'E- Ruidential Pege 2 of 15
Buyer(s)Initials �� Seller(s)Initials
L69 §g2 Cunent Surve Ob'ection �eadline n/a
l�o ns ection and Dua DIII ence
171
vz 21 days following
l�q 3 §102 Inspeclion Objection Deatlline MEC
i�s 2B days fol/owing
1�6 4 §70.3 Inspection Resolutlon Deatlllne MEC
177 21 days following
179 5 310.5 Property Insurance Objectlon Deadline MEC
ieo 6 §10.6 Due Oili ence Documents Dellve Deadline 7da s toflow/n MEC �
iei 28 days/oflowing
le� 7 §10.7 Due Diligence Documents Objection Deadllne MEC
189 8 §�0.8 CondKlonal Sale Deadllne
185
iae losin and Paseesslon
'B7 60 deys following
� iae §12.3 Closing Date ,
ley MEC
is� 0 5�7 Possesslon Date 60 days fo/fow/ng
�92 MEC
193 1 517 Possession Time eRer c/osln
194 2 §28 Acee tence Daadline Date 5/17/T013 Fr1da
195
196 §28 Acce tence Deadltne Time 9:00 .m.
i 9e BOCC Ord/nance Approva/Deadl(ne �days lo/low/ng
�99 MEC
I00
101
202
zo3 Note: Applleabllity ot Terms.
zoa Any box,blenk or 5ne in this Contract left blank or completed with the abWev(e6on°N/A",or the word°Deleted°
zos means such provisio�in Detes and Deadllnes(§3),including any deadline,is rrot eppl(cabie end ihe
20fi
zo� corresponding provision ot this CoMrecl to which reference is made is deleted.
2oe
209 The ebbreviation"MEC'(mutual ezecutlon of thls Contract)means the date upon which both parties heve signed
zio
xll this Conhect.
z�z
�13 Note:If FHA or VA loen boxes are cheeked In§4.5.3(Loan Limilations),the Appraisel Deadline(§3)does Not
214
zis appry to FHA Insu2d or VA guarentced Ioans.
2l6
717
i ie 4. PURCHASE PRICE AND TERMS.
zi9 4.1,prlce and Terms.The Purchase Price set forth below shell be payabie in U.S. Dollars by Buyer as
zzo follows:
zz1 .�— __ _...__.._...�._..__._�. .__..____......_ _.__...._ _.___._....... ._._._'--__..._.--.-.— — --
2zz Item No. Re(erence Item Amount Amount
2z3 � § 4.1 urchasePrice $372500.00 `� . �+.
zaa �
azs 2 § 4.3 ernest Mone '� 'a.. ( �� 575,000.00
yZj 3 3 4.6 New Loan `�;, ��� '�'�- '�;: �% $0.00
zze 4 § 4.6 ssumption Balence �';�- "= j0.00
229
z3a 5 § 4J eller or Privale Fnancin �'*,';- $D.00
z3t 6
232
233 7
23< 8 § 4.4 asha[Cbsin .-3z� 'x:�`7". 'i �� $357,500.00
z3s 9 OTAL �$372500.00 $372500.00
236
237
Z�y 4.2. Seller Coneesslon.Seller,et Closing,shall credit, es dlrected by Buyer,an amount ol$
z<o n/e to assist with any or all of the following:Buyer's closing costs,loan discount points,loen
Z41 odgination fees, prepaid items(including eny emounts tbel Seller agrees to pey 6ecause Buyer is not allowad to
Z°2 a due to FHA,CHFA,VA,etc. end an other fee,cost, char e,ez ense or ex erWlwre related to Bu er's New
ia3 P Y ), Y 9 P P Y
2aa Laan or ather allowable Seller concession(collectively, Selier Concession).Seller Concession is in addition to any
z4s yum Seller has agreed to pay or credit Buyer elsewhere in this Conlract. Seller Concession will be reduced to the
24� extent it exceeds the aggregate ot whet Is allowed by Buyer's lender as set torlh in the Closing Statement,
Zae Cbsing Disclosure or HUD-1,et Closing.
249 4.3. Earneat Money.The Eamest Money set torth In this secUon,in the fortn of
zso
xs i check or wire iransfer shall be payebie ro and held by Pkkln County T!tle,Aspen
CB51-9-12, COMRACC TO BUY AND SF1.L REAL ESTATE- Ruidendai Page 3 of 15
Buyeqs)Initials �P Seller(s)Ini6als
Z52 (Eamest Money Holder),in its tn�st account,on 6ehalf of both Selier and 8uyer.The Earnest Money deposit shali
Zsqbe tendered,by Buyer,wilh ihis Conhact unless the parties mutually agree fo an Altamative Eamast Money
zss Deadiine(§3)for its payment.The partles authorize de6very ol the Eames[Money depostl to the company
zsb conducling the Cbsing(Cbsing Compeny),tf any,at or betore Closing. In the event Eamest Money Holder has
zse agreed to heve interesl on Eemest Money deposlts transterted lo a fund established for the pu�pOSe of providing
tsv aftordable housing to Colorado residents, Seller and Buyer acknowledge and agree that arry interest accruing on
zeo the Eamast Money deposited with ihe Eamest Money Holder in this transaction shell be transferred to such(und.
Z6z 4.3.1. Altemative Eamest Money Deedline.The dearlline for delivering the Earnest
263 Monay,if other than at the time o�tender of this ContraM(s es set torth as ihe Altemative Eemeat Money
2es Deadline (§3).
zbb 4.3.2. Return ot Eemeat Money.If Buyer hes a Right to Tertninate and timely tertninates,
z6� 8uyer shell be entitled to the retum of Eamest Money as proWded in this Contrecl. It this CoMract Is terminated as
z6e set torth in§25 and,except as provided in§24,'rf the Earnest Money hes not aiready been retumed fo0owing
270 receipt of a Notice to Tertnlnate,Seller agrees to execute and retum to Buyer or Bioker working wlth Buyer,
z» written mutual Instruclions,i.e., Eemest Money Releese form,wflhin ihree days of Seller's receipt of such tortn.
Z�Z 4.4. Form ot Funds;Time of Payment;Funds Available.
273 4.4.7.Good Funds.All emounts able b the anles at Closln Includi an loan
z7a PaY Y P 9� �9 Y
ns pmceeds, Cash et Closing and Gosing wsts,shall be In funds thet compy with all appliceble Colorado laws,
z�6 including eleclronk transfer funds,cenlfled check,savings and loen teller's check and cashler's check(Good
277 Funds .
z�e 1
z�e 4.42.Available Funds.All tunds required to be paid at Gosing or as otherwlse agreed in
Zeo wridng belween the partles shall be llmely paid to allow dlsbursement by Closing Company at Closing OR SUCH
ZBZ PARTY SNALL BE IN DEFAULT. Buyer represents that Buyer,as of ihe date of this ConUact,�Does�Does
za3 Not have lunds that are immadiately verifiable end evailable In an emount not less than the amount slaled as
ies Cesh at Closing in 4 4.1.
zas 4.5. New Loen. (Omilted as Inapplica6le}
ze�
z89 4.8. Assumptlon. (Omided as inapplicable)
290
291 4.7. Seller or Pr�vate Finencing. (Omitted as inappllcable)
292
293
z94 TRANSACTION PROVISIONS
295
29fi
29]
Z98 5. FINANCING CONDITIONS AND OBLIGA710NS.(Omiqed es inepplicable)
299
300
3oi 5.3. Credlt IMOrmatlon and Buyer's New Senior Loan.(Omiried as Inepplicahie)
302
303
3a< 5.4. Existing Loen Revlew.(Omttted as inapplleable)
305
306
3a� fi. APPRAISAL PROVISIONS.
3oe 6.1.Lender Property Requlrements.If the lender imposes any requiremenLS or repelrs(Requirements)
309 to be made to lhe Pro
310 perry(e.g.,roof repeir,repainting),beyoM those metlers elready agreed to by Selle�in this
3 i i Contrac[,Seller has the Right to Terminate under§25.1,(notwithstanding§ 10 of this Contract),on or before three
31z deys following Sellers receipt of ihe Requiremenls, based on any unsatisfactory Requlrements,In Seiler's sole
;ja sub�ective discretion. Seller's Rlght to Tertninate In ihls§6.1 shall rwt apply if,on or before any tefminetlon by
3i5 Seller pursuant to this§6.1:(1)the partles enter Into a written agreemenl regarding the Requirements;or(2)the
3i6 Requ(rements have been completed;or(3)the sa�isfaclion ot the Requirements is welved in wnling by Buyer.
3 ia 6a. Appraieal Candltion.The applicable Appreisal prwision set forth 6elow shall epply to the
3l9 respective loan type set forth in§4.5.3,or it a cash Vensactlon,i.e. no Flnencing,§6.2.1 shall apply.
320 6.2.1. ConventionaUOther.Buyer has the sole optlon end election to terminate ihis Contract
jZZ 'rf Ihe Pmperty's veluatlon, detertnined by an appraiser engagedon 6ehalf W BuVer is less than
3z3 the Purchase Price.The appraisel shall be received by Buyer or Buyer's lender on or before Apprelsal Deadline
3�4 (§3). Buyer has the Right to Terminate under§25.1,on or betore Appralsal Objectlon Deadline(§3),if the
3zs P� e s valuaUOn Is less Nan the Purchase Price and Seller's recei t oi either a co of such a reisal or
3zb P rtY' P PY PP
3z� written notice from lender that confirms the Property's valuetion is less than the Purchase Price.This§6.2.1 is for
3Z9 the sole benefit of Buyer.
330 6.2.2. FHA. II is expressly agreed Ihat,notwithstflnding any othar provislons of this ConVact,
331 the Purcheser(Buyer)shali nat be obllgeted to complete tha purchase of the Property descrihed herein or to incur
33z any penatty by forlelture of Earnest Money deposits or otherwise unless lhe Purchaser(Buyerj has heen given In
jjyaccordence with HUDiFHA or VA requlrements a writlen stetement Issued by the Federal Housing Commissioner,
335 Depertrnent of Veterans AHalrs, or e Direct Endorsement lender,setting lorth the appraised value of the Property of
CBSIA-12. CONTRACCTO SUY AND SELL REAL ESTA1'E- Ruidcn6al Page 4 of 15
JP
Huyer(s)Inirials Seller(s)3nitials
336 not less than$ .The Purchasar(Buyer)shall heve the privilage and option af proceedfng with the
338 consummatlon of the Contract without regard to the arnount ot the appratsed valuation.The appraised valuation Is
339 erdved at to de�ermine�he maximum morigage lhe Depatlmem of Housing end Urban Development wlll Insure.
3°o HUD does not werranl Ihe velue nor the condition at the Property.The Purchaser(Buyer)should satlsfy
iaz himselVherselt thet the price antl contlitlon ot the Property are accepteble.
343 62.3. VA. It is expressly agreed that,noRVithstanding any other provisions of this Contract,the
344 purchaser(Buyer)shail not Incur any penalry by fortelNre of Eemesl Money or oiherwise or he obligated to
346 �mplete ihe purchase ot the Property described herein,if the Contract Purchase Price or cost exceeds the
3a� reasonable value of the Property esteblished by Ihe Dapertrnent of Veterans Aftairs.The Purchaser(Buyer)shall,
34B however,have the privilege and option of proceedirg with the consummation of this Co�tract without regard to the
35o amount of the reasonable value estebllshed by the Uepartment of Veterans Aflalrs.
3s t 6.3. Cost ot Appraieai.Cost ot any appreisel to be obteined after the date M this ConVact shall be
3sz timely paid by�uyer ❑Seller.The cost ot the appreisal may Include any end all fees paid to the appraiser,
353
3sa app�aisal menagement company,lenders agent or all three.
355
35� 7• EVIDENCE OF TiTLE AND ASSOCUITION DOCUMENTS.
358 7.1. �Seller Selecte 71t1e Insurance Company If this box is checked, Seller shall seled the tltle
359 insurance company to tumish the ownafs Utle insurence poAcy at Seiler's expense.On or before Record Titie
36o Deadline 3 Seller shall fumish to Bu er a current commitrnent for owner's title insurance ollc Title
361 (§ )� Y P Y(
3ez Commitment),In en amount equal to the Purchase Price,or if this hox is checked�en Abstract ot title certified
363 �o a cunent date. Seller shall cause the title Insurance policy to be issued and delivered to Buyer as soon as
36a
36s precticable et or alter Closing.
3s6 7,2, ❑Buyer Selecta Tftle Insuranee Compeny. If this box is checked, Buyer shall select�he tille
368 insurance compeny to furnish the owner's fitie Insurance poiicy at Buyer's expense.On or before Record Tltle
76v Deedllne(§3), Buyer shall fumish to Seller,a curtent commitrnent tor owner's Utie insurance pollcy(T"dle,
37oCommitment),In an artwunt equal to the Purchase Price.
3�Z If nelther box In§7.1 or§72 is checked,§7.� epplies.
373 7.3. Owner's Entended Coverage(OEC).The Tille Commltment�Shall ❑Shell Not commit
37'+ to delete or insure over the stendard excepUOns which relate to:(1) peNes In possession,(2) unrecorded
376 easements,(3)survey matters,(4)unrecortled mechanlcs'Ilens, (5)gap period(effective date of commilment to
a» date deed is recorded),and (6)unpaid taxes,assessments and unredeemed Wu sales prior to the year ot Cbsing
379 (OEC).
3eo Nota:The 8tle Insurance compeny mey not agree to delete or insure over any or all ot the standerd exceptions.
3ai 7.3.1. Premlum for OEC.B the title insurance compazry agrees tp provide an endorsement for
38Z OEC,any additional premium expense to obtain an endorsement tor OEC shall be paid by❑Buyer�Seller
3gq ❑One-Helt by Buyer antl One-Halt by Selier ❑Other
3e5 7.4. Buyer's Rlght to Revlew Tllle Commltment end Title Documenta. Buyer has the right to
3e6 review the Title CommiVnent,Its provlsions and TiNe Documenis(defined in§7.5),and N not satisfaclory to Buyer,
3a7
3ae Buyer may exercise Buyer's rights pursuant to§8.1.
3e5 7.5. Copies of Exceptions.Unless the bax in§7.2 Is checked(Buyer Seleds Tille Insurance
390 Compafry)on or before Reeord Tttle Deadline(§3), Seller,et Sellefs expense,shall fumish to Buyer and
391
3yz Selling Agent and Buyer's aftomey,John Ely , (1)wpies of eny plats,
393 declaratlons,mvenants,conditlons and restriclfons burdening Ihe Property,and(2)H a Tide Commitment is
jgs requlred to be Nmished,and if this box is chacketl� Coples of eny Other pocumenta(or, if illegible,
396 summaries of such dxumenis)listed in the schedule of exceptions(Exceptions). Even if ihe box is no�checked,
397 Seller has the oCllgallon to fumish ihese documenis pursuant io this section H requested by Buyer any time on or
39e betare Exce llons R uest Deadllne 3 Thfs re wrement shell ertaln onl to documents as shown of record
399 P �9 �§ �� 4 P Y
noo in Ihe office of the cierk end recarder in the county where the Property is located.The Abstrect or TiNe
40� CommiVnent,Wgether wkh any copies or summarles ot such documents fumished pursuant to lhis section,
ao3 �a�stitule Ihe litle documents(collectively,7tle Documenls).
a oa 7.5.1. Exlsling Abstracls oi Tftle.Seller shall deliver to Buyer coples of any abstrects of
405 tltle covering all or any portion ot the Property(AGStrac[)in Seller'S possessian on or betore Reeord Title
qpj Oeadline(§3).
aoa 7.6. Homeownera' Assoclatlon Documenta.Homeowners'Association Documents(Association
�D9 Documents)consist of the foilowing:
qj° 7.6.1. All Homeowners'Associatlon declaretions,bylaws,operating agreements, rules and
, aiz reguletions, perty wall agreemenis;
4�3 7.6.2 Minutes of most recent annual owners'meetirg;
nis 7.6.3. Minutes of any directors'or managers'meetings during the six-month periotl
a i5 immediately preceding the dete of thls ContracL If none of the preceding minutes exist, lhen the most recent
al� minutes,if any(§§7.6.1,7.62 and 7.6.3,colleclively, Goveming Oocuments).
q�q 7.6.4. 7he most recent finenclel documents which consist ot: (1)annual and mosi recent
CBSl-9-12. CONIRACTTO BW AND SELL REAL ESTATE- Residcntiel Page 5 af IS
Buyer(s)Inirials Jp Selle�(s)Initials
azo balance sheet, (2)annual end rtwsl recent inmme and erzpendilures statement,(3)annuai Dudget,and(4)reserve
°zl sludy, it any(collectively, Flnflnclal Documents).
qz3 7.6.5. Common Interest Community Diselosure.THE PROPERTY IS LOCATED WITHIN
aia A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE OECLARATION FOR SUCH COMMUNRY.
azs 7�{E OWNER OF THE PROPERTY WILL BE RE�UIRED TO BE A MEMBER OF TNE OWNER'S ASSOCIAi70N
qZ� FOR THE COMMUNrtY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE
428 ASSOCIATION.THE UECLARA770N,BYLAWS,AND RULES AND REGULATIONS WILL�MPOSE FINANCIAL
aia �gLIGATIONS UPON THE OWNER OF THE PROPERTY,INCLUDING AN OBLIGA710N TO PAY
431 ASSESSMENTS OF THE ASSOCIA170N.IF THE OWNER DOES NOT PAY THESE ASSESSMENTS,THE
43z ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL R TO PAY THE DEBT.
43q THE DECLARATION,BYLAWS,AND RULES AND REGULA770NS OF THE COMMUN{TY MAY PHOHIBR THE
435 OWNER FROM MAKING CHANGES TO THE PROPER7Y WITHOUT AN ARCHRECTURAL REVIEW BY THE .
43s ASSOCIATION(OR A COMMITTEE OF THE ASSOCIATION)AND THE APPROVAL OF THE ASSOCIATiON.
437 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE
439 FlNANCIA�OBLJGATIONS OF MEMBERS OF THE ASSOCIATION.PURCHASERS SHOULD CAREFULLY
aao READ THE DECLARAIION FOR TF1E COMMUNITV AND THE BYLAWS AND RULES AND REGULA710NS OF
441 THE ASSOCIATION.
443 7.6.6.Aseocletlon Doeuments to Buyer.
aaa � 7.8.8.1. Seller ta Provlde Association Doeuments.Seller shall cause lhe Associatlon
aas Documents to be provided to Buyer,at SelleYS expense,on or belore Associatlon Documenta Deadllne(§3).
44fi
q4� � 7.6.6.2 Seller Authorizes Asaocietlon.Seller autFwrizes ihe Association to provide the
a48 Association Documents to Buyer, at Seller's expense.
°49 7.6.8.3.Seller'e Obi�getion. Seiler's abligetion to provide the Association Dacuments
aso
ysi shall be fuMlled upan Buyer's receipt of the Associatlon �ocuments,regardless of who provides such documents.
<52 Note: If neither boz in this§7.6.6 is checked,the provisions of§7.6.6.7 shell apply.
as3 7,6.7. Condtttonal on Buyer's Revlew.Buyer lifls the righl to review lhe Assoclatlon
ass Documents. Buyer has the Right to Tertnlnate under§25.1,on or before Associetion Dxuments ObJection
ase Deadllne(§3),based on any unsatisfectory provision in eny of ihe Assodation Document5,in Buyets sole
457 su6jective discrelion.Should Buyer recefve the Assoclatlon Documents after Asaoclation Documents Deadline
asa
ase (4 3j, Buyer,at Buyer's optlon,has tbe Right to Terminete under§25.1 hy Buyer's Notice lo Terminale received
Qbo by Seiler on or before ten days afier Buyer's receipt of the Assodatlon Documents. If Buyer does not receive the
ab l AssoGatfon Documents,or if Buyer's Nolice to Tartninete would othenvise be required to be recelved by Seller
462
a63 atler Closing Date(§3), Buyer's Notice to Terminate shall be recelved by Seller on or betore Cloeing(§ 12.3). If
464 Seller does not recelve Buyer's Notice to Terminate within such time, Buyer accepts the provlslons of the
ass qgy�iation DocumenLS as seUsfectory,and Buyer waives eny Plght to Terminate untler thls prwision,
ab6
yb� notwlthstending the provlslons ot§8.5. ,
468
469 8. RECORD TITLE AND OFF—RECORO TiTLE.
a�o
4�1 8.1. Reeord Tltle.Buyer has the right to review and abject to any ot the TNe Documents(Right to
Q�Z Ohjed, Resolutfon)as sel forth In§8.3. 6uyer's obJectlon mey be based on any unsatisfaclory form or corRenl of
473 Title Commitmenl,notwithstanding§13,or any other unsaUsfactory tltle mndRlon,In Buyer's sola su6jactive
974
n�s discretion.If 8uyer ob�ects to eny of the Ttle Documents,Buyer shall cause Seller b receive BuyePs Nodce to
<�6 Tertninete or Notice of Title ObJecUon on or bekre Reeord Title Ob�ection Deadline(§�3). if TUe Documenfs ere
477 not received by Buyer,on or before the Record Tille Deedline(§3),or ii there is an erMwsement to the Tide
978
y�9 Commitment thal adds a new Exception to tiUe,a copy ot Ihe new Exceplion to litle end the modified Title
' Qeo Commitment sheil be delivered to Buyer.Buyer shell cause Se�er lo receive 8uyer's Notice to Terminate or Notice
�81 0l lllle 06Jeclbn on or before ten days eker recelpt by Buyer of 1he tollowing documents:(1)any required Tttle
aez
ae3 Document not timely recelved by Buyer, (2)arry change to the Title Documents,or(3)erxlorsement to the Title
QB< Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection, pursuant to this§8.1
a85 (Record Tltie),eny title objecllon by Buyer and this Conlract shell be govemed by Ihe provlslons set torth In§B.3
9d6
ae� (Right to Object to Title, Resolutlon). It Seller does rwe recelve Buyer`s NoHCe to Terminate or Notirs ot Title
aea Objection by the appllcable de9dllne specifled above,Buyer accepts the condition of Utle es disclosed by the Tttle
989 Documents as satisfactory.
a90
aq i 8.2. Ott—Record TRIe.Seiler shall daliver to Buyer,on or before OH—Reeord Tltle Deadllne(§3),
<9z true wpies of all existing surveys in Seller's possession pertalning to the Properry and shall discbse to Buyer all
Q93 easements,Ilens(including,wfthout limitatlon,governmental improvements approved,6ut nol yet installed)or other
499
qg5 title matters(including,withoul limitation,rfghts ot Brst relusal and options)not shown by public records,ot which
496 Seller hes acNal knowledge(Otl-Record Metters). Buyer has the nght to inspect 1he Property to Investlgate II any
497 third party hes any right in the Properry not shown by publlc records (such as en unrecorded easement,
498
.{99 unrecorded lease,houndary line discrepency or water rlghts). Buyer's Notice to Terminate or Notice ol Title
soo 06Jection ot eny unsatisfectory condition(whather dlsciosed by Seller or revealed by such inspection,
soi notwilhstending§13), in Buyer's sole subJective discretion,shall be received by Seller on ot before Ott—Record
soz
sa3 TfUe Objectlon Deadline(§3). It Seller recelves Buyer's Notice to Terminate or Notice of Title 06jection �
CBSI-9d2. WNfRACCTOBUYANDSELLREALESTA7E- Residcntial Page6of IS
Buyer(s)Ini6als �p Seller(s)Initials
son pursuant to this§82(Off—Record Title Metters),any title objection by Buyer and this Contract Shall be govemed
sos by the provistons set forth in§8.3(Right to Object,Resolution). If Seller�does not receive Buyer's Notice to
Sp� Tertninate or Notica of Title ObJectlon,on or�etore Off—Reeord Title Ob�eetlon Deedllne(§3), Buyer accepts
soe title sub]ect to such rights, if any,of thirti parties ot which Buyer has actual knowledge. Unless dlsdosed In
soe ,�ng,Seller represents and werrants thet ihere ere no OH-Record Matters.
5 to
511 8.3. Rlght to Ob�ect to Title,Resolutlon.Buyer's right to object ro eny title matters shall include,but
s iz not be Iimited to those matlers set forth in§§8.1 (Record Title Metters),82(OIf—Record Tttle Metters)and 13
513 (Transfer of Title),in Buyer's sole sub�ecUve Gscretion (colleclively,Right to Object l0 7tle). It Buyer obJects to
sis any 8tle matler,on or before the applicable deadline,Buyer shail have the option to elther(1)object to the
sie condilion ot Utle,or(2)terminate thls Convact.
517 8.3.1. Title Resolution.if Selier receives Buyer's Notice of TNe ObJectlon,as pmvlded in§8.7
sie
s lq (Record Ttle)or§82(Off—Record Title),on or before the applicable deedllne,and if Buyer and Seller have not
szo agreed to a written settlemant thereof on or betore TNIe Resolutlon Ueadllne(§3),this Contraq shell terminete
szl on the explretion of Title Resolut�on Deadline(§3),unless Seller receives Buyer's�written withdrewal ot Buyer's
saz
523 NoBce of Title Objection, (i.e., Buyer's writlen notice lo waive obJec6on to such items and waives the right to
sz4 tertninale tor thet reason�, on or before explratlon of TIUe Resolutlon Deadline{§3).
s�s 8.3.2. Right to Terminete —7ltle ObJectlon.Buyer has lhe Rlght to Terminate vrxfer§25.1,on
526
SZ� or 6efore the epp6ca61e deedli�e, hased on any unsetisfactory title matter, in Buyer's sole�subjective discretion.
s�6 8.4. Special Tauing Dlstricls.SPECIAL TAXING DISTRICTS MAV BE SUBJECT TO GENERAL
529 OBLIGATION INDEBTEDNESS THAT IS PAID BV REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON
si� THE TAXABLE PROPERTY WRHIN SUCH DISTRICTS.PROPERTY OWNERS IN SUCH DISTRICTS MAY BE
53Z PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT
533 WHERE CIRCUMSTANCES ARISE RESULTINQ IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE
53s SUCH INDEBTEDNESS WITHOUT SUCH AN INCHEASE IN MILL LEVIES.BUYERS SHOULD INVESTiGATE
576 TF{E SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BV CONTACTING TNE COUNTY
s 3� TREASURER,BY REVIEWING THE CERTIFlCATE OF TAXES DUE FOR THE PROPERTY,AND BY
538
s79 OBTAINING FUR'THER INFORMATION FAOM THE BOARD OF COUNTY COMMISSIONERS,THE COUNTY
sao �RK AND RECORDER,OR THE COUNTY ASSESSOR.
sai guyer has tha Rlght to Terminete under§25.1,on or befire OH—Record Title Ob�eetion Deadline(§3),
592
sa� based on any unsetlsfaclory ettect of the Properry being loeeted withln a speclal terzing district,in Buyer's sole
54� su6Jective discretlon.
sas 8.5. RIgAt ot First Refusal or Contract Approval. fl there is a right of tlrst refusal on the Properry,or e
546
54� dght to approve thls Contrac6 Selier shell prompUy submit this Contract accor�ing to the terms and conditions of
sae such right.If fhe holder of the right of flrst refusal ezerclses such right or the holder of e right to epprove
549 disapproves this Contrad,thls Conhact shall terminate. II the right oi first retusal is waived expllcitly or explres,or
550
ss� the ConVact Is approved,lhis ConVact shall remein in Iull force and eHecl.Seller shall promptly rrotily Buyer in
ssx ����9 of the foregoirg.If explratlon or walver of ihe dgM of first refusal orConhect epproval has not occurred on or
553 �{ore RIgM of First Refusal Deadline(§3),this Contrect shall then terminate.
sso
sss 8.6. Title Advlsory.The TAIe Documents aHect the tiUe,ownership and use of ihe Property and should be
ss� reviewed ca2fully.Addillonelly,other maners not refiected in the Title Documenis mey attecl the title,ownership
ss� �d use ot the Pro mcludi
ssa PenY•� �9,Without limitation,boundary lines and encroachments,area,zoning,unrecorded
ss9 easements and claims ot eesements,leases and other unrecorded egreements,and various iaws and
, sba governmental regulatlons conceming land use,development and envlronmental matters.The surtace astate mey
sb� be ownetl aeparately hom the underlying mineral eetate,.end transter of the aurtace estate does not
562
563 necessarily Include trans}er of the minerel rlghts or water righls.Third pflrties mey hold interests in oll,
se< gas,other minerals,geothermel enargy or water on or under Ihe Property,whleh intereata mey give
565 �em rlghta fo enter and uea the Properry.Such matters may be exUUded from or not wvered by the title
566
56� insu�ence pollcy. Buye�is edvised to limaly consult legal counsel with respect to all such matters as thera are
see stricl tlme Ilmits provided in this Contract�e.g., Reeord Tltle OhJecllon Deadilne(§3)and Off—Record Tltle
56s Ob�e�tlon Deadline (§3)].
s�o
s�i
5�� 9. CURRENT SURVEY REVIEW.
5�3 g,t,Current Survey Condltlona.If the box in§9.1.1 or§9.7.2 is checked, Buyer,the issuer oi the Title
579
s�s Commitment or the provider of the opinlon of Utle if an A6stract and
s�6 shall receive a Curtent Survey, i.e.,Improvement Locatlon CerYrficeta, Improvement Survey Plat or other torm of
577 surve set toAh in 9.7.2 collective CurreN Surv
s�e Y 4 ( A5 ey),on or before Curtent Survey Deadline(§3).The Cunent
s�9 Survey shall ba ceNfled by the surveyor to all those who are to receive ihe Current Survey.
seo ❑ g,�.�,�mprovement Locatlon Certlficete. If the box In this§9.1.7 is checked, ❑Seller �8uyer
sez shell order or provide, and pay,on or betore Cbsing,the cost of an Improvement Locadon Certiflcate.
593 � 9.1.2.Other Survey. If the box In this§9.1.21s checked,e Current Survey,other Ihen an
sea Condom/nium or
ses
sse Improvement Location Certificate,shall be an ❑Improvement Survey Plet� Subdlv(slon P/a .The
se� parties aaree that pevmeni of the cosl of the Curtenl SurveV and obllaation to order or Drovide the Curtent Survev
CBSI-9-t2. CON7RACI'TO BUY AND SELL REAL ESTA1'H- Rcsidcntial Page 7 of 15
JP
Buyer(s)Initials Seller(s)ioitials
see �all be as follows:ahali accompany the tftle commitment and shall be pald/or by Seller
589
svo 9.2. Current Survey Ob]ectlon. Buyer has the Aght ro review and obJect to the Current Survey.Buyer has
59� the Rlght ro Tertninete under§25.1,on or before the Current Survey ObJeetlon Deadiine(§3),if the Cwrent
S9Z Survey is rat limely received by Buyer or based on any unsatisfactory maner with the Current Survey,
593
s9a rwN+ithstaMing§82 or§ 13.
595
se6 DISCLOSURE INSPECTION AND DUE�ILIGENCE
597
598
599 10. PROPERTY DISCLOSURE,INSPECTION,INDEMNtTY,INSURABILfP/,DUE DILIGENCE,BUVER
600
6o i DISCLOSURE AND SOURCE OF WATER.
bo= 10.1. Seller's Property Disclosure.On w before Seller's Property Dlecloaure Deadllne(§3),Seller
eo3 p9rees to deliver to Buyer ihe most cur2nt version of the appl'cable Colorado Real Estate Commisslon's Seller's
60�
eos Property Disclosure form completed by Seller to Seller's acNal knowledge,curcent as ot the date of Ihis ConVect.
eos 10.2. Inapecllon Objectlon.Unless otherwise proWded in this Contract, Buyer ecknowledges that Seller
� bo� Is conveying tba Property to Buyer In an'as is"condidon,'Where is"end lvith ell taolis". Seller shall disciose to
608
sos 8uyer,In wdting, eny iatent defects ecluely known by Seller.Buyer,acting in good fatth, has the right to have
6�a inspections(by one or more thlrcl partles, personally or both)ot the Property and Incluslons(inspection),at
btl Bu er's ex nsa. If 7 the h sicel condition of the Pro e
612 y pe O p Y p rty,including but not limited ro,the roof,wfllls,slructural
bi3 i�egrity of the Property,the elecirbal,plumbing, HVAC and other mechanical systems ot ihe Property, (2)the
614 physlcal condftlon ot the Inclusions, (3) servlce to the Property(Includirg utilitles and�communication services),
615 $tems end components ot the Pro e
616 � p rtY,e.g.heatln9 and plumbing, (4)any proposed ar existing transportalbn
e n project,road, sVeet or highway,or(5)any other activity, odor or rwise(whether on or oR the Property)and its
bla eHect or expected efled an the Property or Ils occupants is unsatisfactory,in Buyer's sole subiective dlscretloo,
619 8uyer shall,on�or before Inapectlon ObJectlon Deadlirre(§3):
620
az i 10.2.1. Notice to Terminate.Notity Seller In writing that this Contract is tertninated;or
622 10.2.2. Inspectlon Ob�ectlon.Deliver to Seiler a written description of any unsetistactory physical
623 condition that Buyer requires Seller to covect.
624
ezs Buyer has the Right to Terminete under§25.1,on or 6efore Inapectlon Ob�eetion Deedllne(§3)if the
62s property ar Inclusions are unsetlsfactory, In Buyer's sole subjective discretion.
62� 10.3. Inspectlon ResoluNon.If an Inspectlon 06jectlon is raceived by Seller,on ar betore Inspectlon
628
6z9 Ob�eetlon Deadl(ne(§3),end if Buyer and Seller have rot agreed in writv�g to a settlemenl thereof on or betore
s3o ��yp���on Resolutlon Deadline(§3),this Contract shall terminate on Inspectlon Resolutlon Deadline(§3)
631 unless Seller receives Buyer's written withdrewal of the Inspectbn Objectlon before such termination,i.e.,on or
631
633 betore expiration of Inspectlon Resolutlon Deadline(§3).
634 10.4. Damage, Liens and Indemnity. Buyer,except as otherwise provided in this Contract or other
63s W�nen agreemenl between the padles,(s responsible for payment for all InspecUons,tests,surveys,engineering
636
637 reports,or other reports perfortned at Buyer's request(Work)and shall pay for any damage that occurs to the
63e property and Inclusions as a result of such Work Buyer shall not permit cleims or liens ot any kind ageinst the
639 p�o for Work erlortned on the Pro e at Bu ers re uesl. Bu er a rees to indemn' rotect and hold
eao PenY P P rtY Y 9 Y 9 �Y�P
5ai Seller hartNess from and agalnst eny Iiabiliry,damage,cost or expense incurred by Seller and caused by any
6^Z such Work,claim,or lien.This indemnity includes Seller's right to recover all costs and expenses Inwrred by
6a3 Seller to defend a ainst an such liabili darna e cost or e nse,or to enforce this sectlon, includln Seller's
699 g Y ty• 9 • � 9
6as reasonable attorney lees, legal lees and expenses.The provisions o��hls section shall survive the termina�ion of
64s thls Co�tract.This§ 10.4 does not apply to items peAormed pursuant to an Inspedion Resolulion.
sae 10.5. Inaurabllity.Buyer has the right to review and ob�acl to lhe availabllNy;terms arnl condlNOns ot
ea9 and premium for properry insurence(PropeAy Insurance).Buyer has the Rlght to Terminate under§25.1,on or
eso ��re vroperty Insurence objectlon Deatlllne(§3), based on any unsatisfactory provision ot the Property
651 �nsurance,In Buyers sde subjectiva discretion.
652
c53 10.6. Due�Illgenca Doeuments. Selier agrees ta deliver copies of the followfng documenis and
ssa Informe0on pertalning to the Property(Due Dllgence Documenis)ro Buyer on or before Due Diligence
sss Ooeumenta Dellvery Deadline(§3):
656
5s� 10.8.1. All curreM leases,Including any amendments or o�her occupancy egreemen�s,paRalning
55e to lhe Property,if any(Leases).
fi59 y0.8.2. Olher documents and Infortnallon:
660
661 qny bullding perm/ts, a copy o!the Certlficete of Occupancy, hause p(ans, landscap7ng p/ans,
bbz any epprova/a hom govemment entlt/es,lnspection reports and radon fests, uNllfy hlstory lor
664 the lasf i2 monfhs, warrent/es and any and al!documents lhat re/ate to the Property and are/n
665 S21/Bf S pOSSe6S/Ofl.
666 �0.7. Due Dlligenee Doeuments Conditions. Buyer has the right to review and obiect to Due
667
ese Diligence Documents, in Buyer's sole subjeclive discretion, and has the right to object If Saller fails to deliver to
669 guyer all Due Diligence Documents.Buyer shall also hava lhe unllateral right to waive any condHion herein.
6�0 10.7.1. Due DIII ence Documents Ob ectlon.Bu er has the Ri ht to Tertninate under 25.1
6�1 9 I Y 9 5
CBSl-9-12. CON11tACf'I'0 BtJY AND SELL REAI.FSTA1'E- R�sidenuel Pnge 8 of 15
Buyer(s)Initials �� Seller(s)Ini6als
6�z on or before Due DIIlgenee Documenta Objection Deatlline(§3j, based on any unsetisfactory matter with the
673 Due Dlligence Documenls,in Buyer's sole su6Jective discretion. If all Due Dillgence Documen4s under§ 10.6 are
67q not received by Buyer on or before Due Dlllgence Documents Delivery Deatlllne(§3),the�Buyer has the
675
676 Right to Tertnlnate under§25.1,on ar before the earlier of ten days atter Due Dillgence Documents Ob�ectlon
6�� Deedline(§3)or Closing.
s�e 10.8. Canditlonel Upon Sele of Properry.This Cantract is condlLOnal upon the sale and closing of
679
eeo thal certain pmperty owned by Buyer and commonly known as Na
ssi Buyer,hes the Right to Tertninete under§25.1 by Buyer's Notice to Tertninate received by Seiler on or befare
bej Conditlonal Sele Deadline(§3)if such property is rrot sold end Gosed by such deadllne.This§10.8 is for the
6ea sole benefi[01 Buyer,. If Seller does nol recelve Buyers Notice to Terminate on or hefore Condltlonal Saie
5es peedline(§3), Buyer welves any Right to Tertninate under this provision.
be� 70•9• Source ol Potable Water(Residential Land and Reaidentlel Improvements Only).Buyer
� 68e �Does �oes Not acknowledge receipt of a copy of Se0er5 Praperty Disclosure or Source ol
be9 Water Addendum dlscbsl�g the source ot poteble water for the Property.Buyer ODOes �Does Not
690
69l acknowledge receipt of a copy of the curtent well partnlL�There is No We�l. Nota to Buyer.SOME WATER
�9Z PROVIDERS RELY,TO VARYING DEGREES,ON NONRENEWABLE GROUND WATER.VOU MAY WISH TO
69n CONTACT YOUR PROVIOER.(OR INVESi7GATE THE DESCRIBED SOURCE�TO DETERMINE THE LONG—
e9s TERM SUFFlCIENCY OF THE PROVIDER'S WATER SUPPLIES.
696 y0.10. Car6on Monoxlde Alarms.Note: If ihe improvements on Ihe Pmperty have a tuel—fired
697 heater or appiiance, a fireplece,or an attached gerege and include one or more rooms lawluuy used for sleeping
698
699 purposes(Badraom),the parues acknowiedge that Cobrado law requires thet Seller assure the Property hes an
�oo operelional rarbon monozide alarm installed within fikeen faet of the entrance to each Bedroom or in a locabon as
�oZ required 6y the appllcable bullding code.
�oa 10.11. Lead—Based Pelnl. Unless exempt,if Ihe fmprovemenfs on the Property Include one or
704 more residentlal dwellings for whlch a bullding pertnit was Issued prior to Januery 1, 1978,this ConUect shali be
�ob vad unless(1)a completed Leatl—Based Palnt Disclasure (Sales)fortn Is slgned by Seiler,ihe required real
�o� estate Gcensees and Buyer,antl(2)Seller receives the completed and fuliy executed form prior to the tlme when
�ae this Contrect is slgned by ell parties. Buyer acknowledges dmely receipt of a completed Lead—Based Paint
��o Disclosure(Sales)form signed by Seller and the real estate Iicensees.
�t� Y 0.12. Methamphetamine Diaclosure.If Seller Imows that melhempheWmine waz ever
71z manufectured,processed, cooked,dlsposed of,used or stored at the Praperty,Seller is required to disWose such
�13 fact. No discbsure is re ulred if!he Pro e was remediated in eccordance wilh state standards and other
�lq 9 P rtY
ns requiremeots are lulfilled pursuant to§25-18.5-102,C.R.S.Buyer further acknowledges that Buyer hes the �
�ib right to engage e certified hygienist ar indusMel hyglenlst to test whether the Properry has ever 6een used as a
71� metham etamine laboreto B ar hes the RI ht to Terminate under 25.1,u on Sellar's recel oi Bu er's
�is � �'• h' 9 $ P Dt Y
�is writlen Nodce to Terminete,notwithstendin9 any other provlslon of this Contract,based on Buyer's test results
�2o thet Indicate the PropeKy has been conlaminated with meihamphetamine, but has not been remediated to meet
n2 the slenderds established by rules o(the Stete 8oerd ot Health promulgated pursuarn to§25-18.5-102,C.R.S.
�z3 Buyer shall promptly give written notice to Selier of the results of the test.
�zn
i6 11. COLOqADO FORECLOSURE PROTEC710N ACT.The Cobrado Foreclosure Protedion Act(Acl)
�z� genera�y applies If:(7)the Property Is residernial, (2)Seller resldes in the Property as Selier's principal residence,
ne (3)8uyer's purpose in purchase of the Property Is not to use the Property as Buyer's perwnal residence,arW(4)
729 the Pro e is in foredosure or 8 er has notice that an loan secured b the Pro e is at least lhi de s
�3a P m'� �' Y Y P rtY� rtY Y
�3 i dellnquent or In defauft.tl the transaction is e Short Sale transaction and a Short Sale Addendum is pert ot this
�3Z Contracl,ihe Ac1 does rrot apply. Each perty is further advised to cansult an atlomey.
7]3
�34
��s CLOSING PROVISIONS
736
737
�3a 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING.
J39 12.1.Closing Documents entl Closing Informallon.Seper and Buyer shall cooperate with the Cbsing
7A0
�ai Comparry lo eneble the Closing Compeny to prapare end deliver doaments required for Cbsing to Buyer and
�<2 Seller end their designees. If Buyer Is obtaining a new loan to purchase the Property,Buyer acknowledges
743 Buyer's IeMer shall be requlred to provide the Closing Compen in e timel manner all re mred ban documents
�qq Y Y q �
�a5 �d finandal information conceming Buyer's new loan.Buyer end Seiler will fumish any addidonel informallon and
�<6 documents required by Closing Company that will be necessary to complete thls trensectlon. Buyer and Seller
747 shall sign and complete all customary or reasonably required documenls at or betora Closing.
748
749 12.2.Closing InaWCtlons.Colorado Real Estate Commission's Closing Instructions ❑Are �Ara Not
�so executed with this Contract. Upon mutusl execution,�Seller OBuyer shall deliver such Closing Inshuclions to
�SZ theClosingCompany.
�ss 12.3.Closing. Delivery of dead irom Seller to Buyer shell be at closing(Clostng).Closing shall be on the
CBSl-9-12. CON7TLACI'TO BUY AND SELL REAL ESTATE- RcsidcnGal Pagt 9 af 15
Buyer(s)Initials `T� Seller(s)Initials
�54 date specified as the Closing Date(§3)or by mutual agreement at an earlier date.The hour entl place of Closing
�sb shall be fls designated by Aitkln County Atle,Aspen
�s� 12.4. Dlaclosure ot Settlement Costs.Buyer end Seller acknowledge that Cosls,quality,and extent of
�Se service vary belween dlHerent senlement service providers(e.g.,ettorneys,lentlers,inspectois end Atle
� �ba companles�. .
761
�6Z 13. TRANSFER OF TI'TLE SubJect to tender of payment at Closing as required herein and compiiance by
75q Buyer with the other terms end provislons hereof, Seller shall ezecuta and deliver a goad and sufficient
�ss gene�a/We/renty deed to Buyer,al Ciosing,conveying the Property free and ciear of all taxes except
�6� ihe generel texas for the year of Closing. Except as provlded hereln,tltle shall be corneyed free end dear ot all
�se Iiens,Including any govemmental Ilens tor speclal improvemerhs instalied as of the dflte of Buyer's slgneture
��o hereon,whether assessed or not Title shall be conveyed subJect to:
��I 13.1. Those spec�c Exceptions described by referance to reco�ded documents as reflected In the
»z TNe Documents accepted by Buyer in accordance with Record Tkle(48.1),
� 773 73.2. Distrbutlon uWity easemenls(Including ca61e 11�,
js 13.3. Those spedficalry described rights of ihird parlies not shown by the public records of whlch
»6 guyer has ectual krrowledge and whlch ware accepted by Buyer In accordance with Ofl-Record Title
77�
��B (§ 8.2)and Current Survey Review(4 9),
7�9 13.4. Inclusion of the Property wfthin any special teuing distAcl, and
�ea 135. Olher no other
7e1
7B2
�e3 14. PAYMENT OF ENCUMBRANCES.Any encumbrence required lo be peid shall be peid e�or befo2
�ss Gasing trom the proceeds of this lransactian ar hom eny other saurce.
786
7e� 15. CLOSING COSTS,CLOSING FEE,ASSOCIATION FEES AND TAXES.
�es
�s9 15.7. Closing Costa. Buyer and Seiler shell pey,in Good Funds,thelr respective cbsing costs and
�90 a11 other items required to be pald et Closing,excep�as otherwise provlded hereln.
791 ' 752. Closin Services Fee. The tee tor real estata closing services shall 6e paid at Closing 6y
797
793 ❑ Buyer ❑Seller One-Helf by Buyer and One-Half by Seller
794 ❑��F18f
795
7g6 15.3. Status Lenar end Record Chenge Fees. Any fees incident to the issuence of Assocletion's
79� statement of assessments (Stetus Lener)shell be paid 6y�Buyer �Seller �One-HaM by Buyer and
798
�qq One-Heif by Seller. ONOrre. Any record cherge fee essessed by the Assoaation inciuding,but�ot limited to,
eoo ownerehip recortl transfer fees re erdless of neme or tiUe of such fee(Associatlon's Record Chenge Fee)shell be
eo i Paid by❑Buyer �Seller �One-Haii by Buyer and OnaHalf by Seller �None. See§ 15.5 for
soz
ea3 Privale Transter Fees.
eoa 15.4. Local Trensler Tex. �The Locel Trenater Tax of n/a °�of the Purchase Price
eo� shall be pald at Closing by �Buyer ❑Seller ❑OnaHelt by Buyer end OnHialt by Seller. �tione.
eo� 15.5. Private Transfer Fee. PAvata vansfer fees and oiher fees due to a iranster of the Property,
eoe Payable at Cbsing, such as community associaUon fees,devabper fees and foundation fees,sha0 be paid at
B09
s�0 Closing by❑Buyer OSeI ler DOne-Half hy Buyer and One-Helf by Seller�None.The Private 7renster fee,
e i i whethar one or more, Is for the following essociatbn(s):n/e in the total
eiz amount of °.6 of the Purchese Price or$n/e
B13
aia 15.6. Water Trensfer Feea. The Water Transter Fees can change.The tees,as of the date of thls
, ais Cpntract,do not exceed:
slb $n/a for❑Water StocW Cerlilicates❑Water Disfict
ei�
eie $n/a for❑Augmentetion Membership❑Small Domestic Water Compeny❑n/a
819 end must be pald at Closing by�Buyer ❑Sailer ❑One-Helf by Buyer and One-Helf by Seller ❑Nore.
ezo
au 157. Sales and Uea Tex. Any sales and use Wx that may accrue because of this transaction
ezz shall be peid when due by 0 8uyer 0 Seller �One-Hall by Buyer and OnrHalf by Seller�None.
823
ezn
azs 16. PRORA110NS.The folbwing shall be proraled to Clasing Oate(43),excapt es otherwise provided:
ez6 16.1. Taxee. Personal ro
eZ� p perty tazes,i1 any, speclal t�ing distrid assessments,if any,and general
. e ze real estate tazes for the year of Closing, based on ❑Tezes for the Celendar Year Immedlately Praceding
ez9 Cbsing �Most Recent MIII Lery and Most Recent Asaeased Veluffilon,adJusted by any appliceble
830
e3i. qualifyirg seniors property fex exemption,qualitying disabled veteran exemplion or❑Other
e3z
s33 16.2. Henffi. Renis besed an Renle Actuelly Reeelved Accrued.At Ciosing,Seiler shall
834
s3s trensfer or credit to Buyer the security deposits for all Leeses asslgned,or any remainder after lawful deductions,
CBS I-9-]2. CONTRACf SO BUY AND SEI.L REA[.ESTA'CE- Rrsidential Page!0 af 15
Buyer(s)Inivals �p SelteQs)Initials
e36 and nolity all tenenLS in writing of such transfer arxl ot ihe transferee's name arxf address.Seller shall assign lo
e3� Buyer all Leases in ettecl et Closing and Buyer shall assume Seiler's obligatlons under such Leasas.
838
ea9 16.3. Assoeletlon Asaeasments.Current regular Associatlon assessments and dues(Association
e�o qysessments)pald in advanca shall be credited to Seller at Closing.Cash reserves held out of ihe regular
BaZAssoclation Assessmenfs for deferred malntenance by the Association sFiall not be credited to Seller except as
eas mey be otherwise provided by lhe Goveming Documents. Buyer acknowiedges thet Buyer may be obligated to pay
B44 the Associetion,at Closing,en amount lor reserves or working capkal.My s ecial assessment assessed prior to
eq 6 Closing Oate(§3)by the Assoclatlon shall be the obllgatlon of❑BUyer �efler. Except however,any
eo� special assessment by 1he Assodetlon for improvertrents that have been installad as ol the date of Buyer's
sae signature hereon,whether assessed prior to or arier Closing, shell be the obligatlon ot Saller.Seller represents
eso �hat the Associetlon Assessments are currently payable el$ 368.00 per month and that there are no
esi unpald regularor spaclal assessments agalnst the Properry except the current re9uler assessments end no
852 ofhar.Such assessments are sub�ect to charge as provided In the Governing Documents. Setler agrees ro
esa rom tl r uesl the Assodation to deliver to Bu er before Cloafn Date §3 a current Status Letler.
esa P P Y e9 Y 9 O
ess 16.4. Other Prorettona.Water and sewer cherges,propane,Interesl on contlnuing loan,and no
ese other.
856 16.5. Flnal Settlement. Unlass otherwise a9reed in wri6ng,these prorations shall be flnel.
859
aeo ��. pO5SES510N.Possession of the Pmperty she�be delivefed to Buyer on Possesslon Date(§3)et
s5i �98��an Tlme(§3),subject to�he following Leases or tenancies:
efi3 RORB
864 I�S@�i0f,6(tBf CIOS�O fails to deliver
ess 9� passession as specified,Selier shall be sub�ect to evicdon and shall be
se6 additionally liable lo Buyer far payment ot$ 500.00 per day(or any part of e day nohvtthstandirg
sb� § 18.1)from Poseesslon Dele(§3)end Poseeaalon Time(§3)untll possession is delivered.
868
86q Buyer❑Does �Dces Not represent that Buyer will occupy tne Property as Buyer's principal resldence.
e�a
e�1 Nole: II the paAies agree to execute e Post-Closing Occupancy Agreement,tt�e document should appear in
a�z
g�g Attachments(§31).
e�a
s�s GENERAL PROVISIONS
876
877
879 Y8• DAY;COMPUTATION OF PERIOD OF DAYS, DEADLINE.
eeo 18.1. Day.As used In this Conhaet,the tertn"day'shall mean the entire day enNng at 11:59 p.m.,United
eai Slates Mountein Time(Standerd or Daylight Savings as appl'�cable).
sez 182.Com utetlon ot Perlod ot Da s Deadifne. In com utin a nod of da s wFren Ihe endin date
ae� P Y � P 9 PB � Y , 9
esa is not specilied,tha tirst day is exduded and the last day is Included,e.g.,threa days afler MEC. If any deadline
ses falis on a SaNrday,SurMay or tederal or Coloredo slate holiday(Hollday),such deadllne�Shall ❑Shall Not
ee� be extanded to the naxt day that is rwt a Saturday,Sunday or Holiday.Should neither box be checked,the
eee deadline shall not be e�Aended. '
889
eg� 19. CAUSES OF LOSS,INSURANCE;DAMAGE TO INCLUSIONS AND SERVICES;CONDEMNATION;
avx AND WALK—THROUGH.Excepl as otherwisa provided in this Conlrect,the Properry, Incluslons or both shall be
e9a delivered in the condttion exisling as of the date of Ihis Cont2ct,ordinary wear and tear excepted.
evs 19.1. Causes o} Loss,Inaurance.In the event the Property or Inclusions are damaged by fire,other
896 perils ar causes of loss prior to Closing in an srtaunt M rrot more than ten percent of lhe total Purchese Price �
B97 (Properry Demage), Seiter shall be obligated to repair the seme befare Closing Date(§3). Buyer has ihe Right to
ggg 7ertnlnate under§25.1,on or before Closing Date(§3),tl the Property Damage is rrot repaired be(ore Cloeing
soo oate(§3)or if Ihe damege exceeds sucn sum.Should Buyer elect to prry out tltis ConVact despite such
90 t p�Perty Damage,Buyer shall be entitled lo a credit at Closing for all insurence proceeds that ware received by
90Z Seller ut not the Agsociation, if an resuttin Trom such dema e to the Pro e
so3 ro Y) 9 9 p rty end Indusions,plus the amount
5oa o1 any deductible providad for in such insurance policy. Such credit will not exceed the Purchase Price. in Iha
sos B�ent Seller has not received such Insurance proceeds pnor to Closing,the parties may agree to extend the
906
yo� Ciosing Date(§3)or,at the optlon ol Buyer,Seller shall assign such proceeds at Closing,plus credit Buyer the
voe emount of eny deductible provided for In such insurence policy,but not to exceed the total Purchase Price.
909 �g,y, Demege,Incluslone entl Servleea.Should any InGusion or service(including utilities and
910 communicatbn services s stem,com nent or firzture ol the Pro e
vt� )� Y Pa p rty(coliectivey Service), e.g., heating or
5iz plumbing,fail or be dameged belween the date ot this Contraq aM Closing or possession,whichever shall be
913 earlier,then Seller sheil be Ileble for the repair or replacement of such Inclusion or Service with a unit of similar
9ys size,age and quaury,or an equivalent credit,but onty to the eztent that the meintenance or repWcement of such
9 t6 Inclusion or Service Is not ihe responsibility of the Association,if any, less any insurance proceeds received by
9�� Buyer covering such repeir or replacement. If the feited or demaged Inclusion or Service is not repaired or replaced
919 on or before ClOSing or possession,whichever shall be earlier,Buyer hes the Right to Tertninate under§25.1, on
CBSl-9-12. CONTRACf TO BIJY AND SEL.L RFAL ESTA1'E- Residentiel Page ll of IS
Jp
Buyet{s)Initials SelteKs)IniGaJs
� 9zo or before Clos(ng Data(§3),or,at the option of Buyer,Buyer will be enUtled to a aedit at Closirg for the repair or
9ZZrepiacement of such Inclusion or Service.Such credit shall not exceed the Purchase Price.it Buyer receives such
qzy a credil,Selier's right lor any clam agelnst the Associatlo�,if any,shall survive Closing.Seller and Buyer are
eza aware of the existence ot pra—owned home warranry progrems that may be purchased and may cover the repelr
9zs or rep�acement of such Inclusions.
yZ� 19.3. Contlemnatlon. In the event Seller recelves actual notice prlor to Gosing that a pending
sze condemnatlon actlon may result in a taldng ol ell or part of the Property or Incluslons, Seller shall promptly notity
9Z9 Buyer,in writing,of such condemnatlon actbn.Buyer hes the Right to Terminete under§25.1,on or before
qj� Closing Dale(§3),based on such contlemnetion eaion,in Buyer's sole subjective dlscretion.Should Buyer elect
9sz to wnsummate�ihis Contract despRe sucb diminution of value to the Property and Inclusions, Buyer shall be
931 entilled to e cred'rt at Closing for a!I condemnellon proceeds ewerded to Seller for the dlminution in ihe value of the
9i5 Property ar InClusions but such creAit shall not includa relocatlon benefit9 or expenses,or exceed the Purohese
936 Price. -
937 19.4. Walk—Through end Verifleatlon ot Contlitlon.Buyer,upon reasanable notice, has the right to
939 walk through the Property prior to Closing to verity thet the physlcal condilion of the Property and Inciusions
� 9ao complies wilh this Contract.
941
gay 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL.By slgning this Cantrac[, Buyer aM Seller
944 acknawledge that the respective broker hes advised that this Conhact has important Iegal consequences and has
9q 5 recommended lhe examinallon of title and consultation with legel end tex or other counsel belore signing this
946
gq7 CiOnlfaCl.
94B
949 21. TIME OF ESSENCE,DEFAULT AND REMEDIES.Time is of lhe essence hereol. It any note or check
ys� recelved ea Eamast Money hereunder or any other payment due hereuntler is no1 paid,honored ar terxfered when
vsz due,or if any obligation hereunder is not pertormed or waived as herein provided,lhe nontlefaulUng party has the
95-0 toliowirg remedies:
ess 21-1. If Buyer le in Default:
�sc ❑ 27.1,7, Speciflc Pertormance.Seller may elect to treat this Contract as canceled,In which
957 case all Eamest Money(whether or not paid by 8uyer)shall be peid to Seller and retained by Seller;and Seller
959 may recover such dameges es may be pmper,or Seller mey elecl to treat thls ConVect as being in full force and
96o effea and Seller has the right to speclflc performance or damages,or both.
961 21,1,2, Llquldeted Dameges,Appliceble.Thia§21.1.2 shall epply uniess the boz in 6
962
s63 2�•7•�•�$cheeked.All Earnest Money(whelher or not pald by Buyer)shall be paid b Seller,and retalned by
ssa Seller. Both perties shall thereafter be releesed from all obligations hereunder. It Is agreed that the Eamest Money
ess specified in§4.1 is II�UIDATED DAMAGES,end rrot e penalry,which amount Me pertles agree is falr and
9fiG
qb� reasonable and(ezcept as provided in§§ 10.4,22,23 and 24),said payment ot Eemest Money shall be
sse SELLER'S ON�Y REMEDV for Buyer's failure to parform the obilga8ons of this Contract. Seller expressly walves
970 Ihe remedles of specific perfortnance and addilionel damages.
g�1 2�•2. If Saller Is i�Default: Buyer may elect to freet this Contrect as canceletl,In which case all
9�z Eamesi Money received hereunder shall be reNmed and Buyer may recover such damages as mey be proper,or
9�3 Buyer may elect lo Veal�his Contract as being in full force end effect and Buyer has the right to specific
974
y�s per}ortnance or demagas,or both.
9]6
97� 22. LEGAL FEES,COST AND EXPENSES.Anything to the contrary herein notwithstanding,In lhe event of
q�y arry arbitretlon or Iitigation rela6ng fo this Contrad,prior to or atter Cloaing Dete(§3),Ihe arbiVator or court Shall
seo award to the preval�Ing parry all reasonable costs end expenses,including attomey fees, legal fees and expenses.
98l
9B2
qe3 23. MEDIATION. If a dispute arises relating to this Contract, prior to or atter Closing, and is rwt resolved, the
sea p��es shall flrst proceed in good taith to submit the matter to mediation. Mediation is e process in which the
985 parties meet vrith an impartiel perwn who helps to resolve the dispute informelly and confiaentially. Mediators
986
se� cannol impose bllMing declslons.The parties to the dispute must agree,in wriNng,bebre any settlement is
5ae binding.Tha parties will jointry eppoint an acceptable mediator and will shara equaily In the cost of such
9B9 mediation.The mediafron,unless otherwise agreed,shall tertnlnate In the event Ihe entire dispute is not resoWed
990
99l withln thirty days of the date written notice requestlng mediation is delivered by one perty to the other at the
' 993 party's last known address.This sectlon shall not alter any dete in thls Contraet,unless otherwise agreed.
994
995 24• EARNEST MONEY DISPUTE.Excepl es otherwise provided herein, Eamest Money Holder shell release
9s6 the Eamest Money as directed by written mutual Inshucllons,signed by bolh Buyer and Seller. In the event of any
99� controversy regardinglhe Eamest Money(notwilhstanding any termination of lhis Contraci), Eamest Money
gg9Holder shall not be requlred to take any ection.Eamest Money Holder,at its sole subjective disaetion, has
i000 several options:(1)awalt any proceeding, (2)interplead all parties and deposit Eamesl Money into a court of
loot �mpetent jurisdiction and shall recover murt cosls and reasonable attomey and legal fees,or(3)provide notice to
iooz
ioo� Buyer and Seller tt�at unless Eamest Money Holder receives a copy of the Summons and Complaint a Claim
CBS1-9-12. CONTRACTTOBIIYANDSEI.LREALESTATE- Residentlal Pagc12of15
Huycr(s)Initials �p Sellet(s)initiels
iooa (betwaen Buyer and Sellerj con[aining the case number ol the lawsuit(Lawsuit)wilhin one hundred twenry days of
ioos �ymest Money Holder's notice to the parties,Eamest Money Holder shall be authorized lo retum the Earnest
1006
ioo� Money to Buyer. In the event Eamest Money Holder does receive a copy of the Lawsult,and has not interplead ihe
iooa monies at the time of any Order, Eamest Money Holder shall dishurse the Eamest Money pursuant to the Order of
iooe �he Court.The partles reaffirtn the obligallon oF Medletion(§23).
ioio
iott
. loii p5. TEHMINATION.
�013 25.1.Right to Tertnlneta. It a party has a right to terminete,as provided in this Contrad(RigM to
1014
io is Terminate),the tertnlnatlon shall be ettectHe upon the other party's recelpt of a wrltten notice to ierminate(Notice
iol6 to Terminatej,provlded such written notice was recelved on or betore the epplicable deadline spedfled in this
lol� Contrect It the NoGce to Terminate is not received on or before the spacified deadllne,the parry with the Right to
ioie Terminale shell have ecce ted the
io�q p specHled matter,documenl or coMition es satisfactory ard waived the Rlght to
ioza Terminate under such proNsion.
loil 252 Eftect ot Terminetion. In the event thls Contract is tertninffied,all Eemest Money recelved
1033 hereunder shall be retumed and the pabes shall be relieved ot all obllgations hereunder,subject to§§ 10.4,22,23
ioza and 24.
iozs
1026
ioz� 26. ENi7RE AGREEMENT,MODIFICATION,SURVIVAL.This Contrect,its exhibits and speclfied addenda,
�oze constitute Ihe entire egreement behveen the parties relating to the subJect hereof,and eny prior agraemenfs
ioz5 Pertaining thereto,whether oral or written, have been merged arid integreted into ihis Contract.No subsequenl
1030
io3 i modificatton of any of tlie terms oi this Contrac[shall be valid,6lnding upon the parties,or enforceable unless
to7z made In writing and slgned by the partles.Any right or obligation in this Contract that,by its terms,exists or is
1033 intended to be peROrmed after termina6on or Cbsing shall suMve the seme.
1034
1035
1036 27, NOTICE,DELIVERY,AND CHOICE OF LAW.
103� 27,1,physlcel �elivery.All no�lces must be In wriling,except as provlded in§27.2.Any document,
1038
1039 Including e signed document or norice,from or on behalf of Seller,and delNered to Buyer shall be effective when
ioeo physicaliy received by Buyer,any signaWry on behaN of Buyer,any nemed Individual o}Buyer,any represernative
1a41 of guyer,or Brokerage Frm ot Broker working with Buyer(except for dellvery,a(ter Closing,of the notice
iaaz
1a�3 requesting mediation described fn§23)and excepl es provided in§27.2.My document, including a signed
�o44 documant or notice,fiom or on behelf of Buyer,and delivered to Seller shall be effective when physicaly received
1095 by Seller, any signatory on behalf of Seller,any nemed indiWdual of Seller,any representative of Seller,or
1046
loy� Brokerage Flrm af Broker working with Seller(except far delivery,after Closirg,of the notice requesting medlatlon
io4e �scribed in§23)and except as provided in§272.
1049 272.Eleetronle Defivery.As an altemetive to physical delivary,any daument,including eny slgned
ioso
iosi document or writlen notice,may be dellvered in electronic form anly by the folbwing indicated methods:
iosz ❑Facaimile �E-mall �Internet ❑No Electronle Dellvery. If the box"No Elechonlc Delivery'is
ios3 checked,this 2Z2 shall rrot be e Itcebie and 27.1 shall ovem notice end delive Doeuments with od mal
iasa 4 PP 4 9 �Y� 9
ioss signatures shell be provided upon request of eny party.
ioss 27,3.Cholce ot Law.This Contrad and all disputes ansing hereunder shall be govemed by antl construed
ios� �n axordance with 1he laws af the State of Cobrado that would be hcable to Colorado residents wFw s n a
iase �P �
1os5 cantracl in Cobredo for properry loceted in Cob2do.
1060
ta6i ze. NOTICE OF ACCEPTANCE,CDUNTERPARTS.This ro osal shail ex ire unless acce ted in wntin
ioez P P P P 9� bY
� �a63 Buyer and Seller,as evldenced by ihelr signatures below,and the ofle6ng party receives notice of such
iosa acceptance pursuant to§27 on or belore Aeeeptance Deadiine Date(§3)and Acceptance Deadline Time(§
toGS 3). If accepted,lhis document shall become e comrect between Seller and Buyer. A copy of this Contrect may be
1066
ia5� execuled by each parry,separately,and when each parry has executed a copy Ihareof, such copies teken
ioee together shall be daemed to be a full and complete contrad belween the parties.
1069
1070
ton 29. GOO�FAITH.Buyer and Seller ackrrowledge ihat each parry has an obligation to act In gootl faith including,
��072 bN not Ilmited to,exercising ihe dghLS and obligations set forth in the provisions of Flnancing Conditlons and
10�3 Obllgatlona(§5),Record Title end Ott—Record Title(§8),Cunent Survey Revlew(§9) and Property
ia�a
io�s Disclosure,Inapection,Indemnity, Insurahility, Due Dlligenee,Buyer Disclosure and Source ot Weter(§
io�c 10).
io»
io�a
io79 ADDITIONAL PROVISIONS AND A7TACHMENTS
ioao
1081
iaez 30. ADDITIONAL PHOVISIONS.(fhe fdlowing addlUonel provisions have not been epproved by the Colorado
ioe� Real Estate Commission.)
ioes Peragraph 6.1 above shalf be deleted/n its enti�ety.
1086
CBSI-9-12. CONTRACC TO BUY AND SELL REAL PSTAT'E- Residentiel Page 13 of IS
Buyer(s)Initials JP Sellv(s)[ni6als
iae� paragraph 6.2 a6ove shali apply and the/ollawJng sha!!be added:
1088
1089
iovo 6uyer s Appralsa/Contingency. The appralsa/cont/ngency sef lorth!n Paregraph 6.2 0/the
la9' Conhact ahall app/y as fol/ows. !t Buyer/s not eb/e[o su6stentiate on o�before the Appre/sal
lo9z Dead/Ine that the value of the ro e Is e ual to or more than the urchase rlce B
1093 P P rtY 9 p p . uyermay,
iosa upon wiltten not/ce to ihe Sel/er, term/nate thls Contrect whereupon Buyer shall be enttt/ed to a
ioes prompt return ot ell Eamest Money pe/d.
3096
1097
io9a Board ol County Commissloner App�oval.Notwtthstand(ng the sfgnature hereto by the County
1099 Menager, the obligatlon ot Buyer fo peAOrm hereunder Is express/y cond/t/oned upon Me adapGon
i i o° by Buyero!a P/tkln County Board o/County Commlasioners'ord/nence("BOCC Approval")
i iaz authorizing Buyer's purchase o/the Property pursuant to thls Conhact.In the event such
l l03 ordlnance la not du/yadopted by Buyer on or before forty-Nve(45)days follow/ng MEC or any
l l04 extension thereof as the artles me !n wrltln a ree,elfher Seller or Bu er ma u on written
uos P Y. 9, 9 Y Y, P
i ioe not/ce to the�ofher, terminate thls Contract. Buyer shall dellver the Earneat Money Depos)t to
i lo� Eamest Money Holderwlthln 3 business days o)BOCC Approval. In the event such ord/nanca is
i i aa time/ ado ted,8u er ahail formall rati this Contract b the s/ nature of tha Chalrman or
iioe Y P Y Y �Y Y 9
i�io deslgnee af the P/tk/n County Board ol County CommissJoners.
u1t 31. ATTACHMENTS.
i i i z 31.1.The followi ettachments ere a ert of Ihis Contract:
tit3 �9 P
i i i a Addendum A to Conirect to 8uy end Sell Rea(Estate
itts
i i�j 31.2-The folbwing disclosure forms are etlached but are not a part of this Contrad:
iiia None
1119
1120
i i u SIGNATURES
iizz /
iixa Jon PeQCOCq Date: 5I�lv��Ql3
i��s guyer.Boertlo/CountyComm/ssfonersofPltklnCOUnty
iizs B Jon Peacock.Coun Mana er
lin Y- �Y 9
i uB Address:
ttxe phona: Fax:
ii3o Electronic Address:
1131
1132
1133
1139
' i 13s [NOTE: ii thls oRer la beln eountered or re eeted,tlo not si n thls document.Refer to §32
1136 � � 9 �
1137
1178
1139 �et0:
llqo Seller:Davld R.Stelnhurst
uai Address: POBox1335AspenC08161
il4z phone: Fax:
1193
l l4q E�ectronlc Address:
1145
t146
11°� 32. COUNTER; REJEC710N.This oifer is O Counfered ❑Rejected.
llnd Initlels on1 ot e Bu er or Seller who countered or re ected oHer
�ia9 Y P nY( Y ) I
iiso
iisi Dav/d R. Ste/nhurst
iisz
i i sa END OF CONTRACT TO BUY AND SELL REAL ESTATE
iisa
iiss
1156
I is� 33, BROKER'S ACKNOWLEDGMENTS AN�COMPENSATION DISCLOSURE
i jsq (To be completed by Broker working with Buyer)
1160
i 162 Broker ❑ Does � Does Not acknowledge recetpt of Earnest Money deposit and,whila not a party ta the
1163 ConVact,agrees to cooperate upon request with arry mediatlon concluded under§23. Broker agrees thet if
Brokerege Flrtn is the Earnes[Money Hdder and,except as provlded in§24, if the Earnest Money has rwt
already been retumed following receipt ot a Notice to Terminate or other written nollce oF termination,Eamest
Money Holder shall release the Eamest Money as dlreded by lhe written mutuel instructlons. Such release of
Eames�Money shall be made wilhin frve days of Eamest Money Holder's receipt of the executed written mutual
. inslrudions,provided the Eamest Money check has cleared.
CBS 1-9-12. CONTRACC TO BLJY AND SE[1.RF 4L ES'CA7'E- ResidenUal Pege 14 of 15
Buyer(s)Initials �p Sellens)Initials
Broker is working with Buyer as a� Buyer's Agent � Seller's Agent ❑ Transactlon-Broker in this
trensaction. ❑Thls Is a Change of Status.
Brokerflge Flrtn's wmpensatlon or eommisslon is to be paitl by� Listing Brokelgge Flrm
❑Buyar�Other ,
Brokerege Flrm's Name: Aspen Snowmasa Sothebye/nternat/ona/Reafty
u���� r1,�t�-
Date: 5/16/2073
Broker's Name:Sally Shlekman-MIlfer
Address:415 Eest Hyman Avenue Aspen, CO 81611
Ph:970-925•6060 Fax: 970-9249993 Email: salty(§'sallyshJekmen.com
34. BROKER•S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
(fa be wmpleted by Broker woiking with Seller)
Broker �Does �Does Not acknowledge recelpt of Eemest Money deposk and,while not a parry to the
Contrad,agrees lo caoperete upon request with any medlalion concluded undar§23. Broker egrees ihat if
Brokerage Flrm is the Eamest Money Holder and,except as piovided In§24, II the Eernest Money has not
already been retumed folbwing recelpt ot a Notice to Terminete or other written notice of terminallon,Eamest
Money Holder shail release the Eamest Money as directed by�he wririen mutual insVUCtions.Such release of
Earnest Money shaii be made within five days of Eamesi Money Holder's receipt of the executed wrltlen mutual
instrudions,provided the Eames[Money check hes cleared.
Broker is working wlth the Seller es a�Seller's Agent ❑Buyer's Agent ❑Transactlon-Broker in this
Iransaction. ❑This is a Change of 8tatus.
Brokerage Frtn's compensation or commission Is to be paid by�Seller❑Buyer❑Other
Bmkerage FRn's Name: Aspen Snowmess Sotheby?s/nternetlona/Realty
Date:
eroker's Name:Ralpe/Basa
Address: 415 East Hyman Avenue Aspen, C081617
Ph: 970-925-6060 Fax:970-920-6890 Email: raifie.bass@sothebysrealty.com
CB51-9-12.CONTRACT TO BUY AND SELL REAL ESTA7E (RESIDENTIAL)
CTM eCon[racts - �7012 CTM SoFtv�are Corp.
CBSl-9-12. CONTRACP TO BW AND SEL.L REAL ESTATE- Rraidcn8al Pagc]5 of IS
Buyer(s)Initials Jp Seller(s)Initials
Aspcn I 5otheb S Aspen Snowmass Sotheby's International Realty
Snowmass .....,..,.,...Y,. Sally Sh(ekman-Miller
Ph: 970-925-6060 Fax: 970-920-9993
ADDENDUM^A^
TO CONTRACT TO BUY AND SELL REAL ESTATE(RESIDENTIAI)
RE:Contrect dated 05/16/20Y3 , betwaen Oavid R. Ste/nhul9t ,as Seller
Board of County Commisaioners o/Pftkfn County ,as Buyer,relating to�he sale and
purchase of the Properry known as:
415 Pacllic Avenue 415E/GS Aspen CO 81611.
This Addendum('Addendum'�is hereby made a pan of this Contract.In the event ot a conllid between ihis
Addendum and the Contrect,thls Addendum shail prevall.
1. § 21.BUYER. Buyer may designate or redesignate the form oi tenancy in the Closirg InstrucBons. Failure
ro deslgnate shall nat consUtute a default and authodzes the Closing Company ro utilize the selection In § 2.1,
or if none is seleded,to Indicate Tenants In Common in equal proportbns.
2. §2.5.INCLUSIONS.The deed to be delivered at Closirg shall be deemed to assign to Buyer all asslgnabie
warranties regerding the Properry or Incluslons.
3. § 4.3.EARNEST MONEY. Earnest Money Holder Is hereby authorized aM instruc[ed to place the Eamest
Money into an interesFbeadng account at a federelly insured bank or financiai InsUtufion. If the purchase and
sale contemplated by thls Contracl closes, then all interest shall be tor the beneSt of Buyer. If Buyer becomes
, entiUed to a return oi the Eamest Money under the provisions of this Contracl,lhen all inte251 shall bebng and
be paid lo Buyer concurrantly with the return of the Eamest Money. If SeUer becomas entitled to retaln the
Eamesl Money under the provisions of this Contrect, then all interest shall belong and be pald to Seller
cancurrently with the delivery of the Earnest Money.
4. §6.1.LENDER PROPERTY REOUIREMENTS. §6.1 of the Contract is herehy deleted.
5. § 7.6, HOMEOWNERS' ASSOCIATION DOCUMENTS If the box in § 7.6.62 is checked, Seller remeins
ohllgated to cause the Assodetion Documents to ba dellvered to Buyer on or before the Associadon
Documents Deadline.
6. §§ 8.1 end 6.3.1. RECORD TITLE AND TRLE RESOLUTION The phrase in the fiflh sentence of § 8.1
rea6ng,"on or before ten days after recelpt by BuyeP is hereby changed to read,°on w before the earlier oi tlie
Closing Date or the tenth dey alter receipt by Buyer. In addition, if under that fitth sentence of § 8.1 (as
modfied) Buyer timely delivers a Notice of Title ObJectlon, then, with resped to that Notke of Tille ObJection
and the operation of§8.3.1, the T1Ue ResoluUon Deadllne shall be the eerlier of the Closing Dale or ihe fifth day
elter Seller's receipt ot lhat Notice of Title ObJection.
� 7. §8.2 OFF-RECORD TITLE.The dxuments to be delivered by Seller to Buyer on or before the Off-Reco�d
Title Deadllne pursuant to § 8.2 shall Include coples of any Improvement loralion certlFlcate(s) in Sellar's
possessian pertaining to the Property. The last sentence of § 8.2 of the Contract (which statas, 'Unless
dlscbsed in wriGng,Seller represents and wertants that there are no ON-Record Malters.'�is hereby deleted.
8. § 8.5. RIGFIT OF FIRST REFUSAL OH CONTRACT APPROVAL. It the provislons of § 8.5 are applicable
6ecause ot the existence of a right of first refusel on the Property or a rlght ro approve this Contrec4 Buyer shall
have the rlght to extend Ihe Right ot First Refusai Deadline by flve (5) celendar days in order to obtain
explratlon or waiver of the right ol first refusal or ConVacl approval. To axercise such right, Buyer must deliver
written notice of such extension on or before the Right ot Firat ReTUSaI Deadllne, as initlalry established. If
Seller does not receive Buyers notice of eztension by such dete, the Rlght of Flrst Refusal Deedline shall
not be e�ctended. .
9. 10.6. OUE DILIGENCE — DOCUMENTS. The Due Diligence Documenis contemplated by § 10.62, li this
Addendum is attached to a Contract to Buy and Sell Reai Eslete on form C851-9-12, or by § 10.6.14 if this
Addendum is attached to a Contract to Buy end Sell Real Estale on form CBS2-9•12,CBS3•9-12 or CBS4-&12,
whfch are to be delivered by Seiler to Buyer on or before the oue Dlllgence Documants Dellvery Deadllne,
Addendum"A"ta Contract to Buy and Sell Real Eatate(CBS I-9-12,CB52-9-12,CBS3-9-12 ar CB549-12).This addendum hes not
been approved by the Coloredo Rcal Estate Commission(CREC).It was pnpazed and m2013 by Frescona,Joiner,Goodman and
Greenstein,P.C.(303-4943000)legal caunsel,for the exclusive uu of Aspen Snoa�mass Sotheby.Al(rights reserved. Page 1 of 4
Buyer(s)]nitials Jp Selle�(s)Initials
shail include copies oi any of the following, to the eMent the tolbwing ezist and are in Selier's possession:
utility bills relating to the Property for the last 12 months;any archltecWrel drawings,blueprints or other plans or
spaciflcatlons regarding eny improvements on or to the Property (including bul not Ilmtted to any as-built
wnswction plans therefor); any wananties, manuals,instrudfonal brochures or similar materials relaUng to the
Property or Intlusions, or their use, operetion or maintenance. In addition, 'rf a well exists on the Property, the
Due Ditlgence Documents lo be delivered by Seller shall inclutle a CREGepproved listirg Frtm's Well Checklist
completed by Seller,and curtent es of the date of the ConlracL it thls Contract Is atteched to a ConUad to Buy
and Sell Real Estate on tortn CBSt-&12, the Due Diligence Documents to be delivered by Seller shall also
Inciuda coples of the following,to the eMent the tollowing exisl and are in Sellefs possession: any property tax
statements relating to the Pmperty for the last 2 years; any ceAificale(s) ot occupancy or o�her govemmental
approval(s) regarding any improvements on or W tha Property; and any Inspection, engineertng, environmental
(Including but not limiied to radon or mold), soll,dralnage,percolation vr similar reports,studies or test results
relating la the Properly.
10.§ 10. PROPERTY DISCLOSURE. INSPECTON. INDEMNRY. INSURABILITY, DUE DILIGENCE. BUYER
DISCLOSURE AND SOURCE OF WATER. Buyer's right lo obJect enNor terminate under § 102 and/or §
10.7.7 shall not be Iimited to Buyer's satisfaction with the physieal cond'Aion of Ihe Property and Inclusions or
the Due Diligance Documenls, or any olher metters specified in clauses (1) through (5) of § 10.2; rather,
Buyer's right to obJecl andlor terminete under each of§§ 70.2 and '10.7.1 shall Include investigatlng, reviewing
end becoming setlsfied with ANY feature of or metter relatlng to the Property, the Incluslons or the Due
Dlligenca Documents and ANY other factor deemed by Buyer to be relevant to Buyels acquisiGon of the
Property and Inclusions, including, without Ilmltatlon, the actual lot size, location and square tootage oi
Improvements, building, zoning and eliowed use regulatlons, well (flow rate, capaciry, depth, recovery rate,
suitebllity tor Buyefs needs, exempt status such as hausehoid, tlomestic, etc., weter quelity, potebllity,
Iocation an Propetty,etc.�, septic(useful life of the system, capaclry and suHability for siza of house, pumpin9
needs, location on Properry, etc.), leach field(adequacy, �ocatlon on Property, percola6on, etc.), environmental
(such as presence on tha Property of rtaid, radon gas, esbestos, petroleum producLS, methamphelamine
end/or byproducts from the productlon ot methamphetamine— end the Buyer's dght to object and terminate
under this Contrect proWslon applies, inter alia, evan if inelhamphetamine contamina8o� has been remediated
to meet the stendards established by rules of Ihe State Board of Heatth promulgated pursuent to§25-78.5-102,
C.R.S.—or other hazardous substances or materlals)or soils matters,the presence or absence on or about ihe
Property of radient heating systems(e.g. Entra�II),electromagnetic flelds(proximity to power lines),termites or
other infestations, exterlor insulation and finish systems(e.g.artificial ffiuxo), polyburylene plumbing me�eriais,
roofing meteriels (e.g. Woodrvi sningles), proximity to a flood plain or hazardous waste site, the presence and
lora8on on the Property of carhon monoxtde alarms, Ihe availability and qualiry ot schools, the impact of air
hafl�, the dues, fees, taxes or slmdar charges that are or may be assessed or Ievied by any appllca6le
assoclation or taxing auriiorlty, crime statistics (such as "Megan's Law" which provides that Information
conceming the IocaUon of known sez ottenders be availeble from bcal law enforcemenl�, and other similar
matters. The phrase, "In Buyers sole subjective dis«etlon" is hereby amended in each place It exists in §§
102, 10.5 end 10.7 to instead read, 5n Buyer's sub�ective and absolute sole discreUon," and such amended
� standard (Buyer's subjective and absolute sole discretion) shall apply not only with respect to the physical
condftion of the Property and Inclusions or the Due Diligence Documenta, or olher matters speafied in clauses
(1) through (5) of§ 10.2, but also, as indirated above, xdth respeci to ANY teature ot or matter relatlng to the
Pmperty,ihe Incluslons or the Due Dillgence Documents and ANY other factor deemed by Buyer to be relevant
ta Buyer's acqulsltion of the Properry end Inclusions. Seller shall promptly disclose, as they ocwr, any
changes in ihe condition oi the Property or Induslons, or charges relating io the Pmperty, Inclusions, Due
Diligence Documents or other items listed or described ebove of which Seller has act�al knowledge.
11.§ 10. CARBON MONOXIDE ALARMS. tt the Property is in Aspen or Hsewhera wlthin Pilkin County, the
lollowing applies and supplements (i) the Note in § 10.10 of the Canhact, if this Atldendum is atlachetl to a
Contracl lo Buy and Sell Real Estete on form CBS1-9-12, or (i) ihe Note In § 10.11 of the ContracL if this
Addendum Is atteched to a Contrect lo Buy end Sell Real Estete on torm CBS2-�J-12, or (iii) ii the Contract
Includes Ihe CREGapproved Residentiel Addendum on form FA33-10.12,ihe Note In§2.6 of such Residen6al
Addendum: BoUi the Piticin County Code and Aspen Municlpal Code include provisions whlch, among other
things, impose a responsibiliry on the ovmer of a'Yesidential occupanc�+'to install and maintain required carbon
monoxide detectors in accordance with the requlrements of the appliceble Code, and the 2qui2ments of the
Pilkin Gounty Code or Aspen Munidpal Code, as appiicabie,shouid be considered in conjuncllon with the sfate
law descnbad In the above-referenced Note.
72.§ 17. POSSESS�ON. IF the Poasesalon Date is ather than the Closing Date, each party shall be
responstble to tnsure their respedive real and personal property Interests and to enter into a lease, or Posf
Addendum"A" to Convact to Buy and Sell Real Estate(CBS 1-9-12,CBS2-9-12,CB53-9-12 or CBS49-12).This addendum has not
been approved by the Colorado Real Fstafc Commission(CREC).It was prepazed and m2013 by Frascona,loiner,Goodman and
Greenstein,P.C.(303-494-30IX1)legal counsel,for the exclusive use of Aspen Snowmass Sotheby.All rights reserved. Page 2 of 4
Buyer(s)Initials `TP Seller(s)Inilials
Closing Occupancy Agreement,with the other party for the period between ihe Possession Dete and ClosNg
Date.
13.§ 18. DAY: COMPUTATION OF PERIOD OP DAYS. DEADLINE. Regardless of which boz in § 782 is
checked,or In the event neither such box is checked, Buyer and Seller agree as fillows: (e) tn the event any
date described herein tOr paymenl or peAormance of this Contrect fal6 on a Saturday. Sunday or lege�hollday
recognized by the Stete of Colorado or the United States of America, then, except as stated bebw in thls
paragraph, the tlme for wch payment or peAortnance shall be extended to the nexl business day; (b) no
eMension under this paragraph and/or§ �8.2 shell apply to a dffie or deadline specifled for the glving of rroGce;
(c) no extension under lhis paragraph antllor § 182 shall apply to the Poasession Dete, if the Closing occurs
on a date not ezlended 6y this paragreph end/or§ 18.2; (d) 'rf the Closing Date is exlended by lhis paragrepn
andlor § 182, the Posseaslon Date sheil be eMended by the same number oi days; and (e) nothing in this
peragraph or § 782 shall operate or be construed to operete to extend the Aceeptenee Deadline Date or
Acceptance Deadline Time specified in the Contracl. All reterences to Ume in the Contrflet mean Colorado
' "Stendard"or'Deylight Sevings"time as may be applica6le on the particular date.
14.§ Y9.CAUSES OF LOSS INSUHANCE•DAMAGE TO INCLUSIONS AND SERVICES•CONDEMNATION•
� AND WALK-THROUGH.Seller shall maintaln any yard end lendscapirg on the Property end deliver the same In
the conddion existing on the date of this Contract. If a dwelling or other sVucture exisls on the Property, Seller
shall deliver tlie Property in 'Mald Clean' condielon. "Meid Clean" is defined as: all cerpets professlonalty
cleened; all appiiances professbnally cleaned; all floors rtapped and/or vacuumed; all bathroom fiztures, tubs
end showers protessbnally deened; all windows professionally cleaned; and ail hash and persone� property
rertaved (ezcept Inclusions fo be iransferred wilh the Property). Buyers nghts under§ 19.4 Includa, wlthout
Iimitatbn,the righl to inspect ihe Property and Inclusions 10 insure SeOer's compflance with ihls provlslon.
15.§21.i1ME OF ESSENCE DEFAULT AND REMEDIES.. �f(a)performance is delayed by Buyer's lender,(b)
the required ban documeMS concerning lhls transactlon are not received by the Closing Date, or (c) the
passege of documents by courier Is not complete by ihe Closing Date, the applicable dates lor (check all that
apply} � Loen Conditions Deatlline, � Loen Transter Approval Deadline, � Appraisal ObJectlon Deadline, ❑
Closirg Date, and ❑ Possession Date shall autometically be e�ended once for a perbd of two (2) business
days.
i6.MEASUREMENT'S. . Neither Selier nor Broker working wilh Seller, Bmkerage Frm of Broker working with
Seiler, or other representative warrants the square foolage, area or size ot the land being purchased hereunder
or any Improvements ihereon. My statements, repres�tations, claims, drawings or estimates made or
provided by Seller ar Broker woAcing with Selier, Brokerege Frm of Broker workirg with Seller, or olher
represerriative referenGng the square footaga, a2a or size of the land or any improvements thereon,whether in
a merketing brochure, MLS ad or otherwise, ere not being and shall not be relied upon by Buyer, and Buyer
agrees end represenLS that if the square footage, size or aree of the land or any improvements thereon is a
matter of concem to Buyer, then Buyer shall satlsry ilsell in ihat regard through, end rely solely upon, ils own
investigatlons and measuremants made prior to expiration of lhe Inspection ObJectlon Deadllne.
17.103� EXCHANGE Eech perty shall cooperate to eRecluate en I.R.C. § 1031 tex deferred exchange
undertaken by the other party lhat i�volves the Proparty, including consenting to end acknowled9ing
essignments of Ihis Contract to a�ualified Intermediary,so long as such cooperalion is not to the detriment of
ihe cooperating perty. .
18.FEDERAL AND COLORADO WRHHOLDING. Buyer and Seller shali comply wRh the raquirements of the
Foreign Investment in Reai Property Tarz Ad (FIRPTA) and the Withhold'uig on Transfers ot Cobrado Real
Property lew,which may entail withholdirg of a percentage of the sales prlce on non-exempt lransactlons.
A check or X In any of the boxes numbered 19 through 23 below means that ttre perticular paragraph
Is appllcs0ie and Is e part of the Contract.Any paragraph balOw that le not so markeO Is not e part of
the Contrect.
19.❑SELEC110N OF TITLE INSURANCE COMPANY AND PAYMENT OF PREMIUM S FOR OWNER
17TLE INSURANCE. Buyer hereby seleds�chack one box and wmpiete as needed] Earnast Monay
Holder �— ,as the title Insurance company who shall issue the
Title Commitment and owner's title insurance pollcy and conduct ihe Closing,at ihe hour and place designated
by such title insurance company. Seller,not Buyer,shall pay the expense tor such Title Commkment and
owner's title insurance policy.
Addendum"A"ro Conuact ro Buy and SeII Real Estate(CBS]-9-12,CBS2-9-12,CB53-9-12 or CBS49-I2).This addendum has not
been approved by the Colorado Real Fstate Commission(CREC).It was prepared and m7A13 by Frascona,Joincr,Goodman and
Greenstein,P.C.(303-494-3000)legal counsel,for the ezclusive use of Aspen Snowmass Sotheby.All rights reserved. Page 3 of 4
Buyer(s)Inirials � �p SelleKs)initials
20.0 ADDITIONAL EARNE3T MONEY. Buyer shall deposlt the sum of 5 wilh Eamest Money
Holder on or before the firet buslness day following the(check ane box]
❑ Loan Ob�ectlon Deadline ❑Inapection Resolullon Deadllne,as Eamest Money In addition to the
emount of Earnest Money speciNed in the§4.1 chart.The amount of`Cash at Closing"specified in said§4.7
chaK shall be reduced by the amowt of addilional Earnes�Money so pafd.
21.0 LOAN OBJECTION. The New Loan wlll(a)be in the emouM spedfied in the§4.1 chart, (b)have an
initiel interest rete of_%per annum, and(c)have aierm ot no�ess than 30 yeare. NoRVithstending any
contrery provisbn of the Contract,Buyer may tertninete this Contrect pursuant to§§52 and 25.1 only A(d)
Buyer tlmely applies for,peys required costs erM uses reasonede eflorts In good falth to obtain ihe New Loen
conlemplated by thls paragraph,(e) Buyer is unebie to obtain e cammNment for such New Loan on or before the
Loen ObJectlon DeadUne, end(� Seller receives wririen Notice to Terminate under§§52 and 25.1 no later
than the Loan Ob)ectlon Deadllne. If_Buyer exerpses such Right to Terminate under§§52 and 25.1,Buyer
shell cooperate to allow Seiler to verity that(g)Buyer satistfed Buyer's obiigations regarding the applicatian and
pursuit of ihe New Lnan,and(h)8uyer was unable to o6tain a commitrnent for such New Loan by the Loan
Ob�ectlon Deedllne.
. 22.�LOAN COMMRMENT NECESSARY.Buyer must obtain a written loan commkment for each new loan
contamplated by§4.1 or§4.5,and depver a copy Ibereof to Seller ortor before the Laen Ob�eetlon Deadline.
If Buyet tails to deliver a wpy of such a written loan commitment or commitrnents to Seller on or betore the
Loen ObJectlon �eadllne,this Contracl shall terminate.
23.❑EARNEST MONEY DISPUTE.The reference to 120 days wntained in§24 of the Contrac[is hereby
changed to be 45 days.
�on pe4CoC�
Date: S I(, ? 13
Buyer. 8oard of County Commissloners of Pftk/n County
Hy:Jon Peacock, County Manager '
Buyer. Oate:
Oate:
Seller: David R. Steinhurst
Seiler. Date:
CTM eCantraccs- A�2032 CTM Software Corp.
Addendum"A°ro Contract to Buy end Sell Real Estste(CSSl-9-12,CBS2-9-12,CB53-9-12 or CBS4-9-12).T'his addendum has not
been epproved by the Calorado Real Fstate Commission(CREC).It was prepared and�f2013 by Frascona,Joiner,Goodman and
Greenstein,P.C.(303-494-3000)legat counsel,for the ezclusive use of Aspen Snowmass Sotheby.All rights reserved. Page 4 of 4
Duycr(s)Inidals �P Seller{s)IniUals �
Aepen Snowmess Sotheby's Intemational Resity
' Aspen �� Sothebys 415 East Hyman Avenue Aspen, CO 81611
Snowmass I M.�....e�.....�,. Raifiel Bass Broker Assoclate �
Ph: 970-948-7424 Fax: 970-920-6890
I e printed portlons of ihls Mrtn,except dNterentle�ed addPoons,have bean approvad�by Ne Coloredo Real Estate
mmlaslon CP40.312 Mandato 1-t3
x
3 THISfORM HAS IMPORTANT LEGAL CONSE�UENCES ANU THEPARTIE3 SHOULD CON9ULT LEGAL AND
TAX OR�OTHER�COUNSEL BEFORE SIGNING.
a .
s COUNTERPROPOSAL
e Date: 5/29/2013
�
a 1. This Counteiproposal shall supersede and replece any previous wunterproposal.TTils
s Counterproposal amends the proposed wniract daled 5H6/2013 (Contrad),between
lo Dav/d R. Ste/nhurst(Seller),end Board o/County Commissloners of Plticln�County(Buyer),relating ta
� ihe sele end purchase ot f6e following lepally descrlbed real eatate In the County of Pltkln,Colorado:
i i Subd(vlston:PiTIGN PARK PLACE Unit 415E DESC:(G5)
iz known as No.4i5 Paclflc Avenue 415E/G5 Aspen CO 81811(Property).
l3
NOTE:Hthe tabie le�omltted,or If any Hem ia left 61enk or le marked�ln�the"No Chenga"eolumn,It meana
. ia no cAenge to the corresponding provlelon of the CoMract.H enydtam le�marked9n�:the�•'Deleted"column, �
j It meane that.the eorreaponding provlsloo-of the ContraN to whlo6�refsrenae la mede Is deleted.
is
is 2. §3. DATES�AND DEADLINES. [Omkted ea InappilcableJ
n
ie 3. §4.PURCHASE PRICE AND TERMS. [Omltted ae Inapplleable]
19
, 20 4. ATTACHMENTS.The following are a part of Ihls Counlerpmposal:
iu no cbenge
� �� Nota:The folbwing dlsdosure fortns are atteehed but ere not a part of fhls Counterpmposai:
� x3 no change
j Za
Izs 5. OTHER CMANGEB.
� ze 17.Possesslon:-shall be changed to read...payment o/E250 per day...
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8. ACCEPTANCE��DEADLINE This Counterproposal shall explre unless acceptad in w�itlng by Saller
and Buyer as evidenced by thelr signalures below and the oftering party to thls documerrt recelves notice
' �e of such accepfance on or before 5✓31h3 5:00 PM AODT
� Date Tlme
I 29
30 ��accepted,Me Contrect,as,emended by thls Counteryroposal,shall become e wntract between Seller and Buyer.
I. All olher tertns end wndltlons of the Contrad shell remaln the same.
31
32 VI �__l"�' V �r�'
� � �°-�' oaia: s�saisoia � �7
' 33 Seller.Dav7d R.Steinhurst
� , Address:
� 34
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� ss Seller. Date:
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36 Addreas:
37
I CP 40.9•l2. COS7N7ERPROPOSAL Page 1 of 2 5/30R013 2:09:42 PM
� Selle�(s)Iaitials: (t�' J Buyer(s)Initials:
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j 38 �
� __,— Date: 5/30/Y013
� Buyer.8oard of C ffnty missionars of Pltkln County
s9 By:Jon Peacock, County Manager
� Adtlress:
� 90
� al Buyer: pate:
QZ Add�ess:
Note:VJhen thls Counlerproposal Mrm Is used,Ne ConVect is not to 6e signed by the party Initieting this
aa Counterproposal.8rokers must complete and sign lhe Bmkers AcknowledgmenLS and Compensation Disdosure
poNan ot tha Contrad.
CP40A-12. COUNTERPROPOSAL
CTM eCOnCracts-p2012 CTM Saltware Corp.
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CP 40.9-12. COlJNTERPROPOSAi. Page 2 of 2 S!!0(1017 2:09:42 PM
� Selle�(s)Iaidals: /1�� Buyet(s)Initiale: