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HomeMy WebLinkAboutbocc.ord.017.2014T RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, CON•�A�iT�� 1 35, R $0.00 Doc Code ORDINANCE C Janice K. Vos Caudill, Pitkin County, CO a (� AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO AUTHORIZING ACQUISITION OF THE MOORE RIVER PARCEL ORDINANCE #6/9 , SERIES OF 2014 RECITALS 1. The Voters of Pitkin County and the Pitkin County Commissioners established an Open Space and Trails Fund for the purposes of preserving and providing open space and trails resources, and established an Open Space and Trails Board of Trustees to guide the expenditure of those funds. 2. The Open Space and Trails Program is charged with protecting agriculture, open space, habitat, scenic view planes, water rights and river access. 3. The Moore River Parcel (the "Property") includes significant western slope sage shrubland habitat and a critical reach of the Roaring Fork Gorge that is surrounded by County Open Space. 4. The Property is traversed by the Rio Grande Trail and was identified in the Rio Grande Gorge Management Plan as having high value for other recreational uses. 5. The OSTB has recommended this purchase. NOW THEREFORE BE IT ORDAINED by the Board of County Commissioners of Pitkin County, Colorado, that: 1. The Board approves an expenditure of $1,150,000 for the Moore River Parcel property of approximately 36.61 acres and transaction costs up to $10,000. 2. Upon approval of the form by the Open Space Director and County Attorney, the Chair is authorized to execute the contract. 3. Upon approval of the form by the Open Space Director and County Attorney, the Chair is authorized to execute other documents needed to consummate this transaction. 4. That adjustments be made to the year 2014 budget as follows: OPEN SPACE AND TRAILS FUND Moore River Parcel Property Acquisition Acquisition Cost Estimated Transaction Costs Previous Revised Budget This Change Project Budget $0 $1,150,000 $1,150,000 $0 $ 10,000 $ 10,000 Total Expenditure $0 $1,160,000 $1,160,000 INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 14'h DAY OF MAY, 2014. NOTICE OF PUBLIC HEARING AND TITLE ,AND SHORT SUMMARY OF THE ORDINANCE PUBLISHED IN THE ASPEN TIMES WEEKLY ON 2014. NOTICE OF PUBLIC HEARING AND THE FULL TEXT OF THE ORDINANCE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE ( www.aspenpitkin.com ) ON THE Ag*t DAY OFn� 2014. ADOPTED AFTER FINAL READING AND PUBLIC HEARING ON THE OS-"- DAY OF U 2014. PUBLISHED BY TITLE AND SHORT SUMMARY, AFTER ADOPTION, IN THE ASPEN TIMES WEEKLY ON THE b—�, DAY OFi2/G.er 2014. POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE (www.aspenpitkin.com ) ON THE -A� DAY OF 2014. BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO Robert A. Ittner Jr. Chair Date: 3 APPROVED AS TO FORM: John Ely County E Dale`Will, Director Open Space and Trails Program Ordinance /i/9 -2014 on Peacock County Manager CONTRACT # ,` .' The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CBS4-8-13) (Mandatory 1-14) 3 4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 5 OTHER COUNSEL BEFORE SIGNING. 7 CONTRACT TO BUY AND SELL REAL ESTATE 8 (LAND) 9 (❑x Property with No Residences) 10 (❑ Property with Residences -Residential Addendum Attached) 11 12 13 Date: tl.Sy Z9, 2014 14 AGREEMENT 15 1. AGREEMENT. Buyer, identified in §2.1, agrees to buy, and Seller, identified in §2.3, agrees to sell, the Property 16 described below on the terms and conditions set forth in this contract (Contract). 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 2. PARTIES AND PROPERTY. 2.1. Buyer. Buyer, Board of County Commissioners of Pitkin County , will take title to the Property described below as ❑ Joint Tenants N Tenants In Common ❑ Other 2.2. Assignability and Inurement. This Contract N Is ❑ Is Not assignable by Buyer without Seller's prior written consent. Except as so restricted, this Contract inures to the benefit of and is binding upon the heirs, personal representatives, successors and assigns of the parties. 2.3. Seller. Seller, See Exhibit A attached hereto is the current owner of the Property described below. 2.4.. Property. The Property is the following legally described real estate in the County of Pakin Colorado: All of Lots 11, 22,and 23 including that portion of Lot 11 which lies WILY of the center line of the Roaring Fork River previously excepted in a correction deed Bk 503 Pg 213 subject to a five ft. square of land in Lot 11 leased to the USA Bank 297 Pg 875-880 Bk 553 Pg 103, all located in S27 T9S R 85W, County if Pitkin, State of Colorado. Approximately 36 acres. known as No. Street Address City State Zip together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, and all interest of Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 2.5.1. Fixtures. All fixtures attached to the Property on the date of this Contract. Other Fixtures: If any fixtures are attached to the Property after the date of this Contract, such additional fixtures are also included in the Purchase Price. 2.5.2. Personal Property. If on the Property, whether attached or not, on the date of this Contract, the following items are included: n/a Other Personal Property: n/a The Personal Property to be conveyed at Closing must be conveyed by Seller free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except rda Conveyance will be by bill of sale or other applicable legal instrument. 2.5.3. Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows: CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 1 of 17 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 The Trade Fixtures to be conveyed at Closing will be conveyed by Seller free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except Conveyance will be by bill of sale or other applicable legal instrument. 2.6. Exclusions. The following items are excluded (Exclusions): n/a 2.7. Water Rights, Well Rights, Water and Sewer Taps. ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: Any and all appurtenant water rights Any deeded water rights will be conveyed by a good and sufficient Bargain and Sale deed at Closing. ❑ 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§ 2.7.1, 2.7.3, 2.7.4 and 2.7.5, will be transferred to Buyer at Closing: ❑ 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes, Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is ❑ 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: n/a 2.7.5. Water and Sewer Taps. Note: Buyer is advised to obtain, from the provider, written confirmation of the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps. 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2 (Other Rights Relating to Water), § 2.7.3 (Well Rights), or § 2.7.4 (Water Stock Certificates), Seller agrees to convey such rights to Buyer by executing the applicable legal instrument at Closing. 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows: 88 3. DATES AND DEADLINES. Item No. Reference Event Date or Deadline 4.3 Alternative Earnest Money Deadline 10 days from the dale this contract is executed Title 2 § 8.1 Record Title Deadline June12, 2014 3 § 8.2 Record Title Objection Deadline June 26, 2014 4 § 8.3 Off -Record Title Deadline June 12, 2014 5 § 8.3 Off -Record Title Objection Deadline June 26, 2014 6 § 8.4 Title Resolution Deadline July 10, 2014 7 § 8.6 Right of First Refusal Deadline n/a Owners' Association 8 § 7.3 Association Documents Deadline June 12, 2014 9 § 7.4 Association Documents Objection Deadline June 26, 2014 Seller's Property Disclosure 10 § 10.1 Seller's Property Disclosure Deadline June 12, 2014 Loan and Credit I I § 5.1 Loan Application Deadline n/a 12 § 5.2 Loan Objection Deadline 13 § 5.3 Buyer's Credit Information Deadline 14 § 5.3 Disapproval of Buyer's Credit Information Deadline 15 § 5.4 Existing Loan Documents Deadline 16 § 5.4 Existing Loan Documents Objection Deadline CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 2 of 17 Item No. Reference Event Date or Deadline 17 § 5.4 Loan Transfer Approval Deadline Purchase Price 18 § 4.7 Seller or Private Financing Deadline § 4.3 Earnest Money Appraisal 3 19 § 6.2 Appraisal Deadline We 20 § 6.2 Appraisal Objection Deadline $ 5 Survey Private Financing$ 21 § 9.1 Current Survey Deadline June 12, 2014 22 § 9.2 Current Survey Objection Deadline June 26, 2014 23 § 9.2 Current Survey Resolution Deadline July 10, 2014 8 Inspection and Due Diligence 24 § 10.2 Inspection Objection Deadline June 26, 2014 25 § 10.3 Inspection Resolution Deadline July 10, 2014 26 § 10.5 Property Insurance Objection Deadline 27 § 10.6 Due Diligence Documents Delivery Deadline June 12, 2014 28 § 10.6 _ Due Diligence Documents Objection Deadline June 26, 2014 29 § 10.6 Due Diligence Documents Resolution Deadline July 10, 2014 30 § 10.6 Environmental Inspection Objection Deadline June 26, 2014 31 § 10.6 ADA Evaluation Objection Deadline 32 § 10.7 Conditional Sale Deadline 33 § 11.1 Tenant Estoppel Statements Deadline June 12, 2014 34 § 11.2 Tenant Estoppel Statements Objection Deadline June 26 2014 Closing and Possession 35 § 12.3 Closing Date 36 § 17 Possession Date August 14, 2014 37 § 17 Possession Time 10 a.m. 38 § 28 Acceptance Deadline Date May e, 2014 39 § 28 Acceptance Deadline Time . 4 p.m. I I 89 3.1. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. Any box, 90 blank or line in this Contract left blank or completed with the abbreviation "N/A", or the word "Deleted" means such provision, 91 including any deadline, is not applicable and the corresponding provision of this Contract to which reference is made is deleted. 92 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. 93 4. PURCHASE PRICE AND TERMS. 94 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item No. Reference Item Amount Amount 1 § 4.1 Purchase Price $ 1.150,000.00 - 2 § 4.3 Earnest Money 100,000.00 3 § 4.5 New Loan $ 4 § 4.6 Assumption Balance $ 5 § 4.7 Private Financing$ 6 § 4.7 Seller Financing$ 7 8 9§ 4.4 Cash at Closing $ 1.050,000.00 10 1 1 TOTAL $ 1.150.000.001 $ 1 1,150,000.00 95 4.2. Seller Concession. Seller, at Closing, will credit, as directed by Buyer, an amount of $ to assist 96 with any and all of the following: Buyer's closing costs, (Seller Concession). Seller Concession is in addition to any sum Seller has 97 agreed to pay or credit Buyer elsewhere in this Contract. Seller Concession will be reduced to the extent it exceeds the aggregate 98 of what is allowed by Buyer's lender as set forth in the Closing Statement, Closing Disclosure Or HUD -I, at Closing. 99 4.3. Earnest Money. The Earnest Money set forth in this section, in the form of check of wire transfer I will be 100 payable to and held by Pitkin County Title Inc. (Earnest Money Holder), in its trust account, on behalf of both 101 Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree to CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 3 of 17 102 an Alternative Earnest Money Deadline (§ 3) for its payment. The parties authorize delivery of the Earnest Money deposit to the 103 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed 104 to have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to 105 Colorado residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the 106 Earnest Money Holder in this transaction will be transferred to such fund. 107 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the 108 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline (§ 3). 109 4.3.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to 110 the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except as provided IH I in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller agrees to execute 112 and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within three 113 days of Seller's receipt of such forth. 114 4.4. Form of Funds; Time of Payment; Available Funds. 115 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 116 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 117 check, savings and loan teller's check and cashier's check (Good Funds). 118 4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be 119 paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at 120 Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this 121 Contract, ❑X Does ❑ Does Not have funds that are immediately verifiable and available in an amount not less than the amount 122 stated as Cash at Closing in § 4.1. 123 4.5. New Loan. 124 4.5.1. Buyer to Pay Loan Costs. Buyer, except as provided in § 4.2, if applicable, must timely pay Buyer's loan 125 costs, loan discount points, prepaid items and loan origination fees, as required by lender. 126 4.5.2. Buyer May Select Financing. Buyer may pay in cash or select financing appropriate and acceptable to 127 Buyer, including a different loan than initially sought, except as restricted in § 4.5.3 or § 30 (Additional Provisions). 128 4.5.3. Loan Limitations. Buyer may purchase the Property using any of the following types of loans: 129 ❑ Conventional ❑ Other 130 4.6. Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of the Assumption 131 Balance set forth in § 4. 1, presently payable at $ per I - including principal and interest 132 presently at the rate of % per annum, and also including escrow for the following as indicated: ❑ Real Estate Taxes 133 ❑ Property Insurance Premium and ❑ 134 Buyer agrees to pay a loan transfer fee not to exceed $ . At the time of assumption, the new interest rate will 135 not exceed %per annum and the new payment will not exceed $ per principal and 136 interest, plus escrow, if any. If the actual principal balance of the existing loan at Closing is less than the Assumption Balance, 137 which causes the amount of cash required from Buyer at Closing to be increased by more than $ , then Buyer has 138 the Right to Terminate under § 25.1, on or before Closing Date (§ 3), based on the reduced amount of the actual principal balance. 139 Seller ❑ Will ❑ Will Not be released from liability on said loan. If applicable, compliance with the requirements for 140 . release from liability will be evidenced by delivery ❑ on or before Loan Transfer Approval Deadline (§ 3) ❑ at Closing of 141 an appropriate letter of commitment from lender. Any cost payable for release of liability will be paid by 142 in an amount not to exceed $ 143 4.7. Seller or Private Financing. 144 WARNING: Unless the transaction is exempt, federal and state laws impose licensing, other requirements and restrictions on 145 sellers and private financiers. Contract provisions on financing and financing documents, unless exempt, should be prepared by a 146 licensed Colorado attorney or licensed mortgage loan originator. Brokers should not prepare or advise the parties on the specifics 147 of financing, including whether or not a party is exempt from the law. 148 4.7.1. Seller Financing. If Buyer is to pay all or any portion of the Purchase Price with Seller financing (§ 4.1), ❑ 149 Buyer ❑ Seller will deliver the proposed Seller financing documents to the other party on or before days before 150 Seller or Private Financing Deadline (§ 3). 151 4.7.1.1. Seller May Terminate. If Seller is to provide Seller financing (§ 4.1), this Contract is conditional 152 upon Seller determining whether such financing is satisfactory to the Seller, including its payments, interest rate, terms, conditions, 153 cost and compliance with the law. Seller has the Right to Terminate under § 25.1, on or before Seller or Private Financing 154 Deadline (§ 3), if such Seller financing is not satisfactory to the Seller, in Seller's sole subjective discretion. 155 4.7.2. Buyer May Terminate. If Buyer is to pay all or any portion of the Purchase Price with Seller or private 156 financing (§ 4.1), this Contract is conditional upon Buyer determining whether such financing is satisfactory to the Buyer, 157 including its availability, payments, interest rate, terms, conditions and cost. Buyer has the Right to Terminate under § 25.1, on or 158 before Seller or Private Financing Deadline (§ 3), if such Seller or private financing is not satisfactory to Buyer, in Buyer's sole 159 subjective discretion. 160 CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 4 of 17 161 1 TRANSACTION PROVISIONS 162 5. FINANCING CONDITIONS AND OBLIGATIONS. 163 5.1. Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New 164 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, must make an application verifiable 165 by such lender, on or before Loan Application Deadline (§ 3) and exercise reasonable efforts to obtain such loan or approval. 166 5.2. Loan Objection. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional 167 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its 168 availability, payments, interest rate, terms, conditions, and cost of such New Loan. This condition is for the sole benefit of Buyer. 169 Buyer has the Right to Terminate under § 25.1, on or before Loan Objection Deadline (§ 3), if the New Loan is not satisfactory to 170 Buyer, in Buyer's sole subjective discretion. IF SELLER IS NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE 171 BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S EARNEST MONEY WILL BE NONREFUNDABLE, except 172 as otherwise provided in this Contract (e.g., Appraisal, Title, Survey). 173 5.3. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole 174 benefit of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be at Seller's sole 175 subjective discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline (§ 3), at Buyer's 176 expense, information and documents (including a current credit report) concerning Buyer's financial, employment and credit 177 condition; (2) Buyer consents that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information 178 and documents received by Seller must be held by Seller in confidence, and not released to others except to protect Seller's interest 179 in this transaction. If the Cash at Closing is less than as set forth in § 4.1 of this Contract, Seller has the Right to Terminate under 180 § 25.1, on or before Closing. If Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective 181 discretion, Seller has the Right to Terminate under § 25.1, on or before Disapproval of Buyer's Credit Information Deadline 182 (§ 3). 183 5.4. - Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan 184 documents (including note, deed of trust, and any modifications) to Buyer by Existing Loan Documents Deadline (§ 3). For the 185 sole benefit of Buyer, this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. 186 Buyer has the Right to Terminate under § 25.1, on or before Existing Loan Documents Objection Deadline (§ 3), based on any 187 unsatisfactory provision of such loan documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the 188 Property is required, this Contract is conditional upon Buyer's obtaining such approval without change in the terms of such loan, 189 except as set forth in § 4.6. If lender's approval is not obtained by Loan Transfer Approval Deadline (§ 3), this Contract will 190 terminate on such deadline. Seller has the Right to Terminate under § 25.1, on or before Closing, in Seller's sole subjective 191 discretion, if Seller is to be released from liability under such existing loan and Buyer does not obtain such compliance as set forth 192 in § 4.6. 193 6. APPRAISAL PROVISIONS. 194 6.1. Lender Property Requirements. If the lender imposes any requirements or repairs (Requirements) to be made to 195 the Property (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, Seller has the Right to 196 Terminate under § 25.1, (notwithstanding § 10 of this Contract), on or before three days following Seller's receipt of the 197 Requirements, based on any unsatisfactory Requirements, in Seller's sole subjective discretion. Seller's Right to Terminate in this 198 § 6.1 does not apply if, on or before any termination by Seller pursuant to this § 6.1: (1) the parties enter into a written agreement 199 regarding the Requirements; or (2) the Requirements have been completed; or (3) the satisfaction of the Requirements is waived in 200 writing by Buyer. 201 6.2. Appraisal Condition. The applicable Appraisal provision set forth below applies to the respective loan type set 202 forth in § 4.5.3, or if a cash transaction (i.e. no financing), § 6.2.1 applies. 203 6.2.1. Conventional/Other. Buyer has the sole option and election to terminate this Contract if the Property's 204 valuation, determined by an appraiser engaged on behalf of is less than the Purchase Price. 205 The appraisal must be received by Buyer or Buyer's lender on or before Appraisal Deadline (§ 3). Buyer has the Right to 206 Terminate under § 25.1, on or before Appraisal Objection Deadline (§ 3), if the Property's valuation is less than the Purchase 207 Price and Seller's receipt of either a copy of such appraisal or written notice from lender that confirms the Property's valuation is 208 less than the Purchase Price. This § 6.2.1 is for the sole benefit of Buyer. 209 6.3. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this Contract must be timely paid by 210 ❑ Buyer ❑ Seller. The cost of the appraisal may include any and all fees paid to the appraiser, appraisal management company, 211 lender's agent or all three. 212 7. OWNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common Interest 213 Community and subject to such declaration. 214 7.1. Owners' Association Documents. Owners' Association Documents (Association Documents) consist of the 215 following: CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 5 of 17 216 7.1.1. All Owners' Association declarations, articles of incorporation, bylaws, articles of organization, operating 217 agreements, rules and regulations, party wall agreements; 218 7.1.2. Minutes of most recent annual owners' meeting; 219 7.1.3. Minutes of any directors' or managers' meetings during the six-month period immediately preceding the 220 date of this Contract. If none of the preceding minutes exist, then the most recent minutes, if any (§§ 7.1.1, 7.1.2 and 7.1.3, 221 collectively, Governing Documents); and 222. 7.1.4. The most recent financial documents which consist of: (1) annual and most recent balance sheet, (2) annual 223 and most recent income and expenditures statement, (3) annual budget, (4) reserve study, and (5) notice of unpaid assessments, if 224 any (collectively, Financial Documents). 225 7.2. Common Interest Community Disclosure. THE PROPERTY _IS LOCATED WITHIN A COMMON 226 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 227 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION 'FOR THE 228 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 229 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 230 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 231 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 232 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 233 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 234 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 235 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 236 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 237 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 238 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 239 THE ASSOCIATION. 240 7.3. Association Documents to Buyer. 241 ❑ 7.3.1. Seller to Provide Association Documents. Seller will cause the Association Documents to be provided to 242. Buyer, at Seller's expense, on or before Association Documents Deadline (§ 3). 243 ❑ 7.3.2. Seller Authorizes Association. Seller authorizes the Association to provide the Association Documents to 244 Buyer, at Seller's expense. 245 7.3.3. Seller's Obligation. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's 246 receipt of the Association Documents, regardless of who provides such documents. 247 Note: If neither box in this § 7.3 is checked, the provisions of § 7.3.1 apply. 248 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to 249 Terminate under § 25. 1, on or before Association Documents Objection Deadline (§ 3), based on any unsatisfactory provision in 250 any of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after 251 Association Documents Deadline (§ 3), Buyer, at Buyer's option, has the Right to Terminate under § 25.1 by Buyer's Notice to 252 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive 253 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing 254 Date (§ 3), Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice 255 to Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory, and Buyer waives any 256 Right to Terminate under this provision, notwithstanding the provisions of § 8.6 (Right of First Refusal or Contract Approval). 257 258 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 259 8.1. Evidence of Record Title. 260 S.I.I. X❑ Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance 261 company to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline (§ 3), Seller must 262 furnish to Buyer, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the 263 Purchase Price, or if this box is checked, ❑ an Abstract of Title certified to a current date. Seller will cause the title insurance 264 policy to be issued and delivered to Buyer as soon as practicable at or after Closing. 265 8.1.2. ❑ Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance 266 company to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline (§ 3), Buyer must 267 furnish to Seller, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the 268 Purchase Price. 269 If neither box in § 8. 1.1 or § 8.1.2 is checked, § 8. 1.1 applies. 270 8.1.3. Owner's Extended Coverage (DEC). The Title Commitment ❑X Will ❑ Will Not commit to delete or 271 insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) 272 unrecorded mechanics' liens, (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, 273 assessments and unredeemed tax sales prior to the year of Closing (DEC). If the title insurance company agrees to provide an CBS4$•13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 6 of 17 274 endorsement for OEC, any additional premium expense to obtain an endorsement for OEC will be paid by ❑ Buyer X❑ Seller 275 ❑ One -Half by Buyer and One -Half by Seller ❑ Other 276 Note: The title insurance company may not agree to delete or insure over any or all of the standard exceptions. 277 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, 278 covenants, conditions and restrictions burdening the Property, and (2) copies of any other documents (or, if illegible, summaries of 279 such documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 280 Documents). 281 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline (§ 3), copies of all 282 Title Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the 283 county where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense 284 of the party or parties obligated to pay for the owner's title insurance policy. 285 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any 286 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline (§ 3). 287 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the 288 Title Documents, as set forth in § 8.4 (Right to Object to Title, Resolution) on or before Record Title Objection Deadline (§ 3). 289 Buyer's objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 290 13, or any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or 291 Title Documents are not received by Buyer, on or before the Record Title Deadline (§ 3), or if there is an endorsement to the Title 292 Commitment that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be 293 delivered to Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object 294 to: (1) any required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or 295 Title Documents, or (3) any endorsement to the Tide Commitment. If Seller receives Buyer's Notice to Terminate or Notice of 296 Title Objection, pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.4 297 (Right to Object to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents 298 required by § 8.1 (Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection 299 by the applicable deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title 300 Commitment and Title Documents as satisfactory. 301 83. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline (§ 3), true copies of all 302 existing surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, 303 without limitation, governmental improvements approved, but not yet installed) or other title matters (including, without 304 limitation, rights of first refusal and options) not shown by public records, of which Seller has actual knowledge (Off -Record 305 Matters). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown by 306 public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of 307 Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 308 and § 13), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record Title Objection Deadline 309 (§ 3). If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline (§ 3), Buyer has until the earlier of 310 Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. If Seller receives Buyer's Notice to 311 Terminate or Notice of Title Objection pursuant to this § 8.3 (Off -Record Title), any title objection by Buyer and this Contract are 312 governed by the provisions set forth in § 8.4 (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to 313 Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such rights, if any, 314 of third parties of which Buyer has actual knowledge. 315 8.4. Right to Object to Title, Resolution. Buyer's right to object to any title matters includes, but is not limited to those 316 matters set forth in §§ 8.2 (Record Title), 8.3 (Off -Record Title) and 13 (Transfer of Title), in Buyer's sole subjective discretion. If 317 Buyer objects to any title matter, on or before the applicable deadline, Buyer has the following options: 318 8.4.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice 319 of Title Objection) on or before the applicable deadline, and if Buyer and Seller have not agreed to a written settlement thereof on 320 or before Title Resolution Deadline (§ 3)5 this Contract will terminate on the expiration of Title Resolution Deadline (§ 3), 321 unless Seller receives Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive 322 objection to such items and waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline 323 (§ 3). If either the Record Title Deadline or the Off -Record Title Deadline, or both, are extended to the earlier of Closing or ten 324 days after receipt of the applicable documents by Buyer, pursuant to § 8.2 (Record Title) or § 8.3 (Off -Record Title), the Title 325 Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer's receipt of the 326 applicable documents; or 327 8.4.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 25.1, on or 328 before the applicable deadline, based on any unsatisfactory title matter, in Buyer's sole subjective discretion. 329 8.5. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 330 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 331 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK 332 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CBS44-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 7 of 17 333 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 334 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE 335 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY 336 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING 337 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 338 RECORDER, OR THE COUNTY ASSESSOR. 339 Buyer has the Right to Terminate under § 25.1, on or before Off -Record Title Objection Deadline (§ 3), based on any 340 unsatisfactory effect of the Property being located within a special taxing district, in Buyer's sole subjective discretion. 341 8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property or a right to approve 342 this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the holder of the 343 right of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract will terminate. 344 If the right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and 345 effect. Seller must promptly notify Buyer in writing of the foregoing. If expiration or waiver of the right of first refusal or approval 346 of this Contract has not occurred on or before Right of First Refusal Deadline (§ 3), this Contract will then terminate. 347 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed 348 carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, 349 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, 350 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property, and 351 various laws and governmental regulations concerning land use, development and environmental matters. The surface estate may 352be owned separately from the underlying mineral estate, and transfer of the surface estate does not necessarily include 353 transfer of the mineral rights or water rights. Third parties may hold interests in oil, gas, other minerals, geothermal 354 energy or water on or under the Property, which interests may give them rights to enter and use the Property. Such matters, 355 and others, may be excluded from or not covered by the owner's title insurance policy. Buyer is advised to timely consult legal 356 counsel with respect to all such matters as there are strict time limits provided in this Contract [e.g., Record Title Objection 357 Deadline (§ 3) and Off -Record Title Objection Deadline (§ 3)]. 358 9. CURRENT SURVEY REVIEW. 359 9.1. Current Survey Conditions. If the box in § 9.1.1 or § 9.1.2 is checked, Buyer, the issuer of the Title Commitment 360 or the provider of the opinion of title if an Abstract of Title, and will receive an Improvement Location 361 Certificate, Improvement Survey Plat or other form of survey set forth in § 9.1.2 (collectively, Current Survey), onorbefore 362 Current Survey Deadline (§ 3). The Current Survey will be certified by the surveyor to all those who are to receive the Current 363 Survey. 364 ❑ 9.1.1. Improvement Location Certificate. If the box in this § 9.1.1 is checked, ❑ Seller ❑ Buyer will order or 365 rovide, and pay, on or before Closing, the cost of an Improvement Location Certificate. 366 9.1.2. Other Survey. If the box in this § 9.1.2 is checked, a Current Survey, other than an Improvement Location 367 Certificate, will be an ❑X Improvement Survey Plat or ❑ . The parties agree that payment of the cost of 368 the Current Survey and obligation to order or provide the Current Survey are as follows: 369 370 Buyer to be responsible for 100% of the cost of said survey. 371 372 9.2. Current Survey Objection. Buyer has the right to review and object to the Current Survey. If the Current Survey is 373 not timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may, on or before Current 374 Survey Objection Deadline (§ 3), notwithstanding § 8.3 or § 13: 375 9.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 376 9.2.2. Current Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is 377 shown in the Current Survey that is unsatisfactory and that Buyer requires Seller to correct. •378 9.3. Current Survey Resolution. If a Current Survey Objection is received by Seller, on or before Current Survey 379 Objection Deadline (§ 3), and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Current Survey 380 Resolution Deadline (§ 3), this Contract will terminate on the Current Survey Resolution Deadline (§ 3), unless Seller receives 381 Buyer's written withdrawal of the Current Survey Objection before such termination, i.e., on or before expiration of Current 382 Survey Resolution Deadline (§ 3). 383 C6S4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 8 of 17 384 1DISCLOSURE, INSPECTION AND DUE DILIGENCE 385 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE 386 OF WATER. 387 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline (§ 3), Seller agrees to deliver to 388 Buyer the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure forth completed 389 by Seller to Seller's actual knowledge, current as of the date of this Contract. 390 10.2. Inspection Objection. Unless otherwise provided in this Contract, Buyer acknowledges that Seller is conveying the 391 Property to Buyer in an "as is" condition, "where is" and "with all faults." Colorado law requires that Seller disclose to Buyer any 392 latent defects actually known by Seller. Disclosure of latent defects must be in writing. Buyer, acting in good faith, has the right to 393 have inspections (by one or more third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. 394 If (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the 395 electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) service 396 to the Property (including utilities and communication services), systems and components of the Property (e.g., heating and 397 plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise 398 (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole 399 subjective discretion, Buyer may, on or before Inspection Objection Deadline (§ 3): 400 10.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 401 10.2.2. Inspection Objection. Deliver to Seller a written description of any unsatisfactory physical condition that 402 Buyer requires Seller to correct. 403 10.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 404 Deadline (§ 3) and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution 405 ,Deadline (§ 3), this Contract will terminate on Inspection Resolution Deadline (§ 3) unless Seller receives Buyer's written 406 withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline 407 (§ 3). 408 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 409 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 410 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer 411 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 412 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such 413 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against 414 any such liability, damage, cost or expense, or to enforce this section, including Seller's reasonable attorney fees, legal fees and 415 expenses. The provisions of this section survive the termination of this Contract. This § -10.4 does not apply to items performed 416 pursuant to an Inspection Resolution. 417 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium for 418 property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance 419 Objection Deadline (§ 3), based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 420 10.6. Due Diligence. 421 10.6.1. Due Diligence Documents. If the respective box is checked, Seller agrees to deliver copies of the following 422 documents and information pertaining to the Property (Due Diligence Documents) to Buyer on or before Due Diligence 423 Documents Delivery Deadline (§ 3): 424 ❑ 10.6.1.1. All contracts relating to the operation, maintenance and management of the Property; 425 ❑ 10.6.1.2. Property tax bills for the last years; 426 ❑ 10.6.1.3. As -built construction plans to the Property and the tenant improvements, including architectural, 427 electrical, mechanical, and structural systems, engineering reports, and permanent Certificates of Occupancy, to the extent now 428 available; 429 ❑ 10.6.1.4. A list of all Inclusions to be conveyed to Buyer; 430 ❑ 10.6.1.5. Operating statements for the past years; 431 ❑ 10.6.1.6. A rent roll accurate and correct to the date of this Contract; 432 ❑ 10.6.1.7. All current leases, including any amendments or other occupancy agreements, pertaining to the 433 Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing are as follows (Leases): 434 435 436 437 ❑ 10.6.1.8. A schedule of any tenant improvement work Seller is obligated to complete but has not yet been 438 completed and capital improvement work either scheduled or in process on the date of this Contract; 439 ❑ 10.6.1.9. All insurance policies pertaining to the Property and copies of any claims which have been made 440 for the past years; CBS4.9.13. CONTRACT TO BIN AND SELL REAL ESTATE (LAND) Page 9 of 17 441 ❑ 10.6.1.10. Soils reports, Surveys and engineering reports or data pertaining to the Property (if not delivered 442 earlier under § 8.3); 443 ❑ 10.6.1.11. Any and all existing documentation and reports regarding Phase I and II environmental reports, 444 letters, test results, advisories, and similar documents respective to the existence or nonexistence of asbestos, PCB transformers, or 445 other toxic hazardous or contaminated substances, and/or underground storage tanks and/or radon gas. If no reports are in Seller's 446 ossession or known to Seller, Seller warrants that no such reports are in Seller's possession or known to Seller; 447 10.6.1.12. Any Americans with Disabilities Act reports, studies or surveys concerning the compliance of the 448 Property with said Act; 449 ❑ 10.6.1.13.All permits, licenses and other building or use authorizations issued by any governmental 450 authority with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use authorizations, 451 if any; and 452 ❑ 10.6.1.14. Other documents and information: 453 454 455 456 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object to Due 457 Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory in Buyer's sole subjective 458 discretion, Buyer, may, on or before Due Diligence Documents Objection Deadline (§ 3): 459 10.6.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 460 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any 461 unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 462 10.6.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by Seller, on 463 or before Due Diligence Documents Objection Deadline (§ 3), and if Buyer and Seller have not agreed in writing to a settlement 464 thereof on or before Due Diligence Documents Resolution Deadline (§ 3), this Contract will terminate on Due Diligence 465 Documents Resolution Deadline (§ 3) unless Seller receives Buyer's written withdrawal of the Due Diligence Documents 466 Objection before such termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline (§ 3). 467 10.6.4. Zoning. Buyer has the Right to Terminate under § 25. 1, on or before Due Diligence Documents Objection 468 Deadline (§ 3), based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction 469 over the Property, in Buyer's sole subjective discretion. 470 10.6.5. Due Diligence—Environmental, ADA. Buyer has the right tol obtain environmental inspections of the 471 Property including Phase I and Phase II Environmental Site Assessments, as applicable. ❑ Seller X❑ Buyer will order or provide 472 MX Phase I Environmental Site Assessment, ❑ Phase 11 Environmental Site Assessment (compliant with ASTM E1527-05 473 standard practices for Environmental Site Assessments) and/or ❑X TSP Regan. and Mineral assessments . at the expense of ❑ Seller ❑X 474 Buyer (Environmental Inspection). In addition, Buyer, at Buyer's expense, may also conduct an evaluation whether the Property 475 complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and evaluations must be conducted at 476 such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's tenants' business uses of the 477 Property, if any. 478 If Buyer's Phase 1 Environmental Site Assessment recommends a Phase If Environmental Site Assessment, the 479 Environmental Inspection Objection Deadline (§ 3) will be extended by so days (Extended Environmental Inspection 480 Objection Deadline) and if such Extended Environmental Inspection Objection Deadline extends beyond the Closing Date (§ 3), 481 the Closing Date (§ 3) will be extended a like period of time. In such event, ❑ Seller ❑X Buyer must pay the cost for such Phase 482 11 Environmental Site Assessment. 483 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.5, Buyer has the 484 Right to Terminate under § 25.1, on or before Environmental Inspection Objection Deadline (§ 3), or if applicable the Extended 485 Environmental Inspection Objection Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole 486 subjective discretion. 487 Buyer has the Right to Terminate under § 25.1, on or before ADA Evaluation Objection Deadline (§ 3), based on any 488 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion. 489 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 490 owned by Buyer and commonly known as . Buyer has the Right to Terminate under § 25.1 491 effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale Deadline (§ 3) if such property is not 492 sold and closed by such deadline. This § 10.7 is for the sole benefit of Buyer. If Seller does not receive Buyer's Notice to 493 Terminate on or before Conditional Sale Deadline (§ 3), Buyer waives any Right to Terminate under this provision. 494 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ❑ Does ❑ Does Not 495 acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable 496 water for the Property. Buyer ❑ DoesEl Does Not acknowledge receipt of a copy of the current well permit. ❑ There is No Well. 497 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 498 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 499 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 10 of 17 500 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned 501 to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the 502 Lease or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller 503 enter into any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably 504 withheld or delayed. 505 11. TENANT ESTOPPEL STATEMENTS. 506 11.1. Tenant Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. 507 Seller must obtain and deliver to Buyer on or before Tenant Estoppel Statements Deadline (§ 3), statements in a form and 508 substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) attached to a copy of 509 the Lease stating: 510 11.1.1. The commencement date of the Lease and scheduled termination date of the Lease; 511 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or 512 amendments; 513 11.1.3. The amount of any advance rentals paid, rent concessions given, and deposits paid to Seller; 514 11.1.4. The amount of monthly (or other applicable period) rental paid to Seller; 515 11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and 516 11.1.6. That the Lease to which the Estoppel is attached is a true, correct and complete copy of the Lease demising 517 the premises it describes. 518 11.2. Tenant Estoppel Statements Objection. Buyer has the Right to Terminate under § 25.1, on or before Tenant 519 Estoppel Statements Objection Deadline (§ 3), based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective 520 discretion, or if Seller fails to deliver the Estoppel Statements on or before Tenant Estoppel Statements Deadline (§ 3). Buyer 521 also has the unilateral right to waive any unsatisfactory Estoppel Statement. 522 523 1 CLOSING PROVISIONS 524 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 525 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to 526 enable the ClosingCompanyto prepare and deliver documents required for Closing to Buyer and Seller and their designees. If 527 Buyer is obtaining a new loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing 528 Company, in a timely manner, all required loan documents and financial information concerning Buyer's new loan. Buyer and 529 Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this 530 transaction. Buyer and Seller will sign and complete all customary or reasonably required documents at or before Closing. 531 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions ❑ Are ❑X Are Not executed with 532 this Contract. 533 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as 534 the Closing Date (§ 3) or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by 535 536 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality, and extent of service vary 537 between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies) 538 13. TRANSFER OF TITLE. Subject to tender of payment at Closing as required herein and compliance by Buyer with the 539 other terms and provisions hereof, Seller must execute and deliver a good and sufficient General warranty deed 540 to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as 541 provided herein, title will be conveyed free and clear of all liens, including any governmental liens for special improvements 542 instal led as of the date of Buyer's signature hereon, whether assessed or not. Title wil I be conveyed subject to: 543 13.1. Those specific Exceptions described by reference to recorded documents as reflected in the Title Documents 544 accepted by Buyer in accordance with Record Title (§ 8.2), 545 13.2. Distribution utility easements (including cable TV), 546 13.3. Those specifically described rights of third parties not shown by the public records of which Buyer has actual 547 knowledge and which were accepted by Buyer in accordance with Off -Record Title (§ 8.3) and Current Survey Review (§ 9), 548 13.4. Inclusion of the Property within any special taxing district, 549 13.5. Any special assessment if the improvements were not installed as of the date of Buyer's signature hereon, whether 550 assessed prior to or after Closing, and 551 13.6. Other CBS4-8-13. CONTRACT' TO BUY AND SELL REAL ESTATE (LAND) Page 11 017 . 552 14. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid will be paid at or before Closing from the 553 proceeds of this transaction or from any other source. 554 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES. 555 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required 556 to be paid at Closing, except as otherwise provided herein. 557 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer ❑ Seller 558 X❑ One -Half by Buyer and One -Half by Seller ❑ Other 559 15.3. Status Letter and Record Change Fees. Any fees incident to the issuance of Association's statement of 560 assessments (Status Letter) must be paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ❑X None. 561 Any record change fee assessed by the Association including, but not limited to, ownership record transfer fees, regardless of name 562 or title of such fee (Association's Record Change Fee) must be paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One - 563 Half by Seller ® None. 564 15.4. Local Transfer Tax. ❑ The Local Transfer Tax of % of the Purchase Price must be paid at Closing by 565 ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ❑X None. 566 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such 567 as community association fees, developer fees and foundation fees, must be paid at Closing by ❑ Buyer ❑ Seller ❑ One - 568 Half by Buyer and One -Half by Seller X❑ None. The Private Transfer fee, whether one or more, is for the following 569 association(s): in the total amount of _% of the Purchase 570 Price or $ 571 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed 572 $ for: 573 ❑X Water Stock/Certificates ❑X Water District 574 ❑X Augmentation Membership ❑X Small Domestic Water Company ❑ 575 and must be paid at Closing by ❑ Buyer ❑X Seller ❑ One -Half by Buyer and One -Half by Seller ❑ None. 576 1 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by ❑ 577 Buyer ❑X Seller ❑ One -Half by Buyer and One -Half by Seller ❑ None. 578 16. PRORATIONS. The following will be prorated to the Closing Date (§ 3), except as otherwise provided: 579 16.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes for they! 580 year of Closing, based on ❑X Taxes for the Calendar Year Immediately Preceding Closing ❑ Most Recent Mill Levy and 581 Most Recent Assessed Valuation, or ❑ Other 582 16.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller will transfer or credit to 583 Buyer the security deposits for all Leases assigned, or any remainder after lawful deductions, and notify all tenants in writing of 584 such transfer and of the transferee's name and address. Seller must assign to Buyer all Leases in effect at Closing and Buyer must 585 assume Seller's obligations under such Leases. 586 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 587 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred 588 maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. 589 Buyer acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. 590 Any special assessment assessed prior to Closing Date (§ 3) by the Association will be the obligation of ❑ Buyer ❑ Seller. 591 Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer's 592 signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller. Seller represents that the Association 593 Assessments are currently payable at approximately $ per and that there are no unpaid regular 594 or special assessments against the Property except the current regular assessments and 595 Such assessments are subject to change as provided in the Governing Documents. Seller agrees to promptly request the 596 Association to deliver to Buyer before Closing Date (§ 3) a current Status Letter. 597 16.4. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and 598 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations are final. 599 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date (§ 3) at Possession Time (§ 3), 600 subject to the Leases as set forth in § 10.6.1.7. 601 602 If Seller, after Closing, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally liable 603 to Buyer for payment of $ 50.00 per day (or any part of a day notwithstanding § 18.1) from Possession Date (§ 3) and 604 Possession Time (§ 3) until possession is delivered. 605 CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 12 of 17 606 GENERAL PROVISIONS 607 _ 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 608 18.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain 609 Time (Standard or Daylight Savings as applicable). 610 18.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified, 611 the first day is excluded and the last day is included (e.g., three days after MEC). If any deadline falls on a Saturday, Sunday or 612 federal or Colorado state holiday (Holiday), such deadline X❑ Will ❑ Will Not be extended to the next day that is not a 613 Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 614 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND 615 WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the 616 condition existing as of the date of this Contract, ordinary wear and tear excepted. 617 19.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of 618 loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), Seller is obligated 619 to repair the same before Closing Date (§ 3). Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), if 620 the Property Damage is not repaired before Closing Date (§ 3) or if the damage exceeds such sum. Should Buyer elect to carry out 621 this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received 622 by Seller (but not the Association, if any) resulting from such damage to the Property and Inclusions, plus the amount of any 623 deductible provided for in such insurance policy. Such credit must not exceed the Purchase Price. In the event Seller has not 624 received such insurance proceeds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option of 625 Buyer, Seller must assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such insurance 626 policy, but not to exceed the total Purchase Price. 627 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication 628 services), system, component or fixture of the Property (collectively Service), e.g., heating or plumbing, fail or be damaged 629 between the date of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement 630 of such Inclusion or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the 631 maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance 632 proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or 633 replaced on or before Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before 634 Closing Date (§ 3), or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such 635 Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim 636 against the Association, if any, will survive Closing. Seller and Buyer are aware of the existence of pre -owned home warranty 637 programs that may be purchased and may cover the repair or replacement of such Inclusions. 638 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 639 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation 640 action. Buyer has the Right to Terminate under § 25.1, on or before Closing Date (§ 3), based on such condemnation action, in 641 Buyer's sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the 642 Property and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution 643 in the value of the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase 644 Price. 645 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the 646 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 647 19.5. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be home 648 by the party entitled to the growing crops as provided in § 2.8 and such party is entitled to such insurance proceeds or benefits for 649 the growing crops. 650 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge 651 that the respective broker has advised that this Contract has important legal consequences and has recommended the examination 652 of title and consultation with legal and tax or other counsel before signing this Contract. 653 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received as 654 Earnest Money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any obligation 655 hereunder is not performed or waived as herein provided, the nondefaulting party has the following remedies: 656 21.1. If Buyer is in Default: 657 ❑ 21.1.1. Specific Performance. Seller may elect to treat this Contract as canceled, in which case all Earnest Money 658 (whether or not paid byBuyer)will be paid to Seller and retained by Seller; and Seller may recover such damages as may be CBS44-13. CONTRACT TO BUT AND SELL REAL ESTATE (LAND) Page 13 of 17 659 proper; or Seller may elect to treat this Contract as being in full force and effect and Seller has the right to specific performance or 660 damages, or both. - 661 21.1.2. Liquidated Damages, Applicable. This § 21.1.2 applies unless the box in S 21.1.1. is checked. All 662 Earnest Money (whether or not paid by Buyer) will be paid to Seller, and retained by Seller. Both parties will thereafter be released 663 from all obligations hereunder. It is agreed that the Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a 664 penalty, which amount the parties agree is fair and reasonable and (except as provided in §§ 10.4, 22, 23 and 24), said payment of 665 Earnest Money is SELLER'S ONLY REMEDY for Buyer's failure to perform the obligations of this Contract. Seller expressly 666 ' waives the remedies of specific performance and additional damages. 667 21.2. If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received 668 hereunder will be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Contract as 669 being in full force and effect and Buyer has the right to specific performance or damages, or both. 670 22. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration 671 or litigation relating to this Contract, prior to or after Closing Date (§ 3), the arbitrator or court must award to the prevailing party 672 all reasonable costs and expenses, including attorney fees, legal fees and expenses. - 673 23. MEDIATION. If a dispute arises relating to this Contract, prior to or after Closing, and is not resolved, the parties must first 674 proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial person 675 who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the 676 dispute must agree, in writing, before any settlement is binding. The parties will jointly appoint an acceptable mediator and will 677 share equally in the cost of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire dispute is 678 not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at the party's 679 last known address. This section will not alter any date in this Contract, unless otherwise agreed. 680 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest 681 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding 682 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole 683 subjective discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead all parties and 684 deposit Earnest Money into a court of competent jurisdiction, (Earnest Money Holder is entitled, to recover court costs and 685 reasonable attorney and legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money 686 Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 687 lawsuit (Lawsuit) within one hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is 688 authorized to return the Earnest Money to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit, and has 689 not interpled the monies at the time of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order 690 of the Court. The parties reaffirm the obligation of Mediation (§ 23). This Section will survive cancellation or termination of this 691 Contract. 692 25. TERMINATION. 693 25.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the 694 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 695 notice was received on or before the applicable deadline specified in this Contract. If the Notice to Terminate is not received on or 696 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as 697 satisfactory and waives the Right to Terminate under such provision. 698 25.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder will be 699 returned and the parties are relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 and 24. 700 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL. This Contract, its exhibits and specified addenda, constitute 701 the entire agreement between the parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or 702 written, have been merged and integrated into this Contract. No subsequent modification of any of the terms of this Contract is 703 valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or obligation in this 704 Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same. 705 27. NOTICE, DELIVERY, AND CHOICE OF LAW. 706 27.1. Physical Delivery. All notices must be in writing, except as provided in § 27.2. Any document, including a signed 707 document or notice, from or on behalf of Seller, and delivered to Buyer is effective when physically received by Buyer, any 708 signatory on behalf of Buyer, any named individual of Buyer, any representative of Buyer, or Brokerage Firm of Broker working 709 with Buyer (except for delivery, after Closing, of the notice requesting mediation described in § 23 and except as provided in 710 § 27.2). Any document, including a signed document or notice, from or on behalf of Buyer, and delivered to Seller is effective 711 when physically received by Seller, any signatory on behalf of Seller, any named individual of Seller, any representative of Seller, CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 14 of 17 712 or Brokerage Firm of Broker working with Seller (except for delivery, after Closing, of the notice requesting mediation described 713 in § 23 and except as provided in § 27.2). 714 27.2. Electronic Delivery. As an alternative to physical delivery, any document, including a signed document or written 715 notice, may be delivered in electronic form only by the following indicated methods: ❑X Facsimile NX Email 716 0 Internet. If no box is checked, this § 27.2 is not applicable and § 27.1 governs notice and delivery. Documents with original 717 signatures will be provided upon request of any party. 718 27.3. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 719 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for property 720 located in Colorado. 721 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 722 Seller, as evidenced by their signatures below, and the offering party receives notice of such acceptance pursuant to § 27 on or 723 before Acceptance Deadline Date (§ 3) and Acceptance Deadline Time (§ 3). If accepted, this document will become a contract 724 between Seller and Buyer. A copy of this Contract may be executed by each party, separately, and when each party has executed a 725 copy thereof, such copies taken together are deemed to be a full and complete contract between the parties. 726 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith, including but not 727 limited to exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations (§ 5), Title 728 Insurance, Record Title and Off -Record Title (§ 8), Current Survey Review (§ 9) and Property Disclosure, Inspection, 729 Indemnity, Insurability, Due Diligence and Source of Water (§ I0). -, 730 731 1 ADDITIONAL PROVISIONS AND ATTACHMENTS I 732 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate 733 Commission.) 734 735 736 1 737 31. ATTACHMENTS. 738 31.1. The following attachments are a part of this Contract 739 Addendum 1, Exhibit A and Exhibit B 740 741 742 31.2. The following disclosure forms are attached but are not a part of this Contract: 743 744 745 746 747 748 SIGNATURES Buyer's Name: Board of County Commissioners of Pitkin County Buyer's Signature Date Address: 530 E. Main St. 3rd floor Aspen CO 81611 Phone No.: Fax No..- Electronic o.:Electronic Address: Buyer's Name Buyer's Signature Address: Phone No.: Fax No.: Electronic Address: iNOTE: If this offer is being countered or rejected, do not sign this document. Refer to § 321 Date CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 15 of 17 749 750 751 752 Seller's Name: SeeExhibitA Seller's Signature Date Address: See Exhibit B for signature pages Phone No.: Fax No.: Electronic Address: Seller's Name: Seller's Signature Date Address: Phone No.: Fax No.: Electronic Address: 32. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected. Initials only of party (Buyer or Seller) who countered or rejected offer END OF CONTRACT TO BUY AND SELL REAL ESTATE 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Buyer) Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the Contract, agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Buyer as a ❑ Buyer's Agent ❑ Seller's Agent ❑ Transaction -Broker in this transaction. ❑ This is a Change of Status. Brokerage Firm's compensation or commission is to be paid by ❑ Listing Brokerage Firm ❑ Buyer ❑ Other Brokerage Firm's Name: Broker's Name: Broker's Signature Date Address: Phone No.: Fax No.: Electronic Address: 34. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker -❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the Contract, agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared Broker is working with Seller as a ❑ Seller's Agent ❑ Buyer's Agent ❑ Transaction -Broker in this transaction. ❑ This is a Change of Status. Brokerage Finn's compensation or commission is to be paid by ❑ Seller ❑ Buyer ❑ Other CBS4-8-13. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) Page 16 of 17 Brokerage Firm's Name: Broker's Name: Address: Phone No.: Fax No.: Electronic Address: 753 Signature Date CBS4-8-13. CONTRACT TO BUY AND SELL. REAL ESTATE (LAND) Page 17 of 17 ADDENDUM 1 TO CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THOMAS A. MOORE — 1/6TH INTEREST, CAROLYN W. MOORE — 1/6TH INTEREST, THE KENNETH W. RANSOM TRUST CREATED AUGUST 20, 1991 — 1/3RD INTEREST, THE GEER, JANE ELIZABETH TRUST CREATED OCTOBER 31, 1991 — 1/6TH INTEREST AND THE MARSHALL GEER III DECLARATION OF TRUST DATED OCTOBER 31, 1991 — 1/6TH INTEREST, AS SELLER AND THE BOARD OF COUNTY CO MIS IONERS OF PITKIN COUNTY, COLORADO AS BUYER DATED 5&: 2 Ck1 1 Thi Addendum is made a part of that certain Contract to Buy and Sell Real Estate dated S 2 / 1 ("Contract") between the Board of County Commissioners of Pitkin County, Colorado, as buyer ("Buyer") and Thomas A. Moore, Carolyn W. Moore, the Kenneth W. Ransom Trust created August 20, 1991, the Geer, Jane Elizabeth Trust created October 31, 1991, and the Marshall Geer III Declaration of Trust dated October 31, 1991, as seller ("Sellers"), with respect to property known as Pitkin County Parcel Number 2643-272-00-017, County of Pitkin, State of Colorado ("Property"). In the event of any conflict or inconsistency between the provisions of this Addendum and the Contract, the provisions of this Addendum shall govern and control. 1. Improvement Survey. On or before the Off -Record Matters Deadline, Buyer shall obtain a current Improvement Survey of the of the property certified by a licensed Colorado surveyor for the express benefit of Seller, Buyer and the Title Company, depicting all property corners, improvements, easements and rights of way, driveways, parking areas, walls, fences, encroachments on or off the Property, utility lines and utility installations, and restrictions of record. Cost of the survey shall be borne by Buyer. The Improvement Survey shall be in form and content sufficient to cause the title company to issue an endorsement to its title commitment agreeing to delete from Schedule B (Section 2) of its to -be -issued title policy standard printed exception Nos. 1-3 at no cost to Buyer. In the event the Improvement Survey discloses matters which in the Buyer's opinion constitute defects in the merchantability of Seller's title, Buyer must give Seller written notice of such unsatisfactory title condition(s) no later than the Title Resolution Deadline. If Buyer in fact gives such notice to Seller in a timely manner, the provisions of § 9.2 of the Contract shall apply thereto. If no such notice is timely given, Buyer shall be deemed to have waived any objections to matters shown on the Improvement Survey. 2. County Approval. Notwithstanding the signature hereto by the Open Space Director recommending approval, the obligation of Buyer to perform hereunder is expressly conditioned upon the adoption by Buyer of an ordinance authorizing the sale of the Property to Buyer pursuant to this Contract. In the event such ordinance is not duly adopted by Buyer within sixty (60) days following the date of this Contract or any extension thereof as the parties may, in writing, agree, either Seller or Buyer may, upon written notice to the other, terminate this Contract whereupon Buyer shall be entitled to a prompt return of all Earnest Money paid. In the event such ordinance is timely adopted. Seller shall, at the request of Buyer, re -execute this Contract by the signature of the Chairman or Vice -Chairman of the Pitkin County Board of County Commissioners. 3. Standard Schedule B-2 Exceptions. Seller shall furnish to Buyer at their sole expense an endorsement to delete standard exceptions 1-6 on Schedule B-2 of the Title Insurance Commitment. 4. Additional Documents. At Closing, Seller shall execute and deliver such documents as shall be necessary to transfer and convey to Buyer, free and dear of all liens and encumbrances, all right, title and interest of Seller. 5. Interest on Earnest Money. Any and all monies paid by Buyer prior to closing shall be placed in an insured, interest bearing money market -type account with a local commercial bank with all interest thereon to accrue for the benefit of Buyer. Whether or not Buyer shall ever be in default under this Contract resulting in a forfeiture of its earnest money, Buyer shall nevertheless be entitled to retain, as its sole and separate property, all interest earned on said earnest money. 6. Notices. Any notice, demand or document which either party is required or may desire to give, deliver or make to the other party shall be in accordance with § 27 of the Contract to the following: To Buyer: Board of County Commissioners of Pitkin County 530 East Main Street, 3`d Floor Aspen, CO 81611 Facsimile No.: (970) 920-5198 c/o Dale.Will@pitkincounty.com With copy to: John Ely Pitkin County Attorney 530 East Main Street, Suite 302 i Aspen, CO 81611 Facsimile No.: (970) 920-5198 John.Ely@pitkincounty.com To Seller: Thomas A. Moore, Carolyn W. Moore, The Kenneth W. Ransom Trust Created August 20, 1991, The Geer, Jane Elizabeth Trust Created October 31, 1991, and The Marshall Geer III Declaration Of Trust Dated October 31, 1991 C/O Tommy Moore 1309 Mclain Flats Rd. Woody Creek Colorado 81656 With a Copy To: John T. Kelly Esq. 210 S. Galena #31 Aspen Colorado 81611 Facsimile no. 970-925-7423 Any notice, demand or document so given, delivered or made by United States mail shall be deemed to have been given three (3) days after same is deposited in the United States mail as a certified matter, addressed as above provided, with postage thereon fully prepaid. Notice by facsimile, e-mail or internet delivery shall be deemed given upon receipt of a confirmation by sender and notice by personal delivery shall be deemed given when received. 7. Miscellaneous. (a) Saturday. Sunday. or Holiday. If any time period referred to in this Contract shall end on a Saturday, Sunday or legal holiday, such time period shall automatically be extended to the first regular business day thereafter. (b) Controlling Law. This Contract shall be construed in accordance with and governed by the laws of the State of Colorado. The parties hereto agree and intend that the proper and exclusive forum for any litigation of any disputes or controversies arising out of or related to this Contract shall be the District Court for Pitkin County, Colorado. For purposes of any litigation, the parties consent to the chosen forum for purposes of jurisdiction and venue. (c) Counterparts. This Contract (or any amendments, modifications or extensions hereof) may be executed in several counterparts and, after execution and as executed, shall constitute an agreement binding on all of the parties, notwithstanding that all of the parties are not signatories to the original or the same counterpart. (d) Further Assurances. Each of the parties agree to execute, acknowledge, deliver, file and record, or cause to be executed, acknowledged, delivered, filed and recorded such further instruments and documents and such certificates, and to do all things and acts as the other party may reasonably require in order to carry out the intentions of this Contract and the transaction contemplated hereby. (e) Survival. All of the warranties and representations contained in this Contract of an ongoing nature or intended to survive shall survive the actual closing of the transaction contemplated thereby. (f) Construction. No provision of this Contract shall be construed against or interpreted to the disadvantage of any party by reason of such party having or being deemed to have requested, drafted, required or structured such provision. It is the intention of the parties that the party who employed the scrivener to prepare this Contract not be prejudiced by virtue of such act, nor shall tilts Contract be construed against such party by virtue of its actions in retaining the scrivener. (g) Attorneys' Fees. In the event of any action for breach of, to enforce the provisions of, or otherwise involving this Contract, the court in such action shall award a reasonable sum as attorneys' fees to the party who, in light of the issues litigated and the court's decision on those issues was the substantially prevailing party in the action. If a party voluntarily dismisses an action, a reasonable sum as attorneys' fees shall be awarded to the other party. . EXHIBIT A 1.) Thomas A. Moore — 1/6th interest 2.) Carolyn W. Moore — 1/6th interest 3.) The Kenneth W. Ransom Trust created August 20, 1991 — 1/3rd interest 4.) The Geer, Jane Elizabeth Trust created October 31, 1991-1/6th interest 5.) The Marshall Geer III Declaration of Trust dated October 31, 1991— 1/6th interest EXHIBIT B THOMAS A. MOORE STATE OF ss. COUNTY OF THOMAS A. MOORE The foregoing instrument was acknowledged before me this 1�day of cP>7i 1, - , 2014, by THOMAS A. MOORE. (SEAL) SUSAN CAPIEL Notary Public State of Colorado Notary 10 20144006373 I Commission Expires Feb 7, 2018 Notar ublic My Commission Expires: % /Q EXHIBIT B BY: e&gr � W., l'" z CAROLYN W OGRE STATE OF CO LO et�'V-< ) ss. COUNTY OF CAROLYN W. MOORE The foregoing instrument was acknowledged before me this 4� day of A 12014, by CAROLYN W. MOORE. (SEAL) SUSAN CAPIEL Notary Public State of Colorado Notary Public Notary ID 20144006373 immission Ex ires Feb 7, 2018 My Commission Expires: % � g 2014-04-09 11:08 Walls Fargo Bank, NA 3039373393 >> F.XHTRiT R C� THE KENNETH W. RANSOM /\JTRUST CREATED AUGUST 20, 1991 BY, L us for The Kenneth W. Ransom Trust created August 20, 1991 STATE OF 1 a(1 ) SS. COUNTY OF7�UM( (tn. ) Th`e foregoing instrument wus acknowledged before me this t'1't day of �4k—, 2014, by ac %\� for The Kenneth W. Ransom Trust created August 20, 1991. (SEAL) NESTOR PALMA NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20124085703 MY COMMISSION EXPIRES APRIL 23. W 7 �\eA4v OcAI��_b. NowyPublic —� nn My Commission Expires: EXHIBIT B The Marshall Geer III Declaration of Trust Created October 31, 1991 BY:*Ot '� , s Trustee for The Marshall Geer III Declaration of Trust crear 31,1991. STATE )SS. COUNTY OF The foregoing instrument was a acck/nowled/ged b fo/�r,,� me this day of f c 2014, by �/f (�{%S% /��/% �f s Trustee for The Marshall Geer III Declaration of Trust created October 31, 1991. (SEAL) NANCY ROSALES �' - Notary PLOIic - Arizona t Maricopa County ��% My Comm. Expires Jun 14, 2014 Notary Public My Commission Expires: EXHIBIT B The Geer, Jane Elizabeth e Trust created October 31, 1991 BY I! / as Trustee for the Geer, lane Elizabeth Trust created October 31,6A91. STATE OF a(-/ )SS - COUNTY OF The foregoing instrument was acknowl dged before me this i day of /i 2014, by " as Trustee for The Geer, Jane Elizabeth Trust creed October 31, 1991. (SEAL) /r1 \ NANCY Rc Ari, 7. Notary PLDIic - Arizona Maricopa County My Comm. Expires Jun 14, 2014 oia Public My Commission Expires The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (AE41-8-13) (Mandatory 1-14) 4 THIS FORM HAS IMPORTANTLEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 5 OTHER COUNSEL BEFORE SIGNING. 6 7 AGREEMENT TO AMEND/EXTEND CONTRACT s 9 Date: 7/ ��Z C:r / ` 10 t� I I I. This agreement amends the contract dated 05/29/2014 (Contract), between 12 See Exhibit A (Seller), and Board of County Commissioners of Pitkin County 13 14 15 16 17 18 19 20 21 22 23 24 25 (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Pitkin Colorado:All of Lots 11, 22,and 23 including that portion of Lot 11 which lies WLY of the center line of the Roaring Fork River previously excepted in a correction deed Bk 503 Pg 213 subject to a five ft. square of land in Lot 11 leased to the USA Bank 297 Pg 875-880 Bk 553 Pg 103, all located in S27 T9S R 85W, County if Pitkin, State of Colorado. Approximately 36 acres. known as No. Street Address City State Zip (Property). NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means no change to the corresponding provision of the Contract. If any item is marked in the "Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 2. § 3. DATES AND DEADLINES. [Note: This table may be omitted if inapplicable.] Item No. Reference Event Date or Deadline No Chane Deleted 1 § 4.3 Alternative Earnest Money Deadline See Notes Below Title - - - 2 § 8.1 Record Title Deadline 07(31(2014 3 § 8.2 Record Title Objection Deadline 08114/2014 4 § 8.3 Off -Record Title Deadline 07/31/2014 5 § 8.3 Off -Record Title Objection Deadline 08/14/2014 6 1 § 8.4 Title Resolution Deadline 08/21/2014 7 § 8.6 Right of First Refusal Deadline ✓ Owners' Association 8 § 7.3 Association Documents Deadline ✓ 9 § 7.4 Association Documents Objection Deadline ✓ Seller's Property Disclosure 10 § 10.1 Seller's Property Disclosure Deadline ✓ Loan and Credit ✓ 1 I I § 5.1 Loan Application Deadline ✓ 12 § 5.2 Loan Objection Deadline ✓ 13 § 5.3 Buyer's Credit Information Deadline ✓ 14 § 5.3 Disapproval of Buyer's Credit Information Deadline ✓ 15 § 5.4 Existing Loan Documents Deadline ✓ 16 § 5.4 Existing Loan Documents Objection Deadline ✓ 17 § 5.4 Loan Transfer Approval Deadline - ✓ 18 § 4.7 Seller or Private Financing Deadline ✓ Appraisal --- 19 § 6.2 Appraisal Deadline ✓ 20 § 6.2 Appraisal Objection Deadline ✓ Survey- - - 21 § 9.1 Current Survey Deadline 07/31/2014 22 § 9.2 Current Survey Objection Deadline 08/14/2014 AE41-8-13. AGREEMENT TO AMEND/EXTEND CONTRACT Page 1 of 2 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Item No. Reference Event Date or Deadline No Chane Deleted 23 § 9.3 Current Survey Resolution Deadline 0812112014 Inspection and Due Diligence 24 § 10.2 Inspection Objection Deadline ✓ 25 § 10.3 Inspection Resolution Deadline ✓ 26 § 10.5 Property Insurance Objection Deadline ✓ 27 § 10.6 Due Diligence Documents Delivery Deadline ✓ 28 § 10.6 Due Diligence Documents Objection Deadline ✓ 29 § 10.6 Due Diligence Documents Resolution Deadline ✓ 30 -§ 10.6 Environmental Inspection Objection Deadline CBS2, 3 4 ✓ 31 § 10.6 ADA Evaluation Objection Deadline CBS2 3 4 ✓ 32 § 10.7 Conditional Sale Deadline ✓ 33 § 11.1 Tenant Estoppel Statements Deadline CBS2, 3, 4 ✓ 34 11.2 Tenant Estoppel Statements Objection Deadline CBS2 3 4 ✓ Closing and Possession - 35 § 12.3 Closing Date 08/28/2014 36 § 17 Possession Date 0812812014 37§ 17 Possession Time ✓ 3. Other dates or deadlines set forth in the Contract are changed as follows: RE: Item No. 1 (Alternative Earnest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. 4. Additional amendments: n/a All other terms and conditions of the Contract remain the same. This proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice of such acceptance on or before Date Time Buyer's Name: Board of County Commissioners of Pitkin County. Zz, �Cz,- l Buyer's Signature a Seller's Name: See Exhibit A for name, See Exhibit 8 for signature pages Buyer's Name: 1 Buyer's Signature Date �1 � Wag A . / T Ago02 < t� Seller's Name: �p ,vL�" l w, Seller's Sigr4ke Date Seller's Signature Date ' Clear Form AE41-8-13. AGREEMENT TO AMEND/EXTEND CONTRACT Print+ A Page 2 of 2 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 The printed portions ofthis foam, except differentiated additions, have beta approved by the Colorado Real Estate Commission. (AE41-8-13) (Mandatory 1.14) TIM FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. AGREEMENT TO AMEND/EXTEND CONTRACT Date: June 24. 2014 1. This agreement amends the contract dared 05129/2014 (Contract), between Sae E&&h A (Seller), and Board of County cmmi don a of Mdn cwrdy (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Pitkin Colorado: All of Lots 11, 22,and 23 Including that portion of Lot 11 which lies WLY of the center line of the Roaring Fork RNer previously excepted in a correction deed Bk 503 Pg 213 subject to a five R square of land in Lot 11 leased to the USA Bank 297 Pg 875880 Bk 553 Pg 103, all located in S27 T9S R 85W, County if Pitkin, State of Colorado. ApproArnately 36 acres. known as No. Street Address City Sffitc (Property). NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change^ column, it means no change to the corresponding provision of the Contract If any item is marked in the "Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 2. 5 3. DATES AND DEADLINES. [Note: This table may be omitted if inapplicable.] Item Date or No No. Reference Event dline Chane Deleted ] 4.3 Alternative Earnest Mone Deadline n eaaw f07nt,2014 Title 2 8.1 Record Tale Deadline 3 § 82 Record Title Objection Deadline 08/142014 4 §83 Off -Record Title Deadline Ufsa 014 5 83 off Record Title Objection Deadline oe/t42o1a 6 8.4 Title Resolution Deadline 08212014 7 § 8.6 Right of Fiat Refusal Deadline Owners' Association 'r 8 47.3 Association Documents Deadline 9 7.4 Association Documents Objection Deadline Seller's Property Disclosure'Y;-h•rii;Ci^4r` ZSt]? 3.'M�'. >l".i't:' 10 § 10.1 Seller's Property Disclosure Deadline Loan and Credit 11 § 5.1 Lean Application Deadline 12 § 52 Loan Objection Deadline 13 § 53 Buyer's Credit Information Deadline 14 65.3 Disapprove] of Buyer's Credit Information Deadline 15 5.4 Erd Loan Documents Deadline 16 5.4 DdstiLoan Documents Objection Deadline 17 §5A Loan Transfer Approval Deadline 18 § 4.7 Seller or Private Financing Deadline V( C43#at e ftSv RioffM Appraisal 19 62 Appraisal Deadline 20 6.2 Appraisal Objection Deadline `� Surve - 9G'5"ilai'TAta`k 21 9.1 Current Surve Deadline orrat2wa 22 9.2 Current Sury Objection Deadline 08142014 AE41$13. AGREEalENr TO AMENDIERfEND CO\TRACE Page 1 art JEG 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Item Date or No No. Reference Event Deadline Chan a Deleted 23 F 93 Current Survey Resolution Deadline 0M1=14 'on and Due Dili ence `;k'rff •".i+`,*tx.'.:i_`,. ;I r t#�,�j a 7a 7 ? 24 § 102 Inspection Objection Deadline 25 § 103 Inspection Resolution Deadline 26 § 10.5 PLoErty Insurance Objection Deadline 27 § 10.6 Due Diligence Documents Delivery Deadline ,/ 28 § 10.6 Due Diligence Documents Objection Deadline 29 70.6 Due Diligence Documents Resolution Deadline 30 § 10.6 Environmental Inspection Objection Deadline CBS2 3 4 31 § 10.6 ADA Evaluation Objection Deadline CBS2 3 4 32 § 10.7 Conditional Sale Deadline 33 § 11.1 Tenant Estoppel Statements Deadline CBS2, 3, 4 34 § 112 Tenant Estoppel Statements Objection Deadline CBS2 3, 4 V Closing and Possession 123 Closet Date 08/262014 17 Possession Date MrAW014 E3637 17 Possession Time 3. Other dates or deadlines set forth in the Contract are changed as follows: RE: Item No. 1 (Alternative Earnest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. 4. Additional amendments: n/a All other terms and conditions of the Contract remain the same. 171is proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice of such acceptance on or before . Buyer's Name: Board of County Commissioners of Pdkln County. Buyer's Signature e pate Marshall Geer Il jpseeofor Seller's Name: See Exhihl A M.. see 9 pn �D GeeF Ill trust 1r1/�1/01 Seller's Signature Date Clear Form Date Time Buyer's Name: Buyer's Signature Im Seller's Name: Jane M. Geer Trustee for Jane M Geer Trust 10/31/91 *Ies Signature llatc Print Form AE412-11 AGREEMFNTTOAMEND/EkTENTDCOY7R,1Cf Paget of The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. 3 4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES ANT) THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 5 OTHER COUNSEL BEFORE SIGNING. 8 9 l0 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 AGREEMENT TO AMEND/EXTEND CO TRACT Date:,2-7 4 I. This agreement amends the contract dated 05292014 (Contract), Oween See E#JbhA (Seller), and Board or Courrty Commiseon of Pitkin county (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Pitkin Colorado: All of Lots 11, 22,and 23 including that portion of Lot 11 which lies WLY of the center line of the Roaring Fork River previously excepted in a correction dead Bk 503 Pg 213 subject to a five ft square of land in Lot 11 leased to the USA Bank 297 Pg 875-880 Bk 553 Pg 103, all located in S27 T9S R SSW, County if Pi&in, State of Colorado. Approximately 36 awes. known as Street Address City State (Property). NOTE: If the table is omitted, or if any item is left blank or is marked in the -No Change" column, it means no change to the corresponding provision of the Contract. If any itemis marked In the `Deleted" column, it means that the corresponding provision of the Contract to which reference is made is deleted. 2. § 3. DATES AND DEADLINES. [Note: This table may be omitted if inapplicable.] Item No. Reference Event Date or No Deadline Chane Deleted 1 § 4.3 Alternative Eamest Money Deadline See Notes Seloo, Titlei a''€$uu'•'?[Fi""`"n.�s`1'. "fit as'`(7 2 8.1 Record Title Deadline 07/312014 3 8.2 Record Title Objection Deadline 08114rz014 4 § 8.3 Off -Record Title Deadline 07!312014 5 § 83 Off -Record Title Objection Deadline 08114 014 6 li 8.4 Title Resolution Deadline o9/M12014 7 § 8.6 Right of First Refusal Deadline ✓ Owners' Association 8 7.3 Association Documents Deadline ✓ 9 §74 Association Documents Objection Deadline I I Ive Seller's Property Disclosure 10 § 10.1 Seller's Property Disclosure Deadline ✓ Loan and Credit ✓ 11 § 5.1 Loan Application Deadline ✓ 12 § 5.2 Loan Objection Deadline ✓ 13 §53 Buyer's Credit Information Deadline ✓ 14 § 5.3 Disapproval of Bu er's Credit Information Deadline ✓ IS § 5.4 Existing Loan Documents Deadline ✓ 16 § 5.4 Existing Loan Documents Objection Deadline ✓ 17 § 5.4 Lean Transfer Approval Deadline ✓ 18 § 4.7 Seller or Private Financing Deadline ✓ Appraisal 19 62 Appraisal Deadline ✓ 20 § 6.2 Appraisal Objection Deadline ✓ Survey 21 9.1 Current SurveyDeadline 07/312014 22 92 Current Survey Objection Deadline 08/142014 AE41-8-13. AGREEb1ENT TO AMEND/EXTEND CONTRACT Page 181`2 1� P J 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 Item No. Reference Event Dateor No Deadline Chance Deleted 23 § 9.3 Current Survey Resolution Deadline 08/2112014 Inspection and Due Diligence 24 § 102 Inspection Objection Deadline ✓ 25 § 103 Inspection Resolution Deadline ✓ 26 § 10.5 Property Insurance Objection Deadline ✓ 27 § 10.6 Due Diligence Documents Delivery Deadline ✓ 28 § 10.6 Due Diligence Documents Objection Deadline ✓ 29 § 10.6 Due Diligence Documents Resolution Deadline ✓ 30 § 10.6 Environmental Inspection Objection Deadline CBS2, 3,4 ✓ 31 § 10.6 ADA Evaluation Objection Deadline CBS213, 4 ✓ 32 § 10.7 Conditional Sale Deadline ✓ 33 § 11.1 Tenant Estoppel Statements Deadline CBS2 3, 4 ✓ 34 § 11.2 Tenant Estoppel Statements Objection Deadline CBS2, 3 4 ✓ Closing and Possession ''*e :t•�„�'�`t;-?�r 12.3 Closin Date oaaa,z014 17 Possession Date oar2&=14 E37 17 Possession Time ✓ 3. Other dates or deadlines set forth in the Contract are changed as follows: RE: Item No. 1 (Alternative Earnest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. 4. Additional amendments: n/a All other terms and conditions of the Contract remain the same. This proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party to this document receives notice of such acceptance on or before Date Time Buyer's Name: Board of County Commissioners of PMdn County, Z�� y Buyer's Signature Date Seller's Name: See edub'f. A for mmn,e. See ExNbil B Wr signabce page. Buyer's Name: Buyer's Signature L M. Seller's Name: Seller's Signature Date Seller's Signature Data l Clear Form Print Form AE414-13. AGPEEMENrToA,NEND/ExTENDCONTRACT Page2of2 RECEPTION#: 613070, 09/03/2014 at 10:46:22 AM, 1 OF 5, R $0.00 OF $0.00 Janice K. Vos Caudill, Pitkin County, CO POWER OF ATTORNEY (REAL ESTATE) IMPORTANT INFORMATION This power of attorney authorizes another person (your agent) to make decisions for you (the principal) and to act on your behalf conceming your real property. You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to act for you. Your agent is entitled to reasonable compensation unless you state otherwise in the special instructions. This power of attorney does not authorize the agent to make health care decisions for you. If you have questions about this power or attorney or the authority you are granting to your agent, you should seek legal advice before signing this form. DESIGNATION OF AGENT t, Marshall Ge r, Trustee of the Marshall Geer III Declaration of Trust dated October 31, 1991, the Principal, name the following person as my agent: Name of agent: Thomas A. Moore Agent's address: 1309 Mclain Flats Rd, Woody Creek, Colorado 81565 Agent's telephone number. (970) 925-2889 GRANT OF AUTHORITY 1 grant my agent the authority to act as my ime and lawful agent and in my name, place, and stead for my sole use and benefit to grant, bargain, sell, convey, purchase, encumber, or contract for the sale or purchase of my interest in the following described real estate situate in the County of Pitkin, State of Colorado: SEE EXHIBIT A My agent is authorized and empowered to collect such monies as may become due from the sale, and to make, execute, acknowledge and deliver contracts for sale, deeds, Deeds of Trust, and other instruments in writing of every kind and nature, including, but not limited to, the sale and loan closing documents and statements, upon such terms and conditions as my agent may deem necessary and convenient to accomplish such sale or conveyance of this real estate. My RECEPTION#: 613070, 09/03/2014 at 10:46:22 AM, 2 OF 5, Janice K. Vos Caudill, Pitkin County, CO agent shall have full power and authorily to do and perform all acts necessary to be done to complete a sale or conveyance of this real estate, as fully as I might do if personally present. LIMITATION ON AGENT'S AUTHORITY An agent that is not my ancestor, spouse, or descendant MAY NOT use my real property to benefit the agent or a person to whom the agent owes an obligation of support. SPECIAL INSTRUCTIONS You may give special instructions on the following lines: A EFFECTIVE DATE AND TERMINATION INSTRUCTIONS. Choose the effective date of this power of attorney by initialing either (A) or (B). If neither is initialed, this power of attorney will be effective immediately. Initial (C) if you would like this power of attorney to automatically expire upon completion r f its purpose, without any action on your part. RG 4 (A)This power of attorney is effective immediately and is not affected by my subsequent incapacity. (B) This power of anomey becomes effective upon my subsequent incapacity. (C)This power of attorney shall automatically expire by the earlier of its own terns upon completion of the limited purpose set forth herein or June 30, 2015. RELIANCE ON THIS POWER OF ATTORNEY 1, with full power of revocation, ratify and confirm all that my agent shall lawfully do or cause to be done by virtue of this Power of Attorney and the powers contained herein. Anv person, including my agent, may rely upon the validity of this power of attorney ora copy of it unless that person knows it has terminated or is invalid. r�2 RECEPTION#: 613070, 09/03/2014 at 10:46:22 AM, 3 OF 5, Janice K. Vos Caudill, Pitkin County, CO SIGNATURE AND ACKNOWLEDGMENT Date Signa[ e Marshall Geer, Trustee of the Marshall Geer III Declaration of Trust dated October 31, 1991, Principal Add A) /.[v U / 4 A Telephone number: (DOS _A, This document was acknowledged before me on2014 by Marshall r, Trustee of the Marshall Geer III Declaration o Tr ut dared October 31, 1991, the Principal wSiga� (Seal, if anc)r ofnotaryMycommissionexp PW 3 RECEPTION#: 613070, 09/03/2014 at 10:46:22 AM, 4 OF 5, Janice K. Vos Caudill, Pitkin County, CO EXI MIT A A PARCEL OF LAND SITUATED IN THE SWI/AINWI/4 OF SECTION 27. TOWNSHIP 9 SOUTH, RANGE 85 WEST OF THE 6TH PRINCIPAL MERIDIAN. COUNTY OF PITION, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS BEGINNING AT THE NORTH SIXTEENTH CORNER OF SECTIONS 27 AND 28, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE N89'3i38'E ALONG THE NORTHERLY UNE OF THE SWI/4NWI/4 OF SAID SECTION 27 A DISTANCE OF 1322.61 FEET TD THE NORTHWEST SIXTEENTH CORNER OF SAID SECTION 27, A 3-1/4' ALUMINUM CAP STAMPED LS19590 IN PLACE; THENCE SDI D4'48'E ALONG THE EASTERLY UNE OF SAID SWI/4NW1/4 A DISTANCE OF 1333.55 FEET TO THE CENTER -WEST SIXTEENTH CORNER OF SAID SECTION 27, A 3 -1/4 - ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE S8918'56'W ALONG THE SOUTHERLY UNE OF SAID SWI/4NW1/4 A DISTANCE OF 36.58 FEET TO A POINT ON THE EASTERLY UNE OF MINERAL SURVEY NO. 6832, THE VAN CLEAVE PLACER: THENCE LEAVING SAID SOUTHERLY UNE ALONG THE EASTERLY UNE OF SAID MINERAL SURVEY NO. 6832. N445Y09'W A DISTANCE OF 709.54 FEET TO CORNER NO. 19 OF SAID MINERAL SURVEY NO. 6832, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PUCE; THENCE LEAVING SAID EASTERLY LINE ALONG THE NORTHERLY UNE OF SAID MINERAL SURVEY NO. 6832, 54521.47-W A DISTANCE OF 732.05 FEET TO A POINT ON THE AFOREMENTIONED SOUTHERLY UNE OF SAID SWI/4NW1/4; THENCE LEAVING THE NORTHERLY UNE OF SAID MINERAL SURVEY NO. 6832 ALONG THE SOUTHERLY UNE OF SAID SWI/4NWI/4, S89'18'56'W A DISTANCE OF 184.75 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF COLORADO STATE HIGHWAY NO. 82; THENCE LEAVING SAID SOUTHERLY LINE ALONG THE EASTERLY UNE OF SAID COLORADO STATE HIGHWAY NO. 82, N26V2'20'W A DISTANCE OF 87.25 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N28'O6'21'W A DISTANCE OF 79.38 FEET: THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N3350'09'W A DISTANCE OF 17,41 FEET TO A POINT ON THE WESTERLY UNE OF THE SWI/4NW1/4 OF SAID SECTION 27; .THENCE LEAVING THE EASTERLY RIGHT-OF-WAY OF SAID COLORADO STATE HIGHWAY NO. 82 ALONG THE WESTERLY UNE OF SAID SWI/4NW1/4 OF SECTION 27. N005457'W A DISTANCE OF 1176.8.5 FEET TO THE POINT OF BEGINNING. SAID PARCEL OF LAND CONTAINING 34.532 ACRES MORE OR LESS. RECEPTION#: 613070, 09/03/2014 at 10:46:22 AM, 5 OF 5, Janice K. Vos Caudill, Pitkin County, CO AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT'S AUTHORITY State of CC>L-� Sin a Countyof Ti7-V-ctJ 1, Thomas A. Moore, Agent, certify under penalty of perjury that Marshall Geer, Trustee of the Marshall Geer III Declaration of Trust dazed October 31, 1991, the Principal, granted me authority as an agent or successor agent in a power of attorney dated IV" 12 12014. I further certify that to my knowledge: (1) The principal is alive and has not revoked the power of attorney or my authority to act under the power of attorney and the power of attorney and my authority to act under the power of attorney have not terminated; (2) If the power of attorney was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred; (3) If I was named as a successor agent, the prior agent is no longer able or willing to serve; and (4) (Insert other relevant statements) SIGNATURE AND ACKNOWLEDGMENT Date t Agent's signature Thomas A. Moore 1309 Mclain Flats Rd. Woody Creek, Colorado 81565 (970) 925-2889 This document was acknowledged before me on 17 , 2014 by Thomas A. Moore, Agent. (Seal, if an SUSAN CAPIEE Sign rare of notary �ionNe My co fisM Irof RE 7.2010 P.,4 RECEPTION#: 613069, 09/03/2014 at 10:46:21 AM, 1 OF 5,. R $0.00 DF $0.00 Janice K. Vos Caudill, Pitkin County, CO POWER OF ATTORNEY (REAL ESTATE) IMPORTANT INFORMATION This power of attorney authorizes another person (your agent) to make decisions for you (the principal) and to act on your behalf concerning your real property. You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to net for you. Your agent is entitled to reasonable compensation unless you state otherwise in the special instructions. This power of attomey does not authorize the agent to make health care decisions for you. If you have questions about this power of attorney or the authority you are granting to your agent, you should seek legal advice before signing this form. DESIGNATION OF AGENT I, Carolyn W. Moore, the Principal, name the following person as my agent: Name of agent: Thomas A. Moore Agent's address: 1309 Mclain Flats Rd., Woody Creek, Colorado 81565 Agent's telephone number: (970) 925-2889 GRANT OF AUTHORITY 1 grant my agent the authority to act as my true and lawful agent and in my name, place, and stead for my sole use and benefit to grant, bargain, sell, convey, purchase, encumber, or contract for the sale or purchase of my interest in the following described real estate situate in the County of Pitkin, State of Colorado: SEE EXHIBIT A My agent is authorized and empowered to collect such monies as may become due from the sale, and to make, execute, acknowledge and deliver contracts for sale, deeds, Deeds of Trust, and other instruments in writing of every kind and nature, including, but not limited to, the sale and loan closing documents and statements, upon such terms and conditions as my agent may deem necessary and convenient to accomplish such sale or conveyance of this real estate. My P.e, t RECEPTION#: 613069, 09/03/2014 at 10:46:21 AM, 2 OF 5, Janice K. Vos Caudill, Pitkin County, CO agent shall have full power and authority to do and perform all acts necessary to be done to complete a sale or conveyance of this real estate, as fully as 1 might do if personally present. LIMITATION ON AGENT'S AUTHORITY An agent that is not my ancestor, spouse, or descendant MAY NOT use my real property to benefit the agent or a person to whom the agent owes an obligation of support. SPECIAL INSTRUCTIONS You may give special instructions on the following lines: EFFECTIVE DATE AND TERMINATION INSTRUCTIONS.' Choose the effective dale of this power of attorney by initialing either (A) or (B). If neither is initialed, this power of attorney will be effective immediately. Initial (C) if you would like this power of attorney to automatically expire upon completion of its purpose, without any action on your part. (A)This power of attorney is effective immediately and is not affected by my subsequent incapacity. (B) This power of attorney becomes effective upon my subsequent incapacity. _ (C)This power of attorney shall automatically expire by the earlier of its own terms upon completion of the limited purpose set forth herein or June 30, 2015. RELIANCE ON THIS POWER OF ATTORNEY I, with full power of revocation, ratify and confirm all that my agent shall lawfully do or cause to he done by virtue of this Power of Attorney and the powers contained herein. Any person, including my agent, may rely upon the validity of this power of attorney or a copy of it unless that person knows it has terminated or is invalid. RECEPTION#: 613069, 09/03/2014 at 10:46:21 AM, 3 OF 5, Janice K. Vos Caudill, Pitkin County, CO SIGNATURE AND ACKNOWLEDGMENT Date—fir Signature Carolyn W. Moore. Principal 1309 Mclain Flats Rd. Woody Creek, Colorado 81565 (970) 925-2889 State of , �7a� _ County of i.aLkah This document was acknowledged before me on f , 2014 by Carolyn W. Moore, Principal (Seal, if any) _ Sig azure of notary My 018:go Pyre J RECEPTION#: 613069, 09/03/2014 at 10:46:21 AM, 4 OF 5, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT A A PARCEL OF LAND SITUATED IN THE SWI/4NW1/4 OF SECTION 27, TOWNSHIP 9 SOUTH, RANGE 85 WEST OF THE 67H PRINCIPAL MERIDIAN, COUNTY OF PITKIN, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTH SIXTEENTH CORNER OF SECTIONS 27 AND 28, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE N89'3738'E ALONG THE NORTHERLY UNE OF THE SWI/4NW1/4 OF SAID SECTION 27 A DISTANCE OF 1322.61 FEET TO THE NORTHWEST SIXTEENTH CORNER OF SAID SECTION 27, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE SGi94'48'E ALONG THE EASTERLY UNE OF SAID SWI/4NWI/4 A DISTANCE OF 133155 FEET TO THE CENTER -WEST SIXTEENTH CORNER OF SAID SEC710N 27, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE: THENCE 58998'56'W ALONG THE SOUTHERLY UNE OF SAID SWI/4NW1/4 A DISTANCE OF 36.58 FEET TO A POINT ON THE EASTERLY LINE OF MINERAL SURVEY NO. 6832, THE VAN CLEAVE PLACER; THENCE LEAVING SAID SOUTHERLY UNE ALONG THE EASTERLY LINE OF SAID MINERAL SURVEY NO. 6832. N44'57'09'W A DISTANCE OF 709.54 FELT TO CORNER NO. 19 OF SAID MINERAL SURVEY NO. 6832. A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE LEAVING SAID EASTERLY LINE ALONG THE NORTHERLY LINE OF SAID MINERAL SURVEY NO. 6832, S45'21'47'W A DISTANCE OF 732.05 FEET TO A POINT ON THE AFOREMENTIONED SOUTHERLY LINE OF SAID SWI/4NWi/4; THENCE LEAVING THE NORTHERLY UNE OF SAID MINERAL SURVEY NO. 6832 ALONG THE SOUTHERLY LINE OF SAID SWI/4NWI/4, S89'18'56'W A DISTANCE OF 184.75 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF COLORADO STATE HIGHWAY NO. 8Y THENCE LEAVING .SAID SOUTHERLY UNE ALONG THE EASTERLY LINE OF SAID COLORADO STATE HIGHWAY NO. 8$ N26 -02.20-W A DISTANCE OF 87.25 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N28'06'21'W A DISTANCE OF 79.38 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N3350'09'W A DISTANCE OF 17.41 FEET TO A POINT ON THE WESTERLY UNE OF THE SWI/4NWI/4 OF SAID SECTION 27; .THENCE LEAVING THE EASTERLY RIGHT-OF-WAY OF SAN COLORADO STATE HIGHWAY NO. 82 ALONG THE WESTERLY UNE OF SAN SWI/4NWI/4 OF SECTION 27, N0054 -57-W A DISTANCE OF 1176.85 FEET TO THE POINT OF BEGINNING, SAID PARCEL OF LAND CONTAINING 34.532 ACRES MORE OR LESS. RECEPTION#: 613069, 09/03/2014 at 10:46:21 AM, 5 OF 5, Janice K. Vos Caudill, Pitkin County, CO AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT'S AUTHORITY state of Cc7LORaT>C7 County of —%�rn41 ws I, Thomas A. Moore, Agent, certify under penalty of perjury that Carolyn W. Moore, Principal, granted me authority as an agent or successor agent in a power of attorney dated 2014. 1 further certify that to my knowledge: (1) The principal is alive and has not revoked the power of attorney or my authority to act under the power of attorney and the power of attorney and my authority to act under the power of attorney have not terminated; (2) If the power of attorney was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred; (3) If I was named as a successor agent, the prior agent is no longer able or willing to serve; and (4) (Insert other relevant statements) SIGNATURE AND ACKNOWLEDGMENT but 4, ze,j4 Date Agent's signature -- Thomas A. Moore 1309 Mclain Flats Rd. Woody Creek, Colorado 81565 (970) 925-2889 This document was acknowledged before me on � . 2014 by Thomas A. Moore, Agent ' Q (Seat if SUSAN CAPIEL y commiM stat�J't9lf9HE Notary10 2014100.179 M CammNfbn B Iron R! 7, 2018 Signa re of notary Pge4 RECEPTION#: 613071, 09/03/2014 at 10:46:23 AM, 1 OF 5, R $0.00 DF $0.00 Janice K. Vos Caudill, Pitkin County, CO n O T POWER OF ATTORNEY (REAL ESTATE) IMPORTANT INFORMATION This power of attorney authorizes another person (your agent) to make decisions for you (the principal) and to act on your behalf concerning your real property. You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to act for yon Your agent is entitled to reasonable compensation unless you state otherwise in the special instructions. This power of attorney does not authorize the agent to make health care decisions for you. IIf you have questions about this power of attorney or the authority you art I granting to your agent, you should seek legal advice before signing this form. DESIGNATION OF AGENT V � 1, Jane Elizabeth Geer, Trustce of the Geer, Jane Elizabeth Trust created October 31, 1991, the Principal, time the following person as my agent: Name of agent: Thomas A. Moore Agent's address: 1309 Mclain Flats Rd.. Woody Creek. Colorado 81565 Agent's telephone number: GRANT OF AUTHORITY I grant my agent the authority to act as my true and lawful agent and in my name, place, and stead for my sole use and benefit to grant, bargain, sell, convey, purchase, encumber, or contract for the sale or purchase of my interest in the following described real estate situate in the County of Pitkin, State of Colorado: SEE EXHIBIT A My agent is authorized and empowered to collect such monies as may become due from the sale, and to make, execute, acknowledge and dclicer contracts for sale, deeds. Deeds of Trust, and other instruments in writing of every kind and nature, including, but not limited to, the sale and loan closing documents and statements, upon such terms and conditions as my agent may deem necessary and convenient to accomplish such sale or conveyance of this real estate. My rs] RECEPTION#: 613071, 09/03/2014 at 10:46:23 AM, 2 OF 5, Janice K. Vos Caudill, Pitkin County, CO agent shall have full power and authority to do and perform all acts necessary to be done to complete a sale or conveyance of this real estate, as fully as I might do if personally present. LIMITATION ON AGENT'S AUTHORITY An agent that is not my ancestor, spouse, or descendant MAY NOT use my real property to benefit the agent or a person to whom the agent owes an obligation of support. SPECIAL INSTRUCTIONS You may give special instructions on the following lines: EFFECTIVE DATE AND TERMINATION � e IMVWICTIONS: Choose the effective date of this power of attorney by initiating either (A) or (B). If neither is initialed, this power of aoornev will be effective immediately. Initial (C) if you would like this power of attorney to automadcally expire upon completion of its purpose, without any action on your pan. (A)This power of attorney is effective immediately and is not affected by my subsequent incapacity. (B)This power of anomey becomes effective upon my subsequent incapacity. (C)This power of attorney shall automatically expire by the earlier of its own terms upon completion of the limited purpose set forth herein or Jane 30, 2015. RELIANCE ON THIS POWER OF ATTORNEY 1, with full power of revocation, ratify and confirm all that my agent shall lawfully do or cause to be done by virtue of this Power of Attorney and the powers contained herein. Any person, including my agent, may rely upon the validity of this power of atlomey or a copy of it unless that person knows it has terminated or is invalid. Pg RECEPTION#: 613071, 09/03/2014 at 10:46:23 AM, 3 OF 5, Janice K. Vos Caudill, Pitkin County, CO SIGNATURE AND ACKNOWLEDGMENT J' '�O/v Q4 -,-Z- %401 ' Date Si ature Jane Elizabeth Geer, Trustee of the Geer, Jane Elizabeth Trust created October 31, 1 ^991, Principal Address: I f c% 6 J N 4 3 Ad DPI 1) e C,Z-6A) PAL -F /}R17-0nA g '3061 Telephone number: b bot 71 This document was acknowledged before me on. 2014 by lane Elizabeth Geer, Trustee of the Geer, Jane Eh,eTj created October 31, 1991, the Principal (Seal, if any)EMY W aERAM pW j4, 2018 Si � of notary My commission expires: Pg 3 RECEPTION#: 613071, 09/03/2014 at 10:46:23 AM, 4 OF 5, Janice K. Vos Caudill, Pitkin County, CO Ex"IT A A PARCEL OF LAND SITUATED IN THE SWI/4NWI/4 OF SECTION 27, TOWNSHIP 9 SOUTH. RANGE 85 WEST OF THE 6TH PRINCIPAL MERIDIAN. COUNTY OF PIT10N. STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORM SIXTEENTH CORNER OF SECTIONS 27 AND 28. A 3-1/4" ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE N89'3i38'E ALONG THE NORTHERLY UNE OF THE SWI/4NW1/4 OF SAID SECTION 27 A DISTANCE OF 1322.61 FEET TO THE NORTHWEST SIXTEENTH CORNER OF SAID SECTION 27, A 3-1/4' ALUMINUM CAPSTAMPEDLS19598 IN PLACE; THENCE SOi44'48-E ALONG THE EASTERLY UNE OF SAID SWI/4NW1/4 A DISTANCE OF 1333.55 FEET TO THE CENTER -WEST SIXTEENTH CORNER OF SAID SECTION 27, A 3 -1/4 - ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE S8918 -56-W ALONG THE SOUTHERLY UNE OF SAID SWI/4NWI/4 A DISTANCE OF 36.58 FEET TO A POINT ON THE EASTERLY LINE OF MINERAL SURVEY NO. 69.32, THE VAN CLEAVE PLACER; THENCE LEAVING SAID SOUTHERLY UNE ALONG THE EASTERLY UNE OF SAID MINERAL SURVEY NO. 5832, N4457.09 -W A DISTANCE OF 709.54 FEET TO CORNER NO. 19 OF SAID MINERAL SURVEY N0. 6832, A 3-1/4' ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE LEAVING SAID EASTERLY UNE ALONG THE NORTHERLY UNE OF SAID MINERAL SURVEY NO. 6832, S45'21'47'W A DISTANCE OF 732.05 FEET TO A PONT ON THE AFOREMENTIONED SOUTHERLY LINE OF SAID SWI/4NWI/4; THENCE LEAVING THE NORTHERLY UNE OF SAID MINERAL SURVEY NO. 6832 ALONG THE SOUTHERLY UNE OF SAID SWI/4NWI/4, S89'Ie56'W A DISTANCE OF 184.75 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF COLORADO STATE HIGHWAY NO. 82; THENCE LEAVING SAID SOUTHERLY UNE ALONG THE EASTERLY UNE OF SAID COLORADO STATE HIGHWAY NO. 82, N26102'20'W A DISTANCE OF 87.25 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N28"06'21'W A DISTANCE OF 79.38 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N33'50'09'W A DISTANCE OF 17.41 FEET TO A PONT ON THE WESTERLY UNE OF THE SWI/4NWI/4 OF SAID SECTION 27; .THENCE LEAVING THE EASTERLY RIGHT-OF-WAY OF SAID COLORADO STATE HIGHWAY NO. 82 ALONG THE WESTERLY UNE OF SAID SWI/4NW1/4 OF SECTION 27, ND054.57 W A DISTANCE OF 1176.85 FEET TO THE PONT OF BEGINNING SAID PARCEL OF LAND CONTAINING 34.532 ACRES MORE OR LESS. e RECEPTION#: 613071, 09/03/2014 at 10:46:23 AM, 5 OF 5, Janice K. Vos Caudill, Pitkin County, CO AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT'S AUTHORITY Stateof CLN L\fly County of \ =\L t �y 1, 'Thomas A. Moore, Agent. certify under penalty of perjury that Jane Elizabeth Geer, Trustee of the Geer, lane FJizabeth Trust created October 31, 1991, the Principal, granted me authority as an agent or successor agent in a power of attorney dated -\Nsl V4 1 L . 2014. I further certify that to my knowledge: (1) The principal is alive and has not revoked the power of attorney or my authority to act under the power of attorney and the power of attorney and my authority to act under the power of adomey have not terminated; (2) If the power of attomey was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred; (3) If I was named as a successor agent, the prior agent is no longer able or willing to serve; and (4) (Insert other relevant statements) SIGNATURE AND ACICVOWLEDGMENT Date r Agent's signature Thomas A. Monte 1309 Mclain Flats Rd Woody Creek, Colorado 81565 (970) 925-2889 This document was acknowledged before me on 2014 by Thomas A. Moore, Agent - (Seal, if any) Si store of notary My commission expires. PW 4 RECEPTIONII: 613072, 09/03/2014 at 10:46:24 AM, 1 OF 4, R $0.00 DF $0.00 Janice K. Vos Caudill, Pitkin County, CO Documentary Fee $ EXEMPT WARRANTY DEED THIS DEED, made August 28, 2014, Between THOMAS A. MOORE, CAROLYN WHITE MOORE, KENNETH W. RANSOM, AS TRUSTEE OF THE KENNETH W. RANSOM TRUST, UNDER AGREEMENT DATED AUGUST 20, 1991, JANE ELIZABETH GEER DECLARATION OF TRUST, DATED, 10/31/91, THE MARSHAL GEER III DECLARATION OF TRUST, DATED, 10/31/91 of the County of T, + k, , State of Co Io rncip , GRANTOR, AND THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO, GRANTEE whose legal address is:Ir OTrcc i Tru,�1 J30 �.%%2a,n 51. :S"I Fl— of the County of PITKIN; State of COLORADO jQ-5.�2n v L l l WITNESSETH, That for and in consideration of the sum of ONE MILLION ONE HUNDRED FIFTY THOUSAND, (81,150,000.00) , the receipt and sufficiency of which is hereby acknowledged, the grantor has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey and confirm unto the grantee, ITS heirs and assigns forever, all the real property together with improvements, if any, situate and lying and being in the County of PITKIN, State of COLORADO, described as follows: See Attached Exhibit "A" TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the grantor either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the grantee, ITS heirs and assigns forever. And the Grantor, for THEMSELVES. THEIR heirs and assigns, does covenant, grant, bargain, and agree to and with the Grantee, ITS heirs and assigns, that at the time of the ensealing and delivery of these presents, THEY are well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature soever, except those matters as set forth on Exhibit "B' attached hereto and incorporated herein by reference. The grantor shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the grantee, ITS heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singular number shall include the plural, the plural the singular, and the use of gender shall be applicable to all genders. IN WITNESS WHEREOF the grantor has executed this deed. SIGNATURES ON PAGE 2 RECEPTION#: 613072, 09/03/2014 at 10:46:24 AM, 2 OF 4, Janice K. Vos Caudill, Pitkin County, CO SIGNATURE PAGE TO WARRANTY DEED PAGE 2 THOMASA.MOORE t�y-tj\_—( w("N'U 1-a r TC *kC0ar'_ ray I •sg- /�r.,,I -I- CAROLYN WHITE MOORE BY THOMAS A. MOORE AS ATTORNEY IN FACT KENNETH W. RANSOM, AS TRUSTEE OF THE KENNETH W. RANSOM TRU AGREEMENT DATED AUGUST 20,1991 BY THOMAS A. MOORE, AS ATTORNEY JANE ELIZABETH GEER, AS TRUSTEE OF THE JANE ELIZABETH GEER DECLARATION OF TRUST, DATED, 10/31/91 BY THOMAS A. MOORE, AS ATTORNEY IN FACT MARSHALL GEER AS TRUSTEE OF THE MARSHALL GEER III DECLARATION OF TRUST, DATED, 10/31/91 BY THOMAS A. MOORE AS ATTORNEY IN FACT STATE OF ss COUNTY OF The `59 regoing instrument was subscribed and sworn to before me this d,Y day of 57" , 2014 by:THOMAS A. MOORE, INDIVIDUALLY, AND AS ATTORNEY IN FACT FOR CAROLYN WHITE MOORS, THOMAS A MOORE AS ATTORNEY IN FACT FOR THOMAS W. RANSOM, AS TRUSTEE OF THE KENNETH W RANSOM TRUST UNDER AGREEMENT DATED AUGUST 20, 1991, THOMAS A. MOORE AS ATTORNEY IN FACT FOR JANE ELIZABETH GEER, AS TRUSTEE OF THE JANE ELIZABETH GEER DECLARATION OF TRUST, DATED 10/31/91. AND THOMAS A. MOORE AS ATTORNEY IN FACT FOR MARSHALL GEER, TRUSTEE OF THE MARSHALL GEER III DECLARATION OF TRUST, DATED 10/31/91. WITNESS my hand and official seal my commission expires: Notary Public 15 Z '64 _.5?INA Oe. PCT24103W4 Q _.XOTAR6 PUBOCI _o RECEPTION#: 613072, 09/03/2014 at 10:46:24 AM, 3 OF 4, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT "A" LEGAL DESCRIPTION A PARCEL OF LAND BEING LOT 11 OF SECTION 27, TOWNSHIP 9 SOUTH, RANGE 85 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF PITKIN, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTH SIXTEENTH CORNER OF SECTIONS 27 AND 28, A 3-1/4" ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE N89'3T38"E ALONG THE NORTHERLY LINE OF THE SW1/4NW 1/4 OF SAID SECTION 27 A DISTANCE OF 1322.61 FEET TO THE NORTHWEST SIXTEENTH CORNER OF SAID SECTION 27, A 3-1/4" ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE S01'04'48"E ALONG THE EASTERLY LINE OF SAID SW1/4NW 1/4 A DISTANCE OF 1333.55 FEET TO THE CENTER -WEST SIXTEENTH CORNER OF SAID SECTION 27, A 3-1/4" ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE S89°18'56"W ALONG THE SOUTHERLY LINE OF SAID SWI/4NW 1/4 A DISTANCE OF 36.58 FEET TO A POINT ON THE EASTERLY LINE OF MINERAL SURVEY NO. 6832, THE VAN CLEAVE PLACER; THENCE LEAVING SAID SOUTHERLY LINE ALONG THE EASTERLY LINE OF SAID MINERAL SURVEY NO. 6832, N44°57'09"W A DISTANCE OF 709.54 FEET TO CORNER NO. 19 OF SAID MINERAL SURVEY NO. 6832, A 3-1/4" ALUMINUM CAP STAMPED LS19598 IN PLACE; THENCE LEAVING SAID EASTERLY LINE ALONG THE NORTHERLY LINE OF SAID MINERAL SURVEY NO. 6832, 945°21'47'YV A DISTANCE OF 732.05 FEET TO A POINT ON THE AFOREMENTIONED SOUTHERLY LINE OF SAID SW1/4NW1/4; THENCE LEAVING THE NORTHERLY LINE OF SAID MINERAL SURVEY NO. 6832 ALONG THE SOUTHERLY LINE OF SAID SW1/4NW1/4, S89°18'56"W A DISTANCE OF 184.75 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF COLORADO STATE HIGHWAY NO. 82; THENCE LEAVING SAID SOUTHERLY LINE ALONG THE EASTERLY LINE OF SAID COLORADO STATE HIGHWAY NO. 82, N26°02'20'W A DISTANCE OF 87.25 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N28°06'21"W A DISTANCE OF 79.38 FEET; THENCE CONTINUING ALONG SAID EASTERLY RIGHT-OF-WAY N33°50'09"W A DISTANCE OF 17.41 FEET TO A POINT ON THE WESTERLY LINE OF THE SW1/4NW1/4 OF SAID SECTION 27; THENCE LEAVING THE EASTERLY RIGHT-OF-WAY OF SAID COLORADO STATE HIGHWAY NO. 82 ALONG THE WESTERLY LINE OF SAID SW1/4NW1/4 OF SECTION 27, N00°54'57"W A DISTANCE OF 1176.85 FEET TO THE POINT OF BEGINNING. RECEPTION#: 613072, 09/03/2014 at 10:46:24 AM, 4 OF 4, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT "B" 1. Taxes for the year 2014, and subsequent years not yet due or payable. 2. Right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted and right of way for ditches or canals constructed by the authority of the United States as reserved in United States Patent recorded July 3, 1905 in Book 175 at Page 518. 3. Terms, conditions, provisions and obligations as set forth in Easement recorded December 13, 1963 in Book 205 at Page 187. 4. Terms, conditions, provisions and obligations as set forth in Easement recorded August 20, 1975 in Book 301 at Page 912. 5. Terms, conditions, provisions and obligations as set forth in Fishing Easement recorded December 5, 1989 in Book 609 at Page 44. 6. Easements, rights of way and all matters as disclosed on Survey of subject property recorded July 16, 2014 in Plat Book 107 at Page 59. RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 1 OF 35, R $0.00 Janice K. Vos Caudill, Pitkin County, CO AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO AUTHORIZING ACQUISITION OF THE MOORE RIVER PARCEL ORDINANCE 9611. SERIES OF 2014 RECITALS 1. The Voters of Pitkin County and the Pitkin County Commissioners established an Open Space and Trails Fund for the purposes of preserving and providing open space and trails resources, and established an Open Space and Tmils Board of Trustees to guide the expenditure of those funds. 2. The Open Space and Trails Program is charged with protecting agriculture, open space, habitat, scenic view planes, water rights and river access. 3. The Moore River Parcel (the "Property') includes significant western slope sage shntbland habitat and a critical reach of the Roaring Fork Gorge that is surrounded by County Open Space. 4. The Property is traversed by the Rio Grande Trail and was identified in the Rio Grande Gorge Management Plan as having high value for other recreational uses. 5. The OSTB has recommended this purchase. NOW THEREFORE BE IT ORDAINED by the Board of County Commissioners of Pitkin County, Colorado, that: I. The Board approves an expenditure of $1,150,000 for the Moore River Parcel property of approximately 36.61 acres and transaction costs up to $10,000. 2. Upon approval of the form by the Open Space Director and County Attorney, the Chair is authorized to execute the contract. 3. Upon approval of the forth by the Open Space Director and County Attorney, the Chair is authorized to execute other documents needed to consummate this transaction. 4. That adjustments he made to the year 2014 budget as follows: RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 2 OF 35, Janice K. Vos Caudill, Pitkin County, CO OPEN SPACE AND TRAILS FUND Total Expenditure $0 $1,160,000 $1,160,000 INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 14th DAY OF MAY, 2014. NOTICE OF PUBLIC HEARING AND TITLE AND SHORT SUMMARY OF THE ORDINANCE PUBLISHED IN THE ASPEN TIMES WEEKLY ON 2014. NOTICE OF PUBLIC HEARING AND THE FULL TEXT OF THE ORDINANCE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE ( www.aspcnpi(kin.com ) ON THE DAY OFn'52o14. ADOPTED AFTER y�� FINAL READING AND PUBLIC HEARING ON THE 61 ' DAY OF U 2014. PUBLISHED BY TITLE AND SHORT SUMMARY, AFTER ADOPTION, IN THE ASPEN TIMES WEEKLY ON THE 5—DAY OFYJI t 2014. POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE (w waspenpitkin.com ) ON THE DAY OF 2014. JEST: Jeaqfne Jones Deofity Clerk BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO �IfC'�-. Robert A. Inner Jr. Chair Datc: 74 41// Previous Revised Budeet This Change Project Budect Moore River Parcel Property Acuuisition Acquisition Cost $0 $1,150,000 $1,150,000 Estimated Transaction Costs $0 $ 10,000 $ 10,000 Total Expenditure $0 $1,160,000 $1,160,000 INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 14th DAY OF MAY, 2014. NOTICE OF PUBLIC HEARING AND TITLE AND SHORT SUMMARY OF THE ORDINANCE PUBLISHED IN THE ASPEN TIMES WEEKLY ON 2014. NOTICE OF PUBLIC HEARING AND THE FULL TEXT OF THE ORDINANCE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE ( www.aspcnpi(kin.com ) ON THE DAY OFn'52o14. ADOPTED AFTER y�� FINAL READING AND PUBLIC HEARING ON THE 61 ' DAY OF U 2014. PUBLISHED BY TITLE AND SHORT SUMMARY, AFTER ADOPTION, IN THE ASPEN TIMES WEEKLY ON THE 5—DAY OFYJI t 2014. POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE POSTED ON THE OFFICIAL PITKIN COUNTY WEBSITE (w waspenpitkin.com ) ON THE DAY OF 2014. JEST: Jeaqfne Jones Deofity Clerk BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO �IfC'�-. Robert A. Inner Jr. Chair Datc: 74 41// RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 3 OF 35, Janice K. Vos Caudill, Pitkin County, CO APPROVED AS TO FORM: Open Space and Trails Program Ordinance :-:/9 -2014 on Peacock County Manager RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 4 OF 35, Janice K. Vos Caudill, Pitkin County, CO The printed portions ofthis forth, except differentiated additiom, have been approved by the Colorado Read Estate Commission. (CDS44-13)(MaMme, 1.14) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) (© Property with No Residences) (E] Property with Residences -Residential Addendum Attached) p Date: �Y 29. 2014 14 AGREEMENT 15 1. AGREEMENT. Buyer, identified in §2.1, agrees to buy, and Seller, identified in §2-3, agrees to sell, the Property 16 described below on the teens and conditions set forth in this contract (Contract). _ 17 2. PARTIES AND PROPERTY. Is 2.1. Buyer. Buy", Board at Wumy Commisskmers of Pitkin eouary will take title to the Properly 19 described below as ❑Joint Tenants ❑ Tenants to Common ❑Other 20 2.2. Assignability and Inurement. This Contract © Is ❑ Is Not assignable by Buyer without Scller's prior written 21 consent. Except az so restricted, this Contract inures to the benefit of and is binding upon the heirs, personal representatives, 22 successors and assigns of the parties. 23 23. Seller. Seller, See Emm1A.incbsd hereto is the current owner of the 24 Property described below. 25 2.4. Property. The Propcny is the following legally described real come in the County of wane I , Colorado: 26 All of Lots 11, 22and 23 including that portion of Lot 11 whirls lies WLy of the center line of the Roaring Fork River previously excepted in 27 a correction deed Bk 503 Pg 213 Subject to a five h, square of land in Lot 11 leased to the USA Bank 297 Pg 875-88D Bk 553 Pg 103. 2S all located In S27 T9S R 85W, County it Pitkin. State of Colorado. Approximately M acres. 29 30 known as No. 31 Series Address City State Zip 32 together with the interests, easements, rights, berefin, improvements and attached fixtures appurtenant therene, and all interest of 33 Seller in v.c&W streets and alleys adjacent theri except as herein excluded (Property). 34 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 35 2.5.1. Fixtures_ All fixtures attached b the Property on the date of this Contract. 36 Other Futures: 37 38 39 If any fixtures are attached to the Property after the date of this Contract, such additional fixtures are also included in the Purchase 40 Price. 41 23.2. Personal Property. If on dre Property, whether attached or ni on the date of this Contract, the following 42 items are included: 43 n/a 44 45 Other Personal Property: 46 n/a 47 49 The Personal Property to he conveyed at Closing must be conveyed by Seller Ren and clear of all taxes (except 49 personal property taxes for the year of Closing), liem and encumbrances, except ^'• 50 Conveyance will be by bill ofsale or other applicable legal instrument. 51 253. Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows: 52 53 L 11 CONTRACT T0913Y ANO SELL REA1,64TATIS(LAND) Pge3417 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 5 OF 35, Janice K. Vos Caudill, Pitkin County, CO 54 The Trade Fixtures to be conveyed at Closing will be conveyed by Seller free and clear of all taxes (excep(personal 55 property taxes for the year of Closing), liens and encumbrances, except Convey. 36 will be by bill of sale or other applicable legal instrument. 57 2.6. E2cl.dmis. The following items are excluded (Exclusions); 58 59 n/a 60 2.7. Water Rights, Well Rights, Water and Sewer Taps. 61 ❑ 2.7.1. Deeded Water Rights The following legally described water rights: 62 Any and all appurtenant water rights 63 M Any deeded venter rights will be conveyed by a good and sufficient nwsal,.,s s.. deed at Closing. 65 ❑ 2.71. Other Rights Relating to Water. The following rights relining to water not included in §§ 2.7.1, 2.7.3, 66 233 and 2.7.5, will be transferred to Buyer in Closing: 67 68 69 70 ❑ 2.7.3. Well Rights Seller agrees to supply required information to Buyer about the well. Buyer understands that 71 ifthe well to be mmasfcrred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes, 72 Buyer must, prior to or in Closing, complete a Change in Ownership form for the well. If an existing well has not been registered 73 with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer most complete a 74 registration of existing well forth for the well and pay the cost of registration. If no person will be providing a closing service in 75 connection with the transaction, Buyer most file the form with the Division within sixty days after Closing. The Well Permit # is 76 r 77 LI 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 79 n/a 79 M 2.7.5. Water and Sewer Tips Note: Buyer is advised to obtain, from the provider, written confrrtoatfoa of 81 the amount remdning to be paid, if any, time and other restrictions for transfer and use, of taps 82 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2 (Other Rights Relating to Water), 83 § 2.7.3 (Well Rights), or § 2.7.4 (Water Stock Certificates), Seller agrees m convey such rights to Buyer by executing the 84 applicable legal instrument at Closing. 85 2.8. Crowing Crops. With respect to growing crops. Seller and Buyer agree as follows: M 87 88 3. DATES AND DEADLINES. It. No. Reference Event Date or Deadline 1 § 4.3 Alternative Earnest Money Deadline +o e.yr r,aa, me enema ansae a.a.an.e 2 8.1 Title Record Title Deadline A -12.m14 3 68.2 Record Tile Objection Deadline r,.2a. 2oi4 4 8.3 Off -Record Trek Deadline su,. 12. mu 5 8.3 Off -Record Title Objection Deadline .Ire 26.2014 6 8.4 Title Resolution Deadline +, 'an" 7 8.6 RightofFirst Refusal Deadline rv. 8 1 07.3 Owner• Association 1 Association Documents Deadline s,ne t2.lou 9 67.4 Association Documents Obection Deadline .Ia,e N' o . 10 10.1 Seller's Proverty Discicumm Seller's Property Disclosure Deadline an. 12. M11 I I § 5.1 Loan and Credit Loan Application Deadline 12 § 5.2 Loan Objection Deadline 13 § 5.3 Buyer's Credit Information Deadline 14 § 5.3 Disapproval ofB is Credit Information Deadline IS § 5.4 ExMng Lmm Documents Deadline 16 § 5.4 Existing Loan Documents Objection Deadline L7a54i13 PW2017 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 6 OF 35, Janice K. Vos Caudill, Pitkin County, CO Item No. Reference Event Date or Deadline 17 5.4 Loan Toaster Approval Deadline $ 1.1sa.mom 19 4.7 Seller or Private Financing Deadline S imocc0, I9 66.2 Appraisal Appraisal Deadline S 20 6.2 Appraisal Objection Deadline S 21 9.1 Surse Current Sury Deadline 22 9.2 Current SuryObjection Deadline23 WIWI 7 9.2 Current SuryResolution DeadlineIns M��] 24 10.2 on and Due Dil encc Ins Ion Ob'Mion Deadline 25 103 In tion Rewlmion Deadline S 1,'60,0000, 26 10.5 Pro Inwrance Objection Deadline Is I "'scroorol $ I 115umw 27 10.6 Due Dili encc Documents Deliv Deadline 28 § 10.6 Due Diligence Documents Objection Deadline ..N."14 29 j 10.6 Due Diligence Documents Resolution Deadline A410.2014 30 610.6 Environmental inspection Objection Deadline A 26.2014 31 10.6 ADA Evaluation Objection Deadline 32 10.7 Conditional We Deadline 33 11.1 Tenant Estoppel Statements Deadline 12. zm4 34 112 Tenant Estoppel Statements Objection Deadline Me M, M14 35 6123 Closing and Possession Closing Date 36 § 17 Possession Date ti 914, A14 37 17 Possession Time 0,..m. 38 28 Acceptance Deadline Date rays. x14 39 26 Acceptance Deadline Time s s.0,. 99 3.1. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. Any box, 90 blank or line in this Contract left blank or completed with the abbreviation "N/A", or the word "Deleted" means such provision, 91 including any deadline, is not applicable and the mrrespunding provision of this Contract to which reference is made is deleted. 92 The abbre,iation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. 93 4. PURCHASE PRICE AND TERMS. 94 4.1. Prlee and Terms The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item Nu Reiterate Item Amount Amount I § 4.1 Purchase Price $ 1.1sa.mom 2 § 4.3 Earnest Mon S imocc0, 3 § 43 New Lom S 4 94.6 Assumption Balance S 5 j 4.7 Private FinancingS 6 14.7 Seller Financirs,rS WIWI 7 1 I g 9 § 4.4 Cash 0 Closing S 1,'60,0000, 10 TOTAL Is I "'scroorol $ I 115umw 95 4.2 Seller Concession. Sella, m Closing, will credit, as directed by Buym, an amount of S m assist % with any and all ofthe following: Buyer's closing costs, (Seller Concession). Sella Concession is in addition many sono Sella has 97 speed to pay or credit Buyer elsewhere in this Contract. Sella Concession will be reduced an the extent it exceeds rise aggregate 9a ofwhat is allowed by Buyer's lender m set forth in the Closing Sturman, Closing Disclosure or HUD. 1, at Closing. 99 4"3. Eamest Money. The Earnest Money set forth in this sectmn, in the form of � news uansra %will be im payable to and held by Pdxin county TRIC Inc. (Fane# Money Holder), in its trust account, on behalf of bath 101 Sella and Buyer. The Earnest Money deposit must be tendered, by Buys, with this Contract unless the patties mutually agree m Ca.91i11 CONTRACT TO BUY AND SELL auIsae3L17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 7 OF 35, Janice K. Vos Caudill, Pitkin County, CO 102 m Alternative Earnest Money Deadline (§ 3) for its payment. The panics authorize deliveryof the Eamca Money deposit m the 103 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Eam en Morey Holder has agreed 104 in have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to 105 Colorado residents, Seller and Buyer acknowledge and agree that any interest amming on the Bamest Money deposited with the 106 Earnest Money Holder in this transaction will be transferred to such fund. 107 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, ifother than at the 108 time oftender ofthis Contract, is as set forth as the Alternative Earnest Money Deadline (§ 3). 109 4.3.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to 110 the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except m provided 111 in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller agrees m execute 112 and raum to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within three 113 days of Sellers receipt ofsuch form. 114 4.4. Form of Funds; Time of Payment; Available Funds. 115 4.4.1. Good Funds. All amounts payable by the parties at Closing, including arty loan proceeds, Cash at Closing 116 and closing costs, most be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 117 check. savings and Into teller's check and cashier's check (Good Funds). Its 4.4.2. Time of Payment) Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be 119 paid before or at Closing or as otherwise agreed in writing between the paries to allow disbursement by Closing Company at 120 Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this 121 Contract, NX Does Q Data Not have funds that are immediately verifiable and available in an mount not less than the amount 122 stated as Cash at Closing in § 4.1. 123 45. New Loan. 124 4.5.1. Buyer to Pay Loan Costs. Buyer, except as provided in § 4.2, if applicable, must timely pay Buyer's loan 125 costs, loan discount points, prepaid items and loan origination fees, as required by lender. 126 4.5.2. Buyer May Select Financing. Buyer may pay in cash or select financing appropriate and acceptable to 127 Buyer, including a different loan than initially sought, except as restricted in § 4.5.3 or § 30 (Additional Provisions). 129 4.51 Loan Limitations. Buyer may purchase the Property using any of the following types of loans: 129 ❑ Conventional ❑ Other 130 4.6. Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of the Assumption 131 Balanm'set forth in §4.1, presently payable at S per including rincipal and interest 132 resently at the rete of %per annum, and also including escrow for the following as indicated: Real Estate Tax. 33 Propertylnsursnee Premtumand N 134 Buyer agrees to pay a ban transfer fix, not to exceed S . At the time of assumption, the new interest rate will 135 not excel % per annum and the new payment will not exceed S per principal and 136 interest, plus escrow, if any. If the actual principal balance of the existing loan at Closing is less than the Assumption Balumm, 137 which causes the amount of cash required from Buyer a Closing b be increased by more than $. then Buyer has 139 the Right to Tmnicent under § 25. 1. on or before Closing Date (§ 3), based on the reduced amount of the actual principal balance. I39 Seller ❑ Will ❑Will Not be released from liability on said lout. If applicable, compliance with the requirements for 14D release from liability will be evidenced by delivery ❑ on or before Loan Transfer Approval Deadline (§ 3) N K Closing of 141 an appropriate letter ofmmmiument from lends. Any cost payable for release of liability will be paid by 142 in an anwunt not to exact S 143 4.7. Seller or Private Financing. 144 WARNING: Unless the transaction is exempt, federal and state laws impose licensing, other requirements and restrictions on 145 sellers and private financiers. Contract provisions on financing and financing documents, unless exempt, should be prepared by a 146 licensed Colorado attorney or licensed mortgage loan originator. Brokers should not prepare or advise the paries on the specifics 147 of financing, including whether or not a parry is exempt from the law. 149 4.7.1. Seller Financing. If Buyer is to pay all or any portion of the Purchase Prim with Sell. financing (§ 4.1), ❑ 149 Buyer ❑ Seller will deliver the proposed Seller financing documents to the other party on or before days before 150 Seller or Private Financing Deadline (§ 3). 151 4.7.1.1. Seller May Terminate, If Seller is to provide Seller financing (§ 4.1), this Contract is conditional 152 upon Seller determining whether such financing is satisfactory to the Seller, including its payments, interest erne, tams, conditions, 153 root and compliance with the law. Seller has the Right to Tenni sant under § 25.1, on or before Seller or Private Financing W Deadline (§ 3), if such Seller financing is not satisfacmry to the Seller, in Seiler's sole subjective discretion. 155 4.7.2. Buyer May Terminale. If Buyer is to pay all many porion of the Porohase Prim with Seller or private 156 financing (§ 4.1), this Contract is conditional upon Buyer determining whether such financing is satisfactory on the Buyer, 157 including its availability, payments, interest rate, terms, conditions and cost. Buyer has the Right to Terminate under § 25.1, on or 159 before Seller or Private Finanesng Deadline (§ 3), if such Seller or private financing is not satisfactory b Buyer, in Buyer's sole 159 subjective discretion. 160 �11 MWgAUTOlO DSEI.LREALMATE(LAND) Pge4 a 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 8 OF 35, Janice K. Vos Caudill, Pitkin County, CO 161 TRANSACTION PROVISIONS 162 5. FINANCING CONDITIONS AND OBLIGATIONS. 163 5.1. Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New 164 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, most make an application verifiable 165 by such lender, on or before Loan Application Deadline (§ 3) and exercise reasonable efforts to obtain such loan or approval. IM 5.2. Loan Objection. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional 167 upon Buyer determining, in Buyer's sole subjective discretion, whether the New Loan is satisfactory to Buyer, including its 169 availability, payments, interest rate, terms, conditions, and cast of such New Loan. This condition is for the sole benefit of Buyer. 169 Buyer has the Right to Terminate under § 25. 1, on or before Loan Objection Deadline (§ 3), if the New Loan is not satisfactory to 170 Buyer, in Buyer's rale subjective discretion IF SELLER IS NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE 171 BUYER'S WRITTEN NOTICE TO TERM INATE, BUY ER'S EARNEST MONEY WILL BE NONREFUNDABLE, except 172 as otherwise provided in this Contract (e.g.. Appraisal, Title, Survey). O3 53. Credit Information. If an existing loan is not to be released m Closing, this Contract is conditional (for the sole 174 benefit of Seller) upon Sellers approval of Buyer's financial ability and creditworthinass, which approval will be at Seller's sole 175 subjective discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline (§ 3), at Buyer's 176 expense, information and documents (including a current credit report) concerning Buyer's financial, employment and credit 177 candition; (2) Buyer consents that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information 179 and documents received by Seller must be held by Seller in confidence, and not released to others except to protect Seller's interest 179 in this transaction. lithe Cash at Closing is less than as set forth in § 4.1 of this Contract, Seller has the Right to Terminate under 180 § 25.1, on or before Closing. If Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective 181 discretion, Seller has the Right to Terminate under § 25.1, on or before Disapproval of Buyer's Credit Information Deadline 182 (§ 3). 183 5.4. Existing Loan Review. if an existing loan is not to be released at Closing, Seller must deliver copies of the loan 194 documents (including note, deed of trust, and any modifications) to Buyer by Existing Loan Documents Deadline (§ 3). For the 185 sole benefit of Buyer, this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. 196 Buyer has the Right to Terminate under § 25. 1, on or before Existing Loan Documents Objection Deadline (§ 3), based on any 197 unsatisfactory provision of such loan documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the 198 Pmperty is required, this Contract is conditional upon Buyer's obtaining such approval without change in the terms of such loan, 189 except as set forth in § 4.6. If lender's approval is not obtained by Loan Transfer Approval Deadline (§ 3), this Contract will 190 terminate on such deadline. Seller has the Right to Terminate under § 25. 1, on or before Closing, in Sella's sole subjective 191 discretion, if Sd1a is to be released from liability under such existing loan and Buyer does not obtain such compliance as act forth 192 in § 4.6. 193 6. APPRAISAL PROVISIONS. 194 6.1. lender Property Requirements. If the lender imposes any requirements or repairs (Requirements) to be made to 195 the Properly (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, Sella has the Right to 196 Terminate under § 25.1, (notwithstanding § 10 of this Contract), on or before three days following Seller's receipt of the 197 Requirements, based an any unsatisfactory Requirements, in Seller's sole subjective discretion. Settees Right to Terminate in this 198 § 6.1 does not apply it on or before any termination by Seller pursuant to this § 6.1: (1) the parties enter into a written agreement 199 regarding the Requirements; or (2) the Requirements have ban completed; or (3) the satisfaction ofthe Requirements is waived in 200 writing by Buyer. 201 6.2. Appraisal Condition. The applicable Appraisal prevision set forth below applies un the respective loan type set 202 forth in§4.53, or ifa cash traosaction(i.e. no financing), § 62.1 applies. 203 62.1. Convontian.FOtha, Buyer has the sole option and election to terminate this Contract if the Property's 2N valuation, deterrnined by an eppmisa engaged on behalfof is less than the Purchase Prim. 205 The appraidl most be received by Buyer or Buyer's lender on or before Appraisal Deadene (§ 3). Buyer has the Right to 2N Terminate under § 25.1, on or before Appraisal Objection Deadline (§ 3), if the Property's valuation is less than the Purchase 2D7 Price and Seller's receipt of either a copy of such appraisal or written notice from lender that confirms the Property's valuation is 209 less than the Purchase Prim. This § 6.2.1 is for the rale benefit of Buyer. 209 63. Cost of AppntsaL Cost of any appraisal to be obtained after the time of this Coruract most be timely paid by 210 ❑ Buyer ❑ Seller. The cost of the appraisal may include any sad all fees paid to the appraiser, appraisal management company, 211 lender's agent or all three. 212 7. 0WNERS* ASSOCIATION. This Section is applicable If the Property Is located withln a Common Intent 213 Community and subject to such declaration. 214 7.1. Owners' Association Documents Owners' Association Documents (Association Documents) consist of the 215 following: CR94 13. CONTRALTTO 9UY AND SELL REAL ESTATE (LAND) P" 5 N 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 9 OF 35, Janice K. Vos Caudill, Pitkin County, CO 216 7.1.1. All Owners Association declarations, articles of incorporation, bylaws, articles of organisation operating 217 agreements, rules and regulations, party wall agreements; 219 7.1.2. Minutes of most recent annual owneri mating; 219 7.1.3. Minutes of any directors' or managers' meetings during the six-month period immediately preceding the 220 date of this Contract. If none of the preceding minutes exist then the most recent minutes, if any (§§ 7.1.1, 7.1.2 and 7.1.3, 221 collectively, Governing Documents); and 222. 7.1.4. The most recent financial documents which comist of: (1) annual and most recent balance shat. (2) annual 223 and most recent income and expenditures statement, (3) annual budget, (4) reserve study, and (5) notice of unpaid assessments, if 224 any (collectively, Financial Documents). 225 7.2. Common Interest Community Disclosure THE PROPERTY IS LOCATED WITHIN A COMMON 226 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 227 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATIONFOR THE 228 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 229 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 230 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 231 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 232 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 233 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 234 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 235 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 236 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 237 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 238 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 239 THE ASSOCIATION. 240 73. Aamdation Documents to Buyer. 241 ❑ 73.1. Seller to Provide Assoeiation Documem& Seller will cause the Association Documents to be provided m 242 Buyer, at Seller's expense, on or before Association Documents Deadline (§ 3). 243 ❑ 73.2. Seller Authorizes Asanektloa. Seller authorizes the Association to provide the Association Documents in 244 Buyer, n Seller's expense. 245 733. Seller's Obligation. Seller's obligation in provide the Association Documents is fulfilled upon Buyer's 246 receipt ofthe Association Documents, regardless of wed provides such documents. 247 Note: Neither box in this § 7.3 is checked, the provisions of § 73.1 apply. 249 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to 249 Terminate under § 25.1, on or before Association Documents Objection Deadline (§ 3), based on any unsatisfactory provision in 250 any of the Association Documents, in Buyer's sale subjective discretion. Should Buyer receive the Association Documents after 251 Association Documents Deadline (§ 3), Buyer, a Buyer's option, has the Right to Terminate under § 25.1 by Buyer's Notice as 252 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer since net receive _ 253 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Sella slier Closing 254 Date (§ 3), Buyer's Notice to Terminate must be received by Seller on or before Closing. If Sella does tet receive Buyers Notice 255 m Temdmte within such time, Buyer accepts the provision of the Association Documents as satisfactory, and Buyer waives any 256 Right to Terminate under this provision. notwithstanding the provisions of § 9.6 (Right of first Refusal or Contract Approval). 257 259 S. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. - 259 8.1. EAdea<eor Reemel Title 260 B.I.I. ® Seller Select/ Title Insurance Company. If this box is checked, Seller will select the title insurance 261 company to furnish the owner's tide insumrce policy a Seller's expense. On or before Record Title Deadline (§ 3), Sella must 262 famish m Buyer, a current commitment for an owner's title immune e policy (fide Commitrnent), in an amount eqt d m the 263 Purchaser Price, or if this box is checked, ❑ an Abstmet of Title unified in a current date. Seller will came the title insurance 264 policy to be issued and delivered to Buyer as soon as practicable at or alta Closing. 265 8.11. ❑ Buyer Selects Title Insurance Company. If this box Is checked, Buyer will select the title immance 266 company m furnish the owner's title insurance policy at Buyer's expa... On or before Record Title Deadline (§ 3), Buyer most 267 furnish to Sella, a current commitment for an owner's title insurance policy (Title Commitment), in an emoum equal b the 269 Purchase Price. 269 If neither box in § 8.1.1 or § 9. 1.2 is checked, § 8.1.1 applies. 270 3.I3. Owner's Extended Coverage (DEC). The Title Commitment © Will ❑ Will Not commit on delete or 271 insure over the standard exceptions which relate m: (1) pates in possession, (2) unrecorded easements, (3) survey matters, (4) 272 mvecorded mechanics lies, (5) gap period (effective date of canmitmrnt m data dad is recorded), and (6) unpaid toes, 273 asussments and unredeemed tax sales prior m the year of Closing (OEC). If the title insurance company agrra to provide an Cab M CONTRA(7r W ll Y AND SELL REALE AW ([AND) PW 6 d 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 10 OF 35, Janice K. Vos Caudill, Pitkin County, CO 274 endorsement for OEC, any additional premium expense to obtain an endorsement for OEC will be paid by []Buyer ®Seger 275 ❑ 0.e-Hdf by Buya and One -Half by Seller ❑ Other 276 Note: The title insurance company may not agree to delete or insure over any or all oflhe standard exceptions. 277 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, 278 covenants, conditions and restrictions burdening the Property, and (2) copies of my other documents (or, if illegible, summaries of 279 such documents) listed in the schedule ofexceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title 280 Documents). 281 9.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline (§ 3), copies of all 282 Tide Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the 283 county where the Property is located. The Dust of famishing copies of the documents required in this Section %il I be at the expense 284 offt patty or parties obligated to pay for the owner's tide insurance policy. 285 8.1.6. Existing Abstracts of Tsde. Seller must deliver to Buyer copies ofany abstracts of title covering all or any 286 portion ofthe Property (Abstract of Title) in Sellers possession on or before Record Tide Deadline (§ 3). 287 92 Record Title Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the 288 Title Documents, ss sal forth in § 8.4 (Right to Object to Title, Resolution) on or before Record Title Objection Deadline (§ 3). 289 Buyer's objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 290 13, or any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or 291 Tide Documents arc not received by Buyer, on or before the Record Title Deadline (§ 3), or if there is an endorsement to the Tide 292 Commitment that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be 293 delivered to Buyer. Buyer has until the earlier of Closing or ten days after receipt ofsuch documents by Buya to review and object 294 m: (1) any required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or 295 Title Documents, or (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminale or Notice of 2% Title Objection, pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.4 297 (Right to Object to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents 298 required by § 8.1 (Evidence of Record Tide) and Seller does not receive Buyer's Notice in Terminale or Notice of Title Objection 299 by the applicable deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Tide 300 Commitment and Title Documents as satisfactory. 301 8.3. OR-Rerord Title Seller most deliver to Buyer, on or before OR Record Title Deadline (§ 3), true copies of all 302 existing surveys in Seller's possession pertaining to the Property and most disclose to Buyer all easements, liens (including, 303 without limitation, govemmenml improvements approved, but not yet installed) or other title matters (including, without 304 limitation, rights of first refusal and options) not shown by public records, of which Seller has actual knowledge (Off -Record 305 Matters). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown by 3D6 public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of 307 Title Objection of any unsatisfactory condition (whether disclosed by Sella or revealed by such inspection, notwithstanding § 9.2 308 and § 13), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record Title Objection Deadline 309 (§ 3). If an Off -Record Matter is received by Buyer after the OR -Record Title Deadline (§ 3), Buyer has until the earlier of 310 Closing or ten days after receipt by Buyer to review and object to such Off -Record Mater. If Seller receives Buyer's Notice to 311 Terminate or Notice of Title Objection pursuant to this § 8.3 (Off -Record Title), any tide objection by Buyer and this Contract as, 312 governed by the provisions set forth in § 9.4 (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to 313 Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such rights, ifany, 314 ofdurd parties of which Buyer has acetal knowledge. 315 8.4. Right to Object to Title, Resolution. Buyer's right to object to any title matets includes, bra is not limited to those 316 matters set forth in §§ 8.2 (Record Title), 8.3 (Off -Retard Title) and 13 (Transfa of7idt), in Buyer's sole subjective discretion. If 317 Buyer objects to any title maria, on or before the applicable deadline, Buyer has the following options: 319 64.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting many title matter (Notice 319 ofTille Objection) on or before the applicable deadline, and if Buyer and Seller have out agreed to a written settlement thereof on 320 or before Title Resolution Deadline (§ 3), this Contract will terminate on the expiration of Title Resolution Deadline (§ 3), 321 unless Seiler receives Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice m waive 322 objection to such items and waives the Right to Terminale for that reason), on or before expiration of Title Resolution Deadline 323 (§ 3). If either the Record Title Deadline or the OR -Record Title Deadline, or both, are extended to the earlier of Closing or ten 324 days after receipt of the applicable documents by Buyer, pursuant to § 8.2 (Record Title) or § 8.3 (Off --Record Title), the Tide 325 Resolution Deadline also will be automatically exterded to dR earlier of Closing or fifteen days after Buyer's receipt of the 326 applicable documents; or 327 64.2. Title Objection, Right to Termhule. Buyer may exercise the Right tu Terminate under § 25.1, on or 329 before the applicable deadline, based on any unsatisfactory title matter, in Buyer's sole subjective discretion. 329 65. Special Taxing DbtActa. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 330 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 331 PROPERTY WITHIN SUCH DISTRICTS PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK 332 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE C'B4a-11 CONTRACT TO BOY AND SELL READ. ESTATE (LAND) Page 7 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 11 OF 35, Janice K. Vos Caudill, Pitkin County, CO 333 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 334 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES BUYERS SHOULD INVESTIGATE THE 335 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY 336 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING 337 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND 339 RECORDER ORTHE COUNTY ASSESSOR - 339 Buyer has the Right to Terminate under § 25.1, on or before OH -Record Title Objection Deadline (§ 3), based on any 340 unsatisfactory effect ofthe Property being located within a special taxing district, in Buyers sole subjective discretion. 341 8.6. Right of First Refusal or Contract Approval. Ifthere is a right of first refusal on the Property or a right in approve 342 this Contract, Seller must promptly submit this Contract aocoNing to the terms and conditions of such right. If the holder of the 343 right of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract will terminate. 3" If the right of fust refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in fall force and 345 effect Seller most promptly notify Buyer in writing of the foregoing. l fexpiralion or waiver ofthe right of first refusal or approval 346 ofthis Contract has not occurred an or before Right of First Refusal Deadline (§ 3), this Contract will then terminate. 347 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed 349 carefully. Additionally, other matters trot reflected in the Title Documents may affect the title, ownership and use of the Property, 349 including, without limitation, boundary lines and encroachments, set -back requirements, area, raring, building code violations, 350 uruecarded easements and claims of easements, leases and other unrecorded,agreements, water on or under the Property, and 351 various laws and governmental regulations concerning land use, development and environmental metiers. The surface estate may 352 be owned separately from the underlying miners] estate, and transfer of the surface estate does not necessarily Include 353 transfer of the mineral rights or water rights Third parties may hold Interests in it, gaa, other minerals, geathermal 354 energy or water o0 or under the Property, which interests may give them rights to enter and use the Property. Such matters, 355 and others, may be excluded from or not covered by the owner's title insurance policy. Buyer is advised to timely comuh legal 356 counsel with respect to all such matters 6.5 there are strict time limits provided in this Contra" [e.g., Record Title Objection 357 Deadline (§ 3) and Off -Record Title Objection Deadline (§ 3)]. 358 9. CURRENT SURVEY REVIEW. 159 9.1. Current Survey Conditions If the box in § 9.1.1 or § 9.1.2 is checked, Buyer, the issuer ofthe Title Commitment 360 or the provider critic opinion of title train Abstract of Title, and will receive an Improvement location 361 Certificate, Improvement Survey Plat or other form of survey set forth in § 9.1.2 (collcotively, Currmt Survey), on or before 362 Current Survey Deadline (§ 3). The Current Survey will be certified by the surveyor to all those who are to receive the Current 363 Survey. 364 ❑ 9.1.1. Improvement Location Certifcste. Tithe box in this § 9.1.1 is checked, ❑ Seller ❑ Buyer will order or 365 rom vide, and pay, on or before Closing, the cost ofan Improveent Location Certificate. 366 9.11. Other Survey. If the box in this § 9.1.2 is checked, a Current Survey, other than an Improvement Location 167 Certificate, will be an ❑X Improvement Survey Plat m ❑ ' . The parties agree that payment ofthe cost of 3611 the Current Survey and obligation in order or provide the Current Survey arc as fallaws: 369 Buyer to be responsible for 100% of the cost of said survey. 370 371 372 9.L Current Survey Objection. Buyer has the right in review and object to the Current Survey. If the Current Survey is 373 n" timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may, on or before Current 374 Somey Objection Deadline (§ 3), notwithstanding § 83 or § 13: 375 91,1. Notice to Terminate. Notify Seller in writing that this Contact is terminated; or 376 9.2.2. Current Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is 377 sown in the Current Survey that is unsatisfactory and that Buyer requires Seller to correct. 378 93. Current Survey Resolution. If a Current Survey Objection is received by Seller, on or before Current Survey 379 Objection Deadline (§ 3), and if Buyer and Seller have cwt agreed in writing to a sentiment thereof on or before Current Survey 390 Resolution Deadline (§ 3), this Contract will terminate to on the Current Survey Resolution Deadline (§ 3). unless Seiler receives 391 Buyer's written withdrawal of the Current Survey Objection before such termination, i.e., on or before expiation of Correct 3112 Survey Resolution Deadline (§ 3). 393 t85ai11 CONTRACTTOBUYANDSEILREAl-MATEoAND) rws RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 12 OF 35, Janice K. Vos Caudill, Pitkin County, CO 304 DISCLOSURE, INSPECTION AND DUE DILIGENCE 305 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE 306 OF WATER. 307 10.1. Seller's Property Dtxlosuta On or before Seiler's Property Disclosure Deadline (§ 3), Sella agrees m deliver to 300 Buy" the most current version of the applicable Colorado Real Estate Commiuion's Sella's Property Disclosure form completed 309 by Sella to Seller's actual knowledge, current as of the date ofthis Contract 3% 103. Inspection Objection. Unless otherwise provided in this Contract, Buyer acknowledges that Sella is conveying the 391 Property on Buyer in an "m is" condition, "what is" and "with all faults." Colorado law requires that Sella disclose to Buyer any 392 latent defects actually known by Sella. Disclosure of latent defects must be in writing. Buyer, acting in good faith, has the right to 393 have inspections (by one or mom third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. 394 If (1) the physical condition of the Property, including, but not limited m, the roof, walls, structural integrity of the Property, the 395 electrical, plumbing, HVAC and other mechanical systems ofthe Property, (2) the physical condition of the Inclusions, (3) service 3% to the Property (including militi" and communication services), systems and components of the Property (e.g.. heating and 397 plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise 390 (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole 399 subjective discretion, Buyer may, on or before Inspection Objection Deadline (§ 3): 400 103.1. Notlee to Terminate. Notify Sella in writing that this Contract is terminated; or 101 1031 Inspection Objection. Deliver to Seller a written description of any unsatisfactory physical condition that 402 Buyer requires Seller to corral 403 10J. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection 404 Deadline (§ 3) and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution 405 Deadline (§ 3), this Contract will terminate on Inspection Resolution Deadline (§ 3) unless Seller receives Buyer's written 406 withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline 407 (§ 3). 400 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement 409 havens the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at 410 Buyer's request (Work) and must pay for any damage the occurs to the Property and Inclusions m a result of such Work. Buyer 411 most rot pamh clairny or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, 412 protea and hold Seller harmless from and against any liability, damage, cost or expense inc" by Seller and caused by any such 413 Work, claim, or lien. This indemnity includes Selici s right to mover all costs and expenses incurred by Sella to defend against 414 my such liability, damage, cost or expense, or in enforce this section, including Seller's reasonable attorney fees, legal fees and 415 expenses. The provisions of this section survive the lamination of this Contract. This § 10.4 does not apply in item performed 416 focused to an Inspection Resolution. 417 103. Insurability. Buya has the right m review and object to the availability, terms and conditions of and premium for 410 property insurance (Property Insurance). Buyer has the Right to Terminate under § 25. 1. on or before Property Insunnee 419 Objection Deadline (§ 3), based on my unsatisfactory prevision ofthe Property Insurance, in Buyer's sole subjective discretion. 420 10.6. Due Diligence. 421 10.6.1. Due Diligence Documeate. Ifthe respective box is checked, Sella agrees to deliver copies ofthe following 422 documents and information pertaining to the Propary (Due Diligence Docmnenb) in Buyer on or before Due DWgence 423 Uncvmeab Delivery Deadline if 3): 121 ❑ 10.6.1.1. All contracts relating m the operation, maintenance and management ofthe Property; 125 ❑ 10.6.13. Property tax hills for the Inst _ years; 426 ❑ 10.6.13. As -built cons6ution plans to the Property ad the tenant improvements, including architectural, 427 electrical, mechanical, and structmal systems, engineering reports, and permanent Certificates of Occupancy, to the extent now 420 available; 429 ❑ 10.6.1.4. Alist ofall Inclusions in be conveyed on Buyer, 430 10.6.1.5. Operating sbmmerms for the past _ Years; 10 .6.1.6. Arent roll acc"ate and mrtat m the date ofthis Contract 432 :0.6.1.7. All current leases, including my amendments or other occupancy agreements, pertaining to the 433 Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing ere" follows (Lagers): 434 435 136 437 ❑ 10.6.1.8. A schedule of my tenant improvement work Sella is obligated m complete but has not yes been 430 completed n and capital improvement work either scheduled or in process on the date ofthis Cost 439 ❑ 10.6.1.9. All insurance policies pertaining m the property and copies of any claims which have been made 440 for the past years; 0054111 (AraYA(.TT0a01'AaDSEEt REALESTAIEft ) Pge9dI7 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 13 OF 35, Janice K. Vos Caudill, Pitkin County, CO 441 ❑ 10.6.1.10. Soils reports, Surveys and engineering reports or data pertaining to the Pmperty (if nut delivered 443 earlier under § 9.3); 443 ❑ 10.6.1.11. Any and all existing documentation and reports regarding Phase I and II environmental reports, 444 letters, test results, advisories, and similar documents respective to the existence or nonexistence ofasbestos, PCB transformers, or 445 other music hazardous or contaminated substances, and/or underground storage tanks and/or radon gas. if no reports are in Sella's 446 Hsession or known to Sella, Sella waren, that no such reports arc in Seller's possession or known in Seller, 447 10.6.1.12. Any Americans with Dirahilities Act reports, studies or surveys conaming the compliance of Ne 449 Property with said AM N9 ❑ 10.6.1.13. All permits, licenses and other building or use mtherization, issued by any governmental 450 authority with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use authorizations, 451 if my; and 452 ❑ 10.6.1.14. Other documents and information: 453 454 455 456 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review, and object to Due 457 Diligence Documents. If the Due Diligence Documents aro trot supplied to Buyer or are unsatisfactory in Buyer's sole subjective 459 distsm6on. Buyer, may, on or before Due Diligence Documents Objection Deadtiue (§ 3): 459 10.63.1. Notice to Termlasm Notify Sella in writing that this Contract is tenmim.ted; or 460 10.611. Due Diligence Documents Objection. Deliver as Sella a written description of any 461 unsatisfactory Due Diligence Documents slut Buyer requires Seller to correct. 462 10.63. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is tarived by Sella, on 463 or beim Due Diligence Doeumenm Objection Deadline (§ 3), and if Buyer and Sella have not agreed in writing m a settlement 464 thereof em or before Use Diligence Documents Resolution Deadline if 3), this Contract will terminate on Due Diligence, 465 Documents Resolution Deadline (§ 3) unless Seller receives Buyer's written withdrawal of the Due Diligence Documents 466 Objection before such termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline (§ 3} 467 10.6.4. Zoning. Buyer has the Right us Terminate under § 25.1, on or before Due Diligence Documents Objection 469 Deadline (13). based on any unsatisfactory inning and any use restrictions imposed by any governmental agency with jurisdiction 469 over the Property, in Buyer's sole subjective discretion. 470 10.63. Due DBigenee—Environs mental, ADA. Buyer has the right tol obtain cnviromnental impactions of the 471 Property including Phase I and Phase II Environmental Site Assessment; as applicable. ❑ Seller ® Buyer will order or provide 472 ® Phase I Environmental Site Assessment, ❑ Phase 11 Environmental Site Assessment (compliant with ASTM E1527-05 473 standard practices for Environmental Sim Assessments) and/or © Ta � at the expense of ❑ Seller 474 Buyer (EnvironmenW Inspection). In addition, Buyer, a Buyer's expense, may also conduct an evaluation whether the Property 475 complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and evaluation, must be conducted at 476 such times as me mutually agreeable to minimin the interruption of Seller's and any Sellers mounts' business uses of the 477 Property, ifmy. 479 If Buya's Phau I Environmental Site Assessment recommends a Pham D Environmental Sim Assessment, the 479 Eaviroomeatal Inspection Objection Deadline (§ 3) will be extended by so days (Extended Environmental Inspection 490 Objection Deadline) and if such Extended Environmental Inspection Objection Deadline extends beyond the Qming Date if 3k 491 the Closing Date (§ 3) will be extended a like period of time. In such event. ❑ Seiler ® Buyer most pay the coal fa such Phase 492 II Environmental Site Assessment 423 Notwithstanding Buyds right to obtain additional environmental inspections of the Property in this § 10.6.5, Buyer has the 494 Right to Terminate under § 25.1, on or before Environmental Inspection Objection Deadline (§ 3), or if applicable the Extended 495 Environmental Inspection Objection Deadline, baud on my unsatisfactory results of Environmental Inspection, in Buyer's ink 496 subjective discretion. 497 Buyer has the Right mu Terminate order § 25.1, on or before ADA Evaluation Objection Deadline (§ 3), based on my 499 unsatisfactory ADA Evaluation, in Buyer's sok subjective discretion. 499 ' 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property 4% owned by Buyer and commonly known ss . Buyer has the Right to Terminate under 125.1 491 eRedive upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale Deadline (§ 3) if such property is net 492 mid and closed by such deadline. This § 10.7 is for the sole ben6t of Buyer. If Seller does rot receive Buyer's Notice as 493 Terminate on m before Conditional Sale Deadline (§ 3), Buyer waives my Right to Terminate under this provision. 4% 10.9. Source of Potable Water (R dd tial Laud and Residential lmptsvenn o s Only). Buyer ❑ Does ❑ Doe Not 495 acknowledge mceipt of • copy of Seller's Property Disclosure or Source of Water Addendum disclosing the mune of potable 4% water for the Property. Buyer LI Does ❑ Does Nor acknowldge receipt ofa copy ofthe coram well permit ❑ TMm u No W.U. 497 Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND 499 WATER YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO 499 DETERMINE THE LONGTERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES CONTRACT TO mN AND SELL REAL ESTATE (LAND( rw to.( 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 14 OF 35, Janice K. Vos Caudill, Pitkin County, CO 500 10.9. Existing leases; Modification of Existing [Assn; New Leases. Seller states that none ofthe Leases to be assigned Sol to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the 502 Lease or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any ofthe Leases nor will Seller 503 enter into any new leans affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably 501 withheld or delayed. 505 11. TENANT ESTOPPEL STATEMENTS 506 11.1. Tenant Estoppel Statements Conditions Buyer has the right to review and object to any Estoppel Statements. 502 Seller must obtain and deliver to Buyer on or before Tenant Estoppel Statements Deadline (§ 3), statements in a form and 509 substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement) coached to a copy of 509 the Lease stating: SIO 11.1.1. The commencement due of the Lease and scheduled termination date of the lease; 511 11.11 Thal said Lease is in full for" and effect and that there have been no subsequent modifications or 512 amendments; 513 11.13. The amount of eery advance rentals paid, rent coraessions given, and deposits paid to Seller; 514 ILIA. The amount ofmonthly (orother applicable period) rental paid to Seller, 515 1135. That there is no default under the terms of said Lase by landlord or occupant; and 516 ILIA. Oxo the Least b which the Estoppel is attached is a true, cmred and complete copy of the Lease demising 512 the premises it describes 518 11.2. Tenant Estoppel Statements Objection. Buyer has the Right to Terminale under § 25.1, on or before Tenant 519 Estoppel Statement Objection Deadline (§'3), based on any unsatisfactory Estoppel Statement. in Buyer's sole subjective 520 discretion, or if Seller fails to deliver the Estoppel Statement on or before Tenant Estoppel Statements Deadline (§ 3). Buyer 521 also has the unilateral right in waive any unsatisfactory Estoppel Statement. 522 523 1 CLOSING PROVISIONS 524 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 5251 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to 526 enable the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If 522 Buyer is obtaining a new loan to purchase the Property, Buyer acknowledges Buyer's lender is required In provide the Closing 528 Company, in a timely manner, all required loan documents and financial information concerning Buyer's new loan. Buyer and 529 Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this 530 transaction. Buyer and Seller will sign and complete all customary or reasonably required document at or before Closing. 531 121. Closing Instructions Colorado Real Estate Commission's Closing Instructions; ❑ Are ❑5( Are Not executed with 532 this Contract 533 123. Closing. Delivery of dced from Seller to Buyer will be at closing (Closing). Closing will be on the due specified as 534 the Closing Date (y 3) or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by 535 536 12.4. Disclosure of Settlement Costs Buyer and Seller acknowledge that costs, quality, and extent of service vary 532 between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 539 13. TRANSFER OF TITLE Subject in tender of payment at Closing a; required herein and compliance by Buyer with the 339 other terms and provisions hereof, Seller most execute and deliver a good and sufficient oemrei van.nb cited 340 in Buyer, ar Closing, conveying the Property free and clear of all tarn except the general taste for the year of Closing. Except as 541 provided hemin, title will be conveyed free and clear of all liens, including any governmental liens for special improvement 542 installed az ofthe date of Buyer's signature hereon, whether assessed or not. Title will be conveyed subject IS: 543 13.1. Those specific Exceptions described by reference to recorded documents as reflected in the Title Documents 544 accepted by Buyer in accordance with Record Title (§ 8.2), 545 131. Distribution utility casements (including cable TV), 546 133. Those specifically described rights of third parties Trot shown by the public records of which Buyer hes actual 542 knowledge and which seem accepted by Buyer in accordance with Off -Record Title (§ 8.3) and Consent Survey Review (§ 9), 348 13.4. Inclusion ofthe Property within any special taxing district, 549 13.5. Any special assessment if the improvements were not installed as of the date of Buyer's signature hemoq whether 530 assessed prior to or after Closing, and 551 13.6. Other L'694a-11 CONTMCf TO BUY AND SELL REAL MATE (LAND) PgellatD RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 15 OF 35, Janice K. Vos Caudill, Pitkin County, CO 552 14. PAYMENT OF ENCUMBRANCES. Any encumbrance required m he paid will be paid at or before Closing from the 553 proceeds of this transaction or from any other source. 554 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES 555 15.1. Closing Casts. Buyer and Seller mug pay, in Good Funds, their respective closing costs and all other items required 556 m be paid at Closing, except as otherwise provided herein. 557 151. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer ❑ Seller 558 ® One-Halfby Buyer, and OntHalfby Seller ❑Other 559 153. Status Lever and Record Change Fees. Any fees incident to the issuance of Association's statement of 560 assessments (Stmus Lauer) most be paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and Ooe-Half by Seller ® None. 561 Any record change fee assessed by the Association including, but not limited to, ownership record transfer fees, regardless of name 562 or title of such fee (Association's Record Change Fee) must be paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and Ont 563 Half by Seller ®None. 564 15.4. Lon] Transfer Tea. ❑ The Local Transfer Tax of G of the Purchase Price must be paid at Closing by 565 ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ® None. 566 155. Private Transfer Fee. Private transfer fees and other fees due to a Dangler of the Property, payable a Closing, such 567 as community association fees, developer fees and foundation fees, most be paid at Closing by Lj Buyer ❑ Seller ❑ One- 568 nt568 Half by Buyer and One -Half by Seller ® None. The Private Transfer fee, whether one or more, is for the following 569 asrociation(s): in the total amount of _% of the Purchase 570 Price or $ 571 15.6. Water Transfer Fres. The Water Transfer Fres can change. The fees, as of the date ofthis Contract, do not exceed 572 S for. 573 ❑x WaterSDaWCertificaus OWater District 574 ❑X Augmentation Membership ❑X Small Domestic Water Company ❑ 575 and must be paid al Closing by ❑ Buyer ❑X Seller ❑ One-Halfby Buyer and One -Half by Seller ❑ None. 576 15.7. Saks and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by ❑ 577 Buyer ❑X Seller ❑ One -Half by Buyer and One -Half by Seller F1 None. 578 16. PRORATION& The following will be prorated to the Closing Date (§ 3), except as otherwise provided: 1579 16.1. Taxes. Personal property taxes, ifany, special lazing district assessmcou,ifany, and general real estate taxes for the' 580 year of Closing, based on ❑X Tax" for the Calendar Year Immediately Preceding Closing ❑ Most Recent MBI Levy and 581 Most Recent Assessed Valuation, or❑Other 582 16.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller will transfer or credit to 583 Buyer the security deposits for all Leases "signed, or any remainder after lawful deductions, and notify all tenants in writing of 584 such transfer and of the transferee's name and address. Seller must assign to Buyer all Lenses in effect at Closing and Buyer most 585 assume Sellers obligations under such Leases. 586 163. A.I tion Assessments. Cunene regular Association assessments and dues (Association Assessments) paid in 587 advance will be credited in Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred 588 maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. 589 Buyer acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. SW Any special assessment assessed prior to Closing Date (§ 3) by the Association will be the obligation of ❑ Buyer ❑ Seller. 591 Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer's 592 signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller. Seller represents that the Association 593 Assessments me currently payable at approximately S per and that there are no unpaid regular 594 or special assessments against the Property, except the current regular assessmems and 595 Such assessments are subject to change as provided in the Governing Documents. Seller agrees in promptly request the 596 Association to deliver to Buyer before Closing Date (§ 3) a content Slams Letter. 597 16.4. Other Proration. Water and sewer charges,propane, interest Do continuing loan, and 598 165. Final Settlement. Unless otherwise agreed in writing, them proration an, final. 599 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date (§ 3) at Possession Time (§ 3), 600 subject to the Lear" as set forth in § 10.6.1.7. 601 602 If Seller, after Closing, fails to deliver possession as specified, Seiler will be subject m eviction and will be additionally liable 603 to Buyer for payment of $ 50.00 per day (or any part of s day notwithstanding § 18.1) from Possession Dole (§ 3) and 601 Pavagoa Time (§ 3) unlit possession is delivered. 605 (7851111 CVRraACTTO BUVAND SELL REAL ESTATE (LAND) Pqe 12 of 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 16 OF 35, Janice K. Vos Caudill, Pitkin County, CO 606 1 GENERAL PROVISIONS 607 18. DAV; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 608 ILI. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain 609 Time (Standard or Daylight Savings as applicable). 610 ILL Computation of Period of Days, Deadline In computing a period of days, when the ending date is am specified, 611 the fire day is excluded and the last day is included (e.g., three days after MEC). If any deadline falls on a Saturday, Sunday or 612 federal or Colorado state holiday (Holiday), such deadline ❑5C Will ❑Will Not be extended to the next day that is not a 613 Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 614 19. CAUSES OF LOSS, INSURANCE; DAMAGE TOINCLUSIONSAND SERVICES; CONDEMNATION; AND 615 WALK-THROUGH. Except as otherwise provided in this Contact, the Property, Inclusions or both will be delivered in the 616 condition existing as of the date of this Contac, ordinary wear and tear excepted. 617 19.1. Causes of loss, Insurance In the event the Property or Inclusions are damaged by fire, other perils or causes of 616 loss prior in Closing in an amount of not moa than ten percent of the total Purchase Price (Property Damage), Seller is obligated 619 an repair the same before Closing Dale (§ 3). Buyer has the Right to Terminale under § 25.1, on or before Closing Date (§ 3), if 620 the Property Damage is not repaired before Closing Date (§ 3) or if the damage exceeds such sum. Should Buyer elect to carry ore 621 this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received 622 by Seller (but not the Association, if any) resulting from such damage in the Property and Inclusions, plus the amount of any 623 deductible provided for in such insurance policy. Such credit mum not exceed the Purchase Price. In the event Seller has not 624 received such insurance pmcceds prior to Closing, the parties may agree to extend the Closing Date (§ 3) or, at the option of 625 Buy", Seller mum assign such proceeds al Closing, plus credit Buyer the amount of any deductible provided for in such insurance 626 policy, but ret to exceed the total Purchase Price. 627 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication 628 services), system, component or fixture of the Property (collectively Service), e.g., heating or plumbing, fail or be damaged 629 between the date of this Contact and Closing or possession, whichever is earlier, Nen Seller is liable for the repair or replacement 630 of such Inclusion or Service with a unit of similar siee, age and quality, or an equivalent credit, but only to the extent the the 631 maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance 632 proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or 633 replaced on or before Closing or possession, whichever is earlier, Buy" has the Right to Terminate under § 25.1, on or before 634 Closing Date (§ 3), or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such 635 Inclusion or Service. Such credit most not exceed the Purchase Price. If Buyer receives such a credit, Selleh right for any claim 636 against the Association, if any, will survive Closing. Seller and Buyer we aware of the existence of preowned home warranty 637 programs that may be purchased and may cover the repair or replacement of such Inclusions. 638 19-3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may 639 result in a taking of all or pan of the Property or Inclusions, Sell" mug promptly notify Buyer, in writing, of such condemnation 640 acting. Buyer has dK Right to Terminate under § 25.1, on or before Closing Date (§ 3# based on such condemnation action, in 641 Buyer's sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value b the 642 Properly and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution 643 in the value of the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase 644 Price. 645 19A. Wdk-Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the 646 Properly prior m Closing to verify, the the physical condition of the Property and Inclusions complies with this ContmcL 647 19.5. "it of Loss —Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne "It by the party entitled in the growing crops as provided in § 2.8 and such party is entitled to such insurance proceeds or benefits for 649 the growing crops. 650 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL By signing this Contract, Buyer and Seller acknowledge 651 that the respective broker has advised the this Contract has important legal consequences and has recommended the examination 652 of tide and consultation with legal and tax or other counsel before signing this Contras. 653 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received as 654 Eamem Money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any obligation 655 hereunder is not performed or waived as herein provided, the nondefaulting party has the following remedies: 656 21.1. If Buyer is in Default; 657 ❑ 21.1.1. Specific Performance Seiler may elect to new this Contract as canceled, in which case all Earnest Money 659 (whedw or not paid by Buyer) will be paid to Seller and retained by Seller; and Seller may recover such damages as may be CB IX CONTRACr TO B(IYAND SELL REALESTATE(LAND) P.,Bar 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 17 OF 35, Janice K. Vos Caudill, Pitkin County, CO 659 proper; or Seller may elect to neat this Contract as being in full force and effect and Seller has the right to specific performance or 660 damages, or both. MI 21.11. liquidated Damages, Applinbic This §21.1.2 applies unless the box In 621.1.1. is checked. All 662 Earnest Money (whether or not paid by Buyer) will be paid to Seller, and retained by Seller. Both panics will thereafter be released 663 fiom all obligations hereunder. It is agreed thin the Eamest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a 661 penalty, which amount the parties agree is fair and reasonable and (except as provided in §§ 10.4, 22, 23 and 24), said payment of 665 Tamen Money is SELLER'S ONLY REMEDY for Buyer's failure to perform the obligations of this Contract. Seller expressly 666 waives the remedies ofspecific performance and additional damages. 667 211. If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received 668 hereunder will be resumed and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Contra as 669 being in full fore and effect and Buyer has the right to specific performance or damages, or both. 670 22. LEGAL FEES, COSEAND EXPENSES Anything to the contrary herein notwithstanding, in the event ofany arbitration 671 or litigation relating to this Contract, prior to or after Closing Date (§ 3), the arbitrator or court must award to the prevailing party 6R all reasonable costs and expenses, including attorney fees, legal fees and expenses. 673 23. MEDIATION. Ifa dispute arises selating to this Contrac4 prior to or after Closing, and is not resolved, the parties must first 674 proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial person 675 who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the 676 dispute must agree, in writing, before any settlement is binding. The parties will jointly appoint an acceptable mediator and will 677 share equally in the cost of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire dispute is 678 not resolved within thirty days of the date written notice requesting mediation is delivered by one patty to the other at the party's 679 last known address. This section will not alter my date in this Contract, unless otherwise agreed. 680 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Eames) Money Holder most release the Earnest 681 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding 682 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole 683 subjective discretion, has several options: (1) wait for my proceeding between Buyer and Seller, (2) interplead all parties and 681 deposit Earnest Money into a court of competent jurisdiction, (Tamest Money Holder is entitledto recover court costs and 685 reasonable attorney and legal fees incuired with such action); or (3) provide notice to Buyer and Seller that unless Eames) Money 686 Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 687 lawsuit (Iaveui t) within one hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is 688 aulhorimd to mum the Earnest Money to Buyer. In the event Earnest Money Holder does reeeive a copy of the Lawsuit, and has 689 not interpled the monies at the time of my Order, Tamest Money Holder must disburse the Earnest Money pursumt to the Order 690 of the Court, The parties realBnm the obligation of Mediation (§ 23). This Section will survive cancellation or termination of this 691 Connect. 692 25. TERMINATION. 693 25.1. Right to Terminate. if a party has a right to terminate, as provided in this Contract (Right b Terminate), the 694 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written 695 notice was received on or before the applicable deadline specified in this Contract Ifthe NoticetoTerminate is not received on or 696 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as 69r satisfaMry and waives the Right to Terminate under such provision. 1- 698 251. Effect of Termination. In the event this Contract is terminated, all Earnest Money received hereunder will be 699 retuned and the parties are relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 and 24. 700 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL This Contract, its exhibits and specified addenda, conefl me 701 the entire agreement between the parties relating to the subject hereof, and my prior agreements pertaining thereto, whether oral in 702 written, have been merged and integrated into this Contract. No subsequent modification of my of the terms of this Contract is 703 valid, biding upon the pries, or enforceable unless made in writing and signed by the parties. Any right or obligation in this 704 Contract then, by its terms, exists or is intended to be performed after termination or Closing survives the some. 705 27. NOTICE, DELIVERY, AND CIIOICEOFLAW. 706 27.1. Physical Delivery. All notices must be in writing, except as provided in § 27.2. Any document, including a signed 707 document or notice, from or on behalf of Seller, and delivered to Buyer is effwive when physically received by Buyer, my 708 signatory on behalfol'Buyer, my named individual ofNuyer, any representative of Buyer, or Brokerage Firm of Broker working 709 with Buyer (except for delivery, after Closin& of the notice requesting mediation ci mnbed in § 23 and except as provided in 7t0 § 272). Any document including a signed document or notice, from or on behalf of Buyer, and delivered to Seller is effective 711 when physically received by Seller, my signatory, on behalf of Seller, my named individual of Seller, my representative of Sella, L 11 t'ONTRICTT0a11VANDSEU.REALESf6TE(IAND) 1 PW14 ND RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 18 OF 35, Janice K. Vos Caudill, Pitkin County, CO 712 or Brokerage Finn of Broker working with Seller (except for delivery, after Closing, of the notice requesting mediation described 713 in § 23 and except as provided in § 27.2). - 714 27.2. Electronic Delivery. As an alternative to physical delivery, any docuni including a signed document or written 715 notice, may be delivered in electronic form only by the following indicated methods: []X Facsimile QX Email 716 pX Internet. If no box is checked, this § 27.2 is not applicable and § 27.1 governs notice and delivery. Documents with original 717 signatures will be provided upon request ofany party. 718 27.3. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with 719 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for property 720 located in Colorado. 721 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and 722 Seller, as evidenced by their signatures below, and the offering party receives notice of such acceptance pursuant m § 27 on or 723 before Acceptance Deadline Dale (§ 3) and Acceptance Deadline Time (§ 3). Ifaccepted, this document will become a contract 724 between Seller and Buyer. A copy of this Contract may be executed byeach party, separately, and when each parry has executed a 725 copy thereof, such copies taken together are deemed to be a full and complete contract between the parties. 726 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith, including but not 727 limited in exercising the rights and obligations sal forth in the provisions of Financing Conditions and Obligations (§ 5), Title 726 Insurance, Record Title and OR-Rsc rd Title (§ 8), Current Survey Review (§ 9) and Property Disclosure, Inspection, 729 Indemnity, Insurability, Due Diligence and Source of Water (§ 10). 730 731 1 ADDITIONAL PROVISIONS AND ATTACHMENTS 732 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate 733 Commission.) 734 735 736 737 31. ATTACHMENTS. 736 31.1. The following attachments are a part ofthis Contract: 739 Addendum 1, Exhibit A and Exhibit B 740 741 742 31.2. The following disclosure forms arc attached but are not a part of this Contract: 743 7th 745 746 SIGNATURES 747 B�yc,,S Name: Board of County Commissioners of Pilkin County Buyer's Name: IL✓(- �G���� S/ay�y Buyer's Signature Cale Buyer's Signature Date Address: 53. E um as 3m now Address: HpM CO al6f t Phone No.: Phone No.: Fu No.: I. No.: Electronic Address: Electronic Address: 746 [NOTE: If this offer is being countered or rejected, do not sign this document Refer to ¢ 321 47694d11 CONTRACT TO BUY ANO SELL R"L ESTATE (LAND) Poe 15 of 17 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 19 OF 35, Janice K. Vest Caudill, Pitkin County, CO Seller's Name: See Exhibit A Seller's Signature Date Address: Se. E.hon ator.gmm. p. p.. Phone No.: Fac No.: Electronic Address: Seller's Name: Seller's Signature Date Add,.: Phone No.: Fax No.: Electronic Address: 749 750 32. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected. 751 Initials only of party (Buyer or Seller) who countered or rejected offer 751 1 END OF CONTRACT TO BUY AND SELL REAL ESTATE 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Buyer) Broker ❑ Does ❑ Does Not acknowledge receipt of Eamest Money deposit and, while not a party m the Contract, agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, if the Eamest Money has not already been returned following receipt of a Notice u Terminale or other written notice of termination, Earnest Money Bolder will release the Earnest Money as directed by the written mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared. Broker is working with Buyer as e ❑ Buyer's Agent ❑ Seller's Agent ❑ Transaction -Broker in this tnmsection. ❑ This is a Change of Status. Brokerage Firms compensation or commission is to be paid by ❑ Listing Brokerage Firm ❑ Buyer ❑ Other Brokerage Firm's Name: Broker's Name: Broker's Signature Data Address: Phone No.: Fu No.: Electronic Address: 34. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. (To be completed by Broker working with Seller) Broker ❑ Don ❑ Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the Contract, agrees to conperste upon request with any mediation concluded under § 23. Broker agrees that if Brokerage Firm is the Eamest Money Holder and, except as Provided in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate or otbe, written notice of termination, Earnest Money Holder will release the Earnest Money es directed by the written mutual instructions. Such mlease of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual instructions, provided the Earnest Money check has cleared Broker is working with Seller as a ❑ Seller's Agent ❑ Buyer's Agent ❑ Transaction -Broker in this transaction. ❑ This is a Change or Status. Brokerage Firm's compeawioo or commission is to be paid by ❑ Seller ❑ Buyer ❑ Other C6G tl COMMC T0I1WAND5E110.FALESTATE(L [1) P,.14017 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 20 OF 35, Janice K. Vos Caudill, Pitkin County, CO ]53 Brokerage Finn's Name: Broker's Name: Broker's Signature Date Addoew Phone No.: Fu No.: Electronic Address: CR 11 MWRAGTTO RW ANDSEEE REAEESTATE (LAND) F"17.flt RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 21 OF 35, Janice K. Vos Caudill, Pitkin County, CO ADDENDUM] TO CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THOMAS A. MOORE- 1/6TH INTEREST, CAROLYN W. MOORE- 1/6TH INTEREST, THE KENNETH W. RANSOM TRUST CREATED AUGUST 20, 1991 — 1/3RD INTEREST, THE GEER, JANE ELIZABETH TRUST CREATED OCTOBER 31, 1991 — 1/6TH INTEREST AND THE MARSHALL GEER III DECLARATION OF TRUST DATED OCTOBER 31, 1991 — 1/6TH INTEREST, AS SELLER AND THE BOARD OF COUNTY CO MI5 IONERS OF PITKLN COUNTY, COLORADO AS BUYER DATED s 2 V I Y Thi Addendum is made a part of that certain Contract to Buy and Sell Real Estate dated S 2 / ("Contract") between the Board of County Commissioners of Pitkin County, Colorado, as buyer ('Buyer") and Thomas A. Moore, Carolyn W. Moore, the Kenneth W. Ransom Trust created August 20, 1991, the Geer, Jane Elizabeth Trust created October 31, 1991, and the Marshall Geer III Declaration of Trust dated October 31, 1991, as seller ("Sellers"), with respect to property known as Pitkin County Parcel Number 2643-272-00-017, County of Pitkin, State of Colorado ('Property"). In the event of any conflict or inconsistency between the provisions of this Addendum and the Contract, the provisions of this Addendum shall govem and control. 1. Improvement Survey. On or before the Off -Record Matters Deadline, Buyer shall obtain a current Improvement Survey of the of the property certified by a licensed Colorado surveyor for the express benefit of Seller, Buyer and the Title Company, depicting all property corners, improvements, casements and rights of - way, driveways, parking areas, walls, fences, encroachments on or off the Property, utility lines and utility installations, and restrictions of record. Cost of the survey shall be home by Buyvr. The Improvement Survey shall be in form and content sufficient to cause the title company to issue an endorsement to its title commitment agreeing to delete from Schedule B (Section 2) of its to -be -issued title policy standard printed exception Nos. 1-3 at no cost to Buyer. In the event the Improvement Survey discloses matters which in the Buyer's opinion constitute defects in the merchantability of Seller's title, Buyer must give Seller written notice of such unsatisfactory title condition(s) no later than the Title Resolution Deadline. if Buyer in fact gives such notice to Seller in a timely manner, the provisions of § 9.2 of the Contract shall apply thereto. If no such notice is timely given, Buyer shall be deemed to have waived any objections to matters shown on the Improvement Survey. 2. County Approval. Notwithstanding the signature hereto by the Open Space Director recommending approval, the obligation of Buyer to perform hereunder is expressly conditioned upon the adoption by Buyer of an ordinance authorizing the sale of the Property to Buyer pursuant to this Contract. In the event such ordinance is not duly adopted by Buyer within sixty (60) days following the date of this Contract or any extension thereof as the patties may, in writing, agree, either Seller or Buyer may, upon written notice to the other, terminate this Contract whereupon Buyer shall be entitled to a prompt return of all Earnest Money paid. In the event such ordinance is timely adopted. Seller shall, at the request of Buyer, re -execute this Contract by the signature of the Chairman or Vice -Chairman of the Pitkin County Board of County Commissioners. 3. Standard Schedule B-2 Exceptions. Seller shall furnish to Buyer at their sole expense an endorsement to delete standard exceptions 1-6 on Schedule B-2 of the Title Insurance Commitment. RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 22 OF 35, Janice K. Vos Caudill, Pitkin County, CO 4. Additional Documents. At Closing, Seller shall execute and deliver such documents as shall be necessary to transfer and convey to Buyer, free and dear of all liens and encumbrances, all right, title and interest of Seller. 5. Interest on Earnest Money. Any and all monies paid by Buyer prior to closing shall be placed in an insured, interest bearing money market -type account with a local commercial bank with all interest thereon to accrue for the benefit of Buyer. Whether or not Buyer shall ever be in default under this Contract resulting in a forfeiture of its earnest money, Buyer shall nevertheless be entitled to retain, as its sole and separate property, all interest earned on said earnest money. 6. Notices. Any notice, demand or document which either party is required or may desire to give, deliver or make to the other party shall be in accordance with § 27 of the Contract to the following: To Buyer: Board of County Commissioners of Pitkin County 530 East Main Street, 3'" Floor Aspen, CO 81611 Facsimile No.: (970) 920-5198 c/o Dale.Will@oitkincounty-corn With copy to: John Ely. Pitkin County Attorney 530 East Main Street, Suite 302 Aspen, CO 81611 Facsimile No.: (970) 920-5198 John.ElvC@I)itkincounty.com To Seller: Thomas A. Moore, Carolyn W. Moore, The Kenneth W. Ransom Trust Created August 20, 1991, The Geer, Jane Elizabeth Trust Created October 31, 1991, and The Marshall Geer III Declaration Of Trust Dated October 31, 1991 C/O Tommy Moore 1309 Mclain Flats Rd. Woody Creek Colorado 81656 With a Copy To: John T. Kelly Esq. 210 S. Galena #31 Aspen Colorado 81611 Facsimile no. 970-925-7423 Any notice, demand or document so given, delivered or made by United States mail shall be deemed to have been given three (3) days after same is deposited in the United States mail as a certified matter, addressed as above provided, with postage thereon fully prepaid. Notice by facsimile, e-mail or intemet delivery shall be deemed given upon receipt of a confirmation by sender and notice by personal delivery shall be deemed given when received. RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 23 OF 35, Janice K. Vos Caudill, Pitkin County, CO 7. Miscellaneous. (a) Saturday. Sunday. or Holiday. If any time period referred to in this Contract shall end on a Saturday, Sunday or legal holiday, such time period shall automatically be extended to the first regular business day thereafter. (b) Controlling law. This Contract shall be construed in accordance with and governed by the laws of the State of Colorado. The parties hereto agree and intend that the proper and exclusive forum for any litigation of any disputes or controversies arising out of or related to this Contract shall be the District Court for Pitkin County, Colorado. For purposes of any litigation, the parties consent to the chosen forum for purposes of jurisdiction and venue. (c) Counterparts. This Contract (or any amendments, modifications or extensions hereof) may be executed in several counterparts and, after execution and as executed, shall constitute an agreement binding on all of the parties, notwithstanding that all of the parties are not signatories to the original or the same counterpart. (d) Further Assurances. Each of the parties agree to execute, acknowledge, deliver, file and record, or cause to be executed, acknowledged, delivered, filed and recorded such further instruments and documents and such certificates, and to do all things and acts as the other party may reasonably require in order to tarty out the intentions of this Contract and the transaction contemplated hereby. (e) Survival. All of the warranties and representations contained in this Contract of an ongoing nature or intended to survive shall survive the actual closing of the transaction contemplated thereby. (f) Construction. No provision of this Contract shall he construed against or interpreted to the disadvantage of any party by reason of such party having or being deemed to have requested, drafted, required or structured such provision. It is the intention of the parties that the 'party who employed the scrivener to prepare this Contract not be prejudiced by virtue of such act, nor shall tilts Contract be construed against such party by virtue of its actions in retaining the scrivener. (g) Attorneys Fees. In the event of any action for breach of, to enforce the provisions of, or otherwise involving this Contract, the court in such action shall award a reasonable sum as attorneys' fees to the party who, in light of the issues litigated and the court's decision on those issues was the substantially prevailing party in the action. If a party voluntarily dismisses an action, a reasonable sum as attomeys' fees shall be awarded to the other party. RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 24 OF 35, Janice K. Vos Caudill, Pitkin County, CO EXMBIT A 1.) Thomas A. Moore —1/6th interest 2.) Carolyn W. Moore-1/6th interest 3.) The Kenneth W. Ransom Trust created August 20, 1991— 1/3rd interest 4.) The Geer, Jane Elizabeth Trust created October 31, 1991-1/6th interest 6.) The Marshall Geer III Declaration of Trust dated October 31, 1991-1/6th interest RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 25 OF 35, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT B BY: THOMASA.MOORE THOMASA.MOORE STATE OF I ) ss. COUNTY OF PsT7L1 1.f ) The foregoing instrument was acknowledged before me this day of -'t'Pr7i C , 2014, by THOMAS A. MOORE. (SEAL) SUSAN CAPIEL Notary PUCIIC state of Colorado Notary l0 20144006373 My Commission Expires Feb 7, 2018 Cl� dWa Notar Public My Commission Expires: RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 26 OF 35, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT B BY: l '&4f A), CAROLYNWLMOORE CAROLYN W. MOORE STATE OF COLI QaPV ) ) ss. COUNTY OF 1 tZ"TV N ) The foregoing instrument was acknowledged before me this day of .. Ainn 1 12014, by CAROLYN W. MOORE. (S E A L) SUSAN CAPIEL WWII` slats of Colorado Notary Public V Noury IO 20144008373 d M Oomm111be ir11 Feb 7, 2018 My Commission Expires: `% 0 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 27 OF 35, Janice K. Vos Caudill, Pitkin County, CO 2014.04-09 11:08 Watts Fargo Bank, NA 3039373393 » P 1/1 FXMIT B I THE KENNETH W. RANSOM �TRUST CREATED AUGUST 20. 1411 for The Kenneth W. Ransom Twt nrea¢d aagaxt 20, Is9i STATE OF f � ) zx. COUNTY OF• &�hVsn ) The imu fomseing um4nt Wm =kn"kdscd befom me Nu ll'f day of q ct, t �. 2014. by k P n r okh .--Cm x rs\ for The Kenncth W. Rmszom Tmsl uemed August 20. 1997. (SEAL) NESTOR PALMA �4/,f/I,�V1 to NOTARY PUBLIC Notary Public STATE OF c0wmm NOTARY 10 20124085703 My Commission Expims: m a MY COMMISSION E)(PiRES APRIL n. 2017 RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 28 OF 35, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT B The Marshall Geer 111 Declaration of Trust Gl)Trustee Created October 31,1991 By_ for The Marshall Geer III Declaration of Trust created ober 31,1991. STATE OF a1'13?/A'/k't 1 )SS. COUNTY OF /%(Q��'7 I' The foregoing instrumentwassaa�cknowI ded bgfo/r� me this day of / ; l 2014, by _//�///5!'//I�� lKc'L-7L7as Trustee for The Marshall Geer III Declaration of Trust created October 31, 1991. (SEAL) NANCY ROSAEES 1/! I • • NOI." poli, - Mhons My Comm. Fspues Jun 1s. n14 Notary public My Commission Expires: RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 29 OF 35, Janice K. Vos Caudill, Pitkin County, CO EXHIBIT B The Geer, lane Elizabeth Trust created October 31, 1991 y' tPQ, ey C, 11�,bJ(! 'I�aI Trustee for the Geer, lane Elizabeth Trust created October 31, 91_ STATE OF LI )S5. COUNTYOF�M %I(if'� The foregoing instrument wl as a ck-n�owl�d�ged before me this�day of /r 2014, by, 1�,Pe SL as Trustee for The Geer, Jane Elizabeth Trust creed Odober 31, 1991. (SEAL) NANCY ROSALES � Notary Rook-AriIDN Nob�Poblic .1_.w..I MifKOP]CWMP E.,,,,y Jun 11. 2011 p/ ZG . ;''M, Comm Expires: d U'//�// My Commission Exp' RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 30 OF 35, Janice K. Vos Caudill, Pitkin County, CO 7 9 9 10 11 12 13 i4 15 16 17 18 19 20 21 22 23 24 25 The pdnW portions ofNrs form, except differentiated additions, have bran approved by Ne Colorado RW Estaue Commission. (AFA1443)(Mandato, 1-I4) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TA% OR OTHER COUNSEL BEFORE SIGNING. AGREEMENT TO AMEND/EXTEND CONTRACT Dale: Z1 /z C1 / V 1. This agreement amends the contract dazed 05f292014 saaE ihaA (Seller), and (Buyer), relating to the sale and purchase of the following legally described real estate in the County of 1nxm C010nedlO li of Lots 11. 22.and 23 including Met portion of Lot 11 which lies WLY of the center line of Ne Roadw Fork River previously excepted in a correction deed Bk 503 Pg 213 subject to a five It sn uare of land in Lot 11 leased to Me USA Bank 297 Pg 075480 Sk 553 Pg I W. all looted in S27 TRS R B5W, County 1t Piton. State of Colorado. Approximately M acres. known as No. (Property). Street Address City State Zip NOTE: If the table is omitted, or If any item is left blank or u marked in the "No Change" column, It means no change to the corresponding provision of the Continuer. If any item is marked in the "Deleted" column, It means that the corresponding provision of the Contract to which reference is made is deleted. § 3. DATES AND DEADLINES. [Note: This table may be omitted ifinapplicable.] Item No Reference Event Data or Deadline No Chane Delded 1 § 4.3 Alternative Forrest Money Deadline saa reams caw 2 § 8.1 Tine Record Title Deadline oemnola 3 § 8.2 Record Title Objection Deadline oa14rzo14 4 § 8.3 Off -Record Title Deadline 07MIM14 5 § 8.3 Off -Record Title Objection Deadline oal144m4 6 § 8.4 Title Resolution Deadline osm2014 7 § 8.6 Right of First Refusal Deadline J 8 7.3 Owners' Association Association Documents Deadline d 9 7.4 Association Documents Objection Deadline ✓ 10 10.1 Seller', Property Disclosure Seller's Property Disclosure Deadline ✓ Loan and Credit 11 55.1 Loan Application Deadline ✓ 12 § 5.2 Loan Objection Deadline 13 § 5.3 Buyer's Credit Information Deadline .� 14 § 5.3 Disapproval of Buyer's Credit Information Deadline ✓ IS § 5.4 Existing Loan Documents Deadline Ifi § 5.4 1 Existing Loan Documents Objection Deadline ✓ 17 65.4 Loan Transfm Approval Deadline / 18 4.7 Seller or Private Financirn, Deadline. 19 6.2 Appraisal Appraisal Deadline 20 6.2 Appraisal Objection Deadline ✓ 21 9.1 Survey Current Survey Deadline mntrsot4 22 9.2 Cumnt Sury Ob'edicn Deadline oaMrzm4 AE41d11 AGREEMENTTOAMKN TENDCONTRACT Pgataft RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 31 OF 35, Janice K. Vos Caudill, Pitkin County, CO 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 4 42 Item Na Reference 1 Event Date or Deadline No Change Deleted 23 693 Current Sumer Resolution Deadline w21=14 24 § 102 Inspection and Due Diligence Insiomlion Objection Deadline ✓ 25 § 103 Inspection Resolution Deadline ✓ 26 § 103 Property Insurance Objection Deadline ✓ 27 § 10.6 Due Diligence Documents Delivery Deadline ✓ 26 § 10.6 Due Diligence Documents Objection Deadline ✓ 29 610.6 Due Diligence Documents Resolution Deadline ✓ 30 010.6 Environmental Inspection Objection Deadline CBS2 3 4 ✓ 31 § 10.6 ADA Evaluation Ob'xtion Deadline CBS2 3.4 ✓ 32 010.7 Conditional Sale Deadline ✓ 33 6 11.1 TenantEstoppelStatementsDftdlineCB92,3.4 34 112 O6'im Deadline CBS2 3,4 Teomd Esto Stalcmmts ea 35 123 Owingand Possession clos' Date aertermu 36 17 Possession Dere oe¢trm+4 t 37 17 Possession Time ✓ 3. Other dates or deadlines set forth in the Contract are changed as follows: RE: Item No. 1 (Altemative Earnest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. 4. Additional amendments: We All other terms and conditions ofthe Contract remain the same. This proposal expires unless accepted in writing by Seller and Boyer as evidenced by their signatures below and the offering party W this documew receives rmtice o'such soceptance on or before Date Time Bwsd afc.L q Comnisdaners of PBM co my Buy." Nesse: Buyer's None: '? A iK Buyer's SigeNre bavS Sella's Name- saawnn+v�.sn emman.bmu. a.am 1 Buyer's Signature Date T/1,,w�as P.uloce,E Seller's Name: �-d-SI=4/L &I Cly w• �t coal nidi �y /y`l— �a. �� —V — ]4 Seller's Signillurce Date Seller's signature Date 43 R9:744,'13:ri31T5 �J�'S e�"�artiLL�Ial RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 32 OF 35, Janice K. Vos Caudill, Pitkin County, CO I)tipiad pueomofm6:ms"` . "_•.ddoo h bem q{ay.rd tithe fobmdoRd EAm Commisvo.. (AFAISll7 O•Imdeeq 1-1el 'FACS FOAM RASI,o,, MLEGAL C'ONSEQUENCFs AND THE F� SROIILD CONSULT LEGAL AND TA OR ITrAEA OODN�1. BEFORE 9GNING AGREEMENT TO AMEND/EXTEND CONTRACT t. This gpcmat.mmdc Dem: June 24. 2014 ,.tcsm ata itt.Nd,twvty efe. rr,vwdme Ao.mp Foh RMr wsAmn OPo21J suhj.tl t.•MR MULStud Flot11kuaed-d-W'BA B+rtY]YfPo b Sn T95RBSW. Camlf lPiIXn. Sbb aComdo. Apprmlm.Yly 3A.ae Imovn u No. (may)' Stmcl Add. City zip NI . Rthe tahle h omhted, or Rmy it®Glen M.oh ar b etarhd N the'No Ch.rge' mlumv. B meeR. Ao cbzav to Ne tarrapo.dioe prBd.lo. of the C..Me If .Ry it,. h merhed In 0e •Ddeed' ro1-1 It — th.t the mrrnpwdioe ptvelsbe of the C.Uset t e M& refermee D made h deleted. 2 h S DAlE4 AND DEADLINES. INae:'hu mble t®y h. ®imcd ifivspplie.bl�] Arwt+u AQrL.merro A.tr.�rx'reNp matnwa .-rt ra MENEM ...... • ... no MEN o . ■■■■■■ ME mom MUEori ■■■■■■ ■M ■■■ MENUM ....... _ ..• ��■m■F■Dp■on.�■B __ INIZEMEM ONE .. —■■■■0■ :......., . ��■■■■n■ MIN ■■■■o■ MIS EMMUM MIE ENSUE SIM MIN MIUMMUM MIN ■■■■o■ INE m ■■M■n■ NZE MM3-- MUM IME WIN '^tom :'......i■iiii Arwt+u AQrL.merro A.tr.�rx'reNp matnwa .-rt ra RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 33 OF 35, Janice K. Vos Caudill, Pitkin County, CO U 3) n n 3a 31 31 33 U 35 M 31 39 39 a tl o eow arcwir caa.mvana orpmalca+ar Bu3ds Nsmc: BuyelsNme: Buyats sigomue DM Buye ssigo 3. O%erdetn a dadlion sed firth mthe Camra � eh®ged n fogows: RE Item No. 1 (Alternative Eamest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. t AddiYwd ..xl : rda Aa aWutams and D dib. ofth. Comsa=0" tie.. l pmpwsl c pi. wins a .pwi io w dng by sella and Bwy ss evidmmd by ern sigoamvi below otd me off h puny m this docw nedva mea ofswhecceDU= =or bcfo 13m r . Marshall Geer III rt� to for Se0�sNmc FiealtlAtviwrl L�86� �� Jane M. Geer Trustee for Jane M Geer W1 GBOF sciia•sNme: Trust 10/31191 Seha1 Sigmnve Dac s sigoame _ V io " � l PMt Form Char Farm Antill. AC�Tn�Cb!YIMIIACT M1W34l «® Nis En m■m• ....., �■■■■■■ i 3. O%erdetn a dadlion sed firth mthe Camra � eh®ged n fogows: RE Item No. 1 (Alternative Eamest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title commitment. t AddiYwd ..xl : rda Aa aWutams and D dib. ofth. Comsa=0" tie.. l pmpwsl c pi. wins a .pwi io w dng by sella and Bwy ss evidmmd by ern sigoamvi below otd me off h puny m this docw nedva mea ofswhecceDU= =or bcfo 13m r . Marshall Geer III rt� to for Se0�sNmc FiealtlAtviwrl L�86� �� Jane M. Geer Trustee for Jane M Geer W1 GBOF sciia•sNme: Trust 10/31191 Seha1 Sigmnve Dac s sigoame _ V io " � l PMt Form Char Farm Antill. AC�Tn�Cb!YIMIIACT M1W34l RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 34 OF 35, Janice K. Vos Caudill, Pitkin County, CO 7 9 t0 11 11 13 14 15 16 17 18 19 20 21 ZZ 23 74 IS Re Prm�Wrtims afthia Form. asryt '"'^Wdirivv4 hive ban appm.wgthe Cobrdo Rwl Fsroc Comrvicsiev (AFAId-13)(MeMmp 1-147 THIS FORM HAS WPORTANF LEGAL CONSEQUENCES AND TIO: PARTIES SHOULD CONSULTLEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. AGREEMENT TO 1. This e®eemem emends the Mntmm (Buyer),relmin8mthesaleandpuNiucotimmHOw lcgmlyuescnvevremesmemmewmryor..—.. Colorado:Allmtam 11,22,aMM MGNI9 MatPmtbnof Lot 11 whi& ti's Wy a M carvermr a tia Rowkv f Rbwrpmaim* ex=pWd M•mvadlmdeaf Bk6 Pg213.ub,e tonfwaR rquara of hrE hldt1 headmMa USABank207 Pp 815980 BF 653 Pp 103, colla shd In 52)T95 RBSW. CounH'd PBk'vy St+b of CdaMa. AppmmdmemN 36 emea. kmwv m No. (Pmpmry} Street Address city Stam Zip NOTE: Uthe tlhk fa emRted, or R avy nem is kR bkvk or is marked m the "Nv CWoge^ ealumv, k mnva va duvge m the mrrmpa , ProWko of the Cavtnct if avy item Is matkd In the 'Deleted' mlamv, It cons that the ccmWntfftg pmWk of Ne Centma m which refermm Ic made u Meted 2. 63. DATES AND DEADLINES (Note: This mbk may be omitted ifimppliraWv] I[em N. Wfe. ct Evem Data or Dndlive Mo 4bav Deleted I 43 Altmmtitc Fstmst Mo Deadline tw xw e,m. Title 2 63.1 Rcard Title Dcdl'ux mmrzou 3 69.2 RamMTilc ObjectionD Iine ad14M14 4 §83 OfLRecord Tide Deedlim 0MV014 5 83 OfGRz dTitk Obectiov DedHm den�mu 6 8.4 Tule RAsolmioaD cMim onn1rm14 7 8.6 RWIc.f Fint Ra,.svl Dmdlinc Owxim'A.I.dvv. 6 673 Amcietiov Doammvts Deadline 9 §7A Asvxistion Dvmmems Objection Dedlim Selkr'sP Disdmum 10 § 10.1 Sclice. Pmp,,ty Disdvsmn Deadline Lvov and Credit 11 § 5.1 L A Iiration sdlirc 12 45.2 Wen Ob'atioo Dmdtine IVI 13 §53 Bce. C,.& Infmlvmion Dmdlive 'l 19 § 53 D' afB 'e Cmdu [vfvrmatiov Dedbm IS 15.4 Exit L. D=ew sDcdl-mc 16 §54 Emdvin [em Dvcvmms Ob'mxim Dedlivc 17 § 5.4 Lan T.ferA ,.,dI Iicc —197 64.7 SeOm of PcP kFmmcmg Dedlbw ✓ Ap,r l �'•.Y». �'q. 19 661 Appraisel V, 20 662 Appmisal Ob'atim Deadline 21 69.1 Sury Cm S D adline 9' mnlmu 22 I § 92 I G.tS Objection Dedline van4not4 A14111LAGIEC6lTNf 10 A[.ffNdPXTFND C'OhTRAR Pfye1101 ' 1` 1 _ RECEPTION#: 613068, 09/03/2014 at 10:46:20 AM, 35 OF 35, Janice K. Vos Caudill, Pitkin County, CO 26 27 29 N 30 M 32 33 A 33 M 37 3E 41 39 40 42 43 ltw No. Rdte . Event Dateor DmdBne No Chs a Deleted 23 §93 CometSw+ Rcsolodon Deadline aeavv+4 Im on sod Dee ir nett 24 li 101 Ingotio. Ob"ectioo Deadline 2y § 103 1 "ov Resolutioe Deadline 26 6103 Property lesmaoce Objection Deadline 27 11 10.6 Dm Dili Doa®mts De' Deadline I It 610.6 Dec aligenoe Domneou Ob'ecdon Du line .� 29 § 10.6 Due DIB Doatments Remlmion Deadline 30 6 10A EevwnmenW hupectim Objection Dadlioe CTS?,t 4 ✓ 3110.6 ADA Evalaa6aa Ob Dead@a CBS 3 4 32 610.7 Conditional Sale P.M.. 37 f 13.1 Tenant EttoppelSvsanents Dndliee CBS2 3 4 34 §112 Tempt I Snteet= Ob'emloe D dline CktS2, 34 Oosb and Possessbe"- 35 § 123 36 617 P...ein Dere 4°�arm1e 37 17 Po.iw Time 3. Oihn dales or dmdl:•—set foM m the Conhux eR clanged as folbas: RE: hem No. 1 (Aft emative Earnest Money Deadline) - No more than 10 days after Pitkin County's Acquisition Manager receives the title wmmitment. 4. Addhioml ame tch tt: nia All odictrmu and condkiom oftlz Gannet revuin dse same. This Psopossl e*,e, wens r pod in writing by Selle end BWeru esideneed by thein aigmcum below sed the offabsg pony m this dacmnent rtoeivxs intim ofsueb eccepdnce ae or befom pate Time Buyer"Nam: Bow of Canty Lonvnsvoronalvmmi Cwnry. 's Sip-, Doo $ells Name: Sw FifiIYANn•n ar F<BaBbywae+P� seller's Sigesmve Dere Boyer's Name: Buyer's sigiWme pp � ette <w S-Uet"Name: y�q� l/leW_I w%n sei e' Sigmtwe —. Dem Gear Form Print Forth wGt111 AeesYam+rm4ameMFre+v W!rrRAR Pw2d2