HomeMy WebLinkAboutbocc.con.074.2017-BOCCRECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 1 OF 24, R $0.00
Janice K. Von Caudill, Pitkin County, CO
CONTRACT#J_NW
AN ORDINANCE OF TAE BOARD OF COUNTY COMMSSIONERS OF PITHIN
COUNTY, COLORADO, AUTHORIZING ACQUISITION OF THE FARRIS TRAIL
EASEMENT
ORDINANCE NO. dgZ -2017
RECITALS:
1. Pursuant to 30-35-301 C.R-S., the Board of County Commissioners C'BOCC') of Home
Rule Counties is authorized to make and publish ordinances for carrying into effect or
discharging the powers and duties conferred upon such counties by law and as seems
necessary.
2. Pursuant to Section 2.81 of Ore Home Rule Charter, the BOCC is authorized to take
official action by Ordinance for certain matters where action is prescribed pursuant to the
Colorado Revised Staines as amended.
3. The Voters ofPitkin County and the Pitkin County Commissionasestablished an Open Space
and Trails Ford for the purposes ofpmserving and providing open space and hails resources,
and established an Open Space and Trails Board of Trustees to guide the expenditure of those
foods.
4. The Open Space and Trails Program is charged with providing recreational opportunities
throughout Pitkin County.
5. The Farris Trail Easement property (the'Prop uy") owned by Douglas and Dorothea Faris
and legally described as attached in Exhibit possesses scenic, wildlife, and natural
recreation activities.
6., The BOCC finds that adoption of this ordinance is necessary for the immediate
preservation of the public health, safety and welfare of the citizens of Pitkin County and
therefore declares this ordinance and legislation to be effective immediately upon adoption.
7. On January 5, 2017, the Pitkin County Open Space and Trails Board recommended that the
BOCC approve the proposed Contract and Ordinance.
8. The Chaim,Chart's designee shall be authorized to sign the documents necessary to complete
this transaction in subsummlly that form approved by the County Attorney.
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 2 OF 24,
Janice K. Vos Caudill, Pitkin County, CO
AT: BOARD OF COUNTY COMMISSIONERS
(7
By�IBM 111IL90 BY in
Je ette Jones - - George New ;-ao, Cha
D ty County CI k
Date
APPROVED AS TO FORM. MANAGER APPROVAL
John Ely, Caun , ey'
Gary Tenenbaum,.::.:.
DuWor Open Space & Trails
on eacock, County Manager
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 3 OF 24,
Janice X. Vos Caudill, Pitkin County, CO
EXHIBIT A
A 30 FOOT PUBLIC TRAIL EASEMENT SITUATED IN LOTS 3 AND 4 OF SECTION 14,
TOWNSHIP 8 SOUTH, RANGE 88 WEST OF THE SIXTH PRINCIPAL MERIDIAN,
COUNTY OF PITKIN, STATE OF COLORADO, SAID EASEMENT LYING EAST OF THE
EASTERLY RIGHT OF WAY OF PRINCE CREEK ROAD AND NORTHERLY OF TYBAR
ROAD AS CONSTRUCTED AND IN PLACE. SAID EASEMENT BEING THE WESTERLY
30 FEET OF THAT TRACT OF LAND DESCRIBED IN BOOK 580 AT PAGE 897 OF THE
PITKIN COUNTY CLERK AND RECORDERS OFFICE, SAID EASEMENT BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID TRACT OF LAND DESCRIBED
IN BOOK 580 AT PAGE 897; THENCE NORTH 89°58'51" EAST ALONG THE
NORTHERLY LINE OF SAID TRACT OF LAND 30.06 FEET; THENCE LEAVING SAB)
NORTHERLY LINE SOUTH 03°35'00" EAST BEING 30 FEET EASTERLY AND
PARALLEL TO THE WESTERLY LINE OF SAID TRACT OF LAND 482.48 FEET TO A
POINT OF THE SOUTHERLY LINE OF SAID TRACT OF LAND; THENCE NORTH
60°46'05" WEST ALONG SAID SOUTHERLY LINE 35.70 FEET TO THE SOUTHWEST
CORNER OF SAB) TRACT OF LAND; THENCE NORTH 03°35'00" WEST ALONG THE
WESTERLY LINE OF SAID TRACT OF LAND 465.00 FEET TO THE POINT OF
BEGINNING. SAID EASEMENT CONTAINING 14,212.1 SQUARE FEET AS DESCRIBED.
i4'
`a � `� � '� �.: ..
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 5 OF 24,
Janice K. Vos Caudill, Pitkin County, CO
1The primed paman, offlah form. except digceadvvd addidme.have been approved bytheColorado Real EmteCummiuimi---------
2 (CBSd-to- 11)(Mandars, l-12)
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR
5 OTHERCOUNSELBEFORESIGNWG.
6
1 CONTRACT TO BUY AND SELL REAL ESTATE
g (LAND)
9 (® Property with No Residences)
to (0 Property with Reddences•Residential Addendum Attached)
u
I'- Dale: December 16. 2016
13 AGREEMENT
14 1. AGREEMENT. Buyer, identified in § 2. 1, agrees to buy, and Seller, identified in § 2.3, agrees in sell avail easement ever
IS As A ape !y described below on the terms and conditions an tbM in this contract (Contract).
16 2, PARTIES AND PROPERTY.
17 11. Buyer. Bu,eo,BmmdofCau IC P K C C 1 a0 ,will rake title m a Vail easement es tope
18 properaY described below. ^
19 2.2. Assignability and Inurement This Contract ❑ Shall ® Shag Not be assignable by Buyer without Seller's prior
20 written consent. Except as so restricted, this Contract shall inure to the benefit of and be binding upon the heirs, personal
21 representatives, successors and assigns of the parties.
22
23 2.3. Seller. Seller, DOUGLAS L PARRIS AND DOROTHEA A. PARRIS
24
25 14. Property. The fail easement is described u3121eel wide and approximately 465 few long, adjacent to the western,
26 aomllem, and tnnhem property boundaries as depicted on Exhil,it A attached hereto, (dw'Pnpeny') and is a portion of the property
27 owned by the Sellers described as 42 Tybar Reach BOA and 40 Tybar Ranch Road, Carbondale, Colorado, 81623, Assessor Parcel
26 No. 246314200004 in [be recaNs of the Pitkin County Assessors Office.
29
30 Known as u_ponion of 42 Tvbar Ranch Road and 40 Tybar Ranch Road Carloads], Colorado, 81621
31 Strkt Address City State Zip
32 Bimxeseai
33 P+wa•ir
34 2.5. hmluaka. The Purchase Price includes the following items (Inclusions): None
35 2.5.1. Fixtures. All fixtures attached to the Pruperty on the date of Nis Contract.
36 Other Fixtures: Nam.
32
38 fishy fixtures are attached m the Property after the date of this Contract, such additional fixtures are also included in the Purchase
39 Price,
40 2.5.1 Personal Property. ]f on the Progeny whether auoched or not on the dme of this Comrace none.
41
42 Other Personal Property: none.
43
da The Personal Property to be conveyed at Closing shall be conveyed by Seller free and clear ofall mars (except personal
45 property razes for the year ofClosing),hens and encumbrances, except none. Conveyance shall be by bill ofsale or other applicable
46 legal instrument.
47 2.5.3, Trade Futures. With respect to trade fix tures. Seller and Buyeragrce as follows: Nor a,efmble.
40
49 4b, Tde Fail„a: mea
50
51
Nv. CflG.ap.l1. CONIRACTTO atN A.W SBW,RF.pL E4fp'IE (LAND P IMI)
RECEPTION$: 635819, 01/31/2017 at 04:12:34 PM, 6 OF 24,
Janice K. Von Caudill, Pitkin County, CO
NNW
59 "54a eWd Tep BS TeJ
61 and other __ _ _ ___ __ __ __ _ _e _ _p
62 2.5.45. Other Righ6:
63
64 2.55. Growing C.ps. With respectta growing crops. Seller end Buyer agree es follows: nor applicable
65
66 26. Exclusions. The following items are excluded (Exclusions): none.
67
68 3. DATES AND DEADLINES.
Item No.
Reference
Event
Dateor Deadline
1
§ 4.2
Alto.... ve Eames, Mo., Deadline
3 bmi.s Jays form BOCC Second
Reading approving this Commas.
See Addendum P.,aUqph 11.
Title and Association
2
§7.1
Record Tide Deadline
bounty
27.2017
3
§7.2
Exc tions Request Deadline
Januar
27,2017
4
§8_I
Recon! Title Obbcdon Deadline
February
10, 2017
5
§II2
Off -Record Tide Deadline
January
27, 2017
6
§8.2
Off- Record Title Objection Deadline
February
10. 2017
7
§8.3
Tale Resolution Deadline
February_
17,2017
8
§7.3
As'w,unioo Documents Deadline
N/A
9
1 § 7.3
1 Association Documents Objection Deadline
N/A
10
I §8.5
1 Rh htof First Refusal Deadline
N/A
Seller's Pro rt Disdosore
1 I
§ 10.1
Sellers Prd en Disclosure Deadline
Januar
27, 2017
Loan and Credit -
12
§ 5.1
Loan A !kation Deadline
N/A
13
§ 5.2
Loan Common, Deadline
N/A
14
§ 5 3
Bu er's Credit Information Deadline
N/A
IS
95.3
Di. rood of Bu Ws Crecla Jnforntstion Deadline
N/A
16
§54
Existing Loan Documents Deadline
N/A
17
§5.4
Existin Loan Documents Objection Deadline
N/A
_
18
§5.4
Loan TransferA Approval Deadline
N/A
_
A ad
19
46.2
As nieal Deadhen
N/A
20
§6.2
A sisal Objection Deadline
N/A
Sory
21
9.1
Cunen, Sure.Deadline
January
20, 2017
22
92
Current Sm�ey Objection Deadline
Febmar
3,2017'
fni ection and Due Ddi easce
23
410.2
Inspection Objection Deadline
Fcb,.y
1, 2017
24
410.3
Inspection Resolution Deadline
February
8, 2017
25
410.5
Property Insurance Objection Deadline
N/A
26
§ 10.6
Due Dilience Documents D Irwr, Deadline
N/A
_
27
§10.7
Due Diligence Documents Objection Deadline
N/A
28
§I0.8
Environmental Inspection Oblation Deadline
February
1, 2017
29
§10.8
ADA Evaluation Objections Dead line
N/A
No.®5310-IL CONIRpCT IYIBOY AND SELL RF;pL PSIAfE 1LAlN1 P e2d1I
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 7 OF 24,
Janice R. Vos Caudill, Pitkin County, CO
69 Note: Applicability of Terms.
to Any box, blank or line in this Contract left blank or completed with the abbreviation "N/A", or tbe amid "Deleted" ..as such
71 provision in Dates and Dendbnn(§3), including any deapjire is not applicable and the corresponding provision of this Counsel
72 to which reference is made is'deleted.
73 The abbreviation "MEC" (mutual execution of this Conurran means the date upon which both parties have signed this Contract.
74 4. PURCHASE PRICE AND. TERMS.,
75 4.1. Price and.Ternu. The Purchase Price act tam, below shall be payable in U.S'. Dollars by Buyer as follows:
76 4.2. Earnest Money. The Eames, Many set fond in this section, in the. form of "nal check or wire transfer, shall he
77 payable to and held by Lad Title CC (funcast Money Halder), in its trust account, on behalf 'of both Seller and
78 Buycr The barren Money deposit shall be tendered with this Conuam unless be parties matually agree to to AfternatIv. Eru.t
79 Money Deadline(§3)for its payment if Earnest Money Holder is oth., then the Brokerage Firm identified in§33 or§'34, Closing
80 Instructions signed by Buyer, Seller and Earnest Money Holder most be obtained on or bcrom delivery of Earrical Money to Ernest
81 Money Holder. The panes authorize delivery of the Eames, Money deposit to the company conducting the Closing (Closing
an
82 Compy); if any, at or before Closing ;,;-F,ae.War has. og,eada -- ---
8J ems.
84 eras-agre�inate tiFw, • Pines
85 _:
a
5
86 4.2,1.Altermtive Extravert M ., Deadline. The deadline for delivering the Earnest Money; if the, him car the
87 time of tender of this Contract is as set forth as the Alternative Earnest Money Deadline (§ 3).
88 4.2.2. Return of garment Mane,. If Bay, has. Right 1. Terminate rand timely termmares. Buyer shall be entitled
89 in the return of Earnest Money es provided in this Carbon, If this Contract is terminated as set foch'in§ 2S end, wrap( as provided
90 in12?if the Earnest Money has not already been returnedfollowing receipt of a Notice to Terminate, Seller agrees to execute and
91 rcmrdko Boyar or Broke, working with Buy.,, wii«en mutual instructions, i.e., P rnest Money Release form, within three days of
92 Seller's receipt of such form,
93 4.3. Form of Foods; if. of Payment, Funds Available.
94 4.3.1. Grad Funds. All amounts payable by: the parties (Closing including any ton proceeds. Cash at Closing
95 andde ing nab, shall be in fundsihamomply with allapplicabl C 1 ❑ 1 s,in I d ,clevirrinc mouravirfandsectifict3carack,
96 savings and loan teller's check and cashier's check(Oeod Funds)
97 4.3.2. Available Funds. All funds required to be paid ar Closing or as otherwise agreed in writing between the
98 patties shall be timely paid in allow disbursement by Closing Company at Closing OR SUCH PARTY SHALL BE IN DEFAULT.
99 Buyer represents ihm Buyer, as o[ihe dare of this ComracL X Docs Doer Not have funds that are immediately venfiable and
100 available in an amount not less than the amount stated as Cash at Closing in § 4.1.
101 4.4. Shcer Concession Omitted as inapplicable.
102 4.5. New Lae.. Omitted os lnapp&able.
Ira 4.6. Assumption. Omitted as mirpelfcable.
104 4.7. Seller or Private Financing. Omitted as inapplicable.
No.®5410.11. CONIpALT T011111' A.4D SELL SEAL Exii rLANn1 par e3afr7.
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 8 OF 24,
Janice K. Voss Caudill, Pitkin County, CO
105 F TRANSACTION PROVISIONS
I05 S. FINANCING CONDITIONS AND OBLIGATIONS. Omitted., but ifcable
107 6. APPRAISAL PROVISIONS. Onihosda, brappllc.ble.
108
109 7. EVIDENCE OF TITLE AND ASSOCIATION DOCUMENTS.
110 7.1. Evidence of Title. On or before Record Tide Deadline (§ 3), Seller shall cause to be famished to Buyer, at Seller's
H1 I expense, a current commiunent for owner's fide insurance policy (Tide Commitment) in an amount equal to the Pummers Price, or
112 if this box is checked, ❑ An Abstract of title certified to a comm dem. ' - - - - -fis
113 twerifigall.At Buyers
114 expense, Seller shall cause the title insurance policy to be issued arM delivered to Buyer as soon m practicable at or after Closing.
115 The title insurance commitment ®Shall❑ Shad Notcommit to delete or insure over the standard exceptions whichrelate to: (1)
116 parties in possession, (2) unrecorded easamemu, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap period (effective date
117 of commitment no date deed is recorded), and (6) unpaid taxes, assessments and unredeemed [ax sales prior to the year of Closing.
118 Any additional premium expense to obtain this additional coverage shall be paid by ® Buyer ❑ Sallee.
119 Note: The title insurance company may annuities, million, or moreover any 01.11ofthesundsdc,w,raiom. Buyershall havefle
120 High, 1. review the Title Commilmem, its provisions and Title Documents (defined in § 7.2), and if not satisfeetory in Buyer, Buyer
121 may exercise Buyer's rights pursuant to § B.I.
122 7.2. Copies of Exceptions. On or before Record Title Deadline (13). Seller, at Seller's expense, shall furnish to Buyer
123 A , (1) copies of any plats, declarations, covenants. conditions and resurrections burdening
124 the Properly, and (2) if a Title Commitment is required to be furnished, and if this hox is checked ® Copies of any Other
125 Documents (or, if illegible, summaries of such documents) listed in the schedule of exceptions (Exceptions). Even irthe box is not
126 checked, Seller shall have the obligation m famish these documents pursuant to this section if roquested by Buyer any time on or
127 before Exception Request Deadline (§ 3). This requirement shall pertain only to documents as shown of word in the office of the
128 clerk and recorder in the county where the Property is located. The Abstract or Title Commitment, together with any copies or
129 summaries of such documents furnished pursuant to this section, comtkide the title documents (cut lecovely, Title Documents),
130 7.3. Hommemars'Astradwims Dacrmddis If.ypliaabl,
131 73.1. Commonlite.l Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON
132 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER
133 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE
I34 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND. RULES AND REGULATIONS OF THE
135 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL
136 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY
137 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE
138 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE
139 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE
140 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE
In ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION.
142 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE
143 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ
144 THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE
145 ASSOCIATION.
146 7.3.2. Assoeimmn Documents ran Buyer.
t47 7.3.3. Conditional on Buyer's Review.
148 S. RECORD TITLE AND OFF -RECORD TITLE MATTERS.
149 5.1. Record Title Matters. Buyer has the right to review end object to any of the Title Documentt (Right to Mutter,
150 Resolution), as set forth in § 8.3. Buyer's objection may be based on any unsatisfactory form or correct of Title Commitment,
151 notwithstanding § 13, or any other unsatisfactory title condition, in Buyer's sole subjective discretion. If Buyer objects to any ofthe
152 Tide Documents, Buyer shell cause Seller to receive Buyer's Notice to Terminate or Notice oflitle Objection on or before Record
153 Title Objection Deadline (§ 3). If Title Documents are not received by Buyer, on or before the Record Title Deadline (§ 3), or if
154 there is an endmovatenn to the Title Commitment that adds a new Exception to title, a copy of the new Exception to title and the
155 modified Title Commitment shall be delivered in Buyer. Buyer shall cause Seller to receive Buyer's Notice to Terminate or Notice
156 of Title Objection on or before ten days after receipt by Buyer of the following documents: (I) any requited Title Document not
157 timely received by Buyer, (2) any change to he Title Documents, or (3) endorsement to the Title Commitment, If Seller receives
158 Buyer's Notice to Terminate or Notice of Title Objection, pursuant rains §S.I filward Title Mat.), anyotle objection by Buyer
Na CB$0.10.11. CO.YI'RACI'TO BIN ANn SFLL BEAL FSTn'IE ANO Pa 14,d17
RECEPTION#: 635819, 01/31/2017 at 04:12:34 PM, 9 OF 24,
Janice K. V.. Caudill, Pitkin County, CO
159 sad this Ce.1 shall be governed by the provisions set forth in § 8.3 (Right to Object, Resolution), If Seller dam not receive
160 Buyer's Notice to Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts thecordition of
161 title as disclosed by [be Title Documents as satisfactory.
162 8.2. Off -Record Title Matters. Seller shall de4ve, 0 Buyer, on ae Iia ore mrd Title Deadline IS 3 not causing
163 ofaBuistinesumenin Seller'rnassesfionu<rrafnin¢so del'ronerly andshaldinlasem Bara alt easeme is.lie !"A d'
164 without! lismilistimt, cowdrian,nandi iso rovbiienb - roved but nut wins a Yrid hbees cludan 'widam,
hesitations. 165 ' idf f t I / and h' ) of sh. .' b g publicrd of which Sefiar has East led Buyer shall
166 have the right is inspect the Property, to investigate if any third party has any right in the Property not shown by public records (such
167 as an immcaMed easement, unrecorded lease, boundary for discrepancy or water rights). Buyer's Notice to Terminate or Notice of
168 Tide Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 13),
169 in Buyer' s sole subjenive ditcroutm, shall be revived by Seller on or before 01TRecord Tilde Objection Deadline (§3). If Seller
170 receives Buyer's Noor, to Terminate or Notice of Title Objection pursuant to this § 8.2 (Off -Record Tide Matters), any title
171 objsstion by Buyer and this Contract shat] be governed by the provisions set forth in § 8.3 (Right to Objects Resolution). If Seller
172 does not receive Buyers Notice to Terminate or Notice of Title Objection, on or before Off -Record Title Objection Deadline 1113),
173 Buyer incepts title subject to such rights, if any, of third parties of which Buyer has actual knowledge.
174 8.3. Right to Object Resolution. Buyer's right in object to nay title matters shalt include, but not be limited to those
IS ..hers setfood, in§§ 8.1 (Record Title Matters), 83(Off-Record Title Matters)and 13 (Transfer of Title), in Buyer's sole subjective
176 discretion (collectively, Notice of Title Objection). If Buyer objects 10 any title matter, on or before the applicable deadline, Buyer
177 shall have the choice to either(1) object o the condition of title, a,(2) terminate this Comfort
178 8.3.1. Title Resolution. If Seller receives Buyer's Notice of Title Objection, .s provided in § 8.1 (Record Title
179 Maners) or § 8.2 (Off -Record Tide Matters), on or before the applicable deadline, and if Buyer and Seller have not agreed to a
180 written settlement thereof on or before Title Resolution Deadline 0 3), this Contain shall terminate on the expiration of Tille
181 Resolution Deadline 1113), unless Seller receives Buyer's written withdrawal of Buyer's Notice of Title Objection To, Buyer's
182 written notice to waive objection to such items and waives the Right to Terminaie for that reason), on or before expiration of Ti@
183 Resolution Deadline (§ T.
184 8.3.2. Right to Terminate — Title Objection. Buyer shall have the Right to Terminate under § 25, i, oa or before
185 the applicable deadline, based on any unsatisfactory this mane, in Buyer's sole subjective discretion.
186 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
187 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE
188 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK
189 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE
190 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH
191 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE
192 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY
193 TREASURER, By REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING
194 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND
195 RECORDER, OR THE COUNTY ASSESSOR.
196 n
19]
198 B.S. Right of First Refusal or Contract Approval. !f there is a right of first refusal on the Property, or a right to approve
1% this Contract. Seller shall promptly submit this Comics according to therms anW conditions ofsmh right lfthe holder of the fight
200 of first refusal exercises such right onbe balder faright to approve disapproves this Contract. this Convect shall terminate .lithe
201 right of first refusal is waived explicitly or expires, or rhe Contract is approved, this Contract shall remain in full force and cited.
202 Sellesshall promptly notify Buyer in writing arms, foregoing. Ifexpimlion or wiiverofthe right offirst refusal or Contract approval
203 has not occuacd oa or before Right of First Refund Deadline 0 3), this Curacao shall then terminate,
204 8.6. Title Advisory. The Tide Documents affect the tide, ownership whit use of the Proper, and should be reviewed
205 carraftill, Additionally, the, matters not retlectcd in the Title Documents may affect the title, ownership and use of the Property,
206 including, withouthmitaiion, boundary lines and encroachments, area, roningunrecorded ear.cus.rd clmousofe.semenb, leases
207 and other unrecorded agreements, and various laws and governmental regulations concerning land use, development and
208 cr Arm mental mmsers. The surface estate may be owned separately term the underlying mineral estate, and transfer of the surface
209 male does not necessarily include insider of the mineral rights or water rights. Third parties an, hold interests in it, gas, other
210 suireods, geothermal energy or wmer re ar under the Property, which interests may give them rights to enter and use the Property.
211 Such mmmrs nay be excluded team or not covered by the title insurance policy. Buyer is advised m timely consult legal counsel
212 with respect 1. all such matters as there are strict time limits provided in this Contract [e.g., Record Tide Objection Deadline (§ 3)
213 and Off -Record Maners Objection Deadline (§ 3)).
214 9. CURRENTSURVEY REVIEW.
215 9.1. Current Survey Conditions If the box in § 9.1.1 or ¢ 9.1.2 is checked, Buyer, Ne issuer of the Title Commitment or
216 the provider ofthe opinion crude ifan shimmer, and Seller shall receive a Curren Survey,i.c., Improvement Location Certificate,
No.0854-IodL C0MMALTT0BUYAM8ELLREAL1,dIATERAG01 Pe e5of17
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Janice K. Vos Caudill, Pitkin County, CO
217 Improvement Survey Plat m other form of survey sol Porth in § 9.1 .2 (collectively, Curren Survey), on of before Current Survey
218 Deadline (§ 3). The Current Survey shall be cortified by the surveyor re all these who are (a receive the Current Survey.
219 ❑ ____ __ _ _ rate IrreardfliwI
220
22i 91-2. Other Sunt If the box in Nis § 9. 11.7 is checked, a Cmrem Sury
ey, other than an Improvement Leeman222 Certificate, shall be an ® Improvement Survey Plat ❑ . The parties agree that payment
223 of the cost ofthe Current Survey and obligation to order or rovide the Current Survey sial l Solely be the responsibility ofthe Buyer.
224
225 9.2. Sees, Objection. Buyer shall have the right to review and object to the Current Survey. Buyer shall have the Right
226 to Terminate under §25.1, on or before the Current Survey Objection Deadline (§3). i f the Current Survey is not timely received
227 by Buyer or based on any unsatisfactory matter with the Current Survey, notwithstanding § 8.2 or § 13.
228 1DISCLOSURE, INSPECTION AND DUE DILIGENCE
229 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE AND SOURCE OF
230 WATER.
231 10.1. Seller's Property Disclosure Deadlfne. On or before Seller's Property Disclosure Deadline (§ 3), Seller agree to
232 deliver to Buyer the most current version of the applicable Colorado Real Blatt Commission's Seller's Properly Disclosure form
233 completed by Seller to Sellcr's actual knowledge. current as of the date oflhis Crelloct.
234 10.1 Imperfirn Objection Deadline Unless otherwise provided in this Contract, Buyer acknowledges that Seller is
235 conveying the Props ny to Buyer in an "as is" condition, "where is' and "with all faults'. Seller shall disclose to Buyer, in writing
236 any latent defects actually known by Seller. Buyer, acting in good faith, shall have the right to have inspections (by one or more
237 third parties, personally or both) ofthe Properly and Inclusions (Inspection), at Buyer's expense. If (1) the physical tradition of the
238 Property, including, but not limited to, dialect walls, structural integrity ofthe Properly, the electrical, plumbing, HVAC and other
239 mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) cervi¢ to the Praperty (including utilities end
240 communication services), systems and components of the Property, e.g. heating and plumbing, (4) any proposed or existing
241 transportation project, road, tater or highway, or (5) any other activity, adm or noise (whether oa an off the Property) and its effect
242 or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole subjective discretion, Buyer shall, on or before
243 Inspection Objection Deadline (§ 3):
244 10.21. Notice to Terminale. Notify Seller in writing that Ibis Colonel is terminated; or
245 1022. Inspection Objection. Deliver to Seller a written description of any unmtishaory physical condition that
246 Buyer requires Seller to correct.
247 Buyer shall have the Right to Terminate under § 25.1, on or before Inspection Objection Deadline (§ 3), based on any
248 muslisfacmry physical condition of the Property or lnclusiom, in Buyer's sole subjective discretion.
249 10.3, Inspection Resolution Deadline. Ian Inspection Objection is received by Seller, on echelon Inspection Objection
250 Deadline (§ 3), and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution
251 Deadline (g 3), this Contract shall terminate on Impaction Resolution Deadline (§ 3), unless Seller receives buyer's written
252 withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Impectfon Resolution Deadline
253 (§ 3).
254 10.4. Damage, Liens and ladoned, Buyer, except Or otherwise provided in this Contract or other women agreement
255 between the parties, is responsible far payment for all inspections, teas, surveys, engineering reports, or any mom, work performed
256 at Buyer's request (Work) and shall pay for any damage that occurs to the Properly and Inclusions as a result ofsuch Work Buyer
257 shat l not Permit claims or liens relay kind agai nsuhe Pmpnny for Work performed on the Properly at Buyer's request Buyer agate;
258 te-iademaifn __ _ __ _ _ _
259
260
261 r...o-ar.�-.;w,. The provisions of this section shell survive the termination of this Convatt
262
263 frIPI.P.a.3-iffithism-bisillfinyrf a,
264 Obj .. '
265 10.6. Due Diligence Documents. Seiler agrees to deliver copies of the following documents and information pertaining to
266 the Properly (Duc Diligence Documents) to Buyer on or before Due Diligence Documents Delivery Deadline (§ 3) m the extent
267 such Due Diligence Documents exist and are in Seller's possession: See Addendum.
268 10.7. Due Diligence Documents ConJfti0m. Buyer shall have the right to review end Object to Due Diligence Documents,
269 inning and any use restrictions imposed by any goventrom al agency with jurisdiction over the Property (Zoning), in Buyer's sole
270 subjective discretion, or Seller's failure to deliver to Buyer all Due Diligence Documents. Buyer shall also have the unilateral right
271 mwai ve any condition herein.
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273
274
275
276
277
278
279
280
281
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207
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3W
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10.7.1. Due Diligence Documents Objection. Buyer shall have the Right to Terminate under § 25.1, on or before
Due Diligence Documents Objection DeadOrre (13), heard on any unsatisfactory matter with the Due Diligerac Documents in
Buyer's sole subjective discretion. If, however, Due Diligence Documents are not timely delivered under § 10.6, or if Seller (nils to
deliver at) Due Diligence Documents to Buyer, then Buyer shall have the Right to Terminate under § 25.1 on ce befine the earlier of
10.73. Some.
® Does Not
potable wavy
❑ See secGoi
Note to Bei
WATER Y(
including Phase I end Phase B
ter (Residential Laird and Residential Improvements Ori Hoyer, ❑ Does
Seller's Properly Disclosure ar Source of Water Addendum disclosing the source of
$ Does Not acknowledge receipt of a copy of the cures, well permit.
ers.
RS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND
'YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO
IENCY OF THE PROVIDER'S NATER SUPPLIES.
ADA. Buyershan have the right to obtain environmental inspection of the Property
3fte Assessments, m applicable al the expense of Buyer. E] Sulls, spo6
Buyer shall have the Right to Terminate under 125.1. on or before Envirnnmental Inspection Objeellon Deadline (§ 3), or
if applicable the Extended Environmental Inspection Objection Deadline, based on any unsatisfactory results of Environmental
h sionnion, in Buyer's sole subjective discretion.
Buyer shell have the Right to Terminate under 125, I, on or before ADA Evaluation Objection Deadline (13), broad on any
unsatisfactory ADA Evaluation, in Buyer's .to subjective discretion
10.9. Existing Leases; Modifrcationof Existing Lease, New Leases. Ominedaslnappticable.
303 11. TENANT ESTOPPEL STATEMENTS.
3W 11.1. Tamen Ease,,[Statements Conditions. OmiDed ar 1mppl7rnbfe.
305 11.2 Tamm Estoppel Statements Objection. Omiuedaslnapplicable.
306 I CLOSING PROVISIONS
307 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING.
30e 32.1. Closing Doemeenbnrd ClasingInformation Selkr and Buyershall cooperate withthe Closing Company taenable
309 the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is
310 obtaining anew loan to purchase the Property, Buyer acknowledges Buyer'slendershall bemquired to provide the Closing Company
311 in a timely manner all required loan documents and financial information concerning Buyer's new loan. Buyerand Seller will furnish
312 any additional mfimmadon end documents required by Closing Company that will be ncaassary to complete this transaction. Buyer
313 and Seller shall sign and complete all customary or reasonably required documents at or before Closing.
314 12.2. Closing Wtruetimra Buyer and Seller agree in exeoule the Colorado Real Estate Commission's Closing humstuom.
ns Such Closing Imm ctions ❑ Are ® Are Nor executed with this Contract. Upon mutual execution, ❑ Seller ❑ Buyer shall
316 deliver such Closing lrametimw to rhe Closing Company.
317 12.3. Closing. Delivery of the Progeny from Seller to Buyer shall be al closing (Closing)_ Closing shall be no the dare
318 specified m the Closing Dale (§ 3) or by manual agreement at an earlier data The hour and place of Closing shall he as designated
319 by Buyer.
320 12.4. Disadomreof Settlement Costs. BuyeraM Seller acknowledge that costs,quality, end extent of service vary between
321 different settlement service providers(e.g, mmrneys,lenders, imxpeclors and title companies).
322 13. TRANSFEROFTITLE Subjcetm terderofpaymem at Closing as required herein and compliance by Buyerwith the other
323 terms and provisions hereof. Seiler shall execute and deliver a good and sufficient Trail Easement to Buyer, at Closing, conveying
324
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323
326
327 13.1, -Those specific Exceptions described by reference to recorded documents as reflected in the Tide Documents accepted
328 by Buyer in accordance wish Record Tide Matters (§ e.1),
329 13.2. Distribution utility casements (including cable TV),
330 13.3. Those specifically described rights of third parties not shown by the public records of which Buyer has actual
331 knowledge and which were acccpmel by Buyer in accordance with OR -Record Tide Memo (§ 8.2) and Current Survey Review
332 (§ 9),
333 13.4. Inclusion of the Property within any special taxing district, and
334 133. Other:
335 14. PAYMENT OF ENCUMBRANCES. Any encumbmme required to be paid shall be paid a or before Closing from the
336 proceeds of this trunsaction or from any other source.
337 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES.
338 15.1. Closing Crims. Buyer and Seller shall pay, in Good Funds. their respective closing costs and all other items required
339 to be paid at Closing, except as otherwise provided herein.
340 15.2 Closing Services Fee. The fee for real estate closing services shall be paid at Closing by ® Buyer ❑ Seller
341 ❑ Ona -Haff by Buyer and One -Half by Seller ❑ Other
342 15.3. Status Letterand Transfer Fees.Anyfessincideraludefssuance of Assmietion's vatemenrnfazsessmene (Stows
343 Lestec)shallbepaidby❑Bayer❑ Seller ❑ Ora,Halfby Buyer and One -Haff by Seller®None.Anytransferfeu assessed
3" by the Association including, but amt limited to, anymemd change@e,regardless ofname or dote ofs.h fee (Association's Transfer
345 Fee) shall be paid by ❑ Bayer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ® None.
3a6 1$.4. Local Tractsfer TaeThe Local Tramfer Tax of 'sj_/A % of Ne Pmchaze Price shall be paid m Closing by ❑
347 Buyer ❑ Seller ❑ One.Hdf by Buyer and One -Haff by Seger ®Noor.
348 153. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing. such
349 as communityossoci num fres, develo r fees utd foundation fees, shall be paid at Closing by 0 Buyer ❑ Seller ❑ One -Half
350 by Buyer and One -Half by Seller None.
351 15.6. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction shall be paid when due by
352 _ Buyer ❑ Seller ❑ One -Haff by Buyer and One -Half by Seiler X None.
353 16. PROBATIONS. The following shall be rmated to Closing Data (§ 3), except az otherwise provided: fnapplica6le
351 .. ill..lm_ ___ __ _____
355 der�'ear-fmmed'-d- -- -- , ^ - - - lI --
35fi ___ _ _ _ __ba
__ ra 0 __
357 16.2 Rene. Orination Inapplicable.
358 16.3. Association Assessments O,nined ec inappticable.
359 16.4. Other Prurntione. Water and sewer charges, interest on continuing loan, endive,
360 165. Find SettlemeoL Unless otherwise agreed in writing, these pmosamis shall be final. n/u
361 17. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date (§ 3) in Possession Time (§ 3),
362 subject m the following t.emns or lenancies: Notre.
363
364 If Seller, after Closing, foils to deliver possession as specified, Seller shall be subject to eviction and shall be additionally liable
365 m Buyer for payment of $0.00 per day (or any part of is day notwithstanding § 18.1) from Pmusamion Date (§ 3) and Possession
366 Time (§ 3) until possession is delivered.
367 1 GENERAL PROVISIONS
368 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE.
369 18.1. Day. As used in this Contract, the term "day" shall mean the entire day ending at 11:59 p. m., United States Mountain
370 Time (Standard or Daylight Savings as applicable).
371 18.2. Cnmputafiaoof Penedo( Days,Dera ioe. In compuringa period of days, when lheeMing date is not spuified, the
372 first day is excluded and the last day is included, e. duce days ails MEC H any deadline falls on a Saturday, SuMay or federal
373 or Colorado state holiday(Holiday), such deadline fi Shelf El Shall Not be extended or the next day that is not a Saturday, Sunday
374 or Holiday. Should neither box be checked, the deadline shall not be extended.
Na. CBSi-10.11. CONTRACf TOaOyA SULPEALESTAitLAN01 fanelleau
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375 19. CAUSES OFLOSS,INSURANCE; CONDITION OF, DAMAGE TOPROPERTY AND INCLUSIONS ANDWALK-
3]6 THROUGH. Except as otherwise provided in this Contmet, the Properly. Inclusions or both Shall he delivered in the condition
377 existing as of the daze of this Common, Odom, went am tear excepted.
378 19.1. Comma cif Loss, to nraMe. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss
379 prior to Closing inn amount of not marc than ten percent of the total Purchase Price (Property Damage), Seller shall be obligated
380 to repair the same before Closing Dare Q 3). In rhe event such damage is not repaired within said time or if the damage exceeds
381 such sum, this Contract may be terminated at the option ofBuyer. Buyer shall have the Right to Terminate under§ 25. I, on or before
382 Closing Date (§ 3), baud on any Property Damage not repaired before Closing Date (§ 3). Should Buyer elect to carry out this
383 Connact despite such Property Damage, Buyer shall be entitled to a credit at Closing for all insurance printed, that were received
384 by Seller (but not the Association, if any) resulting from such damage 10 the Property and Inclusions, Plus the amount of any
385 deductible provided for in such inxmor,policy. Such credit shall not exceed the Purchase Price. In the event Seller has not received
386 such man. pro.& prior to Closing, the panics may agree to extend the Closing Date (§ 3) or, at the option of Buyer, Sella
387 shall assign such proceeds at Closing, plus credit Buyer the amount of any deductible provided for in such insurance policy, but not
388 to exceed the total Purchase Price.
389 19.2. Damage, Indsxdom and Services. Should any Inclusion or service (including utilities and communication services),
3% systems and components of the Property, e.g., heating a plumbing, fail or be damaged between the due ofthis Commat and Closing
391 or Paosomm, whichever shall be earlier. then Seller shall be liable for the repair or replacement of such Inclusion, service, system,
392 component or fixture of the Property with a unit of similar size, use and quality, a an equivalent credit, but only m the extent that
393 the mai mission or replacement of such Inclusion,service,system, component or fxtune is not the responsibility of the Association,
394 if any, less any insurance proceeds received by Buyer covering such repair or replacement Seller and Buyer are aware of the
395 existence of pre -owned home warranty programs that may be purchased and may cover the repair cr replacement f,.h locations,
396 19.3.. Candemrmtion In the event Seller receives actual notice prior to Closing that a pending condemnation It. may
397 result in a taking of all or part of the Property or Inclusions, Seller shall promptly notify Buyer, in writing, ofmch condemnation
398 action. Buyerahali hv,ethe Right o Terminate under§ 25, 1, oa m before Chi ag Date (§3), based on such condemnation action,
399 in Buyer's Is subjective discretion. Should Buyer elect to consumoum this Contrera despite such diminution of value to the
400 Property and Inclusions, Buyer shall be entitled m a credit m Closing for all condemnation proceeds awarded to Seller for the
401 diminution in the value of the Property or Inclusions butsuch credit shall not include relocation benefits or expenses, aexeaed the
402 Purchase Price.
403 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through
404 rhe Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract.
405 195. Risk of less– Growing Crops. The risk of loss for damage to growing crops by fire or other casualty shall be borne
406 by the Party entitled to the gmwing crops as provided in§2.5.5 and such party shall be entitled to such insurance prvoeals or benefits
407 for the growing crops.
408 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. D applicable: By signing Lbos document. Buyer and Seller
409 acknowledge that he respect ve broker has advised that this document has important legal consequences am has recommendedthe
410 examination of title and consultation with legal milmx or other counsel before signing this Cams...
411 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. lfeny note or check received as Earnest
412 Money hereunder or any other payment due hereunder is not paid, honored or rendered when due, or if any obligation hereunder is
413 not performed or waived as hereinprovided, there shall be the following remedies:
414 21.1. HB.'ahin Default
415 ❑ 21.1.1. Specific Performance Seller may elect to treat this Contract as canceled, in which case all Eames, Mouey
416 (whether or at paid by B oyer) shall be paid to Seller and retained by Sel ler; and Seller may recover such damages a may be proper;
417 or Seller may elat [a near this Connact as being in full force and effect and Seller shall have .he right to specific performance or
41B damages, or both.
419 21.1.2. Liquidated Damages, Applicable. This § 21.1.2 shall apply unless the box in 6 21.1.1. is checked. All
420 P.mncst Mesa,(whmher or not paid by Buyer)shall be paid,. Sella, and retained by Seller. Both parties shall.hereafmr be returned
421 from all obligations hereunder. It is agreed that she Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a
422 penalty, which amount the paries agree is fair and reassemble end (except as provided in §§ 10.4, 22, 8 and 24), said payment of
423 Earnest Money shall be SELLER'S SOLE AND ONLY REMEDY for Buyer's failure to Palo. the obligations of this Connact.
424 Seller expressly waives the remedies of specific parfmouni a end additional damages.
425 21.2. if &diet is In Deft nk: Buyer may electro teat this Connect as canceled, in which rase all Earnest Money received
426 hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to veal this Contact as
427 being in full force and effect and Buyer shall have tM right m specific performance or damages, or both.
redo—.CB_BLm_-p. COniB TOBMAhDSEU"ft LESTAIEf D) Ruild.7
I
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428 22. LEGAL FEES, COST AND EXPENSES. Anything to the convoy herein notwithstanding, in the event of any annotation
429 or litigation relating m this Contract. prior to or alter Closing Date (§ 3). the annotator or court shall award to the prevailing party
430 all reasonable costs and expenses, including attorney fees, legal fees and expenses.
431 23. MEDIATION. if a dispute arises relating to this Contact, prior to or after Closing, and is not resolved the paries must first
432 proceed in good faith to submit tbe matter to mediation. Mediation is a process in which the parries meet with an imperial person
433 who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parries to the
434 dispute must agree, in writing, before any settlement is binding. The parties will jointly appoint an acceptable medialor and will
435 share equally in the coal of such mediation. The mediation, unless otherwise agreed, will terminate in the event the entire dispute is
436 not resolved within thirty days of he data write. notice requesting mediation is delivered by one party to he other ar the party's
437 last known address. This section will not alter any dam in this ConsmcL unless otherwise agreed.
438 24. EARNEST MONEY DISPUTE. Except as otherwise provided heroin, Earnest Money Halder shall release the Earnest
439 Money as duccmd by wrinen mount instructions, signed by both Buyer and Seller. In the event of any controversy regarding the
44o parent Money (notwithsronding any termination of this Contact). Earnest Money Holder shall not be requited to rake any action.
441 Earnest Money Holder, at its option aM sole subjective discretion, may (I) await any proceeding, (2) interplead all parties and
442 deposit Earnest Money into a court of comperentjmbdimioo and shall recover court costs and reasonable attorney and legal fees, or
443 (3) provide notice to Buyu and Seller that unless Earnest Money Holder receives a copy of the Summons and Complains or Claim
444 (between Buyer and Seller) containing the case number afabc lawsuit(Lawsuit) within are hundred twenty days of Eoncst Money
445 Holder's notice to the parties, Earnest Money Holder shall be awhorized to return the Earnest Money to Buyu. In the event Earnest
446 Money Holder does receive a copy of be Lawson, and has no imerpnd she monies at she time of.y Order, Eamest Money Holder
447 shall disburse the Firmest Money pursuant to the Order of the Court. The parties reaffirm the obligation of Mediation G 23),
448 25. TERMINATION.
449 25.1. Right to Terminate. If a party has a night to mrminale, as provided in this Contract (Right 0, Terminate), the
450 termination shall be effective upon the Other Party's receipt of a written notice to terminate (Notice to Terminate), provided such
451 wmmnnoucc wasomeived on or before the applicable deadline specified in this Contract. Ifthe NmicemTemacceirmenceived
453 on or before the specified deadline, the party with the Right m Terminale shall have accepted the specified matter, document m-
453 condition. satisfactory and waivedthe Right to Terminate under such provision.
454 25.2 Efreet of Termination. In the event this Contact is terminated, all Earnest Money received hereunder shall be
455 returned and the parties shall be relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 am 24.
456 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL. This Contracts its exhibits and specified addenda, constitute the
457 entire agreement between the ponies relating to the subject hereof, and any prior agrremems pertaining there(., whether oral or
458 written, have been merged and integrated into his Coolant. No subsequent modification of any of the terms of this Contour shall
459 be valid, binding upon the parties, or enforceable unless ..on in writing and signed by the parties. Any obligation in this Contact
4W than, by its corms, is intended m be performed of Or termination or Closing shall survive the same.
461 27. NOTICE, DELIVERY, AND CHOICE OF LAW.
46s n.l. Physical Delivery. All notices must be in writing, except as provided in § 27.2. Any document, including a signed
463 document or notice, from or as behalf of Seller, and delivered to Buyer shall be effective when physically received by Buyer, any
464 signatory on behalf of Buyer, any armed individual of Buyer, any representative of Buyer,
46s
466 Any document, including a signed document or notice, from or oa behalf of Buyer, and delivered to SOlershall he effective when
467 physically received by Seller, any signatory on behalf of Seller, any named individual of Selle, any repoesconanc of Seller, or
468 Brokerage Firm of Braker working with Seller (except for delivery, after Closing, of the notice requesting mediation described in
469 § 23) and except as provided in § 27.2.
470 27.2. Electrode Defivery. As an alternative to physical delivery, any document, including any signed document or written
471 notice, may be delivered in electronic form only by the following indicated methods: ❑ Faedmile N Email
472 N Internet ❑ No Electronic Delivery. If the box "No Electronic Delivery" is checked, this § 27.2 shall Wt be applicable and
473 § 27.1 shall govern notice and delivery. Documents with original signatures shall be provided upon request of any party.
474 273. Choice of law. This Contras and all disputes arising hereunder shall be governed by and construed in accordance
475 with [be laws of the State of Colorado that would be applicable to Colorado residents who sign a rvac, in Colorado for Impart,
476 located in Colorado.
477 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal shall capita unless accepted in writing, by Buyer and
478 Seller, as evidenced by meirsignamors Wow, and the offering party receives notice oftuch acceptance purmanr10§27 on or before
479 Acceptance Dentition Date (§3) and AcceptanceDeadline Tr me(§3). Ifaccepmd, this document shall beer. a contract between
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480 Salley and Buyer. A copy of rhn decymeol may be eeecamd by each parry, repentoly, ml when each pmry his esmard a copy
481 thereof. sachcopholelrea together shall 6 domed to tie a: full and complex toren between the panic. '
4112 29. GOODFAITH. Bayrud SellricktwWedgc@much perrYhu enobligeuootomlln good faith, mcluding bused limiad
483 to, eeercum8 tl¢ rigbD and oNyeoov.et foM In the pmvirians of Pmandns CaMiEov pd ObNgnYom f45); RecerdTlBe
484 and OH•Ranrd Tilk Marlen (69). Carnot Surrey kniew l99) and Prop. ty Dferlman, lospeedon, Indecently.
4815 IosvnblB7:Dne DRigeon and Source pf Wahr (610).
486 1 ADDIT70RALPROVL%ONSANDATTACHMFNT'S
487 W. ADDITIONAL PROVISIONS (The followin8 addiuoonl provision harb not bean'epMr d by the Colorado Real Beam
4SR Commission.) So,aaadmdAddenddm.Carnnr Survey Sewtun ibwdlmc FebnmTfo,201Y.
489 SI. ATTACFIMENfS. The tallowiog Lea Pmt of Nm Conaecl Addenduua ion dumrg Addidonol Temu and RrhihlrA.
490
491 Nntea The fac,eingdishldsuee foams az anached but ere notapen ofthis Conareec None.
492
493
: SIGNATURES '.
494
RATIFICATION SY BOARO OF COUNTY
COMMISSIONERS
Pfr"TlDeTYOPEN(SP & BS
'-
lb
/
Buyer sSig9awrc: Dal wSl
Ac9 waon Detector_
Dnm
C mmen �i
N..:
.Addy..: Sea AdMtdum -
Addrera: See Addsidum
Phone No.:
Phone No.r
Eu No.:
Eas No:
Elanronic Addrns:.
Elcnronic Address
Seller's Nenm: UOIMtASLFARRIS
'Seller's Nana: DOR A FARRIS
_
f1 -
oCXddl"IA �. J 11S
SAIc's Stgnmurc: GLA6 L FARAIS
➢me
Sell s 5 ynafur DOROT}IEA A: FARRIS Da¢
Address: 42 Tybar Ranch Road and 40 Tybar Address: 42 Tybar Ranch Road and 40 Tybar
Ranch Road, Carbondale, Colorado, Ranch Road Carbondale, Colorado,
81623 81623
Phan, No.: Phan. No.:
Fes Nn.: Fax No.:
Elecvook Addrnas Elecvanic Addmss. ;.
495 END OF: CONTRACT TO BOY AND SELL REAL ESTATE
NU L'&51.10.11. GONTMCTIDBU3'AND SLYL REAL PSTATBL.aNB. Pa 11 of 11
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497
498
499 [Remainder of page intentionally left blank]
Nu CB94Z411. CONPGLT NBUY AND SELL SEAL ESTATE ILANDI P etZ aP 37
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ADDENDUM—ADDITIONAL TERMS AND PROVISIONS TO CONTRACT TO BUY AND
SELL REAL ESTATE BETWEEN BOARD OF COUNTY COMMISSIONERS OF PITKIN
COUNTY, COLORADO AS BUYER AND DOUGLAS L. FARRIS AND DOROTHEA A.
FARRIS, AS SELLER,
THIS ADDENDUM is entered into simultaneously with the Comment to Buy and Sell Real Emote (land)
dated December 16,2016,("COohact') entered into by the above-named Panics. This Addendum is
supported by the same considerations as expressed in such Contract and the mutual terms, conditions and
Covenants set forth below. Capitalized terms herein shall have the same meanings set forth in the Contract.
In the event of any conflict between the Contract and this Addendum, the provisions of this Addendum shall
govern and control. References herein to the "Contend" shall include all of the terms and conditions of this
Addendum.
I. Property. The real property (tire "Property") to be conveyed by Seller to Buyer at closing is a
trail easement interest in the Property described as fee[ wide and approximately 465 fee[ long,
adjacent to the western, southern, and northern boundaries, being a portion of the properly owned by the
Sellers described as 42 Tybar Ranch Road and 40 Tybar Ranch Road, Carbondale, Colorado, 81623,
Assessor Parcel No. 246314200DO4 in the records of the Pitkin County Assessors office, as depicted in
Exhibit A of the Contract attached hereto, and as will be more specifically defined upon the completion of
an improvement survey plat to be completed in the new future. At Closing, Seller shall convey to Buyer
a Trail Easement to the Property, subject to the exceptions to title listed on the Title Commitment and
accepted by Buyer.
The trail easement is defined as If feet wide, however the as -built trail will not exceed 10 feet in width.
The additional easement area is required to accommodate the existing geography (trees, swales, rocks etc.. J,
and to be used for trail maintenance and emergency situations.
2. Surveys. On or before the Current Survey Deadline, Buyer shall receive a current Improvement Survey
Plat of the property certified by a licensed Colorado surveyor for the express benefit of Seller, Buyer and the
Title Company, depicting all property comers, improvements, easements and rights of way, driveways,
parking areas, walls, fences, encroachments on in off the Property, utility lines and utility installations, and
restrictions of record. Cast of the survey shall be home by Buyer. The Improvement Survey Plat shall be in
farm 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 Plat discloses matters which in the Buyer's
opinion constitute defects in the mcmhentability of Sellers title, Buyer most give Seller written notice of such
unsatisfactory title conditions) no later than the Tide Objection Deadline. If Buyer in fact gives such notice
to Seller in a timely mermen 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 Plat. The Parties acknowledge that the legal boundaries of the Property will not be established until
the Improvement Survey Plat is approved by both Buyer and Seller.
3. Standard Schedule B-2 ExceoNons. Seller shall famish to the Buyer at Buyer's expense an
endorsement from Land Title Guarantee Company to delete standard exceptions I through 5 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 a trail easement interest over the Property to Buyer, free and clear of right,
title and interest of Seller, except as provided in Paragraph I of this Addendum.
N., (71134-0.1t. COMRACI TO B" ANL SeM Roon, ESfATE,L Nsm
P I3nr17 __ _
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Janice K. Von Caudill, Pitkin County, CO
5. Intorestan 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
ammeforthehenefitoMyer. Whether ormn Buyer shall ever be in default under this Contract resulting in
a forfeimre of its enme9 money, Buyer shall nevertheless be entitled to retain, as its sole and separate
pmpetty, al l interest gamed oa said most 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 delivered in accordance with Section 27 of the Contract, addressed as
follows:
To Buyer: Arm: Dale Will
Diream, Pitkin County Open Space and Trails
530 Eau Main Stuart, 3'" Floor
Aspen, CO 81611
Facsimile No.: (970) 920-5198
e-mail: dale.wtll@pitkincouniy.com
With copy to: lam, Ely, County Attorney
Pitkin County, Colorado
530 East Main Street
Aspen, CO 81611
Fncurmle No.: (970) 9205198
e-mail: john,elyC@pitkincounty.com
To Seller: Douglas L. Farris and Dorothea A. Farris
42 Tybar Ranch Road and 40 Tybar Ranch Road
Catbondale: Colorado, 81623
r-Mml �r rv-rc-6 tiff's �n.vs • nT
7. Protective Covenants Res ardine Future Uses of the Properly. The Parties acknowledge that
the use of the. Pmpeny shall be expressly limited to hiking, mountain biking and equestrian trail uses and
that any motorized uses shall be strictly prohibited, except for motorized vehicles used exclasively for
trail construction, mai menance and emergency response services by Buyer and/or it authorized agents and
governmental affiliams.
S. Seller's Reserved WaterRiehtt and Water Fadlifies. All water rights, whether adjudicated,
unadjudicated, historically benefitting or appurtenant to the Property are and shall be expressly excluded
and reserved from this Contract.
9. No Broker Commissions. Seller and Buyer represent to each other that no brokers arc involved in
this transaction. Each party shall defend, indemnify and save the other party harmless from and against any
and all claims, suits, expenses, or anomey's fees for any said mat estate commission and brokerage charges
caused by such party.
M0.M440-I1. COMaAci TOa"AM15aL]uALMA]Ea.m
417
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Janice K. Voss Caudill, Pitkin County, CO
10. Miscellaneous.
(a) Saturn Sunday or Holiday. H any time period relented to in this Contract shall end on a
Saturday, Sunday or legal holiday, such time period shall autocratically be extended to the first
regular business day thereafter.
(b) Controlling Law. This Contract shall be ...stored 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 ofjurisdiction and venue.
(c) Counlemaris 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 al I of the parties, notwithstanding that all of the parties are not signatories to
the original or the same counterpart.
(d) Further Assurances. Foch 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 b 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 tothe
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 shut
tilts Contract be construed against such party by virtue of its actions in retaining the scrivener.
(g) Anomevs' Fees In the event of any action for breach of, to enforce the provisions of, or otherwise
involving this Contract, the coup in such action shall award a reasonable sum as attorneys' fees to
the party who, in light of the issues litigated and the cart's decision on those issues, was the
prevailing party in the action. If a party voluntarily dismisses an action, a reasonable sum as
anomeys' fees shall be awarded to the other party.
11. Board of County C issi Approval Cli Notwithstanding the signature of the Open
Space and Trails Acquisition Director recommending approval, the obligation of the Buyer to perform
hereunder is expressly contingent on the adoption by Buyer of an ordinance authorizing the sale of the
property to Buyer pursuant to this Contract In the event the ordinance is not adopted by Buyer by
January 27th, 2017, or by any extension as the parties may, in writing, agree, then either Seller or Buyer
may, upon written notice to the other, terminate this Contract whereupon Buyer shall be entitled in a
prompt room of all Earnest Money paid. For purposes ofestablishing dates and deadlines for
performance under Section 3 of the Contract, the ordinance adopting approval of this Contract shall be
deemed effective on the day such ordinance receives a majority vote of approval of the Board of County
Commissioners at second reading of the ordinance. In the event such ordinance is timely adopted, Seller
No. CESarall. CEY T CTT06[NAW SELL PPAL ES ATEd ANm
Pa a 15 d 17
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Janice K. Vos Caudill, Pitkin County, CO
shall, at the, request of Buyer. re -execute this Contract below the signature of the Chairman or Vioe-
Chalnnan of Pitkin County Board of County Com nissioners, as provided below.
SELLER'S ACKNOWLEDGEMENT:.
By
Dorothea A. Faros
By . L
Dougl ' .Farris
No.M4-1011. CONTRACT TOBn AN'115ELLREALMAW(LAND)
_
Pag 16 of 17
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Janice K. Vos Caudill, Pitkin County, CO
EXHIHTT A
Map of the Property
63M825
Nn.CRSL1811. CONTRACYTO BUY AND SELL PEAL ESTATEBAMU
r .nem
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Janice K. Voa Caudill, Pitkin County, CO
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RECEPTION$: 635819, 01/31/2017 at 04:12:34 Pbf, 23 OF 24,
Janice K. Vos Caudill, Pitkin County, CO
1
2 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate
3 Commission. (AE41-5-00)(Mandatery 7-09)
4
5 THUS PURA HAS: IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER
6 COUNSELREFONESIGNPIG.
7 AGREEMENT TO AMEND/EXTEND CONTRACT
a
Dae:January 23 p017
9
10 1. This agreement amends Ne connect dared December 16.2016 (Contract), between DOUOLASL FARRIS AND
I I DOROTHEA A FARRIS (Seller), and Board of County Commiss oners of Pitkin County, Colorado (Buyer), relating
12 to the sale and purchase of the following legally described real estate in the County of Pitkin; Colorado: a portion of 42
13 Tybar Ranch Road and 40 Tybar Ranch Road, Carbondale, Colorado, 81623. ]
14 known as No.
(property).
Is
16
17
18
19
20
Street Address LAY ona up
[NOTE: If any item B left blank or the term "No Change" is insisted, it means no change The abbreslam. "WA" or
the word "Deleted' means not applicable and when inserted on any line in Dates and Deadlines (§ 2.3) means that the
corresponding provision of the Contract to wbieh reference b made is deleted.]
2. §2.3. DATES AND DEADLINES. [NOTE: This fable may be deleted if inapplicable.]
IternN _ I Relerdgre Event
II ➢ate or 9aadboe
1
§4.2.1
i Alternative Famest Money Deadlim,-
12 -
F2
145.1
� Loan Application Deadline
_
I t �
§ 5.2
_
Loan Conditions Deadline
4
1 §5.3
Buyers Credit Information
F5
i §5.3
�Dtsappmvtl of B,aeaCredit lnfomnt nDeadiine
I
6
x 15.4
1 Existing Loan Documents Deadline—
_-- --
7
§ 5 4
-- [ Ex sung Loan Doc me u Object on Deadline
-
I A
I§5.4
. _
Loan Tmnsfa ApprovalDwdlin
j
,.Appraisal Deadline
i
j 10
—._— —_
§6.2.2
Objection Deadline
11
i §7.1
1 -T -WI --
TRle Dradline
_
12 �
I § 7.2
Document Request Deadline
1
X13
(,a
fg7a a.1
Icic rb-umoan lxadbae
_._•,
115157.4.5
CIC D«umenu Objection Deadline
_.�.
116_
149.1
ITd Ob3emio DcadLne
17
14 8.2
1 Off Record M hers Deadline
I8
4 8.2
OR Recind Martens Objection Deadline —
19
§8.3.2
Sm,cy Obj.i.. Deadline
f20
4ft.6
__-.__ --
Aght Of First RehsslDeadiine
F
21
410.1
�Sellcr's Prdpeny Disdkom Deadline
..2
4102
L1 sper1mn Objection Deadline
j 23
10.3
bropecoartResitiona Deadline
124
§ 105
r Property [nsura u Objeroon Deadline
r
Fix
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./ ay, au SL9 Ayee ,b MerM .N n10M,ti1.1P. Pg 1 a
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Janice K. yes Caudill, Pitkin County, CO
21
22
23
24
u
26
27
28
29
30
31
32
33`
34
35
36
3]
38
39
40
41
42
43
04
45
46
3.: Orhecdates or deadbnes set forth in the ConrcacLshall be changed as follows:
4. Addiuonatnm .dmemi5
1 Section 13 of the Contract shall include the: language that was struck out lnlines323 through 326.
2 In Artcla 6 of Addendum 1 tofhe Contract, the "To Buyer- sheltie changed to:
:Board of County Commissioners of P Ikm County
Up Dale Will, Acquietien and Special Projects Director
806 West Hallam Street
Aspen CO 81611
c/o Dale.Will®pitkinmunry:crom
and "With a Copy To" shall be changed to the following:
Jahn Ely
Pitkin County Attorney
123 Emma Road, Suite 204
Basalt CO 81621
Facsimile Ne: (970)920-5198
John.Ely§pitkincounty.com.
All ether reams and conditions of the Carmel shall re main the same.
This proposal shall expire unless accepted in writing by Seller and Buyer as evidenced by Weir signatures below and the offering party
to this document receives notice of such acceptance on or before
Date - Time
Dr.-
Buyer's
ate: Dare:
Bdard oI County,
Colorado
sinners of
Buye shame Pitkin GountyGoloratlo BuyerName
47
48 �e-`vim. yfA✓(/✓,l':
. Buye s gnat re
49
50
Date: �`�tf IIQ VlY4wq"^`
Seller's Na.: DOUGLAS L FARRIS
51
Buyer's Si... me
Seller's Name: DOROTHEAA.FARRIS-
52
Seller's Signature - Sella's Signature
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