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bocc.ord.005.2005
IIIIII VIII IIIIII IIIIISILVIA DAVIS NIIII IIIIII IIIIII III VIII IIII illi COUNTY CO R 0. e 048/14/2005 50977 002 02P AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO AUTHORIZING THE SALE OF COUNTY PROPERTY TO WAGAR ET AL ORDINANCE # 065-,2005 RECITALS 1. Pitkin County owns property identified as Parcel No. 273707400856, approximately 7.92 acres, a portion of which has been developed as the Mollie Gibson Park. 2. In 1997, a permanent non-exclusive easement over a different portion of the property on the opposite side of Park Circle from Mollie Gibson Park was granted by Pitkin County to adjacent property owners Richard H. Wagar, Bud Hickman and Connie Hickman pursuant to an easement agreement recorded at reception No. 401780 in the records of the Piktin County Clerk and Recorder. This easement "Property," totaling 6439 square feet, is described on Exhibit A to the recorded easement agreement and is incorporated by this reference. 3. The current owners of the adjacent property, Rich Wagar, Dirk Detweiler and Deborah Burek desire to purchase the Property and have submitted a written offer to Pitkin County to purchase the Property for $200,000, subject to the terms and conditions of the written contract. 4. County staff has determined that due to the permanent easement on the Property and the inability of the County or the public to use the Property in a fashion inconsistent with the easement, it is in the best interests of the citizens of the County to convey the Property to the current owners of the adjacent Property. NOW THEREFORE BE IT ORDAINED by the Board of County Commissioners of Pitkin County, Colorado that the Property be sold to Rich Wagar, Dirk Detweiler, and Deborah Burek, and/or their assigns, for $200,000.00, and that the Chair is authorized to execute all documents necessary to finalize the transaction, including but not limited to a deed and contract for sale, provided that any such document is first approved as to form by the County Manager and the County Attorney. INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 23rd DAY OF FEBRUARY, 2005. NOTICE OF PUBLIC HEARING PUBLISHED IN THE WEEKEND EDITION OF THE ASPEN TIMES ON THE DAY OF FEBRUARY, 2005. APPROVED UPON SECOND READING AND PUBLIC HEARING ON THE 9TH DAY OF MARCH, 2005. PUBLISHED AUTER ADOPTION IN THE WEEKEND EDITION OF THE ASPEN TIMES ON THE �07 DAY OF MARCH, 2005. 6 1 005 -2005 ATTEST: J eJones Deputy Clerk IIIIII VIII IIIIII VIII IIII IIIIII IIIIII III VIII IIII IIII 508977 of 2 04/1412005 02:02P SILVIA DAVIS PITKIN COUNTY CO R 0. 0 0 0.00 BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO Patti Kay-Clappdt, Chair Date: 03- 11- C APPROVED AS TO FORM: Jo Hilary Fl c er Smith Jo Attorney County ager PID # 273707400856 (only a portion of which is to be conveyed) 0 APR. 14. 2005 1:31PM OAT'S KNEZEVICH GARDENSWARTZ N0. !497 ?. 2 09t), ooS- iCos 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 11 The printed portions of this form, except differentiated additions. have been approved by the Colorado Real Estate Commission. (CBS 3-7-04) Final 070704 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CONTRACT TO BUY AND SELL REAL ESTATE (VACANT LAND - FARM - RANCH) Date: January , 2005 Purchase Price:$ 200.000.00 1. AGREEMENT. Buyer agrees to buy, and the undersigned Seller agrees to sell, the Property defined below on the terms and conditions set forth in this contract. 2, DEFINED TERMS. a. Boyer. Buyer, Dirk Detwailer and/or Assigns (^Detwailer") Deborah J. Burek and/or Assigns ("Burek"), Detweiler and Burek together as to an undivided o,, -half in - Rich wager and/or Assigns ("wagaro), as to an undivided one-half interest 18 will talce title to the real property described below as ❑Joint Tenants ❑ Tenants In Common 21 Other 19 See Additional Provisions Continued attached hereto and made a part herao£ by this reference 20 b, Property. The Property is the following legally described real estate: 21 Easement - Parcel No. 3, Reception No, 401760. see Exhibit "A" attached hereto and made a part hereof by this reference. 22 in the County of Pitkin , Colorado, commonly known as No. 23 Easement - Parcel No. 3 Rece tion No. 401780, Pitkin County, Colorado 24 Street Address City State Zip 25 together with the interests, casements, rights, benefits, improvements and attached fixtures appurtenant thereto, all interest of Seller in 26 vacated streets and alleys adjacent thereto, except as herein excluded. 27 C. Dates and Deadlines. 28 Item No. Reference Event Date or Deadline I § 5a Loan Application Deadline 2 § 5b Loan Commitment Deadline 3 § 5c Buyer's Credit Information Deadline 4 g 5c Disapproval of Buyer's Credit Deadline 5 § 5d Existing Loan Documents Deadline 6 §5d Objectionto ExistiagLoan Documents Deadline 7 § 5d Approval of Loan Transfer Deadline 8 § 6a(4) Appraisal Deadline 9 § 71 Title Deadline 07 Days from MEC 10 § 7c Survey Deadline 30 Days from MEC 11 § 8c Survey Objection Deadline 40 Days from MEC 12 § 76 Document Request Deadline 07 Days from MEC 13 § 8a TrzleObjection Deadline 14 nays from MEC 14 § 8b Off -Record Matters Deadline 07 Days from MF,C 15 § 8b Off -Record Matters Objection Deadline 14 Days from MEC 16 § 10 Seller's Property Disclosure Deadline 07 Days from NEC 17 § Loa Inspection Objection Deadline see Addll Provisions 18 § 10b Resolution Deadline 03 days from receipt of* 19 § loc Property Insurance Objection Deadline 20 § 11 Closing Date See Add -1 Provision 21 § 16 Possession Date At Closing 22 § 10 1 Possession Time At Closing 7 PREPARED 6Y• n M. Oates, 3.7.04, rra o Buy and Sell Real Estate (Vacant Land - Farm - Ranch). Colorado Real Estate Commission ReaIPP.S•f®,S e, 02005, Version 6.76, Software Registered to: Leonard M. gales, Oates, Knazsvich & Gardanswarn, p. C, Buyers) i 7P STs 03110/05 14:13:52 3 Page t of 9 5eller(s) APR.14.2005 1:31PM OATES KNEZEVICH GARDENSWARTZ NO. 149 23 §27 Acceptance DeadlineDato —1�- 24 § 27 Acce tante Deadline Time 4Buyar's Notice of Objection 29 30 d. Attachments. The following aro apart of this contract: 31 Additional Provisions Continued, Exhibit °A" and Exhibit -B- 32 Note: The following disclosure forms are attached but arc not a part of this contract 33 None. 34 e. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N/A" 35 means not applicable. The abbreviation "MEC' (mutual execution of this contract) means the latest date upon which both parties have signed 35 this contract. 36 3. INCLUSIONS AND EXCLUSIONS. The Purchase Price includes the following items (Inclusions): 37 a. Fixtures. If attached to the Property on the date of this contract, lighting, heating, plumbing, ventilating and air conditioning 36 fixtures, inside telephone wiring and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems, sprinkler systems and controls; 39 and 40 none other. 41 b. Exclusions. The following attached fixtures are excluded from this sale: 42 None. 43 C. Personal Property. If on the Propertywbether attached or not on the date of this contract: 44 storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, curtain rods, drapery rods, storage sheds, 45 and all keys. If chocked, the following are included: ❑ Smoke/Fire Detectors, ❑ Security Systems; and 46 None. 47 d. Transfer of Personal Property. The Personal Property to be conveyed at Closing shall be conveyed, by Seller, free and clear 48 of all taxes, (except personal property taxes for the year of closing), liens and encumbrances, except 49 for none other. 50 Conveyance shall be by bill of sale or other applicable legal instrument 51 e. Trade Fixtures. With respect to trade fixtures, Seller and Buyer agree as follows: 52 None, 53 54 55 56 57 f. Water Rights. The following legally described water rights: Any water rights shall be conveyed by deed or other applicable legal instrument g. Growing Crops. With respect to the growing crops, Seller and Buyer agree as follows: 58 4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shall be payable in U.S. Dollars by Buyer as follows: 59 Item No, Reference Item Amotmt Amount 1 4 Purchase Price $ 200,000.00 2 § 4a Earnest Money s 20,000.00 3 § 4b(1) New First Loan 4 § 4b(2) New Second Loan 5 § 4c Assumption Balance 6 7 § 4d Seller or Private Financing 8 9 §4e Cash at Closing 180,000.00 10 TOTAL Is 200,000.001S 200,000.00 60 Note: If there is ai inconsistency between the Purchase Price on the first page and this § 4, the amount in § 4 shall control. 61 a. Earnest Money. The Earnest Money set forth in this section, in the form of a personal check or wire , is part payment 62 of the Purchase Price and shall be payable to and held by Pitkin County Tit-le,_Inc. (Eamest Money Holder), in its trust 63 account, on behalf of both Seller and Buyer. The Earnest Money deposit shall be tendered with this contract unless the parties mutually agree 64 and set forth a different deadline in writing for its payment. The parties authorize delivery of the Earnest Money deposit to the closing PREPARED BY: L Ph ard M. Oates, CBS 3-7-04, Co. to�uy and Sell Real Estate (vacant Land - Pam - Ranch). Colorado Real Estal , Commission ReaIFA$T® S r , ®2005, Version 6.16. Software Ragistered to: Leonard M. Oates, Oalos, Knezovich & Gardenswaru, P. C. Buyer(s) .. p .p't 03/10/0514:13:52 SellerPage 2 of 6 APR.14.2005 1;31N OATES KNEZEVIN GARDENSWARTZ NO. 1497 P. 4 65 company, if any, at or before Closing. In the event Earnest Money Holder has agreed to have interest on earnest money deposits transferred to a 66 fund established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer acknowledge and agree that any 67 interest accrtdng on the Earnest Money deposited with the Earnest Money Holder in this transaction shall be transferred to such fund. 68\\\\b\\\\\t\\et,\Tbal,\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 69\\\\\\\\\\t(3.\\L�i�\Riks'tVkhh\Bhych`shElaaEtatkbbb\vvbr\t2,9et'fdrNt\a�`thiha6ctbh`m13ab\ibVbk3:\\\\\\\\\\\\\\\\\\\\\\ 70 71 72\\\\YkaldtillVaah�loblrttbbAthbxa2shbf`S\\\\\\\\\\\\\\\\\\\\\`cAaYnBe\istaar�i'edd\dJe3�apatidd\Jf\\\\\\\\\\\\\\\\\\\ 73\\yrOa\\\\\\\\\\\\\\\\\\\\\\\\\\tbat4�tgpi�a;�ala 74\kitarasYbatlbbkadeM\\\\\\\\\AL\lkkai�a+rbi pldajtlfYatjrlrbtibYB\ryarkvaide3yk�dc}taslt\a¢\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 75 \ an ihb\aa2;i$htelt42\o1aa�.]\rhal\aseata talch! bax �,kap`e3t�lrtsblattta j�xaa>t1r%r1 if` N3ewla ls\ at1 hrvlhataHlhvAth%aha 3ata br\ k?uttlaataa �a}�aaain 76 77 \\\\Lblti \Aaladnt\pbktt�vrbay,\�hbll\E� paili\tb\reabet\at\mb�h�laka\SkaniteabxeehN\\\\\\\\\\\\V°�bxt8e\tbtalldah\ahio\3tt 78 79 80 \\\\Bbybrbkeltb4aly\phy�,lya 6Yadv1\dottth3Raaldakbkt�}nhia#%ahbatbbkhaeld\\\\\\\\\wlebf hltdahbhlo\kt\\\\\\\\\\\\\\ sl\\\\\\\\\\�x)\\\av�tr�eheaa>Lbaa\aa�ha�aub�tataaaaatraab�aantb�lttt�.t��,�eaitiataisa\rana��\\\\\\\\\\\\\\\\\\\\\\\ 83 sit 85 \iartaras'tbaitbbkaCeu\\\\\\\\\°,\�ethiuithrlvlhbvao-1n\thbh\ailJuttYAl�v3tbi'eft\xhtc\ark`tilduahN�k�iaark`iaab)ihh�hjojiar\t9aifa,hildrast 86 87 \ \\ \ Lba a tl3sba art �bxtc9 vrtth�hlbu\ea �aiu \th\Jka 7eh\�t\ma� a� hka \SlalJ> ttbo hxdehd\ \ \ \ \ \ \ \ \ \ \ \ e� bx ttic\tbtt�x �aaa\alrkbat 88\Tebl+at�a1%%alql;tAe\lbltt;s\ntleti!sladcbthe\t5t`sA\\\\\\\\Vita\.\aiAcblult`pbSnt�s1�1J`bh`phid\bhj\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ , 89\ana�atghae)x,\anba�ab�y\\\\\\\\\\\\\\\\\\\\\\\\\\\\\.\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 90\\\\$byilrkk�lliMrhblY�phjl3uyarkVaatn ottahadalaahbkt�krhhadfehnbatbekaPed\\\\\\\\\VsbRi�h4Yaab\aUbhkn\\\\\\\\\\\\\ 91\\\\@\\\\\w\Slt1i)t�aiarl\\Huy1,\a�thas\io\ilsaadaa aha�a� ha�ek}sttAgvadti\h\Rha\a�prbkrrlatabtabhrk\ana\nssal�tian\shtehac\3et 92Vr?t; r kh \at 93 \\\\\\\\\^x�b\ilnLbtr\at��JaailthntuingbhJraaYar\thafdlio\va�dvadihkal\ClTRastlEttakaYa�c%\\G7xidptkiy\Mtaiabta rrbaSrlrn 94\arl�\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\. 95 \\\\Aa�eth§ba�iophjaYdab�tiat�ifleafehtbhtb\etal\6\\\\\\\\\\\\\\\\\\\\�t\thabhie\at�asailnl�sioh��hb\3c\.\in\kesttatk\Si�It 96\tk;tvxaeta\\\\\\\\4a�ahkaaabhaittbb�pbyhbat\saalaltatbkabeti\\\\\\\\\\\\\\\\\\�r�tlphabaN\ilatrk2sk\11nLa\c%acbvf 97\3»y\zt\$,alabarkh�t�di�alVhlabaAakNk\eelJstila�Vaah\at\tCIu9ik§vs\let�llkawaklbsa\ail+t3Cb\ivlubl\clia�eh\taaadaLk\dt�Ch§h 98Bhjtk\llQbytPetinL>?st4`tAi32 C K 56OuVe 99 100 \\\\Sa11ek\EhkhR\03 ;hANbh bhtathesb2i Eola2 Na&atybh\'aM fiai\tt1)1)itkkttis\adn lb#rai6vbhtAe\teE)attdrhbnts\fattalb hWooln 101 \natbVxtyhAavn»eye\3deAac\Pbyti:NptatVSlb�ikaitatt\a��rbpidatbY9tiexaCtadnlthini�ari¢rbkiltdet\adst�iljlaam`far4blbasbbYliaBtivb7\Sk3Abe 102 los \\\\tY�\\\\xatt�rbt\r�tlatalPnhhaht�\\13rryaz\ettaatathabtar2�aadrykathyabtete\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 104 los 106 107 log\;riarxap�\atg\thattvbtxddiaataa\\�sttvaanaa�a�tta�la)rmve�\pad\\\\\\\�Crbdtt�ra�skk�s>a\7�\sutA\\\\\\\\\\\ 109 113\twill} 114\\ebarkx�rLil\ttabaRrize4;xdratphnst£tlbiarbadarrast SllaYnt)e\drbbkg�hllabk\\\\\\\\\\\\\\\\\\\\\\\tt&ht\ CVa54A� \Rdyltkbb 115\�lbhall\©sh3dtivaQaaitb3�h9dnHy\\\\\\\\\\\\\\\\\\\bfastkklaled\ahka�lYanYb9tatkt&abhb\\\ sAr11b\\Osltlily�btVre i lG\Yadraabada,\ \\\ \ \ \ \ \ \ \ \ \\\\dt\askinatea\abaa�l�p}a�dtyVhh\ptbr>\niln\`0`hbvaai,alxm\aY�o\adnt�;athA%Yb1v1'ri�tebi�d:\(Y�Xf 117\t0pilytrt�blk\nbttawaakzta b\\\ \ \\\ \ balcharktta3tek kit aadaata bv3t�baargaaic \\ \ \ \\\\ \ \ 9nat�bala�ixv>b seta 118\(SJiktekdsaarltekNbrdisblasbrbbathbadd tllc\debNbStnlvtbhaVaBe\\\\\\\\\Y1�arabaarb\(S)ltathaRYdtarbtatbkh3lhE�i\\\\\\\\\% lzo\bk$ \ar4kA LiLwaatn \Slhilt/\\at\daleta%\l,iniiAW\\A alb?ung,\a\Seh6rk�\44raWdtVoV\L\'anal\rkhiada�\St3tarAadt\�aailtlab 121 122\ \\\ \&dy4>\ \K3 shmi \ U shhn \yet jptaJdaa h\ttrb?tP&iA 123\\\Va\\\\\GasYr\a\trua�ik�tlgnAateutit�i)aY2lb)tVu latttdsk�\halaffik� G1lailat�lbaih� ptils\9dyleitaalbaa�aast�,al>�inee\ar\taaas 124\V%Yah\Wo* \Fhba\4\4)iaAldsalWd6tank4whXct\tTala ansa\�lac�oh3c\tlaatfcinhtlbbbkl43e\ibtaaljatvlt%�s\alnNvaah�tandr4hAacYc PREPARED 9Y• onar /Oates, OBS 3-7-04, et Buy an0 Sell Real Estate (Vacant Land - Fann - Ranch). Colorado Real Estate CommissIm f✓�t R"IFA$T® ®2005, Version 6. Software ReBittered to: L40nard M. Oates, Oales, Knezevlch 8 Gardenswariz, P, C. 03/10/06 14:13:62 PSBe 3 of £ Seller(s) APR.14.2005 1:31PM OATES KNEZEVICH GARDENSWARTZ NO.1497 P, 4 125\u)M1blel'slndck( 127\\\\\a\\\\\\ff\Bttyhals\b\wkx)Dhputtvy\,)aPhkbase\RnYae\nllbathbtY%abitd\to91\a\,f\ab\atiYstagva'at\k 128 \bbA to\Be\,telehaddlat`GVaati 4 `Buyarl lfi�ellilt'he�H}\subnYdrUat\ bndlnatllad a baritSdbYAa�pYrbatioh\U�badvn 4Alif)1Tcatiaui\na�dtnrb\(�\2eq. 129\�Bnya?�9hhN�cba�ata WnY,\3eVICit h>jd,khxar\tabbathAlo�ilhAlkbit�lld;kigatkt,�ahu\ttn\�1jt piakhd 9abldin\�bli\t4tt13t bkadutct,'�ll lladtbkld�s 130\ hlad YJrhlchhNVafuhhdttoh\ahx tdma klattts\t e11116d\ay\mldcl�khl\ 9lbycicilo\§ �n �n)\ahx (a> abv\q\4� tl��aykad hassd dfM6larrlia�ZlcW 131 \ Nash\ at\ lshliar\ h&h;h hl Yi4ar\t18ka6s\t0\ aaiik j\tI t \rba3ohaBla 4a N xt ekkl is\afi lehxar\ hhd \shall bbA Widukh\a\v\ Vk\ khk\dr\rAskd addak 132\ )k* badtlgb\in\ biliultlsrdnhes\ YAaY \vYamx \]hbjuki%b\Iekd¢r s\rlppiavhA b\ \tba \lba,l \nppNaztbA\err 133\Nntldn%� at lhbVbatA\&nyEt\khj bbaairAlliffeiebt fihlnlcVd�>btbhMelillar\tlbarh nb\a\idklohnl\ddlay�bb�tbl bkyaisa,\didkhad Bbjar 135\\\\ \&\\\\ y\nal\dr\)lalt\aniltbv3tlahh9ax?aada3baisinY,16bnla\roe1 b�ckABe\1\b\§4b,\thls 136\bbatkdcAisDohliit%1a1\tk3ol\Bttg�>\anththkg\a\lvnikat)khhbbinlri4�lehR\1Viis\adxalitkla nbb�dEathaaiJaivbNlthib3s\s�lleb1&lkibairbth 137\\ yh4haWOr\thArkkbhaCbhbu'talarit\Deattl,haM\24\Jn\hi Ahatl2e\at\LC 0&kldabN,t <abatkkkkkk\1 1A lt &k&kM\ekt\'a M N*v* 138\bbkiiAs\4eYle\tn;abarlttbbivshhN tdhildatclVF�3136b$[t\npE�Vii99\REdETY$\WIY\iY9'�\h1Y11\l10E\t!1\xEYtb31N\AaaMADSMER leo\ \ \ \ tCl \ \ \ \ \Qa�dittle`farbidtiohl \ u\ Y3ujrar\7�6\ter\ �il>\ 1N\dr\}1alrA bT�thd `Pukdlt\1de\ xkikA �y\ al2ebat'(rlg\ a \�ra?aAskary\t\dYa Ya \lkadr\af lel \ \seual� ar\,^fbk\�lshb�va�u\t�\nbt tabakaladaea hAt�.aaingNklha katitnatt, �\�ha;bbl,aiw�oh\�ubr�a�pka�tibxt;byar�\t;rlaha,anauikt� 142\\4h&\hNk6- aAN 'i bb\at\Se1larYs adiahhdbb�ovJtb di9ckaubla\YAkil2l\rasa\(lq\9lgbnknaNn 1pply> %\sal]et by 143 \ N3r3yeh'k leradit IrYokrhhtiad DDhdlkle\ K(# Y?aJi \at \13nyatYs\a;*pbit3eN vttfbkaFfxloh\3,dd\ddcbktteafr\cbkaarAtbg\sa�eks\ `Fthailcldl,\ btlt�toytbbilt 144 \ bbd \�%adia baadi6arh \(� \Bnl}kh bbhs\ehtc\N1hn `6tllar\ hn1tN \aeh'fy\ V3uya� Yiharkldl\dh\1Yty\an\i\ btelika+at`tAihash\(ir\$adir�, bbialtaa� h las \ bku�ra9t\cbaaan l�pbka\(�N aa,\ kukb\nbidauhtida ktld, ltaAlhtehts\tbabi4aa a,\ `SEHar�slnld `bbV%la bN� �xar\nh\JohSliaticb\ ruler hat\rtkl�eld 146\'t4 bxtbns\c\�bddt\ta pAdtact BaN alsVhte3e\t th\tlub\tnvhe k}abi5\(\tj lf\SeYle\ tlLcb\nbk �%blde\vkltleb\tlonta bE Sail�%s i31sh11�rb�aV ea Bbj dr\Hy 147\`Di3a��}bJ�`1\of\Ttily�c\'1c\K'iu?dittDb3dilrk\ �p\ld)\ Ahbh\ShNar\�1i4�ithls\toblik3oh\kf\9eYist\Yac%�p1dJiNa\vhttbtt hbtiae\af\di9�n`ppndvDntb 149 \\\\ilk\\\\�itst9ng\Dubh\AdJi\\ff\ah\bt,YtYclg\Yaah\ls\batlka bh\ialdekhA OlasYl�\sdlDck\Shan \ijtbdiUa\cb�k\c1f\lhb\lahn 150 \ xaduhaahts\(ldclJdY3�a\3 dt�Web21 by ML4t\ l la a?ry\bbd,TitntSohlAto\Back b}\6aliatU\ Y bhlt\Hbatlal<arNa \DAathAta \(§\2cq \ Ynth�cbh reef 151 \As\adtopal\a11dn\Ida}te4s4Aa\al\�n1i\ylp\aJnAb�tltdp3n4lsldnb\d1\sbbh\lata\lladuhkhAs\YRWnc�lelbbkiaAbYbbJebNarlldbadh\bhn 152 \ xa�ianblats\ili�tbiitby\Btnybt\ lsitlotkAcblv2d byuan�rbywhd, CYbj�cktba`ta Eklsatb� Lbali 13bbhrhbabYiehlltiira \ (�\ Y!kj, \ eltlle\\adcb�,tk \tbe 153 \ lektha laid adnllkkha bx Nth doail rants\ Yi\L1 a YAtdarbs\dpplo4� ndPa\t\ ltkpbk bl Ntb\Yral3eYy� a lelgkhad tV1 a katla\aM hEbitd Na iaY hkl Bilker 154 \anattin�g\auba\app?o4'nn\�ithatlt\aabh�Alzkv#e\iek>b?!b`F`watt,ldablbakyAsaltat\foltY,\,1+\>a\xt\kkx�%\dppAdc3nls\nat\at3tat�tad.by 155 \lA��akavhlallba3a\kl ittCTebNiehll}ihA\2e),\this\adntbat\9t)aU\{eklttltktb\dn\kJeY\date\Tf\SeYlbnYs\to\aa1A]a�sOdN?oh#YthnYity\lalder 156 \ailcbbktk�hlbLalaash�rldans\�idtbn0�tb\s\,aaaara�,l3,ahaatiddebRoltbvt,'§�,\tbklca�t�cilrlayN�tb�lnYilstaa,dCsbxar`sbpkatl\\\\\\\ 157 6, APPRAISAL PROVISIONS. 158 a. Appraisal Condition. This subsection a. ❑ Shall ® Shall Not apply. 159\\\N3uyat\hhaNh'hkJc\Ilie\kala\apdbh an)d\cMlloh\lo\kcttnitlatatniabbatr t\Y\tbav?thdtbla\Pttta\�xbackis\fha\Prb�rbly\s\L�Ihdskh 160 'Atemmlalta ntlajipkaacibagagbdby\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\U%\\duklra2tknalntb3atbbatbby&iyat\�izv�6bdAr 161 WrktehWkhaaaiehiuhbiia>3 alaalNckh\cbbN b$kldh\ippkaNw\OhwnvtahbbitiL'&\ls1\dek`tnna3bb3$this\thaYrlJptikty4bhiultidn\isvass 162 hhahWaxlrkn�aY'kil�YadcXJcllbhbkbatble4lda?alshk\ba4d!kde\(§\2c}\IRSalkRdoas\tldtladeYJe\sl an\Jett)ztlbatide\atVatlriikdtlohbb\dr 163 'bbfbk*Xd�&V\ilDl3dlktte\ \ZcY,\Bayen�kabs\ar rlgvtllo\tgAzlh3tbbadjrtAkkabsadl%h\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 164 b. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this contract shall be timely paid by ® Bayer 165 ❑ Seller. 166 7. EVIDENCEOFTITLE, 167 a, Evidence of Title. On or before Title Deadline (§ 2c), Seller shall cause to be fiunished to Buyer, at Sellers expense, a 168 current commitment for owner's title insurance policy (Title Commitment) in an amount equal to the Purchase Price, or if this box is checked, 169 ❑ An Abstract of title certified to a current date. At Sellers expense, Seller shall causethe title insurance policy to be issued and delivered 170 to Buyer as soon as practicable at or after Closing. If a title insurance commitment is firnished, it ® Shall ❑ Shall Not commit to delete or 171 insure over the standard exceptions which relate to: 172 (1) parties in possession, 173 (2) unrecorded casements, 174 (3) survcymatters, 175 (4) any unrceordedmechanic'sliens, 176 (5) gap period (effective date of commitment to date deed is recorded), and 177 (6) unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing. 178 Any additional premium expense to obtain this additional coverage shall be paid by ❑ Buyer ❑ Seller. 179 b. Copies of Exceptions. On or before Title Deadline (§ 2c), Seller, at Scller's cxpcnse, shall furnish to Buyer and 180 buyer's Attorney, 181 plats, declarations, covenants, conditions and restrictions burdening the Pr , (1) a copy of o be g operty, and (2) if a title insurance commitrnent is required to be 182 furnished, and ifthis box is checked ❑ Copies of any Other Documents (or, if illegible, summaries of such documents) listed in the 183 schedule of exceptions (Exceptions). Even if the box is not checked, Seller shall have the obligation to furnish these documents pursuant to this 184 subsection if requested by Buyer any time on or before Document Request Deadline (§ 2c). This requirement shall pertain only to 185 documents as shown of record in the offices of the clerk and recorder. The abstract or title insurance commitment, together with any copies or 186 summaries of such documents furnished pursuant to this section, constitute the title documents (Title Documents). PREPARED BY:4on M. Oates, CBS 3.7-04, Co o Buy and Sell Real Estate (Vacant Land - Farm- Ranch), Colorado Real Estate Commission Raa1FAST® re, 02005, Verslm 6.16. Software Registered to: Leonard M. Oates, Oates, Knezevioh & Gerdemwartz, P. C. Lt Buyers) bP03110106 14;13:52 Page 4 of 9 199— Seller(s) APR.14.2005 1,32PM OATES KNEZEVICH GAROENSWARrZ %0.1497 P. 6 187 C. Survey. On or before SurveyDeadlins(§2c) []Seller ® Buyer shall cause Buyer and the issuer ofthe Title Commitment 188 or the provider of the opinion of title if an abstract, to receive a cunent ❑ I 189 ®Ira covenant serve (the description checked is known ¢ Survoy)19t3,�\\ha� IMP �Lo��on\C��ficate 190\YarSurvey shall be paid by Buyer ❑ScBerlt\th8hdstb\de tk�h2t8o\lt{i\\\\\\\\\\\\\\\\\\\\ZAaY(\�t31\ttAdbl>Ash\itlbr 191 \hdfbie'�lb?vh� 192 8. TITLE AND SURVEY REVIEW. 193 a, Title Review. Buyer shall have the right to inspect the Title Documents. Written notice by Buyer of unmerchantability of title, 194 form or content of Title Commitment or of any other unsatisfactory title condition shown by the Title Documents, notwithstanding § 12, shall 195 be signed by or on behalf of Buyer and gwca to Seller on or before Title Objection Deadline (§ 2c), or within five (5) 196 receipt by Buyer of any change to the Title Documentscalendar days after or endorsement to the Title Cornmiancnt together with a copy of the document adding 197 any new Exception to title. If Seller does not roccive Buyer's notice by the date specified above, Buyer accepts the condition of title as 198 disclosed by the Title Documents as satisfactory. 199 b. Matters not Shown by the Public Records. Seller shall deliver to Buyer, on or before Off -Record Matters Deadline (§ 2c) 200 true copies of an leases and surveys in Seller's possession pertaining to the Property and shall disclose to Buyer all easements, liens (including, 201 without limitation, governmental improvements approved, but not yet installed) or other title matters (including, without limitation, rights of 202 first refusal, and options) not shown by the public records of which Seller has actual knowledge. Buyer shall have the right to inspect the 203 Properry to determine if any third party has any right in the Property not shown by the public records (such as an unrecorded easement, 204 unrecorded lease, or boundary line discrepancy). Written notice of any unsatisfactory condition disclosed by Seller or revealed by such 205 inspection, notwithstanding § 12, shall be signed by or on behalf of Buyer and given to Sellcr on or before Off -Record Matters Objection 206 Deadline (§ 2c). If Seller does not receive Buya's notice by said date, Buyer accepts title subject to such rights, if any, of thud patties of 207 which Buyer has actual knowledge. 208 C. Survey Review. Buyer shall have the right to inspect Survey. If written notice by or on behalf of Buyer of any unsatisfactory 209 condition shown by Survey, notwithstanding § 8b or § 12, is received by Seller on or before Survey Objection Deadline (§ 2c) then such 210 objection shall be deemed an unsatisfactory title condition. If Sellcr does not receive Buyer's notice by Survey Objection Deadline (§ 2c), 211 Buyer accepts Surveyas satisfactory. 212 d. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION 213 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE 214 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR 215 INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT 216 WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH 217 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYER SHOULD INVESTIGATE THE DEBT 218 FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDEBTEDNESS OF 219 DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POSUCH TENTIAL 220 FOR AN INCREASE IN SUCH MILL LEVIES. 221 In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as a result, if 222 written notice is received by Seller on or before Off -Record Matters Objection Deadline (§ 20), this contract shall then terminme. If 223 Seller does not receive Buyer's notice by such daze, Buyer accepts the effect of the Property's inclusion in such special taxing district 224 and waives the right to terminate. 225 e. Right to Object, Cure. Buyer's right to object shall include, but not be limited to those matters listed in § 12. If Scller receives 226 notice of unmerchantabifity of title or any other unsatisfactory title condition or commitment terms as provided in subsection 8 a, b, c and d 227 above, Seller shall use reasonable efforts to correct said items and bear any nominal expense to correct the same prior to Closing. If such 228 unsatisfactory tale condition is not corrected to Buyers satisfaction on or before Closing, this contract shall Then terminate; provided, however, 229 Buyer may, bywritten notice received by Seller on or before Closing, waive objection to such items. 230 f. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed carefully. 231 Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including 232 without limitation boundary lines and encroachments, area, zoning, unrecorded easements and claims of easements, leases and 233 other unrecorded agreements, and various laws and governmental regulations concerning land use, development and environmental matters. 234 The surface estate may be owned separately from the underlying mineral estate, and transfer of the surface estate does not necessarily 235 Include transfer of the tttineral rights. Third parties may )told interest in oil, gas, other minerals, geothermal energy or water on or 236 under the Property, which interests may give them rights to enter and use the Property. Such matters may be excluded from the title 237 insurance policy. Buyer is advised to dmely consult legal counsel with respect to all such matters as there are strict time limits provided in this 238 contract (e.g, Title Objection Deadline [§ 201 and Off -Record Matters Objection Deadline [§ 2cn. 239 9. LEAD-BASED PAINT. Unless exempt, if the improvements on the Property include one or more residential dwellings for 240 which a building permit was issued prior to January 1, 1978, this contract shall be void unless a completed Lead -Based Paint Disclosure 241 (Sales) form is signed by Seller and She required real estate licensees, which must occur priorto the parties sighting this contract. 242 10. PROPERTY DISCLOSURE, INSPECTION AND INSURABILITY, BUYER DISCLOSURE. Onorbefore Seller's Property 243 Disclosure Deadline Q 2c), Seller agrees to provide Buyer with a Seller's Property Disclosure (Vacant Land) form completed by Seller to the 244 best of Seller's current actual knowledge. 245 a, Inspection Objoction Deadline. Buyer shall have the right to have inspections of the physical condition of the Property 246 Inclusions, at Buyer's expense. If the physical condition of the Property or Inclusions is unsatisfactory in Buyers subjective discretioBuyer 247 shall, on orbefore Inspection Objection Deadline (§2c): 248 (1) notify Seller in writing that this contract is terminated, or PREPARED BY: l�nare .Oates, CBS 3-7-04, Co t uy and Sall Real Estate acant Land - Farm - RaaIFA$T® (V Ranch). Colorado Real Estate Commission ®2005, Version 6.16. Software Registered to: LaonaM M. Oates, Oates, Knezevlch & Garosnswart; P. C. Buyers) p� ��s 03/10/0514:13:52 /—T�— Pape 5 of 9 Seller(s) APR. 14.2005 1:32PM GATES KNEZEVICH GAROENSWARTZ Q-1497 P. 7 249 (2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires Seller to correct 250 (Notice to Conect). 251 If written notice is not received by Seller on or before Inspection Objection Deadline (§ 2c), the physical condition of the Property and 252 Inclusions shall be doomed to be satisfactory to Buyer. 253 b, Resolution Deadline. If a Notice to Correa is received by Seller and if Buyer and Seller have not agreed in writing to a 254 settlement thereof on orbeforc Resolution Deadline (§ 2c), this contract shall terminate one calendar day following the Resolution Deadline, 255 (§2c), unless before such termination Sellor receives Buyer's written withdrawal of the Notioeto Correa. 256 C. Insurability, This contract is conditioned upon Buyer's satisfaction, in Buyer's subjective discretion, with the availability, terms, 257 conditions andpremium for property insurance. This contract shall terminate upon Seller's receipt, on or before Property Insurance Objection 258 Deadline (§ 2c) of Buyer's written notice that such insurance was not satisfactory to Buyer. If said notice is not timely received, Buyer shall 259 have waived any right to terminate under this provision. 260 d, Damage, Liens and Indemnity. Buyer is responsible for payment for all inspections, surveys, engineering reports or for 261 any other work performed at Buyer's request and shall pay for any damage which occurs to the Property and Inclusions as a result of such 262 activities. Buyer shall not permit claims or liens of any kind against the Property for inspections, surveys, engineering reports and for any 263 other work performed on the Property at Buyer's request. Buyer agrees to indemnify, protect and hold Seller harmless from acrd against 264 any liability, damage, cost or expense incurred by Seller in connection with any such inspection, claim, or lien. This indemnity includes 265 Seller's right to recover all costs and expenses incurred by Seller to enforce this subsection, including Seller's reasonable attorney and legal 266 fees. The provisions of this subsection shall survive the termination of this contract. 267 11. CLOSING. Delivery of deed from Seller to Buyer shall be at closing (Closing). Closing shall be on the date specified as Closing Date 268 (§ 2c) or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by 269 Pitkin County Title, Inc. 270 12. TRANSFER OF TITLE. Subject to tender or payment at Closing as required herein and compliance by Buyer wth the other 271 terms and provisions hereof, Seller shall execute and deliver a good and sufficient speccLal warranty dead to Buyer, at Closing, 272 conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as provided herein, title shall be 273 conveyed froo and clear of all liens, including any governmental liens for special improvements installed as of the date of Buyer's 274 signature hcrcon, whether assessed or nor. Title shall be conveyed subject to: 275 A. those specific Exceptions described by reference to recorded documents as reflected in the Title Documents accepted by Buyer 276 in accordance with § 8a (Title Review), 277 It. distribution utility easements, 278 \\\\b\\\\\'ODZal kBcha�tdashckibaaid§htSbit9iid11drllas\ildt\Ska\3iVry\thA�lgdlc\r�adry�bfivVtkY\gtlykklultc\ildttLs�lVid 279 \ahknwak\kh3oaaBy\Ea}kerb\a�adrliidcawvth\§\9b\(YvTdtit?�s\hyat\Staaltbyu%\PdbuaT2�adrasyeble\ty\\\\\\\\\\\\ 280 d. inclusion of the Property within any special taxing district, 281 e. the benefits and burdens of any declaration and parry wall agreements, if any, and 282 f. otter 283 13, PAYMENT OF ENCUMBRANCES Any encumbrance required to be paid shall be paid at or before Closing from the proceeds of this 284 transaction or from any other source. 285 14. CLOSING COSTS, DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good funds, their respective Closing costs 286 and all other items required to be paid at Closing, except as otherwise provided herein. Buyer and Seller shall sign and complete all 287 customary or rcasonebly required documentsat or before Closing. Fees for real estate Closing services shall be paid at Closing by 288 ❑ One-half by Buyer and One-half by Seller ❑ Buyer ❑ Seller ❑ Other 289 290 The local transfer tax of *• % of the Purchase Price shall be paid at Closing by ❑ One-half by Buyer and One-half by 291 Seller ❑ Buyer ❑ Seller 0 Other "sae Additional Provisions Continued Transfer Taxes \Atl}:lt U%`akd 292 \este\t1>,i1,ht,tnll�aClk\BebaJsbb`FN$s\t13rtaa2ttulnkh�Il,ed.�rria+dhaaitadiiyt.\'Gl�ttybk\�9elltit 293 15. PROBATIONS. The following shall be prorated ro Closing Date (§ 2c), except as otherwise provided: 294 a Taxes. Personal property taxes, if any, and general real estate taxes for the year of Closing, based on ❑ Taxes for 295 the Calendar Year Immediately Preceding Closing ❑ Most Recent Mill Levy and Most Recent Assessment ®Other 296 N/A — soller is have e F 297 \\\\h\\\\\ RlektelYC�ht1 ba9eilbb\\ YdebLs\\Rctdill►yt Faekarlad\\\ hl�"\Saeuh� ajpb�Ttsihctla bj \�Nar\SYthN b>:kl kiit>falo 298 \Bilyta�.\neva,\#Igxh?esY�lt\:llnhasblfd,Baytekatlel,BhyvetsArlahtkalkitQaJchvaasasl\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 299 300 C. Other Prorations. Water and sewer charges; interest on continuing loan and 301 none other, 302 d, Final Settlement Unless otherwise agrtcd in writing, these prorations shall be final. 303 16. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date and Possession Time (§ 2c), subject to the 304 following leases or tenancies: 305 None, 306 If Seller, after Closing, fails io deliver possession as specified, Seller shall be subject to eviction and shall be additionally liable to Buyer 307 for payment of S 15o. to per day from the Possession Date 2c until possession 308 17.\hi`Mk'6SIGNABLE. This contract shall not be assignable by Buyer without SeIler'sp iornwrittenconsem.\$�c`eNt hAad,'Vskk)0d, 309 this contract shall flus to the benefit of and be binding upon the heirs, personal representatives, successors and assigns ofthe parties. PREPARED Oates, CBS 3-7-nd Sell Real Estate (vacant Land - Farm - Ranch). Colorado Real Estate Commission ReaIFA$T Version e.16. Software Registered to: Leonard M. Oates, Oates, Knezevlch & Gafdenewartz, P. C, Buyers)'7�C D3110105 14.13:62 Page 6 of a �f-- Seller(s) APR.14,2005 1:32PM OATES KNEZEVICH GARDENSWARTZ NO,1491 P. 8 -310 IS. INSURANCE; CONDITION OF, DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided in this contract, 311 the Property, Inclusions or both shall be delivacd inthe condition existing as of the date of this contract, ordinary wear and tear excepted. 312 a. Casualty Insurance. In the event the Property or Inclusions shall be damaged by fire or other casualty prior to Closing, 313 in an amount of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same before the 314 Closing Date (§ 2c). In the event such damage is not repaired within said time or if the damages exceed such sum, this contract may be 315 terminated at the option of Buyer by delivering to Seller written notice of termination. Should Buyer elect to carry out this contract 316 desphe such damage, Buyer shall be entitled to a credit, at Closing, for all the insurance proceeds resulting from such damage to the 317 Property and Inclusions payable to Seller but not the ownors' association, if any, plus the amount of any deductible provided for in such 318 insurance policy, such credit not to exceed the total Purchase Price. 319 b. Damage, Inclusions and Services. Should any Inclusion or service (including systems and components of the Property, e.g. 320 heating, plumbing, etc.) fail or be damaged between the date of this contract and Closing or possession, whichever shall be earlier, then Seller 321 shall be liable for the repair or replacement of such Inclusion or service with a unit of similar size, age and quality, or an equivalent 322 credit, but only to the extent that the maintenance or replacement of such Inclusion, service or fixture is not the responsibility of the 323 owners' association, if any, less any insurance proceeds received by Buyer covering such repair or replaecmmt, The risk of loss for any 324 damage to growing crops, by fire or other casualty, shall be bome by the party entitled to the growing crops, if any, as provided in § 3 and 325 such parrysball be entitled to such insurance proceeds or benefits for the growing crops, if any. 326 C. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through the 327 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this contract. 328 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document, Buyer and Seller acknowledge that the 329 respective broker has advised that this document has important legal consequences and has recommended the examination of title and 330 consultation with legal and tax or other counsel before signing this contract 331 20, TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or chock received as Earnest Money 332 hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any other obligation hereunder is not 333 performed or waived as herein provided, there shall be the following remedies: 334 a. If Buyer is in Default: 335 ❑ (1) Specific Performance. Seller may elect to treat this contract as canceled, in which case all payments and 336 things of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may be 337 proper, or Seller may cleet to treat this contract as being in full force and effect and Seller shall have the right to specific performance 338 or damages, or both. 339 ® (2) Liquidated Damages, All payments and things of value received hereunder shall be forfeited by Buyer and 340 retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments 341 and things of value are LIQUIDATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE AND ONLY 342 REMEDY for Buyer's failure to perform the obligations of this contract Seller expressly waives the remedies of specific performance 343 and additional damages. 344 b. If Seller is in Default: Buyer may elect to treat this contract as canceled, in which case all payments and things of 345 value received hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this 346 contract as being in full force and effect and Buyer shall have the right to specific performance or damages, or both. 347 C. Costs and Expenses. In the event of any arbitration or litigation relating to this contract, the arbitrator or court shall 348 award to the prevailing party all reasonable costs and expenses, including attorney and legal fees. 349 21. MEDIATION. If a dispute arises relating to this contract, prior to or after closing, and is not resolved, the parties shall first 350 proceed in good faith to submit the matter to mediation. Mediation is a process in which the patties meet with an impartial person who 351 helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the dispute must 352 agree before any settlement is binding. The patties will jointly appoint an acceptable mediator and will share equally in the cost of such 353 mediation. The mediation, unless otherwise agreed, shall terminate in the event the entire dispute is not resolved within 30 calendar days of 354 the date written notice requesting mediation is seat by one party to the other at the party's last known address. This section shall not alter any 355 date in this contract, unless otherwise agreed. 356 22, EARNEST MONEY DISPUTE. In the event of any controversy regarding Earnest Money and things of value (notwithstanding any 357 termination of this contract, or mutual written instructions), Earnest Money Holder shall not be required to take any action Earnest Money 358 Holder may await any proceeding, or at its option and sole discretion, interplead all parties and deposit any money or things of value into a 359 court of competent jurisdiction and shall recover court costs and reasonable attorney and legal fccs fees. 360 23. TERMINATION. In the event this contract is terminated, all payments and things of value received hereunder shall be returned and 361 the parties shall be relieved of all obligations hereunder, subject to §§ 10d, 21 and 22. 362 24. ADDITIONAL PROVISIONS, (The following additional provisions have not been approved by the Colorado Real Estate Commission.) 363 sea attached Additional Provisions continued, 364 365 25. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL, This agroortoirt constitutes Ole entire contract between the parties 366 relating to the subject hereof, and any prior agreeltrems pertaining thereto, whether oral or written, have been merged and integrated 367 into this contract. No subsequent modification of any of the tains of this contract shall be valid, binding upon the parties, or enforceable 368 unless made in writing and signed by the parries. Any obligation in this contract that, by its terms, is intended to be performed after 369 termination or Clolsfng shall survive the same. PREPARED By, on M. Oates, CBS 17.04, Buy and Sell Real Estate (Vacant Lana - Farm - Rench). Colorado Real Estate Commission ReaIFA$T e, m2005, version 6.16. Software Reglsterad to: Leonard M. Oates, Oates, Knezevich 8 Gardenswariz. P. O. Buyer(s)��ff�,(� 03/10/05 14:13:52 Page 7 of 9 Saller(s) APR. 14. 2005 1:33PM OATES KNEZEVICH GARDENSWARTZ N0, 1497 P. 9 -370 26. NOTICE, DELIVERY AND CHOICE OF LAW. 371 a. Physical Delivery. Except for the notice requesting mediation doscribed in § 21, and except as provided in § 26b below, all 372 notices must be in writing Any notice to Buyer shall be effective when received by Buyer or by Selling Brokerage Firm, and any notice to 373 Seller shall be effective when received by Seller or Listing Brokerage Firm - 374 b. Electronic Delivery. As an alternative to hysical delivery,any signed dominant and written notice may be delivered in 375 electronic form by the following indicated methods only: Facsimile cumE-mail ❑ None. Documents with original signatures shall be 376 provided uponrequest of any party. 377 C. Choice of Law. This contract and all disputes arising hereunder shall be governed by and consmed in accordance with the laws 378 of the State of Colorado that would be applicable to Colorado residents who sign a contract in this state for properrylocated in Colorado. 379 27, NOTICE OFACCEPTANCE, COUNTERPARTS. This proposal shall expire unless accepted in writing, by Buyer and 380 Seller, as evidenced by their signatures below, and the offering party receives notice of acceptance pursuant to § 26 on or before 381 Acceptance Deadline Date (§ 2c) and Acceptance Deadline Time (§ 20). If accepted, this document shall become a contract between 382 Seller and Buyer. A copy of this document may be executed by each party, separately, and when each party has executed a copy thereof, such 383 copies taken together shall be deemed to be a full and complete contract between the parties. 384 BUYER s DATE Dirk Detveiler and Assigns (•Detweiler^) PO Box 812, Aspect, CO 81612 Fax #: (970) 925-8639 BUYER Deborah J. Burek PO Box 812, A) Fax #: (97.0; DATE Detweiler and Burek together as to an undivided one-half inter BUYER Rich Wagar or Assigns (°Wagar^), as to an undivided one-half interest 533 $as king Avenue, Suite 101, Aspen, CO 81611 Bus.#. (970) 920-3131 Fax #: (970) 920-1010 385 [NOTE; If this offer is being countered or rejected, do not sign this document. Refer to § 281 386 DATE Pitkin County Board of County Commissioners c/o Debbie Quinn, Assistant County Manager, Courthouse Plaza Building, 530 East Main Street Aspen, CO. 81611 Bus.# (970) 920-5200 )Fax #: (970) 920-5198 By: Coa®issioner r 387 28. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected. 388 Initials only of party (Buyer or Seller) who countered or rejected offer 389 390 END OF CONTRACT 391 392 393 Note; Closing Instructions and Earnest Money Receipt should be signed on or before Title Deadline (§ 2c). 394 BROKER ACKNOWLEDGMENTS, The undersigned Brokers acknowledge receipt of the Earnest Money deposit specified in § 4 and, 395 while not parties to the contract, agree to cooperate upon request with any mediation conducted under § 21. 396 397 The Selling Broker is a ® Buyer's Agent ❑ Transaction -Broker in this transaction. 398 399 �TAAbictirlgBinic�r\r��� �4euat\ik�arlt�� C7CLYl3fsialliatl Brandr�h�tA� tia�dabbiari 400 401 BROKERS' COMPENSATION DISCLOSURE, PREPARED BY: Leonard M. Oates, 16 CBS 3-7-04, Contract to Buy and Sell Real Estate (Vacant Land - Farm - Ranch). Colorado Real Estate Comnuseion Re5lFASTO Software, 02005, version 6.16, Software Registered to; Leonard M. Oates, Oatea, Knezevich 6 rzardenswartz, P. C. 03x10/05 14;13:52 Page 8 of 9 APR,14.2005 1:33PM OATES KNEZEVIGH GARDENSWARTZ N0.1497 P. 10 402\S3Ili$kagb34\dok?tkah�hbi\adaldatsktb>tYs\ibUbj�irltb 403\1310thar\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\. 404\\\\\\\\ \\\\ \\\\\\\\\\\\ \ \\\\\\\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 405\(rb'baba��ha��y 407 409 409 By: Signature 410 411 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 412Tdt&,\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ 413 414 41$ PREPARED BY: o ard M. fes, CBS 3-7-04, o and Sell Real Estate (Vacant Land • Farm • Ranch). Colorado Real Estate Oonsnission RBa1FAE'f® a 2005, Version 6,15. Software Registered to: Leonard M. Oates, Oates, Knmvlch & Gardenswartz, P. c. Euyar(s) �. pj� 03/10/0515:25:28 Date MI Page 9 of 9 Seller(s) — APR.14.2005 1:33PM OATES KNEZEVICH GARDENSWARTZ N0.1497 P. 11 ADDITIONAL PROVISIONS CONTINUED THIS ADDITIONAL PROVISIONS CONTINUED is entered into simultaneously with this attached Contract to Buy and Sell Real Estate (Vacant Land -Farm -Ranch) dated January 5, 2005 between Dirk Detweiler and/or Assigns Deborah J. Burek and/or Assigns and Rich Wagar and/or Assigns as Buyer and Pitkin County Board of County Commissioners as Seller for the property known as Easement — Parcel #3, Reception No. 401780, City of Aspen, County of Pitkin Colorado and is supported by the terms, conditions and covenants set forth below. In the event of any conflict between the provisions of the Contract and the provisions of this Additional Provisions Continued, the provisions of this Additional Provisions Continued shall govern and control. 24.01 TITLE. Paragraph 2.a., Defined Terms. Upon lot line adjustment, conveyance will be to Wagar with cross -conveyances between Wagar and Detweiler and Burek for the approved lot line adjustment. 24.02 ACCRUED INTEREST AND EARNEST MONEY. An earnest money deposit of $20,000.00 shall be delivered to Pitkin County Title, Inc. forty-eight (48) hours after mutual acceptance of the Contract in the form of a personal check. Said earnest money shall be placed in two (2) separate interest bearing earnest money accounts of $10,000 each with all interest to accrue to Buyer Dirk Detweiler, Social Security #S r// a'GGY and Rich Wager, Social Security # 371-50- 1992, unless Buyer default and then interest accrues to Seller. 24.03 BUYER REAL ESTATE LICENSEE. Rich Wagar, one of the Buyers, represents that he is a licensed real estate agent in the State of Colorado. 24.04 CAPACITY AND AUTHORITY. (a) Seller's Capacity. The undersigned has the right, power, legal capacity and authority on behalf of Seller, to enter into this Contract and when executed by the individuals named below, this Contract will constitute the valid and binding obligation of Seller, enforceable in accordance with its terms. No consent to such execution (or delivery or performance) is required from any creditor, investor, judicial or administrative body, governmental authority or other party. Neither the execution of this Contract nor the consummation of the transactions contemplated hereby will violate any restriction, court order or agreement to which Seller or the Property is subject. (b) Buyer's Capacity. The undersigned Buyers collectively have the right, power, legal capacity and authority to enter into this Contract and when executed by the individuals named below, this Contract will constitute the valid and binding obligation of Buyers, enforceable in accordance with its terms. No consent, disclosure, representation, authorization, waiver, disbursement, assignment or modification with respect to this Contract shall be effective or binding against any Buyer unless given in writing, and signed by each of the Buyers listed below. 24.05 ANNEXATION OF PROPERTY INTO CITY OF ASPEN. From and after the date hereof, Buyers, at Buyers' expense, may file, process, and negotiate with the City of Aspen a petition for annexation of the Property into the city limits of the City of Aspen as an approved P.U.D. amendment defined in the attached map labeled Exhibit "B" adjusting the lot lines between Lots 1 and 2 of the Wagar/Detweiler Subdivision, and on such other terms and conditions which are Q\!MO Data & Forms\Data\Climes\Wage, Richard\2wcmmt Purchase\2AddicionalProvisions2Al.doc Page 1 I?j APR,14.2005 1,33PM OATES KNEZEVICH GARDENSWARTZ NO. 1491 P. 12 satisfactory to the Buyers in the Buyers' sole and absolute discretion. The Seller agrees to reasonably cooperate with the Buyers' filing, processing, and negotiation of such petition for annexation, and upon Buyers' request, shall provide Buyers with written verification of Seller's ownership of the Property and Seller's consent to Buyer's filing, processing and negotiation of such petition for annexation. The Buyer's application shall require that the final annexation and lot line adjustment shall occur contemporaneously with the closing and conditioned thereon. At any time prior to the City of Asperi s adoption of an Ordinance approving the annexation of the Property into the City of Aspen, granting of the lot line adjustment, either Buyers or Seller, in their sole discretion, may elect not to pursue annexation of the Property into the City of Aspen, or the lot line adjustment, and upon delivering written notice of such election to Seller, this Contract shall immediately terminate, and Buyers sball be entitled to the immediate refund of Buyers' earnest money deposit. At such time as the Property shall be finally annexed into the City of Aspen this agreement shall become a specific performance agreement as against the Buyers by the Seller 24.06 CLOSING DATE. Paragraph 2(c), Dates and Deadlines, Item No. 20, § 11. Closing Date shall be a date which is ten (10) days after the City of Aspen's adoption of an Ordinance approving the annexation of the Property into the city limits of the City of Aspen, plus the expiration of any period of time for the filing of a notice of appeal with the City of Aspen with respect to such Ordinance. In the event that such notice of appeal is timely filed, the Closing Date shall be a date which is fourteen (14) days after a non -appealable denial of such appeal; provided, however that in the event that the Buyers are unable to secure a non -appealable ordinance providing for the annexation of the Property into the city limits of the City of Aspen on or before November 5, 2005 or obtain the lot line adjustment, this Contract shall thereafter automatically terminate and Buyers shall be entitled to the immediate refund of Buyers' earnest money deposit. 24.07 EPA/DISCLOSURE AND DISCLAIMER REGARDING SUPERFUND. Seller discloses to Buyer that the property at one time was included in or designated by the Environmental Protection Agency as a superfund site. Buyer acknowledges such disclosure and waives for himself, his successors, assigns, and personal representatives, any claim for damages, breach of contract, default, fraud, rescission or otherwise as a result of the existence of, or the testing or inspection to determine the existence of any hazardous substance or environmental pollutant on the property, or the contamination of the property by any hazardous substance or environmental pollutants in violation of any federal, state or local governmental statutes or ordinances, including without limitation violation of the comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA"), 42 U.S.C. Section 9601, et sea as amended by the Superfund Amendments and Reauthorization Act of 1986 ("SARA'), or any other federal, state or local law, including without limitation any solid, liquid, gaseous, or thermal irritant or contaminant, such as smoke, vapor, soot, fumes, acids, alkalis, chemicals or waste, including material to be recycled reconditioned or reclaimed (collectively "Substances") have been or shall be discharged, dispersed, released, stored, treated, generated, disposed of or allowed to escape on or in the real property. 24.08 SATURDAY, SUNDAY OR HOLIDAY. If any time period (with the exception of the date specified for notice of acceptance) 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. 24.09 SURVEY. The Buyer shall obtain, at Buyer's expense, on or before Survey Deadline a current improvement survey of the Property, prepared by a licensed Colorado land surveyor showing the QNLM0 Data & Forms\Dm\Cli)nss'WaPr, aichard�Ru=mt P=We\2Additiona1Prov1s1ons2A1.dm a z Page 2 1 `1e APR, 14. 2005 1;33PM OATES KNEZEVICH GARDENSWARTZ NO. 1497 P. 13 location of all boundaries, improvements, easements or rights of way, ditches, fences or other encumbrances. Said survey shall be sufficient for the purpose of removing the preprinted exceptions related to the survey detailed in Schedule B, Section 2 ("Exceptions") of the title policy. The Buyer shall have seven (7) days from receipt to review the survey. If Buyer, in Buyer's sole discretion, is dissatisfied with any condition, Buyer shall give written notice of such objection(s) to Seller within same seven (7) days ("Survey Objection Deadline") and if said unsatisfactory condition(s) cannot be cured by the Seller or written agreement as to a cure has not been reached on or before seven (7) days from Buyer's Notice to Seller of said unsatisfactory condition(s) ("Survey Resolution Date"), this Contract shall terminate and all earnest money shall be refunded. During the three (3) days following the Survey Resolution Date, Buyer shall have the right to waive the survey objections and proceed with the Contract. 24.10 TITLE DOCUMENTS AND NOTICES. Notices shall be deemed delivered when either faxed, hand delivered or three days after deposit in the U.S. Mail, certified return receipt requested to the office of the respective broker. Copies shall be mailed to: BUYER: Dirk Detweiler and/or Assigns P.O. Box 812 Aspen, Colorado 81612 Facsimile: (970) 925-8639 BUYER Deborah J. Burek and/or Assigns P.O. Box 812 Aspen, Colorado 81612 Facsimile: (970) 925-8639 BUYER: Rich Wagar and/or Assigns 533 E. Hopkins Avenue, Suite #101 Aspen, Colorado 81611 Facsimile: (970) 920-1010 WITH COPIES TO: Leonard M. Oates, Esq. and Rich Wagar Oates, Knezevich, Gardenswartz, P.C. Rich Wagar Associates, LLC 533 E. Hopkins Avenue, Third Floor 533 E. Hopkins Avenue, Suite #101 Aspen, Colorado 81611 Aspen, Colorado 81611 Facsimile: (970) 920-1121 Facsimile: (970) 920-1010 SELLER: Pitkin County Board of County Commissioners c/o Debbie Quinn, Assistant County Manager Courthouse Plaza Building 530 East Main Street, Third Floor Aspen, Colorado 81611 Facsimile: (970) 920-5198 WITH COPIES TO: C:V.MO Data & F0MS\1)aCa\C1teat9\W19a , Richard\F e.....a„ Pw0hss0\2AddWom1Pm,isiom2A1.doc %/ / Page 3 I q APR. 14. 2005 1:33PM OATES KNEZEVICH GARDENSWARTZ NO. 1497 P. 14 John M. Ely, Esq, Pitkin County Attorney Courthouse Plaza Building 530 East Main Street, Third Floor Aspen, Colorado 81611 Facsimile: (970) 920-5198 24.11 BUYERS' RIGHTS. As between the Buyers, in the event that either Wagar, or Detweiler and Burek determines, in such Buyer's sole and absolute discretion, not to proceed with such Buyer's participation in the purchase of the Property pursuant to express provisions set forth herein which allow the Buyers to terminate this Contract under certain circumstances, the Buyer so electing not to participate shall notify the other Buyer of such fact in writing, and within two (2) business days of the other Buyer's receipt of such written notice, the Buyers shall either. (1) jointly inform the Seller of both Buyers' termination of this Contract; or (2) jointly inform the Seller that one of the Buyers has elected not to participate in the purchase of the Property. Thereafter, the non -participating Buyer's portion of the earnest money deposit shall be returned to the non -participating Buyer, the participating Buyer shall restore the earnest money deposit to its full amount as provided for herein, and the non -participating Buyer shall be released by the Seller and the participating Buyer from any further obligations or liability under this Contract. Except as provided for immediately above, in the event that either Wagar, or Detweiler and Burek fail to perform their obligations hereunder, the other party Buyer of them may, at his or their option proceed with the purchase alone by paying the remainder of the purchase price. If he or they shall do so, the conveyance of the Property shall be made by the Seller solely to the party choosing to go forward with the purchase and that party Buyer shall have a cause of action against the other party Buyer to require the party or parties who have not performed to pay his or their one-half share of the purchase price (and attorney's fees and costs). SIGNATURE LINES: BUYER: Q2�� Di Detweilecanebr Assigns Date BUYER: Date Rtch ar and/or Assigns / Date C:V,MO DaU Rc Por Ts a\Cl"'AWapr,Richard\Faftnt Pumhuc\2AddidOMIProvisio=2At.doc Page 4 APR.14.2005 1:33PM OATES KNEZEVICH GARDENSWARTZ N0, 1497 P. 15 SELLER: Pitkin County Board of Count Commissioners By:� l"S Commissioner Date Cata& Data\Clienc3�Wagar, Ric6ard�Fssemmt Furcliva�ZgddirioaslProvitiony2Al.doc Page 5 D9 1 APR. 14. 2005 1:33PM JF00.28. 2004 8q OATES KNEZEVICH GARDENSWARTZ N0.1497 P. 16 6;26PM No.0486 P. 15 '/13/1997 02:50p FG 5 E)DUI ' A Par -cel . A parcel of land situate in Section 71 Township 10 South, Range 84 West of the Si> tjt Yrineipal ,Meridian beir{g more pardcularly descrIed as follows. Beginning ata rt S h SUre dj' and plastic cap LS, 15710 atthe Northwesterly comer of Lot fy S=uwy 1p$rkNortl�ditiON City of Anpcp, Co" of Pitkin, Slate of Colorado thence along a line descrl'bed in Book 466 at Page 302 of the records of the Pitkin County Clerk and Recorder N.88 - o0'ooryE. a distance of 40.37 fee; thence depariir& said line N88 ° S 7'09"E, a distsZce of 71.94 fret; thence along a Iine 30 feet Westerly of and parallel with the consfzucted GEnterline. of Park Circle 11028 feet along the arc of a curve to the right, having a radius 247.89 feet, a central angle of 25' 29'18", and subtending chord bewixIS S09 5410011W. a disEarice of I09.37 feet thence M.4 6 16 14 Wtra distance of 107.35 feet to the FODr OF'HEGINiVITtG Said pael contai 6439 square feet, more or less. APR.14.2005 1;33PM OATES KNEZEVICH GARDENSWARTZ N0. 1497 P. 17 MCI-. .28. 2004 6;26PM i No .0486 P. 16 , STAN DSON ASSOcIA ucSde S?Os'WWL 7r_s+" Plmnm/gg L"a*capeArchttec4" Q > `^•100fiufLrdLr sr/ew•Rspwi. ce MefJ (B7g92S�29 .wpb_ _�` ' 0c(�rgs2aaeZe..aepxnn6gum•irrfi�mN�nVtC.mm ,5. __ 1 \ r I r � r � r I r i � Z \C s• / +� B••T7 Ssf 6Lddmg W/apy �'� / T, SAvI Baildfiy MV,00 ,�. qca\._--,—•-tet-\- � . / '�Xl 1s aEe4A lSav' mNczs C~ i ~ i r r A , G1 4 t° t� wager—Oetwei/en Property 26 ✓une 2003 Op Son D— Ceunty Property 1 "c3O •