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HomeMy WebLinkAboutbocc.ord.052.2000 AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO APPROVING THE ACQUISITION OF FLANIGAN PROPERTY ON SMUGGLER MOUNTAIN BY GIFT AND BY PURCHASE AND AUTHORIZING BOND SALES AND SUPPLEMENTAL BUDGET APPROPRIATION ORDINANCE #CL5� RECITALS 1. The preservation of scenic, recreational, and ecological features of Smuggler Mountain has been a priority since the inception of the Open Space and Trails Program. 2. Mickie Flanigan desires to sell approximately 37 acres on Smuggler Mountain, comprised of several mining claims, including in whole or part the Fossil, Glendale, Ballarat, Alma, Chatfield, General Jackson, and Arkansaw Claims, as described in the legal description attached as Exhibit A, hereinafter referred to as the Property. (Assessors Parcel # 273707100023.) 3. The seller's offer, pursuant to the terms and conditions of Exhibit B, is at less than the appraised value, and thus represents a bargain sale, and Ms. Flanigan intends to make a charitable contribution to the County of any such foregone value. 4. The City of Aspen has agreed to pay 50% of the purchase price if it obtains voter approval for its open space issue, thereby increasing the bargain to the Open Space and Trails Program. 5. Preservation of the Property as currently undeveloped would provide significant public benefit to the citizens of Pitkin County as well as to countless thousands of visitors to the area and the site. 6. Because of the high recreation value of the Property to the public, both in terms of assuring continued public use Smuggler Mountain Road, and in furtherance of the County's efforts to preserve the balance of the property from future development and to preserve the natural features of Smuggler Mountain, the Open Space and Trails Board of Trustees on October 5, 2000, by Resolution 00-05, has recommended that the County spend $675,000 of Open Space and Trails funds for the acquisition of the Property. 111111111111111111111111111111111111111 lil 111111111 IN 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI 1 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO Ordinance# Page 2 7. The Open Space and Trails Program was reauthorized last November for an additional 10 years with an increase in the available bonding authority. In endorsing the reauthorization, the County's Financial Advisory Board recommended that bonds be used to maximize the buying power of the program during the initial years of the next 10-year authorization. 8. The acquisition of this Property was not anticipated during the preparation of the year 2001 budget so a supplemental budget appropriation is required for these transactions. 9. Upon due and proper notice, published in accordance with the law, said supplemental budget will be open for inspection by the public at a designated place; a public hearing was held on December 6, 2000, and interested taxpayers were given an opportunity to file or register any objections to said supplemental budget. NOW THEREFORE, BE IT ORDAINED, by the Board of County Commissioners of Pitkin County, Colorado as follows: 1. The Board approves the acquisition of the Property from Flanigan on the terms and conditions substantially as set forth in Exhibit B, attached hereto. 2. The Chair is authorized to execute the contract in substantially the form attached as Exhibit B for the acquisition of the Property following approval of the form of those documents by the County Attorney's office and Open Space Director, and is authorized to execute such other documents as may be necessary to finalize this transaction. 3. The Chair is authorized to execute an Intergovernmental Agreement with the City of Aspen for this acquisition, which will provide for an assignment of a one-half interest in the contract and the City's payment of one half the purchase price and closing and other acquisition costs as consideration for the City's one-half interest in the Contract, in a form to be approved by the County Attorney and Open Space and Trails Director. 4. The recommended acquisition is conditioned on the City of Aspen's proposed sales tax increase for Open Space acquisitions being adopted by popular vote on November 7, 2000, thereby enabling the City to contribute its 50% of the purchase price. The County may waive this condition only upon recommendation of the Open Space and Trails Trustees to spend the additional money necessary to acquire 100% interest in the Property and approval of the Board of County Commissioners by ordinance. 5. The Board hereby declares its official intent to reimburse current expenditures from a future issuance of Pitkin County general obligation bonds. The current 111111111111111111111111111111111111111111 HI 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI IIII IN 2 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO Ordinance# Page 3 expenditures to be reimbursed include the purchase price and other acquisition costs for the Property. 6. Adjustments are made to the year 2001 budget as follows: OPEN SPACE AND TRAILS FUND Previous Revised Budget This Change Proj Budget Flanigan Property Acquisition of the Property found on Smuggler Mountain,will be reimbursed from a future issuance of county general obligation bonds: Bond proceeds (revenue) 0 700,000 700,000 Bond issuance cost expenditures 0 20,000 20,000 Acquisition and closing costs 0 $680,000 680,000 700,000 OPEN SPACE AND TRAILS FUND TOTAL NET REVENUE (EXPENDITURES) CHANGE 0 INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 11TH DAY OF OCTOBER 2000. NOTICE OF PUBLIC HEARING PUBLISHED IN THE WEEKEND EDITION OF THE ASPEN TIMES ON THE 14th DAY OF SEPTEMBER 2000. �v APPROVED SECO D READING AND PUBLIC HEARING ON THE - �g_259Pff—DAY OF 000. PUBLISHED AFTER ADQYTION IN THE W {END EDITION OF THE ASPEN TIMES ON THE DAY OF 2000. ATTEST: BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO i ,50���� ����� I IN 111111111111111111111111111111111 II 078 12/28/2000 01:90P ORDINANC DAVIS SILV!I 3 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO Ordinance# Page 4 Jeanette Jones Shellie Roy D uty Clerk Chair Date: APPROVED AS TO FORM: Deborah Quinn S z nne k nchan Assistant County Attorney 0adnty M nager ale Will, ector Open Space and Trails Program I'flll "III "IIII I'II'I 'lll 'I' IIIII"I III "III 'I'I II'I 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI 4 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO uLC Ob 'eb 1c: 10PM U,H,K&G P.8 371191 1 3 P-512• 06/17/94 10:35A PO 2 2 U11I111T "A" The Property T•. 10S., R.84W., 6th P,H. a) The Alms 11. Ledo Mining Claim, Mineral Survey Lot No. 3944 comprising 5.42 acres, more or less; and b) The Ballarat Lode Mining Claim, Mineral Survey Lot No. 4436, excepting the southern portion thereof, comprising 3.809 acres, more particularly described in an instrument recorded in the Pitkin County Records, Book 97, at Page 78, resulting in a remaining portion of the Dallarnt Lodo Mining O nim comprising 4.903 acres, mars or lose; and a) The Coastal Jackson Lode Mining Claim, Mineral Survey Lot No. 3941. excepting the southern portions, comprising 3.818 acres, more or less. more particularly described in an instrument recorded in the Pitkin County Records, in Soak 97, at Page 77 and 78; and 1.331 acres. more or less, more particularly described in the Pitkin County Records in Book 97 at Page 61, resulting in a remaining portion of the General Jackson Lode Mining Claim comprising 4.036 acres, more or less; and d) The Fossil Lode Mining Claim. Mineral Survey Lot No. 6910 comprising 6.891 acres, more cc legal and a) The Fossil Fraction Lode Mining Claim, Mineral Survey Lot No. 6910 comprising 0.763 acres; moss or lose; and f) The Glendale We Mining Claim, Mineral Survey Lot. No. 6859 comprising 2.11 eases, more or'1eia;. and g) The Arkeness hods Mining Claim, Mineral Survey Lac No. 8394 comprising, 2.603 acres, more or lose; and b) The Chatfield Lode Mining Claim, Mineral Survey Lot No. 1462• comprising 5.-106 acres, more or lesai and 1) The Part of Chatfield Lade tithing Claim, Mineral Survey Lot No. 1462 comprisLng 4.75 acres; Together with all easements, existing rights-or-way Wand water rights appurtenant thereto, as ouch will be conveddyed to G.M. Wilkinson, On Echo Films. e ting, and sarvfngy* ii, dineed ra(zr�`hts below 500 fact from the surface; and raserving to First Party the right to use existing rights-of-wny, old mining grails and water sights for the benefit of all the Claims comprising'the•entire .5mYggler property which is the subject of the Agreement batween rldelity!6 F1anlgan ' dli0ed September 9. 1907. , -ssj all mineral righto from the surface to 500 feet below the surface ind•an undivided one-half (1/2) of all mineral rights below 500 fact from •the . �Ifueta'ea,• .. II'lll IIIII 'llll' I'llll 'lll "I III'IIII III IIIII IIII IN 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI 5 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO DEC 06 '0 O,H,K&G P.2 I ! The printed portions of this fe• have been approved by tho Colorado Real Est ommisaion. (CBS 3-9-99) 3 THIS FORM HAS 7MPOR. ,T LEGAL ONSEQUENC AND'THE PA TIES SHOULD CONSULT LEGAL 4 +WD TAX OR OTHER COUNSEL BEFORE SIGNING. 6 )(f>�/7 CONTRACT TO BUY AND SELL REAL ESTATE 8 (VACANT LAND-FARM-RANCH) 9 Date: 10 1. ,',�M�y� Buyer agrees to buy and the undersigned Seller agrees to sell the Property l i terms and coedit o� ns act forth in this•contract. p rty defined below on the 12 2. 13 a, uyer o 14 property describe o ow as ❑Solnt Tenants en n, is n otumon will take title to the real 15 h or 1G Proeerty, The Property is the following legally described real estate: 17 ed 18 in the County of 19 c known as know as o. vn o era o, 20 Strect Ad Ness ' 21 together with the interests, easements,rights, banefits, improvements and attached fixtures a 22 Seller in vacated streets and allays adjacent thereto,except as herein excluded. PPurtenant thoreto,all interest of 23 c. ) Ates and De,dlines 24 Reference Event 1 5a Loan Application Deadline Deadlineto or 2 5b Loan Commitment Deadline 3 5c uyor'a Credit Information Deadline Sc D Disapproval o u er s Credit a ine 5 5d Ex stlaz Loan Documents Deadline NIX 6 5d Objection to Existing Loan Deadline F' 7 ,ate H F 5 A royal of oars Transfer Deadline N 8 —IL63 APpraisal Deadline 9 1 67a Title Deadline �a C. 7a Surve Deadline 0 7 1 i 7b Document Roguest Deadline C>'S 2061 12 8a Title Objection Deadline Q F 13 8b Off-Record Matters Deadline Z a 14 8b O -Record Matters Objeotion Deadline 2081 o 6 15 10 Seller's Pro Property Disclosure De, line p 6 16 l0a Inspection Objection Deadline 1L 6 17 I Ob Rcso ut on DesInc st Z IS 11 Closin Date In 19 .-.66 osaeasion ate 16 Possession Time 6 21 428 Acceptance Dead D, to G te s1_ 22 28 Ace lane, no Time �Nm ��B 25 d TlkeFe" wi inn gv ex / its,attaacm part of-this con 2:V o hents and adders a are a :28 N c- to A c ock or Simi ar mar to a ox means t at sue 30• abbreviation"N/A' means not app licable. prov�aionapp rcable. =n O 31 3. 11�ICLU6 NSA1yp EXCr 4nQw- 32 a The urehase Price includes the following items(Inclusions): 33 (I) Fixtures. If attached to the Property on the date of this contract, lighting, heating, 34 p�lumbing,ventilating,an air conditioning fixtures,inside telephone wiring and connecting bloeks/jscks,plants,mirrors. 35 door coverings, intercom systems, sprinkler systems and controls, and N/A 36 37 38 (2) rty 39 storm windows,storm doors,window an porch shad s,awni gs�biiRds se w at ar�n window coverings,unto f toidssco tact: 40 :•oda,storage sheds,and all keys. Check box if included:pSmoke/Fire Deteeton, ❑Security System(a);and�A 41 42 ( 43 With respoet to trn a xtures, a er and uyer agree as of ows: .\' A 44 45 i4) ts. The tb owing egal y dascrr od water rights: 0 any water righes. Any and all water rigtlts Ownedaed by Seller, if any, Seller makes no representations as to ownership of 47 48 49 5o 51 52 ' 53 (S) Growing Crops, With respect to the growing crops Sailer and Buyer � N/A P g g P yer agree as follows: 55 56 557 h The Inclusions are to be conveyed at Closing free and clear ofall eaxee, lions 9 Any water rights shall be conveyed by 12. Conveyance shalt bo by bill ofsale or other applicable legal instrument(:), deed or other applicable legal instrument(s). CBS 3-9-99 Contract to Buy and Sc1l Real Estate(Vacant Land-Farm-Ranch) Page 1 of 6 Prepared By, Pre John Kelly 8 mow,-.--..�_ CO.Oatew. r..�-�..r..►. .. _-._�__ Isttlal wrt: Po.n..srw�na�•pR,y`t(�„�+r v.yyD,(IWPJ 9t7.7107 Date:12—/361no --SIN:W10-s716 JEC e6 '00 12:07PM O,H,K&G P.3 60 a. Exclusions. The following attached fixtures are excluded 0 'his sale: 61 ' 62ras The set ort e,,,Buye ows:lB w s a • pays a in o srs y 64 Item No" erencs Mm mount Am 4 rchase ce i so.o00.00 a arnest one w oan so 000.00 c ssum ton a ance 5 4 e er or rivato non lingN A e t osi N/A 65 oa S o 000 00 66 a, Ba an Money. The Earnest Money set forth in this Section,in the form of vlraonaick ,is part payment 67 of the Purchase Price an s a be payable to and held by vitkin Co.Titla , in its trust account, on behalf of 68 both Seller and Buyer. The parties authorize delivery of the Earnest oney sposit to the Closing Company, if any, at or 69 before Closing, 70 MIR- 71 this ftctios.and aw © Con t er 72 This loan will be a a 1 at, 2n ,etc.)deed of trust. '73 The loan total loan a t in excess ofS shall be am vsr a period of 74 ❑years O months,payable at approxiIn �" ?S exceed °i6 er annum less if ro p including principal an interest not to 75 taxes an3propertpy insurance premium If the lea uye a at t of the estimated annual real estate 77 interest rate initially shall not exceed t e set forth above. L rate or gra uased payment loan,the payments and 79 , Loan discount poin , s all a paid to tender at Closing and shall not °Yo of the total loan 79 amount. N9twit a loan's interest rate,the first loan,discount points shot a ,and the 80 balane shall be aid by 81 AiJEII Buyer egress to assume and pay an existing loan in the approximate o the 92 83 Assumption s� in this Section, presently payable at S per 84 including principal in ently at %per annum,and also including escrow for th ing as uz cat -L7��i 8s Estate 'fixes, DD property a e em nm,and 86 Buyer agrees to pay a loan tr ee not to exceed At the time o assumpt on,the"87 new interest rate shall not exceed ° um and th payment s a not exceed S 88 principal and interest. plus escrow, f ainy If t e actua sl balance of the existing loan at learns is ess t ant o 89 Assumption Balance,which causes the amount of red from Closing to be increased by more than S 90 than ❑Buysr May ate this contract effective sipt by Seller of Buyer's wrlttsn notice of 91 ierm nation or 92 93 e a of released om iabi ity on sat oan. apes ca e,CornpliancVwUh.1he requ remen 94 for from llability shall be evidenced by delivery at Closing of appropriate letter of co t fa tl•r,y 95 96 i nsuc�g Buyer agrees to execute a Promissory — ? as o nt enants ®'Tenants in Common ❑ Oher note payable to: giiiii" 98 iii cat : , on th a form a �N I 99' 0(UCCC-No Derau NTD 82-3-95 ❑(Default Rate)NTD 81-11-8�.etcof y too O Other secured by a (lat, 2nt encumberinga d 101 Property, ua ng t e orm as n o r ct Due-On-S■ a 72-7-9hy (TD 73-T_9( �a 102 D Assumable-Not Due On Sale(TD - 6)E3 Other p 103 Buyer 0 Shall❑Shall Not execute an iver,at osm ,a Agreement an - nancla huema 104 granting the holder of the Promissory note a 2nd,at on the.personai property included in this sale. TI aa>•Z 1 105 promissory note shall be amortized on the baste— Years O months,payable at S per ststasit Q• 106 including�pprincipal and interest at the rate er annum. Payments shall commence a>•�N s 107 and shall rest shall due on the day ch succee ng If not sooner paid,the balance o pr nc p Z d 109 U Shall No interest shall be due an3-pa .after Closing. Payments 109 0 Shall Not be increased by o ated annual real estate taxes, as aa�l 110 ❑Shall❑ Shall Not be inc ti III conrairi the followin t ; ;fan Y o est mat annua property incur remium. The loan shall at s!•IL 2 g y payment is not received within calendar after its due date,a Is 112 charge of such payment shall be duo. Interest on lender die ursoments under the deed of hall 11 113 , per ann ult Interest rate shall be %per annum.Buyer may re •'t1 114 5 Y prepay without a penalty axe 6 116 a . All amounts paid by Buyor at Closing incuu Ing Cash at Closing,117 costa, shall be in n s w c comply with all applicable Colorado laws, which include cash eletrolnicBtransfercl i4 �N 6 Its certified check,savings and loan teller's check and cashier's check(Good Funds). N.6 119 120 tl•s0 121 122 tjm 123 sear•we it Buyor is to pay a or part of the Purchase Price by obtaining s new to if alai•to IN 124 existing to of to a ro ess m Closing, Buyer, if required by such lender, shall make written a on b Loi r 126 Application Dee $20). Buyer shall cooperate with Seller and lender to obtain loan approve gently and tlme � M—o 126 pursue same in good ih cute all documents and furnish all information and documents r by lender,and,subJ4 tla>•n 127 to §4, timely pay the costs o ing such loan or lender consent. Buysr agrees to s o reasonable requirements a r 128 lender, and shall not withdraw the lea ssumption application,nor intentional) ss any change in circumstances whi, 139 would prejudice lender's approval of the to lication or funding of th �o-.�stmlialt'oitlolac• If Buyer ay all or the Purchase Price by obtaining a now loan as 131 specified in §4b,t t a contract s conditional upon Bu g a written loan commitment including, if required by l32 lender, (t)lender verification ofemployment,-(2)load r fBuyer's credit-worthiness.(3)lender verification that 133 Buyer has sufficient Rinds to close, and (4) s ation of any r in 134 condition shall be deemed waived unless receives from Buyer, no g requirements for funding said loan. This 135 written•notice of Buyyeer's inabili to such loan commitment yIf'Buyyeer so noon Loan Selierothmfc Commitment Deadline 1minate� 136 I7P BUYER WAitViEB•TEI115 CO ON BUTDOES NOT CLOSE,BUYERSHALttfia L B AULT. 138 �• . If Buyer Is to pay all or part of the Purchase price bye ng a promissory note in 139 favor of Seller or' oxiscing oan is not to be released at Closing,this contract Is conditionat upo ler's approval of 139 Z) Ee, r's fin ability and creditworthiness,which approval shall�s at Seller's sole and absolute disereti such case: I40 s all supply to Seller by Buyer's Credit In ormation Deadline (§§ 2c), at Buyer's expense, inform and 141ments concerning Buyer's financial,employment and credit condition;(2)13uyer consents that Seller may verify Bu CBS 3-9-99 Contract to Buy and Sell Real Estate(Vacant Land-Farm-Ranch) Page 2 of 6 Prepared By:David Mueller Co-oatas Xne-101% Q Oardenawarra Initial tv�Ft)iRt�.rro. s Date•12/os/00 S/N•Nio-s7 Prmtaf UkLA +�• yi„n„e V-1/D9.(40R)9If.!107 l6 DEC 06 '00 12:08PM O,H,K&G P.4 232 timely consult legQal counsel wi'' espoat to all such matters as there are strict tin tits provided in this contract e. , 233 Objection Deadllns( 2c)an Record Matters Obl•ctton DeadLns[§Zc]])) ( g. Title �N O 234 9. Unless exempt, if t e improvements on t�lte Property include ons or more residential N�.V 235 dwetling(s) or w tie a building permit was Issued prior to January I, 1978,this contract shall be void unless a completed } 237 to the parts Paint Disclosure(Sales)form is signed by Seller and the required real estate liconsee(s),which must occur prior any t- 237 to the parties slnin this contract. Z 238 10. On or before Seller's Property �in n 239 Seller agrees to provi •Buyer with a wr lien d solosure of a verse matters regarding the ProertylcompI ed by Sellcr to tti �9 V 240 bast of Seller's,currant actual knowledge. 241 a. Buyer shall have the right to have in spection(s)of the physical condition a 242 of the Property an nc usions,at uyer's expense. If the physical condition of the Property or Inclusions is unsatisfactory In =a a m 243 Buyer's subjective discretion.Buyer shall,on or before Inspection Objection Deadline(§2a): w 2445 (1) notify Seller in writing that this contract is terminated,or (Z) provide Seller with a written description of any unsatisfactory physical condition which Buyer slew aL 246 requires Seller to correct(Notice to Correct). m247 Ifwritten notice is not received by Seiler on or before Inspection Objection Deadline(§2c),the physical condition 248 of the Property and Inclusions shall be deemed to be satisfactory to Buyer. =O 249 6 Resolution Deadline, lfa Notice to Correct is received by Seller and if Buyer and Seller have not agreed 250 in writing to a settlement thereof on or before Resolution Deadline($2c),this contract shall terminate one calendar dsy aa*sg�Z 251 • following the Resolution Deadline,unless before such termination Salter receives Buyer's written withdrawal ofthid ay _to 252 to Correct. `'*m 253 C. Buyer is responsible for payment for all inspections,surveys, •ng{neoring m 254 reports or for any other work per armed at uyer's request and shall pay far any dams a which occurs to the Property and m 255 Inclusions as a result of such activities. Buyer shall not permit e a ins or liens of any kind against the Property for �m a 256 inspections, surveys, engineering reports and for any other work performed on the Pr m 257 to indemni S Property at Buyer's request. Buyer oar spa fy,protect and hold slier harmless from and a6ainst any liability,damage,cost or expense incurred by Selleroft in tV m 258 connection with any such inspection,claim,or lien. This indemnity includes Sellers right to recover all costs and expenses ao 259 incurred by Seller to enforce this subsection. including Seller's reasonable attorney fees. The provisions of this sub:ectlon N m 2610 11.all survive the termination of this contract. from Z 262 special as the iiIIDat Delivery§2c)or bymutual algreeer tomentsat an earlier da be at te. The and place no shall be on the f Closing shall be as N 263 designated'by 00 r+ 264 12. m~ 265 with the other terms an provisions hereJ1F1J1r:LE. Su of.,Sol lernshall exder or ecute and delivent at er Closing good as and sufFlcientuired herein and compliance uyer p 266 Buyer,at Closing,conveying the Property free and clear of all taxes except the genera,taxes for themental to to ao 267 as provided herein, title shall be conveyed free and clear of a!1 liens includingan 3' o C osing. Except 268 improvements installed as ofthe date of Buyer's signature hereon,whether assessed r notgTltl shall be cony for epeeist 269 to: eyed subject 271 270 a those specific Exceptions described by reference to recorded documents as reflected in the Title Doctnnents accepted byBuyer in accordance with §8a[Title Review), distribution utility casements. 273 C. those specifically described rights of third parties not shown by the.public records of which Buyer has 274 actual knowledge and which were accepted by Buyer in accordance with §8b[Matters Not Shown by the Public Records], 275 and 276 d inclusion ofthe Property within any special taxing district,and 277 s. the benefits and burdens of any declaration and party wall agreements, if any,and 278 It other 280 13. Any sncutrt ranco require to a pa s a e paidat or a re os ng 280 from the proceeds o s transact o or om any other source. 281 14. CLw-wNgi COST • DO jIM -NTS AND JRVIf Buyer and Seller shall pay, in Good Funds, their 28Z respective Closing costs an a of ter items requ red to epa at losing,except as otherwise provided herein. Buyer and 293 Seller shal i sign and complete all customary or reasonably 294 Closing set required documents at or before Closing. Fees for real*state vices shall be paid at Closing by ® One-Halt by Buyer and One-Half 283 O Other by Seller p Buyer D $eper 287 a localtrans tax o o t e Purchase r cc shall e pa at losing by uyor a er. Any 287 sales and use tax that may accrue ecayse oft is transaction shall be aid when due by O Buyer❑Seller. 288 15. The following shall be prorated to Closing Date,except as otherwise provided: 289 a. Personal property taxes, If any, and general real estate taxes for the year of Closing. based on 290 M The Taxes for • alandar Year Immediately Pro coding Gloating❑The Most Recent Mill Levy and Most Recent 291 Assessment L3 Other 292 Rent&basedon itsnta Actually ea•ive ecru• ecuri a oasts e d 293 credited to Buyer.. Shier shall assign all (cases to Buyer and Buyer shall 294 N assume such(cases. P y e �'$ a ° 295 seer. sower charge_s,_a_n_d interest on continwng oan(s , i any;and 296297 N 298 16. ins Unless of erw so agreed in-writing, ese prorations s a final. 299 osaession of the Property shall be delivered to Buyer on Possession Date and Possession Time 2" ($ 2c). sub act to the -lowing leases) or tcnaney(s): Mono 300 301 302 addltlonally liable to Bu •r for 303 wssssion ate(§2c)until possession is 304 17• This contract shall not be assignableSeller's 305 as so restricted. t s contract all inure to the benefit of and be bindin uu on he heir ersonallrr re tten consent. 8xcapt 306 and assigns of the arties. g P P representatives, successors •307 18. cots 308 contract,t e roperty,Inclusions or bo s a c delivePROred in t •con ton ex st ng as ofth date ofth s coas ntract,ord in inary nary309 wear and tear excepted. 310 a. �i11>f In the event the Property or Inclusions shall be damaged 311 prior to Closing,in an amount o not more than ton percent of thetotal Purchase Price Sell cr shall be ofire or other bli ated to r casualty 312 same before the Closing Date(§2c). In the event uch damage is not repaired within said time or if the damages exceed 313 such sum, this contract may bs terminated at the option of Buyer by delivering to Seller written notice of termination. 314 Should Buyer elect to carry out this contract despite such damage,Buyer shall be entitled to a credit,at Closing,for all the 315 insurance proceeds resulting from such damage to the Property and Inclusions payable to Seller but not the owners' 316 association. ifan), plus the amount of any deduct{ale provided for{n such insurance policy, such credit not to exceed the 3l7 total Purchiiso Prise. 318 4 Should anyIncluaion(s)or servic s including sy�toms and components 319 ofthe Property,e.g. eat ng,plumbing,etc.) or be damaged between the data oft contract and Closing or possession, 321 whichever shall be earlier,then Seller shalt be Iiable for the repair or replacemprtt of such Inolusion(e)or service(s)with a 321 unit ofaimilar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or replacement of 322 such Inalusion(s), service(s) or fixture(s) is not the responsibility of the owners' association, if any, less any insurance 323 proceeds received b Bu er covering such repair or replacement. The risk of loss for an dame a m rowin arc s b fire CBS 3-9-99 Contract to Buyand Sell Real Estate(Wcant Land-Farm-Ranch) John KellyPsge 4 of 6 Prepared By: _ Co. . Initial PssaaMR/< Mvo " on r LD,(�//IU 9J7-)l07 DEC OG '00 12:09PM O,H,K&G P.S 324 or other casualty,shall be bor y the party entitled to the growingcrops,if at 323 entitled to such insurance pr Is or benefits for the growing cros, Pf ny, Provided in §3 and such party shall be 326 C. 327 through the property peter to ou to uses at t eonli 90 Buyer,upon reasonable notice,shall have the right to walk 328 contract. p ysical condition ofthe Property and Inclusions complies with this 329 19. 330 acknowledge that a Se ng Company or the ist ng ompany has advBiseditgni thesis document, has Buyer andtSegar 331 consequences and has recommended the examination of title and consultation with legal and tax or other counsel before 332 signing this contract. 333 20. 334 Money hereun or or any of er payment duc .rounderslne is s not paid,honored or tenderedn hen duc,ornote or es an other obligation 335 hereunder is not performed or waived as herein provided,there shall be the following remedies; 336 sJERLYAtis An Do a 337 E3Payments f5 •'�mance, Seller may elect to treat this contract as canceled, in which case all 339 s338 damages as may be proper,oriSellor may elect to tn or reat hiaeited and contracx as being ntained n behalf ofSel ful force and eeffect and Seller shal have 340. the right to specific performance of damages,or both. 34�1• ® saes. Allpayments 342 Buyer and retained on behalfofSetier and partiesh am hbe relw di from all obl received igations hereunder.It fae1agdby 343 that such payments and things of value are LIQUIDATED DAMAGES and (except as provided in subsection c) are 344 SELLER'S SOLE AND ONLY REMEDY for Buyer's failure to perform the obligations ofthis contract. Seller expressly 345 waives the remedies of specific erformance and additional damages. 346 h • Buyer may elect to treat this contract as canceled, in which case all payments and 347 things of value received here un er s all be returned and Buyer may recover such damages as may be roper,or Buyer may 348 elect to treat this contract as being in Rill force and effect and Buyer shall have the right to specific performance or damages 349 or both. 35 c, 351 in the event ofany arbitration or litigation relating to this contract,the arbitrator or , court shall award to tine prevailing party all reasonable costs and expenses,Including attorney fees. 352 21. If a dispute arises relating to this contract,prior to or after Closing,and is not resolved,the parties 353 anal!first procee in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an 354 impartial person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. 355 Tho parties to the dispute must agree before any settlement Is binding. The parties will jointlyappoint 356 mediator'and will share equally in the cost ofauch mediation. The mediation,unless otherwis agred, all terms a terminate the 337 'event the entire dispute is not resolved 30 calendar days from the date written notice requesting mediation is sent by one 358 party to the other(s).This Section shall not alter any date in this contract,unless otherwise agreed. 359 22. EARNEST MONEY DIS UT& Notwithstanding anytermination ofthis contract,Buyer and Seller agree that,in 360 the event ofany controversy regarding the Earnest Money and thing 361 mutual written instructions are received by the holder of the Earnest s of value held by broker or Closing Compannless M yy(u oney and things of value), broker or Cloning v any 362 shall not be requited to take any action but may await any proccoding,or at broker's or Closing Company's option andpsole 363 discretion, may interplead all parties and deposit any moneys or things of value into a court of competent jurisdiction and 364 shall recover court costs and reasonable attorney fees. 365 on In the event this contract is terminated, all payments and things ofvaluc received hereunder 366 shall be returns an a partles shall be relieved ofall obligations hereunder,subject to if 10c,21 and 22. 367 24. ADDITIONAL:PROVISIONS. (The language of these additional provisions pas not been approved by the 368 Colorado Real Estate Commiaion.) 369 P�r .370 r t r 371 372 373 contract betwo.n We pantos rotating to the su Oct ergo , an any rR �`��� 1 nla eonttract constitutes a entire 374 written,have been merged and integrated into this contract.No subsequent nt rior modificatioreements n of anytng ofthe term whether s ofthis contract 375 shall bevalid,binding upon Lho parties,or enforceable unless made in writing and sighed by the parties. Any obligation c 376 this cont�set which, b its terms, is intended to be performed after termination or Closing shall survive the same. in 377 26. VA Signatures ®May ❑ May Not be evidenced 378 shall bb prov tot a other party at Closing,or earlier upon request by artpmile, Documents with original signatures 379 27• Except for the notice requesting mediation described in §any to Buyer shall be ef)ieetive when 3.190 received yyBBuuyeerr'�or by Selling Company and any notice to Seiler shall § effective when received shall Seller ti Listing 381 Company. 382 28. T&CE QF A . This proposal shall expire unless accepted in writing, by 383 Btiyer an oiler, as evidenced by their signatures slow, an tho offering party receives notice of acceptance pursuant to 384 § 27 on or before Acceptance Deadline Dote and Acceptance Deadline Time(§2c)• If accepted, this document shall 396 become a contract between Seller and Buyer. A copy of this documnt may be executed by each party,separately,and when 386 each party has executed a copy thereof, such copies taken together shall be doomed to be a full and complete wntra- 387 between the parties. 398 . 389 390 Buyer abard of co.Comm. of the Coot Pickin )Sayer 391 J 392 Date of Buyer's Signature: i•us? 393 Buyer's Address Date of Buyer's Signature: 394 Buyer's Telephone No: i n t Sul= 395 Buyer's Fax No: =a 396 [NOTE., If this offer Is being countered or rejected,do not sign this document. Rater to§Z9] G 397 398 C3 y 399 Seller MICKIE FLAIgZoata Q F 400 Seller z a 401 Date of Seller's Signature: Date of Seller's Signature; =C m 403 e.Seller's Address: 404 Seligr's Telephone No: 970-920-170 v ch a _ Z 405 Seller's Fax No: 970-9. 406 29. COUNTER,I LF rrr&•rrM. This offer is O Countered iO Rejected. r+m 407 Initials only ofparty(Buyer or Seller)who countered or rejected offer m m 409 409 END OF CONTRACT m O 410 riZZ N m CBS 3-9-99 Contract to Buyand Sell Real listate(Vacant Land-Farm.Ranch) CBS Jahn Kelly y Page 5 of 6 NCo,DAAA Initial --a- Z^Ostaviah L -'- A fVlr�a N Ae'�•.�,.....S""�Vxwwllon••• eD W4 �,/iwrre, .+S/99, fioe�r�raiur i., et� DEC 06 '00 12: 10PM O,H,K&G P 411 .6 412 413 4I4 speewisd in §4 an ,while not a party the contract,agrees to cooperate upon request wit any mediation oonduct der 415 §21. 416 e 417 transaction as uyer Aaeat a or A out agent D Dnal SellingThe Arent COMpp Tt snsaction-Brokernd Its licemnsoits av been aged in this 418 a The Listing ompany and its licensees hav can an in this 419 transaction as • • -—it MalAgent ransaction-Broker. 420 421 ft"Qjw CC) Erg. TT 422 e nURN ompany s cotnpensat►on o mission is to be paid by: p Suya r S•Iler O Listing Company 423 D Otier 424 (To comerL stng ompany) ng ornpsny s compeOhe rnm 425 O• Seller6t 426 ss o c pat y: L.1 Buyer 427 428 Selling Company: 429 (Name of Company) 430 By: 431 Signature ate 432. Selling Company's Address: 433 . Selling Company's Telephone 434 Listing Company; Selling Company's F p: 43$ (Name Company) 436 By: 437 Signature Date 438 List Company's Address: 439 Ming Company's Telephonc No: 440 Listing Company's Fax No: I II'lll I'lll I'llll I'llll'l l l 450078 12/28/2000 01:30!"III'I"I III"I'll I'I l"I 10 of 12 R "a D 0.08 N OR00Np=TKIN COUNTY CO CBS 3-9-99 Contract to Buy and Sell Real Estate(ytcant l-and-Farm-Ranch) Prepared By: John N;e11 page 6 of 6 CO. JsnrzxyatLj initial 1'r&r J- AUA--e , ( 1 sw7-7�o7 Date: 10d"10ii o c�o o $/N•Nl � SORwarar.v. Ti9D, t DEC 06 '00 12: 10PM O,H,K&G P.7 ADDED-4DUM TO VACANT LAND/FARM AND RANCH CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY,COLORADO AS BUYER AND NIICKICE FLANIGAN AS SELLER 1• IMPROVEMP_rrr SUR3ZEy On or before the Off Record Matters Deadline, Seller shall deliver to Buyer,at Seller's expense,a current Improvement Survey the Proby a Iicensed Colorado surveyor for the express beneled fit of seller, Buyer Buyer and ticc u Title Company, depicting all property corners, improvements, easements and rights-of-way, driveways, parking areas, walls, fences, encroachments on or off the Property, utility lines and utility installations,and restrictions of record. The Improvement Survey shall be in form and content sufficient to cause the title company to issue an endorsement to its title commitment agreeing to delete from Schedule B (Section 2) of its to-be-issued title policy standard printed exception Nos. 1,2,and 3 at no cost to Buyer.In the event the Improvement Survey discloses matters which in Buyer's opinion constitute defects in the merchantability of Seller's title,Buyer must give Seller written notice of such unsatisfactory title condition(s) no later than the Title Objection Deadline. If Buyer in fact gives such notice to Seller in a timely mariner, the provisions of Paragraph S(d) of the Contract shall apply thereto. If no such notice is timely given,Buyer shall be deemed shown on the Improvement Survey, to have waived any objections to matters 2' CON Buyer and Seller acknowledge that the current fair market value of the Property being conveyed to Buyer under this Contract exceeds Buyer's purchase price and therefore Seller wished to effectuate the transaction contemplated by this Contract as a bargain sale, so-called (part sale, part charitable contribution) as defined at Internal Revenue Code section 1011(b), as amended, and the regulations thereunder.In this regard,after closing at Seller's request and at no cost to Buyer, Buyer agrees to take all actions reasonably requested by Seller to acknowledge the charitable contribution,including acknowledgment of the donation on Seller's federal Form 8283 and issuance to Seller of a gift acknowledgment letter. 3• l9UYEA'C CONTINca�.rry Buyer's obligation.to close under this upon the contribution ofS625,000.00,One-half the agreement is contingent City of Aspen, after approval of the City's ballot issue relating o aeProperty. ity Op. in the Space, Recreation and Trails tax. Buyer shall provide Seller written notice of satisfaction of this contingency upon receipt of a binding and enforceable commitment from the City of Aspen to contribute that amount.Buyer and Seller agree that this Agreement may be assigned to the City of Aspen, in part, to allow the City to acquire a joint or other interest in the Property with the County as consideration for the City contribution. Buyer, in its option,-may waive this contingency in whole or in part by delivery of written notice to Buyer. 4. Excretion t9 Ti 1 Ins�on or Prnv;�;�,, Buyer acknowledges that there is pending litigation affecting portions of the property as evidenced by Lis Pendens recorded July 26, 2000, as Reception No. 445493. Federal Civil Action No. 00-M-1296. Seller waives any objection to title,inspection or other matters covered by or arising out of such litigation,and an exception regarding the Lis Pendens.shall be a permitted exception on the Special Warranty Deed to be delivered hereunder. S• MutHal Contin cc Closing under this Agreement is con 'resolution of adverse claims to ownershipof the pro tangent upon satisfactory asserted by George M. "Wilk" Wilkinson and/or entities owned or t controlled by hirs and other e ("Wilkinson"), as set forth in letters from Wilkinson to John Kelly, Seller's attorney, dated October 19, 2000, and November 14, 2000, Seller agrees to h use her best efforts to obtain a title commitment to insure title against such claims;provided that Seller shall not be required to file any litigation or other legal action,or pay any funds to settle such claims. The parties agree that these claims are unsatisfactory title conditions,and that a commitment from a title company to insure the Buyer's title without any exception for the claims asserted by Wilkinson will be a satisfactory resolution of these adverse claims- Satisfactory resolution of this contingency must occur by the Resolution Deadline set forth in paragraph l Ob,unless waived in writing by both Buyer and Seller. .' \V4'aattiaskV)ataV17�� I II'III 'IIII 'IIII' IIIIII IIII I'I (II'II'I III "II'I I'I I"I 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI 11 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO DEC 06 '00 12:10PM O,H,K&G P.8 3711®3 1 3 P-•512. 06/17/94 10:35A PS 2 2 EXHIBIT "A" The Propdtty T. 109., R.84W., 6th -P. . a) The Alma M. Ledo Mining Claim, Mineral Survey Lot No. 3944 eompriaing 5.42•acres, more or less; and b) The Balleeae Lode Mining Claims Mineral Survey Lac No. 4438, excepting the southern portion thereof, comprising 3.809 acres, more particularly described in an instrument recorded in the Pitkin County Records, Book 97, at Page 70, resulting in a remaining portion of the Ballarat lode Mining Claim comprising 4.903 acres, more or lees; and c) The General Jackson Lode Mining Claim, ffinsral Survey Lot No. 3941. excepting the southern portions, comprising 3.828 acres, more or less. more particularly described in an instrument recorded in the Pitkin County Records, in Doak 97, at Page 77 and 78; and 2.331 acres. more or less, more particularly described in the Pitkin County Records in Book 97 at Page 61, resultinC in a remaining portion of she General Jackson Lode Mining Claim comprising 4.036 acres. more or lass; and d) The Fossil ludo Mining Claim. Mineral Survey Lot No. 6910 comprising 6.891 acres, more or lessi and e) The Fossil Fraction Lode Mining Claim, Mineral Survey Lot No. 6910 comprising 0.763 acres; more or leas; and f) The Glendale Lode Mining Claim, Mineral Survey Lot. No. 6859 comprising 2.21 acres, more or'lees;• and g) The Arkaneae bode Mining Claim, Mineral Survey Lac No. 8394 comprising, 2.603 acres, more or lose; and h) The Chatfield Lode Mining Claim, Mineral Survey Lot No. 1462' comprising 5.106 acres, more or less; and 1) The Pert of Chatfield Lode tithing Claim, Mineral Surrey Lot No. 1462 comprising 4.75 scree; • of Togethec with all essomenta, exiycing rights-or-way,/'and water righce appurtenaue j; thereto. as such will be conveyed to G.M. Wilkinson, dba ecito Films. Zxce ting, and�ioaary fngyilivmineral/2rfghts batow 500 fact from the surface; and rsserving to First Party the right to use existing rights-of-wrty, old mining trsiia and water rights for the benefit of ell the Cl4ims eomprising?the•entire Anoggler propeety which to the subJect of the Agreement bntween rjaelicy:6 Flan 4a1 ' dAted September 9. 1907. LJwWsGG..i y'sa/yst� , ' •isj all mineral righto tram the surface to 500 feet below the surface and -an undivided one-half (1/2) of all mineral rights below 500 feet from the • I I"II( "I(I "IIII I'II'I 'III "' III'I"I III I'II'I III I"I 450078 12/28/2000 01:50P ORDINANC DAVIS SILVI 12 of 12 R 0.00 D 0.00 N 0.00 PITKIN COUNTY CO