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coa.lu.ec.Chapman Condominiumization
PITKIN COUNTY TITLE, INC. 601 E. HOPKINS, 3RD FLOOR ASPEN, COLORADO 81611 970 - 925 -1766: 970 - 925 -6527 FAX February 28, 2011 John Worcester CITY OF ASPEN Hand Delivered Re:UNIT 2, CHAPMAN CONDOS Dear John, Enclosed are copies of all closing documents for the above transaction. The proceeds were wired per our instructions. Please let me know if you have any questions. We look forward to being of continued service. Cordially, I Th Higens Escrow Officer enc. • RECEPTION #: 577944, 02/28/2011 at 02:17:08 PM, 1 OF 3, R $21.00 DF $25.00 Doc Code WD Documentary Fee $ 25.00 Janice K. Vos Caudill, Pitkin County, CO WAF(YCHIN 1 Y UttU THIS DEED, made this 28th day of February, 2011, Between CITY OF ASPEN,A MUNICIPAL CORPORATION of the County of PITKIN, State of CO, GRANTOR, AND STERLING WILLIAM SEAMANS JR. and EILEEN MARIE SEELEY, GRANTEE whose legal address is : 717 CEMETERY LANE, ASPEN, CO, 81611 of the County of PITKIN, State of CO WITNESSETH, That for and in consideration of the sum of ten dollars and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the grantor has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey and confirm unto the grantee, their heirs and assigns forever, all the real property together with improvements, if any, situate and lying and being in the County of PITKIN, State of COLORADO, described as follows: UNIT 2, CHAPMAN CONDOMINIUIMS, according to the Amended Condominium Map of Chapman • Condominuims recorded March 13, 1984 in Plat Book 15 at Page 91 and as defined and described in the Condominium Declaration for Chapman Condominiums recorded August 26, 1980 in Book 393 at Page 663 and Correction thereto recorded March 15, 1984 in Book 463 at Page 152. TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the grantor either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the grantee, their heirs and assigns forever. And the Grantor, for its self, its heirs and assigns, does covenant, grant, bargain, and agree to and with the Grantee, their heirs and assigns, that at the time of the ensealing and delivery of these presents, its is well seized of the premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature soever, except those matters as set forth on Exhibit "A" attached hereto and incorporated herein by reference. The grantor shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the grantee, their heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singular number shall include the plural, the plural the singular, and the use of gender shall be applicable to all genders. IN WITNESS WHEREOF the grantor has executed this deed. SIGNATURES ON PAGE 2 • 0 al a : 'i'O 4 . 1 EXE OF ASPEN / ; . 7 ROM HRE ry 11 (A11 2124 �rE REP NO, a 6617 SIGNATURE PAGE TO WARRANTY DEED PAGE 2 CITY OF ASPEN A MUNICIPAL CORPORATION BY: TIT �"-- ' r NEY STATE OF COLORADO ) ss COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this pi. -day of FEBRUARY, 2011, by JOHN WORCESTER, CITY ATTORNEY FOR THE CITY OF ASPEN A MUNICIPAL CORPORATION. WITNESS my hand and official seal \ 1111 my commission expires: N.`ry Public e �g yov • � R te ' !; PCT23091W -. v` • EXHIBIT "A" 1. Taxes for the year 2011 not yet due or payable. 2. Right of the proprietor of a vein or lode to extract or remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted as reserved in United States Patent of record. 3. Terms, conditions, provisions and obligations as set forth in Statement of Exemption from the Definition of Subdivision recorded August 26, 1980 in Book 393 at Page 659. 4. Terms, conditions, provisions and obligations as set forth in Covenants recorded August 26, 1980 in Book 393 at Page 661. 5. Terms, conditions, provisions, obligations, easements, restrictions and assessments as set forth in the Condominium Declaration for Chapman Condominiums recorded August 26, 1980 in Book 393 at Page 663 and Correction thereto recorded March 15, 1984 in Book 463 at Page 152, deleting therefrom any restrictions indicating preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin. 6. Easements, rights of way and all matters as disclosed on Plats of subject property recorded May 16, 1980 in Plat Book 9 at Page 69 andrecorded March 13, 1984 in Plat Book 15 at Page 91. 7. Terms, conditions, provisions and obligations as set forth in Declaration of Restrictive Covenants recorded September 10, 1985 in Book 494 at Page 722. 8. Easement and right of way for an electric transmission or distribution line or system, as granted to Holy Cross Electric Association, Inc., in instrument recorded August 11, 1993 in Book 720 at Page 803. 9. Terms, conditions, provisions and obligations as set forth in City of Aspen Occupancy and Resale Deed Restriction Agreement and Covenant recorded =�(9;- _ 2011 as Reception No. 3771'1 CITY OF ASPEN OCCUPANCY AND RESALE DEED RESTRICTION, AGREEMENT AND COVENANT THIS OCCUPANCY AND RESALE DEED RESTRICTION, AGREEMENT, AND COVENANT (the "Agreement ") is made and imposed this /O day of February, 2011, by Sterling William Seamans, Jr., and Eileen Marie Seeley whose address is 717 Cemetery Lane, Aspen, Colorado ( "Owner "), for the benefit of and enforceable by the CITY OF ASPEN, a Colorado home rule city, for and in consideration of the conveyance of the subject property to Owner. W ITN ESSTH: WHEREAS, Owner has purchased and owns as a result of that certain warranty deed executed on the date hereof, a dwelling ( "Dwelling") located on the real property more specifically described in Exhibit A attached hereto and incorporated herein. For purposes of this Agreement, the dwelling, the real property and all appurtenances, 0 improvements and fixtures associated therewith shall hereinafter be referred to as the �() "Property "; and 1, WHEREAS, Owner agrees to restrict the acquisition of the Property to the City of v Aspen or its designees. In addition, the Owner agrees that this Agreement shall �L constitute a resale agreement setting forth the maximum sale price for which the Property may be sold ( "Maximum Sale Price "), the amount of appreciation and the terms and provisions controlling the resale of the Property should Owner desire to sell the Property at any time after the date of this Agreement. NOW, THEREFORE, for value received as described above, the receipt and sufficiency of which is hereby acknowledged, .Owner hereby represents, covenants and agrees as:fdkaws: 1. At least one of the parties constituting Owner is a full -time employee of the City of Aspen and in connection with the purchase of this Property; Owner agrees to sell the Property only in accordance with this Agreement. 2. It shall be a breach of this Agreement for Owner to default in payments or other obligations due under a promissory note secured by a first deed of trust. Owner hereby agrees to notify City of Aspen, in writing, of any notification it receives from a lender, or its assigns, of past due payments or default in payment or other obligations due under a promissory note secured by a first deed of trust within five calendar days of Owner's RECEPTION #: 577943, 02/28/2011 at 02:11:09 PM, G:\john \word \employee housing\SEAMANS \Seamans.deed restri4igp.docx 1 OF 10, R $56.00 DF $0.00 Doc Code DEED RESTRICT Janice K. Vos Caudill, Pitkin County, CO notification from lender, or its assigns, of said default or past due payments. Upon notification from Owner, City of Aspen may offer loan counseling and distressed loan services to Owner, if any of these services are available, and may require Owner to sell the Property to avoid the Commencement of any foreclosure proceeding against the Property. In the event that City of Aspen determines that sale of the Property is necessary, Owner shall immediately execute and deliver a standard general warranty deed conveying the Property to City of Aspen, or its designee, in exchange for the payment to, or for the benefit of, Owner a purchase price computed under the formula set forth in this agreement. 3. This agreement shall constitute covenants running with the real property described in Exhibit A, as a burden thereon for the benefit of, and shall be specifically enforceable by, the Owner and City of Aspen, and their respective successors and assigns, as applicable, by any appropriate legal action including but not limited to injunction, reversion, or eviction of non - complying owners and /or occupants. 4. In the event that the Owner desires to sell the Property or is required to do so pursuant to the terms hereof, Owner shall so advise City of Aspen in writing and City of Aspen, or its designee, shall purchase the Property from Owner not more than ninety (90) days from the date of receipt of such notice, at the purchase price established by this Agreement. The purchase price paid at closing may, at the City's sole discretion, be reduced by $5,000.00 as a deposit to ensure the cost of repairs and replacement as set forth below. RESALE PRICE 5. In the event that the Property is sold to City of Aspen or its designee pursuant to this Agreement, the Property shall be sold for an amount equal to the lesser of: a. The Owner's purchase price of $250,000.00, plus an increase of three percent (3 %) of the purchase price per year from the date of purchase (prorated at the rate of .25% percent for each whole month for any part of a year); or b. An amount (based upon the Consumer Price Index, CPI -W, Urban Wage Eamers and Clerical Workers, U.S. City Average, All Items (1982 -84 =100), published by the U.S. Department of Labor, Bureau of Labor Statistics) calculated as follows: the Owner's G:\john \word\employee housing \SEAMANS\Seamans.deed restriQigp.docx purchase price multiplied by the Consumer Price Index last published prior to the date of Owner's notice of desire to sell divided by the Consumer Price Index current at the date of this Agreement, (the parties agree that the Consumer Price Index for December 1996 is 464.3), Plus the cost of Capital Improvements not exceeding ten percent (10%) of Owner's original purchase price as set forth below: Capital Improvements means capital improvements made and paid for by Owner pursuant to the requirements of any governmental body, agency or Homeowner's Association, or approved in writing by the City of Aspen through its City Manager or designee. Capital Improvements shall be validated by production of original receipts for costs (actual cost) with no allocation for Owner's "sweat equity"; no Capital Improvements shall be added to calculation without proof of receipts affidavit as to validity of receipts, and Certificate of Occupancy from the Aspen /Pitkin County Building Department, Less the cost of any repairs or replacements necessary to restore the Property to a reasonably adequate level of repair and habitability. For purposes of this section, repairs and replacement required by ordinary wear and tear shall not be deducted from the sales price otherwise computed hereunder. In the City's sole discretion, $5,000.00 may be withheld at the time of resale pending a determination of all repair and replacement costs. This amount shall not be withheld for a period exceeding 30 days. Upon determining the amount of repair and replacement costs, the City shall pay to the Owner the difference between the amount withheld and the actual costs for repairs and replacement. Less an amount equal to 1.33% of the Owner's original purchase price of the Property multiplied by the number of years, or fractions thereof, from the Owner's date of purchase of the Property to the date of sale hereunder in order to fund Capital Replacements made in accordance with the City's Asset Management Plan. 6. All disputes between Owner and administrative staff of City of Aspen shall be decided by the City Manager of the City of Aspen, and any decision of the City Manager may be appeal ed to the Aspen City Council within ten (10) days of any decision by the City Manager. G:\ john \word \employee housing \SEAMANS\Seamans.deed res(ii.3igp.docx 7. Owner shall be responsible for the payment of the Owner's customary closing costs and prorations. 8. In the event that the Aspen City employee shall predecease his or her spouse, Owner's surviving joint tenant shall, within one hundred eighty (180) days, unless a longer period of time is permitted as set forth below, execute and deliver a general warranty deed conveying the Property to City of Aspen or its designee, in exchange for the payment to or for the benefit of the grantor of the purchase price computed under the formula set forth in this Agreement. The time period for executing and delivering a warranty deed shall be extended by the Aspen City Council for a reasonable period of time upon a showing of hardship or until such time as the surviving joint tenant is able to qualify for and procure substantially similar housing accommodations from the Aspen /Pitkin County Housing Authority. CITY OF ASPEN EMPLOYMENT AND REAL PROPERTY OWNERSHIP RESTRICTION 9. Owner agrees that, in the event Owner ceases to be a full -time employee of the City of Aspen, Owner will within not more than one hundred eighty (180) days execute a general warranty deed conveying the Property to City of Aspen, or its designee, in exchange for the payment to, or for the benefit of, the Owner of a purchase price computed under the formula set forth in this Agreement. 10. The purchaser /owner must not own developed residential real estate, including a mobile home, that has an address within the Roaring Fork Drainage situated in eagle, Pitkin, Garfield or Gunnison Counties, or within the Colorado River Drainage from and including the unincorporated No Name area to and including Rifle, and including, but not limited to, the towns of Aspen, Basalt, Carbondale, El Jebel, Glenwood Springs, Marble, Meredith, New Castle, No Name, Redstone, Rifle, Snowmass, Snowmass Village, Woody Creek. If property is owned, the purchaser /owner must list for sale, at competitive market prices, the residential real estate or mobile home prior to or simultaneously with closing on the affordable housing unit. The purchaser must provide the City Manager's Office with a copy of the appraisal of the property. Upon the sale, a copy of the closing documents indicating the sale price must be provided to the City Manager's Office. If the property is not sold by the time of closing on the affordable- housing unit, it must remain listed until sold. The owner has 180 days to sell the free - market unit. After GAjohn \word \employee housing\SEAMANS\Seamans.deed restrigigp.docx such time, the owner must list and sell the deed - restricted unit according to their deed - restriction. BREACH 11. In the event that City of Aspen has reasonable cause to believe the Owner is violating the provisions of this Agreement, City of Aspen by its authorized representative, may inspect the Property between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, after providing the Owner with no less than 24 hours' prior written or oral notice. 12. City of Aspen, in the event a violation is discovered, shall send a notice of violation to the Owner detailing the nature of the violation and allowing the Owner fifteen (15) days to cure. Said notice shall state that the Owner may request a hearing within fifteen (15) days to determine the merits of the allegations. REMEDIES 13. There is hereby reserved to the parties hereto any and all remedies provided by law for breach of this Agreement or any of its terms. In the event the parties resort to litigation with respect to any or all provisions of this Agreement, the prevailing party shall be entitled to recover damages and costs, including reasonable attorney's fees. 14. In the event the Property is sold and /or conveyed without compliance herewith, such sale and /or conveyance shall be wholly null and void and shall convey no title whatsoever upon the purported buyer. Each and every conveyance of the Property, for all purposes, shall be deemed to include and incorporate by this reference, the covenants herein contained, even without reference herein to this Agreement. 15. In the event that the Owner fails to cure any breach, City of Aspen may resort to any and all available legal action, including, but not limited to, specific performance of this Agreement or a mandatory injunction requiring sale of the Property by Owner. The costs of such sale shall be taxed against the proceeds of the sale with the balance being paid to the Owner. 16. In the event of a breach of any of the terms or conditions contained herein by Owner, his heirs, successors or assigns, the original purchase price of the Property as set forth in section 6(a) of this Agreement shall, upon the date of such breach, automatically cease to increase as set out G:\john \word \employee housing\SEAMANS\Seamans.deed restieSion.doa in paragraph 6 of this Agreement, and shall remain fixed until the date of cure of said breach. GENERAL PROVISIONS 17. Notices. Any notice, consent or approval which is required to be given hereunder shall be given by mailing the same, certified mail, return receipt requested, properly addressed and with postage fully prepaid, to any address of the party as long as prior written notice of the change of address has been given to the other parties to this Agreement. Said notices, consents and approvals shall be sent to the parties hereto at the following addresses unless otherwise notified in writing: To Owner: At the address first indicated above. To Aspen: City Manager 130 South Galena Street Aspen, Colorado 81611 18. Exhibits. All exhibits attached hereto, if any, are incorporated herein and by this reference made a part hereof. 19. Severability. Whenever possible, each provision of this Agreement and any other related document shall be interpreted in such manner as to be valid under applicable law; but, if any provision of any of the foregoing shall be invalid or prohibited under said applicable law, such provisions shall be ineffective to the extent of such invalidity or prohibition without invalidating the remaining provisions of such document. 20. Choice of Law. This Agreement and each and every related document is to be governed and construed in accordance with the laws of the State of Colorado. 21. Successors. Except as otherwise provided herein, the provisions and covenants contained herein shall inure to and be binding upon the heirs, successors and assigns of the parties. 22. Section Headings. Any paragraph or section heading within this Agreement is inserted solely for convenience of reference, and is not intended to, and shall not, govern, limit or aid in the construction of any terms or provisions contained herein. 23. Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this Agreement shall be valid against any party hereto except G:\john \word \employee housing \SEAMANS \Seamans.deed restri fipn.docx on the basis of a written instrument executed by the parties to this Agreement. However, the party for whose benefit a condition is inserted herein shall have the unilateral right to waive such condition. 24. Gender and Number. Whenever the context so requires herein, the neuter gender shall include any or all genders and vice versa and the use of the singular shall include the plural and vice versa. 25. Personal Liability. Owner agrees that he shall be personally liable for any of the transactions contemplated herein. 26. Further Actions. The parties to this Agreement agree to execute such further documents and take such further actions as may be reasonably required to carry out the provisions and intent of this Agreement or any agreement or document relating hereto or entered into in connection herewith. 27. Modifications. The parties to this Agreement agree that any modifications of this Agreement shall be effective only when made by writings signed by both parties and recorded with the Clerk and Recorder of Pitkin County, Colorado. IN WITNESS WHEREOF, the parties hereto have executed this instrument on the day and year above first written. OWNERS: G:\john \word\employee housing \SEAMANS\Seamans.deed restri pp.docx STATE OF COLORADO ) ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this to day of February, 2011, by Sterling William Seamans, Jr., and Eileen Marie Seeley. WITNESS MY HAND AND OFFICIAL SEAL. My commission expires: C LIS)' 1 - TOP "" N% 2 Notary Public PUBLIC j 0 %//101111110\ \ I Address G:\john \word \employee housing\SEAMANS\Seamans.deed restfiectp.docx ACCEPTANCE BY THE CITY OF ASPEN The foregoing grant and its terms are accepted by the City of Aspen. CITY OF ASPEN, COLORADO By: i�l�legejerl `riP Michael C. Ireland, Mayor ATTEST: Kathryn 5. K , City Clerk STATE OF COLORADO ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this /O day of " "2011, by Michael C. Ireland as Mayor and Kathryn S. Koch as City Clerk of the City "Aspen, Colorado. WITNESS MY HAND AND OFFICIAL SEAL My commission expires: (i 411 rip 1.. NESS,N A *i I i c m, \ LN- • • 1 � t!i UPit i • • i Notary Public t i I l l ( P. • . A C) 0 1 11:%40.30. . QOM It \F�F Ot - Oe- =r //spa 0I0 ✓t C (U MY Commission EviresoW25/2013 Address G:\john \word\employee housing \SEAMANS\Seamans.deed restri9ipn.docx EXHIBIT "A" LEGAL DESCRIPTION UNIT 2, CHAPMAN CONDOMINIUMS, according to the Amended Condominium Map of Chapman Condominiums recorded March 13, 1984 in Plat Book 15 at Pages 91 and as defined and described in the Condominium Declaration for CHAPMAN CONDOMINIUMS recorded August 26, 1980 in Book 393, Pages 663 through 673 and Plat Book 10 at Pages 33 through 35, and Correction thereto recorded March 15, 1984 in Book 463 at Page 152, being situate on Lot 2, Aspen Employee Housing No. 1 Subdivision, City of Aspen, Pitkin County, Colorado Also known as: 717 Cemetery Lane, Aspen, Colorado 81611 P G:\john \word \employee housing \SEAMANS \Seamans.deed restrlpa.docx DR 1083 (09/96) COLORADO DEPARTMENT OF REVENUE 1375 SHERMANDENVER, COLORADO 80261 INFORMATION WITH RESPECT TO A CONVEYANCEOF A COLORADO REAL PROPERTY INTEREST 1. Name(s) and address of transferor(s): *CITY OF ASPEN A MUNICIPAL CORPORATION 130 S. GALENA ASPEN, CO 81611 2. Transferor is (check one) [ ] individual [ ] estate [ ] trust [ ] partnership [ ] corporation [ X ] other specify: MUNICIPAL CORPORATION 3. Social Security Number(s) or Colorado account number of Transferor *: 4. Federal employer identification number of transferor:* 84- 6000563 5. Type of property sold: CONDOMINIUM 6. Address or legal description of property sold:See Attached Exhibit "A" 7. Date of Closing: *FEBRUARY 28, 2011 8. Selling price of property $250,000.00 9. Selling price of this transferor's interest $250,000.00 10. If Colorado tax was withheld, check this box [ ] 11. Amount of Tax Withheld $ -0- 12. If withholding is not made, give reason (check one): a. Affirmation of Colorado residency [ b. Affirmation of permanent place of business [ X ] c. Affirmation of principal residence [ d. Affirmation of partnership signed [ e. Affirmation of no tax reasonably estimated to be due or no gain on sale [ ] f. No net proceeds [ ] 13. Name, address and telephone number of the title insurance company or other person providing closing and settlement services with respect to this transfer: PITKIN COUNTY TITLE, INC. 601 E. HOPKINS ASPEN, COLORADO 81611 (970)925 -1766 File this form together with form 1079, if applicable within 30 days of the closing date with the: COLORADO DEPARTMENT OF REVENUE 1375 SHERMAN ST. • DENVER, COLORADO 80261 EXHIBIT "A" LEGAL DESCRIPTION UNIT 2, CHAPMAN CONDOMINIUIMS, according to the Amended Condominium Map of Chapman Condominuims recorded March 13, 1984 in Plat Book 15 at Page 91 and as defined and described in the Condominium Declaration for Chapman Condominiums recorded August 26, 1980 in Book 393 at Page 663 and Correction thereto recorded March 15, 1984 in Book 463 at Page 152. AFFIRMATION OF COLORADO RESIDENCY I (we) hereby affirm that I am (we are) the transferor(s) or the fiduciary of the transferor of the property described on this Form 1083 and that as of I am (we are) or the estate or the trust is a resident of the State of Colorado. Signed under the penalty of perjury: Signature of transferor or fiduciary Date Spouse's signature if applicable Date AFFIRMATION OF PERMANENT PLACE OF BUSINESS I hereby affirm that the transferor of the property described on this Form 1083 is a corporation which maintains a permanent place of business in Colorado. Si•ned under the penalty of perjury: S��p.:a officer Date AFFIRMATION OF SALE BY PARTNERSHIP I hereby affirm that the transfer of property described on this Form 1083 was sold by an organization defined as a partnership under section 761(a)of the Internal Revenue Code and required to file an annual federal partnership return of income under section 6031(a) of the Internal Revenue Code. Signed under penalty of perjury: Signature of general partner Date AFFIRMATION OF PRINCIPAL RESIDENCE I (we) hereby affirm that I am (we are) the transferor(s) of the property described on this Form 1083 and immediately prior to the transfer it was my (our) principal residence which could qualify for the roll over of gain provision of section 1034 of the internal revenue code. Signed under the penalty of perjury: Signature of transferor Date Spouse's signature if applicable Date AFFIRMATION OF NO REASONABLY ESTIMATED TAX TO BE DUE I (we) hereby affirm that I am (we are) the transferor(s) or an officer of the corporate- transferor or a fiduciary of the estate or trust - transferor of the property described on the front side of this form, and I (we) further affirm that there will be no Colorado income tax reasonably estimated to be due on the part of the transferor(s) as the result of any gain realized on the transfer. Please understand before you sign this affirmation that nonresidents of Colorado are subject to Colorado tax on gains from the sale of Colorado real estate to the extent such gains are included in federal taxable income.Signed under penalty of perjury: Signature of transferor, officer, fiduciary. Date Spouse's signature if applicable Date W W , W w z 1 :r O V) N rz.vi , a r=d t,-- ce p E e MALL RECEIPT W Z co le i - ' 3 ` 1- 11±4 �° ,�r snty; No Insurance Coverage Provided) v IC ammInsinnu 1-11 u7 M v� t R., anon visit our websrte at'www. usps.corn O CZ O ®sue mi L USE Q= e r D- GC a a O � in ; MiniE=iiinEi c o c o ® o 0 O Postmark M W O C7 Here V 0 IZI Res R`a --- _.__ —_ IU N CI a COLORADO DEPT OF REVENUE a r e ° ° ' 1375 SHERMAN ST. r r DENVER CO 80203 SENDER: COMPLETE THIS SECTION COMPLETE THIS SECTION ON DELIVERY I • Complete items 1, 2, and 3. Also complete A. Signature item 4 if Restricted Delivery is desired. X 0 A • Print your name and address on the reverse 0 A O G so that we can retum the card to you. y N - • Attach this card to the back of the mailpiece, B. Received by %Printed Name) C. Date o ' j - r; m or on the front if space permits. `� D. Is delivery address different from item 1? 0 Y In Cr: 1. Article Addressed to: —' '! - � e L _ If YES, enter delivery address below: 0 N H `J L Z COLORADO DEPT OF REVENUE = o f= r 1375 SHERMAN ST. ._ a � iervice Type u] ., DENVER CO 80203 7 Certified Mail 0 Express Mail :=. �, c ` ' 7 R egistered T. - c' ; `_ ❑ Return Receipt for Men rA 0 Insured Mail 0 C.O.D. C. 0 i - 4. Restricted Delivery? (Extra Fee) 0 y 2. Article Number 7010 2780 0000 8194 1598 (Transfer from service label) _ _. _. —.. PS Form 3811, February 2004 Domestic Return Receipt ro,zoz, Pitkin County Treasurer Statement of Taxes Due Account Number R015667 Parcel 273512285802 Assessed To CITY OF ASPEN ATTN FINANCE DEPT 130 S GALENA ST ASPEN, CO 81611 Legal Description SSiws Address Subdivision: CHAPMAN Unit: 2 717 CEMETERY LN #2 Year Charges Med Payments Bai®ce Grand Total Due as of 02/25/2011 $0.00 Tax Billed at 2010 Rates for Tax Area 001 - 1 -AFS - 001 Authority Mill Levy Amount Values Actual Assessed PITKIN COUNTY 1.9840000* $0.00 EXEMPT - POLITICAL- $0 $0 HEALTHY COMMUNITY FUND 0.4020000* $0.00 RES -LAND ASPEN AMBULANCE DISTRICT 0.1420000* $0.00 EXEMPT - POLITICAL- $124,800 $9,930 RES -1MP OPEN SPACE & TRAILS 3.3510000* 50.00 PITKIN COUNTY LIBRARY 0.9320000* $0.00 Total $124,800 $9,930 CITY OF ASPEN VO 3.8540000* $0.00 ASPEN FIRE PROTECTION 1.3060000 50.00 ASPEN SANITATION DISTRICT 0.1300000 50.00 ASPEN VALLEY HOSPITAL 1.9310000 50.00 ASPEN SCHOOL DISTRICT 8.2540000 $0.00 COLORADO MTN COLLEGE 3.9970000 $0.00 COLORADO RIVER WATER CONS 0.1880000* $0.00 ASPEN HISTORIC DISTRICT 0.2370000* $0.00 Taxes Billed 2010 26.7080000 $0.00 * Credit Levy ALL TAX LIEN SALE AMOUNTS ARE SUBJECT TO CHANGE DUE TO ENDORSEMENT OF CURRENT TAXES BY THE LIENHOLDER OR TO ADVERTISING AND DISTRAINT WARRANT FEES. CHANGES MAY OCCUR AND THE TREASURER'S OFFICE WILL NEED TO BE CONTACTED PRIOR TO REMITTANCE AFTER THE FOLLOWING DATES: PERSONAL PROPERTY AND MOBILE HOMES - SEPTEMBER 1, REAL PROPERTY - SEPTEMBER 1. TAX LIEN SALE REDEMPTION AMOUNTS MUST BE PAID BY CASH OR CASHIERS CHECK. Pitkin County Treasurer 506 E. Main St — Ste 201 Aspen, CO 81611 (970) 920-5170 AUTHORIZATION TO CLOSE TO: PITKIN COUNTY TITLE, INC. 601 E. HOPKINS ASPEN, CO. 81611 [X] AS SELLER OF THE PROPERTY REFERENCED UNDER YOUR FILE NO. PCT23091W WE HEREWITH DELIVER TO YOU THE FOLLOWING DOCUMENTS: [X] STATEMENT OF SETTLEMENT - FIVE COPIES [X] TAX AGREEMENT LETTER - FIVE COPIES [X] CERTIFICATE OF NONFOREIGN STATUS [X] WARRANTY DEED CONVEYING SUBJECT PROPERTY TO BUYERS [ ] BILL OF SALE [X) AFFIDAVIT AND INDEMNITY AGREEMENT [X] NET PROCEEDS LETTER [] [] AS THE SELLER(S) YOU ARE HEREBY DIRECTED TO DELIVER THE ENCLOSED DEED TO THE PURCHASER UPON RECEIPT OF GOOD FUNDS FROM THE PURCHASER IN THE AMOUNT NECESSARY TO PAY ALL LIENS, ENCUMBRANCES AND NET PROCEEDS TO US AS SET FORTH ON THE SETTLEMENT STATEMENT ENCLOSED HEREIN AND PURSUANT TO THE NET PROCEEDS LETTER. SELLER AND PURCHASER HEREBY AGREE AND ACKNOWLEDGE THAT SOME OF THE FIGURES AS SET FORTH ON THE SETTLEMENT STATEMENTS HEREIN DELIVERED AND APPROVED BY THE SELLER AND PURCHASER WERE OBTAINED FROM THIRD PARTIES, AND PITKIN COUNTY TITLE, INC., SHALL NOT BE HELD LIABLE OR ACCOUNTABLE FOR ANY FIGURES OBTAINED THAT MAY HAVE BEEN IN ERROR OR OBTAINED WITH MIS - INFORMATION AS PROVIDED BY SUCH THIRD PARTIES. SELLER AND PURCHASER HEREBY AGREE TO HOLD PITKIN COUNTY TITLE, INC., HARMLESS FROM ANY LOSS OR DAMAGE RESULTING FROM SUCH INACCURACIES. NOTE: This is a sale transaction. The Specific rate applicable to this transaction is disclosed on Schedule A of the preliminary Title Commitment. The undersigned has reviewed the rate and concurs with the rate quoted in Schedule A of the Title Commitment. IF THERE IS A LINE OF CREDIT BEING PAID OFF IN THIS TRANSACTION, THE LENDER IS HEREBY INSTRUCTED TO CANCEL THE LINE OF CREDIT LOAN AND IMMEDIATELY FORWARD THE RELEASE, ORIGINAL NOTE AND DEED OF TRUST TO PITKIN COUNTY TITLE, INC. FOR PROCESSING BY THE PUBLIC TRUSTEE. 1IWE UNDERSTAND THAT THIS LINE OF CREDIT, IF ANY, IS BEING PAID OFF AND RELEASED AND 1/WE WILL MAKE NO FURTHER DRAWS FROM THE ACCOUNT. CITY OF ASPEN A MUNICIPAL CORPORATION Title: .g'ri'N i CERTIFICATE OF NONFOREIGN STATUS BY CORPORATION, PARTNERSHIP, TRUST OR ESTATE PCT23091 W TO: STERLING WILLIAM SEAMANS JR. and EILEEN MARIE SEELEY FROM: CITY OF ASPEN A MUNICIPAL CORPORATION Section 1445 of the Internal Revenue Service Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is a foreign entity. To inform the transferee (buyer) that withholding is not required upon the disposition of a U.S. real property interest, by CITY OF ASPEN A MUNICIPAL CORPORATION the undersigned hereby certifies that the following on behalf of the entity: 1. The entity is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations): 2. The entity's U.S. Employer identification number is 84- 6000563 3. The entity's office address is: 130 S. GALENA ST. ASPEN, CO 81611 The above entity understands that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief, it is true, correct and complete, and I further declare that I have the authority to sign this document on behalf of the above entity. CITY OF ASPEN A MUNICIPAL CORPORATION BY: All rod L �!. Title: S TTORNEY AFFIDAVIT AND INDEMNITY AGREEMENT Title Commitment No. PCT23091 W STATE OF COLORADO ) ) ss COUNTY OF PITKIN ) The undersigned, being first duly sworn on oath, as Seller of the property described as: UNIT 2, CHAPMAN CONDOMINIUIMS, according to the Amended Condominium Map of Chapman Condominuims recorded March 13, 1984 in Plat Book 15 at Page 91 and as defined and described in the Condominium Declaration for Chapman Condominiums recorded August 26, 1980 in Book 393 at Page 663 and Correction thereto recorded March 15, 1984 in Book 463 at Page 152. County of PITKIN, State of Colorado ( "Real Property") does hereby make the following representations and warranties to Pitkin County Title, Inc. and any title insurance company issuing an ALTA Policy of insurance pursuant to the title commitment referenced above (collectively referred to herein as "Pitkin County Title ") for the purpose of inducing Pitkin County Title to issue a lenders' policy of title insurance for the Real Property: Representations and Warranties of Sellers That the undersigned knows of no easements, rights of way, contracts, agreements, options, rights of first refusal, leases, leaseholds, tenancies or other rights in or claims to the Real Property or any portion thereof, written or verbal, recorded or unrecorded, other than those disclosed in the title commitment referenced above. I. That all persons, firms and corporations who have furnished services, labor or materials for the construction, renovation, repair, maintenance, or remodeling of improvements on the Real Property have been paid in full and that there are no unresolved claims by any architect, contractor, subcontractor, laborer or materialman. II. That there are no lawsuits, proceedings in bankruptcy, proceedings for receivership, judgments, liens, writs, or other proceedings that affect the Real Property, whether recorded or unrecorded including past due real or personal property taxes. III. That, if the undersigned is an entity, the individual person signing this agreement has proper authority to execute this document and any other documents executed by him /her in connection with this transaction, or, if the undersigned is attorney -in -fact for the owner of the Real Property, then the undersigned warrants and represents that he /she has proper, written authority to execute this document and any other documents executed by him /her in connection with this transaction. Representations and Warranties of Seller 1. That the undersigned Seller is the owner of the Real Property and that there are no other present owners of the Real Property or any portion thereof. 2. That the undersigned Seller has possession of all of the Real Property and that no other person or entity has or has made any right or claim, written or verbal, to use or possess any portion of the Real Property. 3. That there are no unpaid governmental or association taxes, assessments, fees, or charges of any kind on the Real Property. 4. That there are no deeds of trust, chattel mortgages, security agreements, financing statements, secured debt, conditional bills of sale, or other encumbrances that affect the Real Property, whether recorded or unrecorded. 5. That, if any deed of trust recorded against the Real Property secures an open line of credit or a revolving line of credit, the undersigned Seller has not drawn additional funds from the line of credit since the date of the payoff statement from the lender to Pitkin County Title and will not draw any additional funds. Exceptions The only exceptions or limitations to the above representations and above warranties are as follows: (describe any exceptions or limitations below) The undersigned understands that Pitkin County Title is relying upon the foregoing representations and warranties and that, without such representations and warranties, no ALTA policy of title insurance would issue. The undersigned promises, covenants and agrees to hold indemnify, defend, and hold harmless Pitkin County Title from and against any liabilities, losses, damages, expenses, and charges (including but not limited to attorneys' fees) arising from or related to any inaccuracies in the above representations, any breach of the above warranties, and any liens, claims or rights not listed as Exceptions on Schedule B -2 of the above - referenced title commitment — provided that said liens, claims, or rights were created by the undersigned or known to the undersigned and have an inception date or attachment date prior to the closing of this transaction. If Pitkin County Title delivers to the undersigned a written demand for indemnification, defense or payment required to be made pursuant to this agreement, and the undersigned fails or refuses to provide such indemnification, defense or payment within thirty (30) days, Pitkin County Title may proceed to take any and all actions that Pitkin County Title, in its sole and absolute discretion, shall deem necessary to protect itself and its insureds. Provided that Pitkin County Title has complied with the requirements of this paragraph, Pitkin County Title shall be awarded judgment against the undersigned (or individual signing this agreement) for all amounts paid (including attorneys' fees and costs) with interest at a rate of twelve percent (12 %) per annum from the date such amounts were paid. In this Agreement, whenever the context requires, the singular shall include the plural. This agreement is binding upon the parties, their heirs, successors, and assigns. Dated thisa% day of FEBRUARY, 2011. Affiant: CITY OF ASPEN A MUNICIPAL CORPORATION 13Y: TIT ATT RNEY State of COLORADO ) )ss County of PITKIN ) Subscribed and sworn to before me this a� day of FEBRUARY, 2011 by JOHN WORCESTER, CITY ATTORNEY FOR THE CITY OF ASPEN A MUNICIPAL CORPORATION Witness my hand and official seal ary Public �Gov V � y'V, My commission expires I —t c COMBINED RETT EXEMPTION APPLICATION GRANTEE: FOR ORD.20,1979 (WHEELER RETT) AND EXEPTION CERT # ORD.13.1990 (HOUSING RETT) DATE RECEIVED THIS CITY OF ASPEN REAL ESTATE TRANSFER TAX EXEMPTION APPLICATION IS DUE AT THE TIME OF TRANSFER AND PRIOR TO RECORDING OF THE APPLICABLE DEED(S). THIS FORM COMBINES EXEMPTIONS FOR BOTH THE WHEELER RETT AND THE HOUSING RETT. SINCE THE EXEMPTIONS FOR THE HOUSING RETT INCLUDE THE EXEMPTION OF THE FIRST $100,000 OF EACH TRANSACTION AND THE EXEMPTION OF ALL "DEED RESTRICTED EMPLOYEE HOUSING ", IT IS POSSIBLE FOR A TRANSACTION TO BE SUBJECT TO THE WHEELER RETT AND EXEMPT FROM THE HOUSING RETT. FOR THIS REASON, SEPARATE EXEMPTIONS FOR EACH RETT MUST BE APPLIED FOR AND GRANTED, HOWEVER THE CITY HAS ALLOWED FOR THE EXEMPTIONS OF BOTH RETT'S TO BE ADDRESSED ON THIS ONE FORM. STATE OF COLORADO ) COUNTY OF PITKIN ) ss. The undersigned, as Grantee of a deed or instrument of conveyance from CITY OF ASPEN (grantor) to STERING WILLIAM SEAMANS, JR. AND EILEEN MARIE SEELEY (grantee) dated FEBRUARY 28, 2011 transferring the following described property situated in the State of Colorado, County of Pitkin, and the City of Aspen (if necessary, attached copy of legal description): See Attached Exhibit "A" hereby does apply from the payment of the 0.5% Wheeler Real Estate Transfer Tax (WRETT) and the 1.0% Housing Real Estate Transfer Tax (HRETT)imposed by Chapter 23.48 of the City of Aspen's Municipal Code. Please indicate all of the applicable exemptions defined in the City of Aspen Municipal Code Section 23.48 that apply. The basis of such exemption is a follows (please be explicit; attach exhibits, documents, and substantiation, as required): CITY OF ASPEN IS GRANTOR AND THIS IS EMPLOYEE HOUSING Please Indicate the type of property by checking one of the items below: _ X _ Deed Restricted employee housing Fractional (timeshare) residential Non - fractional residential Commercial Industrial AFFIDAVIT I Certify, In Compliance with the City of Aspen's Municipal Code, that the Foregoing is True and Correct. Name of Purchaser (Grantee): STERLING = IAMEAMANS J'. and EILEE JARIE S te• LEY. / Signature of Purchaser (Grantee): i ( by an agent, certificate of agency is required.) Phone Number of Purchaser (Grantee): Notarization of Purchaser's Signatures Is Mandatory: Subscribed and sworn to before me this a% day of FEBRUARY, 2011 My commission expires: – 1_ t ( —( L A _ Notary Public q .) rF.g e Address: °i FC ^ v s�zssr PLEASE PROVIDE INDIVIDUAL OWNERSHIP DETAILS AS NOTED BELOW: In order to determine the propriety of RETT Exemption requests, the City of Aspen requires documentation of each of the individual owners and their respective %'s of ownership, especially when the grantor or grantees are corporations, LLC's, LLP's, PC's, partnerships, etc. Please indicate the individual full names of the grantors and grantees below and attach substantiating documentation such as corporate resolutions or partnership agreements which clearly support the individual ownership and percentages listed below: GRANTOR(s) (aka sellers -first & last names): 1: CITY OF ASPEN % of Ownership= 100 ok 2: % of Ownership= 3: % of Ownership= ok 4: % of Ownership= (if additional space is required, please attach a list of the grantors and %'s of ownership) GRANTEE(s) (aka buyers -first & last names): 1:_STERLING WILLIAM SEAMANS, JR. % of Ownership= 50 ok 2:_EILEEN MARIE SEELEY % of Ownership= 50 ok 3: % of Ownership= ok 4: % of Ownership= ok (if additional space is required, please attach a list of the grantors and %'s of ownership) (if additional space is required, please attach a list of the grantors and %'s of ownership) CERTIFICATE(S) OF EXEMPTION FROM THE CITY OF ASPEN RETT(S): I hereby certify that the within described transfer of real property is exempt from payments of the Wheeler Real Estate Transfer Tax (WRETT) and the Housing Real Estate Transfer Tax (HRETT). Signature of City Official Date Any person whose claim of exemption, duly applied for under the provisions of Chapter 23.48 of the City of Aspen's Municipal Code, is denied by the Director of Finance, may immediately appeal to the City Council for a determination of such exemption and such appeal shall be considered by the City Council at its' next regular meeting. In event of a determination by the City Council favorable to said grantee, any amount previously deposited, or so much thereof as may be allowed by the Council, shall be promptly refunded to said Grantee. For More Information, please contact: Larry Thoreson, City of Aspen Sales Tax Administrator Phone: 970 - 920 -5029 E -mail: larryt @ci.aspen.co.us City of Aspen Municipal Code Web Page address: 130 South Galena Street http:l \ordlink.com /codes /aspen /indes.htm Aspen, Colorado 81611 Look in Section 23 Revised Form 05/24/06 EXHIBIT "A" LEGAL DESCRIPTION UNIT 2, CHAPMAN CONDOMINIUIMS, according to the Amended Condominium Map of Chapman Condominuims recorded March 13, 1984 in Plat Book 15 at Page 91 and as defined and described in the Condominium Declaration for Chapman Condominiums recorded August 26, 1980 in Book 393 at Page 663 and Correction thereto recorded March 15, 1984 it Book 463 at Page 152. REAL ESTATE TAX AGREEMENT RE: Order No: PCT23091 W Buyer(s): STERLING WILLIAM SEAMANS JR. and EILEEN MARIE SEELEY Seller(s): CITY OF ASPEN A MUNICIPAL CORPORATION Property: 717 CEMETERY LANE - ASPEN, CO 81611 The undersigned Buyer(s) and Seller(s) do hereby understand and agree that the proration for general property taxes was calculated on the basis of: ( X) Taxes have not been prorated in the settlement statements as the City of Aspen is exempt from property taxes. Accordingly, the Buyer(s) and Seller(s) do hereby hold Pitkin County Title, Inc., harmless from any liability or damages caused by an inaccurate proration for general property taxes resulting from any variation of difference in the actual general property taxes assessed for the current year. Both Buyer(s) and Seller(s) agree to make the proper proration as may be required subsequent to the closing, and it is also understood and agreed that any prorations not reflected on the Settlement Statement in regard to utilities that the Seller shall be responsible for any final payment(s) due for such utilities and in the event a lien is filed for any unpaid utilities and Pitkin County Title, Inc., is required to pay such utilities costs to clear title, Seller shall promptly repay Pitkin County Title, Inc., upon receipt of evidence of payment of those utilities. CITY OF ASPEN A MUNICIPAL CORPORATION By: Title: CITkir •RIVEY _ STERLING ILLIAM -- AMANS JR. EILEEN MARIE S 'ELEY / ACKNOWLEDGMENT OF RECEIPT OF SETTLEMENT STATEMENT Borrower: STERLING WILLIAM SEAMANS JR. and EILEEN MARIE SEELEY Seller: CITY OF ASPEN A MUNICIPAL CORPORATION Lender: WELLS FARGO BANK, N.A. Settlement Agent: PITKIN COUNTY TITLE, INC. 970 - 925 -1766 Place of Settlement: 601 EAST HOPKINS ASPEN, COLORADO 81611 Settlement Date: February 28, 2011 Property Location: 717 CEMETERY LANE ASPEN, CO 81611 PITKIN, CO I have carefully reviewed the HUD -1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that I have received a copy of the HUD -1 Settlement Statement. Al AH. STERLING WILLIAM SEAMANS JR. CITY A MUNICIPAL CORPORATION EILEEN MARIE SEELEY To the hest of my knowledge, the HUD -1 Settlement Statement which I have prepared is a true and accurate account of the funds which were received and have been or will be disbursed by the undersigned as part of the settlement of this transaction. it I PITKIN CO TY TITLE, IN( Settlement � nt WARNING: It is a crime to knowingly make false statements to the United States on this or any similar form. Penalties upon conviction can include a fine and Imprisonment. For details see: Title 18 U.S. Code Section 1001 and Sect 1010. OMB Approval No. 2502 -0265 A. Settlement Statement (HUD -1) ;a P: 1. FHA 2. I RHS 3. X Cony Limns 6. Fite Number 7. Loan Number 8. Mortgage Insurance Number - PCT23091W 0318741006 4. 1 VA 5. f l Conv. Ins. C. NOTE'. This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked '(p.o.c.)' were i paid outside the closing, they are shown here for informational purposes and are not included in the totals D. Name & Address of Borrower E. Name & Address of Seller F. Name & Address of Lender ■ STERLING WILLIAM SEAMANS_JR. CITY OF ASPEN A MUNICIPAL WELLS FARGO BANK, N. A. EILEEN MARIE SEELEY CORPORATION 119 S. MILL ST. ASPEN, CO 81611 G. Properly Location H Settlement Agent Phone 970-925-1766 1. Settlement Date 15667 PITKIN COUNTY TITLE, INC. - 601 EAST HOPKINS 2/28/2011 717 CEMETERY LANE ASPEN, COLORADO 81611 ASPEN, CO 81611 Place of Settlement UNIT 2, CHAPMAN CONDOS 601 E. HOPKINS, 3RD FLOOR ASPEN, CO 81611 Y l / p n^ u+. ✓k1^ � t nil r N > ,. tiy t r w;...M I ' zr ,. a rcj r } .. ¢ �n ^i'� ! i {?r41.+," a,,,J ° s . � F . s' yl ��'':�IUI11�4, t�`�wiD�'., II�f,S��" n8 1 0,;, ��"t T � i� s- u p T ° � ° ,t�,�.,,a+y . L ..iw.esi+..w,.ry'eu`Y3Y�Fai3� v: 100. Gross Amount Due From Borrower 400. Gross Amount Due To Seller 101. Contract sales price 401. Contract sales price 250,000.00 102. Personal property 402. Personal property 103. Settlement charges to borrower (line 1400) 403, 104. 404. 105. 405. Adjustment for Items paid by seller In advance Adjustments for Items pald by seller in advance 106. City/town Taxes to 406. City /town Taxes to 107. County Taxes to 407. County Taxes to 106. Assessments to 406. Assessments to 109. 409. _ - - 110. 410 111. 411. 112. 412. 120. Gross Amount Due from Borrower 420. Gross Amount Due to Seller 250,000.00 200. Amounts Paid by or In Behalf of Borrower 500. Reductions In Amounts Due to Seller 201. Deposit or earnest money 501. Excess Deposit (see instructions) 202. Principal amount of new loan(s) 502. Settlement charges to seller (line 1400) 35.00 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan 205. 505. Payoff of second mortgage loan 206. 506. 1/2 CLOSING FEE REIMB TO BUYER 175.00 207. 507. OWNER TITLE POLICY REIMB TO BUYER 848.00 208. 508. 209. 509. - Adjustments for items unpaid by seller Adjustments for Items unpaid by seller 210. City /town Taxes to 510. City/town Taxes to 211. County Taxes to 511. County Taxes to 212. Assessments to 512. Assessments to 213. 513. 214. 514. -- _ - -- 215. 515. 216. 516, 217. 517. 218. 518. 219. 519. -- 220. Total Paid by /for Borrower 520. Total Reduction Amount Amount Due Seller 1,058.00 300. Cash at Settlement from /to Borrower 600. Cash at Settlement to /from Seller 301. Gross amount due from borrower (line 120) 601. Gross amount due to seller (line 420) 250,000.00 302. Less amounts paid by /for borrower (line 220) 602. Less reductions in amount due seller (line 520) 1,058.00 303. Cash 1_ l Fr To Borrower 603. Cash I J To From Seller 248,942 00 The Public Reporting Burden for this collection of information is estimated at 35 minutes per response for collection, reviewing, and reporting the data. This agency may not collect this information, and you are not required to complete this form, unless it displays a currenity valid OMB control number. No confidentiality is assured; this disclosure is mandatory. This is designed to provide the parties to a RESPA covered transaction with information during the settlement process Previous editions are obsolete Page 1 of 3 HUD -1 � `k a 'i c 'R;. ,� r g,.1 sobs X 'y61 '. L IVYr a LL77 .,M k• . �X"' {.a��. . . 1 §, : v ''g:1" �' `}. 9F.����'97."tl°�$o.�:fl � ar a'� ^ r'��i'ffi�.Wl'�t� of M �.`� +'' 700. Total Real Estate Broker Fees Paid From Paid From Division of commission (line 700) as follows. Borrower's Sellers r 701 $ -- to Funds at Funds at E702� $ to Settlement Settlement 703. Commission paid at settlement _ 704 800. Items Payable in Connection with Loan 801. Our origination charge $ (from GFE 111) 802. Your credit or charge (points) for the specific interest rate chosen $ Dram GFE #2) 803. Your adjusted origination charges prom GFE A) 804. Appraisal fee to (from GFE 43) 805. Credit Report to (from GFE 43) 806. Tax service to (from GFE 113) 807. Flood certification • (from GFE #3) 808 1 809 810 811 812 813 814 815 816 900. Items Required by Lender to Be Paid In Advance 901. Daily interest charges from to @ /day (from GFE 1110) 902 Mortgage insurance premium for months to (from GFE 43) 1 903- Homeowner's Insurance for years to (from GEE 1111) 904 - - ' 905 1000. Reserves Deposited with Lender _ 1001. Initial deposit for your escrow account $ (from GFE 49) 1002. Homeowner's insurance months @ $ per month $ 1003. Mortgage insurance months @ $ per month $ 1004 Property Taxes months @ $ per month $ 1005. months © $ per month $ 1006. months @ $ per month $ 11007. Aggregate Adjustment -$ 1100. Tide Charges 1101. Title services and lender's title insurance (from GFE 44) 1102 Settlement or closing fee 1103 Owner's title insurance PITKIN COUNTY TITLE, INC. (from GFE 45) 848.00 1104 Lender's title insurance $ 1105 Lender's title policy limit $ 1106. Owner's title policy limit $ 250,000.00 1107. Agents portion of the total title insurance premium $ 946.90 to: PITKIN COUNTY TITLE, INC. 1108. Underwriter's portion of the total title insurance premium $ 167.10 ^ WESTCORLANO 717LE INSURANCE COMPANY 1109 1110. $ _ _ 1111 $ _ 1112 $ _ l '. 1113. SCRIVENER FEE TO PCT $ 35.00 1114. $ -- - 1200. Government Recording and Transfer Charges 1201. Government recording charges (from GFE #7) 1202. Deed $ Mortgage $ Release $ 1203 Transfer taxes (from GFE 118) 1204. City /County tax /stamps Deed $ Mortgage $ 1205. Stale tax /stamps Deed $ Mortgage $ r 1206. $ _.- -._ -_ 1207. 1300. Additional Settlement Charges 1301. Required services that you can shop for (from GFE 46) __ 1302 $ 1303. $ 1304. $ 1305 $ _ 1306 -- -_ 1307 r r_ ' . ppr ,f e '41.r .ii ;N• 41 t: ,^*� *'." 350 r�� ��, 1 vnr,r. 1 � no �7m�fsndr�o .Ix��+d ?We � 7 . . , r :4 a. :.� ,�dVAm � h - - -_ Previous editions are obsolete Page 2 of 3 HUD -1 Comparison of Good Faith Estimate (GFE) and HUD -1 Charges Good Faith Estimate HUD -1 _ Charges That Cannot Increase HUD -1 Line Number Our origination charge # 801 595.00 595.00 Your credit or charge (points) for the specific interest rate chosen # 802 0.00 Your adjusted origination charges # 803 595.00 595. D0 L ransfer taxes # 1203 0.00 Charges That in Total Cannot Increase More Than 10% Good Faith Estimate HUD -1 Government Recording Charges # 1201 167.00 152. Title services and lender's title insurance # 1101 1,270.00 - 911.00 Owner's title insurance to PITKIN COUNTY TITLE, IN # 1103 827.00 848.00 I -- I ENDTS 100, 8. 115.1 a 1109 0.00 LLOAN CLOSING FEE # 1110 0.00 EXPRESS CHARGE TO PCT # 1111 0.00 FLOOD LIFE OF LOAN FEE WF FLOOD INSRUANC # 1302 19.00 19.00 TAX SERVICE FEE TO WFRETS # 1303 78.00 78.00 # � � Ittb^ r err Lt ,. - 2008.00 rvgr.Y�' >fXudt t rcr 2361 00 _ I n i x 7 x 7 T ° "c r f'w 'v d °�pz, x — 14.95 G � , SP � Y , ".� Mv„�-hVr'mY�i �+'+ - „�41k#+akk'1sr_r J� t�h N mT Ar,k . !+° $ (353.00) or Charges That Can Change Good Faith Estimate HUD -1 Initial deposit for your escrow account # 1001 480.00 192.99 Daily interest charges $ 33.35 /day # 901 33.35 33.35 Homeowner's insurance # 903 1,080.00 1,003.99 # # # # # # Loan Terms Your initial loan amount is $ 237,500.00 Your loan term is 30 Years Your initial interest rate is 5.125 % Your initial monthly amount owed for principal, interest, and $ 1479 includes and any mortgage insurance is n Principal © Interest Mortgage Insurance Can your interest rate rise? UX No. ] Yes, it can rise to a maximum of %. The first change will ll be on and can change again every after Every change date. your interest rate can increase or decrease by %. Over the life of the loan, your interest rate is guaranteed to never be lower than % or higher than Even if you make payments on time, can your loan balance rise? [] No. []Yes, ii can rise to a maximum of $ Even if you make payments on time, can your monthly [ j No. L] Yes. the first increase can be on and the amount owed for principal, interest and mortgage insurance rise? monthly amount owed can rise to $ The maximum it can ever rise to is $ Does your loan have a prepayment penalty? a No L] Yes, your maximum prepayment penalty is $ Does your loan have a balloon payment? n No. ] Yes, you have a balloon payment of $ due in years on Total monthly amount owed including escrow account payments L] You do not have a monthly escrow payment for items, such as property taxes and homwower's insurance. You must pay these items directly yourself. U You have an additional monthly escrow payment of $ 250.36 that results in a total initial monthly amount owed of $ 1,543.52 This includes principal, interest, any mortgage insurance and any items checked below n Properly taxes ] Homeowner's insurance Fi Flood Insurance ! U ❑ NOTE. If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender. Previous editions are obsolete Page 3 of 3 HUD - LEASE AGREEMENT (City employee as Lessee) THIS AGREEMENT by and between the City of Aspen, Colorado ("Employer"), a municipal corporation, and HIMBERLY PETERSON_ ("Employee") is entered into in Aspen, Colorado, and is effective SEPTEMBER 1, 2008. WHEREAS, Employer owns a residential premises situated at 717 CEMETERY LANE, Aspen, Colorado (the "Premises"); and WHEREAS, Employee is presently employed by Employer as a GLOBAL WARMING PROJECT MANAGER. NOW, THEREFORE, in consideration of the terms as specified below, the parties agree as follows: L In consideration of the sum of Fifteen Hundred Seventy Five Dollazs and thirty three cents ($1,575.33) payable to the Employer on or before the first day of each month commencing SEPTEMBER 1, 2008 and continuing until termination of the rights granted by this Agreement as provided below, Employer grants to Employee, as its employee and incident to such employment, the right to occupy the premises. Monthly rental payments shall be due and payable on or before the 1 S` day of each month of the lease term in the form of a personal check, cashier's check, money order, or payroll deduction directly to City of Aspen Finance Department at 130 South Galena Street, Aspen, Colorado 81611. In the event that the term of this Lease Agreement extends beyond one yeaz from the date it commences, the rent shall increase each yeaz on the anniversary by the percentage increase in the Urban Index during the twelve month ending on September 1 of each calendaz year. (Urban Index and a description of calculating index changes is attached hereto as Exhibit "A.) 2. Employee has a grace period to the fifth (5`h) day of the month to pay rent with no penalties. Employee shall be assessed a late charge of twenty five dollazs ($25.00) if Employee has not paid, postmazked, or hand delivered rent by the close of business on the fifth (5th) day of the month or the first (I5~) business day after the fifth (Sth) day of the month if the fifth (5`") day of the month is a weekend or holiday. Late fees may only be waived by the Assistant City Manager. Employer's failure to collect any late charges that have accrued shall not be deemed to be a waiver of these chazges and Employer shall be entitled to deduct all accrued and unpaid late chazges out of Employee's paycheck upon termination of this Lease. In the event any amount so due is delinquent for a period in excess of ten (10) days, an additional late chazge equal to twenty five dollazs ($25.00) for a maximum late chazge per month of fifty dollazs ($50.00) after the tenth (10th) day of the month or the first (lst) business day after the tenth (10d') day of the month if the tenth (10`s) day of the month.is a weekend or holiday will be paid by Employee to Employer for the period of delinquency in excess of ten (10) days. If Employee makes any payment to Employer by a check which is later dishonored for any reason, Employer may, in addition to other remedies available to it hereunder, require that future rental payments be paid by cashier's check or certified funds. Employee agrees to pay the Employer twenty five dollars ($25.00) for each instance that a check given to the City of Aspen is dishonored in addition to a late payment chazge. If Employer receives more than one bad check from Employee during his or her tenancy, Employer, at its option, shall have the right to terminate this lease. 3. The premises shall be used by Employee and one housemate for private dwelling residential purposes. Premises must maintain a minimum occupancy of two (2) people. Employee shall have sole discretion to choose a housemate within a reasonable timeframe of sixty (60) days. Chosen housemate's rent shall not exceed half of the total rent and utility expenses. Each tenant shall not allow guests to remain on the occupied premises for any period of time that extends beyond eight (8) hours without the consent of the other tenant. Violation of these rules shall be deemed a material default under this lease. 4. Employee is responsible for payment of all utilities which must be placed in Employee's name upon timely execution of this agreement. 5. The right of occupancy as granted herein may be terminated at any time by: a. Employer providing Employee written notice of its intention to terminate the occupancy not less than thirty (30) days prior to the date of termination; b. Employee providing Employer written notice of his intention to terminate the occupancy not less than thirty (30) days prior to the date of termination; c. The termination of Employee's employment with Employer, in which event Employee shall vacate the Premises within thirty (30) days from the date of the notice of termination of employment; d. Employee's violation of any of the terms of this Agreement, in which event Employee shall be allowed seven (7) days to cure such violation from the date of written notice thereof and, failing to cure, shall thereafter vacate the Premises in thirty (30) days. 6. Employee agrees and promises to pay Employer the above-stated consideration in a timely fashion and agrees that it may be withheld by Employer out of any wages or other sum of money that may become due to Employee from Employer. C:\Documenu and Settings\randyrr\Local Settings\Temporary IntemZet Files\OLKIED\Peterson 7l7 Cemetery Laoe 72808 (2).doc 7. Employee further agrees and covenants to properly caze for the Premises and the surrounding outdoor azea and shall make repairs and replace furnishings or equipment as may be necessitated by Employee's negligent acts or omissions. 8. Employee hereby covenants and agrees to indemnify and save harmless Employer from all liability, claims, demands and actions of any kind and nature, whether asserted by Employee, his invitees, guests, relatives, or other third parties, by reason of any and all of Employee's use of Premises, and Employee shall procure, at his own expense, personal and public liability insurance for the benefit of the City with limits not less than those specified by Section 24-10-114, C.R.S., as may be amended from time to time, naming Employer as co-insured. 9. Employee shall use and occupy the Premises as his private residence and for no other purpose without the Employer's prior written consent. Further, Employee shall not keep, use or permit the use of anything prohibited by any policy of fire/casualty insurance covering the Premises and shall comply with all requirements of insurers applicable to the Premises to keep in force fire/casualty and liability insurance. 10. Employee shall not assign this Agreement or sublet the premises or any part thereof except as specifically authorized herein. 11. Upon termination of this Agreement, by expiration of its terms or otherwise, Employee shall surrender the Premises to Employer in good order and . condition, ordinary weaz and damage excepted, and Employee shall remove all personal property and shall repair any damage to the Premises caused by such removal. Any property of Employee or any one claiming under Employee which shall remain upon the Premises after termination of this Agreement shall be deemed to have been abandoned and may be retained by Employer as its property or disposed of in such manner as Employer sees fit. 12. Duly authorized representatives of the Employer shall be entitled to enter upon the Premises upon notice at all reasonable hours for purpose of inspecting same, preventing waste or loss, or enforcing any of the Employer's rights written consent. 13. Alterations, additions or improvements to the Premises shall only be undertaken upon Employer's written consent. 14. Employer expressly reserves the right to raise or lower the amount of consideration to be paid by Employee as specified in Paragraph 1 above upon providing Employee not less than thirty (30) days written notice prior to the effective date of any new amount. 15. All notices as required by this Agreement shall be sufficient if hand- delivered or sent to the following addresses by certified mail: Emrolover Emplovee C:\Documents and Settings\randyrV.ocal Settings\Temporary Intem3et Eiles\OLKIED\Peterson 717 Cemetery Lane 72808 (2).doc City Manager 130 South Galena Street Aspen, Colorado 81611 Kimberly Peterson 717 Cemetery Lane Aspen Colorado 81611 15. This Agreement shall only be modified or amended by writing executed by both parties. Signed on the date(s) as indicated below: ATTEST: Kathryn S. Koch, City Clerk EMPLOYER: By ~ ~[~ Ste Barwick D to City Manager EMPLOYEE: ~~ ~ $ I, U~ Date C:\Documents and Settings\randyr\Local Settings\Temporary Inter ~ Files\OLKIED\Peterson 7l7 Cemetery Lane 72806 (2).doc EXHIBIT "A" CALCULATION OF CHANGES IN URBAN INDEX The term "Urban Index" used herein shall refer to the consumer Price Index -All Urban Consumers (CPI-U), U.S. City Average, All Items (1967 = 100) compiled by the United States Department of Labor, Bureau of Labor Statistics. Byway of identification, the parties agree that the CPI-U index number for July 1993 = 432.6. If at the time of computation of rental increases as provided below the Urban Index as defined is not then being currently published, the parties shall mutually select a substitute index which has historically approximated the Urban Index as defined. The parties further agree that the methodology they will use for calculating index changes in the Urban Index is that described in the instruction sheet from the Bureau of Labor Statistics, U.S. Department of Labor, which reads as follows: CALCULATING INDEX CHANGES Movements of the indexes from one month to another aze usually expressed as percent changes rather than changes in index points, because index point changes aze affected by the level of the index in relation to its base period while percent changes are not. The example in the accompanying box illustrates the computation of index point and percent changes. Percent changes for 3-month and 6-month period are expressed as annual rates and aze computed according to the standazd formula for compound growth rates. These data indicate what the percent change would be if the current rate were maintained fora 12-month period. INDEX POINT CHANGE CPI Less previous index Equals index point change 315.5 303.5 12.0 PERCENT CHANGE Index Point difference 12.0 303.5 0.040 0.040 x 100 Divided by the previous index Equals Results multiplied by one hundred Equals percent change 4.0 C:\Documen[s and Settings\randyr\Local Settings\Temporary Intem~t Files\OLKI ED\Peterson 717 Cemetery Lane 72808 (2).doc