HomeMy WebLinkAboutcoa.lu.gm.Ryanco 715 W Main.A30-90 PZM6. 19 .90
handle on this. This may be part of our various revisions. I
want to put that down as something we should really look into.
Baker: $2 . 39 per square foot a month.
Mari: Asked about the Dopkin fence. When we last saw that we
required them to do something before getting a building permit
before the second part. The second part has begun and nothing
has happened to the fence.
Leslie: Buzz, Bill Drueding and I in going over Buzz's plans,
Buzz wanted to take down the fence at the time that his workmen
were there.
STAFF COMMENTS
There were none.
PUBLIC COMMENTS
There were none.
MINUTES
DECEMBER 12, 1989
Richard made a motion to approve the minutes.
Mari seconded the motion with all in favor.
RYANCO GMOS EXEMPTION
Lelsie made presentation as attached in record.
Jasmine: Having to do with cumulative effects: For example this
application comes in and it is under the 500sgft limit. How do
you monitor if and when they ever come in for more expansion?
Leslie: Typically we look in the old files to see if there has
been prior approval for any project and see what they are.
Randy Wedum, architect: Explained the project using plans.
Jasmine asked the applicant if they had any problem with the
conditions of approval.
Arch: I do have one problem with the parking. The existing FAR
is 6,000sgft. When I originally designed the building I got a
parking variance for 1.5 spaces per thousand. Based on that that
comes out to 9 spaces. In the memo addressing that we are
generating .54 extra spaces. So if what you are asking me to do
is add one more space, I already have 10 spaces so I should think
that would cover my increase.
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MEMORANDUM
TO: Leslie Lamont, Planning
FROM: Yvonne Blocker, Housing Authority
DATE: June 27 , 1990
RE: Ryanco GMQS Exemption for an Expansion of Floor Area
SUMMARY: The Applicant seeks to add net leasable floor area
to an existing office building. The increase in floor area is a
total of 463 square feet which makes this proposal exempt from GMP
by the provision of Section 8-104 B. 1 (a) .
Planning staff had recommended approval with conditions.
APPLICANT: Ranch Partners, Ltd C/O Warren Ryan, General Partner
LOCATION: 615 West Main, Lots D, E, and F, Block 19 of the
City of Aspen.
ZONING: Office
APPLICANT'S REQUEST: GMQS Exemption for the enclosure of
approximately 463 square feet.
The Applicant is required to mitigate employees generated by the
increase of 463 net leasable area. The Office zone requires 3
employees/1000 net leasable floor area. Applicant must mitigate
60% of the employees generated which is approximately . 83
employees.
In a letter from Scott Barringer, Partner of Ryanco, dated June
23 , 1990, (copy of letter attached) he has explained that the
employees who would be occupying the expanded net leasable area
are three employees in the $75, 000 a year middle income category.
A payment-in-lieu fee for . 83 employees X $15, 000 . 00 (middle-income
employee) = $12 , 450 . 00.
The mitigation of employees for this proposed expansion are so
minimal that proposing to have the Applicant provide housing as
opposed to the payment-in-lieu fee are found to be unacceptable.
STAFF RECOMMENDATION: Staff recommends the approval of a
payment-in-lieu fee for . 83 middle income employees of $12 , 450 . 00 .
The payment-in-lieu fee shall be indexed to the guidelines in
effect at the time of issuance of building permit.
E NC E INC
June 23, 1990
Yvonne Blocker
Pitkin Cnty rousing Authority
Aspen, CO 81611
Dear Yvonne,
Pursuant to our telephone conversation, I am writing to
clarify the use of space for our proposed expansion at 715
West Main Street, Aspen. I hope this will be helpful to you
in determining the employee cash in lieu fee for our
project.
As I briefly outlined in our conversation, the space we are
adding is largely for the purpose of expanding the offices
of three of our executives: Steve Vance, Warren F. Ryan and
myself. All three of us have incomes in excess of $75, 000
per year. Also, all three of us own our own homes here in
the valley.
If you have any further questions about our project or need
further clarification, please call me at my office (303)
925-5890. If I am not available,: please feel free to
discuss this matter with Warren F. Ryan (303) 925-5889 .
Sincerely,
Sc t a ' ger
President
SB:ph
cc: Warren F. Ryan
715 WEST MAIN STREET, ASPEN, COLORADO 81611 • 303/925-5890 • 800-541-2350 • FAX 303/925-2408
MEMORANDUM
TO: Aspen Planning and Zoning Commission
FROM: Leslie Lamont, Planning
RE: Ryanco GMQS Exemption for an Expansion of Floor Area
DATE: June 19, 1990
SUMMARY: The applicant seeks to add net leasable floor area to
an existing office building. This is a GMQS Exemption review by
the Planning and Zoning Commission.
Staff recommends approval with conditions.
APPLICANT: Ranch Partners, Ltd c/o Warren Ryan, General Partner
LOCATION: 715 West Main Street, Lots D,E, and F Block 19
ZONING: Office
APPLICANT'S REQUEST: GMQS Exemption for the enclosure of
approximately 463 square feet.
REFERRAL COMMENTS: The HPC reviewed this application at their
June 13 meeting. They approved a revised proposal allowing an
enclosure of both porches. The materials must be glass to
achieve transparency. Revised elevations are to be submitted to
staff within one week.
PROJECT DESCRIPTION: The applicant's propose to enclose two
porches on the front of the building and a small light/air hole
for a subtotal of 262 square feet. They also request to enclose
the floor of the two story atrium adding another 201 square feet.
The additional square footage is a total of 463 square feet.
STAFF COMMENTS: Pursuant to Section 8-104 B. 1 (a) , a development
may be exempt from GMP by the Commission if a commercial or
office expansion is not more than 500 net leasable square feet.
The applicant must demonstrate that the expansion will have a
minimal impact upon the City. The applicant must:
a. mitigate employees generated by the expansion
RESPONSE: According to the Housing Guidelines, the employee
generation rate in the office zone is 3 employees/1000 square
feet net leasable. 60% of the employees generated shall be
mitigated which is approximately: .83 employees.
b. provide parking for the expansion
SPONSE: There are 10 spaces on site. In 1981 a reduction in
parking was allowed reducing the required 3 spaces/1000 sq. ft. -
to 1. 5 space/1000 sq. ft. No more parking could be accommodated
on site, the applicant may provide a payment in lieu which equals
$15, 000 per space required. The expansion of 463 sq. ft. will
require $6945.
c. minimalize the visual impact
RESPONSE: The HPC agreed unanimously that the proposal as
submitted did impact the character of both the building and the
Main Street Historic District. Therefore the HPC is requiring a
transparent solution to the porch enclosures.
d. minimalize the demand placed on the City' s public facilities
RESPONSE: This expansion should not impact any of the City' s
services.
RECOMMENDATION: Staff recommends approval of the GMQS Exemption
for the expansion of 463 square feet with the following
conditions:
1. Prior to the issuance of a building permit, the applicant
shall mitigate .83 employees either with a payment in lieu or
with the provision of deed restricted housing. The applicant
shall make the payment in lieu to the Housing Authority or file a
deed restriction to be reviewed and approved by the Housing
Authority for an employee unit.
2. Expansion that occurs in phases shall be limited to a maximum
cumulative total of 500 square feet net leasable.
Prior to the issuance of a building permit the applicant
all make a one time payment of $6945 to the City of Aspen for
aa .king Impact Development Fee account #14000000063050.
-
• i- I
2 if
• ATTACHMENT 1
• LAND USE APPLICATION nor
1) Project Name `71 7 LA.1 . MAW - 12 E 11/ D P E L-
2) Project location ? / LA-) . A/1. A f /J
(indicate_ street address, lot & block number, legal dner iption where
appropri. `,e)
3) Present Zoning C) 4) lot Size a C)0 0 /
5) Applicant's Name, Address & Phone $ �q L7b
20 / 41 JY7ILL 5T. s- 'Tc /G3 /ASPOEN C4 6 3c3- fz S- 1'4!015$7
/1/o, )CX'sCI a 6oto4A00 Lin'/rE0 PAPTA/Cie_cH1P, 6.JAR-PEN F. KYgN 6E, ELAL ft
6) Representative's Name, Address & Phone # J 0 fl A) £ • Lt. L DO/dl
G/ /a C . 4-11/11 A /J 5 0.) ) o 2- k 5 r°EA)
`✓ o
7) Type of Application (please check all that apply) :
Conditional Use Conceptual SPA Conceptual Historic Dev.
Special Review _ Final SPA Final Historic Dev.
8040 Greenline Conceptual PUD Minor Historic
Stream Margin Final PUD _ Historic Demolition
Mountain View Plane Subdivision Historic Designation
Condcn i n i umi zation Text/Map Anend ent _ (;QS Allotment
rot Split/lot Line Q Domption
•
Adjustment •
8) Description of Existing rn Uses (number and type of edstirg structures;
dares;
approximate sq. ft.; number of bedrooms; any previous approvals granted to the
property) .
F- e- a — 1 8/ 5- 5- 1/ c6
P Ek Roc) (/Aii_ I A /9 /, ,t 1 ice/
9) Description of Development Application
( ��e jy-42-0 r �,. �/z�e t — 2`7/
2 n l P
10) HavVyou attached the following? `T
&e /C Response to Attachment 2, Minimum Submission Contents
1.<, Response to Attadment 3, Specific Sut mission Contents
z/ Response to Attachment 4, Review Standards for Your Application
MAY - 8 1990
MEMORANDUM
TO: Zoning Administration
FROM: Leslie Lamont, Planning
RE: Ryanco Partners GMQS Exemption
DATE: May 22 , 1990
Attached for your review and comments is an application from John
Wedum on behalf of Ryanco Partners requesting GMQS Exemption for
expansion of commercial square footage.
Please return your comments to me no later than June 1, 1990.
Thank you.
•
•
ASPEN/PITKIN PLANNING OFFICE
130 S. Galena Street
Aspen, Colorado 81611
(303) 920-5090
May 14, 1990
Randy Wedum
Wedum-Vonbrewer & Associates
616 Hyman Avenue, Suite 102
Aspen, CO 81611
Re: Ryanco Partners, Ltd. GMQS Exemption
Dear Randy,
This is to inform you that the Planning Office has completed its
preliminary review of the captioned application. We have
determined that this application is complete. HPC needs to
review the Conceptual Development application before the
Commission reviews the GMQS Exemption application. We will
schedule a date before the P&Z as soon as we know when the HPC
date is.
Sincerely,
I
I '
Debbie Skehan
;7)Administrative Assistant 1
f� Glib 0 et-
0 ipir
ti
r
thy/2
715 WEST MAIN STREET MINOR DEVELOPMENT PERMIT APPLICATION
Addressing Attachment 2 - Paragraph 5
The new owners of 715 West Main Street wish to remodel the build-
ing to accommodate their needs. We are addressing the enclosing
of two balconies containing approximately 241 square feet. We
also anticipate closing off a two-story atrium for about 225
square feet. This gives a total of 463 square feet, which is
already roofed over . This, however, does increase the net leas-
able by 463 square feet. We are submitting a Minor Development
Application to the Planning & Zoning Commission for sign-off .
Part of the space being added is interior, which is not visible to
the public. The existing balconies which are roofed over are just
going to be enclosed in glass . It is a minor impact to the
neighborhood.
•
715 WEST MAIN STREET MINOR DEVELOPMENT PERMIT APPLICATION
Addressing Attachement 3 - Paragraph 4
The building that exists now was built in 1981 . It incorporated
in its design an existing building of a one-story miner 's shack,
which is shown on the plans as the left side of the building, hav-
ing a gable with the porch to its left. The whole building was
new construction and only the design element of the one bay was
incorporated to reflect the existing previous structure. Enclos-
ing of the decks "A" and "C" are not part of the original struc-
ture but only part of the new design of the building constructed
in 1981 . As this building is in an H-overlay zone , that is the
reason for this application.
715 WEST MAIN STREET MINOR DEVELOPMENT PERMIT APPLICATION
Addressing Attachment 4
Item B: The design of the existing building, built in 1981 , is
Victorian in nature. Enclosing of the balconies is mainly just
removing some railing under, basically, a four foot section in
three different places and replacing the siding to match the
original . Other than that, the visual impact will be virtually
the same as the upper portion just being enclosed in glass . No
new construction will be done. The remaining square footage will
be incorporated into the usable office space as interior and not
visible to the public. As you can see by the elevations , the
addition of the closing of the balconies is a minor impact to the
visual affect of the neighborhood on this building .
Addressing Item C, it does not change the cultural value of the
designated historic structure as it is not an historical structure
to begin with and it does not impact the neighborhood of the adja-
cent parcel .
Dealing with Item D, as stated earlier, it does not diminish or
retract from the architectural integrity as it is not an historic
structure; but it does not change dramatically the architectural
character of the existing building.
JRW:A2Z
5/4/90
Ar
vY
CITY OF ASPEN
PW-APPLICATION CONFERENCE SUMMARY
PROJECT:
1t ' Ono,..--(_/V\
APPLICANT'S REPRESENTATIVE: K 0-v..,L_t.1 VU QLLVt_.
REPRESENTATIVE'S PHONE:
OWNER'S NAME: 6 c rm* 100,0,
t
SUMMARY
1. Type of Application: C' it Li-l. A A_ .. A ,.._ _ 0 " .
2 . Describe action/type of development being requested:
( 1
---t& , (Xi-/ fl tiA et, Ci `'tuG-. ctx € -<t
3 . Areas is which Applicant has been requested to respond,
types of reports requested:
Policy Area/
Referral Agent Comments
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4. Review is:C_CP_&_Z Only (CC Only) (P&Z then to CC)
5. Public Hearing: (YES) (NO)
6. Number of copies of the application to be submitted:2
Oar'7 . What fee was applicant requested to submit: 7ZSL_,
8 . Anticipated date of submission:
9. COMMENTS/UNIQUE CONCERNS: V\SC . t n6 . Q
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RYANCO , INC . 4(0-002
JEROME PROFESSIONAL BUILUINU
201 NORTH MILL STREET
WARREN F.RYAN SUITE 106 TELEPHONE 303.925.5889
PRCSUETJI ASPEN,COI ORAIX)81611 FACSIMILE 303-925-5663
May 4, 1990
Aspen City Hall
Planning and Zoning Department
130 S. Galena
Aspen, CO 81611
Dear Sir:
Pursuant to Attachment 2 of the Procedure for Minimum Submission
Contents for all Development Applications, we submit the following:
1 . Applicants name, address, telephone number :
Ryanco Partners, Ltd. No. XXXI, a Colorado
limited partnership, Warren F. Ryan, General
Partner. Address: 201 N. Mill Street, Suite
103, Aspen, CO 81611
(telephone: 303-925-5889) .
2 . Address and legal description of parcel : 715
West Main Street, Aspen, CO 81611
(telephone: 303-925-5890) . Lots D, E and F,
Block 19, City and Township of Aspen, County
of Pitkin, State of Colorado.
3 . Applicant's designated representatives: Scot
Barringer, 715 West Main Street, Aspen, CO
81611 (telephone 303-925-5890) . Randy Wedum
WEDUM-VONBREWER & ASSOCIATES, Architects, 616
Hyman Avenue, Suite 102, Aspen, CO 81611
(telephone: 303-925-1961) .
4. Disclosure of ownership of parcel: See
enclosed Title Policy.
Planning and Zoning Department
May 4, 1990
Page Two
I certify that the abov, s true and correct, to the best of my
knowledge, and th. I am the General Partner and have full
authority to ac .n behalf of the Partnership.
Si. e ely,
/
Warren F. Ryan President
and General Partner
Ryanco Partners, Ltd. N. . XXXI
WFR/lo
Enclosures
cc: Scot Barringer
ISSUED BY
la OMMONWEALTH a POLICY NUMBER
C
LAND TITLE INSURANCE C O M P A N Y 12 8 - 015 482
A Reliance Group Holdings Company
OWNER'S POLICY OF TITLE INSURANCE
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B
AND THE CONDITIONS AND STIPULATIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Pennsylvania
corporation, herein called the Company,insures,as of Date of Policy shown in Schedule A,against loss or damage, not exceeding the Amount
of Insurance stated in Schedule A,sustained or incurred by the insured by reason of:
I. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs,attorneys'fees and expenses incurred in defense of the title,as insured,but only to the extent provided
in the Conditions and Stipulations.
IN WITNESS WHEREOF, COMMONWEALTH LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be
hereunto affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the
Company.
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Attest: By:
Np11TlF„
�� y� 371
9
W
-
Secretary 20 President
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage,costs,attorneys'
fees or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations)
restricting,regulating,prohibiting or relating to(i)the occupancy,use,or enjoyment of the land;(ii)the character,dimensions or location of
any improvement now or hereafter erected on the land;(iii)a separation in ownership or a change in the dimensions or area of the land or
any parcel of which the land is or was a part; or(iv)environmental protection,or the effect of any violation of these laws, ordinances or
governmental regulations,except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting
from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a
defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date
of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding
from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without
knowledge.
3. Defects, liens,encumbrances,adverse claims or other matters:
(a)created, suffered,assumed or agreed to by the insured claimant;
(b) not known to the Company,not recorded in the public records at Date of Policy,but known to the insured claimant and not disclosed
in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(c)resulting in no loss or damage to the insured claimant;
(d)attaching or created subsequent to Date of Policy;or
(e)resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured
by this policy.
1-4 aka
NM 1
ALTA Owner's Policy(10-21-87) Valid Only If Schedule A, B and Cover Are Attached
Face Page
ItaCOMMONWEALTh
LAND TITLE INSURANCE COMPANY
A Relimxe Gimp Holdings Company
SCHEDULE A-OWNER'S POLICY
CASE NUMBER DATE OF POLICY AMOUNT OF INSURANCE POLICY NUMBER
PCT-4422 3/30/90 @ 9:23 A.M. $ 1,200,000.00 128-015482
1 . NAME OF INSURED:
RYANCO PARTNERS, LTD. , NO. XXXI , A COLORADO LIMITED PARTNERSHIP
2. THE ESTATE OR INTEREST IN THE LAND HEREIN AND WHICH IS COVERED BY THIS POLICY IS:
IN FEE SIMPLE
3. THE ESTATE OR INTEREST REFERRED TO HEREIN IS AT DATE OF POLICY VESTED IN:
RYANCO PARTNERS, LTD. , NO. XXXI, A COLORADO LIMITED PARTNERSHIP
4. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS:
LOTS D, E AND F, BLOCK 19, CITY AND TOWNSITE OF ASPEN, COUNTY OF PITKIN, STATE OF
;OLORADO.
PITKIN COUNTY TITLE, INC.
A/ U, .,,1 , / 601 E. HOPKINS AVE.
Cr ntersigned A,thorized Agent ASPEN, COLORADO 81611
(303) 925-1766
THE POLICY NUMBER SHOWN ON THIS SCHEDULE MUST AGREE WITH THE PREPRINTED NUMBER ON THE
COVER SHEET.
COMMONWEALTF
LAND TITLE INSURANCE COMPANY
A Reliance Gory Holdings Company
SCHEDULE B-OWNERS
CASE NUMBER DATE OF POLICY POLICY NUMBER
PCT-4422 3/30/90 @ 9:23 A.M. 128-015482
THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASON OF THE FOLLOWING:
1 . Rights or claims of parties in possession not shown by the public records.
2. Easements, or claims of easements, not shown by the public records.
3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any
facts which a correct survey and inspection of the premises would disclose and which
are not shown by the public records.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereto-
after furnished, imposed by law and not shown by the public records.
5. Unpatented mining claims, reservations or exceptions in patents or,in Acts authoriz-
ing the issuance thereof; water rights, claims or title to water.
6. Taxes for the year 1990 not yet due or payable.
7. Reservations and exceptions as contained in the Deed from The City of Aspen,
recorded December 28, 1887 in Book 59 at Page 215 as follows:
"Provided, that no title shall be hereby acquired to any mine of gold, silver,
cinnabar or copper or to any valid mining claim or possession held under existing
laws. "
8. Terms, provisions, burdens and obligations as contained in Ordinance No. 69 (Series
of 1976) in Record of Proceedings designating subject property as a Historic
District recorded December 9, 1975 in Book 321 at Page 51 .
9. Any and all existing Leases and Tenancies.
10. Terms, conditions, restrictions, reservations, obligations and provisions of
Ordinance No. 2 (Series of 1989) by The Aspen City Council Zoning The Block 19
Annexation Area R-6 in the City of Aspen, as set forth in instrument recorded
January 10, 1990 in Book 611 at Page 596.
11. Deed of Trust from : RYANCO PARTNERS, LTD. , NO. XXXI , A COLORADO LIMITED PARTNERSHIP
To the Public Trustee of Pitkin County
For the use of : ALPINE BANK, ASPEN
To secure : $700,000.00
Dated : MARCH 30, 1990
Recorded : MARCH 30, 1990 IN BOOK 617 AT PAGE 173
Reception No. : 321323
EXCEPTIONS NUMBERED 1, 2, 3 & 4 ARE HEREBY OMITTED.
C
siaCOMMONWEALTH
LAND TITLE INSURANCE COMPANY
A Reliance Gary Holdings Company
ENDORSEMENT FORM 100.29
ATTACHED TO AND MADE A PART OF COMMONWEALTH LAND TITLE INSURANCE COMPANY
NO. 128-015482 PCT-4422
The Company insures the Insured against loss which the Insured shall sustain by reason
of damage to existing improvements, including lawns, shrubbery or trees, resulting from
the exercise of any right to use the surface of said land for the extraction or
development of the minerals excepted from the description of said land or shown as a
reservation in Schedule B.
This endorsement is made a part of the policy or commitment and is subject to all the
terms and provisions thereof and of any prior endorsements thereto. Except to the extent
expressly stated, it neither modifies any of the terms and provisions of the policy or
commitment and prior endorsements, if any, nor does extend the effective date of the
policy or commitment and prior endorsements or increase the face amount thereof.
IN WITNESS WHEREOF, the Company has caused this Endorsement to be signed and sealed and
to be valid when countersigned by an authorized officer or agent of the Company, all in
accordance with its By-Laws.
ISSUED AT PITKIN COOUTY TITLE, INC. , 601 . HOPKINS AVE. , ASPEN, COLORADO 81611
�
COUNTERSIGNED vim'///./// //
AU ' ORIZED OFFI• R OR AGENT
DATED:3/30/90 @ 9:23 A.M.
CONDITIONS AND STIPULATIONS
•
•
(Continued)
• T. DETERMINATION, EXTENT OF LIABILITY)JID COINSURANCE. (b)When liability and the extent of loss or damage has been definitely
This policy is a contract of indemnity against actual monetary loss or fixed in accordance with these Conditions and Stipulations, the loss or
damage sustained or incurred by the insured claimant who has suffered loss damage shall be payable within 30 days thereafter.
or damage by reason of matters insured against by this policy and only to 13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
the extent herein described.
(a) The liability of the Company under this policy shall not exceed the
(a)The Company's Right of Subrogation.
least of: Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by
(i)the Amount of Insurance stated in Schedule A; or, any act of the insured claimant.
(ii)the difference between the value of the insured estate or interest as The Company shall be subrogated to and be entitled to all rights and
insured and the value of the insured estate or interest subject to the defect, remedies which the insured claimant would have had against any person or
lien or encumbrance insured against by this policy. property in respect to the claim had this policy not been issued. If
(b) In the event the Amount of Insurance stated in Schedule A at the requested by the Company, the insured claimant shall transfer to the
Date of Policy is less than 80 percent of the value of the insured estate or Company all rights and remedies against any person or property necessary
interest or the full consideration paid for the land, whichever is less, or if in order to perfect this right of subrogation. The insured claimant shall
subsequent to the Date of Policy an improvement is erected on the land permit the Company to sue, compromise or settle in the name of the
which increases the value of the insured estate or interest by at least 20 insured claimant and to use the name of the insured claimant in any
percent over the Amount of Insurance stated in Schedule A, then this transaction or litigation involving these rights or remedies.
Policy is subject to the following: If a payment on account of a claim does not fully cover the loss of the
(i)where no subsequent improvement has been made,as to any partial insured claimant, the Company shall be subrogated to these rights and
. loss, the Company shall only pay the loss pro rata in the proportion that remedies in the proportion which the Company's payment bears to the
the amount of insurance at Date of Policy bears to the total value of the whole amount of the loss.
insured estate or interest at Date of Policy; or If loss should result from any act of the insured claimant, as stated
(ii) where a subsequent improvement has been made, as to any partial above, that act shall not void this policy, but the Company, in that event,
loss, the Company shall only pay the loss pro rata in the proportion that shall be required to pay only that part of any losses insured against by this
120 percent of the Amount of Insurance stated in Schedule A bears to the policy which shall exceed the amount, if any, lost to the Company by
sum of the Amount of Insurance stated in Schedule A and the amount reason of the impairment by the insured claimant of the Company's light
expended for the improvement. of subrogation.
The provisions of this paragraph shall not apply to costs, attorneys' fees (b)The Company's Rights Against Non-insured Obligors.
and expenses for which the Company is liable under this policy, and shall The Company's right of subrogation..against non-insured obligors shall
only apply to that portion of any loss which exceeds, in the aggregate, 10 exist and shall include, without limitation, the rights of the insured to
percent of the Amount of Insurance stated in Schedule A. indemnities, guaranties, other policies of insurance or bonds,
(c) The Company will pay only those costs, attorneys' fees and expenses notwithstanding any terms or conditions contained in those instruments
incurred in accordance with Section 4 of these Conditions and Stipulations. which provide for subrogation rights by reason of this policy.
8. APPORTIONMENT. 14. ARBITRATION
If the land described in Schedule A consists of two or more parcels Unless prohibited by applicable law, either the Company or the insured
which are not used as a single site,and a loss is established affecting one or may demand arbitration pursuant to the Title Insurance Arbitration Rules
more of the parcels but not all, the loss shall be computed and settled on a of the American Arbitration Association. Arbitrable matters may include,
pro rata basis as if the amount of insurance under this policy was divided but are not limited to,any controversy or claim between the Company and
—, pro rata as to the value on Date of Policy of each separate parcel to the the insured arising out of or relating to this policy, any service of the
whole, exclusive of any improvements made subsequent to Date of Policy, Company in connection with its issuance or the breach of service policy
unless a liability or value has otherwise been agreed upon as to each parcel provision or other obligation. All arbitrable matters when the Amount of
by the Company and the insured at the time of the issuance of this policy Insurance is$1,000,000 or less shall be arbitrated at the option of either the
and shown by an express statement or by an endorsement attached to this Company or the insured. All arbitrable matters when the Amount of
policy. Insurance is in excess of$1,000,000 shall be arbitrated only when agreed to
9. LIMITATION OF LIABILITY. by both the Company and the insured. Arbitration pursuant to this policy
(a) If the Company establishes the title, or removes the alleged defect, and under the Rules in effect on the date the demand for arbitration is
lien or encumbrance, or cures the lack of a right of access to or from the made or, in at the option the the ies. T insured, the Rules in include at Date y ' fees
land, or cures the claim of unmarketability of title, all as insured, in a shall be binding upon the parties. The award may include attorneys' fees
reasonably diligent manner by any method, including litigation and the only if the laws of the state in which the land is located permit a court to
completion of any appeals therefrom, it shall have fully performed its award attorneys' fees to a prevailing party. Judgment upon the award
obligations with respect to that matter and shall not be liable for any loss rendered by the Arbitrators) may be entered in any court having
or damage caused thereby. jurisdiction thereof.
(b) In the event of any litigation, including litigation by the Company The law of the situs of the land shall apply to an arbitration under the
or with the Company's consent, the Company shall have no liability for Title Insurance Arbitration Rules.
loss or damage until there has been a final determination by a court of A copy of the Rules may be obtained from the Company upon request.
competent junsdiction, and disposition of all appeals therefrom, adverse to 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
the title as insured. CONTRACT.
(c)The Company shall not be liable for loss or damage to any insured
for liability voluntarily assumed by the insured in settling any claim or suit (a) This policy together with all endorsements, if any, attached hereto
without the prior written consent of the Company. by the Company is the entire policy and contract between the insured and
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION the Company. In interpreting any provision of this policy, this policy shall
be construed as a whole.
OF LIABILITY. (b) Any claim of loss or damage, whether or not based on negligence,
All payments under this policy, except payments made for costs, and which arises out of the status of the title to the estate or interest
attorneys' fees and expenses, shall reduce the amount of the insurance pro covered hereby or by any action asserting such claim, shall be restricted to
tanto. this policy.
11. LIABILITY NONCUMULATIVE. (c) No amendment of or endorsement to this policy can be made
except by a writing endorsed hereon or attached hereto signed by either the
It is expressly understood that the amount of insurance under this policy President, a Vice President, the Secretary, an Assistant Secretary, or
shall be reduced by any amount the Company may pay under any policy validating officer or authorized signatory of the Company.
insuring a mortgage to which exception is taken in Schedule B or to which 16. SEVERABILITY.
the insured has agreed, assumed, or taken subject, or which is hereafter
executed by an insured and which is a charge or lien on the estate or In the event any provision of the policy is held invalid or unenforceable
interest described or referred to in Schedule A, and the amount so paid shall under applicable law, the policy shall be deemed not to include that provi-
f.---. be deemed a payment under this policy to the insured owner. sion and all other provisions shall remain in full force and effect.
12. PAYMENT OF LOSS. 17. NOTICES, WHERE SENT.
(a) No payment shall be made without producing this policy for All notices required to be given the Company and any statement in
endorsement of the payment unless the policy has been lost or destroyed,in writing required to be furnished the Company shall include the number of
which case proof of loss or destruction shall be furnished to the satisfaction this policy and shall be addressed to Commonwealth Land Title Insurance
of the Company. Company, Eight Penn Center, Philadelphia, Pennsylvania 19103-2198.
NM I
American Land Title Association Owner's Policy(10-21-87)
Cover Page Valid (Ink If Fare Page Srhedulec A and R Are Attarhed
a COMMONWEALTH
lAND TITLE INSURANCE COMPANY
A Reliaixe Gioup Holdings Company
COMMITMENT OR BINDER ENDORSEMENT
RE: MAIN STREET/ RYANCO PARTNERS
Commitment/Case No . PCT-4422 C4
The Commitment or Binder in the above matter is hereby amended in the
following respects:
Endorsement FORM 100 .29 will be issued for a fee of $254 .30
And on completion of the following:
A satisfactory affidavit and agreement indemnifying the Company
against unfiled mechanics ' and materialmens liens executed by the
persons indicated must be furnished to the Company , together with
any additional premium required by the filed rates of the
Company .
Current survey , certified by a Registered Colorado Land Surveyor
must be delivered to and approved by the Company . ■ �µ+✓"
Items numbered 1 , 2 , 3 and 4 of Schedule B Section 2 will be deleted
from the Owners/Mortage Policy when issued .
The total liability of the Company under said commitment or binder
under this and any prior endorsements thereto shall not exceed , in the
aggregate , the amount of liability stated on the face of said
commitment or binder as the same may be specifically amended in dollar
amount by this or any prior endorsements , and the costs which the
Company is obligated to pay under the Conditions and Stipulations of
the policy committed for by said commitment or binder .
This endorsement is made a part of said commitment or binder and is
subject to the schedules , terms , Conditions and Stipulations therein
and in the policy committed for , except as modified by the provisions
hereof .
Nothing herein contained shall be construed as extending the effective
date of the aforesaid commitment or binder unless otherwise expressly
stated .
IN WITNESS WHEREOF , the Company has caused this Endorsement to be
signed and sealed as of the 29th day of March 1990 , to be valid when
countersigned by an authorized officer or agent of the Company , all in
accordance with its By-Laws .
Issued at: PITKIN COUNTY TITLE , INC .
601 E . HOPKINS
ASPEN , CO . 81611
303-925-1766
COUNT RSIG ED: 1 COMMONWEALTH LAND TITLE INSURANCE COMPANY
Authorized Agent
COMMONWEALTH
LAND Wr7�
LAND TITLE INSURANCE COMPANY
A Rehaiwe Gout/HWAmgs Company
COMMITMENT OR BINDER ENDORSEMENT
RE: MAIN STREET/ RYANCO PARTNERS
Commitment/Case No . PCT-4422 C4
The Commitment or Binder in the above matter is hereby amended in the
following respects:
Endorsement FORM 100 .29 will be issued for a fee of $254 .30
And on completion of the following:
A satisfactory affidavit and agreement indemnifying the Company
against unfiled mechanics ' and materialmens liens executed by the
persons indicated must be furnished to the Company , together with
any additional premium required by the filed rates of the
Company .
Current survey , certified by a Registered Colorado Land Surveyor
must be delivered to and approved by the Company .
Items numbered 1 , 2 , 3 and 4 of Schedule B Section 2 will be deleted
from the Owners/Mortage Policy when issued .
The total liability of the Company under said commitment or binder
under this and any prior endorsements thereto shall not exceed , in the
aggregate , the amount of liability stated on the face of said
commitment or binder as the same may be specifically amended in dollar
amount by this or any prior endorsements , and the costs which the
Company is obligated to pay under the Conditions and Stipulations of
the policy committed for by said commitment or binder .
This endorsement is made a part of said commitment or binder and is
subject to the schedules , terms , Conditions and Stipulations therein
and in the policy committed for , except as modified by the provisions
hereof .
Nothing herein contained shall be construed as extending the effective
date of the aforesaid commitment or binder unless otherwise expressly
stated .
IN WITNESS WHEREOF , the Company has caused this Endorsement to be
signed and sealed as of the 29th day of March 1990 , to be valid when
countersigned by an authorized officer or agent of the Company , all in
accordance with its By-Laws .
Issued at: PITKIN COUNTY TITLE , INC .
601 E . HOPKINS
ASPEN , CO . 81611
(". 303-925-1766
COUNT RSIGNED: AP COMMONWEALTH LAND TITLE INSURANCE COMPANY
4214 .12.
Aut orized Agent
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