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Home My WebLink AboutLand Use Case.330 E Main St.0025.2012.ASLU0025.2012.ASLU 330 E. MAIN ST ' ~ 2737 07 3 21 001 11 INSUBSTANTIAL PUD AMENDMENT JEROME PROPERTY, LLC . jan--4 -lia--- U 1 1 7 VANN ASSOCIATES, LLC Planning Consultants July 6, 2012 HAND DELIVERED Ms. Sara Adams Aspen Community Development Department 130 South Galena Street Aspen, CO 81611 Re: Hotel Jerome Presidential Suite Dear Sara: Enclosed herewith are two drawings depicting the proposed Hotel Jerome Presidential Suite. Sheet A-PS-2.04 depicts the Suite and its furnishings. Sheet A2.31 depicts the Suite's location within the original Hotel Jerome building. The Suite consists of hotel rooms 303 and 304, and eliminates one of the Hotel's approved keys. The revised key count, therefore, is 93 keys as opposed to 94. As the Hotel's approved key count is a maximum as opposed to a minimum, formal approval to create the proposed Suite is not believed to be required. The Community Development Department's confirma- tion as to the ability to reconfigure rooms 303 and 304 as proposed, however, would be appreciated. Should you have any questions, or require additional information, please do not hesitate to call. Yours truly, VAN/ASSOCIATES, LLC APPROVED: Â¢ ifAÂ®444 Q bUI pv ann 01*is Bendon, Director sicwv Enclosures d:\oldc\bus\city.Ltr\ltr57811. sa2 RO. Box 4827 Â· Basalt, Colorado 81621 Â· 970/925-6958 Â· Fax 970/920-931 RECEIVED vannassociates@comcast.net JUL 0 6 2012 CITY OF AbytN COMMUNITY DEVELOPMEN 8/. TILE L.Ar bgrETIi-1-~ DESK CHAIR rowland + broughton C 01)[-1Ul-1 TH AA I 173 <01) Irchitacture and 'bon de/gn DESK ARTWORK 3"J':' ... / 10'CS 23~i.~0~Nit ~WW~,*L106 rrET;.-1(01) 301,OB.... *BED %,44311â€ž, ;....13/, OTTOâ€¢/IN ~ LF lie (02) LOUNIGECHAIA I REAO~GLÂ»Il. 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I 1 M. 702.108=01 . m -- ILL= A 00 8 . 1 -49 L.lid...1_1 19 r i: fe â‚¬3/!1 &21 B p e< n el Â¤Â¤ ---- --- 1 - EL-21 / i M ' lie - 01.11.2012 ~1â‚¬11 â‚¬1 1 SC,â‚¬'ATIC DE'KN.ACK,1,02 '- o n 02,5.2012 ./9 ....DEvaol/Nr,NOGRESSUP.. 114. 4 1 03/8.2012 11 DEÂ®oN 'EVELOPMENT PACKAOE 05.01.2012 B Calgp. " C[,hEm........... U L L.MU 1 <all . 4*J< 00 PACKAOE 05 1.2012 1 .1. 11 0 A 0019.2012 LJ .D. CONITRUCTICIOOCUMFNTS v el c W L-* 1 Eli, W gzz. 0 U= 4 - - _ _ _- a *t -8 1 1 1 1 2 11 C= 11 e~ 6%.1 1,1 1 11 11 1~el Ee 11 0 1, .0. .... c. , _@ HOTEL JEROME REMODEL el NIM~ 6 8% r IQK Â¥ f:==- -1 --- -1 g= 330 E. MAIN STREET AN= A" . 4 APEN, CO 61611 VAC~==m c===- 2-2 --- 1,X<1:1*=1 KE4 W e. 2 6 9 1 0 4 7 0 =IL,3 - ,___1/1 D = el ~ #3 g] A ~e Cl PMO,ECTNO: 21= --- CÂ»90'U â‚¬eee 8- 2- & 2- & 2- & 1 1 8. 1 1 -8 211.-1- Â®eee IMET TTM PROPOSED - ENTRY CA)OPY LEVEL 3 PARTIAL C--7 PROPOSED ~ ~- BELOW FLOOR PLAN 1 '\ LEVEL 3 PARTIAL FLOOR PLAN ' SCALE: 3/16Â· â€¢ 1'-0Â· A2.31 ES=ZMJESE' 6 9 A A te * A R A G THE CITY OF ASPEN City of Aspen Community Development Department CASE NUMBER 0025.2012.ASLU PARCEL ID NUMBERS 2737 07 3 21 001 PROJECTS ADDRESS 330 E MAIN ST PLANNER SARA ADAMS CASE DESCRIPTION INSUBSTANTIAL AMENDMENT REPRESENTATIVE SUNNY VANN DATE OF FINAL ACTION 4.27.12 CLOSED BY ANGELA SCOREY ON: 8.30.12 27 37 Â·03 ,-3 - 24 - Â£DO C 00230 2-Â©C k Â· ASLul ' '' 9 JJ J L -. â€¢ 1â€¢. Elle Edit Record NavigaW Fgrm Repor# Format Iab Be# li @@ >x > 4 -43 4311 FiÂ® 3 0 dÂ·1 i N i > Di = 111 Jumo Elil ?0 li 0'61 i_]t] i]J 3 j #~ .3/ 1 U .191 Routing Status |Feei |Fee SummarY ~ Actions |Attachments |Routhg *tory i Yaluation | ArchIEng ~Custom Fields j5ub Bermits IParcels I ,- 1 . - Pemittype aslu 4 IAspen Land Use Permit # 0025.2012ASUJ 1 - 1 ....I~ t Address ~~d. Â·Â·Â· Apt/5uite ~ Cky ASPEN 5tate ~-I~ Zip 81611 "Â· Permit Information Master permit ... Routing queue aslu07 Applied 4/12j2012/ Project Â·Â·Â· Status pending Approved * Description APPLICATION FOR HOTEL JEROME INSUBSTANTIAL PUD AMENDMENT - BILLING WILL Issued ~ BE HOURLY PER SARA ADAMS-** NO FEES PAID ON SUBMITTAL OF LUC** ~ j THIS IS A CONTINUATION FROM PERMIT N[IMBER 0005.2012.ASLU Cbsed#Final * 19' Submitted SUNNY VANN 925 6958 Clock ~*] Days ~ Expires 422013 v 0 Submjtted via v 25*6 ,{1 Owner ;Eft. -P 4If 2 Last name JEROME PROPERTY, LLC Â·Â·Â· First name # #40 W HANSON %AGO 1 961 - ~ Phone ~312) 542-1030 Address ~ 1 Il Owner is applicant? 0 Contractor k applicant? ~ Last name VANN & ASSOCIATES Â·Â·Â· First name ~i | ~230 E HOPKINS AVE |ASPEN CO 81611 1 Phone ~970) 925-6958 Cust # 25499 Â·Â·' Address / 1 :' Lender 4 Last name ~ Â·Â· First name - 1~ 4% Phone (1 - Address ~ Â«i>. 011 TI AspenGold5 (server] angelas Ecil 1 oIl .:i 140 925 PAN ed- SaÂ»vull~ Â· 2- Ce> fle,0 r se:ON '13'nel I xoqlooll I sdno,g qe,L~_ AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.070 AND CHAPTER 26.306 ASPEN LAND USE CODE ADDRESS OF PROPERTY: 330 â‚¬. Hal st , Aspen, CO STATE OF COLORADO ) ) SS. County of Pitkin ) I, 464 Se cy---1 (name, please print) being or representing an Applicant to the City of Aspen, Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) or Section 26.306.010 (E) of the Aspen Land Use Code in the following manner: l/~000" publication of notice: By the publication in the legal notice section of an official paper or a paper of general circulation in the City of Aspen at least fourteen (14) days after final approval of a site specific development plan. A copy of the publication is attached hereto. Publication of notice: By the publication in the legal notice section of an official Paper or a paper of general circulation in the City of Aspen no later than fifteen (15) days after an Interpretation has been rendered. A copy of the publication is attached hereto. Signature The foregoing "Affidavit of Notice" was acknowledged before me this l D day of 0,1 , 2012, by -An= 21:40 S C CÂ»_LLA , 1 ~ ~Â·?5'*' ~~ WITNESS MY HAND AND OFFICIAL SEAL F UNDAM. 1 1 :fÂ·.>CHING / My commission expires: 3 )79 /701 L C &3 , n 1/j- % 1 PUBLIC NOTICE Of Of f.xÂ»r (9Â«4 2~Ul,11 ~ Notice is hereby given to the general public of the DEVFLOPMENT APPROVAL approval of a ute-specific development plan, and My CommissM Expires 03/29/2014 LRotary Public the creation of a vested properly right pursuant to the Land Use Code of the City of Aspen and Title 24. Article 68, Colorado Revised Statutes, pertain- ing to the following described properly: Parcel ID #2737-073-21-001, Legally described as The Hotel Jerome, 330 East Mainl Street, Lots A - I, and Lots O - S, and the easterly 20 feet of Lot N and the ATTACHMENTS: easterly 170 feet of the vacated alley all in Block 79, City and Townsite of Aspen, Pitkin County, COPY OF THE PUBLICATION Colorado by an administrative approval by the Community Development Director. The applicant received an insubstantial amendment to Ordi- nance No. 42, Series of 2006. The approvals are depicted in the land use application on file with the City of Aspen. For further information contact Sa- ra Adams at the City of Aspen Community Devel- opment Dept. 130 S. Gatena St.,Aspen, Colorado. (970) 429-2778. City of Aspen Published in The Aspen Times Week/y on May 10, 2012.[7881648] DEVELOPMENT ORDER City of Aspen Community Development Department This Development Order, hereinafter "Order", is hereby issued pursuant to Section 26.304.070, "Development Orders", and Section 26.308.010, "Vested Property Rights", of the City of Aspen Municipal Code. This Order allows development of a site-specific development plan pursuant to the provisions of the land use approvals, described liciein. The effective-date-ofthis-Order--shalt-~ also be the initiation date of a three (3) -year vested property right. The vested property right shall expire on the day after the third anniversary of the effective date of this Order, unless the change is accomplished or a building permit is approved pursuant to Section 26.304.075, or unless an exemption, extension, reinstatement, or a revocation is issued by City Council pursuant to Section 26.308.010. After Expiration of vested property rights, this Order shall remain in full force and effect, excluding any growth management allotments granted pursuant to Section 26.470, but shall be subject to any amendments to the Land Use Code adopted since the effective date ofthis Order. This Development Order is associated with the property noted below for the site-specific development plan as described below. Property Owner's Name, Mailing Address and telephone number: Jerome Property, LLC, 540 West Madison, Chicago, IL 60661, (312) 542-1030. Legal Description and Street Address of Subiect Property: The Hotel Jerome, 330 East Main Street, Lots A-I and Lots O-S, and the easterly 20 feet of Lot N and the easterly 170 feet of the vacated alley all in Block 79, City and Townsite of Aspen, Colorado. Parcel ID#2737-073-21-001. Written Description of the Site Specific Plan and/or Attachment Describing Plan: Insubstantial PUD amendment to update the Planned Unit Development Agreement to memorialize the conditions of approval that the applicant has met. Land Use Approval Received and Dates: Administrative approval granted on April 27,2012 Effective Date of Development Order: May 10,2012. (Same as date of publication of notice of approval.) Expiration Date of Development Order: May 10,2015. (The extension, reinstatement, exemption from expiration and revocation may be pursued in accordance with Section 26.308.010 of the City of Aspen Municipal Code.) Issu.1 this 78 Aay of May 2012, by the City of Aspen Community Development Director. Chris Bendon Community Development Director City of Aspen AMENDMENT TO 2007 HOTEL JEROME PUD AGREEMENT THIS AMENDMENT TO 2007 HOTEL JEROME PUD AGREEMENT CAmended PUD Agreement") is madeandentered into this21- dayof A~kiL , 2012, byandbetween THE CITY OF ASPEN, COLORADO, a municipal corporation (hereinafter referred to as "City"), and JEROME PROPERTY, LLC, a Delaware corporation (hereinafter referred to as "Owner"). WITNESSETH: WHEREAS, Owner is the current owner of the Hotel Jerome, located at 330 East Main Street in Aspen, Colorado, said property being more particularly described as Lots A-I and Lots O-S and the Easterly 20 feet of LotNandthe Easterly 170 feet of the vacated alley, all in Block 79, City and Townsite of Aspen, Pitkin County, Colorado (the "Hotel Jerome Property"); and WHEREAS, Owner is the current owner ofthe Cortina Lodge, located at 220 and 230 East Main Street in Aspen, Colorado, said property being more particularly described as Lots P and Q, Block 73, City and Townsite of Aspen, Pitkin Colmly, Colorado (the "Cortina Lodge Property"); and WHEREAS, the prior owner of the Hotel Jerome Property was a party to the 2007 Hotel Jerome PUD Agreement recorded in the real property records of Pitkin County, Colorado on January 30,2007 at Reception No. 533928 c'2007 PUD Agreement"), which agreement granted the approval and recordation of a Hotel Jerome Final PUD Development Plan at Book 82 Pages 42-59 of the records of Pitkin County, Colorado along with related documents ("PUD Development Plan"); and WHEREAS, Owner has submitted to City an application for an insubstantial amendment of the 2007 PUD Agreement ("Application"), which Application requests the approval and recordation of amendments to the PUD Development Plan and related documents (collectively, the "Amended PUD Development Plan"); and WHEREAS, the Amended PUD Development Plan replaces the portions ofthe PUD Development Plan that are recorded at Book 82 at Pages 45-50 and Page 52 while leaving the remaining pages of the PUD Development Plan in tact; and WIIEREAS, City has fully considered the Application, the Amended PUD Development Plan, and the modifications to the proposed development and improvement of the Hotel Jerome Property, and has determined that the proposed amendments to the 2007 PUD Agreement and the Amended PUD Development Plan are consistent with the review criteria for an"insubstantial amendment" to a PUD agreement as set forth in the Aspen Municipal Code Section 26.445.100(A), with conditions; and WHEREAS, City has imposed certain conditions and requirements in connection with its approval of the Application and its approval and recordation of the Amended PUD Development Plan, such matters being necessary to protect, promote and enhance the public welfare; and RECEPTION#: 588636, 04/27/2012 at 02:37:34 PM, 1 OF 7, R $41.00 Doc Code AMENDMENT Janice K. Vos Caudill, Pitkin County, CO WHEREAS, Owner is willing to acknowledge, accept, abide by and faithfuLly perform the conditions and requirements imposed by City in approving the Application and the Amended PUD Development Plan; and WHEREAS, contemporaneously with the execution and recording ofthis Amended PUD Agr Ci and Owner have recorded the Amended PUD Development Plan as Reception -No. in the Office ofthe Clerk and Recorder of Pitkin County. Colorado. NOW, THEREFORE, for and in consideration ofthe mutual covenants and agreements herein contained and the approval and acceptance for recordation by the City of the Amended PUD Development Plan, and for other good and valuable consideration, the receipt and sufficiency ofwhioh are hereby acknowledged, the parties agree to the following provisions. Reference is made to the paragraph numbers ofthe 2007 PUD Agreement. These provisions modify and amend the 2007 PUD Agreement, and control over any inconsistent provisions therein: 1.1. Purnose. The purpose of this Amended PUD Agreement is to set forth the understanding and agreement of the parties with respect to the revised plans for the renovation of the Hotel Jerome and to enumerate all amendments to the terms and conditions ofthe 2007 PUD Agreement, so that the parties have set forth all terms and conditions under which such renovation may occur. 1.2. Vested Rights. The right to undertake and complete the development and use of the Hotel Jerome Property pursuant to the terms and provisions of the 2007 PUD Agreement, this Amended PUD Agreement, and the PUD Development Plan as amended by the Amended PUD Development Plan is vested until March 22,2015 and shall not be altered, impaired diminished or delayed by any subsequent zoning or land use action that is prohibited by CAS. Â§ 24-68- 105(1). The 2007 PUD Agreement, this Amended PUD Agreement, and the PUD Development Plan as amended by the Amended PUD Development Plan shall be considered a "development agreement" as that term is used in C.R.S. Â§ 24-68-104(2). 2.2. Dimensional Requirements for Hotel Jerome. (1) Allowable Floor Area 113,733 square feet Commercial: 13,838 square feet Lodge Units: 59,072 square feet Other: 40,823 square feet 3.1. Hotel Jerome Component The renovated Hotel Jerome will contain (i) 94 lodge units containing a maximum of 59,072 square feet of floor area, calculated in accordance with the City's floor area regulations in effect at the time Owner submits an application for a building permit for the Hotel Jerome Property, (ii) 14,734 square feet of net leasable commercial area based on the City's net leaseable area regulations in effect at the time Owner submits an application for a building permit for the Hotel Jerome Property; (iii) 47 parking spaces located in the Hotel garage, and (iv) various back-of-the-bouse facilities and areas containing a maximum of40,823 square feet of floor area. Exhibit A to the 2007 PUD Agreement is hereby deleted. 2 3.2Â®. Cortina Lodge Component The parties acknowledge and agree that the Owner has completed the renovation of the Cortina Lodge substantially in conformance with the conditions of the 2007 PUD Agreement, and the City has issued a Certificate of Occupancy and accepted such renovation as full and complete discharge of Owner's obligations to renovate the Cortina Lodge. 3.2(b)(c)(d). Cortina Lodge Conigonent. The parties acknowledge and agree that the Owner has deed restricted the affordable housing units in the Cortina I=lge substantially in conformance with Paragraphs 3.2(b)(c)(cl) of the 2007 PUD Agreement, which deed restriction was recorded in the records of Pitkin County, Colorado on January 10, 2011 at Reception No. 576617 c'Deed Restriction"). The Deed Restriction was approved and recorded as full and complete discharge ofOwner's obligations to deed restrict the affordable housing units in the Cortina I..odge 3.3. Affordable Housing Mitigation. No affordable housing mitigation shall be required in connection with the renovation of the Hotel Jerome Property and the expansion of its net leasable commercial area approved pursuant to the Notice of Approval recorded March 20, 2012 at Reception No. 587590. An afTordable housing mitigation credit in the amount of one (1) FIE shall remain at the Cortina Lodge upon issuance ofa Certificate ofOccupancy forthe renovated Hotel Jerome, which credit may be applied to any further expansion of the hotel's lodge rooms and/or commercial net leasable area. 3.4(a). Construction in Accordance witb Plans and HPC Resolutions - Hotel Jerome. The Hotel Jerome renovation, and all of its component parts, shall be accomplished in substantial compliance with the PUD Development Plan as amended by the Amended PUD Development Plan, and with all architectural plans and elevations, utility plans, and drainage plans that are recorded contemporaneously therewith. 3.4{Â«ii) and (iii). Paragraphs 3.4(a)(ii) and 3.4(a)(iii) of the 2007 PUD Agreement are hereby deleted. 3.404 Cortina Lodge. The parties acknowledge and agree that the Owner has completed the renovation oflhe Cortina Lodge substantially in conformance with the conditions of the 2007 PUD Agreement and the City has issued a Certificate of Occupancy and accepted suchrenovation as full and complete discharge of Owner's obligations to renovate the Cortina Lodge pursuant to the 2007 PUD Agreement 3.6. Inventory and Treatment of Interior Features of Hotel Jerome. The parties acknowledge and agree that the Owner has completed the conditions set forth in Paragraphs 3.6(a) and (b) of the 2007 PUD Agreement, and the City has issued a Notice ofApproval recorded March 20,2012 as Reception No. 587589 accepting the Inventory and proposed treatment in full and complete discharge ofthe Owner's obligations pursuant to the 2007 PUD Agreement. 3 3.7. Cortina Lodge HiatoriC Landmark Designation. The parties acknowledge and agree that the Owner has historically designated the Cortina Lodge substanlially in accordance with the conditions ofParagraph 3.7 ofthe 2007 PUD Agreement, which designation is set forth in City Council Ordinance No. 25, Series of 2010. As such, this condition to receiving a building permit for the Hotel Jerome Property has been met 3.8(a). Hotel Jerome Landscane Improvements. The Ownerhas no present plans to implement the Conceptual Landscape Plan included in the 2007 PUD Development Plan. Ifa new landscape plan is developed, it shall be submitted by the Owner for review and approval by the City Parks Depmtment and the HPC staff and monitor. The provision requiring that a Final Landscape Plan be submitted prior to issuance of a building permit for the Hotel Jerome Property is deleted. Article IVA Hotel Jerome Landscaping Improvements. The Owner has no present plans to implement the Conceptual Landscape Plan included in the 2007 PUD Development Plan. As such, the provision that the landscaping improvements be completed no later than six (6) months following the issuance of a Certificate of Occupancy for the Hotel Jerome Property renovation is deleted. Article IV.B. Hotel Jerome Landscape Improvements - Financial Assurances. The Owner has no present plans to implement the Conceptual landscape Plan included in the 2007 PUD Development Plan. As such, 1he provision requmng a letter of credit to be issued prior to the issuance of a building permit for the Hotel Jerome Property renovation is deleted. GENERAL PROVISIONS The provisions hereof shall be binding upon and inureto the benefit of Owner and City and their respective successors and assigns b. This Amended PUD Agreement shall be subject to and construed in accordance with the laws of the State of Colorado. c. If any of the provisions of this Amended PUD Agreement or any paragraph, sentence, clause, phrase, word, or section or the application thereof in any circumstance is invalidated, such invalidity shall not affect the validity of the remainder of this Amended PUD Agreement, and the application of any such provision, paragraph, sentence, clause, phrase, word, or section in any other circumstance shall not be affected thereby. 4 This Amended PUD Agreement and the exhibits attached hereto contain the entire understanding between the parties hereto with respect to the transactions contemplated hereunder. Owner, its successors or assigns, may, on its own initiative, petition the City Council for an amendment to this Amended PUD Agreement or for an extension of one or more of the time peiods required for performance hereunder. The City Council shall not unreasonably deny such petition for amendment or extension after considering all appropriate circumstances. Any 4 such amendments or extensions of time shall only become effective upon the execution by all parlies hereto that are affected by the proposed amendment e. Numerical and title headings contained in this Amended PUD Agreement are for convenience only, and shall not be deemed determinative of the substance contained herein. As used herein, where the context requires, the use of the singular shall include the plural and the use of any gender shall include all genders. f. Upon execution of this Amended PUD Agreement by all parties hereto, City agrees to approve the Amendments to PUD Development Plan and to accept the same for recordation in the office of the Clerk and Recorder for Pitkin County, Colorado, upon payment of the recordation fees by Owner. g. Notices to be given to the parties to this Amended PUD Agreement shall be considered to be given if hand deUvered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or such other addresses as may be substituted upon written notice by the parties or their successors or assigns: CITY: City of Aspen City Manager 130 South Galena Slreet Aspen, CO 81611 OWNER: Jerome Property, LLC do Hans Pusch 240 West Madison Slreet Chicago, IL 60661 With Copy to: Maria Morrow Dates, Knezevich, Gardenswartz, Kelly & Morrow, P.C. 533 E. Hopkins Avenue, 3rd Floor Aspen, CO 81611 h. This Amended PUD Agreement may be executed in counterparts, in which case all such counterparts together shall constitute one and the same instrument which is binding on all of the parties thereto, notwithstanding that all of the parties are not signatory to the original or the same counterpart Facsimile signatures shall be treated as original signatures hereon. i. The terms, conditions, provisions and obligations herein contained shall be deemed covenants that run with and burden the Property and any and all owners thereof or interests therein, their respective successors, grantees or assigns, and further shall inure to lile benefit of and be specifically enforceable by or against the parties hereto, their respective successors, g~Â·antees or assigns. 5 IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of the day and year first above written, CITY: City of As~j Colorado, a Colorado municipal corporation BF C T V.,f V ll>4 CMs Bendon Community Development Director Attest APPROVED AS TO FORM: ~ames R. True, City Attorney J OWNER: Jerome Property, LLC By../ tc~ 6 STATE OF COLORADO ) ) SS. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this 17day of Opu4O12 by Miqk*elmhm-Ma,ref and Kathryn S. Koch as City Clerk of the City of Aspen, Colorado, a mumf*Arc [**62 CAUMily'CKÂ¢(*Mmov# PimÂ» Witness my band and official seal. My commission expires: 0 4b 7-/20 15 0 93.,r,-9,3.814\ +46Â£~ XMAA/ 0---FtÂ» /1 0.7 ~ptary Public ~%*liECOx STATE OF ILLINOIS ) ) SS. COUNTY OF (' CAX- ) rEl The foregoing instrument was acknowledged before me this 10~ day of &90 0 2012 by bnal.ck 2 02' 4 5773& as pACk.C\AÂ©ir- of Jerome Property, LLC, a Delaware limited liability company.3 Witness my hand and official seal. My commission expires: CL,1 / LA,/ , 4 i OFFICIAL SEAL (iI,g , E,47Â»4-,Le~ ~ NOTARY PJ~- ~OF ILLINOIS ~ Notary Public ~___i, i MY COMMISSION EXPIRES:04/19/14 3 <,â€¢,W~.VVVWWWVâ€¢.A~A,v'A,V.,VV 7 NOTICE OF APPROVAL For an Insubstantial PUD Amendment to 330 East Main Street, aka the Hotel Jerome Parcel ID No. 2737-073-21-001: APPUCANT: Jerome Property, LLC 540 West Madison, Chicago, IL 60661 REPRESENTATIVE; Sunny Vann, Vmm Associates, LLC P.O. Box 4827, Basalt, CO 81621 9701925-6958 SITE oF AMENDMENT: The Hotel Jerome. 330 East Main Street, Lots A - I, and Lots O - S, 0nd the easterly 20 feet of Lot N and the casterly 170 fbet of the vacated alley all in Block 79, City and Townsite of Aspen, Pitkin County, Colorado. SUMMARY: The Applicant requests approval to update the 2007 PUD Agreement (recordation # 533928) to memorialize various provisions of the Agreement that have been met by the Applicant including the landmmk designation and recordation of deed restrictions for the Cortina Lodge, obligations related to the inventory and preservation of interior element; and obligations that no longer apply to the scope of project including the landscape plan and the proposed awnings and metal balcony railings. BACKGROUND: PRIOR To 2006 In 1986 the Amended and Restated PUD Plat (Book 518, Page 949) permitted 94 lodge rooms. Various land use approvals were granted to the Hotel Jerome prior to 2006. All of these approvals were superseded by the PUD amendment in 2006 with the exception of a requirement that 20 full time equivalents are housed in the Cortina Lodge 2006 City Council approved Ordinance No. 42, Series of 2006 replacing the previous entitlements with a new ap,oval that permitted the entargement of the Hotel's net leasable commercial area, the reconfiguration and renovation of the Hotel's Main and Mill Streets courtyards, and the elimination ofa prior condition that a porlion of the Hotel's parking garage be reserved for Hotel employees. In addition, the renovation of the Cortina Lodge was approved to meet the Hotel's employee housing mitigation requirements. Preservation of historic interior elements of the Hotel and a designation application for the Cortina Lodge were also required. The number of lodging units (94 keys) was not increased in 2006. The only aspect of the project that generated housing mitigation was an increase to the not leasable commercial area. Using the growth management benefit for the enlargement of historic landmarks, it was determined that 1.42 full time equivalents (FIEs) required mitigation. During the 2006 approvals, a total of 21 FIEs were calculated to be housed at the Cortina Lodge. Considering the prior requirement of 20 FrEs housed at the Cortina, a credit of 1 FTE was available. The 2006 approval permitted the 1.42 FTE mitigation requirement to be fulfilled by housing 1 FIE at the Cortina, thus Page l of 4 I RECEPTION#: 588635, 04/27/2012 at 02:37:33 PM, 1 OF 4, R $26.00 Doc Code NOTICE Janice K. Vos Caudill, Pitkin County, CO utilizing all 21 PTEs housed in the Cortina, and paying a cash in lieu ke for the remaining 0.42 FTE by averaging the cash in lieu payment for Category 2 and Category 3. The vested tights for the 2006 approval expired on January 14,2010. 2008 In 2008 fhe Community Development Department approved an insubstantial amendment to allow the conversion of an office space to a lodge unit without triggering the requirement to mitigate for the 1.42 FTEs associated with the lodge expansion. At the time ofthe request theit were only 92 lodge units in the Hotel, thus granting an amendment to allow the conversion of office to lodge was compliant with both the 1986 and the 2006 approvals which allowed 94 lodge units. 2010 In 2010 the Community Development Department approved an insubstantial amendment to bifurcate the entitlements to allow construction on the Col'tina Indge component prior to beginning construction of the Hotel renovation. Phase I included the renovation, a designation application, and deed restriction of Cortina Lodge units for affordable housing. Phase II included the renovation and enlargement of the Hotel Jerome component. It was determined that Phase I did not trigger any impact fees; however Phase II will have impact fees assessed at the time of building permit submittal for the Hotel component 2011 In March of 2011, the Community Development Department approved an insubstanlial - amendment for internal changes which reduced the overall floor area, teduced the net leasable E commercial area, and increased the "othet" floor area calculation for uses associated with the lodge use. An amended insubstantial PUD amendment was recorded on Apit '24-, 2012, recordation# 960 4 94, to correct clerical errors. STAFF EVALUATION: The proposed changes to the Hotel Jerome PUD meet the review criteria for an insubstantial amendment, attached as Exhibit A The changes are consistent with the approved use and the site specific approval. The ploposed change memorializes the conditions of approval that the = Applicant has met. DECISION: The Community Development Director finds the Administrative Application for an Insubstantial PUD Amendment as noted above and on Exhibit 'A' to be consistent with the review criteria (Exhibit A) and thereby, APPROVES the request: 1. The PUD Agreement shall be amended prior to submittal of a building permit. Page 2 of 4 - ...... %.Ill,well'-i.,0.1-1--DÂ¥1-9-**,4- APPROVED BY: IUVfko~0~*0~<bndw- 41%Â·wip Date 5* Community Development Director ACCEPTED BY: 4/6, 484 Jdrome Property LLC Â· Date / / Attachments: Exhibit A: Review Criteria Page 3 of4 EXHIBIT A Section 26.445.100 Amendment of PUD development order A. PUD Insubstantial Amendments. An insubstantial amendment to an approved development order for a final development plan may be authorized by the Community Development Director. The following shall not be considered an insubstantial amendment: 1. A change in the use or character of the development. There is no change in the use or cheacter of the building. 2. An increase by greater than three percent (3%) in the overall coverage of structures on the land. T'he there is no increase in coverage. 3. Any amendment that substantially increases trip generation rates of the proposed ~ development or the demand for public facilities. Trip generation and demandjbr public services will not be impacted by this amendment. 4. A reduction by greater than three percent (3%) of the approved open space. There is no change to the open space. 5. A reduction by greater dian one percent (1%) of the off-street parking and loading space. There is no change in the parking/loading space. 6. A reduction in required pavement widths or rights-of-way for streets and easements. There is no change in the ROW's widths. streets or easements. 7. An increase of greater than two percent (2%) in the approved gross leasable Roor area of commercial buildings. There is no increase in the approved gross leasable foor area of the coinmercial building. 8. An increase by greater than one percent (1%) in the approved residential density of the development, n/a. 9. Any change which is inconsistent with a condition or representation of the project's original approval or which requires granting a variation from the project's approved use or dimensional requirements. The chcmge ts consistent with the approved use and the site specijicapproval. The proposed change memorializes the conditions ofapproval that the Applicant has met. t Page 4 of 4 VANN ASSOCIATES, LLC Planning Consultants RECEIVED April 12, 2012 APR 1 2 2012 CITY OF ASPEN COMMUNITY DEVELOPMEN) HAND DELIVERED Mr. Chris Bendon, Director Aspen Community Development Department 130 South Galena Street Aspen, CO 81611 Re: Hotel Jerome Insubstantial PUD Amendment Dear Chris: Please consider this letter an application for an insubstantial PUD amendment for the Hotel Jerome Planned Unit Development (see Exhibit 1, Pre-Application Conference Summary, attached hereto). The application is submitted pursuant to Section 26.445.100.A. of the Aspen Land Use Regulations (the "Regulations") by Jerome Property LLC, a Delaware limited liability company (hereinafter "Applicant"). The Applicant's ownership of the property is evidenced in the attached Title Insurance Policy (see Exhibit 2). Permis- sion for Vann Associates, LLC, Planning Consultants, to represent the Applicant is attached as Exhibit 3. The application is being processed pursuant to the land use application form and fee agreement submitted in connection with the Applicant' s February 1, 2012 insubstantial PUD amendment application, copies of which are attached hereto as Exhibits 4 and 5. Background In March of 2012, the Community Development Department ("COMDEV") approved an insubstantial PUD amendment permitting various revisions to the 2006 approved PUD development plan for the renovation of the Hotel Jerome (see Exhibit 6, Notice of Approval and Development Order). In connection therewith, COMDEV also reviewed and approved a written inventory of original features existing within the Hotel and the Applicant's proposed treatment thereof (see Exhibit 7, Notice of Approval). The inventory was required pursuant to Section 12 of Ordinance No. 42, Series of 2006, which granted approval for the Hotel's renovation. The inventory was also required pursuant to Article III, paragraph 3.6, of the 2007 RO. Box 4827 Â· Basalt, Colorado 81621 Â· 970/925-6958 ' Fax 970/920-9310 vannassociates@comcast.net Mr. Chris Bendon April 12, 2012 Page 2 Hotel Jerome PUD Agreement ("the Agreement") which memorialized the various conditions of the 2006 City Council approval. Proposed Amendment The Applicant' s 2012 insubstantial PUD amendment approval was conditioned upon the recordation of an amendment to the Agreement i) memorializing various revisions to the proposed renovation' s previously approved dimensional requirements and ii) omitting the Agreement's requirement that the Hotel's floor area be calculated pursuant to the City' s 2006 Regulations. An additional condition requires the recorda- tion of amended floor plans depicting the Applicant's revised renovation proposal. As the original Agreement contains various other provisions that have either previous- ly been met by the Applicant or require revision to reflect the recent 2012 insub- stantial PUD amendment, the Applicant requests that an additional insubstantial PUD amendment be granted to permit further revisions to the Agreement. More specifical- ly, the Applicant requests the following. 1. That Article III, paragraphs 3.2(a), (b), (c) and (d), be revised to reflect the Applicant's compliance with the requirements of these paragraphs; 2. That Article III, paragraphs 3.4(a)(ii) and (iii), be deleted as the features referred to in these paragraphs are no longer proposed; 3. That Article III, paragraph 3.4(b), be revised to reflect the Applicant's completion of the renovation of the Cortina Lodge in accordance with the require- ments of this paragraph; 4. That Article III, paragraph 3.6, be revised to reflect that the Applicant has complied with the requirements of this paragraph, and that a Notice of Approval with respect thereto has been issued by COMDEV; 5. That Article III, paragraph 3.7, be revised to reflect that the Applicant has complied with the requirements of this paragraph; 6. That Article III, paragraph 3.8(a), be revised to delete the requirement that a Final Landscape Plan be submitted for review and approval prior to issuance of a building permit for the Hotel's renovation as there are no present plans to imple- ment the previously approved Conceptual Landscape Plan; 7. That Article IV, paragraphs A. and B. be revised to eliminate the requirements that landscaping improvements be completed within six months of the Mr. Chris Bendon April 12, 2012 Page 3 issuance of a Certificate of Occupancy for the renovated Hotel, and that a Letter of Credit with respect thereto need not be provided prior to building permit issuance. The above additional revisions to the Agreement are requested to facilitate the Applicant' s building permit submission and to memorialize that various provisions of the Agreement have been met by the Applicant. Review Requirements Pursuant to Section 26.445.100.A. of the Regulations, the Community Development Director may approve an insubstantial amendment to a final PUD development plan subject to certain requirements. The specific requirements, and the proposed amend- ment's compliance therewith, are summarized below. 1. The proposed amendment does not change the use or character of the development. The proposed amendment does not change the use or character of the develop- ment. 2. The proposed amendment does not increase overall coverage of structures on the land by greater than three (3) percent. The proposed amendment does not increase the Hotel's site coverage. 3. The proposed amendment does not substantially increase trip generation rates or the demand for public facilities. The proposed amendment does not increase trip generation rates or the demand for public facilities. 4. The proposed amendment does not reduce the approved open space by greater than three (3) percent. The proposed amendment will not reduce the Hotel' s approved open space. 5. The proposed amendment does not reduce the approved off-street parking and loading space by greater than one (1) percent. The proposed amendment will not reduce the Hotel's approved parking or loading space. Mr. Chris Bendon April 12, 2012 Page 4 6. The proposed amendment does not reduce the required pavement widths or rights-of-way for streets and easements. No reductions in pavement widths or street rights-of-way are proposed. 7. The proposed amendment does not increase the approved gross leasable floor area of commercial buildings by greater than two (2) percent. The proposed amendment does not increase the Hotel's approved net leasable commercial area. 8. The proposed amendment does not increase the approved residential density of the development by greater than one (1) percent. This criteria is not applicable as the Hotel does not contain a residential component. 9. The proposed amendment does not involve changes which are inconsistent with a condition or representation of the project's original approval or which requires granting a variation from the project's approved use or dimensional requirements. The proposed amendment does not involve changes that are inconsistent with the project's approval conditions. Should you have any questions, or if I can be of any further assistance, please do not hesitate to call. Yours truly, VANNAASSOCIATESLLC t Sun#Vann S~Fcwv Attachments d:\oldc\bus\city.app\app57811.2 EXHIBIT CITY OF ASPEN PRE-APPLICATION CONFERENCE SUMMARY PLANNER: Sara Adams, 970.429.2778 DATE: 4/11/12 PROJECT: 330 E. Main Street, Hotel Jerome RECEIVED REPRESENTATIVE: Vann Associates, Rowland+Broughbn Architecture and Urban Design CITY OF ASPEN APR 1 2 2012 TYPE OF APPLICATION: Insubstantial PUD Amendment COMMUNITY DEVELOPMENT DESCRIPTION: The applicant is interested in amending the PUD agreement to reflect completion of specific requirements to date, for example, the Cortina Lodge renovation and landmark designation has been completed. The applicant is also interested in omitting the requirement to receive final landscape plan approval from the HPC because the comprehensive landscape plan is no longer part of the project scope. The applicant is required b file an insubstantial PUD amendment to change these aspects of the agreement. The land use application is found here: http:#www.aspenpitkin.com/Portals/0/docs/City/Comdev/Apps%20and%20Fees/2011%20Iand%20use%20app %20form.pdf Land Use Code Section(s) 26.304 Common Development Review Procedures 26.445.100.A Planned Unit Development -PUD Insubstantial Amendment Review by: Community Development Staff for Completeness and Determination Public Hearing: No Planning Fees: Please submit separate applications. The Insubstantial amendment shall be billed hourly at $315 per hour. Deposit: $315 for 1 hour, to be billed hourly. Total Number of Application Copies: 2 sets of each application To apply, submit the following information: 1-1 Total Deposit for review of application. 1-1 Pre-application Conference Summary. 1-1 Applicant's name, address and telephone number, contained within a letter signed by the applicant stating the name, address, and telephone number of the representative authorized to act on behalf of the applicant. [-1 Proof of ownership CJ Street address and legal description of the parcel on which development is proposed to occur, consisting of a current certificate from a title insurance company, or attorney licensed to practice in the State of Colorado, listing the names of all owners of the property, and all mortgages, judgments, liens, easements, contracts and agreements affecting the parcel, and demonstrating the owner's right to apply for the Development Application. r-1 Completed Land Use application 1-1 Signed fee agreement I--1 An 8 1/20 x 11" vicinity map locating the subject parcels within the City of Aspen. r-12 copies of the complete application packet and maps. El A written description of the proposal and a written explanation of how a proposed development complies with the review standards relevant to the development application. Disclaimer: The foregoing summary is advisory in nature only and is not binding on the City. The summary is based on current zoning, which is subject to change in the future, and upon factual representations that may or may not be accurate. The summary does not create a legal or vested right. ILL_J File No.: 4544[0301993-610-ETO ENDORSEMENT Attached to Policy No. G47-Z234547 Issued By Fidelity National Title Insurance Company 1. Under Schedule A, the effective Date ofPolicy is hereby amended to read July 14, 2010 at 3:45 PM. 2. Under Schedule A, Paragraph 3, the vested owner is amended to read as follows: Jerome Property LLC, a Delaware limited liability company 3. Under Schedule A, the Amount ofInsurance is amended to read $38,911,667.84. 4. Under Schedule A, Paragraph 4, the Insured Mortgage is amended to read as follows: Deleted 5. Schedule B is amended as follows: Terms, conditions, provisions, agreements and obligations contained in the Revocable Encroachment License Application recorded February 17, 2010 at Reception No. 567076. Terms, conditions, provisions, agreements and obligations contained in the Revocable Encroachment License Application recorded July 08, 2010 at Reception No. 571875. The Company does not insure against loss or damage sustained by the Insured, and the Company will not pay costs, attorney's fees, or expenses, by reason of the avoidance, in whole or in part, or a court order providing some other remedy, based on the voidability of any estate or interest shown in Schedule A or the Insured Mortgage, as originally recorded or as modified, because of the occurrence, after the prior Date of Policy stated in Schedule A of the policy, of a fraudulent transfer or a preference under federal bankruptcy, state insolvency, or similar creditors' rights laws. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date ofPolicy, or (iv) increase the Amount of Insurance. To the extent a provision ofthe policy or a previous endorsement is inconsistent with an express provision ofthis endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions ofthe policy and of any prior endorsements. Dated: : February 08,2011 Fidelity National Title Insurance Company ~Â°n<Â¥~ By 441 8*EL : SEAL)* '*.jâ€¢ pas -4 17 /1 1 -- AL-- Secretary Authorized Signature Endorsement Colorado Form 107.12A-06 Title Down Date (Owner/Lender) dA10712A06 Lawyers Title Insurance Corporation OWNER'S POLICY ~ SCHEDULE A 12/08/2009 10:07:56 pk PK File No.: 454-00261384-036-MEJ Policy No.: H0261384OTP Amount of Insurance: $38,000,000.00 Date ofPolicy: December 10, 2009 at 2:12 PM 1. Name of Insured: Jerome Ventures LLC, a Delaware limited liability company 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: Jerome Ventures LLC, a Delaware limited liability company 4. The land referred to in this policy is described as follows: See Exhibit A attached hereto and made a part hereof Lawyers Title Insurance Corporation File No.: 454-H0261384-036-MEJ Policy No: H0261384OTP SCHEDULE A (Continued) Exhibit A PARCEL A: LOTS P AND Q, BLOCK 73, CITY AND TOWNSHE OF ASPEN PARCEL B: A parcel of land situated in the City and Townsite of Aspen, Colorado, being all of Lots A B, C, D, E, F, G, H, L O, P, Q, R, S, and the East 20.00 feet of Lot N, all in Block 79, together with the East 170.00 feet ofthe Alley in said Block 79, Vacated by Ordinance No. 1 (Series of 1951) of the City ofAspen, Colorado, according to the Hotel Jerome Lot Line Adjustment and Subdivision Exemption Plat filed June 12, 1991 at Reception No. 331521, in Plat Book 26 at Page 52, also described as follows: Beginning at the Southeast Comer of said Block 79 (An aluminum disk marked "16129 McBride"); thenceN 75Â°09'11" W 170.78 feet along the Northerly line of East Main Street to tile Southwest Corner of the East 20.00 feet of Lot N; thence N 14Â°50'49" E 100.00 feet along the West line ofthe East 20.00 feet ofLot N; thence S 75Â°09'11" E 0.78 feet along the South line of the Alley in said Block 79 to the West side of the Vacated portion of the Alley in said BIock 79; thence N 14Â°50'49"E 20.39 feet along the West side of the Vacated portion of the Alley in said Block 79; thence N 75Â°09'11" W 101.40 feet along the North line of the Alley in said Block 79; thence N 14Â°50'49" E 100.00 feet along the East line ofNorth Monarch Street to the Northwest Corner of said Block 79; thence S 75Â°09'11" E 271.40 feet alongthe South line of East Bleeker Street to the Northeast Corner of said Block 79; thence S 14Â°50'49" W 119.39 feet along the West line of North Mill Street; thence S 75Â°09'11" E 0.50 feet; thence S 14Â°50'49" W 100.70 feet; thence N 75Â°09'11" W 0.50 feet; thence S 14Â°50'49" W 0.30 feet to the point ofbeginning. PARCEL C: A non-exclusive easement for purposes of maintaining two existing window wells, a portico and a stairwell to the basement of the Hotel Jerome as set forth in an encroachment agreement recorded March 5, 1992 in Book 671 at Page 33 (Affects Parcel B) and anon-exclusive easement forpurposed of a drive ramp and snowmelt to parking garage as set forth in an encroachment agreement recorded October 20, 2005 as Reception No. 516494 (Affects Parcel A). File No.: 454-H0261384-036-MEJ Policy No.: H0261384OTP SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Any facts, rights, interests or claims that are not shown by the Public Records but which could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 3. Any encroachments, encumbrances, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by Public Records. 4. Any lien or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public Records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires of record for the value the estate or interest or mortgage thereon covered by this Commitment. 6. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings By a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency ofby the Public Records. 7. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof, (c) water right, claims of title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 8. All taxes and assessments for the year 2009 and subsequent years, a lien but not yet due or payable. 9. Reservations and exceptions as set forth in the Deed from the City of Aspen recorded in Book 59 at Page 521 (as to Parcel A) and Book 59 at Pages 15, 159, 199, 200, 262, and 492 (as to Parcel B), providing as follows: "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". 10. Terms, conditions, provisions, agreements and obligations contained in the Notice of Historic designation recorded January 13, 1975 in Book 295 at Page 515 and Ordinance 9, series of 1982 recorded April 30, 1982 in Book 425 at Page 904. (Affects Parcel B) 11. Terms, conditions, provisions, agreements and obligations contained in the Ordinance No. 60, Series of 1976 recorded in Book 321 at Page 51. (Affects Parcel A) Lawyers Title Insurance Corporation File No.: 454-H0261384-036-MEJ Policy No: H0261384OTP SCHEDULE B EXCEPTIONS FROM COVERAGE (Continued) 12. Easements, rights of way and all matters as disclosed on.the Hotel Jerome Lot Line adjustment and Subdivision Exception Plat recorded June 12, 1991 in Plat Book 26 at Page 52 and Hotel - Jerome Planned Unit Development recorded January 30, 2007 in Plat Book 82 at Page 42. (Affects Parcel B) 13. Terms, conditions, provisions, agreements and obligations contained in the Ordinance No. 5, Series of 1983 recorded May 17, 1983 in Book 445 at Page 81. (Affects Parcel ]3) 14. Terms, conditions, provisions, agreements and obligations contained in the Encroachment agreements recorded March 05, 1992 in Book 671 at Page 33 (Affects Parcel B) and recorded October 20,2005 at Reception No. 516494 (Affects Parcel A). 15. Terms, conditions, provisions, agreements and obligations contained in the Resolution of the Aspen Historic Preservation Commission recorded May 19, 2006 at Reception No. 524233 as Resolution No. 5 (Series of 2006). (Affects Parcel B) 16. Terms, conditions, provisions, agreements and obligations contained in the Resolution of the Aspen Planning and Zoning Commission recorded October 26,2006 at Reception No. 530238 as Resolution No. 20 (Series of 2006). (Affects Parcel B) 17. Terms, conditions, provisions, agreements and obligations contained in the Resolution of the Aspen Historic Preservation Commission recorded January 25,2007 at Reception No. 533744 at Resolution No. 37 ( Series of 2006). (Affects Parcel B) 18. Terms, conditions, provisions, agreements and obligations contained in the Ordinance No. 46, Series of 2006 by Aspen City Council recorded January 30,2007 at Reception No. 533926. (Affects Parcel B) 19. Terms, conditions, provisions, agreements and obligations contained in the 2007 Hotel Jerome PUD Agreement recorded January 30,2007 at Reception No. 533928. (Affects Parcel B) 20. Rights or claims of tenants as tenants only, with no option to purchase or rights of first refusal. 21. Deed of Trust from LCP-Elysian Aspen Owner, LLC, a Delaware limited liability company to the Public Trustee of Pitkin County for the benefit of Morgan Stanley Mortgage Capital Inc., a New York corporation to secure an indebtedness in the principal sum of $48,000,000.00, and any other amounts and/or obligations secured thereby, dated May 24,2007 and recorded May 25, 2007 at Reception No. 238266. The Deed of Trust was assigned to Jerome Property LLC, a Delaware limited liability company recorded September 01, 2009 at Reception No. 562446. Assignment of Rents in connection with said deed of trust recorded May 25,2007 at Reception No. 538267 and assignment thereto recorded September 01, 2009 at Reception No. 562447. Lawyers Title Insurance Corporation File No.: 454-H0261384-036-MEJ Policy No: H0261384OTP SCHEDULE B EXCEPTIONS FROM COVERAGE (Continued) 22. Financing Statement from LCP-Elysian Aspen Owner, LLC, a Delaware limited liability - company, Debtor, to Lehman Brothers Bank FSB (n/]da Aurora Bank FSB), Secured Party, recorded September 04,2009 at Reception No. 562540. The Financing Statement was assigned to Jerome Property, LLC, a Delaware limited liability company recorded September 11, 2009 at Reception No. 562684. 23. Any right or asserted right of a creditor, trustee or debtor in possession in Bankruptcy to avoid that certain conveyancing document recorded December 10, 2009 at Reception No. 565212 of the official records of Pitkin county pursuant to Title n U.S.C. (BANKRUPTCY). NOTE: Exception No. 23 above will be deleted upon transfer to a bonafide purchaser for value or after a one (1) year period subsequent to recordation of the subject conveyancing document. This exception will be omitted from any policy or policies of title insurance issued by this Company for the benefit of a bonafide purchaser for value, provided no petition in Bankruptcy appears of record at that time. NOTE: Exceptions 1 through 4 are hereby deleted. EXHIBIT - y - B 3 February 1, 2012 Mr. Chris Bendon, Director Aspen Community Development Department 130 South Galena Street Aspen, Colorado 81611 Re: Permission to Represent Dear Mr. Bendon: Please consider this letter authorization for Sunny Vann of Vann Associates, LLC, Planning Consultants, to represent us in the processing of our application for an insub- stantial PUD amendment for the Hotel Jerome Planned Unit Development. Mr. Vann is hereby authorized to act oli our behalf with respect to all matters reasonably pertaining to the aforementioned application. Should you have any questions, or if we can be of any further assistance, please do not hesitate to call. Yours truly, JEROME4**221_63 LLC / .A Jf1.. 4 ( fuj bifnald Wilson, Manager DRW Trading Group 540 West Madison Chicago, IL 60661 (312) 542-1030 d:\olde\bus\city. Itrfltr57811.cbl Wi/*Â¥ /1 "/0 . I.K. 4216 EXHIBIT LAND USE APPLICATION APPLICANT: Name: -jeÂ¥,-4 Es FÂ»re,179 Cal Location: 916\.3 efir HArlz=Â£:61, c &4 /cen, /6 Obcct (Indicate street address, lot & block number, legal description where appropriate) Parcel ID tt (REQUIRED) 2 737-d37:3 - 2/22:Dy REPRESENTATIVE: Name: 63**/AFf VAA,U i~Â«Â£/ 4560,=&978= ,Â£Â£gL Address: r. 0. 736% 482= 1, BAsAfil ,- as 29 42/ Phone #: 925 -09 58 PROJECT: Name: EL JE/9-It,Uâ‚¬ZDMS:DN-mAL- rEp /4-kE.4 Pl-ht[ Address: -tyÂ» 66â‚¬r /*, 4 g. reg=e,- 1 : a 2Ja 1 Phone #: 51 2-- 442- /630 TYPE OF APPLICATION: (please cheek all that apply): Â£ Conditional Use CJ~~,00.,â‚¬onceptual PUD U Conceptual Historic Devt. El Special Review E Final PUD (& PM Amendment) U Final Historic Development 1 Design Review Appeal Ed Conceptual SPA U Minor Historic Devt. El GMQS Allotment U Final SPA (& SPA Amendment) El Historic Demolition U GMQS Exemption U Subdivision U Historic Designation U ESA-8040 Greenline, Stream U Subdivision Exemption (includes U Small Lodge Conversion/ Margin, Hallam Lake Bluff, condominiumization) Expansion Mountain View Plane Lot Split U Temporary Use 0 Other: Lot Line Adjustment U Text/Map Amendment EXISTING CONDITIONS: (description of existing buildings, uses, previous approvals, etc.) Â«Efs,ArrucÂ«nal PROPOSAL: (description ofproposed buildings, uses, modifications, etc.) 926 FrriteÂ«r'â‚¬*1 Have you attached the following? FEES DUE: $ 4 225,7 - El'Pre-Application Conference Summary [ErAttachment #1, Signed Fee Agreement /9 tesponse to Attachment #3, Dimensional Requirements Form [E Response to Attachment #4, Submittal Requirements- Including Written Responses to Review Standards un , COMMUNIT3' DEVELOPMENT DEPARTMENT Agreement to Pay Application Fees An agreement between the City of Aspen FCity") and Property Phone No.. 3 6 Â· 1 '-/3 N 7 3 ~ Owner (11 .j &31).1.- ,.fl-41.21.-C , t. 6 Address of Billing # .A - -- Adaress. -1.-1,1, 5- ' .fÂ»:.1 . 0 -- i Property: : v z - . Â·Dj,4,--,; -.Â· (subject of , send bills here) :3..4 D-J 49. .< .~ . .,.. 4 k . ; app ication) +30,1, (e I understand that the City has adopted, vta Ord,nance No. , Series of 2011, review fees fo- Land Use applications and the payment of these fees is a condition prececent to determining application completeness. I understand that as the property owner that I am responsible for paying all fees for this development application. For flat fees and referral fees: I agree to pay the fo:lowing fees for the services indicated I understand that Lhese flat fees are non-refundable. S flat fee for v flat fee for S nat fee for $ flat fee for For deposit cases only The City and I understand mat because of the size nature or scope of :he proposed project it ts not possible at this t,me to know the full extent or total costs involvea m processing the application. I understand that aodltionai costs over and aoove the deposit may accrue. I understand and agree that it is impracticable for City staff to complete processing, review. and presentation of sufficient information to enable legally required findings to be made for project consiaeration, unless invoces are paid in full. The C,ty and I understand and agree that invoices mailed by the City to the above listed billing address and not returned to the City shall be considered by the City as being received by me. I agree to remil payment within 30 days of presentation of an invoice by the C.ty for such services. I have read understood and agree to the Land Use Review Fee Policy Inclucing consequences for non-pavment I agree to pay the following initia; deposit amounts for the specific.3 hours of staff time. I understand that payment of a deposit does not render art application complete or compliant with approval criteria. If actual recorded costs exceed the initial deposit I agree to pay additional manth'V billings to the City to reimburse the City for the processing of my application at the hour,y rates hereinafter stated, e deposit for 1,- hours of Community Development Department statt time- Additional time above the deposit amount will be billed at $315 per hour. S deposit for hours of Engineering Department staff time. Additional time above the deposit amount will be billed at $265 per hour. City of Aspen: Property Owner: 4 ft V -- Chns Bendon Community Development Director Name ...b'..,~~~~~~~~ ~ ~ .~~~~~~~ .Ti:.. City Use: i Title. , 7.,1. 65, L Fees Due: $ Received: $ Nin ember. 20 I I Cit> of A.~pen I 130 S. (ialena St. I (9701 92{)-5()9(3 'satqq. EXHIBIT NOTICE OF APPROVAL For an Insubstantial PUD Amendment to 330 East Main Street, aka the Hotel Jerome Parcel ID No. 2737-073-21-001: APPLICANT: Jerome Property, LLC 540 West Madison, Chicago, IL 60661 REPRESENTATIVE: Sunny Vann, Vann Associates, LLC P.O. Box 4827, Basalt CO 81621 970/925-6958 SITE OFAMENDMENT: The Hotel Jerome. 330 East Main Street, Lots A - I, and Uots O - S, and the easterly 20 feet of Lot N and the easterly 170 feet of the vacated alley all in Block 79, City and Townsite ofAspen, Pitkin County, Colorado. , SUMMARY: The applicant requests approval to reduce the approved net leasable commercial area, increase the floor area allocated to "other" uses, and decrease the overall approved floor area for the site. The proposal includes the following: â€¢ Reduce the size or the spa, â€¢ Relocate offices on the second floor to the basement, â€¢ Convert the second floor offices to a fitness room, â€¢ Convert the Century dining room to a hotel living room. â€¢ Reconfigure 3 guest rooms to allow the creation of lodging suites without changing the number of lodge units or the number the pillows previously approved in 2006. BACKGROUND: PRIOR TO 2006 In 1986 the Amended and Restated PUD Plat (Book 518, Page 949) permitted 94 lodge rooms. Various land use approvals were granted to the Hotel Jerome prior to 2006. All of these approvals were superseded by the PUD amendment in 2006 with the exception of a requirement that 20 full time equivalents are housed in the Cortina Lodge. 2006 Eity Council approved Ordinance No. 42, Series of 2006 replacing the previous entitlements with a new approval that permitted the enlargement of the Hotel's net leasable commercial area, the reconfiguration and renovation of the Hotel's Main and Mill Streets courtyards, and the elimination of a prior condition that a portion of the Hotel's parking garage be reserved for Hotel employees, In addition, the renovation of the Cortina Lodge was approved to meet the Hotel's employee housing mitigation requirements. Preservation of historic interior elements of the Hotel and a designation application for the Cortina Lodge were also required. The number of lodging units (94 keys) was not increased in 2006. The only aspect of the project that generated housing mitigation was an increase to the net leasable commercial area. Using the growth management benefit for the enlargement Of historic landmarks, it was determined that 1.42 full time equivalents (FTEs) required mitigation. During the 2006 approvals, a total of 21 page ! of 5 FTEs were calculated to be housed at the Cortina Lodge. Considering the prior requirement of 20 FTEs housed at the Cortina, a credit of l FTE was available. The 2006 approval permitted the 1.42 FTE mitigation requirement to be fulfilled by housing l FTE at the Cortina, thus utilizing all 21 FTEs housed in the Cortina, and paying a cash in lieu fee for the remaining 0.42 FTE by averaging the cash in lieu payment for Category 2 and Category 3. The vested rights for the 2006 approval expired on January 14,2010. 2008 in-2008 the Community Development Department approved an insubstantial amendment to allow the conversion of an office space to a lodge unit without triggering the requirement to mitigate for the 1.42 FTEs associated with the lodge expansion. At the time of the request there were only 92 lodge units in the Hotel, thus granting an amendment to allow the conversion of office to lodge was compliant with both the 1986 and the 2006 approvals which allowed 94 lodge units. 2010 In 2010 the Community Development Department approved an insubstantial amendment to bifurcate the entitlements to allow construction on the Cortina Lodge component prior to beginning construction of the Hotel renovation, Phase I included the renovation, a designation application, and deed restriction of Cortina Lodge units for affordable housing. Phase II included the renovation and enlargement of the Hotel Jerome component, It was determined that Phase I did not trigger any impact fees; however Phase II will have impact fees assessed at the time of building permit submittal for the Hotel component. STAFF EVALUATION: The proposed changes to the Hotel Jerome PUD meet the review criteria for an insubstantial amendment, attached as Exhibit A. Dimensional Requirements: Staff supports the proposed. internal changes to the project which reduces the overall floor area, reduces the net leasable commercial area, and increases the '<other" floor area calculation for uses associated with the lodge use. The proposal ddes not increase the total floor area approved in 2006 for the project. The reduction of commercial net leasable area does not adversely affect the growth management allotments allocated in the 2006 approvals. The following calculations in Table 1 compare the approved 2006 dimensional requirements to the proposed amendment. The "current amendment" column is calculated based on the current 2011 Land Use Code: Page 2 of 5 Table 1: Current Notes 2006 approval amendmentl Reduction based on conversion of Commercial 15,985 sq. ft. 13,838 sq. ft. Century Room to hotel living room floor area and smaller spa in basement. No change to lodge unit numbers or floor area. The slight decrease Lodge units 59,214 sq. ft. 59,072 sq. ft. results from changes to how floor noor area area is calculated in the 2006 and current Code. Increase based on more back of house hotel functions, conversion "other" floor 39,735 sq. ft. 40,823 sq. ft. of office to fitness room, and area conversion of Centuty Room to hotel living room. Total floor 114,934 sq. ft. 113,733 sq. ft. area Reduction based on smaller spa and smaller Century Room. The current Commercial amendment calculations are based net leasable 14,891 sq, ft. 14,743 sq. ft. on the 2011 net leasable area area definition which is much more inclusive regarding which elements count towards net leasable area. Staff supports the elimination of the requirement to use the 2006 floor area calculations listed in Article 3, Part 1 of the PUD Agreement (Recordation # 533928) to require future amendments be subject to the Land Use Code in place at the time of application. Affordable Housing: As described above, the affordable housing mitigation requirement of 1.42 FTEs approved in 2006 resulted only from an increase in the commercial net leasable component of the project as described above, Due to the proposed reduction of the net leasable commercial area proposed in this amendment, affordable housing generation is re-calculated below. The following calculations are all based on the current regulatory requirements: New commercial net [easable calculation: Existing Hotel: (1,412 sq. ft. basement + 12,851 sq. ft. ground level) = 14,263 sq. A. of net leasable area2 Proposal: (2,360 sq. ft. basement + 12,374 sq. ft. ground leveD = 14,735 sq. ft. of net leasable area3 Amount of new net leasable area: 471 sq,ff. Employee generation calculation: 471 sq. A. in basement @ 3.075 FTEs generated/1,000 sq. ft. net leasable = 1.45 Fits i Calculated pursuant to the current 2011 Land Use Code requirements. 2 The existing commercial net leasable area is calculated based on the current'201 ] Code requirements. 3 The amount of new commercial net leasable is below the 2006 approved commercial net leasable amount of 14,891 sq. ft. Page 3 of 5 Employee mitigation calculation: Enlargement of a historic landmark mitigates the first 4 employees generated at 0%, the second 4 are mitigated at 30%, and the remainder is mitigated at 60%. First 4 employees are mitigated at 0%, and since 1.45 FTEs are generated there is no employee mitigation requirement for the proposed expansion. The 2006 approvals required 20 FTEs to be housed at the Cortina Lodge to mitigate for the lodging component of the Hotel pursuant to the 1986 approvals, The Cortina houses 21 FTEs, so there is 1 FTE at the Cortina that is not used for mitigation purposes and can be used as a credit for future mitigation requirements at the hotel. DECISION: The Community Development Director finds the Administrative Application for an Insubstantial PUD Amendment as noted above and on Exhibit 'A' to be consistent with the review criteria (Exhibit A) and thereby, APPROVES the request with the following conditions: 1. Prior to Building Permit submittal, amend the PUD Agreement (recordation #533928) to reflect the changes to the dimensional requirements listed in Article 2, Paragraph 2.2 of the Agreement, and the affordable housing mitigation requirements listed in Article 3 Paragraph 3.3, described herein. 2. Prior to Building Permit submittal, amend the PUD Agreement to omit the requirement that the project be reviewed pursuant to the 2006 Land Use Code regarding floor area calculations and measurements, described in Article 3, Paragraph 3.1 and attached as Exhibit A. 3. Prior to Building Permit submittal, update the Final PUD floor plans to reflect the changes in floor area and commercial net leasable area calculations, and the reconfiguration of spaces APPROp{Â¥.B BYÂ· /7 ~1/Ul/UVU 41 Ptl 17. Chrislfendon, Date Community Development Director ACCEPTED BY: .. 8hg 'Al ty LLC Date I Attachments: Exhibit A: Review Criteria Page 4 of 5 EXHIBIT A Section 26.445.100 Amendment of PUD development order A. PUD Insubstantial Amendments. An insubstantial amendment to an approved development order for a final development plan may be authorized by the Community Development Director. The following shall not be considered an insubstantial amendment: 1. A change in the use or character of the development. There is no change in the use or character of the building. 2. An increase by greater than three percent (3%) in the overall coverage of structures on , the 14nd. The there is no increase in coverage. 3. Any amendment that substantially increases trip generation rates of the proposed development or the demand for public facilities. Trip generation and demandfor public services will not be impacted by this amendment. 4. A reduction by greater than three percent (3%) of the approved open space. There is no change to the open space. The building envelope size and activity envelope size does not change. 5. A reduction by greater than one percent (1%) of the off-street parking and loading space. There is no change in the parking/loading space, 6. A reduction in required pavement widths or rights-of-way for streets and easements. There is no change in the ROW's widths, streets or easements. 7. An increase of greater than two percent (2%) in the approved gross leasable floor area of commercial buildings. The approved net leasable floor area ofthe commercial component is reduced by 148 sq. ft. or 1 91 8. An increase by greater than one percent (1%) in the approved residential density of the development. Wa. 9. Any change which is inconsistent with a condition or representation of the project's original approval or which requires granting a variation from the project's approved use or dimensional requirements. The change is consistent with the approved use and the site specific approval Page 5 of 5 DEVELOPMENT ORDER City of Aspen Community Development Depattment This Development Order, hereinafter "Order", is hereby issued pursuant to Section 26.304.070, "Development Orders", and Section 26.308.010, "Vested Property Rights", of the City of Aspen Municipal Code. This Order allows development of a site-specific development plan pursuant to the provisions ofthe land use approvals, described herein. The effective date of this Order shall also be the initiation date of a three 0) -year vested property right. The vested property right shall expire on the day after tile third anniversary of the effective date of this Order, unless the change is accomplished or a building permit is approved pursuant to Section 26.304.075. or unless an exemption, extensions reinstatement, or a revocation is issued by City Council pursuant to Section 26.308.010. After Expiration of vested properly rights, this Order shall remain in full force mid effect, excluding any growth imanagement allotments granted pursuant to Section 26.470, but shall be subject to any amendments to the Land Use Code adopted since the effective date ofthis Order. This Development Order is associated with the property noted below for the site-specific development plan as described below. Property Owner's Name. Mailing Address and telephone number: Jerome Property, LLC, 540 West Madison, Chicago, IL 60661,012) 542-1030. Legal Description and Street Address of Subiect Property: The Hotel Jerome, 330 East Main Street, Lots A-I and Lots O-S, and the easterly 20 feet of LotN and the easterly 170 feet of the vacated alley all in Block 79, City and Townsite of Aspen, Colorado. Parcel ID # 2737-073-21-001. Written Description of the Site Specific Plan and/or Attachment Describing Plan: Insubstantial PUD amendment to reduce the approved net leasable commercial area, increase the floor area allocated to "other" uses, and decrease the overall approved floor area for the site. Land Use Approval Received and Dates: Administrative approval granted on March 19, 2012 Effective Date of Development Order: March 22, 2012, (Saine as date of publication of notice ofapproval.) Expiration Date of Development Order: March 22, 2015. (The extension, reinstatement, exemption from expiration and revocation may be pursued in accordance with Section 26.308.010 of the City of Aspen Municipal Code.) Issued this *nd day of March 2012, by the City of Aspen Community Development Director. 0%* Chris Bendon Community Development Director City ofAspen EXHIBIT NOTICE OF APPROVAL 330 East Main Street, aka the Hotel Jerome Parcel ID No. 2737-073-21-001: APPLICANT: Jerome Properly, LLC 540 West Madison, Chicago, IL 60661 REPRESENTATIVE: Sunny Vann, Vann Associates, LLC P.O. Box 4827, Basalt, CO 81621 970/925-6958 SlTE: The Hotel Jerome. 330 East Main Street, Lots A - I, and Lots O - S, and the easterly 20 feet of Lot N and the easterly 170 feet ofthe vacated alley all in Block 79, City and Townsite of Aspen, Pitkin County, Colorado. PURPOSE: Compliance with City Council Ordinance number 42 (Series of 1006), Section 12: Inventory and Treatment of Interior Features SUMMARY: The PUD amendment approved via Ordinance number 42, series of 2006 (recordation # 533926) required the property owner to create an inventory of original historical elements in public spaces of the Hotel Jerome and to indicate proposed treatment. Community Development must review and approve, or identify changes, to the preservation approach for these features. Section 12 of the Ordinance reads as follows: The applicant is required to submit a written inventory of atl original features existing within those interior areas of the Hotel Jerome that are customarily open to the public, or where the public is typically invited. This inventory must be accompanied by current photographs and copies of any photographs of the interior of the Hotel Jerome available from the Aspen Historical Society Archives, The Historic Preservation Ojjlce will verify the completeness of the inventory. Any overlooked elements that can be documented as original will be added to the list. Said inventory shall identiD proposed treatment of the items thal are on the inventory. The inventory shall be reviewed by the City's Historic Preservation Ojficer. To the extent that there is a disagreement to the proposed treatment, the applicant may appeal lo the City Manager. The City Manager's decision in the matter shalt be subject to an appeal to the City Council as a de novo review. Once the proposed treatment is agreed to by the City and the applicant no changes shall be allowed without the consent of the City's Historic Preservation Oficer, subject to the appeal provisions set forth above. Page lof 2 A significant amount of documentation and findings were made in 2007, but sale of the hotel prevented any remodeling work from moving forward. Rowland and Broughton re-submitted the inventory and noted where the work proposed for 2012 complies with the 2007 discussion and where the work is a departure from the 2007 discussion. Staff finds the work included in the February 1, 2012 inventory chart, attached as Exhibit A, to be appropriate with the following exceptions: 1. Entry #4 (floor tiles): The floor tiles in the lobby, adjacent to the check-in desk, are historic and are required to remain as-is. This was the original staff finding and was upheld through an appeal to the City Manager. Area rugs can be used, but the proposed option to install a wood floor is not approved. 2. Atrium #5 (skylight ceiling): Glass can be re-installed in the lower atrium skylight. Glass specs willbe requked before work goes forward. 3. Other #1 (lobby firenlace and mirror): Removal/replacement ofthe fireplace in the main lobby is not approved. This is considered a historic feature that was ihtroduced during the Paepcke remodel. APPIiOVED,*' ~ - ~ 1 -g.-0 Pt*. It ~ Zo L z.-- Anly Muthhdi Daie Historic ~servation Officer ACCEPTED BY: CK * ( Krome Property LLC Date ATTACHMENTS Exhibit A: Hotel Jerome historic inventory chart dated February 1, 2012. Page 2 of 2 0 94 69. A- persono hotels, List of Historically Significant Items -Interior HoteUetome J Bar #1 Front & Back Bgr To remain as theyari with refurblshment as needed, To remain as they are with refurblshment os needed. Onglnal to the building. but relocated In 1946, Celling Isa repllco according to histork photographs & previous 1 Bar #2 Proded TIn Ceiling To remain In the Â¢entral section of the room. with refurbishment as needed. To remain with rofurbishmant as needed. contractor. J Bar #3 Oil Lamps Inow electfl4 To,omaln @s they @re. ro remain as they Dre. Prevlowly located In alcove5, notwindows. Bash for determination Isthat there Is no ovidence Â»lot this ts NOT J Bar #4 Opening to Lobby Opening to temaln In place, removal not opproved. Opening to remain In place. original. However oarly Sanborn maps shown solld wall. 80$1% for determinotlon Isth@t there Is no evidonce thrt thls Is NOT J Bar #S ' â€¢ 018!nal. Howuver carlysanbom mips show a solid vill, HPC notes Door to lobby 70 remain 0 place To remain in place. that the door matches the J-Bar Intry door. (2) nt the entry vestibulasholj remmin In place. The remalnlng (4) to ba relocated tothercstourant (2) atthe entry vestibule sholl rematn In place. The remalning (4) to remain In place orbe relocated Entry #l Stoarn Ractators corridor. Radiatorsto remiln In historic portton ofthe hotct. to o tocotkon TBD within the historic ketion of the building. To remain In 01@co. Existing stone top tobe replaced to 'Ideally repllate' the orl:Inal miterlols & To rematn In place. tf repliced.the oxistingitono top wlll kieally replicate the original materials & design. No alteration tothe shape ofthe top Is allowed. Thenorthem mostslde panel maybe design. No uteratton to the shop wlll be made. The southern panot will remuln ind be refurblshed Entry #2 Front De5k replaced, but the southern most ponel ts htstorle and must ramotn. 01 neecsâ€¢ry. Entry RIZA Room Key Boxes 1he key boxls not approved tobe ralocated or altored. - The key boxwlll notbe relocated oraltered, Itmay be refurbished Ds necessarÂ¢. To remotn pendng code determination. Tho currontcab liza b dons not comply with code. New Elevator was entlrely replaced In 1985. not histort Verify condition Entry #3 Elevator ' To fematn but with new etciator doors and new Interior. door: and Interior w111 be Installed. of the machlnely, shaft, & doors. Floorttles In the entry ore scheduled to remain. They moy be covered with arna rugs. Interior designers have requested perml=lon to explore options to Inst@110 wood floor and re-use the Blue tile Ire cobalt copper and not reproducible, HPC contends Entry #4 Floor Ttles Ret@in the entlro tile floor In the lobby 15 requlied. Se,lors should be Invidnated. â€¢*Istlng cobalt copoor tiles = a decortio focal point. that tho pattern In historical ond should remuln- Atrtum #1 Interior Columns To remain as 15 or be restored back totheir ortglnal oppeofanco. May restore to their orlglnal oppoorince of black (or very dark color) with white api ot the ceiling. Theyaricurrently polnted foux marble? Stairs, newel posts, 1985. wm be subjectto Building Dept review. All are scheduled to remain as Is,with refurblshment as nceaed. The r@11[ngs ore not code The rallings are not code compllont Leoving them wa: approved In Atrlum 02 ballistic. To remain as Is , with refurblshment os needed. compliant and will require opprovol to remain In place. To remain asts. The dock may be moved â€¢s required forow revised layowL but will remain as dose Atrturn #3 lobby Clock To remain = 8. but be moved i fowketto center in new vall. to It$ original location es pomble. ' Original tothe hotel. Atrlum M Room Call Pe:Ing Device To remain m Is. To remain as Is OrtÂ«Inal to the hotel. Orl:Inalskyllght f,ming 1, to remaln In place. The upper skyllght gle# may onlyto accommodate Removal of theskylight frorntng 1$ not opproved, Roplacoment of glass moy be approved with performance spedflcotlons and assure thot It Is watertleht Codo consultants have odvised thot the Atnum #5 St(yllght Ceiling submittal of glass spodnattons. lower {ori:Ingl) s]MIght fmmIng may require thot *ss be Installed to provide fire separation. The original skyllght ceiling was removed In 1985. HPC notes In ttem EÂ·4 that only tlle In the entrv 15 orl,Irtal. The Atrlum #6 Floor Tile: Removal of floor tile k allowed In the Atrhum Lobby. 190. concern elsewhere seems te be molotatntne the pattern. Jacob's Nl Olnlng Room Chandelters Rolocatlon of these chbndellers wlthln tho pubtle oreas onthe ground floor of tho hote] Is approved. Chondellers In both rooms ore scheduled to be: removed. retained and stored. The chandellers ore from the Piepke era. not original. To rernaln In it$ current position. The 51:e of the room miy be reduced, but the dosign Is scheduled , to rnmaln Intact. The pressed tln ceiling moy be removid to ollow for repilrs above, and will bo Ubfory 01 Pressed Tln Ceiling Remove tiles to repair leaks {piping?) abo,e, add HVAC/Ughting, and rehung. rehung. Ceiling is a reptlca. not original. The door opening Is scheduled to remain In place. The door wtll likely remain as well, but may be Ubror, #2 Ubrary/lobby Door Ihe existing dooropenlnesinw the Ubrary and Front Desk mun be retained!. replaced. , Not ortgln@l but broughtln from the Palmir House Hotel by Other #1 Lobby Areploce & Mlfror To remain @s 5, with refurbkhmentas neÂ«led, Possibly reloate to accommodato a grond, double sided flreplace. Pacpcke. Contun,Room Flreplace & . Not orl:In@l but brought In from the Palmer House Hotel bv Othur#2 Mirror Relocation of the flreplace and mtrrorto the Antler Bor Is approved. Possibly reloate to accommodato 2 grand. double sided fireplace. PaeÂ®ke. , We have notbien abte to locate the referenced list No furniture ts known to bo orlglnot. Furniture Dates ofoll pieces ore unknown, Known antique ware brought to Furniture #1 Furniture All Itemsto be re-used al noted In attached list Imay be reused as desired. ' the site In 1985, but not original. Furniture #2 Mining Maps May be removed entlfely May be replaced or reused as destrad. Notortgrnal. Â®*800./.08/000.82â€¢/88*Aameleameemeaameaaaed, 1!2=.._.EELE,0-.Q.rep,LkÂ»chi 200.75 Curicnt #n Commen:, 411 11 1 111,111,1.1111; 1 11 111,111 1111 1,1 2 11 1. + 6*ki A persona hotels HPC Resolutions - ExteIior HoleUBIDIne All replacement windows on the ground floor must be of wood. Upper floor wlndows are permitted to be clad. Cut sheets must be submitted for review and approval by HPC staff and monitor. If there are any histork wjndows left on the bulldlngthey must be repaired andpreserved. Tinted glass Is not Replace upper windows. Will be wood framed, function exacth,asthey currently do. The glass spec shall approved for any of the window units. Detailed drawings of th window openings proposed to be be clear, r Insulated, low e. Lower (storefrant) windows do not need to be replaced unless required for restored at the sidewalk level on the east facade must be reviewed and approved by HPC staff. and performance standards (Impact resistance?). Frames to be repalnted to match above. Any new doors Window Replacement monitor. need to be styled to match existing. Entry doors are to be refurbished but not replaced. - Awnings are only approved for the J-Bar and 'Jerome Shop' (Ubraryl spaces. Require approval of HPC ' to more closely match historic awnlngs. Must be retractable & removable. Upper awnings must be AwnIngs mocked for approval/denial. No awn,Ing$ will be Installed. Signage HPC will review the proposed signage. Signage will remain as existing Batcony RallIngs Metal balcony rallings onthe extertorofthe bullding must be mocked up for approval/denial of HPC New raillngs wlll not be Installed. No new column features or materials that are Inconsistent with the design of the original columns may Columns be added. ' Building columns will not be altered. Final Ughting Plan Is to be reviewed and approved by HPC. Any added fixtures, particularly sconces, are Site lighting In the plaza will require adjustment for renovatlons. The bullding Is fairly well lit and should Site LIghting to match the original period. HPC supports a destgn competltton forthe entry pendantlamp. remain as It currently. Re#amping to match energy'& exterlorlighting standards may be needed, Historic materials must be repaired In place. Should the parapet require reconstruction, It should be based on documented evidence and photographs of the original appearance. Specific guidellnes for Only necessary repairs will be performed. All must be documented as necessary. Proceedures must meet Masonry Repairs repair must be followed. guidelines for both local and federal standards. The masonry walls need to be analyzed to better understand the Impact of seallng the walls, Should It be deemed to have no negative effect, the process for scaling must be approved and meet both local and Masonry Cleaning/Scaling Cleaning repolnting, applicatton of sealer, etc will require futher Information and approval by HPL federal standards. Sidewalk Treatment Sidewalk tretament must be reviewed and approved bv HPC No decoratlve elements will be Installed In the sidewalk. There should not be any unforeseen conditions onthe exterlorof the building. No deviations should Deviations Must be approved by HPC occur. The canopy may be painted to match comices and window frames only. No reconstruction or alteration Canopy Silent will occur. Cornlces Silent ' Â· The cornices will be repainted to match any revised color scheme of the hotel. Owner shall record a coneptual landscap plan as a part ofthe FInal PUD Development Plan (submltted) and a FInal Landscape Plan for review and approval by the City Parks Department and HPC prior to Issuance of a building permit Owner shall be responsible for implementing the plan, which plans 5hall The current plaza landscaping is not original to the building. The previously submitted Conceptual Plan Site Work be accomplished as subdiviston Improvements In accordance with this agreement was very elaborate, Future efforts will be less than previously planned. ~ Description __ Planned Use DeÂ·,clopment Currentplhn Commerts RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 1 OF 30, r $156.00 , Dll #$0.00 Janice K. Vos udill, Pitkin County, CO OCCUPANCY DEED RESTRICTION AND AGREEMENT AFFORDABLE HOUSING UNITS THIS OCCUPANCY DEED RESTRICTION AND AGREEMENT (the "Deed Restriction") is made and entered into this /day of: 12.wl, 4 , 2014, by and between JEROME PROPERTY LLC, a Delaware limited liability cembany C'Ownef'), and the ASPEN/PITKIN COUNTY HOUSING AUTHORITY, a multi-jurisdictional housing authority established pursuant to the FOURTH AMENDED AND RESTATED INTERGOVERNMENTAL AGREEMENT dated December 20,2007 and recorded on January 2,2008, at Reception No. 545387 in the Office of the Clerk and Recorder of Pitkin County, Colorado ("Housing Authority'l. WITNESSETH: WHEREAS, Owner is the owner in fee simple of Lots P and Q, Block 73, City and Townsite of Aspen, Pitkin County, Colorado on which is situated a renovated structure known as the Cortina Lodge C'Cortina Lodge"); and WHEREAS, the Cortina Lodge contains four (4) studio units and four (4) two-bedroom dormitory suites (each an "Affordable Housing Unit" and collectively, "Affordable Housing Units"), to be deed restricted as Category I rental units ill accordance with the APCHA Guidelines and as they are amended from time to time, together with a common kitchen, dining area and laundry, as authorized and approved by Ordinance No. 42 (Series of 2006) adopted by the Aspen City Council on December 11, 2006 and recorded on January 30,2007, at Reception No. 533926. Floor plans attached hereto as Exhibit A. Unit Number Unit TYDC Net Livable Area Unit 1 Studio 248 square feet Unit 2 Studio 257 square feet Unit 3 Studio 281 square feet Unit 4 Studio 284 square feet Unit 5 2-bdrm. dorm suite 600 square feet Unit 6 2-bdrm. dorm suite 547 square feet Unit 7 2-bdrm. dorm suite 650 square feet Unit 8 2-b<irm. dorm suite 670 square feet The foregoing variation of the Housing Authority's minimum size requirements for Category 1 Affordable Housing Units was approved by the City of Aspen in Section 10 of said Ordinance No. 42 (Series of 2006); and WHEREAS, in accordance wilh said Ordinance No. 42 (Series of 2006) and the 2007 Hotel Jerome PUD Agreement recorded January 30,2007 at Reception No. 533928 in said records, Owner desires by this instrument to deed restrict the use and occupancy of the Affordable Housing Units to persons who are employed in Pitkin County (and their families) and who meet the qualification guidelines set forth in the Aspen/Pitkin County Affordable Housing Guidelines established and indexed by the Housing Authority on an annual basis (the "Guidelines"); and WHEREAS, as set forth in Paragraph 1 (f ) and (g) of that certain Master Termination Agreement recorded on January 30,2007 as Reception No. 533929, attached hereto as Exhibitg, the previous Declaration of Covenants, Restrictions and Conditions for the Corlina Lodge recorded December 16, 1988 in Book 581 at Page 332 as Reception No. 307031, as amended by Amendment to Cortina Declaration of Covenants, Restrictions and Conditions recorded June 12,1991 in Book 648 at Page 373 as Reception No. 333507, shall be deemed fully and forever vacated, terminated, cancelled, released, Cortina Deed Restriction Page 1 RECEPTION#: 576617, 01/10/ Ll at 01:58:05 PM, 2 OF 30, Janice K. Vos Caudill, Pi 1 County, CO extinguished, null, void, and of no further force or effect whatsoever upon the recording of this Deed Restriction. NOW. THER[(FOUF, for ;.,An.â€¢A a...;-- ....1 I.. I /1 ... ~-..-......â€žv. w. u-i. mu,uat covenants and agreements set forth herein and for good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the Owner covenants and agrees as follows: 1. Tbe Affordable Housing Units shall at all times be rented in accordance with the terms of this Deed Restriction and the Guidelines as amended from time to time. 2. The use and occupancy of the A ffordable Housing Units shall henceforth be limited exclusively to rental housing for persons who are employed in Pitkin County (and their families) who meet the definition of"qualified Category 1 employee" as that term is defined by the Guidelines. Owner shall give first priority for occupancy for the Affordable Housing Units to employees of the Hotel Jerome. Any Affordable Housing Unit not rented by Owner to Hotel Jerome employees may be rented to any "qualified Category 1 employee" selected by Owner. If Owner does not lease an Affordable Housing Unit to a qualified employee of its own selection, then the Housing Authority shall select the tenant in accordance with the Guidelines, Employees shall be qualified by the I Iousing Authority as to employment, maximum income and asset limitations. 3. Written verification of employment of employee(s) proposed to reside in an Affordable Housing Unit shall be completed and filed with the Housing Authority by Owner prior to occupancy thereof, and such verification must be accepted by the Housing Authority. 4. An A ffordable Housing Unit shall be rented for periods o f no less than six (6) consecutive months except i f employee resigns or is terminated for cause. If employee resigns or terminated for cause Owner shall be entitled to terminate the lease on at least fourteen (14) consecutive days notice or such greater notice as may be required by Colorado law. Owner shall provide the Housing Authority with an affidavit stating that the employee resigned or was terminated for cause and the date of such action. Upon vacancy of an Affordable Housing Unit, owner is granted forty-five (45) days in which to locate a qualified employee, unless a longer period is authorized by the Housing Authority on a case-by-case basis. Approval for such additional time may be requested by Owner for repair and/or refurbishment of an Affordable Housing Unit, for renovation and/or redevelopment o f the Cortina Lodge property, or for an unexpected breach of the lease agreement by the tenant, and such approval shall not be unreasonably withheld ordelayed by the Housing Authority. Ifa qualified employee is not placed in an Affordable Housing Unit within the above-prescribed period, the Housing Authority may select a qualified tenant for the Affordable Housing Unit, to whom the Owner is required to lease the Unit. 5. The maximum allowed occupancy for the four (4) studio units shall be limited to two (2) persons per unit. The minimum occupancy for the four (4) two-bedroom units shall be two (2) persons per bedroom. 6. The maximum rental rate for an Affordable Housing Unit shall not exceed the Category 1 rental rate as set forth in the Guidelines established by the Housing Authority as part of the Guidelines, subject to annual adjustment as permitted by the Guidelines. The maximum permitted rent for the studio units on the date of execution of this Deed Restriction is $545.00 per month, and the maximum permitted rent for the 2-bedroom dormitory suites on the date of execution of this Deed Restriction is $908.00 per month, or $222.00 per person. Rent shall be verified and approved by the Housing Authority upon submission and approval of the lease. Cortina Deed Restriction Page 2 RECEPTION#: 576617, 01/10/ --. 1 at 01:58:05 PM, 3 OF 30, Janice K. Vos Caudill, Pil County, CO 7. A written lease agreement shall be executed by Owner and the tenant for each occupancy of an Affordable Housing Unit, and shall provide for a minimum rental term of six (6) consecutive months, subject always to Owner's right to terminate the lease if the tenant defaults in the performance of the tenant's obligations thercunder and the Owner's right to terminate the lease as provided in paragraph 4 above. An executed copy of the lease shall be provided to the Housing Authority by Owner within ten (10) days of the Housing Authority's approval of the proposed tenant. 8. Owner agrees to provide the Housing Authority upon request all information reasonably necessary to detennine i f there is full compliance with this Deed Restriction in a timely manner, 9. In the event the Housing Authority has reasonable cause to believe the Owner and/or tenant is violating the provisions of this Deed Restriction, the Housing Authority, by its authorized representative, may inspect the Cortina Lodge or the Affordable Housing Units between the hours of 8:00 a.m, and 5:00 p.m., Monday through Friday, after providing Owner with no less than 24 hours' written notice. 10. The Housing Authority, in the event of a violation of this Deed Restriction is discovered, shall send notice of violation to the Owner and/or tenant, as may be applicable, detailing the nature of the violation and allowing the Owner and/or tenant fifteen (15) days to cum. Said notice shall state that the Owner and/or tenant may request a quasi-judicial hearing before the Aspen/Pitkin Housing Authority Board ("Housing Authority Board") pursuant to the Grievance Procedures ofthe Housing Authority Guidelines within fifteen (15) days to detennine the merits of the allegations. If no hearing is requested and the violation is not cured within the fifteen (]5) day period, the Owner and/or tenant shall be considered in violation of this Deed Restriction. If a hearing is held before the Housing Authority Board, the decision of the Housing Authority Board based on the record ofsuch hearing shall be final for purposes of determining i f a violation has occurred and for the purpose ofjudicial review. 11. There is hereby reserved to the parties hereto any and all remedies provided by law for breach of this Deed Restriction or any of its terms. In the event the parties resort to litigation with respect to any or all provisions of this Deed Restriction, the prevailing party shall recover damages and costs, and shall be awarded its reasonable attorney's fees. 12. In the event an Affordable Housing Unit is leased without compliance herewith, such lease shall be wholly null and void and shall confer no interest whatsoever upon the purported tenant. Each and every lease, for all purposes, shall be deemed to include and incorporate by this reference, the covenants herein contained, even without reference therein to this Deed Restriction. 13. In the event the Owner or tenant fails to cure any breach, the Housing Authority may resort to any and all available legal actions, including, but not limited to, specific performance of this Deed Restriction or a mandatory injunction requiring compliance by Owner and/or tenant. 14. Whenever possible, each provision ofthis Deed Restriction and any other related document shall be interpreted in such a manner as to be valid under applicable law; but if any such provision ahall be invalid or prohibited under applicable law such provision shall be ineffective to the extent of such invalidity or prohibition without invalidating the remaining provisions of this Deed Restriction or other document. 15. This Deed Restriction is to be governed and construed in accordance with the laws of the State of Colorado. Cortina Deed Restriction Page 3 RECEPTION#: 576617, 01/10/ .1 at 01:58:05 PM, 4 OF 30, Janice K. Vos Caudill, Pil i County, CO 16. No claim of waiver, consent or acquiescence with respect to any provision of this Deed Restriction shall be valid against any party hereto except on the basis of a written instrument executed by the parties to this Deed Restriction. However, the party fer whose benefit c :c:dition is ins-:cd herd: shall have the unilateral right to waive such condition. 17. The parties to this Deed Restriction agree that any modifications of this Deed Restriction shall be effective only when made in writing signed by both parties and recorded with the Clerk and Recorder of Pitkin County, Colorado. 18. The terms and provisions of this Deed Restriction shall constitute covenants running with the title to the Cortina Lodge property as a burden thereon for the benefit of, and shall be specifically enforceable by, the Housing Authority, the City of Aspen, Colorado, and their respective successors and assigns, by any appropriate [egal action including, but not limited to, injunction, abatement, or eviction of non-qualified tenants. 19. This Deed Restriction constitutes the placement on the title to the Cortina Lodge o f a deed restriction that limits rent on the property pursuant to a voluntary agreement between Owner and APCHA in accordance with C.R.S. Â§ 38-12-301 (2)(b). IN WITNESS WHEREOF, the parties have hereunto set their bands and seals as of the day and year first written above. OWNER: JEROME PROPERTY LLC, a Delaw*Nimited liability company 1 /11 , B#: U., ponaMR. Wilson, Jr., as Manager STATE OF-Ihâ€¢ANS__ ) ) SS. COUNTY OF Coot - ) The foregoing Deed Restriction was acknowledged before me this B._ day ofJaAU ar 9, 2011, by Donald R. Wilson, as Manager of Jerome Property LLC, a Delaware limited liability compatly Witness my hand and official seal. r-===-1 My commission expires: 9 /,4/ 1 9 ~ NOTARY -C - STATE OF ILL*40*6 1 r-UL~,AJA AMY KIVNEY Notary ti ACCEPTANCE BY HOUSING AUTHORITY The foregoing Deed Restriction and its terms are accepted by the Aspen/Pitkin County Housing Authority this _ day of ,2011. ASPEN/PITKIN HOUSING AUTHORITY Tom McCabe, Executive Director (Nolary on following page) Cortina Deed Restriction Page 4 RECEPTION#: 576617, 01/10/201 t 01:58:05 PM, 5 OF 30, Janice K. Vos Caudill, Pitkin unty, CO 1 STATE OF COLORADO ) ) SS. COUNTY OF PITKIN ) The foregoing Acceptance was acknowledged before me this 12day of CRy#BC , 2011, by Tom McCabe as Executive Director of the Aspec/Pitkin County Housing Authority Board-9 Witness my hand and official seal. budi,- My commission expires: Notary Public / \ 1 CINDY CHRISTE..13).~ NOTARY Fi EV 'f ' My C.:;.11,-AUU ''-534.. J Cortina Deed Restriction Page 5 91L--9 EXH I B IT A poss L ARCI!!T[/TURE - Pt-ANNING 1 N.. vniTTi i (1 OF 2) 1 Â£ 1 1 111111 = 1 -11111~i e Â® I I 4- 0 iii r- â€¢1. 1â€¢"l *I'l' . ..... 1 1 PR'a _ 1 11 .Â©*KXJN 6/23.111 . L. \ (ID 0.1.6 lillim . X-- ' 1__ 1 h- aer rt- O STLDIC /3 r~â€ž . .. 1< 1-1 en Fl~1 1 0 - 1== -IM U 3 ..f r 00 0 0 t-nE_31 m -1 - -~ F ql j 7% GAS STATION o 121 U Â·Â· .----:-004 NEW UNIT SIZES AREAâ€¢ -1111 Â·= 1 - 2/ i , Z -74 L STUDIO #2 257 SF ~_-~ ~ STUDIO #1 248 SF . STUDIO #3 281 SF -- -- A STUDIO 04 284 SF . _ Fl- 51./. â€¢2 UNIT#5 600 SF CORTINA LODGE UNIT #6 547 SF Slrr[ .5 RENOVATION â€¢ NET LIVABLE PER APCHA GOO., I 1-U,nun NOTE: INTERIOR DIMENSIONS MQI FIELD - -2- --- ---/ VERE ED, SO AREAS MAY VARY SLIGHTLY. . -- -- l'illi!11 (EÂ»- -]me'tru -- --- 0 ' ....1/1.. - k -~ 1, I lili .../ L - .Tuo,001 0 /1 0 LE] Â· .. 0 Â° Â·' 1.-I -- 1,ORY ~ *ITCHEI~MTE â€¢ .-I ~ ~ Â·-2 COR.NALIDGE MAIN lf'/EL REFE~ENCE PiAN A-120 / 4 Ul.:.4. i ENTRY DRIVE MA*/ST!~.2. Janice K. Vos Caudill, Pit Co RECEPTION#: 576617, 01/10/'- 1 6 OF 30, tact:rprÂ·=-M,071.0,â„¢1.1.0'le--*,WINLia*.4 f f 1,1 W. 9 EXHIBIT A pors HI ANCjd CURE - pÂ£4~NA. ~ # (2 OF 2) 0 Â· p- -f_ i Â»mi U-J (10 1. 1 1 29 . 0 ...U.. 0 03 01 C 1 01 1 1- -1 1 f I L: -IM.----r--4 *LaN 1 10 1 G " r-*- UNIT. LO cÂ· i//2/40 1-1. R. . r I. Â»DE= 5 11!h 1- 0-0 n , 1-11 100 NEW UNIT SIZES AREAâ€¢ 6 1 .. UNIT#7 650 SF 0 00 UNIT #8 670 SF O â€¢Â· 4 1 00 ! .06Â¢GAS STATION C ' NET LIVABLE PER APCHA. .~ . - - - Ul NOTE: INTERIOR DIMENSIONS NOT FIELD 51 1 1* I VERIFIED. SO AREAS MAY VARY SLIGHTLY. 1,6 . , --- . r.12 ir k - --1 J Â£ 1,4 I -1--*-1 - UN[T â€¢7 1 ./ I ,ep ~-9 NJ :04 ---Â»-40 CORTINA LODGE --- RENOVATION 96 7.~â€¢*Fl ---4 6 1 6 19 - 4 'W;Wfpi, .A .4 m ~adullhm mt ' i ' =C ....4 g I ll 1 1 - 4,PW.l KITCIT~EP i */ CE -- 3 1~ . b , UUP L rPER LEVEL CURÂ¥1>â€¢A LE)..;t REFEREMJE FLAI d 1 11 A-130 0.11 ....==. ON#: 57 617, 01/10/n-11 at PM, 7 OF 30, 1 COUn ~ILLM.I 16511:01 RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 8 OF 30, Janice K. Vos Caudill, Pit County, CO A .A 6 EXHIBIT ~ 533928 Pag.; 1 of 23 i B 01/30/2007 02:241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 0 0.00 ---4 2007 HOTEL JEROME PUD AGREEMENT THIS 2007 HOTEL JEROME PUD AGREEMENT (the "2007 PUD Agreement") is made and entered into this 3 0 day of det-.woÂ», , 2007, by and between THE CITY OF ASPEN, COLORADO, a municipal co*oration (hehinafter referred to as "City"), and HOTEL JEROME, INC., a Delaware corporation (hereinafter referred to as "Owner"), WITNESSETH: WHEREAS, Owner has submitted to the City an application (the "Application") for a PUD Amendment to permit the renovation of the Hotel Jerome property located at 330 East Main Street in Aspen, Colorado, said property being more particularly described as Lots A-I and Lots O-S and the Easterly 20 feet of Lot N and the Easterly 170 feet of the vacated alley, all in Block 79, City and Townsite of Aspen, Pitkin County, Colorado (the "Hotel Jerome Property"), and the renovation of the Cortina Lodge property described as Lots P and Q, Block 73, City and Townsite of Aspen, Pitkin County, Colorado (the "Cortina Lodge Property'D (collectively, the "Property"), which application requests the approval and recordation of a Hotel Jerome Final PUD Development Plan and related documents (collectively, the "Final PUD Development Plan"); and WHEREAS, City has fully considered the Application, the Final PUD Development Plan, the proposed development and improvement of the Property, and the effects of the proposed development and improvement of said Property on adjoining or neighboring properties and property owners and on the Aspen community; and has determined that the development proposal set forlh in the Application meets or exceeds all applicable development standards and that the approval of the Application, with conditions, is consistent with the goals and elements of the Aspen Area Community Plan; and WHEREAS, City has imposed certain conditions and requirements in connection with its approval of the Application and its approval and recordation of the Final PUD Development Plan, such matters being necessary to protect, promote and enhance the public welfare; and WHEREAS, Owner is willing to acknowledge, accept, abide by and faithfully perform the conditions and requirements imposed by City in approving the Application and the Final PUD Development Plan; and WHEREAS, under the authority of Sections 26.445.070.C and 26.480.070. C and D of the Aspen Municipal Code, City is entitled to certain financial guarantees to ensure (i) that the required improvements to the public right-of-way are installed and (ii) that the required landscaping is implemented and maintained, and Owner is prepared to provide such guarantees as hereinafter set forth; and WHEREAS, contemporaneously with the execution and recording of this 2007 PUD Agreement, City and Owner have recorded the Final PUD Development Plan as Reception 1 RECEPTION#: 576617, 01/10/~-11 at 01:58:05 PM, 9 OF 30, Janice K. Vos Caudill, Pi 1 County, CO 111-111 lilli 111111 lill 111111111~111111111 lili - 11 P.ge: 2 of 23 533928 01/30/2007 02:24; JAN.CE K VOS CAUDILL PITK N COUNTY CO R 116.00 0 0.00 No. 858 9/7 in the Office of the Clerk and Recorder ofPitkin County, Colorado. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and the approval and acceptance for recordation by City ofthe Final PUD Development Plan, and for other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: ARTICLE] PURPOSE AND EFFECT OF 2007 PUD AGREEMENT 1.1 Purpose. The purpose ofthis 2007 PUD Agreement is to set forth the complete and comprehensive understanding and agreement of the parties with respect to the renovation of the Hotel Jerome and the Cortina Lodge and to enumerate all terms and conditions under which such renovations may occur. 1.2 Effect. It is the intent of the parties that this 2007 PUD Agreement shall effectively supersede and replace in their entirety certain previously recorded plats, PUD agreements, protective covenants, and land use approvals that encumber the Hotel Jerome Property and/or the Cortina Lodge Property, including without limitation those matters identified in Article VI below (collectively, 1he "Prior Instruments and Approvals"), and City and Owner agree to cooperate in the execution and recording of such documents as may be necessary or appropriate to accomplish the vacation and/or termination of said Prior Instruments and Approvals. The parties anticipate lhat these recordings will take place contemporaneously with the recording ofthe Final PUD Development Plan. However, a delay in the recording of any such vacation/termination documents shall not affect or delay the recording of this 2007 PUD Agreement or the Final PUD Development Plan. All prior land use approvals associated with the Hotel Jerome Property that are not identified as Prior Instruments and Approvals in Article VI below shall remain unmodified hereby and in full force and effect. ARTICLE II ZONING AND REGULATORY APPROVALS 2.1 Approval Ordinance and Resolutions. (a) Pursuant to Ordinance No. 42 (Series of 2006) adopted on December 11, 2006, the Aspen City Council granted final approval of a PUD Amendment for the Hotel Jerome including an extensive renovation of the existing Hotel Jerome, an expansion of the Hotel's existing net leasable commercial area, the reconfiguration and renovation of the Hotel's Main Street and Mill Street courtyards, and the elimination of a prior condition that a portion of the Hotel's parking garage be reserved for Hotel employees. The PUD Amendment also approved the renovation of the existing Cortina Lodge to meet the Hotel's employee housing mitigation requirements. (b) Pursuant to Resolution No. 37 (Series of 2006) adopted on December 13, 2006, the City of Aspen Historic Preservation Commission (the"HPCD granted final development plan approval for the contemplated renovation of the Hotel Jerome. 2 RECEPTION#: 576617, 01/10/ .1 at 01:58:05 PM, 10 OF 30, Janice K. Vos Caudill, Pil i County, CO Â· 533928 111111111111111111 lili 111111 lili 1111111111111 lili lili 01/30/2007 02:24; Pâ€¢gâ€¢: 3 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 0 0 00 (c) Pursuant to Resolution No. 6 (Series of 2006) adopted on March 8,2006, the HPC granted minor development approval for the renovation of the Cortina Lodge. (d) This 2007 PUD Agreement incorporates all of the pertinent provisions of Ordinance No. 42 and HPC Resolution Nos. 6 and 37. In the event of any inconsistency between the provisions of Ordinance No. 42, HPC Resolution No. 6 and/or HPC Resolution No. 37, and the provisions of this 2007 PUD Agreement, the provisions of this 2007 PUD Agreement shall control. 2.2 Dimensional Requirements for Hotel Jerome. Ordinance No, 42 established and approved the following dimensional requirements for the Hotel Jerome PUD: (a) Minimum Lot Size 47,735 sq. ft. (b) Minimum Lot Area Per Dwelling Unit N/A-No Dwelling Units (c) Maximum Allowable Density 94 Lodge Units (d) Minimum Lot Width* 170 feet (e) Minimum Front Yard Setback* None (f) Minimum Side Yard Setbacks* None (g) Minimum Rear Yard Setback* None (h) Maximum Height ' 54 feet at Northeast Corner of Existing Building (i) Minimum Distance Between Buildings N/A-Single Structure 0) Minimum Percent Open Space* Per Existing Conditions (k) Trash Access Area Per P&Z Resol. No. 8-86 (1) Allowable Floor Area 114,934 sq. ft. Commercial: 15,985 sq. ft. Lodge Units: 59,214 sq. ft. Other: 39,735 sq. ft. (rn) Minimum Off-Street Parking 47 spaces * Per Land Survey Plat dated October 24,2006 to be recorded with Final PUD Development Plan 2.3 Vested Riehts. Under Development Order of the City ofAspen Community Development Department issued January 5,2007 with an effective date of January 14,2007 (the "Development Order"), the right to undertake and complete the development and use of the Hotel Jerome Property and the Cortina Lodge Property pursuant to the terms and provisions of this 2007 PUD Agreement and the Final PUD Development Plan is vested until January 14, 2010, and shall not be altered, impaired, diminished or delayed by any subsequent zoning or land use action that is prohibited by Section 24-68-105(1) of the Colorado Revised Statutes. In accordance with the requirements of CRS Section 24-68-103(b), a properly noticed public hearing concerning the establishment of such vested rights for the Property was conducted on December 11,2006. As authorized by CRS Section 24-68-102(4)(a), City and Owner agree that the site specific plan for the Property consists of and includes, but is not limited to, the number, permitted size, and configuration of the Hotel's lodge units, the commercial areas, the parking 3 RECEPTION#: 576617, 01/10/-011 at 01:58:05 PM, 11 OF 30, Janice K. Vos Caudill, Pi n County, CO 533928 1 BiI#ii 11#1 mi; Ii;i jimi 1,1 iI'll' 10 liII# mii ijiI 01/30/2007 02:24; Page: 4 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 0 0.00 spaces, and the other spaces and areas in the Hotel Jerome; the number, permitted size, and configuration ofthe affordable housing units and the other spaces and areas in the Cortina Lodge; the number of employees mitigated by the Cortina Lodge; and all other matters set forth in Ordinance No. 42 (Series of 2006), HPC Resolution Nos. 6 and 37 (Series of 2006), the Hotel Jerome Final PUD Development Plan recorded..,448â€¢Pryli, 2007 as Reception No. â‚¬059&1, this 2007 Hotel Jerome PUD Agreement, and all other documents and plans recorded concurrently therewith. For purposes of this Section 2.3, this 2007 PUD Agreement shall be considered a "development agreement" as that term is used in CRS Section 24-68- 104(2). ARTICLE III DEVELOPMENT REQUIREMENTS AND RESTRICTIONS - HOTEL JEROME, 3.1 Hotel Jerome Comoonent. The renovated Hotel Jerome will contain (i) 94 lodge units containing a maximum of 59, 214 square feet of floor area, calculated in accordance with the City's floor area regulations in effect on January 5,2007 (the date of the Development Order), which floor area regulations are attached hereto as Exhibit A and made a part hereof by this reference (the "Floor AreaRegulations"), (ii) 14,891 square feet ofnetleasable commercial area, (iii) 47 parking spaces located in the Hotel garage, and (iv) various back-of-house facilities and areas containing a maximum of 39,735 square feet of floor area. The prior requirement that 27 of the Hotel's on-site parking spaces be reserved for Hotel employees is hereby fully and forever waived and terminated. 3.2 Cortina Lodge Component. (a) The renovated Cortina Lodge will contain (i) four (4) studio units in the Lodge's one-story structure, ranging from 264 square feet to 299 square feet of net livable area, (ii) four (4) two-bedroom dormitory suites with a shared bath and individual closets in the Lodge's two-story structure, ranging from 535 square feet to 659 square feet of net livable area, and (iii) a common kitchen, dining area and laundry. The net livable areas set forth above are approximations only, and the final unit sizes will be in substantial conformity therewith. City hereby approves the foregoing variation of the Aspen/Pitkin County Housing Authority ("APCHA") minimum size requirements for Category 1 units. The renovated Cortina Lodge shall be credited with housing 21 employees. (b) The eight (8) affordable housing units in the Cortina Lodge (the "Affordable Housing Units") must be deed restricted to APCHA's Category 1 income and occupancy rental guidelines, and a Certificate of Occupancy must be issued therefor, before a Certificate of Occupancy will be issued for the Hotel Jerome renovation. The deed restriction will be in substantial conformity with the form of Dccd Restriction attached hereto as Exhibit B and made a part hereof by this reference. The Deed Restriction provides that any units not rented to Hotel Jerome employees may be rented to any employee that qualifies under APCHA Guidelines. 4 RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 12 OF 30, Janice K. Vos Caudill, Pit County, CO 533928 01/30/2007 02 : 24; Page: 5 of 23 JANICE K VCS CAUDILL PITKIN COUNTY CO R 116.00 0 0.00 (c) The Declaration of Covenants, Restrictions and Conditions for the Cortina Lodge recorded December 15, 1988 in Book 581 at Page 332; Resolution No. 1 (Series of 1987) ofthe Aspen City Council recorded June 6, 1990 in Book 622 at Page 347; and the Amendment to Cortina Declaration of Covenantq; Restrictiong and Conditions recorded June 12,1991 in Book 648 at Page 373, will be deemed fully and forever terminated ujion'the recording of the new Deed Restriction on the Affordable Housing Units, a copy ofwhich is attached hereto as Exhibit B. (d) Unless a different arrangement is worked out with the City, and only to the extent necessary to comply with applicable Colorado law, at the time of recording ofthe deed restriction Owner will convey a one-tenth of one percent interest in the Cortina Lodge Property to APCHA. Said one-tenth of one percent interest is hereinafter referred to as the "APCHA Interest". The conveyance of the APCHA Interest shall be expressly subject to the understanding and agreement of Owner and APCHA that (i) ownership of the APCHA Interest only gives APCHA the right to enforce the deed restriction on the Affordable Housing Units, and does not give APCHA any authority or rights that are not specifically set forth in the deed restriction, (ii) in all other respects, APCHA shall be deemed to have no ownership interests, rights or responsibilities in connection with the Affordable Housing Units or the Cortina Lodge Property, and the record owner of the remaining interest in the Cortina Lodge Property shall have full right and authority to lease, encumber, or otherwise deal with the Cortina Lodge Property and the Affordable Housing Units therein as if such owner held a 100 percent ownership interest therein (iii) APCHA shall have no liability to third persons arising solely out of its ownership of the APCHA Interest, and Owner (and any successor or assign of Owner in the ownership ofthe Cortina Lodge Property) shall indemnify APCHA and the City from and against any claims, liabilities, losses, damages, fees or expenses arising solely out of the ownership of the APCHA Interest, and (iv) the APCHA Interest will be conveyed to the then record owner of the remaining interest in the Cortina Lodge Property if and when the Colorado legislature or a court of competent jurisdiction legalizes the imposition of rent restrictions on affordable housing units. Ce) Owner reserves the right to provide substitute affordable housing for the affordable housing being provided in the Cortina Lodge, subject to the prior approval of the City of Aspen. 3.3 Affordable Housing Mitigation. The renovated Hotel Jerome' s additional net teasable commercial area will require affordable housing mitigation for a total of 1.42 employees, one (1) of which will be housed at the renovated Cortina Lodge. The remaining 0.42 employees will bc mitigated by a cash-in-lieu payment by Owner to the City prior to issuance of a Building Permit for the Hotel renovations. The amount of such payment shall be calculated based on an average of APCHA's Category 2 and Category 3 payment-in-lieu fees in effect at the time of Building Permit submittal. 3.4 Construction in Accordance with Plans and HPC Resolutions. 5 RECEPTION#: 576617, 01/10 11 at 01:58:05 PM, 13 OF 30, R Janice K. Vos Caudill, Pi n County, CO 533928 Page: 5 of 23 01/30/2007 02:24; JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 0 0.00 (a) Hotel Jerome. The Hotel Jerome renovation, and all of its component parts, shall be accomplished in substantial compliance with the Hotel Jerome Final PUD Development Plan and with all architectural plans and elevations, utility plans, drainage plans, and landscape plans that are recorded contemporancously with the recording of this 2007 PUD Agreement. In addition, the Hotel Jerome renovation shall comply with the conditions of approval set forth in HPC Resolution No. 37 (Series of 2006), to wit: (i) All replacement windows on the ground floor must be of wood. Upper floor windows are permitted to be clad, Cut sheets must be submitted for review and approval by HPC staff and monitor. If there are any historic windows left on the building, they must be repaired and preserved. Tinted glass is not approved for any of the window units. Detailed drawings ofthe window openings proposed to be restored at the sidewalk level on the east favade must be reviewed and approved by HPC staff and monitor. (ii) Awnings are only approved for the J-Bar and "Jerome Shop" spaces. The proposed awnings must be redesigned for review and approval by HPC staff and monitor in order to more closely match the historic awnings. The awnings for the J-Bar and "Jerome Shop" will be retractable and removable. Upper awnings must be mocked-up for review and approval or denial by the HPC Board. HPC staff and monitor will review proposed signage. oii) Metal balcony railings on the exterior of the building must be mocked-up for review and approval or denial by the HPC Board. (iv) No new column features or materials that are inconsistent with the design ofthe original columns can be added. (v) The Final Lighting Plan must be reviewed and approved by HPC staff and monitor, as set forth in Section 3.8(a) below. The proposed decorative exterior light fixtures, in particular sconces, must be restudied to be less contemporary. The HPC Board supports a design competition for the pendant lamp at the Hotel entry, with the understanding that the HPC staff and monitor must still grant approval. (vi) Any historic materials must be repaired in place, and to the extent that portions of the parapet require reconstruction, it should be based on documented evidence and photographs of the original appearance. (vii) All other masonry repairs, including cleaning, repointing, application of a sealer, cte., will require further information and approval by HPC staff and monitor. (viii) The sidewalk treatment must be reviewed and approved by staff and monitor. 6 RECEPTION#: 576617, 01/10/ L at 01:58:05 PM, 14 OF 30, Janice K. Vos Caudill, Pit County, CO 533928 Page: 7 of 23 el/30/2007 02:24; JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 0 0.00 (ix) There shall be no deviations from the exterior elevations as approved without first being reviewed and approved by HPC staff and monitor, or the full HPC Board. (x) These conditions ofapproval must be printed on the cover sheet of the building permit plan set and all other prints made for the purpose of construction. (b) Cortina Lodge. The Cortina Lodge renovation and reconfiguration, and all component parts thereof, shall be accomplished in substantial compliance with the architectural plans and elevations therefor that are recorded contemporaneously with the recording ofthis 2007 PUD Agreement. In addition, the Cortina Lodge renovation and reconfiguration shall comply with the conditions ofapproval set forth in HPC Resolution No, 6 (Series of 2006), to wit: (i) Owner shall provide further information about lighting and any exterior utilities or conduit for review and approval by HPC staff and monitor before purchase or installation of same. (ii) Owner shall retain existing door and window openings wherever possible, even if such openings are made non-functional. Revisions shall be reviewed by HPC staff and monitor. (iii) Owner shall install a front door on the two-story structure and a more appropriate window on the laundry room, guided by old photographs if available. (iv) There shall be no deviations from the exterior elevations as approved without first being reviewed by HPC staff and monitor, or by the full HPC board. (v) These conditions of approval shall be printed on the cover sheet of the building permit plan set and on all other prints made for the purpose of construction. (vi) Owner shall provide the contractor with a copy of HPC Resolution No. 6 (Series of 2006), and the contractor shall submit a letter addressed to HI'C staff as part of the building permit application indicating that all conditions of approval contained in said Resolution are known and understood. The contractor shall also meet with the Historic Preservation Officer prior to applying for the building permit. 3.5 Guest Transportation. Owner shall provide transportation within the City of Aspen and Aspen airport pickup and delivery for the guests of the Hotel Jerome. Any vehicle owned, possessed or operated for such purpose by Owner shall be stored in the Hotel's underground garage when not in operation. 3.6 Inventorv and Treatment of Interior Features of Hotel Jerome. (a) Prior to or contemporaneously with submittal of an application for a building permit for the Hotel Jerome renovation, Owner shall submit to the Historic 7 RECEPTION#: 576617, 01/10 'll./ 11 at 01:58:05 PM, 15 OF 30, Janice K. Vos Caudill, Pi n County, CO Illilll lili Illul lili lili lili Illilll lilli lil li 533928 Page: 8 of 23 01/30/2007 02:241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 118,00 D 0.00 Preservation Officer a written inventory of all original features existing within those interior areas of the Hotel Jerome that are customarily open to the public, or where the public is typically invited. The inventory must be accompanied by current photographs, and copies of any photographs of the interior ofthe Hotel Jerome available from the Aspen Historical Society Archives. (b) The City's Historic Preservation Officer shall review the inventory and shall verify the completeness thereof. Any overlooked elements that can be documented as original shall be added to the inventory. The inventory shall also identify the proposed treatment ofthe items on the inventory. To the extent there is any disagreement between Owner and the Historic Preservation Officer, the Owner may appeal the matter to the City Manager. The City Manager's decision in the matter shall be final, unless such decision is appealed by the Owner to the City Council, which body shall then conduct a de novo review ofthe issue. (c) Once the proposed treatment is mutually agreed upon by City and Owner, no changes in treatment shall be allowed without the prior consent of the Historic Preservation Officer, subject to the appeal rights of Owner described in Section 3.6(b) above. 3.7 Cortina Lodge Historic Landmark Designation. Before a building permit is issued for the renovation of the Hotel Jerome, Owner shall submit to the HPC an application for Historic Landmark Designation for the Cortina Lodge pursuant to Section 26.415.030.B ofthe Aspen Municipal Code, "Criteria for Listing on Aspen Inventory ofHistoric Landmark Sites and Structures". 3.8 Hotel Jerome Landscape Improvements. (a) Owner shall record a Conceptual Landscape Plan for the Hotel Jerome Property as part of the Final PUD Development Plan, and shall submit a Final Landscape Plan for the Hotel Jerome Property for review and approval by the City Parks Department and the HPC staff and monitor prior to issuance of a building permit for the Hotel renovation (the "Final Landscape Plan'D, Owner shall be responsible for implementing the Final Landscape Plan, and landscaping improvements shall be accomplished as subdivision improvements in accordance with Article IV of this 2007 PUD Agreement. (b) All landscaping in the public right-of-way shall meet the requirements set forth in Municipal Code Chapter 21.20, Trees and Landscaping on Public Right-of-Way, and shall be approved by the City Parks Department prior to installation. Before installing any landscaping or other improvements in the public right-of-way, Owner shall obtain a Revocable Encroachment License OIl the event required) from the City Engineering Department. (c) Owner shall obtain a tree removal permit from the Parks Department and pay the applicable tree removal fee (in the event required) prior to issuance of a building 8 RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 16 OF 30, Janice K. Vos Caudill, Pit County, CO 1 1 Illl Il Illill - lilli 1 1-lilli Ill lillil- lilli 533928 Pap; 9 of 23 01/30/2007 02:24; JA'..CE K VOS . ..u:LL rIT...N COUNTY CO R 116,00 0 0.00 permit for the Hotel renovation. The permit shall be submitted with the building permit application. (d) Owner shall insiall tree saving construction fences around the drip line of any trees to be saved on the Hotel Jerome Property as approved by the Parks Department. The Parks Department must inspect and approve the fence location before any construction activities commence. No storage of materials, storage of construction equipment, construction backfill, or foot or vehicular traffic shall be allowed within the fenced drip line. Any work and/or minor excavation for the installation of additional landscaping, property fences and surface materials located within the drip line protection zone will be required to be hand excavation only with no over digging. All work within the drip line requires oversight from the Parks Department for approval of soil amendments, root pruning and grade changes. Excavations outside of the tree protection zone shall address tree and root protection in the following way: All roots shall be cut prior to full excavation using a clean sharp pruning saw; all roots will be cut flush with the exposed soil line; six inches of mulch is required to be placed within the zone of vegetation protection and maintained at a level of six inches during the entire project; irrigation of trees is required throughout the entire duration ofthe project with the contractor supplying water to the trees at a rate which is appropriate for proper health. burtap shall be placed over the edge of the excavation covering all freshly cut roots; contractor will irrigate the burlap with an appropriate amount of water in order to keep the burlap moist, preventing the ends o f the roots from drying out. 3.9 Utilities. (a) Owner shall comply with the City of Aspen Water System Standards, with Title 25, and with applicable standards of Title 8 (Water Conservation and Plumbing Advisory Code) of the Aspen Municipal Code, as required by the City Water Department. (b) Owner shall comply with the Aspen Consolidated Sanitation District's rules and regulations. No clear water connections (roof, foundation, perimeter drains) shall be allowed to ACSD lines. A completed tap permit for service with the District shall be submitted with the building permit application for the Hotel renovation. (c) Owner shall comply with all Fire Marshal requirements in connection with the Hotel renovation. 3.10 Enzineerine Requirements and Conditions. (a) No construction material or dumpsters shall be stored on the public rights- of-way unless a temporary encroachment license is obtained from the City Engineer. (b) Owner shall submit a construction management plan to the City Engineering Department with the building permit application for the Hotel renovation, and shall abide by any additional construction management requirements in effect when 9 , RECEPTION#: 576617, 01/10/~-11 at 01:58:05 PM, 17 OF 30, Janice K. Vos Caudill, Pi n County, CO 533928 P.ge: 10 of 23 01/30/2007 02;241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 D 0.00 the building permit application is filed. The management plan shall include a noise, fugitive dust control, and construction traffic and construction parking management plan which address, at a minimum, the following issues: (i) A fugitive dust control plan including proposed construction fencing, watering of haul roads and disturbed areas, daily cleaning ofadjacent paved roads, construction speed limits, and other measures necessary to prevent windblown dust from crossing the property line. (ii) A description of construction debris hauling routes and associated impacts on adjoining streets; and (iii) Construction parking mitigation. Except for essential trade trucks, no other personal trucks shall be parked in the area around the site. The City encourages that site workers be shuttled in from the airport parking area. (iv) Owner shall not track mud onto City streets during construction. A washed rock or other style mud rack must be installed during construction. (v) Owner shall abide by all noise ordinances. Construction activity is limited to the hours between 7:00 a.m. and 7:00 p.m. on Monday through Saturday. 3.11 Air Oualitv Impact Fee. Before a building permit is issued for the Hotel renovation, Owner shall pay to the City an Air Quality Impact Fee in an amount calculated in accordance with the regulations in effect at the time of building permit submittal. 3.12 Park Development Imnact Fee. Before a building permit is issued for the Hotel renovation, Owner shall pay to the City a Park Development Impact Fee in an amount calculated in accordance with the methodology and fee schedule in effect at the time of building permit submittal. No new bedrooms or commercial space are being created at the Cortina Lodge, hence no Park Development Impact Fee is due and payable in connection with that project. 3,13 School Land Dedication Fee. No School Land Dedication Fee is required for either the Hotel renovation or the Cortina Lodge renovation, as no subdivision of either Property is occurring or approved. 3.14 Exterior Lighting. All exterior lighting within the Hotel Jerome Property shall comply with Section 26.575.150, Outdoor Lighting, ofthe Aspen Municipal Code unless otherwise exempted by the Community Development Director. A Lighting Plan shall be submitted for review and approval by the HPC Monitor prior to issuance of a building permit for the Hotel renovation. 3.15 Building Permit Matters. Prior to issuance ofa building permit for the Hotel renovation, the following shall occur: 10 RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 18 OF 30, Janice K. Vos Caudill, Pit County, CO 10/1/ IN11'llill/111/lil Illl kill'll /#I'll'l -lilli 533928 Page: 11 of 23 01/30/2007 02:241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 118.00 D 0.00 (a) The primary contractor shall submit a letter to the Community Development Director and to HPC staff stating that the conditions ofapproval ofthe Hotel renovation have been read and understood including, without limitation, the conairions ser forth in HPC Resolution No. 37 (Senes of 2006), and must meet with the Historic Preservation Officer before submitting the building permit application. (b) The primary contractor and/or superintendent shall obtain a specialty license in historic preservation. (c) All tap fees, impact fees, housing fees and building permit fees shall be paid. If an alternative agreement to delay payment of the Water Tap and/or Parks Impact fee is finalized, those fees shall be payable according to the agreement. (d) Prior to any demolition, Owner shall complete the Building Department's asbestos checklist and, if necessary, a person licensed by the State of Colorado to perform asbestos inspections shall conduct an inspection. The Building Department cannot sign any building permits until submittal of this report. If there is a finding of no asbestos, the demolition can proceed. If asbestos is present, a licensed asbestos removal contractor must be retained to remove it, ARTICLE IV A. HOTEL JEROME LANDSCAPING IMPROVEMENTS Owner shall complete the landscaping of the Hotel Property and of the adjoining public right-of-way in accordance with the Final Landscape Plan referred to in Section 3.8(a) above, no later than six (6) months following the issuance of a Certificate of Occupancy for the Hotel renovation. Owner shall be responsible for ensuring the success of all landscaping installed pursuant to the Final Landscape Plan for a period of two (2) years following the date of installation, and shall replace any landscaping that fails during such two (2) year period. Owner or it successors or assigns shall have the right to plant additional native vegetation within the Hotel Property, as it may consider appropriate from time to time, without further approvals being required. Before a building permit is issued for the renovation, Owner shall provide the City Engineering Department and the City Parks Department with a cost estimate for the proposed landscaping improvements (including two (2) years ofmaintenance thereof) prepared by a landscaping contractor licensed in the State of Colorado, and the Engineering Department shall approve the cost estimate. B. FINANCIAL ASSURANCES In order to ensure construction and installation of the landscaping improvements described in Section A above, and to guarantee 125 percent of the approved estimated cost of the landscaping improvement (including two (2) years of maintenance thereof), Owner shall provide to the City an irrevocable letter of credit from a financially responsible lender in the amount of the approved estimated cost of such landscaping improvements. Said letter of credit shall be provided to the City prior to the issuance of a building permit for the Hotel renovation, shall be 11 RECEPTION#: 576617, 01/10'-011 at 01:58:05 PM, 19 OF 30, Janice K. Vos Caudill, Pi n County, CO 533928 illiul lill linu illi linlizillullill n illilluill i 01/30/2007 02:24; Page: 12 of 23 JANICE K VOS CAUDILL PITKIN Colm.TY CO R 116,00 D 0.00 in a form reasonably acceptable to the City Attorney and the City Manager, and shall give the City the unconditional right, upon default by Owner, to draw funds as necessary and upon demand to partially or fully complete and/or pay for any of such improvements or pay any outstanding and delinquent bills for work done thereon by any party, with any excess letter of credit amount to be applied first to additional administrative or legal costs associated with any such default and the repair or deterioration in improvements already constructed before the unused remainder, if any, of such letter of credit is released to Owner. Provided, however, that Owner shall be given fourteen (14) days' written notice of default (and the right to cure during said period) prior to the City's ability to make a draw under the letter of credit. Notwithstanding the foregoing, delays or other problems resulting from acts of God or other events beyond the reasonable control of Owner shall not constitute a default hereunder so long as a good faith effort is being madc to remedy the problem and the problem is in fact resolved within a reasonable period of time following its occurrence. As portions of the improvements required are completed, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize a reduction in the outstanding amount ofthe letter of credit equal to the agreed estimated cost for the completed portion of the improvements; provided, however, that twenty-five percent (25%) of the estimated cost thereof shall be retained until the landscaping improvements have been maintained in a satisfactory condition for two (2) years. It is the express understanding of the parties that compliance with the procedures set forth in Article V below pertaining to defaults under and amendments to this 2007 PUD Agreement shall not be required with respect to the enforcement and implementation of these financial assurances and guarantees to be provided by Owner as set forth above. ARTICLE V NON-COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS In the event that the City Council determines that Owner is not acting in substantial compliance with the terms of this 2007 PUD Agreement, the City Council shall notify Owner in writing specifying the alleged non-compliance and asking that Owner remedy the alleged non- compliance within such reasonable time as the City Council may determine, but not less than 30 days. If the City Council determines that Owner has not complied within such time, the City Council may issue and serve upon Owner a written order specifying the alleged non-compliance and requiring Owner to remedy the same within thirty (30) days. Within twenty (20) days ofthe receipt of such order, Owner may file with the City Council either a notice advising the City Council that it is in compliance or a written petition requesting a hearing to determine any one or both of the following matters: (a) Whether the alleged non-compliance exists or did exist, or (b) Whether a variance, extension of time or amendment to this 2007 PUD Agreement should be granted with respect to any such non-compliance which is determined to exist. 12 RECEPTION#: 576617, 01/10/2 at 01:58:05 PM, 20 OF 30, Janice K. Vos Caudill, Pitk County, CO 533928 01/30/2007 02:241 Page: 13 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 118.00 0 0.00 Upon the receipt of such petition, the City Council shall promptly schedule a hearing to consider the matters set forth in the order of non-compliance and in the petition. The hearing shall be convened and conducted pursuant to the procedures normally established by the City Council for other hearings. It the City Council determines by a preponderance of the evidence that a non-compliance exists which has not been remedied, it may issue such orders as may be appropriate, including the imposition of daily fines until such non-compliance has been remedied, the withholding of permits and/or certificate of occupancy, as applicable; provided, however, no order shall terminate any land use approval. The City Council may also grant such variances, extensions oftime or amendments to this 2007 PUD Agreement as it may deem appropriate under the circumstances. The parties expressly acknowledge and agree that the City Council shall not unreasonably refuse to extend the time periods for performance hereunder if Owner demonstrates by a preponderance of the evidence that the reasons for the delay(s) which necessitate said extension(s) result from acts of God or other events beyond the reasonable control of Owner, despite good faith efforts on its part to perform in a timely manner. ARTICLE VI PRIOR INSTRUMENTS AND APPROVALS 6.1 Amended and Restated Planned Unit Development Agreement - Hotel Jerome - Renovation and Addition recorded September 15, 1986 in Book 518 at Page 921 as Reception No. 281483. 6.2 Supplemental PUD Agreement - Hotel Jerome recorded June 12, 1991 in Book 648 at Page 376 as Reception No. 333508 and rerecorded July 9, 1991 in Book 650 at Page 952 as Reception No. 334427. 6.3 Amended and Restated Planned Unit [*velopment Plat - Hotel Jerome - recorded September 15, 1986 in Plat Book 19 at Pag~ and related drawings recorded contemporaneously therewith. 6.4 Second Amendment to Amended and Restated Planned Unit Development Plat - Hotel Jerome - recorded July 1,1991 in Plat Book 26 at Page 89. 6.5 Ordinance No. 70 (Series of 1990) of the Aspen City Council, amending the Final PUD Development Plan for the Hotel Jerome. 6.6 Declaration of Covenants, Restrictions and Conditions for the Cortina Lodge recorded December 16, 1988 in Book 581 at Page 332 as Reception No. 307031. 6.7 Amendment to Cortina Declaration of Covenants, Restrictions and Conditions recorded June 12, 1991 in Book 648 at Page 373 as Reception No. 333507. 6,8 Resolution No. 1 (Series of 1987) of the Aspen City Council, granting substitution of Cortina Lodge Employee Units for On-Site Hotel Jerome Employee Units, recorded June 6, 1990 in Book 622 at Page 347 as Reception No. 323313. 13 - . 4 ........ .. .- . . .- , RECEPTION#: 576617, 01/10/~-11 at 01:58:05 PM, 21 OF 30, Janice K. Vos Caudill, Pi n County, CO illull'll'llull~'ElillimulliNillnulullili 533928 Pagâ€¢: 14 of 23 01/30/2007 02: 241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 0 0.00 ARTICLE VII GENERAL PROVISIONS 7.1 The provisions hereof shall be binding upon and inure to the benefit of Owner and City and their respective successors and assigns. 7.2 This 2007 PUD Agreement shall be subject to and construed in accordance with the laws of the State of Colorado. 7.3 lf any ofthe provisions of this 2007 PUD Agreement or any paragraph, sentence, clause, phrase, word, or section or the application thereof in any circumstance is invalidated, such invalidity shall not affect the validity of the remainder of this 2007 PUD Agreements and the application of any such provision, paragraph, sentence, clause, phrase, word, or section in any other circumstance shall not be affected thereby. 7.4 This 2007 PUD Agreement and the exhibits attached hereto contain the entire understanding between the parties hereto with respect to the transactions contemplated hereunder. Owner, its successors or assigns, may, on its own initiative, petition the City Council for an amendment to this 2007 PUD Agreement or for an extension of one or more of the time periods required for performance hereunder. The City Council shall not unreasonably deny such petition for amendment or extension after considering all appropriate circumstances. Any such amendments or extensions of time shall only become effective upon the execution by all parties hereto that are affected by the proposed amendment. 7.5 Numerical and title headings contained in this 2007 PUD Agreement are for convenience only, and shall not be deemed determinative ofthe substance contained herein. As used herein, where the context requires, the use of the singular shall include the plural and the use of any gender shall include all genders. 7.6 Upon execution ofthis 2007 PUD Agreement by all parties hereto, City agrees to approve the Final PUD Development Plan and to accept the same for recordation in the office of the Clerk and Recorder for Pilkin County, Colorado, upon payment of the recordation fees by Owner. 7.7 Notices to be given to the parties to this 2007 PUD Agreement shall be considered to be given if hand delivered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or such other addresses as may be substituted upon written notice by the parties or their successors or assigns: 14 RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 22 OF 30, Janice K. Vos Caudill, Pit County, CO -- 1 illjil lilli llili llil 111 illi ill'll ill 111 111 lili 533928 Page: 15 of 23 01/30/2007 02:24; JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 0 0.00 CITY: City of Aspen City Manager 130 South Galena Street Aspen, CO 81611 OWNER Hotel Jerome, Inc. do The Broadmoor Hotel P.O. Box 1439 Colorado Springs, CO 80901 With Copy to: Arthur C. Daily, Esq. Holland & Hart up 600 East Main Street Aspen, CO 81611 7.8 This 2007 PUD Agreement may be executed in counterparts, in which case all such counterparts together shall constitute one and the same instrument which is binding on all of the parties thereto, notwithstanding that all of the parties are not signatory to the original or the same counterpart. Facsimile signatures shall be treated as original signatures hereon. 7.9 The terms, conditions, provisions and obligations herein contained shall be deemed covenants that run with and burden tile Property and any and all owners thereof or interests therein, their respective successors, grantees or assigns, and further shall inure to the benefit of and be specifically enforceable by or against the parties hereto, their respective successors, grantees or assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of the day and year first above written. CITY: City o f Aspen, Colorado, a Colorado municipal corporatici Â£ ) Mayor Attest: g*k-_24.-4/4,4,444 Kathryn S. Koch, City CleR APPROVED AS TO FORM: /lu O r**AS 44il#orcester, City Attorney 15 ...... RECEPTION#: 576617, 01/10'-011 at 01:58:05 PM, 23 OF 30, Janice K. Vos Caudill, Pi n County, CO $. OWNER: Hotel Jerome, Inc. By: A-*21 Its: STATE OF COLORADO ) ) SS. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this 3044'ay of Clt.Â«u-0,~00~*--. 2007, by Helen Klanderud as Mayor and Kathryn S. Koch as City Clerk of â€ž*fite City of A@en, Colorado, a municipal corporation. U Witness my hand and official seal. My commission expires: 04/1 9/2007- '00Â»4X U,44 1 ,#izq# M,)81 Ndiarv Public STATE OF COLORADO ) ) SS. COUNTY OF El ~0 The foregoing instrument was acknowledged before me th.~852 day of Swuaru , 2007, by &144*,r. 13*ADUR as of Hotel Jerome, Inc.,7 Colorado corporation. Witness my hand and official seal. My commission expires: 8 1 Mlo9 A-u ap #144.) Notary Public (3~; 11111111! 11111111111111111111111#111111111 01/30/2007 02:241 533928 .................1. Page: 16 of 23 Â£ t.9,7///~%,r JANICE K VOS CAUOILL PITKIN COUNTY Co R 118,00 0 0.00 \ 4%~/32/1/7.4 16 RECEPTION#: 576617, 01/10/ L at 01:58:05 PM, 24 OF 30, Janice K. Vos Caudill, Pit County, CO 1 533928 EXHIBIT Page: 17 of 23 el/30/2007 02:24; FT-1 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 0 0.00 Chapter 26.575 MISCELLANEOUS SUPPLEMENTAL REGULATIONS Sections: 26.575.010 General. 26375.020 Calculations and measurements. 26.575.030 Open Space. 26.575.040 Yards. 26.575.045 Junk Yard and Service Yards. 26.575.050 Fences. 26.575.060 Utility/trash service areas. 26.575.070 Use square footage limitations. 26.575.080 Child care center. 26.575.090 Home occupations. 26.575.100 Landscape maintenance. 26375.110 Building envelopes. 26.575.120 Satellite dish antennas. 26.575.130 Wireless Telecommunication Services Facilities and Equipment 26.575.140 Accessory uses and accessory structures. 26.575.150 Outdoor Lighting. 26.575.160 Dormitory. 26.575.170 Fuel storage tanks 26.575.180 Restaurant. 26.575.190 Farmers' market. 26.575.200 Group Homes. 26.575.010 General. Regulations specified in other sections ofthis Title shall be subject to the following supplemental regulations. 26.575.020 Calculations and measurements. The purpose of this Section is to set forth supplemental regulations which relate to methods for calculating and measuring certain enumerated terms as used in this Title. The definitions ofthe terms are set forth at Section 26.104.100. A. Floor arn In measuring floor areas for floor area ratio and allowable floor area, the following applies: 1. General. In measuring floor area forthepurposes of calculating floor area ralio and allowable floor area, there shall be included that floor area within the surrounding exterior walls (measured from their exterior surface) of a building, or portion thereof. 2. Decks, Balconies, Porches. Loggias and Stairwavs. The calculation of the floor area of a building or a portion thereof shall not include decks, balconies, exterior stairways, terraces and 689 (Aspem Supp. No. 2,4-03) RECEPTION#: 576617, 01/10'--11 at 01:58:05 PM, 25 OF 30, Janice K. Vos Caudill, Pi n County, CO 533928 26.375.020 , page: 18 of 23 01/30/2007 02:24; JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 D 0.00 similar features, unless the area ofthese features is greater than fifteen (15) percent of the maxi- mum allowable floor area ofthe building (the excess ofthe 15% shall be included). Porches shall not be counted towards FAR. 3. Garages. Camor# and Ston,ge A rear. In all zone districts except theR-15-B zone district, for the purpose ofcalculating floorarearatio and allowable floor area foralot whose principal use is residential, garages, carports, and storage areas shall be excluded up to a maximum area of two hundred fifty (250) square feet per dwelling unit; all garage, carport and storage areas between two hundred fifty (250) and five hundred (500) square feet shall count fifty (50) percent towards allowable floor area; all garage, carport and storage areas in excess of five hundred (500) square feet per dwelling unit shall be included as part of the residential floor area calculation. For any dwelling unit which can be accessed from an alley or private road entering at the rear or side of the dwelling unit, the garage shall only be excluded from floor area calculations up to two hun- dred fifty (250) square feet per dwelling unit ifit is located on said alley orroad; all garage, car- pon and storage areas between lwo hundred fifty (250) and five hundred (500) square feet shall count fifty (50) percent towards allowable floor area. For the purposes of determining the exclu- sion, if any, applicable to ga~* carports, and storage areas,lhe areaof all structures on aparcel shall be aggregated. In the 4 fbjone district, garage, carport, and storage areas shall be limited to a five hundred (500) squarch-': exemption 4. Subgradeareay. To determine theportion ofsubgrade areas that are to be included in calculat- ing floor area, the following shall apply: a. For any story that is partially above and partially below natural or finished grade, which- ever is lower, the total percentage ofexterior surface wall area thatis exposed above the most restrictive ofthe grades shall be the total percentage ofthc gross square footage oflhe subject story included in the floor area calculation. Subgrade stories with no exposed exterior surface wall area shall be excluded from floor area calculations. (Example: If fifteen (15) percent of the exterior surface wall area has been exposed above natural or finished grade (whichever is lower), then fifteen (15) percent of the gross square footage of the subject story will be included as floor area.) b. Also excluded from floor area calculations shall be any portion of a subgrade accessory dwelling unit whose extcrior surface wall area is exposed above grade for glass, window openings, doors, and similar ways of getting light and air into the unit, or that provides re- quired Uniform Building Code egress to the unit. The maximum amount of this exclusion shall be one hundred (100) s.fof the floor area of the accessory dwelling unit. c. For any dwelling unit that can be accessed from an alley or private road entering at the rear or side of the dwelling unit, the garage or carport shall only be eligible for the exclusions described in sub-sections a. and b. if it is located along said alley or road. (A,pon SUpp. No. 2,4-03) 690 Mil RECEPTION#: 576617, 01/10/2 at 01:58:05 PM, 26 OF 30, Janice K. Vos Caudill, Pit] County, CO , 4. 26.575.020 d. In the R-15B zone district only, garages, carports, and storage areas shall be excluded from residential floor area calculations up to a maximum offive hundred (500) square feet per dwellmg unit. 5. (Repealed by Ord. No. 56-2000, Â§ 8) 6. Accesory Dwelline Units. An Accessory Dwelling Unit shall be calculated and attributed to the allowable floor area for aparcel with the same inclusions and exclusions for calculating Floor Area as defined in this section, unless eligible for an exemption as described below: Detached and Dermanentlv affordable ADU Floor Area Exemotion. Onehundred (100)per- cent of the Floor Area of an ADU which is detached from the primary residence and deed re- stricted as a "For Sale" affordable housing unit and transferred to a qualified purchaser in accor- dance with the Aspen/Pitkin County Housing Authority Guidelines, as amended, shall be ex- cluded from the calculation of Floor Area. 7. Linked Pavilion. Any element linking the principal structure to an accessory structure shall not be included in the calculation offloor area provided that the linking structure is no more than one (1) story tall, six (6) feet wide,and ten (10) feet long. Areas of linking structures in excess often (10) feet in length shall be counted in floor area. I lillit ilin illil lill Illill fill fillill ill ililll Iii lill 01/30/2007 02:241 533928 Pag.: 19 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 D 0.00 690-1 (A.pm Supp. No. 1 4-03) RECEPTION#: 576617, 01/10/4011 at 01:58:05 PM, 27 OF 30, Janice K. Vos Caudill, Pj n County, CO EXHIBIT . I 01/30/2007 02.24; 533928 Pâ€¢gâ€¢: 20 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116,00 D 0.00 OCCUPANCY DEED RESTRICION AND AGREEMENT AFFORDABLE HOUSING UNITS CORTINA LODGE THIS OCCUPANCY DEED RESTRICTION AND AGREEMENT (the "Deed Restriction") is made and entered into this day of , 2007, by and between HOTEL JEROME, INC., a Delaware corporation, whose address is c/o The Broadmoor Hotel, P. O. Box 1439, Colorado Springs, CO 80901 (hereinafter referred to as "Owner"), and the ASPEN/PITKIN COUNTY HOUSING AUTHORITY, a multi-jurisdictional housing authority established pursuant to the THIRD AMENDED AND RESTATED INTERGOVERNMENTAL AGREEMENT recorded on January 8,2003 at Reception No. 477066 in the Office of the Clerk and Recorder ofPitkin County, Colorado (hereinafter referred to as "Housing Authority"). WITNESSETH: WHEREAS, Owner is the owner in fcc simple of Lots P and Q, Block 73, City and Townsite of Aspen, Pitkin County, Colorado, on which is situated a renovated structure known as the Cortina Lodge (hereafter, the "Cortina Lodge"); and WHEREAS, the Cortina Lodge contains four (4) studio units and four (4) two-bedroom dormitory suites (each, an "Affordable Housing Unit" and collectively, the "Affordable Housing Units"), together with a common kitchen, dining area and laundry, as authorized and approved by Ordinance No. 42 (Series of2006) adopted by the Aspen City Council on December 11,2006 and recorded , 2007 in said records. The Affordable Housing Units are depicted on the floor plans attached hereto as Exhibit A and made a part hereof by this reference, and contain the following net livable areas, to wit: Unit Number Unit TYpe Net Livable Area Unit 1 Studio - square feet Unit 2 Studio square feet Unit 3 Studio square feet Unit 4 Studio square feet Unit 5 2-bdm dorm suite square feet Unit 6 2-bdrm. dorm suite square feet Unit 7 2-bdrm. dorm suite square feet Unit 8 2-bdrm. dorm suite square feet The foregoing variation of APCHA's minimum size requirements for Category 1 Affordable Housing Units was approved by the City of Aspen in Section 10 of said Ordinance No. 42 (Series of2006); and RECEPTION#: 576617, 01/10/2 at 01:58:05 PM, 28 OF 30, Janice K. Vos Caudill, Pit; County, CO 1 .. ~ Imi Imifi Imi iimi #Im Iii;Im IM imimi m Iii 01/30/2007 02:24; 533928 Page: 21 of 23 JANICE K VOS CAUDILL PITKIN COUNTY CO R 116.00 0 0.00 WHEREAS, in accordance with said Ordinance No. 42 (Series of 2006) and the 2007 Hotel Jerome PUD Agreement recorded , 2007 at Reception No. in said records, Owner desires by this instrument to deed restrict the use and occupancy of the Affordable Housing Units to persons who are employed in Pitkin County (and their families) and who meet the qualification guidelines set forth in the Aspen/Pitkin County Affordable Housing Guidelines established and indexed by the Housing Authority on an annual basis (the "Guidelines"); and WHEREAS, as set forth in Paragraph 1 (f and g) of that certain Master Termination Agreement recorded , 2007 as Reception No. in said records, the previous Declaration of Covenants, Restrictions and Conditions for the Cortina Lodge recorded December 16, 1988 in Book 581 at Page 332 as Reception No. 307031, as amended by Amendment to Cortina Declaration of Covenants, Restrictions and Conditions recorded June 12, 1991 in Book 648 at Page 373 as Reception No. 333507, shall be deemed fully and forever vacated, terminated, cancelled, released, extinguished null, void, and of no further force or effect whatsoever upon the recording ofthis Deed Restriction. NOW, THEREFORE, for and in consideration oflhe mutual covenants and agreements set forth herein and for other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the Owner covenants and agfees as follows: 1. The Affordable Housing Units shall at all times be rented in accordance with the terms ofthis Deed Restriction. 2. The use and occupancy of the Affordable Housing Units shall henceforth be limited exclusively to housing for persons who are employed in Pitkin County (and their families) who meet the definition of"qualified Category 1 employee" as that term is defined by the Guidelines. Owner shall give first priority for occupancy of the Affordable Housing Units to employees of the Hotel Jerome. Any Affordable Housing Units not rented by Owner to Hotel Jerome employees may be rented to any "qualified Category 1 employee selected by Owner. If the Owner does not lease an Affordable Housing Unit to a qualified employee of his own selection, then the Housing Authority shall select the tenant in accordance with the Guidelines. Employees shall be qualified by the Housing Authority as to employment, maximum income and asset limitations. 3. Written verification of employment of employee(s) proposed to reside in an Affordable Housing Unit shall be completed and filed with the Housing Authority by Owner prior to occupancy thereof, and such verification must be accepted by the Housing Authority. 4. An Affordable Housing Unit shall be rented for periods of no less than six (6) consecutive months. Upon vacancy of an Affordable Housing Unit, Owner is granted forty-five 05) days in which to locate a qualified employee, unless a longer period is authorized by the Housing Authority. Approval for such additional time may be requested by Owner for repair and/or refurbishment of an Affordable Housing Unit, for renovation and/or redevelopment of the Cortina Lodge property, or for an unexpected breach of the lease agreement by the tenant, and RECEPTION#: 576617, 01/10 11 at 01:58:05 PM, 29 OF 30, Janice K. Vos Caudill, Pi n County, CO .. 1111111111 lilli 111111111111'i illill' 111 mill l ili 01/30/2007 02:241 533928 P.g.: 22 of 23 JANICE K VCS CAUDILL PITKIN COUNTY CO R 118.00 0 0.00 such approval shall not be unreasonably withheld or delayed by the Housing Authority. If a qualified employee is not placed in an Affordable Housing Unit within the above-prescribed period, the Housing Authority may rent the Affordable Housing Unit to a qualified employee of its own selection. 5. The maximum rental rate for an Affordable Housing Unit shall not exceed the Category 1 rental rate asset forth in the Rental Guidelines established by the Housing Authority as part of the Guidelines, subject to annual adjustment as permitted by the Guidelines. The maximum permitted rent for the studio units on the date of execution of this Deed Restriction is $ per month, and the maximum permitted rent for the 2-bedroom dormitory suites on the date of execution ofthis Deed Restriction is $ per month. Rent shall be verified and approved by the Housing Authority upon submission and approval of the lease. 6. Each Affordable Housing Unit must meet minimum occupancy requirements as stipulated in the Guidelines, i.c., onc person per bedroom. 7. A written lease agreement shall be executed by Owner and the tenant for each occupancy of an Affordable Housing Unit, and shall provide for a minimum rental term of six (6) consecutive months, subject always to the Owner's right to terminate the lease ifthe tenant defaults in the performance of the tenant's obligations thereunder. An executed copy of the lease shall be provided to the Housing Authority by Owner within ten (10) days of the Housing Authority's approval of the proposed tenant. 8. The terms and provisions of this Deed Restriction shall constitute covenants running with the title to the Cortina Lodge property as a burden thereon for the benefit of, and shall be specifically enforceable by, the Housing Authority, the City of Aspen, Colorado, and their respective successors and assigns, by any appropriate legal action including, but not limited to, injunction, abatement, or eviction of non-qualified tenants. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of the day and year first above written. OWNER: HOTEL JEROME, INC., a Delaware corporation By: Its: STATE OF COLORADO) ) SS. COUNTY OF ) The foregoing Deed Restriction was acknowledged before me this day of ,2007, by as of Hotel Jerome, Inc., a Delaware corporation. RECEPTION#: 576617, 01/10/ 1 at 01:58:05 PM, 30 OF 30, Janice K. Vos Caudill, Pitk -64. County, CO Witness my hand and official seal. My commission expires; Notary Public ACCEPTANCE BY HOUSING AUTHORITY The foregoing Deed Restriction and its terms are accepted by the Aspen/Pitkin County Housing Authority this day of ,2007. ASPEN/PITKIN COUNTY HOUSING AUTHORITY By: Chairperson STATE OF COLORADO) ) SS. COUNTY OF PITKIN ) The foregoing Acceptance was acknowledged before me this day of , 2007, by as Chairperson of the Aspen/Pitkin County Housing Authority Board. Witness my hand and official seal. My commission expires: Notary Public 3654258_1.DOC 533928 Pigâ€¢: 23 of 23 01/30/2007 02:241 JANICE K VOS CAUDILL PITKIN COUNTY CO R 118,00 D 0.00 1.