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HomeMy WebLinkAboutresolution.council.084-23RESOLUTION # 84 (Series of 2022) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, APPROVING A CONTRACT TO PURCHASE PROPERTY LOCATED AT 418 PACIFIC AVE #F, ASPEN, COLORADO AND AUTHORIZING THE CITY MANAGER TO EXECUTE SUCH DOCUMENTS AS NECESSARY TO COMPLETE THE PURCHASE. WHEREAS, there has been submitted to the City Council a contract to purchase property located at 418 Pacific Avenue #F, Aspen, Colorado, a true and accurate copy of which is attached hereto as "Exhibit A"; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, That the City Council of the City of Aspen hereby approves the Contract to Buy and Sell Real Estate by and between the City of Aspen and Krishna Dallakoti, for the property located at 418 Pacific Avenue #F, Aspen, Colorado, a copy of which is annexed hereto and incorporated herein and authorizing the City Manager to execute such documents as necessary to complete the purchase. INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on the 28th day of June 2022. Torre, Mayor I, Nicole Henning, duly appointed and acting City Clerk do certify that the foregoing is a true and accurate copy of that resol=*on �eby the City Council of the City of Aspen, Colorado, at a meeting held 022. Nicole Henning, Ci Clerk LAND TITLE GUARANTEE COMPANY $33 E HOPKINS 9102 LandTtie ASPEN '( i a;e�,a3a Fax: (303) 393- 4941 PROPERTY ADDRESS: 418 PACIFIC AVE UNIT F. ASPEN, CO 81611 SELLER(S): KRISHNA DALLAKOTI BUYER(S): CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION SETTLEMENT DATE: July 11, 2022 DATE OF PRORATION: July 11, 2022 DESCRIPTION Sales Price & Earnest Money "PURCHASERS" STATEMENT OF SETTLEMENT DEBIT CREDIT Sates Price Earnest Money from LTdb • Earnest Money 1,485,000.00 Title Fees - Land Tile Guarantee Company Total for Endorsements (DELETION) - r--- �� -- --y 75.00 �— Title ln8urance ALTA Owner's PoiIC 2,120.00 Closing Fees -land Title Guarantee Company Closing Fee to Land Title Guarantee Company- - -_ Recording Fees - Land Title Guarantee Company Record Worranty Deed to Land G!TM_ a 28.00 &.r;iTfile Fee - _..T..it.le �—.._ 4.25 Documentary Fee to Land Title Guaramee Corn any _ 109.50 Owner's Association - Alpine Grove Condominium Owners Association, Inc Statement Fee to MIGHTY MOUSE MGMT W. 100.00 Dwner's Association Dues owing Alpine Grove Condominium Owners Assoclation, Inc 07/11/2022 to 1.934.69 09/30/2022 Q� $23 5938hfay Rents and.. ee iitity Deposits Unit LEASE Prorated Rents 07/11/2022 to 08/01/2022 @ $112.903PJday 2,370.97 Last Margh's Rent __ Real Estate Tax - PITKIN COUNTY TREASURER - Current Year Property Taxes R019360 01/01/2022 to 07/11/2022 @ $3.1159/dey _ _ 595.06 SubTotals Due from BuyedBorrower Totals The above figures do not include sales or use taxes on property APPROVED AND ACCEPTED (SEE ATTACHED -SIGNATURE PAGE-) Farm 624 dosing/slatements/buyer_statement.html 62014413 (100280670) 1,099,721.44 61,466.03 1,033,255.41 1.099,721-44 1,099,721,44 "Purchasers" Statement of Settlement SIGNATURE PAGE - Page 1 of 2 PURCHASER($) LAND TITLE CLOSING AGENT: CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION t3lr. C504;. `e 6 1 Tr SARA OTT, CRY MANAGER Signed 07l08= at 03:53PM Melissa J. Jones Form 624 dosing/statements/buyer_statement.html 62014413 (100286670) "Purchasers" Statement of Settlement SIGNATURE PAGE - Page 2 of 2 REAL ESTATE BROKER: LAND TITLE CLOSING AGENT: ASPEN SNOWMASS SOTHEBY'S INTERNATIONAL REALTY t}. �c�neS Melissa J. Jones LEX TARUMIANZ Signed 07108122 at 0923 M Form 624 closing statementslbuyer statementhttnl 62014413 (100286670) Land Title Guarantee Company Order No. 62014413 FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT OF 1980 (26 U.S.C.1445)("FIRPTA") CERTIFICATION BY TRANSFEROR (INDIVIDUAL) (Pursuantto Regulation C.F.R.1.1445.2(b)(2)(1)) To: CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION, Transferee (Buyer) Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax If the transferor (seller) Is a foreign person. To Inform the transferee (buyer) that withholding of tax is not required upon the disposition of a U.S. real property Interest, I KRISHNA DALLAKOTI, (transferor), hereby certily the following: 1. 1 am not a foreign person (as defined in the Internal Revenue Code and Income Tax Code and Income Tax Regulations) for purposes of U. S. Income taxation; 2 (illy U. S. taxpayer identifying number (Social Security number) Is and 4. 1 understand that this certification will be disclosed to the Internal Revenue Service by the transferee and that any false statement I have made here could be punished by One, imprisonment, or both. 5. Under penalties of perjury 1 declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete. (SEE ATTACHED "SIGNATURE PAGE") Date; July 11, 2022 Note: If you have any questions or concerns arising from your obligation as transferor in regard to this tax, it is suggested that you Immediately contact your focal Internal Revenue Service office, attomey or accountant if you do not fully understand these regulations. More information, including the regulations promulgated under FIRPTA, is available at the websfte for the Internal Revenue Service, M=J/www.irs.cov' The transferee is required to retain this certification until the end of the fifth taxable year following the taxable year in whirr the transfer takes place. The transferee must make this certification available to the Intemal Revenue Service when requested In accordance with the requirements of 26 U.S.0 6001 and regulations thereunder. ccl naxrm lgltformstlrpta Individual_tnssn_no_nmr/.html (41 V5191110) FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT OF 1980 @001� SIGNATURE PAGE KRISHM CFALLAKOT1 Form 1153 *sirvg!tax_ionyiWrpta individual fissn no notary.trtml =14413 (4187%80) Disclaimer The undersigned hereby confirm their understanding that LAND TITLE GUARANTEE COMPANY hereby disclaims any and all liability for the tax consequences to the undersigned including whether such transaction complies with Section 1031 of the Internal Revenue Code as a result of conducting a closing for the property described as: See attached "Exhibit A" THE UNDERSIGNED hereby further confirm and represent to LAND TITLE GUARANTEE COMPANY thatthey have either p) sought Independent legal or tax counsel concerning the tax ramifications of the transaction described in the above -referenced contract or, (1i) have waived the same and are in no way relying on LAND TITLE GUARANTEE COMPANY as to the tax ramifications of the transaction. Executed an fhls day of July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE") Form 99 closingl1031/1031_disdalmer.html 6201"13 (100286670) Exhibit A CONDOMINIUM UNIT F, BUILDING 418, ALPINE GROVE CONDOMINIUMS, A CONDOMINIUM COMMON INTEREST COMMUNITY, ACCORDING TO THE CONDOMINIUM PLAT THEREOF RECORDED FEBRUARY 16, 2001 IN PLAT BOOK 56 AT PAGE 63 AS RECEPTION NO.451616, FIRST AMENDMENT THERETO RECORDED NOVEMBER 19, 2003 IN PLAT BOOK 67 AT PAGE 80, SECOND AMENDMENT THERETO RECORDED OCTOBER 29, 2004 IN PLAT BOOK 71 AT PAGE 9 AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF GRANTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR ALPINE GROVE CONDOMINIUMS RECORDED FEBRUARY 16, 2001 AS RECEPTION NO.451617 AND RE -RECORDED FEBRUARY 28, 2001 AS RECEPTION NO.451818. AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR ALPINE GROVE CONDOMINIUMS RECORDED OCTOBER 9, 2002 AS RECEPTION NO.473185 AND AS AMENDED IN THE SECOND AMENDMENT TO THE DECLARATION RECORDED MARCH 21, 2003 UNDER RECEPTION NO.480370 AND AMENDED BYTHE THIRD AMENDMENT TO THE DECLARATION RECORDED APRIL 30, 2003 UNDER RECEPTION NO.452110 AND AMENDED BY THE FOURTH AMENDMENT TO THE DECLARATION RECORDED NOVEMBER 19, 2003 UNDER RECEPTION NO.491347 AND FIFTH AMENDMENT THERETO RECORDED OCTOBER 29, 2004 UNDER RECEPTION NO.503643, COUNTY OF PITKIN, STATE OF COLORADO. Farm 99 closing/1031/1031_disolaimer.html 62014413 (100286670) 1031 Disclahner SIGNATURE PAGE - Page 1 of 2 SELLERS) KRISHNA DALLhf&Tl Form 99 closing/1031/1031_disoiaim®r.html 62014413 (1002 WO) 1031 Disclaimer SIGNATURE PAGE - Page 2 of 2 BUYER(S) CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION SARA OTT, CITY MANAGER Signed 07108122 at 03:83PM Form 99 do&k /103t/1031 obcWmer html 62014413 (100266670) Agreement for Taxes It is hereby understood and agreed between the Buyer(s) and Seller(s) of the property known as: 418 PACIFIC AVE UNIT F, ASPEN, CO 81611 Real Estate Taxes Tax Acct X: R018360 Current Year Taxes have been adjusted as of the date of closing based on Assessed Value and MITI Levy Land Assessment 2022: $0.00 Improvement Assessment 2022: $37,050.00 Mill Levy 2021: 30.6920 Percentage of Tax:100.000% Total Estimated Taxes: $1,137.14 other: This adjustment shall be. ❑X A final settlement. Re -adjusted between the Buyer(s) and Seller(s) as soon as the taxes have been billed by the County Treasurer. If a re -adjustment Is necessary, Land Title Guarantee Company will not make or be responsible for this re -adjustment. It is further understood and agreed between the Buyer(s) and Seller(s) that: ❑X No governmental body taxing authority has cerdtied an assessment lien to the County Treasurer for special improvements installed prior to the date of the Buyer's execution of 1he Agreement for Purchase. Special Taxing District Assessments being paid in annual Installments are to be assumed by the Buyer(a), with current annual assessments in the amount of $0.00, with the total payoff amount of this assessment being $0.00. This assessment will be fully paid on Note: Land Title Guarantee Company and/or Its underwriter assumes no responsibility or any liability for the adjustment of special taxes on assessments union they are shown on the County Treasurer's Certificate of Taxes Due. Any adjustment shall be made between the Buyer's and Seller(s), it necessary, and Land Title Guarantee Company, or its underwriter will not make or be responsible for the re -adjustment or liability in connection therewith. This Agreement made and executed this day of July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE") Form 286 closing)tax_f❑rma4ax agreemem.html 62014413 (100285670) Tax Agreement SIGNATURE PAGE- Page 1 of 2 Seller(a) 0.0� KRISHNA DJAMOTI Form 286 cbsin0/mx fbmuftx aflreementhtml 6201"13 (100286670) Tax Agreement SIGNATURE PAGE - Page 2 of 2 Buyers) CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION SARA OTT, CITY MANAGER Signed 07l08122 at 03:53PM Form 286 closintylax�iormsAax agreemertt.html 62014413 (100286670) Utility Agreement water and Sewer paid by Homeowners Association At the closing of 418 PACIFIC AVE UNIT F, ASPEN, CO 81611 (Property Address) on July 11th, 2022 (Date), by Land Title Guarantee Company, both the Buyer(s) and Seller(s) fully understand that Land Title Guarantee Company DOES NOT notify the telephone company, the electric and/or gas company(s), the cable company or the Seller's present insurance company to cancel or transfer to the new owners, any of the above. IT IS THE SELLER(S) RESPONSIBILITY to call the gas and/or electric company for a final reading and to give them your forwarding address for the final bill. It is also the Seller(s) responsibility to notify your telephone company, cable company, trash company and your present insurance agent. IT IS THE BUYER(S) RESPONSIBILITY to call the gas and/or electric company, giving them the personal information they may require for their records, the telephone company, the trash company and the cable company to put service into your name(s) with the correct mailing address, If different than the property Just purchased. Additional Notes: The Parties hereto further agree to the following: The undersigned Buyer(s) and Sellers) of the property referenced above understand that the water and sewer is included in the maintenance fees. The maintenance fees and any reserves currently being held have been adjusted pursuant to the written status letter received from the Homeowners Association or the Association's Management Company, Land Title Guarantee Company or its underwriter assumes no responsibility or any liability In the event the figures on the written status letter are erroneous. Any adjustment shall be between the Buyer(s) and Seller(s), If necessary, and Land Title Guarantee Company or its underwriter, will not make or be responsible for this re -adjustment or any liability in connection therewith. If the homeowners'/landowners' association involved has requested copies of the Buyer and Seller Settlement Statements as a requirement to transfer their records to the new owners, the undersigned hereby authorize Land Title Guarantee Company to deriver a copy of said statements to the association. Land Title Guarantee Company Is hereby released of any liability in connection with same. Buyer(s) and Seller(s) have reviewed the homeowners association information and adjustments on the Buyer(s) and Seller(s) settlement statements and hereby agree that said information and adjustments are complete for the above referenced property. Land Title Guarantee Company Is hereby released of any liability regarding any associations or sub -associations heretofore not disclosed. This Agreement was made and executed this day of July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE') Form 771 dosing/agreements/utility_agreemenLhtml 82014413 (100286670) HOA Utility Agreement SIGNATURE PAGE - Page 1 of 2 Seller: KRISHNA Form 771 *$Mglagreement9/ut<lity agreement.html =14413 (100286670) HOA Utility Agreement SIGNATURE PAGE - Page 2 of 2 Buyer: CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION ��Q7f 6?r SARA OTT, CITY MANAGER Signed 07/08/22 at 03:53PM Form 771 closingiagreementstublliy_agreement.html 62014413 (100286670) The undersigned hereby acknowledge that they understand and agree to the following provisions: Lbws Relating to C)nclaimed Funds All parties are hereby advised that checks issued by LandTills Guarantee Company ("Land Thiel and not cashed by the payee are subject to laws of escheat and/or unclaimed property. Should land This transfer such funds to a state office, pursuant to such laws, Land Tltie shall be released from all further responslbllity under this agreement and shall not be liable to any Party. FDIC limit Notice The insurance coverage provided by the Federal Deposit Insurance Corporation protects a depositor up to cumulative maximum deposit of $250,000.00 for each insured financial institution. Ownership is determined by the deposit records of the financial institution and/or the records of the named custodian of any escrow accounts. Land We and its underwriter assume no responsibility for nor will the undersigned hold same liable for any loss which arises from the fact that the amount of the above deposit may cause the aggregate amount of any Individual depositor's accounts to exceed $250,000.00. r ' d:.51511M. Mai Land Title shall deposit all funds received pursuant to any closing and settlement services separate and apart from the assets of the company, In an account designated as an escrow account or custodial account and so recognized by the depository Institution in the name of Land Title as Escrow Agent (Escrow Account). Similar deposits from other customers conducting other real estate transactions are included In this Escrow Account The majority of these funds are received at closing and on completion of the transaction, are disbursed for the benefit of the seller, buyer or in the case of a refinance, for the benefit of the owner. Land This will pay any and all costs associated with the use of the Escrow Account, but in order to help keep settlement costs and fees down, Land Title may arrange for the bank to provide it with a number of services at a reduced rate, or at no charge, or may earn interest on the Escrow Account balance. Interest earned, it any, shall be paid to Land Title. In no event will any such arrangement restrict or limit in any way the disbursement of the funds you deposit in accordance with the instructions given by you and the Statement of Settlement relating to your transaction. The party for whose benefit the funds are disbursed (most often the seller or owner, in the case of a refinance) may elect to have a portion of the Interest earned on the fiduclary funds In the Escrow Account paid to that party. If the seller or owner makes this election, please () inform Land Title immediately, (fi) check the box provided below on this form and (IIQ complete an IRS Form W-9 (which will be provided by Land Title). It is Important to know that the fiduciary funds cannot be placed in a separate interest bearing account for that party's benefit until Land Title is in receipt of all required forms. A non-refundable administrative fee of $50.00 will be collected by Land Title as compensation for processing the documentation, act up and transfer of funds to the separate account, maintaining of audit and reconcilliation records and coordinating the tax documentation. Authorized and accepfedthis day of July 71th, 202Z (SEE ATTACHED "SIGNATURE PAGE-) li the election is made to have a portion of the interest earned on the fiduciary funds In the Escrow Account paid to you, please check the appropriate box below. Seller hereby elects to have Seller's fiduciary funds Invested and agrees to the administrative fee of $50.00. Buyer hereby elects to have Buyer's fiduciary funds invested and agrees to the administrative fee of $50.00. Owner (Refinance) hereby elects to have Owner's fiduciary funds invested and agrees to the administrative fee of $50.00. Form 9 dosing/disclosures/flduciary_funds.html 62014413 (100286670) Disclosures and Fiduciary Funds SIGNATURE PAGE - Page 1 of 2 selfer(s): KRISH A Form 9 oWsk discbwrestkduo*aq_funds.html 62014413 (1002866701 Disclosures and Fiduciary Funds SIGNATURE PAGE - Page 2 of 2 "r(s): CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION BY. c5— - tQ�i 617r SARA OTT, CITY MANAGER Signed 07/030 at 03:53PM Form 9 dosingldisdosuresftuclary_tunds.html 6201444 (100286670) Bill of Sale For and in consideration of the sum of $10.00 (-Ten and 00/100") Dollars paid by Buyer to Seiler, the receipt of which is hereby acknowledged, KRISHNA DALLAKOTI (Seller) of the County of Martcopa, in the State of Artzona hereby ache, assigns and conveys, free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except , to CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION and Buyer's personal representatives, successors and assigns (collectively the Buyer), of County of Pitkin, in the State of Colorado, the following personal property, located at 418 PACIFIC AVE UNIT F, ASPEN, CO 81611 all as stated in Section 2.5 Inclusions and 2.6 Exclusions of the Contract to Buy and Sell Real Estate (Residential) dated June 09, 2022 and entered into between the Seller and Buyer: 2.5.1 Inclusions -Attached. If attached to the Property on the date of this Contract, the following items are included unless excluded under Exclusions: lighting, heating, plumbing, ventilating, and air conditioning units, TV antennas, inside telephone, network and coaxial (cable) wiring and connecting blocksijadrs, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, sprinkler systems and controls, bulk -in vacuum systems (including accessories), garage door openers (Including remote controls). If checked, the following are owned by the Seiler and included: L] Solar Panels U Water Softeners l.] Security Systems [] Satellite Systems (including satellite dishes). If any additional gems are attached to the Property attar the date of the Contract, such additional items are also Included in the Purchase Price. 2 Inclusions - Not Atlarhed. If an the Property, whether attached or not on the date of the Contract, the following items are Included unless excluded under Exclusions: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings and treatments, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating stoves, storage sheds, carbon monoxide alarms, smokelfire detectors and all keys. 2.5.3 Other Inclusions. The following gems, whether fixtures or personal property, are also Included in the Purchase Price: The Property is being sold with no Incluslons that are not attached 2.& 9u uLons. The following Items are excluded: Executed by the Seller on July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE") Form 1316 ctosing/deeds/statutory/bos_22.html 6201"l3 (100n6670) E Sale (2022 Contract) GNATUAE PAGE Form 1318 dosiro,'deedslstatutoryr/bos 22.html 62014413 (100266670) Approval of Deed, Bill of Sale and Tenancy The undersigned CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION Buyer(s) hereby acknowledge that they intend to take title to the following described property: CONDOMINIUM UNIT F, BUILDING 418, ALPINE GROVE CONDOMINIUMS, A CONDOMINIUM COMMON INTEREST COMMUNITY, ACCORDING TO THE CONDOMINIUM PLAT THEREOF RECORDED FEBRUARY 16, 2001 IN PLAT BOOK 56 AT PAGE 63 AS RECEPTION NO. 451616, FIRST AMENDMENT THERETO RECORDED NOVEMBER 19, 2003 IN PLAT BOOK 67 AT PAGE 80, SECOND AMENDMENT THERETO RECORDED OCTOBER 29, 2004 IN PLAT BOOK 71 AT PAGE 9 AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF GRANTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR ALPINE GROVE CONDOMINIUMS RECORDED FEBRUARY 16, 2001 AS RECEPTION NO.451617 AND RE -RECORDED FEBRUARY 26, 2001 AS RECEPTION NO.451818, AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR ALPINE GROVE CONDOMINIUMS RECORDED OCTOBER 9, 2002 AS RECEPTION NO.473185 AND AS AMENDED IN THE SECOND AMENDMENT TO THE DECLARATION RECORDED MARCH 21, 2003 UNDER RECEPTION NO.480370 AND AMENDED BY THE THIRD AMENDMENT TO THE DECLARATION RECORDED APRIL 30, 2003 UNDER RECEPTION NO. 482119 AND AMENDED BY THE FOURTH AMENDMENT TO THE DECLARATION RECORDED NOVEMBER 19, 2003 UNDER RECEPTION NO.491347 AND FIFTH AMENDMENT THERETO RECORDED OCTOBER 29, 2004 UNDER RECEPTION NO. 503643. COUNTY OF PITKIN, STATE OF COLORADO. As ❑ Joint Tenants ❑ Tenants in Common 0 Other MUNICIPAL CORPORATION Whose mailing address is:427 RIO GRAND PLACE, Aspen, CO 81611 They have reviewed the SPECIAL WARRANTY DEED and Bill of Sale dated July iith, 2022 from KRISHNA DALLAKOTI to CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION and by their signature hereto approve the deed and confirm that it correctly reflects the choice of tenancy, if applicable. Date: July 11, 2022 (SEE ATTACHED "SIGNATURE PAGE") Form 17 closing/affidavit/tenancy.html 62014413 (100286670) Approval of Deed and Tenancy (Affidavit of Tenancy) SIGNATURE PAGE CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION By.` ��� �r SARA OTT, CITY MANAGER Signed 07/08/22 at 03.53PM Form 17 closing/affidavit/tenancy.html 62014413 (100286670) ASSIGNMENT AND ASSUMPTION OF LEASE Seller hereby assigns any and all leases to Buyer and Buyer shall assume such leases affecting She following described property: CONDOMINIUM UNIT F, BUILDING 418, ALPINE GROVE CONDOMINIUMS, A CONDOMINIUM COMMON INTEREST COMMUNITY, ACCORDING TO THE CONDOMINIUM PLAT THEREOF RECORDED FEBRUARY 16, 2001 IN PLAT BOOK 56 AT PAGE 63 AS RECEPTION NO. 451616, FIRST AMENDMENT THERETO RECORDED NOVEMBER 19, 2003 IN PLAT BOOK 67 AT PAGE 8% SECOND AMENDMENT THERETO RECORDED OCTOBER 20, 20041N PLAT BOOK 71 AT PAGE 9 AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF GRANTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR ALPINE GROVE CONDOMINIUMS RECORDED FEBRUARY 16, 2001 AS RECEPTION NO.451617 AND RE -RECORDED FEBRUARY 26, 2001 AS RECEPTION NO.461818, AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR ALPINE GROVE CONDOMINIUMS RECORDED OCTOBER 9, 2002 AS RECEPTION NO.473186 AND AS AMENDED IN THE SECOND AMENDMENT TO THE DECLARATION RECORDED MARCH 21, 2003 UNDER RECEPTION NO.4OW70 AND AMENDED BY THE THIRD AMENDMENT TO THE DECLARATION RECORDED APRIL 30, 2003 UNDER RECEPTION NO. 482119 AND AMENDED BY THE FOURTH AMENDMENTTO THE DECLARATION RECORDED NOVEMBER 19, 2003 UNDER RECEPTION NO.491347 AND FIFTH AMENDMENT THERETO RECORDED OCTOBER 29, 2004 UNDER RECEPTION NO. 503643. COUNTY OF PITKIN, STATE OF COLORADO. Date: July 11, 2022 (SEE ATTACHED -SIGNATURE PAGE-) Farm 188 closi4agreementslassignment lease.hrml (00286670) AssignmenVAssumption of Leases SIGNATURE PAGE - Page 1 of 2 SELLER( KRISHNA OTI Form 188 closing/agrsemsnWassignmerd lease.htmi 62014413 (100280670) AssignmentlAssumption of leases SIGNATURE PAGE - Page 2 of 2 BUYER(S) CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION By:c5.4�,1 6, 7r. SARA OTT, CITY MANAGER Signed 07/08/'12 at 03:53PM Form 188 closing/agreements/assignmenLllease.html 620i 4413 (100286670) Escrow No. 62DI4413 Property: 418 PACIFIC AVE UNIT F Proration Date: July 11, 2022 UNIT RENT PER MONTH LEASE $3,500.00 Totals: $3,500.00 RENTAL ATTACHMENT RENT PAID TO DATE 08/0112022 Form 320 closing/rerrt attachment.html 62014413 (i CO266670) RENTAL PRORATED DEPOSITS AMOUNT $3,500.00 $2,370.97 $3,500.00 $2,370.97 �<f - - initials RENTAL ATTACHMENT Escrow No. 62014413 Property: 418 PACIFIC AVE UNIT F Proration Date: July 11, 2022 UNIT RENT PER RENT PAID TO RENTAL PRORATED MONTH DATE DEPOSITS AMOUNT LEASE $3,500.00 08/01/2022 $3,500.00 $2,370.97 Totals: $3,500.00 $3,500.00 $2,370.97 initials Form 320 closing/rent_attachment.html 62014413 (100286670) Aspen I $otheby 5 Aspen Snowmass Sotheby's International Realty SnOWmass INTERNATIONAL REALTY Lex Tarumianz Ph:970-925-6060 1 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission (CL8-5-19) (Mandatory 7-19) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT 4 LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. 6 CLOSING INSTRUCTIONS 8 Date: 611012022 10 1. PARTIES, PROPERTY. Krishna Dallakoti , (Seller), 11 and City of Aspen, 12 (Buyer), engage Land Title Guarantee Company, (Closing Company), 13 who agrees to provide closing and settlement services in connection with the Closing of the transaction 14 for the sale and purchase of the Property known as No. i5 418 Pacific Avenue, Unit F Aspen, CO 81611 , 16 and more fully described in the Contract to Buy and Sell Real Estate, dated 0610912022 including 17 any counterproposals and amendments (Contract). The Buyer's lender may enter into separate closing 18 instructions with the Closing Company regarding the closing of the Buyer's loan. All terms of the 19 Contract are incorporated herein by reference. In the event of any conflict between this Agreement and 20 the Contract, this Agreement controls, subject to subsequent amendments to the Contract or this 21 Agreement. 22 2. TITLE COMMITMENT, EXCEPTIONS AND POLICY. Closing Company ® Agrees ❑ Does Not 23 agree that: upon completion of a satisfactory title search and examination, it will furnish a Title 24 Insurance Commitment; and it will issue a Title Insurance Policy provided that all requirements have 25 been fulfilled. Closing Company ® Agrees ❑ Does Not agree to furnish copies of Exceptions. 26 3. INFORMATION, CLOSING, RECORDING. Closing Company is authorized to obtain any 27 information necessary for the Closing. Closing Company agrees to, deliver and record all documents 28 required or customarily recorded, and disburse all funds pursuant to the Contract that are necessary 29 to carry out the terms and conditions of the Contract. 30 4. PREPARATION OF DOCUMENTS. The Closing Company will prepare the necessary documents 31 to carry out the terms and conditions of the Contract to include: 32 4.1 Deed. If the deed required in the Contract is a special warranty deed, general warranty 33 deed, bargain and sale deed (excluding a personal representative's or trustee's deed) or a quit claim 34 deed, the deed will be prepared in accordance with the Contract by the Closing Company. However, if 35 the Contract requires a different form of deed (e.g.: personal representative's deed or trustee's deed) or 36 requires that the special warranty deed or general warranty deed list exceptions other than the 37 "statutory exceptions" as defined in §38-30-113(5)(a), C.R.S., then the Buyer or Seller must provide the 38 deed or written instructions for preparation of the deed to the Closing Company for Closing. For any 39 Buyer or Seller provided deed or written instructions for preparation of the deed that requires a list of 40 exceptions other than the "statutory exceptions", the Buyer and Seller will hold the Closing Company 41 harmless for any causes of action arising out of the use of such deed. The parties acknowledge that the 42 real estate broker working with either the Buyer or the Seller is not responsible for reviewing or 43 approving any deed not prepared by the real estate broker. 44 4.2 Bill of Sale. If the transaction includes the sale of personal property (i.e. within the Contract 45 or a Personal Property Agreement) from the Seller to the Buyer, Seller and Buyer authorize Closing 46 Company to prepare the bill of sale conveying the personal property from the Seller to the Buyer as 47 their scrivener. The Buyer and Seller understand that the bill of sale is a legal document and it is 48 recommended that it be reviewed and approved by their respective attorneys. 49 4.3 Closing Statement. Closing Company will prepare and deliver accurate, complete and 50 detailed closing statements to Buyer, Seller and the real estate brokers working with Buyer and Seller. 51 Closing Statements will be prepared in accordance with the Contract and written instructions from the 52 Buyer, Seller, lender or real estate brokers so long as such written instructions are not contrary to the 53 Contract. If the written instructions are contrary to the Contract, the Buyer and Seller must execute an 54 Agreement to Amend/Extend Contract. 55 5. CLOSING FEE. Closing Company will receive a fee of $ 350 for providing closing and 56 settlement services (Closing Fee). 57 6. RELEASE, DISBURSEMENT. Closing Company is not authorized to release any signed 58 documents or things of value prior to receipt and disbursement of Good Funds, except as provided in 59 §§10, 11 and 12. 60 7. DISBURSER. Closing Company must disburse all funds, including real estate commissions, 61 except those funds as maybe separately disclosed in writing to Buyer and Seller by Closing Company 62 or Buyer's lender on or before Closing. All parties agree that no one other than the disburser can 63 assure that payoff of loans and other disbursements will actually be made. 64 g, SELLER'S NET PROCEEDS. Seller will receive the net proceeds of Closing as indicated: 65 ❑ Cashier's Check, at Seller's expense ® Funds Electronically Transferred (wire transfer) to an 66 account specified by Seller, at Seller's expense ❑ Closing Company's trust account check. 67 9. WIRE AND OTHER FRAUDS. Wire and other frauds occur in real estate transactions. Anytime 68 Buyer or Seller is supplying confidential information, such as social security numbers, bank account 69 numbers, transferring or receiving funds, Buyer and Seller should provide the information in person or 70 in another secure manner. 71 10. FAILURE OF CLOSING. If Closing or disbursement does not occur on or before Closing Date 72 set forth in the Contract, Closing Company, except as provided herein, is authorized and agrees to 73 return all documents, monies and things of value to the depositing parry, upon which Closing Company 74 will be relieved from any further duty, responsibility or liability in connection with these Closing 75 Instructions. In addition, any promissory note, deed of trust or other evidence of indebtedness signed by 76 Buyer will be voided by Closing Company, with the originals returned to Buyer and a copy to Buyer's 77 lender. 78 11. RETURN OF EARNEST MONEY. Except as otherwise provided in §12 (Earnest Money Dispute), 79 if the Earnest Money is being held by Closing Company and has not already been returned following 80 receipt of a Notice to Terminate or other written notice of termination, Closing Company must release 81 the Earnest Money as directed by written mutual instructions from the Buyer and the Seller. Such 82 release of Earnest Money must be made within five days of Closing Company's receipt of the written B3 mutual instructions signed by both Buyer and Seller, provided the Earnest Money check has cleared. 84 12. EARNEST MONEY DISPUTE. In the event of any controversy regarding the Earnest Money 85 (notwithstanding any termination of the Contract), provided Closing Company is holding the Earnest 86 Money, Closing Company is not required to take any action. Closing Company, at its option and sole 87 subjective discretion, may: (1) await any proceeding, (2) interplead all parties and deposit Earnest 88 Money into a court of competent jurisdiction and recover court costs and reasonable attorney and legal 89 fees, or (3) provide notice to Buyer and Seller that unless Closing Company receives a copy of a 90 Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the 91 lawsuit (Lawsuit) within one hundred twenty days of Closing Company's notice to the parties, Closing 92 Company is authorized to return the Earnest Money to Buyer. In the event Closing Company does 93 receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Closing 94 Company must disburse the Earnest Money pursuant to the Order of the Court. 95 13. SUBSEQUENT AMENDMENTS. Any amendments to, or termination of, these Closing 96 Instructions must be in writing and signed by Buyer, Seller and Closing Company. 97 14. CHANGE IN OWNERSHIP OF WATER WELL. Within sixty days after Closing, Closing Company 98 will submit any required Change in Ownership form or registration of existing well form to the Division of 99 Water Resources in the Department of Natural Resources (Division), with as much information as is 100 available. Closing Company is not liable for delaying Closing to ensure Buyer completes any required 101 form. 102 15. FIRPTA AND COLORADO WITHOLDING. 103 15.1 FIRPTA. Seller agrees to cooperate with Buyer and Closing Company to provide any 104 reasonably requested documents to determine Seller's foreign person status. If withholding is required, 105 Seller authorizes Closing Company to withhold any required amount from Seller's proceeds and remit it 106 to the Internal Revenue Service. 107 15.2 Colorado Withholding. Seller agrees to cooperate with Closing Company to provide any 108 reasonably requested documents to determine Seller's status. If withholding is required under 109 Colorado law, Seller authorizes Closing Company to withhold any required amount from Seller's 110 proceeds and remit it to the Colorado Department of Revenue. "1 16. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the 112 Colorado Real Estate Commission.) 113 114 17. COUNTERPARTS. This document may be executed by each parry, separately, and when each 115 parry has executed a copy, such copies taken together are deemed to be a full and complete contract 116 between the parties. 117 18. BROKER'S COPIES. Closing Company must provide, to each real estate broker in this 118 transaction, copies of all signed documents that such real estate brokers are required to maintain 119 pursuant to the rules of the Colorado Real Estate Commission. Closing Company is authorized by both 120 Buyer and Seller to deliver their respective Closing Statement to one or both real estate brokers 121 involved in the transaction. 122 19. NOTICE, DELIVERY AND CHOICE OF LAW. 123 19.1 Physical Delivery and Notice. Any document, or notice to another parry must be in 124 writing, except as provided in §19.2 and is effective when physically received by such parry. 125 19.2 Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in 126 electronic form to another parry at the electronic address of the recipient by facsimile, email or 127 CTMe Web Transmittal. 128 19.3 Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: 129 (1) email at the email address of the recipient, (2) a link or access to a website or server, provided the 130 recipient receives the information necessary to access the documents or (3) facsimile at the facsimile 131 number (Fax No.) of the recipient. 132 19.4 Choice of Law. These Closing Instructions and all disputes arising hereunder are 133 governed by and construed in accordance with the laws of the State of Colorado that would be 134 applicable to Colorado residents who sign a contract in Colorado for real property located in Colorado. Initials p%R.Te, 15-Aew, ilssrstifrt 61�� Naape o, Date: 612012022 Buyer: City of Aspen By: Diane Foster, Assistant City Manager Address: Phone No.: Fax No.: Email Address: Buyer: Address: Phone No.: Fax No.: Email Address: Seller: Krishna Dallakoti Address: Phone No.: Fax No.: Email Address: Seller: Address: Phone No.: Fax No.: Email Address. Date: Date: 611312022 Date: FUZ Closing Company's Name: Land Title Guarantee Company �eAslfa (701W Date: 611412022 By: Melissa Jones Authorized Signature Title: Title Agent Address: 533 E Hopkins Ave. Suite 102 Aspen, CO 81611 Phone No.: 9709251678 Fax No.: Email Address: mejones@ltgc.com CL8-5-19. CLOSING INSTRUCTIONS - ©2022 MRI Software LLC- All Rights Reserved Purchaser's Final Affidavit and Agreement File No: 62014413 RE: Real property and improvements located at: 418 PACIFIC AVE UNIT F, ASPEN, CO 81611, in the County of Pitkin State of Colorado, and more particularly described in the Commitment issued under the above Commitment No. 62014413 (the "Property"). See attached "Exhibit A" The Purchaser (the "Purchaser") of the Property, hereby makes the following representations to Land Title Guarantee Company, and any title insurance company for which the Company is agent (collectively the "Company"), with full knowledge and intent that the Company shall rely thereon: 1. The Purchaser has not contracted with, or hired, any person or contractor to furnish services, labor or materials, including any person to furnish architectural or surveying work, for the construction, remodeling, renovations, repair or other maintenance, of improvements on the Property, within the last 120 days. 2. If any person or contractor, within the last 120 days, has furnished services, labor or materials, including any person who has furnished architectural or surveying work, for the construction, remodeling, renovations, repair or other maintenance of improvements on the Property, at the request or on behalf, of the Purchaser, such person or contractor has been paid in full. A complete description of such work or service with all payment information is attached. 3. The Purchaser has not entered into any contract or other agreement creating any right, interest or lien on the Property, or whereby the Property or any portion thereof has been leased. (If all or a portion of the Property is in possession of tenants, or under lease, attach a detailed rent roll with copies of the lease agreement(s)). 4. The Purchaser has taken, or will take, possession of the premises on 06/30/2023. 5. The full purchase price has been paid by the Purchaser to Seller. In light of the foregoing facts and representations, the Purchaser, in consideration of the issuance by the Company of a policy of Title Insurance covering Property, in the form set out in the Commitment, hereby promises, covenants and agrees to hold harmless, protect and indemnify the Company, from and against those liabilities, losses, damages, expenses and charges, including but not limited to reasonable attorneys' fees (including attorney's fees in the enforcement of this agreement) and expenses of litigation which the Company may incur, arising out of any inaccuracies in the above representations. Executed by the Buyer on July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE") Form 1144 closing/affidavit/finalaff_purchaser.html 62014413 (100286670) Exhibit A CONDOMINIUM UNIT F, BUILDING 418, ALPINE GROVE CONDOMINIUMS, A CONDOMINIUM COMMON INTEREST COMMUNITY, ACCORDING TO THE CONDOMINIUM PLAT THEREOF RECORDED FEBRUARY 16, 2001 IN PLAT BOOK 56 AT PAGE 63 AS RECEPTION NO.451616, FIRST AMENDMENT THERETO RECORDED NOVEMBER 19, 2003 IN PLAT BOOK 67 AT PAGE 80, SECOND AMENDMENT THERETO RECORDED OCTOBER 29, 2004 IN PLAT BOOK 71 AT PAGE 9 AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF GRANTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR ALPINE GROVE CONDOMINIUMS RECORDED FEBRUARY 16, 2001 AS RECEPTION NO.451617 AND RE -RECORDED FEBRUARY 26, 2001 AS RECEPTION NO.451818, AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR ALPINE GROVE CONDOMINIUMS RECORDED OCTOBER 9, 2002 AS RECEPTION NO.473185 AND AS AMENDED IN THE SECOND AMENDMENT TO THE DECLARATION RECORDED MARCH 21, 2003 UNDER RECEPTION NO.480370 AND AMENDED BY THE THIRD AMENDMENT TO THE DECLARATION RECORDED APRIL 30, 2003 UNDER RECEPTION NO.482119 AND AMENDED BY THE FOURTH AMENDMENT TO THE DECLARATION RECORDED NOVEMBER 19, 2003 UNDER RECEPTION NO.491347 AND FIFTH AMENDMENT THERETO RECORDED OCTOBER 29, 2004 UNDER RECEPTION NO. 503643. COUNTY OF PITKIN, STATE OF COLORADO. Form 1144 closing/affidavit/finalaff—purchaser.html 62014413 (100286670) Affidavit - Purchaser (No Notary) SIGNATURE PAGE CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION By:45'4r;Q;7t 61?r SARA OTT, CITY MANAGER Signed 07/08/22 at 03:53PM Form 1144 closing/affidaviVfinalaff—purchaser.html 62014413 (100286670) (TD-1000) Confidential Document This form provides essential market information to the county assessor to ensure accurate, fair and uniform assessments for all property. This document is not recorded, is kept confidential, and is not available for public inspection. This declaration mu.%t_ba _ompleted and signed by either the grantor (seller) or grantee (buyer)- Questions 1, 2, 3, and 4 may be completed (prefilled) by a third party, such as a title company or closing agent, familiar with details of the transaction. The signatory should confirm accuracy before signing. This form is required when conveyance documents are presented for recording. If this form is not completed and submitted, the county assessor may send notice. If the completed and signed form is not returned to the assessor within 30 days of notice, the assessor may impose a penalty of $25.00 or 0.025% (0.00025) of the sale price, whichever is greater. Additional information as to the purpose, requirements, and level of confidentiality regarding this form are outlined in Colorado Revised Statutes, sections 39-14-102, 39-5-121.5, and 39-13-102. 1. Address and/or legal description of the real property sold: Please do not use P.O. Box numbers 418 PACIFIC AVE UNIT F, ASPEN, CO 81611 2. T e of Propert purchased: aSingle Family Resfdenlial ❑ Townhome ❑X Condominium ❑ Multi -Unit Res ❑ Commercial Industrial Agricultural U Mixed Use ❑ Vacant Land ❑ Other 3. Date of Closina:JulV 11, 2022 Date of Contract if different than date of closing: June 09; 2022 4. Total sale price: Including all real and personal property. $1,095,000.00 Contracted price (if different from final sale price) $1,095,000.00 5. List any personal property included in the transaction that materially impacts the total sale price. Personal property may include, but is not limited to: machinery or equipment, vehicles, exceptional appliances, electronic devices, furniture, or anything that would not typically transfer with the real property (attach additional pages if necessary). De,;rription Approximate Value Personal Property Total: $ If no personal property is listed, the entire purchase price will be assumed to be for the real property. 6. Did the total sales price include a trade or exchange of additional real or personal property? ❑ Yes ❑X No If yes, give the approximate value of the goods or services as of the date of closing. $ If yes, does this transaction involve a trade under IRS Code Section 1031? ❑ Yes 1XI No 7. Was 100% interest in the real properly purchased? Mark "no" if only a partial interest is being purchased. ❑X Yes ❑ No If no, interest purchased: 8. Is this a transaction between related parties or acquaintances? This includes persons connected by blood or marriage, or business affiliates, or those acquainted prior to the transaction. ❑ Yes ❑X No 9. Please mark type of sale: Builder (new construction) X Public (MLS or Broker Representation) Private (For Saie By Owner) Other (describe) 10. Check any of the following that ap ly to the condition of the improvements at the time of purchase: ❑ New ❑ Excellent ] Good ❑ Average ❑ Fair ❑ Poor ❑ Salvage Form 1068 closing/recordings/rpt_2019.html 62014413 (100286670) If the property is financed, please complete the following: 11. Type of financing: (Check all that apply) X None (all cash or cash equivalent) New/Mortgage Lender (government -backed or conventional bank loan) New/Private Third Party (nonconventional lender, e.g., relative, friend, or acquantaince) Seller (buyer obtained a mortgage directly from the seller) Assumed (buyer assumed an existing mortgage) Combination or Other: Please explain 12. Total amount financed: 13. Terms: Variable Starting interest rate % ❑ Fixed Interest rate % Length of time years Balloon Payment ❑ Yes ❑ No If yes, amount $0.00 Due Date 14. Mark any that apply: Seller assisted down payment Seller concessions Special terms of financing If marked, please specify: 15. Was an independent appraisal obtained in conjunction with this transaction? ❑ Yes ❑X No For properties other than residential (Residential is defined as: single family detached, townhomes, apartments, and condominiums) please complete questions 16-18 if applicable. Otherwise, skip to #19 to complete. 16. Did the purchase price include a franchise or license fee? ❑ Yes ❑X No If yes, franchise or license fee value? 17. Did the purchase price involve an installment land contract? Q Yes ❑X No If yes, date of contract: 18. If this was a vacant land sale, was an on -site inspection of the property conducted by the buyer prior to the closing? ❑ Yes ❑X No Remarks: Please include any additional information concerning the sale you may feel is important. 19. Signed on this day of July 11, 2022 Have at least one of the parties to the transaction sign the document, and include an address and a daytime phone number. Signature of 0 Grantee(Ruyer) ❑ or Grantor(Seller) (SEE ATTACHED "SIGNATURE PAGE") 20. All future correspondence (tax bills, property valuations, etc.) regarding this property should be mailed to: CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION 427 RIO GRAND PLACE, Aspen, CO 81611 Phone: Email: Contact information is kept confidential, for County Assessor and Treasurer use only, to contact buyer with questions regarding this form, property valuation, or property tax information. Form 1068 closing/recordings/rpt_2019.html 62014413 (100286670) Real Property Transfer Declaration 2019 SIGNATURE PAGE CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION SARA OTT, CITY MANAGER Signed 07/08/22 at 03:53PM Form 1068 closing/recordings/rpt 2019.html 62014413 (100286670) Pq State Documentary Fee Date: July 11, 2022 (t3i j $109.50 Special Warranty Deed (Pursuant to C.R.S. 38-30-113(1)(b)) Grantor(s), KRISHNA DALLAKOTI, whose street address is 10852 NORTH 136TH PLACE, SCOTTDALE, AZ 85259, City or Town of SCOTTDALE, County of Maricopa and State of Arizona , for the consideration of ($1,095,000.00) "`One Million Ninety Five Thousand and 00/100"" dollars, in hand paid, hereby sell(s) and convey(s) to CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION, whose street address is 427 RIO GRAND PLACE, Aspen, CO 81611, City or Town of Aspen, County of Pltkin and State of Colorado, the following real property in the County of Pltkln and State of Colorado, to wit: See attached "Exhibit A" also known by street and number as: 418 PACIFIC AVE UNIT F, ASPEN, CO 81611 with all its appurtenances and warrant(s) the title to the same against all persons claiming under me(us), subject to Statutory Exceptions. Signed this day of July 11, 2022. (SEE ATTACHED "SIGNATURE PAGE") When recorded return to: CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION 427 RIO GRAND PLACE, Aspen, CO 81611 Form 1090 closing/deeds/statutory/swd_statutory.html (60 214413) II I I I�IIII IIII� I I��� II�II �II Exhlblt A CONDOMINIUM UNIT F, BUILDING 418, ALPINE GROVE CONDOMINIUMS, A CONDOMINIUM COMMON INTEREST COMMUNITY, ACCORDING TO THE CONDOMINIUM PLAT THEREOF RECORDED FEBRUARY 16, 2001 IN PLAT BOOK 56 AT PAGE 63 AS RECEPTION NO.451616, FIRST AMENDMENT THERETO RECORDED NOVEMBER 19, 2003 IN PLAT BOOK 67 AT PAGE 80, SECOND AMENDMENT THERETO RECORDED OCTOBER 29, 2004 IN PLAT BOOK 71 AT PAGE 9 AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF GRANTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR ALPINE GROVE CONDOMINIUMS RECORDED FEBRUARY 16, 2001 AS RECEPTION NO.451617 AND RE -RECORDED FEBRUARY 26, 2001 AS RECEPTION NO. 451818, AND FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR ALPINE GROVE CONDOMINIUMS RECORDED OCTOBER 9, 2002 AS RECEPTION NO.473185 AND AS AMENDED IN THE SECOND AMENDMENT TO THE DECLARATION RECORDED MARCH 21, 2003 UNDER RECEPTION NO. 480370 AND AMENDED BY THE THIRD AMENDMENT TO THE DECLARATION RECORDED APRIL 30, 2003 UNDER RECEPTION NO. 482119 AND AMENDED BY THE FOURTH AMENDMENT TO THE DECLARATION RECORDED NOVEMBER 19, 2003 UNDER RECEPTION NO.491347 AND FIFTH AMENDMENT THERETO RECORDED OCTOBER 29, 2004 UNDER RECEPTION NO.503643. COUNTY OF PITKIN, STATE OF COLORADO. Form 1090 closing/deeds/statutory/swd_statutory.html 62014413 (100286670) Special Warranty Deed with Statutory Exceptions SIGNATURE PAGE �&qis*l KRISHNA DALLAKOTI State of Virginia ) )ss. County of Loudoun 7 The foregoing instrument was acknowledged before me on this day of _f)Z�ns/-) -19 _ by KRISHNA DALLAKOTI Witness my hand and official seal My Commission expires:12/31/2024 Registration No: 7901547 Notarized online using audio -video communicatior Notary Public. Gloria Asare Gloria Asare REGISTRATION NUMBER 7901547 COMMISSION EXPIRES December 31, 2024 Form 1090 closing/deeds/statutory/swd_statutory.html 62014413 (100286670) f_giu wAgreernent for Pre -Signing of Documents Land Title Guarantee Company Escrow Number 62014413 (the "Escrow") Property situated at 416 PACIFIC AVE UNIT F, ASPEN, 00 81611 Land Title Guarantee Company ("Land Title's is currently acting as the closing and settlement agent under the Escrow. The Escrow is scheduled to dose on July 11th, 2022 (the "Closing Date"). In the event that Land Title does not have in its actual possession by 5:00 pm (MDT/MST) on the Closing Date: ❑X Extension of Escrow pending racelpi of Funds: good funds from BUYER In the amount of TBD 0 Extension of Escrow pending rawl ott of Documents: all of the dogumqEtS listed below Qocumeots Reovired; Name of person to proMde the _Qocurnents 1. CLOSING DOCUMENTS ALL PARTIES 2. 3. 4. then Land Title, as soon as possible thereafter, shall return all documents and monies held by It to the party who deposited Same, (other than earnest moneyAss paid pursuant to the Contract to Buy and Sell Real Estate dated June 09, 2022 ) without regard for any claim made by any person, including the Parties, to any one or more of the documents and monies, unless Land Title receives written instructions signed by all of the Parties directing the return of the documents and monles. The release of earnest moneyAss will be subject to the provisions of the Contract to Buy and Sell Real Estate dated June 09, 2022. Read, approved and accepted on this day of July 11th, 2022 (SEE ATTACHED "SIGNATURE PAGE") Lender: Closing A nt: By: By: Form 262 closinglescrow agreemenVescrow_jNeslgn.himl (�1"11�D) 11111111111 IN III I 1111111111 Escrow Agreement for Pre -Signing SIGNATURE PAGE- Page 1 of 2 Seller(s): 6 KRISHNA DAOAKOTI Form 262 closing/escrow_agreemenlesctow presEgrLhtrnI 62014413 (100266870) Escrow Agreement for Pro -Signing SIGNATURE PAGE - Page 2 of 2 Buyer(&). CITY OF ASPEN, COLORADO, A COLORADO HOME RULE MUNICIPAL CORPORATION �C5 : 04, {� O?r SARA OTT, CRY MANAGER digned 07=122 at 03:53PM Form 262 closing/escrow agreemenVescrow—presign.html 62014413 (100286670) RECEPTION# 641556, R: $18.00, D: $37.30, 09/19/2W7 at 11:43:21 AM, Pgs 1 of 2, Janice K. Vos Caudill, Pitkin County, CO MRA-Vur� 1 1 THIS DEED, made this 18th day of September, 2017, between PENSCO TRUST COMPANY FBO ROBERTA N LOWENSTEIN IRA whose address is 5114 Okeechobee Boulevard suite N 203, West Palm beach, FL 33417, GRANTOR(S), and KRISHNA DALLAKOTI /✓. l 3 h "" p l— e t: whose address is , , , GRAN I F.E(s): SGC �c/A le t 42 $tea` _5 - `fi WITNESS. that the grantor(s), for and in consideration of the sum of FIVE HUNDRED SEVENTY FIVE THOUSAND AND 00/100 DOLLARS ($575,000.00), the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm unto the grantees, Wmice's heirs and assigns forever, all the real property, together with improvements, if any, situate, lying and being in the County of Pitkin and State of Colorado, described as follows: FOR LEGAL DESCRIPTION SEE EXHIBIT "A" ATTACHED HERETO AND FORMING A PART HEREOF also known by street and number as: 418 Paclfle Avenue Unit N 418F, Aspen, CO 81611 TOGETHER with all and singular the hereditsments and appurtenances thereunto belonging, or in anywise appurtaining, and the reversion and revorsions, remainder and remainders, rents, issues and profits therool and all the estate, right, title., interest, claim and demand whatsoever ofthe grantor, either in law or equity, of, in and to the above bargained premises, with the hereditetnents and appurtenances; TO HAVE AND TO HOLD the said promises above bargained and described, with the appurtenances, unto the grantee, grantee's heirs and assigns forever. The grantor, for the gsnto , grantor's heirs, and personal represcutatives, does covenant, grant, bargain and agree to and with the grantee, grantee's heirs and assigns, that at the time of the ensuring and delivery of these prpS nts, g mt❑r is well seized ofthe premises above conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, fbll power and lawful authority to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, asscssmcnls. encumbxauces and restrictions of whatever kind or nature soover, except general taxes for the current and subsequent years, and except easements, covenants, conditions, restrictions, reservations, and rights of way of record, if say. The g uuor shall and will WARRANT AND FOREVER DEFEND the above -bargained premises in the quiet and peaceable possession of the grantees, grantee's heirs and assigns, against all and every person or persons lawfully claiming the whole or any part thereof The singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. IN WITNESS WHEREOF, the grantor has executed this deed on the date set forth above. Trust Company FBO aria N Lowenstein IRA Cu--- y: RobeRa K Lo'Wr 4 F16 State of 4 County of F The forcgoiag instrument was acknowledged, subscribed and sworn to before me this J4 6 day of �t P _ _ , I.r 20 17 by Roberts N. Lowenstein of Ponsco Trust Company FBO Roberta N Lowenstein IRA My Commission Expires: '3-411►19 1ACHARY RICH Notary Public - State of Georgia Cherokee Coulity My Corti= Ettplroa Jun 4, 2019 CISMA . Wnnanrmr D= - Pxomuvrsc RECORD Witness my Hand and Official Seal Notary Public TITLE COMPANY 0705276 1 dih.-kw, RECEPTION#: 641556, 0911912017 at 11:43:21 AM, Pgs 2 of 2, Janice K. Vos Caudill, Pitkln County, CO E_XMBIT "A" Attached to and forming a part of WARRANTY DEED between GRANTOR: PENSCO TRUST COMPANY FBO ROBERTA N LOWENSTEIN IRA GRANTEE: KRISHNA DALLAKOTI LEGAL DESCRIPTION Condominium Unit F, Building 418, ALPINE GROVE CONDOMINIUM, according to the Condominium Map thereof filed February 16, 2001 in Plat Book 56 at Page 63, at Reception No. 451616 and amended by instruments filed November 19, 2003 in Plat 67 at Page 80, at Reception No. 491348 and October 29, 2004 in Plat Book 71 at Page 9, at Reception Na. 503644 and according to the Declaraiian of Grants, Covenants, Conditions and Restrictions for AIpioe Grave Condominiums recorded February 16, 2 00 1, at Reception No. 451617 and re -recorded February 26, 2001, at Rectpti0a No. 451818, as amended by instruments recorded October 9, 2002, at Reception no. 473185, March 21, 2003, at Reception No. 480370, April 30, 2003, at Reception No. 482119, November 19, 2003, at Reception No. 491347 ADd October 29, 2004, at Reception No. 503643. County of Mtidn, State of Colorado. also (mown by street and number as: 418 Paciilc Avenue Unit # 418F, Aspen, CO 81611