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HomeMy WebLinkAbout2021.04.12 RECORDED Condominium Declaration v1RECEPTION#: 675443, R: $83.00, D: $0.00, 04/12/2021 at 04:23:09 PM, Pgs 1 of 15, Janice K. Vos Caudill, Pitkin County, CO CONDOMINIUM DECLARATION FOR RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 2 of 15, Janice K. Vos Caudill, Pitkin County, CO 2. Common Boundan? Line. Unit Boundaries: and Unit DescriplLons. The boundary line between the Units is shown and described on the Map as the "Dividing Line." The vertical boundaries of the Units are comprised of the Dividing Line and the perimeter lot lines of the Property, all as depicted on the Map; provided, however, that if the centerline of the as -built *f f1i '&A, Wal 6W ?SA( vlffli of the Party Wall. The Units do not have any horizontal boundaries, and each Unit includes all subsurface land and air space within the vertical boundaries of the Unit (i.e., on its side of the Dividing Line) as described above and as depicted on the Map. The Units are hereby designated _��JWIN 11 ?.iti " 004ft t and described in this Declaration. Subject to the terms of this Declaration and the Map concerning the "Common Elements" (as defined below) and the easements created pursuant to this Declaration, (a) Unit 1320 includes all of the Property east of the Dividing Line and all all of the Property west of the Dividing Line and all improvements (including the residence) on such portion of the Property. Every deed, lease, mortgage, deed of trust, or other instrument may words "1320 Snowbunny Lane Condominiums" followed by the name of and recording information for the Map and this Declaration. The undivided interest in the Common Elements to that Unit. 3. Floor Area Allocation. Development and improvement of the Property is subject to the City of Aspen Land Use Code (as amended from time to time, the "Code"). Each Unit shall have the floor area of the Units, constructed as of the date of this Declaration; provided, however, if any additional floor area is or becomes available to be constructed on the Property pursuant to the Code, then 50% of that unused floor area is allocated to each Unit. Subject to the preceding limitation, the Owners maintain the right to seek any approvals allowed under the Code to perm it additional floor area to be constructed on their respective Unit. An Owner shall not take any actions with that will affect the amount of floor area allocated to the Unit of the other Owner without the prior written approval of the other Owner. In any event, the Common Elements shall remain undivided and no 0 Elements. Nothing in this Section I shall be construed as limiting the terms • Section 10 below. 4. The Association. At such time as Declarant conveys one of the Units, delivery of the deed from the Declarant to the grantee shall be deemed to organize a "unit owner's association" within the meaning of C.R.S. §38-33.3-301 (the "Association"). (a) Formation of the Association: MembershiLi. The Association shall be an incorporated nonprofit association within the meaning of C.R.S. § 7-30-101, et seq. Thenameof the Association shall be the 1320 Snowbunny Lane Condominium Association. Each Owner shall be a member of the Association. Membership in the Association automatically terminates when a nerson ceases to be an Owner. w-hetherthrough foreclosure or otherwise, and the new Owner automatically succeeds to that membership in the Association. The Association will recognize a new member upon presentation by a new Owner of satisfactory evidence of the sale, transfer, succession, disposition, foreclosure or other transfer of 4 RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 3 of 15, Janice K. Vos Caudill, Pitkin County, CO a Unit. Membership in the Association may not be transferred, pledged or alienated in any way, except to the new Owner upon conveyance of a Unit. Any prohibited transfer is void and will not be recognized by the Association. The respective rights and obligations of the Owners are set forth in this Declaration. The Association shall not take any actions without the unanimous written consent of both Owners (except as provided in this Declaration with respect to the resolution of disputes). All rules and regulations governing the Association and the Property are set forth in this Declaration. The Association shall not have or adopt any bylaws. (b) Powers. The Association acting through the Board will serve as the governing body for the Condominium Project and has the powers and responsibilities set forth in the Condominium Instruments and the Act, specifically including without limitation the powers enumerated in Section 38-33.3-302 of the Act. (c) The Board. The affairs of the Association shall be governed by the Board, which may, by resolution, delegate any portion of its authority to an executive committee or an officer, executive or Director of the Association. The Board will consist of two directors (each, a "Director"). The Owner of each Unit will have the right to appoint one Director. Each Director shall be a natural person who is 18 years of age or older and shall be an Owner or a designee of an Owner. (d) Board Action. All actions and decisions of the Board shall require the affirmative vote of both of the Directors. (e) Bylaws. The Association may adopt Bylaws for the regulation and management of the Association, provided that the provisions of the Bylaws will not be inconsistent with the provisions of this Declaration or the Act. (f) Association Expenses. Except as otherwise provided herein, all costs and liabilities shall be allocated equally to the Units and shared equally the Owners. (g) Budget. The Board will cause a proposed annual budget for the Association to be prepared and adopted by the Board and submitted to the Owners for consideration and possible rejection by the Owners to the extent provided in accordance with Section 38-33.3-303 of the Act. (h) Board Deadlocks. A "Deadlock" shall exist after a formal vote in which one Director votes for or against a proposition and the other Director votes differently or refuses to vote, concerning any decision for which a decision by the Board is required pursuant to this Declaration or the Act. In the event of a Deadlock, the Board shall take another vote on the proposition. If that vote is not unanimous, then a decision that resolves the Deadlock issue shall be made by a person (the "Neutral") appointed for that purpose by the members of the Board, if they can so agree within five (5) business days, or thereafter at the request of either Director, by the then -current president of the Aspen Board of Realtors or then -current president of the Pitkin County Bar Association. Each Director shall submit to the Neutral a written proposal to resolve the Deadlock within ten (10) business days after the appointment of the Neutral. The Neutral shall have at least five (5) years' experience in property management in the Aspen, Colorado area, shall not be economically or family related to the owner(s) of either Unit, shall make a decision in good RECEPTIONM 675443, 04/12/2021 at 04:23:09 PM, Pgs 4 of 15, Janice K. Vos Caudill, Pitkin County, CO INa-ail W11 an I - MWM&U, RM,* fails or refuses to act, then either Director shall have &' right to petition the chief judge of the Pitkin County District Court to appoint such person. 0) Association Policies. The Association's policies, procedures and rules and regulations contemplated by C.R.S. § 38-33.3-209.5(l)(b) are: (i) Collection of Unpaid Assessments. The Association does not have the right to impose assessments. An Owner's right to be reimbursed or compensated by the other Owner for expenses is described in this Declaration. -'ii) Handling of Conflicts of Interest Involving Board Members. There are only two members of the Association, and each will appoint one member of the Board. Each Board member has the right to vote, and is expected to vote, in his, her or its own interest. Because all decisions must be unanimous or resolved in accordance with the provisions of this Declaration, no Owner or Board member will ever be required to, or expected to, recuse himself, herself or itself due to a conflict of interest. (iii) Conduct of Meeting gs. Board meetings and annual meetings of the Owners shall be held as the Board members, an4 Owners, as applicable, may decide is necessary or appropriate. Special meetings may be called by either Owner. Notice of meetings shall be provided and meetings shall be conducted pursuant to C.R.S. § 38-33.3-308. Owners will be courteous to one another in all such meetings. (iv) Enforcement of Covenants. The covenants and restrictions on the Property imposed by this Declaration shall be enforced as provided in this Declaration. (v) Inspection and Copying of Association Records. Each Owner should keep and maintain his, her or its own records of costs incurred related to the Common Elements and actions taken on behalf of the Board and/or Association to reasonably comply with any applicable provisions of C.R.S. §38-33.3- 317. Copies of such records shall be delivered to the other Owner by email or mail upon reasonable request. (vi) Investment of Reserve Funds. The Association is not required or expected to have reserve funds. If the Owners unanimously agree in writing that the Association collect funds from Owners for the purpose of establishing a reserve, the reserve Ed RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 5 of 15, Janice K. Vos Caudill, Pitkin County, CO funds will be invested in such manner as the Owners • agree. (vii) Procedures for Adopt on and Amendment of PolicieM Procedures and Rules. This Declaration sets forth all policie procedures and rules governing the Property and t respective rights of the Owners. Any additional policie I rules and procedures must be unanimously agreed upon i • by the Owners. I (viii) Procedures for Addressing Disputes between the Associati and Owners. Because each Board member or Owner has t right to vote, and is expected to vote, in his, her or its o interest and because all decisions must be unanimous resolved in accordance with the provisions of th Declaration, disputes between the Association and Owners a not expected. To the extent disputes arise between t Owners, those disputes will be resolved in accordance wi this Declaration. I 5. Shared Use Areas. The "Shared Use Areas" of the Property shall be the Para Wall, the Dividing Line, the portion of the exterior wall of the residence on Unit 13 constructed on the Dividine Line and the Entry and Drivewav General Common Elemen] (a) Shared Access Driveway. The term "Shared Access Driveway G.C.E.", means the area of the Property south of the Unit boundaries and including the entry from Snowbunny Lane and driveway, as depicted on the Map. The Shared Access Driveway G.C.E. is a general common element for the joint benefit, use and enjoyment of Units 1320 and 1322; provided, however, that any parking spaces or areas shown on the Map shall be allocated to the Owners based upon which side of the Dividing Line the parking is located. (b) No Damage or Alteration b3) Owners. Unless otherwise approved by both Owners in writing, the Owners shall be and hereby are prohibited from destroying, damaging, altering, relocating, or replacing all or any portion of the Shared Use Areas. (c) Maintenance. Repair, etc. of Shared Use Areas. The Association shall cause the Shared Use Areas to be operated, maintained, cleaned, repaired and replaced as may be reasonably required from time to time in accordance with all laws and regulations, in good condition and repair consistent with the standard of maintenance and repair prevailing for free market residential duplex proiects in As, en Colorado, and functioning for their intended p Maintenance, repair and replacement of the Shared Areas shall be undertaken by qualified contractors. All such work regarding the Shared Use Areas shall include restoring and/or replacing the applicable improvements and any adjoining landscaping disturbed • damaged by such work to the condition that existed prior to such work. RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 6 of 15, Janice K. Vos Caudill, Pitkin County, CO (d) Costs Allocations. The costs incurred for the operation, cleaning, maintenance, repair and replacement of the Shared Use Areas and the restoration and/or replacement of any adjoining landscaping disturbed or damaged thereby shall be the responsibility of the Association, to be apportioned evenly between the Owners; provided, however. that to the extent the need for such work arises from the negligence or intentional act of one Owner, the costs of such work shall be paid by such Owner. (e) Procedure. Following delivery of 15 days' written notice by the Association to the other Owner, or following delivery of 15 days' written notice to the other Owner (except in the event of an emergency, in which reasonable attempts to notify the other Owner shall be made) and a written cost estimate from a qualified contractor explaining the need for the proposed work, the Association or either Owner shall have the right to cause to be performed such mutually beneficial work on within the Shared Use Areas as may be reasonably required from time to time, and to pay for the same, and to bill the Association such costs, or one hundred percent (100%) thereof to the extent the other Owner's negligence or intentional act was the reason for such maintenance, repair or replacement work. Any such bill not paid by an Owner within thirty (30) days of delivery of the bill shall bear interest at the rate of eighteen percent (18%) per annum from the date of mailing of the bill until paid in full. Finally, the Owner paying for the work shall have a lien on the Unit of the Owner failing to pay its share of the cost, for the amount of said defaulting Owner's share of the repair, restoration or maintenance cost, as more specifically provided in Section 13 below. Any work with respect to the Shared Use Areas shall be performed by a qualified contractor, which contractor shall carry liability, worker's compensation and other insurance as is standard in the industry for the type of work being completed. Said contractor shall provide, upon request by an Owner, a certificate evidencing the insurance carried by the contractor. All such work shall be performed in a good and workmanlike manner and in compliance with all applicable laws, regulations and codes. Pariv Wall Provisions. (a) Creation of Party Wall. The Units share a common wall located along a portion of the Dividing Line between Unit 1320 and Unit 1322 which separates the residences within the Units and constitutes, together with all foundation elements supporting such wall and the roof system immediately above such wall, the "Party Wall". The location of the Party Wall is shown on the Map and includes that portion of the exterior wall of Unit 1322 constructed on the Dividing Line. The rights and obligations of the Owners with regard to the Party Wall shall be governed by the provisions of this Section 6. (b) Easement for Encroachment. Mutual reciprocal easements are hereby established, declared and granted for any encroachment of the Party Wall onto either Unit. Every deed to a Unit, whether or not expressly so stating, shall be deemed to convey and be subject to such reciprocal easements. (c) Maintenance and Repair. No Owner shall do any act which would cause damage to or impair the structural integrity of the Party Wall. The cost of reasonable repairs to maintain the structural integrity and function of the Party Wall shall be shared by the Owners equally; provided, however, subject to Section 12(g) below, if the need for the repair is caused by the negligence or intentional act of an Owner, then such Owner shall be responsible for paying all C.1 RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 7 of 15, Janice K. Vos Caudill, Pitkin County, CO of the costs of such repair. Upon 30 days' written notice to the other Owner (except in the event of an emergency, in which reasonable attempts to notify the other Owner shall be made), either Owner shall have the right to cause to be performed such repair work on the Party Wall as may be reasonably required from time to time to maintain the structural integrity and function of the Party Wall, and to pay for the same, and to bill the other Owner for fifty percent (50%) of such costs, or was the reason for such repair work. Any such bill not paid by an Owner within thirty (30) days of delivery of the bill shall bear interest at the rate of eighteen percent (18%) per annum from the date of mailing of the bill until paid in full. Finally, the Owner paying for the work shall have a lien on the Unit of the Owner failing to pay its share of the cost, for the amount of said defaulting Owner's share of the repair cost, as more specifically provided in Section 13 below. Any work with respect to the Party Wall shall be performed by a qualified contractor, which contractor shall carry liabty, worker's compensation and other insurance as is standard in the industry for the type of work being completed. Said contractor shall provide, upon request by an Owner, a certificate evidencing the insurance carried by the contractor. All such work shall be performed in a good and workmanlike manner and in compliance with all applicable laws, regulations and codes. The color and exterior materials of that portion of the Party Wall that is an exterior wall of Unit 1322 shall not be changed without the consent of both Owners. (d) Damage by Fire or Casualty. If the Party Wall or any portion thereof is equally to the cost of restoration thereof without prejudice, however, to the right of each Owner to call for a larger contribution from the other under any rule of law regarding liability for negligent or intentional acts. The right of any Owner to contribution from any other Owner hereunder shall run with and be appurtenant to the land and shall pass to such Owner's successors in title. (e) General Rules of Law to Apply. To the extent not inconsistent with the provisions of this Declaration, the general rules of law regarding party walls and liability for property damage due to negligence or willful acts or omissions shall apply to the Party Wall and to the interpretation of this Declaration. 7. Common Elements. The "Common Elements" are (a) the Shared Use Areas; (b) any water line, sewer line, utility lines or other facilities located on the Property that serve both Units; (c) the Party Wall including the portion of the exterior wall of Unit 1322 located on the Dividing Line; (d) any shared structural or foundation elements in addition to the Party Wall that are necessary for the continued existence, common support, integrity, preservation, protection, to the Property that benefit both Units. The Common Elements are comprised of "general common elements", and the Map may be amended at some point to include "limited common elements", as such terms is defined in the Colorado Common Interest Ownership Act, C.R.S. § 38-33.3-101 et seq. Any general common element is designated by the initials "G.C.E." on the Map and, if added at some point, any limited common elements shall be designated by the initials "L.C.E." on the Map. Each Unit is allocated an undivided 50% interest in the Common Elements. Except to the extent otherwise provided in this Declaration, the Owner of each Unit (whether paid directly by the Owners or through the Association) shall be responsible for 50% of the costs incurred to maintain, repair or replace any Common Element (each, a "Common Expense"). A Unit's undivided interest in the Common Elements may not be severed from or transferred separately VA RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 8 of 15, Janice K. Vos Caudill, Pitkin County, CO 1• such Unit. Unless otherwise provided herein or •, the Map, the • • any Unit shall & responsible for and obligated to maintain, repair and replace, at its sole cost and expense, all parts and components of any L.C.E. appurtenant to such Unit. 8. Utilities. (a) Easements. There is hereby created and granted for the benefit • the Association and each Unit and any utility companies providing utility service to the Property, a YA-71 rvwgh vxvYWiin the residence located within each Unit) for the existence, use, replacement, repair, operation and maintenance of utility equipment and underground utility lines (including any pedestals and transformers) in their existing as -built locations. (b) Maintenance. Etc. All water, sewer, gas, electrical, telephone, cable . . . . . . . . . . ther util4, li I conduits located on the Pro,?,erti, are buried underground and shall remain underground and shall not be carried on overhead poles or above the surface of the ground (provided that meters, transformers and pedestals that are required to be above -ground are permitted). Each Owner shall be responsible for maintaining, repairing and replacing any utility lines or other facilities that exclusively serve such Owner's Unit. The Association (or the •, •r- shall be responsible for • of maintaining, repairing and replacing any utility lines or facilities that serve both Units. If an Owner fails to pay their share of any joint costs and x ther _Q_wn,r pats the entire costs- the Owner pay—ing for the work shall have alien on the Unit of the Owner failing to pay its share of the cost, for the amount of said defaulting Owner's share of the cost, as more specifically provided in Section 13 below. Any damage caused to any orfv,lx�fmrsafk- fol)FA--fif 0W_.1Y)kJ6- *f lj� itjkwir-mw; of any such utility facilities shall be repaired at the cost of the Owner whose Unit is serviced by the particular utility facility being replaced, repaired or maintained (with the Owners evenly splitting any such costs regarding any utility facilities that serve both Units). Each Unit shall be separately metered, serviced, and billed for purposes of utilities. Each Owner shall be responsible for arranging for provision of utilities to their respective Unit and shall only be obligated to pay for those utilities supplied or delivered directly to their respective Unit. (a) Structural InIgg jrir�,. Nothing shall be done to any Unit that will impair the zuthorization is obtained from both Owners. shall be permitted to occur anywhere on the Property. Nothing shall be done on the Property that may be or become an unreasonable annoyance or a nuisance to any other Owner or any tenant, guest or invitee of any Unit. Each Owner shall be accountable to the other Owner for the uses and behavior of its tenants, guests and invitees. 8 RECEPTIONM 675443, 04/12/2021 at 04:23:09 PM, Pgs 9 of 15, Janice K. Vos Caudill, Pitkin County, CO and ancillary outdoor furniture and furnishings. (d) Restriction on Occupancy. Each Unit shall be used and occupied solely residential purposes and no trade or business of any kind may be conducted on, in, or upon Unit. Lease or rental of a Unit for residential purposes shall not be considered a violation of th covenant and is permissible. The maintenance of a home office shall not be considered a violatio of this restriction so long as the nature and conduct of the business complies with applicable loc laws and regulations of the City of Aspen. (e) Leases. An Owner may lease his or her Unit provided that (i) the term any such lease is for at least one (1) month; (ii) all tenants executing a lease of a Unit are at lea 25 years of age; and (iii) the lease shall preclude tenants from having pets on or within the Uni The leasing restrictions contained in this paragraph 9 (e) may be waived on a case -by -case bas pm";4fai 4y4k- his or her Unit in advance of the lease commencement, which waiver shall not be unreasonabl withheld or delayed. All leases of a Unit or any portion thereof shall provide that the terms of t hvx- and any and all other applicable rules and regulations. (f) Maintenance of Units. Subject to Section 10 below, each Owner shall, such Owner's sole cost and expense (except as expressly provided otherwise in this Declaration (i) keep and maintain in good order and repair all interior and exterior building improvement appliances and mechanical systems on such Owner's Unit; (ii) replace any exterior finishing• other materials removed with materials of a similar color, type, kind, and quality; (iii) maintain i a neat and clean condition all the decks, yards, porches, roof, balconies and patio areas on suc Owner's Unit; and (iv) maintain in a neat, attractive and healthy condition, free of noxious weed all landscaping on such Owner's Unit. (g) Fencing. Each Owner shall be responsible for maintaining any fence( located on such Owner's Unit. No chain -link or barb -wire fencing shall be allowed. All fence shall comply with City of Aspen regulations. Neither Owner shall place or replace a fence alon the Dividing Line between the rear yard areas of the Units without the prior consent of the oth Owner. 10. Exterior Alterations. Without the prior written consent of the Owner of the other itwfiw_-"�•if the residence on his or her Unit to materially alter the architectural styling, materials, or color scheme of the exterior of such residence or depart from the general exterior design program for the Units (an "Adverse Change"). An Owner may make repairs, changes, additions, modifications, or alterations to the exterior of the residence on such Owner's Unit that do not constitute an Adverse Change without the prior consent of the Owner of the other Unit. At least 15 days before commencing work on any exterior addition, modification or alteration, the Owner proposing such work shall deliver written notice of such proposed work, includin•g the proposed plans for such work, to the Owner of the other Unit pursuant to the notice provisions of this Declaration. Any dispute between the Owners as to whether a proposed addition, modification or alteration constitutes an Adverse Change shall be resolved pursuant to Section 10 of this E RECEPTIONM 675443, 04/12/2021 at 04:23:09 PM, Pgs 10 of 15, Janice K. Vos Caudill, Pitkin County, CO Declaration. The preceding provisions shall not apply to any renovation, remodeling, alteration or modification to the interior of the residence on a Unit. 11. Dispute Resolution. If a dispute arises under this Declaration between the Owners that cannot be settled through inforTnal negotiations, the Owners shall select and meet with-2 mutually acceptable mediator in an effort to achieve resolution of the issue in controversy. The mediator shall be a member of the Pitkin County Bar Association with a practice specialty in real estate or another 3erson mutuallp acceCs�,table to the (carties, If the Ctarties cannot mutuall agree on one mediator within 15 days after an Owner receives a written request for mediation by the other Owner, then they may each select their own mediator (which selection must be made within 15 days), and those two mediators shall within 5 business days select a third mediator, and the third mediator alone) shall hear the issue ii coxtrovers -341 ile JudicialArbiteruroup, nc.o ienver, Colorado ("JAG"). I fie vwners, acting witti the arbitrator, shall then resolve the dispute in accordance with the Real Estate Industry Rules of the American Arbitration Association administered by JAG. All costs and fees of mediation and arbitration shall be shared equally between the Owners, unless the arbitrator determines that a party has substantially prevailed in the arbitration process, whereupon the arbitrator can re -apportion the fees and costs in an equitable manner as the arbitrator deems appropriate. All decisions of the arbitrator shall be complete, final and not subject to appeal. The foregoing is an agreement to arbitrate pursuant to the terms of the Colorado Uniform Arbitration13-22-201 et seq. and may be enforced as such. 12. Insurance, Indemnity and Waiver of Claims. (a) Casualty Insurance. The Association shall obtain, maintain and keep in effect property and casualty insurance with respect to the insurable improvements located on the Shared Use Areas (including the Entry and Driveway G.C.E. and Party Wall), for not less than the full insurable replacement cost thereof. The Association shall use its best efforts to cause each insurance -,tolicy, obtained bpi by way of subrogation against the Owners in connection with any damage covered by any policy. (b) Liability Insurance. The Association shall obtain. and maintain comprehensive liability insurance for bodily injury and property damage for the benefit of the Association and its officers, directors, agents and employees in amounts and with coverage as determined from time to time by the Board. All Owners shall be named as additional insureds for S1ziW,?M Elements and Shared Use Areas. Such liability insurance will have a coverage limit of not less than $1,000,000 per occurrence. (c) Directors' and Officers' Insurance. The Association may obtain and maintain directors' and officers' liability coverage in the amount it determines from time to time. (d) Fidelity Insurance. The Association may maintain fidelity insurance covering losses resulting from dishonest or fraudulent acts committed by the Association's W11 RECEPTIONM 675443, 04/12/2021 at 04:23:09 PM, Pgs 11 of 15, Janice K. Vos Caudill, Pitkin County, CO iirectors, officers, managing agents, trustees, employees or volunteers who manage the funds collected and held • the benefit • the Association. (e) Other Insurance. The Association may procure and maintain • �nsurance as the Board from time to time deems appropriate to protect the Association or the Ahmers. (f) Owners' Insurance. Each Owner has the following responsibilities with respect to insurance: (i) '• pense property insurance upon the Owner's Unit and all personal property, finishes, equipment and fixtures within the Owner's Unit or in to the • Unit, in such amounts, against such risks, and containing such provisions as the Owner may reasonably determine from time to time. Notwithstanding that each Owner may select the amount and type of such insurance, for purposes of the waiver of claims set forth in Section 12(g), each Owner is deemed to have elected to obtain such insurance on a 100% replacement cost basis. (ii) Liability insurance. Each Owner will maintain at its expense bodily injury and property damage liability insurance for the benefit of the Owner and any additional i:&wre-,Os by prudent owners of similar property; provided that such liability insurance will (i) be written as Iiij iii j*J jjj -fvmtvera -Aw "6*ciatio-c fur Vwrius; 5175 kil) imsurc MY oi Mr, 27STMET wit auumullui inSITC& parLics &Wdulst a liability • negligence resulting in death, bodily injury • property damage arising • of or in connection with the operation, use, ownership or maintenance of the Owner's Unit. (iii) Other Insurance. Each Owner may obtain additional insurance, at its own expense, affording personal property, condominium assessment, loss of rents, personal liability and any other coverage obtainable, to the extent and in the amount the Owner deems necessary to protect its interests. (g) Waiver of Claims. Except as otherwise provided herein, the Association will make no claim against any Owner or the members of the Owner's household for any loss, damage, injury or liability; and no Owner will make any claim against the Association, its Iota S7,vlrl�dys I ro ='MrTM7 [,i,urposes of this Section, the deductible or self-insurance amount under any property insurance- f,wlicy required to be, or in fact, maintained by a waiving Person is deemed to be covered by the ff,olicy so that, in addition to waiving claims for amounts in excess of the deductible or self= a451V [Fierson waives all claims for • within the deductible or self-insurance retention. V RECEPTIONM 675443, 04/12/2021 at 04:23:09 PM, Pgs 12 of 15, Janice K. Vos Caudill, Pitkin County, CO (h) Proceeds. The Association has no claim to, and each Owner may receive, all proceeds of any insurance policy maintained by such Owner. The Board is solely responsible for adiustment of anv losses under insurance policies maintaintt&14qhi---A.�sm--L,-!.t*.•11 irrevocably appointed the agent of all Owners, Security Holders and other persons having an interest in the Property for purposes of adjusting all claims arising under insurance policies maintained by the Association and executing and delivering releases when claims are paid. The Association may receive all proceeds of any insurance policy maintained by the Association, except other insured parties under liability insurance policies will be entitled to proceeds arising out of their insured losses. The Association will hold any proceeds of any property insurance it maintains in trust for the Owners and Security Holders, as their interests may appear. The Board will disburse the proceeds of any property insurance relating •to damage to any Unit or Common Element in accordance with the terms of this Declaration. (i) Indemnity. Except as otherwise set forth herein, Each Owner will be liable to and will protect, defend, indemnify and hold harmless the other Owner from and against any and all damages, claims, demands, liens (including, without limitation, mechanics' and materialmen's liens and claims), losses, costs and expenses (including, without limitation, reasonable attorneys' fees, court costs and other expenses of litigation) and liabilities of any kind or nature whatsoever arising from personal injury or death to a person or damage to tangible property (collectively referred to as "Claims") suffered or incurred by, or threatened or asserted against, such other Owner as a result of or in connection with (i) the willful misconduct, recklessness, negligence, breach of applicable laws, or default under this Declaration by the indemnifying Owner or its tenants, guests, licensees or invitees; (ii) any repair, restoration, tlacemenA- alteration or other construction, the Property contracted for, or performed by, the indemnifying Owner or its tenants, guests, licensees or invitees; (iii) any default or breach under the terms of this Declaration; or (iii) the operation, use, ownership or maintenance of the indemnifying Owner's Unit or the Common Elements (including any Shared Use Areas) by the indemnifying Owner or its tenants, guests, licensees or invitees. Nothing contained in this paragraph will be construed to provide for any indemnification which violates applicable laws or voids any or all of the provisions of this paragraph. 13. Lien Rh!ht. In the event either Owner is delinquent on payments due hereunder and the non -defaulting Owner '"aw"Y'R have a lien right for such unpaid amounts, which lien right shall be evidenced by a written notice, setting forth the details of the delinquent bill, which is signed and sworn to before a notary public by the Owner claiming the lien, and which is recorded in the Office of the Clerk and Recorder of Pitkin County, Colorado. Said lien may be foreclosed in the same manner as mortgages are foreclosed under the laws of the State of Colorado. Any such lien shall be subordinate only to the lien of the holder of a first mortgage or deed of trust and to liens for real estate taxes and other governmental assessments or charges against the Unit. If an Owner initiates foreclosure proceedings in order to enforce lien rights created by this instrument, such Owner shall be entitled to recover in that action all foreclosure costs including, without limitation, reasonable attorneys' fees. I 1M.4 gvj I a I I erg Ig a I $I m rlqbj r! I ip! I I w I W-3 ar! I I a' 1 1' 014 Oil NVAIM-11 MININIM141 IM I IN RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 13 of 15, Janice K. Vos Caudill, Pitkin County, CO M 194ir-2 11M I till I (a) Duration/Amendment of Declaration. The terin of this Declaration shall be fterpetual unless both Owners agree in writing to its termination. This Declaration may only be *1'-"TfP6G0a1 V• 'r` 1,99 1W1 *ffice of the Clerk and Recorder of Pitkin County, Colorado. (b) Enforcement. Each of the covenants, obligations and undertakings in this WHE provisions set forth in this Declaration. Such enforcement rights shall include without limitation the right to bring an action to recover a money judgment for unpaid amounts owed, for any form of injunctive or other equitable relief available under Colorado law (including specific performance), or an action for damages, or any combination of the above remedies. For any such action brought by an Owner, the prevailing party shall be awarded its reasonable attorneys' fees and costs incurred in connection therewith. (c) Subject to Cio,,' of AVen Zoning Regulations. Ihe Owners acknowledge that any,-,��, chang "WEG--- the approval of the City of Aspen. (d) No Partition. The partition of any interest in the Units is prohibited. The Owners hereb forever waive an iyi�y t �to rnaintain �alegal %partition action of the Proye��� portions of the Units; provided, however, an action for partition of any undivided ownership interests in a single Unit shall be permitted by a sale of the Unit and the division of the sale proceeds in accordance with applicable law. (e) SeLiarate Taxation. Each Unit shall be a separate tax parcel and shall be ftr 41 law, including ad valorem levies and special assessments. The Common Elements shall not be deemed to be a separate tax parcel. The lien for taxes assessed to any Unit shall be confined to that Unit. No forfeiture or sale of any Unit for delinquent taxes, assessments or other governmental charges shall divest or in any way affect the title to the other Unit. (f) Easements. The Property is subject to all easements as shown or created on the Map, those of record, those provided under applicable laws and those set forth in this Declaration. IN RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 14 of 15, Janice K. Vos Caudill, Pitkin County, CO IN WITNESS WHEREOF, Declarant has executed this Declaration as of the day and year first above written. DECLARANT: CBS 1320, LLC, a Colorado limited liability company By: , W A44 Name: rad Crawford Title: Manager STATE OF COLORADO ) ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of April, 2021 by Brad Crawford, in his capacity as manager of CBS 1320, LLC, a Colorado limited liability company. Witness my hand and official seal. My commission expires: (0[2-1 [2-3; J aLYN v WOODNotary' PubI,iG1 NOTARY PUBLIC STATE OF COLORADO } NOTARY I® 2019 23811 Y CO ISSI EXPO DUNE24,2023 14 RECEPTION#: 675443, 04/12/2021 at 04:23:09 PM, Pgs 15 of 15, Janice K. Vos Caudill, Pitkin County, CO Exhibit A Legal Description of Property Unit 1320 and Unit 1322, 1320 Snowbunny Lane Condominiums, according to the Condominium Plat recorded April , 2021 in Plat Book at Page and as defined and described in the Condominium Declaration recorded April _, 2021 as Reception No. I which Plat and Declaration reflect the condominiumization of Lot 4, Block 2, of Snowbunny Subdivision, as shown on the plat recorded May 2, 1957 in Plat Book 2A at Page 229. County of Pitkin, State of Colorado . 15