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HomeMy WebLinkAboutordinance.council.026-91 OP~DINANCE NO. ~ (Series of 1991) AN ORDINANCE PJ%TIFYING AND A~PROVING AMENDM]ENTS TO THE FIRST AMENDED AND RESTATED PLANNED UNIT DEVELOPMeNT/SUBDIVISION AGREE- MENT FOR THE ASPEN MOUNTAIN SUBDIVISION. WHEREAS, on March 15, 1991, Savanah Limited Partnership ("Savenah") submitted a written petition to the City Council pursuant to Section M of the First Amended and Restated Planned Unit Development/Subdivision Agreement ("PUD Agreement") for the Aspen Mountain Subdivision seeking an extension in construction schedule deadlines governing construction and development within the Aspen Mountain Subdivision; and WHEPdEAS, hearings were conducted before City Council on April 17th and May 21st and 29th, 1991, during which Savanah successfully demonstrated that the reasons necessitating exten- sions in various construction schedule deadlines were beyond its control; and WHEREAS, Section M of the PUD agreement authorizea amend- ments to construction schedule deadlines under circumstances as demonstrated by Savanah. NOW, THEREFORE, BE iT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, THAT: Section 1 The following amendments to the First Amended and Restated Planned Unit Development/Subdivision Agreement for the Aspen Mountain Subdivision, as amended, are hereby ratified and ap- proved: 1. Savanah's construction schedule deadlines as set forth in Section A2 of the PUD agreement, and aa previously amended by that Section M amendment exeoutsd on June 11, 1990 (recorded in Book 627 at Page 457 in the records of the Pitkin County Record- er) are emended to provide as follows: Certificate of occupancy Ice Rink/Perk 10/1/91 10/1/92 Certificate of occupancy Ritz-Carlton Hotel 10/1/91 10/1/92 Building permit issuance Ute City Place 10/1/91 4/1/92 Certificate of occupancy S,~it Place S/~/92 8/1/93 Certificate of occupancy Uts City Place 6/1/93 same Demolition permit for Lot 5 Grand Aspen Hotel 10/1/94 10/!/95 Building permit issuance Top of Mill 10/1/95 same Building permit issuance Hotel Phase II 10/1/96 same Certificate of occupancy Top of Mill 6/1/97 same Certificate of occupancy Hotel Phase II, Lot 5 6/1/98 same 2. Section L of the PUD agreement is amended to provide as follows: "It is mutually a~knowledged and verified between city and owner that pursuant to Municipal Code Section 24-11.2(a), Owner has the right, following their demolition, to recon- struct within the Aspen Mountain PUD a total of 275 hotel units and a total of 42 residential units. The original location (source) of these reconstruction units is identi- fied on the Schedule 9 update attached hereto and made apart hereof by this reference. Furthermore, the City hereby agrees and confirms that for the 18 previously demolished residential units as identified on the Schedule 9 update attached hereto, Owner shall have one (1) year from the date of issuance of the demolition permit for the Grand Aspen Hotel to reconstruct same." (The Schedule 9 update is attached hereto and incorporated herein as part of the A~endment.) Section 2 The amendments as provided for herein are subject to all the tel-ms and conditions as set forth in that wTltten decision issued by city Council pursuant to Savanah's petition dated March 15, 1991, requesting extensions in the above-described construction schedule deadlines, a copy of which is and attached hereto as Exhibit 1. Section 3 Furthermore, the a~end~ents am provided for herein are to be reflected in that written amendment document attached hereto as Exhibit 2 which shall be executed and filed in the records of the Pitkin County Clerk and Recorder's Office. S~c~ion 3 This ordinance shall not have any effect on existing litiga- tion and shall not operate as an abatement of any action or proceeding now pending under or by virtue of the ordinances 3 repealed or amended as herein provided, and the same shall be construed and concluded under such prior ordinances. Section 4 If any section, subsection, sentence, clause, phrase or portion of this ordinance is for any reason held invalid or unconstitutional in a court: of competent Jurisdiction, such portion shall be deemed a separate, distinct and independent provision and shall not affect the validity of the remaining portions thereof. Section $ A public hearing on the ordinance shall be held on the c~ day of ~ - , 1991, in the City Council Chambers, Aspen city Hall, Aspen, Colorado. INTRODUCED, R~AD AND ORDEP~D PUBLISHED as provided by law by the City Council of the City of Aspen on the /~ day of ~-~-~-- , 1991. am . S irling, Mayor ATTEST: Jch, city Clerk ~N'ALLY adopted, passed and approved t_hie ~/ day of '--~-r~.~ , 1991. John Bennett, Mayor h, City Clerk 4 BEFOP~E THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO IN RE THE ~ATTER OF SAVANAH LIMITED PARTNERSHIP'S REQL~ST FOR A SECTION M A}fEND~NT TO THE FIRST AMENDED AND R~STATED PLANNED UNIT DEVELOPM]~NT/SUBDIVISION AGP~EE/~ENT FOR THE ASPEN MOUNTAIN SUBDIVISION. This matter is before the City Council upon the petition of Savanah Limited Partnership ("Savanah") pursuant to Section M of ~he First Amended and Restated Planned Unit Development/Subdivi- sion Agreement for the Aspen Mountain Subdivision ("PUD Agree- ment''), seeking certain extensions in the construction scheduling for subdivision development. Pursuant to Savanah's petition, a public hearing was convened upon notice on April 17, 199!, which was continued for further proceedings to May 21st and 29th, 1991. Savanah appeared, with legal counsel, and produced testimony and other evidence in support of its petition. Additional testimony and evidence on the matter was submitted by the City staff end members of the public. Having heard all of the offered testimony and argument and having reviewed the docu2mentary evidence as submitted and made part of the record herein, the City Council finds as follows: 1. On March 15, 1991, Savana/~ submitted a written petition to the City pursuant to Section M of the PUD Agreement seeking an extension in the present construction schedule deadlines govern- ing construction and development within the Aspen Mountain Subdivision. ,, 2. Section M of the PUD Agreement provides as follows in its relevant part as pertinent hereto: "... the Owner or its successors or assigns nay, on its own initiative, petition the city Council for a vari- ance, an amendment to this Agreement, or an extension of one or more of the time periods required for perfor- mance under the Construction Schedules or otherwise. The City Council may grant such variances, a~endnents to this Agreement, or extensions of time as it may deem appropriate under the circu~stances. The parties expressly acknowledge and agree that the City Council shall not unreasonably refuse to extend the time peri- ods for performance indicated in one or more of the Construction Schedules if Owner demonstrates by a preponderance of the evidence that the reasons for the delay(s) which necessitate such extension(s) are beyond EXHIBIT the control of the owner, despite good faith efforts on its part to perform in a timely manner." 3. Savanah seeks extensions in the current construction schedule deadlines as follows: From To (i) Certificate of Occupancy Ice Rink/Park 10/1/91 10/1/92 (ii) Certificate oflOccupancy Ritz-Carlton Hotel 10/1/91 10/1/92 (iii) Building Permit Issuances Ute City Place 10/1/91 4/1/92 (iv) Certificate of Occupancy Su~it Place 8/1/92 8/1/93 (v) Demolition Permit Grand Aspen Hotel 10/1/94 10/1/95 4. Savanah has alleged that the following facts and/or circumstances have caused delays in the progress of construction of the Ritz-Carlton Hotel component of the subdivision develop- ment and that such facts and circumstances were beyond its control: (i) The Persian Gulf War and resulting adverse impact on Savanah's principal financing resources situat- ed in Saudi Arabia, including the non-liquidity and non-transferability of Saudi Arabian currency. (ii) The general economic slow down and recession im- pacting the economy of the United States and, particularly, the hotel and resort segment of same. 5. City Council finds that Savanah has been able to demonstrate by a preponderance of the testimony and evidence as established in the record that the Persian Gulf War and its resulting impact on the Saudi Arabian currency (riyal) has adversely affected Savan~_h's ability to finance its construction activities associated with the Aspen Mountain Subdivision and that such factors have caused delays in the progress of construc- tion that were beyond the control of Savanah despite its good faith efforts to perform. 6. City Council further finds that Savanah has not been able to demonstrate by a preponderance of the testimony and other evidence presented that general economic or receesionary condi- tions existing in the United States economy have caused delays in its construction activities or schedules associated with the development of the subdivision, or that alleged adverse economic conditions as may be affecting the project were the result of facts or circumstances beyond Savanah's control. 7. City Council further finds that the testimony and other evidence as reflected in the record before it establishes by a preponderance that internal legal disputes and management dis- agreements between the partners have exacerbated and contributed to the delays in the project's construction schedules and that such factors were within the control of Savanah. 8. The delays in the construction schedules for the Ritz- Carlton Hotel have and will cause significant disruption in the city's downtown core area by ex~aending construction activities and the adverse traffic, dust, noise and visual impacts associat- ed therewith. 9. The preponderance of the evidence presented by Savanah does not demonstrate that Savanah will complete the construction of the Ritz-Carlton Hotel, thus, warranting the imposition of additional financial assurances upon Savanah to protect the City and the citizens of Aspen from the adverse impacts of an unfin- ished construction project. NOW, THEREFOR~t BASED UPON T}tE ABOVE ~ POR~GOING, City Council does hereby grant to Savanah Limited Partnership the following extensions to the construction schedule deadlines for the Aspen Mountain Subdivision, which extensions shall be incor- porated into a written amendment to the PUD Agreement pursuant to Sections M end 0(6), subject to those terms and conditions as set forth below: EXTENSIONS !. Certificate of Occupancy Ice Ri~Lk/Park . 10/1/91 10/1/92 2. Certificate of Occupancy Ritz-Carlton Hotel 10/1/91 10/1/92 3. Building Permit Issuance Ute City Place 10/1/91 4/1/92 3 4. Certificate of Occupancy Su~mit Place 8/1/92 8/1/93 5. Demolition Permit for Lot 5 Grand Aspen Hotel 10/1/94 10/1/95 CONDITIONS 1. Savanah shall upgrade the entire exterior fence (with screening) adjacent to the Ritz-Carlton Hotel construction site and Ice Rink/Park site. With regard to the visual appearance of the Ice Rink/Park parcel, the fence will be moved approximately twenty feet to the South off of the Durant Street curb, and all areas exterior to the fence, except for the parking lot, shall be seeded. A gravel path shall also be installed in this area. Fugitive mud and dust prevention measures will be utilized on these sites. All construction materials stored on the Ice Rink/Park site shall bm removed from public view at street level. Ail of these items shall' be completed by Aug,/st 1, 1991, and to the satisfaction of the public Works Director. 2. The construction entry to the Blue Spruce off of Durant Street shall be cleaned up and not utilized for construction activities and the site shall continue to be fenced (with screen- ing). This shall be completed by September 1, 1991, and to the satisfaction of the Public Works Director. 3. The Blue Spruce structure shell be cleared of construc- tion materials and scaffolding shall be concealed from public view at street level. These items sh~ll be completed by Septem- ber 1, 1991, and to the satisfaction of the Public Works Direc- tor. 4. A safe pedestrian path shall be installed on the East side of Mill Street between the Ritz-Carlton Hotel construction site and the Grand Aspen Hotel. This shall be completed by July 1, 1991, and to the ~at~sfaction of the Public Works Director. 5. Temporary patch work shall be installed on Mill Street between the Grand Aspen Hotel and Ritz-Carlton construction site. This work shall be completed by August 15, 1991, and to the satisfaction of the Public Works Director. 6. Patch work on Dean Street shall be installed in front of the Grand Aspen Hotel and shall be completed by July 1, 1991, and to the satisfaction of the Public Works Director. 7. Bank stabilization on both the South and West sides of the Ritz-Carlton Hotel construction site shall be completed by 4 September 1, 1991, and to the satisfaction of the Public Works Director. 8. Savanah shall apply for rezoning of the Ice Rink/Park parcel to a "Park" zoning designation by July 1, 1991. If Savanah does not apply for such rezoning, the City shall initiate rezoning with all fees to be paid by Savanah. 9. Savanah shall submit a final development plan for the Ice Rink/Park parcel to the city by September 25, 1991. 10. Savanah shall, complete submission of all necessary infoz-mation for a "Number 1" building permit for the Ritz-Carlton Hotel to the Building Department by July 8, 1991. A list of the outstanding documents and/or information Savanah has yet to provide the Building Department pursuant to its building permit application is attached hereto as Attachment 1. 11. Savanah shall obtain and city shall issue the "Number I" building permit by September 1, 1991, and all necessary fees and applicable taxes shall be paid by Ssvanah at that time. 12. Savanah shall secure and fence Sum%mit Place and remove all debris from the site. The West wall shall also be repaired. These items shall be completed by August 1, 1991, and to the satisfaction of the Public Works Director. Alternatively, Savanah may elect to demolish the Su~it Place structures provid- ed that said demolition is completed by August 1, 1991. 13. The construction schedule submitted by Savanah (Attach- ment 2) shall be substantially adhered to as determined by city staff. 14. Savan~_h shall post a cash bond or similar liquid financial assurance in an amount no less than Four Million Dollars ($4,000,000.00) to secure the demolition of the Ritz- Carlton Hotel site. Savanah shall have thirty (30) days from the date of this decision to reach agreement with the City Attorney as to the form of such financial assurance. The financial assurance, in a form satisfactory to the City Attorney, shall be posted by Savanah no later than September 1, 1991. 15. All fees owed to the city for the processing of any land use application, including fees associated with Savanah's petition for a Section M amendment, shall be paid by September 1, 1991. 16. Savanah shall have one (1) year from the date of issuance of the demolition permit for the Grand Aspen Hotel to 5 reconstruct the eighteen (19) residential units previously demolished pursuant to the subdivision development. This condi- tion shall constitute and be incorporated as a formal amendment to Section L of the PUD Agreement. 17. Savanah shall comply with all representations and conditions as contained in its letter dated May 1, 1991, exclud- ing the construction schedule attached thereto, submitted by F. Belz and J. I~briani, and addressed to the City Attorney (Attach- ment 3 hereto). 18. Savanah shall acknowledge and agree to the transfer and application by the City of some or all of the $535,000.00 pledged by Savanah to secure performance of the landscaping associated with the Ritz-Carlton Hotel (such pledge presently in the form of an irrevocable letter of credit, citibank Ref. 40051455) toward the installation and completion of public street, sidewalk, curb and gutter improvements in the subdivision in the event the hotel is not completed and funds presently or in the future to secure such improvements are or become insufficient to do so in the opinion of the Public Works Director. 19. The effectiveness of the extensions as granted herein shall be contingent upon Savan~_h's compliance, as determined by the City Staff, with all of those conditions as set forth above. In the event that any condition as set forth above is not sub- stantially complied with, then all extensions as granted herein shall automatically be rendered invalid and such failure(s) to comply shall constitute non-compliance with the First A~ended and Restated PUD/Subdivision Agreement. Savanah shall thereafter be entitled to a hearing before City Council to determine sanctions or penalties for its non-compliance, which may include the revocation or termination of any or all approvals contained in the PUD Agreement. Done this /~day of ~ , 1991. City Council of the City ~f_Aspen Mayor city Cle 6 Attachment 1 "N-JM_BER 1" BUILDING PEP~IT COS~PLIANCE LIST 1. Hazardous material storage documentation in laundry and maintenance areas. 2. Fire-resistive requirements and occupancy separation documentation complying with Table 5-B, Table 17-A and Chapter 18 of the Uniform Building Code (1988 Edition). 3. U.L. roof assembly design complying with Table 17-A and Section 1806 of the Uniform Building Code (1988 Edition). 4. U.L. Fire Resistive Directory, January 1984 Edition. 5. One-hour fire-resistive door asse~b!y documentation complying with Section 503(c)4 of the uniform Building Code (1989 Edition). 6. Entry level corridor construction and protected opening docu~entation complying with Section 3305 of the Uniform Building Code (1988 Edition). 7. Entry level door assembly docu~entation complying with Section 3305(h) of the Uniform Building Code (1988 Edition) for doors 149, 150, 143A and !43B. 8. Handicapped accessible design docu-~entation for the grille/bar area and lower level as depicted on Sheet A2.!4, and for water closets in the guest room and turning radius for the employee locker rooms, complying with Colorado Revised Statute, Title 9, Article 5 end ANSI All7.1. 9. Design documentation for the elevator lobby at the club lounge complying with Section 1S0?(h} cf the Uniform Building Code (1988 Edition). - Attachment R~. JUNE 6, 1991 CONSTRUCTION SAVANAH, LTD. PARTNERSHIp ASPEN, COLO~DO COMPLETE BACKFILL IN~E~OR FINISH BUILDING A ~ RITZ-CARLTON ASPEN SAVANAH, LTD. PARTNERSHIP ASPEN, COLORADO 0 0 · ' Attachment 3 bray 1, 1@91 /~ir Edws.~d ~, Caswall City Attorney City of ~pen 1~0 S ~pe~ CO 81511 The ~z-Cm-l~o~ ~p~n S~tlon ~ ~en~ent Eequest Edw~d ~. C~w~ le~er of AprJ 10, 1991 De~ ~, C~ B~ed upon ~c~slo~ a~ the City Co~c~ 51eetL-.g ~f April 17, 1991, on ~he referenced sub~ect a meeting ~th the C~ty s~ on Ap~ 22, 1991, on the reT~r-need subject, the co~ents on yo,~ letter of April 10, In the City Cocci ~[eetm~, the O~mer of the ~tz-Carkon site, Sav~-~ L~ted P~ners~p, presented %he~ request for a one ye~ ex~on of the completion ~te m the P~ for the ~o t~ slower pace ?ne P~ne~p, at ~ ~e, aoes no~ end. ion a s~pe~lon of actl%~%, ~erefore, m ~cord ~th o~ meeting, the fo~o~ ~e o~ co~ez~ an ~n 1, ~ ~t of contm~g ~ruc~on on Che proj~% work on the she~ of the hotel (See at~hed Co~c~on S~ed~e for the e~t work ~d N~mg ther~f) 2, ~ost of the b~ ~te~ a~ t~ t~e ~-e stored ~ide of lhe hotel struct,~e, re~mder ~ be ~dden from pubhc ~ew m the~ p-esent lo.non be~d ~es~g, Some of these ~cer~ ~e no~ ~:~ :he hocel 8, The lower s~p p,~ps ~ no: req~e au~mat~c acbva~ion ~ the co~truct~on worxers mom%or ;he level or ~he s~p ~ p~p ~ ~ req~e& T~ ~ the press tMt ~ -on t~o~hout ~e co~ruc[lon of the hotel 600 Eas' Coops- S~'cc% Sul'~ 20~ ~..~pc, r Co,o) Section ~ .,~nend_~uenL ~eque~ Pace two 5/1/91 4, See attached Construction Schedule for tb.~ work, 5, Opardn~ w~d] be protect`ed durLn~' the contmu~n~ cons~:ructlon, aeccrdung to OSI-T_A requuremenL~ In adcht~on~ concrete work w~l be done on the '~-~e roof," ~ work ~ ehm~nate a lot of the open, unsafe conditions on the hotel plaza area. The construction cranes have been removed 8. The contract, or ,,mJJ cont`unue t`he[r te~:nporary uti~ty services as required for const`ruct~on. Sunce construction ts continuln~, a diagram ~llustrat. ing ul.[i]t`y syst`erns on site at LkJs uuterum stage ts not. appropriate. As-budt., under,round uf. kht`y drav4n~s Lq pubhc H~ht of wn.v~, have been pro~4ded to Bob Gmh There tm one outm~indzng as-bu.dt that` needs to be proquded, and tka~. wit1 be provided vC. thnu the next 80 days 7. Temporary builchn~, trailers and sf. ored matermls ~%~J stflJ be required since we are continuing' eonstruct).on, ri~ znc]udes t`hose iten~ on the Top of ~ Street and the Ice F4_uk parcel. VClth re~ard %o the v~ua~ appearance of the Ice P~uk parcel, we propose moving the fence apprommste]y twenty feet %O the South off the Duranf. street curb, pro,nde seeding and a gravel s~dawa/k in thi~ area. In addJtmr% t`he fence parallel to Durant ~reet` ~I1 be upgraded ~usu. a~y, Fu~.t~ve mud and dust prevention measures have alwa)m been required of our cont.-ac:or and ~%11 be aF.g~resaively enforced, 8. Since we are contmui.~ construction, there %':.I1 be some tempor~'y construe:ion winding, shor4~ and hracau~ m place, but only as part` of f. he construct, ich work I~ 'w-2l not be a permanent tutu. trion. 5test` of tl-~s temporary work wn/J. be el~rnlua~ed by the construction I~ t,o take place over the next four mont. h~ 9, The items indlc~ted under th.m request are no~, required since we are ccn~mum~' construction, 10, Three of the four fu'e hydrants requured by f. he PLrD are in~tal~ed and activated. For t`he fourth one, see the atr-~'hed Con~t`ruction Schedule 1!, W'e intend ~o clean up and SLm--~Cu~en up the securky fence that i~ currently uz place ;22 Thi~ work w~ ~ke p~ace w~:h the hermit sequence of const, rucdon. See the Const`rucd. on Schedule, It does not m~We ~enae %O Lu.s'cm/] curbs, ~u:tar~ and szdew~l'k'~ at this :i.%e, as they w'J.1 just be ~orn up by the conthuum~ const`rucf, zom 13, Je~ey barriers ~ need to be m~ln~med for public The Blue Spruce second level slab ~ be poured v4~hm the ne~ three men:ks ehmm~e mos: of the debris, temporary scaffolding s.ud form work, See the atu~mhed Con. rue:ion Schedule, Sect[on I~{ An~end~nent Request Page th]-ee The Gr~ud A~pen Hotel ~ need to conthuue as e construction headqu~ters ~d ho~mg f~ty for the co~t~ct~on ~'orkers 16, S~{t P~e ~ be properly s~ ~d p~[ of ~t ~ be fenced to preven~ ~y a~ess edition, ~ of the s~te ~ be clewed up, ~so, ~he ~'est w~ %~ be rep~ed ~d clewed up S~uri~ pe~o~ from ~he ~tz-C~l~on ~e ~ ~o~or the proper~y ~o ~n~e s~e ~u[hor~zed ent~ does no~ ~e p~ce, 17 The Bm-bee ~'cel ~ c~ently f~]y cle~ ~y ~or c~e~ up ~ be ~en ~e p~ce] c~rent]3 ~ vege~t~on ~d ~o~d cover. 18. The contractor ~ ~ ~he const~ctlon si~ge, ~ req~ed. 19 De~ S~reet ~ front of the Gr~d ~pen Eotel %~ be pa:ched 21 ~e ~ow of no ou~g fees or b~ due to the C~:y at t~ t~e, ~e ~e res~c~.g one ~ ad~t~c~ ~e ~e mee~ ~h ~ ~ke of the Dolc~tes ~d ~ph ~ei~e cf the C~et to ad.ess some of the~ conce~ Other t~ the above ~e~, %ye ~e not a~e cf ~3 City reques~ ~th re~d ~ co~t~ction work on the job s:te ~ p~t of o~ S~:]on ~ reques~ ~there ~e others, pi~e no~ ~ ~e ~de~d the C:~"s concern about the ~t ghe proof[ h~ ~d on the to~ of ~en project. Ob~m~lU$ a one ye~ ex~e~0n for co~pletlon ~ f~it~{e o~ ~ysm ~d the for comp]e:ion of the pro3ec: Lc: ~ ~ow ~ there m f~her ~o~ion ~tk w~ we supply you, ~ you for yo~ co~derat~on Bob Hu~has, Esq, 5~c ~)~t~ Esq A~NDM~NT TO THE FIRST AMENDED AND RESTATED PT.%NNED UNIT DEVELOPMENT/SUBDIVISION AGREEMENT FOR THE ASPEN MOUNTAIN SUBDIVISION THIS AF. ENDM~NT to the First Amended and Restated Planned Unit Development/Subdivision Agreement for the Aspen Mountain Subdivision ("PUD Agreement"), being entered into between the City of Aspen, Colorado ("City") and Savanah Limited Partnership ("Savanah" or "Owner") on this day of , 1991, provides as follows: RECITALS WHEREAS, on March 15, 1991, Savanah submitted a written petition to the City pursuant to Section M of the PUD Agreement seeking certain extensions in the construction schedule deadlines governing construction and development within the Aspen Mountain Subdivision; and W]fEREJ~, hearings were conducted before the city Council on April 17th, May 21st and 29th, 1991, during which Savanah suc- cessfully demonstrated that the reasons necessitating e>ctensions in the existing construction schedule deadlines were beyond its control; and ~7HER~AS, Section M of t/~e PUD Agreement authorizes exten- sions of the time periods for construction schedules upon a proper showing; and ~-F~EREAS, Section 0(6) of the PUD agreement authorizes amend/nents to the Agreement by written instrument executed by the parties thereto. NOW, THEREFORE, in consideration of the mutual covenants and conditions as contained herein, it is agreed that the provisions hereirubelow shall amend the PUD Agreement as follows: 1. Savanah's construction schedule deadlines as set forth in Section A~ of the PUD Agreement, and as previously amended by that Section M amendment executed on Jume 11, 1990 (recorded in Book 627 at Page 457 in the records of the Pitkin County Record- er), are amended to provide as follows: Certificate of occupancy Ice Rink/Park 10/1/91 10/1/92 Certificate of occupancy Ritz-Carlton Hotel 10/1/91 10/i/92 EXHIBIT 2 Building permit issuance Ute city Place 10/1/91 4/1/92 Csrtificats of occupancy su~it Place 8/1/92 8/1/93 Certificate of occupancy Ute City Place 6/1/93 same Demolition permit,for Lot 5 Grand Aspen Hotel 10/1/94 10/1/95 Building permit issuance Top of Mill 10/1/95 same Building permit issuancs Hotel Phase II 10/1/96 same Certificate of occupancy Top of Mill 6/1/97 same Certificate of occupancy Hotel Phase II, Lot 5 6/1/98 ss~e 2. Section L of the PUD agreement is a~ended to provide as follows: "It is mutually acknowledged and verified between City and Owner that pursuant to Municipal Code Section 24-11.2(a), Owner has the right, following their demolition, to recon- struct within the Aspen Mountain PUD a total of 275 hotel units and a total of 42 residential units. The original location (source) of these reconstruction units is identi- fied on the Schedule 9 update attached hereto and made apart hereof by this reference. Furthermore, the City hereby agrees and confirms that for the 18 previously demolished residential units as identified on the Schedule 9 update attached hereto, Owner shall have one (1) year from the date of issuance of the demolition permit for the Grand Aspen Hotel to reconstruct same." (The Schedule 9 update ia attached hereto and incorporated herein as part of this Amendment.) 3. The amended construction schedule deadlines as provided for in paragraph 1 above shall be and remain in force and effect only insofar as Savanah ~omplies with all of those terms and conditions as set forth in that written decision of the City Council of the City of Aspen attached hereto as Exhibit "1" and incorporated herein, that was issued upon and in response to Savanah's petition of March 15, 1991, seeking a Section M amend- ment. 4. Ail other terms and conditions of the PUD Agreement and the previous Section M amendment dated June 11, 1990, not incon- sistent or superseded by this amendnent, shall remain in full force and effect. 5. This a~endnent document shall be promptly recorded in the records of the Pitkin County Clerk and Recorder's office. IN WITNESS WHEREOF, the parties have hereunto set their signatures on the day and year as first %rritten above. THE CITY OF ASPEN Mayor ATTEST: City Attorney STATE OF COLORADO ) ) SS, County of Pitkin ) The foregoing instrument was ackn_o~ledge~ ~$fo~ me ~his as Mayor an~/~athr!rn S. Koch, City Clerk, of tSe City of~spen, Colorado. ~ WITATESS MY HAND AND OFFICIAL SEA/~. My commission expires: Address SAVANAH LIMITED PARTNERSHIP By: ASPEN ENTERPRISES INTERNATION- AL, INC., General Partner By: APPROVED AS TO FOP_M: Attorney of Savanah Limited Partnership STATE OF ) ) SS. County of ) The foregoing instru~nant was acknowledged before me this day of , 1991, by WITNESS MY HA_ND A_hq) OFFICIAL SEAL. My co~ission expires: Notary Public Address 4 Revised 5/24/91 SCHEDULE 9 UPOATE Resident?aL an(~ Lodge Unit Ver?f?cation ASPEN HTN NUMBER OF UNiTs SUSDiVISN DEMOL- DATE REMAIN° UNITS TO BE EXPIRATION OF PROJECT LOT NO. LEGAL / ADDRESS TOTAL ISHED DEHO'~. ING_ RECONSTRUCTED RECONSTRUCTION Eestdentiat Units: A. Nlue Spruce Lodge~ North 1 Lots A-D, Block 84t Townsite 2 2 07/03/85 0 Lot 3 & 5 See Note Wing (303 East Ourant Avenue) B. North Aspen Inn Apartments 1 Lots 7 & 8t Block 3, Connors 6 6 07/03/85 0 Lot 3 & 5 See Note 3 Addition C711 South Milt Street) 1 Lots 11 & 12, Stock 3, Connors~-' 1 1 04/15/85 0 Lot 3 & 5 See Note 3 · Addition (300 East Juantta St.) (320 East duanita Street) 1 1 04/15/85 0 Lot 3 & 5 See Note 3 C. HiLlside Lodge 61 Lots A & B, Slock 91, Townstte 14 14 10/15/90 0 Lot 3 & 5 See Note 2 (403 East Ourant Avenue) 0. Townptace 61 Lot Ct Block 91, Townstte 4 4 10/15/90 0 Lot 3 & 5 See Note 2 (409 East Ourant Avenue) E. Chase 61 Lots D through ], Stock 91, 2 2 10/15/90 0 Lot 3 & S See Note 2 Townstte (415 East Durant Avenue) F. Peas 5 Lot Et Block 91, ToNnstte 2 2 04/15/85 0 Lot 3 & 5 See Note (602 South Mitt Street) G. MeLville #2 5 Lots 17 & 18t Brock 2, Dean's 1 I 04/15/85 0 Lot 3 & 5 See Note 3 Addition (680 s. Milt Street) s. Black 3 Lots 3, 4 & St Capitol Hi[[ 2 -- 2 Lot 3 & 5 See Note 2 Addition (918 S. Milt Street) I. Summit Place 2 2 -- 2 Lot 2 See Note 2 J. Prey{Dusty Demolished: 700 Galena 4 Lets 16 & 17, Anthony Acres 3 3 Reconstructed 0 Lot 3 & 5 See Note 3 (?00 South Galena Street) as 4-plax with 4 GM~S units Snowchase 3 Lots 16 & 17, Capital Nfll Addn. I 1 06/81 0 Lot 3 or 5 See Note 3 $. Lot Alt Capitol Ntll Addition I ~ Pre 1981 ~ Lot 3 or 5 See Note 3 ASPEN HTM IILD~BER OF UNTT$ SUBDIVISN DEMOL- DATE REMAIN- UNITS TO BE EXPIRATION OF pROJECT LOT HO, LEGAL / ~PRESS TOTal I$flEP DEHO'd Iq8 RECONSTRUCTEP RECOgSTRUCT]ON Lodge k. glue Spruce Lo~Jge, North I Lotm A through D, BLock ~ing Tomslte (303 East Durant Ave.) B. Aspen I~ I Lot 6, Bt~k I~ Co~orl Addition 65 65 O&/lO/a5 0 Lot I See gate Lots 1-~, Deanna Addn & Late 1-6, (611 SaSh HILL Street) C. ContentlaL 5 Late L-S, Bilk 91, To--Itc & 178 19 -- 159 Lot 1 & 5 See Note 2 Late 1-3, BL~k 1, Rnth~y Acres A~n (515 East Bean Street) O. Prevl~sty B~ Spruce L~ge, South I Late t-5, BLock 2, Co--rs A~. 1~ ~ 07103/857 ~ Lot 1 Sea Hate 2 UJng (~O0 East Le~ Street) 2~ i16 159 NOTgS: Lot 6 ts the proposed Lot for the park to be aubdlvided fro~ Lot 5. Purauent to #unlclpaL Code Section 24-11.2(a)o the ouner has the right foIIoulng their demo[Itiono to reconstruct uJthin the Aspen Nountain PUD, the verified total ulthln five (5) years of the date of demolition. The ouner shall have a one-year period for reconstruction of the tB prevlouaty demollahecl realclentlat units, commencing on the date of demolition permit for demolition of Grand Aspen KoteL on Lot 5. ctc/dm.gched9