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HomeMy WebLinkAboutcoa.lu.ec.1335 Riverside Dr-Beyer Condo.020A-85Beyers Condominiumization O;; koA 1 E C ADDRESS GENERAL r: OF JOB / r CONSTRUCTION i PERMIT Li well rl iIGNED AND VALIL'AIEU UY 11ILDI116 1111PECTION UEPARTMLNT THIS PERMIT AUNIORIZES TIfE DESCRIIIfU BELOW. _=---- _WVRK II ! CLASS_OF WORK: NEW �`�—ADDITION ALTERATION ❑ REPAIR fMOVE ❑ WRECK O W N E R --=--rvnnnE ADDRESS 0%A-st- PHONEOf LICENSE LICENSE p NAME (AS LICENSE DI J CLASS NUMBER Q INSUffA cic ADDRESS z PHONE ❑ O SUPERVISOR V _ FOR THIS JOB NAME DATE CERTIFI LEGAL rSBESCRIPTION LOT NO. BLOCK NO. ADDITIONURVEY ATTACHED❑ DESIGN Y BY A LIC. v AkEA (' F., r C� NEIGNT NO. TOTAL 0"� PE No. AT.I;RAOE l �.� (FEET) STORIES UNITS ` OCCUPANCY GROUP DIV, BASEMENT f'r' n GARAGE SINGLE ❑ ATTACHED ❑ TOTAL 2 �' Ut`FI'1_❑ DOUBLE ❑ DETACHED ❑ ROO ?.Z� TYPE ` FIRE CONSTR. V DEI'TIi SIZE SPACING SPAN nfiow „{�s/� JI FIRST / Z C,IIADL v 1 FLOOR Z x /O -------- �' v ZON� ---=-- AGENCY DAT( p---- If R11Yt r11111 BUILDINGf.X REVIEW� <--------�^-- fr,oT!NC.. , f I Ln CfILLNG '.iZf. ----- ------ J O X d �� I;N 'VALE Gr CONC. —— `-- r ZONING �J RGJF p IIIIL M.I1(SS MA$'V y,! LL — —. PARKING- I _ IMCK r- CAISSOt1S ROGFING _ ^ ---- >l AB -�-- C(.V BEAMS MATERIAL r PUBLIC HEALTH _ I T. ` —�_-- MASONRY Af)OVE ABOVE ABOVE EXTERIOR T"'CI r ES' IST FLk. 2ND FLR. 3Rp FLR.- ENGINEERING nl. � T, WALL I STUD SIZE �'�uABOVE ABOVE ACOVEf 6 SPACE` 1ST FLR. 2ND FLR. 3RD FLR. REMARKS• ' NOTES TO APPLICANT: FOR INSPECTIONS OR INFORMATION CALL 925- 7336 FOR ALL `::ORK DONE UNDER THIS PERMIT THE PERMITTEE ACCEPTS FULL RESPONSIBILITY FOR COMPLIANCE WITH TN, --�-_- VALUATION UNIFORh+ BUILCODE, THE COUNTY ZONING RESOLUTION OR CITY ZONING ORDINANCE, AND ALL OTHER COUNTY RESOLUTIONS OR IDING $ CITY ORDINANCES WHICHEVER OF WORK APPLIE i. SEPARATE PERMITS MUST BE OBTAINED FOR ELECTRICAL, PLUMBING AND HEATING, SIGNS, SY: I;dMING POOLS AND fENCES. PLAN TOTAL- FEE PERMIT. L:\PII:fS 6U DAYS FROM DATE ISSUED UNLESS WORK IS STARTED. FILED T P '� REQUIRED INSPECTIONS SHALL BE REQUESTED ONE WORKING DAY IN ADVANCE. J DOUBLE CHECK FEO'er ALL FINAL INSPECTIONS SHALL BE MADE ON ALL ITEMS OF WORK BEFORE OCCUPANCY IS PERMITTED. FEE U CASH ❑ $ TrIIS BUILDING SHALL NOT BF. OCCUPIED UNTIL A CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED. ❑ PERMIT SUBJECT T REVOCATION OR SUSPENSIO OR VIOLATION OF ANY LAWS GOVERNING SAME. BUILDING DEPARTMENT SIGNATURE O F APPLICANT: — APPROVAL BY DATE TH!S FORM IS A PERMIT ONLY J DATE PERMIT NO. LICENSE RECEIPTS CLASS AMOUNT V,'HEN VALIDATED HERE 9/9/55 529 c Pr id 12.00 4P 1 • Aspen/Pitt 130 s aspen, Mr. Terry Haynes P.O. Box 1303 Aspen, CO 81612 Dear Mr. Haynes, Planning Office a1en treet it o� �81611 June 27, 1985 The Planning Office needs the following information in order to process the Byers Subdivision Exception -- Condominiumization of 1335 Riverside Drive: o Rental history of the Haynes unit (prices for at least the past two years) o Plat of the property showing the configuration of the condominium units o Copy of the title to the property Pleae send four copies of each as soon as possible, as the application cannot be processed until we receive this submission information. I tried to contact you by telephone yesterday and today without suc- cess. If there is another number where you or your representative can be reached, please give it to us. Apparently Jim Mollica and Asso- ciates is not representing you, as he was not aware of your request. Sincerely, ASPEN/PITKIN PLANNING OFFICE 1 -y ti Steve Burstein Planner ti 0 s • MEMORANDUM TO: Paul Taddune, City Attorney Jay Hammond, City Engineer Jim Adamski, Housing Director FROM: Steve Burstein, Planning Office RE: Beyer Condominiumization City Case No. 020A-85 DATE: July 30, 1985 JUL 3 1 Prf%, Attached for your review is an application submitted by Terry Haynes and Ria Byers requesting subdivision exemption approval for the purpose of condominiumizing the Ria Beyer House (a duplex) located at 1335 Riverside Drive. The house consists of approximately 1800 s.f. with an attached but separate 360 square foot apartment. Please review this material and return your referral comments to the Planning Office no later than August 19, 1985, in order for this office to have adequate time to prepare for its presentation before the City P&Z on September 3rd. Thank you. Im r�] • MEMORANDUM TO: Paul Taddune, City Attorney Jay Hammond, City Engineer Jim Adamski, Housing Director FROM: Steve Burstein, Planning Office RE: Beyer Condominiumization .City Case No. 020A-85 DATE: July 30, 1985 Attached for your review is an application submitted by Terry Haynes and Ria Byers requesting subdivision exemption approval for the purpose of condominiumizing the Ria Beyer House (a duplex) located at 1335 Riverside Drive. The house consists of approximately 1800 s.f. with an attached but separate 360 square foot apartment. Please review this material and return your referral comments to the Planning Office no later than August 19, 1985, in order for this office to have adequate time to prepare for its presentation before the City P&Z on September 3rd. Thank you. • L7 'Cil�.tiJlA Yg�., ta� �Sl � �aia z��LAy, T,,�A4 "- .`i (-, T ke) F,tf. �..c •r �. I. ,. If 1,, �c 155. eq c� T 91. 2? 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SE !/V. 87. o RENDRANDU R TO: Aspen City Council THM: Hal Schilling, City Manager: �= FROM: Steve Burstein, Planning Office IT'-" RE: Beyers Condominiumization DATE: September 30, 1985 SUMMARY: The Planning Office and Planning Commission recommend approval of this request for condominiumization of a duplex subject to the four conditions listed below. LOCATION: 1335 Riverside Drive, Lot 22, Block 1, Riverside Addition. ZONING: R-15 BACKGROUND: The applicant requests condominiumization of a duplex located at 1335 Riverside Drive, creating two separate units. The main house contains approximately 1800 s.f. and the apartment has approximately 360 s.f. on a parcel of land approximately 14,650 s.f. in area. The present tenant of the apartment, Terry Haynes, initiated this request for the purpose of being able to buy the unit he lives in. The owner, Ria Beyers, is interested in selling the smaller unit to Mr. Haynes and intends to also sell the main house where she presently lives. The house was built in 1961, and the apartment was added on in 1965, prior to certain current zoning requirements. APPLICABLE SECTIONS OF THE MUNICIPAL CODE: Condom iniumization of a duplex is a subdivision exception pursuant to Section 20-19 (c) and must substantially comply with the design and platting requirements of Sections 20-17 and 20-15. The requirements of condominiumization most pertinent to this case are stated in Section 20-22: (a) Existing tenants shall be given written notice when their unit is offered for sale, which notice shall specify the sale price. Each tenant shall have a ninety -day nonassign- able option to purchase their unit at this preliminary market value. In addition, each tenant shall have a ninety -day exclusive nonassignable right of first refusal to purchase their unit which shall commence when a bona fide offer is made by a third person, and accepted by the owner. In the event that such offer is made while the ninety -day option is still in effect, the tenant may purchase the unit for the amount of the initial sales price or the amount of the bona fide offer, whichever is less. (b) All units shall be restricted to six (6) month minimum leases with no more than two (2) shorter tenancies per year; and (c) The applicant shall demonstrate that approval will not reduce the supply of low and moderate income housing. Such demonstration shall be made at the time of initial consider- ation by the Planning and Zoning Commission for purposes of their recommendation to the City Council " PROBLEM! DISCUSSION A. Referral Comments: 1. Engineering Department: In discussions held on August 8, 9 and 12, Elyse Elliot of the Engineering Department expressed the following concerns: a. The condominiumization plat must conform to the requirements of Section 20-15 of the Municipal Code. The applicant should have a licensed surveyor and consult the Engineering Department for details. b. The Plat must show, in particular, the areas of general common ownership (GCE) and the areas assigned to unit ownership. All easements on the property should be indicated on the Plat. C. Information should be provided on the access easement west of the Beyers property to insure there is no conflicting use from Beyers' driveway. 2. Housing Authority: In a memorandum dated August 18, 1985, Jim Adamski stated that the Housing Authority determined that based on evidence that the Beyers house and apartment have not historically rented within the current guidelines for employee housing, therefore, neither unit is subject to employee housing deed -restrictions. B. Planning Office Comments: It appears that the requirements of Section 20-22 would be met by this condominiumization as: 1. The tenant will be offered the unit in which he presently lives; 2. the applicant is willing to restrict the units to six month minimum leases; and 2 3. The apartment unit is not considered to be an employee unit at the present time. The last point has been the subject of interpreting the current situation wherein no rent has been paid by the tenant f or a period of five years as an act of friendship and exchange for caretaking services. It was the opinion of the Housing Authority that the apartment unit need not be subject to employee housing price guidelines. The Planning Office concurs with this opinion because it appears that the duplex unit has not been literally a part of the low income housing supply. The fact that there has been no payment of rent as an act of friendship between these two parties should not be considered a low rent situation with regard to our employee housing guidelines. There is a concern that the circular driveway of 1335 Riverside Drive appears to exit through the adjoining property to the west. This situation should be clarified with respect to any access easements existing or needed for such useage. ADVISORY COMMITTEE VOTE: On September 3, 1985, the Planning and Zoning Commission voted unanimously to recommend approval of the Beyers Condominiumization subject to the four conditions listed below. RECOMMENDATION: The Planning Office and the Planning and Zoning Commission recommend that Council approve this condomi ni umiz ati on subject to the following conditions: 1. All units shall be restricted to six. (6) month minimum leases with no more than two (2) shorter tenancies per year. 2. The condominiumization plat shall conform to the requirements of Section 20-15 of the Municipal Code, including the specific comments made by the Engineering Department. 3. A Statement of Subdivision Exception shall be filed with the City Attorney prior to recordation of plat. 4. The applicant shall show the western segment of driveway on her property and adjoining property. If access onto the adjoining property is necessary, the applicant shall obtain an access easement prior to recordation of plat. PROPOSED MOTION: "Move for approval of the Beyers Condominiumization subject to the four conditions stated in the Planning Office memoran- dum to Council dated September 30, 1985." SB.11 3 • w June 3, 1985 City of Aspen Planning and Zoning Mr. Allen Richman 130 S. Galena Street Aspen, Colorado 81611 Dear Sirs: I am writing this letterin regards to my meeting with Mr. Allen Richman on May 22nd, 1985. It is regarding condominiumization of the Ria Beyer House at 1335 Riverside Drive, Aspen, into two units. The house is approximately 1800 square feet, which includes an attached, but separate 360 square foot apartment. I have lived in the apartment for five years, and would like to purchase it from Mrs. Beyer. The house sits on more than one third acre (1/3) in the River- side subdivision on Lot #22. It is set up perfectly for a duplex, as the apartment is at one end of the house, with a separate entrance and parking. This situation is favorable by Mrs. Beyer, who owns the home outright. Wolf J. and Ria Beyer bought the home in August, 1965. Mr. Beyer passed away in 1974, and Mrs. Beyer has occupied the house since. She now has no need for the entire house and would like to sell me the apartment at a very reasonable price. She also is favorable to the sale of the other unit to a friend of mine at a reasonable price, if she would like it. Mrs. Beyer would like to relocate closer to downtown, if she were to sell both units. As well as the house being in two units, the property could easily be designated in two areas as well as common area. I have managed Breeze Ski Rentals in Aspen for 5 years and plan to stay with the company. I have looked at Employee Housing in Aspen, but due to owning a dog, cannot purchase an employee unit. Being able to purchase Mrs. Beyer's apartment would put my housing problems in Aspen to an end, as well as becoming a homeowner. I feel this proposal will have no impact on the neighborhood or housing situation in Aspen as number of units will remain M of City of Aspen Planning and Zoning Department page two the same, as well as people. Both units would house employees. I feel this proposal would benefit all involved, and would allow me to become a permanent resident and homeowner of Pitkin County. Sincerely, Terry C. Haynes and Mrs. Ria Beyer 0 - lC� - g 5 cf TL, c� 25 -�� G1 TO: STEVE BURSTEIN, PLANNING OFFICE FROM: J. LUCAS ADAMSKI, HOUSING DIRECTOR DATE: AUGUST 18, 1985 RE: BEYER CONDOMINIumiZATION RECOMMENDATION: The Housing Authority's question was whether the apartment attached to the Beyer house had been used as a rental unit in the past. The attached letter negates that assumption. The Housing Authority therefore approves the Beyer condominiui- zation and requires no employee housing. 1 • • .I , z -o/-, Si . Recorded at ` n 'I o'n Recepdon No -- _ 3 800 PAGET LORETTA A B NNER PITKIN COUNTY RECORDER CONDOMINIUM DUPLEX DECLARATION FOR THE BEYER DUPLEX 1335 RIVERSIDE DRIVE ASPEN, COLORADO 81611 Ria Marie Beyer, hereinafter called the Declarant, is the owner of the following described real property situated in the City of Aspen, Pitkin County, State of Colorado: Lot 22, Block 1 Riverside Subdivision 1. Declarant has subdivided a duplex on the above -described property, which shall consist of two separately owned units. Each unit (A) and (B) are located on its own designated property as described on the Beyer Duplex Plat, dated May 1986. The limited common area such as the driveway and island area that the driveway surrounds are the only commonly owned areas. 2. Use of Units; General and Limited Common Elements. Each owner shall be entitled to exclusive ownership and pos- session of his unit and property. Each owner may use the Limited Common Elements in accordance with the purpose for which they are intended, without hindering or encroaching upon the lawful rights of the other owner. 3. Use and Occupancy. Each unit shall be used and oc- cupied solely for residential purposes, and except as provided in this paragraph, no trade or business of any kind may be carried on therein. Lease or rental of a unit for lodging or residential purposes shall not be considered to be a violation of this covenant. 4. Each unit is owned separately and each owner is respon- sible for repair, maintenance and upkeep on his unit. Each owner is responsible for keeping its outside area clean and in sanitary condition. No unsightly garbage, rubbish piles, or trash will be allowed. 5. The limited common area (driveway and island inside driveway)must be kept in good condition by both owners and cannot be used for personal storage. Any driveway maintenance must be shared on a 50/50 basis by both owners. 6. Each unit is allowed three parking spaces, as designat- ed on the Beyer Duplex Plat Plan. No more than three cars per unit will be allowed, with the exception of temporary guests, to park at each unit. -1- 0 • � SCOK l P�iGE 7. Each unit is responsible on a 50/50 basis for driveway snow removal. This is to be agreed upon by both owners as to method and type of snow removal, and each owner is responsible for 50% of the cost. 8. Building additions of any kind must conform to City code, and may not infringe on either owner's rights. Any addi- tion must be painted Rosett Brown with white trim to conform to existing building color. Any change in building color must be agreed upon by both owners. 9. Each owner is required to maintain current and adequate insurance on his unit and property. This includes fire, theft, and liability insurance. 10. Common Utilities. Common water, sewer and trash removal will be shared and paid as follows: A. Unit A will be responsible for 2/3 of each bill. B. Unit B will be responsible for 1/3 of each bill. These percentages have been determined by square footage and number of bathrooms per unit. 11. Unit A is allowed two (2) trash cans per week; Unit B is allowed one (1) trash can per week. Presently, if trash cans exceed this number, that particular unit is responsible for additional cost per can. One storage per unit is provided. 12. Outside water faucet and hose are to be shared by both units. 13. Any of the Declarations or restrictions listed in this Declaration can be amended only with the approval of owners of both Units A and B. Failure by either unit or owner to comply with any of the bylaws in this Declaration will be subject to legal action. The provisions of this Declaration shall be in addition and supplemental to the Condominium Ownership Act of the State of Colorado and to all other provisions of law. IN WITNESS WHEREOF, Declarant has duly executed this Decla- ration this o;F0 day of June, 1986. Ria Marie Beyer IWIC 1 0 0 STATE OF COLORADO ) BOOK 9K6 PA(jE3ffi ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of June, 1986 by Ria Marie Beyer. Witness my hand and official seal. My commission expires: 8-z/-e '7 z t ry Public Address: ,jDo r-" iC��a>1/ A06-44/1� -3- c� • uC��S 516 F .GE • a � DECLARATION OF COVENANTS, RESTRICTIONS ANV- �M � CONDITIONS FOR THE I3EYER CONDOMINIUM CJ �D' Q rev m a +� c� z -v oz C v co m C'• RIA MARIE BEYER, .("CovenanLc x ":)D, for themselves, their heirs, executors, administrators and assign;;, in consideration of the granting of an exception from the full subdivison process for the purpose of condominiumization of the following -described property, hereby covenant with the City of Aspen, Pitkin County, Colorado, to restrict such property, an:i hereby do restrict such property, as follows: I. Covenantors are the owners of the following described property (the "Property") together with the improvements thereon situated in the City of Aspen, County of Pitkin, State of Colorado: Lot 22, Block 1 Riverside Subdivision The Bever Condominium City of Aspen, Pitkin County, Colorado, as shown on the Condominium Map therefor recorded in Plat Book at. page , and subject to the terms, conditions and obligations of the Condominium Declaration therefore recorded in Book at page also described as 1.335 Riverside Dr;, Aspen, Colorado. 2. The existing dwelling units ' . comprise The -Beyer Condominium, when the same are offered fur rental, shall be and are hereby restricted to six (6) month minimum leases with no more than two (2) shorter tenancies per calendar year, all as defined in the Aspen Municipal Code, as amended; and, further, when both units are offered for sale, they shall be and are hereby subject to the requirements of Sections 20- 22(a), Aspen Municipal Code, as amended. 3. In the event that any municipal improvement or improve- ments of a kind contemplated in Section 20-16 of the Municipal Code of the City of Aspen, as amended, become, in the sole judgment or discretion of the City Council of the City of Aspen, necessary or desirable to the area of The Bever Condominium, Covenantors will make no objection to any special assessment or special tax or pro- ceeding therefor on the basis that the Property is adequately � 16 ..� served by existing improvements and/or on the basis that the prem- ises will not be served or benefited by the improvement or improve- ments proposed. Covenantors further agree to join, upon the City's demand therefor, any improvement district formed for construction Of such improvements (including, without limitation, drainage, underground utilities, paving, curbs, gutters, sidewalks, street lights, etc.) in the area of The Beyer Condominium or to reimburse the City of Aspen directly upon demand therefor if the City should Choose to construct these improvements wihout the formation of such a district_. 4. The covenants herein may be changed, modified or amended by the recording of a written instrument signed by the record owners of the Property and the Mayor of the City of Aspenipursuant to a vote taken by the City Council. 5. The covenants herein contained shall run with the land and shall be binding upon all parties having any right, title or inter- est in the Property or any part thereof, and their heirs, represen- tatives, successors and assigns, for the period of the life of the longest -lived member of the presently -constituted Aspen City Coun- cil plus twenty-one (21) years, or for a period of fifty (50) years from the date these covenants are recorded, whichever is less. 6. None of the covenants contained herein shall be releasod or waived in any respect during the period they are binding without the prior consent of the City of Aspen reflected by resolution of the City Council of the City of Aspen. 7. In any legal proceeding to enforce the provisions of these covenants, restrictions and conditions, the prevailing party shall be entitled to recover its costs and fees therein, including its reasonable attorneys fees and expert witness fees. IN WITNESS WHEPEOF, this Declaration has been duly-xecuted ttris e,-10 day of _�76,/U< IgR6. Ria Marie Beyer 1 -2- 0 0 eoox 516 PAGE356 STATE OF COLORADO ) ss. COUNTY OF PITKIN } The foregoing instrument was acknowledged before me this oO day of June, 1986 by Ria Marie Beyer, as Covenator of the Beyer Condominium. Witness my hand and official seal. My commission expires: 80--1;/-87 Notary Pub 1 i Address: -3- VZ BOCK 51_ 6 PAGE 360 STATEMENT OF EXCEPTION FROM THE FULL SUBDIVISION PROCESS FOR THE PURPOSE OF CONDOMINIUMIZATION FOR THE COURT CONDOMINIUMS WHEREAS, RIA MARIE, BEYER.. (hereinafter "Applicants") are owners of a parcel of real property in the City of Aspen, Pitkin County, Colorado, described as follows: Lot 22, Block 1. Riverside Subdivision, WHEREAS, the foregoing described real property contains a duplex with two existing units; and WHEREAS, Applicants have requested an exception from the full subdivision process for the purpose of condontiniumizing the existing dwellings; and WHEREAS, the Aspen Planning and Zoning Commission at its meeting held Sept. 3, 1985 determined that such exception would be appropriate and'recummenaed that the same be granted subject, how- ever, to certain conditions; and WHEREAS, the City Council determined at its regular meet- ing heldSept. 3 1.985,:-that such exception was appropriate and granted the 'same subject, however, to certain conditions as set forth below: NOW, THEREFORE, the City Council of Aspen, Colorado, does hereby determine that the application for exception from the'full subdivision process for the purpose of condominiumization of,the above described property is proper and hereby grants an exception from the full subdivision process for such condominiumization, PROVIDED, HOWEVER, that the foregoing exception is expressly conditioned upon (1) the Applicant's recording with the Pitkin County Clerk and Recorder, contemporaneously herewith, that certain "Declaration of Covenants, Restrictions, and Conditions for The Beyer Condominium, dated , 1986, and (2) the Appli- cant's strict compliance with the provisions contained therein and all other binding conditions of approval on this matter set by the Planning and Zoning Commission and/or the City Council, for itself, its successors and assigns. DATED this � day of 1.986. William L. Stirling, Mayor APPROVED A.S TO FORA: c Paul J. a dune, City Attorney "; CD w !' O C) ry rn r- T Z r CC, -" m C10 m Cr) :�u • 0 Book 516 PAGE361 I, KATHRYN S. KOCII, do hereby certify that the foregoing Statement of Exception from the full Subdivision Process for the Purposes of Condominiumization was considered and approved by the Asper, City Council at its regular meeting held Sept. 3, 1985 at which time the Mayor was authorized to execute t-he same on -behalf of the City of Aspen. KATHRYN S. KOCF, City Clerk 16, 0 • • ME MORANDU M TO: Aspen Planning and Zoning Commission FROM: Steve Burstein, Planning Office RE: Beyers Condominiumization DATE: September 3, 1985 LOCATION: 1335 Riverside Drive, Lot 22, Block 1, Riverside Addition. ZONING: R-15 APPLICANT'S REQUEST: The applicant requests condominiumization of a duplex located at 1335 Riverside Drive, creating two separate units. The main house contains approximately 1800 sq. ft. and the apartment has approximately 360 sq. ft. on a parcel of land approximately 14,650 sq. ft. in area. BACKGROUND: The present tenant of the apartment, Terry Haynes, initiated this request for the purpose of being able to buy the unit he lives in. The owner, Ria Beyers, is interested in selling the smaller unit to Mr. Haynes and intends to also sell the main house where she presently lives. The house was built in 1961, and the apartment was added on in 1965, prior to certain current zoning requirements. 1. Engineering Department: In discussions held on August 8, 9 and 12, Elyse Elliot of the Engineering Department expressed the following concerns: a. The condominiumization plat must conform to the requirements of Section 20-15 of the Municipal Code. b. The Plat must show, in particular, the areas of general common ownership (GCE) and the areas assigned to unit ownership. All easements on the property should be indi- cated on the Plat. C. Information should be provided on the access easement west of the Beyers property to insure there is no conflict in use from Beyer's driveway. 2. Housing Authority: In a memorandum dated August 18, 1985, Jim Adamski stated that the Housing Authority determined that based on evidence that the Beyer house and apartment have not histor- ically rented within the current guidelines for employee housing, therefore, neither unit is subject to employee housing deed - restrictions. APPLICABLE SECTIONS OF MUNICIPAL CODE: Condominiumization of a duplex is a subdivision exception pursuant to Section 20-19(c) and must substantially comply with the design and platting requirements of Sections 20-17 and 20-15. The requirements of condominiumization most pertinent to this case are stated in Section 20-22: "(a) Existing tenants shall be given written_ notice when their unit is offered for sale, which notice shall specify the sale price. Each tenant shall have a ninety -day nonassign- able option to purchase their unit at this preliminary market value. In addition, each tenant shall have a ninety - day exclusive nonassignable right of first refusal to purchase their unit which shall commence when a bona fide offer is made by a third person, and accepted by the owner. E • In the event that such offer is made while the ninety -day option is still in effect, the tenant may purchase the unit for the amount of the initial sales price or the amount of the bona fide offer, whichever is less. (b) All units shall be restricted to six (6) month minimum leases with no more than two (2) shorter tenancies per year; and (c) The applicant shall demonstrate that approval will not reduce the supply of low and moderate income housing. Such demonstration shall be made at the time of initial consider- ation by the planning and zoning commission for purposes of their recommendation to the City Council. Evidence relating to the following criteria shall be considered at this determination: (1) Evidence that illustrates there will be minimal tenant displacement as a result of the conversion. (2) Evidence that illustrates that tenants have not been required to move involuntarily within the preceding eighteen (18) months prior to application, except in cases of lawful displacement. (3) Evidence that the condominium units will be affordable by persons of low or moderate income. (4) Evidence that the rental price of the condominium units will not be substantially increased after condominiumi- zation. (5) Evidence that tenants who do not wish to exercise their option or right of first refusal shall be provided with at least one hundred eighty (180) days after final council approval or when their unit is sold to a third person, whichever date is later, in which to relocate. (6) Evidence that the prospective purchaser is an employer or a group of employers who intends to rent the unit (s) to its employees. STAFF COMMENTS: It appears that the requirements of Section 20-22 would be met by this condominiumization as: (1) The tenant will be offered the unit in which he presently lives, (2) The applicant is willing to restrict the units to six month minimum leases, and (3) The apartment unit is not considered to be an employee unit at the present time. The last point has been the subject of interpreting the current situation wherein no rent has been paid by the tenant for a period of five years as an act of friendship and exchange for caretaking services. It was the opinion of the Housing Authority that the apartment unit need not be subject to employee housing price guide- lines. The Planning Office concurs with this opinion because it appears that the duplex unit has not been literally a part of the low income housing supply. No payments of rent as an act of friendship should not be considered low rent. Thee is a concern that the circular driveway of 1335 Riverside Drive appears to exit through the adjoining property to the west. This situation should be clarified with respect to any access easements existing or needed for such useage. RECOMMENDATION: The Planning Office recommends that the Commission 4 • 0 recommend approval of this condominiumization subject to the following conditions: 1. All units shall be restricted to six (6) month minimum leases with no more than two (2) shorter tenancies per year. 2. The condominiumization plat shall conform to the requirements of Section 20-15 of the Municipal Code, including the specific comments made by the Engineering Department. 3. A Statement of Subdivision Exception shall be filed with the City Attorney prior to recordation of plat. 4. The applicant shall show the western segment of driveway on her property and adjoining property. If access onto the adjoining property is necessary, the applicant shall obtain an access easement prior to recordation of plat. SR.3 9 CITY OF'ASPE*N LAND USE APPLICATION FORM 130 south alena street aspen, co rado 81611 303-' 5-2020 DATE SUBMITTED FEES NAME _ /�i�17� C - %�/�/I[1�5 100, ADDRESS PHONE NAME OF PROJECT PRESENT ZONING LOT SIZE e�2`(IIj�:r ZZIAPe) l LOCATION (indicate street address, lot and block number. May require legal description. A vicinity map is very useful.) CURRENT BUILD -OUT _ I/X0 G) sq. ft. units PROPOSED BUILD -OUT sq. ft. units DESCRIPTION OF EXISTING USES DESCRIPTION OF LAND USE PROPOSAL TYPE OF APPLICATION APPLICABLE CODE SECTION (S) PLAT AMENDMENT REQUIRED DATE PRE -APPLICATION CONFERENCE COMPLETED YES NO ATTACHMENTS: 1. All applicants must supply Proof of Ownership in the form of a title insurance commitmr -. or statement from an attorney indicating that he/she has researcl 1 the title and verifies that the applicant is the owner of the prof -ty (free of liens and eucumbrances.) 2. If the process requires public hearing, a Property Owner's List must be supplied which j es all owners within 300 feet in all directions in some cases and adjacent owners in some cases. 3. Number of copies required (by code and/or in pre -application conference.) 4. Plat by Registered Surveyor Yes No Recorded at ..... 2. .......o'clock...... P...M........... Augu s t...31.....1. ................... BOOK SAG Reception No ..... 21668 Peggy E,...CObl .e ..........................Recorder. 65 RECORDER'S STAMP THIS DEED, Made this 31 s t day of August,, 19 65 , between a/k/as Earl Kelly EARL J. KELLY/and PATRICIA J. KELLY, a/k/as Patricia Jean Kelly nee Patricia Jean Lumsden of the County of Pitkin and State of Colorado, of the first part, and WOLF J. BEYER and RIA MARIE BEYER of the County of Pitkin and State of Colorado, of the second part: WITNESSETH, that the said part of the first part, for and in consideration of the sum of TEN($10.00)------------------------------------------------ DOLLARS, to the said parties of the first part in hand paid by the said parties of the second part, the receipt whereof is hereby confessed and acknowledged, have granted, bargained, sold and conveyed, and by these presents do grant, bargain, sell, convey and confirm unto the said parties of the second part, their heirs and assigns forever, not in tenancy in common but in joint tenancy, all the following described lot or parcel of land, situate, lying and being in the County of Pitkin and State of Colorado, to -wit: bract No. 1, described as follows: All of Lot No. 22 (twenty-two) in Block l of the Riverside Subdivision according to the plat on file as document No. 10221 Ditch Book 2-A, page:179, Clerk and Recorder's Office for Pitkin County, Colorad Except that portion thereof yhrh is to be conveyed as a public road, and more fully described as follows: A strip twenty (20) feet wide along the entire North boundary of Lot No. 22', and a strip thirty feet wide (30) along the entire West boundary of Lot No. 22. Lot No. 22 c'ontains 7888 sq. ft. more or less. Subject to all of the restrictions contained in that certain -Agreement Providing for Restrictions for the Riverside Subdivision, recorded as document No. 102222, Book 180, page 351, and subject to that certain Declaration recorded as document No. 104938, Book 179, page 586, in the Clerk and Recorder's office f Pitkin County, Colorado. Tract No. 2, described on reverside side: TOGETHER with all and singular the hereditaments and appurtenances thereunto belonging, or in anywise appertaining, the reversion and reversions, remainder and remainders, rents, issues and profits thereof; and all the estate, right, title, interest, claim and demand whatsoever of the said parties of the first part, either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances. TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the said parties of the second part, their heirs and assigns forever. And the said part ies of the first part, for them sel ves , theiXheirs, executors, and administrators do covenant, grant, bargain and agree to and with the said parties of the second part, their heirs and assigns, that at the time of the enscaling and delivery of these presents they are well seized of the premises above conveyed, as of good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and ha ve good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments and encumbrances of whatever kind or nature soever, except taxes for 1965 due in 1966; excepting any reservations contained on Patents from the United States; and the above bargained premises in the quiet and peaceable possession of the said parties of the second part, their heirs and assigns, against all and every person or persons lawfully claiming or to claim the whole or any part thereof, the said part of the first part shall and will WARRANT AND FOREVER DEFEND. IN WITNESS WHEREOF the said part ies of the first part hate hereunto settheirliands and seals the day and year first above written. Signed, Sealed and Delivered in the Presence of ................................................................................................ J STATE OF COLORADO, 1 County Pitkin t ss. .... ....... _ ... ......................[SEAL] [SEAL] ................................................................................................ [SEAL] The foregoing instrument was acknowledged before me this 31 s t day of August, 19 65, by* a/k/as Earl Kelly EARL J. KE Y/and PATRICIA J. KELLY, a/k/ s Pat,ri is Jean Kelly commission ex Tres netai1ae1an Lums en P f 1966. Witness my a d a o icial ea . TA .............. ...._.- - Notary Public. `'`I�C: •421: 'VK:C$12��7TY DEED —To Joint Tenants. —Bradford -Robinson Printing Company, 1824-46 Stout Street, Denver, Colorado �^ r-�'Ij kp,}�A iutdl person or persona here insert name or names ; if by person acting 1n representative or oLticial capacity or as i.at[brn�,�1i1 fact, then insert name oL person as executor, attorney -in -fact or other capacity or description; if by officer of cor- poration then Insert name oL such officer or officers as the ppresident or other officers of such corporation, naming lt.—Statutory dekr�ow�edpmmt, Sea 118-6-1 Colorado Revised Statutea 1963. —r 0w O n .0 �o �/ ry H to to cn eo C� y 0 o w to i `OQ c d O A. w ` Tract No. 2: described as follows: H O z 0 4 BOOK 215 PACE �66 11 • /1 • 1 / • t noco�ilr�vTex� u a / m Ic iT S , u N D• U N I t InyrI BNALB'6VSs'Q$� 10 sun �910 Wl1 nuia 1 _ ZW 1110.00�MIwt^NT�.11iY, 1NN;UM1'sNT.flt] ; Z � .� �' � r'� r• • � �!I c; u N 1 T ttrr U N I r ` Z me = m 11 s7s� • �rl6B SG+.rI.:.• SSA z aY�1LWL&NALB I L11Tl;IL\AL64\'6.\7i61 Z r •, C f ny' z 10 L\ TBPf • �/� • �. `s u I _ i .� c nouase iV 1 n ►�+ - 1 r �c . �c,_Q•✓, c - T :.:��_Q•.�r .. - m DOCU➢1SNTA1t1 f — � — 1ri11;1�.�16.�P!'AHY � !10(7[1MSAITASY •,J[�Jf�Td�h LI�ITltU6'f.1T63. �;���,��� �'•17tJL—:,...,L-S.'Vti.�'L'�� I\YSIL�1AL1tIL1BYLB TV••�l ppy4.6E - _ fames I M0111(h Associates, Inc. Real Estate Appraisers and Consultants AN APPRAISAL OF BEYER RESIDENCE RIVERSIDE SUBDIVISION I LOT 22 ASPEN, CO 81611 May 18, 1979 FOR: Mrs. Beyer Box 1303 Aspen, CO 81611 The valuation study and Certification which follows are expressly subject to the assumptions, contingencies and limiting conditions at- tached, together with any special limiting conditions specifically dis- cussed in the report. R M Scott M. Bowie James J. Mollica, R.M. Associate Appraiser U APP raiser -Consultant Crystal Palace Building • 300 East Hyman Avenue, Aspen, Colorado 81611 • 303/925-8987 RESIDENTIAL APPRAISAL RFPnRT Adk FilpNn Borrower Mrs. Wolf J. Beyer Census TraMw Map Reference See attached Property Address 1335 Riverside Drive • City Aspen CountyPitkin State Colorado Zip Code 81611 Legal Description Riverside Subdivision Filing I Lot 22 _ Sale Price $ N/A Date of Sale N/A Loan Term yrs Property Rights Appraised Fee -]Leasehold ❑ DeMinimis PUD l—IX Actual Real Estate Taxes $820 a rox.(yr) Loan charges to be paid by seller $ Other sales concessions Lender/Client Address Occupant Appraiser Scott Bowie R.M. Instructions to Appraiser Location Urban Suburban nRural Good Avg. Fair Poor Built Up Over 75% ❑25%to 75% El Under 25% Employment Stability ® ❑ ❑ ❑ Growth Rate ® Fully Dev. El Rapid El Steady ❑Slow Convenience to Employment ® ❑ ❑ ❑ Property Values ®Increasing ❑Stable ❑Declining Convenience to Shopping ® ❑ ❑ ❑ Demand/Supply ®Shortage ❑ In Balance ❑Over Supply Convenience to Schools ® ❑ ❑ ❑ Marketing Time ®Under 3 Mos. 04-6 Mos. ❑Over 6 Mos. Adequacy of Public Transportation ® ❑ ❑ ❑ Present Land Use 1006 1 Family _% 2-4 Family _% Apts. _% Condo _% Commercial Recreational Facilities ® ❑ ❑ ❑ • • _%Industrial_% Vacant _% Adequacy of Utilities ® ❑ ❑ ❑ • Change in Present Land Use ® Not Likely ❑Likely (') ❑Taking Place (') Property Compatibility ® ❑ ❑ ❑ • (') From To Protection from Detrimental Conditions IN ❑ ❑ ❑ • Occupancy ®Owner El Tenant %Vacant Police and Fire Protection IN El El El Single Family Price Range $ 175,000 to $ 375,000 Predominant Value $ 250,000 General Appearance of Properties IN ❑ ❑ ❑ Single Family Age 5 yrs to 20 yrs Predominant Age 10 yrs A eal to Market IN ❑ ❑ ❑ and it must not be considered in the appraisal. Note: FHLMC/FNMA do not consider the racial composition of the neighborhood to be a relevant factor Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise) The subj ect is located 4 blocks from Aspen's commercial core where schools, churches, shopping and entertainment are located. Bus service operates near the subject, servicing the City of Aspen, surrounding areas and local ski resorts. Proximity to central Aspen and the Roaring Fork River and relative seclusion make the neighborhood desirable for both permanent residents and long-term renters. Construction of a large health facilityand luxurycondo complex near the subd. has added a ea Dimensions Irregular = 14,650 Sq. Ft. oXXWiXs ❑ Corner Lot Zoning classification Single Family Residential Present improvements 1 ] do ❑ do not conform to zoning regulations Highest and best use: ® Present use ❑ Other (specify) Public Other (Describe) OFF SITE IMPROVEMENTS Topo Level Elec. ® Street Access: ® Public ❑ Private Size Typical for area Gas ® Surface Asphalt Shape Irregular Water ® Maintenance: ®Public ❑ Private View Average San.Sewer ® ❑ Storm Sewer ❑Curb/Gutter Drainage Adequate ❑ Underground Elect. & Tel. ❑ Sidewalk ❑ Street Lights Is the property located in a HUDldentified Special Flood Hazard Area? ®No ❑Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments or other adverse conditions) The subject's Site is heavily wooded with aspens and is private. The Aspen Club health facilities are a short wall. southeast and enhance the desirabilityof the neighborhood. Views from the structure are con- gidprpd nuprngp nnd nrp crPnPrn11v Y.Tpqf toward Asppn Mtn_ qki arpa- Ynrd JR Well landscaped. Existing ❑Proposed ❑Under. Constr. No. Units- Type (det, duplex, semi/det, etc.) Design (rambler, split level, etc.) Exterior Walls Yrs. Age: Actual 18Effective 12 to15 No. Stories 1 Single family Conventional ranch T-111 frame Roof Material Gutters & Downspouts ® None Window (Type): Single & double pane Insulation [_]None ❑Floor Built up TvDical ❑ Storm Sash ® Screens ❑ Combination [Ceiling [:]Roof ® Walls El Manufactured Housing N A% Basement ❑ Floor Drain Finished Ceiling • Foundation Walls ❑ Outside Entrance ❑ Sump Pump Finished Walls • Concrete block ❑Concrete Floor _% Finished Finished Floor ENSlab on Grade ®Crawl Space Evidenceof: ❑Dam ness ❑Termites El Settlement Comments Subject is of conventional ranch design. Room List Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms No. Baths Laundry Other Basement 1st Level 1+ 1 Area 1+Pull an 3+ 3 1 2nd Level Finished area above grade contains a total of 6 rooms 3 bedrooms. 3 baths. Gross Living Area 1 FiFi sq.ft. Bsmt Area sq.ft. Kitchen Equipment: ®Refrigerator ®Range/Oven LN Disposal Dishwasher Fan/Hood Compactor ® Washer Dryer K] +Pullman HEAT: Type HWBB Fuel Gas Cond. Average 74y4iCmum:®Central ❑Other ®Adequate ❑Inadequate Floors Hardwood IMCarpetOver Ply LX Linoleum Good Avg. Fair Poor Walls 1UDrywall ❑Plaster ❑ Quality of Construction (Materials & Finish) ❑ ® ❑ ❑ • Trim/Finish El Good [Average ❑ Fair ❑ Poor Condition of Improvements ❑ [2 ❑ ❑ Bath Floor ®Ceramic [N Linoleum Rooms size and layout ❑ ® ❑ ❑ Bath Wainscot ®Ceramic ❑ Tub recess Closets and Storage ❑ ® ❑ ❑ Special Features (including energy efficient items) Brick fireplace; Insulation -adequacy El ® ❑ El Plumbing ❑ ® ❑ ❑ slightly vaulted living room -kitchen ceilings - -adequacy and condition Electrical -adequacy and condition ❑ ® ❑ ❑ • • Kitchen Cabinets -adequacy and condition ❑ ® ❑ ❑ Compatibility Neighborhood ❑ 5d ❑ ❑ • ATTIC: ®Yes ❑No ❑Stairway ❑Drop -stair ❑Scuttle ❑ Floored Finished (Describe) Unfinished ❑ Heated to Overall Livability ❑ ® ❑ ❑ CAR STORAGE: ❑Garage ❑Built-in ❑Attached Detached ❑ ®Car Port Appeal and Marketability ❑ ® ❑ ❑ No. Cars_®Adequate ❑ Inadequate Condition Average Yrs Est Remaining Economic Life-32-to--35.Exp lain if less then Loan Term FIREPLACES, PATIOS, POOL, FENCES, etc. (describe) Deck off rear of structure 19' x 12' 'story e shed 16' x 3' COMMENTS (including functional or physical inadequacies, repairs needed, modernization, etc.) Quality of construction and materials 1960'R construction in the neighborhood and is considered average. Both interior Interiornnd exterior appear to have bppn well maintained, shows minor signs of wear tn FHLMC Form 70 Rev. 10/78 ATTACH DESCRIPTIVE PHOTOGRAPHS OF SUBJECT PROPERTY AND STREET SCENE FNMA Form 1004 Rev. 10/78 VALUATION SECTION AIIIIIIII, Purpose of Appraisal is to estimate Market Value as Wed in Certification & Statement of Limiting Condi (FHLMC Form 439/FNMA Form 1004B). If submitted for FNMA, the appraiser must attach (1) sketch or map showing location of subject, street names, distance from nearest intersection, and any detrimental conditions and (2) exterior building sketch of improvements showing dimensions. Measurements No. Stories Sq. Ft. ESTIMATED REPRODUCTION COST - NEW - OF IMPROVEMENTS: 41.5 x 36 x 1 - 1494 Dwelling 1663 Sq. Ft. @ $ 50 $ 83,150 13 x 14 less ]x 1 = f 182 ] Sq. Ft. @ $ _ 18 x 19.5 x 1 = 351 Extras = x x = x x = Special Energy Efficient Items = • x x - Porches, Patios, etc. +storage 276SF @ $7 = 1,932 Total Gross Living Area (List in Market Data Analysis below) 1663 Garage/Car Port 182 Sq. Ft. @ $ 10 = 1,820 Comment on functional and economic obsolescence: Qual i y of Site Improvements (driveway, landscaping, etc.) = 5,000 finish work and some interior design details Total Estimated Cost New . . . . . . . . = $ 91 902 are growing outdated in style but are not Less 13% Physical Functional Economic considered obsolescent in this price category Depreciation $_ 11,947I$ -0- $ -0- = $ ( 11,947 ) Layout appears functional. Guest apartment Depreciated value of improvements . . . . . . = $ 79.955 may have special appeal for some buyers but is ESTIMATED LAND VALUE . . . . = $ 150,000 not a legal rental unit. (If leasehold, show only leasehold value) INDICATED VALUE BY COST APPROACH . . . $ 229 955 The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The descrip- tion includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-1 adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indica- ted value of the subject. Beyer Hamrick Gruptpr Behrhnrqf ITEM Subject Property COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address Riverside I Riverside I Lot 21 East Aspen Blk. 52 Mt. Valley III Lot 85 Proximity to Sub'. Next door 1 mil 2 mile Sales Price $ N A 165,000 !$ 225,000 250,00 Price/Living area $ ', $ 12 $ 182 0 $1210 Data Source Inspection Broker ( aent (stm.nt _ Date of Sale and DESCRIPTION DESCRIPTION Atl+j l-S DESCRIPTION Atli DESCRIPTION Atl)ust)ment i Time Adjustment Location Good qiMi I qr I Site/View I - Desi n and Appeal Average lInferior 1 +10 000 Superior -20 000 Superior I -25 00 Quality of Count. Average Panabode I +10 000 Similar I -0- Superior I -10 00 Age 1961 1965 -0- 1969 I -0- 1972 -0 Condition Avg. -good Fair-avg., I +5 000 Good -5 000 Similar ' -0- Living Area Room Total i B-rms Baths Total i B-rms i Baths Total B-rms I Baths I Total B-rms i Baths Count and Total 4: 3 -3 4 +2 , 000 6 3 2 1 +2 , 000 5 4; 2-3/4 6 3 3 1663 .Ft. Gross Living Area 1283 Sq. F t. +9 500 1235 S .Ft. +11 000 2060 s .Ft. -10,0010 Basement & Bsmt. Finished Rooms None Similar -0- I Greenhouse I -10 , 000 Similar i -0 • Functional Utility SF + guest SF + guest -0- Single family +3 000 ISingle family +3 00 • Air Conditioning None Similar -0- Similar I -0- 1 Similar I -0- Garage/Car Port 1 Carport None +3 000 None I +3 000 11 car ara e -2 00 Porches, Patio,' Pools, etc. Deck Similar -0- Similar 1 -0- Similar i -0 Special Energy None Similar i -0- I Similar -0- I Similar i -0- Efficient Items i Other (e.g. fire- Average Similar -0- Similar i -0- Similar i -0- places, kitchen equip., remodeling) i I Sales or Financing Concessions Conv. I Similar -0- I Similar -0- I Similar I -0 Net Ad'. (Total) i lus; ❑ Minus :$ 64,000 F&I Plus; Minus 1$ 4,000 11 El Plus; Zj Minus !$ 19.000 In Indicated Value � $ 229,500 $ 229,000 I �$ 231,000 Subject�7�s� Comments on Market Data Sale 1 is located next door to the sub ' ect but is our oldest sale and is inferi in size, sin quality and appeal. Sales 2 and 3 are reasonably comparable homes located in- comparable nearby neighborhoods and are indicative of the current market, (see attached) INDICATED VALUE BY MARKET DATA . • . . . . . . . . . . . . . . . . . . . . . . $ 230 000 INDICATED VALUE By INCOME• ' (If applicable) Economic Market Rent $ N/A /Mo. x Gross Rent Multiplier = $ N A This appraisal is made KI "as is" ❑ subject to the repairs, alterations, or conditions listed below ❑ completion per plans and specifications. Comments and Conditions of Appraisal: None Final Reconciliation: sites as an altprnativp to a buyer directs that we give this a roach least weight. We give most emphasis to the actions of buyers of similar neighborhood homes as outlined in the market CoSTrTi�tfon Warranty ❑ Yes � No Name of Warranty Program Warranty Coverage Expires This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in ❑ FHLMC Form 439 (Rev. 10/78)/FNMA Form 1004E (Rev. 10/78) filed with client 19 ® attached. I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OF May 18 1979 to be $ 230,000 Appraiser(s) �a-a�" "�lReview Appraiser (If applicable) ❑ Did ❑ Did Not Physically Inspect Property FHLMC Form 70 Rev. 10/78 FNMA Form IUU4 Hev, wins Comments (continued): Your appraisers are aware that the function of this appraisal is to aid in establishing a list price for the subject. In this regard, as a result of vagaries typical of the Aspen residential market, the scarcity of homes in this price category, the rapidly appreciating prices and a need for room for market negotiations, we suggest an actual list price higher than our appraised value, say $250,000, be selected as appropriate. During the course of the listing period, this list price should be reviewed for possible minor adjustments to reflect market trends. r Sketch of Subject Not to scale; dimensions are approximate; for descriptive purposes only. s 06 4 611, Ae 2 v\ 3 6 4 5� -I G I 3�J ••I 1 1 2 S P N VI EW A / 1JA 3 4 5 �6-2 TIc n -� 3 q 1 p 3 q Q C , v� 1 2 D 2 5 6 6 5�� 11 a' ., z 13 8 C.1. Pi pe 1 9 Q Ip 9 14 jm / 15 10 7 16 17 E N ���`� 9 I! i 1$ ,9 ,�`� 3 GR 7 1: 6 % j! �,C,PJ T 1 5 s S of D� 6 1 2 4 s 4 3 A I ASPEN 11 GROVE CEMETERY r 2 13 1 J 8 7 4 2 \14 15 ER 1 3 a 3 g „2 6 5 0 2Fv 5 4 4 K OL 16 IQ 6 / \J S w sT1 O I O 3 Q ►--� ' 8 R� ER 10E 23 24 � 29 1 �Lli a. 19 2O 21 2 Q�� 6 28 v �P co 27 26 2 7 / RDAi �A� q Q� /CRYST4� -9 'pP 5 23 r L A K E 1 8 9 Fq 24 2 14q 'Qci-E 13 10 ley OD to s 11 r I2A EA 3w 0 Iq CRYSTAL LA I E R D. 2 OHWAY No. 82 C LAH4N T1 I DEFINITION OF MARKET VALUE: The highest price in terms of money which a property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in cash or its equivalent; (5) financing, if any, is on terms generally available in the community at the specified date and typical for the property type in its locale; (6) the price represents a normal consideration for the property sold unaffected by special financing amounts and/or terms, services, fees, costs, or credits incurred in the transaction. ("Real Estate Appraisal Terminology," published 1975.) CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS CERTIFICATION: The Appraiser certifies and agrees that: 1. The Appraiser has no present or contemplated future interest in the property appraised; and neither the employment to make the appraisal, nor the compensation for it, is contingent upon the appraised value of the property. 2. The Appraiser has no personal interest in or bias with respect to the subject matter of the appraisal report or the partici- pants to the sale. The "Estimate of Market Value" in the appraisal report is not based in whole or in part upon the race, color, or national origin of the prospective owners or occupants of the property appraised, or upon the race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 3. The Appraiser has personally inspected the property, both inside and out, and has made an exterior inspection of all comparable sales listed in the report. To the best of the Appraiser's knowledge and belief, all statements and information in this report are true and correct, and the Appraiser has not knowingly withheld any significant information. 4. All contingent and limiting conditions are contained herein (imposed by the terms of the assignment or by the under- signed affecting the analyses, opinions, and conclusions contained in the report). 5. This appraisal report has been made in conformity with and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the appraisal organizations with which the Appraiser is affiliated. 6. All conclusions and opinions concerning the real estate that are set forth in the appraisal report were prepared by the Appraiser whose signature appears on the appraisal report, unless indicated as "Review Appraiser." No change of any item in the appraisal report shall be made by anyone other than the Appraiser, and the Appraiser shall have no responsibility for any such unauthorized change. CONTINGENT AND LIMITING CONDITIONS: The certification of the Appraiser appearing in the appraisal report is subject to the following conditions and to such other specific and limiting conditions as are set forth by the Appraiser in the report. 1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the title there- to, nor does the Appraiser render any opinion as to the title, which is assumed to be good and marketable. The property is appraised as though under responsible ownership. 2. Any sketch in the report may show approximate dimensions and is included to assist the reader in visualizing the prop- erty. The Appraiser has made no survey of the property. 3. The Appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made therefor. 4. Any distribution of the valuation in the report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal and are invalid if so used. 5. The Appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The Appraiser assumes no responsibility for such conditions, or for engineering which might be required to discover such factors. 6. Information, estimates, and opinions furnished to the Appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished the Appraiser can be assumed by the Appraiser. 7. Disclosure of the contents of the appraisal report is governed by the Bylaws and Regulations of the professional appraisal organizations with which the Appraiser is affiliated. 8. Neither all, nor any part of the content of the report, or copy thereof (including conclusions as to the property value, the identity of the Appraiser, professional designations, reference to any professional appraisal organizations, or the firm with which the Appraiser is connected), shall be used for any purposes by anyone but the client specified in the report, the borrower if appraisal fee paid by same, the mortgagee or its successors and assigns, mortgage insurers, consultants, professional appraisal organizations, any state or federally approved financial institution, any department, agency, or instrumentality of the United States or any state or the District of Columbia, without the previous written consent of the Appraiser; nor shall it, be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written consent and approval of the Appraiser. 9. On all appraisals, subject to satisfactory completion, repairs, or alterations, the appraisal report and value conclusion are contingent upon completion of the improvements in a workmanlike manner. Date:. . . .�1.5./. . . . . . . Appraiser(s) . . . . . . . . . . . . . . . . FHLMC FORM 439 REV. 10/78 FNMA FORM 1004B RKV. 10�78 Assadales,10C Real Estate Appraisers and Consultants Crystal Palace Building • 300 East Hyman Avenue • Aspen, Colorado 81611 • 303/925 8987 Aspen, Colorado QUALIFICATIONS OF APPRAISER Scott M. Bowie, R.M. PROFESSIONAL AFFILIATIONS: Residential Member, American Institute of Real Estate Appraisers Licensed Real Estate Broker in the State of Colorado Member of Aspen and Colorado Boards of Realtors Member of National Association of Board of Realtors EDUCATION: Harvard University, BA, 1971. Phi Beta Kappa, Magna Cum Laude University of Colorado Continuing Education Division: Real Estate Law Real Estate Finance American Institute of Real Estate Appraisers: Course 1-A, Principles Course VIII, Residential Course 1-B, Capitilization Techniques Course 2, Urban Properties BACKGROUND AND EXPERIENCE: Associate Appraiser, James J. Mollica & Assoc., Aug. 1976 - present Colorado Real Estate Broker, 1974 - present Condominium Property Management, Durant Condominiums, Aspen, Colorado, 1971-76 MAJOR CLIENTS SERVED: Aspen Industrial Bank Aspen Savings and Loan Assoc. Bank of Aspen City of Aspen County of Pitkin TYPES OF PROPERTY APPRAISED: Single Family Residential Condominium Vacant Land Empire Savings and Loan Assoc. First National Bank of Aspen First Western Mortgage Corp. Majestic Savings and Loan FUNCTIONS OF APPRAISALS: Acquisition Insurance Partition Condemnation Listings Sales Estate Planning Mortgage Tax Planning 4 Wit 1 ti 1 r 1 � 1 View north along Riverside Drive Neighborhood typical home urf ,I .yi Y� wyJ� 1' ' x N AM r �. 111t.1:1111 i; „��,'.� ,:I �1�11 I11r, ,1f. Ih :,III _ .i•. .....: �I �il,� ..� F it - .. . r :►r'I''.�l i� , 4 ' t • ilk I t Jt t 1 I .l •. 1.1 J.1 l .1111'1, � 1 l�,t.l'tit: in r i .�` "_�.,� �'lA'I I•. !,I i �)l.lJl.:11)IJ, 1 9 j4 F �.1 1! • 6 m �- 71 — 4 • � � � -1 0atol)er 21 1960 Recorded at..L.Q....�� -..o'clock -... ...�_. M - - .._..-.. .._.. ....- } . �._.. - - .... _�.-. 3tecopuoa No. 1 l 0�.2. 4. ..... ......_�...» .. ._ ......_Pe. - .. Fr..f..-._C o-__.......... Iteoordet. r _ .. Coble ...mow-....-.. _-.�._.. ... .,.... -..,. Nltuw all Men hu t4r09 33rrs9Uts, That, whereas, Rici:era G. harper 7X, t'r of Ow County of Attlidn, in the State of Colorado, by hi s certain Deed of Trust, dated the day of Sept-Mber , A. D. 19 57 , and duly recorded in the, office of the, County Clerk and Recorder of Pitkin County, in the State -of Colorado, on the day of September, A. D. 1957 , illook 1 82' of said L'itl:irt Count' Records, on Page 321 , conveyed ,the Pubuc'Trustej, in'°>the County tt�`2'itkin, in I l,e ,State of Colorado, certain real estate in said Deed of Trust described, in trust,to secure to ` Fredric A. Benedict the payment of L. ,•el t" ila tir„n i. ; u n„te with interest and, all charges ,thereon, as in said Deed of Trust mentioned. And, Whereas, The said Richard G.' ia�r has paid and <<::.•-:,ii-t':c i ::IJ 1, ,te , together with all int,orest and•charges thereon, according to its tenor; • Now, Therefore, At the request, of the said Fredric A. Bonediet :,t"'re aid, :md' in consideration cif the premises, and in further consideration of tale suns of Two Dollars, t„ III(, in lland paid by the said Fredric Benedict I he ruceipt: whereof is hercky acknowledged, I, Fillip J. Crosby . III(,, Public Trustee in the County of Pitkin, iu the St I, of Cc,lurado, do hereby remise, rele;,se and forever dolt-gl III unto .al : , the s:Iid Aichard G. l,;_ir,-cr Ind heirs and assigns forever, all the right, title and interest «vhieh I h:,N'e in and to the by u•tue of aid Deed of Trust.; and more particularly described as follows, to -•,%•it: that prohertyC �� e'd in trust, in and by Docu►nent, No. 1 �� (( as recorded in the y office of the County Clerk and Recorder of said Pitkin County, Colorado, in book and at page aforesaid. sit•uat<e, lying and bcing in Ili( ("„ante of Pid,in :-nd i�.te 4 Colorado. 'TQ 11ave and to Hold the fame, "I', r tl�, r �� i l :,II and singular the privileges and : , ;uten;ince4 t uoto kilo said tr heir." and as-i,1,l„ f4,r,�ver. A I I d fiirilter; the the said Trust Deed is by thc-,44 t,oT�ent� to l,e Ko n6 'r as fully and I� r, 1�;:L.,cd, t:at,,, l , i :,n1 forever.di§eharged. x. 33 MN- haul'! :;nil ,•:d till- do y cif Oct :r 1. { ►. 1n Puldw Tru. tee in 4,ud ]Vitkln (,it/tjlkv- �- execute thi., )cleat, the. indebtedni�ss sec,ii-ed by tl,e ul,ove mentioned deed.of trust having been Owl 4 � S ;r The Beneficiary named in said deed of true! and the tepalAolda of the indebtedness secured by said deal of true!. •VOLORADO, r ss. Y of Pitkin, I, c. �-f• �� b�� tj�,{ry , a \",,Lary Public ul County, in the State aforesaid 4o hereby certify that s 51 y I7^.i].lip d � Ci•;�., i:;�, , in said County, known to me to he such and who is personally known to toe to he the person ', subscribed to the foregoing Deed, as such Public 'Trustee, appeared before n,e this day in F'` ' ;° `Person and acknowledgbed that as and in the capacity of Public 'Trustee in the Count V aforesaid, he signed n ,�N 7 J , ? Waled 4nd deli\ Bred the said instrument of writing as his free and voluntary act for the uses and purposes �'V rein lap! forth. , QlVell.under myLand atad Notarial seal, this day of . ° 199T). >yUjutlli�'icx?-c�I;l,ires r. 1c9 w _ • ' J �.. ..... _ _ .. .. . \ u'I'A IZY PUBLIC. 1 PAIR 7 J 1 3w rjlREL.EASE DEED OF TRUST BY PUBLIC TRUSTEE--rnsar.NOEaccLM.OrnvcR 22519e Is r.w-;fi,.,,�,,_. - ''•,,,,., .w. r�.r.. .'fw';,1�7113 M1a.!•7-• ,*AyY�y". - ____ - .i+��r�►