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RESOLUTION NO. c:2J.j
(Series of 1988)
A RESOLUTION REGARDING UNIT #2, McARTHUR CONDOMINIUMS
WHEREAS, unit #2, McArthur Condominiums, located at 707
Cemetery Lane, is currently restricted to the terms and condi-
tions of that Purchase and Option Agreement between the City of
Aspen and Paul J. Taddune and Constance E. Taddune, joint
tenants, dated December 1, 1983; and
WHEREAS, effective August 1, 1988, Paul J. Taddune will
evolve from the status of City Attorney of the City of Aspen to
"special counsel" for the city of Aspen and the City Council, in
connection therewith, desires to set forth certain understandings
concerning said Purchase and Option Agreement and, if necessary,
authorize and direct the Mayor to execute such documents as may
be necessary to effectuate the terms of this resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
Section 1
Paragraph "7" of the aforesaid Purchase and Option Agreement
shall be, and hereby is, modified to reflect that so long as
Taddune continues to provide services to the City of Aspen as
"special counsel", the option of the City Council to purchase the
aforesaid unit shall be extended, such option to be exercised
within two months after the date of termination of Paul J.
Taddune as "special counsel". Transfer of title shall occur six
months after the termination of said two-month period, unless
the parties agree as to a more convenient date.
section 2
To maintain the unit, Paul J. Taddune and Constance E.
Taddune are hereby authorized to undertake the repainting of the
interior and exterior of the unit and replace siding and decks
where necessary. The cost of such work shall be amortized over a
sixty-month period and Taddune shall be entitled to a reim-
bursement of the cost therefor, added to the purchase price of
the unit pursuant to Paragraph "7.C", based on that fraction of
the cost to be calculated by dividing the total cost for such
work by the number of months, or any portion thereof, remaining
in said amortization period from the date said improvements are
performed until such time as title may be transferred.
section 3
In view of the fact that there is no longer a "Denver-
Boulder Consumer Price Index (CPI-U-Housing) as set forth in
Paragraph "7(C) (ii) (A)", it is agreed that the CPI-U, Housing-
u.s. City Average shall be utilized for purposes of computing the
repurchase price.
section 4
Upon execution by the Mayor and Paul J. and Constance E.
Taddune, this resolution shall be deemed to modify the Purchase
and option Agreement in accordance with the terms hereof.
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Dated:
a~ /0
II
, 1988.
/
William L.
I, Kathryn S. Koch, duly appointed and acting City Clerk do
certify that the foregoing is a true and accurate copy of that
resolution adopted by the City Council
Colorado, at a meeting held ~
of the City of Aspen,
d.~
, 1988.
~~
The terms of the foregoing are hereby approved and agreed to
by the undersigned.
--~ l~.
Paul J. Taddune
/1, AJ-~ 0' '1~
(L.IfiJAU ft/Lf liLdcLIA/1ll
Constance E. Taddune
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