HomeMy WebLinkAboutcoa.lu.ex.Oliver Subdivision, Lot 8, Block 1 Pitkin Mesa
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MEMORANDUM
DATE:
October 4, 1979
Richard ~~
Ron St~~
TO:
FROM:
RE:
Oliver Subdivision Exemption
I recommend approval of the above-described subdivision exemption
subject to the six month minimum rental restriction of Section 20-
22 of the Code.
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FORM NO. C.e;();)')
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Oliver ~
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Nee hAe I
Policy of Title Insurance
Issued by
Transamerica Title Insurance Company
SUBJECT TO THE SCHEDULE OF EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CON- ~
TAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS ~
HEREOF, TRANSA;l.lERICA TITLE INSURANCE COMPANY, a California corporation, herein called i
the Company, insures, as of Date of Policy sho\\''Tl in Schedule A, against los5 or damage, not exceeding the a
amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company may
become obligated to pay hereunder, sustained or incurred by the in~ured by reason of:
1. Title to the estate or interest described in Schedule A being vested otherwise than as stated therein;
2. Any defect in or lien or encumbrance on such title;
3. Lack of a right of access to and from the land; or
4. Unmarketability of such title.
In Witness Whereoj, Transamerica Title Insnrance Company has cansed this policy to be signed and sealed
by its duly authorized officers as of Date of Policy shown in SchednIe A.
Transamerica Title Insurance Company
By
C#t~~'1
p~
---
President
By
Seuetary
'.
SCHEDULE OF EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy:
1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) re-
stricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in
ownership or a reduction in the, dimensions or area of the land, or the effect of any violation of any such law, ordi-
nance or governmental regulation.
2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears
in the public records at Date of Policy.
3. Defects, liens, encumbrances, adverse claims. or other matters (a) created, suffered, assumed or agreed to by the
insured claimant; (b) not known to the Company and not shown by the public records but known to the insured
claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy
and. not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became
an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subse-
quent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claim-
ant had paid value for the estate or interest insured by this policy.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "insured": the insured named in Schedule A, and,
subject to any rights or defenses the Company may have
against the named insured. those who succeed to the interest
of such insured by operation of law as distinguish2d from
purchase including, hut not limited to, heirs, distributees,
devisees, survivors, personal representatives. next of kin, or
corporate or fiduciary successors.
(b) "insured claimant": an insured Claiming loss or dam.
age hereunder.
(c) "knowledge": actual knowledge. not constructive
knowledge or notice which may be imputed to an insured by
reason of any public records.
(d) "land": the land described, speCifically or by reference
in Schedule A. and improvements affixed thereto \vhich by law
constitute real property: provided, however, the teml "land"
does not include any property beyond the lines of the area
specifically descnbed or referred to in Schedule A, nor any
right, title. interest, estate or easement in abutting stre(;ts.
roads. avenues, alleys, lanes, ways or watef',Vuys. but nothing
herein shall modify or limit the extent to which a right of
access to and from the land is insured by this policy.
(e) "mortgage": mortgage. deed of trust. trust deed, or
other security instrument.
(f) "public r€:-cords": those records which by Jaw impart
constructive notice of matters rel,ating to said land,
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF
TITLE
The coverage of this policy shall continue in force as of
Date of Policy in favor of an insured so long as such insured
retains an estate or interest in the land. or holds an indented.
ness secured by a purchase money mortgage given by a pur-
chaser from such insured. or so long as such insured shall
have liability by reason of covenants of warranty made by
such insured in anv transfer or convevance of such estate or
interest; provided, 'however, this policy shall not continue in
force in favor of any purchaser from such insured of either
said estate or interest or the indebtE'dness secured by a pur.
chase money mortgage given to such insured.
3. DEFENSE AND PROSECUTION OF ACTIONS - NOTICE OF
CLAIM TO BE GIVEN BY AN INSURED CLAIMANT
(a) The Company. at its own cost and without undue
delay, shall providt' for the defense of an insured in all litiga-
tion consisting of actions or proceedings commenced against
such insured. or ;:t defense interposed against an insun..>d in an
action to enforct' a conlract for a sale of thl' estate or interest
in said land. to tl1(' extent that such litigation is founded upon
an alleged defect. lien, t'ncumbrance. o'r other matter insured
against by this policy.
(b) The insured shall notify the Company promptly in
writing; (i) in case any action or proceeding is begun or de-
fense is interposed as set forth in (a) above, (ii) in case knowl-
edge shall come to an insured hereunder of any claim of title
or interest which is adverse to the title to the estate or interest.
as insured. and which might cause 10s5 or damage for which
the Company mav be liable by virtue of this policy, or (iil) if
title to the estate or interest, as insured, is rejected as un-
marketable. If such prompt notice shall not be given to the
Company. then as to such insured all liability of the Company
shall cease and terminate in regard to the matter or matters
for which such prompt notice is required; provided. however,
that failure to notify shall in no case prejudice the rights of any
such insured under this policy unless the Company shall be
preiudiced by such failure and then only to the extent of
such prejudice.
(c) The Company shall have the right at its own cost to
institute and without undue delay prosecute any action or
proceeding or to do any other act which in its opinion may be
necessary or desirable to establish the title to the estate or
interest -as insured. and the Company may take any appiO-
priate action under the terms of this policy, whether l)f not
it shall be iiable thereunder. and shall not thereby concede
liability or waive any provision of this policy.
(d) Whenever the Company shall have brought any actior,
or interposed a defense as required or permitted by the pro'
visions of this policy. the Company may pursue any such
litigation to final determination by a court of competent juris-
diction and expressly reserves the right,.in its sole discretion,
to appeal from any adverse judgment or order.
(e) In all cases where this policy permits or requires the
Company to prosecute or provide for the defense of any action
or proceeding, the insured hereunder shall secure to the
Company the right to so prosecute or provide defense in such
action or proceeding, and all appeals therein, and permit the
Company to use, at its option, the name of such insured for
such purpose. Whenever requested by the Company, such
insured shall give the Company all reasonable aid in any such
action or proceeding, in effecting settlement. securing. evidence,
obtaining witnesses, or prosecuting or defending such action
or proceeding, and the Company shall reimburse such insured
for any expense so incurred.
4. NOTICE OF LOSS - LIMIT A TlON OF ACTION
In addition to the notices required under paragraph 3(h)
of these Conditions and Stipulations. a statement in writing
of any loss or damage far which it is claimed the Company
is liable under this policy shall be furnished to the Company
within gO days after such loss or damage shall have been de.
termined and no right of action shall accrue to an insured
claimant until 30 days after such statement shall have heen
furnished. Failure to furnish such statement of loss or damage
shaH terminate any liability of the Company under this policy
as to such loss or damage,
Continued on Front of Back Cover
, '
.
Continued from Back of Front Cover
5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS
The Company shall have the option to payor otherwise
settle for or in the name of an insured claimant any claim in-
sured against or to terminate all liability and obligations or
the Company hereunder by paying or tendering payment of
the amount of insurance under this policy together with any
costs, attorneys' fees and expenses incurred up to the time
of such payment or tender of payment. by the insured claim-
ant and authorized by the Company.
6. DETERMINATION AND PAYMENT OF LOSS
(a) The liability of the Company under this policy shall
in no case exceed the least of: ~
(i) the actual loss of the insured claimant: or
(ij) the amount of insurance in Schedule A.
(b) The Company will pay, in addition to any loss insured
against by this policy, all costs imposed upon an insured in liti.
gation carried on by the Company for such insured, and all
costs, attorneys' fees and expenses in litigation carried on by
such insured with the written authorization of the Company.
(c) When liabilIty has been definitely fixed in accordance
with the conditions of this policy, the less or damage shall be
payable within 30 days thereafter.
7. LIMITATION OF LIABILITY
No claim shall arise or be maintained under this policy
(a) if the Company, after having received notice of a'n alleged
defect, lien or encumbrance insured against hereunder, by
litigation or otherwise, removes such defect, lien or encum-
brance or establishes the title. as insured, within a reasonable
time after receipt of such notice; (b) in the event of lit!gation
until there has been a final determination bv a court of com~
petent jurisdiction. and disposition of all appeals therefrom.
adverse to the title. as insured, as provided in paragraph 3
hereof; or (c) for liability voluntarily assumed by an insured
in settling any claim or suit without prior written consent of
the Company.
B. REDUCTION OF LIABILITY
All payments under this policy, except payments made for
costs, attorneys' fees and expenses, shall reduce the amount
of the insurance pro tanto. No paymenl shall be made without
producing this policy for e.ndorsement of such payment unless
the policy be lost or destroyed, in which case proof of such
10,;s or destruction shall be furnished to the satisfaction of
the .Com.pany.
9. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance
under this policy shall be reduced by any amount the Com-
pany may pay under policy insuring either (a) _ a mortgage
shown or referred to in Schedule B hereof which is a lien on
the estate or interest covered by this policy, or (b) a mortgage
hereafter executed by an insured which is a charge or lien on
the estate or interest described or referred to in Schedule A.
and the amount so paid shall be deeml:d a payment under this
policy, The Company shall have the option to apply to the pav.
ment of any such mortgages anv amount that otherwise would
be payable hereunder to the insured owner of the e~tate or
interest covered by this policy and the amount so paid shall
be deemed a payment under this policy to said insured owner.
10. APPORTIONMENT
If the land described in Schedule A consists of two or more
parcels which are not used as a single site, and a loss is estab.
lished affecting one or more of said parcels but not all. the
loss shall be computed and settled on a pro rata basis as if
the amount of insurance under this policy was divided pro
rata as to the value on Date of Policy of .each separate parcel
to the whole. exclusive of any improvements made suhsequent
to Date or Policv, unless a Iiabilitv or value has otherwi!.c
been agreed upon as to each such parcel by the Company and
the insured at the time of the issuance of this policy and
shown by an express statement herein or by an endorsement
attached hereto.
11. SUBROGATION UPON PAYMENT OR SETTLEMENT
\Vhenever the Company shall have settled a claim under
this policy, all right of subrogation shall vest in the Company
unaffected by any act of the insured claimant. The Company
shall be subrogated to and be entitled to all rights and reme-
dies which such insured claimant would have had against any
person or property in respect to such claim had this policy not
been issued. and if requested by the Company, such insured
claimant shall transfer to the Company all rights and remedies
against any person or property necessary in order to perfect
such right of "iubrogation and shall permit the Company to
use the name of sech insured claimant in any transaction or
litigation involving such rights or remedies. If the payment
does not cover the loss of such insured claimant, the Companv
shall be subrogated to such rights and remedies in the pro-
porticn which said payment bears to the amount of said loss.
If loss should result from any act of such insu!""ed claimant,
such act shall not void this poHey, but the Comflany, in that
event, shail be required to pay only that part of any losses
insured against hereunder which shall exceed the amount, if
any, lost to the Company by reason of the impairment of the
right of subrogation.
12. LIABILITY LIMITED TO THIS POLICY
This instrument together with all endorsements and other
instrJments, if any, attached hereto by the Company is the
entire policy and contract between the insured and the
Company.
Any claim of loss or damage, whether or not based on
negligence, and which arises out of the status of .the title to
the estate or interest covered hereby or any action asserting
such claim, shall be restricted to the provisions and conditions
and stipulations of this policy.
No amendment of or endorsement to this policy can be
made except by writing endorsed hereon or attached hereto
signed by either the President, a Vice President, the Secretary,
an Assistant Secretary, or validating officer or authorized
signatory of the Company.
13. NOTICES, WHERE SENT
All notices required to be ~iven the Company and any
statement in wrilin~ required to be furnished the Company
shall be addressed to Transamerica Title Insurance Company,
p, O. Box 605, Denver, Colorado 80201.
FORM NO. C_5000.' _""
FOR USE WITH COLORADO REGION (, RICAN LA.Ne TITLE A.SSOCIATION OWNER'S PO !-FORM B- 1970 (AMENDED 10_17_70)
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SCHEDULE A
Date of Policy June 12, 1979 at 10:43 A.M.
Policy No. 7301216
Sheet I of L
Amount ofInsurance $ 175,000.00
1. Name ofInsured:
MICHAEL D. OLIVER
2. The estate or interest in the land described herein and which i. covered by this policy i.:
In fee s:il11p1e
3. The estate or interest referred to herein is at Date of Policy vested in:
MIrnAEL D. OLIVER
FORM NO. C-6000-2 Co,
FOR USE WITH COLORADO REGI .MERICAN LAND TITLE ASSOCIATiON LOAN PO, 1970 (AMENDED 10-17.70)
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER"S POL.ICY-FORM B-1870 (AMENDED 10_17_70)
S C II E D U LEA-Continued
The .land referred to in this policy is situated in the State of Colorado, County of
, and is descrihed as follows:
Pitkin
IDt 8, Block 1 PITKIN MESA SUBDrVISION
FORM NO. C-6000-3 c';;."., ,-
FOR USE WITH COLORADO REGI _ MERICAN LAND TITt..E ASSOCIATiON LOAN POL ,pi 1970 (AMENDED 10.17.70)
FOR USE WITH COLORADO REGION AMERICAN LAND TITLE ASSOCIATION OWNER"S POLICY-FORM B-1Si170 (AMENDED 10-17.70)
SCHEDULE B
PART I
This Policy does not insure against loss or damage by reason of the following:
1. Rights or claims of parties in possession not shown by the public records.
2. Easements, or claims of easements, not shown by the puhlic records.
3. Discrepancies, conflicts in houndary lines, shortage in area, encroachments, and any facts which a cor-
rect survey and inspection of the premises would disclose and which are not shown by the public records.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by
law and not shown by the public records.
5. Taxes due and payable; and any tax, special assessments, charge or lien imposed for water or sewer
service, OJ; for any other special taxing district.
6. The right of a proprietor of a vein or lode to extract and rerrove his ore
therefrpn, should the same be found to penetrate or intersect the premises,
as reserved in United States Pate.'1t recorded in Book 55 at Page 5.
7 . Protective covenants al'.d restrictions, which do not contain a forfeiture or
reverter clause, but ani tting restrictions, if any, based on race, color,
religion or national origin, as contained in instrument recorded December
22, 1965 in E=k 217 at Page 508.
8. Easerrents for road and utilities along the l'Iesterly 40 feet and Easterly 10
feet as set forth on the plat of said sul::division.
9. 15 foot easerrent for sewer line and utilities along the Northerly 15 feet of said lot
as set forth in instrurrent recorded July 13, 1971 in E=k 256 at Page 501.
10. Deed of Trust fran : Michael D. Oliver
to the Public Trustee of the County of pitkin
for the use of : First National Bank in Aspen
dated .: June 11, 1979
recorded : June 12, 1979 in E=k 370 at Page 484.
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MEMORANDUM
TO: Dan McArthur, City Engineer
Ron Stock, City Attorney
FROM: Richard Grice, Planning Office
RE: Oliver Subdivision Exemption
DATE: September 20, 1979
Attached please find subdivision exemption application for the condominiumiza-
tion of a duplex. This item is scheduled to come before the Aspen Planning and
Zoning Commission on Tuesday, November 20, 1979. Therefore, may I please have
your written comments concerning this application no later than Monday, November
12, 1979. Thank you.
TO:
FRa-1:
RE:
DATE:
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MEMORANDUM
Aspen Planning and Zoning Commission
Richard Grice, Planning Office
Oliver Subdivision Exemption
November 15, 1979
Zoning:
Location:
Lot Size:
Renta 1
History:
Engineering
COlTITIents:
Attorney's
Comments:
Planning
Office
Recom-
mendation:
R-15
Lot 8, Block 1, Pitkin Mesa Subdivision
15,987 Square Feet
This duplex is presently under construction and therefore has no
rental history. The application clearly does not reduce the
supply of low or moderate income housing.
al subject to three
placed on the next
The Engin
conditions b . g corrected prior to
City Council age
plat to be revi sed a -resubmit
overhead utility and pole
on the property. Finall
underground phone lin is require. The Engineering Department's
complete comments found in a memora dated November 9,
1979, which is i luded in your packet for y iew.
/
"I recommend approval for the above described subdivision exemption
subject to the six month minimum rental restriction of Section
20-22 of the Code."
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Approval subject to the iii'll L~.v_.I,II..efls round in the Engineering
Department's memo of Nevem~er~> 1979 being corrected prior to
be placed on the next City Council agenda and subject to the
six month minimum lease restrictions of Section 20-22 of the Code.
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MEMORANDUM
TO:
Richard Grice, Planning Office ~
Daniel A. McArthur, City Engineerb)
FROM:
RE:
Oliver Subdivision, Lot 8, Block 1, Pitkin Mesa
Subdivision
DATE:
December 17, 1979
After having reviewed the second amended survey plat for the
above subdivision exemption and having made a site inspection
the Engineering Department recommends approval for the above sub-
division exemption subject to the owner/applicant agreeing to
enter into a sidewalk, curb and gutter improvement district in
the event one is formed in the future and so deed restrict in
the statement of exemption.
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~1EMORANDUM
TO: Richard Grice, Planning Office
FROM: Daniel A. McArthur, City Engineer
RE: Oliver Subdivision, Lot 8, Block 1, Pitkin Mesa
Subdivision
DATE: November 9, 1979
After having reviewed the survey plat for the above subdivision
exemption and having made the site inspection the Engineering
Department recommends the following:
1. The owner/applicant shall revise and resubmit the survey plat
to include the following:
A. Show dimension and center line of Cemetary Lane and edge
of pavement.
B. Change 20' utility easement to read 20' utility and road
easement as per amended Pitkin Mesa Subdivision Plat in
plat book 4, page 190.
C. Change 20' road easement to read 20' utility and road ease-
ment as per amended pitkin Mesa Subdivision in plat book
4, page 190.
D. Show existing undeground phone line.
E. Remove existing steps as shown on easterly portion of lot 8.
F. Show existing driveway off of Cemetary Lane and show pro-
posed parking for units A and B.
2. Owner/applicant shall provide overhead utility easement and
pole easement for all overhead utilities located on lot 8.
3. Owner/applicant shall provide an underground easement for
existing underground phone lines on lot 8.
The Engineering Department recommends approval for the above sub-
division exemption subject to the owner/applicant correcting the
above conditions under item 1, 2, and 3 prior to being placed on
the next City Council agenda.
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MEMORANDUM
TO: Aspen City Council
FROM: Richard Grice, Planning Office
RE: Oliver Subdivision Exemption
DATE: January 8, 1980
Zoning: R-15
Location: Lot 8, Block 1, Pitkin Mesa Subdivision
Lot Size: 15,987 Square Feet
Rental History:
This duplex is presently under construction and therefore has
no rental history, A single family house previously existed
on this property and was occupied by its owner for a period
of three years prior to selling it to Michael Oliver. The
application clearly does not reduce the supply of low or
moderate income housing.
Engineering
COlMlents:
"After having reviewed the amended survey plat for the above
subdivision exemption and having made a site inspection, the
Engineering Department recommends approval for the above
subdivision exemption subject to the owner/applicant agreeing
to enter into a sidewalk, curb and gutter improvement district
in the event one is formed in the future and so deed restrict
in the s ta temen t of exempti on. "
Attorney's
COlMlents:
"I recommend approval for the above described subdivision
exemption subject to the six mnntb_minimum rental restriction
of Section 20-22 of the Code." ,-,- ..
Planning Office
Recommendation:
Approval subject to the owner/applicant agreeing to enter into
a sidewalk, curb and gutter improvement district in the event
one is formed in the future and so deed restrict in the
statement of exemption and subject to the six month minimum
rental restriction of Section 20-22 of the Code.
P and Z
RecolMlendation:
Approval subject to the owner/applicant agreeing to enter into
a sidewalk, curb and gutter improvement district in the event
one is formed in the future and so deed restrict in the
statement of exemption and subject to the six month minimum
rental restriction of Section 20-22 of the Code.
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To Whom it may concern;
I, Sandy Waltner, owned and lived in the log cabin
located at 1085 Cemetary Lane, Lot 8,pitkin Mesa Subdivi-
sion,for a period of three years prior to selling it to
Michael Oliver. At no time was it rented.
Sincerely.
G-iv~^' tL
Sandra Waltner
. ,
~CL-L~~
11- ;;;1.-7/'
STATE OF COLORADO )
) ss.
COUNTY OF PITKIN )
Subscribed and sworn to before me this 21st day
of November, 1979- by Sandra Waltner.
My Commission expires 11/20/82
WITNESS my hand and official seal.
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Notary Publ~c ' .
RECORDED AT 11;15 A..
10 MARCH, 1980 LORETTA BAn' 1', RECORDER
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RECEPTION
STATEMENT OF EXEMPTION FROM THE
BEFINITION OF SUBDIVISION
(, :::J
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WHEREAS, the provisions of Section 20-19 (b) of the
Aspen Municipal Code provide that. following receipt of a
recommendation from the Planning Commission. the City Council
may exempt a particular division of land from the definition of
a subdivision set forth in Section 20-3 (s) of the Code. when. in
the judgment of the City Council, such division of land is not
within the intent 'and purpose of subdivision regulation. and
WHEREAS. pursuant to said Section 20-19 (b).
Michael D. Oliver has requested such an exemption for
the condominiumization of a duplex located at:
Lot #8
Block #1
Pitkin Mesa Subdivision
Pitkin County. Colorado
WHEREAS. the Aspen Planning and Zoning Commision. at
its meeting held
l2.j/8j7Cf
. recommended approval
of such request. and
WHEREAS. the City Cou~bllhas determined that the
proposed condominiumization is not within the intents and
purposes of subdivision regulation.
THEREFOiE. the Aspen City Council. pursuant to the
authority granted in Section 20-19 (b) of the Aspen Municipal
Code. does hereby determine and declare that the proposed
condominiumization of the property above-described is without
the intents and purposes of Chapter 20 of the Aspen Municipal
Code and does hereby waive the enforcement of the City subdivision
regulation with respect thereto subject only to the provisio~s
BOOK384 .".,Jj81
regardlng mlnlmun slx month lease terms set forth ln Sectlon 20-22
of the Aspen Murlclpal Code and to the condltlon that the Appllcant
agrees to an agreement to joln a curb. gutter. and sldewalk
lmprovement dlstrlct.
Done thls ~day of~~r.
the Aspen Clty Councll at lts regular meetlng ~ld
1980. by
on sald date.
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He~--ec-
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STATE OF COLORADO )
) ss.
COUNTY OF PITKIN )
me thls
The foregolng lns
IJh.) day of
was duly acknowledged before
1980. by HERMAN EDEL
and KATHRYN S. KOCH.
me to be Mayor and
Clty Clerk of the Clty of Aspen. Colorado. Wltness my hand
and offlclal seal.
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RECORDED AT 11:16 A.
10 MARCH, 1980
LORETTA c "'1NER, RECORDER
BDOK 384 !'!'i~ 682
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RECEPTION
COVENANTS
MII'h!lel D. 011"'i'r
("covenantors"), for themselves, their heirs, executors, admin-
istrators, and assigns hereby covenant with the City of Aspen,
Pitkin County, Colorado, that:
1. ~l~hQ~l n nliv~~
are the owners of the following described property together with
the improvements thereon, situate in the County of Pitkin, State
of Colorado:
Lot #8
Block #1
Pitkin Mesa Subdivision
Pitkin County, Colorado
2. The above-described property shall be restricted to six
(6) months minimum leases with no more than two (2) shorter tenan-
cies in any calendar year.
3. At the time the property is offered for sale, in whole or
in part, any tenant or tenants shall be given notice of such offer
together with the offered price. Each tenant shall have a ninety-
day non-assignable option to purchase the portion of the property
he has under lease at the price stated in the offer of sale.
4. At the time a bona fide offer to purchase is made and
accepted, the tenant or tenants shall have a ninety-day exclusive
non-assignable right of first refusal to purchase the portion of
the property which he has under lease.
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 bona fide offer
or offered price, whichever is less.
5. In the event that any improvement or improvements
required by Section 20-16 of the Code of the City of Aspen become,
in the sole judgment or discretion of the City Council of the City
of Aspen, necessary or desirable, no objection will be made to any
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5{)OK 384 ,I.;: 683
special assessment or special tax or proceeding therefor, on the
basis that the property is adequately served by existing improve-
ments, nor on the basis that the premises will not be served or
benefited by the improvement or improvements proposed. Further,
in such event, covenantors agree to comply with Section 19-101 of
the Municipal Code of the City of Aspen.
6. The covenants contained herein are to run with the land
and shall be binding on all parties and all persons claiming under
them for a period of twenty (20) years from the date these cove-
nants are recorded, after which time, said covenants shall be
automatically extended for successive periods of ten (10) years,
unless an instrument signed by the City of Aspen and the then
record owners of the property has been recorded, agreeing to
change said covenants in whole or in part or agreeing to release
said covenants.
this
IN WITNESS WHER~ this Declaration has been duly executed
C?I,- doy of J(b'~ ' 1980.
7~2~ ~ (}tWL
County of pitkin
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'fIL-
th iSc2&
STATE OF COLORADO
doy o:h" ~;:"<om"m' woo aOkmow:"::::, ~:o<" m"
(fIICllh- ,D. olr VEl'..
WITNESS MY HAND AND OFFICIAL SEAL.
, '}ty".commiss ion expires:
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