HomeMy WebLinkAboutcoa.lu.ex.Lots-O&P-Blk25.1977DRUBII�' W,, LOTS K-P, 1 L
The printed portion of this form approved by the
Colorado Real Estate Commission (SC 20-10.75)
RECEIPT AND OPTION CONTRACT
(RESIDENTIAL)
December (:P0 19 77
RECEIVED FROM William L. Drueding
Purchaser (as joint tenants), the sum of $ 8, 000.00 , in the form of personal check
to be held by seller pursuant to paragraph 1 1 d KDMt nxstiDa4xs n�X,
as earnest money and part payment for the following described real estate situate in the City of Aspen
County of Pitkin , Colorado, to wit:
Lots 0 and P of Block 25, City of Aspen
(see attached Exhibit A)
with all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter
provided, in their present condition, ordinary wear and tear excepted, known as No. 616 W. Hopkins
Avenue ,
which property purchaser agrees to buy upon the following terms and conditions, for the purchase price of
$ 65, 000.00 payable as follows: $ 8,000.00 hereby receipted for, $ 57,000,00
in the form of a cashier's check or certif:-ed funds at closing.
1. If a note and trust deed or mortgage is to be assumed, the purchaser agrees to pay a loan transfer fee not to
exceed $ none and it is a condition of this contract that the purchaser may assume such encum-
brance without change in its terms or conditions except none
2. Price to include any of the following items currently on the premises: Lighting, heating and plumbing fixtures;
all outdoor plants, window and porch shades, venetian blinds, storm windows, storm doors, screens, curtain rods, drap-
ery rods, central air conditioning, ventilating fixtures, attached TV antennas, attached mirrors, linoleum, awnings,
water softener (if owned by seller), fireplace screen and grate, built-in kitchen appliances, wall to wall carpeting
none
all in their present condition, free and clear of all taxes, liens and encumbrances except as provided in paragraph 4;
provided, however, that the following fixtures of a permanent nature are excluded from this sale:
none
3. }1xt6�4ix17Cp'c�]4}f]6XA current commitment for title insurance policy in an
amount equal to the purchase price, at seller's )apXNz XX& expense, shall be furnished the purchaser on or before
February 15 ,19 78. If seller elects to furnish said title insurance commitment, seller will
deliver the title insurance policy to purchaser after closing and pay the premium thereon.
4. Title shall be merchantable in the seller. Subject to payment or tender as above provided and compliance with
the other terms and conditions hereunder by purchaser, the seller shall execute and deliver a good and sufficient
general warranty deed to said purchaser on date of closing Exhibit A
or, by mutual agreement, at an earlier date, conveying said property free and clear of all taxes, except the general
taxes for 19 78 , pavable January 1, 19 79 , and except none
free and clear of all liens for special improvements now installed, whether assessed or not; free and clear of all liens
and encumbrances except easerr.Wnts for telephone, electricity, water and sanitary sewer, and except none
and subject to building and zoning regulations, and restrictive covenants of record. Any encumbrance required to be
paid may be paid from the proceeds of this transaction.
5. General taxes for 19 78 shall be apportioned to date of delivery of deed based on the most recent levy and the
most recent assessment. Prepaid rents, water rents, sewer rents, FHA mortgage• insurance premiums and interest on
encumbrances, if any, and none
shall be apportioned to date of delivery of deed.
No. SC 20-10-75. Receipt and Option Contract (Residential)— Bradford Publishing Co., 1824-46 Stout Street, Denver, Colorado —&77
6. The hour and place of closing shall be as designated by
Chuck Vidal
7. Possession of premises shall be delivered to purchaser on date of closing Exhibit A.
subject to the following leases or tenancies:
None
If the seller fails to deliver possession on the date herein specified, the seller shall be subject to eviction and shall be
liable for a daily rental of $ none until possession is delivered.
8. In the event the premises shall be damaged by fire or other casualty prior to time of closing, in an amount of not
more than ten per cent of the total purchase price, the seller shall be obligated to repair the same before the date herein
provided for delivery of deed. In the event such damage cannot be repaired within said time or if such damage shall
exceed such sum, this contract may be cancelled at option of purchaser. Should the purchaser elect to carry out this
agreement despite such damage, such purchaser shall be entitled to all the credit for the insurance proceeds resulting
from such damage, not exceeding, however, the total purchase price. Should any fixtures or services fail between the
date of this agreement and the date of possession or the date of delivery of deed, whichever shall be earlier, then the
seller shall be responsible for the repair or replacement of such fixtures or services with a unit of similar size, age and
quality or an equivalent credit.
9. Time is of the essence hereof, and if any payment or any other condition hereof is not made, tendered or performed
as herein provided, there shall be the following remedies. In the event a payment or any other condition hereof is not
made, tendered or performed by the purchaser, then this contract shall be null and void and of no effect, and both parties
hereto released from all obligations hereunder, and all payments made hereon shall be retained on behalf of the seller as
liquidated damages. In the event that the seller fails to perform any condition hereof as provided herein, then the
purchaser may, at his election, treat the contract as terminated, and all payments made hereunder shall be returned to
the purchaser: provided, however, that the purchaser may, at his election, treat this contract as being in full force and
effect with the right to an action for specific performance and damages.
10. In the event the seller fails to approve this instrument in writing on or before December 25,
19 77 , or if title is not merchantable and written notice of defects is given to the seller or agent within the time herein
provided for delivery of deed and shall not be rendered merchantable within 30 days after such written notice, then this
contract, at purchaser's option, shall be void and of no effect and each party hereto shall be released from all obligations
hereunder and the payments made hereunder shall be returned forthwith to purchaser upon return of the abstract, if
any, to seller; provided, however, that in lieu of correcting such defects, seller may, within said 30 days, obtain a
commitment for Owner's Title Insurance Policy in the amount of the purchase price showink the title to be free from
such defects and seller shall pay full premium for such Title Insurance Policy.
11. Add itonal Provisions: This contract is contingent upon the following:
a. Execution and closing of the attached Exhibit A, Contract between Shaw ant
James J. Mollica
b. Subdivision exemption from the City of Aspen on or before Februar;• 1978.
C. Purchaser receiving a loan committment from the Bank of Aspen by February
15, 1978.
12. Upon approval hereof by the seller, this agreement shall become a contract between seller and purchaser and
shall inure to the benefit of the heirs, successors and assigns of said parties.
7 Agent
Purchaser William L. Druedl g Date
By:
Purchaser Date
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Seller Seller
James J M 1 ca
Purchaser's Address
616 W. Hopkins Avenue, Aspen, Colorado
Seller's Address 300 E. Hyman Avenue, Aspen, Colorado
d. It is understood that the purchaser's $8,000.00 earnest money will be used
as earnest money for thAt
ler's contract attached as bit A.
e. This contract assignable or transferabl purchaser.
Exhibit A
The printed Portion of this form aDProved by the
Colorado Real Estate Commission (SC 20-1,,
I
RECEIPT AND OPTION CONTRACT
(RESIDENTIAL)
December 3, ,19 77
RECEIVED FROM James J. Mollica and/or nominee
Purchaser (as joint tenants), the sum of $- $2 , 000. 00 , in the form of Personal Check
to be held by Chuck Vidal , broke'r, in his escrow or trustee account,
as earnest money and part payment for the following described real estate situate in the City of Aspen
County of Pitkin , Colorado, to wit:
Lots KLMNOP of Block 25, City of Aspen
(see attached exhibit A
with all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter
provided, in their present condition, ordinary wear and tear excepted, known as No. 616 W. Hopkins Ave.
which property purchaser agrees to buy upon the following terms and conditions, for the purchase price of
$ 175,000.00 payable as follows: $_2.., 000. 00 hereby receipted for, $ 8,000.00
additional earnest money within 14 days after the acceptance
of this contract; $165,000.00 in cash or certified funds
at closing.
1. If a note and trust deed or mortgage is to be assumed, the purchaser agrees to pay a loan transfer fee not to
exceed $ none and it is a condition of this contract that the purchaser may assume such encum-
brance without change in its terms or conditions except none
2. Price to include any of the following items currently on the premises: Lighting, heating and plumbing fixtures;
all outdoor plants, window and porch shades, venetian blinds, storm windows, storm doors, screens, curtain rods, drap-
ery rods, central air conditioning, ventilating fixtures, attached TV antennas, attached mirrors, linoleum, awnings,
water softener (if owned by seller), fireplace screen and grate, built-in kitchen appliances, wall to wall carpeting
none
all in their present condition, free and clear of all taxes, liens and encumbrances except as provided in'paragraph 4;
provided, however, that the following fixtures of a permanent nature are excluded from this sale:' none
3•`BSas�tnsdti$t�it't%dFbb'deikrk a current commitment for title insurance policy in an
amount equal to the purchase price, at seller's option and expense, shall be furnished the purchaser on or before
F 1--ary 15 19 78. If seller elects to furnish said title insurance commitment, seller will
deliver the title insurance policy to purchaser after closing and pay the premium thereon.
4. Title shall be merchantable in the seller. Subject to payment or tender as above provided and compliance with
the other terms and conditions hereunder by purchaser, the seller shall execute and deliver a good and sufficient
General warranty deed to said purchaser on March lst 19 78
or, by mutual agreement, at an earlier date, conveying said property free and clear of all taxes, except the general
taxes for 19 78 , payable January 1, 19 79 , and except none
free and clear of all liens for special improvements now installed, whether assesses or not; free and clear of all liens
and encumbrances except easerneyts for telephone, electricity, water and sanitary sewer, and except non P
and subject to building and zoning regulations, and restrictive covenants of record. Any encumbrance required to be
paid maybe paid from the proceeds of this transaction.
5. General taxes for 19___7$ shall be apportioned to date of delivery of deed based on the most recent levy and the
most recent assessment- Prepaid rents, water rents, Sewer rents, FHA mortgage insurance premiums and interest on
encumbrances, if any, and none
shall be apportioned to date of delivery of deed.
No.SC20-10-75. RereiplrudOptionCianimrt(Residential)— Bradford Publishing Co.,1ffiN6Stout Street. Denver.Colorado --5-77
6. The hour and place of closing shall be as designated by Cb urk Vi dal
7. Possession of premises shall be delivered to purchaser on March is t , T 9 JH, . date of T OS 1P.
subject to the following leases or tenancies:
none
. .. .. _ . .. - i
If the seller fails to deliver possession on the date herein specified, the seller shall be subject to eviction and shall be
liable for a daily rental of $ 50.00 until possession is delivered.
8. In the event the premises shall be damaged by fire or other casualty prior to time of closing, in an amount of not
more than ten per cent of the total purchase price, the seller shall be obligated to repair the same before the date herein
provided for delivery of deed. In the event such damage cannot be repaired within said time or if such damage shall
exceed such sum, this contract may be cancelled at option of purchaser- Should the purchaser elect to carry out this
agreement despite such damage, such purchaser shall be entitled to all the credit for the insurance proceeds resulting
from such damage, not exceeding, however, the total purchase price. Should any fixtures or services fail between the
date of this agreement and the date of possession or the date of delivery of deed, whichever shall be earlier, then the
seller shall be responsible for the repair or replacement of such fixtures or services with a unit of similar size, age and
quality or an equivalent credit.
9. Time is of the essence hereof, and if any payment or any other condition hereof is not made, tendered or performed
as herein provided, there shall be the following remedies. In the event a payment or any other condition hereof is not
made, tendered or performed by the purchaser, then this contract shall be null and void and of no effect, and both parties
hereto released from all obligations hereunder, and all payments made hereon shall be retained on behalf of the seller as
liquidated damages. In the event that the seller fails to perform any condition hereof as provided herein, then the
purchaser may, at his election, treat the contract as terminated, and all payments made hereunder shall be returned to
the purchaser: provided, however, that the purchaser may, at his election, treat this contract as being in full force and
effect with the right to an action for specific performance and damages.
10. In the event the seller fails to approve this instrument in writing on or before nerpmher 4 ,19-] ]
19 , or if title is not merchantable and written notice of defects is given to the seller or agent within the time herein
provided for delivery of deed and shall not be rendered merchantable within 30 days after such written notice, then this
contract, at purchaser's option, shall be void and of no effect and each party hereto shall be released from all obligations
hereunder and the payments made hereunder shall be returned forthwith to purchaser upon return of the abstract, if
any, to seller; provided, however, that in lieu of correcting such defects, seller may, within said 30 days, obtain a
commitment for Owner's Title Insurance Policy in the amount of the purchase price showing the title to be free from
such defects and seller shall pay full premium for such Title Insurance Policy.
11. Additonal Provisions: none
12. Upon approval hereof by the seller, this agreement shall become a contract between seller and purchaser and
shall inure to the benefit of the heirs, successors and assigns of said parties.
Agent
Purchase James J. Mollica Dat� Chuck Vidal
By:
Purchaser Date
r approves the above contract this day of , 19 b 8;
�o pay a commission % of the gross sales price ie s ransaction, and agrees that, in the
event of forfeiture of payment ser, such payme sh 11 be dim l�Pd h tween the seller's broker and the
e- alf thereof to said broker, but not to exceed the commission, and the balance to the seller.
r. Seller
Purchaser's Address
300 E. Hyman Ave. Aspen, Colorado 81611
Seller's Address
611 W n Street, Aspen, Colorado 81611
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James I M011h & Associates, lot
Real Estate Appraisers and Consultants Mason B Morse Building • 315 East Hyman Avenue, Suite 209 Aspen, Colorado 81611 0303/925-8987
Aspen, Colorado
December 19, 1977
Mr. William Kane
City of Aspen
Planning Department
130 South Galena Street
Aspen, CO 81611
Re: Request for Subdivision Exemption for Lots K, L, M. N, 0, and P of Block
25, City of Aspen. Colorado.
Mr. Kane:
In accordance with our conversation, this letter is to formally request a
subdivision exemption in accordance with Section 20-19, of Ordinance 22 of
the City of Aspen Municipal Code.
Attached to this letter is my contract to purchase the subject property
along with a survey. The purpose of this subdivision exemption request is
to divide the property into three single family building sites.
The existing structure is occupied by Bill Drueding of the Aspen Police
Department. If subdivision exemption is granted, Mr. Drueding will purchase
Lots 0 and P at a price far below market; Lots M and N will be sold on the
open market; aND Lots K and L will be retained by Mollica.
The subject property is part of the original Aspen Townsite and therefore
meets subdivision design requirements, all utilities, and the proposed sub-
division will not create additional density beyond the existing R-6 zoning.
If further information is needed regarding this matter, please do not hesitate
to call. Thank you for your time and consideration.
Sincerely,
c
J J. Mollica,
JJMsfy
Encl: Contract and survey
James J. Mollica, R.M.
Appraiser -Consultant
0
M E M O R A N D U M
TO: Aspen City Council
FROM: Planning Office, Bill Kane
RE: Drueding Subdivision Exemption
DATE: January 19, 1978
This is a request for Subdivision Exemption to cover the creation of three
separate homesites from six contiguous 3,000 square foot townsite lots
between Fifth and Sixth streets on Hopkins; these are Lots K through P
of Block 25. These lands have been in Shaw ownership and the proposal
here is to convey out Lots 0 and P for an existing house which will be
resided in by Bill Drueding, and at the same time, create two 6,000
square foot single family homesites on the other two lots. The Engineering
Department has recommended that the owner be required to consent and
join in any improvement district f o r t he construction of curbs,
gutter, and sidewalk in the area; and the applicants have agreed to this.
Again, this is part of the City Regulation which requires and defines
the conveyance of contiguously owned multiple townsite lots as a sub-
division activity requires that breaking up or conveyance into separate
homesites be exempted through the full subdivision procedures. As with
the previous item, we are uncertain as to the status of the park
dedication fee at this point; should it still be valid and legal at
Monday's meeting, we recommend that this be paid for the existing resi-
dents and that any park dedication fee required for the new residences
be deferred until time of building permit. With the two conditions,
regarding park dedication fee payment and waiving the right to join
in an improvement district, we recommend approval of this subdivision
exemption. With these two conditions, the Planning and Zoning Commission
gave unanimous approval to the subdivision exemption request at their
meeting of January 17, 1978.
lmk
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M E M O R A N D U M
TO: Aspen Planning and Zoning Commission
FROM: Planning Office (KS)
RE: Subdivision Exemption - Lots K-P, Block 25, Aspen
DATE: January 13, 1978
This request asks subdivision exemption approval for the separation of
these 6 townsite lots into three building sites, each consisting of
6,000 square feet. The property is located on Hopkins Avenue at Sixth
Street. There is an existing structure on Lots 0 and P which are to be
purchased from James Mollica. Mollica intends to sell Lots M and N
on the open market and retain Lots K and L.
The Engineering Department recommends that Lots 0 and P be required to
consent to and join in any improvement district formed for construction
of curbs, gutter, and sidewalk. The other two parcels will be met with
the same requirement at the time of building permit application. Improve-
ments are gradually being made on Hopkins and they wish to see the
trend continue. They recommend subdivision exemption.
The Planning Office has no problem with the request as the three lots
will all meet the minimum lot size of the R-6 district. The exemption
should be conditioned however on payment of the appropriate park dedication
fee.
lmk
December 19, 1977
Mr. William Kane
Subdivision Exemption Lots K, L, M, N, 0, and P of Blk 25, City of Aspen
Page Two
It is my understanding that this Park Dedication fee is to be paid prior
to receiving subdivision exemption and that an additional Park Dedication
fee for Lots K, L, M, and N of Block 25 would be necessary prior to receiving
a building permit for construction of a single family residence.
I trust this information will be helpful in consideration of the subject
proposed subdivision exemption.
Thank you for your time and consideration.
Sincerely,
am J. Mollica
JJM:sfy
Encl: Comparable Sale Chart, Receipt and Option Contract
James 1. Moilica & WOWS. Iff.
Real Estate Appraisers and Consultants
J
CITY OF ASPEN
Sale Block Lot(s)
1 8 M,N,O
2 2 A-E, F-I
with exceptions
3 2 F.G.H.I1
4 15 A-F
5 18 CbD
6 18 EbF
7 Shaw Triangle
8 Shaw Property
(Partially improveda)
9 48 D,E,F,G,H,I
10 56 H b I
Grantor
Paepcke
Paepcke
Erdman
Williams
Lawrence
Lawrence
Shaw
Shaw
Shaw
Saunders
COMPARABLE
SALES CHART
Grantee
Date
Deed Book
Price
Price/Lot
Price/Single Familyb—
Price/
Building Site R-6
SF
Doremus
12/76
321/384
S 75,000
$25,000
$ 75,000
$,8.33j
Erdman
10/75
303/732
150,000
16,667
50,000
6.25
Semple
4/76
311/824
82,400
27,467
82,400
9.15
Troyer
12/76
321/405
170,000
28.333
56,666
9.44
Popell
11/76
320/287
50,000
25,000
50,000
8.33
Teachner
11/76
320/291
50,000
25,000
50,000
8.33
City of Aspen
3/77
N/A
100,000
50,000
approx. 100,000
16.66
WPW
3/77
N/A
500,000
75,000
approx. 100,000
11.35
Starodo]
6/77
330/601
175,000
29,167
58,333
9,72
Christopher
10/77
N/A
83,000
41,500
83,000
13.83
James 1, M0111CA & Associates, Inc.
Real Estate Appraisers and Consultants Mason Et Morse Building • 315 East Hyman Avenue, Suite 209 Aspen, Colorado 81611 •303/925-8987
Aspen, Colorado DATE
December 19, 1977
Mr. William Kane ---
City of Aspen Planning Department _
130 South Galena Street
Aspen, CO 81611
Re: Request for Subdivision Exemption for Lots K, L, M, N, 0, and P of
Block 25, of the City of Aspen, Park Dedication Fee
Mr. Kane:
In accordance with Ordinance #63, Sec. 7-143, Subparagraph A, I am offering
the following valuation parameters to establish a basis for the subject's
Park Dedication fee. According to Subparagraph B of Sec. 7-143, the ordinance
states:
Market value may be substantiated a documented purchase price
(if arm's length transaction, not more than two years old).
Attached to this letter is a receipt and option contract between Mr. Drueding
and myself for the purchase of Lots 0 and P of Block 25, City of Aspen. The
purchase price is $65,000 which includes a two -bedroom dwelling in poor
condition.
This sale price may be considered slightly discounted since it was contracted
for as part of my original purchase of the six lots for a total of $175,000.
Attached to this letter is a comparable sales chart for city lots recently
sold in Aspen's West End. After analyzing these lots, I would feel comfortable
with a land value for Lots 0 and P at say $65,000. If the $65,000 valuation
is accepted by Council, the following interpretation of the formula is considered
applicable:
$65,000 = $10.83/SF
6,000 SF
2.7 (2 bedroom) x .0025 acres x 43,560 x $10.83 = $3,184.34
Indicated Park Dedication Fee for Lots 0 and P of Block 25 = $3,174.34
James J. Mollica, R.M.
Appraiser -Consultant
Vefjit1a mot .t i II(I Aslant City CoIllici 1. .7r(nuai'y 2:3, 1 )713
('Ul;fl l',1 f 1*(1:1 17.;1:•II_r l OW - firuc(i i ncl
13i.11 1;•,n• Lnld Cc.nn,ciI this: i:; ;t re(IW:!St fur :;111-Jivi.::ioil c:xt-mpt-ion for three iit, livid%taI
:;intlat f.uuily huildirt(1 :cite:, 'or 1•,L:; 1: thrrlti,ll, I', blocl: loc.(icd on 11opkir.:
btrtwo(•11 5 awlt W h !;t r,-et-;. T!:( rt' IS r)nr. h(ril:;(• 1:41td. ]'...lilt: ::tatud the Iditi ding (,f f 1cC' full
there w.(r. no purpo:;c srrvcd ) goinq through Lh- unt ire :;ubdivic:iult p1-ocedurc•:;. Thi:;
has hortt rrt rrrt•J'to the (ugi ra•,'• i r,rl ut ties; tit.-• ocrll(:r':; t:•.,i vr:cl If)(-- r.i-(lilt. Lu pr ••'..::t t.Lc
format ion of an Kane .;.,id tl,c• furl: c? •tlicatiun foe does not not:-
a;,pl; to tho e::.iSt.:in'l house; for th,> other two lnis it %All to b(r paid at: the t.imc•
of huildintl p(�rmit.
Counci l;ucuI harry nl0V12d to approve the subdivi:;ion exempt ir)rl wi UI the coil dit.iorIS; :iec•t.,:t_:(•d
by Co•lnci I:t.;,n tli chart .
Councilt•:na•an Johnston ashod about PAR regul:it.inns for Luildinq o❑ the other Lwo luta.
Kano Lold Council t-.hey had finally had approv.-d from I> & % to insti t-ut(.- FARs in the
rosiden!.ial parts of the City. This will h.-)vo to t,e a City code amoncl(r:ent.
All in favor, notion carried.
SU[m]VI SION YNEMPTION - Jenkin•;on
Kane explained thi : i s the sake type of e;:i r:!_ttion regm!rt , splittin•_7 up land i n 11 l t
ownership. This t:ii.l. separate lot. I,, which is 3,000 square feet - a minimum si.• lot..
Kane said it was found that th- Isis, theatre enrroache ; on lots Y. G inches on th%• f ron':
and 3 inches oil the back. This can be remcc!iccd eiLhcr by an easen:r,:tt from Ms.
to the lsiS or coup: go to this, Bo-lyd. of- Adjustm,�nt. Kart(: sai.(.! the i0anning offi-- fcl'
the easer.tent would be better. The FAR is 1.5:1, by right, which could be a buil(lin(i or
4500 square feet. There: arc, no set- back rc ,uire:;tcntS i.0 the CC zone.
Councilman I'ar.ry tnovod to approve tho Subdivision exemption; secon(loo Ly Councill::•aIi Wi_::art.
COunCilvoman Johnston added that t-he appropriate park droication fee <_1hould be Ii:vtl fo!'
the vacant lot. All in favor, motion carried.
PUBLIC 11011S1f:G AUTFORTTY - 111i it is lfeari nq
Mayor Standley opened the public hearing. Jcnifer Carr told Council that this pu!tlic
hearing had been advertised to deter rnu no Whether or not tilers is ncett for a YI!a to
function in the CiLy of. Aspen. 1.17. Carr read a letter Itom, the fire r;arshal st:1S ;II:: t'.' it
unsanitary or unsafe dwellings do exist in the City. Therc are physically inad(:,uate
units. Tht:re is also excessive. cost:; for these units and overe)-o ding. Ms. Ccl:'r
explained that the Council had to (fo through Lhis proses:: again bc,callse it was I,ot
properly documented the first tilue. Mayor Standley closed the public hearing.
Cotutcilman Wishart moved that tho Council havincl found that the basic n_;ed criteria
have not. been met fol housing within the City of Aspen, tho Aspen City Council lh-rork—o
establ.islit_s a ttousi.ng authority; seconded by Councilwoman Johnston. All in favor,
motion carried.
COullCiDIVIIl WiShart roved to read itesoluti.on ;.'2, Series of. .1979; seconded by Cuunci lt-A-Im :t
Johnston. All in favor, motion carried.
RESOI.UTTON ;! 7
(Series of 19711)
1.3E IT k1:SOLVED IiY WE C1'1'Y COLIidC1I. OF TKIR Cs"PY OF A:,111:%, COLORADO:
That a potitiuu Laving been filed with the City Clark ul said City
to twenty-five (25) residoilLs t.hercof, set-tinq forth that there is a nee:
for a llinr.;incl Aulhori.t)- to function lhtrroin, and aI public hearing havinc!
been held, omen dux notice cl.iven by said City Clei k, ,111 pursu.;nt to the
"housing A.ut her i t ies L-1-o" of the State of Colorado, as amended, the CiLy
Council of. said City finds, det:erminrs and doclat(-, that:
1. Lhl.-"knitary and ulisafe inhabited dwolliut.l accommodalioils exist in
the City of. A:,pen, (:oloro,ljo, and
2. 'Phc•re is a lash: of safe ::nd ;allit.al-y dW(-.1linq acconrnadation:: in
the City of Aspen, Colorado, availab.lo for all the inhabitant:,
thvioof, and
3. 1'hrrt is it hood for a 11(mu.ing Authority to function in tho City
of As.ncln. Colorado; and
Recorded 11:17 A.M. February 28, 1978 Julie Hane Recorder
Reception #
CERTIFICATE OF EXEMPTION
FROM THE DEFINITION OF SUBDIVISION
WHEREAS, Harry Shaw, is the owner of a parcel of land located
in Pitkin County, Colorado, described as Lots K, L, M, N, 0, P, Block
25, City of Aspen, Colorado; and
WHEREAS, there is an existing six lots and one single family
residence located on Lots 0 and P of said property; and
WHEREAS, applicant has requested of the City of Aspen an
exemption from the definition of subdivision in order to allow the
existing six lots to be divided into three separately conveyable parcels;
and
WHEREAS, the Aspen Planning and Zoning Commission, at its
meeting held `La yf�_. 7, /9 7W recommended that an
exemption from the deff5ition of a subdivision is appropriate under these
circumstances and recommended that the same be granted,
NOW, THEREFORE, the City Council of Aspen, Colorado, does hereby
determine that the proposed subdivision of the lots located on said prop-
erty is not within the intents and purpose of the subdivision ordinance
of Chapter 20 of the Aspen Municipal Code and does, for such reason,
grant an exemption in accordance with Section 20-19(b) of such Code from
the definition of a subdivision, for the creation of three separate par-
cels, consisting of Lots K and L, Block 25, as one separate parcel, Lots
M and N. Block 25, as another separate parcel and Lots 0 and P. Block 25,
as another separate parcel, and has granted Harry Shaw, his transferees,
successors and assigns the right to convey said parcels separately if
desired;
PROVIDED, HOWEVER, that the foregoing exemption is conditioned
upon the condition that said lots shall pay a Park Dedication fee for
the undeveloped lots (K, L, M, N) at the time a building permit is granted,
if such fee is in effect. Lots 0 and P have an existing structure and
therefore are exempt from any such fee.
FURTHER PROVIDED, that all six lots (three building sites)
agree to join in any improvement district which may be required by the
Aspen Engineering Department.
Dated:
K a r Pro Terd
I, KATHRYN S. HAUTER, do hereby certify that the foregoing
Certificate of Exemption from the Definition of Subdivision was considered
and approve by the Aspen City Council at its regular meeting held
Monday, at which time the Mayor pro Lem,
MICHAEL BEHRENDT, was(2authorized to and did execute the Sam- or. behalf'
of the City of Aspen.
KATHRYN S AUTEB:,: 6��y 'G1erk
STATE OF COLORADO )
ss.
County of Pitkin )
od-
The foregoing was acknowledged before me this day of
1978, by MICHAEL BEHRENDT and KATHRYN S. HAUTER,
personally.known to me to be the Mayor pro ten and City Clerk, respec-
, �;Welyy..,of the City of Aspen.
+'' �� t.`•' /WITNESS my hand and official seal.
M Commission expires:My
—o- Commis,-,, Expires 1an. 24,198?
Notary Public
2.
J
13d
S,
.0
6. The hour and place of closing shall be as designated by--- -Chuck V-id n� 1 —
7. Possession of premises shall be delivered to purchaser on March is t , 19 78 , date of clQz ine
subject to the following leases or tenancies:
none
If the seller fails to deliver possession on the date herein specified, the seller shall be subject to eviction and shall be
liable for a daily rental of $ 90.00 until possession is delivered.
8. In the event the premises shall be damaged by fire or other casualty prior to time of closing, in an amount of not
more than ten per cent of the total purchase price, the seller shall be obligated to repair the same before the date herein
provided for delivery of deed. In the event such damage cannot be repaired within said time or if such damage shall
exceed such sum, this contract may be cancelled at option of purchaser. Should the purchaser elect to carry out this
agreement despite such damage, such purchaser shall be entitled to all the credit for the insurance proceeds resulting
from such damage, not exceeding, however, the total purchase price. Should any fixtures or services fail between the
date of this agreement and the date of possession or the date of delivery of deed, whichever shall be earlier, then the
seller shall be responsible for the repair or replacement of such fixtures or services with a unit of similar size, age and
quality or an equivalent credit.
9. Time is of the essence hereof, and if any payment or any other condition hereof is not made, tendered or performed
as herein provided, there shall be the following remedies. In the event a payment or any other condition hereof is not
made, tendered or performed by the purchaser, then this contract shall be null and void and of no effect, and both parties
hereto released from all obligations hereunder, and all payments made hereon shall be retained on behalf of the seller as
liquidated damages. In the event that the seller fails to perform any condition hereof as provided herein, then the
purchaser may, at his election, treat the contract as terminated, and all payments made hereunder shall be returned to
the purchaser: provided, however, that the purchaser may, at his election, treat this contract as being in full force and
effect with the right to an action for specific performance and damages.
10. In the event the seller fails to approve this instrument in writing on or before nPCemher 9 1977
19 , or if title is not merchantable and written notice of defects is given to the seller or agent within the time herein
provided for delivery of deed and shall not be rendered merchantable within 30 days after such written potice, then this
contract, at purchaser's option, shall be void and of no effect and each party hereto shall be released from all obligations
hereunder and the payments made hereunder shall be returned forthwith to purchaser upon return of the abstract, if
any, to seller; provided, however, that in lieu of correcting such defects, seller may, within said 30 days, obtain a
commitment for Owner's Title Insurance Policy in the amount of the purchase price showink the title to be free from
such defects and seller shall pay full premium for such Title Insurance Policy.
11. Additonal Provisions: none
12. Upon approval hereof by the seller, this agreement shall become a contract between seller and purchaser and
shall inure to the benefit of the heirs, successors and assigns of said parties.
Agent
Purcna e James J. Mollica Dat� Chuck Vidal
By:
Purchaser u�} Date
the above contract this day of
� o pay a commission —
event of forfeiture of
Purchaser's Address
of the dross sales
saction, and agrees that, in the
ween the seller's broker and the
to said broker, but not to exceed the commission, and the balance to the
300 E. Hyman Ave. Aspen, Colorado 81611
Seller's Address _—__ .--
611 W.Main Street, Aspen, Colorado 81611
Ll
•
The printed portion of this form approved by the
Colorado Real Estate Commission (SC 20-10.75)
RECEIPT AND OPTION CONTRACT
(RESIDENTIAL)
December 3, ,19 L7
RECEIVED FROM James J. Mollica and/or nominee
Purchaser (as joint tenants), the sum of $ $ 2 , 000.00 , in the form of Personal Check
to be held by Chuck Vidal , broker, in his escrow or trustee account,
as earnest money and part payment for the following described real estate situate in the City of Aspen
County of P i tkin , Colorado, to wit:
Lots KLMNOP of Block 25, City of Aspen
(see attached exhibit A )
with all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter
provided, in their present condition, ordinary wear and tear excepted, known as No. 616 W. Hopkins Ave.
which property purchaser agrees to buy upon the following terms and conditions, for the purchase price of
179,000.00 , payable as follows: $ 2,000.00 hereby receipted for, $ 00
additional earnest money within 14 days after the acceptance
of this contract; $165,000.00 in cash or certified funds
at closing.
1. If a note and trust deed or mortgage is to be assumed, the purchaser agrees to pay a loan transfer fee not to
exceed $ none and it is a condition of this contract that the purchaser may assume such encum-
brance without change in its terms or conditions except none
2. Price to include any of the following items currently on the premises: Lighting, heating and plumbing fixtures;
all outdoor plants, window and porch shades, venetian blinds, storm windows, storm doors, screens, curtain rods, drap-
ery rods, central air conditioning, ventilating fixtures, attached TV antennas, attached mirrors, linoleum, awnings,
water softener (if owned by seller), fireplace screen and grate, built-in kitchen appliances, wall to wall carpeting
none
all in their present condition, free and clear of all taxes, liens and encumbrances except as provided in paragraph 4;
provided, however, that the following fixtures of a permanent nature are excluded from this sale: none
3.>4Ytersiaa�bceff'#t�2T>c�14nYrp®rt�2,�aFfirkE4e<b�bb:Yi:de�> a current commitment for title insurance policy in an
amount equal to the purchase price, at seller's option and expense, shall be furnished the purchaser on or before
February 19 , 19 7R. If seller elects to furnish said title insurance commitment, seller will
deliver the title insurance policy to purchaser after closing and pay the premium thereon.
4. Title shall be merchantable in the seller. Subject to payment or tender as above provided and compliance with
the other terms and conditions hereunder by purchaser, the seller shall execute and deliver a good and sufficient
_ General warranty deed to said purchaser on March 1st , 19 78,
or, by mutual agreement, at an earlier date, conveying said property free and clear of all taxes, except the general
taxes for 19 78 , payable January 1, 19 79 , and except none
free and clear of all liens for special improvements now installed, whether assessed or not; free and clear of all liens
and encumbrances except easerr)ents for telephone, electricity, water and sanitary sewer, and except *tune
and subject to building and zoning regulations, and restrictive covenants of record. Any encumbrance required to be
paid may be paid from the proceeds of this transaction.
5. General taxes for 19__3-& shall be apportioned to date of delivery of deed based on the most recent levy and the
most recent assessment. Prepaid rents, water rents, ,sewer rents, FHA mortgage insurance premiums and interest on
encumbrances, if any, and none _
shall be apportioned to date of delivery of deed.
No. SC 20-10-75. Receipt and Option Contract (Residential)— Bradford Publishing Co..1824-46 Stout Street, Denver, Colorado —8.77
James I M011h & Associates, Mr.
Real Estate Appraisers and Consultants Mason Et Morse Building • 315 East Hyman Avenue, Suite 209 Aspen, Colorado 81611 0303/925-8987
Aspen, Colorado
January 3, 1978
Mr. William Kane
City of Aspen Planning Department
130 S. Galena St.
Aspen, CO 81611
Re: Request for Subdivision Exemption for Lots K, L, M, N, 0, and P of
Block 25, City of Aspen, CO 81611
Mr. Kane:
In accordance with Ordinance No. 53, Series 1977, I offer the following comments:
1. The subject property is currently improved with one single family residence,
occupied by three tenants, one of which is Mr. William Drueding of the Aspen
police force. Attached to this letter is a contract to purchase Lots 0 and
P along with the existing dwelling by Mr. Drueding in the event the sub-
division exemption is granted. The purchase price is $65,000 and as a pro-
fessional appraiser, I estimate the current market value to be in excess of
$100,000.
2. The remaining four lots, or say, two building sites, are presently vacant
and would cause no tenant displacement and further would not necessitate the
90 day tenant option.
3. I do not feel the 6 month minimum lease requirement should be in effect on the
subject property, however, if council so desires, I would be willing to abide
by this restriction.
4. The subject lots will be developed with two single family residences of high
quality to support the expensive land value. This subdivision will not
reduce the supply of low and moderate income housing, however, I note that
the low cost of Mr. Drueding's property will somewhat accommodate this
housing ordinance requirement.
In summary, this subdivision exemption request will not increase density require-
ments or tenant displacement. Since it is part of the original Aspen Townsite,
this subdivision will only be a "name transfer" in accordance with the existing
R-6 zoning.
If further information is needed regarding this matter, please do not hesitate
to call.
Thank you for your time and consideration.
Sincerely,
am /J)ollica
nc . Drueding contract to purchase
James J. Mollica, R.M.
Appraiser -Consultant
JJM:sfy
C:
•
The printed portion of this form approved by the I
Colorado Real Estate Commission (SC 20-10.76
RECEIPT AND OPTION CONTRACT
(RESIDENTIAL)
December _• ls. 77
RECEIVED FROM William L. Drueding
Purchaser (as joint tenants), the sum of $ 8,000.00 - , in the form of Personal Check _- _
to be held by seller pursuant to paragraph lid -
as earnest money and part payment for the following described real estate situate in the City of Aspen
County of Pitkin , Colorado, to wit:
Lots 0 and P of Block 25, City of Aspen
(see attached Exhibit A)
,A it all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter
provided, in their present condition, ordinary wear and tear excepted, known as No. 616 W. Hopkins _
Avenue
which property purchaser agrees to buy upon the following terms and conditions, for the purchase price of
$ 65,000.00 , payable as follows: $ 8,000.00 hereby receipted for, $ 57,000,00
in the form of a cashier's check or certified funds at closing.
1. If a note and trust deed or mortgage is to be assumed, the purchaser agrees to pay a loan transfer fee not to
exceed $ none and it is a condition of this contract that the purchaser may assume such encum-
brance without change in its terms or conditions except none
2. Price to include any of the following items currently on the premises: Lighting, heating and plumbing fixtures;
all outdoor plants, window and porch shades, venetian blinds, storm windows, storm doors, screens, curtain rods, drap-
ery rods, central air conditioning, ventilating fixtures, attached TV"antennas, attached mirrors, linoleum, awnings,
water softener (if owned by seller), fireplace screen and grate, built-in kitchen appliances, wall to wall carpeting
none
all in their present condition, free and clear of all taxes, liens and encumbrances except as provided in paragraph 4;
provided, however, that the following fixtures of a permanent nature are excluded from this sale:
none
3.aC�gn3a}4SmX]47tbB2fQi]6X� current commitment for title insurance policy in an
amount equal to the purchase price, at seller's x*14WxXX& expense, shall be furnished the purchaser on or before
February 15 ,19 78. If seller elects to furnish said title insurance commitment, seller will
deliver the title insurance policy to purchaser after closing and pay the premium thereon.
4. Title shall be merchantable in the seller. Subject to payment or tender as above provided and compliance with
the other terms and conditions hereunder by purchaser, the seller shall execute and deliver a good and sufficient
general warranty deed to said purchaser on date of closingExhibit -A _
or, by mutual agreement, at an earlier date, conveying said property free and clear of all taxes, except the general
taxes for 19 78 January 1,19 79 , and except none
free and clear of all liens for special improvements now installed, whether assessed or not; free and clear of all liens
and encumbrances except easer7pts for telephone, electricity, water and sanitary sewer, and except none
and subject to building and zoning regulations, and restrictive covenants of record. Any encumbrance required to be
paid may be paid from the proceeds of this transaction.
6. General taxes for 19--M shall be apportioned to date of delivery of deed based on the most recent levy and the
most recent assessment. Prepaid rents, water rents,,sewer rents, FHA mortgage, insurance premiums and interest on
encumbrances, if any, and none
shall be apportioned to date of delivery of deed.
No. SC 20-10-75. Receipt and Option Contract 4Residenliall— Bradford Publishing Co.,1624-46 Stout Street, ]Denver. Colorado —8-77
6. The hour and place of closing shall be as designated by
7. Possession of premises shall be d+eUveredto purchaser on
;f subject to the following leases or tenancies:
None
Chuck Vidal
date of closing Exhibit A.
...o-t�l« Cii- ..._.fir "n •..�ti .. . _1_ L. 1... .. .. t
If the seller fails to deliver possession on the date herein specified, the seller shall be subject to eviction and shall be
liable for a daily rental of $ none until possession is delivered.
S. In the event the premises shall be damaged by fire or other casualty prior to time of closing, in an amount of not
more than ten per cent of the total purchase price, the seller shall be obligated to repair the same before the date herein
provided for delivery of deed. In the event such damage cannot be repaired within said time or if such damage shall
exceed such sum, this contract may be cancelled at option of purchaser. Should the purchaser elect to carry out this
agreement despite such damage, such purchaser shall be entitled to all the credit for the insurance proceeds resulting
from such damage, not exceeding, however, the total purchase price. Should any fixtures or services fail between the
date of this agreement and the date of possession or the date of delivery of deed, whichever shall be earlier, then the
seller shall be responsible for the repair or replacement of such fixtures or services with a unit of similar size, age and
quality or an equivalent credit.
9. Time is of the essence hereof, and if any payment or any other condition hereof is not made, tendered or performed
as herein provided, there shall be the following remedies. In the event a payment or any other condition hereof is not
made, tendered or performed by the purchaser, then this contract shall be null and void and of no effect, and both parties
hereto released from all obligations hereunder, and all payments made hereon shall be retained on behalf of the seller as
liquidated damages. In the event that the seller fails to perform any condition hereof as provided herein, then the
purchaser may, at his election, treat the contract as terminated, and all payments made hereunder shall be returned to
the purchaser: provided, however, that the purchaser may, at his election, treat this contract as being in full force and
effect with the right to an action for specific performance and damages.
10. In the event the seller fails to approve this instrument in writing on or before December 25,
19 7 7 , or if title is not merchantable and written notice of defects is given to the seller or agent within the time herein
provided for delivery of deed and shall not be rendered merchantable within 30 days after such written notice, then this
contract, at purchaser's option, shall be void and of no effect and each party hereto shall be released from all obligations
hereunder and the payments made hereunder shall be returned forthwith to purchaser upon return of the abstract, if
any, to seller; provided, however, that in lieu of correcting such defects, seller may, within said 30 days, obtain a
commitment for Owner's Title Insurance Policy in the amount of the purchase price showink the title to be free from
such defects and seller shall pay full premium for such Title Insurance Policy.
11. Add itonal Provisions: This contract is contingent upon the following:
a. Execution and closing of the attached Exhibit A, Contract between Harry Sh,
James J. Mollica
b. Subdivision exemption from the City of Aspen on or before February 15, 1978•
c. Purchaser receiving a loan committment from the Bank of Aspen by February
15, 1978.
12. Upon approval hereof by the seller, this agreement shall become a contract between seller and purchaser and
shall inure to the benefit of the heirs, successors and assigns of said parties.
o�C,
Agent
Purchaser William L. Druedijg Date
Purchaser
Date
By:
•rs, t•t•vett�oe •• • r'• o' rL: :�..►s 'H. �aaa.'P:.o •ar a: t•on� ••r: �.:. a• r.►y.v r• •u a e.•c
•fit• 'V t7 •!• •I V� N 'V` 'l• '�. V •O•d' )•W r� /: .. .. .:►�.• •o .. .lr.:: ;l'' •�� . .:L. ��, q r.. :� . ,,.
Jam ca
Seiler Seller
L
Purchaser's Address 616 W. Hopkins Avenue, Aspen, Colorado
300 E. Hyman Avenue, Aspen, Colorado
Seller's Address -- - — --- - - - - - -- -
d. It is understood that the purchaser's $8,000.00 earnest money will be used
as earnest money for the ler's contract attached as E it A.
e. This contract is t assignable or transferable purchaser.
ME140
TO: KAREN STANFORD
PLANNING
FROM: TOM JONES J�_
ENGINEERING
DATE: January 11, 19f 8
RE: Exemption Request
Lots K-P, Block 25, O,A.T.
We recommend that Lots 0 and P be required to consent
to and join in any improvement district formed for
construction of curb, gutter, and sidewalk. This will
be required of the other two parcels whenever a build-;
ing permit is requested, Curb, gutter and sidewalk is
slowly going in along Hopkins and we would like to see
this trend continue. Approval of this request is recom-
mended.
jk
I,
r
„�•,. CITY OF ASPEN
CUSTOMER
FINANCE DEPARTMENT
CASHIER'S RECEIPT
1 01-111
LICENSES & PERMITS 01-111 FINES & FORFEITS
511
❑
BUSINESS LICENSES 561 ❑ COURT FINES
512
❑
SALES TAX LICENSES 562 ❑ COURT BONDS - FORFEIT
513
Cl
BEER - WINE - LIQUOR LICENSES 563-01 ❑ TOWING FINES - IMPOUND
514
❑
CONTRACTOR'S LICENSES 563-02 ❑ TOWING FINES - NOT IMPOUND
516
❑
LIQUOR LICENSE APPLICATION 564 ❑ TRAFFIC FINES
517
❑
DOG LICENSE 566 ❑ FALSE ALARM FINES
518
❑
CENTRAL ALARM LICENSE 568 ❑ DOG IMPOUND FINES
�!
519
❑
BICYCLE LICENSES 569 ❑ OTHER FINES &FORFEITS
• 520
❑
EXCAVATION PERMITS
521
❑
CONSTRUCTION PERMITS 01-111 OTHER MISC. REVENUES
• 522
❑
ELECTRICAL PERMITS 579 ❑ MAPS, CODES, ZONING REGS.
523
❑
PLUMBING PERMITS 589 ❑ OTHERS (DESCRIBE)
524
❑
HEATING PERMITS
525
❑
SEPTIC TANK PERMITS 01-988-632-03 ❑ XEROXING (DESCRIBE)
❑ OTHER - ACCT. NO.
DESCRIPTION:
(NAME, NUMBER, ETC.):
i
CASHIER VALIDATION -.
RECEIVED FROM ✓�
CITY OF ASPEN
MEMO FROM KAREN SMITH 12-21-77
Dave,
Please find attached two requests from the definition
of subdivision. One is for Marjorie Jenkinson and
the other is for Bill Druedin . Descriptions of the
property are also attached. We are tentatively
scheduling both of them for the P&Z meeting of January
17th. May we have any comments that you may have
before the 17th.
Thank you.
Karen
• FEE SCHEDULE •
(Subdivision, Exemption from Subdivision, Rezoning, Park Dedication)
Name of Project: Bill Drueding, Subdivision Exemption
Address: Lots K, L, M, N, 0, and P of Block 25
Applicant's Name: Jim Mollica
Phone: 925-8987
Applicant's Address: Mason and Morese Building, 315 East Hyman Avenue, Suite 209,
Aspen
FOR ZONES WHICH ARE R-15, R-30, R-40, RR and CONSERVATION the Subdivision Fee
Formula is as follows:
Conceptual $100 + $5.00/dwelling unit
t
Preliminary $22.00/dwelling unit
Final $3.00/dwelling unit
FOR ALL OTHER ZONES the Subdivision Fee Formula is as follows:
Conceptual $100 + $60.00/acre of land
Preliminary $280.00/acre of land
Final $35.00/acre of land
EXEMPTION FROM THE DEFINITION OF SUBDIVISION FEE: $50.00
REZONING APPLICATION FEE: $125.00 (once a year)
PARK DEDICATION FEE SCHEDULE
rl: co::) or rTk`,1CC1"5:r.ta I(: t.t>>,s
current market value of a percentage of ttte
land proposed as the development site, the
percentage of the land bcinq determined at the
rate of two and one -!calf (2'2) acres for every
one thousand (1,000) residents of tile proposed
developmcnt•(that is, the number of residents
multiplied by twenty-five ten thousandths
(.0025) of an acre per resident). The number
of residents attributable to the development
shall be calculated in the following manner:
Type of Dwelling Number of Residents
Per Dwelling Unit
liulti-Family
studio 1.0
one bedroom 1.3
two bedreom 2.7
three bedroom 4.0
and 1.3 for each additional bedroom
Single Family or Duplex
one bedroom 1.3
two bedre= 2.7
three bcd_ocm 4.0
and 1.3 for each additional bedroom
A duplex structure shall constitute two dwelling
units for the ourpones of this subsection.
(3) An ex.rcole of the application of the above
formula is as follows, aseumin.g the construction
of one single family residence containing two
bedroom., on a lot containing 15,000 n.;uare feet
with a market value of $65,000.00 (or $4.33 per
square foot):
2.7 (2 b,•.iroom = 2.7 re.nidents) x 0.0025 acres
x 43.560 (square feet per .cre) x $4.33 (mar-
ket value of land leer syuarr 100t) _ ;,1,273.15
(b) Vniriprovvd land shill be apprained at the
current r:.,:i:rt v.iluo of the ::ite in:ludin,: it:: value
att, , t,:t,1r to cult+, Mat trrs, sta., rt, :,i••a.,lk
and ul '
iltt., ;£ in!•t..1I lod rn the c',t, nt p, 1:1,1t
Seni.ui. c. Irit•rc•v, L,n.!,: :,h.:l l la• ;• r.,tec.i c„ . old.n,-•
to th,•it 111gII •:.t an,l b,':.t. u:.r tal.tnq into c,a,r.ldl .ra-
tion s cxitinstrrt q u.ur,•s r whether or not they :,c
conformin,). M.0 kct va1u,• 111.1y hu t:cb :tart ialc,l by
I
documented purchaa.v price (if an aim's length
tt an:..,rt inn not t,,,,t, than two yc.n s old) u: by .,ny
other rccognizrd gran::; rovidod that assessed
valuation .hall not be sclied on as evi,trnre of
current m•11ket values. In the event the city and