HomeMy WebLinkAboutLanduse Case.CO.520 E Hyman Ave.A56-88Pitkin Center Building Condo-
miniumization 2737-182-15-005 56A-88
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CASELOAD SUMMARY SHEET
City of Aspen
DATE RECEIVED: 9/30/88
DATE COMPLETE:
PARCEL ID AND CASE NO.
2737-182-15-005 56A-88
STAFF MEMBER: C `^
PROJECT NAME: Pitkin Center Building Condominiumization
Project Address: 520 East Hyman
Legal Address: Lots 2 & 3 Pitkin Center Subdivision
APPLICANT: Greg Kayne
Applicant Address: 315 S. Galena
REPRESENTATIVE: Same
Representative Address/Phone: 5-1730
PAID: YES NO AMOUNT: $760.00
TYPE OF APPLICATION: 1 STEP:_ 2 STEP:
P&Z Meeting Date PUBLIC HEARING: YES NO
VESTED RIGHTS: YES NO
CC Meeting Date PUBLIC HEARING: YES NO
VESTED RIGHTS: YES NO
Planning Director Approval: Paid:
Insubstantial Amendment or Exemption: Date:
Mtn. Bell
School District
REFERRALS:
%< City Attorney
1( City Engineer
Parks Dept.
Rocky Mtn Nat Gas
Housing Dir.
Holy Cross
State Hwy Dept(GW)
Aspen Water
Fire Marshall
State Hwy Dept(GJ)
City Electric
Roaring Fork
Building Inspector
Envir. Hlth.
Roaring Fork
Other
Aspen Consol.
Energy Center
S.D.
DATE REFERRED: l Q l 11 �Q<� INITIALS:
FINAL ROUTING: DATE ROUTED: INITIAL:
City Atty City Engineer Zoning Env. Health
Housing Other:
FILE STATUS AND LOCATION:
#34740/12/92 14:45 Rec $1CG.(-)406e5 PG 959
F'."ilvia Davis, Pitkin Cnty Clerk, Doc
Recorded at
Reception No.
o'clock M.
Recorder
RECORDING REQUESTED BY:
WHEN RECORDED RETURN TO`:
Douglas P. Allen, Esq.
600 East Hopkins, Suite 302
Aspen, Colorado 81611
SUBDIVISION EXEMPTION AGREEMENT
FOR
PITKIN CENTER CONDOMINIUMS
WHEREAS, Pitkin Center Ltd. ("Applicant") is the owner of a
parcel of real property in the City of Aspen, Pitkin County,
Colorado, described as follows:
Lots 2 and 3, Pitkin Center Subdivision (a lot split) as shown
on the Plat thereof recorded February 22, 1983, in Plat Book
14 at Page 36, County of Pitkin, State of Colorado
and
WHEREAS, the foregoing real property contains one three-story
building; and
WHEREAS, Applicant requested a subdivision exemption for
condominiumization of the existing building on the subject
property to be known as Pitkin Center Condominiums; and
WHEREAS, Units E-1, E-2, E-3, and E-4 are restricted to
employee use pursuant to the terms of Occupancy And Rental Resale
Deed Restriction And Agreement recorded in Book 553 at Page 249 in
the office of the Clerk and Recorder of Pitkin County, Colorado,
Units B-1, B-2, 1-A, 1-B, 1-C, P-1, P-2, 2-A, and 2-B are used for
commercial business purposes and Units 3-A and 3-B are used for
free market residential purposes;
WHEREAS, Applicant has paid $6,025.00 for the affordable
housing fee in 1989; and
WHEREAS, the City Council determined at its regular meeting
held on November 14, 1988, that such exemption was appropriate and
granted the same, subject, however, to certain conditions as set
forth below.
NOW, THEREFORE, Pitkin Center Ltd. and the City of Aspen agree
as follows:
(1) Applicant shall record with the Pitkin County Clerk &
Recorder contemporaneously herewith, that certain "Condominium
# 4 >8/12/92 14:45 Fec $10." 695 PG 960
:l.a avis, Pitkin Cnty Clerk:, Doc
Declaration" for Pitkin Center Condominiums dated July
1992, attached hereto,
(2) Applicant shall comply with the restrictions as contained
in the Condominium Declaration;
(3) At the time of initial marketing of individual employee
units, Applicant shall provide all existing tenants in the
units an unassignable option to purchase their unit at the
offering pricer. Notice of said offering price as verified by
the Aspen/Pitkin County Housing Authority, or its successors
shall be given in writing to each tenant and each tenant shall
have ninety days in which to purchase their unit at said
price, with a copy of said notice addressed to the housing
authority. This option shall not apply in the event employee
units are offered either for sale as a group or together with
commercial space in the building;
(4) The Applicant shall join any future improvement district
which may be formed for the area in which the property is
located;
(5) This Agreement shall bind the successors and assigns of
the respective parties hereto.
Dated this 4,1� day of July, 1992.
PITKIN CENTER, LTD.
Y
ames Valerib
General Partner
APPROVED: ry/A
Edward M. Caswall, City Attorney
John/S. Bennett, Mayor
I, Kathryn S. :Koch, do certify that the foregoing Statement of
Subdivision Exemption for condominiumization of Pitkin Center
Condominiums was considered and approved by the Aspen City Council
at its regular meeting held November 14, 1988, at which time the
Mayor was authorized to execute the same on behalf of the City of
Aspen.
Kathryn Koch, City Clerk
MI\269.07312
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NOTICE According to Colorado law you must commence any legal achorn
based upon any defect in this survey within six years after you first discover
such defect. I n no event may any action based upon any defect in this survey
be commenced more than ten years from the date of the certification shown
hereon
Adak Ak
Surveyed C, 22a8 -5.t4. Revisions Title i�FKDVEMF�rF �utz�/t�( Job No 68 -'Il
Alpine Surveys, Inc. Drafted % • 28.8£3 D. fZ. Client MAKTiN
Post Office Box 1730 LOTS 2 & 3
Aspen, Colorado681612 • • • • PITKIN CENTIM SUB&VISION
• • • G(T l OF GOLOK^IDO
09
•s
EXHIBIT A
(Attached to Condominium Declaration for
Pitkin Center Condominiums)
Schedule of Unit Owner's percentage of ownership interest ("Allocated Interest") in the Pitkin
Center Condominiums is as follows:
Unit Numbers
Percentage Ownership Interest
B1
7.82
B2
8.54
P1
2.73
P2
2.68
IA
7.62
113
7.24
1 C
6.25
2A
5.17
2B
17.98
3A
9.77
3B
12.48
El
2.93
E2
2.93
E3
2.93
E4
2.93
TOTAL
100•00
-29-
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MEMORANDUM
TO: Aspen City Council
THRU: Robert S. Anderson, Jr., City Manager
FROM: Cindy Houben, Planning Office
RE: Consent Agenda-Pitkin Center Building/
Condominiumization
DATE: November 14, 1988
SUMMARY: The Planning Office recommends approval of the
condominiumization of the Pitkin Center as a consent agenda item,
with conditions of approval as listed below in the recommended
motion section.
REQUEST: To condominiumize the Pitkin Center Building.
APPLICANTS: Pitkin Center, LTD
LOCATION: 520 East Hyman: Lots 2 and 3, Pitkin Center
Subdivision.
ZONING: CC, Commercial Core
DESCRIPTION OF THE PROPOSAL: The applicants wish to
condominiumize the existing Pitkin Center structure. The
building includes the following mixed uses: Commercial (retail),
Office, residential (4 employee units and 1 free market
penthouse).
REFERRAL COMMENTS:
Engineering: In a memorandum from Elyse Elliott of the
Engineering Department, she notes that the Engineering Dept. does
not have any concerns regarding the condominiumization of the
Pitkin Center.
The Planning Office and Engineering Dept. would like to
supplement this memorandum with some additional standard items.
The applicant should be willing to join in any improvement
districts formed for the area and the applicants shall submit a
Plat which meets all plating requirements for condominiumization.
This plat should be submitted to the Engineering Dept. for review
and then recorded with the Clerk and Recorder.
STAFF COMMENTS:
Section 7-1008 of the Land Use Code provides the standards for
so
condominiumization. Platting requirements are the only
requirement for the condominiumization of commercial space. There
are standards, however, for the condominiumization of residential
space in the Pitkin Center. The applicant has addressed these
standards as follows:
a. Purchase Rights of Existing Tenants:
The applicants have committed that at the time of initial
marketing, they will provide all existing tenants with a 90
day, non assignable option to purchase their unit at the
preliminary market value.
b. Minimum Lease Allowed:
In discussions with the applicants, it has been decided that
they will no longer request a waiver from the 6 month
minimum lease restrictions for the free market penthouse
unit. The applicants agree that the 4 employee units will
continue to be restricted by the Housing Authority
guidelines.
C. Affordable Housing Impact Fee:
The applicants agree to pay the affordable housing impact
fee for the 2 bedroom, free market penthouse. This $6,025
is to be paid at the time the applicants file a condominium
plat. There is no affordable housing impact fee required
for the 4 deed restricted employee units.
RECOMMENDATION:
The Planning Office recommends approval with the conditions as
outlined in the recommended motion.
RECOMMENDED MOTION:
"I move to approve the condominiumization of the Pitkin Center
Building with the following conditions of approval:
1. The applicants shall submit a plat to the Engineering
Department which meets all code requirements for a
Condominium Plat. This plat shall be recorded in the
Clerk and Recorder's office.
2. The applicants shall agree to join any future
improvements district which may be formed for the area
in which the Pitkin Center is located.
3. The applicants shall pay $6,025.00 for the Affordable
Housing Fee at the time of recordation of the
Condominium Plat." -
2
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CITY MANAGER COMMENTS:
ch.pitcenter
e
ATTACIVIENT 1
USE APPLICATION F1Cffd4
1)
project Name Pitkin Center
Building condomi ni „mi ration
2)
Pro] ect ILXMti0n 520 F a^
t Hy -man, A-c;p P n
Lots 2 and 3, Pitkin
Center Subdivision, Pitkin County, Colorado
(irxiicate street address,
lot & bloc3c rnm�ber, legal description where
appropriate)
3)
Pruett Zoning CC
4) Lot Size 6, 0 0 0 Sq . Ft .
5)
Applicant's Name, Address
& Phone # Greg Kayne, 315 South Galena
Aspen, CO 81611
303 925-1730
6)
Representative I s Name, Address
& Phone # Gr e a K a ne 315 South Galena
Aspen, CO 81611925-1730
7)
Type of Application (please check all that apply) :
Conditional Use
Cmiceptual. SPA Conceptual Historic Dev.
Special Review
Final SPA Final Historic Dev.
8040 Greenline
Conceptual PM Minor Historic Dev.
Stream Margin
Final PUD Historic Demolition
Mountain View Plane
Subdivision Historic Designation
Adortdcminitmri
zaticn
Text/Map Amendment GM.2S Allotment
Int Split/Iat Line
CK�S cn
Adjustment
8)
Description of Existing st- i
n Uses (timber and type of eyasti ng structures;
any appals granter to the
approximate sq. ft. ; nmmber
of bedrooms; previous
PAY) .
1 Structure, 12,000
Sq Ft , mix of Commercial Office, Resider ial
and Employee Housing
Granted GMP allocation in 1986
9)
Desc:ripticn of Development Application i
_ - --' . -- _r-_....4-..-- h,,. 1r7i
10) Have you attached the followirW-
Response to Attachment 2, Minimum fission Omtents
Response to Attachment ent 3, Specific Suomi pion Oontents
Rye to Attachment 4, Review Standards for Your Application
rij
Greg Kayne
September 27, 1988
Cindy Houben
City of Aspen Planning Department
130 South Galena
Aspen, CO 8 1611
Dear Cindy,
As a contract Purchaser of the Pitkin Center Building, I will be
representing the partnership in the condominiumization of the building.
Addressing Attachment 2, Paroaraphs 1-5.
Paragraph 1:
The individuals involved in the partnership are:
James Volerio
100 Drakes Landing Road, Suite 245
Greenbrae, CA 94904
(415) 461-8800
H. M. Loud
700 (North Woodward
Birmingham, MI 48011
(313) 646-8700
David Livingston
1003 Parchment Drive South East
Grand Rapids, MI 49506
(616) 942-4222
Greg Kayne
315 South Galena
Aspen, CO 81611
925-1730
' to so
Paragraph 2:
The legal description is, Lots 2 & 3, Pitkin Center Subdivision, Pitkin
County, Colorado.
The subject property is located at 520 East Hyman, Aspen, Colorado.
Paragraph 3:
Enclosed is a copy of the Title Insurance Commitment and a letter from
the current owners authorizing our application for condominiumization.
Paragraph 4:
Enclosed is a 8 1/2" X 11" vicinity map with the subject property located
within the City of Aspen.
Paragraph 5:
Enclosed are all appropriate and pertinent items requested on Attachments
3 and 4, of the Condominiumization application package.
I personally will be handling this matter and all correspondence should be
directed to me.
Sincerely,
Greg Kayne
(2)
so N
Greg Kayne
September 27, 1988
Cindy Houben
City of Aspen Planning Department
130 South Galena
Aspen, CO 8 1611
RE: Pitkin Center Building Condominiumization
Dear Cindy,
Addressing Attachment "3, Paragraphs 1-2.
Paragraph 1:
Improvement survey enclosed.
Paragraph 2:
Section a:
At time of initial marketing, we will provide all existing residential
tenants with a ninety -day, nonassignable option to purchase their unit at
the preliminary market value. In addition, at the time of recording the
Condominium Plat, we will record a ninety day exclusive right of first
refusal, for the existing residential tenants to purchase thier unit in the
event that a bona fide offer to purchase is accepted by the owners.
Section b:
Regarding the four employee housing units, we will fully comply with the
minimum six month lease requirement. Regarding the top floor two
residentail units, we believe that those units are exempt from the
minimum six month lease restriction because we comply with all items
on Attachment 4, Paragraph 1-b-2, (a) through (d). Please see the
following:
Addressing Attachment 4, Paragraph 1-b-2:
Section a: Most other residential units in the downtown area are either,
not rental restricted or fully deed restricted employee housing. The
following is a summary of the housing in the immediate neighborhood:
NAME
LOCATION
"OF UNITS USE
Independence Square
1.5 blocks South
33
Hotel
Aspenhof
1 block South
8
Short/long term
Aspenblock
.5 block SW
8
Long/short-term
allowed
Aspen Square
1.5 blocks SW
105
Condo/Hotel
Chateau Aspen
1 block South
22
Short-term
700 E. Hyman
3 blocks East
6
Second home/no R.R.
Pitkin Center
on site
4
Emp. Housing
City Plaza
.5 block North
4
Emp. Housing
Section b: The current owners of the building, have been using the
residential unit on a part-time basis and renting the unit during peak
short-term rental periods.
Section c: The building is in the Commercial Core, 1/2 block from the
Hyman Avenue Mall, 2.5 blocks from Ruby Park and 3 blocks from the base
of Aspen Mountain.
Section d. The Aspen Area Comprehensive Plan designates the Central
Area "To allow the primary use of land for tourist commercial activity
that is essential to the community's economic activity."
Addressing Attachment 3, Section c:
We feel that the condominiumization will not have any impact on
affordable housing, because the free market residential units are currently
used by the owners and are not part of the local housing market.
Sincerely,
Greg Kayne
(2)
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-ye rsTtle
Iniuimiffance Corporafion
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
1. Effective date: 07/25/88 AT 8:00 A.M.
Case No. PCT-1812 C3
2. Policy or policies to be issued:
(a)ALTA Owner's Policy -Form B-1970 Amount $ 2,700,000.00
(Rev. 10-17-70 & 10-17-84) or 10/21/87 Premium $ 1,747.25
PROPOSED INSURED: JAMES VALERIO AND H.M. LOUD
(b)ALTA Loan Policy,
(REV. 10-17-70 & 10-17-84) or 10/21/87
PROPOSED INSURED:
TO BE DETERMINED
(c)Alta Loan Construction Policy, 1975
(Rev. 10-17-84)
PROPOSED INSURED:
Amount $ 2,160,000.00
Premium $ TBD
Amount $
Premium $
Tax Cert. $ 5.00
3. Title to the FEE SIMPLE estate or interest in the land described or
referred to in this Commitment is at the effective date hereof vested
in.
PITKIN CENTER JOINT VENTURE, A JOINT VENTURE
4. The land referred to in this Commitment is described as follows:
LOTS 2 AND 3, PITKIN CENTER SUBDIVISION (A LOT SPLIT), as shown on
the Plat thereof, recorded February 22, 1983 in Plat Book 14 at Page
36. COUNTY OF PITKIN, STATE OF COLORADO.
Countersigned at: PITKIN COUNTY TITLE, INC. Schedule A-PG.1
601 E. HOPKINS This Commitment is invalid
ASPEN, CO. 81611 unless the Insuring
303-925-1766 Provisions and Schedules
A and B are attached.
Aut
or agent
orm 100 Litho in U.S.A.
35-0-100-0041 /2
JILuy ersTde
nce Crporation
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B-SECTION 1
REQUIREMENTS
The following are the requirements to be complied with:
ITEM (a) Payment to or for the account of the grantors or mortgagors
of the full consideration for the estate or interest to be insured.
ITEM (b) Proper instrument(s) creating the estate or interest to be
Insured must be executed and duly filed for record to -wit:
1. Release by the Public Trustee of;
Deed of Trust from :PITKIN CENTER JOINT VENTURE, A TEXAS
JOINT VENTURE
To the Public Trustee of the County of Pitkin
For the use of :ASPEN SAVINGS AND LOAN ASSOCIATION
To Secure :$115,000.00
Dated :DECEMBER 10, 1987
Recorded :DECEMBER 11, 1987 IN BOOK 552 AT PAGE 804
Reception No. :295693
2. Release by the Public Trustee of the,
Deed of Trust from PITKIN CENTER JOINT VENTURE, A TEXAS
JOINT VENTURE
To the Public Trustee of the County of Pitkin
For the use of : ASPEN SAVINGS AND LOAN ASSOCIATION
To secure : $1,725,000.00
Dated : DECEMBER 10, 1987
Recorded : DECEMBER 11, 1987 IN BOOK 552 AT PAGE 771
Reception : 295691
3. Deed from :PITKIN CENTER JOINT VENTURE, A JOINT VENTURE
To :JAMES VALERIO AND H.M. LOUD
NOTE: If the proposed insured hereunder is other than James Valerio
and H.M. Loud, Pitkin County Title, Inc., must be notified
and additional requirements and/or exceptions may be added.
4. Certificate of Nonforeign Status of Transferor signed by an Officer
of PITKIN CENTER JOINT VENTURE.
5. Evidence Satisfactory to the Company that the Real Estate Transfer
Tax as established by Ordinance No. 20 (Series of 1979) has been
paid or exempted.
6. Deed of Trust from : James Valerio and H.M. Loud
to the Public Trustee of the County of Pitkin
for the use of : Parties to be determined
to secure : $2,160,000.00
NOTE: The Company hereby reserves the right to make additional
requirements and/or exceptions as deemed necessary upon naming of a
proposed insured as lender.
This commitment is invalid unless Schedule B-Section 1 PG.1
the Insuring Provisions and Schedules Commitment No. PCT-1812 C3
=orm 100 Litho in U.S A.
735-0-100-0041/2
L4awyerSTfle
insurance corporation
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B-SECTION 2
EXCEPTIONS
The policy or policies to be issued will contain exceptions to the
following unless the same are disposed of to the satisfaction of the
Company:
1. Rights or claims of parties in possession not shown by the public
records.
2. Easements, or claims of easements, not shown by the public records.
3. Discrepancies, conflicts in boundary lines, shortage in area,
encroachments, and any facts which a correct 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. Defects, liens, encumbrances, adverse claims or other matters, if
any, created, first appearing in the public records or attaching
subsequent to the effective date hereof but prior to the date the
proposed insured acquires of record for value the estate or interest
or mortgage thereon covered by this Commitment.
6. Taxes due and payable; and any tax, special assessments, charge or
lien imposed for water or sewer service, or for any other special
taxing district.
7. Reservations and exceptions as contained in Deeds from The City Of
Aspen, recorded in Book 59 at Page 56, in Book 59 at Page 157, and
in Book 157 at Page 212 as follows:
"Provided, that no title shall be hereby acquired to any mine of
gold, silver, cinnabar or copper or to any valid mining claim or
possession held under existing laws".
8. Easements and Rights of Way as shown on the Plat of Pitkin Center
Subdivision (A Lot Split), recorded February 22, 1983 in Plat Book
14 at Page 36.
9. Building Encroachment as shown on the Plat of Pitkin Center
Subdivision (A Lot Split), recorded February 22, 1983 in Plat Book
14 at Page 36.
10. Terms, conditions, obligations and provisions of Statement of
Exception from the Full Subdivision Process, recorded February 22,
1983 in Book 440 at Page 863.
11. Terms, conditions, obligations and provisions of Occupancy and
Rental Resale Deed Restriction and Agreement as set forth in
instrument recorded December 17, 1987 in Book 553 at Page 249.
This commitment is invalid unless Schedule B-Section 2 PG.1
the Insuring Provisions and Schedules Commitment No.PCT-1812 C3
A and B are attached.
=orm 100 Litho in U.S.A
)35-0-100-0041/2
14a rsTe
Insurance Corporation
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B-SECTION 2
CONTINUED
Exceptions numbered NONE are hereby omitted.
The Owner's Policy to be issued, if any, shall contain the following
items in addition to the ones set forth above:
(1) The Deed of Trust, if any, required under Schedule B-Section 1.
(2) Unpatented mining claims; reservations or exceptions in patents
or in Acts authorizing issuance thereof; water rights, claims or
title to water.
This commitment is invalid unless
the Insuring Provisions and Schedules
A and B are attached.
Schedule B-Section 2
Commitment No.PCT-1812 C3
orm 100 Litho in U.S A.
35-0-100-0041 /2
W�
La4tu) ilde
Insurance Corooration
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
COMMITMENT FOR TITLE INSURANCE
LAWYERS TITLE INSURANCE CORPORATION, a Virginia corporation, herein called the Company, for valuable
consideration, hereby commits to issue its policy or policies of title Insurance, as identified in Schedule A, in favor of the
proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land
described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions
of Schedules A and B and to the Conditions and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or
policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this
Commitment or by subsequent endorsement.
This Comrnitment is preliminary to the issuance of such policy or policies of title insurance and all liability and
obligations hereunder shall cease and terminate six (6) months after the effective date hereof or when the policy or
policies committed for shall issue, whichever first occurs, provided that the failure to Issue such policy or policies is not the
fault of the Company. This Commitment shall not be valid or binding until countersigned by an authorized officer or agent.
IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed, to become valid when
countersigned by an authorized officer or agent of the Company, all in accordance with its By -Laws. This Commitment is
effective as of the date shown in Schedule A as "Effective Date."
CONDITIONS AND STIPULATIONS
1. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument.
If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other
matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in
Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved
from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced
by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if
the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other
matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall
not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and
Stipulations.
Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties
included under the definition of Insured in the form of policy or policies committed for and only for actual loss
incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate
exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this
Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions and the Conditions and Stipulations and the
Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are
hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein.
Any action or actions or rights of action that the proposed Insured may have or may bring against the Company
arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this
Commitment must be based on and are subject to the provisions of this Commitment.
Lapylers 11de jnsu a Cqr ffatton
JtA) U (vW�/l � • w��6�
`� President
Attest:
S I- ._X I
' Secretary.
so N
Aug. 23, 1988
Mr. Greg Kayne
Ute City Brokers
Aspen, CO 81611
Dear Greg:
i r � � i► ;I � � � �i
HAND DELIVERED
This is a statement of our consent that your
clients, Messers. Valerio and Loud, be able to
pursue condominiumization of the Pitkin Center
Building at 520 E. Hyman. We have mutually
agreed upon a contract whereby they will purchase
the building from us, and they have our permission
to do everything necessary to condominiumize the
property during this "contract" period except the
filing of the Condominium Map.
Sincerely,
;Jim Martin
4Pitkin Center Joint Venture
(303)925-8310 9 215 S. Monarch 0 P.O. Box 10502 0 Aspen, Colorado 81611
so
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MEMORANDUM
To: Cindy Houben, Planner
From: Elyse Elliott, Engineer'
Date: October 28, 1988
Re: Pitkin Center Building Condominiumization
After reviewing the above application and making a site
inspection, the Engineering Department has no problems with the
condominiumization of this building.
MEMORANDUM
TO: City Attorney
City Engineer
FROM: Cindy Houben, Planner
RE: Pitkin Center Building Condominiumization
Parcel ID # 2737-182-15-005
DATE: October 11, 1988
Attached for your review and comments is an application from Greg
Kayne for Condominiumization approval for the Pitkin Center
Building which is located at 520 East Hyman Avenue.
Please review this material and return your comments no later
than November 4, 1988 so that I have time to prepare a memo for
the City Council.
Thank you.
ASPEN/PITKIN PLANNING OFFICE
130 S. Galena Street
Aspen, Colorado 81611
(303) 925-2020
October 11, 1988
Greg Kayne
315 S. Galena Street
Aspen, CO 81611
RE: Pitkin Center Building Condominiumization
Dear Greg,
This is to inform you that the Planning Office has completed its
preliminary review of the captioned application. We have
determined that your application IS complete.
We have scheduled your application for review by the City Council
on November 14, 1988. The Friday before the meeting date, we
will call to inform you that a copy of the memo pertaining to
your application is available at the Planning Office.
If you have any other questions, please call Cindy Houben, the
planner assigned to your case.
Sincerely,
Debbie Skehan
Administrative Assistant