HomeMy WebLinkAboutresolution.council.102-06
RESOLUTION 102-
(Series of 2006)
A RESOLUTION APPROVING A CONTRACTUAL AGREEMENT FOR THE
PURCHASE OF 312 WEST HYMAN AVENUE, LOTS P AND Q, BLOCK 46,
CITY AND TOWNSITE OF ASPEN
WHEREAS, there has been submitted to the City Council a contract for the purchase
of312 W. Hyman Avenue, Lots P & Q, Block 46, City and Townsite of Aspen, a copy of
which contract is attached hereto and made a part thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ASPEN, COLORADO:
Section 1.
That the City Council hereby authorizes the City Manager to execute a contract
between the City of Aspen and Jordan V. Gerberg, a copy of which is annexed hereto and
incorporated herein, to purchase the property at 312 W. Hyman Avenue, Lots P&Q,
Block 46, City and Townsite of Aspen.
Dated: ~ /dj tkl!7("
!, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing
is a true and accurate copy of that resolution adopted by the City Council ofthe City of
Aspen, Colorado, at a meeting held December 11, 2006.
DATES AND DEADLINES
CONlRACT TO BUY AND SELL REAL ESTATE
Property: 312 West Hyman, Aspen, Colorado
Seller: Jordan V. Gerberg Trust Established June 26, 2006
Buyer: City of Aspen
Title Deadline
7 days &fier MEC
Off-Record Matters Deadline
7 days after MEC
Seller's Property Disclosure Deadline
7 days after MEC
Reqdest is made now
Document Request Deadline
Governing Documents Objection
And Title Objection Deadlines
14 days after MEC
Off-Record Matters Objection Deadline
14 days after MEC
Survey Deadline
23 days after MEC
Survey Objection Deadline
30 days after MEC
Due Diligence Period Deadline
30 days after MEC
Inspection Objection Deadline
30 days after MEC
Resolution Deadline
33 days after MEC
Closing Date
90 days after MEC
Possession Date
90 days after MEC
Possession Time
Acceptance Deadline Date
Acceptance Deadline Time
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Coldwell Banker The Aspen Brokers, Ltd.
720 East Durant Ave.
Aspen, CO 81611
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The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
(CBS 1-7-04)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL
AND TAX OR OTHER COUNSEL BEFORE SIGNING.
CONTRACT TO BUY AND SELL REAL ESTATE
(RESIDENTIAL)
Date: .u. . p .-;(? . 2006
Purchase Price: $ 3.500.000 00
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1. AGREEMENT. Buyer agrees to buy, and the undersigned Soller agrees to sell, the Property defined below on the terms
and conditions set forth in this contract.
2. DEFINED TERMS.
a. Buyer. Buyer,
City of Aoopen, Colorado
will take title to the real property described below as 0 Joiot TeolUlls 0 Teoaols 10 Commoo 0 Other
DO
b. Property. The Property is the following legally described real estate:
Lots Panel Q, Block 46, Ci.t;y o~ Aspen
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in the County of Pi tho , Colorado, commonly known as No.
312 "st; V-n. A'V'&IlUA AIKbIHll co 81611
Street Address City Stole Zip
together with the interests, easements, J:ishts, benefits, improvements and attached fixtures appurtenant thereto, all interest of
Seller in vacated _ and alleys adjacent thereto, except as herein excluded.
<. Dates aDd J>eadlioes.
I_No. Refernee EveDt Date or DeadU""
1 ~ 5. Loan Application Deadline n/a
2 pb Loan Commitment Deadline n/a
3 pc Buyer's Credit Information Deadline n/a
4 pc Disancroval of Buyers Credit Deadline nla
5 pd Existing Loan Documents Deadline nla
6 pd Objection to Existing Loan Documents Deadline nla
7 ~ 5d Approval of Loan Transfer Deadline nla
8 ~ 6&(4) Appnlisal Deadline n/a
9 pa Title Deadline 7 cay. dter NBC
10 pc Survey Deadline 23 daya dur NBC
11 ~ 8c Survey Objection Deadline 30 cay. ofur DC
12 pb Document Request Deadline nqaaa't i.. ...s. DOlI'
13 ~7d(2) & ~ 8a Governing Oocwnents Ohjection Deadline and Title 14 dap d1:er MaC
Objection Deadline
14 ~ 8b Off-Rec!>rd Matters Deadline 7 dap dter lII:C
15 ~Sb I Off-Record Matters Objection Deadline 14 da}'ll dter NBC
PREPARED BY: IIMgo GutlMf' GIfdner. 8IoMr.llM-t .......
CBS 1-1-o.t, eomr.::tto Buy end Sol h-' Eat8tlI (RI'I'dulMl). CotonIdoReel Est8te Commiuion
_AlTe-., CI2l106. v..- 6_16.~R~":JanoWMoy.~_Tho_-.U1l.
Bol'"'t'I~
~~
16 ~ Sf Rilili! Of Firs! Refusal Deadline nla
l7 ~ 10 Seller's Prooertv Disclosure Deadline ' days dtex M&C
18 ~ lOa . on Obiection Deadline 30 days atCtex ISC
19 !jIOb Resolution Deadline 33 day. atCtex ll&C
20 ~ IOc Property Insurance Objection Deadline nta
21 ~ II Closilll Date 90 daya dtex ISC
22 ~ 16 Possession Date 90 daya dtex IlC&C
23 !jI6 Possession Time 5:00 p... HS~
24 627 A ce DeadIiae Date , . WJ
25 627 A_ace Deadl\ae Time 4:00 p... IIn 5~
nla nla nla nla
nla n/. nt. nt.
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d. AttxIlDtell"" The following are a part of this contract:
Addend... A
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Note: The following disclosure forms arc atuleloed but are Dot a part of this contract:
Laad-8aaed Pa.int Dj..cl.oaure
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eo Applioabllity ofT-.. A check or similar marl< in a box means that such provision is applicable. The abbreviation
"N/A" means not applicable. The abbreviation "MEC" (mutual execution of this contnoct) means the 1atest date upon which both
parties have signed this contract.
3. INCLUSIONSANDEXCLUSION8. The Purchase Price includes the following items (Inclusions):
L Ftd...... If attsched 10 the PI'operty on the date of this contract, 1igbtiDg. healing, plumbing, ventilating. and air
conditioning fixtures, TV anteDoaS, inside telephone wiring and coonecting blocks1jacks, plants, minors, floor coverings,
intercom systems, built-in kitchen appliances, sprinkler systems and controls, buih-in vacuum systems (including accessories),
garage door opmers including D/. remote controls; and
n/a
b. Ex"'- The following attached fixtures are excluded from this sale:
nla
.. Pe~ PropcrIy. If on the PI'operty whether attached or not on the date of this conIraCt: sIonn windows, stonn
doors, window and porch shades, awnings, blinds, screens, window coverings, curtain rods, drapery rods, firq>Iaj;!; inserts,
fireplace screens, fireplace graIes, heatin.&. stoves, storage sheds, and all keys. If checked, the following are included: 0 Water
Softctoen 0 S.obIFIrc Dekdon U Sec.rity Syste... 0 SaIdJite Systems (including satellite dishes) and
nJa
d. Trmosfer of PenroaaJ 1'r'tlper1y. The Personal PI'operty to be conveyed at Closing shall be conveyed, by Seller, me
and c'- of all _..., (except persooaI property _es for the year of closing), liens and encwnbrances, except
n/.
Cooveyance shall be by bill of sale or other applicable legal instrument.
e. Parkial .ad Starace V.em-. The 0 Use Oaly 181 Ow..ralp of the following parking facilities:
___ J>.. -+--..t to ~ Pr~rtv
and the following storage facilities:
'f'bo_ ---+_....ftt to the.1: ~.
f. Water Rig""" The following legally described water rights:
......
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Any water rights shall be conveyed by n/. deed or other applicable legal instrument.
4. PURCHASE PRICE AND TERMS. The Pun:Iutse Price set forth below shall be payable in U. S. Dollars by Buyer as
as follows:
PREPARED8Y:__Ga_.___
CBS 1-7..04. ContNd to Buy.wl s.tf R.. e..... (R~. Cak:tl.:b R.. e... CommiUion
RoalFAlT8~. C2OO6. VODion &.16. SolIwaro Rogistered "" Jane W Moy, ~ _ Tho^","" -. Ud.
BU)'O'{O) .r (.:(g .
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Item No. RefereDce Item
I ~4 Purchase Price
2 ~4a Earnest Money
3 ~ 4b(1) New First Loan D/a
4 ~ 4b(2) New Second Loan D/a
5 ~4c Assumption Balance D/a
6 ~4d ScU... or Private Financin ufa
7 D/a D/_ D/_
S DI_ DI_ Dla
9 ~4e Cash at Closing 3,150,000.00
10 TOTAL $ 3,500,000.00
Note: If th.... is an inconsistency between the Purch..., Price on the first psg.: and this ~ 4, the omount in ~ 4 shall conlrol.
L EarMSt M-.ey. The Earnest Mooey set forth in this section, in 1be form of wi%'& ._uf'_
is part peymcnl of the Purchase Price and shaI1 be peyable to and held by ..-- ti. .,. ~ "-
(Earnest Money Holder), in its trust accouul, on behalf of boIh. Seller and Buyer. The Eames! MOllO)' deposit shall be tendered
with this contract Wlless the parties mutually agffil and set forth a ditferem deadliDe in writing for its ~ The parties
authorize delivery of the Earnest Money deposit to the closiDg """'I""'Y, if any, at or before CIosiDg. In 1be evCIII Earnest
Mooey Holder has agreed to have intaest on earnest money deposits tnmsfcned to a Iimd at>ohl;.hed for the (lIII'(lOS" of
providing affordable housing to Colorado residents, Seller and Buyu ecknowlcdgc and agffil lhaI any interest IICCfUing on
the Earnest Money deposited with the Earnest Mooey Holder in this transaction sball be tnlI1Sfcned to sudI fund.
b. New 1.0... [Omilled - Not Applicable]
Co Ass1moptioa. [Omitted - Not Applicable]
d. SeI\er ar Priv8te V........ [0rniUed - Not Applicable]
eo CallI at ClosIJo&. All amoonIs paid by Buyu at Closing incloding Cash at Closing, plus Buyer's closing costs, shall
be in funds which comply with all applicable Colorado laws, which include cash, electronic .tnlI1Sfer funds, certified cbeck,
savings and loan tellet's check and cashi..... cbeck (Good Funds).
S. FINANCING CONDITIONS ANDOBUGATIONS.
L Lou AppIka_ [Omitted - Not Applicable)
b. t.aaC_milmeat. (Omilled- Not Applicable]
e. Credit lafonDatIoa. (Omitted - Not Applicable]
d. EmtiJIC Loaa Rerlew. [Omitted - Not Applicable]
" APPRAISAL PROVISIONS.
&. AppnisaIC...&itioa.
121 (1) No Appn..1CoIHlitioa. This subsection L shall not apply.
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PREPARED IN: -.. Gubur GMInef.IIroUr~. .~
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7. EVIDENCE OF TITLE.
L Evidcaec orTitIe. On or before Title DeadJille U 2<:), Seller shall c:ausc to be fumished to Buyer, at SeIler's expeDSO,
a c:urreot CXlIIIIIIitma!t for owner's title insurance policy (Title ~) in In amount equal to the Pun:base Prioe. '-lr\lf
~ 'old ~M. \ G,*"",~ ~~m\Mildl'd*!l At Sell"'s expense, Seller llhaIl cause the lit1e insurance
policy to be issued and deliveml to Buyer as soon as practicable at or alia" Closing. In \ide iol;urance llOIIIIlIilmalt ~ It\
I8l SIoall 0 SIoaD Not oommit to delete or insure 0_ the standard exoeptioos which relate to:
(1) parties in possession,
(1) unrea>rded easements,
(3) survey lIIll!len,
(4) any unrecorded mechanic',liens,
(5) gap period (effective date of commitment to date deed is recorded), and
(6) unpaid taxeS, assessments and unredeemed tax sales prior to the year of Closing.
Any additional premium expeDSO to oblain this additional coverage shall be paid by Seller.
b. Copies ..fEsecptIo... On or before Tade Dead" (f 2c), Seller, lit SeU.... expense,llhaIl furnish to Buyer and
,,/a , (l)acopyofany
plals, declaratioos. covenants, conditions and m;ttictions bunlening the Property, and (2) if a lit1e insunnce conunitment is
required to be furnished, and if this box is dlecked I8l C..pies ..h.y 0dI... ___ts (or, if illegible, summaries of such
documenIS) listed in the sclIedule of exceptions (Exceptions). Even if the box is not checL-M. Seller sball have the obJigatioo
to furnish these documentS purslWIt to this subsection if requested by Buyer any time on or before 0...._.1 lleoIacst D I ~-
(i 2c). This requirement shall pertain only to docwnents as shown of reconI in the offices of the cleric: and recorder. The abstract
or title insurance commitment, together with any copies or summaries of such documents furnished pursumt to this section,
COIlStit1M the title documents (Title Documents).
Co s.rny. On or before s......". DolIIIlIH U 2<:) I8l Seller 0 Bayer shall cause Buyer ODd the issuer of the Tille
~lll\tio'1lrit\ilW.liof."'~'clt'dtIc\lf'alo~ to receive a cum:nt OI_.........IS......".....t
18l1.......e....1 Laelltio. Certifiat~ 0 ,,/a
(!!Jc dc:scriJl!!!In checked is known as SUlVey). An amount not to exceed $ 3. ODO 00 for SUrvey shall be peid by
o Bloyer I8l SeBer. If the cost exceeds this amount, Buyer shall pay the excess on or before ClosiDg uoIess Buyer delivas to
Seller before Survey is ordered. Buyer's written notice allowing 1he exception for survey 1IJlIIIa'S.
do C.._..I.~restC.......1ty G....e..iII& Docamnls.
llSI (I) Not Applicable. This subscclioo d. shall not apply.
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I. TITLE AND SURVEY REVIEW.
L Title Reriew. Boyer shall have the right to inspect the Tille Documents. Writko noIice by Buyer ofunmercluoDbdlility
of title, form or content of Titl. Commitment or of any other unsati,facto<y title ooodition shown by the Tille DocI.'....It.,
notWilbstBnding t 12, sball be signed by or on beba1f of Buyer and given to Seller 011 or before TItleOlrj"t'ae DadliH (i 2c),
or within five (5) calendar days aller receipt by Buyer of my cIw1ge: 10 the Tille ~ or enJ.,..emeaI to the Tille
Commitment togelher with a copy of the docum.... adding any new Exception to title. If Seller does not ~ Buy...a noIice
by the date specified above, Buyer accepts the COIlditiOD of title 8S disclosc<l by the Tille Doa""""" as S81isfacto<y.
b. Mallen .ot SlI...... by 1M ....bIlc IlKords. Seller sba1I deliver to Buyer, on or before Off.IleconIMatilersDad\llle
(i 2c) lrue copies of all leases and surveys in Seller's POSS-c';'lIl pertaining to the Property ODd shall disc\ose to Buyer all
.............. liens (including, without limitation, govenunental improvements approved, but not yet inslalled) or other title
JI\8tIeI'S (iDcluding, without limitation, rights of first refusal, and options) not shown by the public records of wbidl Seller has
actual knowledge:. Boyer shall have the right to inspect the Property to determine if OIlY third porty has OIlY right in the Property
PREPMSJ BY: ..... GuIINr......... 8IOIIet ~
CBS1_T-04.Carftclll>8uy"'SoII--~.~-~c..~.. . .
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not shown by the public records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Writlm
notice of any unsatisfactory condition disclosed by Seller or revealed by such inspection, notwi\hstIIDding t 12. sha1I be signed
by or on bchalf of Buyer and given to Seller on orbefon: Qff-R.ftGJ'd Mailers ObjectiR DadIiH (t 2c). If Seller docs not
receive Buy"'s notice by SOlid dlde, Buyer accepls title subject to such rights, if any, of !bird pouties of which Buyer has octual
knowledge.
Co Sa....eyRcview. Buyer shall have the right to inspect Survey. If writlen ootice by or on behalf of Buyer of any
IIDSIIlisfaclor condition shown by Survey, nolWithslBnding t 8b or fi 12, is received by Seller on oc before S....eyOIojI ....
Dadllloe (t 2c) then such objection shall be deemed anunSlllisfal:tory title condition. 1f Seller does 001 receive BU)'OI's notice
by s....ey Objectlo. DeadIIIIe (t 2c), Buyer aooepts Survey as SIIlisfactory.
d. Speeial Ta:dal DIslridlJ. SFt;CIAL TAXING DISTRICTS MAYBE SlJB,IECT TO
GENERAL OBLIGATION JNDEBI'EDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL
TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN
SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND EXCESSIVE TAX
BURDENS TO SUPPORT THE SER.VICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE
RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHAllGE'SUCH INDIWIIWNESS
WITHOUT SUCH AN INCREASE IN MILL LEVIES- BUYER SHOULD INVESTIGATE THE DEBT
FINANCING REQUIREMENTS OF THE AUTHOJUZED GENERAL OBLIGATION INDEBTEDNESS OF
SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVlClNG SUCH INDEBTEDNESS,
AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES. ~
In the evml the Property is located within a special taxing district and Buyer desires to tcnninBIe this conIrad as a resu1t,
ifwritten notice is received by SeUer on or before OII'-Record Mallen Objedioa 0-I1iBe (i 2c), this conIrad shaI1 then
terminate. If Seller does not receive Buy"'s notice by such date, Buyer accepls the effect of the Property's inclusion in such
special taxing district and waives the rigltt to tcnninBIe.
.. Kf&l1t 10> Object, C..... Buyer's right to object shan include, but not be !imiled to tbose matters Iisled in i 12, If Seller
rcceives noIicc of UIII1IerChantability of title or any other unsatisfacto<y title condition or commi1meut tams as provided in
subsectioos 8 a, b, c and d above, Seller shaI1 use reasonable efforts to correct said. items and bear any oominal expa>se to correct
the same prior 10 Closing. If such unSlIlislilclory title condition is not corrected to BU)'OI's satislilclion on or befOOl Closing, this
c:onIIaCl shaI1 then tenninaIe; provided, however, Buyer may, by written notice received by Seller on or before Closing. waive
objection to such items.
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~~'tI<ll1l) ,,'f'tMWe\ll/Jok.\v.~'<lr\WvIll\\oJW.li)flt.ll"IdIk~ht.~~~W.
occurred 011 or befOOl the RiPI of First IW'uaI DeadIiBe (i 2c), this conIrad shaI1 teI'IDinaU:.
10 TIlle AdvIsory. The Title DocwnenIS affecl the tille. ownership and use of the Property and should be reviewed
carefully. Additionally, other matters 001 reIIected in the Title Documents may aft'ect the title, ownership and use of the
1'\........1). including widtoul Iimilation boundary lines and 0Da'llIlduncnts, area, :rJDDing. __d.d ..~ and claims
of easancnts. leases and otheI' unrecorded agreements, and various laws and govemmmtal rqpdations c:oncoming land use.
deveioproonl and environmenIa1 ___ TIIe..r&ee _Ie ..y be -...s _nle!y tn. tile ....suIyIaa ......... .....
.... trusfer of tile ...race eslBlc does ... .-riIy Iadtlde _fer of tile ..ral riPts. TIlird pu1Ies -y
Ilold iatcraCI ia oB, po, ....... ......... .........1 -'I)' or wa.... ... or ....... tile I'\operty. ....... iatensts -1
pc.... riPts to ClIlcr ud _ tile ......perty. sum matters may be excluded from the title insurance poliey. Buyer is
8dvised to timely consuh legal counsel wilh n:speet to all such matters as there ""' stric:l time limits provided in this COIIlraCt (e.g.,
Title OlIj.;tfoMI Dead_ Ii 2c] and OII'-RftGJ'd Mailers Objectioto Deadliae Ii 2c]).
9. LEAD-BASED PAINT. Un"" exempt, if the improvements on the Property incIudc one or more mideolial dwellings
for which a building permit was issued prior 10 January I, 1978, this c:ontrac:I sha1I be void unIcas a completed Lead-Based Paint
Disclosw:c (Sales) form is signed by SeUer and the n:quired real estate licensees. which must occur prior to the pouties signing
this conIraCl
10. PROPERTY DlSCLOSVRE. INSnCTION AND INSURAB1LITY. BUYt:R DISCLOSURE.
On or before SdIeI"s Preperty Dioe....... De8dllae (i 2c), Seller agrees to provide Buyer wilh a Seller's Property Disclosure
IOrm completed by Seller to the best of Sell.... ewrcnl -.at knowledgc.
L II" "tI<la Obj".... o-I~ Buyer shall have the right 10 have inspections of the phyllieal condition of the
Property and 1nclusions, at Buyer's expense. If the physical condition of the Ptoperty or 1ncluaions is ,_..;.,~ in Buy.....
subjective discretion. Buyer shaI1, on or befon: laspectioa Objeetloa Dead.... (~2c):
(I) noIity ~Iler in writing that this 1:Olllnlc:l is tmninated, or
(2) provide Seller wilh a written description of any unsatisfactory physieaI condition which Buyer requin:s Seller
10 eomoc:t (Notice to Correct).
If written notice is not re<:cived by Seller on or before la, ~ CIoa Objeetloa DeadIiae (f 2c), the physical condition of lite
Property and Inclusions shaI1 be deemed to be satisfactory to Buy....
b. R""'" 0-1... If a Notice 10 Correct is received by Seller and if Buy... and Sell... have - asreed in writing CO a
PREPARED BY: IIIqo 0uIleer~. aroUr.... ..
CBS 1-7..... CanclIoBurond 801__ ~. CokndoRool e.- ~
_Nl1I~-'- 8.18.-"-'" .d1ll:""'W"",~_l1lo_-.Ud.
Buyor(.) ,
~
_.~
settlement thereof on or before ResoIutloa Deaclliae (~ 2c), this contract shall terminate one calendar day following the
ResoI.tIo.DeBdIiae (~2c), unless before such termination Seller receives Buy"'s written withdrawal of the Notice to Correct.
c. l.s.",biIity. This contract is conditionccl uJX>II Buyer's sati.faction. in Buyer's subjective discretion. wjth the
availability, tams, conditions and premium for property insuraDee. This coolncl sha111cnDiDotc upon SeIIer's RCCipt, 011 or
before Property I........., ObjodiaD o..dIiIoe (f 2c) of Buy"'. written notice that such.iDsunmce was DOl saIisIiIctory to
Buyer. If said notice is DOl timely received, Buyer shal] have waiveclany right to terminate IUl<Ier this provision.
II. Dotage. Llca alld 1.....IIy. Buyer is responsible for payment fur all inspectioas, surveys, engineering
reports or for any other worl< performecl at Buy.... request and shall pay for any danIaF which occurs to the Property and
Inclusions as a result of such activities. Buyer shall not pennit claims or Ii.... .of any kind agaiDst thc Property fur ~
surveys, cnsm-mS reporIs and for any other worl< performed on thc Property at Buycr's ""III""l- Buyer agrees \Q indemnity,
prole<:l and hold Seller harmless \tom and ag.ainst any liability. d.~"lV'. cost or expcNC incurrecI by Seller in ~- with
lID)' such iDspccliOD, claim. or lien. This ind<onmity includes Seller'. riRht to recover all cosIs ancI ..."....... iDcurrecI by Seller to
enforce this subsection. including Seller's reasonable aItomey and legal fees. lbe provisioas of this subse<:lion shall survive thc
lauuualiOD of this contrad.
.. Buyer DiseIeI..... Buyer represents that Buyer 0 Daca 181 Daca Not need to sell and close a property to complete
this r~""ioo.
N..1e: Any property sale CODliDgeney should appear in Add_IPrvYisIlMos (!j 24).
r. Moen'a...... If the presence of a RgisIerecI sex offencler is a ...- of concem \Q ~, Buyer IIIlCIers1mds that
Buyer must _ 10caIlaw enf_ officials n:ganIing obtaining such infonDllliOD.
t I. CLOSING. Oclivay of deed rrom Seller to Buyer shall be al c10sina (Closing). Closina shall be 011 the dale specified as
CIIIoiIIc Date (f 2c) or by mutual agreement at an earlier dale. The hour and place of Closing shall be as designated by
Col..t..l.1 ........_ 'ftI8I a--.n. .........-. L1=d .
11. TRANSFER OF TITLE. Sul!iect to teocIr:r or payment 1Il Closing as required berciD and comp/i8ace by Buyer with thc
otbcr terms and provisions hereof, Seller shall c:xecuIe and deliver a good and sufficient __1 ..".,...t:v
deed to Buyer, al Closing, c:ooveying the PrOperty tnoe and clear of all taxes except thc general taxes fur thc y- of Closing.
Excxpl as provided herein, title shall be COIIveyccI tnoe and cl_ of all Iicm, including any goV<lDlD<lllal Iiem fur special
improv_ iDsIaIlccI as of thc dale of Buyel's signature heRon, wbcIber ss""'"owI or Dol. Tille shall be COIIveyccI subject to:
.. those specific Excq>tions described by refereote to n:conIed documeots as ",ftected in the Tille Doeo- accepted by
Buyer in accordance with ~ Sa (Title Review),
b. distribulion uIiIity eaSO"""'k (inclucling cable TV),
.. those specifically describecl righls of tbinI parties not shown by the public recooIs of which Buyer has actual kDawleclgc
and wbidt were acceptecI by Buyer in accordance with f 8b (Malttn not Shown by thc Public Records) and t Ie (Sur\'ey
Review).
II. inclusion of the Property within any special taxing district.
.. the bmefiIs and burdens of any declandion ancI party wall agreo:rnmts, if any, and
r. other Dol.
13. PAYMENT Ofl' ENCUMBRANCES. Any cncumbraoce n:quired to be paid shall be paid 1Il or before Closing ftom thc
proceecIs of this -..action or from any other source.
14. CLOSING COSTS, DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in GoocI Funds, tIwir n:spective
CIosiog cosIs and all other ilcm5 rcquirccI /0 be paid at Closing, except as lllherwisc provicIed b<<cin- Buyer and ScIIcr shall
sign and complete all ......~ or reasonably required documents at or before Closing, Fees for real - CIosin& services
shall be paid at Closing by 181 o-....If by Buyer aad 0I0e-b1f by SeDer 0 Buyer 0 So.... 0 0CIIer
rJ.
\\ \If.'I&\Jllok~\&.'IM~''~'\~.lr'~'~~''''l'' .........~~,.WI).""\llaliill\fJ.)\
[l.....,"\\\[l5WIM\~~'iMilIMI'6\M'd8lD~'6ldt~"k\~~~'6/I~~.H"""''M\'(~
AssociaIion Tmnsfer Fee) shal] be paid by 0 Buyer 0 So.....
The 10caIlnlnsfer tax of 1. 5 % of the Purchase Price shall be paid at Closins by 0 o.e-utr by Buyer
a'" o-Iuolf by SeDer 181 Buyer 0 Seller 0 0tIler .1.
Any saIes and oae tax tblIl may IlCa'Ue because ..f this transaction shall be paid when clue by 181..,. 0 SeIer.
)5. PRORATIONS. The following shall be proratecI to CllJoiIIco.1e (~ 2c), except as o4berwisc provided:
a. Tn... PenooaI property taxes, ifany, and.,&coera1 reaI_te taxes for they_ ofOosin& basecI 011 l8I.:rasCI for tile
C.1eIIdar Vear ba8lecilately Pr...,...~ CIooiIII U Malt --., Mill Lewy a'" Malt a-t A. J I .., 0 0tIler
D/.
b. ItealL Rents b&sed 011 181 Rnota AduUy IlIecI....d 0 Acuud. Security deposits held by Seller shall be aeciited
to Buyer. Seller shaIl assign all ]eases to Buyer and Buyer shall _ such leases.
\ \~\'.W1Wr~lo'l6l\l.n,'" ~\~Io:!Pl*~~~\~" 'I.~W~IIIWWI\WU.~~1IIWWI
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PN'1t~ \0. 'Or.WIa't~\~i~)~'o~~hiliW.\h8I\~lIle'cllIIlg'IIilM\.l\ \ \ \ ~ \ \ \ \'SWIM \ \SMiS\o\ft~
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I*" \,"u \\ \\ \ \ \ \ \ \ \\ \\ \ \ \ \ \\ \ \ \lIdd\ \IWl\GMk\w.!I~\~ ~ ,*~",*,. ... ''S\WIliDII,,"\IIil>~
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Co 06cr I'roratioas. Wilier and sewer charges: interest on any continuing loan, and
n/.
l FIal Scl~ ve.to Unless olherwisc agreed in writing, lhese P""..Mas sbal1 be final.
1'- POSSESSION. Possession of the Property shall be deliveml to Buyer 011 P.... . J .1hUe and P J r ~- T.. (f 2c),
subject 10 the following leases or tenancies:
-
If Seller, after clOsing, tails to deliver possession as specified. Seller shall be subject 10 eviction and sbaIl be additionally
liabletoBlI)';!:forpa~of$ 25.00 pcrdayfromthe I' 11 ....0.. (f 2c) IIII!iI possession is delivered.
Buyer 0 Does 181 DoesNoI ."I"......t that Buyer will occupy the r.uperty as Buy.... priIlcipal resideIlcc.
17. NOT ASSIGNABLE. This coolJact shall not be assignable by Buyer without Sella's prior writIcn consent. Except .. so
l'1lSlricted, this conbaCl shall inure to the benefit of and be binding upon the heirs, porsonal ~ sue" '" and usigns
of the parties.
II. INSURANCE; CONDmON OF, DAMAGE TO PROPERTY AND INCLUSIONS. Except.. olherwise provided in
Ibis oonlJact, the Property, Inclusions or boIh sball be delivered in the condition existing .. of the date of this coolJact, ordinary
wear and tcIr cxcc:pled.
a. Cually I_n..... Tn the evCllt the Property or Inclusions shaD be ~ by fire or oIber casuaIty prior to Closing,
in III ~ of not moo: than ten percent of the lolal PIrc:bue Pril:e, Seller shaD be obIipIed 10 n:pair the same before the
CIoAoIOIIIc (f 2c). In the event such danaIge is not repIIired within SIIid time oc if the """""r exceod such sum, this coolJact
may be terminated II the opboo of Buyer by delivering to Seller writtaJ notice of tcnninaIion. Should Buyer elect to cany out
this coolJact despite such c1arnlIge, Buyer shaD be entit1cd to a cn:dit. II Closing, foc all the insurIIlcO proceeds JCSUItiD&
from such damage to the Property and Inclusions payable 10 Seller but not the owners' asooc:iation. if any, plus the amount
of any dcduc:tihle provided for in such insurance policy, such credit not to exceod the total Purchase Price.
b. Da.....I..lr...... ..d ServIccL SbouId Buy Inclusion or service (including systems and """I' ,- of the
Propaty, e... belling, plumbing, c1e.) &iI or be damaged between the date of this conIraCt and C10sing or.... "--u",, wbichever
shaI1 be earlier, tbm Seller shaD be Iioblc for the repair or ~ of such Inclusion or service with a unit of .imilor size,
. aDd quality, or an equivalall cn:dit. but only to the eXIeDI that the .....n............., or rcplacanall of such Ioc!usian,
llCtVicc or filClure is not the responsibility of the owners' associalioo. if any, Icss Buy insurIIlcO proc:ceds rccciwd by Buyer
covering such n:pair or rcplacc:ma1l. ScIIcr ..,d Buyer arc aware of the cxistmcc of ~ home warranty programs
that may be pw,J -~ and ny cover the n:pair oc rcpba...uwll of some Ioclusi.....
Co Wa..-TIa....... aad VeriIlcatIH ofCoadlt1oL Buyer, upon reasonable notice, shall have the right to walk through
the Property prior to CIosina to verify that the physical coodiIion of the Property and IocIosions compIics with this contract.
I'. RECOMMENDATION OF LEGAL AND TAX COUNSEL By sisninI this .....,....-. Buyer aDd Scl1a' ICIa10wIcdgc
that the rcspcctive broker has advised that this document has "'''^''....ll IceaI coosequcnccs and has ..............>C1ed the
~;."m,.,.. of title and cooa,",';"" with legal and tax or other c:ounseI before signina this contract.
%8. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the csscno:c .....eof. If Buy note or cbcck received as
Earnest Money hemmdcr or Buy oIber paymeut ddc hcrcuodcr is not paid, honored or t.aIdcnd when due, or if Buy other
obligation ber'euIIder is not performed or waived .. berein provided, there shaI1 be the following mnedies:
a. If lIlIyer ilia DefMIt:
181 (I) SpedIk Pert\tnIIO..... Seller may elect to treat Ibis contract .. canceled, in wbicb C85C all JllIYIIlCDIS and
things of value recei\>ed hereunder shall be forfeited and retained on bebalf of Seller, and ScI1er may recover auch damages ..
may be proper, or ScIIer ny cIcct 10 treat this contract as beina in fidl fcn:c and effect and Scl1a' sbal1 have the riabt 10 specific
/jfomJancc or daunagcs, or boIh.
_ (%) Liqllidated 011_1& All payments and thmgs of value received hemmder sholl be forfeited by Buyer and
retained on behalf of Se..... and both parties shall thereafter be rcIeased from all obligations hereunder. It is agreed that such
paymcaIs and things of value ore LlQU(DA TED DAMAGES and (except .. provided in subsection c) ore SELLER'S SOLE
AND ONLY REMEDY for Buyu's Iililure to perform the obJigIlions of this contract. Seller ~ waivC1l the remedies of
specific performance and 8dditionaI damIgcs.
b. If SeIer is ill Defa.1t: Buy... ny cIect to _ this contract .. canceled, in which .,..., all payments and things of
value received bcrcundcr shall be returned and Buyer may reco_ such A_we as ny be proper. or Buyer may elect to
treat this contract as being in full force and effect and Buyer shaI1 have the right to specific perfonnancc or damIgcs. or both-
PREPARED BY: -. QawGllrdnW. 8roUr _;;"....0.&
CBS'.l.....~toe..,ondSel__~CdonodoReol_c..,... . .
_AfT.~-.- o_..._~to:""'WMoy.~_Tho__.Ud.
lluyeI('l 2..fttJ
~~
348 c. Costs .11II Ex.....-. In the event of any arbitration or litigation relating to this contract, the arbitralor or court shall
349 .ward to the prevailing party.U reasonahle costs and expenses, including attorney and legal fees.
350 11. MEDIATION. If. dispute arises relating 10 this contract, prior to or after closing, and is not n:solved, the parties shall
351 first proceed in good faith to submit the malIer to mediation. MedWioo is a prooess in which the parties meet with 111 impartial
352 person who helps to resolve the dispute informally and confidentially. Mediaton ~ impose binding cIecisioos. The parties
353 to the dispute must lIflIW before any settlement is binding. The parties wiU jointly appoint 111 acceptable mediator and will share
354 equa1Iy in the cost of sucb mediation. The mediation. IUlless otherwise agrood, shall Wnninate in the event the aIlire dispute
355 is not resolved within 30 caJeodar days of the date written notice RqUCSIing mediation i. SCDl by one party to the olbcr at the
356 perty's lasllaaowD address. This S<lCtion sbaII not alter any date in 1bis conlracl, lBIIess otherwise agnoed.
357 n. EARNEST MONEY DISPUI'L In the event of any con1rOveny regarding the Earnest Money and things of ...Iuc
358 (notwitl>-.du,g any termiDaliOll of this contlaCt or IIIUIual writkln iIIsInIcIioDs), Earnest Money Holder sbaIl not be required
359 to lake any action. Earnest Money Holder may await any proc=Iing, or at its opIioD and sole discrdiclII, iDlerpIead all parties
360 and deposit any DKH1ey or things of value into a court of compeIeIIt jurisdiction and sbaJl recover court costs and reasonable
361 aIIOI1Iey and IegII fees.
362 13. TERMINATION. In the event this contract is terminated, .U payments and things of value received beRunder shaU be
363 returned and the parties sbaII be relieved of aU obligations hemmder. subject to Ii 10d, 21 and 22_
364 U. ADDITIONAL PROVISIONS. (The fullowing additional provisions have not boa1 approved by the Cob'ado Real EsIaIe
365 Commission.)
366 See ... ~.. ---- A .t~ched MreW
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15. ENTIKEAGREEMJ:NT,MODmCATlON,SURVlVAL This 8jlI'CCIIlelt! constitutes the aIlire conlnlCt between
the parties relating to the subject hereof, and any prior ........moots Jl<llIaioiog thcroto, whether oral or written, bave boa111X1gOl1
and inIegrated into this COIIlI'8<:t. No subsequeI1t modification of any of the _ of this C<IIIIraCl shall be w1id, binding upon
the puties, or enforceable unless made in writing and signed by the parties. Any obligalion in this cootract that, by its terms.
is intended to be performed after termination or Closing shall survive the SlIIIlll.
U. NOTICE, DELIVERY AND CHOICE OF LAW.
.. PIt,....1 Delivery. Except for the notice RqUCSIing mediation desaibed iD ! 21, and exco{lt as provided in ! 26b
below, all notices must he in writing. Any notice to Buy... sbaII be err.etive when received by Buy... or by Selling BrnI<ttage
Finn, and any notice to Seller shall be err.etive when received by Seller or Listing Brokerage Finn.
b. Elcc:tnoIi< DeIMI'y. As an altAlmalive to phyaicaI ~, any ~ docIJment and written notice may be delivered
in ~c form by the following indicated methods only: l!!I F......... l!!I t:-.al 0 No... Do<>-- with origiua1
sip.odu.... shaJl be provided upon request of any party.
eo CIooke efLaw. This contrac:l and .n disputes arising bemmder ahan be govemed by ond oonstrued in IICCOI'daDce
with the laws of the Slate of Colorado that wonld be applicable to Colorado RSic\ents wbo sign a C<IIIIraCl in this - for property
located in ColonIdo.
'1.7. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal shaJl expire unless accepted iD writing, by Buyer and
Seller; as evideDced by 1beir si~<s below, and the off..-iag perty receives nnlice of 1Ccept....,. ~ to ~ 26 OIl or bef.....
AeeepCa_ Deold_ 0.... (! 2c) and AeceptalllC Dead.. TIIae (! 2c). If accepted, this document shaJl become . contract
betw=l Seller and Buyer. A copy of this docoll"'''11 may be cxeaIIied by each party, separately. and ,",-each party bI5 cX<>CUted
a copy thereof. sudJ copies 1aII:0Il togdher shall be deemed to be a 1UIl and complelc C<IIIIraCl between the parties.
DAD
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130 soa.t:h ~, aap-n, co 81611
. """"~-,"",._"N"'.'_""-'''' . J.
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PRS'AAED 8Y;...... ~ GerdIwr, tkoIIIlr '\aacC''--
C8S'_J.(l4.C<nI8ct"lIurandSol__~.~-_c.....' ,
~.AS11D~D2008.Vtnlan B.18.~'" _'. ..dto:.-eWUoy.CoIdMIIBar*erThllAttpllnBn:An.Ud.
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391
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DAl'lI lPae;1M' d~, ;;W <>?
18. COUNTER; REJECTION. This offer is 0 C.....lIlred 0 Rejected.
laitiall ealy of party (Bayer or Seller) _ .....iered or rejected offer
END OF CONTRACT
N....., CIosiIlC........:1iou .... Ell....... M01Ier<<.eaIpt....... lie siped .. or lletbre Tille DClI~. (I %c). I
BKOKER ACKNOWLEDGMENTS. The IIDlIersigned Brokers acIalowledgc receipt oflhe ~ Money deposit specifiod
in fi 4 and, while not parties to the contnlCl, agree to cooperate upon request with 11II)' ....,.j;,nna conduI:Ied under fi 21.
The Sd1ing Broker is a 0 a.ycr's ApIIt 0 T.....-BroIoer in Ibis transactioo.
The Ustiog Broker is a fill Sellcr's Aplat 0 TrallSlldioa-BroIIer in Ibis transaction.
BROKER'S COMPENSATION DISCLOSIJJiL
Selling BroI<eggc Firm's compaIS8Iion or commission is to be paid by 0 LiItiIoc IInbnp .....
o Bloyer 0 0tIIer n/.
IT. be ~ by Ustjg Broker) Listing Brobrage Firm', ~ or COIJIIDission is to be poid by:
181 SeIIcr 0 a.yer 0 0tIIer Dl.
Selling Brokerage Finn's Name:
Co~ctw.11 ~ ~ ~ ~., Ltd..
120 ...t nax-t_.
.....,.., co 81611
By: Man~0~J;>.. H &:{M,Jp.A.A
t:J -
Signature _ -" -"
/;;</13/ c;h
( (
Date
Listing Brokenage Finn's Name: ,.,..,..a.-.", ....'-.... 'rbe :II.
Br-........ Lt:d.
Date: ala MIaraO GubAar Cardftar
Broker
Address: 720 Kaat DuraD~ A.....u.. ::a CO 81611
Phone No.: 910-925-6150 Fax No.: 910-920-4318
PREPAIIE!D BV: ......GuIIMr...... 8roIrIIr ~ I ..
.cas I-H)4. CarlOad ..au,ond Sol AMI _~. C<*>nIdo AMI _c.......
_AfTe-"Cl2OOIl. _ 1.18. _RogioIond\Q;......Y1~.~_...Tho_- tiel
&qw(o) ,J~fd
Pop 10"
ADDENDUM A
Addendum to that Residential Contract to Buy and Sell Real Estate dated N-rV,....L, ~ 'Ji: 2006
(the "Contract''), between City of Aspen ("Buyer"), and Jordan V. Gerberg Trust Established June 26,
2006 ("Seller"), for 312 West Hvrnan A venue located in Pitkin County, Colorado (the "Property").
This addendum has not been approved by Colorado Real Estate Commission.
I. ADDENDUM TO CONTROL. To the extent the provisions contained in the Addendum conflict
with provisions contained in the Contract to which the Addendum is attached, the provisions of
this Addendum shall control and govern.
2. IRC SECTION 1445. Seller warrants that Seller is not subject to withholding as defmed under
Internal Revenue Code Section 1445 and will execute an affidavit prior to closing to this effect.
In the event that Seller fails to deliver the affidavit at closing or that Seller delivers such affidavit
but Buyer has actual knowledge that such affidavit is false, or receives notice that the affidavit is
false from any agent of Seller, Buyer shall be entitled to withhold from the purchase price a sum
equal to ten percent (10%) of the totaJ amount which otherwise should have been realized by
Seller from such sale, which sum will be paid by Buyer to the United States Treasury pursuant to
the requirements of Section 1445 of the Internal Revenue Code and the regulations promulgated
thereunder.
3. COLORADO STATE INCOME TAX WITHHOLDING. Seller has been advised that under
Colorado law (C.R-S. Section 39-22.604,5), in the case of my oonveyance of a Colorado real
property interest the person or party providing closing and settlement services may be required to
withhold Colorado state income tax equal to 2% of the sale price (or the net proceeds resulting
from such conveyance, if less) when the transferor is a non-resident of the State of Colorado.
Seller shall be obligated to either comply with the withholding requirements of C.R.S. Section
39-22-604.5, or provide an affidavit in fonn and content satisfactory to the person or party
providing closing and settlement services which certifies that the Seller is not subjCl'l to the
withholding requirements. .
4. MISCELLANEOUS:
a. Time Periods. If any time period referred to in this Contract shall end on a Saturday,
Sunday or legal holiday, such time period shall automatically be extended to 5:00 p.m.,
M.T. on the first regular business day thereafter.
b. Further A".......""-"s. Each of the parties agrees to execute, acknowledge and deliver, or
cause to be executed, acknowledged and delivered, such further instruments and
documents and to do all things and acts as the other party may reasonably require in order
to carty out the intentions of this Contract and the transactions c:ontempIated beeby.
c. Entire Al!J'eeDleIIt. This Contract contains the entire agreement between the parties and
supersedes all prior undetsIandings, negotiations and represontatioos writIen or oral, not
contained herein. It may not be amended or modified except by an agreement in writing
signed by both parties hereto.
d. InteJlln:lation. No provision of this Contract shall be construed against or interpreted to
the disadvantage of any party by reason of such party having, or being deemed to have
requested, drafted, required or structured such provision.
Page I ofS
5. DUE DILIGENCE. The following is a condition to the closing of this Contract which may be
waived by Buyer alone. Buyer shall have until 5:00 p.m., M.T., on the Inspection Objection
Deadline (the "Due Diligence PeriOln, within which to obtain satisfllCtion as to any matter
concerning the Property, including, but not limited to, the Plans and Specifications, all of the
documentation for the homeowners association of which the Property will be a part, and the
physical inspection thereof and Buyer's intended use thereof. To this end, <a> Seller will
cooperate with Buyer in supplying, upon request, any documentation or infonnation Seller can
supply at no additional cost or expense to Seller; and (b) Buyer, or Buyer's designees, sball be
permitted access to the Property, at all reasonable times to conduct such examinations and make
such tests as Buyer sball ~ appropriate; provided that (i) fullowing any such tests or
examinations, the Property and all facilities thereon shall be restored to its or their condition as
they existed immediately prior to the performance of any such tests of examinations; (ii) Buyer
shall indemnity and hold Seller absolutely blameless and harmless from and against any. and all
loss, injury, damage to person or property, claim, demand, liability or obIi8atioo of whalsoever
nature resulting from, occasioned by or arising in oonnection with the perfunnance of any such
tests or examinations; and (iii) all such examinations or tests shall be at Buyer's sole cost and
expense, shall be undertaken solely at the beh06t of Buyer as a contract vendee, and not at the
behest of Seller as the owner of the Property and shall not give rise to any lien against the
Property. If within the Due Diligence Period, Buyer infonils Seller in writing that Buyer no
10ager wishes to proceed to close this Contract for any reason or for DO TIllISOII at all, fiom then
and thereafter, this Contract shall be immediately tenninated, the parties shall be relieved of any
further duties of performance hereunder, and Buyer's earnest n.-y deposit, togIlther with
interest earned thereon, shall be promptly returned to Buyer. If Buyer fails to give any such
notice. then this ooodition to closing shall be deemed fully satisfied.
6. SELLER'S WARRANTIES AND REPRESENTATIONS. Seller ''1'' s1lll!s and warrants as
foUows that:
a. No Ha2ardous Materials. Seller has not placed any hazardous materials on the Property
and to the hest of the Seller's CW1'CIlt actuaI knowJedse, without any duty of inquiry, the
Property has never been used to generale, manufacture, refine, 1ransport, lreat, store,
handle, dispose. transfer, prodIlce, process, or in any _ deal with, Iwadous
materials. For purposes of this Contract, the tenn "hazardous materials" sball mean any
gasoline, petrolewn products, explosives, radioactive materials, hazardous materials,
hazardous wastes. hazardous or toxic substaDces, polychlorinated biphenyls or related or
similar materials, asbestos or any material contaiDing asbestos, or any ocher SI/~ or
lIIIIlIlrial as may be defined as a hazardous or toxic substance by any envirOlllllClltallaw,
ordinance, rule or regulation of any govemmootal authority, including, without limitation,
the Comprehensive Environmental Response, Compensation, and Liability Act of 1980,
as amended (42 V.S.C. Sections, 9601, et i!l!l.), the Haz8rdous Materials Transportation
Act, IS amended (49 V.S.C. Sections 1801, ~.), the Federal Water PoDution Control
Act (33 V.S.C. Sections 1251, ~ g.) the Clean Air Act (42 U.S.C. Sections 7401, ~
l!!!!I.), C.R.S. 1973 Section 25-1 7-101, ~~., as amended and C.R.S. Section 25-15-101,
~g.
b. No Hamrd Areas. No portion of the Property is Ioeated within any flood plain, mud
slide, flood hazard, or fiwlt area. as designated on any map pI'C!IIRd or issued for such
Page 2 of5
purpose by any governmental authorities.
c. No Patent or Latent Defects. Seller has no knowledge of any patent or latent defects, soil
deficiencies or subsurface anomalies existing on the Properly. If Seller has COIISlIUCted
any improvements on the Property. If Seller has constructed any improvements on the
Property, Seller sbaII provide Buyer a copy of the soils report and represents that any
recommendations of the soils engineer regarding locations or constnJctioo of the
foundation andIoc retaining walls have bc:co followed.
d. No Mechanic or Materialman Liens. No work or labor has been "".funned nor materials
fumisbcd in connection with any improvements to the Property wilbin six moaths of the
date bereof or if any sucb work or labor has been performed or materials lilmisbed, all
costs and charges for the same have bc:co fully paid and tbeno exists DO ......J...Uc's 01"
materialmen's liens with respect thereto or the right to claim such mechanic's or
materialmen's liens. There shall be no mechanic's or ~'s liens in exislllllCe, 01"
the right to file sucb liens, at Closing, and Sellers sball deliver In the title insunmce
compeny issuing the Title Insurance ConunitIMnt an affidavit, 01" such olheI' documcals
as required by the Title Company, executed by Sellers certifying epinst work done or
materials furnished to the Property whicb might be grolIIlIls for a mechanic's or
materialmen's lien under or pursuant In the laws of the Stale of Colorado in form
sufficieDl to enable the rille Company affirmatively In iDsure Buyers &gIIiDst any such
liens and any and all other affidavits whicb the rille Compeny might re8SOJ'ably require
in orde1" In insure title to Buyers with the deletion of StaDdanl Printed Exceptions I
through 5, at no cost to Buyers.
e. Public Assessments. Any assessments billed either prior In clasing or within one bundred
and twenty (120) days tbereafb:r for municipal or govemmental improvements
constructed or installed prior In clasing will be the obligation of the Seller.
f. Tap Fees. All utility tap fees have bc:co paid for the Property, and that gas, water, sewer,
eleclrical. cable television and le1ephooe services will be available In the I'luperty at
closing. Buyer shall have DO obligation foc the payment of any tap fees and shall be
enIitJed In ~ by Seller foc any tap fee not paid prior to C1osiDg.
g. Buildill2 and Fire Codes. All construction 00 the Property has been, and will be,
performed and completed pursuant In a valid building permit and in accordaIIce with all
appli<:able building and fire codes.
b. No Cn<IR Violations. To the best of Seller's actual knowledge, then: is and will be at the
time of closing no condition existing with respect In the construction on oc occupancy of
the Property that violates any local or State code, law or ordinance.
i. MercbantabiJtv. Seller has good and mercbantable title In the Property free and clear of
all liens and encwnbrances (other than lbose that shall be payable at Closing aod then:
exists no restrictions on the right of Seller to transfer and assign the Prl>perty and convey
good title thereto In Buyer. Seller shall continue to be lawfully sei2Illd of the Propert.y
until the date of closing.
j. No Collateral Default Neither the execution of this Conttael nor the COIISUD\JIIIIli of
the tnmsactions provided for ben:in constitute, oc will result in, any breach of any of the
terms, conditions, or provisions of, or constitute a defauh under any indenture, mortgage,
Page 3 ofS
loan agreement, lien, license, judgment, decree, order, instnnnent or other verbal or
written agreement to which Seller is a party or is subject or to which the Property is
subject.
k. Authority to Eotet Into Contract. If Seller is other than a naturaJ person, Seller has the
legal power and right to entet into this Omtract and to perform all of its obligations
hereunder. The execution of performance of this Contract bas '-n duly authorized by all
necessary intemaI action of Seller and Seller shall. III or prior to Closing. provide Buyer
with evidence of such action in a form satisfactory to Buyer. This Contract is a valid and
binding obligation of Seller, enforceable against Seller in ac:conlance with its terms.
1. Undel'l!l'OUlld Stonuze Tanks. No underground storage tanks are loc8lAld no the Property
and any underground storage tanks lftViousIy locaIed no the Plopcrty during Seiler's
ownership were removed in compliance with all of the provisions of the Colorado
Underground Storage Tank lAw, C.R..S. ~ I-20-S01 etseq. and regulations thereuoder. If
any undergrow>d storage tanks were located 011 the Property during Seller's ownership
and subsequently removed, Seller sball provide to Buyet prior to Seller's "'_ty
Disclosure Deadline with copies of aD records prepered and maintained in accordance
with the regulalions set forth above, demonstmting compliance with the requirements for
closure and removal of sucb underground storage taDks.
The foregoing statements are true and correct as of the date of the Contract and will be true and
correct OIl the Closing Date. Seller sbaII execute an affidavit as to the truth and accuracy of these
representations and warranties on the date of closing.
7. 1TI'LE COMMITMENT. Seller sball cause the Title Company is6uing the commitment to
provide, COI\CIRROtly with the delivery of the title iDsuraDoe ~ legible goples of aU
plats, covenants, easements, reservations, and other docwnents or instruments IiSlIld in the
Schedule of Exceptions, together with a current certificIIle of taxes due issued by the treasun:I' of .
the county in which Properly is loca1ed. Said Commitment sban provide affirmative gap
coverage. All refenmces to an "abstract" in the Conlract are hereby deleted.
8. EQUIPMENT AND APPLIANCES IN WORKING ORDER. Sellers agree that all systems,
including but not limited to beating. plumbing. electrical, and all appliances, shall be in good
working order at the time of closing. The Sellers sball keep and maintain the Property and
electrical, plumbing and beating systems in good condition and shall, at their sole cost and
expense, undertake wbatever repairs and/or mainlcllllDce shall be or become oecessauy prior to
Closing to b:ep them all, and the P>operty, in good conditicD. Any existing wlllTllDties sbaIl be
assigned to Buyer at Closing.
9, BUYER'S RIGHT OF ENTRY. Commencing on the date oftbis Contral:t and cootinuing for the
entire tam hereof, Buyer and Buyer's represa1taIives and agcats shall have the right aod
privilege to enter upon tbe Property at any reasonable time or times rOl" the purpose of conducting
such U16pea;ons, evaluations, planning. soil testing and other simillr activities, as Buyer sball
deem necessary in order to conduct their due diligence activities and to properly evaluate the
potential development, use and enjoyment of the Property. Buyer shall CXJDduct such activities III
their own cost, risk and expense, and shall indemnity and save Seller harmless from any loss,
damage or liability connected with or arising out of Buyer's cotIy or CXJDduct of activities upon
the Property, including but not limited to any mechanics' liens that may encumber the same.
Buyer aCknowledges that Seller resides in the residence and, for this reason, may only enter upon the property on
days and times agreeable to Seller and upon not less 72 hours advance notice to Seller. In recognition of the seasonal
holidays, Buyer agrees that it shall not enter upon or disturb Sellers's quiet enjoyment of the Property during the
following dates: November 22-27 and December 23 through January 2, 2007.
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10. CLOSING OBLIGA nONS. At closing, Seller will deliver to Buyer: (i) all keys to the Property,
remote controls for garage doors, locks and alarms, if any; (ii) a list with the DlIIIlCS, Wdo~_
and telepbooe numbers of all companies or supp1iers of IltilitiflS, LuvI..",ing, f'uewood, snow
plowing, scc:urity, insurance and other services to the PI~; and (iii) all WIIAlJties. l1IIlluals,
instnJction brochures or similar information in Seller's possession relating to the Property or
Inclusions of lheir use, openItion or maintenance.
II. CLEANING. Seller, at Sellets expense, agrees to clean the Property for Buyer's ocoupancy. All
rooms of the house shall be professionally cleaned and ready for oc:~; all ewpeling shall be
professionally steam-cleaned and all trash removed. In addition, all appliances, windows,
cabinets, drawers and all bathrooms including tubs, showers, sinks and toilets shall be can.
BUYER:
SELLER:
By:
'-(l /j /7 . /J
",;tL (~/>~--f/
"';;z~
Page 5 ofS
CONTINUATION OF ADDENDUM A
TO CONTRACT TO BUY AND SELL REAL ESTATE
12. The execution by the Aspen City Manager of this Contract to Buy and Sell Real
Estate is specifically conditioned upon the approval by the Aspen City Council
evidenced by a resolution authorizing and approving the Contract. If this Contract is
approved by the City Council, Purchaser shall deliver to Seller a resolution of the City
of Aspen City Council authorizing the execution of this Contract within thirty (30) days
following MEC. Notwithstanding Section 2.e. of the Contract, the abbreviation
"MEC" shall be the mutual execution of this contract as of the date of the resolution
evidencing approval of this Contract by the City Council.
SELLER:
;;41
Coldwell Banker The Aspen Brokers, Ltd.
720 East Durant Ave.
Aspen, CO 81611
The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
(LP45-5-04)
Lead-Based Paint Disclosure (Sales)
Attachment to Contract to Buy and Sell Real Estate for the Property known as:
312 w.st IIv!II.aft AY8Du. AsD18D eo
Street Address City State
81'11
Zip
WARNING! LEAD FROM PAINT, DUST, AND SOIL CAN BE DANGEROUS IF NOT MANAGED PROPERLY
PeRalties for failure to comply witll Federal Lead-Based Paint Disclosure Laws iaclude treble (3 times) damages,
attorney fees, costs, aud a penalty up to $10,000 (plus adjustment for inflation) for each violation.
Disclosure ofInformation on Lead-Based Paint and/or Lead-Based Paint Hazards
Lead Warning Statement
Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such
property may pr<sent llXpOSID'O 10 lead from lead-based paint that may place YOWlg children at risk of developing lead poisoning. Lead
poisoning in young children may produce permanent newological damage, including learning disabilitiea, reduced intelligence quotiatt,
behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregIIlID! women. The Seller of any interest
inresidentialrealproperty isrequired toprovide the boYerwith any information on lead-basedpainthazards ftomriskassessments or inspections
in the Seller's possession and notifY the buyer of auy known lead-based paint hazards. A risk assessment or inspection for possible lead-based
paint hazards is recommended prior to purchase.
Seller's Disdosure to Buyer and Real Estate Licensee(s) and Acknowledgment
(a) Seller acknowledges that Seller bas been informed of Seller's obligations. Seller is aware that Seller must retain a copy of this
disclosure for not less than three years from the completion date of the sale.
(b) !'I:dence of lead-based paint and/or lead-based paint hazards (check one box below):
I!J Seller has no knowledge of any lead-based paint and/or lead-based paint hazards present in the housing.
o Seller has knowledge of lead-based paint and/or lead-based paint hazards present in the housing (explain):
nJa
(c) R~ and reports available to Seller (check one box below):
9" Seller has no reports or records pertaining 10 lead-based paint and/or lead-based paint hazards in the housing.
o Seller has provided Buyer with all available records and reports pertaining to lead-based paint aud/or lead-based paint
hazards in the houaing (list documents below):
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Buyer's Acknowledgment
(d) .Buyer bas read the Lead Warning Statement above and understands its contents.
(e) BoYer has reoeived copies of all infonnation, including any reoonls and reports listed by Seller above.
(I) Buyer has reoeived the pamphlet "Protect Your Family From Lead in Your Home."
(g) BoYer acImowledges federal law requires that before a buyer is obligated WIder auy c:onlnIcI to buy and seU real estate, Sell...
shall permit Buyer a IO-day period (unless the parties mutually agree, in writing, upon a different period of time) to conduct a
risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards.
(h) Buyer, after having reviewed the contents of this form, and any records and reports listed by Seller, has elected 10
(check: one box below):
o Obtain a risk asses&ment or an inspection of the Property for the JnSCllce of lead-based paint and/or lead-based paint
hazards, within the time limit and under the terms of Section 10 of the Contract to Buy and Sell Real Estate, or
o Waivo the opportunity 10 conduct a risk assessment or inspection for the presence of Iead-based paint and/or lead-based Paint
hazards.
Real Estate Licensee's Acknowledgment
Each real estate licensee signing below acknowledges receipt of the above Seller's Disclosure, has informed Seller of Seller's obligations
and is aware of licensee's responsihility 10 ensure compliance.
PREPARED BY: Morga G.-lJonl_, __
LP'5-5-04. lEAD-IlASED PAINT DISCLOSURE (SAlESl. C_o Real E..... Commiaaion
RoelFAST"~.C2006. Venion 8.16. ~R_to: ......WIloy,~__AIpon_ Ud.
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Certification of Accuracy
I certify that the statements 1 have made are accurate to the best of my knowledge.
SKLaR ;Z(~/
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Real Estat Licensee (Listing) ~
Real Estate Licensee (Selling)
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PRfPARED BY: Margo GubMr GlJrdMl", 8fokw Meoclllte
LP4S-S-04. LEAD-BASED PAINT DiSClOSURE (SAl.ES). Colorado RtlOI E>I*.commIaaIon
R..IFASTe SoIlw.... C2008. VorsIcn 8. IS. Software Regislerod to: Jan. W UojI. CoIdwoIIBonkor Tho Aspon _.... lid.
11112106 15:28:48
Pogo2012
Coldwell Banker The Aspen Brokers, Ltd.
720 East Durant Ave.
Aspen, CO 81611
The printed portioas oftbis form, exeept differeatialed additions, bave been approved by the Colorado Real Estate Commission. (SPD 19-10-05)
(Mandatory 1-06)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER
COUNSEL BEFORE SIGNING.
SELLER'S PROPERTY DISCLOSURE
(ALL TYPES OF PROPERTIES)
THIS DISCLOSURE SHOULD BE COMPLETED BY SELLER, NOT BY BROKER.
Seller states that the infonnalion contained in this Disclosure is correct to the best of Seller's CURRENT ACTUAL KNOWLEDGE as of this Date.
Broker may deliver a copy of this Disclosure to prospective buyers.
Date: November 14. 2006
Property Address:
.312 West HYman Avenue. AsDen. Co1orado 81611
Seller:
Jordan Gerberg
Yea No
Do Not
Know
COMMENTS
other insects or rodents
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7 Exterior Artificial Stucco IFS
8 Any additions or alterations made without a required
b'I' .
9 Building code violations
B. ROOF
1 Roof blems
2 Roof material
'1
3 R
4 Roof leak:: Present
Ae
e
COMMENTS
."...-
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6
7
8
9
10
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PREPARED BY: Margo GubSer Gardner. Broker Associate
SPD 19-10-05, SELLER'S PROPERTY DISCLOSURE (ALL TYPES Of PROPERTIES). Colorado Real Estate Commission
ReaIFA$TiS) Software, (92006, Version 6.16. Software Registered to: Jane W May. Coldwell Banker The Aspen Brokers. Ltd.
11/1410617:02:23
Buyer(s) _
pag.g
senar(y-
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I
12
3
4
5
6
7
8
9
10
II
12
13
14
15
APPLIANCES
Built-in vacuum SYstem & accessories
;A;;.,.....
Clothes washer
Dishwasher
Di<nosal
Freezer
Gas.,,;lI
Hood
Microwave oven
Oven
Ranlle
Refrillera(or
T.V. antenna U Owned U Leased
Satellite system or DSS dish 0 Owned 0 Leased
Trash compactor
IN WORKING CONDITION
Do Not .Age If
Yes No Know Known
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D. ELECTRICAL 8<
TELECOMMUNICATIONS
1 Securitv Svd""': 0 J Leased
2 Smokelfire detectors: I!:I Batterv U Hardwire
3 Lillht fixtureS
4 Switches & outlets
5 Aluminium wirin~
6 Electrical: Phase Voltal!e
7 TelecoD1J1111!!ications ITI fiber cable satellite)
8 Inside telenhone wirin~ & blocksIiaclcs
9 Abandoned communication cables 0 Yes UNo
I(j Ceilino fans
1111 r~_ft.
12 Garaoe door contrails) #
13 Intercom/doorbell
14 In-wall <neakers
15 220 volt service
16 Landscape lighting
IN WORKING CONDmON
Do Not Age If
Yes No Know KDOWD
COMMENTS
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E.1 MECHANICAL
1 Air condition;n;':
E~ive cooler
Window units
Central
Comnuter room
2 Attic/whole house fan
3 Ventfans
4 Humidifier
5 Air nurifier
6 Sauna
IN WORKING CONDITION
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PREPARED BY: Margo Gubser Gardner, Broker Associate
SPD 19-10-05. SELLER'S PROPERTY DISCLOSURE (ALL TYPES OF PROPERTIES). Colorado Real Estate Commission
ReaIFA$TlJtl Software. 102006, Version 6.16. Software Registered to: Jane W May, Coldwell Banker The Aspen Brokers, ltd.
11/14/0617:02:23
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WORKING ONDlTION
Do Not Ale If
Yes No Know Known
COMMENTS
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11 Water heater:
Fuel
12 Fire lace: T
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14
15
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Stove: T Fuel
When was fireplacelwood stoveAmney/flue
last cleaned: Date: l2r Do not know
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17 Radiant heating system 0 Interior 0 Exterior
Hose T
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20 Elevator/escalators
21 Liftlhoistlcrane
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IN WORKING CONDITION
Do Not Age If
Know Known C MMENTS
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4 Lift station e eector
5 Drai stonn sewers retention nds
6 water eluse
7 Plumb' blems DYes No o Do not know
8 S
9U Olertem
10 Fire s 'nlder tern
11 polybuty1ene p~ /'
DYes 0 No l..!l1:>o not know
12 Galvanized pipe ...../
DYes 0 No L::fDonotknow
13 BacldIow prevention device
o Domestic 0 Irrigation 0 Fire
Os e
14 Irri ation urn
15 WeUpurnp
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PREPARED BY: Margo Gubser Gardner, Broker Associate
SPD 19-1D-OS. SELLER'S PROPERTY OISCLOSURE (All TYPES OF PROPERTIES). Colorado Real Estate Commission
ReaIFA$T@Software, @2006. Version 6.16. Software Registered to: Jane W Moy, Coldwell Banker The Aspen Brokers., Ud.
11/14/0617:02:23
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H. US ZONING & LEGAL ISSUES
I CUrrent use of the Pro e
2 Zoning violation, variance, conditional use, enforceable
PUD or non-<:Oltformin use
3 Notice or lhreal of condemnation oed"
4 Notice of any adverse conditions ftom any governmental or /"
uasi- ovemmental en that have not been resolved
5 Violation of re;trictive covenants or owners' association
rules or re ations
COMMENTS
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8 Other legal actioo
I. ACCESS PARKING DRAINAGE & SIGNAGE Yes No
I A access lems
2 Roads, driveways, trails or paths through the Property used
others
3 Public hi or coon road borderin the
4 Encroachments, boundary disputes or unrecorded
easemeQts
5 Shared or common areas with ad' oinin es
6 m covenan easements
7 R uirements for curb, veil vin landsca in
8 PI or roblems: Past
Do Not
Know
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10 Si : 0 Owned 0 Leased
II Slgos: Government or private restrictioo problems
WATER & SEWER SUPPLY
Yes No
Do Not
Kno
COMMENTS
J.
I
2
3
4
5
6
Water
Sewer
fees Id in full
fees 'd in full
7
Well to bem
Type ofwater supply: Public Community Well Shared Well Other
If the Property is served by a well, supply to Buyer a copy of the well permit
WeB Permit # Water Com Name:
Type of sanitary sewer service: Public 0 Community 0 Septic System 0 None 0 Other
If the Property is servedJ!y an on-site septilJJ!YStem, supply to buyer a copy of the permit and drilling records.
Type of septic system: U Tank 0 Leach U Lagoon
'REPARED BY: Margo Gubser Gardner. Broker As!s;ociate
~PD 19-10-05. SELLER'S PROPERTY DISCLOSURE (ALL TYPES OF PROPERTIES). Colorado Real Estate Commission
~eaIFA$T~ Software. moos. Version 6.16. Software Registered to: Jane W Moy, Coldwel\ Banker The Aspen Brokers, Ltd.
11114106 17:02:23-
luyer(s) _
P"~rP'
Seller(S~
I'
K. ENVIRONMENTAL CONDITIONS
To Seller's current actual knowledge, do any of the Do Not
followin. conditions BOW exist or have thew e:dsted: Yes No Know COMMENTS
I Hazardous materials on the Property, such as radioactive,
toxic, or biohazardous material's, asbestos, pesticides, /'
herbicides, wastewater and other sludge, radon, methane,
solvents or netroleum nroducts
? -/
, '"~ft,'.ft" /'
4 Underoround transmission lines /"
5 Pels k:cot on the Proncrtv -;7
6 Property ~= as, sitoated on, or adjoining a dump, land fill /'
or monici solid waste land fill
7 I /'"
8 Sliding, settling, upheaval, movement or instability of earth ./
~ 'vA'1
9 Min'- .h.lk tunnels or abandoned wells on the PronPrlv /
10 ~~~ govermentally designated geological hazard or /'
. 'v~,~
11 Within governmentally designated flood plain or wetland -/
area
12 Governmentally designa~n~ous weeds (within last 3 -./
,,~-..l ."~~"c'.
13 Dead diseased or infested trees or shrubs -/
14 Environmental assessments, studies or reports done ./
involvin. th~ nhv<ical condition of the Pro"""""
15 Property used for any mining, graveling, or other natural ./
resources extraction." """",!ions such as oil and "". wells
Iii '-'-~'P-"'::'" ,,-
17 Aroheololrical features. fussU. or artifilcts on the / /'
18 Other environmental problems ./
Do Not
. Iv_ 11\In Il'nn_
1 is nart of an owners' association ./
2 S~aJ~~entsorin=asesin~M~ents ./
owners' asoociation but not vel imnlemented
3 Governmental special improvements approved, but not yet ./
insta\1ed, that may become alien . theProoertY
.
Do Not
M ..~~" - .u v_ 1\In Il'~R_
I Anv""" o[the pron""" leased to others Iwritten or oral) 7 "'TIn" ... '" ~
2 Written reports of any building, site, roofing, soils or ./
. 'n.'~v" .
3 Work: done under an insurance claim ..- /
4 Structural, architectural and engineering plans and/or ./
snecifications for any existin. imnrovements
5
6
7
PREPARED BY: Margo Gubser Gardner, Broker Associate
SPO 19-I().05, SELLER'S PROPERlY DISCLOSURE (ALL lYPES OF PROPERTIES). Colorado Real Estate Commission
ReaIF.A$W SoftWare, ('92006, Version 6,16. Software Registered to: Jane W Moy, Coldwell Banker The Aspen Brokers. ltd.
B ( ) 1111410617:02:23
uyer s _
fs~
Seller
Yes No
o MENTS
i
Seller owns all cro s
Livestock on the
Any land leased from others:
o State 0 BLM 0 Federal 0 Private 0 Other
/'
O. NOXIOUS WEEDS
The Colorado Weed Management Act became law on January 1, 1992. The law requires that every county or municipality in Colorado adopt a
weed management plan oullining the rules governing identification and method of eradication. The State of Colorado has identified PURPLE
LOOSESTRIFE, SPOTTED KNAPWEED, MUSK TIlISTI..E, LEAFY SPURGE. CANADIAN nnSTI..E, DIFFUSE KNAPWEED, RUSSIAN
KNAPWEED, DALMA nON TOADFLAX and YELLOW TOADFLAX. among others, as noxious weeds.
To Seller's current actual knowledge, have any of e Do Not
followin occurred to the Pro within the last 3 years: Yes No Kaow COMMENTS
1 Identification of noxious weeds
2 Sub' eel to written weed control Ian /'
3 Herbicides lied
4 Biological agents or insects released on any of the /'
noxious weeds
P OTHER DISCLOSURES - Land
1 Any part of the Property enrolled in any governmental
progtalllS such as Conservation Reserve Program
CRP Wetlands Reserve Pro etc.
2 Conservation easement
3
4
5
Do Not
Yes No KBow
COMMENTS
/'
Seller and BuYer understand that the real estate brokers do not warrant or guarantee the above information on the Property. Property inspection
services may be purchased. This form is not intended as a suhstitute for an inspection of the Property.
ADVISORY TO SELLER:
Failure to disclose a known material defect may resnlt in legalliabiJity.
The information contained in this Disclosure has been furnished by Seller, who certifies to the tnlth thereof based on Seller's CURRENT ACIUAL
KNOWLEDGE. Any changes will be disclosed by Seller to BuYer promptly after discovery. Seller hereby receipts for a copy of this Disclosure.
..- S;d~
Jordan rq
DAB
.M?V /s ~c.JZ>;::;
.
ADVISORY TO BUYER:
Even thougb Sener has answered the above questions to the best of Seller's curreut actuallmowledge. Boyer sbonld obtain expert assistance
to aceurately lUld fully evaluate the Property regarding use lUld acoess, water. sewer, utiJities, enviroumental and geological conditions,
noxious weeds and other matters wbich may affect Buyer's use of the Property. Valuable information may be obtained from various
loealfstatelfederal agencies, and other experts may perform more specific evaluation of the Property.
Boundaries, locatiou and owuership of fenl%S, dIjvewayS, bedges, and sinn1ar items may becOme matters of dispute. A survey may be used
to determine such matters.
PREPARED BY: Margo Gubser Gardner, Broker Associate
SPD 19-10-05. SELLER'S PROPERTY DISCLOSURE (ALL TYPES OF PROPERTIES). Colorado Real Estate Commission
ReaIFA$T@ SoftWare, e2006, Version 6.16. SoftwaJQ Registered to: Jane W Moy, Coldwell Banker The Aspen Brokers. Ltd.
11114106 17:02:23
Page 6 of
Buyer(s) _
The contract between Seller and Bnyer controls if any item is inclnded or exclnded.
Buyer acknowledges that Seller does not warrant that the Property is fit for Buyer's intended purposes or use of the Property. Buyer acknowledges
that Seller's indication that an item is "working" is not to be constroed as a warranty of its continued operability or as a representation or warranty
that such item ism for Buyer's intended purposes. Buyer hereby receipts for a copy of-this Disclosure.
BUYER
'REPARED BY: Margo Gubser Gardner, Broker Associate
SPD 19--10-05. SELLER'S PROPERTY DISCLOSURE (ALL TYPES OF PROPERTIES). Colorado Real Estate Commission
~ealFA$T@ Software, C2006, Version 6.16. Software Registered to: Jane W MO)4 Coldwell Banker The Aspen Brokers. Ltd.
11/14/0617:02:23
DATE
P~9~7
sener(r-
i
~J1[~lt- A
AH DEVELOPMENT SUMMARY
PURCHASE PRICE:
$3,500,000
NEW CONSTRUCTION PRICE:
2.485 SQUARE FEET AT $350ISQ.FT
$869,750
REHAB OF CHALET:
RESTORATION & CONVERSION OF
GARAGES TO LIVING SPACE
1,956 SQ. FT AT $250/SQ. FT
$489.000
TOTAL ACQUISTION & CONSTRUCTION:
$4,858,750
TOTAL SALES PRICE:
1 CAT 2.2 BDR.
1 CAT 3.2 BDR.
1 CAT 4.2 BDR.
1 CAT 4.3 BDR.
$848,000
NET COST:
$4,010.750
PER UNIT SUBSIDY (4 UNITS):
PER BEDROOM SUBSIDY (9 BEDROOMS):
$1,002,688
$445,639
RETENTION OF 1 UNIT AS FREE MARKET
TOTAL ACQUISTION & CONSTRUCTION:
$4,858,750
TOTAL SALES PRICE:
1 FREE MARKET. 2 BEDROOM@ $1200/5Q. FT
1 CAT 3, 2 BDR.
1 CAT 4.2 BDR.
1 CAT 4.3 BDR.
$1,807.200
NET COST:
$3,051,550
PER UNIT SUBSIDY (3 UNITS):
PER BEDROOM SUBSIDY (7 BEDROOMS):
$1.017,183
$435,936
SALE OF UNUSED FAR AS 4 TOR'S
TOTAL ACQUISTION & CONSTRUCTION:
$4,858,750
TOTAL SALES PRICE:
1 CAT 2,2 BDR.
1 CAT 3,2 BDR.
1 CAT 4,2 BDR.
1 CAT 4,3 BDR.
$848,000
SUBTOTAL:
$4,010,750
SALE OF 4 TDR'S
AT $200,000 EACH
$800,000
TOTAL NET COST:
$3,210,750
PER UNIT SUBSIDY (4 UNITS):
PER BEDROOM SUBSIDY (9 BEDROOMS):
$802,688
$356,750
SALE OF UNUSED FAR AS 8 TDR'S
TOTAL ACQUISTION & CONSTRUCTION:
$4,858,750
TOTAL SALES PRICE:
1 CAT 2,2 BDR.
1 CAT 3, 2 BDR.
1 CAT 4.2 BDR.
1 CAT 4,3 BDR.
$848,000
SUBTOTAL:
$4,010,750
SALE OF 8 TDR'S
AT $200,000 EACH
$1,600.000
TOTAL NET COST:
$2,410,750
PER UNIT SUBSIDY (4 UNITS):
PER BEDROOM SUBSIDY (9 BEDROOMS):
$602,688
$267,861