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HomeMy WebLinkAboutAspen Times Hotel Jerome Dev AgreementEXHIBIT 7 ASPEN TIMES/HOTEL JEROME SUBDIVISION/PD DEVELOPMENT AGREEMENT THIS ASPEN TIMES/HOTEL JEROME DEVELOPMENT AGREEMENT (this "Agreement") is made and entered into on this of 2016 by and between THE CITY OF ASPEN, COLORADO, a municipal corporation (hereinafter, and ICONIC PROPERTIES - JEROME, LLC, a Delaware limited liability company (hereinafter, "Owner"). WITNESSETH: WHEREAS, Owner has submitted to City an application for Planned Development - Detailed Review approval (the "Application") for those certain properties in the City of Aspen, Colorado more particularly described on Exhibit A attached hereto and a made a part hereof by this reference (the "Pro a "), which Application requests the approval and recordation of an Approved Plan Set documenting the design, layout and configuration of the proposed development (the "Approved Plan Set"); the approval, execution and recordation of a Final Plat of the Aspen Times/Hotel Jerome Subdivision/Planned Development (the "Final Plat"); and the approval, execution and recordation of a Right -of -Way Vacation Plat for a portion of the alley in Block 79, City and Townsite of Aspen (the "Vacation Plat"); and WHEREAS, City has fully considered the Application, the Approved Plan Set, the Final Plat, the Vacation Plat, the proposed development and improvement of the Properties, and the effects of the proposed development and improvement of said Properties on adjoining or neighboring properties and property owners; and WHEREAS, City has approved the Application and in connection therewith has imposed certain conditions and requirements in connection with its approval and recordation of the Approved Plan Set and its approval, execution. and recordation of the Final Plat and Vacation Plat, such matters being necessary. to protect, promote and enhance the public safety, health and welfare; and WHEREAS, Owner is willing to acknowledge, accept, abide by and faithfully perform the conditions and requirements imposed by City in approving the Application, the Approved Plan Set, the Final Plat, and the Vacation Plat; and WHEREAS, pursuant to Section 26.490.060.B., Site Protection Guarantee, and Section 26.490.060.C., Site Enhancement Guarantee, of Title 26, Land Use Regulations, of the Aspen Municipal Code ( the "Re ations"), City is entitled to certain financial guarantees to ensure recovery of the Properties and surrounding grounds to a safe and visually acceptable condition, and the installation of public improvements on or adjacent to the Properties in the event of a work stoppage, and Owner is prepared to provide such guarantees as hereinafter set forth; and WHEREAS, pursuant to Section 26.490.070.A.1., Landscape Guarantee; Section 26.490.070.A.5., Historic Preservation Guarantee; Section 26.490.070.A.7., Public Facilities and Public Infrastructure Guarantee; and Section 26.490.070.8., Storm Water and Drainage Improvements Guarantee, of the Regulations, City is entitled to certain financial guarantees to ensure (i) that the required landscaping is implemented and maintained; (ii) that the Aspen Times Page 1 of 22 building is successfully preserved and restored; (iii) that required public infrastructure is installed; and (iv) the successful implementation of required storm water and drainage infrastructure, and Owner is prepared to provide such guarantees as hereinafter set forth; and WHEREAS, contemporaneously with the execution and recording of this Agreement, City and Owner have recorded the Approved Plan Set as Reception No. and City and Owner have executed and recorded the Final Plat in Plat Book at Page as Reception No. and the Vacation Plat in Plat Book at Page as Reception No. , all in the Real Estate Records of the Clerk and Recorder of Pitkin County, Colorado (all recording information in this Agreement refers to the Real Estate Records of the Clerk and Recorder of Pitkin County, Colorado). NOW, THEREFORE, for and in consideration of the foregoing provisions, the mutual covenants and agreements herein contained, the approval of the Application and approval and acceptance of the Approved Plan Set by City and the approval, execution and acceptance of the Final Plat and Vacation Plat for recordation by City, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: ARTICLE I PURPOSE AND EFFECT OF DEVELOPMENT AGREEMENT 1.1 Purpose. The purpose of this Agreement is to set forth the complete and comprehensive understanding and agreement of the parties hereto with respect to the preservation and restoration of a portion of the existing Aspen Times ("Aspen Times") building; the development of an addition thereto; various changes to existing rooms and amenities within the Hotel Jerome ("Hotel Jerome" or "Hotel") the reconfiguration and enhancement of the Hotel's exterior courtyard; and various improvements to the Property's Main Street, Monarch Street and Bleeker Street streetscapes (collectively, the "Project"), and to enumerate all terms and conditions under which such activities may occur. 1.2 Effect on Prior Instruments and Approvals. In the event of any conflict or inconsistency between the provisions of this Agreement, together with the Approved Plan Set, Final Plat and Vacation Plat (the "Current Instruments and Approvals"), and any prior agreements, land use approvals, and plats, whether or not recorded (the "Prior Instruments and Approvals"), affecting the Property, the provisions of the Current Instruments and Approvals shall supersede and control. Furthermore, in the event of any inconsistency between the provisions of the land use approvals described in Section 2.1 below (the "Current Land Use Approvals") and the provisions of the Prior Instruments and Approvals, the provisions of the Current Land Use Approvals shall supersede and control. ARTICLE II LAND USE APPROVALS 2.1 Approval Actions. The following land use approvals have been granted to Owner for the development of the Property: (a) Historic Preservation Commission Resolution No. 37, Series of 2014, approved December 10, 2014 and recorded December 19, 2014 as Reception No. 616145 Page 2 of 22 recommended that the City Council grant (i) Planned Development — Project Review approval; (ii) Subdivision approval; (iii) Conceptual Major Development approval; (iv) Conceptual Commercial Design Review approval; (v) Growth Management approval; and (vi) Demolition approval for the Project's Site Specific Development Plan. (b) City Council Ordinance No. 1, Series of 2016, approved May 9, 2016 and recorded June 8, 2016 as Reception No. 629856 granted (i) Planned Development - Project Review approval, (ii) Subdivision approval, (iii) Conceptual Major Development approval, (iv) Conceptual Commercial Design Review approval, (v) Growth Management approval, and (vi) Demolition approval for the Project's Site Specific Development Plan. The Ordinance also approved the partial vacation of the alley in Block 79, City and Townsite of Aspen. (c) Historic Preservation Commission Resolution No. 34, Series of 2016, approved November 30, 2016 and recorded December 12, 2016 -as Reception No. 634522 granted (i) Planned Development - Detailed Review approval; (ii) Final Major Development approval; and (iii) and Final Commercial Design Review approval for the Project's Site Specific Development Plan. (d) The Development Order ("Development Order") for the Current Land Use Approvals was issued by the Aspen Community Development'Department ("COMDEV") on December 2, 2016, with an effective date of December 8 2016. 2.2 Approvals Control. The provisions of the Current Land Use Approvals, including the Development Order, are incorporated herein and made a part of this Agreement. To the extent that matters addressed in the Current Land Use Approvals, including the Development Order, are. also addressed in this Agreement, the provisions of the Current Land Use Approvals, including the Development Order, shall control: 2.3 Dimensional Requirements. Exhibit B to Historic Preservation Commission Resolution No. Series of 2016, established and approved the following dimensional requirements for the Project. (a) Gross Lot Area 54,372 Sq. Ft. (b) Net Lot Area 49,304 Sq. Ft. (c) Maximum Height Aspen Times Building False Front 21.5 Feet Ridge 16.0 Feet Aspen Times Addition Main Street Sidewalk 33.5 Feet Existing Hotel Jerome 54.5 Feet (d) Minimum Floor Height Aspen Times Building Floor to Ceiling 11.25 Feet Page 3 of 22 Aspen Times Addition First Floor to Floor 10.60 Feet Upper Floor to Ceiling 9.0 Feet (e) Maximum Allowable FAR/Floor Area Cumulative 2.5:1/123,149 Sq. Ft. Lodge 2.04:1/100,316 Sq. Ft. Commercial 0.46:1/22,833 Sq. Ft. (f) Lodge Net Livable Area 589,278 Sq. Ft. (g) Average Lodge Unit Net Livable Area 572 Sq. Ft. (h) Maximum Lodge Unit Net Livable Area* ` 2,079 Sq. Ft. (i) Lodge Units/Keys/Bedrooms 96/102/102 (j) Commercial Net Leasable Area 26,680 Sq. Ft. (k) Public Amenity Area 9,185 Sq. Ft. Percent 18.6 (1) Minimum Off -Street Parking 47 Spaces For the Aspen Times addition only. 2.4 Vested Rights. Under the Development Order, the right to undertake and complete the development and use of the Property, pursuant to the terms and conditions of the Approved Plan Set is vested until December 9, 2019 and shall not be altered, impaired, diminished or delayed by any subsequent zoning or land use action that is prohibited by Section 24-68-105(1) of the Colorado Revised Statutes O'CRS"). In accordance with the requirements of CRS Section 24-68-103(b), a properly noticed public hearing concerning the establishment of such vested rights for the Property was conducted on November 30, 2016. As authorized by CRS Section 24-68-102(4)(a), City and Owner agree that the Site Specific Development Plan for the Property consists of and includes, but is not limited to, the number, size, and configuration of the Project's lodge units; the size and configuration of its associated commercial spaces and other areas of the Project;,its parking; all matters set forth in the various Approvals referenced in Section 2.1 above; the Approved Plan Set recorded as Reception No. , the Final Plat recorded as Reception No. ; the Vacation Plat recorded as Reception No. ; this Agreement; and all other documents recorded concurrent herewith. For purposes of this Section 2.4, this Agreement shall be considered a "development agreement" as that term is used in CRS Section 24-68-104(2). ARTICLE III DEVELOPMENT REQUIREMENTS AND RESTRICTIONS Page 4 of 22 3.1 Proiect Components. The Project approved pursuant to the Current Instruments and Approvals and the Current Land Use Approvals consists of the following principal components: (a) Aspen Times. The Project's Aspen Times component consists of the preservation and restoration of the historically significant portion of the existing Aspen Times building; the construction of a new 3 -story addition thereto; and the construction of a basement beneath both the historic portion of the building and the addition. The restored Aspen Times building and the addition will contain approximately 4,397 square feet of commercial net leasable area within its basement and ground floor. Its second and third floors will each contain one (1) three-bedroom lodge suite with a living/dining/kitchen area containing a sleep sofa. Each suite's three (3) bedrooms and its living/dining/kitchen area will be configured as "lock - offs". Pursuant to Section 26.470.100.A. I., Employee Generation, of the Regulations, the lodge suites' lock -off bedrooms and living/dining/kitchen areas are considered separate lodge units for regulatory purposes. As a result, the Project's Aspen Times component will contain a total of eight (8) lodge units containing eight (8) keys and eight (8) bedrooms. The two lodge suites will each contain a net livable area of approximately 2,079 square feet. The Project's Aspen Times component will contain a cumulative floor area of approximately 9,169 square feet. The Aspen Times component will contain approximately 5,596 square feet of lodge floor area and approximately 3,573 square feet of commercial floor area. Minor changes to the Aspen Times component's commercial net leasable area and lodge and commercial floor areas may be approved by COMDEV provided that, when combined with the commercial net leasable area and lodge and commercial floor areas of the Project's Hotel Jerome component, they do not exceed the allowable commercial net leasable area and floor areas set forth in Section 2.3 above. (b) Hotel Jerome. The Project's Hotel Jerome component consists of various internal changes to the existing building. These changes include the conversion of the Hotel's existing second floor fitness room to a one -bedroom lodge suite; the relocation of the fitness room to the Hotel's basement; the expansion of one (1) existing lodge unit on each of the Hotel's third and fourth floors into an adjacent linen closet; a minor enlargement of the retail/reception area in the existing basement spa; the replacement of the existing exterior doors in the Hotel's Gallery room; and the addition of miscellaneous closets and millwork throughout the Hotel. The Hotel Jerome will contain a total of ninety-four (94) lodge units with ninety-four (94) keys and ninety-four (94) bedrooms, inclusive of the converted fitness room. The ninety-four (94) lodge units will contain a total net livable area of approximately 54,120 square feet. The Hotel will contain approximately 16,283 square feet of commercial net leasable area. Its cumulative floor area will total approximately 113,980 square feet. The Hotel will contain approximately 94,720 square feet of lodge floor area and approximately 19,260 square feet of commercial floor area. Minor changes to the Hotel Jerome component's commercial net leasable area and lodge and commercial floor area may be approved by COMDEV provided that, when combined with the commercial net leasable area and lodge and commercial floor areas of the Project's Aspen Times component, they do not exceed the allowable commercial net leasable area and floor areas set forth in Section 2.3 above. Page 5 of 22 (c) Courtyard/Streetscane. The Hotel Jerome's existing courtyard will be expanded and enhanced. Its internal circulation will be revised to meet applicable ADA requirements, and a new larger pool and pool deck will be installed. The existing outdoor dining area and adjacent lawn will also be expanded. The Project's Main Street streetscape will be modified to include a new vehicular drop-off area adjacent to the Hotel's entrance. The portion of Mill Street located adjacent to the Property will be improved to include the applicable requirements of city's Engineering Department's Mill Street Complete Street Design (the "Mill Street Complete Street Design'). An improved sidewalk will be installed on Bleeker Street at the entrance to the Hotel's parking garage, and an ADA -compliant ramp will be installed in the Monarch Street sidewalk adjacent to Carl's Pharmacy and the alley. 3.2 Project Phasing. The Project Components described in Section 3.1 above, and the various improvements included therein, may be undertaken in phases. If phased, each Project Component, and the various improvements therein, shall be designed to function as a complete development and shall not be reliant on subsequent phases. All required improvements to public infrastructure, including storm water and drainage improvements, and the payment of applicable impact fees shall be accomplished concurrent with the undertaking of any initial Project phase. 3.3 Growth Management. (a) Reconstruction Credits. The existing Aspen Times building contains 5,538 square feet of commercial net leasable area, a reconstruction credit for which is provided pursuant to Section 26.470.040.6., Remodeling or Replacement of Existing Commercial or Lodge Development, of the Regulations. Pursuant to Section 26.470.130.A., Reconstruction Limitations, Owner may demolish and delay reconstruction of the building's existing net leasable area for a period not to exceed one (1) year. A complete building permit application must be submitted on or before the one-year anniversary of the issuance of the demolition permit to maintain the reconstruction credit. If Owner elect's to phase the reconstruction of all or part of the reconstruction credit, a building permit application for any such phased reconstruction shall be submitted on or before the one-year anniversary of the issuance of the demolition permit. (b) Growth Management Allotments. A growth management allotment of eighteen (18) lodge pillows has been granted for the Project's nine (9) new lodge units from the 2014 growth management year. Pursuant to Section 26.470.110.D., Expiration of Growth Management Allotments, the Project's lodge allotment shall expire on the day after the three-year anniversary of the effective date of the Development Order referenced in Section 2.1(d) above unless a complete building permit application therefor is submitted to City. 3.4 Affordable Housing. The Community Development Department has determined that the Project will generate 2.47 Full -Time Equivalent employees ("FTEs"). Pursuant to Section 26.470.070.1., Enlargement of a Historic Landmark for Commercial, Lodge or Mixed - Use Development, of the Regulations, the generation of up to four (4) employees does not require the provision of affordable housing mitigation. As a result, no affordable housing mitigation for the Project is required. Page 6 of 22 3.5 Lodee/Commercial Uses. All permitted commercial uses within the CC, Commercial Core, zone district, as amended, shall be considered lodge "associated commercial uses ", and shall be allowed in the restored Aspen Times building and the addition thereto. 3.6 Construction in Accordance with Building Codes and Plans. Construction of the Project, and all its component parts, shall be accomplished in substantial compliance with adopted City building and accessibility codes in effect at the time a building permit application is submitted, and with the Approved Plan Set. (a) J -Bar ADA Accessibility Requirement. Owner shall at all times maintain an ADA accessible pathway from the Hotel Jerome's lobby entrance to the J -Bar. The required pathway is depicted on Exhibit B attached hereto. 3.7 Engineering Department Requirements The Project shall comply with all sections of Title 21, Streets, Sidewalks and Other Public Places, of the Aspen Municipal Code, and all construction and excavation standards published by City's Engineering Department. (a) Drainage. The Project shall meet the requirements of City's Urban Runoff Management Plan ("URMP") and Title 29 Engineering Design Standards, of the Aspen Municipal Code. A full major drainage report and plan meeting the requirements of the URMP and Engineering Design Standards must be submitted with the building permit application for the Project. The report and plan must provide ° for conveyance of the 100 -year event from the site to City's storm water system. All Best Management Practices ("BMP") which treat on-site runoff must be placed entirely with the Properties boundaries. A BMP placed in the right-of-way must have special approval from City's Engineering Department, and must treat right-of-way runoff that is tributary to the BMP. Existing downspout and on-site storm sewer pipe routing shall be investigated and confirmed prior to building permit issuance. (b) Snow Storage. A minimal functional area equaling thirty percent (30%) of the courtyard's paved area shall be provided contiguous thereto for snow storage. For heated areas, the, snow storage area may be reduced to ten percent (10%). (c) Sidewalk, Curb and Gutter. All sidewalk, curb and gutter shall comply with the requirements of Title 21, Streets, Sidewalks and Other Public Places, and Title 29, Engineering Design Standards, of the Aspen Municipal Code. The Project's Courtyard/Streetscapecomponent shall incorporate the applicable requirements of City's Engineering Department's Mill Street Complete Street Design for the portion of the Mill Street located adjacent to the Property. Alterations to the Mill Street Complete Street Design may be necessary to tie into the Project's proposed conditions. (d) Construction Management Plan. The building permit application for the Project shall include a Construction Management Plan ("CMP") for review and approval by the Engineering Department. The CMP shall include a planned sequence of construction that minimizes construction impacts. The CMP shall comply with all construction management requirements in effect at the time of building permit submittal, and shall address, at a minimum, noise, construction traffic and parking management, construction staging, and fugitive dust control. Page 7 of 22 3.8 Water/Utilities Department Requirements. The Project shall comply with City's Water System Standards, with Title 25, Utilities, and the applicable requirements of Title 8, Buildings and Building Regulations, of the Aspen Municipal Code, as required by the City of Aspen Water Department. All water System Distribution Standards in place at the time of building permit submittal shall apply, and all tap fees shall be assessed per applicable codes and standards. Utility placement and design shall meet adopted City standards. 3.9 Aspen Consolidated Sanitation District Requirements. Sanitary sewer service is contingent upon compliance with the Aspen Consolidated Sanitation District's ("ACSD") rules, regulations and specifications which are on file at the ACSD office. (a) ACSD shall review the Project's approved drainage plans to assure that no clear water connections, including roof, foundation, perimeter and patio drains, are made to the sanitary sewer system. (b) On-site sanitary sewer utility plans shall require ACSD approval. (c) Old services lines shall be excavated and abandoned at the main sanitary sewer line in accordance with specific ACSD requirements. (d) Soil nails are prohibited in right-of-ways above ACSD main sanitary sewer lines and within three feet (3') vertically below suchlines. (e) Subject to the provisions of the f nal plat, permanent improvements are prohibited in sewer easements or right-of-ways. Landscaping plans shall require approval by ACSD where soft and hard landscaping may impact public right-of-ways or easements to be desiccated to ACSD. (f) One tap is allowed for each. building. Shared service line agreements shall be required where more than one unit is served by a single service line. (g) Below grade development; may require installation of a pumping system. (h) Plumbing plans for pool and spa areas shall require ACSD approval of the drain size. (i) Oil and grease interceptors shall be provided for all new and remodeled food processing establishments. Oil and sand separators shall be provided for public vehicle parking garages and vehicle maintenance facilities. Driveway entrance drains shall not be routed to ACSD's sanitary sewer system but shall be mitigated in accordance with City's Urban Runoff Management Plan. Elevator shaft drains shall flow thru oil and sand interceptors. Plans for interceptors, separators and containment facilities require ACSD review and approval prior to building permit submittal. 0) Glycol heating and snow melt systems shall be designed to prohibit any discharge of glycol to any portion of the public and private sanitary sewer system. Glycol storage areas shall have containment facilities approved by ACSD. (k) Owner shall provide the location and size of all interceptors to ACSD prior to ACSD's approval of service to the Project. Page 8 of 22 (1) Where additional development would produce flows that would exceed the planned reserve capacity of the existing system (collection system and/or treatment system), an additional proportionate fee will be assessed to eliminate the downstream collection system or treatment capacity constraint. Additional proportionate fees would be collected over time from all development in the area of concern to fund the needed improvements. (m) Where additional development would produce flows that would overwhelm the planned capacity of the existing collection system and/or treatment facility, the development will be assessed fees to cover the cost of replacing the entire portion of the system that would be overwhelmed. ACSD would fund the cost of constructing reserve capacity in the area of concern (only for the material cost difference for large line). (n) Owner shall provide average and peak flow data as well as service size prior to final design. All ACSD total connection fees must be paid prior to issuance of a building permit. (o) Owner shall fund the relocation of the existing manhole located in the vacated portion of the alley in Block 79, City and Townsite of Aspen. (p) Amendments to the above requirements agreed to in writing_ by Owner and ACSD shall supersede the sanitation requirements listed above. 3.10 Environmental Health Department Requirements. Owner shall obtain Special Review approval from the Environmental Health Department pursuant to Title 12, Chapter 12. 10, Space Allotment for Trash and Recycle Storage, of the Aspen Municipal Code prior to issuance of a building permit in order to eliminate the required trash/recycle area for the Project's Aspen Times component. 3.11 Transportation Department Requirements. Owner shall implement the TDM and MMLOS measures contained in the Transportation Impact Analysis attached hereto as Exhibit C. 3.12 Parks Department Reauirements. (a) Tree removal permits are required prior to issuance of a building permit for any demolition or significant. site work. Mitigation for tree removal shall be met by a cash - in -lieu payment, by on-site plantings, or a combination of both as provided for in Title 13, Chapter 13.20, Tree Removal Permits, of the Aspen Municipal Code. (b) A tree protection plan depicting the drip lines of each individual tree or group of trees which is to remain on the Property shall be included in the building permit submittal for any demolition or significant site work. The plan shall depict the location of tree protection zones which shall be approved by the City Forester. The plan shall prohibit excavation; the storage of building materials, construction and equipment; and access over or through the protection zones by foot or vehicles. (c) Silva cells are required in both the Mill Street and Main Street rights-of- way. Irrigation is required for each tree. Permeable pavers are acceptable in the rights-of-way, but may require a concrete edge around tree wells. Tree grates will require break away design Page 9 of 22 for future tree growth. A minimum of thirty inches (30") of good soil is required for all tree wells. Electric power connections/stations must be outside of the root balls of the trees. Street tree variety must be Norway Maple (Emerald Queen). 3.13 Fire Mitigation. The Project shall comply with all codes adopted by the Aspen Fire Protection District. Mitigation provisions shall be reviewed and approved by the Fire Marshall. 3.14 Outdoor Lighting and Signage. All outdoor lighting and signage shall meet the requirements of Section 26.575.150, Outdoor Lighting, and Chapter 26.510, Signs, of the Regulations. The Main Street fagade of the Aspen Times building shall include the existing signage. This signage is exempt from the sign allotment calculations of the Regulations. All other signage shall be approved pursuant to the Regulations mi effect at the time of application for a sign permit. 3.15 Material Representations. All material representations and commitments made by Owner in connection with the Project's development approvals contained or referenced herein, whether made in public hearings or in documentation presented before the Historic Preservation Commission or the City Council, are hereby incorporated in said Project's development approvals and such representations and commitments shall be complied with by Owner as if fully set forth herein, unless amended by an authorized entity. 3.16 Park Development Impact Fee. Before a building permit is issued for the Project, Owner shall pay to City a Park Development Impact Fee for the Project's nine (9) additional lodge units in an amount to be determined at; building permit issuance based on the Regulations in effect at that time. No impact fee .is required, for the Project's net leasable commercial square footage as no net new commercial square footage is proposed. 3.17 Air Ouality Impact Fee. Before abuilding permit is issued for the Project, Owner shall pay to City an Air Quality Impact Fee for the Project's nine (9) additional lodge units in an amount to be determined at building permit issuance based on the Regulations in effect at that time. No impact fee is required for the Project's net leasable commercial square footage as no net new commercial square footage is proposed. ARTICLE IV PUBLIC AND PRIVATE IMPROVEMENTS 4.1 Prior to issuance of a final Certificate of Occupancy for the Project, Owner shall accomplish certain public and private improvements for which performance guarantees are required pursuant to Section 26.490.070, Performance Guarantees, of the Regulations. The specific improvements include the following: (a) Landscape Improvements. The Project's landscape improvements are depicted on Sheet L 1 ("Sheet L I") of the recorded Approved Plan Set. (b) Aspen Times Restoration. Plans and elevations for the restoration of the portion of the Aspen Times building to be preserved are depicted on Sheets A1.1 through A5.2 of the recorded Approved Plan Set. Page 10 of 22 (c) Public Infrastructure Improvements. The Project's public infrastructure improvements are depicted on Sheets C 1 through C7 of the recorded Approved Plan Set. (d) Storm Water and Drainage Improvements. The Project's storm water and drainage improvements are depicted on Sheets C 1 through C7 of the recorded Approved Plan Set. The required performance guarantees are addressed in Section 5.2 below. ARTICLE V FINANCIAL ASSURANCES 5.1 Site Protection/Enhancements Requirements. (a) Site Protection Guarantee. Before the issuance of a Building Permit for the Project, Owner shall deposit with Pitkin County Title, Inc. ("Escrow Agent") the sum of One Hundred and Fifty Thousand U.S. Dollars ($154,000) in cash or wired funds (the "Site Protection Escrow Funds") and will execute an Escrow Agreement and Instructions with the Escrow Agent which recites as follows: In the event construction work on the Project shall cease for ninety (90) days or longer ("Work Stoppage") prior to a final inspection by City of the work authorized by a foundation/structural frame permit and cessation of such construction work continues for a period of one hundred twenty (120) days'after notice from City to Owner specifying the subject work in reasonable detail, or if such Work Stoppage cannot reasonably be cured within such one hundred twenty (120) day period and Owner fails to commence and proceed diligently to cure such Work Stoppage within a reasonable time period, then City, in its reasonable discretion, may draw upon the Site Protection Escrow Funds from time to time as needed for the purposes of protecting and securing the Project site and improvements from damage by the elements and/or from trespass by unauthorized persons and for purposes of improving the Project site to a safe condition such that it does not become an attractive nuisance or otherwise pose a threat to neighbors or other persons. City shall use commercially reasonable efforts to not adversely impact the operation of, or access to the Project by Owner. The Site Protection Escrow Funds or any remaining balance thereof shall be returned to Owner upon completion by City of a final inspection of the work authorized by the Foundation/Structural Frame Permit on the Project; provided, however, that the Community Development Director shall promptly authorize partial releases, in increments of no less than twenty-five percent (25%) of the original surety, of the Site Protection Guarantee as portions of the Project protection, security, and safety are reduced. City shall be a named party to such Escrow Agreement with the express right and authority to enforce the same from time to time. (b) Site Enhancement Guarantee. Before the issuance of a Building Permit for the Project, Owner shall also deposit with Escrow Agent the sum of One Hundred and Fifty Thousand U.S. Dollars ($150,000) in cash or wired funds (the "Site Enhancement Escrow Funds") and will execute an Escrow Agreement and Instructions with the Escrow Agent which recites as follows: Page 1 I of 22 In the event construction work on the Project shall cease for ninety (90) days or longer ("Work Stoppage") prior to a final inspection by City of the work authorized by any permit or phase of permit for the Project and cessation of such construction work continues for a period of one hundred twenty (120) days after notice from City to Owner specifying the subject work in reasonable detail, or if such Work Stoppage cannot reasonably be cured within such one hundred twenty (120) day period and Owner fails to commence and proceed diligently to cure such Work Stoppage within a reasonable time period, then City, in its reasonable discretion, may draw upon the Site Enhancement Escrow Funds from time to time as needed for the purposes of improving the appearance of any construction work already completed on the Project site and for installing any public improvements on or adjacent to the Project site. City shall use commercially reasonable discretion with respect to the manner of improving the appearance of construction work in progress as well as determining the public improvements to be installed. City shall use commercially reasonable efforts to not adversely impact the operation of, or access to the Project by Owner. The Site Enhancement Escrow Funds or any remaining balance thereof shall be returned to Owner upon completion by City of a final inspection of the work authorized by the Foundation/Structural Frame Permit on the Project; provided, however, that the Community Development Director shall promptly authorize partial releases, in increments of no less than twenty-five percent (25%) of the original surety, of the Site Enhancement Guarantee as portions of the Project pertaining to its appearance, or the installing of any public improvements on or adjacent to the Project are substantially performed. City shall be a named party to such Escrow Agreement with the express right and authority to enforce the same from time to time. 5.2 Performance Guarantees. 5.2.1 Public and Private Improvements. (a) Public and Private Improvements Itemized. (i) Itemized costs for the Project's Landscape Improvements are provided in Exhibit D attached hereto and incorporated herein by this reference. (ii) Itemized costs for restoration of the Aspen Times building which is to be preserved are provided in Exhibit E attached hereto and incorporated herein by this reference. (iii) Itemized costs for the Project's Public Infrastructure Improvements are provided in Exhibit F attached hereto and incorporated herein by this reference. (iv) Itemized costs for the Project's Storm Water and Drainage Improvements are provided in Exhibit G attached hereto and incorporated herein by this reference. (b) Security for Landscape Improvements. Before the issuance of a Building Permit for the Project, Owner shall also deposit with Escrow Agent Four Hundred and Seventeen Thousand and Sixty -Seven U.S. Dollars ($417,067) in cash or wired funds (the Page 12 of 22 "Landscape Escrow Funds") as security for the installation and the continued maintenance and replacement of the Landscaping Improvements ("Landscape Improvements") for a period of two (2) years after installation. The Landscape Improvements are described in Sheet L1 (see Section 4.1 (a) above). The Landscape Escrow Funds shall constitute the total of all security required for the installation and the continued maintenance and replacement of all the Landscape Improvements. (i) Installation. (a) As portions of the Landscape Improvements are completed, City shall promptly inspect them for compliance with Sheet L I. City shall promptly approve the Landscape Improvements if they conform to Sheet U. . Each time City approves the Landscape Improvements, or portions thereof as the case may be, City will promptly deliver written approval of such Landscape Improvements to Owner. (b) City may reject the Landscape Improvements if they do not conform to Sheet L 1; provided, however, that notice of any such rejection shall be promptly delivered to Owner and Owner shall thereafter have reasonable opportunity to cure not to exceed one hundred twenty (120) days unless such rejected item(s) isnot reasonably capable of being cured within such 120 -day period in which case Owner shall use commercially reasonable efforts to cure as soon thereafter as is reasonably practicable. After Owner performs cure measures, City will promptly inspect the LandscapeImprovements previously rejected. If City finds that the previously rejected Landscape Improvements shave been completed as per Sheet Ll, City shall promptly approve same and promptly deliver written approval. of such Landscape Improvements to Owner. (c) If City finds that the Landscape Improvements previously rejected have not been cured as per Sheet L1, then - City and Owner shall have fourteen (14) days after the date of delivery of City's finding to Owner, to reach written resolution regarding the Landscape Improvements rejected by City. If Owner and City are not able to reach resolution within such 14 -day period, then City and Owner agree to submit the dispute to the Board of Appeals and Examiners of the City of Aspen (hereinafter, "Board"). Board shall base its decision upon substantial evidence presented. Board's finding would be subject to review pursuant to C.RC.P. Rule 106(a)(4) in accordance with the laws of the State of Colorado. (d) If Board finds that City's determination was correct and Owner does not appeal under C.R.C.P. Rule 106(a)(4), then Owner shall have a commercially reasonable period of time to correct the Landscape Improvements in order that they conform to Sheet L I. City will promptly inspect Owner's corrective action for compliance with Sheet L I. If the Landscape Improvements conform to Sheet L1, then City will approve same and promptly deliver written approval of such Landscape Improvements to Owner. (e) If City rejects such corrective action, then City will promptly notify Owner of such rejection and no sooner than thirty (30) days after delivery of such notice to Owner, City may cause the rejected portion of Landscape Improvements to be completed as per Sheet L 1 and the costs of such corrective action shall be paid from the Escrow Funds. Page 13 of 22 (f) In the event that Board finds in favor of Owner, then the Landscape Improvements in issue shall immediately and automatically be deemed complete as per Sheet L 1 without requirement of any further action. (g) If Owner appeals under C.R.C.P. Rule 106(a)(4), all City action regarding the Landscape Improvements in issue shall be deemed immediately and automatically stayed pending final determination by the Court, including any appeals. (ii) Final Inspection. (a) Upon expiration of the 2 -year period, City will promptly conduct final inspection of the Landscape Improvements to determine if they have survived. If the Landscape Improvements have survived, City shall promptly deliver notice of final approval to Escrow Agent and Escrow Agent shall immediately release all remaining Landscape Escrow Funds to Owner. (b) If any of Landscape Improvements have not survived, then processes and procedures set forth in Section 5.2.1 (b) (i) including, without limitation, those pertaining to inspection, approval, rejection, notice, cure, resolution, appeal, submission of dispute to Board, appeals per C.R.C.P. Rule 106(a)(4), and other similar provisions shall apply. (iii) Extensions. Periods of time prescribed under this Section 5.2.1 (b) shall be extended as reasonably necessary to accommodateseasonal conditions that prevent or impair completion or cure of Landscape Improvements or inspection of same. Upon expiration of any such extended period of time and final inspection and approval by City, all remaining Landscape Escrow Funds shall be promptly released and delivered to Owner. (iv) Force Maiure. If there are delays in performance hereunder due to abnormal adverse weather conditions, acts of God, casualties or any causes beyond the control of Owner or City, or by other causes which reasonably justify delay, then the affected time period or deadline shall be extended for such reasonable period of time as shall be agreed upon by the parties. No consent to extend for the preceding reasons or causes shall be unreasonably withheld, conditioned or delayed. (v) Early Release of Funds. Notwithstanding the 2 -year term of the escrow period, as portions of Landscape Improvements are completed, City, in its discretion, may release to Owner portions of the estimated costs of the Landscape Improvements as itemized on Exhibit D, prior to, expiration of the 2 -year escrow period. (vi) Commerciallv Reasonable. All determinations or other action by City shall be made and undertaken in a commercially reasonable manner. (vii) Exhaustion of Section 5.2.1(b) Requirements. It is the express understanding of the parties that compliance with the procedure set forth in Article VI below pertaining to the procedure for default and amendment of this Agreement shall be required with respect to the enforcement and implementation of the financial assurances and guarantees to be provided by Owner as set forth above; provided, however that all procedures and requirements of this section 5.2.1 (b) shall be exhausted by City before any action under Article VI below is taken by City with regard to matters pertaining to this Section 5.2.1 (b). Page 14 of 22 (c) Security for Other Improvements. This Section 5.2.1 (c) shall not apply to Landscape Improvements, which shall be governed by the preceding Section 5.2.1 (b). Before the issuance of a Building Permit for the Project, Owner shall deposit with Escrow Agent Three Million Three Hundred and Forty -Six Thousand One Hundred and Eighty -Six U.S. Dollars ($3,346,186) in cash or wired funds ("Improvements Escrow Funds") as security for the completion of the Public and Private Improvements ("Improvements") itemized on Exhibits E, F & G attached hereto. It is further agreed that the Improvements Escrow Funds described above shall constitute the total of all security required for completion of all Improvements which Owner is required to perform. For purposes hereof "Substantially Complete" or "Substantial Completion" shall mean that City has inspected the Improvements and has reasonably determined that they are Substantially Complete in compliance with applicable specifications and has issued a Certificate of Substantial Completion or similarly intended form of approval. Subject to provisions below in Section 5.2.1 (c) including, without_ limitation, partial release provisions, the Improvements Escrow Funds representing the cost of part or all of the Improvements (as itemized on Exhibits E, F & G) which are Substantially Complete shall be immediately released to Owner. If there is any balance remaining in the Escrow Funds after all partial releases and all Improvements are Substantially Complete, all such remaining funds shall be immediately released to Owner upon delivery of written notice to Escrow Agent by Owner directing such delivery. (d) Escrow Release- Provisions. Upon delivery by Owner of written notice that the Improvements or any part or parts thereof are complete and ready for inspection ("Request for Inspection") along with a showing of the value of the Improvements or part(s) thereof completed, City will, within fourteen (14) days, inspect the Improvements identified in the Request for Inspection, to determine whether or not such Improvements are Substantially Complete. If City finds that the Improvements, identified in the Request for Inspection are Substantially Complete, City shall, within seven (7) days, deliver a written Certificate of Substantial Completion to Owner and Escrow Agent. Upon receipt of a Certificate of Substantial Completion for Improvements identified in the Request for Inspection, the Escrow Agent shall immediately release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City has certified as Substantially Complete. Pursuant to Section 26.445.070(C)(4) of the Land Use Code, ten percent (10%) of the value of the Improvement(s) set forth in City's Certification of Substantial Completion shall be retained by the Escrow Agent. If no Certificate of Substantial Completion is delivered within such 7 -day period, all Improvements identified in the Request for Inspection shall automatically be deemed Substantially Complete without requirement of any further action. Owner need only provide written notice to Escrow Agent, with a copy to City, that no Certificate of Substantial Completion was delivered. Such notice to Escrow Agent shall be deemed the equivalent of a Certificate of Substantial Completion from City and upon receipt of such notice, Escrow Agent is authorized to promptly release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City is so deemed to have certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. If the cost to Substantially Complete the Improvements, or part(s) thereof, is less than the corresponding amount itemized in each of Exhibits E, F & G attached hereto, and City certifies that such Improvements, or part (s) thereof, are Substantially Complete, Escrow Agent Page 15 of 22 shall immediately release to Owner the total itemized amount (per Exhibit E, F &G) corresponding to all Improvements which City has certified as Substantially Complete minus the ten percent (10%) required to be withheld pursuant to Section 26.445.070(C)(4) of the Land Use Code. If City finds that all or a portion of the Improvements identified in the Request for Inspection are not Substantially Complete, City shall furnish a letter of potential deficiencies to Owner and Escrow Agent within fourteen (14) days of such finding. Any such letter of potential deficiencies shall specify which Improvements identified in the Request for Inspection are potentially deficient. If a letter of potential deficiencies is issued which specifies a portion of the Improvements identified in the Request for Inspection as potentially deficient, then all Improvements identified in such Request for Inspection which are not specified as being potentially deficient shall automatically be deemed Substantially Complete without requirement of any further action. Owner need only provide written notice to Escrow Agent with a copy to City that the Improvements not specified in the letter of potential deficiencies are Substantially Complete. Such notice to Escrow Agent shall be deemed the equivalent of a Certificate of Substantial Completion from City and upon receipt of such notice, Escrow Agent is authorized to immediately release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City is so deemed to have certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. If no letter of potential deficiency is furnished within the said 14 -day -period, all Improvements identified in the Request for Inspection shall automatically be deemed Substantially Complete without requirement of any further action. Owner.need only provide written notice to Escrow Agent, with a copy to City, that no letter of potential deficiency was provided as required hereunder. Such notice to Escrow Agent shall be deemed the equivalent of a Certificate of Substantial Completion from; City and upon receipt of such notice, Escrow Agent is authorized to promptly release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City is so deemed to have certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. With respect to any Improvements identified in the Request for Inspection that are specified as potentially deficient in a letter of potential deficiencies as provided hereunder, Owner shall have a reasonable period of time to cure any such potential deficiencies. After performing cure measures, Owner shall submit to City a Request for Inspection, along with a showing of the cost of the Improvements completed. City will, within fourteen (14) days, inspect the Improvements previously identified as potentially deficient to determine whether or not such Improvements have been made Substantially Complete. If City reasonably finds that the Improvements previously identified as potentially deficient have been made Substantially Complete, City shall, within seven (7) days, deliver a Certificate of Substantial Completion to Owner and Escrow Agent. In such event, Escrow Agent shall release to Owner within five (5) days, the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City has certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. If City fails to respond to Owner's Request for Inspection regarding cure measures taken as to previously identified potentially deficient Improvements within such 7 -day period, all such Improvements identified in the Request for Page 16 of 22 Inspection shall automatically be deemed Substantially Complete. Owner need only provide written notice to Escrow Agent, with a copy to City, that no letter of potential deficiency was provided as required hereunder. Such notice to Escrow Agent shall be deemed the equivalent of a Certificate of Substantial Completion from City and upon receipt of such notice, Escrow Agent is authorized to promptly release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City is so deemed to have certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. If City reasonably finds that the Improvements previously identified as potentially deficient have not been made Substantially Complete then City. and Owner shall have fourteen (14) days after the date of City's finding, to reach written resolution regarding the Improvements determined by City to be potentially deficient. If Owner and. City are not able to reach resolution within such 14 -day period then City and Owner agree to submit the. dispute to the Board of Appeals and Examiners of the City of Aspen (hereinafter, "Board").. Board shall base its decision upon substantial evidence presented. Board's findings shall be subject to review pursuant to C.R.C.P. Rule 106(a)(4) in accordance with the laws of the State of Colorado. If Owner has not applied to the District Court for review of the, determination of the Board within the time set forth pursuant to C.R.C.P. 106(a)(4) and has not obtained a Certificate of Substantial Completion from City regarding the potentially deficient Improvements within such time or such additional time as may .be reasonably needed by Owner under the circumstances, City may cause the potentially deficient Improvements to be Substantially Complete and the costs of making the potentially deficient Improvements Substantially Complete shall be paid from the Escrow Funds; provided; however, that in so doing, City's expenses shall be commercially reasonable. If City's costs are less than the itemized amounts for such Improvements (per Exhibit E F & G) the difference remaining shall be promptly paid to Owner. If Board finds that City's determination was correct, then Owner, in addition to appeal rights, shall have the right to take such corrective action as may be reasonably necessary to correct the Improvements found by Board to be potentially deficient. Upon completion of such corrective action, Owner will submit to City a Request for Inspection. If City determines that Improvements found by Board to be potentially deficient have been made Substantially Complete then City shall, within seven (7) days, deliver a Certificate of Substantial Completion to Owner and Escrow Agent. In such event, Escrow Agent shall release to Owner within five (5) days, the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City has certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. If City determines that Improvements found by the Board to be potentially deficient remain potentially deficient then City may cause such potentially deficient Improvements to be Substantially Complete and the costs of making such potentially deficient Improvements Substantially Complete shall be paid from the Escrow Funds; provided, however, that in so doing, City's expenses shall be commercially reasonable. If City's costs are less than the itemized amounts for such Improvements (per Exhibit E, F & G) the difference remaining shall be promptly paid to Owner. In the event Board finds in favor of Owner, then the Improvements in issue shall automatically be deemed Substantially Complete without requirement of any further action. Page 17 of 22 Owner need only provide written notice to Escrow Agent, with a copy to City, that Board found in favor of Owner. Such notice to Escrow Agent shall be deemed the equivalent of a Certificate of Substantial Completion from Board. Upon receipt of such notice, Escrow Agent is authorized to immediately release to Owner the total itemized amount (per Exhibit E, F & G) corresponding to all Improvements which City is so deemed to have certified as Substantially Complete minus the ten percent (10%) withholding as per Section 26.445.070(C)(4) of the Land Use Code. Notwithstanding anything to the contrary contained herein, after any and all partial releases, and once all Improvements are Substantially Complete, the ten percent (10%) withheld pursuant to Section 26.445.070(0)(4) of the Land Use Code shall be immediately released by Escrow Agent to Owner. If there are delays in performance hereunder due to abnormal adverse weather conditions, acts of God, casualties or any causes beyond the control of Owner or City, or by other causes which reasonably justify delay, then the affected time period or deadline shall be extended for a reasonable period of time, as may be agreed upon by the parties. No agreement to extend may be unreasonably withheld, conditioned or delayed. It is the express understanding of the parties that compliance with the procedure set forth in Article VI below pertaining to the procedure for default and amendment of this Agreement shall be required with respect to the enforcement and implementation of the financial assurances and guarantees to be provided by Owner as set forth above; provided, however that all procedures and requirements of this Article V shall be exhausted by City before any action under Article VI below is taken by City with regard to matters pertaining to this Article V. ARTICLE VI NON-COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS In the event that City determines that Owner is not acting in substantial compliance with the terms of this Agreement, City shall notify Owner in writing specifying the alleged non-compliance and asking that Owner remedy the alleged non- compliance within such reasonable time as City may determine, but not less than thirty (30) days. If City determines that Owner has not complied within such time, City may issue and serve upon Owner a written order specifying the alleged non-compliance and requiring Owner to remedy the same within thirty (30) days. Within twenty (20) days of the receipt of such order, Owner may file with the City Council either a notice advising City that it is in compliance or a written request to determine either or both of the following matters: (a) whether the alleged non-compliance exists or did exist; or (b) whether a variance, extension of time or amendment to this Agreement should be granted with respect to any such non-compliance which is determined to exist. Upon the receipt of such request, City shall promptly schedule a meeting of the parties to consider the matters set forth in the order of non-compliance. The meeting of the parties shall be convened and conducted pursuant to the procedures normally Page 18 of 22 established by City. If City determines that a non-compliance exists which has not been remedied, it may issue such orders as may be appropriate, including the imposition of daily fines until such non-compliance has been remedied, the withholding of permits and/or certificate of occupancy, as applicable; provided, however, that no order shall terminate any land use approval. City may also grant such variances, extensions of time or amendments to this Agreement as it may deem appropriate under the circumstances. In addition to the foregoing, Owner may, on its own initiative, petition City for a variance, an amendment to this Agreement or an extension of one or more of the time periods required for performance hereunder. City may grant such variances, amendments to this Agreement, or extensions of time as it may deem appropriate under the circumstances. The parties expressly acknowledge and agree that City shall not unreasonably refuse to extend the time periods for performance hereunder if Owner demonstrates that the reasons for the delay(s) which necessitate said extension(s) result from acts of God or other events beyond the reasonable control of Owner, despite good faith efforts on its part to perform in a timely manner. ARTICLE VII GENERAL PROVISIONS 7.1 The provisions hereof shall bind and benefit Owner and City and their respective successors and assigns. 7.2 This Agreement shall be- subject to and construed in accordance with the laws of the State of Colorado. 7.3 If any of the provisions of this Agreement or any paragraph, sentence, clause, phrase, word, or section or the application thereof in any circumstance is invalidated, such invalidity, shall not affect the validity of the remainder of this Agreement, and the application of any such provision, paragraph, sentence, clause, phrase, word, or section in any other circumstance shall not be affected thereby. 7.4 This Agreement and the exhibits attached hereto contain the entire understanding between the parties hereto with respect to the transactions contemplated hereunder. Owner, its successors or assigns, may, on its own initiative, petition the City Council for an amendment to this Agreement or for an extension of one or more of the time periods required for performance hereunder. The City Council shall not unreasonably deny such petition for amendment or extension after considering all appropriate circumstances. Any such amendments or extensions of time shall only become effective upon the execution by all parties hereto that are affected by the proposed amendment. 7.5 Numerical and title headings contained in this Agreement are for convenience only, and shall not be deemed determinative of the substance contained herein. As used herein, where the context requires, the use of the singular shall include the plural and the use of any gender shall include all genders. Page 19 of 22 7.6 Upon execution of this Agreement by all parties hereto, City agrees to approve and execute the Final Plat and to approve the Approved Plan Set and to accept the same for recordation in the Office of the Clerk and Recorder of Pitkin County, Colorado, upon payment of the recordation fees by Owner. 7.7 Notices to be given to the parties to this Agreement shall be considered to be given if hand delivered or if deposited in the United States Mail to the parties by certified mail, return receipt requested, or when sent via facsimile or electronic transmission, at the addresses indicated below, or such other addresses as may be substituted upon written notice by the parties or their successors or assigns: CITY: City of Aspen City Manager 130 South Galena Street Aspen, CO 81611 (Fax No. } OWNER: Iconic Properties — Jerome, LLC c/o Friedkin Companies, Inc. Attn: Eric Williamson 1375 Enclave Parkway Houston, TX 77077 (Fax No. (713) 580-5618 (Email: ewilliamson@friedkin.com) With a copy to: Kim Jacobson 1575 Enclave Parkway Houston, TX 77077 (Fax No. (713) 580-5296) (Email: kjacobson@friedkin.com) 7.8 This Agreement may be executed in counterparts, in which case all such counterparts together shall constitute one and the same instrument which is binding on all of the parties thereto, notwithstanding that all of the parties are not signatory to the original or the same counterpart. Facsimile and email signatures shall be treated as original signatures hereon. ` 7.9 The terms, conditions, provisions and obligations herein contained shall be deemed covenants that run with and burden the Property and any and all owners thereof or interests therein, their respective successors, grantees or assigns, and further shall inure to the benefit of and be specifically enforceable by or against the parties hereto, their respective successors, grantees or assigns. (The remainder of this page is intentionally blank, counterpart signature and acknowledgment pages follow) Page 20 of 22 IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of the day and year first above written. CITY: CITY OF ASPEN, COLORADO, a Colorado municipal corporation 0 Attest: City Clerk APPROVED AS TO FORM: James True, City Attorney STATE OF COLORADO § Steve Skadron, Mayor COUNTY OF PITKIN § The foregoing instrument was acknowledged_ before me this day of , 20169 by Steve Skadron as Mayor and as City Clerk of the City of Aspen, Colorado, a municipal corporation. Witness my hand and official seal. My commission expires: Notary Public OWNER: ICONIC PROPERTIES — JEROME, LLC a Delaware limited liability company By: Iconic Properties, L.L.C. its Manager By: Name: Title: (Counterpart signature and acknowledgment page to Aspen Times/Hotel Jerome SubdivisionlPD Development Agreement) STATE OF COLORADO § COUNTY OF PITKIN § The foregoing instrument was acknowledged before me this day of , 2016, by , as of Iconic Properties, L.L.C, the manager of Iconic Properties — Jerome, LLC, a Delaware limited liability company. Witness my hand and official seal. My commission expires: Notary Public (Counterpart signature and acknowledgment page to Aspen Times/Hotel Jerome Subdivision/PD Development Agreement) EXHIBIT A LEGAL DESCRIPTION A PARCEL OF LAND SITUATED IN THE CITY AND TOWNSITE OF ASPEN, COLORADO, BEING ALL OF LOTS A, B, C, D, E, F, G, H, I, M, N, O, P, Q, R, S, THE EAST HALF OF LOT L. ALL PORTION OF THE VACATED ALLEY IN BLOCK 79 AND THAT PORTION OF MILL STREET ACCORDING TO THE HOTEL JEROME LOT LINE ADJUSTMENT AND SUBDIVISION EXEMPTION PLAT FILED JUNE 12, 1991 AT RECEPTION NO. 331521, IN PLAT BOOK 26 AT PAGE 52, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNER OF SAID BLOCK 79 (A NO.5 REBAR AND YELLOW PLASTIC CAP LS 19598); THENCE S 14°50'49"W ALONG THE WEST LINE OF NORTH MILL STREET A DISTANCE OF 119.39 FEET (WHENCE A WITNESS CORNER A REBAR & CAP LS 19598 BEARS NI 4050'49"E 0.50 FEET); THENCE S75°09'11"E A DISTANCE OF 0.50 FEET; THENCE S 14°50'49"W A DISTANCE OF 100.70 FEET TO A BRASS DISK LS 19598 FOUND IN PLACE; THENCE N75°09'11 "W A DISTANCE OF 0.50 FEET TO A POINT ON THE AFOREMENTIONED WEST LINE OF NORTH MILL STREET, A BRASS DISK LS 19598 FOUND IN PLACE; THENCE S 14°50'49"W ALONG SAID WEST LINE A DISTANCE OF 0.30 FEET TO A POINT ON THE NORTHERLY LINE OF EAST MAIN STREET, A BRASS DISK LS 19598 FOUND IN PLACE; THENCE N75009'11"W ALONG SAID NORTHERLY LINE A DISTANCE OF 225.78 FEET TO THE SOUTHWEST CORNER OF THE EAST HALF OF LOT L (WHENCE A WITNESS CORNER A PK NAIL AND ALUMINUM TAG LS25947 BEARS: S14°50'49"W 1.00 FOOT); THENCE N14050'49"E A DISTANCE OF 120.39 TO A POINT ON THE NORTH LINE OF THE ALLEY IN SAID BLOCK 79; THENCE N75°09'11"W ALONG SAID NORTH LINE A DISTANCE OF 45.62 FEET TO A POINT ON THE EASTERLY LINE OF NORTH MONARCH STREET (WHENCE A NO.5 REBAR BEARS N350E 0.67 FEET); THENCE N14050'49"E ALONG SAID EAST LINE A DISTANCE OF 100.00 FEET TO THE NORTHWEST CORNER OF SAID BLOCK 79; (WHENCE A WITNESS CORNER A NO.5 REBAR & YELLOW PLASTIC CAP LS 16129 BEARS N730E 0.59 FEET); THENCE S75009'11"E ALONG THE SOUTH LINE OF EAST BLEEKER STREET A DISTANCE OF 271.40 FEET TO THE POINT OF BEGINNING. SAID PARCEL OF LAND CONTAINING 1.248 ACRES, MORE OR LESS. A u: J -Bar ADA Accessibilitv Plan [see attached page] a !g # >)$ .g• lq9; �& \ \ , a. � 2)w °% !#ƒƒ§ (®(>A °/()\k I .� / Transportation Impact Analysis [see attached pages] Trip Generation Instructions: IMPORTANT: Turn on Macros: In order for code to run correctly the security settings need to be altered. Click "File" and then click "Excel Options." In the "Trust Center" category, click "Trust Center Settings", and then click the "Macro Settings" category. Beneath "Macro Settings" select "Enable all Macros." Sheet I. Trip Generation: Enter the project's square footage and/or unit counts under Proposed Land Use. The numbers should reflect the net change in land use between existing and proposed conditions. If a landuse is to be reduced put a negative number of units or square feet. Sheet 2. MMLOS: Answer Yes, No, or Not Applicable under each of the Pedestrian, Bike and Transit sections. Points are only awarded for proposed (not existing) and confirmed aspects of the project. Sheet 3. TDM: Choose the mitigation measures that are appropriate for your project. Sheet 4. Summary and Narrative: Review the summary of the project's mitigated trips and provide a narrative which explains the measures selected for the project. Click on "Generate Narrative" and individually explain each measure that was chosen and how it enhances the site or mitigates vehicle traffic. Ensure each selected measure make sense for Helpful Hints: 1. Refer to the T. 1ransPnrWk9rI Impact Analysis_idelines for information on the use of this tool. 2. Refer to 1 TIA Frequently Asked Questions a quick overview. 2. Hover over red corner tags for additional information on individual measures. 3. Proposed TDM or MMLOS measures should be new and/or an improvement of existing conditions. A project will not receive credit for measures already in place. Proposed TOM or MMLOS measures should also make sense in the context of project location and future use. = input = calculation DATE: 7/18/2016 PROJECT NAME: Aspen Times/Hotel Jerome Subdivision/PUD PROJECT ADDRESS: 310 and 330 East Main Street APPLICANT CONTACT INFORMATION: Sunny Vann, Vann Associates, LLC, P.O. Box 4827, Basalt, CO 81612, 925-6958, NAME, COMPANY, vannossociates@comcost.net ADDRESS, PHONE, EMAIL Is this a major or minor project? Minor Minor Development - Inside the Roundabout J P 1 Major Development - Outside the Roundabout *For mixed-use fat least [woof the established land uses) sites, a 4% reduction for AM Peak -Hour and a 14%reduction for PM Peak -Hour is applied to the trip generation. ASSUMPTIONS ASPEN TRIP GENERATION AM Peak Average PM Peak Average Land Use Trip Rate Net new Trips Generated %Entering AM Peak -Hour PM Peak -Hour 0.69 unxa/seua,e Feet of Proposed Land Use the Proposed vroiea Entering Exiting Total Entering Exiting Total Commercial (sf) -374.0 sf -0.59 -0.26 -0.85 -0.62 -0.93 -1.55 Free -Market Housing (Units) 0Units 0.00 0.00 0.00 0.00 0.00 0.00 Affordable Housing (Units) 0 Units 0.00 0.00 0.00 0.00 0.00 0.00 Lodging (Units) 9Units 1.28 0.97 2.25 1.45 1.34 2.79 Essential Public Facility (sf) 0.0 sf 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL NEW TRIPS 0.70 0.70 1.40 0.83 0A1 1.24 *For mixed-use fat least [woof the established land uses) sites, a 4% reduction for AM Peak -Hour and a 14%reduction for PM Peak -Hour is applied to the trip generation. ASSUMPTIONS ASPEN TRIP GENERATION AM Peak Average PM Peak Average Land Use Trip Rate %Entering %Exiting Tri Rate %Entering %Exiting Commercial 2.27 0.69 0.31 4.140.4 0.6 Free -Market Housing 0.67 0.29 0.71 0.82 0.56 0.44 Affordable Housing 0.75 0.48 0.52 0.89 0.55 0.45 Lodging 0.25 0.57 0.43 0.31 0.52 0.48 Essential Public Facility 0.86 0.62 0.38 1.66 0.4 0.6 Instructions: Answer Yes, No, or Not Applicable to each measure under the Pedestrian. Bike and Transit sections. = input = calculation Categary Sub. m .... rip n.rr .r Outestion I Answer Points Does the project propose a detached sidewalk where an attached S 'X 1 sidewalk mnently exists? Does the proposed sidewalk and buffer 0 v 0 Vmeet standard minimum widths?Y the proposed effective sidewalk width greater than the standard 2Is minlmum width?3Does L 0 the project propose a landscape buffer greater than the '^ 0 standard minimum width? 0 c Does the project propose a detached sidewalk on an adjacent block? e Y '= 0 A Does the proposed sidewalk and buffer meet standard minimum No 0 v m e widths? U u Is the proposed effective sidewalk width an an adjacent block Y V 3 y _ 5 greater than the standard minimum width?xK Na 0 Is the proposed landscape buffer cn an adjacent block greater than y c e the standard minimum width? No 0 Are slopes between back of curb and sidewalk equal to or less than ? 5%? Yes 0 Are curbs equal to (or less than) 6 inches? Yes 0 a 0 m Is new large-scale landscaping proposed that improves the pedestrian - experience? Properties within the Core do not have ample area to vprovide a the level of landscaping required to receive credit in this No 0 category. Does the project propose an improved crosswalk? This measure must 10 et Cit a roval before receivin credit. y a ?rei't N C A 'C 11 Are existing driveways removed from the street? No 0 r N r is pedestrian and/or vehicle visibility unchanged by new structure or W < w 13 column? Yes 0 CL o Is the grade (where pedestrians cross) on cross -slope of driveway 2% N13 or less? Vas 0 Y V 9 'C n Does the project propose enhanced pedestrian access points from mU 14 the ROW? This includes improvements to ADA ramps or creating new Yes 5 d access points which prevent pedestrians from crossing a street. p Does the project propose enhanced pedestrian or bicyclist interaction 15 with vehicles at driveway areas? Yes 5 16 Is the project's pedestrian directness factor less than 1.5? No -5 Does the project propose new improvements which reduce the � S a 17 pedestrian directness factor to less than 1.27 A site which has an No 0 •E Z existing pedestrian directness factor less than 1.2 cannot receive i$ •$ credit in this category. __ Is the project proposing an off site improvement that results in a dpedestrian 19 directness factor below 1.21- No 0 Are traffic calming features proposed that are part of an approved 19 Ian (speed humps rapid flash)?' No 0 _.i, Are additional minor improvements proposed which benefit the i c 20 pedestrian experience and have been agreed upon with City of Aspen Ves 3 o i _ staff? Are additional major improvements proposed which benefit the a E 2 < o. E 21 pedestrian experience and have been agreed upon with City of Aspen No 0 staff? Category Sub. MeasureNumber Question Answer Points x 22 Is a new bicycle path being implemented with City approved design? No 0 29 No Is a trash receptacle proposed? 0 23 Do new bike paths allow access without crossing a street or ddveway? r m c No 0 No 0 24 Is there proposed landscaping, striping, or signage improvements to oan existingbicycle Path? is enhanced pedestrian -scale lighting proposed? No d u a 2S Does the project propose additional minor bicycle improvements No 0 y « which have been agreed upon with City of Aspen staff? 33 is real-time transit information proposed? No 0 m 26 Does the project propose additional major bicycle improvements No 0 t0 which have been agreed upon with City of Aspen staff? 6 bicycle parking/storage proposed specifically for bus stop use? No 35 Are ADA improvements proposed? No 0 w m D Z. E 27 Is the project providing bicycle parking? �Nl 0 y 0 37 Is relocation of a bus stop to improve transit accessibility or roadway No c E operations proposed? .. 01Hm 0 Category Sub. Measure NmIume Question Answer Points 28 Is seating/bench proposed? No 0 29 No Is a trash receptacle proposed? 0 i r 30 Is transit system information (signage) proposed? No c 31 Is shelter/shade proposed? No E 32 is enhanced pedestrian -scale lighting proposed? No A 0 eC 33 is real-time transit information proposed? No 0 t0 f34 6 bicycle parking/storage proposed specifically for bus stop use? No 35 Are ADA improvements proposed? No 0 D 36 Is a bus pull-out proposed at an existing stop? No 0 re 0 37 Is relocation of a bus stop to improve transit accessibility or roadway No c E operations proposed? w a 38 Is a new bus stop proposed (with minimum of two basic amenities)? No pwap a.ow.d/qdy luwld..,raas (d rIslanwLoa.r Roe f9 aps palm pan.. 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Box 4827, Basalt CO 81612,925-6958, vannassociotes@comcost.net NAME, COMPANY, ADDRESS, PHONE, EMAIL SUMMARY Trip Generation Trip Mitigation NET TRIPS TO BE MITIGATED Peak Hour Max Trips Generated MMLOS £ TDM Total Trips Mitigated AM `s 1.4 8 0.01 8.01 0.00 Narrative: Click on the "Generate Narrative" Button to the right. Respond to each of the prompts in the space provided. Each response should cover the following: 1. Explain the selected measure. 2. Call out where the measure is located. 3. Demonstrate how the selected measure is appropriate to enhance the project site and reduce traffic impacts. 4. Explain the Enforcement and Financing Plan for the selected measure. S. Explain the scheduling and implementation responsibility of the mitigation measure. 6. Attach any additional information and a site map to the narrative report. Project Description In the space below provide a description of the proposed project. Demolition of the non -historic portion of the Aspen Times building, renovation of the remaining historic portion, and the constructionof a new 3 - story addition thereto containing two new lodge units with eight keys. A portion of the existing building's commercial net leasable area will be used to provide new commercial spaces in the restored Aspen Times buildingand the addition, and to expand the Hotel Jerome's existing basement SPA. One new lodge unit will be added to the Hotel and it's courtyard will be improved. MMLOS Describe the enhanced pedestrian access point(s). This measure is to improve pedestrian access to the site from the ROW. It Includes adding additional access points which prevent pedestrians and bicyclists from crossing a street, Improvements to the project's ADA ramps in the ROW, and improvements to existing access points. A new ADA compliant ramp will be installed where the existing Monarch Street sidewalk intersects the south side of the alley behind Carl's Pharmacy. Explain the enhanced pedestrian interaction at driveway areas or alley crossings. There must be an existing deficiency on the proposed site to select this mesaure. If the project will increase interaction between pedestrians and vehicles at a driveway this should be mitigated by implementing improvements to that area. New signage, striping, mirrors, and other approved devices are examples to address pedestrian - vehicle conflicts at driveways. Sidewalk improvements are proposed at the Bleeker Street driveway entrance to the Hotel's parking garage. Explain any additional minor improvements which benefit the pedestrian experience and have been agreed upon with City of Aspen staff. A new vehicular pullout will be provided within the Main Street ROW and adjacent to the Hotel's entrance portico. The new pullout will help to reduce vehicular/pedetrian conflicts for arriving and departing Hotel guests and enhance safety for both guests and the public at large. Include any additional information that pertains to the MMLOS plan in the space provided below. Enter Text Here TDM Provide details for the proposed bike share program participation. Bike sharing provides access to a fleet of bicycles for short trips, thus reducing SOV travel. The successful project will provide memberships to the existing WE -cycle program. Include details on how many WE - cycle memberships will be purchased and whether these will be made available to guests, employees, or both. The Hotel will participate in the WE -cycle program. Five (5) season passes will be purchased and made available to both Hotel employees and guests. Explain the proposed self-funded emergency ride home strategy below. Emergency Ride Home programs reduce barriers associated with alternative commute modes, thus reducing SOV trips. The successful project will develop and fund a program to provide commuters who carpool, vanpool, bike, walk or take transit to work with a reliable and free ride home - usually in a taxi or rental car when unexpected emergencies arise. The use of the TOP program's Emergency Ride Home service is not applicable for mitigation purposes. The Hotel will provide a free taxi emergency ride home to employees who carpool, vanpool, bike, walk or take transit to work. Include any additional information that pertains to the TDM plan in the space provided below. Enter Text Here MMLOS Site Plan Requirements Include the following on a site plan. Clearly call out and label each measure. Attach the site plan to the TIA submittal. Slopes Between Back of Curb and Sidewalk 2% Slope at Pedestrian Driveway Crossings Enhanced Pedestrian Access Point Enhanced Pedestrian Interaction at Driveway Areas Additional Minor Pedestrian Improvement Enforcement and Financing Provide an overview of the Enforcement and Financing plan for the proposed transportation mitigation measures. The MMLOS measures will be undertaken by the Hotel owner. The TDM measures will be provided by the Hotel's management entity. Scheduling and Implementation Responsibility of Mitigation Measures Provide an overview of the scheduling and implementation responsibility for the proposed transportation mitigation measures. The MMLOS measures will be implemented in connection with therestoration of the Aspen Time building and the construction of the additition thereto. The proposed improvements will be depicted in the owner's building permit application which is subject to Engineering Department review. Monitoring and Reporting Provide a monitoring and reporting plan. Refer to page 17 in the Transportation Analysis Guidelines for a list of monitoring plan requirements. Components of a Monitoring and Reporting Plan should include (1) Assessment of compliance with guidelines, (2) Results and effectiveness of implemented measures, (3) Identification of additional strategies, and (4) Surveys and other supporting data. No monitoring or reporting is required in connection with the implementation of the proposed MMLOS measures. Hotel management will provide an annual report for three (3) years following the issuance of a Certificate of Occupancy for the project outling the Hotel's compliance with and the level of use of the proposed TDM measures. PF . HASELDEN CONSTRUCTION EXHIBIT D ASPEN TIMES/HOTEL JEROME LANDSCAPEIMPROVEMENTS _ � •.i_. 03.5 Main & Mill St 32H Landscaping / Irrigation Mobilization / Supervision / Equipment Celebration Maple - 3" cal Accolade Elm - 3"cal Tree Stakes/Guying * Total 32H Landscaping / Irrigation 05 Courtyard 32H Landscaping / Irrigation 5.1 - Planter Bowls 5.2 - Planter Pot - Large 5.3 - Planter Pot - Small Mobilization / Supervision / Equipment Irrigation - Material & Labor/ Zone Irrigation - Backflow Preventor Sod Crane to set Character Tree Courtyard Character Tree (Norway Maple) Autumn Blaze Maple - 3" cal Crab Spring Snow - 5" cal Aspen Single - 3" Cal Tree Stakes/Guying Kinnikinnick Massachuse -1gal Cotoneaster Peking - 5gal Juniper Armstrong - 5gal Sumac Dwarf Flagrant - 5gal Spirea Frobel - 5gal Male Fern - 1gal Allium Melenium Bulb Allium Schuberti Bulb Columbine Rocky Mountain -1gal False Forget-me-not - 1 gal Larkspur Magic Fountains - 1gal Hosta Honey Bells - lgal Iris - Ceasears Brother - 1 gal Iris- Iris Siberian - 1gal Lavendar - Deep Blue - 1 gal Salvia - Blue - 1 gal Stonecrop Dragon's Blood - 1gal Annuals Honeysuckle - Hall's - 1gal Virginia Creeper - 1gal Steel Edger Organic Soil Amendments - Sod Organic Soil Amendments - Planter Bed's Ll 1 LS $ 20,000.00 $ 20,000 8 EA $ 1,172.98 $ 9,384 9 EA $ 963.38 $ 8,670 17 EA $ 25.00 $ 425 8 EA $ 1,207.50 $ 9,660 34 EA $ 962.50 $ 32,725 13 EA $ 946.40 $ 12,303 1 LS $ 12,500.00 $ 12,500 15 EA $ 3,500.00 $ 52,500 1 EA $ 5,000.00 $ 5,000 1250 SF $ 1.66 $ 2,075 1 EA $ 10,000.00 $ 10,000 1 EA $ 17,500.00 $ 17,500 6 EA $ 1,172.98 $ 7,038 7 EA $ 1,500.00 $ 10,500 5 EA $ 810.05 $ 4,050 18 EA $ 25.00 $ 450 50 EA $ 45.00 $ 2,250 50 EA $ 50.94 $ 2,547 50 EA $ 55.00 $ 2,750 50 EA $ 58.61 $ 2,931 50 EA $ 50.94 $ 2,547 20 EA $ 24.48 $ 490 80 EA $ 32.15 $ 2,572 80 EA $ 32.15 $ 2,572 80 EA $ 19.69 $ 1,575 80 EA $ 26.40 $ 2,112 80 EA $ 26.40 $ 2,112 20 EA $ 26.40 $ 528 80 EA $ 26.40 $ 2,112 80 EA $ 24.48 $ 1,958 80 EA $ 26.40 $ 2,112 80 EA $ 18.73 $ 1,498 50 EA $ 18.73 $ 937 1 LOT $ 5,000.00 $ 5,000 12 EA $ 24.48 $ 294 12 EA $ 32.15 $ 386 80 LF $ 3.68 $ 294 40 CY $ 214.35 $ 8,574 30 CY $ 263.15 $ 7,895 Organic Soil Amendments - Planters & Pots 1 CY $ 6,500.00 $ 6,500 Arborist Root Prunning 1 LS $ 575.00 $ 575 Soil Test 1 LS $ 143.75 $ 144 Total 32H Landscapinq / Irrigation $ 239,565 $ 278,044 • EXHIBIT E ASPEN TIMES/HOTEL JEROME HASELDEN HISTORIC IMPROVEMENTS CONSTRUCTION Description Quantity 02 Aspen Times Renovation 00B Site Logistics Cosmetic Repairs to Carl's Pharmacy 1 ALLOW $ 5,000.00 $ 5,000 Scaffolding/Protect Roof at Carl's Elevation 1 ALLOW $ 5,000.00 $ 5,000 Snow Removal 1 MO $ 8,390.50 $ 8,391 General Labor & Clean Up 2.69 MO $ 4,171.00 $ 11,220 Traffic Control 2.98 MO $ 4,171.00 $ 12,430 Pothole Existing Utilities 1 LS $ 2,000.00 $ 2,000 '* Total OOB Site Logistics $ 44,040 01 E Surveying/ Layout Surveying and Layout Controls 50 HR $ 239.78 $ 11,989 Survey and Monitoring of Adjacent Buildings 1 LS $ 7,500.00 $ 7,500 ** Total 01 E Surveying / Layout $ 19,489 01G Sound Wall Allowance Sound Wall (Includes Consultant & Monitoring) 1 ALLOW $10,000.00 $ 10,000 ** Total 01G Sound Wall Allowance F$-1 01000 02A Demolition Move / Replace Existing Structure 1445 SF $ 62.28 $ 90,000 Interior Demo & Bracing of Existing Times Bldg. 1445 SF $ 6.92 $ 9,999 Demo Large Pine East of Times Building 1 LS $15,000.00 $ 15,000 ** Total 02A Demolition Fs -1 15,000 03A Structural Concrete Shot Crete Wall 69 C $ 1,073.45 $ 74,068 Footings 54 CY $ 511.65 $ 27,629 Concrete Material Supply 0 INCL $ - $ - Concrete Place 0 INCL $ - $ - Concrete Finish 0 INCL $ - $ - Reinforcing Material Supply & Tie 0 INCL $ - $ - Slab on Grade 1674 SF $ 13.46 $ 22,525 Slab on Metal Deck (Level One SOG Covered in Base Bid) 2293 SF $ 14.00 $ 32,104 Temporary Heating / Weather Protection for Concrete 1 MO $ 5,000.00 S 5,000 **Total 03A Structural Concrete $ 161,327 05A Structural Steel Fabrication and Erection Structural Steel 2110 GBA $ 27.48 S 57,972 ** Total 05A Structural Steel Fabrication and Erection $ 57,972 05B Misc. Metals Fabrication Misc. Metals 1767 GBA $ 1.00 $ 1,767 Misc. Items - Edges, Braces, Embeds 1679 GBA $ 0.50 $ 840 ** Total 05B Misc. Metal Fabrications Fs2,607 06A Rough Carpentry Wood Framing (Struct & Roof Repair) - Times Building 1767 GBA $ 18.00 $ 31,806 Interior Backing and Blocking 3446 GBA $ 2.00 $ 6,892 ** Total 06A Rough Carpentry $ 38,698 06C Exterior Carpentry Siding 4 - Painted Wood Siding w/Trim 978 SF $ 19.00 $ 18,582 *" Total Q6C Exker or Carpentry - . - $ 07A Dampproofing /Waterproofing Blindsi_de Waterproofing at Basement Walls 2145 SF $ 12.00 $ 25,740 _ ** Toto[ 07A �p$m'proofing /,yllaterproo ng . _ . $. 26,740,11 07C Building Insulation Batt Insulation Exterior 0 w/ Drywall $ - $ - 2" Thermax Rigid Insulation at Exterior Framing 0 w/ Drywall $ - $ - Total, o7G-, .Bu1Idng Insulation 07E Roofing/ Sheet Metal Corrugated Metal Roof 1748 SF $ 20.64 $ 36,084 4" Gutter 210 LF $ 19.00 $ 3,990 4" Downspout 64 LF $ 19.00 $ 1,216 Tatalao7E RoofirRg l SneetMeial $ 4,290'.. -, 07G Fireproofing Fireproofing (At 1st Floor only) 2011 SF $ 3.00 $ 6,033 .07(3 Fireproofing, 07H Firestopping Firestopping 3446 GBA $ 0.25 $ 862 TotaU07H ;:F�rxestopp ng $_: . r8az ; 07i Joint Sealants Joint Sealants 3446 GBA $ 0.50 $ 1,723 '`'Total 07F.J Sealants $- 7 08A Door / Frame / Hardware Installation K&K Door/ Frame/ Hardware Install 3 EA $ 437.00 $ 1,311 Unload / Sorting / Distribute Doors and Hardware 12 EA $ 27.00 $ 324 K&K Window - Install 6 EA $ 179.98 $ 1,080 K&K Door - Install 0 W/08A $ - $ - Head Flashing - Windows 83 If $ 6.71 $ 557 Head Flashing - Doors 53 If $ 6.71 $ 356 Sill Flashing - Windows 83 If $ 6.71 $ 557 Sill Flashing - Doors 53 If $ 6.71 $ 356 Tota[08A Door] Frame / Hardware Installation_ S. 4-54Q 08B Door / Frame / Hardware Supply __. K&K Public Entry Hardware - Supply 5 EA $ 2,500.00 $ 12,500 ''F Toia1;08B Door / Frame l Hardware Supply, . $ 12,00 08D Overhead Coiling Doors Overhead Bi -Fold Door 1 EA $ 7,500.00 $ 7,500 - $D".0V Coiling Doors - - 7,500: 08E Aluminum Storefront / Aluminum Windows Storefront Doors - Meeting Space 1 PR $ 6,000.00 $ 6,000 ADA Operators 1 EA $ 3,500.00 $ 3,500 Total�8E .Aluminum Storefront / Aluminum Windows `$`. - .: _',9;500 _ - - - . - _ ..- _ 08F Wood Windows _ . Wood Windows - Operable 6 EA $ 1,750.00 $ 10,500 K&K Doors - Restroom Corridor 1 EA $ 3,400.00 $ 3,400 K&K Doors - Meeting Space 1 PR $ 5,500.00 $ 5,500 K&K Doors - Meeting Space 1 EA $ 3,400.00 $ 3,400 Tota108F °Wood UVindows 09B Gypsum Board Systems Gypsum Ceiling System - Suspended 2776 SF $ 6.00 $ 16,656 6" Metal Studs - Dens Glass Gold, Insulation, Tyvek; Exterior Wall 452 SF $ 15.00 $ 6,780 6" Metal Studs - Dens Glass Gold, Insulation, Tyvek; Exterior Wall - 2 -hr 734 SF $ 17.00 $ 12,478 ** Total 09B Gypsum Board Systems $ 35,914 09J Painting / Wallcoverings Exterior Painting (Siding & Trim) 846 SF $ 1.25 $ 1,058 Exterior Painting (Steel Trellis) 540 SF $ 4.50 $ 2,430 * Total 09J Painting / Wallcoverings Fs3,488 10B Signage / Directories Signage 3446 GBA $ 0.50 $ 1,723 **Total 106 Signage / Directories $ 1,723 21A Fire Protection Systems Full Wet Sprinkler System - Building 3446 GBA $ 5.00 $ 17,230 **Total 2 1 A Fire Protection Systems $ 17,230 23A Mechanical Mechanical Systems 3446 GBA $ 27.63 $ 95,223 "Total 23A Mechanical $ 95,223 26A Electrical Systems Electrical System - Building 3446 GBA $ 12.20 $ 42,048 Demo Electrical Systems in Existing Buildings - Make Safe 0 INCL $ - $ - ** Total 26A Electrical Systems $ 42,048 31A Earthwork Removal of Buried Foundations of existing buildinc 0 INCL $ - $ - Basement Excavation (open access) 948 CY $ 11.50 $ 10,902 Structural Excavation 315 CY $ 18.00 $ 5,670 Install / Remove Access Ramp 0 EACH $18,700.00 $ - Vapor Barrier 1900 SF $ 0.48 $ 912 Over excavation 0 NIC $ - $ - Perimeter/ Under Drain System with Gravel 148 LF $ 41.00 $ 6,068 Mobilization and Site Prep 0 INCL $ - $ - Export Soils 1437 CY $ 49.50 $ 71,132 Remove Shot Crete Waste 7 CY $ 250.00 $ 1,750 Fine Grade - Foundation and Slab 0 INCL $ - $ - Underslab Gravel 1900 SF $ 2.10 $ 3,990 Imported Fill 0 NIC $ - $ - Radon System 1900 SF $ 1.85 $ 3,515 Hand Excavation 35 CY $ 57.00 $ 1,995 Import Fill Material 79 CY $ 53.00 $ 4,187 Building Fine Grade 1767 SF $ 0.46 $ 813 Temporary Dewatering 1 LS $ 5,000.00 $ 5,000 **Total31A Earthwork $ 115,933 31B Erosion Control Storm Water Inspections 2.96 EA $ 500.00 $ 1,480 Storm Water Permits 1 LS $ 425.00 $ 425 Perimeter Chain Link Site Fence w/ Windscreen 200 LF $ 7.90 $ 1,579 Silt Fence 200 LF $ 2.25 $ 450 Inlet Protection 0.71 EA $ 330.00 $ 234 Erosion Control Maintenance (prorated) 2.96 MO $ 776.00 $ 2,297 Vehicle Tracking Pad 1 EA $ 2,500.00 $ 2,500 Concrete Washout w/ Dump Fee 0 w/ Concret $ - $ - Curb Socks 2 EA $ 175.00 $ 350 ** Total 31 B Erosion Control $ 9,315 31 C Shoring/ Soil Stabilization Temporary Beam & Lag Shoring - West/South Sid 1409 SF $ 125.00 $ 176,125 Temporary Soil Nail Shoring - East/North Sides (O 757 SF $ 65.00 $ 49,205 "Total 31C Shoring / Soil Stabilization 1 $ 225,330 I . HASELDEN CONSTRUCTION EXHIBIT F ASPEN TIMES/HOTEL JEROME PUBLIC INFRASTRUCTURE IMPROVEMENTS 03 Loading Dock 07i Joint Sealants Site Joint Sealants `** Total 07i Joint Sealants 26A Electrical Systems Misc. Electrical *** Total 26A Electrical Systems 33A Site Utilities 6" PVC SS Service Line "* Total 33A Site Utilities 03.5 Main & Mill St OOB Site Logistics Street Signage Street & Sidewalk Cleaning (Prorated) Traffic Control (Prorated) Pothole Existing Utilities *** Total 008 Site Logistics 01E Surveying/ Layout Surveying and Layout Controls *'* Total 01 E Surveying / Layout 07i Joint Sealants Site Joint Sealants `* Total 07i Joint Sealants 23A Mechanical Rework / New Snowmelt - Main St " Total 23A Mechanical 26A Electrical Systems Misc. Electrical **` Total 26A Electrical Systems 31A Earthwork Excavate for Silva Cell / Trees Export Spoil Material Demo Existing Hardscapes "* Total 31A Earthwork 31B Erosion Control Storm Water Inspections Storm Water Permits Perimeter Chain Link Site Fence w/ Windscreen Silt Fence Inlet Protection Erosion Control Maintenance Concrete Washout w/ Dump Fee Curb Socks Total 31 B Erosion Control 2480 SF $ 0.39 $ 967 $ 967 1 LS $ 4,313.00 $ 4,313 $ 4,313 10 LF $ 65.00 $ 650 F$-6 5 0 1 LS $ 7,500.00 $ 7,500 2 MO $ 4,500.00 $ 9,000 1 MO $ 16,781.00 $ 16,781 1 LS $ 2,000.00 $ 2,000 F$-35,281 32 HR $ 239.78 $ 7,673 $ 6,413 327 CY F$-7,673 5295 SF $ 0.39 $ 2,065 $ 2,065 2842 SF $ 17.86 $ $ 50,747 330.00 $ 465 776.00 $ $ 50,747 1 LS $ 12,925.00 1,050 $ 12,925 $ 11,142 $ 12,925 285 CY $ 22.50 $ 6,413 327 CY $ 49.30 $ 16,121 8566 SF $ 4.15 $ 35,549 $ 58,083 0.85 EA $ 500.00 $ 425 1 LS $ 425.00 $ 425 800 LF $ 800 LF $ 1.41 EA $ 0.85 MO $ 0 w/ Concret $ 6 EA $ 7.90 $ 6,317 2.25 $ 1,800 330.00 $ 465 776.00 $ 660 175.00 $ 1,050 $ 11,142 32A Asphalt Paving / Pavement Markings Main / Mill St - Patch & Repair Asphalt Paveme Main St - New Drop-off Asphalt Pavement Main / Mill St - Lane Markings / Signage *'* Total 32A Asphalt Paving / Pavement Markings 32B Site Concrete Main St - Curb and Gutter Main St - ADA Ramp with Truncated Domes Main St - Concrete Snowmelt Underslab Main St. Light Pole Bases Mill St - Curb and Gutter Mill St - ADA Ramp with Truncated Domes Mill St - Light Pole Bases Remove/ Relocate OH Power Lines in Alley "Total 32B Site Concrete LA 05 Courtyard OOB Site Logistics Emergency Egress Path of Travel Snow Removal * * Total 006 Site Logistics 01 Sound Wall Allowance Sound Wall (Includes Consultant & Monitoring) 'Total 01G Sound Wall Allowance 07i Joint Sealants Site Joint Sealants *** Total 07i Joint Sealants 26A Electrical Systems Temporary Re-routing of Utilities for Existing Structures Electrical System (Move Transformers / Underground Utility Work) Temporary Transformer Generator for Shut Down ** Total 26A Electrical Systems 31A Earthwork Demo Existing Site Improvements, Hardscapes Protection of Existing Finishes to Remain Removal of Trees Removal of Buried Foundations of existing buildings Site Cut/ Fill Import Fill Material Hand Excavation Import Fill Material Site Fine Grade Temporary Gravel - laydown and access in cou ***Total 31A Earthwork 31B Erosion Control Perimeter Chain Link Site Fence w/ Windscreei Vehicle Tracking Pad Concrete Washout w/ Dump Fee *** Total 318 Erosion Control 33A Site Utilities 85 SY $ 75.00 $ 6,375 72 SY $ 75.00 $ 5,400 1 LS $ 1,000.00 $ 1.000 2 ALLOW $ 10,000.00 $ 12,775 246 LF $ 28.00 $ 6,888 2 EA $ 1,950.00 $ 3,900 2842 SF $ 5.00 $ 14,210 2 EA $ 300.00 $ 600 232 LF $ 28.00 $ 6,496 2 EA $ 1,950.00 $ 3,900 2 EA $ 650.00 $ 1,300 0 By Owner $ - $ - $ 37,294 100 LF $ 25.00 5,000.00 $ 2,500 1 MO $ 8,390.50 LS $ 8,391 167,135.00 $ 167,135 $ 10,891 2 ALLOW $ 10,000.00 $ 20,000 7,890 1 LS $ $ 20,000 11954 SF $ 0.39 $ 4,662 $ 4,662 1 LS $ 5,000.00 $ 5,000 1 LS $ 167,135.00 $ 167,135 1 LS $ 7,890.00 $ 7,890 1 LS $ 12,569.00 $ 12,569 $ 192,594 11926 SF $ 5.00 $ 59,630 2250 SF $ 2.79 $ 6,278 17 EA $ 1,035.00 $ 17,595 0INCL $ - $ - 883 CY $ 14.00 $ 12,362 943 CY $ 53.00 $ 49,979 50 CY $ 57.00 $ 2,850 62 CY $ 53.00 $ 3,286 11926 SF $ 0.46 $ 5,486 2000 SF $ 1.40 $ 2,800 $ 160,265 224 LF $ 7.90 $ 1,769 2 EA $ 2,500.00 $ 5,000 0 w/ Concret $ - $ - $ 6,769 Remove Existing & Tie -In Water & Sewer 1 EA $ 4,525.00 $ 4,525 6" DIP Fire Water Line 24 LF $ 105.00 $ 2,520 "*Total 33A Site Utilities F$-7,045 $ 636,140 I . HASELDEN CONSTRUCTION EXHIBIT G ASPEN TIMES/HOTEL JEROME STORM WATER IMPROVEMENTS Im 03 Loading Dock OOB Site Logistics Dumpsters General Labor & Clean Up Street & Sidewalk Cleaning Traffic Control Pothole Existing Utilities Relocate Compactor Before & After Work *** Total 00B Site Logistics 0101E Surveying/ Layout Surveying and Layout Controls **' Total 01 E Surveying / Layout 04A Masonry Stone Cap at Trash Compactor Wall 8" CMU at Trash Compactor Wall *** Total 04A Masonry 31A Earthwork Protection of Existing Finishes to Remain Removal of Existing Storm Line on Mill St. Excavation & Backfill for Water Quality Trea Demo & Fine Grade ***Total31A Earthwork 31B Erosion Control Storm Water Inspections (prorated) Storm Water Permits (prorated) Perimeter Chain Link Site Fence w/ Windsc Silt Fence Inlet Protection Erosion Control Maintenance (prorated) Curb Socks * * Total 31 B Erosion Control 31C Shoring / Soil Stabilization Shoring for Vault Installation Total 31C Shoring / Soil Stabilization 32A Asphalt Paving / Pavement Markings Bleeker St - Patch & Repair Asphalt Pavem Bleeker St - Patch & Repair Asphalt Pavemi Alley - Patch & Repair Asphalt Pavement Bleeker St - Lane Markings * Total 32A Asphalt Paving / Pavement Markings 32B Site Concrete Bleeker St - Cross Pan - 8" Curb and Gutter Valley Gutter Trench Drain Concrete Encasement Concrete Foundations (Replace Trash Com Foundations for Reconstructed Trash Comr 8 HR $ 239.78 $ 1,918 $ 1,978 47 LF $ 55.00 $ 2,585 5 EA $ 1,200.00 $ 6,000 0.77 MO $ 4,171.00 $ 3,212 2 MO $ 4,500.00 $ 9,000 0.85 MO $ 4,171.00 $ 3,545 1 LS $ 2,000.00 $ 2,000 0 By Owner $ - $ - $ 13,699 326 2 EA $ 23,757 8 HR $ 239.78 $ 1,918 $ 1,978 47 LF $ 55.00 $ 2,585 282 SF $ 20.00 $ 5,640 $ 425 400 LF $ 8,225 7.90 2687 SF $ 2.79 $ 7,497 88 LF $ 98.00 $ 8,624 580 CY $ 31.50 $ 18,270 3605 SF $ 3.80 $ 13,699 $ 48,090 0.42 EA $ 500.00 $ 210 1 LS $ 425.00 $ 425 400 LF $ 7.90 $ 3,158 250 LF $ 2.25 $ 563 1.41 EA $ 330.00 $ 465 0.42 MO $ 776.00 $ 326 2 EA $ 175.00 $ 350 $ 5,497 1 LS $ 30,000.00 $ 30,000 14,196 156 LF $ $ 30,000 $ 28 SY $ 75.00 $ 2,100 168 SY $ 75.00 $ 12,600 106 SY $ 75.00 $ 7,950 1 LS $ 200.00 $ 200 $ 22,850 507 SF $ 28.00 $ 14,196 156 LF $ 28.00 $ 4,368 56 LF $ 28.00 $ 1,568 65 LF $ 75.00 $ 4,875 16.5 CY $ 795.00 $ 13,118 19 CY $ 785.00 $ 14,915 •• T. *"Total 32B Site Concrete 33A Site Utilities 12" SD 8" SD 5' Type R Inlet 4' Dia. Street Manhole Trench Drains With Covers Asphalt Cutting and Demo Asphalt Patching New WQCV Treatment Vault "* Total 33A Site Utilities & Mill St 05 Courtyard - 0013 Site Logistics General Labor & Clean Up Street & Sidewalk Cleaning Traffic Control Pothole Existing Utilities *** Total 006 Site Logistics WE Surveying/ Layout Surveying and Layout Controls *` Total 01 E Surveying / Layout 31A Earthwork Demo Existing Site Utilities "*Total 31A Earthwork 31B Erosion Control Storm Water Inspections Storm Water Permits Silt Fence Inlet Protection Erosion Control Maintenance (prorated) Curb Socks ***Total31B Erosion Control 33A Site Utilities Remove Existing & Tie -In Water & Sewer 12" SD 8" SD 12" Yard Drain w/Grate Inlet Trench Drains With Covers Asphalt Cutting and Demo Asphalt Patching New Drywall *** Total 33A Site Utilities 82 LF $ 66.12 58 LF $ 48.70 1 EA $ 5,190.00 1 EA $ 4,250.00 65 LF $ 115.00 210 SY $ 17.00 210 SY $ 86.50 1 LS $ 10,165.00 Am $ 53,040 $ 5,422 $ 2,825 $ 5,190 $ 4,250 $ 7,475 $ 3,570 $ 18,165 $ 10,165 $ 57,061 2.5 MO $ 4,171.00 $ 10,428 3.5 MO $ 9,000.00 $ 31,500 2.5 MO $ 4,171.00 $ 10,428 1 LS $ 4,000.00 $ 4,000 $ 56,355 40 HR $ 239.78 $ 9,591 4,525 160 LF $ $ 9,591 $ 1 LS $ 26,100.00 $ 26,100 $ 23,571 23 EA $ 26,100 850.00 3.38 EA $ 500.00 $ 1,690 2 LS $ 425.00 $ 850 114 LF $ 2.25 $ 257 1.41 EA $ 330.00 $ 465 3.38 MO $ 776.00 $ 2,623 2 EA $ 175.00 $ 350 6,235 1 EA $ 4,525.00 $ 4,525 160 LF $ 66.12 $ 10,579 484 LF $ 48.70 $ 23,571 23 EA $ 850.00 $ 19,550 150 LF $ 115.00 $ 17,250 100 SY $ 17.00 $ 1,700 100 SY $ 86.50 $ 8,650 2 EA $ 6,850.00 $ 13,700 $ 448,244