HomeMy WebLinkAboutcoa.lu.ec.Prospector Lodge.LotsA-D,Blck82.82/83-EC-01ga%gProspector Lodge,
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EXHIBIT "A" •
aspen title
company, ltd.
A TITLE INSURANCE AGENCY
December 17, 1982
Mr, Spence Shiffer
Garfield & Hecht
601 E. Hyman Avenue
Aspen, Colorado 81611
Re: Lots A, B, C and D
Block 82
CITY AND TOWNSITE OF ASPEN
Dear Spence:
As of December 17, 1982 at 4:30 PM, Aspen Title Company, LLd. hereby
certifies that Hans B. Cantrup is the owner of the above described
property by Warranty Deed recorded December 22, 1980 in Book 401 at
Page 969, a copy of which is attached.
Very truly yours,
ASPEN TITLE COMPANY, LTD.
"Susan Arenella
Title Examiner
SW/hgy
Attachment (1)
530 E. Main Street Third floor
Aspen, Colorado B1611 303 925-4444
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• EXHIBIT "D" •
CONDOMINIUM DECLARATION
FOR
PROSPECTOR CONDOMINIUMS
KNOW ALL MEN BY THESE PRESENTS, THAT:
WHEREAS, HANS B. CANTRUP, "Declarant", is the owner of
certain real property situated in the County of Pitkin, State of
Colorado, legally described as follows.:
Lots A, B, C, and D, Block 82, City and Townsite of
Aspen.
WHEREAS, Declarant desires to establish a condominium
project under the Condominium Ownership Act of the State of
Colorado; and
WHEREAS, there is presently located on the property a
building containing 20 units and other improvements; and
WHEREAS, Declarant does hereby establish a plan for the
ownership in fee simple of the real property estates hereby
created and consisting of the area or space contained in each of
the air space units in the buildings and the co -ownership by the
separate owners thereof, as tenants in common, of all of the
remaining property hereinafter defined and referred to as the
General Common Elements;
NOW, THEREFORE, Declarant does hereby grant, convey,
and submit the above -described real property and the improvements
situated thereon, all as shown on the Map described in Section
1.11 below, subject to all easements, rights of way, restrictions
and reservations of record prior to recording of this Declaration
to condominium ownership pursuant to the Condominium Ownership
Act of the State of Colorado, and Declarant does hereby publish
and declare that the following terms, covenants, conditions,
easements, restrictions, uses, limitations, and obligations shall
be deemed to run with the land, shall be a burden and a benefit
to Declarant, its heirs, administrators, executors, successors,
and assigns:
1. Definitions. Unless the context shall expressly
provide otherwise the following definitions shall apply to the
following phrases, or terms appearing in this Declaration.
1.1 "Unit" means an individual air space unit which
is bounded by the unfinished interior surfaces of its perimeter
walls, including the interior surfaces of windows and window
frames, doors and door frames, trim, and the interior surfaces of
the lowermost floors, uppermost ceilings and bearing walls of
such unit in the building as shown on the Condominium Map to be
filed for record, together with all fixtures and improvements
therein contained but not including any of the structural com-
ponents of the building, or common elements, if any, in such
unit.
1.2 "Condominium Unit" means the fee simple
interest and title in and to a unit, together with the undivided
percentage interest in the general and limited common elements
appurtenant to such unit.
1.3 "General Common Elements" means and includes
the real property described above, including the Common Areas as
shown on the Condominium Map of Prospector Condominiums together
with the structural components of the buildings, including but
not limited to roofs, floors other than the interior surfaces
thereof (and crawl spaces beneath the floors), foundation, pipes,
ducts, flues, chutes, conduits, wires, and other utility instal-
lations to the outlets, bearing walls, perimeter walls, columns
and girders, to the interior surfaces thereof, regardless of
location; the balconies, patios, entryways lying outside peri-
meter walls, walkways and parking areas, which are now or here-
after contained within the project; all installations of power,
lights, gas, hot, and cold water existing for common uses, and
all other parts of such land and the improvements thereon
necessary or convenient to its existence, maintenance and safety
which are normally and reasonably in common use, including the
air above such land, all of which shall be owned, as tenants in
common, by the owners of the separate units, each owner of a unit
having an undivided percentage interest in such general common
elements as hereinafter provided.
1.4 "Limited Common Elements" means those parts of
the General Common Elements which are either limited to or
reserved for the exclusive use of the owners of one or more, but
less than all, of the Condominium Units as delineated on the
Condominium Map of Prospector Condominiums and as more fully
described in paragraph 5 below. "Common Elements" includes
General Common Elements and Limited Common Elements.
1.5 "Condominium Project" means all of the land and
improvements initially and subsequently within the purview of
this Declaration.
1.6 "Common Expenses" means and includes expenses
for maintenance, repair, operation, reserves for replacement,
management and administration, expenses for utilities, insurance,
rental management, maid services, cleaning services and supplies,
guest registration expense, linens and towels, gardening and
landscaping, trash collection, security guards and facilities,
legal and accounting services, expenses declared common expenses
by the provisions of this Declaration or under the By -Laws of The
Prospector Condominium Association, and all sums lawfully
assessed against the Common Elements by the Board of Managers of
the Association.
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1.7 "Association of Unit Owners" or "Association"
means The Prospector Condominium Association, its successors and
assigns, the Articles of Incorporation and By-laws of which shall
govern the administration of this Condominium Project, and the
members of which shall be all of the owners of the Condominium
Units.
1.8 "Board of Governors" means those Unit owners
duly elected to govern the affairs of the Association.
1.9 "Managing Agent" means any person, firm, or
other entity to whom the Board of Governors may by written agree-
ment delegate any of its duties, powers, and functions for an
agreed compensation.
1.10 "Building" means any one of the building
improvements containing Condominium Units as shown on the Map or
any amendments and supplements thereto.
1.11 "Map" or "Condominium Map" or "Supplemental
Map" means a plat or plats or survey or surveys of the surface of
the ground of the Real Property showing a survey and legal
description thereof, the location of the Building with respect to
the boundaries of the property, together with diagramatic floor
plans of the Building, showing the boundaries of each Unit within
the Building, including horizontal and vertical locations and
dimensions of all boundaries of each Unit, Unit numbers identi-
fying the Units together with such other information as may be
included thereon and the discretion of the Declarant. If a
supplemental or amended Condominium Map or Maps shall be filed in
the records of Pitkin County, Colorado, the term "Map" or
"Condominium Map" thereafter shall mean the original Condominium
Map, together with all amended or supplemental maps.
1.12 "Mortgage" means any mortgage, deed of trust,
or other security instrument by which a Condominium Unit or any
part thereof is encumbered.
1.13 "Mortgagee" means any person, persons, firm,
corporation, partnership, association, other legal entity, or
combination thereof named as the mortgagee or beneficiary under
any Mortgage by which the interests of any Owner is encumbered.
1.14 "Second Mortgage". Whenever any right is
provided under this Declaration to any holder of a second mort-
gage or any beneficiary of a second priority deed of trust, such
holders and beneficiary shall be expressly limited to a person or
entity who has provided funds or given value in connection with
the purchase of a unit from the Declarant.
1.15 "Owner" means a person, persons, firm, corpora-
tion, partnership, association, other legal entity or combination
thereof which owns an interest in or more Condominium Units; the
term "Owner" shall not refer to any "Mortgagee" as herein
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defined, unless such Mortgagee has acquired title pursuant to
foreclosure or any proceeding in lieu of foreclosure.
2. Condominium Map. The Map may be filed for record
in whole or in parts or sections, from time to time, as the
stages of construction of the Units and other improvements are
subsequently completed. Each section of the Map filed subsequent
to the first or initially filed Map shall be termed a Supplement
to such Map and the numerical sequence of such supplements shall
be shown thereon. The Map or any part or section thereof
depicting units shall not be filed for record until the building
in which the Units are located has been substantially completed
in order to permit the location thereof, both horizontally and
vertically, by a registered Colorado land surveyor. Each such
Map shall depict and show at least the following:
2.1 The legal description of the real property
and a survey thereof, the location of the Building(s); the floor
and elevation plans; the location of the Units within the
Building, both horizontally and vertically; the thickness of thy.
common walls between or separating the Units; the location of any
structural components or supporting elements of a unit located
within a Building; and the Building and Unit designations.
2.2 The Map shall contain the certificate of a
registered Colorado land surveyor or licensed architect, or both,
certifying that the Map substantially depicts the location and
the horizontal and vertical measurements of the building, the
Units, the Unit designations, the dimensions of the Units, the
elevations of the unfinished floors and ceilings as constructed,
the building number or symbol, and that such Map was prepared
subsequent to substantial completion of the improvements. Each
Supplemental Map and/or any amendment shall set forth a like
certificate when appropriate.
2.3 In interpreting the Map the existing physical
boundaries of each separate Unit as constructed shall be.conclu-
sively presumed to be its boundaries.
2.4 Declarant reserves the right to amend the Map
from time to time, to conform the same according to the actual
location of any of the constructed improvements, and to
establish, vacate, relocate, eliminate, easements, access road
easements, parking areas, and employee housing.
3. Division of Property into Condominium Units. The
real property is hereby divided into the following fee simple
estates, each such estate consisting of the separately designated
Units and the undivided interest in and to the General Common
Elements and the Limited Common Elements, if any, appurtenant to
each Unit to -wit:
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•
CONDOMINIUM UNIT
PERCENTAGE INTEREST
#1
. 06 0
#2
.051%
#3
.054%
#4
.054%
#5
.054%
#6
.049%
#7
.058%
#8
.051%
#9
.051%
#10
.051%
#11
.051%
#12
.046%
#13
.051%
#14
.051%
#15
.053%
#16
.048%
#17
.050%
#18
.050%
#19
.057%
#20
.000%
4. Rights Reserved to Declarant. Declarant reserves
the right to itself, its heirs, administrators, executors,
successors and assigns, to:
4.1 Physically combine the space within one Unit
with the space within one or more adjoining Units, and
4.2. Combine a part of or combination of parts of
the space within one Unit with part or parts of the space within
one or more adjoining Units, and subsequently separate all or any
of said combined units into their separate spaces, and
4.3 The aggregate of interests in the General
Common Elements and Limited Common Elements resulting from any
such combination or division of any Units or parts thereof shall
be reflected by an amendment to the percentage interests set
forth in Paragraph 3 above and to the Map, consistent with the
requirements set forth in this Declaration.
5. Limited Common Elements. A portion of the General
Common Elements is reserve or t e exclusive use of the indi-
vidual owners of the respective Units, and such areas are
referred to as "Limited Common Elements". The Limited Common
Elements so reserved shall be identified on the Map. (Any
balcony or balconies which are accessible only from within,
associated only with and which adjoin a single unit shall,
without further reference thereto, be used in connection with
such Unit to the exclusion of the use thereof by the other owners
of the General Common Elements, except by invitation.)
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6. Use of Certain Common Elements. All the owners of
Condominium UnitT s n-t is Condominium Pro-ect shall have a non-
exclusive right in common with all of the others to use of side-
walks, pathways, roads and streets located within the entire
project, if any. No reference thereto, whether such Common
Elements are exclusive or non-exclusive need be made in any deed,
instrument of conveyance or other instrument.
7. Inseparability of a Condominium Unit. Each Unit,
the appurtenant undivided interest in the General Common Elements
and appurtenant Limited Common Elements, if any, shall together
comprise one Condominium Unit, shall be inseparable and may be
conveyed, leased, devised or encumbered only as a Condominium
Unit.
8. Method of Description. Every contract for the
sale of a Condominium Unit and every other instrument affecting
title to a Condominium Unit shall describe that Condominium Unit
by the unit number and building designation as shown on the
Condominium Map appearing in the records of the County Clerk and
Recorder of Pitkin County, Colorado, in the following manner:
Condominium Unit , Prospector Condominiums according
to the Condominium Map appearing in the records of the
County Clerk and Recorder of Pitkin County, Colorado in
Plat Book at Page and as described in the
Condominium Declaration for Prospector Condominiums
appearing in such records in Book at Page
SUBJECT TO the terms, conditions, restrictions and
obligations as set forth in said Condominium Declara-
tion.
Such description shall, without further reference, be construed
to describe the Unit, together with the appurtenant undivided
interest in the Common Elements, and to incorporate all the
rights incident to the ownership thereof as described in this
Declaration.
9. Separate Assessment and Taxation - Notice to
Assessor. Declarant shall give written notice to the Assessor of
the County of Pitkin, Colorado of the creation of condominium
ownership as to the described real property and improvements, as
is provided by law, so that each Unit and the undivided interest
in the General Common Elements and Limited Common Elements appur-
tenant thereto shall be deemed a parcel and subject to separate
assessments and taxation. In the event that for a period of time
any taxes or assessments are not separately assessed to each Unit
owner, but are assessed on the property as a whole, then each
unit owner shall pay his proportionate share thereof in accord-
ance with his percentage ownership of the General Common Elements.
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10. Ownership - Title. A Condominium Unit may be held
and owned by more than one person as joint tenants or as
tenants -in -common, or in any real property tenancy relationship
recognized under the laws of the State of Colorado.
11. Non-Partitionability of General Common Elements.
The General Common Elements including Limited Common Elements
shall be owned in common by all of the owners of the Units and
shall remain undivided, and no owner shall bring any action for
partition or division of such Common Elements.
12. The Use of General and Limited Common Elements.
Each owner shall be entitled to exclusive ownership and posses-
sion of his or her Unit. Each owner may use the General and
Limited Common Elements in accordance with the purpose for which
they were intended, without hindering or encroaching upon the
lawful rights of the other owners, subject to such reasonable
rules and regulations as may, from time to time, be established
pursuant to the By -Laws of the Association. further, with
respect to the ownership and use of each Condominium Unit the
following restrictions and limitations shall apply:
12.1 Nothing shall be done or kept in any Unit or
in the General Common Elements and facilities or Limited Common
Elements and facilities which will increase the rate of insurance
on said common or limited common areas and facilities without the
prior written consent of the Board of Governors. No owner shall
permit anything to be done or kept in his or her Unit or in the
General Common Elements or Limited Common Elements or facilities
which will result in the cancellation of insurance of any Unit or
any part of the common or limited common areas or facilities or
which would be in violation of any law. No waste will be
committed of the common or limited common areas and facilities.
12.2 No poster, sign or flag of any kind shall be
displayed to the public view or from any Unit or from the General
Common or Limited Common Elements and facilities without the
prior consent of the Board of Governors, provided, however, that
this provision shall not apply to signs placed by any Managing
Agent and necessary to the operation of the condominium project.
12.3 No animals, livestock or poultry of any kind
including dogs and cats, shall be raised, bred, or kept in any
unit or in the common or limited common areas and facilities.
12.4 No noxious or offensive activity shall be
carried on in any Unit, in the General Common Elements or Limited
Common Elements and facilities nor shall anything be done therein
which may be or become an annoyance or nuisance to other owners.
12.5 Nothing shall be altered or constructed in
or removed from the General or Limited Common Elements, except
upon the written consent of the Board of Governors.
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12.6 There shall be no violation of any rules or
regulations for the use of the General or Limited Common Elements
as from time to time adopted by the Board of Governors and fur-
nished in writing to the owners, and the Board of Governors may
from time to time also amend such rules or regulations so long as
such rules, regulations, or any amendments thereto are reason-
able.
13. Use and Occupancy.
13.1 All Condominium Units shall be used and
occupied solely for lodging and residential purposes by the
owner, by the owner's family or the owner's guests and tenants.
Leasing and renting of the units for residential purposes shall
not be considered a violation of this covenant.
13.2 An owner's personal use of his unit shall be
restricted in compliance with Section 20-23 (A)(1)(a) of the
Municipal Code of the City of Aspen, as amended.
13.3 A violation of the owner's personal use
restriction by a unit owner shall subject the owner to a daily
assessment by the condominium association of three (3) times the
daily rental rate for the unit, at the time of the violation,
which assessment, when paid, shall be deposited in the general
funds of the condominium association for use in upgrading and
repairing the common elements of the condominium. All sums
assessed against an owner for violation of the owner's personal
use restriction and unpaid shall constitute a lien for the
benefit of the condominium association on that owner's unit,
which lien shall be evidenced by written notice placed of record
in the office of the clerk and recorder of Pitkin County,
Colorado, and may be collected by foreclosure on an owner's
condominium unit by the association in like manner as a mortgage
or deed of trust on real property. The condominium association's
failure to enforce the owner's personal use restriction shall
give the City of Aspen the right to enforce the restriction by
the assessment and the lien provided for hereunder. If the City
of Aspen enforces the restriction, the City shall receive the
funds collected as a result of the assessment for the violation.
In the event litigation results from the enforcement of the
restriction, as part of its reward to the prevailing party, the
court shall award such party its court costs together with
reasonable attorney's fees incurred.
13.4 For so long as a restaurant and bar are operated
in Unit 99 in a legal manner in accordance with the laws of the
City of Aspen, Colorado, which operation shall include music and
entertainment, neither the Condominium Association, Board of
Governors, Managing Agent, or Unit Owners, shall do anything that
would interfere with or have any adverse affect upon the opera-
14. Easements for Encroachments. If any portion of
the General Common Elements encroaches upon a Unit or Units, a
valid easement for the encroachment and for the maintenance of
same, so long as it stands, shall and does exist. If any portion
of a Unit encroaches upon the General Common Elements, or upon
any adjoining unit or units, a valid easement for the encroach-
ment and for the maintenance of same, so long as it stands,
shall and does exist. Such encroachments and easements shall not
be considered or determined to be encumbrances either on the
General Common Elements or on the Units. In the event that any
one or more of the Units or buildings or improvements comprising
part of the General Common Elements are partially or totally
destroyed and are then rebuilt or reconstructed in substantially
the same location and as a result of such rebuilding a portion
thereof shall encroach as provided in the preceding sentence, a
valid easement for such encroachment shall and does exist.
15. Termination of Mechanics' Lien Rights and
Indemnification. Subsequent to the completion of the improve-
ments described on the Map, no labor performed or materials
furnished and incorporated in a Unit with the consent or at the
request of the Unit owner or his agent or his contractor or
subcontractor shall be the basis for a filing of a lien against
the Unit or any other Unit owner not expressly consenting to or
requesting the same, or against the General or Limited Common
Elements. Each owner shall indemnify and hold harmless each of
the other owners from and against all liability arising from the
claim of any lien against the Unit of any other owner or against
the General or Limited Common Elements for construction performed
or for labor, materials, services, or other products incorporated
in the owner's Unit at such owner's request.
16. Condominium Association. Administration and
management of this Condominium Project shall be governed by the
Articles of Incorporation and By -Laws of the Association. An
owner of a Condominium Unit, upon becoming an owner, shall be a
member of the Association and shall remain a member for the
period of his ownership. The Association shall be initially
governed by the Board of Directors designated in the By -Laws of
the Association; provided that the Declarant shall exercise the
rights, duties and functions of the Board of Directors by and
through the persons named by Declarant as the Directors until the
development of the entire condominium project has been completed
and until nineteen (19) condominium units have been sold and
closed.
17. Certificate of Identity. There shall be recorded
from time to time a certificate o i entity which shall include
the addresses of the persons then comprising the management body
(Directors and Officers) together with the identity and address
of any Managing Agent. Such certificate shall be conclusive
evidence of the information contained therein in favor of any
person relying thereon in good faith regardless of the time
elapsed since the date thereof. The first such certificate shall
be recorded on or before a date which is 90_days from the record-
ing of this Declaration; however, no failure to renew such
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certificate shall have the effect of limiting or impairing the
powers, duties or responsibilities of any duly constituted Board
of Directors, or the officers of any Managing Agent properly
appointed by them.
18. Reservation for Access. The Declarant, any entity
to whom it assigns this right, an persons either of them may
select, shall have the right of ingress and egress over, upon and
across the General Common and Limited Common Elements and the
right to store materials thereon and make such other use thereof
as may be reasonably necessary incident to construction, develop-
ment, sale and operation of the Condominium Project as a resort
condominium facility.
19. Board of Directors. The owners shall have the
irrevocable right, to be exercised by any Managing Agent, or
Board of Directors of the Association, to have access to each
Unit from time to time during reasonable hours under the par-
ticular circumstances as may be necessary for the maintenance,
repair or replacement of any of the General or Limited Common
Elements therein or accessible therefrom, or for making emergency
repairs therein necessary to prevent damage to such Common
Elements or to another Unit or Units. Damage to the interior or
any part of a Unit or Units resulting from the maintenance,
repair, emergency repair or replacement of any of the General or
Limited Common Elements or as a result of emergency repairs to
General or Limited Common Elements, within another Unit at the
instance of the Association shall be a common expense of all of
the other owners; provided, however, that if such damage is the
result of the misuse or negligence of a Unit owner, then such
owner shall be responsible and liable for all such damage. All
damaged improvements shall be restored to substantially the same
condition of such improvements prior to damage. All maintenance,
repairs, and replacements as to the General or Limited Common
Elements, whether located inside or outside of Units (unless
necessitated by the negligence or misuse of such Unit owner)
shall be the common expense of all of the owners.
20. Owner's Maintenance Responsibility of Unit,
Balconies and Storage Areas. For purposes of maintenance,
repair, alteration and remodeling, an owner shall be deemed to
own the interior non -supporting walls, the materials (such as,
but limited to, plaster, gypsum drywall, paneling, wallpaper,
paint, wall and floor tile and flooring, but not including the
subflooring) making up the finished surfaces of the perimeter
walls, ceilings and floors within the Unit, including interior
unit doors and windows. The owner shall not be deemed to own
lines, pipes, wires, conduits or systems (which for brevity are
herein and hereafter referred to as utilities) running through
his or her Unit which serve one or more other Units except as a
tenant -in -common with the other owners. Such utilities shall not
be disturbed or relocated by an owner without the written consent
and approval of the Board of Directors. Such right to repair,
alter and remodel is coupled with the obligation to replace any
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finishing or other materials removed with similar or other types
or kinds of materials. An owner shall maintain and keep in
repair the interior of his or her own Unit, including the
fixtures thereof. All fixtures and equipment installed within
the Unit commencing at a point where the utilities enter the Unit
shall be maintained and kept in repair by the owner thereof. An
owner shall do no act nor any work that will or may impair the
structural soundness or integrity of the building or impair any
easement or hereditament without the written consent of the Board
of Directors or the Association, after first demonstrating to the
satisfaction of said Board of Directors that such work or act
will not impair structural soundness and that such work or act
shall be done or performed in a workmanlike manner. Any expense
to the Board of Directors for investigation under this Paragraph,
including but not limited to the engaging of a structural
engineer or architect, shall be for the account of the owner
seeking the consent. The decision of the Board of Directors
shall not be subject to review and shall be subject to their
absolute discretion. An owner shall also keep the balcony area
appurtenant to his Unit in a clean and sanitary condition and
free and clear of snow, ice and any accumulation of water. All
other maintenance or repairs to any Limited Common Elements
(unless necessitated by the negligence or misuse of a unit owner,
in which case such expense shall be charged to Unit owner) shall
be at the expense of all the owners.
21. Compliance with Provisions of Declaration, By Laws
of the Association. Each owner shall comply strictly with the
provisions of this Declaration, the Articles of Incorporation and
the By -Laws of the Association, and the decisions and resolutions
of the Association adopted pursuant thereto as the same may be
lawfully amended from time to time. Failure to comply with any
of the same shall be grounds for an action to recover sums due
for damages, or for injunctive relief or both, and for reimburse-
ment of all costs and attorneys' fees incurred in connection
therewith, which action may be maintained by the Managing Agent
or Board of Directors in the name of the Association on behalf of
the owners, or, in a proper case by an aggrieved owner.
22. Revocation or Amendment to Declaration. This
Declaration shall not be revoked unless all of the owners and all
of the holders of any recorded mortgage or deed of trust covering
or affecting any or all of the Condominium Units unanimously
consent and agree to such revocation by instrument(s) duly
recorded. This Declaration shall not be amended unless the
owners representing an aggregate ownership interest of eighty
percent (80%) or more of the General Common Elements, and in the
event such amendment affects the rights of the holders of
security interests in the condominiums, then the holders of all
recorded first or second mortgages or deeds of trust covering or
affecting any or all Condominium Units, must consent and agree to
such amendment by instrument(s) duly recorded; provided, however,
that the percentage of the undivided interest in the Common
Elements shall have a permanent character and shall not be
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0
0
altered without the written consent of all of the Unit owners
expressed in any amended Declaration duly recorded.
23. Additions, Alterations and Improvements of General
and Limited Common Elements. There shall be no additions altera-
tions or improvements by the Board of Directors or the Managing
Agent of or to the General or Limited Common Elements requiring
an expenditure in excess of Five Thousand and No/100 Dollars
($5,000.00) in any one calendar year without prior written
approval of a majority of the owners holding a majority of the
interest in the General Common Elements, in writing, or as
reflected in the minutes of a regular or special meeting or the
owners. Such limitation shall not be applicable to the replace-
ment, repair, maintenance or obsolescence of any General or
Limited Common Element. An individual Unit owner shall do no
alterations, additions, or improvements to the General Common
Elements or the Limited Common Elements without the approval in
writing of the owners of Eighty percent (80%) or more of the
General Common Elements or as reflected in the minutes of a
regular or special meeting of the owners.
24. Assessment for Common Expenses. All owners, shall
be obligated to pay the assessments, either estimated or actual,
imposed by the Board of Directors of the Association to meet the
common expenses. The assessments for all Unit owners, shall be
made according to each owner's percentage interest in the General
Common Elements as is set forth in Paragraph 3 above. Except as
provided in Paragraph 20, the Limited Common Elements shall be
maintained as General Common Elements, and owners having
exclusive use thereof shall not be subject to any special charges
or assessments for the repair or maintenance thereof. Assess-
ments for the estimated common expenses shall be made at least
semi-annually and shall be due immediately upon receipt. The
Managing Agent or Board of Directors shall prepare and deliver or
mail to each owner a statement for the estimated or actual common
expenses.
24.1 The assessments made for common
expenses shall k;e the sum which the Managing Agent, or if there
is no Managing Agent, then the Board of Directors of the Associ-
ation shall from time to time determine is necessary to be paid
by all of the Condominium Unit owners to provide for the payment
of all estimated expenses growing out of or connected with the
maintenance, repair, operation, replacements, additions, altera-
tions, and improvements to the Common Elements include, but shall
not be limited to, expenses of management; taxes and special
assessments until separately assessed; premiums for fire
insurance with extended coverage and vandalism and malicious
mischief with endorsements attached issued in the amount of the
maximum replacement value of all of the Common Elements and
Condominium Units (including all fixtures, interior walls and
partitions, decorated and finished surfaces of perimeter walls,
floors and ceilings, doors, windows -and other elements or
materials comprising a part of the Units) casualty and public
-12-
1ldul1ll.y dnd other insurance premiums; landscaping and care of
grounds; common lighting and heating; sewer charges; legal and
accounting fees; expenses and liabilities incurred by the
Managing Agent by reason of this Declaration and the By -Laws of.
the Association; for any deficit arising or any deficit remaining
from a previous period; the creation of a reasonable contingency
reserve, working capital, and sinking funds as well as other
costs and expenses relating to the Common Elements. The omission
or failure of the Board of Directors to fix the assessment for
any period shall not be deemed a waiver, modification or a
release of the owners from their obligation to pay the same.
24.2 The expenses provided for in this paragraph
and the maintenance, improvements, and replacements giving rise
to such expenses shall be deemed a benefit to and a burden upon
the Condominium Units within the purview of this Condominium
Declaration, shall run with the land, and shall be collected by
foreclosure of a lien against each Unit owner failing or refusing
to pay his or her prorata share within the time provided, all as
more fully set forth in Paragraph 27 below.
25. Insurance. The Managing Agent, or if there is no
Managing Agent, then the Board of Directors, shall obtain and
maintain at all times insurance of the type and kind provided
hereinabove and provide for such other risks, of a similar or
dissimilar nature, as are or shall hereafter customarily be
covered with respect to other condominium buildings, fixtures,
equipment and personal property, similar in construction, design
and use issued by responsible insurance companies authorized to
do business in the State of Colorado,.covering the buildings and
improvements on the real property and all personal property
included in the Common Elements in an amount equal to the maximum
insurable replacement value thereof. The insurance shall be
carried in blanket policy form naming the Association the
insured, as attorney -in -fact (for all of the condominium owners),
which policy or policies shall indentify the interest of each
condominium Unit owner (owner's name, unit number, building
designation), and which policy or policies shall provide a
standard non-contributory mortgagee clause in favor of each first
or second mortgagee or deed of trust beneficiary, and provide
that the policy cannot be cancelled or substantially modified
until after ten days prior written notice is first given to each
owner and each first or second mortgagee or beneficiary as
defined hereunder.
25.1 The Managing Agent, or if there is no
Managing Agent, then the Board of Directors, shall obtain and
maintain, to the extent obtainable, public liability insurance in
such limits as may from time to time be determined, covering each
Unit owner, persons renting from the owner, and their invitees
and business guests, each member of the Board of Directors, the
Managing Agent and the resident manager. Such public liability
coverage shall also cover cross liability claims of one insured
agent against another and shall contain waivers of subrogation to
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the extent reasonably practicable. Each owner may obtain
additional insurance at his or her own expense for his or her own
benefit provided that all such policies shall contain waivers of
subrogation to the extent practicable, and provided further, that
the liability of the carriers issuing insurance shall not be
affected or diminished by reason of any such insurance carried by
any Unit owner.
25.2 To the extent any insurance is to be main-
tained in amounts calculated by reference to replacement value,
the Board of Directors shall designate a general contractor
licensed to do business in the State of Colorado to estimate such
replacement value each three years beginning with the three year
period ending three years from the date of the recording of this
Declaration.
25.3 Insurance coverage of the furnishings and
other items of personal property belonging to an owner and
casualty and public liability insurance coverage within each
individual Unit shall be the responsibility of the owner thereof.
26. Owner's Personal Obligation for Payment of
Assessments. T e ma ount of the common expenses assessed against
each Condominium Unit shall be the personal and individual debt
of the owner thereof. No owner may exempt himself or herself
from liability for his or her contribution towards the common
expenses by waiver of the use or enjoyment of any of the Common
Elements or by abandonment of his or her Unit. Both the Board of
Directors and Managing Agent shall have the responsibility to
take prompt action to collect any unpaid assessment which remains
unpaid more than fifteen (15) days from the due date for payment
thereof. In the event of default in the payment of the assess-
ment, the Unit owner shall be obligated to pay interest at the
rate of twenty-four percent (24%) per annum on the amount of the
assessment from due date thereof, together with all expenses
including attorneys' fees incurred, together with such late
charges as provided by the By -Laws of the Association. *uit to
recover a money judgment for unpaid common expenses shall be
maintainable without foreclosing or waiving the lien securing
same.
27. Assessment Lien and Foreclosure. All sums assessed
but unpaid for the share of common expenses chargeable to any
Condominium Unit shall constitute a lien on such Unit superior to
all other liens and encumbrances, except only for tax and special
assessment liens on the Unit and liens in favor of any holder of
a first or second mortgage or beneficiary of a deed of trust of
record, including all unpaid obligatory sums as may be provided
by such encumbrance. To evidence such lien, the Board of
Directors or the Managing Agent shall prepare a written notice of
lien assessment setting forth the amount of such unpaid indebted-
ness, the name of the owner of the Condominium Unit and a
description of the Condominium Unit. Such a notice shall be
signed by one of the Board of Directors or by one of the officers
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uL uiie ti�>sociation or by the Managing Agent and shall be recorded
in the office of the Clerk and Recorder of Pitkin County,
Colorado. Such lien for the common expenses shall attach from
the date of the failure of payment of the assessment. Such lien
may be enforced by the foreclosure of the defaulting owner's
Condominium Unit by the Association in like manner as a mortgage
or deed of trust on real property subsequent to the recording of
a notice or claim thereof. In any such proceeding the owner
shall be required to pay the Association the monthly assessment
for the Condominium Unit during the period of foreclosure, and
the Association shall be entitled to a receiver to collect the
same. The Association shall have the power to bid in the
Condominium Unit at foreclosure or other legal sale and to
acquire and hold, lease, mortgage, vote the votes appurtenant to,
convey or otherwise deal with the same. Any encumbrancer holding
a lien on a Condominium Unit may pay, but shall not be required
to pay, any unpaid common expenses payable with respect to such
Unit, and upon such payment such encumbrancer shall have a lien
on such Unit for the amounts paid of the same rank as the lien of
his encumbrance. Upon request of a mortgagee or deed of trust
beneficiary, the Association shall report to such mortgagee or
beneficiary of a Condominium Unit any unpaid assessments
remaining unpaid for longer than thirty (30) days after the same
are due; provided, however, that a mortgagee or beneficiary shall
have furnished to the Managing Agent or the Board of Directors
notice of such encumbrance.
28. Liability for Common Expense Upon Transfer of
Condominium Unit is Joint. Upon payment to the Managing Agent or
if there is no Managing Agent, then to the Association of a
reasonable fee not to exceed Twenty -Five Dollars ($25.00), and
upon the written request of any owner or any mortgagee, deed of
trust beneficiary, or prospective mortgagee or beneficiary, of a
Condominium Unit, the Association, by its Managing Agent, or if
there is no Managing Agent then by the financial officer of the
Association shall issue a written statement setting forth the
amount of the unpaid common expenses, if any, with respect to the
subject Unit, the amount of the current monthly assessment and
the date that such assessment becomes due, credit for any
advanced payments of common assessments, for prepaid items, such
as insurance premiums, but not including accumulated amounts for
reserves or sinking funds, if any, which statement shall be
conclusive upon the Association in favor of all persons who rely
thereon in good faith. Unless such request for a statement of
indebtedness shall be complied with within ten (10) days, all
unpaid common expenses which became due prior to the date of
making such request shall be subordinate to the rights of the
person requesting such statement. The grantee of a Condominium
Unit shall be jointly and severally liable with the grantor for
all unpaid assessments against the latter for the unpaid common
assessments up to the time of the grant or conveyance, without
prejudice to the grantee's right to recover from the grantor the
amounts paid by the grantee therefor; provided, however, that
upon payment of a reasonable fee not to exceed Twenty-five
51*7Z
Dollars ($25.00), as is hereinabove provided, and upon written
request, any such prospective grantee shall be entitled to a
statement from the Managing Agent, or if there is no Managing
Agent, then from the Association, setting forth the amount of the
unpaid assessments, if any, with respect to the subject unit, the
amount of the current monthly assessment, the date that such
assessment becomes due, and credits for any advanced payments of
common assessments, prepaid items, such as insurance premiums,
which statements shall be conclusive upon the Association.
Unless such request for such a statement shall be complied with
within ten (10) days of such request, then such requesting
grantee shall not be liable for, nor shall the Unit conveyed be
subject to a lien for any unpaid assessments against the subject
Unit up to the date such request was made. The provisions set
forth in this paragraph shall not apply to the initial sales and
conveyances of Condominium Units made by Declarant, and such
sales shall be free from common expenses to the date of con-
veyance made or to a date as agreed upon by Declarant and
Declarant's grantee.
29. Mortgaging a Condominium Unit - Priority. An owner
shall have the right from time to time to mortgage or encumber
his or her interest by deed of trust, mortgage or other security
instrument. A first mortgage or deed of trust beneficiary shall
be one which has first and paramount priority under applicable
law. The owner of a Condominium Unit may create junior
mortgages, liens, or encumbrances on the following conditions:
29.1 That any such junior mortgages or liens shall
always be subordinate to all of the terms, conditions, covenants,
restrictions, uses, limitations, obligations, liens or common
expenses (except as otherwise provided herein), and other obliga-
tions created by this Declaration, the Articles of Incorporation
and the By -Laws for the Association.
29.2 That the mortgagee or lien holder under any
junior encumbrance shall release, for the purpose of restoration
of any improvements upon the mortgaged premises, all of his
right, title, and interest in and to the proceeds under all
insurance policies upon said premises obtained by the Association
to the extent of such restoration (except as otherwise provided
herein). Such release shall be furnished forthwith by a junior
encumbrancer upon written request of one or more of the members
of the Board of Directors of the Association.
30. Association as Attorney -in -fact, Damage,
obsolescence and Condemnation. This Declaration does hereby make
mandatory the irrevocable appointment of an attorney -in -fact to
deal with the improvements to the Condominium Project upon their
condemnation, damage, destruction, or obsolescence. Title to any
Condominium Unit is declared and expressly made subject to the
terms and conditions hereof, and acceptance by any grantee of a
deed or other instrument of conveyance from the Declarant or from
any owner or grantor shall constitute appointment of the
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attorneyin-fact herein provided. All of the owners irrevocably
constitute and appoint the Association their true and lawful
attorney in their name, place, and stead for the purpose of
dealing with any improvements within the condominium project upon
their condemnation or damage, destruction,' or obsolescense, all
as is hereinafter provided. As attorney -in -fact, the Association
by its President and Secretary or Assistant Secretary, shall have
full and complete authorization, right and power to make, execute
and deliver any contract, deed or other instrument with respect
to the interest of a Condominium Unit owner which is necessary
and appropriate to exercise the powers herein granted. Repair
and construction of the improvements as used in the succeeding
subparagraphs means restoring the improvements to substantially
the same condition in which they existed prior to the damage,
with each Unit and the General and Limited Common Elements having
substantially the same vertical and horizontal boundaries as
before. The proceeds of any insurance collected shall be avail-
able to the Association for the purpose of repair, restoration,
or replacements unless the owners and all first or second mort-
gagers or deed of trust beneficiaries agree not to rebuild in
accordance with the provisions set forth hereinafter.
30.1 In the event of damage or destruction due to
fire or other disaster, the insurance proceeds, if sufficient to
reconstruct the improvements, shall be applied by the
Association, as attorney -in -fact, to cause the repair and
restoration of the improvements.
30.2 If the insurance proceeds are insufficient to
repair and reconstruct the improvements, and if such damage is
determined to be not more than sixty percent (60%) of all of the
improvements in the Condominium Project, not including land (but
including landscaping, roads, and including utilities to the
extent their replacement is not the responsibility of a utility
company), such damage or destruction shall be promptly repaired
and reconstructed by the Association, as attorney -in -fact, using
the proceeds of insurance and the proceeds of a special assess-
ment if the insurance proceeds are insufficient, to be made
against all of the owners and their Condominium Units. Such
assessment shall be a common expense and made pro rata according
to each owner's percentage interest in the General Common
Elements and shall be due and payable within thirty (30) days
after written notice thereof. The Association shall have full
authority, right and power, as attorney -in -fact, to cause the
repair or restoration of the improvements using all of the
insurance proceeds for such purpose notwithstanding the failure
of an owner to pay the assessment. The assessment provided for
herein shall be a debt of each owner and a lien on his or her
Condominium Unit and may be enforced and collected as is provided
in paragraphs 26 and 27 above. In addition thereto, the Associ-
ation, as attorney -in -fact, shall have the absolute right and
power to sell the Condominium Unit of any owner refusing or
failing to pay such deficiency, within the time provided, and if
not so paid, the Association shall cause to be recorded a notice
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t-naL une condominium Unit of the delinquent owner shall be sold
by the Association, as attorney -in -fact, pursuant to the pro-
visions of this paragraph. The delinquent owner shall be
required to pay the Association the costs and expenses for filing
the notices, interest on the amount of the assessment at the rate
of twenty-four percent (24%) per annum and all reasonable
attorneys' fees and costs incident to a sale. The proceeds
derived from the sale of such Condominium Unit shall be used and
disbursed by the Association, as attorney -in -fact, in the
following order:
30.2.1 For payment of taxes and special assess-
ments whether or not recorded as liens as of the date of sale and
customary expense of sale;
30.2.2 For payment of the balance of the lien of
any first mortgage or deed of trust and then for the balance of
any second mortgage or deed of trust;
30.2.3 For payment of unpaid common expenses
(other than special assessment) and all costs, expenses, and fees
incurred by the Association;
30.2.4 For payment of junior liens and encum-
brances in the order of and to the extent of their priority; and
30.2.5 The balance, if any, shall be paid to the
unit owner.
30.3 If the insurance proceeds are insufficient
to repair and reconstruct the damaged improvements, and if such
damage is determined to be more than sixty percent (60%) of all
of the improvements in the Condominium Project, not including
land (but including landscaping, roads, and utilities when re-
placement is not the responsibility of a utility company) and if
the owners representing an aggregate ownership interest of
fifty-one percent (51%) or more, of the General Common Elements
do not voluntarily, within one hundred (100) days thereafter make
provisions for reconstruction, which plan must have the unanimous
approval or consent of every first and second mortgagee, or deed
of trust beneficiary, the Association shall forthwith record a
notice setting forth such fact or facts, and upon the recording
of such notice by the Association, the entire premises, including
the damaged part and the undamaged part, shall be sold by the
Association, as attorney -in -fact, for all of the owners, free and
clear and clear of the other provisions contained in this Dec-
laration, the Condominium Map and the By -Laws; provided, however,
assessments for Common Elements shall not be abated for the
period prior to sale. The insurance settlement proceeds shall be
collected by the Association, and such proceeds shall be divided
by the Association according to each owner's percentage interest
in the General Common Elements, and such divided proceeds shall
be paid into separate accounts, each such account representing
one of the Condominium Units. Each such account shall be in the
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0 0
name of the Association, and shall he further identified by the
Condominium Unit designation. The total funds of each account
shall be used and disbursed, without contribution from one
account to another, by the Association, as attorney -in -fact, for
the same purpose and in the same order as•is provided in sub-
paragraphs 30.2.1 through 30.2.5 of this paragraph.
30.4 If within the time provided in paragraph
30.3 above, the owners representing an aggregate ownership in-
terest of fifty-one percent (51%) or more of the General Common
elements adopt a plan for reconstruction which plan has the
unanimous approval of all first and second mortgagees and deed of
trust beneficiaries, then all of the owners shall be bound by the
terms and other provisions of such plan. Any special assessment
made in connection with such plan shall be a common expense and
made pro rata according to each owner's percentage interest in
the General Common Elements and shall be due and payable as
provided by the terms of such plan, but not sooner than sixty
(60) days after written notice thereof. The Association shall
have full authority, right and power, as attorney -in -fact, to
cause the repair or restoration of improvements using all of the
insurance proceeds for such purpose notwithstanding the failure
of an owner to pay the assessment. The assessment provided for
herein shall be a debt of each owner and a lien on his or her
Condominium Unit and may be enforced and collected as is provided
in paragraphs 26 and 27 above. In addition thereto, the Asso-
ciation, as attorney -in -fact, shall have the absolute right and
power to sell the Condominium Unit of any owner refusing or
failing to pay such assessment within the time provided, and if
not so paid, the Association shall cause to be recorded a notice
that the Condominium Unit of a delinquent owner shall be sold by
the Association. The delinquent owner shall be required to pay
the Association the costs and expenses for filing the notices,
interest at the rate of twenty-four percent (24%) per annum on
the amount of the assessment and all costs and reasonable
attorneys' fees. The proceeds derived from the sale of such
Condominium Unit shall be used and disbursed by the Association,
as attorney -in -fact, for the same purposes and in the same order
as is provided in subparagraphs 30.2.1 through 30.2.5 of this
paragraph.
30.5 The owners representing an aggregate owner-
ship interest of eighty percent (80%) or more of the General
Common Elements may agree that the General Common Elements are
obsolete and adopt a plan for their renewal and reconstruction,
which plan has the unanimous approval of all first and second
mortgagees and deed of trust beneficiaries of record at the time
of the adoption of such plan. If a plan for renewal and recon-
struction is adopted, notice of such plan shall be recorded, and
the expense of renewal and reconstruction shall be payable by all
of the owners as common expenses; provided, however, that an
owner not a party to such a plan for renewal or reconstruction
may give written notice to the Association within fifteen (15)
days after the date of adoption of such plan that such unit shall
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9 •
be purchased by the Association for the fair market value there-
of. The Association shall then have thirty days (thereafter)
within which to cancel such plan. If such plan is not cancelled,
the Condominium Unit of the requesting owner shall be purchased
according to the following procedures. If such owner and the
Association can agree on the fair market value thereof, then such
sale shall be consummated within thirty (30) days thereafter. If
the parties are unable to agree, the date when either party
notifies the other that he or she is unable to agree with the
other shall be the "commencement date" from which all periods of
time mentioned herein shall be measured. Within ten (10) days
following the commencement date, each party shall nominate in
writing (and give notice of such nomination to the other party)
an appraiser. If either party fails to make such a nomination,
the appraiser nominated shall, within five (5) days after default
by the other party appoint another appraiser. If the two desig-
nated or selected appraisers are unable to agree as to the fair
market value of the Condominium Unit, they shall appoint another
appraiser to be umpire between them, if they can agree on such
person. If they are unable to agree upon such umpire, each
appraiser previously appointed shall nominate two appraisers, and
from the names of the four appraisers so nominated one shall be
drawn by lot by the appraiser appointed by the owner in the
presence of the other appraiser, and the person whose name was so
drawn shall be the umpire. The nominations from whom the umpire
is to be drawn by lot shall be submitted within ten (10) days of
the failure of the two appraisers to agree, which, in any event,
shall not be later than twenty (20) days following the appoint-
ment of the second appraiser. The decision of the appraisers as
to the fair market value, or in the case of their disagreement,
then the decision of the umpire, shall be final and binding. The
expenses and fees of such appraisers shall be borne equally by
the Association and the owner. The sale shall be consummated
within fifteen (15) days thereafter, and the Association, as
attorney -in -fact, shall disburse the proceeds for the same pur-
poses and in the same order as is provided in subparagraphs
30.2.1 through 30.2.5 of this paragraph.
30.6 The owners representing an aggregate owner-
ship interest of eighty percent (80%) or more of the General
Common Elements, with the unanimous consent of all holders of the
first mortgage and deeds of trust and second mortgagee and deeds
of trust, may agree that the Condominium Units are obsolete and
the same should be sold. In such instance, the Association shall
forthwith record a notice setting forth such fact or facts, and
upon the recording of such notice by the Association's President
and Secretary or Assistant Secretary, the entire premises shall
be sold by the Association, as attorney -in -fact for all of the
owners, free and clear of the provisions contained in this Decla-
ration, the Map and By -Laws. The sales proceeds shall be appor-
tioned between the owners on the basis of each owner's percentage
interest in the General Common Elements, and such apportioned
proceeds shall be paid into separate accounts, each such account
representing one Condominium Unit and each such account shall be
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•
•
in the name of the Association and shall
the condominium unit designation and the
each separate account, the Association,
shall use and disburse the total amount
accounts, without contribution from one
the same purposes and in the same order
paragraphs 30.2.1 through 30.2.5 of this
be further identified by
name of the owner. From
as attorney -in -fact,
(of each) of such
account to another, for
as is provided in sub-
paragraph.
30.7 If at any time while this Condominium Dec-
laration is in effect, any portion of the Condominium Project
shall be taken for any public or quasi -public use by a lawful
power or authority by the exercise of the right of condemnation
or eminent domain, then the following provisions shall apply with
respect to any proceeds arising out of such condemnation or
eminent domain and to the sale of remaining portions of the
Condominium Project:
30.7.1 If such proceeds relate to General
Common Elements not included in any building containing Condo-
minium Units, then such proceeds shall be paid to the Association
of Unit Owners to be used in such manner as its Board of
Directors shall determine.
30.7.2 If such proceeds relate to any
building containing Condominium Units, then if less than all of
such building has been condemned the remainder of such building
shall be sold in such manner as the Board of Governors determines
and the proceeds of such sale together with the proceeds from the
condemnation or exercise of eminent domain for such building
shall be divided by the Association for each owner of a unit
within such building according to each owner's percentage
interest in the General Common Elements in the ratio of each such
owner's interest in such elements to those of the other owners
participating in such division. Such proceeds shall be paid into
separate accounts, each such account representing one of the
Condominium Units. Each such account shall be in the name of the
Association and shall be further identified by the Condominium
Unit designation and the name of the owner. From each separate
account the Association, as attorney -in -fact, shall forthwith use
and disburse the total amount of each such account, without
contribution from one account to another, in the manner and in
the priority set forth in subparagraphs 30.2.1 through 30.2.5
hereof.
31. Personal Property for Common Use. The Association,
as attorney -in -fact for all of the owners, may acquire and hold
for the use and benefit of all of the Condominium Unit owners,
real, tangible and intangible personal property and may dispose
of the same by sale or otherwise. The beneficial interest in any
such property shall be owned by all of the Condominium Unit
owners in the same proportion as their respective interests in
the General Common Elements, and such interest therein shall not
be transferable except with a transfer of a Condominium Unit. A
transfer of a Condominium Unit shall transfer to the transferee
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ownership of the transferor's beneficial interest in such
property in accordance with the purpose for which it is intended
without hindering or encroaching upon the lawful rights of the
other owners. The transfer of title to a Condominium Unit under
foreclosure shall entitle the purchaser to.the beneficial
interest in such personal property associated with the foreclosed
condominium unit.
32. RRe5iisttration of Mailing Address. Each owner shall
register his or her mailing address or any change thereof with
the Association, and all notices or demands, except routine
statements and notices, intended to be served upon an owner shall
be sent and shall be deemed to have been delivered when mailed by
certified mail, postage prepaid, addressed in the name of the
owner at such last registered mailing address. All notices,
demands or other notices intended to be served upon the Board of
Directors of the Association or the Association shall be sent
certified mail, postage prepaid, to Prospector Condominium
Association, Inc., c/o Garfield & Hecht, P.C., 601 East Hyman
Avenue, Aspen, Colorado 81611 until such address is changed by
notice of address change duly recorded in the office of the Clerk
and Recorder, City of Aspen, County of Pitkin, Colorado.
33. Period of Condominium Ownership. The separate
condominium estates created by this Declaration and the Map shall
continue until this Declaration is revoked or terminated in the
manner provided in this Declaration.
34. General Reservations. Declarant reserves the right
to establish easements, reservations, exceptions, and exclusions
consistent with the condominium ownership of the Condominium Unit
in order to serve, benefit or protect the entire Condominium
Project.
35. Miscellaneous.
33.1 The failure of the Board of Directors or the
Managing Agent to insist in any one or more instances, upon the
strict performance of any of the terms, covenants, conditions, or
restrictions of this Declaration, or to exercise any right or
option herein contained, or to serve any notice or to institute
any action shall not be construed as a waiver or a relinquishment
for the future, of such term, covenant, condition or restriction;
but such term, covenant, condition or restriction shall remain in
full force and effect. The receipt by the Board of Directors or
the Managing Agent of any assessment from an owner, with know-
ledge of the breach of any covenant hereof shall not be deemed a
waiver of such breach, and no waiver by the Board of Directors or
the Managing Agent of any provision hereof shall be deemed to
have been made unless expressed in writing and signed by the
Board of Directors or Managing Agent.
35.2 The Board of Directors shall not be liable
for any failure of any service to be obtained and paid for by the
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9 •
Board of Directors hereunder, or for injury or damage to person
or property unless caused by the gross negligence of the Board of
Directors. The Board of Directors may limit the liability of the
Managing Agent to instances of its gross negligence as well. No
diminution or abatement of common expense.assessments shall be
claimed or allowed for inconveniences or discomfort arising from
the making of repairs or improvements to the common areas and
facilities or from any action taken to comply with any law,
ordinance or orders of a governmental authority.
35.3 Each member of the Board of Directors shall
be indemnified by the owners against all expenses and liabilities
including attorney's fees, reasonably incurred by or imposed upon
him or her in connection with any proceeding to which he or she
may be a party, or in which he or she may become involved, by
reason of his being or having been a member of the Board of
Directors, or any settlement thereof whether or not he or she is
a member of the Board of Directors at the time such expenses are
incurred, except in such cases wherein the member of the Board of
Directors is adjudged guilty of willful misfeasance or
malfeasance in the performance of his or her duties; provided
that in the event of a settlement the indemnification shall apply
only when the Board of Directors approves such settlement as
being in the best interests of the Association. Said right of
indemnification may be more fully set forth and provided for in
the Articles of Incorporation or By -Laws of the Association.
35.4 Each owner shall comply strictly with the
provisions of this Declaration, the By -Laws and the adminis-
trative rules and regulations drafted pursuant thereto as the
same may be lawfully amended from time to time and with decisions
adopted pursuant to said Declaration, By -Laws, or such rules and
regulations, and failure to comply shall be grbunds for an action
to recover sums due for damages or injunctive relief or both,
maintainable by the Board of Directors or the Managing Agent on
behalf of the Association of Owners, or in a proper case, by an
aggrieved owner.
35.5 If any of the provisions of this Declaration
or any paragraph, sentence, clause, phrase, or word, or the
application thereof in any circumstance be invalidated, such
invalidity shall not affect the validity of the remainder of the
Declaration, and the application of any such provision, para-
graph, sentence, clause, phrase or word in any other circum-
stances shall not be affected thereby.
35.6 This Declaration shall be construed and
controlled by and under the laws of the State of Colorado.
35.7 The provisions of this Declaration shall be
in addition to and supplemental to the Condominium Ownership Act
of the State of Colorado and to all other provisions of law.
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35.8 Whenever used herein, unless the context
shall otherwise provide, the singular number shall include the
plural, the plural the singular, and the use of any gender shall
include all genders.
35.9 The provisions of this Declaration shall be
liberally construed to effectuate its purpose.
35.10 Upon request the Association shall provide
to the City of Aspen, Colorado a written annual report of the
owners' personal use of all Condominium Units during the seasonal
period from December 18 through March 20.
DECLARANT:
By
HANS B. CANTRU
STATE OF COLORADO )
COUNTY OF PITKIN )
The foregoing instrument was acknowledged before me
this day of , 1981, by HANS B. CANTRUP.
WITNESS my hand and official seal.
My Address is:
My Commission expires:
Notary Public
APPROVAL BY CONSTRUCTION LENDER
APPROVAL of the foregoing Condominium Declaration for
Prospector Condominiums is -hereby acknowledged by the under-
signed, the issuer of a construction loan to the Declarant for
the Condominium Project.
INTRAWEST BANK
M
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9 •
STATE OF COLORADO
ss.
COUNTY OF )
The foregoing instrument was acknowledged before me
this day of 1980 by ,
President of Intrawest Bank.
WITNESS my hand and official seal.
My Address is:
My Commission expires:
Notary Public
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EXHIBIT "E"
ARTICLES OF INCORPORATION
OF
PROSPECTOR
CONDOMINIUM ASSOCIATION, INC.
The undersigned, acting as Incorporator of a corporation
under the Colorado Non -Profit Corporation Act, s -gr,s and ac);now-
ledges the following Articles of Incorporation 'or such oration, hereinafter hereinafter called the "Articles."
ARTICLE I
NAME
The name of the corporation shall he Prospector_ Condo
minium Association, Inc., hereinafter called the "Association".
ARTICLE II
PURPOSE
1. The purpose for which the Association is organized is.
to provide an entity pursuant to C.R.S. 1973, 38-33-101, et se-
as from time to time is amended, supplemented or succeeded, here-
after called the "Condominium Act," for the operation of Prospector.
Condominiums, a condominium project located on .property in Pitkin
County,Colorado.
2. The Association shall make no -distribution of income
to its members, directors or officers.
ARTICLE III
POWERS
1. The Association shall have all of the common law and
statutory powers of a non-profit corporation which are .not in
conflict with the terms of these Articles.
2. The Association shall have all of the powers and
duties set forth in the Condominium Act except as limited by these
Articles and the Condominium Declaration for Prospector
Condominiums, hereinafter called the "Declaration" and all. the
powers and duties reasonably necessary to operate the Association
as set forth in the Declaration and as it may be amended from time
to time, including but not limited to the following-
2.1' To make and collect assessments against members
of the corporation to defray the costs, expenses and losses of the
corporation.
2.2 To use the proceeds of assessments in the
exercise of its powers and duties.'
• •
2.3 To maintain, repair, replace, and operate the
condominium property.
2.4 To purchase insurance upon the condominium
property and to provide protection for the Association and its
members as provided by the Declaration,.
2.5 To reconstruct improvements after casualty and
to further improve the property.
2.6 To enforce by legal means the provisions of t:))(,
Condominium Act, the Declaration, these Articles, the By -Laws of
the Association, and the rules and regulations for the use of i:))(,
condominium property.
2.7 To contract for the management of the condo-
minium property and to delegate to such manager all powers and
duties of the Association except as such are specially required by
the Declaration to have approval of the Board of Directors or the
membership of the Association.
2.8 To contract for the management or operation of
portions of the common elements susceptible to separate management
or operation and to lease such portions,
2.9. To employ personnel to perform the services
required for proper operation of the corporation.
2.10 To engage in activities which may now or
hereafter be allowed or permitted by law to actively foster,
promote and advance the common interests of the condominium unit
owners.
3. All funds and the titles of all properties acquired
by the Association and the proceeds thereof shall be held in trust
for the members of the Association in accordance with the
provisions of the Declaration, these Articles, and the By --Laws of
the Association.
4. The powers of the Association shall be subject: to and
shall be exercised in accordance with the provisions of the
Declaration and the By -Laws of the Association,
ARTICLE VI
MEMBERS
1. This corporation shall be a membership corporation
without certificates or shares of stock,
2. The members of the Association shall consist solely
of all record owners of condominium units of the Prospector
Condominiums.
RL
3. Change of membership of the Association shall be
effected and established by the recording in the public records of:
Pitkin County, Colorado, of a deed or other instrument establishing
a change in record title to a condominium unit and the del.ivccry to
the Association of a certified or machine copy of such instrument.
The membership of the prior owner shall thereby be terminated,
4. The share of a member in the funds and assets of the
Association cannot be assigned, hypothecated, or transferred 5.n any
manner except as an appurtenance to his condominium unit,
5. The members of the Association shall be entitled to
vote for each condominium unit owned by them. The exact number of:
votes to be cast by owners of a condominium unit and the manner of
exercising voters' rights shall be determined by the By --Laws of. the
Association and the Declaration.
ARTICLE V
BOARD OF DIRECTORS
1. The affairs of the Association will be managed by a
Board consisting of the number of Directors as shall be determined
by the By -Laws, but not less than three (3) nor more than seven (7)
Directors, and in the absence of such determination shall consist
of three (3) Directors.
2. Directors of the Association shall be elected at the
annual meeting of the members in the manner determined by the
By -Laws. Directors may be removed and vacancies on the Board of
Directors shall be filled in the manner provided by the By -Laws.
3. The Directors herein named shall serve until the
first election of Directors, and any vacancies in their number
occurring before the first election shall be filled by the
remaining Directors.
4. The names and addresses of the members -of the first
Board of Directors who shall hold office until their successors are
elected and have qualified, or until removed are as follows:
Richard Wilhelm, 602 S. Mill, Aspen, Co. 81611
Hans B. Cantrup, Box 388, Aspen, Co. 81611
Spencer F. Schiffer, 601 E. Hyman Avenue, Aspen, Co.
81611
ARTICLE VI
OFFICERS
The affairs of the Association shall be administered by
officers elected by the Board of Directors at its first meeting
following the annual meeting of the members of the Association,
which officers shall serve at the pleasure of the Board of
Directors. The names and addresses of the officers who shall serve
until their successors are designated by the Board of Directors are
as follows;
Richard Wilhelm President -Treasurer
Hans B. Cantrup Vice President -Secretary
ARTICLE VII
REGISTERED OFFICE AND REGISTE'PED AGENT
1. The Association shall have and continuously maintain
in Colorado a registered office which may be the same as its
principal office and a registered agent whose business office is
identical with such registered office.
2. The initial registered office of the Association
shall be located at 602 S. Mill Street, Aspen, located in Pitkin
County, Colorado: The initial registered agent of the Association,
whose business office is identical with such registered office, is
Richard Wilhelm. The initial mailing address of the Association
shall be Box 388, Aspen, Colorado 81612,
ARTICLE VIII
INDEMNIFICATION
Every manager and every officer of -the Association shall
be indemnified by the Association against all claims, liabilities,
judgments, the costs of defense, including counsel fees, reasonably
incurred or imposed upon him in connection with any proceeding, or
any settlement thereof, to which me may be a party, or in which me
may become involved, by reason of his being or having been a
manager or officer at the time the event giving rise to such claims
or liability occurred, except in such cases wherein the manager or
officer is adjudged guilty of willful misfeasance or malfeasance in
the performance of his duties, provided that in the event of a
settlement the indemnification herein shall apply only when the
Board of Directors approves such settlement and reimbursement as
being for the best interests of the Association. The foregoing
right of indemnification shall be in addition to and not exclusive
of all other rights to which such manager or officer may be
entitled.
ARTICLE IX
BY-LAWS
The first By -Laws of the Association shall be adopted by
the Board of Directors, and may be altered, amended or revoked in
the manner provided by the By -Laws.
9 . ARTICLE X •
AMENDMENTS
Amendments to the Articles of. Incorporation sha).]. be
proposed and adopted in the following manner_:
1. Notice of the subject matter of a proposed amendment:
shall be included in the notice of any meeting at -which. a proposed
amendment is considered.
2. A resolution approving a proposed amendment may ))e
proposed by either the Board of Directors or by the mer•.bers of Vhe
Association.
3. Approval of an amendment must be by not less than
seventy percent (70%) of the votes of the entire membership of the
Association and by not less than two-thirds (2/3) of the entire
membership of the Board of Directors, or by not less than eighty
percent (800) of the votes of the entire membership of the
Association.
4. A copy of each amendment shall be certified by the
Secretary of State and recorded in the records of Pitkin County,
Colorado.
ARTICLE XI
TERM
"The term of the Association shall be perpetual unless
the Association is terminated sooner by the unanimous action of its
members. The Association shall be terminated by the revocation of
the Condominium Declaration in accordance with the provisions
thereof."
ARTICLE XII
In the event any provision of these Articles of
Incorporation or the By -Laws of the Association shall be
inconsistent with the provisions of the Condominium Declaration for
Prospector Condominiums or any amendment or supplement thereto, the
provisions of the Condominium Declaration shall govern.
ARTICLE XIII
INCORPORATOR
The name and address of the incorporator of these
Articles of Incorporation is: Spencer F. Schiffer, Garfield &
Hecht, 601 East Hyman Avenue, Aspen, Colorado 81611.
. IN WITNESS WHEREOF, the incorpora or has hereunto affixed
his signature on this day of , 1982.
SPENCER F. SCHIFFER
STATE OF COLORADO )
) ss.
COUNTY OF PITKIN )
I, , a Notary Public in and for said
County, in the State aforesaid, do hr-,reby cei-l.ify that Spencer. P,
Schiffer, whose name is subscribed and annexed t.o the foregoing
Articles of Incorporation, appeared before we this day in person
and acknowledged that he signed, sealed and delivered the said
instrument in writing as.his free and voluntary act, for the use
and purposes therein set forth.
WITNESS my hand and official seal.
My Commission expires:
My Address is:
Notary Public
EXHIBIT "F"
41 0
BY-LAWS
OF
PROSPECTOR COND01-1INIUN ASSOCIATION, INC.
ARTICLE I
Offices
1. Business Offices. The corporation. may have _once or
more offices at such place or places within or without the State
of Colorado as the Board of Directors may fror. time to time
I
etermine or as the business of the corporation may require.
2. Registered Office. The registered office of the
corporation shall be as set forth in the Articles of
Incorporation, unless changed in accordance with the Colorado
Corporation Code.
ARTICLE II
Shareholders' Meetings
1. Annual Meetings. The annual meetings of the
shareholders for the election of directors to succeed those
whose terms expire and for the transaction of such other
business as may come before the meeting shall be held in each
year on the _ local time at
the place.of the meeting. If the day so fixed ^for such annual
meeting shall be a legal holiday at the place of the meeting,
then such meeting shall be held on the next succeeding business
day at the same hour.
2. Special Meetings. Special meetings of the
shareholders, for any purpose or purposes, unless otherwise
prescribed by statute or by the Articles of Incorporation, may
be called at any time by the President or Secretary upon the
request (which shall state the purpose or purposes therefor) of
a majority of the Board of Directors or of the holders of not
less than ten percent (10%) of the number of shares of
outstanding stock of the corporation entitled to vote at the
meeting. Business transacted at any special meeting of
shareholders shall be limited to the purpose or purposes stated
in the notice.
3. Place of Meeting. Meetings of shareholders shall
be held at such place or places, within or without the State of
Colorado, as may be designated from time to time by the Board of
Directors.
4. Notice of Meetings. Except as otherwise provided
by statute, notice of each meeting of shareholders, whether
annual or special, shall be given not less than ten (10) nor
more than fifty (50) days prior thereto to each shareholder
entitled to vote thereat by delivering written or printed notice
thereof to such shareholder personally or by depositing the same
in the United States mail, postage prepaid, directed to the
shareholder personally or by depositing the same in the United
States mail, postage prepaid, directed to the shareholder at his
address as it appears on the stock transfer books of the
corporation; provided, however, that if the authorized shares of
the corporation are proposed to be increased, at least thirty
(30) days' notice in like manner shall be giver, The notice of
all meetings shall state the place, day and hour thereof. The
notice of a special meeting shall, in addition, state the
purposes therefor.
5. Voting List. At least ten (10) days before every
meeting of shareholders, a complete list of shareholders
entitled to vote thereat or any adjournment thereof, arranged in
alphabetical order, showing the address of each shareholder_ and.
the number of shares registered in the name of each, shall be
prepared by the officer or agent of the corporation who has
charge of the stock transfer books of the corporation. Such
list shall be open at the principal office of the corporation to
the inspection of any shareholder during usual business hours
for a period of at least ten (10) days prior to -such meeting.
Such list shall also be produced and kept at the time and place
of the meeting during the whole time thereof and subject to the
inspection of any shareholder who may be present.
. 6. Organization. The President or Vice President
shall call meetings of the shareholders to order and act as
chairman of such meetings. In the absence of said officers, any
shareholder entitled to vote thereat, or any proxy of any such
shareholder, may call the meeting to order and a. chairman shall
be elected by a majority of the shareholders entitled to vote
thereat. In the absence of the Secretary and assistant
Secretary of the corporation, any person appointed by the
chairman shall act as secretary of such meetings.
7. Agenda and Procedure. The Board of Directors
shall have the responsibility of establishing an agenda for each
meeting of shareholders, subject to the rights of shareholders
to raise matters for consideration which may otherwise properly
be brought before the meeting although not included within the
agenda. The chairman shall be charged with the orderly conduct
of all meetings of shareholders; provided, however, that in the
event of any difference in opinion with respect to the proper
course of action which cannot be resolved by reference to
statute, the Articles of Incorporation or these By -Laws,
Robert's Rules of Order (as last revised) shall govern the
disposition of the matter.
8. Quorum. The holders of a majority of the shares
issued and outstanding and entitled to vote thereat shall when
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0
present in person or represented by proxy be requisite to and
shall constitute a quorum at all meetings of shareho M ers for
the transaction of business except as otherwise provided by
statute, by the Articles of Incorporation, or by these By -Laws.
In the absence of a quorum at any such meeting, a majority of
the shareholders present in person or r_epresenLec' !:-y proxy and
entitled to vote thereat may adjourn the meeting from t:irr.e to
time for a period not to exceed sixty (60) days at any one
adjournment without further notice (except as provi.ci4d in
paragraph 9 of this Article II) until a quorum shall he present
or represented.
9. Adjournment. When a meeting is for any reason
adjourned to another time or place, notice need not be given of
the adjourned meeting if the time and place thereof are
announced at the meeting at which the adjournment is ta);en. At
the adjourned meeting any business may be transacted %-:hich might
have been transacted at the original meeting,
10. Inspectors. The Chairman of the meeting may at
any time appoint two (2) or more inspectors to serve at a
meeting of the shareholders. Such inspectors shall decide upon
the qualifications of voters, including the validity of proxies,
accept and count the votes for and against the questions
presented, report the results of such votes, and subscribe and
deliver to the secretary of the meeting a certificate stating
the number of shares of stock issued and outstanding and
entitled to vote thereon and the number o` shares voted for and
against the questions presented. The inspectors need not be
shareholders of the corporation, and any director or officer of
the corporation may be an inspector on any question other than a
vote for or on any other questions in which he may be directly
interest.
11. Voting.
(a) Each Shareholder shall at every meeting of
the shareholders, or with respect to corporate action which may
be taken without a meeting, be entitled to one vote for each
share of stock having voting power held of record by such
shareholder on the record date designated therefor pursuant to
paragraph 3 of Article XI of these By -Laws (or the record dates
established pursuant to statute in the absence of such
designation); provided that the cumulative system of voting for
the election of directors or for any other purpose shall be
allowed.
(b) Each shareholder so entitled to vote at a
meeting of shareholders, or to express consent or dissent to
corporate action in writing without a meeting, may vote or
express such consent or dissent in person or may authorize
another person or persons to vote or act for him by proxy
executed in writing by such shareholder (or by his duly
authorized attorney in fact) and delivered to the secretary of
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the meeting, or, if there is no meeting, to the Secretary of the
corporation; provided that no such proxy shall be voted or acted
upon after eleven (11) months from the date of: its execution,
unless such proxy expressly provides for a longer period.
(c) The voting rights of fiduciaries,
beneficiaries, pledgors, pledgees, and joint, coriomon, and other
multiple owners of shares of stock shall be as provided from
time to time by law, including in particular. C.R.,, 3973,
Section 7-4-116.
(d) When a quorum is present at any meeting of
shareholders, the vote of the holders of a majority of the
shares of stock having voting power present in person or _
represented by proxy shall decide any question brought before
such meeting, unless the question is one upon which by express
provision of a statute, or the Articles of Incorporation, or
these By -Laws, a different vote is required, in which case such
express provision shall govern and control- the decision on such
question.
ARTICLE III
Board of Directors
1. Election -and Tenure_. The business and affairs of
the corporation shall be managed by a Board of Directors who
shall be elected at the annual meetings of shareholders by a
majority vote. Each director shall be elected to serve and to
hold office until the next succeeding annual meeting and until
his.successor shall be elected and.shall qualify, or until his
earlier death, resignation, or removal.
2. Number and Qualification. The number of Directors
of this Corporation shall be not less than three (3), provided
however, in the event there are fewer than three (3)
stockholders the number of Directors shall be the same number as
there are stockholders. Directors need not be shareholders or
residents of the State of Colorado.
3. Organization Meetings. As soon as practicable
after each annual election of directors, the Board of Directors
shall meet for the purpose of organization, selection of a
Chairman of the Board, election of officers and the transaction
of any other business.
4. Regular Meetings. Regular meetings of the Board
of Directors shall be held at such time or times -as may be
determined by the Board of Directors and specified in the notice
of such meeting.
5. Special Meetings. Special meetings of the Board
of Directors may be called by the Chairman of the Board or the
President or shall be called by the President or Secretary on
.the written request of any two (2) directors.
-4-
6. face of bteetin s. Any mee'�ing o` the Pcard of
Directors may be held at such place or place5 either wiLthin or
without the State of Colorado as shall from time to t ; me bee,
determined by the Board of Directors or fi>.ed by the Chairman of
the Board and as shall be designated ir..the notice cf: the
meeting.
7. notice of Meetings. Notice of each r.E_e::-r.g of
directors, whether organizational, regular or special, sl;all. be
given to each director. If such notice is given either (a) by
delivering written or printed notice to a director personally or.
(b) by telephone personally to such director, it shall be -so
given at least two (2) days prior to the r,,eeting, 1-f suc)"
notice is given either (a) by depositing a written or printed
notice in the United States mail, postage prepaid, or (b) by
transmitting at his residence or place of bus-iness, it shall be
so given at least four (4) days prior to the meeting, The
notice of all meetings shall state the place, date and hour
thereof, but need not, unless otherwise required by statute,
state the purpose or purposes thereof.
8. Quorum. A majority of the number of directors
fixed by paragraph 2 of this Article III shall constitute a
quorum at all meetings of the Board of Directors, and the vote
of a majority of the directors present at a meeting at which a
quorum is present shall be the act of the Board of Directors.
In the absence of a quorum at any such r.eeting, a majority of
the directors present may adjourn the meeting from time to time
without further notice, other than announcement at th-e meeting,
until a quorum shall be present.
9. Organization, Agendas and Procedure. The Chairman
of the Board, or in his absence, any director chosen by a
majority of the directors present, shall act as chairman of the
meetings of the Board of Directors. In the absence of the
Secretary and Assistant Secretary, any person appointed by the
chairman shall act as secretary of such meetings. The agenda of
and procedure for such meetings shall be determined bar the Board
of Directors.
10. Resignation. Any director of the corporation may
resign at any time by giving written notice of his resignation
to the Board of Directors, to the Chairman of the Board, the
President, any Vice President or Secretary of the corporation.
Such resignation shall take effect at the crate of receipt of
such notice or at any later time specified therein and, unless
otherwise specified therein, the acceptance of such resignation
shall not be necessary to make it effective.
11. Removal. Except as otherwise provided in the
Articles of Incorporation or in these By -Laws, any director may
be removed, either with or without, cause, at any time, by the
affirmative vote of the holders of a majority of the issued and
outstanding shares of stock entitled to vote for the election of
-5-
directors of 0 corporation
shareholders called and held
the Board of Directors caused
filled, if the shareholders a
such vacancy, by the Board of
12 of this Article III.
given at a Wcial r:eeting of the
for such purpose. The vacancy in
by any such removal shall be
t such meeting shall_ fail to fill
Directors as provided in paragraph
12. Vacancies. Except as provided in paragraph 11 of
this Article III, any vacancy occurring for any reason in the
Board of Directors may be filled by the affirmative vote of a
majority of the directors then in office, though less than a
quorum of the Board of Directors. Any directorship to be filled
by the affirmative vote of a majority of the directors then in
office shall be by an election held at an ai-,nual meeting or at a
special meeting of directors called for that purpose. A
director elected to fill a vacancy shall be elected for the
unexpired term of his predecessor in office and shall hold
office until the expiration of such term and until his successor
shall be elected and shall qualify or until his earlier death,
resignation or removal. A director_ chosen to fill a position
resulting from an increase in the number of directors shall hold
office until the next annual meeting of shareholders and until
his successor shall be elected and shall qualify, or until his
earlier death, resignation or removal.
13. Executive Committee. The Board of Directors, by
resolution adopted by a majority of the number of directors
fixed by paragraph 2 of. this Article III, may 'designate two (2)
or more directors to constitute an executive. coin ittee, . �.;hich
committee, to the extent provided in such resolution, shall have
and may exercise all of the authority of the Board of Directors
in the management of the corporation.
14. Compensation_ of Directors. Each director may be
allowed such amount per annum or such fixed sum nor attendance
at each meeting of the Board of Directors or any meeting of an
executive committee, or both, as may be from time to time fixed
by resolution of the Board of Directors, together with
reimbursement for the reasonable and necessary expenses incurred
by such director in connection with the performance of his
duties. Nothing herein contained shall be construed to preclude
any director from serving the corporation or any of its
subsidiaries in any other capacity and receiving proper
compensation therefor.
ARTICLE IV
Waiver of Notice and Action by Consent
1. Waiver of Notice. Whenever any notice whatever is
required to be given under the provisions of a statute or of the
Articles of Incorporation, or by these By -Laws, a waiver thereof
either in writing signed by the person entitled to said notice
(or such person's agent or attorney in fact thereur.te
-6-
authorized) or telegraph, cable or any other availab?c
method, whether before, at or after the time stated therein, or
the appearance of such person or persons at such mcceting in
person of by proxy (except for the sole purpose oL challenging
the propriety of the meeting), shall be.deemedecuivatent to
such notice.
2. Action Without a Meeting. Any action recuired or
which may be taken at a meeting of the directors, shareholders
or members of any executive committee of the corporation, may be
taken without a meeting if a consent in writing, forth
the action so taken, shall be signed by all of the Oirectors,
shareholders, or members of the executive corjJ.ittee, as- the case
may be, entitled to vote with respect to the subject ratter
thereof.
ARTTME V
Officers
1. Election and Tenure. The Board of Directors
annually shall elect a President, a Secretary, and a Treasurer.
The Board of Directors may also elect or appoint such Vice
Presidents, other officers and assistant officers as may be
determined by the Board of Directors. The Board of Directors
may delegate to any such officer the power to appoint or remove
subordinate officers, agents or employees. Any two or more
offices may be held by the same person, except the offices of
President and Secretary. Each officer so elected or appointed
shall continue in office until his successor shall be elected or
appointed and shall qualify, or until his earlier death,
resignation or removal.
2. Resignation, Removal and Vacancies. Any officer
may resign at any time by giving written notice thereof to the
Board of Directors or to the President. Such resignation shall
take effect on the date specified therein and no acceptance of
the same shall be necessary to render the same effective. Any
officer may at any time be removed by the affirmative vote of a
majority of the number of directors specified in paragraph 2 of
Article III of these By -Laws, or by an executive committee
thereunto duly authorized.' If any office becomes vacant for any
reason, the vacancy may be filled by the Board of Directors. An
officer appointed to fill a vacancy shall be appointed for the
unexpired term of his predecessor in office and shall continue
in office until his successor shall be elected or appointed and
shall qualify, or until his earlier death, resignation or
removal.
3. President. The President shall be the chief
executive officer of the corporation. He shall preside at all
meetings of the shareholders and shall have general and active
management of the business of the' corporation. He shall see
that all orders and resolutions of the Board of Directors are
-7-
carried into effect and in general shall perform all duties as
may from time to time 'be assigned to him by the Board of
Directors.
4. Vice President. The Vice,Presidents shall perform
such duties and possess such powers as fro,rit tivie to time may be
assigned to them by the Board of Directors or by the President.
In the absence of the President or in the event of his inability
or refusal to act, the vice president (or ir, the event there be
more than one vice president, the vice presidents in the order
designated, or in the absence of any designation, then in the
order of their election or appointment) shall perform the duties
of the President and when so performing shall have all the
powers of and be subject to all the restrictions upon the
President.
5. Secretary. The Secretary shall perform such
duties and shall have such powers as may from time to time be
assigned to him by the Board of Directors or the President. In
addition, the Secretary shall perform such duties and have such
powers as are incident to the office of Secretary, including
without limitation the duty and power to give notice of all
meetings of shareholders and the Board of Directors, to attend
such meetings and keep a record of the proceedings, and to be
custodian of corporate records and the corporate seal and to
affix and attest to the same on documents, the execution of
which on behalf of the corporation is authorized by these
By -Laws or by the action of the Board of Directors.
6. Treasurer.. The Treasurer shall perform such
duties and shall have such powers as may from tire to time be
assigned to him by the Board of Directors or the President. In
addition, the Treasurer shall perform such duties and have such
powers as are incident to the office of Treasurer, including
without limation the duty and power to keep and be responsible
for all funds and securities of the corporation, to deposit
funds of the corporation in depositories selected in accordance
with these By -Laws, disburse such funds as ordered by the Board
of Directors, making proper accounts thereof, and shall render
as required by the Board of Directors statements of all such
transactions as Treasurer and of the financial condition of the
corporation.
7. Assistant Secretaries. The Assistant Secretaries
shall perform duties and possess such powers as from time to
time shall be assigned to them by the Board of Directors, the
President, or the Secretary. In the absence, inability or
refusal to act of the Secretary, the Assistant Secretaries in
the order determined by the Board of Directors shall perform the
duties and exercise the powers of the Secretary.
8. Assistant Treasurers. The Assistant Treasurers
shall perform such duties and possess such powers as from tin-te
to time shall be assigned to them by the Board of Directors, the
-8-
LJ
President, or the Treasurer. In the absence, inability or
refusal to act of the Treasurer, the Assistant Treasurers iti
order determined by the Board of Directors shall perfcrm the
duties and exercise the powers of the Treasurer.
9. Bond of Officers. The Board of Directcrs may
require any officer to give the corporation a bored in such �;.R1
and with such surety or sureties as shall be satisfactory to the
Board of Directors for such terms and conditions as the Board of
Directors may specify, including without limitation =or the
faithful performance of his dutaes and for the restoration to
the corporation of all_ property .-in his possession 6r urger his
control belonging to the corporation.
10. Salaries. Officers of the corporation shall h<,
entitled to such salaries, emoluments, compensation or
reimbursement as shall be fixed or allowed from tirr;e to time by
the Board of Directors.
ARTICLE VI
Indemnification
1. Third Party Actions. The corporation shall
indemnify any person who was or is a party or is threatened to
be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal., administrative, or
investigative (other than an action by or in the right.of the
corporation), by reason of the fact that he is or was a
director, officer, employee or agent of the corporation or is or
was serving at the request of the -corporation as a director,
officer, employee or agent of another corporation, partnership,
joint venture, trust, or other enterprise, against expenses
(including attorney fees), judgments, fines, and amounts paid in
settlement actually and reasonably incurred by him in connection
with such action, suit or proceeding if he acted in good faith
and in a manner he reasonably believed to be in the best
interests of the corporation and, with respect to.any criminal
action or proceeding, had no reasonable cause to believe his
conduct was unlawful. The termination of any action, suit, or
proceeding by judgment, order, settlement, conviction, or upon a
plea of nolo contendere or its equivalent shall not of itself
create a presumption that the person did not act in good faith
and in a manner which he reasonably believed to be in the best
interests of the corporation and, with respect to any criminal
action or proceeding, had reasonable cause to believe that his
conduct was unlawful.
2. Derivative Actions. The corporation shall
indemnify any person who was or is a party or is threatened to
be made a party to any threatened, pending, or completed action
or suit by or in the right of the -corporation. to procure a
judgment in its favor by reason of the fact that he is or was a
director, officer, employee, or agent of the corporation or is
._9_
or was serving at the request of the corporation as a director,
officer, employee, or agent of another_ cor_porat-ion, partnership,
joint venture, trust, or other enterprise against expenses
(including attorney fees) actually and reasonably incurred by
him in connection with the defense or settlement of such action
or suit if he acted in good faith and in a iran ner he reasonably
believed to be in the best interests of the corporation; but no
indemnification shall be made in respect of any claim, issue, or
matter as to which such person has been adjudged to be liable
for negligence or misconduct in the perforr.ance of hi.s duty to
the corporation unless and only to the extent that the court in
which such action or suit was brought determines upon
application that, despite the adjudication, of liability, but in
view of all circumstances of the case, such person is fairly and
reasonably entitled to indemnification for such expenses which
such court deems proper.
3. Extent of Indemnification. To the extent: that a
director, officer, employee, or agent^of_ the corporation has
been successful on the merits in .defense of any action, suit, or
proceeding referred to in paragraphs 1 and 2 of this Article VI,
or in defense of any claim, issue, or matter_ therein, he shall
be indemnified against expenses (including attorney fees)
actually and reasonably incurred by him in connection therewith.
4. Determination. Any indemnification under
paragraphs 1 and 2 of this Article VI (unless ordered by a
court)•shall be made by the corporation only as authorized in
the specific case upon a determination that -indemnification of
the director, officer, employee, or -agent is proper in the
circumstances because he has met the applicable standard of
conduct set forth in paragraphs l and 2 of this Article VI.
Such determination shall be made (a) by the Board of Director
by a majority vote of a quorum consisting of directors who were
not parties to such an action, suit or proceeding, or if such a
quorum is not obtainable, or, even if obtainable, a quorum of
disinterested directors so directs, by independent legal counsel
in a written opinion, or (b) by the affirmative vote of the
holders of a majority of the shares of stoc'., entitled to vote
and represented at a meeting called for such purpose.
5. Payment in Advance. Expenses incurred in
defending a civil or criminal action, suit, or proceeding may be
paid by the corporation in advance of the final disposition of
such action, suit, or proceeding as authorized in paragraph A, of
this Article VI upon receipt of an undertaking by or on behalf
of the director, officer, employee, or agent to repay such
amount unless it is ultimately determined that he is entitled to
be indemnified by the corporation as authorized in this Article
VI.
6. Insurance. The Board of Directors may exercise
the corporation's power to purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee
-10-
or agent of ttcorporation or who is oroas servinc; at the
request of the corporation as a director, officer, er;.ployee, or
agent of another corporation, partnership, joint venture, trust,
or other enterprise against any liability asserted against him..
and incurred by him in any such capacity or arisi;:g cut cA' his
status as such, whether or not the corporation would have the
power to indemnify him against such liability rereurcer or
otherwise.
7. Other Coverage. The indemnification provi(3ed by
this Article VI shall not be deemed exclusive of any ether
rights to which those seeking indemnification rr,ay be entitled
under the Articles of Incorporation, these By-La�:s, agreem..ent,
vote of shareholders or disinterested directors, the Colorado
Corporation Code, or otherwise, both as to action in his
official capacity and as to action in another_ capacity while
holding such office, and shall continue as to a person who has
ceased to be a director, officer, employee or agent and shall
inure to the benefit of the heirs and personal representatives
of such a person.
ARTICLE VII
Execution of Instruments; Loans; _Checks
and Endorsements;. Deposits; Proxies
1. Execution of Instruments. The President or any
Vice President shall have power to execute and deliver on behalf:
and in the name of the corporation any instrument recuiring the
signature of an officer of the corporation, except as otherwise
provided in these By -Laws or where.the execution and delivery
thereof shall be expressly delegated by the Board of Directors
to some other officer or agent of the corporation. unless
authorized to do so by these By -Laws or by the Board of
Directors, no officer, agent or employee shall have any power or
authority to bind the corporation in any way, to pledge its
credit or to render it liable pecuniarily for any purpose or in
any amount.
2. Loans. No loan shall be contracted on behalf of
the corporation, and no evidence of indebtedness shall be
issued, endorsed or accepted in its name, unless authorized by
the Board of Directors so to act. Such authority may be general
or confined to specific instances. When so authorized, the
officer or officers thereunto authorized may effect loans at any
time for the corporation from any bank or other entity and for
such loans may execute and deliver promissory notes or other
evidences of indebtedness of the corporation., and when
authorized as aforesaid, as security for the payment of any and
all loans (and any obligations incident thereto) of the
corporation, may mortgage, pledge, or otherwise encumber any
real or personal property, or any interest therein, at any time
owned or held by the corporation, 'and to that end may execute
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and deliver such instruments as may be necessary or proper in
the premises.
3. Checks and Endorsements. All checks, drafts or
other orders for the payment of money, bbliiations, notes or
other evidences of indebtedness, bills'of_ Jading, warehouse
receipts, trade acceptances, and other such instruments shall be
signed or endorsed by such officers or agent of the corporation
as shall from time to time be determined by resolution of the
Board of Directors, which resolutions may provide for the use of
facsimile signatures.
4. Deposits. All funds of the corporation not
otherwise employed shall be deposited from time to time to the
corporation's -credit in such banks or other depositories as
shall from time to time be determined by resolution of the Board
of Directors, which resolution may specify the officers or
agents of the corporation who shall have the power, and the
manner in which such power shall be exercised, to mare such
deposits and to endorse, assign and deliver for collection and
deposit checks, drafts and other orders for the payment of money
payable to the corporation or its order.
5. Proxies. Unless otherwise provided by resolution
adopted by the Board of Directors, the President or any Vice
President may from time to time appoint one or'Ti.ore agents or
attorneys in fact of the corporation, in the name and on behalf
of the corporation, to cast the votes which the corporation may
be entitled to cast as the holder of stock or other securities
in any other corporation, association or other entity any of
which stock or other securities may be held by the corporation,
at meetings of the holders of the stock or other securities of
such other corporation, association or other entity, or to
consent in writing, in the name of the corporation as such
holder, to any action by such other corporation, association or
other entity, and may instruct the person or persons so
appointed as to the manner of casting such votes or giving name
and on behalf of the corporation and under its corporate seal,
or otherwise, all such written proxies or other instruments as
he may deem necessary or proper in the premises.
ARTICLE VIII
Shares of Stock
1. Certificates of Stock. Every
the corporation shall be entitled to have a
certifying the number of shares owned by him
and designating the class of stock to which
which shall otherwise be in such form as is
as the Board of Directors shall prescribe.
certificate shall be signed by the President
and the Treasurer or any Assistant Treasurer
any Assistant Secretary of the corporation;
holder of stock of
certificate
in the corporation
such shares belong,
required by law and
Each such
or a Vice President
or the Secretary or
provided, however,
-12-
that where such certificate is signet; or countersigned by a
transfer agent or registrar (other than the corporation or any
employee of the corporation) the signatures of such officers of
the corporation may be in facsimile form.. In case any o "icer
of the corporation who shall have signed, or whose facsimile
signature shall have been placed on, any certificate shall cease
for any reason to be such officer before such certificate shall
have been issued or delivered by the corpora tlion, such
certificate may nevertheless be issued and delivered by the
corporation as though the person signed such certificate, or
whose facsimile signature shall have been placed thereon, had
not ceased to be such officer of the corporation.
2. Record. A record shall be kept of the name of
each person or other entity holding the stock, represented by
each certificate for shares of the corporation issued, the
number of shares represented by each such certificate, and the
date thereof and, in the case of cancellation, the date of
cancellation. The person or other entity in whose nar„es shares
of stock stand on the books of the corporation shall be deemed
the owner thereof, and thus a holder of record of such shares of
stock, for all purposes as regards the corporation.
3. Transfer of Stock_. Transfers of shares of the
stock of the corporation shall' be made only on the books of the
corporation by the registered holder thereof, or by his attorney
thereunto authorized, and on the surrender of the certificate or
certificates for such shares properly endorsed.
4. Transfer Agents and Registrars; Regulations. The
Board of Directors may appoint one or more transfer agents or
registrars with respect to shares of the stock of the
corporation. The Board of Directors may make such rules and
regulations as it may deem expedient, not inconsistent with
these By -Laws, concerning the issue, transfer, and registration
of certificates for shares of the stock of the corporation.
5. Lost, Destroyed, or _Mutilated _Certif_icates. In
case of the alleged loss, destruction, or mutilation of a
certificate representing stock of the corporation, a new
certificate may be issued in place thereof, in such manner and
upon such terms and conditions as the Board of Directors may
prescribe, and shall be issued in such situations as required by
law, including C.R.S. 1973, Section 4-8-405.
ARTICLE IX
Corporate Seal
1. Corporate Seal. The corporate seal shall be in
such form as shall be approved by resolution of the Board of
Directors. Said seal may be used by causing it or a facsimile
thereof to be impressed or affixed or in any other manner
reproduced. The impression of the seal may be made and attested
-13-
by either the retary or an Assistant retar_y for the
authentication f contracts or other pape requiring the seal.
ARTICLE X
Fiscal Year
1. Fiscal Year. The fiscal'year_ of the corporation
shall be such year as shall be e,s;tablished ley the Board of
Directors.
ARTICLE XI
Corporate Books and Records
1. Corporate Books. The books and records of the
corporation may be kept within or without the State of Colorado
at such place or places as may be from time to time designated
by the Board of Directors.
2. Addresses of Shareholders. Each shareholder shall
furnish to the Secretary of the corporation or the corporation's
transfer agent an address to which notices from. the corporation,
including notices of meetings, may be directed and if any
shareholder shall fail so to designate such an address, it shall
be sufficient for any such notice to be directed to such
shareholder at his address last known to the Secretary or
transfer agent.
3. Fixing Record Date. The Board of Directors may
fix in advance a date as a record date for the determination of
the shareholders entitled to notice of or to vote at any meeting
of shareholders or any adjournment -thereof, or to express
consent (or dissent) to corporate action in writing without a
meeting, or entitled to receive payment of any dividend or other
distribution or allotment of rights in respect of any change,
conversion or exchange of stock, or for the purpose of any other
lawful action. Such record date shall not be more than fifty
(50) nor less than ten (10) days before the date of such
meeting, nor more than fifty (50) days prior to any other action
to which the same relates. Only such shareholders as shall be
shareholders of record on the date so fixed shall be so entitled
with respect to the matter to which the same relates. If the
Board of Directors shall not fix a record date as above
provided, and if the Board of Directors shall not for such
purpose close the stock transfer books as provided by statute,
then the record date shall be established by statute in such
cases made and provided.
4. Audits of Books and Accounts, The corporation's
books and accounts shall be audited at such times and by such
auditors as shall be specified and designated by resolution of
the Board of Directors.
-14-
i ARTICLE XII •
Emergency By -Laws
1. Emergency By -Laws. The Board of Directer.s may
adopt emergency By -Laws in accordance with and pursuant tc the
provisions therefor from time to time set forth in the Colorado
Corporation Code.
ARTICLE XIII
Amendments
1. Amendments. All By -Laws of the corporation :shall
be subject to alteration, amendment or repeal, and new By -Laws
may be added, by the affirmative vote of a majority of a quorum
of the members of the Board of Directors present, in person at
any regular or special meeting.
APPROVED AND ADOPTED, this day of ,
1982.
-15-
•
•
MEMORANDUM
TO; City Attorney
City Engineer
Building Department
PLANNER: Colette Penne
RE: Prospector Lodge Condominiumization - Subdivision Exception
DATE: January 24, 1983
Attached is the application for condominiumization of the Prospector Lodge.
Specifics of the condominiumization are set forth in the attached materials,
so please review and return your comments to the Planning Office no later
than February 10 so that we may prepare our memo to the Aspen P&Z in a
timely manner.
Thank you.
p.s. Site and floor plans to follow.
0
•
RONALD GARFIELD
ANDREW V. HECHT
SPENCER F. SCHIFFER
KATHERINE HENDRICKS
WILLIAM K. GUEST, P.C.
KIRK B. HOLLEYMAN, P.C.
GARN EL® & HECHT, P.G.
ATTORNEYS AT LAW
VICTORIAN SQUARE BUILDING
601 EAST HYMAN AVENUE
ASPEN, COLORADO 81611
December 28, 1982
Mr. Sunny Vann
Director of Planning
Aspen Planning Department
130 S. Galena Street
Aspen, Co. 81611
Re: Prospector Lodge Condominiumization
Dear Sunny:
TELEPHONE
(303) 925-1936
TELECOPIER
(303) 925-3008
CABLE ADDRESS
"GARHEC"
Enclosed please find an application for exception from
subdivision regulations for the condominiumization'of the
Prospector Lodge Condominiums together with the exhibits referred
to therein and an affidavit signed by the owner, Hans B. Cantrup.
I have also enclosed a check in the amount of $475 representing
the fee for the processing of this application.
Would you please schedule this for the n(2xt available
Planning & Zoning Commission agenda and let me have any questions
or comments the planning department might have prior to that
date.
Thanks for your continued cooperation.
Very truly yours,
GARFIELD & HECHT, P.C.
Spence F. Schiffer
SFS/pg
enclosures
cc: Mr. Hans B. Cantrup
RONALD GARFIELD
ANDREW V. HECHT
SPENCER F. SCHIFFER
KATHERINE HENDRICKS
WILLIAM K. GUEST, P.C.
KIRK B. HOLLEYMAN, P.C.
GARFIELD & HECHT, P.C.
ATTORNEYS AT LAW
VICTORIAN SQUARE BUILDING
601 EAST HYMAN AVENUE
ASPEN, COLORADO 81611
December 28, 1982
Mr. Sunny Vann
Director of Planning
Aspen Planning Department
130 S. Galena Street
Aspen, Co. 81611
Re: Prospector Lodge Condominiumization
Dear Sunny:
TELEPHONE
(303) 925-1936
TELECOPIER
(303) 925-3008
CABLE ADDRESS
"GARHEC"
Enclosed please find an application for exception from
subdivision regulations for the condominiumization of the
Prospector Lodge Condominiums together with the exhibits referred
to therein and an affidavit signed by the owner, Hans B. Cantrup.
I have also enclosed a check in the amount of $475 representing
the fee for the processing of this application.
Would you please schedule this for the next available
Planning & Zoning Commission agenda and let me have any questions
or comments the planning department might have prior to that
date.
Thanks for your continued cooperation.
Very truly yours,
GARFIELD & HECHT., P.C.
L,
Spencer F. Schiffe
SFS/pg
enclosures
cc: Mr. Hans B. Cantrup
•
CITY OF ASPEN
130 south galena street
aspen, Colorado 81611
303-925-2020
MEMORANDUM
DATE: January 27, 1983
TO: Colette Penne
FROM: Paul Taddune
RE: Prospector Lodge Condominiumization - Subdivision
Exception
This application should be considered in liqht of the
requirements of Section 20-23. Additionally, it is
common knowledge that the Prospector and other Cantrup
properties are in foreclosure. We should, therefore, be
assured that the ownership situation remains unchanged
at the time the application is considered for approval.
PJT/mc
APPLICATION FOR EXCEPTION FROM SUBDIVISION REGULATIONS
This application is submitted on behalf of Hans B.
Cantrup for an exception from the strict application of the
provisions of Chapter 20 of the Municipal Code for the purpose of
condominiumizing the real property and improvements located on
lots A, B, C and D, Block 82, City and Townsite of Aspen, Pitkin
County, Colorado, which real property and improvements are known
as the Prospector Lodge.
It is submitted that all of the requirements of Section
20-23 of the Code are or will be met in that:
1. The condominium units created shall remain in the
short-term rental market to be used as temporary accommodations
available to the general public. The condominium declaration
will contain the fourteen day restriction specified in Section
20-23 (1) .
2. Two (2) pillows of employee housing will be
provided which is that amount of employee housing that has been
provided for three (3) years previous to the time of
condominiumization.
3. The condominiumized lodge shall provide on site
management and maintenance and other tourist accommodation
services consistent in quality and quantity to those provided
during the high seasons for the three years previous to the time
of application when the property was operated as a lodge in
accordance with the affidavit submitted herewith. The lodge
shall provide or contract for on site management from 8:00 a.m.
to 8:00 p.m. seven days a week during the high season. It shall
provide or contract for on call services twenty-four hours a day,
maintenance of the grounds, common elements, and emergency unit
repair consistent with those provided for the three years
previous to the time of application when the property was
operated as a lodge in accordance with the affidavit submitted
herewith.
4. The condominium units shall remain available to the
general tourist market through the inclusion in a local
reservation system for rental of lodge units in the City of
Aspen.
5. The changes and alterations which have been made to
the common areas have not diminished the size or quality of those
areas but have improved them significantly.
6. The requirements set forth in Section 2-23(6)(b)
have been fulfilled in that funds previously expended by the
applicant have physically upgraded the lodge to a quality far
higher than previously existed such that it may continue to
accommodate its clientele in a manner consistent with or better
in quality than the accommodation provided previous to
condomin.iumization. That is, in addition to reconstructing the
entire lodge to create new first-class accommodations, the
following amenities will be provided which had not previously
been provided for guests:
a. Individual telephone service to each unit, two
remote control color T.V.'s in each unit, 16 on -site sub -grade
parking spaces, a sauna, Jacuzzi and whirlpool tub in each unit.
7. The following documents are submitted herewith
pursuant to Section 20-23(c):
a. Proof of ownership as indicated by the Title
Insurance Certificate (Letter) attached hereto as Exhibit A and
Warranty Deed attached hereto as Exhibit B.
b. Site Inventory for the property as set forth in the
condominium map attached hereto as Exhibit C.
C. Draft of proposed Condominium Declaration attached
hereto a-- Exhibit D, Articles of the Condominium Association
attached hereto as Exhibit E, and By -Laws attached hereto as
Exhibit F.
d. Affidavit of Services provided as is called for in
Section 20-23 (a) (3) .
e. Designation and description of employee unit.
f. Plan of improvements made to the property along
with the estimated cost therefor.
Dated December .I-_, 1982.
GARFIELD & HECHT
Attorneys for Applicant
HX,---
Cantru
By:
penr F. chi ffWr
0.
LJ
Affidavit
COUNTY OF PITKIN )
) SS
STATE OF COLORADO)
Hans B. Cantrup, being first duly sworn, and under
oath, states that with respect to the services provided by the
Prospector Lodge for its guests for the three (3) years previous
to the time of application for condominiumization:
1. Continental breakfasts had been provided for guests
during high seasons only.
2. There had been a front desk serving the guests.
3. No transportation had been provided for guests.
4. Check -in hours were previously 8:00 a.m. to 8:00
p.m. At the front desk there would be someone on call for early
or late check -ins.
5. The following amenities had been available for
guests:
a. A common dining room of approximately 274 square
feet was available for the service of continental breakfast only.
b. A bar was available for BYO service.
C. There was a common lobby/lounge/living room of
approximately 714 square feet.
d. There was a front desk -office of approximately 72
square feet.
e. There was one restroom in the lounge area.
f. There was approximately 57 square feet of ski
storage area;
g. There was a swimming pool;
h. There was a pay phone in the lobby but no telephone
service to the guest rooms;
i. Apres'-ski parties were organized during the
season.
6. There was an on -site manager from 7:00 a.m. to
11:00 a.m. and from 4:00 p.m. to 8:00 p.m. seven days a week and
on -call maintenance twenty-four hours a day.
Further the affiant sayeth not.
L
Ks- B. Cant up
Subscribed and sworn to before me thi--kDday
1983.
My commission expires:
My address is
Witness my hand and official seal.
Notary Public
K&E 19 1154 5-80 MC954.
NaTAIz.Y SEAL SUrvEYOI� SEAL
NORTH I L-JZ I
�/\LE Ve 11 - i,o1
OWNERS CERTIFICATE
I-IANC) 15 CFNiR.U►? A5 OWNER. OF LOTS A, 3G, F D, nI.00K 82, CITY AND TDWN` aE OF f5PEf-t, PITKIN COUNTY,
COLOK",00, HEZEBY CERTIEIEt) THAT TH'f> MAF' OF Tt-ilE Lt?LY� CONL�JMINIUM t-A BEEN
PKEi'A�-1 FL-4-LV�N7 TO THE f uKp�?- � 5T/A\TED IN -THE CONE`OMINIUM DECL^FATION F- K THE f' D5Pff-✓TO -
'_OIX--f-E CONMMINIUM 12ATE-0 , AND RtSOKVF-P IN 1-� f'T FACE. OF- THE
'ZnLOKD5 Cr PITKIN CCUf TY, C-OLOKAVO,
11AN5 15--C^NTIKUf
STATE OF COLOKADD )
�,7UN7Y OF PITKIN ) 55.
-fNE FO FL )NG OWNFKS C_ RTIFIGAIE W/CD AC:K'-[CWLErz:d D f3ECjE i Tl41J
EtiY HEWS � CA)`ITRUP.
WITNE55 MY H^W! /N-V CFFICIAL t)5,\-; NY C MMI551C�N EXI'IfiZF�
SURVEYORS CERTIFICATE
i-Ay OF , I-f82,
NOTARY f U.r3LIG
I, JAMS F KES! f<, f{ Tz�isfERi✓iJ LfV tD SURVEYOR, HE=�EBY CERTIFY 7�-4/\-r TF(15 MfV' KEPfZESE`FTS ,MI
f\CTUA- MELD SUFKVEY` FI RF'pRM- i UNDEFL MY DIRECTION AND SJPEF, --)0N ON 1962 OF
LOTO A, 5 G, = D, 5LCC-K eZ, CITY AND T0WNSI7E. ASF-ff N, PITKIN COUNTY, COLORAF /\Nrj f tA7 THE
THEEE 5TOKY WC C b AND P.5UILPING W^5 FGL1NL7 70 8E. LOGA7ED FN-fI1�E.LY WIT4-flN THE.
P GtJNfJP FZY LINES OF IP LOTS AS SHOWN HEREOF), THE LCY AT(CN ^PV i7(MEN5fC c)r THE F_�0UNDAFFY
LINES, f J[LD1N65, IMFrCVEMENT5, E^5EMENTS AN17 K1GlHT5-dF-WP\Y IN EVVF-t-C Of-, "0" TD ME, /,Np
E-NGf (tt NTS P5Y OF, ON THESE PfZ!✓MIS!✓5 /AR1= Af-U��LY SHOWN C--N THIS AN?--,2 THE- N' \P-
f\CGUIe�TE�Y ANP �L11SSTflNTIALLY t7:E: ICTS THE. LOCATION) iWD THE riOKIZONTAL /Np VE:RTIGAL.
MEASLPZEMEt fTS 01= THE f7UILl71N6, THE GONCLOMINIUM UNITS Tl IEKEIN, THF_ UNIT DESICNAT(OIyS
THEREOF THE. INSTKUCTIONs Fli 0017r-P r-F- f!!?Y THE OWNER, TH1✓ OP' 5?.ID UNITS
/`�NfD THE OF THff PLDOKKS I'MV CEILINGS.
fK FPL.Itr' Elv'cI<CY`GFi1=> G3
P,L(,GK. WPPLL C't'
PLANNING & ZONING COMMISSION APPROVAL
TN15 COND�DKNIUM MAP OF TI-tL LODE CONDuJiN(UM WAS l�rrKLV= t3Y THn CITY off ASPEr-1
)'LANIti)N& t ZONING& THIO PAY C)F"
G-{AIRrtiV�N
CITY ENGINEERS APPROVAL -
THIS CCHDOMINIUM MAP OF THE f'1ZOSFECTCiZ LODC7E COl`MMiNIUM WAD AFPROVEp 5Y THE CITY ENCAINEEfZ OF
T"E CITY 0ff/ SPEI I, COLO�TX�, HI5 f�AY OF— q82.
CI7Y ENGINEERfln5�
> 2 o, 5r
1 12' lA SrRUC� W
� 350 uIGN
CITY OF ASPEN APPROVAL
7H15 t✓� OF THE PR.Ct)PECTO(Z LOCO=, COI`IRDfrflt`lIUM WA5 APf'ROVE>7 F3Y THE CI-TY COUNCIL. OF
N 7510q, I i" W
Tf 1 CfT7 Of' > SPEI I, CIJLOKAGO, TH15 jJ1Y OF I`f82.
-- 1A F1 = .7-
L,
KA7HKYN KCCH, CI-TY CLEKK f1EKMAN i✓Dl✓L,
CLERK & RECORDERS CERTIFICATE
71-115 CONDOMINIUM MAF GF THE FF,051"ECTCK LOF-)C1=. CCNFr-WIN(UM WA5 fCC)=FTED FOF, Pf)LINe IN THE
0 FICE OF THE CL)✓} te- FEr0E-DF-FL OF' PITKIN COUNTY, CCI Or- S P.7 O'CLOCK,
TH D/\Y OF J95Z, AND WAS f7ULY FILED IN fit` , AT
1'AC-yE 1��GEPTION N°
1'171<IN CIO CLErGK -
PROSPECTOR LODGE CONDOMINIUM
LC)T5 /\, n C, D f�LOCr- 52, CITY /1ND TOWNS)-11=. OF ASPTN, PITKIN CCUNTY, COLOF-,,�
EXHIBIT "C"
NOTICE According to Colorado law you must commence any it qal action
used upon any defect in this survey within si* years after you first discc,or
Amine Sl1rVPvS
�nynliyacl!ul1 naseu uPon III (]en'Ciin lnrS Survey Drafted I 2, �1\. .......,,.,. ..,
oe com manced more than ten years from the dal' ul Ih,� r. ertiti<atiun shown
hefeOn Post Office Box 1730
Aspen, Colorado 81611
303 925 2688
l itre C u-IL 'VI INIUM M^�
Job No
Client GfV fTf�Ut�
19 1154 5-50 MC9544
BASEMENT
r rTTr1
I2 I �
13
- o
f
1105 G O 0 1 L05 1 n 95
o-
_45 C.H17)
o
UNIT 0 UNIT 4 UNIT 5 UNIT Co o
UNIT 1
20
I �
� N
20
2 71 -
71
14.0
UNIT 2
70 U
y4 0 23 23
234, `34
1025 IA . LS IQ'�
2.35 40
1.5 O O 2.4 a7 J
PATIO 1'11: T .
l7.2 i
L _ _. - 1245
UNIT 7
N
705
705
rf 74
2 3 2.35
3333
f02 (85 v 1
1 ST FLOOR
2.
33,
102 1.751116-
I,
� I
III 11.0 10.95 -
iOH 11.0 1.35
N N
N
UNIT 10 UNIT 1"? UNIT 7-0
ICo UNIT 17
2.0 w
245 705 5 �� 7C
05 70
14.2
N tt d-
�i
24 ,
32- 335
1a15 2111 21 102
d- -
V AllR TI .ALE . NOT IN'S-IAL�,ED
'J tvIE OF StX`GVEY.
�J i
70 22.25
5 t .5 70
70 70
14. 15 14.2
-14
m 225 2.2
335
101 21
r
?5ALCONY
L--
3 RD FLOOR
fO�i re� 110 11 114-1 L
9
35.+ YP
1 LO11.0 11.05
UNIT 10 UNIT 11 UNIT 12 UNIT 13
UNIT 5 UNIT 9 to UNIT 14 UNIT 15
I
n
ILI
Q" 7D 5 5 70 tl rC N `V
ZO - ZO 70 S _ . _ I .5 700
20 W 14.2 4. 142- w
2-4 70 .5 5 70
70 70 i4+2252,235
+ n Y ��
14.1 I4.1 zo zo14. i5 �5 't 225 2.2 5 3.35 32I� i ?575 0.25 10 ib 1.7 1-7 102
2.15 2.4
34 �3.3 225 225
JO.IS 1.6 O 1A 103
10.(5175 .1 7 -T&5
,t/kil.x'Y
2 ND FLOOR
i
VOTICE Accordinn to Colorado law null cnm
based upon any defeCl in this survey within six years after you first dis-o ,
such defect In no event may any action based boor any defect in this survey
.commenced more than ten years from the date of the certification shown
holism,
/Alpine our VUY5
Post Office Box 1730
Aspen, Colorado 81611
303 925 2688
aurveyea Revisions
Drafted
Title ^
Job No
Client
K&E 19 1154 5-e0 MC9544
3 K17 FL. £LEV - 7924.2- -
2 NV f'L. ELE.V - M15.75
Phf R LOR: F. f=L = ' 313 l -
1
w
w
lid--
I —
C_ l
70F OF CHIMNEY ELEV =
_ TOP OF M)CF ELEY. = 7gXP.(o
i
_TOP OF I?CC E.LEV. = 7133.0
N
_39P FL. UPPEK LEVEL ELEV. =-792Ca.9
MAXIMUM P.L.LOW^@LL._NE;'�NY GF t+JILDIIv� __--_----.
µ?-IEELER OPEf'�A. NtJU:� VIEW PLPh.� LIhIE
(PI7zS i FIf,CK ELEUj',i(ON = 7`i07 f,5) � I
I ST. FL. ELEY 710735_}--
III---- I —
II
I II
WEST ELEVATION
r—
w
ti
NORTH ELEVATION
Surveyed 2 B2 J. 7 Revisions
_Z ND FL. UPPER LEVEL F-LEV. = 7917. 1
Vr OF WALL F_LEV. - 7`742.8
_ . 10r OF 1<00F ELF-Y. 713& Co
f
OF KGtOF ELEY = 7`7330
3KP FL. ELEY, = 7124.2
_ — _2 WV FL. ELF-V = 74I575
I
I_ -I trT. FL. ELEY. = 7,107.35
Title CONDOMINIUM MAI'
Job No 82 R3
Client CANTPUI'
NOTICE According to Culoradb law you must commence any iegal action 1AIN11 Imo' Jul Nei ya
based upon any defect in this survey within six years after you first disrover
suchdetect in no event may any action based upon any defect in this survey Post Office Box 1730
be commenced more than ten years from the date of the cerliticat— Shown
hereon Aspen, Colorado 81611
303 925 2688
Lit d I LwU