Loading...
HomeMy WebLinkAboutcoa.lu.ec.700 E Hyman Ave.50B(86)87`70p E. /iy,-h a006 Subd�'v�sior� Finale/af SO B F7 1 E C , 3? /8d -1/- oob ASPEN/PITKIN PLANNING OFFICE 130 South Galena Street Aspen, Colorado 81611 S-p B 6� S 7 (303) 925-2020 LAND USE APPLICATION FEES City 00113 - 63721 - 47331 GMP/CONCEPTUAL - 63722 - 47332 GMP/PRELIMINARY - 63723 - 47333 GMP/FINAL - 63724 - 47341 SUB/CONCEPTUAL - 63725 - 47342 SUB/PRELIMINARY - 63726 - 47343 SUB/FINAL - 63727 - 47350 ALL 2-STEP APPLICATIONS - 63728 - 47360 ALL 1-STEP APPLICATIONS/ CONSENT AGENDA ITEMS REFERRAL FEES: 00125 - 63730 - 47380 ENVIRONMENTAL HEALTH 00123 - 63730 - 47380 HOUSING 00115 - 63730 - 47380 ENGINEERING SUB -TOTAL `r D (� O d County 00113 - 63711 - 47431 GMP/GENERAL - 63712 - 47432 GMP/DETAILED - 63713 - 47433 GMP/FINAL - 63714 - 47441 SUB/GENERAL - 63715 - 47442 SUB/DETAILED - 63716 - 47443 SUB/FINAL - 63717 - 47450 ALL 2-STEP APPLICATIONS - 63718 - 47460 ALL 1-STEP APPLICATIONS/ CONSENT AGENDA ITEMS REFERRAL FEES: 00125 - 63730 - 47480 ENVIRONMENTAL HEALTH 00123 - 63730 - 47480 HOUSING 00113 - 63731 - 47480 ENVIRONMENTAL COORD. 00113 - 63732 - 47480 ENGINEERING PLANNING OFFICE SALES 00113 - 63061 - 09000 COUNTY CODE - 63062 - 09000 COMP. PLAN - 63066 - 09000 COPY FEES - 63069 - 09000 OTHER .'5un,J Vgr-)rl r� Name: C I Q Address:,$U w v d a u �> , Check # / .�7zb Additional Billing: - SUB -TOTAL SUB -TOTAL TOTALIt ,� O O Phone: /5 Project: 200 F_ . y t" O •-) in a a Date: 3 f # of Hours: 67 CASELOAD gQkMARY SB BET City of Aspen DATE RECEIVED: 3 311d-7 QiJE NO. DATE RECEIVED COMPLETE: STAFF: PROJECT NAME: :Z00 ,r y m JZS u b I V l s irn n E L) a � T 10--" APPLICANT: f applicant Address/Phone: i S 'e /o2i , Sa u,. J,yo G/4 a1/96S RE PR ES EN TAT IV E: e S Representative Address/Phone: 8o4 06 Type of Application: I. GMP/Subdivision/PUD 1. Conceptual Submission 20 $2,730.00 2. Preliminary Plat 12 1,6 40 .00 3. Final Plat 6 820 .00 II. Subdivision/PUD 1. Conceptual Submission - 1 - ----- -- $1,900.00 2. Preliminary Plat 9 1,220.00 3. Final Plat 6 820.00 III. All "Two Step" Applications 11 $1, 490 .00 IV. All "One Step" Applications 5 $ 680 .00 V. Referral Fees - Environmental Health, Housing Office 1. Minor Applications 2 $ 50.00 2. Major Applications 5 $ 125.00 Referral Fees - Engineering Minor Applications _ 80.00 Major Applications 200.00 P&Z ACC MEETING DATE: \ NO �•' -/� /PUBLIC HEARING. YES l DATE REFERRED: INITIALS: a� REFERRALS: / City Atty Aspen Consol. S.D. School District City Engineer Mtn. Bell Rocky Mtn. Nat. Gas Housing Dir. Parks Dept. State Hwy Dept (Glenwd) Aspen Water Holy Cross Electric State Hwy Dept (Gr.Jtn) City Electric Fire Marshall Bldg: Zoning/Inspectn Envir. Hlth. Fire Chief Other: Roaring Fork Transit Roaring Fork Energy Center FINAL ROUTING: __ ___________________ -------- -- DATE ROUTED: _ ____ _ IN ITIAL:� City Atty City Engineer V'. Building Dept. Other: FILE STATUS AND LOCATION:CAM- ()Ctu� Other: _ f+ CASE DISPOSITION: Jl C IIYMg,^ fill/.l Reviewed by : Asren P&Z izy Coun oil, ck J Y Ai efts /1FZLt, r•! 1. n.4 hLt Ile Y� Reviewcc: 17: T.snen P Z City Co`nci'• -FROM U FOR THE_P ATEMENT OF EXCEPTION E FULL SUBDIVISION PROCESS OSE OF SUBDIVIDING THE PROPERTY AVENUE, CITY OF ASPEN, COLORADO WHEREAS, HODGE CAPITAL COMPANY, a California limited partnership (hereinafter referred to as "Hodge") is the owner of a parcel of real property described on Exhibit "A" attached hereto and incorporated herein by this reference; and WHEREAS, Hodge has requested an exception from the full subdivision process for the purpose of subdividing the property described on Exhibit "A"; and WHEREAS, the City Council of Aspen, Colorado, at its regular meeting on February 23, 1987, determined that Hodge's request for such subdivision was appropriate and granted the same, subject however, to the conditions described hereinafter. NOW THEREFORE, the City Council of Aspen, Colorado, does determine that the application for exception from the full subdivision process for the purpose of subdivision of the property described on the attached Exhibit "A" is proper and hereby grants said subdivision, PROVIDED, HOWEVER, that the foregoing exception is expressly conditioned upon: 1. Hodge's recording of a Subdivision Exception Plat designating the two lots formed prior to the issuance of any building permits. Said plat shall conform to Section 20-15 of the Municipal Code of the City of Aspen, Colorado and contain the revised property descriptions. 2. Hodge's execution of a subdivision agreement as required by Section 20-16 of the Municipal Code of the City of Aspen, Colorado, in a form approved by the Aspen City Attorney. 3. Hodge agrees to participate in any future improvement districts encompassing its property. DATED this day of CITY OF ASPEN, a municipal corporation By WILLIAM L. STIRLING, Mayor . 1987. HODGE CAPITAL COMPANY, a California limited partnership By THOMAS H. WILSON, general partner (ADDITIONAL SIGNATURES AND ACKNOWLEDGMENTS ON FOLLOWING PAGE) - 1 - APPROVED AS TO FORM: PAUL J. TADDUNE, City Attorney I. KATHRYN S. KOCH, do hereby certify that the foregoing Statement of Exception from the Full Subdivision Process for the Purpose of Subdividing the Property at 700 East Hyman Avenue, Aspen, Colorado, was considered and approved by the Aspen City Council and that the Mayor, William L. Stirling, was authorized to execute the same on behalf of the City of Aspen. KATHRYN S. KOCH, City Clerk STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 1987, by THOMAS H. WILSON as general partner of HODGE CAPITAL COMPANY, a California limited partnership, on behalf of said partnership. WITNESS my hand and official seal. My commission expires: Notary Public STATE OF COLORADO ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of , 198&, by WILLIAM L. STIRLING, as Mayor, and KATHRYN S. KOCH as City Clerk of the CITY OF ASPEN, a municipal corporation. WITNESS my hand and official seal. My commission expires: exception/LOTSPL Notary Public - 2 - COVENANT RESTRICTING LOT 2, BLOCK 104, CITY AND TOWNSITE OF ASPEN, COLORADO TO USE AS "EMPLOYEE HOUSING" THIS COVENANT AND RESTRICTION affecting the use of real property is made this day of F 1987, by Hodge Capital Company, a California limited partnership (herein- after referred to as "Owner"). D L`f`T T TT C 1. Owner is the record owner of the following described real property and any improvements which may be constructed thereon (hereinafter referred to as the "Property") situate in the City of Aspen, Pitkin County, Colorado, to -wit: Lot 2, Block 104, City and Townsite of Aspen, Colorado. 2. The City Council of the City of Aspen on , 1987, approved a growth management plan and subdivision exemption application affecting the Property and allowing the development of unrestricted, "free market" dwelling units thereon. 3. As a condition of growth management plan and subdivi- sion exemption approval for the Property, the Owner is required to provide, at this time, property and/or dwelling units capable of housing 4.5 low income employees subject to the specific employee housing restrictions and guidelines of the City. 4. Owner desires to comply with the employee housing requirement by restricting the use of the Property at this time and to reserve the right to substitute other suitable dwelling units in the future, as more particularly set forth below. NOW, THEREFORE, in satisfaction of the aforementioned conditions of GMP and subdivision exemption approval, Owner hereby covenants and agrees as follows: 18/DD5 -1- 1. The Property shall be and is hereby restricted exclu- sively to use as rental or sale employee housing under and in accordance with the City of Aspen and the Aspen/Pitkin County Housing Authority Employee housing use, rental and sale guide- lines and qualifications in effect on the date of this covenant. 2. The restrictive covenant contained herein shall be deemed a burden upon and to run with the title to the Property, shall be binding upon the Owner, its successors and assigns, and upon all persons or entities having any right, title or interest in and to the Property or any part thereof, and shall inure to the benefit of and be specifically enforceable by the City of Aspen or its designee by any appropriate legal action including injunction, abatement or eviction of non -complying tenancies, unless such covenant is released as set forth below. 3. Release of Covenant. The imposition of the restrictive covenant contained herein, and its enforceability by the City of Aspen, are subject to and conditioned upon the reservation by Owner, its successors and assigns, of the absolute right to substitute appropriately deed restricted dwelling units which are capable of providing adequate housing for no less than 4.5 low income employees, as that term is defined by the Aspen/Pitkin County Housing Authority for the covenant contained herein. Such housing shall be deemed adequate if it meets the rental or sale guidelines for low income housing as established by the Aspen/Pitkin County Housing Authority on the date of this covenant. Substitution shall be accomplished by delivery to the Aspen City Attorney of a fully executed covenant restricting the dwelling units described therein to use as rental or sale employee housing in the same manner as contained herein. Upon receipt of said covenant, the City Attorney shall forthwith cause to be prepared and executed a full and complete release of the City's interest in the covenant contained herein, which release shall be recorded in the records of the Clerk and Recorder of Pitkin County. 18/DD5 -2- 4. Except as provided in Paragraph 3, above, this covenant shall not be modified, released or waived in any respect except by written instrument executed by both the Owner, or its succes- sors and assigns, and the City of Aspen. IN WITNESS WHEREOF, the Owner has hereunto set his hand and seal as of the day and year first above written. OWNER: HODGE CAPITAL COMPANY, A California Limited Partnership By:_ Thomas H. Wilson General Partner APPROVED AS TO FORM: ASPEN CITY ATTORNEY By: Paul J. Taddune STATE OF COLORADO ) ss. COUNTY OF PITKIN ) APPROVED AS TO FORM: ASPEN/PITKIN COUNTY HOUSING AUTHORITY By: Director Subscribed and sworn to before me by Thomas H. Wilson, as General Partner of Hodge Capital Company, a California limited partnership this day of , 1987. Witness my hand and official seal. My commission expires Notary Public 18/DD5 -3- CITY OF ASPEN 6 MEMO FROM STEVE BURSTEIN LQ)ov10%0%-r, ASI•e-►4i 14/1+k 700�yAgh Q e(] �-)j !iB 7 i�c d n ilm eAtj o" A pl a -7 & Jjv/-u +kc CShvllnb J kJ; an' Are eAr �a �4c k Ct,�,u� G k 4,,1z - "v 4. � & k%4b-yp-k 6*� - P"jy it �il► $� pp0 44OJs�� A✓1�Or�'}� pMdl�o bvilfia) V I oh j 4A41 m r vt�►ti)'i' S MEMORANDUM TO: Mayor and City Council THRU: Robert S. Anderson, Jr., City Manager FROM: Steve Burstein, Planning Office W RE: 700 E. Hyman Subdivision Final Plat DATE: April 22, 1987 SUMMARY: The Planning Office recommends approval of final plat subject to the condition that technical clarification be made to the Subdivision documents prior to signing of final plat. LOCATION: 700 E. Hyman Street, Lots K, L, M, N and O, Block 104, Townsite and City of Aspen. ZONING: O-Office. LAND AREA: 12,000 s.f. PRIOR COUNCIL ACTION: On February 23, 1987 City Council granted GMP allocation of two (2) units, approved conceptual subdivision, and approved an employee housing GMP exemption for the 700 E. Hyman project. PROBLEM DISCUSSION: A. Referral Comments: City Engineer: In a memorandum from Jay Hammond dated April 21, 1987 several comments were made regarding representation of site plan features (sidewalk and right-of-way improvements), financial assurances for public improvements, and grant of a seven foot by ten foot easement in the area around an existing transformer on the property. City Attorney: The City Attorney has verbally explained to the applicant's representative certain technical changes to be made to the Subdivision Improvements Agreement. Those changes were agreed on and should be executed to the satisfaction of the City Attorney prior to signing the final plat. B. Planning Office Comments: The Planning Office has reviewed the submitted documents with regard to conditions of approval from Conceptual Subdivision approval and compliance with Sections 20-15 and 20-16 of the Subdivision Regulations. We believe there are no substantive issues requiring Council's attention to be resolved prior to signing of the final plat; however, a number of minor technical matters need to be cleared up to the satisfaction of the City Engineer, City Attorney and Planning Office. The applicant has agreed to make the appropriate changes. These changes include: plat changes requested by the City Engineer, recordation of a landscape/site development plan, specification of a construction schedule, submission of employee housing deed restrictions, submission of a letter of credit or other financial guarantee, and tying commitments into specific permits and schedules as stated in conceptual approval. RECOMMENDED MOTION: "Move to approve the 700 E. Hyman final plat subject to the condition that all technical clarifications be made to the subdivision improvements agreement, statement of subdivision exception and final plat to the satisfaction of the City Attorney, City Engineer and Planning Office prior to signing of the final plat." CITY MANAGER RECOMMENDATIONS: ds sb.112 E APR 2 21987 MEMORANDUM R TO: Steve Burstein, Planning FROM: Jay Hammond, City Engineering DATE: April 21, 1987 RE: 700 E. Hyman Subdivision Exception Having reviewed the plat and draft agreement for the 700 E. Hyman Subdivision, I would offer the following comments: Final approval should be conditioned on the following: 1. Grant of a seven foot by ten foot easement in the area around the existing transformer on the northeast corner of the property as a " non-exclusive communications and electric easement." A separate easement agreement should be recorded. 2. The plat should show the proposed sidewalk and right-of-way improvements. 3. Financial assurances shall be required for public improvements and landscaping in the right-of-way. JH/co/700HymanSubdExcep VANN ASSOCIATES Planning Consultants March 27, 1987 Mr. Steve Burstein Aspen/Pitkin Planning Office 130 S. Galena Street Aspen, Colorado 81611 RE: Lucas Property Final Subdivision Plat Application Dear Steve: The attached documents are submitted pursuant to Section 20-14 of the Municipal Code in support of the Hodge Capital Company's request for final subdivision plat approval for the 700 East Hyman. Avenue condominium project. The documents are consistent with the City Council's February 23rd conditions of conceptual sub- division approval and include the following: 1) storm water retention plan, 2) improvements agreement, 3) sub- division exception plat, and 4) statement of subdivision exception. A check in the amount of $900.00 for payment of the application fee and referral to the City's En- gineering Department is also included. As we discussed, the Applicant wishes to obtain a building permit and begin construction as soon as possible given the current favorable weather conditions. Any assistance which you could provide in obtaining a timely review by the Planning Office and an expedited approval by City Council would be sincerely appreciated. Should you have any questions, assistance, please do not hesitate behalf of Vann Associates and the P.O. Box 8485 • Aspen, Colorado 81612 • 303/925-6958 or if to give Hodge I can be of any me a call. On Capital Company, Mr. Steve Burstein Aspen/Pitkin Planning Office March 27, 1987 Page 2 thank you for your assistance throughout the review process. Very truly yours, VAI�Y-ASSOCIA`TES , INC. runn7ent AICP Pres SV:jlr Attachment SUBDIVISION IMPROVEMENTS AGREEMENT FOR 700 EAST HYMAN SUBDIVISION This Subdivision Improvements Agreement is made and entered into this day of , 1987, by and between the CITY OF ASPEN, Colorado, a municipal corporation (hereinafter referred to as "City"), and HODGE CAPITAL COMPANY, a California limited partnership (hereinafter referred to as "Owner"). R E C I T A L S 1. The Owner has submitted to the City for approval, execution and recordation, the final plat of a tract of land situate within the City of Aspen, Colorado, legally described on Exhibit "A" attached hereto and incorporated herein by this reference, and designated as "700 East Hyman Subdivision" (the "Plat"); and 2. The City has fully considered the Plat, the proposed development, the improvement of the land and the effects of the proposed development and improvement of land included in the Plat on other adjoining or neighboring properties; and 3. The City has imposed certain conditions and requirements in connection with its approval, execution and recordation of the Plat, such matters being necessary to protect, promote and enhance the public welfare; and 4. The Owner is willing to acknowledge, accept, abide by and faithfully perform the conditions and requirements imposed by the City in approving the Plat; and S. Under tale authority of §§ 20-16 (c) of tn Municipal Code of the City of Aspen, Colorado, the City is entitled to assurance that the matters hereinafter agreed to will be faithfully performed by the Owner; NOW, THEREFORE, W I T N E S S E T H: NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES, the mutual covenants herein contained, and the approval, execution and acceptance of the Plat for recordation by the City, it is mutually agreed as follows: I. GENERAL DEVELOPMENT PLAN The 700 East Hyman Subdivision as shown on the Plat includes the following elements: A. Lots K, L, M, and N, Block 104, Aspen Townsite, City of Aspen, County of Pitkin, State of Colorado, are to be divided into two (2) duplex lots containing 6,000 sq. ft. each along the common lot line between Lots L and M. Each new lot would contain two (2) free-market units arranged in a townhouse row with each containing three (3) bedrooms. The floor area of the two (2) duplexes would total approximately 9,000 sq. ft. (.75:1 FAR). B. Employee Housing. The employee housing requirement has been met by the applicant agreeing to deed restrict two (2) two -bed units at Park Place Condominiums and making a cash -in -lieu payment for the equivalent of .4 low-income employees, as calculated at the time of the building permit application. II. CONSTRUCTION OF IMPROVEMENTS A. Nature of Improvements. Owner hereby agrees to be responsible for the making and installing of the improvements to be contained within the project. The nature of such improvements shall substantially conform to the schedule entitled "700 East Hyman Subdivision Improvement Schedule" attached hereto and made a part hereof as Exhibit B. ft B. Construction Schedule. Construction of all development improvements shall substantially conform to the construction schedule set forth within the attached Exhibit "B," unless amended in the manner set forth in §III, below. The construction schedule includes the dates anticipated for completion of the improvements. C. Storm Drainage. Design standards shall be approved by the Engineering Department to a standard which insures the maintenance of historic runoff patterns. D. Sidewalks. Sidewalks will be constructed as required by Resolution 19, Series of 1975. E. Landscaping Plan. In accordance with §24-8.16 of the Municipal Code, all landscaping shall substantially conform to the "Landscape -Site Plan" submitted with the 700 East Hyman Residential GMP Application on December 1, 1986, and described in the Landscape Inventory marked Exhibit "C" - 2 - attached hereto and made a part hereof, which together show the extent and location of all plant materials and other landscape features, proposed treatment of ground surfaces (e.g., paving, turf, gravel, etc.), location of water outlets, and a plant material schedule with common and botanical names, sized, quantities, and methods of transplant. Landscaping will be completed in a logical sequence commensurate with the completion of the structures contemplated for these premises and the climatic conditions extent in the City of Aspen, Colorado. F. Vegetation of Disturbed Areas. Owner agrees, pursuant to the provisions of the Landscaping and Grading Plan that during the course of construction any portions of the property which are disturbed shall, as soon as practical, be landscaped and vegetated in accordance with the Landscaping Plan. G. Site Improvements. Improvements to the site and adjacent right-of-ways will be completed in a logical sequence commensurate with the completion of the structures contemplated for these premises. H. Improvement District. In the event that any municipal improvement or improvements of a kind contemplated in Section 20-16 of the Municipal Code of the City of Aspen, as amended, became, in the sole judgment or discretion of the City Council of the City of Aspen, necessary or desirable to the area of the above described property, covenantors will make no unreasonable objection to any special assessment or special tax or proceeding therefor on the basis that the property is adequately served by existing improvements and/or on the basis that the premises will not be served or benefited by the improvement or improvements proposed. Convenantor further agrees to join, upon the demand therefor by the City, any special improvement district, urban renewal district formed for construction of such improvements (including, without limitation, signage, drainage, underground utilities, paved streets and alleys, planting, curbs, gutters, sidewalks, street lights, traffic circulation, trails, recreation facilities, berms, open space lands, public transportation facilities, parking, etc.), in the area of the above -described property. I. Woodburning Devices. The installation and use of any woodburning devises in the Subdivision will be governed by Ordinance 12 (series of 1983). J. Soils Test. If, during excavation, mine tailings are encountered, a soil sample will be provided to the Environmental Health Department for analysis. - 3 - III. NON-COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS BY OWNER A. In the event the City determines that the Owner is not acting in substantial compliance with the terms of this Agreement, the City may issue and serve upon the Owner a written order specifying the alleged non-compliance and requiring the Owner to cease and desist from such non-compliance and rectify the same within such reasonable time as the City may determine and specify in such order. Within twenty (20) days of the receipt of such order, the Owner may file with the City a notice advising the City that it is in compliance or a written petition requesting a hearing to determine any one or both of the following matters: (1) whether the alleged non-compliance exists or did exist; or, (2) whether a variance, extension of time or amendment to this Agreement shall be granted with respect to any such non-compliance which is determined to exist. Upon the receipt of such petition, the City shall promptly schedule a hearing to consider the matters set forth in the cease and desist order and in the petition. The hearing shall be convened and conducted pursuant to the procedures normally established by the City for other hearings. If the City determines by a preponderance of the evidence that a non-compliance exists which has not been remedied, it may issue such compliance orders as may be lawful and appropriate. B. The Owner may, on its own initiative, at any time petition the City for an amendment to this Agreement and the exhibits attached hereto or to extend any of the time periods or modify the specific time required for performance. With respect to the 700 East Hyman Subdivision Improvements Schedule (Exhibit "B"), the Owner has made various assumptions, which the City hereby acknowledges and accepts, including the following: (1) Obtaining the appropriate construction financing within one (1) year from the date of receiving all final subdivision approvals from the City; (2) Completion in an expeditious manner of the bidding, contractor selection, and implementation phases to meet the dates indicated; (3) Confirmation of the construction schedule by selected contractors; (4) Availability of the required labor and materials during each phase; (5) Sale of residences at a rate that would permit the phasing suggested in the Development and Construction Schedule. - 4 - The City shall not refuse to extend the time periods for performance indicated in the Development and Construction Schedule or refuse to allow reasonable adjustments to the Schedule or the specifications if the Owner demonstrates by a preponderance of the evidence that the reasons for such extension or said adjustments result from the failure of such assumptions, unforeseeable circumstances, litigation, acts of God, or other events beyond the control of the Owner despite good faith efforts on its part to accomplish the same. IV. FINANCIAL ASSURANCE Pursuant to Section 20-16 (c) and Section 24-8.16 of the Aspen Municipal Code, Owner hereby agrees to provide a guaranty in the sum of $ which sum represents the estimated cost of 100% of that portion of the subdivision improvements and 125% of that portion of the Landscaping Plan for which the City, through the City Engineer, has requested financial assurance. Those portions of the subdivision improvements and the Landscaping Plan for which financial assurance has been requested and which hereby is agreed to be given is described in Exhibits "B" and "C" attached hereto and made a part hereof. The guaranty to be provided by Owner shall be in a form acceptable to City. The guaranty shall give the City the unconditional right, upon default by the Owner, or its successor or assigns, to obtain funds upon demand to partially or fully complete and/or pay for any improvements or pay any outstanding bills for work done thereon by any party. As portions of the improvements required are completed, the City Engineer shall inspect them, and upon approval and acceptance, he shall authorize the release of the actual cost as documented by invoices for that portion the improvements; PROVIDED, HOWEVER, that ten percent (10%) of the estimated cost shall be withheld until all proposed improvements are completed and approved by the City Engineer. It is the express unC�erstanding of the parties that the procedure set forth in Section III pertaining to the procedure for default and amendment of this Agreement shall not be required with respect to the enforcement and implementation of financial assurance and guaranties to be provided by Owner as set forth above and required by Section 20-16(c) of the Municipal Code of the City of Aspen, Colorado. V. MISCELLANEOUS A. The provisions hereof shall be binding upon and inure to the benefit of the Owner and City and their respective successors and assigns. - 5 - B. This Agreement shall be subject to and construed in accordance with the laws of the State of Colorado. C. If any of the provisions of this Agreement or any paragraph, sentence, clause, phrase, word, or section or the application thereof in any circumstances is invalidated, such invalidity shall not affect the validity of the remainder of this Agreement, and the application of any such provision, paragraph, sentence, clause, phrase, word, or section in any other circumstance shall not be affected thereby. D. This Subdivision Improvements Agreement contains the entire understanding between the parties herein with respect to the transactions contemplated hereunder and may be altered or amended from time to time only by written instruments executed by all parties hereto. E. Numerical and title headings contained in this Agreement are for convenience only, and shall not be deemed determinative of the substance contained herein. As used herein, where the context requires, the use of the singular shall include the plural and the use of any gender shall include all genders. F. The parties agree that this Subdivision Improvements Agreement for 700 East Hyman Subdivision shall be recorded by the City in the Pitkin County, Colorado real property records. G. Notices to be given to the parties to this Agreement shall be considered to be given if delivered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or such other addresses as may be substituted upon written notice by the Parties or their successors or assigns: CITY OF ASPEN HODGE CAPITAL COMPANY, a City Manager California limited partnership 130 S. Galena Street 1505 Bridgeway, Suite 129 Aspen, CO 81611 Sausalito, California_94965 H. The terms, conditions, provisions and obligations herein contained shall be deemed covenants that run with and burden the real property more particularly described in Exhibit "A" hereto and any and all owners thereof, their successors, grantees or assigns and further shall inure to the benefit of and be specifically enforceable by or against the parties hereto, their successors, grantees or assigns. IN WITNESS WHEREOF, the parties hereto have hereunto executed their hands and seals on the dates and year - 6 - respectively indicated, in full understanding and agreement to the terms and conditions herein contained. ATTEST: City Cler STATE OF COLORADO) ) ss. COUNTY OF PITKIN ) CITY OF ASPEN, a Colorado municipal corporation By William Stirling, Mayor HODGE CAPITAL COMPANY, a California limited partnership i� general partner The foregoing instrument was acknowledged before me this day of r 1987, by WILLIAM STIRLING as Mayor, and KATHRYN KOCH, as City Clerk of THE CITY OF ASPEN, a Colorado municipal corporation. WITNESS my hand and official seal. My Commission expires: Notary Public STATE OF COLORADO) ) SS. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of , 1987, by as general partner of HODGE CAPITAL COMPANY, a California limited partnership, on behalf of said partnership. WITNESS my hand and official seal. My Commission expires: sdia/GMP2 Notary Public - 7 - EXHIBIT "A" Legal Description of 700 East Hyman Subdivision Lots K, L, M, and N, Block 104, Aspen Townsite, City of Aspen, County of Pitkin, State of Colorado �sL EXHIBIT "B" Improvements Schedule for 700 East Improvement: Install Fire Hydrant on SW corner Date of Completion: 9/30/87 Install Sidewalks (surfaced 9/30/87 with exposed aggregate and/or brick pavers), curbs and gutters including handicap ramp at intersection and street furniture man Subdivision Cost of Installation: $ 2,000.00 $ 5,500.00 EXHIBIT "C" Landscape Inventory for 700 East Hyman Subdivision Description: Improvement Cost: Trees and Shrubs: 9 Cleveland $ 10,000.00 Maples or equivalent species acceptable to Parks Dept. (minimum 3 2-4" caliper) ; 13 clusters of Aspen, shrubs, and bluegrass sod - 10 - STATEMENT OF EXCEPTION FROM THE FULL SUBDIVISION PROCESS FOR THE PURPOSE OF SUBDIVIDING THE PROPERTY AT 700 EAST HYMAN AVENUE, CITY OF ASPEN, COLORADO WHEREAS, HODGE CAPITAL COMPANY, a California limited partnership (hereinafter referred to as "Hodge") is the owner of a parcel of real property described on Exhibit "A" attached hereto and incorporated herein by this reference; and WHEREAS, Hodge has requested an exception from the full subdivision process for the purpose of subdividing the property described on Exhibit "A"; and WHEREAS, the City Council of Aspen, Colorado, at its regular meeting on February 23, 1987, determined that Hodge's request for such subdivision was appropriate and granted the same, subject however, to the conditions described hereinafter. NOW THEREFORE, the City Council of Aspen, Colorado, does determine that the application for exception from the full subdivision process for the purpose of subdivision of the property described on the attached Exhibit "A" is proper and hereby grants said subdivision, PROVIDED, HOWEVER, that the foregoing exception is expressly conditioned upon: 1. Hodge's recording of a Subdivision Exception Plat designating the two lots formed prior to the issuance of any building permits. Said plat shall conform to Section 20-15 of the Municipal Code of the City of Aspen, Colorado and contain the revised property descriptions. 2. Hodge agrees to participate in any future improvement districts encompassing its property. DATED this day of , 1987. HODGE CAPITAL COMPANY, a California limited partnership wo CITY OF ASPEN, a municipal corporation By WILLIAM L. STIRLING, Mayor general partner (ADDITIONAL SIGNATURES AND ACKNOWLEDGMENTS ON FOLLOWING PAGE) - 1 - APPROVED AS TO FORM: PAUL J. TADDUNE, City Attorney I. KATHRYN S. KOCH, do hereby certify that the foregoing Statement of Exception from the Full Subdivision Process for the Purpose of Subdividing the Property at 700 East Hyman Avenue, Aspen, Colorado, was considered and approved by the Aspen City Council and that the Mayor, William L. Stirling, was authorized to execute the same on behalf of the City of Aspen. KATHRYN S. KOCH, City Clerk STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 1987, by as general partner of HODGE CAPITAL COMPANY, a California limited partnership, on behalf of said partnership. WITNESS my hand and official seal. My commission expires: STATE OF COLORADO ) Notary Public ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of , 198&, by William L. Stirling, as Mayor, and Kathryn S. Koch as City Clerk of the CITY OF ASPEN, a municipal corporation. WITNESS my hand and official seal. My commission expires: exception/LOTSPL Notary Public - 2 - ASPEN/PITRIN'PLANNING OFFICE 130 S. Galena Street Aspen, CO 81611 (303) 925-2020 Date: 1 RE )Af Dear (,^ / -' This is to inform you that the Planning Office has completed its preliminary review of fhe captioned application. We have determined that your application IS NOT complete. Additional items required include: Disclosure of Ownership (one copy only needed) Adjacent Property Owners List/Envelopes/Postage (one copy) Additional copies of entire application Authorization by owner for representative to submit applica- tion Response to list of items (attached/below) demonstrating compliance with the applicable policies and regulations of the Code, or other specific materials A check in the amount of $ A. Your application ,i.,s complete and we hag scheduled it for review by the ��f- on ��11,L.-'We will call you if we need any additional information prior to that date. Several days prior to your hearing, we will call and make available a copy of the memorandum.. Please note that it IS NOT your responsibility to post your property with a sign, which we can provide you for a $3.00 fee. B. Your application is incomplete, we have not scheduled it review at this time. When we receive the materials we have requested, we will place you on the next available agenda. If you have any questions, please call 1 r the planner assigned to your case. Sincerely, ASPEN/PITRIN PLANNING OFFICE GROUNDWORK 210 S. Galena Street Suite 24 Aspen, CO 81611 (303) 920-1202 March 30, 1987 Mr. Jay Hammond City Engineer 130 S. Galena St. Aspen, CO 81611 Dear Mr. Hammond: I have reviewed the drainage characteristics of the 700 East Hyman Subdivision Exception parcel. Using the Rational Method, I have determined that the maximum runoff on the undeveloped site during a 100 year storm event is .052 c.f.s. Maximum runoff after development will be .142 c.f.s. The historical rate of runoff of .052 c.f.s. will be maintained through use of on -site swales and a system of below ground cisterns/drywell. Given the physical characteristics of the site, drywells are necessary to provide adequate foundation, rooftop and driveway drain- age. Storm water will be allowed to pool in cisterns and be dispersed slowed into the soil, which has good per- meability characteristics. Two 750 gallon cisterns and one 1,500 gallon cistern, all of which will be placed on a gravel bed, will be used to accommodate peak storm flows from the rooftop, driveway and patio areas. The remainder of the runoff on site will be routed to the street at historic rates. Thank you and Elyse Elliot for your invaluable assistance with this project. Please do not hesitate to contact me if you have questions. Sincerely, GROUNDWORK _- U- Way Ethridge WE:jlr November 3, 1987 Paul Taddune, Citv Attorney 130 South Galena Aspen, CO 81611 Dear Mr. Taddune: Enclosed herewith is a monev order in the amount of $25,000.00 made payable to the City of Aspen. The City is authorized to hold such funds in an interest -bearing account. Interest shall accrue to the benefit of Hodge -West Company if the funds are refunded as provided below. The funds are to be held as security for the reconstruction of an exterior stairway attached to the West entry of Unit A of the 700 East Hvman Duplexes, should such reconstruction be required by the City and for the payment of legal fees and other costs which may be incurred by the City in enforcing Hodge -West's obligations hereunder. This security arrangement is necessary because the stairway in question does not precisely conform to the plans submitted in the process of GMP approval for the 700 East Hyman Duplex project. Hodge -West intends to seek approval of the as -built stairwav as a modification to the GMP allocation. If such modification is not approved by resolution of the Planning and Zoning Commission and City Council, then Hodge -West shall reconstruct the stairway in accordance with the previously approved plans. If Hodge -West fails to obtain approval of the modification or to reconstruct by May 15, 1988, then the City is authorized to enter upon the property in question, to reconstruct the stairway, and to apply as much of the security deposit as required to the cost thereof and to refund the difference to Hodge -West. If either the stairway is reconstructed by Hodge -West or the modification is approved prior to May 15, 1988, the City shall promptly refund the security deposit, together with interest. Very truly yours, HODGE-WEST COMPANY By :_�-._ ACCEPTANCE: CITY OF ASPEN _4 - By: Z�L'S "� tt ZG-�'f —P)."t�n%� G.ItiV'tiln WVV�� )vYvQ� M' aw► � �e � . D 0 I ►� F n av,, . Slo Y �,,/ — 2hq�`//1h<ry nl pI7yL Aspen/Pitki'n Planning Office 130 sou""I h g-alena-'=stree t aspen`, 'colora d o 81611 Mr. Larry Yaw Hagman Yaw Architects 210 S. Galena Streety Aspen, Colorado 81611 October 19, 1987 Dear Larry: As we discussed last week, the Planning Office has found that the 700 East Hyman Project west entry staircase deviates from the approved plan. The Planning and Zoning Commission also reached concensus that the staircase as built is a substantial deviation from the plan they approved; and we have recommended to the Building Department that this feature should be brought into compliance prior to issuance of a Certificate of Occupancy. You may either bring this architectural feature into compliance or make application for an amendment to the approved GMP plan according to Section 24-11.7(b) of the Municipal Code. A GMP amendment would be heard by both the Planning and Zoning Commis- sion and City Council. This matter cannot be scheduled before P&Z until we have a complete application. Sincerely, Steve Burstein, Aspen/Pitkin Planning Office sb.700.1 MEMORANDUM -?-PW-121 �nj To: Steve Burstein, planning �' From: Wayne i' Fire Marshal. RE: 700 E. Hyman Condos Date October 15, 1987 A visit to the complex indicated that the Fire Hydrant is in proper location for fire service use. HAGMAN YAW ARCHITECTS LTD 210 SOUTH GALENA ASPEN, COLORADO 81611 303/925-2867 OCT4011987 14 October 1987 Mr. Steve Burstein Aspen Planning Department 130 South Galena Aspen, Colorado 81611 Re: 700 East Hyman Project Dear Steve: Thank you for apprising us of the architectural detail problem you perceive with respect to the entry stair configuration accessing the Spring Street unit of the 700 East Hyman project. We understand that your deliberations with P&Z on this matter will result in withholding issuance of a Certificate of Occupancy until resolved, and we are most anxious to do so at the earliest possible time because the project is nearly complete and ready for occupancy. The actual built stairway does in fact vary slightly from the design representation in the GMP application document. We and the project ownership altered the design during the design development process following the GMP approval believing that it was a minor refinement which enhanced project workability but did not affect the detailed design concept presented to P&Z during the GMP review process. Had we viewed it as other than a refinement of no consequence, we would have requested approval through proper channels at the time we altered the design. The refinement to the stair access of Units A, B and C occurred because we wanted to clarify the access to the units. You may notice that Unit D is built as shown on the application because that concept works for that unit's entry. We did not feel the need to place a sidewalk to the north of Unit A duplicating the function of the city sidewalk and adding an addi- tional strip of concrete on the public view side of the project. This eliminated the need for the double -access stairway. We substituted a single -access stairway utilizing the identical materials and "feeling" of the schematic representation. We have used exposed aggregate with brick sidewalk just as originally shown. Upon further development of the entry into Units B and C, we felt that two separate stairways would cause a hole between the units that would become deeply shaded and unusable for anyone. Bringing the site up into the entry areas creates an environmental planting area that we have landscaped nicely with trees and annual flowers. Letter to Mr. Steve Burstein 14 October 1987 Page Two If we misinterpreted the precise level of finished architectural detail by which the Planning Office and P&Z measure compliance to GMP representations, we sincerely apologize, but honestly felt we were well within normal, and acceptable limits of design discretion. Our firm, as well as the architectural community in Aspen who generally prepare GMP applications, feel that a GMP submission represents a schematic design level of project definition and that it would be unusual as well as highly constraining if subsequent design development to the completed construction document level did not involve improvement and refinement beyond the schematic level. We think it important that the process of improvement and refinement be encouraged within approval latitudes of GMP commit- ment, rather than discouraged by an overzealous "police policy" with respect to design detail. On the opposite side of things, we feel a GMP requirement that demands a highly precise level of detail commitment results in a very costly application process without resulting public benefit. Perhaps the problem is one of communication. If you are going to demand precise conformance with respect to architectural design details, then the Planning Office should formalize that measure so that the private sector and the architects have a common expecta- tion. I think it would save us all a lot of potential problems such as the one that has arisen with this project. We would appreciate the opportunity to seek remedy for this problem with the Planning and Zoning Commission at their earliest convenience. Perhaps it would also prove useful to address the broader concerns of policy at that time. Thank you very much for bringing this to our attention, Steve. Very truly (yours, V I La Ya IA li Principal' LY:sv cc: Tom Wilson Alan Richman MEMORANDUM TO: Jim Wilson, Chief Building Inspector CC: Jay Hammond, City Engineer Wayne Vandemark, Fire Marshal Tom Dunlop, Environmental Health Department Bill Drueding, Zoning Official FROM: Steve Burstein, Planning Office RE: 700 E. Hyman Street compliance with conditions of approval DATE: October 14, 1987 Following are the Planning office's comments to you prior to issuance of a certificate of occupancy for the 700 E. Hyman Street duplexes based on an October 8, 1987 site visit. Project features are organized as to (1) compliance with land use approvals needing no further staff or applicant attention and (2) need for follow-up prior to issuance of C.O. 1. Project appears to comply with land use approvals 1. Architecture: enclosure of rear balconies (minor deviat- ion from approved plans), materials (appear as approved), height (no comment). 2. Site plan: retaining walls (not shown in GMP application, minor deviation as long as landscape plan can still be accomplished as approved), open space (no comments), and sidewalks (appear as approved). 3. Construction Schedule: represented by end of 1987 (ahead of schedule). 4. Parking: 16 spaces and snowmelt (appear to be provided as approved). 5. Employee Housing: Signed deed restriction placed on the eastern duplex (Lot 2 of Block 104) as approved. Substitu- tion of these units has not yet been approved by Housing Authority - which must be accomplished prior to lifting deed restriction. 2. Project features need further follow-up 1. Architecture: The west entry staircase deviates from the design represented in the GMP application. On October 13, 1987 the Planning and Zoning Commission unanimously passed a motion recommending to the Building Inspector to not issue a Certificate of Occupancy until this feature is brought into compliance with approved plans, as from what the Commission has seen the original is preferred, or receives approval from P&Z for an amendment. 2. Energy conservation: representations were not checked during the site visit; Building Department should review. 3. Water system/fire protection: The fire hydrant is installed on corner as approved to location. Fire Marshal and Water Department should verify that hydrant is satisfac- tory. 4. Fireplaces/wood stoves: Only one fireplace was installed in the unit I saw. This is fewer than the maximum allowed by City Code or represented in application. Was told one fireplace/unit throughout project, but cannot verify. 5. Drywells: Installed as to number in plan; should be checked to satisfaction of the Engineering Department. 6. Landscaping: Was not installed at time of site visit. Number, specy, location and the calipers or quanity speci- fied in the Building Permit plans and Improvements Agreement should be checked and approved prior to release of subdivis- ion improvements guarantee. sb.700 2 CO 61 CO 00 N C r�o a. s.. SUBDIVISION IMPROVEMENTS AGREEMENT FOR 700 EAST HYMAN SUBDIVISION This Subdivision Improvements Agreement is made and entered into this � day of �, 1987, by and between the CITY OF ASPEN, Colorado, a municipal corporation (hereinafter referred to as "City"), and HODGE CAPITAL COMPANY, a California limited partnership (hereinafter referred to as "Owner"). R E C I T A L S 1. The Owner has submitted to the City for approval, execution and recordation, the final plat of a tract of land situate within the City of Aspen, Colorado, legally described on Exhibit "A" attached hereto and incorporated herein by this reference, and designated as "700 East Hyman Subdivision" (the "Plat"); and 2. The City has fully considered the Plat, the proposed development, the improvement of the land and the effects of the proposed development and improvement of land included in the Plat on other adjoining or neighboring properties; and 3. The City has imposed certain conditions and requirements in connection with its approval, execution and recordation of the Plat, such matters being necessary to protect, promote and enhance the public welfare; and 4. The Owner is willing to acknowledge, accept, abide by and faithfully perform the conditions and requirements imposed by the City in approving the Plat; and 5. Under the authority of §§ 20-16(c) of the Municipal Code of the City of Aspen, Colorado, the City is entitled to assurance that the matters hereinafter agreed to will be faithfully performed by the Owner; NOW, THEREFORE, W I T N E S S E T H: NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES, the mutual covenants herein contained, and the approval, execution and acceptance of the Plat for recordation by the City, it is mutually agreed as follows: I. GENERAL DEVELOPMENT PLAN The 700 East Hyman Subdivision as shown on the Plat includes the following elements: A. Lots K, L, M, and N, Block 104, Aspen Townsite, City of Aspen, County of Pitkin, State of Colorado, are to be divided into two (2) duplex lots containing 6,000 sq. ft. each along the common lot line between Lots L and M. Each new lot would contain two (2) free-market units arranged in a townhouse row with each containing three (3) bedrooms. The floor area of the two (2) duplexes would total approximately 9,000 sq. ft. (.75:1 FAR). B. Employee Housing. The employee housing requirement has been met by the applicant agreeing to make a cash -in -lieu payment for the equivalent of .4 low-income employees, as calculated at the time of the building permit application, and deed restrict Lot 2, Block 104, City and Townsite of Aspen, Colorado to be exclusively used as rental or sale employee housing subject to its absolute right to substitute appropriately deed restricted dwelling units which are capable of providing adequate housing for no less than 4.5 low income employees, as that term is defined by the Aspen/Pitkin County Housing Authority under its quidelines as established on the date of this Agreement. The employee housing commitment described herein shall be performed in the following manner. Substitution shall be accomplished by delivery to the Aspen City Attorney of a fully executed covenant restricting the dwelling units described therein to use as rental or sale employee housing in the same manner as contained herein. Upon receipt of said covenant, the City Attorney shall forthwith cause to be prepared and executed a full and complete release of the City's interest in the covenant contained herein, which release shall be recorded in the records of the Clerk and Recorder of Pitkin County. II. CONSTRUCTION OF IMPROVEMENTS A. Nature of Improvements. Owner hereby agrees to be responsible for the making and installing of the improvements to be contained within the project. The nature of such improvements shall substantially conform to the schedule entitled "700 East Hyman Subdivision Improvement Schedule" attached hereto and made a part hereof as Exhibit 11B." - 2 - BOOK 535 �" �U� 44,, B. Construction Schedule. Construction of all development improvements shall substantially conform to the construction schedule set forth within the attached Exhibit "B," unless amended in the manner set forth in §III, below. The construction schedule includes the dates anticipated for completion of the improvements. C. Storm Drainage. Design standards shall be approved by the Engineering Department to a standard which insures the maintenance of historic runoff patterns. D. Sidewalks. Sidewalks will be constructed as shown on the "landscape -site plan" recorded with the final plat executed in connection herewith and in conformance with the standards and specifications for sidewalks on file in the office of the City Engineer. E. Landscaping Plan. In accordance with §20-16 of the Municipal Code, all landscaping shall substantially conform to the "Landscape -Site Plan" recorded with the final subdivision plan executed in connection herewith and described in the Landscape Inventory marked Exhibit "C" attached hereto and made a part hereof, which together show the extent and location of all plant materials and other landscape features, proposed treatment of ground surfaces (e.g., paving, turf, gravel, etc.), location of water outlets, and a plant material schedule with common and botanical names, sized, quantities, and methods of transplant. Landscaping will be completed in a logical sequence commensurate with the completion of the structures contemplated for these premises and the climatic conditions extent in the City of Aspen, Colorado. F. Vegetation of Disturbed Areas. Owner agrees, pursuant to the provisions of the Landscaping and Grading Plan that during the course of construction any portions of the property which are disturbed shall, as soon as practical, be landscaped and vegetated in accordance with the Landscaping Plan, no later than June 30, 1988. G. Site Improvements. Improvements to the site and adjacent right-of-ways will be completed pursuant to Exhibit "B" in a logical sequence commensurate with the completion of the structures contemplated for these premises. H. Improvement District. In the event that any municipal improvement or improvements of a kind contemplated in Section 20-16 of the Municipal Code of the City of Aspen, as amended, became, in the sole judgment or discretion of the City Council of the City of Aspen, necessary or desirable to the area of the above described property, covenantors will make no unreasonable objection to any special assessment or special tax or proceeding therefor on the basis that the property is adequately served by existing - 3 - BoaK 53 5 ; . m�,:� improvements and/or on the basis that the premises will not be served or benefited by the improvement or improvements proposed. Convenantor further agrees to join, upon the demand therefor by the City, any special improvement district, urban renewal district formed for construction of such improvements (including, without limitation, signage, drainage, underground utilities, paved streets and alleys, planting, curbs, gutters, sidewalks, street lights, traffic circulation, trails, recreation facilities, berms, open space lands, public transportation facilities, parking, etc.), in the area of the above -described property. I. Woodburning Devices. The installation and use of any woodburning devises in the Subdivision will conform to the regulations, standards and specifications under Section 11-2.3 of the Municipal Code of the City of Aspen, Colorado as in effect on the date of this Agreement. J. Soils Test. If, during excavation, mine tailings, waste, or dump are encountered, a soil sample will be provided to the Environmental Health Department for analysis. III. NON-COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS BY OWNER A. In the event the City determines that the Owner is not acting in substantial compliance with the terms of this Agreement, the City may issue and serve upon the Owner a written order specifying the alleged non-compliance and requiring the Owner to cease and desist from such non-compliance and rectify the same within such reasonable time as the City may determine and specify in such order. Within twenty (20) days of the receipt of such order, the Owner may file with the City a notice advising the City that it is in compliance or a written petition requesting a hearing to determine any one or both of the following matters: (1) whether the alleged non-compliance exists or did exist; or, (2) whether a variance, extension of time or amendment to this Agreement shall be granted with respect to any such non-compliance which is determined to exist. Upon the receipt of such petition, the City shall promptly schedule a hearing to consider the matters set forth in the cease and desist order and in the petition. The hearing shall be convened and conducted pursuant to the procedures normally established by the City for other hearings. If the City determines by a preponderance of the - 4 - BOOK535 x^,4 evidence that a non-compliance exists which has not been remedied, it may issue such compliance orders as may be lawful and appropriate. B. The Owner may, on its own initiative, at any time petition the City for an amendment to this Agreement and the exhibits attached hereto or to extend any of the time periods or modify the specific time required for performance. With respect to the 700 East Hyman Subdivision Improvements Schedule (Exhibit "B"), the Owner has made various assumptions, which the City hereby acknowledges and accepts, including the following: (1) Obtaining the appropriate construction financing within one (1) year from the date of receiving all final subdivision approvals from the City; (2) Completion in an expeditious manner of the bidding, contractor selection, and implementation phases to meet the dates indicated; (3) Confirmation of the construction schedule by selected contractors; (4) Availability of the required labor and materials during each phase; (5) Sale of residences at a rate that would permit the phasing suggested in the Development and Construction Schedule. The City shall not refuse to extend the time periods for performance indicated in the Development and Construction Schedule or refuse to allow reasonable adjustments to the Schedule or the specifications if the Owner demonstrates by a preponderance of the evidence that the reasons for such extension or said adjustments result from the failure of such assumptions, unforeseeable circumstances, litigation, acts of God, or other events beyond the control of the Owner despite good faith efforts on its part to accomplish the same. IV. FINANCIAL ASSURANCE Pursuant to Section 20-16 (c) of the Aspen Municipal Code, Owner hereby agrees to provide a guaranty in the sum of $17,500.00, which sum represents the estimated cost of 100% of the subdivision improvements and Landscaping Plan for which the City, through the City Engineer, has requested financial assurance. Those portions of the subdivision improvements and the Landscaping Plan for which financial assurance has been requested and which hereby is agreed to be given is described in Exhibits "B" and "C" attached hereto and made a part hereof. As security for the performance of its obligations hereunder, Hodge has - 5 - Boa deposited cash in the amount of $17,500.00 with the City. Said deposit was made with the understanding and upon the condition that the full amount of said deposit will be returned to Hodge upon delivery to the City Attorney of a fully executed irrevocable letter of credit or loan agreement, either of which gives the City the unconditional right, upon default by the Owner, or its successors or assigns, in the performance of the provisions of this Agreement, to withdraw sufficient funds, upon demand, to partially or fully complete and/or pay for any improvements required pursuant to this Agreement or to pay any outstanding bills for work done pursuant to this Agreement. As portions of the improvements required hereunder are completed, the City Engineer shall inspect them, and upon approval and acceptance, he shall authorize the release of the actual cost as documented by invoices for that portion of the improvements required hereunder, provided however, that ten (10%) percent of the estimated costs shall be withheld until all improvements required hereunder are completed and approved by the City Engineer. The Owner, its successors and assigns, hereby agrees to further provide the City with a warranty as to all water and sewer improvments constructed hereunder for a period of one year from and after acceptance by the City of such improvements. It is the express understanding of the parties that the procedure set forth in Section III pertaining to the procedure for default and amendment of this Agreement shall not be required with respect to the enforcement and implementation of financial assurance and guaranties to be provided by Owner as set forth above and required by Section 20-16(c) of the Municipal Code of the City of Aspen, Colorado. V. MISCELLANEOUS A. The provisions hereof shall be binding upon and inure to the benefit of the Owner and City and their respective successors and assigns. B. This Agreement shall be subject to and construed in accordance with the laws of the State of Colorado. C. If any of the provisions of this Agreement or any paragraph, sentence, clause, phrase, word, or section or the application thereof in any circumstances is invalidated, such invalidity shall not affect the validity of the remainder of this Agreement, and the application of any such provision, paragraph, sentence, clause, phrase, word, or section in any other circumstance shall not be affected thereby. Mm Boox535 �.,Ni-1-432 D. This Subdivision Improvements Agreement contains the entire understanding between the parties herein with respect to the transactions contemplated hereunder and may be altered or amended from time to time only by written instruments executed by all parties hereto. E. Numerical and title headings contained in this Agreement are for convenience only, and shall not be deemed determinative of the substance contained herein. As used herein, where the context requires, the use of the singular shall include the plural and the use of any gender shall include all genders. F. The parties agree that this Subdivision Improvements Agreement for 700 East Hyman Subdivision shall be recorded by the City in the Pitkin County, Colorado real property records. G. Notices to be given to the parties to this Agreement shall be considered to be given if delivered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or such other addresses as may be substituted upon written notice by the Parties or their successors or assigns: CITY OF ASPEN HODGE CAPITAL COMPANY, a City Manager California limited partnership 130 S. Galena Street 1505 Bridgeway, Suite 129 Aspen, CO 81611 Sausalito, California 94965 H. The terms, conditions, provisions and obligations herein contained shall be deemed covenants that run with and burden the real property more particularly described in Exhibit "A" hereto and any and all owners thereof, their successors, grantees or assigns and further shall inure to the benefit of and be specifically enforceable by or against the parties hereto, their successors, grantees or assigns. IN WITNESS WHEREOF, the parties hereto have hereunto executed their hands and seals on the dates and year respectively indicated, in full understanding and agreement to the terms and conditions herein contained. CITY OF ASPEN, a Colorado municipal corporation By � � — William Stirling, Maydlf • S A,TTf . City Clerk i - 7 - r # `3 nuOK J�J r 40 HODGE CAPITAL COMPANY, a California limited partnership By �L THOMAS H. WILSON, general partner STATE OF COLORADO) ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this .day of 1987, by WILLIAM STIRLING as `? �• Mayc1jF;-and KATHRYN KOCH, s City Clerk of THE CITY OF ASPEN, :•l f 9Tfa'•�ororado municipal cor oration. zk�'o t � , -WITNESS my hand and official seal. ` oM: Commission expires: Notaryj Public STATE OF COLORADO) ) ss. COUNTY OF PITKIN ) The oregoing 'nst ment was acknowledged before me . t\(NlAR,y t'bis �7 day of �'� 1987, by THOMAS H. WILSON as -a o-o- ;'general partner of HO GE CAPITAL COMPANY, a California partnership, on behalf of said partnership. I frl`(\!`•:;. WITNESS my hand and official seal. My Commission expires: My Commission Epu•es Fobruary. 19, 1989 Notary Public APPROVED AS TO FORM: Paul A. T06une, City Attorney sdia/GMP2 pp ��K 53C' � liil' ` 4 q� U1 EXHIBIT "A" Legal Description of 700 East Hyman Subdivision Lots K, L, M, and N, Block 104, Aspen Townsite, City of Aspen, County of Pitkin, State of Colorado BooK53J EXHIBIT "B" Improvements Schedule for 700 East Hyman Subdivision Date Cost Improvement: of Completion: of Installation: Install Fire Hydrant on SW corner Install Sidewalks (surfaced with exposed aggregate and/or brick pavers), curbs and gutters including handicap ramp at intersection and street furniture, including tree grates and bicycle rack 9/30/87 $ 2,000.00 9/30/87 $ 5,500.00 - 10 - BNK535 EXHIBIT "C" Landscape Inventory for 700 East Hyman Subdivision Description: Improvement Cost: Trees and Shrubs: 9 Cleveland $ 10,000.00 Maples or equivalent species acceptable to Parks Dept. (minimum 31-4" caliper); 13 clusters of Aspen, shrubs, and bluegrass sod 11 If A A BOOK 5 P,1i,tE 43) s STATEMENT OF EXCEPTION FROM THE FULL SUBDIVISION PROCESS FOR THE PURPOSE OF SUBDIVIDING THE PROPERTY AT 700 EAST HYMAN AVENUE, CITY OF ASPEN, COLORADO WHEREAS, HODGE CAPITAL COMPANY, a California limited partnership (hereinafter referred to as "Hodge") is the owner of a parcel of real property described on Exhibit "A" attached hereto and incorporated herein by this reference; and WHEREAS, Hodge has requested an exception from the full subdivision process for the purpose of subdividing the property described on Exhibit "A"; and WHEREAS, the City Council of Aspen, Colorado, at its regular meeting on February 23, 1987, determined that Hodge's request for such subdivision was appropriate and granted the same, subject however, to the conditions described hereinafter. NOW THEREFORE, the City Council of Aspen, Colorado, does determine that the application for exception from the full subdivision process for the purpose of subdivision of the property described on the attached Exhibit "A" is proper and hereby grants said subdivision, PROVIDED, HOWEVER, that the foregoing exception is expressly conditioned upon: 1. Hodge's recording of a Subdivision Exception Plat designating the two lots formed prior to the issuance of any building permits. Said plat shall conform to Section 20-15 of the Municipal Code of the City of Aspen, Colorado and contain the revised property descriptions. 2. Hodge's execution of a subdivision agreement as required by Section 20-16 of the Municipal Code of the City of Aspen, Colorado, in a form approved by the Aspen City Attorney. 3. Hodge agrees to participate in any future improvement districts encompassing its property. DATED this 69�``day of , 1987. ODGE CAPITAL COMPANY, a California limit partnership` THOMA5 H. WILSON, general partner CITY OF ASPEN, a municipal corporate n By J��- WILLIAM L. STIRLING, Jfayor (ADDITIONAL SIGNATURES AND W 1� tV 00 00 ACKNOWLEDGMENTSkN FO OWING PAGE)Cn Ln - 1 - Cd 4 �1 : M gnoKJ3J V AP S TO FORM: PAUL J. TADDUNE, City At or ey I. KATHRYN S. KOCH, do hereby certify that the foregoing Statement of Exception from the Full Subdivision Process for the Purpose of Subdividing the Property at 700 East Hyman Avenue, Aspen, Colorado, was considered and approved by the Aspen City Council and that the Mayor, William L. Stirling, was authorized to execute the same on behalf of the City of Aspen. KATHRYN S KOCH, City Cler STATE OF COLORADO ) � ) ss. COUNTY OF f / T/C/ A) ) T foregoing instrument was acknowledged before me this aV/�ay 1987, by THOMAS H. WILSON as general partner of D VITAL COMPANY, a California limited partnership, on behalf of a' IAd►fJs partnership. -WITNESS my hand and official seal. PUP�,. �a My commission expires: ,.-My l;ommission L-xpires February 19, j98 Z4�� STATE OF COLORADO ) ss. COUNTY OF PITKIN T e foregoing instrument was acknowledged before me this lc� day of u , 198y, by WILLIAM L. STIRLING, as Mayor, and KATHRYN S. KOCH s City Clerk of the CITY OF ASPEN, a municipal corporation. t\.L (• WITNESS my hand and official seal. commission expires:.�� 9/ 1, OTA ,riy ``� a Not y Public T • n � exception/LOTSPL n rl 800635 P,,�_ 439 M COVENANT RESTRICTING LOT 2, BLOCK 104, anRe CITY AND TOWNSITE OF ASPEN, COLORADO am tt9 ao TO USE AS "EMPLOYEE HOUSING" 32 THIS COVENANT AND RESTRICTION affecting the use of real property is made this op�? day of 41987, by Hodge Capital Company, a California limited partnership (herein- after referred to as "Owner"). -T! TMTT C1 1. Owner is the record owner of the following described real property and any improvements which may be constructed thereon (hereinafter referred to as the "Property") situate in the City of Aspen, Pitkin County, Colorado, to -wit: Lot 2, Block 104, City and Townsite of Aspen, Colorado. 2. The City Council of the City of Aspen on , 1987, approved a growth management plan and subdivision exemption application affecting the Property and allowing the development of unrestricted, "free market" dwelling units thereon. 3. As a condition of growth management plan and subdivi- sion exemption approval for the Property, the Owner is required to provide, at this time, property and/or dwelling units capable of housing 4.5 low income employees subject to the specific employee housing restrictions and guidelines of the City. 4. Owner desires to comply with the employee housing requirement by restricting the use of the Property at this time and to reserve the right to substitute other suitable dwelling units in the future, as more particularly set forth below. NOW, THEREFORE, in satisfaction of the aforementioned conditions of GMP and subdivision exemption approval, Owner hereby covenants and agrees as follows: 18/DD5 -1- 1. The Property shall be and is hereby restricted exclu- sively to use as rental or sale employee housing under and in accordance with the City of Aspen and the Aspen/Pitkin County Housing Authority Employee housing use, rental and sale guide- lines and qualifications in effect on the date of this covenant. 2. The restrictive covenant contained herein shall be deemed a burden upon and to run with the title to the Property, shall be binding upon the Owner, its successors and assigns, and upon all persons or entities having any right, title or interest in and to the Property or any part thereof, and shall inure to the benefit of and be specifically enforceable by the City of Aspen or its designee by any appropriate legal action including injunction, abatement or eviction of non -complying tenancies, unless such covenant is released as set forth below. 3. Release of Covenant. The imposition of the restrictive covenant contained herein, and its enforceability by the City of Aspen, are subject to and conditioned upon the reservation by Owner, its successors and assigns, of the absolute right to substitute appropriately deed restricted dwelling units which are capable of providing adequate housing for no less than 4.5 low income employees, as that term is defined by the Aspen/Pitkin County Housing Authority for the covenant contained herein. Such housing shall be deemed adequate if it meets the rental or sale guidelines for low income housing as established by the Aspen/Pitkin County Housing Authority on the date of this covenant. Substitution shall be accomplished by delivery to the Aspen City Attorney of a fully executed covenant restricting the dwelling units described therein to use as rental or sale employee housing in the same manner as contained herein. Upon receipt of said covenant, the City Attorney shall forthwith cause to be prepared and executed a full and complete release of the City's interest in the covenant contained herein, which release shall be recorded in the records of the Clerk and Recorder of Pitkin County. 18/DD5 -2- cc�� r �t �! BOOK 535 P,�,� 411 4. Except as provided in Paragraph 3, above, this covenant shall not be modified, released or waived in any respect except by written instrument executed by both the Owner, or its succes- sors and assigns, and the City of Aspen. 5. Owner warrants that all persons or entities having any lien, encumbrance, or interest in the property or in any of the employee housing, deed restricted property, substituted herefore shall have consented (or shall have been subordinated) to such deed restrictions and that no occupancy of the project shall be permitted without the written consent (or subordination) of any such person, unless otherwise agreed to in writing by City. IN WITNESS WHEREOF, the Owner has hereunto set his hand and seal as of the day and year first above written. OWNER: HODGE CAPITAL COMPANY, A California Limited Partnership By: Thomas H. Wilson General Parter APPROVED AS TO FORM: ASPEN CITY ATTORNEY By---_.. __ Paul J. Taddune APPROVED AS TO FORM: ASPEN/PITKIN POUNTY HOUSING AUT RITY rect 18/DD5 -3- BOOK 535 f %,i 412 STATE OF CALIFORNIA ) ss. COUNTY OF Subscribed and sworn to before me by Thomas H. Wilson, General Partner, Hodge Capital Company, as General Partner of Hodge Capital Company, a California limited partnership this day of April, 1987. Witness 'my hand and official seal. My commission expires Z-ZS-, OFFICIAL SEAL f SUSAN DUPUIS Notary Public TAAY PMWPPALOFFICE NRk1A AddressCZ6 -:2k-D6ew�/ AIRMY CUNlIISSIOE EXPISFED; 25,1989 �jPCtdSA� t�) CDVNTY �` • 1� 18/DD5 -4- 1 -%•. ,. :1 :. i'� h.,� � �`�` � .l 3 3 3 3 700 EAST HYMAN SUBDIVISION EXCEPTION CITY AND TOWNSITE OF ASPEN, COLORADO 0 N 5� 55 g8.1(to�l d too.00 (A55u..v+1-2c1!. e�2V. &.'7' L_ _ - E- 5, N rt_.S. 14111 oc� 1O14 I S.0 I S.o 50. p0 0 � � 1 o-o0 3c.00 gG. o0 v'alv¢. 1cx,.�{ 3 '¢` � '? 5� O9' � i"vim � 20.00' p L .S. 14111 �Y��Ua,'Y £ CLL�i W W WC "_-- - 1 L, .e _ W — -- w -Va� -A- sk-r-e e�_- ss q a Po W Q.^( -Vf- 5. o' 0 0 r 0 0 1 S"T �54321 0 2 4 Co S 12 1(0 fn Legal Description - Real Property to be Subdivided by Exception Lots K, L, M, and N, Block 104, City and Townsite of Aspen, County of Pitkin, State of Coloradr. Certification of Dedication and Ownership KNOW ALL MEN BY THESE PRESENTS that Hodge Capital Company, being sole owner of all that, real property described above has by these presents laid out, platted and subdivided the same into lots as shown on this plat and do hereby dedicate to the public all rights -of -way and easements shown hereon for the public use. State of Colorado ss. County of Pitkin ) The foregoing instrument was acknowledged before me this day of A.D. 1987 by Witness,my hand and official seal. My commission expires: — o ary a tc Surveyor's Certificate 1, Sydney Lincicome, do hereby certify that 1 am a registered land surveyor licensed under 1! I aw, of the State of Colorado, that this plat is a true, correct and complete plat of the 700 East Hyman Subdivision Exception as laid out, platted, dedicated and shown hereon, that. such plat was made from an accurat.P survey of said property by me and under my ,upervision. it witne,s whereof I have set my hand and seal this day of Sydney Lincicome v igineer Approval City Engineer for the City of Aspen, Colorado, e y approve o u, ivisron xception plat for recording in the Office of the Clerk an_ ? anrder of Pitkin County, Colorado. pate: n'­11ir,; and Zoning Commission Approval 11, r nng and 72�ainq Crmmi the City ^f Aspen, Colorado, does hterkby apornvF ,,f the 700 East Hyman Subdivision Exception to be recorded in - cf the Clerk and Recorder of Pitkin County, Colorado, pursuant to action at its meeting . A.D. 1987. Date: -n �t _y Council Approval Planning and zoning Cridiiinan This plat of the 700 East Hyman Subdivision Exception of Aspen City Council on this day of subdivision exception. Signed this day r.f A.D. 1987. was approved by the City , A.D. 1987, as a Atlr,,>T by LIV LiPrK 30.00, — Glerk and Recor;Fr's Cartlri;Ate This• plat was fi. ''r record in the r;ffice of the Clerk and Recorder at 'clock _.M., this � ay ,�f A.D. 1987, and is recor e in Bank Clerk and Recorder By: -- -- - epu y Leyal Description Lnt 1 (Lots K and L) and L:)t 2 (Lots M and N), Block 104, City and Tcwnsite of Aspen, Colorado. S Lx(7 a LN/ L 5 >r 07L P ( GA, ots K. i �2 O C� E a�L, .SiOGSc 1 Git� "1'oYv�tl,sti of A_,,yerL, C�o(o-rQJ_0 L INES /N SPACE SYDNEY L /NC/COME (L . S. l4HO Bnx 121 CARBnNDALE COLORADO 81623 303-963-3 DATE" 28 Z,Ca-rch,1987 SCALE: