HomeMy WebLinkAboutcoa.lu.su.Larkspur
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Recorded ~_ 2:14 o'clock PM,
Reception # 166567, Peggy E.
4/10/74
Mik1ich, Recorder
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BOOK 285, P~Gl BSB
LARKSPUR SUBDIVISION AGREEMENT
THIS AGREEMENT, made and entered into this~/ day
of 11 a~ _ ,1973, by", bet.,," DONALD FLEISHER,
aHONY DEL VATI and CHARLOTTE DELEVATI (hereinafter referred to
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as "Owners"), DOREMUS/FLEISHER/MASON COMPANY, a Colorado
corporation (hereinafter referred to as "Subdivider"), and TH E CITY OF AS PEN,
COLORADO, a municipal corporation (hereinafter referred to as "City"),
iW,FTNESSETH:
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WHEREAS, Owners hold record title to a parcel of land situate in the
City of As pen, County of Pitkin, State of Colorado, which parcel may be more
particularly described as follows:
Lots K, L, M, Nand 0, and the Easterly 16 feet of
Lot J, Block 27, East Aspen Townsite, and
WHEREAS, Owners and Subdivider have submitted to City for approval,
execution and recording a subdivision plat of the above-described property,
such subdivision to be known and designated as "Larkspur Subdivision"; and
WHEREAS, the subject property is located within an area of the City
zoned AR-I Accommodations - Recreation; and
WHEREAS, the City has (cully considered such subdivision plat, the
proposed condominium development and the improvement of the subject property
shown thereon, and is willing to approve, execute and accept said plat for
recordation upon the agreement of Owners and Subdivider to the matters hereinafter
described, which matters are deemed necessary to protect, promote and enhance
the public welfare; and
WHEREAS, Owners and Subdivider are willing to enter into such
agreements with the City.
NOW, THEREFORE, in consideration of the premises, the mutual
covenants herein contained, and the approval, execution and acceptance of said
subdivis ion plat by the City for recording, the parties hereto hereby agree as
follows:
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Owners and Subdivider shall construct and install the storm drainage
facilities shown on the subdivision plat of Larkspur Subdivision, as well as
whatever additional storm drainage facilities may eventually be recommended for
the subject property by the study now being conducted by Wright-McLaughlin,
prior to submitting an application for a Certificate of Occupancy for the subject
condomin ium project, or by October 15, 1974, whichever first occurs.
2. Owners and Subdivider shall landscape the subject property in
accordance with the landscaping features shown on the subdivis ion plat of Larkspur
Subdivision prior to submitting an application for a Certificate of Occupancy for
the subject condominium project, or by October 15, 1974, whichever first Occurs.
3. City, Owners and Subdivider mutually agree that the sum of
$37$1.DOrepresents four (4'1,) per cent of the current fair market value of the
land described above, and that such amount shall be paid to the City by Owners at
the time construction of any kind is commenced upon said land or on April 15, 1974,
wh ichever first occurs.
4. It is the opinion of all parties hereto that the bonding and escrow
procedures provided for in Section 20-9 of the Municipal Code of the City of
Aspen, Colorado, are not necessary in connection with this particular subdivision,
in light of the relatively low costs involved in complying with the agreements
set forth in paragraphs I and 2 hereof, and the fact that a Certificate of Occupancy
cannot be issued for the subject condominium project until such agreements are
fully performed, and such bonding and escrow procedures are therefore hereby
waived in this instance.
5. The parties mutually understand and agree that the condominium units
to be constructed on the subject property are intended to be owned and OCcupied
by long-term res idents of the area. In order to insure that the aforesaid purpose
is fulfilled, Owners and Subdivider hereby agree that each and every instrument
by which title to one of said units is eventually conveyed shall contain the
folloWing covenant:
"By his acceptance and recording of the instant Deed, Purchaser
agrees that the condominium unit conveyed hereby shall never be
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leased for a period of less that six (6) successive months. This
restriction shall constitute a covenant running with the title to the
subject unit."
Owners and Subdivider further agree that an identical leasing restriction will be
incorporated in the Larkspur Condominium Declaration so as to provide record
notice of such limitation.
6. Upon execution of this Agreement by all parties hereto, City agrees
to approve and execute the final plat of Larkspur Subdivis ion and accept the same
for recording in the real property records of Pitkin County, Colorado, upon pay-
ment of recording fees and costs to City by Owners and Subdivider.
7. This Agreement shall be binding upon the parties hereto and their
respective heirs, personal representatives I successors and ass igns .
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
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and seals as of the day and year first above written.
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Charlotte' e evati I'
OWNERS:
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By
DOREMU IFLEISHER/MASON COMPANY
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res i ent
SUBDIVIDER:
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LARKSPUR
BOX 15000 ASPEN, COLORADO. 81611
PAY TO THE
ORDER OF
City of Aspen
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118
16 Apri 1
82.164
1974 1021
$3,751.00
ven Hundred rift -One and 0:/100 -------- OllARS
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!il,. IRSTNAT.I ONAL BAN~" .
~.. . ASPEN; COt.:ORADO. 816U "
MD+ft", 4%, CaSR:gegf~atigR
d: ~02 ~..O l. 1;1.1: 000 '1.11. 311'
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