HomeMy WebLinkAboutLand Use Case.333 Park Ave.SU-1976-1
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Julie Hane
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BOOK 318 PAGE236
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SUBDIVISION IMPROVEMENTS AGREEMENT
THIS AGREEMENT, made and entered into this ~t:>+t\ day of
o~
, 1976, by and between ALEXANDER MCGOWIN
WOID1AN ,and ADELE R. WORMAN (Subdividers) and THE CITY OF ASPEN,
COLORADO, a municipal corporation (City).
WIT N E SSE T H
WHEREAS, Subdividers hold record title to a parcel of
land situate in the City of Aspen, County of Pitkin, State of Colo-
rado, to wit: Lot 1, Sunny Park North Subdivision; and
WHEREAS, Subdividers 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 "The
Tailings Condominium Subdivision"; and
vffiEREAS, the City has fully considered such subdivision
plat, the proposed 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 Subdividers
to the matters hereinafter described, which matters are deemed
necessary to protect, promote and enhance the public welfare; and
WHEREAS, Subdividers and the City wish to reduce said
agreement to writing.
NOW, THEREFORE, in consideration of the premises, the
mutual covenants herein contained, and the approval, execution and
acceptance of said subdivision plat by the City for recording,
the parties hereto hereby agree as follows:
1. Subdividers covenant and agree to and with the City
that they will affirmatively consent to and join in the formation
of any special improvement district, encompassing all or any part
of the Tailings Condominium Subdivision, that may hereafter be pro-
posed or formed for the construction of street improvements, drain-
age improvements or buried electlbical improvements. Subdividers
hereby waive and further covenant and agree to waive any right of
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BOOK318 PAGt237
protest against the formation of any such district.
2. In the event that the City, at any time or from time
to time, shall construct or install any street improvements, which
improvements service or improve a general area including the lands
within the Tailings Condominium Subdivision, Subdividers agree,
upon demand, to payor reimburse the City for that portion of the
actual cost of such improvements which is properly allocable to
the Tailings Condominium Subdivision, provided, however, that the
City shall be entitled to such payment or reimbursement only if
such improvements are constructed or installed over an area which
:l.ncludes at least the following described minimum area, to-wit:
Both sides of Park Circle for its entire length within
Sunny park North Subdivision;
Subject always to the minimum area requirement set
forth above, the City shall have the right to construct or install
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such improvements in phases or increments, e.g. curbs and gutters
in one year and sidewalks in a subsequent year, and Subdivider shall
payor reimburse the City for each successive phase or increment.
3. The covenants and agreements of the Subdividers herein
shall be deemed covenants that run with the land, shall burden the
land included within the Tailings Condominium Subdivision, and
shall bind and be specifically enforceable against all subsequent
owners thereof, including Subdividers, their heirs, personal rep-
resentatives, successors in interest and assigns.
4. City acknowledges receipt from Subdividers of the
sum of_~ 7~ 1 /s=.. Gi S"' as full satisfaction and discharge of
,
subdividers' obligations under the applicable subdivision ordinance
to pay cash in lieu of the conveyance of land to the City for pub-
li.c us.e purposes.
5. Upon execution of this agreement by all parties hereto,
City agre.es to approve and execute the final plat of the Tailings
Condominium Subdivision and accept the same for recording in
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the real property records of Pitkin County, Colorado, upon payment
of recording fees and costs to City by Subdividers.
IN WITNESS WHEREOF, the parties hereto have executed this
agreement as of the day and year first above written.
@.ou... ~,~ ~ '-ef~ j}L.. . ,. "'Mll CITY
~xander McGowi~orman
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A ele R. Worman
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STATE OF COLORADO )
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COUNTY OF PITKIN )
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The foregoing was acknowledged before me this I~T~ day of
, 1976, by Alexander McGowin Worman and Adele
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otary u ~c
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STATE OF COLOP~DO
COUNTY OF PITKIN
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/J.............AA.02FF0~h,~e ~ f~\JegOing was ack~~~~fore me this~~~J~ of
~ , 1976, by ~.dj....... ,as Mayor and
.4tqtf!j~~A~~dW as City Clerk of the City of Aspen.
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My co~ission expires:
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MEMORANDUM
TO:
Cd"~
Aspen PlaRR:H1g
CtJUNC, /
COlI1llL':~;:)lV.LL
RE:
Planning Staff (HC) p CONdo
(irf
Pug~i~ H9ariRg - TailingsVSubdivision -
1"-11'-''1 I
r .L ~l':m':"i~cu..'y
Plat
FROM:
DATE:
July ]Q, 1976
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This is a FuGlig aeaFiRg te ^onC;rl^r a request forVcondominiumization
of the Tailings Apartments located on Lot 1, Sunny Park North Subdivision.
The project consists of four one-bedroom units (536 square feet each);
five two-bedroom units (1,168 square feet each); and, one two-bedroom
unit (2,100 square feet) which is now the manager's unit. The property
is zoned RMF and consists of 16,837 square feet. The present zoning
would necessitate 17,600 square feet of land to accommodate the exist-
ing density, therefore, the development is non-conforming.
The comments of the Planning Office are as follows:
1. The parking, requirements of the City require 16
spaces. Only 15 spaces are available on the site.
Another space could be created by eliminating a
garden area or cutting the steep hillside. We
feel that given the site constraints, 15 spaces are
adequate.
~ The Fire Marshall, Art Hoa la ecommended
that a fire nt be . ed within 175 feet driving
distance of the b on the entrance side of the
condominiu e hydrant d be provided with
2- 1 . ch outlets and one ~ inc tlet.
~ The comments of the City Engineer are attached.
are concerned that the condominiumizati will
reduc rental housing pool s within the
City, and wis e ap to submit evidence of
a non-detrimen e of the condominiumization
on the lng tenants. Yochums, attorney
the applicant, will address t' issue at the
hearing.
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approval.~sa gatis 1
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The Planning Office recommends P'"'cllllllLl<u)' plat
faatisR sf tho aB8~c ~8RaitiQ~a
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MEMORNADUM
TO: Aspen City Council
FROM: Planning Staff (HC)
RE: Tailings Apartments Condominiumization Subdivision - Final Plat
DATE: October 6, 1976
This is a request for Final Plat approval of condominiumization of the
Tailings Apartments located on Lot 1, Sunny Park North Subdivision. The
project consists of four one-bedroom units (536 square feet each); five
two-bedroom units (1,168 square feet each); and, one two-bedroom unit
(2,100 square feet) which is now the manager's unit. The property is
zoned R-MF and consists of 16,837 square feet. The present zoning would
necessitate 17,600 square feet of land to accommodate the existing
density, therefore, the development is non-conforming.
The comments of the Planning Office are as follows:
1. The parking requirements of the City require 16
spaces. Only 15 spaces are available on the site.
Another space could be created by eliminating a
garden area or cutting the steep hillside. We
feel that given the site constraints, 15 spaces are
adequate.
2. The comments of the City Engineer are attached.
3. Brian Goodhe~m has commented by attached letter on
the effects of this condominiumizatmon on the
existing rental housing supply.
4. The Subdivision Dedication Fee differences will be
resolved by the Council meeting.
The Planning Office recommends Final Plat approval.
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81611
MEMORANDUM
TO:
Hal Clark-(
Mick Mahone~-'J.r/
FROM:
DATE:
October 6, 1976
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Tailings Condominiumization Appraisal
I have nothing in my files regarding the above. If Goodheim and
Biber could agree, I would agree to their compromise.
Please point out to the Tailings Condominiumization group that it
is my office that approves the value in obtaining park dedication
fees, unless they go through the procedure and the ordinance in
terms of their disagreement.
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MEMORANDUM
TO: Mick Mahoney
FROM: Planning Staff (HC)
RE: Tailings CondominiiJmization Appraisal
DATE: October 5, 1976
We are having difficulty resolving park dedication fee for. Tailings
Apartments Subdivision Condominiumization.
The Final Plat is being readied for Council agenda October 12, 1976.
Brian Goodheim has estimated value of property. at $57,000. Their
appraisal estimates $44,000. The difference in dedication fee paid
to the City is $7,876.95 vs, $6,082.40. .
The Tailings appraisor (James Biber) is meeting with Brian to
attempt to resolve the difference.
Any suggestions or comments from you would be helpful.
A copy of the Biber appraisal is in the Planning Office.
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506 E. Main
DIRECTOR OF HOUSING .Jex~~lI:m!ltec . ASPEN. COLORADO 81611 . PHONE, (303) 925.6612
M E M 0 RAN D U:N
September 28, 1976
TO:
Aspen City Council
Hal C lark -----
FROM:
Brian Goodheim
RE: Appraised Value of the Tailings Condominium Property
Having initially reviewed the Tailings preliminary plat as a staff referral,
a preliminary calculation of the park dedication fee was also made.
My preliminary calculations indicate a land value of at least $57,000 which
translates, under the old park dedication ordinance, to a dedication fee of
$7,890.95.
This figure is being presented to you simply for purposes of evaluation of
the applicant!s.appraisal. Please contact me if further information is requi ed.
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WILLIAM D. JOCHEMS
ATTOFlNEY AT 1..AW
811 BLAKE AVENUE
GLENWOOD SPRINGS, COLORADO 81601
TELEPHONE 303-94.5-8.571
POST OFFICE BOX IQl:I
September 27, 1976
Mr. Hal Clark
Aspen~Pitkin County Planning Dept,
Aspen, Colorado 81611
HAND~DELlVERED
Re: The Tailings Condominium Subdivision
Dear Hal:
There was delivered to you on September 22, 1976, an
original and nine copies of a proposed subdivision agreement,
between the Wormans as subdividers of the property referred
to above and the City of Aspen.
This agreement provides for theWormans consent to var~
ious improvements in the area and for their payment to the
City of Aspen in lieu of dedication of park property.
Mr. Worman has had an appraisal made of the property by
James A.. Biber, a MAl appraiser. It is also delivered here~
with and concludes that the real property without the improve-
ments is worth $44,000.00.
We think we have done everything required of us and look
forward to having the matter on the City's agenda for final
hearing on October 4, 1976.
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William D. Jochems
WDJ:vlp
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MEMO
TO: HAL CLARK
FROM: DAVE ELLIS ~
RE: TAILINGS CONDOMINIUM SUBDIVISION - FINAL PLAT AND
AGREEMENT
DATE: SEPT. 27, 1976
The engineering department finds the final plat submitted
9/23/76 to be ready for council approval. The agreement
is satisfactory except for some modification to the mini-
mum area requirement in paragraph 2 and the deletion of the
last sentence in paragraph 2. If you would have the owner's
attorney contact me I can give him the above changes.
DE/pab
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MEMORANDUM
DATE: September 16, 1976
TO:~~#Clark
FRO~+Mandra M. Stuller
RE: Mine Tailings Conversion
Hal,
Bill Jochems called wanting to know whether a sub-
division agreement is needed for the Tailings Condominium
conversion, inasmuch as there will be no escrowing of funds
or postponed construction of improvements. I must agree with
him that, at least with the present posture of the proposal,
there seems no need for an agreement.
On review of Chapter 20, I note that an agreement is
required only for an escrow (Sec. 20-16(c) (1)) and for delayed
construction (Sec. 20-16(f)), and there exists no general
requirement absent need under these provisions. Consequently,
I think we can proceed without an agreement and draft one if
Council imposes any conditions that should be of record.
Two additional notes:
1. In the first reading of Ordinance 49 (Changes
to "0" district) I deleted the requirement of four
parking spaces for restaurant uses inasmusch as (as
quite correctly noted by Bill Dunaway) this regulation
was never noticed for the P&Z public hearing.
2. Please put on the 21st P&Z meeting, discussion
of the six month leasing provision and condominium
conversion regulation (if time).
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DIRECTOR OF HOUSING . PJC~:S~X)OO1l!1lC . ASPEN. COLORADO 81611 . PHONE, (303) 925-6612
MEMORANDUM
September 3, 1976
TO: City of Aspen Planning Office
City Attorney /
City Planning and Zoning Commission
City Council
FROM: Brian L. Goodheim l)
RE: Tail ings Condominiums
At your request I have reviewed the profile of the proposed purchasers of.
the Tailings Condominiums. My review of the tenants indicates that they
are primarily local residents purchasing for purposes of a primary resi-
dence.
The neighborhood and location of the Tailings are further evidence that th.s
condominiumization will result in a minimum of tourist infusion into the
area.
I continue to have reservations about the overall effect of the condominiu i.-
zation of existing apartment buildings and the effect which this has on th
long term availability of housing for locally employed persons of moderate
income. Each Thursday I read the Aspen Times and see advertisements from
realtors proporting to specialize in condominium conversions.
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PUBLI C NOT! CE
Notice is hereby given that a public hearing will be held on August 3, 1976
before the Aspen Planning and Zoning Commission at 5:00 P.M. in the
City Council Chambers to consider the Preliminary Plat of the Tailings
Condominium Subdivision located on Lot 1, Sunny Park North Subdivision.
The application is to condominiumize an existing ten (10) unit apart-
ment building. A copy of the proposal may be examined in the City/
County Planning Office during normal working hours.
Published in the Aspen Times July 29, 1976
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TAILINGS
Notices sent to following:
Jack Jenkins
Box 588
Aspen
Dona 1 d Randa 11
Box 427
Palm Beach, Florida
Allan Goldstein
571 Lyell Avenue
Rochester, N.Y. 14606
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(Mailed 7-23-76)
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WILLIAM D. JOCHEMS
ATTORNEY AT LAW
611 BLAKE AVENUE
GLENWOOD SPRINGS. COLORADO 61601
TELEPHONE 303"94s.a!571
POST OFFICE BOX t9!5
July 16, 1976
Mr, Hal Clark
The Aspen ~ Pitkin County Planning Dept,
130 S. Galena
Aspen, Colorado 81611
Re: Worman ~ Taillings Condominiums
Dear Hal;
Today :r have written to Mr, Worman and informed him
that the Planning Commission at its meeting on the.evening
of July 20, 1976 will set his application for preliminary
plat approval for hearing,
:r will call you on the morning of July 21, 1976 to get
the date and then inform Mr, Worman.
~"
William D. ochems
WDJ/vp
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MEMO
TO: HAL CLARK
PLANNING OFFICE
FROM: DAVE ELLIS ~
CITY ENGINEER
DATE: July 9, 1976
RE: Tailings Condominiums - Preliminary Plat Review
The preliminary plat is generally quite adequate.
There are a few notations on the attached plat.
We would like the Holy Cross easement identified
by book and page and would like to see the public
utility easement on the northeast side increased
from five feet to ten feet in width.
For final plat submission several changes in the
declaration and approval language will be re-
quired and a subdivision improvement agreement
will be required. The agreement should include
the normal commitments for street paving, curb,
gutter, sidewalk & drainage improvements and
the open space cash payment.
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SUBDIVISION PLAN CHECK FORM
Mailing Date:
June 25, 1976
Subdivision:
Tailings Preliminary Plat
Agency:
Aspen Fi re Oi strict
The enclosed plat is provided so that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than July 20, 1976
If you have no comments please refer this form back to us making note
that you have no comment at this time.
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SUBDIVISION PLAN CHECK FORM
Mailing Date:
Subdivision:
June 25, 1976
Tailings Preliminary Plat
Agency:
Electric Department
.
The enclosed plat is provided so that each utility company and public
...agency may inspect the plat and the site, making comments, concerning
the 'placement of easements, etc. ,and where necessary sketching recommended
alterations on a copy of the plat.
...Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than July 20, 1976
Ifxyou~have no comments please refer this form back to us making note
that you have no comment at this time.
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DATE RECEiVED
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DATE R:::?LiEO
SUBDIVISION PLAN CHECK FORM ROUTE
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Ma il i ng Date:
Subdivision:
June 25, 1976
Tailings Preliminary Plat
Agency:
Mountain Bell
The enclosed plat is provided so that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than July 20, 1976
If you have no comments please refer this form back to us making note
that you have no comment at this time.
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SUBDIVISION PLAN CHECK FORM
Mailing Date:
June 25, 1976
Subdivision:
Tailings Preliminary Plat
Agency:
Rocky Mountain Gas
The enclosed plat is provided so that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc. necessary sketching recommended
alterations on a copy of the
Your comments and any.
the. City/County
If you have no
you have no
be returned to
20, 1976
ibackto us making note
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SUBDIVISION PLAN CHECK FORM
Subdivision:
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Mailing Date:
Agency:
The enclosed plat is provided so that each utility company d public
agency may inspect ,the plat and the site, making cormnents, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
..
Your comments and any correctionSJmade 'on the plat must be returned to
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the City/County PlanningOffice-:no.lllter;",than July 20; 1976
If you have no comments Plea:serei;r,jt~~~orm back to us making note
that you have no comment atthi'i.~;1~~. ,,;"fI.'
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SUBDIVISION PLAN CHECK FORM
Mail ing Date:
June 25, 1976
Subdivision:
Tailings Preliminary Plat
Agen cy :
Fi re ~larsha 11
The enclosed plat is provided so that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than July 20, 1976
If you have no comments please refer this form back to us making note
that you have no comment at this time.
!IY~RI1f/;- ..rr/(;J(/t.CI 8e F'teoV/O~L) 'II//7I-II/oJ /1S' I?te/v,ioJ~
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21 June 1976
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Mr. Hal Clark
City of Aspen Planning Office
Aspen, Colorado 81611
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Oear Hal:
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Handcarried herewith please find enclosed Twenty-one (2l)
presentations of Alexander McGowin and Adele R. Worman to The
City of ASpen for the Tailings Condominium Subdivision.
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Additionally, please find cheques attached to this letter
for fees required in accordance with section 20-20, paragraph
2.
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We are fully cognizant tha t this presenta tion represents
a preliminary plat. However, with the exception of a statement
of subdivision and dedication to public use or fees to meet the
requirements, we trust that the preliminary puocesses will be
correlated so as to reflect a final aPproval.
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Thank you again for ~ur courteous attention to our project.
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Y~ry truly yours,
\Y.J..u..~~ Tt , \..
A.McG. Woxynan
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A McGW/l
PLEASE NOTE OUR NEW STREET DELIVERY ADDRESS:
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180 Park Circle
TH-6
Aspen, Colora do 81611
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WILLIAM D. JOCHEMS
"nORNItY AT LAW
811 BLAKE AVENUE
GLE,NWOOD SPRINGS, COLORADO BleOI
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TELEPHONE 303.g"'~.8l571
POST OFFICE BOX lli!5
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June 18, 1976
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The Aspen-Pitkin
130 South Galena
Aspen, Colorado
Planning
Street
81611
Department
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Attention: Hal Clark
Re:. The Tailings Condominium
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Gentlemen:
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The Tailings Condominium is an existing ten unit apart-
menthouse located in the Sunny Park North Subdivision. We have
previously submitted to your department, the Planning Commission
and the City Council a conceptual presentation and the material
we are submitting herewith is in satisfaction of the preliminary
plat procedure and hopefully most of the final plat procedure.
We are submitting a five sheet map prepared by Johnson-
Longfellow and Associates, Inc., Registered Surveyors, of the
building and the property involved, which map shows on Sheet 1
the names and addresses of the adjacent landowners. We are also
submitting a copy of the proposed Condominium Declaration.
Since this building has been built and occupied for over
three years and a building permit was issued in 1972, and since
no additions or changes other than changes in the method of own-
ership are sought by this application for subdivision, we assume
you have much of the information which would be provided for a
new building such as information concerning the utilities,
streets and alleys, soil stability, drainage plans, but we will
provide any information which you deem necessary and not provi-
ded herewith. Please call either Mr. Worman or me for any addi-
tional information.
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ADDENDUM
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Reference:
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Encroachments-Sheet One of 5-the Tailings Condominium Subdivision
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This addendum explains the rock cluster~ that extend approximately
one to one and one half feet. ~nto the street area-Park Circle.
At the completion of constrootion. a temporary berm was plowed for
run-off purooses and on-street parking. A garden light WaS install d
for visual observance during the night and snow storms. The flag p Ie
has a cemented base but none of the items are of a permanent natur .
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This work does enhance the street and in no way impairs traffic.
We respectfully.r8Quest that this excroachment remain intact until
such time street improvements are put in force.
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June 8, 1976
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Mr. Alex M. Wonnan
P. O. Box 3442
Aspen, Colorado 81611
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Dear Mr. Wonnan:
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It is our understanding that the City of Aspen has requested
advance agreement to enter into the- condominium "subdivision II or
mapping of the Tailings Apartments into Condominiums.
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To the extent that it is necessary Columbia Savings and Loan
Association would approve your application for such a subdivision.
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It is our understanding that this approval in no way impairs
or reduces our security for the loan to you.
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Alan W. McPherson
Vice President
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Columbia Savings and Loan Association 0 Home Office: 16t~ at Broadway 0 (303) 292.9900 0 Denver. Colorado 80202
Member Fede;al Home loan Bank S~ .. Member Federal Savings and Loan Insurance Corporation" An MeA FinanCial Company
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MEMORANDUM
TO: Aspen City Council
FROM: Planning Staff (HC)
RE: Conceptual Subdivision - Tailings Apts. Condominiumization
DATE: May 6, 1976
This is an application for conceptual approval of the condominiumization
of the Tailings Apartments on Lot T, Sunny Park North Subdivision
on Park Circle Dr.ive. The property is zoned RMF and consists of
16,837 square feet. The development consists of four one-bedroom
units (536 square feet each); five two-bedroom townhouse units
(1,168 square feet each; and, one two-bedroom townhouse unit (2;100
square feet) which is the manager's unit. The present zoning would
necessitate 17,600 square feet of land to accomodate the existing
density, therefore the development is technically non-conforming.
The comments of the Planning Office are as follows:
1. The parking requirements .of the City require 16
spaces. Only 15 spaces are available on the site.
Another space could be created by eliminating a
garden area or cutting the steep hillside. We feel
that given the site constraints, 15 spaces are
adequate.
2. We have physically inspected the development site
and are impressed by the general condition and
management of the building.
3. We are concerned that the condominiumization will
reduce the rental housing pool of units, and wish
the applicant to submit evidence on the effect of the
condominiumization on the existing tenants.
4. Sidewalk, drainage and paving concerns will be
addressed at the preliminary plat stage.
5. With the above considerations in mind and those of
the City Engineer, we recommend conceptual subdivision
approva 1.
On May 4, 1976, the Aspen Planning Commission recommended conceputal
subdivision approval of the Tailings Condominium, conditioned upon the
above listed comments of the Planning Office and City Engineer.
A map of the project will be available at the Council meeting for your
inspection.
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MEMO
TO: Hal Clark
FROM: Engineering Staff (Tom Jones)
DATE: April 28, 1976
RE: Tailings Condominium Conceptual Review
It appears that the applicant is not aware that this
property is a mandatory P.D.D., and must be reviewed
under section 24-8, Ordinance No. 71, Series of 1975
of the Aspen Code. Since this is a condominimization...
of an existing building, section 24-8.7B would not
apply, but subsections C, D, and E should be addressed
by the applicant.
The number of parking spaces shown,:ten .(10), is less
than the sixteen (16) required by code. The developer
indicates five (5) m.ore spaces could be added, but it
is not clear where they could be added without
eliminating some of the very limited usable open
space on the site. The predominate site feature has
not been shown. There is a steep, rocky slope
adjoining the four parallel parking spaces on the
northeast corner of the site. This corner is
essentially unusable, and could present a danger to
parked cars from falling rocks. Possibly the parking
could be shifted towards the building, leaving the
driving lane next to the slope. This is the way
vehicles are currently parked at the site. In
addition, a concrete slab, approximately 10 feet
by 20 feet, has been constructed southeast of
"Stairs Cu. Four verticle storage spaces have been
constructed on the southeast side of the slab. This
should be added to the sketch plan so that we can
be sure it is entirely on the lot. One final item
is that the title policy submitted is 3 years out
of date, and should be updated, although we foresee
no title problems.
We see no serious engineering problems with the site,
and would recommend conceptual approval subject
to further discussion with the developer on the
items mentioned above.
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James R. Biber
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APPRAISAL OF
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ALEX WORMAN CONDOMINIUM SITE
ASPEN, CO.
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April 26, 1976
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APPRAISAL REPORT
PREPARED BY
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SUITE 714
VALLEY FEDERAL PLAZA
GRAND JUNCTION. COLORADO 81501
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JAMES R. BIBER
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APPRAISAL OF
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ALEX WORMAN CONOOMINIUM SITE
ASPEN, CO
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Apri I 26, 1976
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By: James R. Hi ber
Suite 714
Va lIey.Federal PI aza
Grand Junction, CO 81501
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JAMES R. BIBER
<=Roat E.tau clfptHal... - COfUv.tfant
SUITE 714
VALLEY FEDERAL PLAZA
GRAND JUNCTION, COLORADO 81501
303 - 245-0697
,.1I-(R'C4-\o
SOC"'TV
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MANAGE"'"
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May 24, 1976
Mr. A. M. Worman
Box 3442
Aspen, CO 81611
Dear Mr. Worman:
Pursuant to your request ~or an appraisal of the Alex Worman Condominium
site, locate<iin Aspen, Colorado, attached hereto is data gathered during
my investigation and upon which, in part, my opinion of value is based.
It is my opinion. that the Present Market Value of the subject site as
though vacant and alia il abl e for use as Of April 26 , 1976 was.:
FORTY FOlJR THOlJSANDOOLLARS
($44,000.00)
In this aPPraisal t~ere has<been noinvest.igation of any liens which
mayor may not be in existence. My appraisal has to do. only with the estimate
of value.
Retained in our files are copies of worksheets used in the preparation
of this report and WhiCh are available for your inspection.
RespectfullY submi tted,
,JRB/gf
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American Right of Way,Association
American Society of Farm Managers & Rural Appraisers
Letter of Transmittal
Qualifications, Stipulations, Certification
Identification of the Property
Legal Description
Purpose of the Appraisal
Date of ~ppraisal
Property Rights Appraised
Area Data
Neighborhood Data
Site Description
History
Highest and Best Use
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About the Apprai sa 1 Process
Land Value Estimate
Final Value Conclusion
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Location Map
Plot Plan
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TABLE OF CONTENTS
PAGE
1
1
1
1
1
2
5
5
6
6
VALUATION SECTION
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8
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ADDENDUM
Exhibit I
Exhibit II
JAMES R. BIBER
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JAMES R. BIBER
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JAMESR. BIBER - QUALIFICATIONS
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PROFESSION:
EDUCATION:
Independent Real Estate Apprai ser
High School graduate, courses at Mesa Coll ege in Grand
Junction and University of Nebraska, as well as some
college during mil itary service; real estate courses
taken include Introduction to Real Estate, Real Estate
Law I; Appraisal FA, A.LR.E.A., Appraisal I-B,
A;LR.LA., Appraisal II, A.LR.E.A. and Appraisal IV,
A. L R. E .A.
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INSTRUCTOR:
University of Colorado - teaching real estate appraisal
courses
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REAL ESTATE
EXPERIENCE:
Became a licensed real estate salesman in the State of
Colorado in JilnuarY 1969. Have. sold and dealt with
most all types of real estate.
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At the same time, owned and developed 2 1 arge develop-
ments. One was a residential subdivision in Mesa
County, Colorado ,near Grand Junction. The other was
a residential development at Crested Butte, Colorado.
Both developments are nearly sold out at this time.
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Prior to 1969, was Statiqn and Sales Manager for
Mountain States Broadcasting Corporation fOr 8 years.
'prior to 1960, was self-employed rancher and cattle
feeder in Southwest Nebraska , except for 5 years
military duty during the Korean War.
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Recreati ona 1 de 'Ie 1 opment, farm and ranches, feasi bi 1 iti es,1
apartment buildings, condominiums , office buildings, J
restaurants, subdi vi si ondevel opments, mobil e. home parks,
spec i a 1 purpose bu i 1 dings, motels and hotels and reta il
stores, gravel and coal deposits.
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TYPE OF APPRAISAL
EXPERIENCE:
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ORGAN IZATI ON
MEMBERSHIP:
Certifi.edReview Appraiser with the National Association
of Review Appraisers (C.R.A.)
Candidate forM.A.Ldesignation, American Institute of
Real Estate Appraisers
American Society of Farm Managers and Rural Appraisers
Ameri can Ri ght of Way Association
National Association of Real Estate Boards
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LOCATIONS OF WORK
COMPLETED:
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EXPERT WITNESS:
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SOME APPRAISAL
CLIENTS HAVE INCLUDED:
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JAMES R. BIBER
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Aspen '. Dill on, Gl enwood Springs, Eagle ,Grand Junction, I
Craig, Meeker, Montrose,Purgatory,.Snowmass, Steamboat
Springs, Crested Butte, Telluride, Winter Park, Vail, 'I
Boulder, Pagosa, Bayfield, Durango, Ouray, Pueblo - all
in Colorado. In addition, Moab, Utah and Sun Valley, Idah
Qua 1 ifi ed as an expert wi tness in several Di stri ct court~
in Western Colorado, as well as United States District
Court in Denver, Colorado
McCullough Corporation
Aspen Construction Corporation
Muer Corporation
Eaton International Corporation
Foote Mi nera 1 Company-
Industri.al Development Corporation
Mountain. Fuel Supply Company
.0& R GW Railroad
Snowmass American Corporation
Sun. Valley Corporation
. Hyder Construction Company
Tell uride Company
Wes tern Communi ty PI anners, I nc.
City of Grand Junction
City.of GlenwoodSprings
City of Aspen
Grand Juncti on School District
Montrose School District
Col oradoUte El ectri c Assoc.i ati on
Ute Water iConservancy.District
HolyCross El ectric Associ ati on
Mountain Bell
Colorado Mountain College
Colorado Alpine Campus
Western Slope Gas Company
First National Bank - Chicago
First National Bank -GrandJunction
First National Bank - Aspen
First National Bank - Glenwood Springs
United States Bank - Grand Junction
Bank of America
American National Bank
Mesa Federal Savings.and Loan Association
Valley Federal Savings and Loan Association
Modern Savings and Loan
Mutual Savings and Loan
Mesa Verde Savings and Loan Association
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APPRAISAL CLIENTS (Con I t)
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COLORADO COUNTiES
WHERE WORK HAS BEEN
COMPLETED:
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JAMES R. BIBER
First FedgralSavingsand Loan of Craig
Majestic Savings and Loan Association
Western Federal Savings and Loan Association
Columbia Savings and loan Association
Delta Savings and Loan Association
Pioneer Savings and Loan Association
Numerous attorneys, real estate offices and
individual property owners in Western Colorado
Mesa
Moffat
Routt
Grand
Boulder
Rio Blanco
Gal'field
Eagle
Summit
Pitkin
Delta
Gunnison
Montrose
Ouray
San Miguel
Hinsdale
Delores
Montezuma
La Plata
Archuleta
Pueb 1 0
Lake
San Juan
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JAMES R. BIBER
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CO~nNGENT AND LIMITING CONDITIONS
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The certificati on of the Appra i ser appearing in thi s appra i sal report is
subject to the following conditions andtosuch,other specific and limiting
conditions as are set forth brthe Appraiser on the report.
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1. The Appraiser assumes no responsibil ity for matters of a legal nature
affecting the property appraised or the title thereto, nor does the Appraiser
render any~ opinion as to the title, which is assumed to be good and marketable.
The property is appraised as though under responsible ownership.
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5. The Appra.iser assumes that, there are no hidden or unapparent conditions
of the property, sUbsoil,orstructures which would render it more or less
valuable. The Appraiser ass~mes no responsibil ity for such conditions or for
engineering which might be required to discover such factors.
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2. The sketch inthis report is included to assist the reader in visual iz-I
ing the property, and the Apprai sE!rassumesnoresponsi bi 1 ity for its accuracy. 'I
The Appra i se.rhas made. no survey of the property.
3. The Appraiser is not required to give testimony or appear in court I
be.cause of having made this appraisal, with reference to the property in questio~,
unless arrangements have been previously made therefor. I
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4. The. distribution of the total valuation in this report between land and~
improvements applies OnlY. under theexi sti ng program of uti 1i zati on. The separa e
valuations for land and building must not be used in conjunction with any other
appra i sa 1 and are inv.alid if so used. i
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6. Information, estimates, and opinions furnished to the Appraiser and
contained in this report were obtained from sources considered reliable and
believed to be true and correct. However, no responsibility for accuracy of
such items furnished the Appraiser can be assumed by the Appraiser.
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7. . Disclosure by the Appraiser of the contents of this appraisal report is
subject to review in accordance with the bY-laws and regulations ,of the profes-
sional appraisal organizations with which the Appraiser is affiliated.
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8. Neither all nor part of the contents of this report, or copy thereof
(conclusions as to property value, the identity> of the Appraiser, professional
designations, reference to any professional appraisal organizations, or the
firm with which he is connecte~) shall be used for any purposes by anyone but
the mortgagee or its assigns and Pri.vate Mortgage Insurers ,consultants, profes-
sional appraisal organizations., anY state. orfederallychartered bank, any
department, agency or instrumenta,litYOf the)lnited States or of any State or
of the Di stri ct ofColumbi a, without the previous written consent of the
Appraiser, except upon demand by the MortgaQor; nor shall it be conveyed by
anyone to the public through advertising ,publ i c relations, news, sal es, or
other media, without the written consent and approval of the Appraiser.
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9. On all appraisals Subject to satisfa~tory completion, repairs, or
alterations, the appraisal report and value conclusion are contingent upon
completion of the improvements in a workmanlike manner.
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CERTIFICATION
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The undersigned does hereby certify that, except as otherwise
noted in this appraisal report:
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1. :r have noJpresent o!.'contemplated future interest in the
real estate that is the subject of this appraisal repOrt.
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2. I have noper~onaliriterest<or bias with respect to the
subject matter of this appraisal report or the pa......-ties involved.,
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3., To the best of my knowledge and belief the statements of
fact coni;ained in this . appraisal report, upon which the analyses,
opinions and conclusionshereirt are based, are true and correct.
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4., This appraisal report sets forth all of the limiting
conditions (imposed by the terms of my assignment or by the 1).!ldersigned)
affecting the analyses, opinions and conclusions contained in this
report.,
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5. This appraisal report has been made in conformity with .and is
subject to the. requirements of the Code of Professional Ethics and
Standards of Professional Conduci; of the American Institute of Real
Estate Appraisers.
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6., No other than the undersigned prepared the analyses,
c~nclusions and opinions concerning real estate that are set forth in
this appraisal report.,
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Disclosure .ofthe contents of this appraisal report is governed
by the By..Laws and Reg,uations of the American Institute. of Real
Appraisers of the National Association of Real Estate Boards..
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Neither all nor any part of the contents of this report
(especially any conclusions as to value,. the identity of the appraiser
or the firm with which he is connected, or any reference to the
American Institute of Real Estate Appraisers or to theM.A.I. or
R.M. designation) shall be dissemi:nated to the public through
advertising media,. public relations media, news media, sales media
or any other]?Ublic means of commun.i<::ationwithout prior written
consent and approval of the undersigned..
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IDENTI FI CATI ON OF THE PROPERTY
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The property appraised in this report consi.sts of a tract of land
containing 16,837 square feet of land, more or less. The property is
ownedibyAlex Worman of Aspen, Colorado. A map in the Addendum shows the
1 ocati on of the subject property.
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LEGAL DESCRIPTION
The property is legally described as Lot 1, Sunny Park North
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Subdivision, Aspen, Pitkin County, Colorado.
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PURPOSE OF THE APPRAISAL
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The purpose of the appraisal is to estimate the present market value
of the site as though vacant and available for use as of the date of
apprai sa 1 .
Market value is defined as: "The hi ghest pri ce estimated in terms
of money which a property will bring if exposed for sale in the open
market, a 11 owing a reasonabl e time to find a purchaser who buys with
knowledge oLall the uses to which it is adapted and for which it is capable
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of being used."
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DATE OF APPRAISAL
The date of apprai sa lis as of April 26, 1976.
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PROPERTY RIGHTS APPRAISED
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The propert.Y>ri.ght or estateappra i sed is the fee simpl e estate.
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GOVERNMENT I
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City: I
Pitkin County became a governing body in 1961, and operates under the I
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general law as spelled out in the Colorado Constitution. The county encompasse~
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one municipality, the City of Aspen. I
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Aspen progressed from an incorporated town to a city in 1969. On January I
6, 1970, the cit.Y voted to reorganize under the Home Rule Amendment in COlorado'js
Constitution, permitting the city to. write its own charter, establishing the I
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form of government it feels most suitable to its needs. A charter was drafted
by 21 delegates and accepted by the el ectorate on June 16, 1970.
Under the provisions of the charter, a basic CouncihManager form of
Government was established The elected council is the legislative and
governing body of the city. The council ,composed of 7 members including the
Mayor, appoi ntstheCity Manager; he is the admini strative power and serves
the convenience of the council.
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In 1970, the\lotersof the City of Aspen approved an additional 1% city
sa 1 es tax, to fi Rance the purchase of open space.
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County:
Although the county is an important unit of State Admi ni strati on, it is
regarded chiefly as a unit of local government. There are 3 Commissioners,
elected by districts. Six other electedcountyiofficials are: The Clerk
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and Recorder, Treasurer, AsseSsor, Sheriff, Surveyor and Coroner.
INCOME
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Pitkin County and Aspen's main income is the tourist industry. This
means seasonal income periods, a five-month ski season (Thanksgiving to
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Cropland constitutes 15% of the private .land in the county, or approximate1yl
16,211 aCres (2.6% of the area of the county). Hay and livestock are the I
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Easter), summer season (JUne 15 toSeptemb~r 1), fall season (September 1 to
October 30). The tourist fluctuations affect all Aspen business, including
services and professi ons.
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Main business months with. highest occupancy and
dollar revenue are February, March, July, August and a tWo-week period over
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the Christmas holidays.
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Small industry generally consists of hand crafted items.
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primary agricultural products.
Mining is chiefly coal, sand,grave1 and gas.
AIRPORT
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Sardy Field - - Aspen Airport, located 4.5 miles from Aspen, is served
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daily by Aspen Airways arld Rocky Mountain Airways.
Monarch Aviation has an
offi ce at the a irport for charter servi ceand air frei ght.
Altitude is 7,730
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feet, runway 1 ength is 6,520 feet , runway width is 80 feet.
Maximum aircraft
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wei ght is 35,000 pounds with dual wheels, and 25,000 pounds with si ng1 e wheel s.
There are plans to add a 4~-inch overlay to the runway and taxiway this
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summer, increasing the gross wheel weight to 55,000 pounds on dual wheels.
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new water system is also to be installed to increase fire safety.
The Aspen Airport is iJniqueinternationally in its close proximity to
...
the ski slopes, making Aspen one of the most easily accessible ski areas in
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the world by air.
BANKS
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There are three banks in Pitkin County; Aspen Industrial Bank, Bank of
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Aspen, and First National Bank of Aspen.
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JAMES R. BIBER
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PUBLIC HEALTH
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,
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Touchstone Clinic is a community sponSored Mental Health clinic started
in November 1969, and is supported by donations, R.S.A. funds, patient fees,
and by the School Board for giving assistance to teachers, counselors and
students when needed.
!""
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Mountain Rescue is a completely volunteer group of approximately 25
....
ment, who main purpose is to rescue and save under any conditions, anywhere,
at any time of the. year. The group receives donations and County funds,
!""
most expenditures are for rescue equipment.
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Appraisal of Alex Wormah CondominiulI1Sibi; Aspen, co
JAMES R. BIBER
...
,..
NEIGHBORHOOD DATA
...
The neighborhood in which the subject property is located is in the
north-east portion of Aspen, which is primarily a residential area of Aspen.
The neighborhood consists of a harmonious grouping of single-family residences,
apartment houses, .and condominium units.
'"'
'"'
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All utilities offered.by the city of Aspen are available and in use
within the nei ghborhood, whi ch i ncl udesnatural gas, city water, ci ty sewer,
...
and electricity.
The market for real estate within the neighborhood is good and lenders
do not hesitate to make loans on properties within the neighborhood. No
detrimenta 1 infl uences are evident whi ch might produce economi c obsolescence
to properties within the neighborhood. In general, the neighborhood is a
good residential district, and an analysis of the neighborhood would indicate
that real estate values within the neighborhood should remain stable for the
foreseeable future..
...
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SITE DESCRIPTION
...
,..
The subject site is nearly rectangular in shape, and contains a totaJ
land area of 16,837 square feet, more or less. The property is located in
the north-east portion of Aspen and north and east of the Roaring Fork River.
The site slopes from .eastto. west affording excellent natural drainage.
All utilities offered by the city of Aspen are available and in u.se on
the site which includes nat.ural gas, public sewer, water and electricity.
The site has been extensively landscaped with railroad tie planters,
parki ng curbs, s i dewa 1 ks, shrubbery, and off street parking. No nusances or
hazards are evident on the site. A plat of the site together with the location
of the improvements on the site will be found in the Addendum.
...
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5
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Appralsal or Alex worman LOnOomlnlum ~ltel Aspen, LV
JAMES R. BIBER
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HISTORY
,-.
The subject site was purchased on June I, 1972, by Mr. Worman.
Construction began shortly afterwards and construction of the improvements
was completed in 1973.
...
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HIGHEST AND BEST USE
...
Real estate is valued in terms of its highest and best use, and can
be defined as that use which at the time of appraisal is most likely to
produce the highest net return. to the land and improvements over a given
period of time.
An analysis of the site would indicate highest and best use of the
site would be for multi-family development.
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JAMES R. BIBER
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VALUATION SECTION
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JAMES R. BIBER
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flppralsal Of Alex WormanCb.ndbrnihiumSite, ASpen, CO
JAMES R. BIBER
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,...
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condominium development <IS compared to say, three years ago. There have been i
three sales of comparable land in the immediate vicinity of the subject propertyl,
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Thi s tract I
When appraising vacant ,l<lnd or land as though vacant, only the
market data approach is used.
...
LAND'VALUE ESTIMATE
...
An investigation of the area for comparable land sales which were
vacant reveals there has not been too many sales of land for condominium use
...
recently.
Condominium development has slowed down drastically in the Aspen
...
area, and there is not near the volume of sales of condominium sites nor
...
...
some of which is adjacent to the subject site. . These are as follows:
SALE #1
...
Larson sold to C.V. Associates, a tract of land idehtified as part of
...
Lot 4 and Lot 6 in Sunny Park Subdivision in May, 1975 for $30,000.
,....,
of land cqntained8,680 square feet of land area, and the purchase price
breaks down to about $3.46 per square foot. This transaction is recorded in
Book 298, Page 887, Pitkin. County Clerk and Recorders Office.
,...
SALE #2
...
Hyde sold to Jenkins, Lot 2, Sunny Park North in July, 1975. The
purchase price was $46,000 and the site contained 15,894 square feet of land
area. The purchase price on this tract breaks down to $2.89 per square foot.
This transaction is recorded in Book 300, Page 623, Pitkin County Clerk and
...
...
Recorders Office.
...
'SALE #3
...
Hyde sold to Jenkins,Lots 3 and 4, Sunny Park North, for $80,000 in
December, 1975. Lot #3 contained 18,382. square feet of land area and Lot #4
...
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8
~
Appraisal of Alex WQrman Condominium Site, Aspen, CO
JAMES R. BIBER
...
~
~
contained 1~,186 square feet of land area. The purchase price would break
down to $40,000 per lot or based upon the total square footage, $2.38 per
square foot.
Sales #2 and #3 are more near.ly the s,ame size as the subject site,
and would indicate a value of from about $40,000 to $46,000 on a per site
basis. The range of value would be from $2.38 per square foot to $2.89 per
square foot.
The subject site was purchased in 1972 for $44,000 which would break
down to about $2.61 per square foot. There are also more vacant lots in
Sunny Park North which are available for purchase at the present time at
about the same price. The most recent market data would indicate that land
values have not changed much for the past three years, and based upon a
comparison, it is my opinion the subject site has a present value of about
its original purchase price of.$44,000. This est.imate is supported by the
most recent sales activity in the immediate neighborhood.
It is my opinion the indicated land value by comparison is $44,000.00.
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FINAL VALUE CONCLUSION
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As a result of my appraisal and analysis, it is my opinion the fair
market value of the subject site as though Vi\cantand ava.i1able for use as of
,..
April 26, 1976 WaS:
-
FORTY FOUR. THOUSAN.D DOLLARS
($44,000.00)
...
Respectfully submitted,
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MEMIl9ANDUM
TO: Dave Ellis
FROM: Planning Staff (HC)
RE: Tailings Condominiums Sketch Plan
DATE: April 23, i976
';;l
IDtached please find two sets of applications for Sketch Plan
approval of the condominiumization of the Tiilings Apaatments.
Sketch Plan fee has been received - $123.14.
A review date of May 4, 1976, has been set for the City Planning
and Zoning Commission.
,-
,-,
22 A.prU 1976
I'Ir. Hal Clark
Ci ty of Aspem Planning Office
Aspen, Colorado 1976
Dear Hal:
Handcarried herewith please find enclosed ten (10)
conceptual presentations prelilented by Alex 1'1. & Adele R. Worman
to subdivide an existing aPartment building into condominiums.
Also, please find attached to this letter Cheques representing
deposi ts in accordance wi th section 20...20 (iI) & (il2).
Thank yo. very much for your courteous attention and ilssistanc~
We trust that this initial step contains all of the required
information for conceptual approval.
Very truly yours,
A .l'IcG. Worma'"
Al'lcGW/i
Box 3442
Aspen, Colorado 81611
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~ONCt.PTLAL PRE.st:rIlTATlON OF ALEX 1'1. WORf'\(\N
AfvO ADt.Lt. R. WORi'"\!\N TO THE CITY OF ASPEN
FOR THE TA lUNGS A CONOOPlINlUMS
.
TA BLE OF CONTENTS
<
1- Location Map ( 1" = 400') Page One
2- Sketch Plan Page Two
3- Title Policy Page Three
4- Conceptual Presen ta tion Page Four
Date of Presentation: April 22, 1976
(a) Cheque in the Amount of S 100.00
Section: 20-20 Subdivision Fees- Conceptual Presentation
{a~)Cheque in the Amount of $ 23.14
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ck # 602
ck # 603
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pa~r~o,,:h~f~!'* CITY .fJ!!.r':iN. COLO~OO ...to" . $ 1,00..00
ItA t, tl".' , .",;or';o...lIII
......@f.tHONEHUNORED AND OO/ioo~**~v*:.i!,tr:~J'~:,~-;-~
:t\l\ ~tlt~~~D . "\":'., ....~
"a POOM94S-7422 J
~t. .. Gknwo04Sprlng.,CoIo"do IUDI ~f~!j \ .
~ForThI'lGJ'lo.t1..la1 Pres-Sect 20-2o/~'(a). L'Lu&._'_..f.~.'1 \h"......u.,
; I: W 2 ~"'O so1i":""-"",;,.lQB 3.'i::..o~--"-T _
Rocky "'ounlaln bnk 1<I0le . 51:1 Woot . . ______
A. McG. or ADELE R. WORMAN
BOX 3442 . 760 PARK CIRCLE
ASPEN. COlORADO 81611
603
April 22
197Q.
82.506
1021
PI>o!o tIjr Robert G. H'd~.n
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A. McG. or ADELE R. WORMAN,,',,::;,
BOX 3442 . 160 PARK CI~ClE :.,;~\;
. A~PEN, COLORADO 8i~.f'.J """':1
-$ . ,.';,: .. ."-"',$. APRIL 22
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602
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Pay to the *** Ci!JTY Of ASPEN, Gi3.l0~OO
order of ---J; ,
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*** TWt.NTY_THREE Al\iQ_14/l00
~trJW~~D. /,)
Pholl~94S.7422.' (j
G/enwood Springs, Colora.fo 31601
***
1976.
'$ 23.14
82-506
1021
**************.*
nollars
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For Conceptual Pres-Seq,t 20-20
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CONCEPTUAL PRESENTATION OF ALEX M. WORMAN
AND ADELE R. WORMAN TO THE CITY OF ASPEN
FOR THE TAILINGS CONDOMINIUMS
The following conceptual presentation is presented to the
Aspen City Planning Office by Alex M. Worman and Adele R. Worman
,pursuant to Section 20-10 of Ordinance No. 22, Series of 1975
Ordinances of the City of Aspen, as the first step in their appli-
cation to subdivide an existing apartment building into condomin-
iums.
The material is presented in the same order as provided
in subsection (b) of 20-10.
1. LOCATION.
Attached hereto "as Exhibit "1" is a Xerox copy of
the appropriate portions of the one inch equal 400
feet scale city map'. The project location is out-
lined on Exhibit "1" in red, and is legally descri-
bed as Lot 1, Sunny Park North Subdivision, Pitkin
County, Colorado. The applicants do not own or have
option to purchase any adjacent lands. The subject
property is designated R-MF Residential Multi-Family
Zone District and the adjacent lands to the west and
south of the subject property are also designed R-MF.
The adjacent property to the north is designated R-15
ReSidential.
2. SKETCH PLAN.
The building was constructed as an apartment house and
attached hereto as Exhibit "2" is a sketch plan showing
the property boundary, the location of the building as
constructed, the public use areas, and the existing
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street system.
3. TABULATION OF DATA.
Proposed Name.
The Tailings (which is the present name of the
apartment building).
Acreage.
16,837 square feet or .3856 of an acre,
.~
Number Size And Type Of Units..
There are four one-bedroom units each containing
536 square feet, there are five two-bedroom townhouse
units each containing 1,168 square feet and one two-
bedroom townhouse unit of 2,100 square feet.
Projected Population.
Based upon Section 20-18 of Ordinance No, 22, the
number of residents are calculated to be 21,4 people.
(rhere are currently 21 people living in the building)
4. OWNERSHIP.
Alex M. Worman and Adele R. Worman of 180 Park Circle,
Box 3442, Aspen, Colorado, telephone 925-5466 are the
sole fee owners and subdividers of the subject property,
The property is encumbered by a deed of trust for the
benefit of Columbia Savings and Loan Association, There
are no other "mortgages, judgments, liens, easements,
contracts, and agreements of record" affecting the
property except the lien for taxes for the current
year and utility easements, Attached hereto as Exhibit
"3" is a copy of Chicago Title Policy No, P-104-ll4-72
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which was issued prior to construction of the building.
Another policy was issued at the time permanent finan-
cing was completed and will be filed with the Planning
Commission within five days of today.
DATED this 21st day of
April, 1976.
AP~TS~~~,
Alex M. ~rman
180 Park Circle
Box 3442
Aspen, Colorado 81611
925-5466
.~
Afii: t: {~a~);.'-'/>"~
180 Park Circle
Box 3442
Aspen, Colorado 81611
925-5466
Springs, Colorado 81601
-3-
P-l04-1l4-72
Number
SCHEDULE A
Date of Policy
Amount of Policy
PAGE. T/olA Ii:
06 005 04 02083
June 6, 1972 1:00 P.M.
$44,000.00
CONCEPTUAL PRESENTATION-EXHIBIT "3"
1. Name of Insured:
A. McG. WORMAN
.~
2. The estate or interest in the land described or referred to in this schedule covered by this policy is:
Fee simple
3. Title to the estate or interest covered by this policy at the date hereof is vested in the Insured.
4. The land herein described is encumbered by the following mortgage Or trust deed, and assignments:
NONE
and the mortgages or trust deeds, if any, shown in Schedule B hereof.
5. The land referred to in this policy is described as follows:
Lot 1, SUNNY PARK NORTH SUBDIVISION,
County of pitkin
State of Colorado
\ This policy valid only if Schedule B is attached.
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SCHEDULE B
Policy Number 06 005 04 020R1
Owners
This policy does not insure against loss or damage by reason of the following exceptions:
General Exceptions:
(1) Rights or claims of parties in possession not shown by the public records.
(2) Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an
accurate survey and inspection of the premises. .
(3) Easements or claims of easements not shown by the public records.
(4) Any lien, or right to a Jien, for services, .labor, or material heretofore or hereafter furnished, imposed
by law and not shown by the public records.
(5) Taxes or special assessments which are not shown as existing liens by the public records.
Special Exceptions: The mortgage. if any. referred to in Item 4 of Schedule A.
6. Reservations as contained in United States Patent.
7. Rights-of-way and easements for roads, ditches, pipelines and utility
lines.
8. Subject to the restriction that no trailer camps nor trailer parks
shall be permitted or constructed, which restriction shall run with
the land.
9. Any Taxes due and payable.
co::~ ~
Authorized Signatory
ScheduleS of this Policy consists of
pages.
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r-'\ TIM MORTGAGE 2/73 FORM 2311
.
Countersigned:
Authorized Officer or Agent - City and State
File No. GV-1531
Policy No.
13 636451
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Amount $
200,000.00
SCHEDULE A
I. Policy Date
June 5. 1973
at
8:00 A.lI.
2. Name of Insured:
COLUmHA SAVI::GS AND LOAN ASSOCIATIOll
3. The estate or interest in the land described in this Schedule and which is encumbered by the insured mortgage is:
A FEE
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4. The estate or intetest referred to herein is at Date of Policy vested in:
ALEXANDER r';lcG01~IN \1:CRi'iFIN [;f";5 f..DELE R. l':ORr.r~lUl~ ~s Tcnt.i11.:s .in Go:nmO:1
"-"__ ....................__..;.............."'~._...,.,..,<<..,...._'..,_c........",>.~','.-...,...,.~.,...".",.""";'!., .~ _ . ..
5. The mortgage, herein referred to as the insured mortgage, and the assignments thereof, if any, are described as follows:
n....,"')(! O.c T...."(".I. d"'~"""~...t r,1~'I";::: o;r73 .~''''"",l;"'\1 fil, C\,..fPI,tl)~") n.....r:::.~qI?-! ~,!....7:;'~I'-~/'\~.1 1:1"~:--: 1"\[;"'Ll' R !.'v'....,r','~i~!)~,!
lJ..,;~\.I '. ~"'."'.. .I;.:~...U \'~""J C~y, ~;" , \."..\ 1......(../\hl.'-'I..~.......,.).. It ..~'..:':'.. ,-..~.., t-~ c- ~ j:. ',- .....1\
to th8 Pub<i -1c T;'ustca of Pltki~1 Cou;r~y -70:'" the; t~:j(:: of CCUJr:BIA s:~.vINGS PJm LD:~;.I
{\SS0,CIATIO;,: to secu~'\?! tho sum of $200,000.00 ~"cc':;:"(bd JUDe: 4, 1973, in Book 276
ut Pu!]C 3G5.
6. The land referred to in this policy is situated in
and is described as follows:
P>ltkin
County,
Colorado
LOT 1. StH'!nY Pi\RK Na~TH SUCDIVISIOU~ uccoi"d'ing to thta l"CCOi'lGcd plt.t ther'oof~
County of Pitkin. State of COlcrndo.
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This Policy valid only if Schedule 8 ,is attached.
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TIM MORTGAGE FORM
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File No. GV-1531
Policy No. B 6ZSl1Gl
SCHEDULE 8-1
This policy does not insure against loss or damage by reason of the following:
1.
TaKas end cssessments not Y8tdue O~.. payable.
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SCHEDULE 3-1:
In addition to the matters set forth in Part I of this Schedule, -the title to the estate or interest in the land described or
referred to -in Schedule A is subject to the following matters, if any be shown, but the Company insures that the lien or
charge of the insured mortgage upon said estate or interest is prior to such matters:
HC~:E