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HomeMy WebLinkAboutcoa.lu.co.511 Walnut St Lot 10 Fox Crossing.0029.2008,~, THE CITY OF ASPEN City of Aspen Community Development Department CASE NUMBER PARCEL ID NUMBER PROJECTS ADDRESS PLANNER CASE DESCRIPTION REPRESENTATIVE DATE OF FINAL ACTION 0029.2008.ASLU 2737-07-39-2-010 0511 WALNUT STREET FOX CROSSING ANDERA HINGLEY FOX CROSING SUBDIVISION CHRIS LE CROIX 7/31 /2008 CLOSED BY Angela Scorey on 03/11/2009 ~~-~- (~ 2?3"7 0?3~Z~~ ~~„~,~ c~o29•Zoog•~sL[~ File €dR Record (yariga~ Fgrm Reports ForLnat Tab Hey Man 1lAt'+at+on ~CUStan flalds ~AT~OS ~Faef ~Paroe{s Fee SwmarY ~SUb eermts ~At[admnts ~ROytYp S[a[us ~RpRirlq..4. 1 '.. Permit Type aslu .Aspen Land Use Pennd • 0029.2008.ASLU Address 0511 WALNUT ST ~ Apt/Suite Cky ASPEN Stale CO 2iD 81611 J Permit Information _ -- _ _: -:. Master PermR ~~ Routing Queue aslu07 Applied 06/03(2008 J Project J Status pending Approved ~J Descrptlon CONDOMINIUMIZE LOT 10INTO UNITS A &B Iswed Final ~J Subrcitted GARF[ElD &HECHT, PC 925-1936 Clock unning Days ~0 Expires Sf29/2009 ~ i Owner _. _.._ _: 'j Last Name FO% CROSSING PARTNERS I ~ First Name ~ 601 E HOPKINS ASPEN C0816t1 Phou (970)920-0007 A Owner Is App4can[? ~~~ App4cant __.. _. _. __.__ _._.. __- Last Name FO% CROSSING PARTNE0.51 J First Name ~ 601 E HOPKINS ASPEN CO Bl61l Phone (970)920-0007 CustX 27710 Lender- _:. -:. _.. _.. __. Last Name ~~-] First Neme Phone ___ ,~.. ... ~ __ ~(~ c~c ~ 7aS~• ov C{G # l 76~ ..~ 6DO23 ~t6 6 Jennifer Phelan From: Chris LaCroix (clacroix@garfieldhecht.com] Sent: Tuesday, July 15, 2008 5:20 PM To: Jennifer Phelan Cc: harris a. cahn; Rick Crandall; Jeff Tuttle Subject: Fox Crossing Lot 10 Attachments: foxcondo-10.pdf; #297051 v2_iManage_ -Fox Crossing_Duplex Condo Declaration for Lot 10.pdf Categories: Red Category Jennifer - in response to your questions about the condominium application for Fox Crossing Lot 10, please find the following (and please also consider this email a supplement to the condominium application): 1. Revised Condo Map with corrected scale. 2. Proposed Condomimium Declaration -please take a look at section 1.2(g) in response to your question about the drywells and other common utililites'Section 1.2(g) which provides that all utilities that serve both units are GCEs. I am still working on an easement declaration to cover the fact that the driveway to Unit B crosses Unit A. I should be able to send you a draft easement declaration in the next day or two. Please let me know if you need anything else or if you have additonal questions. Regards, Chris LaCroix Garfield & Hecht, RC. 601 E. Hyman Avenue Aspen, Colorado 81611 Phone: (970) 925-1936 x204 Fax: (970)925-3008 email: clacroix(a_,garfieldhecht.com N047CE: 4Tiis e-mail message andallattac(zments transmitted with it may contain legally privilegedand confidentialin{ormation intended solely ortFie use of the addressee. 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C~ s ;~~7i ~ g ~~ ~ f ~ + b~ ~^ a IffZ s e~3'~~~ eR~ ~S~ f~~ P ~ O Y = pR 9} ~a gi ax Pt ~ P}.~ ~~ e~F ~ }~1~~~fy`1~Jf ~ ~ ~ef ~ ~ ~. aY ~ gig} e e ~ Pat }~;§'s x t8~ 4 R ~. ~ $P }8 } Pe } # [~1 ' f } 9 t ~ 1 R ~ T .~, .-. .s CONDOMINIUM DECLARATION OF FOX CROSSING LOT ]0 CONDOMINIUMS THIS DECLARATION is made by Fox Crossing Partners, LLC, a Colorado limited liability company (the "Declarant"). RECITALS A. Declarant is the owner of the real estate in Pitkin County, Colorado legally described as: Lot 10, Fox Crossing Subdivision, according to the Plat thereof recorded June 20, 2005 in Plat Book 74 at Page 17 as Reception No. 511410 in the offices of the Clerk and Recorder of Pitkin County, Colorado (the "Real Estate"). B. Declarant wishes to create a Condominium Common Interest Community (the "Common Interest Community") in which portions of the Real Estate are designated for sepazate ownership and the remainder of which is designated for common ownership solely by the owners of the separate ownership portions. THEREFORE, Declarant states as follows: ARTICLE 1 SUBMISSION; DEFINED TERMS Section L I. Submission of Real Estate. Declazant hereby declares that all of the Real Estate is hereby made subject to the following easements, restrictions, covenants and conditions which shall run with the Real Estate and be binding on all parties having any right, title or interest in the Real Estate or any part thereof, their heirs, legal representatives, successors and assigns, and shall inwe to the benefit of each owner thereof. The Real Estate shall be subject to the provisions of the Colorado Common Interest Ownership Act, C.R.S. § 38-33.3-101, et seq., as amended from time to time ("CCIOA"). Section L2. Defined Terms. Each capitalized term not otherwise defined in this Declaration or on the Condominium Map (the "Map") of the Fox Crossing Lot ] 0 Condominiums recorded July _, 2008 in Book _ at Page , as Reception No. of the records of Pitkin County, Colorado (the "Records") and used herein or on the Map shall have the meanings specified or used in CCIOA. (a) "General Common Elements" means only those areas identified on the Map as being General Common Elements for the use and enjoyment of both Unit A and Unit B or as otherwise provided in Section 1.2(g) below, including the easements, if any, shown on the Map that service both Unit A and Unit B. (b) "Master Association" means the Fox Crossing Aspen Homeowners Association, created by the Master Association Documents. (c) "Master Association Documents" means the Master Declaration and the articles of incorporation and bylaws of the Master Association, and any procedures, rules and regulations, and policies adopted under such documents by the Master Association. ~` '.,.+ (d) "Master Declaration" means that certain Master Declazation of Protective Covenants for Fox Crossing Subdivision recorded in the offices of the Clerk and Recorder of Pitkin County, Colorado on January 2, 2008 as Reception No. 545394 and rerecorded January 3, 2008 as Reception No. 545472, as it may be amended and/or supplemented from time to time. (e) "Unit A" shall mean the real property identified as "Unit A" on the Map. (f) "Unit B" shall mean the real property identified as "Unit B" on the Map. (g) If any chute, flue, duct, wire, conduit, bearing wall, bearing column, other fixture or utility, including without limitation any sewer, drywell, cable TV, water or other utility lines or utility equipment, lies partially within and partially outside the designated boundary of a Unit, any portion thereof serving only that Unit is a Limited Common Element allocated solely to that Unit, and any portion thereof serving more than one Unit or any portion of the Common Elements is a part of the General Common Elements. Declaration. Section L3. Master Declaration. The Real Property is subject to the Master ARTICLE 2 NAMES; DESCRIPTION OF REAL ESTATE Section 2.1. Names. (a) Common Interest Communiri. The name of the Common Interest Community is the Fox Crossing Lot l0 Condominiums (the "Condominium"). (b) Association. The name of the homeowners association for the Common Interest Community is the Fox Crossing Lot l0 Condominiums Owners Association, a Colorado nonprofit unincorporated association (the "Association"). ARTICLE 3 THE ASSOCIATION Condominium. Section 3. 1. Authori .The Association shall manage the business affairs of the Section 3.2. Powers. The Association shall have all of the powers, authority, duties, rights and benefits permitted to an unincorporated nonprofit association pursuant to the Colorado Unincorporated Nonprofit Association Act, C.R.S. Section 7-30-]01 et seq. (the "Association Act"). Except as otherwise provided in this Declaration, when approval of the members of the Association is required, the Association may only act upon the unanimous consent of its Unit A Member and its Unit B Member, and neither Member acting alone shall have the power to act for or bind the Association. Section 3.3. Members. The Association shall have two (2) members, the Unit A Member, which is the owner of Unit A, and the Unit B Member, which is the owner of Unit B. Membership in the Association shall be automatic on the part of any individual(s) or entity(ies) acquiring an ownership interest in a Unit and shall automatically pass from any individual(s) or entity(ies) no longer holding an ownership interest therein. Section 3.4. Executive Board. Except as otherwise provided in this Declaration or as .-, \,..~ required by the mandatory provisions of CCIOA or the Association Act, the Association shall act through its Executive Boazd. The Executive Board will consist of two directors, and the directors shall appoint the officers of the Association. The Unit A Member and the Unit B Member shall each appoint one director. Except as otherwise provided in this Declaration, the Executive Boazd may only act by unanimous decision, subject to the terms set forth in Section 3.6 below. Directors and officers of the Association may be, but need not be, owners of Units. The Executive Board may, from time to time, promulgate Bylaws and Rules and Regulations for the Common Interest Community. Section 3.5. Notice to Owners. Any notice to an owner of matters affecting the Common Interest Community by the Association or by another owner shall be sufficiently given if such notice is in writing and is: (i) delivered personally, by courier or private service delivery; (ii) deposited in the mails regular first-class postage prepaid, at the address of record for real property tax assessment notices with respect to that owner's Unit, which notice shall be effective three days after mailing; or (iii) delivered by telefax transmission to the fax number on file with the Association. Each Owner shall have a continuing obligation to register the Owner's current address, telephone and fax numbers with the Association. Section 3.6. Deadlock. (a) Definition. "Deadlock" shall mean a written statement that there is a "Deadlock" made by a member of the Executive Board to the other member of the Executive Board after a formal vote in which one member of the Executive Boazd votes for or against a proposition and the other member votes differently or refuses to vote, concerning (i) the amount of Insurance, (ii) the insurance company to provide the Insurance or the budget therefor, (iii) the required degree of Maintenance, or the use of, any General Common Elements, (iv) the manner in which Maintenance will be accomplished, including without limitation the maintenance company (if there is to be one) to provide or manage the Maintenance, (v) the budget for Maintenance, (vi) any other decision where the members of the Executive Board aze unable to reach a unanimous decision; or (vii) any right to vote or to exercise any other rights relating to the Real Property. Notwithstanding the foregoing, however, a "Deadlock" shall not be deemed to apply to any optional capital improvement that is in excess of two thousand dollars ($2,000.00), it being the intent of the Declarant that no owner shall be obligated or forced to expend monies in excess of such sum unless such expenditure is necessary in order to maintain the Common Interest Community in a high quality condition. (b) Breaking a Deadlock. In the event of a Deadlock, the Executive Board shall take another vote on the proposition. If that vote is not unanimous, then the Executive Board shall ask the Master Association's Executive Board to resolve the issue, and the decision of the Master Association's Executive Board shall be final and binding on the Members; provided, however, that if one of the Members is also a member of the Master Association's Executive Board, such Member shall not be entitled to participate as a member of the Master Association's Executive Board in connection with resolving any Deadlock. Section 3.6. Cooperation with Master Association. The Association may contract or cooperate with the Master Association as convenient or necessary to provide services and privileges and to fairly allocate costs among the parties utilizing such services and privileges which may be administered by the Association or such other organizations, for the benefit of Owners and their family members, guests, tenants, and invitees. The costs associated with such efforts by the Association (to the extent not chargeable to other organizations) shall be a Common Expense. Section 3.7. Issuance of Rules and Re~tilations. The Executive Boazd may make and amend reasonable rules and regulations governing the use of the Common Area, which rules and regulations shall be consistent with any applicable requirements of the Master Association Documents and shall be substantially consistent with the rights and duties established in this Declazation. The Executive Board shall provide thirty (30) days' written notice prior to the adoption or amendment of any rules and regulations and provide for a reasonable opportunity for Owners to comment at a meeting of the Executive Board on the proposed adoption or amendment of any rules and regulations. ARTICLE 4 UNITS Section 4. L Number of Units. The number of Units in the Common Interest Community is two (2), namely Unit A and Unit B. Section 4.2. Use and Eniovment. Each Unit shall have the sole use and enjoyment of all azeas marked on the Map as being part of, or appurtenant to, such Unit. Furthermore, each Unit owner shall have the sole responsibility to maintain each Unit, at such Unit owner's cost, and in a first class condition. Section 4.3. Boundazies. The boundaries of each Unit, and the boundaries of all General Common Elements, are as shown on the Map and as defined by this Declaration. ARTICLE 5 COVENANT FOR COMMON EXPENSE ASSESSMENTS Section 5.1. Common Expenses. The only Common Expenses of the Association are for (a) Maintenance, as defined in Article 6 below; (b) Insurance, as defined in Article 6 below; and (c) those azising under the Master Association Documents, as described in Section 5.7 below. Section 5.2. Creation of Association Lien and Personal Obliea[ion to Pav Common Expense Assessments. Each person or entity owning any interest in a Unit (other than a bona fide mortgagee), by acceptance of any conveyance of such interest in the Unit, shall be deemed to covenant and agree to pay to the Association annual Common Expense assessments. Such assessments shall also include late chazges, attorney fees and costs of collection charged by the Association. All Common Expense assessments shall be the personal obligation of the owner(s) at the time when the assessment becomes due. No Unit owner(s) shall convey any such interest in the Unit unless and until all sums due the Association and not assumed by the transferee are currently paid. All Common Expense assessments shall be a continuing lien upon the Unit and is subject to the Association's right to Foreclose as provided by CCIOA. Notice of such lien may be given by filing in the records of Pitkin County, Colorado by any owner in the name of the Association. Acceleration of any installment of the annual Common Expense assessment shall be in the Association's sole discretion on a case-by-case basis. Section 5.3. Apportionment of Common Expenses. Common Expenses shall be assessed against the Units on the basis of fifty percent (50%) to Unit A and fifty percent (50%) to Unit B (the "Common Expense Allocation"). The Common Expense Allocation may only be changed upon the unanimous written consent of all owners of Units A and Unit B. Section 5.4. Annual AssessmenUCommencement of Common Expense Assessments. The Common Expense assessments shall be based upon the Association's advance budget of the cash requirements needed by it to provide Insurance and Maintenance during such assessment year. Section 5.5. Special Assessments. A special assessment is any assessment that is not levied pursuant to an approved budget. The Association may levy one or more special assessments only to provide, with respect to the General Common Elements, for liability claims or for unexpected repair or replacement, to the extent not covered by Inswance, or to provide for extraordinary Maintenance, if the Executive Boazd so determines. Section 5.6. Effect of Non-Payment of Assessments. Any assessment provided for in this Declaration, or any installment thereof, which is not fully paid within fifteen days after the due date thereof shall beaz interest at the rate of twenty-one percent (21 %) per ammum. Further, following ten (] 0) days' notice in writing given to the non-paying owner(s), the Association may bring an action at law or in equity, or both, against any non-paying owner(s) to pay such overdue assessment, or installments thereof, and may accelerate the due date for payments of all installments remaining for the budget year, and may also proceed to foreclose its lien against such owner's Unit, provided that the owner(s) shall have the right, until the date of sale in the foreclosure proceeding, to ewe the delinquency upon payment to the Association of the amount due, including attorney's fees, interest and costs. An action at law or in equity by the Association against any owner(s) to recover a money judgment for unpaid assessments or installments thereof, may be commenced and pursued by the Association without foreclosing, or in any way waiving, the Association's lien therefor. For the purposes of collecting upon an unpaid assessment the provisions of Article 3 above need not apply and the non-delinquent owner, acting alone, shall have the right in the name of the Association and on its behalf or, as may be necessary, in the name of such non-delinquent owner, to do and pwsue all things that the Association is authorized to do under this Declazation in the case of a delinquent assessment, in addition to any rights of the non-delinquent owner under the provisions of Section 9.3 hereof. Section 5.7. Master Association. Pwsuant to the Master Association Documents, the Association is empowered and authorized, and upon the request of the Master Association shall be required, to levy and collect from Owners of Units within the Association the assessments owing to the Master Association as part of the Association's own assessment procedwes and to promptly remit such assessments collected by the Association to the Master Association. In the event that such assessments collected and remitted to the Master Association by the Association aze less than the entirety of the assessments owed by the Owners as a result of the failure of any of such Owners [o pay such assessments to the Association, the Association is required to provide a written statement of such delinquent Owners to the Master Association concurrently with submission of the assessments to the Master Association. ARTICLE 6 MAINTENANCE AND INSURANCE Section 6.1. Maintenance. (a) Association's Resnonsibiliri. The Association shall be responsible for the maintenance and repair of all those azeas on the Map marked "General Common Elements", to the extent not maintained and repaired by the Master Association (collectively "Maintenance"). (b) Owner's Resnonsibiliri. Except as provided in Section 1.2(g) with respect to General Common Elements or as provided in the Master Association Documents, for purposes of maintenance, repair, alteration and remodeling, an owner shall be deemed to own, and shall have the right and the obligation to maintain, repair, alter and remodel the foundation, columns, girders, beams, supports, perimeter and supporting walls, chimneys, chimney chases, roofs, interior non supporting walls, the materials making up the fmished surfaces of the perimeter walls, ceilings and floors within such owner's Unit, utility systems, utility easements providing utility service to such owner's unit, but not both of the Units, utility service lines and connections, as well asRhe doors and windows of the Unit, any and all new additions to the Unit hereafter made by the owner thereof, including any new fence or other structure enclosing a patio, balcony, yard or deck area, and all other portions of the exterior and interior of the building improvements within the Common Interest Community constituting a part of such Unit. Notwithstanding the foregoing, without the prior ,~.,., written consent of owners of both the Units, no owner shall modify or alter any landscaping now or hereafter installed within the General Common Elements. An owner shall not be deemed to own lines, pipes, wires, conduits, snow melt equipment or snowmelt boiler, or other systems (collectively herein "Infrastructure") running through or outside such owner's Unit but which serve both Units, except in common with all owners. The costs of maintaining in good order and repair the Infrastructure, if any, which does not serve either Unit exclusively, shall be borne by the Owners in accordance with the Common Expense Allocation. Each owner shall, a[ such owner's sole cost and expense: (i) keep and maintain in good order and repair the equipment and that portion of the Infrastmcture located in such owner's Unit, which serve that Unit exclusively; (ii) maintain in a clean, safe and attractive condition and in good repair the exterior and interior of such owner's Unit, including the fixtures, doors and windows [hereof, the improvements affixed thereto, and that portion of the roof serving such Unit; and (iii) maintain in a neat and clean condition all the decks, yard, porches, roof, balconies or patio azeas, which have elsewhere in this Declaration been reserved to and for the exclusive use of such owner. Section 6.2. Insurance. (a) Insurance. Each Unit owner shall maintain, unless otherwise agreed by all of the Unit owners, as an expense of each respective Unit owner, property insurance for each Unit, General Common Elements, and adequate insurance to cover each owner's fifty percent (50%) undivided interest in the General Common Elements, in a policy amount that is not less than the full insurable replacement cost thereof and commercial general liability insurance in such minimum amounts as the Executive Boazd may establish from time to time, as provided by C.R.S. § 38-33.3-313 of CC[OA, the provisions of which Section aze incorporated herein by this reference. Each such insurance policy shall list the Association as an additional named insured and shall be written with an insurance company licensed to do the business of insurance in the State of Colorado and shall have a rating of "A" or better as shown in the published rating of AM Best Company. if the above insurance is not available, in whole or in part, the Association shall maintain the portion of the insurance that is or was not available to the individual Unit owners. (b) Owners' Insurance. During the period of construction of the Units, each Unit owner will maintain, and will provide proof thereof to the other Unit owner, builder's risk insurance in a policy amount that is not less than the full insurable replacement cost of the construction and commercial general liability insurance a minimum amount of $1,000,000 per occurrence and $3,000,000 aggregate. Each Unit owner shall maintain such additional personal property and liability insurance with respect to its Unit (and the contents thereof] as such owner may establish from time to time. The owners will endeavor to use the same insurance company as the Association uses for its insurance under Section 6.2(a) hereof. (c) Waiver. Subject to obtaining the waiver of subrogation endorsement required by CCIOA (if available), the owners release each other and the Association, and their respective authorized representatives, from any claims for damage to any person or to the Units or Common Elements that are caused by or result from risks insured against under any insurance policies carried by the owners or the Association and in force at the time of any such damage. (d) Oblieation to Renoir or Replace. In the event of a casualty with respect to the General Common Elements, the Association shall repair or replace the improvements as necessary to restore them to their condition before the casualty event. As provided by CC1OA, the proceeds of any insurance carried by or for the Association shall be used for such purpose and the Association shall be the trustee to receive the insurance awards and cause the repair or replacement to be ~. accomplished. If the cos[ of repair or replacement exceeds the amount of insurance proceeds, the amount necessary to effect such restoration as determined by the Executive Boazd shall be a Common Expense assessed against the owners as set forth in Section 5.3 above; provided, however, that the Executive Boazd shall reallocate such assessment between the Unit A and Unit B Members to the extent that the restoration benefits do not benefit both Units substantially proportionately to their allocated interests. Notwithstanding the foregoing, if the casualty was caused by the misconduct of an Owner, the amount needed to effect the restoration after use of the Association's and such Owner's insurance proceeds shall be assessed exclusively against such Owner's Unit. Section 6.4 Restoration Uaon Condemnation. (a) Total Takine. In the event of a taking of the total Real Estate by eminent domain, each owner shall be entitled to receive the awazd of such taking for that owner's Unit, after all mortgages and liens on the Unit have been satisfied or otherwise dischazged. After acceptance of the award of the taking by the owners and then mortgagees and lienholders, the owners, their mortgagees and lienholders shall be divested of all interest in the Units and the owners shall vacate the Units as a result of such taking. (b) Partial Takine. In the event of a partial taking of the Real Estate by eminent domain, the owner of any affected Unit or its mortgagees or lienholders, as applicable, shall be entitled to receive the awazd of such taking and after acceptance of the award of the taking by the owner and its mortgagees and lienholders, the owner, its mortgagee and lienholders shall be divested of all interest in the Unit or portion of the Unit, as applicable, and such owner shall vacate the Unit or said portion thereof as a result of such taking. The remaining portion of the Unit shall be re-surveyed and, if necessary, the Declaration and/or the Map shall be amended to reflect such taking. If the taking includes al] or a portion of the General Common Elements then, unless the owners decide not to rebuild, the remaining General Common Elements shall be restored by the Association using the condemnation proceeds. If the cost of restoration exceeds the amount of condemnation proceeds, the amount necessary to effect such restoration as determined by the Executive Boazd shall be a Common Expense assessed against the owners as set forth in Section 5.3 above; provided, however, that the Executive Boazd shall reallocate such assessment between the Unit A and Unit B Members to the extent that the restoration benefits do not benefit both Units substantially proportionately to their allocated interests. ARTICLE 7 RESTRICTIONS ON USE Intentionally Omitted -Restrictions on Use are Contained in Master Declaration ARTICLE 8 EASEMENTS Section 8 1. General Common Elements Easement. Each Unit owner has a right and easement of enjoyment in and to the General Common Elements, which shall be appurtenant to and shall pass with the title to every Unit, subject to the provisions contained herein. Every owner shall have a non- exclusive easement over, under and across the General Common Elements. Section 8.2. Easements for Improvements, Maintenance and Utilities. Reciprocal Easements (among all Units and all Common Elements) are hereby declared to exist over and under the Real Estate and all areas thereof for the existing and future electric, telephone, water, gas, and sanitary and storm sewer lines and facilities, exhaust, heating and air conditioning facilities, snowmelt boiler and snowmelt equipment, plumbing vent pipes, cable or master television antenna lines, drainage facilities, garbage chutes, ~^ stairs, walkways, and landscaping, and for the repair, replacement and maintenance of the same, as needed to service the Real Estate and/or the individual Units. Each owner has the right, at such owner's sole expense and after giving written notice for at least ten (l0) business days to the other owner, to relocate such lines and facilities within such owner's Unit; provided, however, that such relocation shall be accomplished without interrupting the need of the other owner for the use of such lines or facilities (including the providing of temporary service, if necessary), except as such other owner specifically pemtits. Section 8.3. Encroachment Easements. Each owner has an easement over the adjoining Unit for the purpose of accommodating any encroachment due to engineering errors, errors in original constmction, reconstruction, repair, settlement or shifting or movement of the building, or any other similaz cause. There shall be valid easements for the maintenance of said encroachments so long as they shall exist, and the rights and obligations of owners shall not be altered in any way by said encroachment, settlement or shifting; provided, however, that in no event shall a valid easement for encroachment occur due to the willful misconduct of an owner or owners. In the event a stmcture is partially or totally destroyed, and then repaired or rebuilt in substantially the same manner as originally constructed, the owners agree that minor encroachments over the abutting Unit shall be permitted and that there shall be valid easements for the maintenance of said encroachments so long as they shall exist. Section 8.4. Master Association Easement. The declarant under the Master Declazation and the officers, agents, employees and independent contractors of the Master Association shall have a nonexclusive easement to enter upon the Property for the purpose of performing or satisfying their respective obligations as set forth in the Master Declaration and other Master Association Documents. ARTICLE 9 MISCELLANEOUS Section 9. I . When Consent or Authorization Not Necessarv. Notwithstanding anything in this Declaration to the contrary, whenever the consent or authorization of the Association or Executive Board shall be required under the provisions hereof, it shall suffice, and [he consent or authorization of the Association shall thereby be deemed given, if an owner seeking such consent or authorization has obtained the consent or authorization of the other owner in the Common Interest Community. Section 9.2. [ndemni .Each owner ("Indemnifying Owner") agrees to indemnify and hold the other owner ("Other Owner") blameless and harmless of, from and against any loss, claim, demand or obligation (including costs of defense and attomeys' fees) of whatsoever nature, which are not covered by Insurance as provided herein, occasioned by or in any manner resulting or emanating from any work done at the behest of the Indemnifying Owner on such owner's Unit or labor, services or materials famished to such Owner or such Owner's Unit. The Indemnifying Owner will maintain the Other Owner's Unit and all General Common Elements entirely lien free through payment or suitable substitution bond; upon the failure of the Indemnifying Owner so to do, the Other Owner shall have the right to do that which it, in its discretion, determines to be necessary to effect the release and dischazge of the lien from such Other Owner's Unit and the General Common Elements. The costs and expenses incurred in so doing, together with interest at the per annum rate of 21 % shall be repaid by the Indemnifying Owner upon demand to the Other Owner. Until repaid, the obligation so to do shall be secured by a lien against the Unit of the Indemnifying Owner, notice of which may be given by the Other Owner in the records of Pitkin County, Colorado, and which may be foreclosed as in the case of a mortgage. In any such foreclosure proceedings, the Other Owner shall be entitled to recover its costs and reasonable attorneys' fees. Section 9.3. Additional Riehts of Enforcement. Each of the covenants, obligations and undertakings in this Declaration contained on the part of the respective Unit owners to be kept, discharged or performed is intended to and shall be deemed to be for the specific benefit of the other Unit owner to the end that, in the event of the failure or inability of the Association to enforce any provision of this Declaration against a delinquent or defaulting Owner, the remaining Owner, acting alone, shall have [he right in the name of the Association and on its behalf or, as the case maybe necessary or advisable, in the name of such remaining owner and on his, her or its behalf to commence, maintain and obtain judgment under an action for damages, for specific performance, or for both, as appropriate, and in connection with any proceedings against a delinquent or defaulting owner the remaining owner shall be entitled to his, her or its costs and reasonable attorneys fees as a part of any judgment entered for such owner, and whether or not the relief obtained, including any damages, is less than what was sought. Section 9.4. Master Association Matters. Each Owner, by accepting a deed to a Unit, recognizes that (a) the Real Property is subject to the Master Association Documents and (b) such Owner is subject to any rules and regulations of the Master Association. Each Owner, by accepting a deed to a Unit, acknowledges that he has received a copy of the Master Declaration and the articles of incorporation and bylaws of the Master Association. Each Owner agrees to perform all of his obligations pwsuant to the Master Association Documents as they may from time to time exist, including, but not limited to, the obligation to pay annual, special, and default assessments as required under the Master Association Documents. Section 9.5. Enforcement of Master Association Documents. The Association shall have the power, subject to the primary power of the executive board of the Master Association, to enforce the covenants and restrictions contained in the Master Association Documents, but only as said covenants and restrictions relate to the Real Property, and to collect regular, special and default assessments on behalf of the Master Association. Section 9.6. Sunolement to Master Association Documents. This Declaration is intended to supplement the Master Association Documents as they apply to the Real Property. In addition to all of the obligations that are conferred or imposed upon the Association pwsuant to this Declaration and the articles and bylaws of the Association, the Association shall be subject to all of the obligations imposed upon it pwsuant to the Master Association Documents. The Association shall also be subject to all superior rights and powers that have been conferred upon the Master Association pursuant to the Master Association Documents. The Association shall take no action in derogation of the rights of, or contrary to the interests of, the Master Association. Section 9.7 Unit Exteriors and General Common Elements. No exterior or struc[wal addition to or change or aheration to any Unit or the General Common Elements (including the constnrction of any additiona] skylight, window, awning, or door) shall be made until the plans and specifications showing the nature, kind, shape, height, color, materials, and location of the same shall have been submitted to and approved in writing in accordance with the procedwes contained in the Master Declaration and any applicable zoning and other laws, roles, and regulations. Section 9.10. Conflict of Provisions. [n case of any conflict between this Declazation and the Master Association Documents, the Master Association Documents shall govern and control. In case of any conflict between this Declaration and [he articles or the bylaws of the Association, this Declaration shall control. In case of any conflict between the articles and the bylaws of the Association, the articles shall control. Section 9.11. Amendment. Neither this Declazation nor the Map shall be revoked or amended unless the Owners of all Units consent and agree to such revocation or amendment by instrument(s) that shall be duly recorded. IN WITNESS WHEREOF, the Declarant has caused this Declaration to be executed as of the _day of July 2008. DECLARANT: FOX CROSSING PARTNERS, LLC a Colorado limited liability company By: Alpine Capital Partners, LLC, its manager By: Harris A. Cahn, Manager STATE OF COLORADO ) ss. COUNTY OF PITKIN ) The foregoing was acknowledged before me this _day of July 2008 by Harris A. Cahn, manager of Alpine Capital Partners, LLC, manager of Fox Crossing Partners, LLC. Witness my hand and official seal. My Commission expires: Notary Public 10 ~~ .-. .~ *.r r~ THE CITY OF ASPEN Land Use Application Determination of Completeness Date: June 4, 2008 Deaz City of Aspen Land Use Review Applicant, We have received your land use application and reviewed it for completeness. The case number and name assigned to this property is 0028 2008 ASLU (511 Walnut - Condominiumization). The planner assigned to this case is Andrea Hinglev. ^ Your Land Use Application is incomplete: We found that the application needs additional items to be submitted for it to be deemed complete and for us to begin reviewing it. We need the following additional submission contents for you application: 1. 2. 3. Please submit the aforementioned missing submission items so that we may begin reviewing your application. No review hearings will be scheduled until all of the submission contents listed above have been submitted and are to the satisfaction of the City of Aspen Planner reviewing the land use application. Your Land Use Application is complete: ~If there are not missing items listed above, to begin the land use review process. then your application has been deemed complete Other submission items may be requested throughout the review process as deemed necessary by the Community Development Department. Please contact me at 429-2759 if you have any questions. Thank You, i~ ~nnifer Ph~n, Deputy ISirector City of Aspen, Community Development C:\Documents and Settings\jennifep\Desktop\organized\G Drive\Templates\Land Use Cases\Completeness Letter Land Use.doc ~~^ ~ „. ®3 ~, , CITY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMENT Agreement for Payment of Cirv of Aspen Development Application Fees CITY OF ASPEN(hereinafrerCITY)and ~x IiKDSSIN(s PaaTPI~$~LLC (hereinafter APPLICANT) AGREE AS FOLLOWS: 1. APPLICANT has submitted ro CITY an application for ,w .win ~.M.~/difl nwl ~C I n.~- ~~ Fi]Y ClDSS Ir1 l~ ~Ig (hereinafter, THE PROJECT). 2. APPLICANT unders[ands and agrees that City of Aspen Ordinance No. 48 (Series of 2006) establishes a fee structure for Land Use applications and the payment of all processing fees is a condition precedent to a determination of application completeness. 3. APPLICANT and CITY agree that because of the size, nature or scope of the proposed project, it is not possible at this time [o ascertain the full extent of the costs involved in processing the application. APPLICANT and CITY further agree [hat it is in the interest of the parties that APPLICANT make payment of an initial deposit and to thereafter permit additional costs to be billed to APPLICANT on a monthly basis. APPLICANT agrees additional costs may accrue following their hearings and/or approvals. APPLICANT agrees he will be benefited by retaining greater cash liquidity and will make additional payments upon notification by the CITY when they are necessary as costs are incurred. CITY agrees it will be benefited through the greater certainty of recovering its full costs to process APPLICANT'S application. 4. CITY and APPLICANT further agree tha[ i[ is impracticable for CITY staff to complete processing or present sufficient information to [he Planning Commission and/or City Council m enable the Planning Commission and/or City Council to make legally required Findings for project consideration, unless current billings are paid in full prior to decision. 5. Therefore, APPLICANT agrees that in consideration of the CITY's waiver of its right to collect full fees prior to a determination of application completeness, APPLICANT shall pay an initial deposit in the amount of $~ which is for _ hours of Community Developmem staff time, and if actual recorded costs exceed the initial deposit, APPLICANT shall pay additional monthly billings to CITY to reimburse the CITY for [he processing of the application mentioned above, including post approval review at a rate of $235.00 per planner hour over the initial deposit. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension of processing, and in no case will building permits be issued until all costs associated with case pr/ro~c~-essing haveLlbeen paid. fDX uSOSS~N~/ P~/~'AVS LLL1. CITY OF ASPEN APPLICANT , !pf Grhl .y+neg~ Ll~~ By: B . /Z 1¢dlM~ ~ ~ /ld9NA~ Chris Bendon Community Development Director GfA'NO(J-L~a[e: ~~307~0 1? Billing Address and Telephone Number: Required cool E. Nna~~~s ~Z"x~Qsa,r W 8~~~ ~'-O~gZo- oo~~ CITY `'° ~ COMMUNI ~ E E ~ ~ NT C:\Documents and Settings\johannahr\Desk[op\LUFeeAgree.doc t ~ ,PPI,ICANT: ATTACHMENT 2 -LAND USE APPLICATION Name ~S~i11~5 L !oR'fn14,R1} ~.t._,~ Location: Sl( Wk~/IVT St•~ Af~iJ [U ~'~6/~ (Indicate street address lot & block number legal descnptton where appropriate) Patcel m# (REQUIRED) a, 7 3 '7 c7 3 9 a o 10 KEPRESENTA'I'1 V E: r~ /~ II I Name: C~fL~ ~ Uu1K lT1/A f' f'(.lrh~ .L . Address: ~• NfJ.a /~ S ~Y L~ S! 6~~ Phone #: ~( ~ y2' S ~ !`/~ /' r'KVJGC I: L r I Naine Nr~oNAigjUMtZ911hI'1 ~~~p ~~ 'G~f~ ~/o,titn5 S~~.CI~ISIsY'J Address: ~f~ ~n(k ~ ~1 VT S{ ~ QS~~^l ~ U g ~ 6 Phone# (~1~~) ~lZ~' ~9~~0 vPE nP' APPLICATION: Inlease cnecx au mal appryt. ^ Conditional Use ^ Conceptual PUD ^ Conceptual Historic Devt. ^ Special Review ^ Final PUD (&PUD Amendment) ^ Final Historic Development ^ Design Review Appeal ^ Conceptual SPA ^ Minor Historic Devt. ^ GMQS Allotment ^ Final SPA (& SPA Amendment) ^ Historic Demolition ^ GMQS Exemption ^ Subdivision ^ Historic Designation ^ ESA - 8040 Greenline, Stream ~ Subdivision Exemption (includes ^ Small Lodge Conversion/ Margie, Hallam Lake Bluff, condominiumization) Expansion Mountain View Plane ^ Lot Split ^ Temporary Use ^ Other: ^ Lot Line Adjustment ^ Text/Ma Amendment S: EXISTING CONDITION (descri lion of existin buildin s, uses, revious a royals, etc1.) / ~T fD~C~+ ~ 1 ~wp PX1171h ~sf ~~tw CuAJaY/f~lu~t~ q~~+ Y.t t IM~ /tG1 'ROPOSAL• (description of proposed buildings uses modifications etc.) Coda,MiAiUMl2t ~~ lD ~t'E'o Un.1,~T ~ w,,1 _. Have you attached the following? FEES DuE: $~ -- ^ Pre-Application Conference Summary N/A Attachment #1, Signed Fee Agreement ^ Response to Attaclunent #3, Dimensional Requirements Fotm Nlj1 N/f4 ^ Response to Attaclmtent #4, Submittal Requirements- Including Written Responses to Review Standards All plans that are larger than 8.5" x 11" must be folded and a floppy disk with an electronic copy of all written text (Microsoft Word Format) must be submitted as part of the application. '~ ASPEN OFFICE 601 East Hyman Avenue Aspen, Colorado 81611 Telephone (970) 925-1936 Facsimile (970) 925-3008 GLENWOOD SPRINGS OFFICE The Denier Ceutre 420 Seven[h Street, Suite 100 Glenwood Springs, Colorado 81601 Telephone (970) 947-1936 Facsimile (970) 947-1937 GARFIELD &HECHT, P.C. ATTORNEYS AT LAW Since 1975 www.garfieldhecht.com June 3, 2008 ~~~~~ED BY HAND Ms. Jennifer Phelan Deputy Planning Director City of Aspen 130 South Galena Street Aspen, Colorado 81611 CITY OF COMMUNITY DE ESOPMENT AVON OFFICE 0070 Benchmark Road Pos[ Office Box 5450 Avon, Colorado 81620 Telephone (970) 949-0707 Facsimile (970) 949-1810 BASALT OFFICE River View Plaza !00 Elk Run Drive, Suite 220 Basalt, Colorado 81621 Telephoue (970) 927-1936 Facsimile (970) 927-1939 Christopher J. LaCroix Aspen Office clacroix@garfieldh echt. com RE: APPLICATION FOR SUBDIVISION/CONDOMINIUMIZATION OF LOT 10, FOX CROSSING SUBDIVISION Dear Jennifer: Fox Crossing Partners, LLC, a Colorado limited liability company ("Applicant"), respectfully submits this letter as part of its subdivision application seeking approval to condominiumize Lot 10, Fox Crossing Subdivision (the "Property"). The following information is required by Aspen Land Use Code sections 26.304.030 B., and 26.480.090: • Name of Applicant: Fox Crossing Partners, LLC, a Colorado limited liability company. • Applicant's address: c/o Gazfield & Hecht, P.C., attn: Christopher J. LaCroix, 601 E. Hyman Avenue, Aspen, Colorado 81611. • Applicant's telephone number: (970) 925-1936. • Name address and telephone number of representative authorized to act on behalf of Applicant: Gazfield & Hecht, P.C., 601 East Hyman Avenue, Aspen, Colorado 81611, tel.: (970) 925-1936, fax: (970) 925-3008. • Street address of property: 511 Walnut Street, Aspen, Colorado 81611. ®Prin[ed on recycled paper -~ GARFIELD & HECHT, P.C. Ms. Jennifer Phelan June 3, 2008 Page 2 • Lepal description of property: Lot 10, Fox Crossing Subdivision, according to the plat thereof recorded June 20, 2005 in Plat Book 74 at Page 17 as Reception No. 511410, County of Pitkin, State of Colorado. • Parcel identification number of Property: 273707392010. Applicant respectfully seeks approval to subdivide the Property into two (2) condominium units and create the Fox Crossing Lot 10 Condominiums. Also enclosed herewith, aze (i) two drafts of the proposed condominium map; (ii) current title commitment from Stewar[ Title Guaranty Company showing Applicant as owner of the Property; (iii) Agreement for Payment of City of Aspen Development Application Fees; (iv) a check payable to the Aspen/Pitkin Community Development Department in the amount of $705.00; and (v) City of Aspen Land Use Application Form. Thank you in advance for your consideration. Please contact me once you have had a chance to review the enclosed materials. Very truly yours, GA I &HECHT, P.C. By: Christo er J. LaCroix Enclosures Copies without enclosures to: Harris Cahn (via a-mail) Rick Crandall (via a-mail) ® Printed on recycled paper ,,,,, Stewart Tille of Colorado, Inc '"rr ~St@W . o~.. Aspen Division V `V 620 Eut Hopkins Avenue title of Colorado Aspen, Colorado 81611 Phone: (970}925-3577 _ Faz: (970}925-1384 Date: Jme 2, 2008 Order Number: FOXCROSSIO Buyer. Seller: Property: Unil A, Fox Crossing Lo[ 1 Condo, Pitkin Counry, Colorado Please direct all Escrow inquiries to: Carolyn Ethridge 620 East Hopkins Avenue Aspen, Colorado 81611 Phone: 970.925-3577 Faz: 970-925-1384 Email Address: carolyn.etluidge@s[ewart.coro Please direct sll Title iaquiries to: Linda Williams 97 Main Street, Suitt W201 Edwards, Colorado 81632 Phone: 970-7660234 Fax: 970.926-0235 Email Address: Iwilliam3@stewart.com SELLING BROKER: We Appreciate Your Business AndLOak Forward ro Serving Yau in rke Fuare ALTA Commiment (NI7/06) ALTA Commitment Form COMMITMENT FOR TITLE INSIJRANCE _`1~_Issu`ed b~y~ `M1T V `V--W title guaranty company Stewart Title Guazanty Company, a Texas Corporation ("Company"), for a valuable consideration, commits to issue its policy or policies oC title insurance, as identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy of policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six months aRer the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. Comtersigned:~~ / IY'~ . G(/ rl . tdCouWedpume Stewart Title o1'Coloredo, Inc. Aspen Division 620 East Hapldns Avenue Aspeq Colorado 81611 Pbone: (970)-9253577 Fax: (970)-925-1384 Order Number. POXCRO55[0 ~Bb p4fc ~~*~ti„ l abl A ~e~f y swe,cmimu.a ae ,a c9(~~~dd, N~ . ~i D vr•.a.a ALTA Conrcnitment (6/17/06) .-. ~.,. ..., COMMITMENT FOR TITLE INSURANCE SCHEDULE A 1. Effective Date: May 20, 2008 at 7:30 A.M. Order Number: FOXCROSSIO 2. Policy or Policies To Be Issued: Amount of insurance (a) A.L.T.A. Owner's (Standard) S TBD Proposed Insured: TO BE DETERMINED (b) A.L.T.A. Loan 3. The estate or interest in the land described or referred [o in this Commitment and covered herein is: Fee Simple 4. Title to the Fee Simple estate or interest in said land is at the effective date hereof vested in: FOX CROSSING PARTNERS LLC, A COLORADO LIMITED LIABll,ITY COMPANY 5. The land referred to in this Commitment is described as follows: Units A and B FOX CROSSING LOT 10 CONDOMINIUMS, according [o the Condominium Map thereof recorded as defined and described in the Condominium Declazation for Fox Crossing Lot 10 Condominiums recorded COUNTY OF PTTKIN, STATE OF COLORADO Statement of Chazges: Tbcsc charges arc due and payable before a Policy can be issued: PREMIUMS: DEVELOPERS RATE: TO BE DE7ERMINED Orrin Number: FOxCROSSIO ~+ ALTA Camnntmml (NI7/06) - Schedule A ~Xtle auareMy wmFlanY Pegc 1 of 1 .~. ~^`, 4.. ~rY/ COMMITMENT FOR TITLE INSURANCE SCHEDULE B -Section 1 REQUIREMENTS Order Number: FOXCROSSIO The following are the requirements to be complied with: L Payment to or for the account of the grantor(s) or mortgagor(s) of the full consideration for [he estate or interest to be insured. 2. Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record. 3. Evidence satisfactory to Stewart Title Guaranty Company of payment of all outstanding taxes and assessments as certified by the County Treasurer. 4. Execution of affidavit as to Debts and Liens and its return to Stewart Title Guazanty Company. 5. Condominium Map for Fox Crossing Lot 10 Condominiums 6. Condominium Declazation for Fox Crossing Lot 10 Condominiums. 7. Partial Release of Deed of Trust dated June I5, 2006, executed by Fox Crossing Partners, LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $41,000,000.00 in favor of Bank Midwest, N.A., recorded June 16, 2006 as Reception No. 525324. 8. Partial Termination of Financing Statement from Fox Crossing Partners, debtors to Bank Midwest, N.A. secured party filed June 16, 2006 as Reception No.525330. 9. Partial Release of Deed of Trust dated June 20, 2005, executed by Fox Crossing Partners LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $1,600,000.00 in favor of Chazles Shafer, R, recorded June 23, 2005 as Reception No.511580. ] 0. Paztial Release of Deed of Trust dated June 2Q 2005, executed by Fox Crossing Partners LLC, to the Public Trustee of Pitkin County to secure an indebtedness in the amount of $1,600,000.00 in favor of Meridian Capital Group III, Inc., recorded June 23, 2005 as Reception No.511581. 11. Partial Release of Deed of Tmst dated September 20, 2007, executed by Fox Crossing Partners, LLC, [o the Public Trustee of Pitkin County to secure an indebtedness in the amount of $4,000,000.00 in favor of Bank Midwest, N.A., recorded September 25, 2007 as Reception No.542384 and rerecorded October 5, 2007 as Reception No. 542700. 12. Partial Termination of Financing Statement from Fox Crossing Partners, LLC, debtors to Bank Midwest, N.A., secured party filed October 4, 2007 as Reception No. 542686. Order Number: POXCROSSIO ~~ ALTA Commimiml (d^N6)- Schcdule B 1 title nuarwrrM1y wmpeoy Pege 1 of 3 ,•~. ~. w .,~ 13. Release of the Affordable Housing Impact Fee Deferral Ageement by the City of Aspen and the Aspen/Pitkin County Housing Authority recorded Febmary 7, 2007 as Reception No. 534231. 14. Release of [he Affordable Housing Impact Fee Deferral Agreement by the City of Aspen and the Aspen/Pitkin County Housing Authority recorded February 7, 2007 as Reception No. 534233. l5. Evidence satisfactory to Stewart Title Guaranty Company, furnished by the Office of the Director of Finance, City of Aspen, that the following taxes have been paid, or that conveyance is exempt from said taxes: (1) The "Wheeler Real Estate Transfer Tax" ptusuanl to Ordinance No. 20 (Series of 1979) and (2) The "Housing Real Estate Transfer Tax" pursuant to Ordinance No. 13 (Series of 1990). 16. A. Certificate ofnon-foreign status, duly executed by the seller(s), pursuant to Section 1445 of the Internal Revenue Code AND B. Satisfactory evidence of the seller(s) Colorado residency (or incorporation) pursuant to Colorado House Bill 92-1270. NOTE: Section 1445 of [he Internal Revenue Code requires withholding of tax from sales proceeds if the transferor (seller) is a foreign person or entity. Colorado House Bi1192-1270 may require withholding of tax from sales proceeds if the seller(s) is not a Colorado resident. Detailed information and Forms are available from Stewart Title. 17. Duly executed Indemnity Agreement by Fox Crossing Partners, LLC, a Colorado limited liability company indemnifying Stewart Title of Aspen, Inc. against any and al] loss or damage due to rights and claims of parties established by virtue of cons[mction of improvements located on the subject property. (Form available from Stewart Title). 18. Duly executed affidavit by the chief executive officer or general partner of RJ W Builders, Inc. stating that: 1. They aze the general contractor for all improvements constructed on [he subject property. 2. All construction has been completed. 3. They have been paid in full. 4. All subcontractors and/or any parties which provided lienable services or materials for said constmction project have been paid. 5. A complete list of names, addresses and phone numbers of all subcontractors/suppliers aze attached to the Affidavit. 19. Indemnity and Affidavit as to Debts, Liens and Leases, duly executed by the seller and buyer and approved by Stewart Title of Aspen, Inc. 20. Deed from vested owner, vesting fee simple title in purchaser(s). Ordtt NUmbcr: FOXCROSS70 r~' S~j~/~/~ t ALTA Commitment (6/I]/06) - ScM1WUIe B 1 L~p~ B,,,,.,,y compenY Pa6e Z of J ~.. .-~ COMMITMENT FOR TITLE INSURANCE SCAEDULE B - Sectlon 2 EXCEPTIONS Order Number: FOXCROSSIO The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties is possession, not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance afteMiug the title that would be disclosed by an accurate and complete land survey of the Land end not shown by the public records. 4. Any lien, or right to a Ilan, for services, labor or material heretofore or hereafter fltrnlahed, imposed by law and not shown by the public records. 5. Defects, Ifeos, encumbrances, adverse claims or other matters, it any, created, first appearing the public records or attaching subsequent to the effective date hereof, but prior to the date the proposed Insured acquires of record for value the estate or interest or mortgage thereon covered by this commitment. b. Unpatented mining claims, reservations or ezceptions in patents, or In aMS author(ztag the issuance thereof. 7. Water rights, elalms or title to water. 8. Any and all unpaid taxes and assessments and unredeemed tax sales. 9. The effect of inclusions in any general or specific water conservancy, fire protection, soil conservation or other district or inclusion in any water service or street improvement azea. 10. Right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted, as reserved in United States Patent recorded December 24, 1902 in Book 55 at Page 1 l6 as Reception No. 67875. 1 I. Terms, conditions, obligations and provisions of Ordinance No. 57 (Series oft 988) An Ordinance Annexing Territory to the City of Aspen as Referred to and Described in that Petition for Annexation of Territory [o the City of Aspen Certified by the City Clerk on July 28, 1986, Commonly known as the ""Williams Addition"" as set forth in instnunent recorded January 6, 1989 in Book 585 at Page 330 as Reception No. 308587 and as shown on Plat recorded Febmary 6, 1989 in Plat Book 22 at Page 15 as Reception No. 308586. 12. Underground Right of Way Easement„ granted unto Holy Cross Energy as set forth in instrument ONa Number: FOXC20SSI U ALTA Commitment (W I ]/06) - SchrAulc B r Page I of 7 gee sueranty company .•. ^~, ~.. r ,+ recorded August 17, 1999 as Reception No. 434513. 13. Right of Way for Lone Pine Road and Gibson Avenue. 14. Terms, conditions, obligations and provisions of An Ordinance of the City Council of the Ci[y of Aspen, Colorado, Vacating Portions of the Walnut Avenue Right-of--Way Containing 1,050 Squaze Feet all within the City of Aspett, Pitkin County, Colorado, Ordirance No. 19 (Series of 1993) as set forth in instrument recorded May 3, 1993 in Book 710 at Page 990 as Reception No. 356442 and re-recorded November 7, 1995 in Book 798 at Page 938 as Reception No. 387120. 15. Easements, rights of way and other matters as shown and contained on Plat of Griffith Property, LLC, Lot Split Subdivision Exemption and Condominium Plat recorded January 28, 2003 in Plat Book 64 at Page 23 as Reception No. 477899. 16. Underground right of way Easement granted unto Holy Cross Energy, a Colorado corporation as set forth in instrument recorded November 7, 2002 as Reception No. 474475. 17. Terms, conditions, obligations and provisions of An Ordinance of the City of Aspen City Council Approving a Subdivision Exemption Lot Split for Lots 1 and 2 of the Property to be known and Dedicated as the Griffith Property LLC Lot Split located at 700 Gibson Avenue, City of Aspen, Pitkin County, Colorado, Ordinance No. 37 (Series of 2002) as set forth in instrument recorded December 5, 2002 as Reception No. 475668. 18. Temts, conditions, obligations, provisions and easements of Trench, Conduit, and Vault Agreement between Griffith Property, LLC and Holy Cross Energy, a Colorado corporation as set forth in instrument recorded December 6, 2002 as Reception No. 475736. 19. Terrtts, conditions, obligations, provisions and easements of Easement Agreement by and between The Griffith Property, LLC, a Colorado limited liability company and Walnut Property, LLC, a Colorado limited liability company as set forth in instrument recorded November 13, 2003 as Reception No. 491104. 20. Any and all ores or minerals which may be had, mined or found within the surface boundaries of said granted premises so faz as the same may or can be worked without interfering with the surface of said premises, as reserved in Deed recorded November 9, 1901 in Book 142 at Page 496 as Reception No. 66468. 21. Terms, conditions, obligations, provisions and easements of City of Aspen Ordinance No. 52 (Series of 1988) as set forth in instrument recorded February 6, 1989 in Book 585 at Page 330 as Reception No. 308587; and on the Annexation Plat recorded in Pla[ Book 22 a[ Page 15 as Reception No. 308586. 22. Terms, conditions, obligations and provisions of City of Aspen, Water Service Agreement between [he City of Aspen and Clourie Bennis as set forth in instrument recorded September 17, 1996 as Reception No. 397127. Ober Number: FOXCROSS IO ALTA Commitment (611]/06)- Schedule B 2 Page 3 of J tlde 9uetenN ~t^PanY ... ^, 23. Terms, conditions, obligations and provisions of Resolution of the Aspen Historic Preservation Commission (HPC) Approving an Application for Major Development (Final) for the Property Located at 555 and 557 Walnut Strcet, Which are Described as Lots 2-5, Block 3, Williams's Addition to the City and Townsite of Aspen, Colorado, Resolution No. 15, Series of 2005 as set forth in instrument recorded May 26, 2005 as Reception No. 510584. 24. Easements, rights of way and other matters as shown and contained on Plat of Fox Crossing Subdivision recorded June 20, 20005 in Plat Book 74 at Page 17 as Reception No. 511410. 25. Terms, conditions, obligations and provisions of Subdivision Agreement for Fox Crossing Subdivision as set forth m instrument recorded June 20, 2005 as Reception No. 511411. 26. Terms, conditions, obligations and provisions of Agreement by and between Walnut Property, LLC and the City of Aspen as set forth in instrument recorded June 20, 2005 as Reception No. 511425. 27. Terms, conditions, obligations and provisions of Ordinance No. 50 (Series of 2004) An Ordinance of the City of Aspen City Council, Approving Three Growth Management Quota System Exemptions, Vacation of a Portion of Race Street, and a Fourteen Lot Subdivisions to be Known as the Fox Crossing Subdivision on Land Located between Lone Pine Road and Race Alley betweer. Walnut Street and Race Strcet, 557 Race Alley and Vicinity, City of Aspen, Pitkin County, Colorado as set forth m instrument recorded June 20, 2005 as Reception No. 511408 28. Terms, conditions, obligations, provisions and easements of Revocable Encroachment License as set forth in instrument recorded June 20, 2005 as Reception No. 511409. 29. Declaration of Utility Easements by Fox Crossing Partners LLC recorded September 26, 2007 as Reception No. 542422. 30. Master Declaration Of Protective Covenants For Fox Crossing Subdivision recorded January 2, 2008 as Reception No. 545394 and also recorded January 3, 2008 as Reception No. 545472. 31. Deed Restriction by Fox Crossing Partners LLC and Ci[y of Aspen Colorado recorded February 2, 2006 as Reception No. 520466. 32. All matters shown on the Condominium Map of Fox Crossing Lot 10 Condominiums recorded 33. Condominium Declaration of Fox Crossing Lot 10 Condominiums recorded Order Number: FOXCROSa 10 r +~. ALTA Commimmnt(NIL06)-gcheduleB2 I tltb guaranty mmpvy Page 7 of 3 ~.. ,.~. r..i DISCLOSURES ~ -~~ Ordtt Number. FOXCROSS 10 Note: Pursuant ro C.R.S. 10-11-122, notice is hereby given that: A. The subject real property maybe located in a special taxing district; B. A certificate of taxes due listing each taxing jurisdiction shall be obtained from the county treasurer or the county treasurer's autlsorized agent C. Information regarding special districts and the boundaries of such districts may be obtained from the board of county commissioners, the county clerk end recorder, or the county assessor. Note: Colorado Division of Insurance Regulafions 3-5•l, Subparagraph (7) (E) requires that "Every fide entity shell be responsible for aE metttts which appear of rerord prior to the tim of tecordiog whenever the title entity coMucts the closing end is responsible for recording or filing of legal documents reaultirtg from the transaction which was closed." Provided that Stewart Title of Colorado, Inc, conducts the closing of the insured transaction and is responsible for recording the Icgal documents from the fraosaction, exception number 5 will not eppem on the Owntt's Title Policy and the Lender's Title Policy when issued. Note: Affimutive Mechanic's Lien Protection (or the Owner may be available (typically by deletion of Exception No. 4 of Schedule B, Section 2 of the Commitmrnt from the Owner's Policy to be issued) upon compliance with the following conditions: A. The IoM described in Schedule A of this commitrnent must be asingle-family residence, which includes a condominium or townhouse unit. B. No labor or materials have been furnished by mechanics or materialmen for purposes of coretructioo on the land described in Schedule A of [his Comrtdtment within the past 6 monhs. C. The Company must receive an appropriate affidavit indemnifying the Company against unfilled mecfianic's and Materialmen's Liens. D. The Corrrpany must receive payment of the appropriate premium E. If there has bem construction, improvements or major repairs undertaken an the property ro be purchased, within six months prior ro the Date of the Comvritment, the requuments ro obtain coverage for unrecorded liens wiE urclude: disclosure of certain comtrrution information; financial information as ro the seller, the builder and/or the contractor; peymrnt of 16c appropriate premium; fully exewted IMemoity egreementa satisfactory to the company; and, any additional requirements as may be nerossary after an examination of the aforesaid information by the Company. No coverage wiE be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant ro C.RS. 10.1 1-123, notice is hereby given: A. That there is recorded evidence that a mineral estate has been severed, leased or otherwise conveyed from the surface estate and that Nere is a substantial likelihood that a thud party holds some or all inlercst in ail, gas, other minerals, or geotfiemul emrgy in the property; and B. That such mineral estate rosy include the right to enter and use the property without the surface owner's pemrission. This notice applies [o owner's policy commimcents containing a mhrcral severance instnunent exception, or exceptions, in Schedule B, Section 2. NOTHING HEREIN CONTAINED N7LL BE DEEMED TO OBLIGATE THE COMPANY TO PROVIDE ANY OF THE COVERAGES REFERRED TO HEREIN UNLESS THE ABO VE CONDITIONS ARE FULLY SATISFIED. Orda NumM: FOXCROS510 Diulosures ,^ `"` ~,, 4,s Stewart Title Guaranty Company Privacy Policy Notice PURPOSE OF THIS NOTICE Tile V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about you with a nonaffiliated third party unless the institution provides you with a notice of its privacy policies and practices, such as the type of information that it collects about you and the categories of persons or entities to whom it may be disclosed. In compliance with the GLBA, we are providing you with this document, which notifies you of [he privacy policies and practices of Stewart Title Guaranty Company . We may collect nonpublic personal information about you from the following souroes: • Information we receive from you, such as on applications or other forms. • Information about your nansac[ions we secure from our files, or from our affiliates or others. • Information we receive from a consumer repoRing agency. • Inforna[ion that we receive from others involved in your transaction, such as the real estate agent or lender. Unless it is specifically stated otherwise m an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you. We may disclose any of the above information that we collect about our customers or former customers to our affiliates or to nonaffiliated third paRies as pemtitted by law. We also may disclose this information about our customers or fomter customers to the following types of nonaffiliated companies that perform marketing services on our behalf or with whom we have join[ marketing agreements: • Financial service providers such as companies engaged in banking, consumer finance, securities and insurance. • Non-financial companies such as envelope staffers and other fulfillment service providers. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal information about you to those employees who need to know [ha[ information in order to provide products or services to you. We maintain physical, electronic, and procedural safeguazds that comply with federal regulations to guazd your nonpublic personal information. .w. , Stewart Title of Colorado, Inc. Privacy Policy Notice PURPOSE OF THIS NOTICE Title V of the Gramm-Leach-Bliley Act (GLBA) generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about you with a nonaffiliated third party unless the institution provides you with a notice of its privacy policies and practices, such as the type of information that it collects about you and the categories of persons or entities to whom it may be disclosed. )n compliance with the GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of Stewart Title of Colorado, Inc. We may collect nonpublic persona] information about you from the following sources: Information we receive from you, such as on applications or other forms. Information about your transacfions we secure from our files, or from our affiliates or others. • hdorma[ion we receive from a consumer reporting agency. • Information that we receive from others involved in your transaction, such as the real estate agent or lender. Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you. We may disclose any of the above information that we collect about our customers or former customers [o our affiliates or to nonaffiliated third parties as permitted by law. We also may disclose this information about our customers or fomter customers to ttte following types of nonaffiliated companies that perform marketing services on our behalf or with whom we have joint marketing agreements: Financial service providers such as companies engaged in banking, consumer finance, securities and insurance. • Non-financial companies such as envelope staffers and other fulfillment service providers. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. ,.,. .w.~ Stewart Title of Colorado, Inc. DISCLOSURE The title company, Stewart Title of Colorado, Inc. - in its capacity as escrow agent, has bcen authorized to receive funds and disburse them when all funds received are either: (a) available for immediate withdrawal as a matter of tight from the financial institution in which the funds are deposited, or (b) are available for immediate withdrawal as a consequence of an agreement of a financial institution in which the funds aze to be deposited or a financial institution upon which the funds aze to be drawn. The title tympany is disclosing to you that the financial institution may provide the title company with computer accounting or auditing services, or other bank services, either directly or through a separate entity which may or may no[ be affiliated with the title company. This sepazate entity may chazge the financial institution reasonable and proper compensation for these services and retain any profits there from. The title company may also receive benefits from the financial institution in the form of advantageous interest rates on loan, sometimes referred to as preferred rate loan programs, relating [o loans the title company has with the fnancial institution. The title company shall not be liable for any interest or other chazges on the earnest money and shall be under no duty to invest or reinvest funds held by it at any time. In the event that the parties to this transaction have agreed to have interest on earnest money deposit transferted to a fund established for the purpose of providing affordable housing to Colorado residents, then the earnest money shall remain in an account designated for such putpose, and the interest money shall be delivered to the title company at closing. ,-., ,,~, ...~ CONDITIONS 1. The temt mortgage, when used herein, shall include deed of tmst, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecfing the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to [he Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of [his Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to pazagrapfi 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) [o comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) [o acquire or create the estate or interest or mortgage [hereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions from Coverage of [he form of policy or policies committed for in favor of the proposed Insured which aze hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action [hat the proposed htsured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by [his Commitment must be based on and are subject to the provisions of this Commitment. 5. The policy to be issued contains an arbitration clause. Al! arbitrable matters when the Amount of Insurance is 81,000,000 or less shall be arbitrated a1 the option ojeither the Company or fhe Insured as the exclusive remedy ojthe parties. You may review a copy ojthe arbitration rules at< h[ta: //www. al ta. oreh. ~~~ title guaranty company Al] notices required to be given the Company and aoy sutement in writing requred to be famished the Company sball be addressed to it at P.O. Boz 2029, Housmn, Texas 77252.