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Landuse Case.CO.1150 Cemetery Ln.0082.2011.ASLU
THE CITY OF ASPEN City of Aspen Community Development Department CASE NUMBER 0082.2011.ASLU PARCEL ID NUMBER NO PARCEL PROJECTS ADDRESS 1150 CEMETERY LANE (CONDOS) PLANNER CHRIS BENDON CASE DESCRIPTION CONDO PLAT VACATION REPRESENTATIVE BART JOHNSON DATE OF FINAL ACTION 12.22.11 CLOSED BY ANGELA SCOREY ON: 12.22.11 After recording, retum to: Waas Campbell Rivera Johnson & Velasquez LLP Attn: J. Bart Johnson, Esq. 420 East Main Street, Suite 210 Aspen, Colorado 81611 TERMINATION OF CONDOMINIUM REGIME THIS TERMINATION OF CONDOMINIUM REGIME (this "Termination ") is made as of the d-O-, day of December, 2011, by ROARING FORK REAL ESTATE SOLUTIONS III, LLC, a Colorado limited liability company ( "Owner "). Recitals A. On December 17, 1965, a Plat of the Pitkin Mesa Subdivision (the "Original Plat") was recorded in Plat Book 3 at Page 58 as Reception No. 122838 in the real property records for Pitkin County, Colorado (the "Records "), which Original Plat created, among other things, Lot 3, Block 2, Pitkin Mesa Subdivision, County of Pitkin, State of Colorado (the "Property"). B. Beginning on or about February 2, 1976, a series of condominium documents were recorded in the Records, establishing a condominium regime on the Property (the "Condominium Regime "). These documents included: (i) Condominium Declaration for Double Shaft Condominiums (A Condominium) recorded on February 2, 1976, in Book 308 at Page 280 as Reception No. 181288, as amended by the First Amendment to Condominium Declaration for Double Shaft Condominiums (A Condominium) recorded on September 18, 1978, in Book 355 at Page 18 as Reception No. 207479 (as amended, the "Declaration "); and (ii) Condominium Map of Double Shaft Condominiums recorded on February 2, 1976, in Plat Book 4 at Page 563 (the "Condominium Map "). C. Pursuant to Section 3 of the Declaration and as shown on the Condominium Map, the Property (together with the Building (as defined in the Declaration) thereon) was divided into two (2) separate fee simple estates, each consisting of one (1) condominium unit, which units were designated as "Unit 101" and "Unit 102 ", respectively (collectively, the "Condominium Units "). D. Owner is the current owner of both Condominium Units. Owner owns the Condominium Units free and clear of all liens and financial encumbrances. E. In or about 2005, the Building (as defined in the Declaration) on the Property was demolished, as approved by the City of Aspen (the "City") pursuant to Demolition Permit No. 0090.2005.ARBK issued on June 10, 2005. As a result, the Property currently consists of vacant land. F. Owner desires to terminate the Condominium Regime and revoke the Declaration in accordance with the terms thereof. Section 18 of the Declaration provides that the Declaration (00007133 / 1 • may be revoked by a written agreement (i) executed by the owners of both Condominium Units, as well as any mortgagees under any recorded deeds of trust affecting the Condominium Units, and (ii) duly recorded in the Records. Termination NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Owner covenants and agrees as follows: 1. Termination and Revocation. The Declaration, the Condominium Map, and the entire Condominium Regime established on the Property are hereby terminated, revoked and vacated in their entireties effective as of the date of this Termination. 2. Owner Representation and Consent. Pursuant to Section 18 of the Declaration, any revocation of the Declaration must be consented and agreed to by the owners of both Condominium Units, as well as the holders of recorded deeds of trust covering or affecting either or both of the Condominium Units, if any. Owner represents that it is the record owner of both Condominium Units and that neither Condominium Unit is subject to any recorded deeds of trust, liens, or other financial encumbrances. By its execution hereof, Owner agrees and consents to the terms and provisions of this Termination. 3. City of Aspen Consent. By its execution hereof, the City consents to and approves the terms and provisions of this Termination. 4. Legal Description. Under the Condominium Regime, the Property was legally described as follows: CONDOMINIUM UNITS 101 and 102, DOUBLE SHAFT CONDOMINIUMS, according to the Condominium Map thereof recorded February 2, 1976 in Plat Book 4 at Page 563, and as defined and described in the Condominium Declaration for Double Shaft Condominiums recorded February 2, 1976 in Book 308 at Page 280 and First Amendment for Double Shaft Condominiums recorded September 18, 1978 in Book 355 at Page 18, County of Pitkin, State of Colorado. Upon the recordation of this Termination as contemplated by Section 4 below, the legal description of the Property will revert to its legal description as set forth on the Original Plat, such that the Property will be legally described as follows: Lot 3, Block 2, Pitkin Mesa Subdivision, according to the recorded Plat thereof recorded December 17, 1965 in Plat Book 3 at Page 58 as Reception No. 122838, County of Pitkin, State of Colorado. 5. Recordation. Pursuant to Section 18 of the Declaration, this Termination shall be recorded in the real property records of Pitkin County, Colorado. {00007133/I ) 2 . �, 401%, d d IN WITNESS WHEREOF, Owner has executed this Termination as of the date first above written. OWNER: ROARING FORK REAL ESTATE SOLUTIONS III, LLC, a Colorado limited liability company By: Name: Bill White Title: Manager STATE OF COLORADO ) ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this 7 40 day of December, 2011, by Bill White as Manager of Roaring Fork Real Estate Solutions III, LLC, a Colorado limited liability company. Witness my hand and official seal. My commission expires: c ri'acs hc,\Th • 1 . 1) Nota Public �J NICOLE BROWN NOTARY PUBLIC STATE OF COLORADO My Commission Expires 05/29/2012 {00007133 / 1 } 3 Consented to and approved by: CITY: CITY 0 ASPEN, COLORADO By s. Name: Chris Bendon Title: Community Development Director STATE OF COLORADO ) ) ss. COUNTY OF PITKIN ) 1 The foregoing instrument was acknowledged before me this- day of December, 2011, by Chris Bendon as Community Development Director of the City of Aspen, Colorado. Witness my hand and official seal ^ My commission expires: 0 /I'9 / 815 ✓ .! L - a' Aks.a/ ary Public leo i > co q �'•� i (00007133 / I) 4 /�// L No far ©o82 • 20 11 . AS t--% a � "'1 , ;-: ,, , , 7 11 14 i�^€�'1 aw,� i y, 4. x(21 e ' -Y^ a 'f e„� "� File Edit Record Navigate Farm Repats Format Tab dela i OJ►x # ►v �l' ®jAd• �n 4 1 I i'rp : �l €0 1 » Atli +I I 'Fee immix n pais 'Absents lb*);"fay lisuaton I /El% IcitomFos IsubP_nmts a ,. , . Land Use rr ;2.2011.ASLU 150 CEMETERY LN . , . II 0 k i _ 3 tT`k 1t '' ' ti�� "` �,. a' . ; :,. N S F 1 f } t" , s r 4 , . , �7 am ' E moi2o1 1' i 1 ' � pe APPLICATION FOR CONDO PLAT VACATION laid Closed l d }ART JOHNSON I Clock unrung Days n E,pras 112114!2012 - I Stbribrd Nor Last name (ALPINE BANK ASPEN I Frst name PO BOX 350 BASALT CO 81621 Phone I( ) - Aderess ' Appicant ❑ Owrer is applicant? p Corrado( is applicant? II Last name ORK REAL ESTATE SOLUT I Frst name I31LL WHITE 600 E HOPIINS 001 I phone (970) 429.2114 Curt *129106 Address ASPEN CO 81611 Lender Last name I Frst name Phone () - Address Degiays the prowl knees adieu AsPoradIS twig) _,aVels.31 L ig1 • ;; ( • /et I RR B ) ,4w. 3 (S`6 Rc—LPV 3°t ( WAAS CAMPBELL RIVERA JOHNSON &VELASQUEZE J. Bart Johnson 970.544.4602 johnson @wcrlegal.com December 20, 2011 VIA ELECTRONIC MAIL Chris Bendon Community Development Director City of Aspen Planning and Zoning 130 South Galena Street, 3` Floor Aspen, Colorado 81611 Chris.Bendon@ci.aspen.co.us Re: Application to terminate condominium regime for the Double Shaft Condominiums ( "Condominium Regime "), established on the real property legally described as Lot 3, Block 2, Pitkin Mesa Subdivision, Pitkin County, Colorado and commonly known as 1150 Cemetery Lane, Aspen, Colorado (the "Property "), which Property is owned by Roaring Fork Real Estate Solutions III, LLC, a Colorado limited liability company ( "Applicant ") Dear Chris: This firm represents Applicant in connection with the termination of the Condominium Regime, which was established on the Property beginning in 1976. Applicant, an affiliate of Alpine Bank, owns the Property free and clear of all liens and other financial encumbrances. In or about 2005, the building on the Property was demolished with City of Aspen ( "City ") approval pursuant to Demolition Permit No. 0090.2005.ARBK issued on June 10, 2005, such that the Property currently consists of vacant land. As a result, Applicant (i) desires to terminate the Condominium Regime, as more specifically described in the document entitled "Termination of Condominium Regime" enclosed herewith (the "Termination "), and (ii) requests that the City consent to and approve the terms and provisions of the Termination. Please let this letter serve as Applicant's application for the City's consent to and approval of the Termination. In connection with your review and consideration of the Termination, enclosed are the following: 1. Termination of Condominium Regime, to be executed by Applicant and consented to by the City; 2. Plat of the Pitkin Mesa Subdivision recorded on December 17, 1965, in Plat Book 3 at Page 58 as Reception No. 122838 of the real property records for Pitkin County, Colorado (the "Records "); 3. Condominium Declaration for Double Shaft Condominiums (A Condominium) '. 300 SEVENTEENTH STAFF' SUITE 450 DENVER COLORADO 80207 M 720 351 -4700 F 720 351 4745 420 EAST MAIN STREET SUITE 210 ASPEN COLORADO 816 1 1 M 976- 544 -7006 F 066- 497 -0361 WCRLEGAL.COM a , Chris Bendon December 20, 2011 Page 2 recorded on February 2, 1976, in Book 308 at Page 280 as Reception No. 181288 of the Records; 4. First Amendment to Condominium Declaration for Double Shaft Condominiums (A Condominium) recorded on September 18, 1978, in Book 355 at Page 18 as Reception No. 207479 of the Records; 5. Condominium Map of Double Shaft Condominiums recorded on February 2, 1976, in Plat Book 4 at Page 563 of the Records; 6. Statement of Exemption from the Definition of Subdivision recorded on December 24, 1975, in Book 307 at Page 26 as Reception No. 180470 of the Records; and 7. Check payable to the City in the amount of $315.00, for review and consideration of the Termination. Please contact me to discuss any questions or concerns you may have with respect to the Termination and the City's consent thereto. Thank you in advance for your attention to this matter. Best regards, J. Bart Johnson for WAAS CAMPBELL RIVERA JOHNSON & VELASQUEZ LLP cc: Mr. Bill White, Alpine Bank (via e-mail) • Alpine Bank Aspen 600 East Hopkins Avenue, Suite 001 Aspen, Colorado 81611 970 - 920 -4800 Fax 970 - 920 -4274 Loan Fax 970 - 920 -3781 December 20` ", 2011 RECEIVED Chris Bendon, AICP Community Development Director DEC 2 0 2011 City of Aspen CITY OF ASPEN COMMUNITY DEVELOPMENT Chris, Please accept this letter from Alpine Bank/Roaring Fork Real Estate Solutions III, that Bart Johnson has been authorized to submit an application on our behalf to terminate the condo declarations currently associated with property located at 1150 Cemetery Lane, Aspen CO 81611. Feel free to call or email me with questions. Sincerely, Bill White Manager, Roaring Fork Real Estate Solutions III (970)- 429 -2114 www.alpinebank.com y T) After recording, return to: RECEIVED Waas Campbell Rivera Johnson & Velasquez LLP DEC 2 0 2011 Attn: J. Bart Johnson, Esq. CITY 420 East Main Street, Suite 210 COi11A1upjJy OF AS EN Aspen, Colorado 81611 >.^ PC PMW TERMINATION OF CONDOMINIUM REGIME THIS TERMINATION OF CONDOMINIUM REGIME (this "Termination ") is made as of the day of December, 2011, by ROARING FORK REAL ESTATE SOLUTIONS III, LLC, a Colorado limited liability company ( "Owner "). Recitals • A. On December 17, 1965, a Plat of the Pitkin Mesa Subdivision (the "Original Plat") was recorded in Plat Book 3 at Page 58 as Reception No. 122838 in the real property records for Pitkin County, Colorado (the "Records "), which Original Plat created, among other things, Lot 3, Block 2, Pitkin Mesa Subdivision, County of Pitkin, State of Colorado (the "Property"). B. Beginning on or about February 2, 1976, a series of condominium documents were recorded in the Records, establishing a condominium regime on the Property (the "Condominium Regime "). These documents included: (i) Condominium Declaration for Double Shaft Condominiums (A Condominium) recorded on February 2, 1976, in Book 308 at Page 280 as Reception No. 181288, as amended by the First Amendment to Condominium Declaration for Double Shaft Condominiums (A Condominium) recorded on September 18, 1978, in Book 355 at Page 18 as Reception No. 207479 (as amended, the "Declaration "); and (ii) Condominium Map of Double Shaft Condominiums recorded on February 2, 1976, in Plat Book 4 at Page 563 (the "Condominium Map "). C. Pursuant to Section 3 of the Declaration and as shown on the Condominium Map, the Property (together with the Building (as defined in the Declaration) thereon) was divided into two (2) separate fee simple estates, each consisting of one (1) condominium unit, which units were designated as "Unit 101" and "Unit 102 ", respectively (collectively, the "Condominium Units "). D. Owner is the current owner of both Condominium Units. Owner owns the Condominium Units free and clear of all liens and financial encumbrances. E. In or about 2005, the Building (as defined in the Declaration) on the Property was demolished, as approved by the City of Aspen pursuant to Demolition Permit No. 0090.2005.ARBK issued on June 10, 2005. As a result, the Property currently consists of vacant land. {00007133 / 1 } F. Owner desires to terminate the Condominium Regime and revoke the Declaration in accordance with the terms thereof. Section 18 of the Declaration provides that the Declaration may be revoked by a written agreement (i) executed by the owners of both Condominium Units, as well as any mortgagees under any recorded deeds of trust affecting the Condominium Units, and (ii) duly recorded in the Records. Termination NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Owner covenants and agrees as follows: 1. Termination and Revocation. The Declaration, the Condominium Map, and the entire Condominium Regime established on the Property are hereby terminated, revoked and vacated in their entireties effective as of the date of this Termination. 2. Owner Representation and Consent. Pursuant to Section 18 of the Declaration, any revocation of the Declaration must be consented and agreed to by the owners of both Condominium Units, as well as the holders of recorded deeds of trust covering or affecting either or both of the Condominium Units, if any. Owner represents that it is the record owner of both Condominium Units and that neither Condominium Unit is subject to any recorded deeds of trust, liens, or other financial encumbrances. By its execution hereof, Owner agrees and consents to the terms and provisions of this Termination. 3. Legal Description. Under the Condominium Regime, the Property was legally described as follows: CONDOMINIUM UNITS 101 and 102, DOUBLE SHAFT CONDOMINIUMS, according to the Condominium Map thereof recorded February 2, 1976 in Plat Book 4 at Page 563, and as defined and described in the Condominium Declaration for Double Shaft Condominiums recorded February 2, 1976 in Book 308 at Page 280 and First Amendment for Double Shaft Condominiums recorded September 18, 1978 in Book 355 at Page 18, County of Pitkin, State of Colorado. Upon the recordation of this Termination as contemplated by Section 4 below, the legal description of the Property will revert to its legal description as set forth on the Original Plat, such that the Property will be legally described as follows: Lot 3, Block 2, Pitkin Mesa Subdivision, according to the recorded Plat thereof recorded December 17, 1965 in Plat Book 3 at Page 58 as Reception No. 122838, County of Pitkin, State of Colorado. 4. Recordation. Pursuant to Section 18 of the Declaration, this Termination shall be recorded in the real property records of Pitkin County, Colorado. {00007133 / 1 } 2 IN WITNESS WHEREOF, Owner has executed this Termination as of the date first above written. OWNER: ROARING FORK REAL ESTATE SOLUTIONS III, LLC, a Colorado limited liability company By: Name: Bill White Title: Manager STATE OF COLORADO ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this day of December, 2011, by Bill White as Manager of Roaring Fork Real Estate Solutions III, LLC, a Colorado limited liability company. Witness my hand and official seal. My commission expires: Notary Public (00007133 / 1 } 3 C.; Consented to and approved by: CITY: CITY OF ASPEN, COLORADO By: Name: Chris Bendon Title: Community Development Director STATE OF COLORADO ) ) ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this _ day of December, 2011, by Chris Bendon as Community Development Director of the City of Aspen, Colorado. Witness my hand and official seal. My commission expires: Notary Public {00007133 / 1) 4 . r� �,., §§ a 1 i � f t� 3+� l :C P ! Fi 1n hill d Y9 1. ;b $� o e i' ede}!e _ 31 hO$ , 9 s a n, a r. 2 g 3 r0.4g1je y d 4 , e, }} h ° a y a z $ “ 6 -tii9 ! 4 a 9 S d k , ��b a '4 § 1 1, €1iiii i 1 it !' ¢ i i 1 j. 3e]]1yt 9 sYsPl1e R si VI $ §7" bS 1 Sal id ;g b Y6 li . 5 a !i z b ii g @ this i0 At 11 Is 1 a e E Ill ' C e ye , ,a♦ 4 _.v F 4 4 I of e I� � 4 I WI 'f* y ■ t !y rS � 3 P Iii 1 s' m i , F 8 9 9 Q Z jft III 2 ,y LL O 222555 1•o h1 o i }} ��// _ III R 3 4 , a J � g d I Ug ii93hI i1 p �, �W ]M ... - • d ..., a- of t. W f C 4 , d ,.... , 0 7 t v.i.... , I I d ....( I I I I II IIIII I i \ i 11 III ill i $ 1 Id" 1 14.1. = 1 M.. 1 r....- t P 1 1 i I Ili I $ 4 III h , IL I I II li ..; a a ' a 1 .. 1 All ; I 1 11, I I I I 11 lii • - A ?., i pviim ill 1 . it liPl" 0 .., i l l .... . 1 , i d1111 DM/Alt:10 ! Lnlownroxama 1 1 ti3aWl}"A j IDavor. 9N14411411:1 , C • 1 t 3114 ed 4 R6cor a w p.a., Sept 18, 1978 Loretta Banner Recorder 1 1 {SS Reception Numbert 207479 S, 'Ai/ 18 .f (090 vi. titosf-e .. FIRST AMENDMENT TO CONDOMINIUM DECLARATION FOR Y ik DOUBLE 'SINFT CONDOMINIUMS i (A Condominium) I r KNOW ALL MEN BY THESE PRESENTS' BFI WHEREAS, JAMES J. MOLLICA, GEORGE E. MANUEL and E PATRICIA R. MANUEL, as Declarants, did execute and cause to be recorded in Book 308 at page 280 of the records of Pitkin County, is ttI Colorado, a Condominium Declaration for Double Shaft Condominiums '' (the "Condominium Declaration ) " , and as an incident thereto also ' p executed and recorded the Condominium Ma • Map (the "Condominium Map") 1 • for the said Double Shaft Condominiums in Plat Book 4 at page 563 of those records) and, WHEREAS, subsequent to the recording of the Condominium Declaration and Condominium bap above referred to, Declarants J George E. Manuel and Patricia R. Manuel, being the fee simple f owners of Condominium Unit No. 101 of the Double Shaft Condomin- sums, have caused to be erected an enlargement or addition to the I said Condominium Unit No. 101, which said enlargement encroaches upon the common elements comprising the project, as defined by 4 the Condominium Declaration and Condominium Map' and, ,j j WHEREAS, Condominium Unit No. 102, fee simple title -. to which was formerly owned by James J. Monica, has now been Moica, conveyed to Ann T. Caffray, Trustee for Ann T. Caffrey Trust dated May 27, 1976: and, WHEREAS, the undersigned, being all persons having '1 or ever having an ownership interest in the project, are desirous I of amending the Condominium Declaration and Condominium Map in order to accommodate said addition or enlargement the intent . , 1 j being that the same shall be henceforward considered to be part st of Condominium Unit No. 101, and no longer constitute a part of the common elements, all in accordance with the definitions con- . 1 tained in the Condominium Declaration: and, 1 } to ,t; ta ` • , ) 0 rei e tox35'S mt 19 • ks WHEREAS, all mortgagees of condominium units within ci the Double Shaft Condominiums are willing to consent to such amendment. 71: NOW, THEREFORE, the undersigned do hereby amend the qA. recorded Condominium Declaration as follower 1 1. The Condominium Map is hereby amended by the First - F# Amendment (the "First Nap Amendment ") thereto recorded in Doak a: at page of the records of Pitkin County, Colorado. S 2. Those portions of the common elements as shown on ft • the Condominium Map, as such are shown on the First Map Amendment, r as being and forming a part of Condominium Unit No. 101 shall i henceforth be construed to be and constitute a part of said ` ++ • i [Condominium Unit No. 101, in accordance with the definitions as contained in the Condominium Declaration, the intent being that the interior air space of said unit as shown in the First Map Amendment will constitute a part of Unit 101, and the structural + V and other generally and specifically defined common elements of _ the said addition or enlargement shall be construed in accordance with definitions contained in the recorded condominium Declaration or as may be specified by the First Map Amendment. ] . N' 3. That in all other respects not identified and ? treated here the Condominium Declaration herein referred to is , in all respects ratified and confirmed. - IN WITNESS WHEREOF, Declarants have duly executed this First Amendment to Condominium Declaration this 24 day / ,f of 7y(y , 1978. ��,,��� yy�� . '/ /�� ( Mollica r i �� T�jI _ c E. !". fit .. . ..�.( // 1 f;, George e R. Manue t ? \ P rim a Manue ;,t Ann T. Caffrey, s f A nn T. '-. Caffrey Trust e ay 27, 1976 • 1 _2_ � ,, • 4: I: .....__ __ _ ... t 1 - . •. , 7) . . i. i • . et • • 1 . p . • . %.1.1 - ....- • v ■ i?. . I1/4 355 Mt 20 .- STATE OF COLORADO ) ) sst COUNTY OF PITXIN ) et .-. ' • -:- fl The fore oing instrument was acknow10900 c 40. A this 22 day of a • 1978, by JAMES J. MOLLICArk:N. ;;.•• My co ssion expires: 1-/V 82 • ... ,,:, ID) kt ,- '. - , • - ;v. - -,.. ,, WITNESS my hand and official seal. f f. ci , ...31 - '' ..; . ..N- -:"&•-•:;:,.',..::: 7. -- .,- illet ta - ry: , o • • i n : ; 1$ ) t. STATE OF COLORADO . ) ss: . ; . • COUNTY OF PITKIN ) The foregoing instrument was acknowledged beIore me i , .klap/P•440. day of , 1978, by GEORGE E. MANUEL and - •! ;fey,' pATRItIX R. MANUEL. 2I,' L: - c ).• li )9 %".: 14 y commission expires: Away 4, M -I ' -‘' : .: WITNESS my hand and official seal. •.: .. ••"cr .? ... 1.62• .4.-- . L AeZe".. 1.• STATE OF CALIPORNIA ) ) sst COUNTY OFLOS ANGELES ) - The foregoing instrument was acknowledged before me I this 25th day of August • 1978, by ANN T. CAPFRAY, Trustee ' t for Ann T. Caffray Trust dated May 27, 1976. ,.. i l ..:- My commission expirest December 5 IALE OFFIC ZIAL WITNESS my hand and official seal ,r,./.1 PATRICIA S. MAlIAMA ' 1' -- • 1 . 01 Afor PUNA • cAutore ' . - 1; 4 7`,3° MS Kalia MOW 494,;.,,, /14.1.4.2e-l et ) Mr mat NMI DEC k I ' - ) CONSENT OF MORTGAGEES ., . .1 The undersigned, being the duly authorised agents of I.■ the undersigned mortgagees, hereby consent to the First Amendment tt •.? to the Condominium Declaration of Double Shaft Condominiums above made. • Unit 101: CAMBRIDGE SAVINGS AND LOAN • II ASSOCIATION, 0111485 1) , ONIO .I... Datedi / IS By , / Title i : 1 Unit 102: ASPEN SAVINGS AND LO ASSOCIATION I ': “ Dated, 2 - 2- ..7 ili BI>esel ,. Qa—fr_ I . ,i 112E•S /12/4/Vt t g. . . : : • , I pi . I II: gr:,.; 'in 1>a - • ,:,ff,;;U::- ......N H 0 u*, 'T 1 . , • !:. .0355 att. 2.1 'i STATE OF Ohio ) COUNTY OF T Ou h o e rn: or ey coning ins t .. asac rr t A ow . c acknowledged before me t ■ .c [ this 31st , day of _Ju as ••.`. • .Prestdont o l , by ta CAURIDGE SAYINGS AND LOAN ta / vii•:. CAMBRIDGE, OHIO. c• i Fe ' My commission expires: July 1 1983 I '1/4‘ . ..ett I • Pt.:. • 'it ,,. ,4:ifitk [....„ : - , t WITNESS my hand and official seal. atama N mor,,,F.. it 1.7 STATIC OF COLORADO ) eft I : . ) as a .. COUNTY OF PITKIN ) •,! fo ing instrument was acknowledge before1nd' .. II • this ( --,g7 day of i e_ , 1978, by /We/eisr , /..e/Mnegiliww "‘ I o SPEN SAVINGS AND LOAN ASSOCIRTA0V„, .90 4.V. . ' I I7 .... t e My commission expires! )0_ ? i dJ110/70 PI! . WITNESS my hand and official eal. • s .. :"..• • j ' t • 101 410‘ \ -;it la jta....) .....‘' Notary Pu• 0 . : 444 *:) ;u i ' .. 1 1 A it ts ■-.) ia 1... . : ;.. I I \--.... . ... ■ i , t . '. 1 • 1+ 11- ,,!•.1,:!4'i'.. Recorded at 1:40 P.M., December 24, 1975 -by Julie Beee,P.ecotder ! Reception No. BOWC307 PAGE , - 180470: STATEMENT OF EXEMPTION FROM THE DEFINITION OF SUBDIVISION: WHEREAS, JAMES .MOLLIC4. and " trik !4M DEL have made application, pursuant to Section 20-1'1 the Asper' Municipal Code, for an exemption from the definition of subdivision for the condominium:ization of a duprox structure situate on. the t ` following described property located -in Pitkin County, Colo- rado, to wit: Lot 3, Block 2, Pitkin Mesa Subdivision, Aspen, Colorado, AND WHEREAS, the Planning and Zoning Commissioa 'e- commended approval of such exemption, :subject.to certain con- ditions, and the City Council has ratified such approval, but accepted some, and rejected other, conditions imposed the Commission, THEREFORE? PLEASE TAKE" NOTE, LY:at tbe.Aspen city Council, at its meeting held Monday-,/December 22',119 r8, did grant -an exemption from definition of subdivis,ioti'to the coed: :min .gym ization of the;..auplex structure sit;aii c. on that pat••.1 ;f a: d hereinabove described;,prov&ded,. however, that such exemption ' was conditioned as follows; 1. That the applicants affirmatively consent to and . join in the formation of any.speoi. ;a•1-rovement district, encompassing all or any part of the tract hereinabove described, that may hereafter be proposed or formed for.the'.construction of street improvements (including ciidowalk,'curby gutter or paving) or the undergrounding•of overhead utility lines; and waive and further. covenant and agfee to waive any =right of protest against the formation of arty : siic:h . district . , i PAGf gom3O7 pAcE 27 • 2. That the applicants agree that,-in the :vent the City, at any time or from time to time, .shall'constru.t or install any improvements describe& in ?aragraph l abov4,(including 1 undergrounding of utilities) .ri.thout the of a special r assessment district, they will .raimburse the ; City, upon demand, for that portion of.the actual cost of auch improvements which is properly allocable to the above described property. 3i Thattheconditions imposed on the applicants shall o, be deemed covenants and run with the land, shall burden the land for which this exemption is granted, and -shall bind and be specifically enforceable against all and.::subsequent owners hereof, including the Applicants, :their successors in interest and assigns. 1, THIS NOTICE is given this 23rd. day of December, 1975. ium- nd 5taci Stgrdley 222 ATTEST: . - Ma y o { n 1 ; c A 4 ,.. L th -Xy1M ... Acting City Clerk STATE•OF COLORADO ) - - - bed, _ .. •) ss �n - - COUNTY OF -PITKIN ) The foregoing STATEMENT OF EXEMPTION FROM THE DEFINITION I OF SUBDIVISION was acknowledged before tae !i is 23rd. day of December,. 1975, by STACY STANDLEY III and LIZABETH KYLM, known to me to be the Mayor and City Cleo of the City of Aspen, Colorado. Witness my hand and official s(al. My Commission ex- , _pires October 1; 1979. / .£ex Nota ! Public OF r • e v z Ns r'f„'z t j p� t.lr D ' }7 gal D OXEN ION DECLARATION $ couBLE.snium CONDOMINIUMS * - (A Condoslinium) • c" 4 r fl THESE PRESENTS - - KHEREAS, JAMES J. MOLLICA,. GEORGE E. MANUEL and I ty F °R. hereafter called. the " Declarants,' are the p1' th�owing described real property situate in the 1, 4f1-Pitkin, State of Colorado: LOT 3, BLOCK 2, PITHIN MESA SUBDIVISION - : WHEREAS, Declarants desire to establish a condominium F ='' ect under the Condominium Ownership Act of the State of , .: WHEREAS, Declarants. have purchased a building and OP, other improvements appurtenant thereto on the above - described robber y which shall consist of two separately designated . , I; � UM Units; and A WHEREAS, Declarants do hereby establish a plan for the ownership in fee simple of real property estates consisting of the areator -space contained in each of the Apartment Units in x °^ the building improvement, and the co- ownership by the individual and separate owners thereof, as tenants in common, of all of the remaining real property hereinafter defined and referred to as the Common Elements; (W .t) NOW THEREFORE, Declarants do hereby publish and '.4'e'44 ir declare that the following terms, covenants, conditions, `""- easements, restrictions, uses, limitations and obligations shall be deemed to run with the land, shall be a burden and a benefit 'to Declarants, Declarants' heirs, personal representatives, successors and assigns and any persons acquiring or owning an interest in the real property and improvements, their grantees, successors, heirs, executors, administrators, devisees or assigns. 1. DEFINITIONS. Unless the context shall expressly provide otherwise, the following definitions shall apply: (a) "Apartment," 'Apartment Unit,' or "Unit" means an individual air space which is contained . - - within the unfinished interior surfaces of the perimeter walls, floors, ceiling, windows and doors of the Dwelling Units in the building as shown on the Map and any amended Map to be filed for record, together with all fixtures and improvements therein ' - - contained but not including any of the structural componentsof the building, if any, within a unit, and including the garage area as constructed, if any. (b) "Condominium Unit" means an apartment together with the undivided interest in the General and Limited Common Elements appurtenant to such - apartment. 2 eom(�8 ?Aa28l . (c) "Owner" means a person, firm, corporation, partnership, association or other legal entity, or any combination thereof, owning one or more - Condominium Units; the term "owner shall not refer to any Mortgagee, as herein defined, unless such Mortgagee has acquired title pursuant to • foreclosure or any proceeding in lieu-of foreclosure. (d) "Mortgage" means any mortgage, deed of trust, or Other security instrument by which a Condominium Unit or any part thereof is encumbered. (e) "Mortgagee" means any person named as the Mortgagee or beneficiary under any mortgage which encumbers the interest of any Owner. (f) "Common Elements" means: (1) The real property upon which the building is located; (2) The foundation, columns, girders, beams, supports, main walls, roofs, crawlspaces and the "party wall" as shown on the Map; (3) The installations consisting of the equipment and materials making up the central services such as tanks, pumps, motors, fans, compressors, ducts, power, sewer, light, gas, hot and cold water, heating, ventilating and air conditioning and, in general, all apparatus and b installations existing for common use; (4) Such partly or entirely enclosed air- '! spaces as are provided for community or common use; (5) All other parts of the property necessary or convenient to its existence, maintenance and safety\or normally in common use. (g) "General Common Elements" means those parts of the Common Elements which are not designated as "Limited Common Elements." (h) "Limited Common Elements" means those parts of the Common Elements reserved for the exclusive use of the Owners of less than all of the Condominium Units in the building. The surface and airspace above the portions of the ground designated "Exclusive Use Area" for the respective Units are Limited Common Elements. (i) "Entire Premises," "Premises," "Project" or "Property" means and includes the land, the building, all improvements and structures thereon, and all rights, easements and appurtenances belonging thereto. (j) "Common Expenses" means and includes: (1) All sums lawfully assessed against the General Common Elements; t • "a eo0KB pat (2) Expenses of administration and management maintenance, repair or replacement of the General Common Elements;. ' (3) Expenses declared common expenses by the Unit Owners. (k) "Map" means ire Condominium Map referred to . in paragraph 2 below. (1) "Building" means the building improvement comprising a part of the property. (m) The title "Managing Agent" shall refer to the person, firm or entity which shall be selected and appointed by the Owners of the Condominium Units in accordance with the provisions of Section 14 of this Declaration. 2. CONDOMINIUM MAP. Declarants shall' cause to be 1111 filed for recorWMap. The Map shall depict and show at least the following: The legal description of the land and a survey if thereof; the building and the location of the Units within the ;! building; the perimeter boundary of each Unit; the Unit numbers '! or other designation. The Map shall contain the dual certificate; of a registered engineer certifying that the Map substantially 1 depicts the layout, measurements and location of the Building, A the Units, the Unit designations, the dimensions of such Units and that the Map was prepared subsequent to substantial comple- tion of the improvements depicted. In interpreting the Condominium Map the existing • physical boundaries of each Unit as constructed shall be conclusively presumed to be its boundaries. Declarant reserves the right to amend the Map, from time to time, to conform same to the actual physical location of the constructed improvements and to any changes, modification or alterations. 3. DIVISION OF PROPERTY INTO CONDOMINIUM UNITS. The real property and improvements now constructed or to be constructed thereon are hereby divided into the following fee simple estates: Two (2) separate fee simple estates, each such estate consisting of one Apartment Unit, together with an appurtenant undivided one -half interest in and to the General Common Elements. The General Common Elements shall be held in common by the Owners thereof. Said Apartment Units are shown on the Map and designated' "Unit 101" and "Unit 102" respectively. 4. LIMITED COMMON ELEMENTS. A portion of the General Common Elements is set aside and reserved for the exclusive -use of the Owners of each Unit respectively, such areas being the Limited Common Elements. The Limited Common Elements reserved for the exclusive use of the individual Owners consist of the grounds and improve- ments (other than the Units) lying within the "Exclusive Use Areas" shown on the Map which shall, without further reference, be the Limited Common Elements associated and used with the Apartment Unit to which each such Exclusive Use Area is assigned -3- 8 re, h 8a8KJU0 PACE 017 rc • ` t All Limited Common Elements shall be used in �i ,s• -" ,- With the particular Apartment Unit to which it is . the Nap, to the exclusion of the use thereof by �Yr� rs of other Units except by invitation. +s ` 3 1a4 ' ' 5. INSEPARABILITY OF A UNIT. Each Unit and the ' nr an ra • Bed interest in the General Common Elements and the T I � d Common Elements, if any, appurtenant thereto shall be lierable and may be conveyed, leased, encumbered, devised or t 'Mb - -. iced only as a Condominium Unit. p 6. DESCRIPTION OF A. CONDOMINIUM UNIT. Every deed, e, mortgage, trust deed, will, or other instrument may 'r...1..%0* 'aa],1y describe a Condominium Apartment Unit by its identifying ';•� '� `;'Unit number, followed by the words "Double Shaft Condominiums" tj„"g further reference to the recorded Declaration and Map. o"= ,Every such description. shall be deemed good and sufficient for ' �1„ r ,,: ;' all purposes to sell, convey, transfer, encumber or otherwise " "'. affect not only the Unit but also the General Common Elements and the Limited Common Elements appurtenant thereto. Each such t � - , description shall be construed to include a non - exclusive 4 ),#, easement for ingress and egress throughout the General. Common r'go ` Elements together with the right to the use of the Limited 'If,.,3i Common Elements appurtenant thereto to the exclusion of all third parties not lawfully entitled to use the same. 7. SEPARATE ASSESSMENT AND TAXATION - NOTICE TO ASSESSOR. Declarants shall give written notice to the assessor of Pitkin County,Colorado, of the creation of condominium ownership of this property, as is provided by law, so that each Unit and the interests appurtenant thereto shall be deemed a separate parcel and subject to separate assessments and taxation. • 8. TITLE. A Condominium Unit may be held and owned by more than one person as joint tenants or as tenants in common, or in any real property tenancy relationship recognized under the laws of Colorado. 9. NONPARTITIONABILITY OF GENERAL COMMON ELEMENTS. The General. Common Elements shall be owned in common by all of the Owners of the Apartment Units and shall remain undivided, and no Owner shall bring any action for partition or division of the General Common Elements. Nothing contained herein shall . be construed as a limitation of the right of partition of a Condominium Unit between the Owners thereof, but such partition shall not affect any other Condominium Unit. 10. USE OF UNITS; GENERAL AND LIMITED COMMON ELEMENTS. • Each Owner shall be entitled to exclusive ownership and posses - sion of his Apartment. Each owner may use the General and Limited Common Elements in accordance with the purpose for which they are intended, without hindering or encroaching upon the lawful rights of the other Owners. 11. USE AND OCCUPANCY. Each Condominium Unit shall - be used and occupied solely for residential purposes only, and except as provided in this Paragraph, no trade or business of any kind may be carried on therein. Lease or rental of a Condominium Unit for lodging or residential purposes shall not be considered to be a violation of this covenant. 12. EASEMENTS FOR ENCROACHMENTS. If any portion of the General Common Elements now or hereafter encroaches upon another Apartment Unit, a valid easement for the encroachment and for the maintenance of same, so long as it stands, shall and does exist. If any portion of an Apartment Unit now or ea lt308 ."A'k • hereafter encroaches upon the. General Common Elements or upon an adjoining Apartment Unit or Units, a valid easement for the encroachment and for the maintenance of same, so long as it stands, shall and does exist. For title or other purposes, such encroachment and easements shall not be considered or determined I to be encumbrances either on the General Common Elements or the Apartment Units. 13. TERMINATION OF MECHANIC'$ LIEN RIGHTS AND INDEMNIFICATION. No labor performed or materials furnished and , incorporated in. an Apartment Unit with the consent or at the 1 request o44 the Owner thereof or his agent or his contractor or subcontractor shall be the basis for filing of a lien against the Apartment Unit of any other Owner not expressly consenting to or requesting the same, or against the General Conunon Elements'. owned by such other Owners. Each Owner shall indemnify and hold harmless each of the other Owners from and against all liability arising from the claim of any lien against the Apartment Unit of any other Owner or against the General Common Elements for construction performed or for labor, materials, services, or other products incorporated in or otherwise attributable to the Owner's Apartment Unit at such Owner's request. 14. ADMINISTRATION AND MANAGEMENT. Each Owner shall manage his own Unit,'unless the Owners of both Units agree upon the appointment of a Managing Agent to administer both. Notices of Appointment of the Managing Agent -by the Owners of Units hereunder shall be placed of record by the Manager insofar as ' required by law or practice. Until changed by the Owners of the h Condominium Units, the initial Managing Agent of the project I shall be JAMES J. MOLLICA. 15. RESERVATION FOR ACCESS - MAINTENANCE, REPAIR AND j EMERGENCIES. The Owners shall have the irrevocable right to ;! have access to each Apartment Unit from time to time during reasonable hours as may be necessary for the inspection, maintenance, repair or replacement of any of the General Common Elements thereon or accessible therefrom or for making emergency repairs therein necessary to prevent damage to the General or Limited Common Elements or to another Apartment Unit or Units. Damage to the interior of any part of a Unit resulting from maintenance, repair, emergency repair or replacement of any of the General Common Elements or as a result of emergency repairs within another Unit or an Owner at the instance of another Owner shall be a Common Expense of all of the Owners; provided, however, that if such damage is the result of the negligence of a Unit Owner, then such Unit Owner shall be responsible for all of such damage 16. OWNERS' MAINTENANCE RESPONSIBILITY. For purposes of maintenance, repair, alteration and remodeling, an Owner shall be deemed to own the exterior surfaces of such Owner's Unit exclusive use areas assigned thereto, and windows, doors, interior nonsupporting walls, the materials (such as but not limited to plaster, gypsum dry walls, paneling, wallpaper, brick, stone, paint, wall and floor tile, and flooring, but not including the subflooring making up the finished surfaces of the perimeter walls), ceilings and floors within the Unit and the Unit doors and windows. The Owner shall not be deemed to own any utilities running through his Unit which serve more than one Unit except as a tenant in common with the other Owners. Such ij right to repair, alter and remodel shall carry the obligation to tt ry i -5- T • • 'r. replace any finishing materials removed with similar or other P t. types or kinds of finishing materials of equal or better quality, and to maintain the exclusive use area in neat and clean condition. An Owner shall maintain and keep the interior of his ' own Unit and the Limited :anion Elements appurtenant thereto in good taste and repair, including' the fixtures thereof. All fixtures and equipment installed with the Unit commencing at a point where the utility lines,pipes, wires, conduits or • systems (which for brevity are hereafter referred to as "utilities ") enter the Unit shall be maintained and kept in repair by the Owner thereof. 17. COMPLIANCE WITH PROVISIONS OF DECLARATION. Each .Owner shall comply strictly with the provisions of this Declaration as the same may be lawfully amended from time to time. Failure so to comply shall be grounds for an action•to recover sums due and for damages or injunctive relief or both, maintainable by the•Managing Agent by an aggrieved Owner, or assessable as though Common Expenses. 18. REVOCATION OR AMENDMENT TO DECLARATION. This Declaration shall not be revoked nor shall any of the provisions ! herein be amended unless the Owners of both Units, and all of the holders of any recorded Mortgage or deed of trust covering • or affecting any or all Condominium Units consent and agree to 't such revocation or amendment by instrument(s) which shall be duly recorded. • 19. ASSESSMENT FOR COMMON EXPENSES. All Owners shall be obligated to pay the assessments imposed by the Declaration ' .; by the Managing Agent to meet the Common Expenses. Except for P insurance premiums, the assessments shall be made pro rata according to each Owner's fractional interest in and to the General Common Elements. Assessments for insurance premiums • shall be based upon that proportion of the total premiums that • the insurance carried on a Condominium Unit bears to total coverage. Assessments for the estimated Common Expenses, including insurance, shall be due monthly in advance on the first day of each month. The Managing Agent or other Owner incurring the cost shall prepare and deliver or mail to each Owner an itemized monthly statement showing the various estimated: or actual expenses for which the assessments are made. , Contribution for monthly assessments shall be prorated if the ownership of a Condominium Unit commences on a day other than the first day of a month. Assessments for reasonable actual Common Expenses may be made, by the Managing Agent, or Owner incurring the same, among other things, for the following: Expenses of management; taxes and special assessments, until separately assessed; fire insurance with extended coverage and vandalism and malicious mischief insurance with endorsements attached issued in the amount of the maximum replacement value of all of the Condominium Units; casualty and liability and other insurance premiums; landscaping and care of grounds; common lighting and heating; repairs and renovations; garbage collections; wages, water 1 charges, legal and accounting fees; management fees; expenses and liabilities incurred by the Managing Agent or other Owner } under or by reason of this Declaration; the payment of any deficit remaining from a previous period; the creation of a i! reasonable contingency or other reserve or surplus fund as well as other costs and expenses relating to the General Common Elements. The omission or failure of the Managing Agent to fix f it ;i h C ,`¢.. < SIOnt' for any month shall not be deemed a waiver, Cabton.or a release of the Owners from their obligation f i•,40. 20. INSURANCE. The Managing Agent or Owners shall • i'6btain'and maintain at all insurance of the type kind provided hereinabove, and including for such other risk , of a `similar or dissimilar nature, as are or shall hereafter castcmarily be coveted with respect to other. Apartment or t4,4dominium Buildings, fixtures, equipment and personal property s A3iM lar in construction, design and use, issued by responsible • ^:.insurance companies authorized to do business in the State of Colorado. The insurance shall be carried in blanket policy form naming the Owners as the insureds, which policy or policies shalli identify'theinterest of each Condominium Unit Owner (Owner's i l name, unit number, the appurtenant undivided interest in the General Common Elements), and which shall provide for a standard„ noncontributory Mortgagee clause in favor of each first Mortgageei, ' and shall further provide that it cannot be cancelled by either the insured or the insurance company until after ten days' prior written notice to each first Mortgagee. The Managing Agent or Owners, upon request of any first Mortgagee, shall furnish a certified copy of such blanket policy and the separate certifi- cate identifying the interest of the mortgagor. All policies of insurance shall provide that the insurance thereunder shall be invalidated or suspended only in respect to the interest of any particular Owner guilty of a breach of warranty, act, omission, negligence or noncompliance with any provision of such policy, including non - payment of the insurance premium applicable to that Owner's interest, or who permits or fails to prevent the happening of any event, whether occurring before or after a loss, which under the provisions of such policy would otherwise invalidate or suspend the entire policy, but the insurance under any such policy, as to the interests of all other insured Owners not guilty of any such act or omission, shall not be invalidated or suspended and shall remain in full force and effect. Unless the Owners otherwise agree, determination of maximum replacement value of all Condominium Units for insurance purposes shall be made annually by one or more written appraisals, copies of which shall be furnished forthwith to each Mortgagee of a Condominium Unit. In addition, each Owner shall be notified of such appraisals. Insurance coverage on the furnishings, additions and improvements incorporated into a Unit and all items of personal ' property belonging to an Owner and casualty and public liability insurance coverage within each individual Unit shall be the responsibility of the Owner thereof. 21. OWNERS' PERSONAL OBLIGATION FOR PAYMENT OF ASSESSMENTS. The amount of the Common Expenses assessed against or incurred on account of each Condominium Unit shall be the personal and individual debt of the Owner thereof. Suit to recover a money judgment for unpaid Common Expenses shall be maintainable by the Managing Agent, or any aggrieved Owner without foreclosure or waiving the lien securing-same. No Owner may exempt himself from liability fQ his contribution towards the Common Expenses by Waiver of the use or enjoyment of any of the Common Elements or by' abandonment of his Unit. 22. LIEN FOR NONPAYMENT OF COMMON EXPENSE$. All sums due be unpaid for the share of Common Expenses chargeable to any Condominium Unit, including interest thereon at eight gy�pp A�QQ 800KAv8 �"na28 percent per annum, shall constitute a lien on such unit superior. (prior) to ail other liens and encumbrances except: (a) Tax and special assessment liens on the Unit in favor of any assessing entity; and (b) All sums unpaid on a first mortgage or first deed of trust of record, including all unpaid obligatory sums as may be provided. by such j encumbrance, including additional advances, refinance j or extension of thede obligations made thereon prior to the arising of such alien. To evidence such lien the aggrieved Owner or Managing Agent may, but shall not be required to, prepare a written notice setting forth the amount of such..unpaid indebtedness, the name of the defaulting Owner of Condominium Unit and al description of the Condominium Unit. Such a notice shall be signed by the aggrieved Owner or the Managing Agent, as appropriate, and may be recorded in the office of the Clerk and Recorder of the County of Pitkin, State of Colorado. Such lien for the Common Expenses shall attach from the date of the failure of payment of the debt, and may be enforced by fore- 1 closure on the defaulting Owner's Condominium Unit by the aggrieved Owner or the Managing Agent in like manner as a t mortgage or deed of trust on real property upon recording of a G notice or claim thereof. In any such foreclosure the defaulting 1 Owner shall be required to pay the costs and expenses of such k proceedings, the costs and expenses for filing the notice or t claim of lien and all reasonable attorney's fees. The i defaulting Owner shall also be required to pay to the foreclosing party a reasonable rental for the Condominium Unit during the � ; period of foreclosure, and the foreclosing party shall be 1 ,1 entitled to a receiver to collect the same. The foreclosing party shall have the power to bid in the Condominium Unit at foreclosure sale and to acquire and hold, lease, mortgage and fi convey same. The amount of the Common Expenses chargeable against each CondominiumlUnit and the costs and expenses, including attorneys' fees, of collecting the same shall also be a debt of the Owner thereof at the time the same is due. Suit to recover a money judgment for unpaid Common Expenses shall be maintainable without foreclosing or waiving the lien securing same. Any encumbrance holding a lien on a Condominium Unit may pay any unpaid Common Expense payable with respect to such Unit, and upon such payment such encumbrancer shall have a lien on such Unit for the amounts paid of the same as the lien of his encumbrancer. 23. LIABILITY FOR COMMON EXPENSE UPON TRANSFER OF CONDOMINIUM UNIT. Upon payment of a reasonable fee not to exceed ten dollars and upon the written request of any Owner 1 of any Mortgagee or prospective Mortgagee of a Condominium Unit, Managing Agent or the Owner of the other Unit shall issue a written statement setting forth the amount of the unpaid Common Expenses, if any, with respect to the subject Unit, the amount of the current monthly assessment and the date such assessment i becomes due, credit for advance payments or for prepaid items, including but not limited to insurance premiums, which should be 1 r f L % A wags a do :5c; conclusive upon the issuer of such statement in favor of all persons who rely thereon in good faith. Unless such request for a statement of indebtedness is complied with within ten days, all unpaid Common Expenses which become due prior to the date of making such request shall be .subordinate to the lien of the person requesting such statement. The grantee of a Unit 'shall be jointly and severally liable with the grantor for all unpaid assessments. against the latter for his proportionate share of the Common Expenses i up to the time of the grant or conveyance, without prejudice g to the grantee's right to recover from the grantor the amounts paid by the grantee therefor; .provided however, that upon pay - 1 ment of a reasonable fee not to exceed ten dollars, and upon I written request, any prospective grantee shall be entitled to a statement from the Managing Agent or Owner of the other Unit, t setting forth the amount of the unpaid assessments, if any, with ;! respect to the subject Unit, the amount of the current monthly 4i assessment and the date that such assessment becomes due, credit for advanced payments or for prepaid items, including but not limited to insurance premiums, which shall be conclusive upon the issuer to such statements. Unless such request for a statement of indebtedness shall be complied with within ten days of such request, then such grantee shall not be liable for, nor shall the Unit conveyed be subject to a lien for, any unpaid assessments against the subject Unit. 24. MORTGAGING A CONDOMINIUM UNIT - PRIORITY. Any Owner shall have the right from time to time to mortgage or encumber his interest by deed of trust, mortgage or other security instrument. A first mortgage shall be one which has first and paramount priority under applicable law. The Owner of a Condominium Unit may create junior mortgages on the follow - ing conditions: (1) Any such junior mortgages shall always be pp subordinate to all of the terms, conditions, covenants, restrictions, uses, limitations, obligations, lien for common expenses, and other obligations created by the Declaration; (2) The Mortgagee under any junior mortgage shall release, for the purpose of restoration of any improvements upon the mortgaged premises, all of his right, title and interest in and to the proceeds under all insurance policies upon said premises which insurance policies were effected and placed upon the mortgaged premises . by the Managing Agent or other Owner. Such release shall be furnished forthwith by a junior mortgagee upon written request of the Managing Agent or Owner of the other Unit. - 25. RICHT OF FIRST REFUSAL BY OWNERS. In the event any Owner of a Condominium Unit, other than the initial transfer of the Units by the Declarants to one another, shall wish to sell or lease the same, and shall have received a bona fide offer therefor from a prospective purchaser or tenant, excluding • an offer from another Owner, the selling or leasing Owner shall give written notice thereof to the remaining Owners together I f with a copy of such offer and the terms thereof. The remaining Owners, individually or collectively, shall have the right to purchase or lease the subject Unit upon the same terms and conditions as set forth in the offer therefor, provided written notice of such election to purchase or lease is given to the selling or leasing Owner, or his agent, together with a matching down payment or deposit during the twenty -day period immediately following the receipt of the notice of the offer to purchase or lease. The right of first refusal herein provided shall not apply to leases or subleases having a term of less than one year and one day. 1 ti 134308 fMi,4 k I a , a Y' 4 In the event any Owner shall attempt to sell or lease is^e . ndaminium Unit without affording to the other Owners the • Of first refusal herein provided, such sale or lease i1 be voidable and may be voided by a certificate of non - ianosofthe Managing Agent or aggrieved Owner duly .rded in the recording office where the Declaration is - recorded. • However, in the event the Managing agent or aggrieved Owner have not recorded such a certificate of noncompliance ': wtthin. one year from the date of recording in the case of a deed Pillelivered. violation of this paragraph and within one year , .,from +the date of possession under a lease. executed in violation ! otahis paragraph, such a conveyance shall be conclusively • deemed to have been made in compliance with this paragraph and no longer voidable. The subleasing or subrenting of said interest shall ',be subject to the same limitations as are applicable to the leasing or renting thereof. The liability of the Owner under these covenants shall continue, notwithstanding the fact that he may have leased or rented said interest as provided herein. In no case -shall the right of first refusal reserved herein'affect the right of an Owner to subject his Condominium Unit to a trust deed, mortgage or other security instrument. The failure of or refusal by the Owners to exercise the right to so purchase or lease shall not constitute or be deemed to be a waiver of such right to purchase or lease when an Owner receives any subsequent bona fide offer from a prospective purchaser or tenant. The right of first refusal, as provided herein, shall extend and run for the lives of Declarants and their now living descendants and survivor of them, plus twenty -one years. Except as is otherwise provided in paragraph 26, and •except upon a transfer of title to a Public Trustee or to a first mortgagee, each grantor of a Condominium Unit, upon transferring or conveying his interest, shall incorporate in such instrument of conveyance an agreement that the grantee carry out the provisions of the "right of first refusal" as provided in this paragraph. 26. EXEMPTION FROM RIGHT OF FIRST REFUSAL. In the event of any default on the part of any Owner under any first mortgage which entitles the holder thereof to foreclose same, any sale under such foreclosure, including delivery of a deed to the first mortgagee in lieu of such foreclosure, shall be made free and clear of the provisions of paragraph 25, and the purchaserx grantee under such deed in lieu of foreclosure, of such Condominium Unit shall be thereupon and thereafter subject to the provisions of this Declaration. If the purchaser following such foreclosure sale, or grantee under deed given in•lieu of such foreclosure, shall be the then'holder of the first mortgage, or its nominee, the said holder or nominee may thereafter sell and convey the Condominium Unit free and clear of the provisions of paragraph 25, but its grantee shall thereupon and thereafter be subject to all of the provisions thereof. €y O max. aaoc30$ ma ze • The following transfers are also exeMpt from the provisions of paragraph 25: • (a) Transfer by operation of law of a deceased joint tenant's interest to the surviving' joint tenant(s); (b). "Transfer of :a deceased's interest to a ' ,devisee or devisees by will or his heirs at law under intestacy laws; (c) - Transfer of an Owner's interest by treasurer's deed pursuant to..a. for delinquent taxes; -_(d) Transfer of all or any part of a partner's interest as a result of withdrawal, death or otherwise, to the remaining partners carrying on the partnership business and /or to a person or persons becoming partners; a transfer of all or part of a partner's or partners' interests between one or more partners and /or to persons becoming partners; (e) Transfer of a corporation's interest to the persons formerly owning the stock of the corporation as a result of a dissolution. A transfer to the resulting entity following a corporate merger or consolidation; provided however, that at least fifty percent of the stock of the resulting entity is owned by the stockholders of the corporation formerly owning the Condominium Unit; (f) Transfer by gift. 1 27. CERTIFICATE OF COMPLIANCE RIGHT OF FIRST REFUSAL. / Upon written request of any prospective transferee, purchaser, tenant'or an existing or prospective mortgagee of any Condominium 11 Unit, the Managing Agent or Owner of the other Unit shall forthwith, or where time is specified, at the end of the time, '! issue a written and acknowledged certificate in recordable form, evidencing: (a) With respect to a proposed lease or sale under paragraph 25 that proper notice was given by the selling or leasing Owner and that the remaining Owners did not elect to exercise their option to purchase or lease; (b) With respect to a deed to a first Mortgagee or its nominee in lieu of foreclosure, and a deed from such first Mortgagee or its nominee, pursuant to paragraph 26, that the deeds were in fact given in lieu of foreclosure and were not subject to the provisions of paragraph 25; it (c) With respect to any contemplated transfer which is not in fact a sale or lease, that the ffi transfer will not be subject to the provisions of is paragraph 25. Such a certificate shall be conclusive evidence of the 11 facts contained therein. ', ry soa e c 291 ATTOWEt-IN -PACT IN CASE' OP DESTRUCTION, REPAIR, OBSOLESCENCE AND CONDENNATiON. This Declaration hereby makes mandatory the 4.r-revocable appointment of an Attorney -In -Fact to deal with, the property upon its destruction, repair, obsolescence or condemnation. Title to any Condominium Unit is declared and expressly, , made subject to the terms and conditions thereof, and acceptance by any grantee of a deed from the Declarants or from any Owner shall constitute appointment of the Attorney -In -Fact herein provided. All of the Owners irrevocably constitute and appoint the Managing Agent, from time to time appointed pursuant to this Declaration, their true and lawful attorney in their name, 1 place and stead for the purpose of dealing with the property upon its destruction, obsolescence or condemnation as is here- after provided. Said Attorney -In -Fact shall have full and complete authorization; right and power to make, execute and deliver any contract, deed or any other instrument with respect to the interest of a Condominium Unit Owner which are necessary and appropriate to exercise the powers herein granted. Repair and reconstruction of the improvements as used in the succeeding subparagraphs means restoring the improvements to substantially the same condition in which it existed prior to the damage, with each Unit and the General and Limited Common Elements having the same vertical and horizontal boundaries as before. The proceeds of any insurance collected shall be available to the Attorney -In -Fact for the purpose of repair, restoration or 4 replacements unless the Owners of Units arid all first mortgagees agree not to rebuild in accordance with the provisions set forth hereinafter. (a) In the event of damage or destruction due to fire or other disaster, the insurance proceeds, if sufficient to reconstruct the improvements, shall be applied by the Attorney -In -Fact to such reconstruction, and the improvements shall be promptly repaired and reconstructed. The Attorney - In- Factshall have full authority, right and power, . as Attorney -In -Fact, to cause the repair and restora- tion of the improvements. (b) if the insurance proceeds are insufficient to repair and reconstruct the improvements, such damage or destruction shall be promptly repaired and reconstructed by the. Attorney -In -Fact, using the proceeds of insurance and the proceeds of an assess- ment to be made against all of the Owners and their Condominium Units. Such deficiency assessments shall be a Common Expense and made pro rata according to each Owner's fractional interest in the General Common Elements, and shall be due and payable within thirty days after written notice thereof. The Attorney -In -Fact shall have the authority to cause the repair or restoration of the improvements using all of the insurance proceeds for such purpose not- withstanding the failure of an Owner to pay the assessment. The assessment provided for herein shall be a debt of each Owner and a lien on his Condominium Unit and may be enforced and collected as is provided in paragraph 22. In addition thereto, the Attorney- In -Fact shall have the absolute right and power to sell the Condominium Unit of any Owner refusing or failing to pay such deficiency assessment within the time provided, and if not so paid, the Attorney -In -Fact shall cause to be recorded a notice that the � y r l' iC� k �Y' I Mr y . • _ • // ( fi • ; ( / i n Condominium Unit of the delinquent Owner shall be sold J the Association, The proceeds derived from the "i axg of such Condominium Unit shall be used and 8t' r�, �k . +:ct iabnrsed by the . Attorney --Tn -Fact, in the following t: ?w order: ° (1). For payment of the balance of the ''fir lien of any first mortgage; (2) For payment of taxes and special assess -i mentliene in favor of any assessing entity; (3) For payment of unpaid Common Expenses; I (4) For payment of junior liens and encumbrances in the order of and to the extent of their priority; and (5) The balance remaining, if any, shall be !. 'paid to.the Condominium Unit Owner. (c) If any Unit is destroyed or seriously damaged . and if the Owners of one Unit do not voluntarily, within one hundred days thereafter, make provision for reconstruction, which plan must have the unanimous approval or consent of every first Mortgagee, the Attorney -In -Fact shall forthwith record a notice setting forth such fact or facts, and upon the recording of such notice by the Attorney -In -Fact, the .entire remaining premises shall be sold by the - Attorney -In -Fact for all of the Owners, free and clear of the provisions contained in this Declaration, the Map and the By -Laws. The insurance settlement proceeds shall be collected by the Attorney -In -Fact, and such proceeds shall be divided by the Attorney -In -Fact according to each Unit Owner's interest (as such interests appear on the policy or policies), and such divided proceeds shall be paid into a separate account representing each Condominium Unit. Each such account shall be in the name of the Attorney -In -Fact, and shall be further identified by the number of the Apartment Unit and the name of the Owner. From each separate account, the Attorney -In -Fact shall use and disburse the total amount of the proceeds derived from the sale of the entire property. Such apportionment shall be based upon each Condominium Unit Owner's fractional interest in the General Common Elements. The total funds of each account shall be used and disbursed, without contribution from one account to another by the Attorney -In -Fact for the same purposes and in the same order as is provided in subparagraph (b) (1) through (5) of this paragraph. If the Owners of both Units adopt a plan for reconstruction, which plan has the unanimous approval of all first Mortgagees, then all of the Owners shall be bound by the terms and .other provisions of such plan. Any assessment made in connection with such plan shall be a Common Expense and made pro rata according to each Owner's fractional interest in the General Common Elements and shall be due and payable as provided by the terms of such plan, but not sooner ta408 a • fh than thirty days after written notice thereof. The Attorney -In -Fact ehaill_:have the Authority to cause the repair,or restoration of the improvements using all-of the Assurance 'proceeds for such purpose not- ' Withstanding the failure Of an Owner to pay the assessment.. The assessment- provided for herein shall be a debt of-each O ner and alien on his Condominium Unit and may be enforced by collection as is provided in paragraph 22. pp ' ix1 addition thereto, - .the Attorney -In -Fact shall have the absolute right.amipower'to sell the Condominium Unit of any Owner refusing or failing to pay such assessment - within the time provided; and if not sq paid, the Attorney -In -Fact shall cause to be recorded a notice that the Condominium Unit of the delinquent Owner shall be sold by the Attorney -In- Fact. The. proceeds derived from sale of such Condominium Unit shall be used and disbursed by the Attorney -In -Fact for the same purposes and in the same order as provided in subparagraph (b7 (1) through (5) of this paragraph. (d) Owners of one Unit may give notice to other Owners that the Condominium Units are obsolete and that the Same should be renewed or reconstructed. If all Owners agree, then the expense thereof shall be payable by all of the Owners as Common Expenses; provided however that any Owner not in agreement to such renewal or construction may give written notice to the Attorney -.In -Fact that such Unit shall be purchased by the Attorney -In -Fact for the fair market value thereof. If such Owner and the Attorney -In -Fact can agree on the fair market value thereof, then such sale shall be consummated within thirty days thereafter. If the parties are unable to agree, the date when either party notifies the other that he or it is unable to agree with the other shall be the "commencing date" from which all periods of time mentioned herein shall be measured. Within ten days following the commencing date, each party shall nominate in writing, and give notice of such nomination to the other party, an appraiser who shall be a realtor and be qualified to - make appraisals of condominium and similar property in Pitkin County, Colorado. If either party fails to make such a nomination, the appriaser nominated shall, within five days after default by the other party, appoint and associate with him another similarly qualified appraiser. If the two appraisers designated by the parties, or selected pursuant hereto in the event of the default of one party, are unable to agree, they shall appoint another similarly qualified appraiser to be arbitrator between them. The decision of the appraisers as to the fair market value shall be final and binding. The expenses and fees of such appraisers shall be borne equally by the Attorney -In- Fact and the Owner. The sale shall be consummated within fifteen days thereafter, and the Attorney -In- Fact shall disburse such proceeds as is provided in subparagraph (b) (1) through (5) of this paragraph. (e) Owners of both Units may agree that the Condominium Units are obsolete and'that the same should be sold. Such agreement must have the unanimous _lA- sun • approval of every Mortgagee. In such instance, the Attorney -In -Fact shall 'forthwith record a notice setting forth such fact or facts, and upon the recording of such notice by the Attorney -In -Fact, the entire premises shall, be sold by the Attorney -In -Fact for'all of the Owners, free and clear of the provisions contained in this Declaration and the Map. The sales proceeds shall be appdrtioned among the Owners on the basis of each Owner's fractional interest in the General Common Elements, and such apportioned proceeds shall be paid into separate accounts representing each Condominium Unit. Each such account shall be in the name of the Attorney -In -Fact, and shall be further identified by the number of the Apartment and the name of the Owner. From each separate account, the Attorney -In -Fact shall use and disburse the total amount of such accounts, without contribution from one account to another, for the same purposes and in the same order as provided in subparagraph (b) (1) through (5) of this paragraph. (f) Consequences of Condemnation. If at any time or times during the continuance of the Condominium Ownership pursuant to this Declaration, all or any part of the property shall be taken or condemned by any public authority or sold or otherwise disposed of in lieu of or in avoidance thereof, the following provisions shall apply. (1) Proceeds. All compensation, damages or j other proceeds therefrom, the sum of which is herein- after called the "Condemnation Award," shall be payable to the Attorney -In -Fact. (2) Complete Taking. In the event that the f entire Project is taken or condemned, or sold or other wise disposed of in lieu of or in avoidance thereof, the Condominium Ownership pursuant thereto shall terminate, The Condemnation Award shall be apportioned! among the Owners on the basis of each Owner's fractional interest in the General Common Elements, • provided that if a standard different from the value of the property as a whole is employed to measure the Condemnation Award in the negotiation, judicial decree,, or otherwise, then in determining such shares the same `. standard shall be employed to the extent it is relevant and applicable. On the basis of the principle let forth in the last preceding paragraph, the Attorney -In -Fact shalt as soon as practicable determine the share of the Condemnation Award to which each Owner is entitled. Such shares shall be paid into separate accounts and disbursed as soon as practicable in the same manner provided in subparagraph (e) of this paragraph. ' (3) Partial Taking. In the event that less ! than the entire Project is taken or condemned, or sold or otherwise disposed of in lieu of or in avoidance thereof, the Condominium Ownership hereunder shall not terminate. Each Owner shall be entitled to a share of the Condemnation Award to be determined in the following manner: As.soon as practicable the Attorney -In -Fact shall, reasonably and in good faith, allocate the Condemnation Award between compensation, -lS- 4 4 5 N r • a % E3 Y soa(308 X295 y a4^ '- ) ' ���'�' c , damages or other - proceeds , -and shall apportion the r- 1 a amounts so allocated among the Owners, as follows: • 'i 4 5 , Ca) the total amount allocated to taking of or injury , '' to the General COOmon Elements, (b) the total amount .' - allocated to severance damages shall be apportioned ; I,.L ; ,a -:- to those Condominium Units which were not taken or 7,,"‘ ,,, • condemned, (c) the respective amounts allocated to v r � ��� A the taking of or injury to a particular Unit and /or "fin As. improvemen an Owner- had made within his own Unit seal•, shall be apportioned to the particular Unit involved, ,q 4 4,. ; and (d) the total amount allocated to consequential 1‘4 1a _ damages and any other takings of injuries shall be apportioned as the Attorney -In -Fact determines to be :`y equitable in the circumstances.. If an allocation of the Condemnation Award is already established in negotiation, judicial decree or otherwise, then in • allocating the Condemnation Award the Attorney -In -Fact shall employ such allocation to the extent it is relevant and applicable. Distribution of apportioned : proceeds shall be disbursed as soon as practicable in the same manner provided in subparagraph (e) of this - paragraph. (4) Reorganization. In the event a partial taking results in the taking of a complete Unit, the Owner thereof automatically shall cease to be an Owner under the Declaration. (5) Reconstruction and Repair. Any reconstruction and repair necessitated by condemnation . shall be governed by the procedures specified in the paragraph. 29. PERSONAL PROPERTY FOR COMMON USE. The Managing Agent or any Owner may, with the consent of all Owners, acquire and hold for the use and benefit of all the Condominium Owners, real, tangible and intangible personal property and may dispose of the same by sale or otherwise, and the beneficial interest in any such property shall be owned by the Condominium Owners in the same proportion as their respective interests in the General Common Elements and shall not be transferable except with a transfer to the transferee ownership of the transferor's beneficial interest in such property without any reference thereto. Each Owner may use such property in accordance with the purpose for which it is intended, without hindering or encroaching upon the lawful rights of the other Owners. The transfer of title to a Condominium Unit under foreclosure shall entitle the purchaser to the beneficial interest in such personal property associated with the foreclosed Condominium Unit. 30. MAILING OF NOTICES. Each Owner shall register -- - his mailing address with the other Owner or Managing Agent and all notices or demands intended to be served upon any Owner shall be sent by either registered or certified mail, postage prepaid, addressed in the name of the Owner at such registered mailing address. All notices or demands intended to be served upon the Owners or the Managing Agent shall be given by registered or certified mail, postage prepaid, to the registered address thereof. All notices or demands to be served on Mortgagees pursuant hereto shall be sent by either registered or certified mail, postage prepaid, addressed in the name of the Mortgagee At such address as the Mortgagee may have furnished to the Owners or Managing Agent in writing. Unless the Mortgagee so,furnishes such address, the Mortgagee shall be 60308 sac 206 • entitled to receive none of the notices provided for in this Declaration. Any notice referred. to in this Section shall be deemed given when deposited in the United States mail in the form provided for in this election. 31. PERIOD OF CONDOMINIUM OWNERSHIP. The separate . condominium estates created by the Declaration and the Map shall continue until this Declaration is revoked in the manner and as is provided in paragraph 18 of this Declaration or until terminated and in the manner as is provided in subparagraphs (c),' (e) and (f) of paragraph 28 of this Declaration. 32. GENERAL. (a) If any of the provisions of this Declaration or any paragraph, sentence, clause, phrase or word or the application thereof in any circumstances be invalidated, such invalidity shall not affect the validity of the remainder of this Declaration. (b) The provisions of this Declaration shall be in addition and supplemental to the Condominium 4 Ownership Act of the State of Colorado and to all other provisions of law. �� (c) Whenever used herein, unless the context shall otherwise provide, the singular number shall include the plural, the plural the singular, and the , use of any gender shall include all genders. i• IN WITNESS WHEREQ?, Declarants eve duly executed this Declaration this 7 / day of , 1976'. YeiC t'2" i JAMES J. LLICA l. ../ C- 2 � ' l GEORGE E. MANUEL • c - :mot. N,, / ,-J�ii�. ' PATRICIA R. MANUEL STATE OF COLORADO ) ) ss. - COUNTY OF PITKIN J rhe foregoing nstrument was acknowledged before me this day of 1 1974' , by the Decl ants, JAMES . MOLLICA, GE0 E. MANUEL and PATRICIA R. MANUEL. Witness my hand and official seal. My cpmmission expires: 7/17 i. : t , Notary Pu. is •