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HomeMy WebLinkAboutLanduse Case.CO.1225 Snowbunny Ln.A034-98 CITY OF ASPEN PLANNING CASELOAD INDEX 2735 - 122 -08 -014 05/04/98 ® A034 -98 Snowbunny Townhomes Condo Plat Chris Bendon 1225/1227 Snowbunny Ln Condo Plat Snowbunny Equity Korn, Evan ! 601 E Hyman Ave, St 4 - Aspen, CO 925 -6688 355 355 • y °o MEMORANDUM TO: Stan Clauson, Community Development Director vC D AP PROVE THRU: Julie Ann Woods, Deputy Director FROM: Christopher Bendon, Planner WAY ' ZS COMMUNITY DEVaUPMi MI DIRECTOR RE: Snowbunny Townhomes Condo Plat CITY OF ASPEN 1225 & 1227 Snowbunny Lane DATE: May 7, 1998 Evan Korn, representing Snowbunny Equity Venture, LLC, owner, has applied for a subdivision exemption for the condominiumization of a duplex located at 1225 and 1227 Snowbunny Lane. I have referred this application to the City Engineer and the applicant has responded to the suggested modifications to the draft plat. There are no other proposed improvements to the site, it is a permitted use in the R -15 zone district, and there are no other land use issues involved. The Community Development Director may approve subdivision exemptions pursuant to Section 26.88.070. I am recommending approval of this condominiumization contingent upon final recordation. Approved, contingent upon final recordation of the plat: I atUl date: I Pt 'lO Stan Clauson, Community Development Director I ' �.. , AAA TRANSMITTAL MEMORANDUM To: Evan Kom, Applicant, 925 -6688 Thru: Chris Bendon, Project Planner pc: t-BHn Clauson, Community Development Director From: Ross C. Soderstrom, Project Engineer , Date: May 7, 1998 Re: Snowbunny Townhomes, Condominium Plat Physical Address: 1225 & 1227 Snowbunny Lane, Aspen, CO 81611 Parcel No(s).: N/A No. of Sheets in Plat/Map: 2 These are the items remaining to be completed: !� Make corrections indicated on plat / map ✓ Set & flag survey monuments for field verification. Have representative / surveyor call myself (920 -5087) to schedule field verification after setting & flagging monuments. g st4 t agazO 4 9? AtliceleZ, 00 5C7 PO& ✓ Include complete descriptions of all monuments found or set Provide basis of bearings, per State Board of Registration Policy 2 '/e.t'i Of UH /j 0 ItZei easements Complete / correct legal description of parcel(s) tc. including acreage to 1 /1,000 Ac for entire development and each lot, parcel, outlot, tract, etc.\ 5 Provide 100 Yr. Flood Plain delineation; flood study information and date; datum and reference benchmark identification and elevation Complete / correct legend and symbols • Include attached notes to plat / map Revise certificates / signature blocks as indicated Depict easements with dimensions and recording information Complete right -of -way information: dimensions ; Other: / , 5 e Li C ? " Z LE / - E /6e, Oil /P fGX+Def9 3) / /.fi#dlgtad 3 01 Sheen Z ¢ / # / ; /LZS 5,4,02 sor ' - 7 Sirek ,&y Re- submit ( ) copies of sheets of plat / map for review before preparing record copies for recording 1. Submit two (2) complete final, record copies on mylar or velum for recording. Include check payable to Pitkin County Clerk & Recorder for the recording fees for one (1) complete copy of the plat / map (second copy remains in files of City Engineering Dept.). 8 1/2" x 11 ": agreements, etc. first page - $6.00, additional - pages $5.00 larger than 8" x 14" - plats: first sheet - $11.00, additional sheets - $10.00 larger than 8" x 14" - surveys: first & additional sheets - $20.00 each Other: verify with Pitkin County Clerk & Recorder for recording fee schedule M1298.DOC LAND USE APPLICATION PROJECT: Name: 5,0044) !&NAY LA) yl d✓IGS Location: 1 Pict/ Sidefai gQogy Sa,GtSe° (Indicate street address, lot & block number, legal description where appropriate) APPLICANT: Name: JCUJ v !(//t107 Z&b l V L-L Address: % Sc os rf f 6 /E iiY.4,9.v Ate- Sc- / Phone #: 925- 6688 REPRESENTATIVE: Name: fv / LL,t) Address: ( � . a , C2a,r CAA. (a? Phone #: 92S - 66B TYPE OF APPLICATION: (please check all that apply): ❑ Conditional Use ❑ Conceptual PUD ❑ Conceptual Historic Devt. ❑ Special Review ❑ Final PUD (& PUD Amendment) ❑ Final Historic Development ❑ Design Review Appeal ❑ Conceptual SPA ❑ Minor Historic Devt. L GMQS Allotment ❑ Final SPA (& SPA Amendment) ❑ Historic Demolition ❑ GMQS Exemption 4111 Subdivision ❑ Historic Designation ❑ ESA - 8040 Greenline, Stream .�( Subdivision Exemption (includes ❑ Small Lodge Conversion/ Margin, Hallam Lake Bluff, /' condominiumization) Expansion Mountain View Plane ❑ Lot Split ❑ Temporary Use ❑ Other: ❑ Lot Line Adjustment ❑ Text/Map Amendment EXISTING CONDITIONS: (description of existing buildings, uses, previous approvals, etc.) Prii£ PROPOSAL: (description of proposed buildings, uses, modifications, etc.) o2 ro AI h alo 4 be CON �l Have you attached the following? FEES DUE: $ ❑ Pre - Application Conference Summary ❑ Attachment #1, Signed Fee Agreement ❑ Response to Attachment #3, Minimum Submission Contents ■l ' ---- - • _ . •11 -. ., • • - • 'sn SNOBUNNY EQUITY VENTURE L.L.C. May 4, 1998 Chris Bendon City of Aspen Planning & Zoning Re: 1225/1227 Snowbunny Lane Plat Application - Summary Letter The application is for the residential use of two dwelling units. The Purpose of this application is to record the plat and declarations on or before the 14` of May, 1998. If you have questions regarding any of the enclosed, please respond to the undersigned at 925 -6688. Thank you for your cooperation regarding this matter. $' ri — Evan Korn 601 E. HYMAN AVE. SUITE 103• ASPEN, COLORADO • 81611 PHONE: 970 - 920 -1742 • FAX: 970 - 920 -1849 SNOBUNNY EQUITY VENTURE L.L.C. May 4, 1998 Chris Bendon City of Aspen Planning & Zoning Re: 1225/1227 Snowbunny Lane Plat Application - Name & Address Street Address 1225/1227 Snowbunny Lane Legal Description Lot 7, Block 1, Snowbunny Subdivision Applicant Name Snowbunny Equity Venture L.L.C. Applicant Address 601 E. Hyman Ave Suite 103 /Aspen, Co. 81611 Applicant Telephone 970- 925 -6688 Applicant Representative Evan Korn Representative address 601 E. Hyman Ave Suite 103 /Aspen, Co. 81611 Representative Telephone 970 - 925 -6688 Evan Korn 601 E. HYMAN AVE. SUITE 103• ASPEN, COLORADO • 81611 PHONE: 970 - 920 -1742 • FAX: 970 - 920 -1849 `- OF OWNERSHIP Pitkin County Title, Inc., a duly licensed Title Insurance Agent in the State of Colorado hereby certifies that SNOWBUNNY EQUITY VENTURES, LLC, A COLORADO LIMITED LIABILITY COMPANY is the Owner of the FEE SIMPLE ESTATE of the following described property: LOT 7, BLOCK 1, SNOWBUNNY SUBDIVISION COUNTY OF PITKIN, STATE OF COLORADO. Subject to encumbrances, easements, restrictions and rights of way of record. This certificate is not to be construed to be a guarantee of title and is furnished for informational purposes only. PITKIN CO TY TITLE, INC. author..a ignature CERTIFIED TO: APRIL 6, 1998 @ 8:30 A.M. Reception Recorder RECORDING REQUESTED BY: WHEN RECORDED RETURN TO: Michael Herron, Esq. Garfield 81 Hecht, P.C. 601 East Hyman Avenue Aspen, Colorado 81611 DECLARATION FOR SNOWBUNNY TOWNHOMES Name of Common Interest Community: Snowbunny Townhomes Name of Association: Snowbunny Homeowner's Association, Inc. Persons Executing Declaration: Snowbunny Equity Venture, LLC, a Colorado Limited Liability Company M: \khamilton \wp60 \OMJ H \SNOW BUNY \declaration 0 0 DECLARATION FOR SNOWBUNNY TOWNHOMES THE DECLARATION is made this day of May, 1998 by Snowbunny Equity Venture, LLC, a Colorado Limited Liability Company c/o Summit Development Corporation of Aspen, Inc., 601 East Hyman Ave., Aspen, CO 81611, Snowbunny Equity Venture, LLC, a Colorado Limited Liability Company is hereinafter referred to as "Declarant." ARTICLE I GENERAL PURPOSES, SUBMISSION, DEFINED TERMS Section 1.1 General Purposes. Declarant is the owner of certain improved real estate located in the City of Aspen, County of Pitkin, Colorado more particularly described in Exhibit "A" attached hereto, which exhibit is, by this reference, made a part hereof. Declarant desires to create a Common Interest Community under the style and name " SNOWBUNNY TOWNHOMES" pursuant to which the real estate described in Exhibit "A" will be designated for separate ownership and use of a residential nature and in which portions of said real estate will be designated for common ownership solely by the owners (the "Owners ") of the separate ownership portions. Section 1.2 Submission of Real Estate. Declarant hereby submits the real estate described in said Exhibit "A," together with all easements, rights -of -way and appurtenances thereto and the buildings and improvements erected thereon (collectively, the "Real Estate ") to the provisions of the Colorado Common Interest Ownership Act, Section §§38-33.3-101 et seq. of the Colorado Revised Statutes, as it may be amended from time to time (the "Act") and to this Declaration. In the event the Act is repealed, the Act on the effective date of this Declaration shall remain applicable. Declarant hereby declares that all of the Real Estate shall be held, leased, mortgaged, sold and conveyed subject to the following terms, easements, reservations, restrictions, covenants, and conditions. Declarant further declares that this Declaration is made for the purpose of protecting the value and desirability of the Real Estate; that this Declaration shall run with the Real Estate and shall be binding on all parties having any right, title or interest in the Real Estate or any part thereof, their heirs, devisees, legal representatives, successors and assigns and shall inure to the benefit of each and every Owner. Section 1.3 Division of Property into Units and Common Property. The Real Estate is hereby divided into two (2) fee simple estates, i.e. Units, each of which is improved with a single family townhouse residence sharing a party wall with a single family townhouse residence on the adjoining Unit. Each unit shall own an undivided fifty percent (50 %) fee simple interest in the Common elements (as defined below). 1 Section 3.3 Description of Units. Every contract for sale, deed, lease, Security Interest and every other legal document or instrument shall legally describe a Unit as follows: Unit Snowbunny Townhomes, a Common Interest Community according to the Condominium Plat thereof recorded in Plat Book at Page and the Declaration for Snowbunny Townhomes recorded as Reception No. , all of the real estate records of Pitkin County, Colorado. Every such description shall be good and sufficient for all purposes to sell, convey, transfer, encumber or otherwise affect the Unit, the improvements thereon, the interest in the Common Elements appurtenant thereto and to incorporate the rights, limitations and burdens incident to ownership of a Unit as described in this Declaration and the Plat. Section 3.4 Unit Boundaries. The boundaries of each Unit and the Common Elements are shown on the Condominium Plat. (a) Except as otherwise described below, all Real Estate and the improvements thereon, located within the boundaries of the Unit as shown on the Condominium are a part of the Unit; (b) All built -in air handling, ventilation and heating systems including chutes, flutes, ducts, wire, conduit and all other mechanical systems of the Snowbunny Townhomes wherever situated that serve only one Unit are part of that Unit and any portions thereof that serve both Units or the Common Elements are Common Elements. (c) The common driveway serving the garages for the Units as well as any spaces or improvements outside the boundaries of any Unit that do not serve any particular Unit shall be Common Elements. (d) Any structural elements, bearing or party walls or columns wherever situated to the unfinished surfaces thereof, that serve only one Unit are part of that Unit, and any portions thereof that serve both Units or the Common Elements shall be Common Elements. Section 3.5 Common Elements and Limited Common Elements. Portions of the Real Estate shown on the Condominium Plat are either Units or Common Elements. The Association shall be responsible for the maintenance, repair and replacement of all Common Elements and for that portion of each Unit as set forth in this Declaration. Section 3.6 No Partition of Lots. No Owner may assert any right of partition with respect to such Owner's Unit. By becoming an Owner, each Owner waives any and all rights of partition such Owner may hold with respect to such Owner's Unit. This Section 3.6 shall 3 not, however, limit or restrict the right of the Owners of a Unit to bring a partition action pursuant to Section 38 -28 -101 et seq. of the Colorado Revised Statutes requesting the sale of the Unit and the division of the proceeds among each Owner; provided that no physical division of the Unit shall be permitted as a part of such action and no such action shall affect any other Unit. Section 3.7 Separate Assessment. Declarant shall give written notice to the Assessor of Pitkin County, Colorado requesting that the Units be separately assessed and taxed and that the total value of the Common Elements be assessed and taxed proportionately in accordance with the Allocated Interest of such Unit in the Common Elements. After this Declaration has been recorded in the real estate records of Pitkin County, Colorado, Declarant shall deliver a copy of this Declaration as recorded to the Assessor of Pitkin County, Colorado. Section 3.8 No Mechanic's Liens. (a) If any Owner shall cause or permit any material to be furnished to such Owner's Unit or any labor or services to be performed therein, no Owner of any other Unit shall be liable for the payment of any expense incurred or for the value of any work done or material furnished. All such work shall be at the expense of the Owner causing it to be done, and such Owner shall be solely responsible to contractors, laborers, materialmen and other persons furnishing labor, services or materials to such Owner's Unit. Nothing herein contained shall authorize any Owner or any person dealing through, with or under any Owner to charge the Common Elements or any Unit other than that of such Owner with any mechanic's or material men's lien or other lien or encumbrance whatsoever. Notice is hereby given that the right and power to charge any lien or encumbrance of any kind against the Common Elements or against any Owner or any Owner's Unit for work done or materials furnished to any other Owner's Unit is hereby expressly denied. (b) If, because of any act or omission of any Owner, any mechanic's or materialman's lien or other lien or order for the payment of money shall be filed against any of the Common Elements or against any other Owner's Unit or against any other Owner or the Association (whether or not such lien or order is valid or enforceable as such), the Owner whose or which act or omission forms the basis for such lien or order shall, at such Owner's own cost and expense, cause such lien or order to be canceled or bonded over in an amount and by a surety company reasonably acceptable to the party or parties affected by such lien or order within twenty (20) days after the filing thereof, and further such Owner shall indemnify and save harmless all such parties affected from and against any and all costs, expenses, claims, losses or damages, including reasonable attorney's fees resulting therefrom. ARTICLE IV THE ASSOCIATION, DEADLOCKS, INDEMNIFICATION, NOTICES TO OWNERS 4 Section 4.1 Purposes. The Association, through its Executive Board, shall perform the functions and manage and administer the Common Interest Community as provided in this Declaration so as to further the interests of the members of the Association. The Association shall be governed by its Articles of Incorporation and Bylaws, as amended from time to time. The Executive Board may, by written resolution, delegate authority to a manger or managing agent for the Association, provided no such delegation shall relieve the Executive Board of final responsibility. Section 4.2 Specific Powers. The Association shall have all the powers, authority and duties as necessary and proper to manage the business and affairs of the Common Interest Community. The Association shall have all of the powers, authority and duties permitted or set forth in the Act. The Association shall have the power to assign its right to future income, including the right to receive Common Expense assessments, but only upon the affirmative vote of the Owners of both Unit 1 and Unit 2. Section 4.3 Membership Qualifications. Each individual, corporation, partnership, limited liability company, joint venture, trust or other legal entity capable of holding title to real property in Colorado shall automatically become a member of the Association upon becoming an Owner of a Unit. Membership shall be continuous throughout the period that such ownership continues and shall be appurtenant to and inseparable from ownership of a Unit. Ownership of a Unit shall be the sole qualification for such membership. Membership shall terminate automatically without any Association action whenever any Owner ceases to own any Unit. No Owner may pledge or otherwise hypothecate its membership in the Association and no such pledge or hypothecation shall be effective or binding on the Association. Where more than one person or legal entity holds an interest in any Unit, all such persons or legal entities shall be members and the voting of such membership shall be in accordance with the Act. Section 4.4 Executive Board. The affairs of the Association shall be governed by an Executive Board consisting of two (2) members. The Owner of Unit 1 shall appoint one member and the Owner of Unit 2 shall appoint one member. Except as otherwise provided in this Declaration, the Executive Board may only act by unanimous decision, subject to provisions of Section 4.5 below regarding deadlocks. In addition, and notwithstanding anything to the contrary contained in this Declaration, the unanimous consent of the Executive Board shall be required, in connection with any decision to change the physical appearance or the color of the Units. Section 4.5 Deadlocks of Executive Board. There shall be a deadlock of the Executive Board (the "Deadlock ") where either member shall give notice (the "Notice of Deadlock ") to the other that, after a formal vote, one member of the Executive Board has voted for or against any item of business coming before the Executive Board and the other member has voted differently or refuses to vote or refuses to attend a duly called meeting of the Executive Board. In the event of a Deadlock, a decision resolving the Deadlock (which shall be final and binding on all Owners) shall be made by a third disinterested person (the "Decision Maker"). The Decision Maker shall be appointed by the Executive Board within five 5 (5) days after the Notice of Deadlock has been given in accordance with the procedures for the giving of notices set forth in Paragraph 4.7 below. If the Executive Board cannot, within the time provided, agree on a Decision Maker, then, at the request of either member of the Executive Board, the Decision Maker shall be appointed by either the then president of the Aspen Board of Realtors or the then president of the Pitkin County Bar Association. Within five (5) days after the appointment of the Decision Maker, each member of the Executive Board shall submit to the Decision Maker a written proposal to resolve the Deadlock. If only one member shall timely submit a written proposal, such proposal shall automatically be deemed the decision of the Decision Maker for purposes of resolving the Deadlock. The Decision Maker shall be, in the case of a disagreement involving primarily an architectural issue, a local architect with no less than five (5) years experience in the Aspen area and, in any other matter of disagreement, an individual with no less than five (5) years experience in Aspen residential property management. In no event shall the Decision Maker be related to, an affiliate of, or under the control or ownership of any Owner. The Decision Maker shall make his or her decision in good faith using reasonable judgment but must select, without change or modification, the entire proposal submitted by one of the Executive Board Members. The Decision Maker may, in the course of making a decision, retain the services of, and rely upon the advice of, an attorney, accountant, architect or engineer. The costs of the proceedings, including outside professional fees, shall, in the reasonable discretion of the Decision Maker, be allocated to one or both members of Executive Board in any proportion as the Decision Maker deems fair. If the presidents of both the Aspen Board of Realtors and Pitkin County Bar Association fail or refuse to appoint a Decision Maker within five (5) days after being requested to do so, then either member of the Executive Board shall have the right to petition any judge of the Pitkin County District Court or the Pitkin County Court judge to appoint a Decision Maker. The reasonable attorneys' fees and costs incurred by either member of the Executive Board in obtaining the judicial appointment of a Decision Maker shall be shared equally by the members of the Executive Board. In consideration of the Decision Maker accepting his or her appointment hereunder, each of the Owners and the Executive Board agree to indemnify, protect and hold harmless Decision Maker from and against any claims, demands or causes of action for damages or any other relief arising out of any activities of the Decision Maker hereunder, excepting only acts of willful misconduct, fraud or dishonesty of the Decision Maker. Section 4.6 Indemnification. To the full extent permitted by law, each officer and Executive Board Member of the Association shall be and is hereby indemnified by the Unit Owners and the Association against all expenses and liabilities including attorney's fees, reasonably incurred by or imposed upon them in any proceeding to which they may be a party, or in which they may become involved, by reason of being or having been an officer or Executive Board Member of the Association, or any settlements thereof, whether or not they are an officer or Executive Board Member of the Association at the time such expenses are incurred; except in such cases wherein such officer or Executive Board Member is adjudged guilty of willful misfeasance or malfeasance in the performance of his or her duties; provided that in the event of a settlement the indemnification shall apply only when the Executive Board approves such settlement and reimbursement as being in the best interests of the Association. Notwithstanding the preceding, the indemnification provisions of this Section 4.6 do not apply 6 to Deadlocks or any expenses or liabilities incurred by a member of the Executive Board arising out of Section 4.5 above. Section 4.7 Notice to Owners. Notice to an Owner of matters affecting the Snowbunny Townhomes by the Association or by another Owner shall be sufficiently given if such notice is in writing and is delivered personally, by courier or private service delivery or on the third business day after deposit in the mails for registered or certified mail, return receipt requested, at the address of record for real property tax assessment notices with respect to that Owner's Unit. ARTICLE V EASEMENTS AND LICENSES Section 5.1 Unit Owners' Easements. Every Unit Owner shall have a right of enjoyment and easement for access to their Unit through or over the Common Elements and such easement shall be appurtenant to and shall pass with the title to every Unit, subject to the following provisions: (a) The right of the Association to promulgate and publish rules and regulations with which each Unit Owner and their guests shall strictly comply. (b) The right of the Association to grant easements, leases, licenses and concessions through or over the Common Elements. (c) The right of the Association to convey or subject a Common Element to a Security Interest in accordance with and to the extent permitted by the Act. (d) The right of the Association to dose or limit the use of the Common Elements while maintaining, repairing or replacing such Common Elements. (e) Any Unit Owner may delegate their right of enjoyment to the Common Elements and facilities to the members of their family, their tenants or guests who reside or rent at their Unit. Section 5.2 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 construction, reconstruction, repair, settlement or shifting or movement of the building, or any other similar 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 encroachments occur due to the willful misconduct of an Owner or Owners. In the event a structure is partially or totally 7 r^ 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 5.3 Maintenance and Utility Easement. The Association, its officers, directors, agents, independent contractors, employees and assigns shall have the irrevocable right, upon, across, in, over, and under the Common Elements and Units as may be necessary or appropriate to perform the duties and functions which it is obligated or permitted to perform pursuant to this Declaration, including landscape care, exterior maintenance of Units and snow removal. The Association may create additional easements upon, across, in , over, and under the Common Elements and under the surface of the Units (limited in the case of the Units to the easements shown and designated on the Plat) for installing, replacing, repairing and maintaining all utilities, including but limited to water, sewer, gas, telephone, electricity, television satellite system, and cable television, if any; provided, however, that such easements are reasonably necessary for the purposes intended. All such utility easements and utility services situate in such easements shall be a part of the Common Elements, except as may be dedicated for the respective public utilities with a corresponding assumption of maintenance responsibility ARTICLE VI ALLOCATED INTERESTS Section 6.1 Allocated Interests. The Common Expense liability, percentage ownership interest of each Unit Owner in the Common Elements and votes in the Association allocated to each Unit shall be as follows: Percentage Percentage Share Share of Ownership in Common Common Interest Votes in Affairs Unit No. Elements Expenses of Action 1 50% 50% 1 vote 2 50% 50% 1 vote TOTAL 2 Units 100% 100% 2 votes Section 6.2 Determination of Allocated Interests. The interests allocated to each Unit have been calculated on the basis of treating each Unit equally for purposes of the 8 ownership in Common Elements, percentage of Common Interest Expenses and votes in the affairs of the Association. ARTICLE VII COVENANT FOR COMMON EXPENSE ASSESSMENTS Section 7.1 Obligation to Pay Common Expense Assessments. Declarant, for each Unit, shall be deemed to covenant and agree, and each Unit Owner, by acceptance of a deed therefore, whether or not it shall be so expressed in any such deed or other conveyance, shall be deemed to covenant and agree to pay to the Association Common Expense assessments imposed by the Association against said Unit. Such assessments, including fees, charges, late charges, attorney's fees, fines and interest charged by the Association shall also be the personal obligation of the Unit Owner of such Unit at the time when the assessment or other charges become due. Where there are multiple Owners of a Unit, the obligation to pay assessments shall be joint and several. The personal obligation to pay any past due sums due the Association shall not pass to a successor in title unless expressly assumed by them. No Unit Owner may become exempt from liability for payment of the Common Expense assessments by waiver of the use or enjoyment of the Common Elements or by abandonment of the Unit against which the Common Expense assessments are made. All assessments shall be payable in the amounts specified in the levy thereof, and no offsets or reduction thereof shall be permitted by any reason including, without limitation, any claim that the Association or the Executive Board is not properly exercising its duties and powers under this Declaration. Section 7.2 Apportionment of Common Expenses. Except as provided in this Section 7.2 or elsewhere in this Declaration, Common Expense assessments shall be assessed against both Units in accordance with the formula for liability for the Common Expenses as set forth in Section 6.1 above. (a) Any Common Expense associated with the maintenance, repair, or replacement of a portion of an individual Unit shall be assessed against such Unit to which that Limited Common Element is assigned, unless the Executive Board shall agree to a different proportion; (b) Any Common Expense for services provided by the Association to an individual Unit at the request of the Unit Owner shall be assessed against that Unit only; (c) The cost of common utilities, if any there shall be, shall be assessed in proportion to actual or estimated usage; 9 (d) If a Common Expense is caused by the misconduct of a Unit Owner, such expense shall be assessed exclusively against that Unit Owner and Unit; Section 7.3 Purpose of Assessments. The assessments levied by the Association through its Executive Board shall be used exclusively for the purposes of promoting the health, safety, and welfare of the members of the Association. Such purposes shall include, but shall not be limited to the following: (a) the improvement, maintenance, repair, upkeep and reconstruction of the Common Elements; or (b) for painting, landscape care and snow removal and any other maintenance obligations which may be deemed desirable for the common benefit of the Unit Owners; or (c) for the maintenance of property values, or for payment of expenses which may be incurred by virtue of agreement with or requirement of any governmental authority. The assessments may also be used to provide insurance of various types and in such amounts deemed appropriate by the Executive Board. Also, a portion of the assessments may be used to provide a reserve fund for the replacement, repair, and maintenance of Common Elements which must be replaced or refurbished on a periodic basis. Section 7.4 Adoption of Budget. Within thirty (30) days after adoption of any proposed budget for the Common Interest Community, the Executive Board shall mail, by ordinary first -class mail or otherwise deliver, a summary of the budget to all the Unit Owners and shall set a date for a meeting of the Unit Owners to consider ratification of the budget not less than fourteen (14) nor more than sixty (60) days after mailing or other delivery of the summary. In the event that the proposed budget is rejected, the last periodic budget as ratified by the Unit Owners will be continued until such time as the Unit Owners ratify a subsequent budget proposed by the Executive Board. Failure of the Executive Board to agree on a proposed budget shall be considered a Deadlock under Section 4.5 above. Section 7.5 Annual Assessment /Commencement of Common Expense. Common Expense assessments may be made on an annual basis against all Units and shall be based upon the Association's budget of the cash requirements needed by it to provide for the administration and performance of its duties during such assessment year. Common Expense assessments shall be due and payable in monthly, quarterly, or annual installments, or in any other manner, as determined by the Executive Board. Common Expense assessments may begin on the first day of the month in which conveyance of the first Unit to a Unit Owner other than the Declarant occurs. The omission or failure of the Executive Board to levy assessments for any period shall not be deemed a waiver, modification or a release of the Unit Owners from their obligation to pay assessments for such period. Section 7.6 Effect of Non - Payment of Assessments. Any assessments, changes or fees provided for in this Declaration, or any monthly or other installments thereof, which is not fully paid within ten (10) days after the due date thereof, as established by the Executive Board, shall bear interest at the rate of eighteen percent (1 %) per annum from the due date, and the Association may assess a reasonable late charge thereon as determined by the Executive Board. Failure to make payment within sixty (60) days of the due date thereof shall cause the total amount of such Unit Owner's Common Expense Assessment for the remainder 10 of that fiscal year to become immediately due and payable at the option of the Executive Board. Further, the Association may bring an action at law or in equity, or both, against any Unit Owner personally obligated to pay such overdue assessments, charges or fees, or monthly or other installments thereof, and may also proceed to foreclose its lien against such Unit Owner's Unit. An action at law or in equity by the Association against a Unit Owner to recover a money judgement for unpaid assessments, charges or fees, or monthly or other installments thereof, may be commenced and pursued to the Association without foreclosing, or in any way waiving, the Association's lien therefore. Foreclosure or attempted foreclosure by the Association of its lien shall not be deemed to stop or otherwise preclude the Association from thereafter again foreclosing or attempting to foreclose its lien for any subsequent assessments, charges or fees, or monthly or other installments thereof, which are not fully paid when due. Section 7.7 The Association's Lien. The Association shall have from the date of recording of this instrument a lien against each Unit to secure payment to the Association of all assessments with respect to such Unit, interest thereon and all costs and expenses of collecting such assessments and charges including reasonable attorney's fees. The Association's lien shall be prior and superior to all other liens and encumbrances on a Unit except: (a) liens and encumbrances recorded prior to the recordation of this instrument; (b) the Security Interest of a first lien or with respect to such Unit except to the extent specified in the Act; (c) liens for real estate taxes and other governmental charges against such Unit; and (d) mechanic's and materialman's liens which by law may be prior to the Association's lien. The Association's lien shall attach from the date of recording of this instrument and shall be considered perfected without the necessity of recording a notice of lien. Nevertheless, the Association may record in the real estate records of Pitkin County, Colorado, a notice of lien which shall be executed by an officer or director of the Association and which shall contain substantially the following information: (I) the legal description of the Unit against which the lien is claimed; (ii) the name of the defaulting Owner of such Unit as indicated by the Association's records; (iii) the total unpaid amount together with interest thereon and costs of collection as of the date of such notice; (iv) a statement that the notice of lien is made by the Association pursuant to the Declaration; and (v) a statement that a lien is claimed and will be foreclosed against such Unit in an amount equal to the amount stated as then due and any additional amounts thereafter becoming due. No failure or omission of the Association to file any notice of lien shall affect the validity, priority or enforceability of such lien. The Association's lien may be foreclosed upon in the manner provided by Colorado for the foreclosure of mortgages encumbering real property. In any such foreclosure, the Owner of the Unit subject to such foreclosure shall be required to pay the costs and expenses of such proceedings, including reasonable attorney's fees. The Association shall be entitled to purchase the Unit at any foreclosure sale, and to hold, lease, mortgage or convey the same. In any such foreclosure action, the Court may appoint a receiver to collect all sums alleged to be due from the Owner prior to or during the pendency of such foreclosure or action. The Court may order the receiver so appointed to pay any sums held by such receiver to the Association during the pendency of such foreclosure to the extent of the unpaid assessments and charges. 1 l Section 7.8 Statement of Unpaid Assessments. The Association shall furnish to an Owner of a Unit or its designee or to a holder of a Security Interest or its designee, upon written request, delivered personally or by certified mail, first -class postage prepaid, return receipt requested to the Association's registered agent, a written statement setting forth the amount of the unpaid assessments, if any, with respect to such Unit. Such statement shall be furnished within fourteen (1 4) calendar days after receipt of the request and is binding upon the Association, the Executive Board and every Unit Owner. If no statement is furnished to the requesting party delivered personally or by certified mail, first -class postage prepaid, return receipt requested, to the inquiring party, then the Association shall have no right to assert a lien upon the Unit for unpaid assessments which were due as of the date of the request. ARTICLE VIII USE AND OTHER RESTRICTIONS Section 8.1 Use of Units. No Unit shall be occupied for living or sleeping purposes by more persons than the Unit was designed to safely accommodate. Units shall be used and occupied primarily for residential purposes and secondarily for a home office if the home office complies with the following criteria: (I) no goods or merchandise may be produced, stored, displayed or sold as a part of the business conducted at the home office; (ii) only one other person not a resident in the Unit may be employed or associated with the business conducted at the home office; (iii) no separate entrance to the home office shall be permitted; (iv) no signs identifying the home office shall be permitted and (v) such use shall be permitted by applicable zoning and other land use regulations. Section 8.2 Maintenance of Yard. Each Unit Owner shall be responsible for maintaining the yard appurtenant to their Unit and designated on the Map as a limited common element. Section 8.3 Maintenance of Units. Each Unit at all times shall be kept in a clean, safe, attractive, first -class condition. Owners shall be deemed to own, and shall have the right and the obligation to maintain, repair, alter and remodel the interior non - supporting walls, the materials making up the finished surfaces of the perimeter walls, ceilings and floors within the Unit as well as doors and windows of the Unit. No trash, litter, junk, machinery, lumber or other building materials shall be permitted to remain exposed in any Unit so that the same are visible from any neighboring Unit or any street. Declarant, its agents and assigns and the Association and its agents, shall have the authority to enter and clean up a Unit which does not conform to the provisions of this Section 8.3, and Section 8.2 above and to charge and collect from such Unit Owner all reasonable costs related thereto. Section 8.4 Animals. No animals shall be raised, bred, kept or regularly brought to the Common Interest Community, except for animals which are trained to and are, in fact, assisting persons with disabilities and except for the following pets which may be kept at a Unit: (a) no more than two dogs; and (b) no more than two cats; and (c) any number of other small 12 ♦. J ordinary household pets which are confined inside the Unit, such as parakeets, parrots, canaries, gerbils and fish. The Executive Board may grant permission to an Owner to keep additional pets at such Owner's Unit, which permission may be granted or withheld in the Executive Board's sole and absolute discretion. No dog shall be allowed to bark so as to constitute a nuisance to any other Owner. No dog or cat shall be tied up, kept or allowed unattended on any of the Common Elements, except that such pets may be allowed in a fenced -in run located in the Limited Common Element appurtenant to each Unit and located in the yard. Except as expressly provided herein, no other animals shall be raised, bred, kept or regularly brought to the Common Interest Community. Section 8.5 Zoning, Nuisances, Hazards. No Unit within the Common Interest Community shall be used for any purpose other than as allowed by the local zoning codes. No nuisance shall be permitted within the Common Interest Community, nor any use, activity or practice which is a source of unreasonable annoyance or embarrassment to, or which unreasonably offends or disturbs, any Unit Owner or which may unreasonably interfere with the peaceful enjoyment or possession of the proper use of a Unit or Common Element, or any portion of the Common Interest Community by Unit Owners. Further, no unsafe, hazardous, offensive, or unlawful use shall be permitted within the Common Interest Community or any portion thereof. All valid laws, ordinances and regulations of all governmental bodies having jurisdiction over the Common Interest Community or a portion thereof shall be observed. Section 8.6 Compliance with Insurance Requirements. Except as may be approved in writing by the Executive Board, nothing shall be done or kept on the Common Interest Community which may result in a material increase in the rates of insurance. Nothing shall be done or kept on the Common Interest Community that would result in the cancellation of any insurance maintained by the Association. Section 8.7 Restriction on Signs and Advertising Devices. No signs (which term shall include posters, billboards and advertising devices) of any kind shall be erected or maintained anywhere within the Common Interest Community except such sign or signs as may be approved in writing by the Executive Board. Nothing herein shall prevent an Owner from installing a mail box and /or street address signage. Section 8.8 Restrictions on Floor Loads. No Owner of a Unit may place a load on any floor which exceeds the floor load for which the floor was designed to support. Section 8.9 Parking. No buses, trucks larger than pickup trucks, trailers, mobile homes, truck campers, detached camper Units, boats or commercial vehicles may be parked anywhere in the Common Interest Community, except for trucks while making deliveries or providing services to a Unit or in connection with any construction permitted by this Declaration. Section 8.10 Exterior Work. No improvements, attachments, including, but not limited to, antennas, flagpoles, satellite dishes, except one satellite dish not larger than thirty inches (30 ") or changes to the exteriors of any building, including changes in painting, staining 13 f ., or siding, shall be constructed, erected, placed, installed or maintained, except upon the approval of the Executive Board. Section 8.1 1 Leasing of Units. Any Unit Owner shall have the right to lease its Unit upon such terms and conditions as such Unit Owner may deem advisable; provided, however, every lease or rental agreement shall be in writing and shall provide that the lease or rental agreement is subject to the terms of this Declaration, the Bylaws of the Association and the Articles of Incorporation and the rules and regulations of the Association and shall state that the failure of the tenant or renter or guest to comply with the terms of the Declaration or Bylaws of the Association, Articles of Incorporation or the rules and regulations of the Association shall constitute a default of such lease or rental agreement and such default may be remedied by the Association which remedy may include eviction. Notwithstanding the foregoing requirements , short term rentals (i.e., not to exceed fourteen ( 1 4) days) need not be in writing but shall nevertheless remain subject to the terms of the Declaration, the Bylaws of the Association and the Articles of Incorporation and rules and regulations of the Association. Section 8.12 No Rights of First Refusal. The rights of a Unit Owner to lease, sell, transfer or otherwise convey its Unit shall not be subject to any right of first refusal or similar restriction and such Unit may be sold free of any such restrictions. Section 8.13 No Restrictions on Mortgaging of a Unit. There are no restrictions on the right of the Unit Owners to mortgage or otherwise encumber their Units. There is no requirement for the use of a specific lending institution or particular type of lender. Section 8.14 No Time Shares. No Unit shall be submitted to or conveyed pursuant to a timesharing or interval ownership arrangement. Section 8.15 Rules and Regulations. Consistent with and in furtherance of the intent, purposes and provisions of this Declaration governing the Common Interest Community rules and regulations may be adopted, amended, or repealed from time to time by the Executive Board. All rules adopted by the Association shall be reasonable and uniformly applied. The Executive Board may also establish and enforce penalties and fines for the infraction thereof which fines shall be collectable as assessments in the manner provided in Article 7 above. ARTICLE IX MAINTENANCE AND INSURANCE Section 9.1 Maintenance by Association. The Association shall be responsible for maintaining the Common Elements, as well as, the exterior portions of buildings, including, but not limited to, foundations, walls, including any party walls, decks and roof and the paint, stain or other decorative coating of the exterior surfaces (but specifically excluding exterior doors and windows), as well as landscaped yard areas of the Units and all landscaping and irrigation 14 equipment. The costs of the maintenance required to be performed by the Association shall, subject to the provisions of Section 7.2, be a Common Expense. Section 9.2 Insurance Carried. The Association shall obtain and maintain in full force and effect to the extent reasonably available, and at all times, the insurance coverage set forth herein and as set forth in the Act, which insurance coverage shall be provided by financially responsible and able companies duly authorized to do business in the State of Colorado. Commencing not later than the time of the first conveyance of a Unit to a person other than Declarant, the Association shall maintain, to the extent reasonably available, policies with the following terms or provisions: - (a) All policies of insurance shall contain waivers of subrogation and waivers of any defense based on invalidity arising from any acts of a Unit Owner and shall provide that such policies may not, unless otherwise provided by statute, be canceled or not renewed without at least thirty (30) days prior written notice to all of the Unit Owners, holders of flrst lien Security Interests and the Association. (b) If requested, duplicate originals of all policies and renewals thereof or certificates or memoranda of insurance, together with proof of payments of premiums, shall be delivered to any Unit Owner or holder of a flrst lien Security Interest. (c) All liability insurance shall be carried in blanket form covering Declarant, the Association, the Executive Board, the managing agent, if any, and their respective employees, agents and all persons acting as agents. (d) Prior to obtaining any policy of property insurance or renewal thereof, pursuant to the provisions hereof, the Executive Board may obtain an appraisal from a duly qualified real estate or insurance appraiser, which appraiser shall reasonably estimate the full replacement value of the Units and the Common Elements, without deduction for depreciation and shall review any increases in the cost of living, and /or consider other factors for the purpose of determining the amount of the insurance to be effected pursuant to the provisions hereof. The total amount of property insurance must not be less than full insurable replacement cost (at the time of purchase of insurance and at each renewal date) Tess applicable deductions exclusive of land, excavations, foundations and other items normally excluded. (e) Unit Owners may carry and are advised to carry other insurance for their benefit and at their expense, provided that the liability of the carriers issuing insurance obtained by the Association shall not be affected or diminished by reason of any such additional insurance carried by Unit Owners and provided, further, that the policies of insurance carried by the Association shall be primary, even if a Unit Owner has other insurance that covers the same loss 15 or losses as covered by policies of the Association. In this regard, Declarant discloses that the Association's insurance coverage, as specified hereunder and under the Act, does not obviate the need for Unit Owners to obtain insurance for their own benefit. Section 9.3 Property Insurance on the Units and Common Elements. The Association shall obtain adequate property insurance covering loss, damage or destruction by fire or other casualty to the Units, to the Common Elements and the other property of the Association. The insurance obtained on the Units is not required to include improvements and betterments installed by Unit Owners. If coverage purchased by the Association includes improvements and betterments installed by Unit Owners, the cost thereof shall be assessed to each Unit in proportion to risk. All policies shall contain a standard non - contributory mortgage clause in favor of each holder of first lien Security Interests, and their successors and assigns, which shall provide that the loss, if any thereunder, shall be payable to the Association for the use and benefit of such holders of first lien Security Interests, and their successors and assigns, as their interests may appear of record in the records of the office of the Clerk and Recorder of the County of Pitkin, Colorado. Section 9.4 Liability Insurance. The Association shall obtain adequate comprehensive policy of public liability insurance against claims and liabilities arising in connection with the ownership, existence, use and management of the Common Elements, in such limits as the Executive Board may from time to time determine, but not in any event less than One Million and No /100 Dollars ($1,000,000.00) per injury, per person, and per occurrence, and in all cases covering all claims for bodily injury or property damage. All liability insurance shall name the Association as the insured. Section 9.5 Fidelity Insurance. The Association may obtain adequate fidelity coverage or fidelity bonds to protect against dishonest acts on the parts of its officers, directors, trustees and employees and on the part of all others who handle or are responsible for handling the funds of the Association, including persons who serve the Association with or without compensation. The clause "officers, directors, trustees and employees" shall not include any officer, director, agent or employee of any independent, professional manager or managing agent heretofore or hereafter employed by the Association. The fidelity coverage or bonds should be in an amount sufficient to cover the maximum funds that will be in control of the Association, its officers, directors, trustees and employees. Section 9.6 Worker's Compensation and Employer's Liability Insurance. The Association shall obtain worker's compensation and employer's liability insurance and all other similar insurance with respect to its employees in the amounts and forms as may now or hereafter be required by law. Section 9.7 Officers' and Directors' Personal Liability Insurance. The Association may obtain officers' and directors' personal liability insurance to protect the officers and directors from personal liability in relation to their duties and responsibilities in acting as officers and directors on behalf of the Association. Neither the term "officers" nor the term 16 1 "directors" shall include any officer, director, agent or employee of any independent professional manager or managing agent heretofore or hereafter employed by the Association. Section 9.8 Other Insurance. The Association may obtain endorsements to policies or additional insurance against such other risks, of similar or dissimilar nature, as it shall deem appropriate with respect to the Association responsibilities and duties. Section 9.9 Insurance Premium. Except as assessed in proportion to risk as permitted under the terms of this Declaration, insurance premiums for the above provided insurance shall be a Common Expense to be included as a part of the annual assessments levied by the Association. Section 9.10 Managing Agent Insurance. The manager or managing agent, if any, shall be insured to the same extent as the Association, as herein provided, and as provided in the Act, for the benefit of the Association, and shall maintain and submit evidence of such coverage to the Association. Section 9.1 1 Waiver of Claims Against Association. As to all policies of insurance maintained by or for the benefit of the Association and Unit Owners, the Association and the Unit Owners hereby waive and release all claims against one another, the Executive Board and Declarant, to the extent of the insurance proceeds available, whether or not the insurance damage or injury is caused by the negligence of or breach of any agreement by said person. Section 9.12 Annual Insurance Review. The Executive Board shall review the insurance carried by and on behalf of the Association at least annually for the purpose of determining the amount of insurance required. Section 9.13 Adiustments by the Association. Any loss covered by an insurance policy described above shall be adjusted with the Association, and the insurance proceeds for that loss shall be payable to the Association, and not to any holder of a first lien Security Interests. The Association shall hold any insurance proceeds in trust for the Association, Unit Owners and holders of first lien Security Interests as their interests may appear. The proceeds must be distributed first for the repair or restoration of the damaged property, and the Association, Unit Owners and holders of first lien Security Interests are not entitled to receive payment of any portion of the proceed unless there is a surplus of proceeds after the damaged property has been completely repaired or restored. Section 9.14 Duty to Repair. Any portion of the Common Interest Community for which insurance is required under this Article which is damaged or destroyed must be repaired or replaced promptly by the Association, except as provided in the Act. ARTICLE X ENFORCEMENT 17 Section 10.1 Enforcement. The Association or a Unit Owner or Unit Owners of any of the Units may enforce the restrictions, conditions, covenants and reservations imposed by the provisions of this Declaration by proceedings at law or in equity against any person or persons, either to recover damages for such violation, including reasonable attorney's fees incurred in enforcing these covenants, or to restrain such violation or attempted violation. Failure of the Association or of any Unit Owner to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter. ARTICLE XI AMENDMENTS Section 1 1.1 Amendment to Declaration or Plat. Except in the case of amendments that may be executed by Declarant or the Association as allowed by the Act, this Declaration, including the Plat, may be amended only by the vote or agreement of the Owners of both Unit 1 and Unit 2. Every amendment to the Declaration must be: (1) recorded in the real estate records of Pitkin County, Colorado and is effective only upon recordation; (ii) indexed in the grantee's index in the name of the Common Interest Community and the Association and in the grantor's index in the name of each person executing the Amendment. Amendments to this Declaration shall be prepared, executed, recorded, and certified on behalf of the Association by any officer of the Association designated for that purpose or, in the absence of designation, by the President of the Association. All expenses associated with preparing and recording an Amendment to the declaration shall be the sole responsibility of the Association except as otherwise provided in the Act. ARTICLE XII RESTORATION AND TERMINATION Section 12.1 Restoration. If at any time all Owners and all holders of first lien Security Interests shall agree that the Common Interest Community has become obsolete and shall approve a plan for its renovation or restoration, the Association shall promptly cause such renovation or restoration to be made according to such plan. All Owners shall be bound by the terms of such plan and the costs of the work shall be a Common Expense. Section 12.2 Termination. If at any time an agreement to terminate the Common Interest Community is obtained from all Owners and all holders of first lien Security Interests in accordance with the provisions of the Act, the Association shall promptly undertake the actions required of the Association under the provisions of the Act. Upon completion of such actions by the Association, this Declaration shall automatically terminate without any further action. 18 ARTICLE XIII CONDEMNATION Section 13.1 Appointment of Association as Attorney -in -Fact. Each Owner, on such Owner's behalf and on behalf of such Owner's heirs, devisees, legal representatives, successors and assigns, does irrevocably constitute and appoint the Association with full power of substitution, as such Owner's true and lawful attorney -in -fact such Owner's name, place and stead to deal with such Owner's interest in such Owner's Unit upon condemnation of such Owner's Unit with full power, right and authorization to execute, acknowledge and deliver any contract, deed or other document affecting the interest of such Owner, and to take any other action which the Association may consider necessary or advisable to give effect to the provisions of this Section 13.1. If requested to do so by the Association, each Owner shall execute and deliver a written instrument confirming such appointment. The action of the Association in settling any condemnation claim shall be final and binding on all Owners. Section 13.2 Entire Taking. If the entire Common Interest Community is taken under any statute, by right of eminent domain, or by purchase in lieu thereof, or if any part of the Common Interest Community is taken and the part remaining may not practically or lawfully be used for any purpose permitted by this Declaration, the Association (as attorney -in -fact for the Owners) shall collect the award made in such taking and shall sell the part of the Real Estate remaining after the taking, if any, free and clear of the provisions of this Declaration which shall automatically terminate upon the recording of a notice by the Association setting forth all of such facts without any further action. The award and the proceeds of such sale, if any, shall be distributed by the Association in the manner provided in the Act. Section 13.3 Partial Taking. If a taking occurs other than a taking specified in Section 13.2 hereof, then the Association (as attorney -in -fact for the Owners) shall collect the award made in such taking, shall promptly cause the portion of the Common Interest Community not so taken to be restored as nearly as possible to its condition prior to the taking, and shall prepare, execute and record an amendment to the Declaration which confirms any reallocation of the Allocated Interests made pursuant to the provisions of the Act. The costs of such restoration shall be a Common Expense payable by the Owners in accordance with respective Allocated Interests after any reallocation referred to in the preceding sentence. The award paid to the Association as a result of any such taking shall be disbursed by the Association as follows: (a) If a Unit is taken, the portion of such award attributable to such Unit shall be disbursed to the Owner of such Unit or the lienholders with respect to such Unit, as their interests may appear; and 19 (b) Any portion of such award not disbursed pursuant to the provisions of Section 13.3(a) hereof shall be disbursed to the Owner of each Unit or the Iienholders with respect to such Unit, as their interests may appear, in accordance with the reallocation of such Allocated Interests as referred to in Section 13.3 above. ARTICLE XIV MISCELLANEOUS Section 14.1 Severability. Each of the provisions of this Declaration shall be deemed independent and severable. If any provision of this Declaration or the application thereof to any person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of this Declaration which can be given effect without the invalid provisions or applications. Section 14.2 Term of Declaration. This Declaration shall continue and remain in full force and effect in perpetuity as the same may be amended from time to time in accordance with the provisions of Article 11, unless this Declaration be terminated in accordance with Section 12.2 above. Section 14.3 Singular Includes the Plural. Unless the context otherwise requires, the singular shall include the plural, and the plural shall include the singular, and each gender referral shall be deemed to include the masculine, feminine and neuter. Section 14.4 Captions. All captions and titles used in this Declaration are intended solely for convenience of reference and shall not enlarge, limit or otherwise affect that which is set forth in any section, section or article hereof. Section 14.5 Colorado Law. The interpretation, enforcement and any other matters relative to this Declaration shall be construed and determined in accordance with the laws of the State of Colorado. Section 14.6 Disclaimer. Unless otherwise provided by the Act, no representations or warranties of any kind, express or implied, have been given or made by Declarant, or its agents or employees, in connection with this Common Interest Community, or any portion thereof, or any improvement thereon, its physical condition, zoning, compliance with applicable laws, fitness or intended use or operation, cost of maintenance or taxes except as expressly set forth in this Declaration. Section 14.7 Limited Liability. A member of the Executive Board or an officer of the Association shall not be liable for actions taken or omissions made in the performance of his or her duties except for wanton and willful acts and except for acts specified in §7-24-111 of the Colorado Revised Statutes. Unless otherwise required by the Act, Declarant and any agent or employee of Declarant shall not be liable to any party for any action or for any failure to act with respect to any matter arising in connection with the Declaration if the action taken or failure to act was in good faith and without malice. 20 Naomi Section 14.8 Conflicts with Articles, Bylaws or Rules of Association. In the event of any conflict or inconsistency between provisions of this Declaration and the Articles or Bylaws or Rules and Regulations of the Association, the provision of this Declaration shall govern and control. Section 14.9 Covenants Running with the Land. Each provision of this Declaration, and any agreement, promise, covenant and undertaking to comply with each provision of the Declaration shall be deemed a covenant running with the land as a burden with and upon the title to each Unit for the benefit of all the Real Estate. IN WITNESS WHEREOF, the Declarant has signed this Declaration this 14 day of May, 1998. DECLARANT: SNOWBUNNY EQUITY VENTURE, LLC, A COLORADO LIMITED LIABILITY CpMPANY ) r By Samuel Korn, Member By: .e 42� Diane Anderson, Member STATE OF COLORADO ) )ss. COUNTY OF PITKIN The foregoing Declaration for the Snowbunny Townhomes was acknowledged before me by Sam Korn as Member appointed to manage Snowbunny Equity Venture, LLC, a Colorado Limited Liability Company. My commission expires: A MYCG Mhh , t ';riE;�Pin�:S�/ ILC� � C.�'l'' /i .E' � 4 /7/01 Not4ry Public r O kr �� U 2 1 4 ` � .8P � 0 o s : TAT E • STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing Declaration for the Snowbunny Townhomes was acknowledged before me by Diane Anderson as Member appointed to manage Snowbunny Equity Venture, LLC, a Colorado Limited Liability Company My commission expires: — A ( K7(- -L 2 e 1 /%17, , t i , 'VAT Noithry Public MYCOMMIS IUN EXPIRES 4/7/01 • o ,'„' A c., ' o 4'.••........ of 8TAtE 22 EXHIBIT "A" Legal description of Real Estate Lot 7, Block 1, Snowbunny Subdivision, County of Pitkin, State of Colorado Recording Data for Easement and Licenses 1. Right of the proprietor of a vein or lode to extract or remove his ore therefrom, should the same be found to penetrate or intersect the premises herein granted as reserved in United States Patent recorded in Book 55 at Page 45. 2. Those terms, conditions, provisions, obligations, easements, restrictions, assessments and all matters as set forth in Protective Covenants for Snowbunny Subdivision recorded May 2, 1957 in Book 181 at Page 255 and Assignment of Powers recorded October 13, 1965 in Book 216 at Page 96. 3. Easements, rights -of -way and all matters as disclosed on the Plat of subject property recorded in Ditch Book 2A at Page 229. 4. This Condominium Declaration and the Condominium Map . M: \khamilton \wp60 \OMJH \SNOW BONY \declaration