HomeMy WebLinkAboutcoa.Anderson Park.Property Deed Reception No.
QUIT CLAIM DEED
THIS DEED, made this 2.?--) day of L.c;in Y \A Cre ac , 20LZbetween
the Robert L. Orr Family Partnership. L.L.L.P, Grantor and The Citi of Aspen, Colorado, whose
legal address is 130 South Galena Street, Aspen, Colorado, Grantee,
WITNESSETH that the grantor, for and in consideration of the sum of TEN DOLLARS ($10.00)
the receipt and sufficiency of which is hereby acknowledged, has remised, released, sold,
conveyed and QUIT CLAIMED, and by these presents does remise, release, sell, convey and
QUIT CLAIM unto the grantee, its heirs, successors and assign, forever, all the right, title
interest, claim and demand which the grantor has in and to the real property, together with
improvements, if any, situate, lying and being in the County of Pitkin, State of Colorado,
described as follows:
Lot 2, Anderson Subdivision, according to the recorded First Amended Plat, reception number
394519, thereof in Plat Book 39 at page 101, City of Aspen, Pitkin County, Colorado.
TO HAVE AND TO HOLD the same, together with all and singular the appurtenances and
privileges thereunto belong or in anywise thereunto appertaining, and all the estate, right, title
interest and claim whatsoever, of the grantor, either in law or equity, to the only proper use,
benefit and behalf of the grantee, its heirs and assigns forever.
IN WITNESS WHEREOF, the grantor has executed this deed on the date set forth above.
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RECEPTION #: 587151, 03/02/2012 at
09:21:28 AM,
1 OF 1, R $11.00 DF $0.00 Doc Code QCD
Janice K. Vos Caudill, Pitkin County, CO
STATE OF COLORADO )
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COUNTY OF PITKIN
The foregoing instrument was acknowledged before me tins is 74 day of
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Witness my hand and official seal nr
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Reception No.
QUIT CLAIM DEED
THIS DEED, made this 1 day of March, 2012 between the City of Aspen, Grantor and, Robert
L. Orr Family Partnership. L.L.L.P, whose legal address is 500 Patterson Road, Grand Junction,
Colorado, 81506 Grantee,
WITNESSETH that the grantor, for and in consideration of the sum of TEN DOLLARS ($10.00)
the receipt and sufficiency of which is hereby acknowledged, has remised, released, sold,
conveyed and QUIT CLAIMED, and by these presents does remise, release, sell, convey and
QUIT CLAIM unto the grantee, its heirs, successors and assign, forever, all the right, title
interest, claim and demand which the grantor has in and to the real property, together with
improvements, if any, situate, lying and being in the County of Pitkin, State of Colorado,
described as follows:
Lot 2, Anderson Subdivision, according to the recorded Second Amended Plat,
reception number 582868, thereof in Plat Book 97 at page 93, City of Aspen, Pitkin
County, Colorado.
TO HAVE AND TO HOLD the same, together with all and singular the appurtenances and
privileges thereunto belong or in anywise thereunto appertaining, and all the estate, right, title
interest and claim whatsoever, of the grantor, either in law or equity, to the only proper use,
benefit and behalf of the grantee, its heirs and assigns forever.
IN WITNESS WHEREOF, the grantor has executed this deed on the date set forth above.
GRANTOR:
CityofA ej: /
�r l � � " � RECEPTION #: 587152, 03/02/2012 at
b 09:21:29 AM,
Steve Barwick, City Manager 1 OF 1, R $11.00 DF $0.00 Doc Code QCD
Janice K. Vos Caudill, Pitkin County, CO
STATE OF COLORADO )
)ss
COUNTY OF PITKIN
NE • y, ,' ent was acknowledged before me this 1st day of March
2012, b f V • ,, anager, City of Aspen.
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G: \True\Anderson subdivision quit claim deeds #2.docx
Memo
To: Mayor and City Council
Thru: Amy Margerum; City Manager
John Worcester, City Attomey
Steve Barwick, Assistant City Manager
David Hoeffer, Assistant City Attor~
From-' Tabatha Miller, Finance Direct~~
Date: 09/13/99
Re: Anderson Property Purchase
SUMMARY: In October, 1996 the City entered into a contract for an exclusive option to
buy the Parcel described as lot 1. Anderson Subdivision, within 60 days of the '~Nritten notice
of death of Hildur L. Anderson". A couple of months ago, Lenny Oates. the Anderson's
attorney, approached the City with the offer to buy the parcel now instead of waiting for the
contract clause. At a recent executive session, City Council directed staff to pursue
purchasing the parcel now for terms very similar to the original contract. Staff has reviewed
the attached documents and a closing for the property is scheduled for September 15, 1999.
The purchase will be structured according to the original agreement with a total purchase
pdce of $1 475,000. On closing $500.000 will be paid and a Note for the remaining $975.000
will be signed by the city and payable in two installments over the next two years bearing
interest of 6% per annum.
The City has agreed to allow the current tenants to continue living on the property, by signing
leases with the City, through Apd115, 2000.
RECOMMENDATION: Through adoption of the Consent Calendar. City Council will pass
Resolution , which authorizes the City Manager to sign the Deed of Trust, Note Payable
and closing documents on behalf of the City of Aspen, for the purchase of the Anderson
parcel.
· Page I
DEED OF TRUST
THIS INDENTURE, made this 15~ day of September, 1999, betWeen the CITY OF
ASPEN, COLORADO, a Colorado Home Rule City, whose address is: 130 South Galena Street,
Aspen, Colorado 81611, hereinafter referred to as ("Grantor"), and the Public Trustee of the
County of Pitkin, State of Colorado, hereinafter referred to as ("Public Trustee"),
WITNESSETH, THAT, WHEREAS, THE CITY OF ASPEN, COLORADO, a Colorado
Home Rule City, has executed a Promissory Note, dated September 15, 1999, for the principal
sum of Nine Hundred and Seventy Five Thousand ($975,000.00) Dollars, payable to the order
of the A.W. Anderson and Edwin Paul Anderson, as Trustees of the Hildur L. Anderson Trust
Under That Certain Trust Agreement Made By Hildur L. Anderson In Instrument Dated July 12,
1978, The Hildur L. Anderson Trust, U/T/D July 12, 1978 As Amended, Albert W. Anderson
and Edwin P. Anderson, Trustees, Albert W. Anderson, Judith L. Anderson, Edwin P. Anderson,
Mary Ann Benhart, James R. Anderson, Cynthia A. Anderson, Brooke B. Anderson Irrevocable
Trust dated November 28, 1995, James W. Anderson Irrevocable Trust dated November 28,
1995, Kelly D. Thompson Irrevocable Trust dated November 28. 1995, Julie B. Anderson
Irrevocable Trust dated November 28, 1995, Alexa W. Anderson Irrevocable Trust dated
November 28. 1995, Jason Tanker Anderson Irrevocable Trust dated December 28. 1995. and
Kendra Margaret Nance Irrevocable Trust dated December 31. 1996. whose address is: % Oates.
Knezevich & Gardenswartz. P.C.. 533 East Hopkins Avenue. Aspen, Colorado 81611, with
interest at the rate of Six (6%) percent per annum payable $500.000.00 principal plus accrued
unpaid interest on September 15, 2000. and $475.000.00 in principal plus accrued unpaid interest
on September 15. 2001,
AND WHEREAS, the Grantor is desirous of securing payment of the prinmpal and
interest of said Promissory Note in whose hands soever the said Note may be.
NOW THEREFORE. the Grantor. in consideration of the premises and for the purpose
aforesaid, does hereby grant, bargain, sell and convey unto the said Public Trustee in trust
forever, the following described property, situate in the County of Pitkin. State of Colorado, to
wit:
Lot 1. Anderson Subdivision. City of Aspen. Pitkin County, Colorado
Also known by street and number as:
TO HAVE AND TO HOLD the same. together with all and singular the privileges and
appurtenances thereunto belonging: In trust nevertheless, that in case of default in the payment
of said Note or any part thereof, or in the payment of the interest thereon according to the tenor
and effect of said Note, or in the payment of any prior encumbrances, principal or interest, if any,
or in case default shall be made in or in case of violation or breach of any of the terms.
conditions, covenants or agreements herein contained, the beneficiary hereunder or the legal
holder of the indebtedness secured hereby may declare a violation of any of the covenants herein
contained and may elect to advertise said property for sale. and demand such sale by filing a
notice of election and demand for sale with the Public Trustee. Upon receipt of such notice of
election and demand for sale. the Public Trustee shall cause a copy of the same to be recorded in
the recorder's office of the county in which said property is situated. The Public Trustee shall
then give public notice of the time and place of sale by advertisement to be published for four
weeks (once each week for five successive weeks in some newspaper of general circulation at that
time published in the county or counties in which said property is located. A copy of such notice
shall be mailed within ten days after the date the date of the first publication thereof to the Grantor
at the address given herein, to such persons appearing to have acquired a subsequent record
interest in said property at the address given in the recorded instrument, and to any other persons
as may be provided by law. tt shall and may then be lawful for the Public Trustee to sell said
property for the highest and best price the same will bring in cash and to dispose of the same (eh
masse or in separate parcels, as the said Public Trustee may think best), together with all the
right, title and interest of the Grantor therein, at public auction at any place as may be specified
by statute and designed in the notice of sale. The Public Trustee shall make and give to the
purchaser of such property at such sale, a certificate in Writing containing: a description of such
property purchased; the sum paid therefor; a statement that said purchaser shall be entitled to a
deed therefor, unless the same shall be redeemed asis provided by law; and in the event of a
continuance of the sale, a recital that the sale was duly continued. The Public Trustee, shall, upon
demand by the person holding the said certificate of purchase, when said demand is made or upon
demand by the person entitled to a deed to the said property pi~rchased. Said deed shall be in the
ordinary form of a conveyance, and shall be signed, acknowledged and delivered by the said
Public Trustee and shall confirm the foreclosure sale and sell and convey to such person entitled
to such deed, the property purchased as aforesaid and all the right, title, interest, benefit and
equity of redemption of the Grantor therein. The Public Trustee shall, out of the proceeds or
avails of such sale, after first paying and retaining all fees, charges and costs of making said sale,
pay to the beneficiary hereunder or the legal holder of said Note, the principal and interest due
on said Note according to the tenor and effect thereof, and all moneys advanced by such
beneficiary or legal holder of said Note for insurance, taxes and assessments, with interest thereon
at Ten (10%) percent per annum, rendering the overplus, if any, unto those persons entitled
thereto as a matter of law. Said sale and said deed so made shall be a perpetual bar, both in law
and equity, against the Grantor and all other persons claiming the said property, or any part
thereof, by, from, through or under the Grantor. The holder of said Note may purchase and said
property or any part thereof, and it shall not be obligatory upon the purchaser at any such sale to
see to the application of the purchase money.
And the Grantor covenants and agrees to and with the Public Trustee, that at the time of
the ensealing of and delivery of these presents he is well seized of the said land and tenements in
fee simple, and good right, full power and lawful authority to grant, bargain, sell and convey the
same in the manner and form as aforesaid; hereby fully and absolutely waiving and releasing all
rights and claims he may have m or to said lands, tenements, and property as a Homestead
Exemption. or other exemption, under and by virtue of any act of the General Assembly of the
State of Colorado. or as any exemption under and by virtue of any act of the United States
Congress. now existing or which may hereafter be passed in relation thereto and that the same are
free and clear of all liens and encumbrances whatever, except the liefl for real property records
for 1999, payable in 2000. and the above-bargained property in the quiet and peaceable possession
of the Public Trustee, against all and every person or persons lawfully claiming or to claim the
whole or any part thereof, the Grantor shall and will Warrant and Forever Defend.
Until payment in full of indebtedness, the Grantor shall timely pay all taxes and
assessments levied on the property; any and all amounts due on account of principal and interest
or other sums on any senior encumbrances, if any; and will keep all ~mprovements that may be
on said lands insured against any casualty loss, including extended coverage, in a company or
companies meeting the net worth requirements of the beneficiary hereof in an amount which will
yield to the holder of the indebtedness, after reduction by co-insurance provisions of the policy,
if any, not less than the then total indebtedness. Each policy shall contain a loss payable clause
naming the beneficiary as mortgagee and shall further provide that the insurance may not be
canceled upon less than ten days written notice to the beneficiary. At the option of the
beneficiary, the original policy or policies of insurance shall be delivered to the beneficiary as
further security for the indebtedness. Should the Grantor fail to msure and deliver the policies
or to pay taxes or assessments as the same fall due, or to pay any amounts payable upon senior
encumbrances, if any. the beneficiary may make any such payments or procure any such
insurance, and all monies so paid with interest thereon at the rate of Ten (10 %) percentper annum
shall be added to and become a part of the indebtedness secured by this Deed of Trust and may
be paid out of the proceeds of the sale of the property if not paid by the Grantor. In addition, and
at its option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust
to be in default for failure to procure insurance or make any of the payments required by this
paragraph.
-2-
If all or any part of the property or an interest therein is sold or transferred by the Grantor
without beneficiary's prior written consent, excluding (a) the creation of a lien or encumbrance
subordinate to this Deed of Trust, (b) the creation of a purchase money security interest for
household appliances, (c) a transfer by devise, descent or by operation of law upon the death of
a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an
option to purchase, beneficiary may, at beneficiary's option, declare all the sums secured by this
Deed of Trust to be immediately due and payable. Beneficiary shall have waived such option to
accelerate if, prior to the sale or transfer, beneficiary and the person to whom the property is to
be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
beneficiary and that the interest payable on the sums secured by this Deed of Trust shall be at such
rate as beneficiary shall request.
AND THAT IN CASE OF ANY DEFAULT whereby the right of foreclosure occurs
hereunder, the holder of said Note or certificate of purchase shall at once become entitled to the
possession, use and enjoyment of the property aforesaid, and to the rents, issues and profits
thereof, from the accruing of such right and during the pendency of foreclosure proceedings and
the period of redemption, if any there be: and such possession shall at once be delivered to the
holder of said Note or certificate of purchase on request, and on refusal, the delivery of such
possession may be enforced by the holder of said Note or certificate of purchase by any
appropriate civil suit or proceeding, and the holder of said Note or certificate of purchase, or any
hereof, shall be entitled to a Receiver for said property, and of the rents, issues and profits
thereof, after such default, including the time covered by foreclosure proceedings and the period
of redemption, if any there be, and shall be entitled thereto as a matter of right without regard to
the solvency or insolvency of the Grantor or of the then owner of said property and without regard
to the value thereof, and such Receiver may be appointed by any court of competent jurisdiction
upon ex parte application and without notice--notice being hereby expressly waived--and all rents,
issues and profits, income and revenue therefrom shall be applied by such Receiver to the payment
of the indebtedness hereby secured, according to the law and the orders and directions of the
court.
AND, that in case of default in any of said payments of principal or interest, according to
the tenor and effect of said Promissory Note or any part thereof, or of a breach or violation of any
of the covenants or agreements herein, by the Grantor, then and in that case the whole of said
principal sum hereby secured and the interest thereon to the time of the sale may at once, at the
option of the legal holder thereof, become due and payable, and the said property be sold in the
manner and with the same effect as if said indebtedness had matured, and that if foreclosure be
made by the Public Trustee, reasonable attorney's fees for services in the supervision of said
foreclosure proceedings shall be allowed by the Public Trustee as a part of the cost of foreclosure,
and if foreclosure be made through the courts a reasonable attorney's fee shall be taxed by the
court as a part of the cost of such foreclosure proceedings.
IT IS FURTHER UNDERSTOOD AND AGREED, that if a release of this deed of trust
is required, the Grantor will pay the expense thereof, that all the covenants and agreements herein
contained shall extend to and be binding upon the heirs, personal representatives, successors and
assigns of the respective parties hereto; and that the singular number shall include the plural, the
plural the singular, and the use of any gender shall be applicable to all genders.
EXECUTED this 15~ day of September, 1999.
THE CITY OF ASPEN, COLORADO, a
Colorado Home Rule City
I IIIIII IIIII IIIIII IIII IIIIII IIII mil III IIIII IIII IIII
435556 og/15/'lggg 02:53P DT DRVI~S STLV!
3 et' 4 R 20.08 D 8.80 N 0.00 PZTKZN COUNTY CO
STATE OF COLORADO
COUNTY OF PITKIN ~
SS.
The fi re ot tns' ument w kn 1
rRreg 'rig ' s~ as ac ow eaged bemre me mis /~'~ day of September,
1999, by ~U L, ~l~m as ¢[~ ~~ of
The City of ~petn, Colorado, a ~lo~ado Home Rule City. ' '
WITNESS MY HAND ANp O~FICIAL
My commission expires: 0 ~103
[Seal] 2~,.~'~(~ :~ ~
SEAL.
Not~y lqbho ~
I IIIIII IIIII IIIIII IIII IIIIII IIII mil III IIIII IIII IIII
435556 $9/15/1999 02:53P DT DAYXS SXLVX
4 of 4 R 20.00 D 8.00 N 0.08 PXTKXN COUNTY CO
PROMISSORY NOTE
$975,000.00
Aspen, Colorado
September 15, 1999
FOR VALUE RECEIVED, The City of Aspen, Colorado, a Colorado Home Rule City
("Maker") promises to pay to the order of A.W. Anderson and Edwin Paul Anderson, as Trustees
of the Hildur L. Anderson Trust Under That Certain Trust Agreement Made By Hildur L.
Anderson In Instrument Dated July 12, 1978, The Hildur L. Anderson Trust, UFF/D July 12,
1978 As Amended, Albert W. Anderson and Edwin P. Anderson, Trustees, Albert W. Anderson,
Judith L. Anderson, Edwin P. Anderson, Mary Ann Benhart, James R. Anderson, Cynthia A.
Anderson, Brooke B. Anderson Irrevocable Trust dated November 28, 1995, James W. Anderson
Irrevocable Trust dated November 28, 1995, Kelly D. Thompson Irrevocable Trust dated
November 28, 1995, Julie B. Anderson Irrevocable Trust dated November 28, 1995, Alexa W.
Anderson Irrevocable Trust dated November 28, 1995, Jason Tanker Anderson Irrevocable Trust
dated December 28, 1995, and Kendra Margaret Nance Irrevocable Trust dated
1996 (collectively "Holder"), the principal sum of Nine Hundred and Seventy Five
($975,000.00) Dollars, at % Oates, Knezevich & Gardenswartz, P.C.,
Aspen, Colorado 81611, together with interest at the rate
principal and interest shall be payable in the following manner
$500,000.00 in principal plus
September 15, 2000, and $475,000.00 in
accrued unpaid interest on September 15, 2001.
For administrative purposes payment shall be made to the
Knezevich & Gardenswartz, P.C., which shall make the individual'
constituents.
The Maker shall have the right to make prepayments in any amount
Failure to pay when due any installment of principal or shall
cause this entire Note to become due and collectible at once at the option of the Holder hereof,
in which case accrued interest and principal shall, from and after the date of such default, bear
interest at Ten (10 %) percent per annum. In the event this Note shall be collected by an attorney,
by suit or otherwise, Maker agrees to pay a reasonable attorney's fee.
The Maker, endorser, sureties and guarantors of this Note severally waive presentment for
payment, notice of non-payment, protest, and notice of protest.
THIS PROMISSORY NOTE IS SECURED by a First Pl~lrlt~/I)~ec]. of Trust
encumbering Lot 1, Anderson Subdivision, City of Aspen, Pitkin Cou
The foregoing is subject to ~e additioml terms attached hereto ~ E~i~
~ WI~SS W~OF, this Note is executed ~d delivere~er ~e day ~d
year first above written.
THE CITY OF ASPEN, COLO~DO, a Colorado
Home Rule City
EXHIBIT "A"
PROMISSORY NOTE
(Business Purpose)
CITY OF ASPEN - HILDUR ANDERSON
ADDITIONAL TERMS. For the purpose of these Additional Provisions, the Maker may be referred to as the "Maker"
or the "City", the governing body of which is referred to as the "City Council of the City of Aspen, Colorado" and this
Promissory Note may be referred to either as the "Note" or as the "Loan". The following covenants, terms and conditions
shall limit the obligation of the Maker notwithstanding any language contained in this Note or any document executed
in connection herewith.
Loan Payments Subiect to Annual Appropriation. The Maker agrees, subject to the availability of
appropriations of funds to it therefor and other moneys legally available for the purpose and subject
to the limitations of the provisions hereof, to pay to the Holder payments coming due under this Note,
a portion of which each payment shall represent a principal component payable, and a portion of
which shall represent an interest component.
B. Covenant to Request Appropriations.
During the term of this Note, the Maker covenants and agrees (i) to include in its annual
budget submitted to the City Council of the City of Aspen, Colorado ("Aspen City
Council") the amount necessary (after taking into account any other moneys then legally
available for such purpose) to make all payments coming due hereunder during the next
succeeding fiscal year and (ii) to take such further action (or cause the same to be taken) as
may be necessary or desirable to assure that the final budget submitted to the Aspen City
Council for its consideration provides for an appropriation of moneys sufficient to make
such payments for each such fiscal year. The fast such budget appropriations will be
submitted on or before the final date for submission of such requests to be included in the
budget to be submitted to the Aspen City Council under applicable law with respect to the
budget for the City's fiscal year commencing on .~tc ~ e,, ~ ~ , ~,0oo , so that the
payments payable during the related fiscal year from moneys leg~llly dvailable to the Maker
for such purpose during such fiscal year will have been appropriated for such purpose, and
subsequent inclusions in each respective request for appropriations by the Maker shall be
made in the next fiscal year thereafter so that the payments to be paid during each
succeeding fiscal year will be available for such purposes as long as the Aspen City Council
determines to approve such amount in the City's final budget as adopted.
To effect the covenants set forth in (1) above, the Maker hereby direc~ the City's Finance
Director or any official succeeding to the duties, powers and functions of the City's Finance
Director at the time charged with the responsibility of formulating the Maker's budget to the
Aspen City Council, to include in each such budget submitted to the Aspen City Council in
any year in which this Note is in effect, items for all payments required for the ensuing fiscal
year under this Note. The Maker hareby covenants and agrees that it shall not amend,
modify or otherwise change the appropriations made in any finally adopted budget for the
payment of any payments hereunder.
C. Limitations on Liability.
Nothing herein shall be construed to require the Maker to appropriate any money to make
any payments hereunder. If the Maker fails to pay any amounts that are due hereunder (an
"Event of Default") or an Event of Nonappmpriation occurs, the Maker shall immediately
(but in no event earlier than the expiration of the then currant fiscal year for which the
Maker has paid or appropriated moneys sufficient to pay all amounts due for such fiscal
year, in the case of an Event of Nonappropriation) quit and vacate the real property standing
as security for the repayment hereof (the "Property"), and its obligation to make further
payments hereunder (except for payments theretofore appropriated and then available for
such purpose) shall thereupon cease, it being understood between the parties that neither the
State, the Maker nor any political subdivision of the State, except the Maker to the extent
provided herein, is obligated to make any payment hereuuder. Should the Maker fall to pay
any portion of the required payments and then fail immediately to quit and vacate the
Property, the Holder may immediately bring legal action to evict the Maker from the
Property (but not for money damages except as hereinafter provided) and commence
proceedings to foreclose the lien of the Trust Deed pursuant to its provisions. The Maker
hereby agrees, to the extent permitted by law, to pay as damages for its failure immediately
to quit and vacate the Property in violation of the terms hereof, an amount equal to the
payments otherwise payable during such period prorated on a daily basis. No judgment may
be entered against the State, the Maker or any political subdivision of the State for failure
to pay any amounts herennder or any portion thereof, except to the extent that the Maker
has theretofore appropriated funds for payments of amounts owed hereunder.
The payments due hereunder constitute current expenses of the Maker, and the Maker's
obligations hereunder are from year-tu-year only and do not constitute a mandatary payment
obligation of the Maker in any ensuing fiscal year beyond the then current fiscal year. No
provision hereof shall be construed or inteepreted as creafiag a general obligation or other
indebtedness of the State, the Maker or any political subdivision of the State within the
meaning of any constitutional or statutory debt limitation. The obligation to make payments
hereunder does not constitute or give rise to a general obligation or liability of, or a charge
against the general credit or taxing power of, the State, the Maker or any political
subdivision of the State. The execution, delivery and performance of this Note does not
directly or indirectly obligate the Maker to make any payments hereunder beyond those
appropriated for the Makex's then current fiscal year;provided, however, that nothing herein
shall be construed to limit the rights of the Holder to exercise the Holder's rights and
remedies hereunder and under the Deed of Trust given as security for the repayment of fids
Note ("Trust Deed").
Nonappropfiation.
In the~_event that sufficient funds (i) are not appropriated in the duly adopted City's budget
by }"~C~ ~.~ ~¥ ~ next preceding the beghming of any fiscal year, for the
payment of amounts payable hereunder during such ensuing fiscal year, or (ii) are otherwise
not legally available for such purpose, then an "Event of Nonappropriafion" shall be deemed
to have occurred; provided, however, that (a) the Holder shall declare an Event of
Nonappropriafion on any earlier date on which the Holder receives a written notice from the
Maker to the effect that the Maker has determined by official action not to appropriate
payments coming due under this Note for the next succeeding fiscal year, and Co) absent
receipt of such written notice and if an Event of Nonappropriation has otherwise occurred
as provided above, the Holder shall give written notice to the Maker of any Event of
Nonappropriafion, but any failure of the Holder to give such written notice to the Maker will
not prevent the Holder from declaring an Event of Nonappropriation or from taking any
remedial action that would otherwise be available to the Holder hereunder or under the Trust
Deed. The Holder may waive any Event of Nonappmpriafion that is cured by the Maker
within a reasonable time if, in the Hold~s judgment, such waiver is in the best interests of
the Holder. If an Event of Nanappropriation shall occur, the Maker shall not be obligated
to make payments hereunder beyond the last day of the fiscal year during which such Event
of Nonappropriatiun occurs; provided, however, that the Maker shall continue to be liable
for the amounts payable as set forth above daring such time when the Maker continues to
use, occupy and operate the Property. The Holder shall, upon the occurrence of an Event
of Nonappropriation and foreclosure of the lien of the Trust Deed, have all rights and
remedies to take possession of the Property as trustee for the benefit of the Holder.
The parties hereto agree that, upon the occurrence of an Event of Nonappropriation (which
is not waived) or an Event of Default (which is not waived), the Maker shall have all
responsibility for vacating the Property and shall vacate the Propeaty immediately following
such occurrence. Within ten (10) days after the occurrence of an Event of Nonappropriation
or an Event of Default, the Maker shall provide the Holder with a timetable for vacating the
Property, which timetable shall provide that the Maker shall completely vacate the Property
no later than ~ of the then current fiscal year.
The Maker shall provide to the Holder a written notice of any affirmative action taken by
the Maker not to appropriate funds or otherwise determine not to renew this Note within ten
(10) days of the taking of such action. Failure of Maker to provide such notice or failure to
otherwise notify the Holder of any action or failure of action shall not alTeet any termination
provided for herein.
Page 2
REAL PROPERTY OPTION AGREEMENT
GRANT OF LICENSE
400914 01/15/1997 10:54A ~'G 1 OF 17 REC DOC NOT
SILVlA DAVIS PITKIN COUNTY CLERK & RECORDER 86.00
This option agreement ("Agreement") is entered into this 9h day of October 1996, by and
between THE I-IILDUR L. ANDERSON TRUST U/T/D JULY 12, 1978, AS AMENDED, Albert
W. Anderson, Judith L. Anderson, Edwin P. Anderson, Mary Ann Benhart, James R. Anderson,
Cynthia A. Anderson, Alexa W. Anderson Irrevocable Trust dated November 28, 1995 Edwin P.
Anderson, Trustee, Brooke B. Anderson Irrevocable Trust dated November 28, 1995 Albert W.
Anderson, Trustee,/ames W. Anderson Irrevocable Trust dated November 28, 1995 Albert W.
Anderson, Trustee, Julie B. Anderson Irrevocable Trust dated November 28, 1995 Albert W.
Anderson, Trustee, Kelly D. Thompson Irrevocable Trust dated November 28, 1995 Albert W.
Anderson and Edwin P. Anderson Trustees, Jason Tanker Anderson Irrevocable Trust dated
December 28, 1995 Albert W. Anderson, Trustee, (collectively "Optionor") and THE CITY OF
ASPEN COLORADO, a Colorado Home Rule City COptionee").
Section 1.
Description of Real Property_. The real property is situated in Pitkin County,
Colorado, and is described as Lot 1, Anderson Subdivision, according to the
amended plat thereof ("Property").
Section 2.
Gram of Option and Term. Optionor grants to Optionee the exclusive right and
option to purchase the Property ("Option"). The Option shall terminate at midnight
sixty (60) days after written notice of the death of Hildur L. Anderson shall have
been given by the Optionor to the Optionee ("Expiration Date"). If the Option is
not exercised within said period, it shall automatically terminate without any
further action by Optionor and without any notice to Optionee or any other person,
and all rights of Optionee arising out of this Agreement shall immediately cease.
Optionee has the right to terminate Option at Optionee's sole discretion during the
term of the Option. Notwithstanding the foregoing, the Option may not be
exercised until the death of Hildur L. Anderson.
Section 3.
~. Upon execution of this Agreement, Optionee agrees to pay to
Optionor as consideration for the Option the sum of $1,000.00. Because of the
multiple optionor interests, for simplicity, such check shall be made payable to the
Trust Account at Oates, Hughes & Knezevich, P.C., for distribution to those
interests. The payment to Optionor shall be nonrefundable; however, such
paymem made to Optionor shall be applied towards ff~e purchase price upon
exercise of the Option.
Section 4.
Purchase Price and Paymem. If Optionee exercises this option in the manner
described in this Agreement, the amount payable ("Purchase Price") shall be
$1,475,000.00 payable as follows:
The Purchase Price shall be paid in good and sufficient funds upon closing,
or at the Optionee's option $500,000.00 in good and sufficiem funds upon
Closing, $500,000.00 plus accrued interest at the rate of six (6%) percem
on the unpaid principal balance on the first anniversary of closing and the
balance of $475,000.00 plus accrued interest at the rate of six (6%) percent
per annum on the remaining balance on the second anniversary of closing.
The balance deferred shall be evidenced by the Optionor's Promissory Note
secured by a First Priority Deed of Trust encumbering the Property for the
use and benefit of the Optionor.
Section 5.
Manner 0f Exercise. This Option shall be exercised after Optionor shall have given
the Optionee written notice of the death of Hildur L. Anderson and before the
Expiration Date (but such notice regardless of when given shall not require the
400914 01/15/1997 10:54A ~G 2 OF 17
Optionee to cia)se b~fore~M~rch J.;-l~)~b~~' Op~0-nee ~iv~r/g ~itten notice
("Notice of Exercise") to Opfionor by either tendering Notice of exercise in person
to Optionor or by sending such written notice to Optionor in accordance with the
notice provisions hereof in the United States mails. The date upon which such
written notice is tendered in person or the date when such notice is mailed as
provided herein shall be the "Exercise Date". The notice shall designate a date for
Closing which is not less than fifteen (15) and not more than thirty (30) days
beyond the Exercise Date, but not prior to March 1, 1998 unless Optionee elects
after Hildur L. Anderson's death to waive the March 1, 1998 date above specified.
The Option shall be exercised no later than the Expiration Date.
Section 6.
Conveyance and Optionor's Title. Optionor shall furnish to Optionee a standard
owner's title insurance policy in the mount of the purchase price from Pitk'm
County Title, Inc., showing good and marketable title subject only to the
exceptions above stated. Opfionee may elect to purchase an ALTA owner's policy
with additional endorsements. Any additional expense above and beyond the
premium for a standard owner's policy shall be borne by Optionee. Opfionor has
furnished to Opfionee a title commitment showing the condition of title to the
Property. A copy thereof is attached hereto as Exhibit "A". Title as reflected in
said Exhibit "A' is agreed to be acceptable to the Optionee. Optionor shall convey
the Property at Closing to Optionee by general warranty deed, free and clear of all
liens and encumbrances except zoning ordinances, building and use restrictions,
reservations and federal patents, utility easements of record as set forth in Exhibit
"A" with no other exceptions. Optionor agrees to deliver to the Optionee a Quit
Claim Deed for any water right which might be appurtenant to the Property.
Section 7.
License. The Optionor, for the sum of $224,000.00, the receipt and sufficiency
of which is hereby acknowledged, hereby grants to the Optionee an exclusive
license to use and occupy that portion of the Property to be described in Exhibit "B"
to be approved by the Optionor and Optionee and attached hereto, being Fourteen
(14) feet in width for use as a pedestrian/bicycle trail during the lifetime of Hildur
L. Anderson and for a term from the date hereof until One Hundred and Twenty
(120) days following the death of Hildur L. Anderson, on the condition that the
Optionee shall and Optionee does hereby agree to indemnify and hold harmless the
optionor from any and all liability for personal injury, death, and/or property
damages arising from the construction, maintenance, condition, repair and use of
the licensed area by the Optionee, its agents, employees and its invitees to the full
extent permitted by law. Exhibit "B" has not presently been prepared because
Optionor is investigating the best alignment for pedestrian/bicycle trail. Exhibit
"B" shall be prepared by the Optionee and Optionor shall not unreasonably
withhold approval thereof. For purposes of construction, the license area shall be
temporarily extended to Eighteen (18) feet to accommodate such construction.
Upon completion of construction, the Optionee shall restore the unpaved portion
of the licensed area to substantially the same or better condition which is/was found
prior to construction.
Section 8.
Optionor's Warranty. Optionor warrants that, as of the Closing date, there will be
no parties in possession of any portion of the Property, there will be no leases
affecting the Property, and there will be no unrecorded liens affect'rog the Property
created through the Optionor's voluntary act.
Section 9.
Closing. Closing shall occur at the offices of Pitkin County Title, Inc. in Aspen,
Colorado ("Closing Agent"). Closing shall take place in the manner set forth in
this Agreement, and the Closing Agent shall prorate as of the Closing date, ad
valorem real estate taxes and normal prorations on a calendar year basis. Optionee
shall be responsible for payment of all ad valorem real property taxes accruing
from and after the Closing date. The parties shall share equally the reasonable cost
of closing services.
400914
01/15/1997 10:54A PG 3 OF 17
Section 10. Remedies. The parties shall be entitled to such remedies for breach of contract as
may be available under applicable law including, without limitation, the remedy of
specific performance by the Optionee.
Section 11.
Assignment. This Option Agreement shall be binding upon and inure to the benefit
of the parties hereto, and their respective heirs, personal representatives, successors
and assigns.
Section 12.
Recording. A Memorandum hereof in form acceptable to the Optionor and
optionee may be recorded in the real property records of Pitkin County, Colorado,
reciting that the Optionee holds and exclusive option to purchase the property.
Section 13. Time. Time is of the essence of this Agreement.
Section 14.
Tax-Deferred Exchange. Optionor may elect to effect a Section 1031 Tax-Deferred
Exchange. Such exchange shall not cause Optionee any additional expense or
unreasonable delay. Optionee agrees to cooperate in such exchange.
Section 15.
Notices. Any notices permitted or required under this Agreement shall be deemed
given upon the date of personal delivery or deposit in the United States mail,
postage fully prepaid, return receipt requested, addressed to Optionee at:
City of Aspen
133 South Galena Street
Aspen, CO 81611
Attn: City Manager
With a copy to:
City of Aspen
133 South Galena Street
Aspen, CO 81611
Attn: City Attorney
Section 16.
Section 17.
Addressed to the Optionor at:
C/O: Albert W. Anderson
P.O. Box 1862
McCalester, OK 74502
With a copy to:
Leonard M. Oates, Esq.
Oates, Hughes, & Knezevich, P.C.
533 East Hopkins Avenue
Aspen, CO 81611
Or at any other address as any party may, from time to time, designate by notice
given in compliance with this section.
Survival. Any of the terms and covenants contained in this Agreement which
require the performance of either party after the Closing shall survive the Closing
and delivery of the deed.
Law Governing. This Agreement shall be governed by and construed in
accordance with the laws of the State of Colorado.
3
400914
01/15/1997 10:54A PG 4 OF 17
Section 18. Attorney Fees. In the event a suit or action is brought by any party under this
Agreement to enforce any of its terms, or in any appeal therefrom, it is agreed that
the prevailing party shall be entitled to reasonable attorneys fees to be f'txed by the
trial court and/or appellate court.
Section 19.
presumption. This Agreement or any section thereof shall not be construed against
any party due to the fact that said Agreement or any section thereof was drafted by
said party.
Section 20.
Comoutation of Time. In computing any period of time pursuant to this
Agreement, the day of the act, event or default from which the designated period
of time begins to run shall be included, unless it is a Saturday, Sunday or a legal
holiday, in which event the period shall begin to run on the next day which is not
a Saturday, Sunday or a legal holiday, in which event the period shall run until the
end of the next day thereafter which is not a Saturday, Sunday or legal holiday.
Section 21.
Titles and Captions. All article, section and paragraph titles or captions contained
in this Agreement are for convenience only and shall not be deemed part of the
context nor affect the interpretation of this Agreement.
Section 22.
Pronouns and Plurals. All pronouns and any variations thereof shall be deemed to
refer to the masculine, feminine, neuter, singular or plural as the identity of the
person or persons may require.
Section 23.
~. This Agreement contains the entire understanding between and
among the parties and supersedes any prior understandings and agreements among
them respecting the subject matter of this Agreement.
Section 24.
Agreement Binding. This Agreement shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties hereto.
Section 25.
Authority. of Si_m~atories. The Trustees, in executing this Agreement on behalf of
the Optionor represent that they are the sole Trustees of the Optionor and have full
authority to execute this Agreement and bind the Optionor. The parties signatory
hereto for the Optionee represent they have full authority to execute this Agreement
and bind the Optionee hereunder, and that all actions required under law have been
taken by the Optionee to authorize the execution hereof for a valid and binding
obligation of the Optionee.
Section 26.
Further Action. The pa~'les hereto shall execute and deliver all documents,
provide all information and take or forebear from all such action as may be
necessary or appropriate to achieve the purposes of this Agreement.
Section 27.
Counterparts. This Agreement may be executed in several counterparts and all so
executed shall constitute one Agreement, binding on all the parties hereto even
though all the parties are not signatories to the original or the same counterpart.
Section 28.
Parties in Interest. Nothing herein shall be construed to be to the benefit of any
third party, nor is it intended that any provision shall be for the benefit of any third
party.
Section 29.
Name Dedication. Although no condition has been placed by the Optionor on the
use of the Property if the Optionee shall exercise the Option and purchase the
Property, the Optionee agrees that the Property will be designed by a name
including "Bill and Hildur Anderson" and, in addition that a tree or rock monument
will be dedicated on the Property to their deceased daughter, Margie Anderson.
4
400914 01/15/1997 10:54A PG 5 OF 17
O?TIONOR
HILDUR L. ANDERSON TRUST u/fid July 12,
1978, as amended
By
Albert W. Anderson, Trustee
By
Edwin Paul Anderson, Trustee
Albert W. Anderson
Judith L. Anderson
Edwin P. Anderson
Mary Ann Benhart
James R. Anderson
ALEXA W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
By
Edwin P. Anderson, Trustee
5
400914 01/15/1997 10:54A PG 6 OF 17
OPTIONOR
HILDUR L. ANDERSON TRUST u/t/d July 12,
1978, as amended
By
Albert W. Anderson, Trustee
Edwin Paul Anderson, Trustee
Albert W. Anderson
Judith L. Anderson
Edwin P. Anderson
Mary An~B~nhart
James R. Anderson
Cynthia A. Anderson
ALEXA W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Edwin P. Anderson, Trustee
5
4009i4
01/15/1997 10.~4A PG 7 OF 17
OPTIONOR
HILDUR L. ANDERSON TRUST u/t/d July 12,
1978, as amended
Albert W. Anderson, Trustee
By
Edwin Paul Anderson, Trustee
Albert W. Anderson
~.4'udith L. Anderson
Edwin P. Anderson
Mary Ann Benhart
James R. Anderson
Cynthia A. Anderson
ALEXA W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
By.
Edwin P. Anderson, Trustee
BROOKE B. ANDERSON IRREVOCABLE
TRUST DATED NOVEMBER 28, 1995
By.
Albert W. Anderson, Trustee
JAMES W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
By.
Albert W. Anderson, Trustee
JULIE B. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
By.
Albert W. Anderson, Trustee
KELLY D. THOMPSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
By.
Albert W. Anderson, Trustee
Edwin P. Anderson, Trustee
JASON TANKER ANDERSON IRREVOCABLE
TRUST DATED DECEMBER 28, 1995
By
Albert W. Anderson, Trustee
400914
01/15/1997 10:54A PG 8 OF 17
BROOKE B. ANDERSON IRREVOCABLE
TRUST DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
JAMES W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
JULIE B. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
KELLY D. THOMPSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
By.
Edwin P. Anderson, Trustee
JASON TANKER ANDERSON IRREVOCABLE
TRUST DATED DECEMBER 28, 1995
Albert W. Anderson, Trustee
400914 01/15/1997 10:54A PG 9 OF 17
Attest:
OPTIONEE
CITY OF ASPEN, COLORADO
,City Clerk
By
STATE OF COLORADO )
)SS.
COUNTY OF RIO BLANCO )
The forgoing instrument was subscribed and sworn to before me this __ day of
, 1996, by Edwin Paul Anderson, Individually as Trustee of the Hildur L.
Anderson Trust, u/t/d July 12, 1978, as amended; and as Trustee of the Alexa W. Anderson
Irrevocable Trust and the Kelly D. Thompson Trust dated November 25, 1996.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
Notary Public
STATE OF OKLAHOMA )
)SS.
COUNTY OF '~-['l~5hog_a )
-- Thee forgoing instrument was subscribed and sworn to before me this IOq'~day of
(,~ ,1996, by Albert W. Anderson, Individually and as Trustee of t~e ~ildur L.
Anderson Trust, u/t/d July 12, 1978 as amended; and as Trustee of the Brooke Anderson
Irrevocable Trust, the James W. Anderson Irrevocable Trust, the Julie B. Anderson Irrevocable
Trust, the Kelly D. Thompson Irrevocable Trust, and the Jason Tanker Anderson Irrevocable
Trust, all dated November 25, 1995.
WITNESS my hand and of. ff~cial seal.
My commission expires~c~fq~/q
?
400914 01/15/1997 10:54A PG 10 OF 17
Attest:
OPTIONEE
CITY OF ASPEN, COLORADO
,City Clerk
By
STATE OF COLORADO )
)SS.
COUNTY OF RIO BLANCO )
The forgoing instrument was subscribed and sworn to before me this /~t~ day of
{~e_+o[~_r , 1996, by Edwin Paul Anderson, Individually as Trustee of the Hildur L.
Anderson Trust, u/t/d July 12, 1978, as amended; and as Trustee of the Alexa W. Anderson
Irrevocable Trust and the Kelly D. Thompson Trust dated November 25, 1996.
WITNESS my hand and official seal.
MY CO _MMISSION EXPIRES:
june 9, 2000
Notary Public
STATE OF OKLAHOMA
COUNTY OF
The forgoing instrument was subscribed and sworn to before me this __ day of
,1996, by Albert W. Anderson, Individually and as Trustee of the Hildur L.
Anderson Trust, u/t/d July 12, 1978 as amended; and as Trustee of the Brooke Anderson
Irrevocable Trust, the James W. Anderson Irrevocable Trust, the Julie B. Anderson Irrevocable
Trust, the Kelly D. Thompson Irrevocable Trust, and the Jason Tanker Anderson Irrevocable
Trust, all dated November 25, 1995.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
Notary Public
7
400914 01/15/1997 10:54A PG 11 OF 17
OPTIONEE
CITY OF ASPEN, COLORADO
,City Clerk
By
STATE OF COLORADO )
)SS.
COUNTY OF RIO BLANCO )
The forgoing instrument was subscribed and sworn to before me this __ day of
, 1996, by Edwin Paul Anderson, Individually as Trustee of the Hildur L.
Anderson Trust, u/t/d July 12, 1978, as amended; and as Trustee of the Alexa W. Anderson
Irrevocable Trust and the Kelly D. Thompson Trust dated November 25, 1996.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
Notary Public
STATE OF OKLAHOMA
COUNTY OF
The forgoing instrument was subscribed and sworn to before me this __ day of
, 1996, by Albert W. Anderson, Individually and as Trustee of the Hildur L.
Anderson Trust, u/t/d July 12, 1978 as amended; and as Trustee of the Brooke Anderson
Irrevocable Trust, the James W. Anderson Irrevocable Trust, the Julie B. Anderson Irrevocable
Trust, the Kelly D. Thompson Irrevocable Trust, and the Jason Tanker Anderson Irrevocable
Trust, all dated November 25, 1995.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
Notary Public
400914 01/15/1997 10:54A PG 12 OF 17
STATE OF (9](Lh~om~)
COUNTY OF &Oa )
~ ~hq forgo~g insmem was subscribed ~d sworn to before me ~is __
~~ ~ , 1996, by 3udi~ L. Anderson.
WITNESS my hand and offi/c~al seal. ~' commission expires:
/O~--day of
STATE OF )
)SS.
COUNTY OF )
The forgoing instrument was subscribed and sworn to before me this __
,1996, by Mary Ann Benhart.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
day of
Notary Public
STATE OF ARIZONA
COUNTY OF:
The forgoing instrument was subscribed and sworn to before me this __
,1996, by James R. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
day of'
Notary Public
400914
$
01/15/1997 10:54A Pi3 lB OF 17
STATE OF )
)SS.
COUNTY OF )
The forgoing instrument was subscribed and sworn to before me this __
,1996, by Judith L. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
day of
Notary Public
STATE OF )
)SS.
COUNTY OF )
The forgoing instrument was subscribed and sworn to before me this __
,1996, by Mary Ann Benhart.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
day of
Notary Public
STATE OF ARIZONA )
)SS.
COUNTY OF F't.4 t.,/tq )
The forgoing instrument was subscribed and sworn to before me this
_/3)c-/o~,e~ , 1996, by James R. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
~ OeORaE P. AIdAVISCA
~ ~ COUN~ I
lXlotaryfftlblic ~'""
day of
8
400914 01/15/1997 10:54A PG 14 OF 17
STATE OF
COUNTY OF
The forgoing instrument was subscribed and sworn to before me this
,1996, by Judith L. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
__ day of
Notary Public
STATE OF
COUNTY
The forgoing instrument was subscribed and sworn to before me this /¢~-h day of
{~e-t-~ b ~ ,1996, by Mary Ann Bdnhart.
WITNESS my hand and official seal.
My commission expires:
STATE OF ARIZONA
COUNTY OF
.MY C~ON EXPIRE$:
June 9, 2000
Notary Public
The forgoing instnument was subscribed and sworn to before me this __
,1996, by James R. Anderson.
dayof
WITNESS my hand and official seal.
My commission expires:
(SEAL)
Notary Public
400914
01/15/1997 10:54A P{~ 15
OF 17
STATE OF )
)SS.
COUNTY OF )
The forgoing instrument was subscribed and sworn to before me this
,1996, by Cynthia A. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
day of
Notary Public
STATE OF COLORADO
COUNTY OF PITKIN
The forgoing instrume~.nt was s~g~ribed and, sworn to before/~e this f~.~i day of
{A~d(J~ ,19~96, by ~~ as~~ a~
~4~ ~ ~ ff as City Clerk of ~e City of Aspen, ColOrado.
~TNESS my h~d ~d official seal.
expires:~
400914 01/15/1997 10:54A PG 16 OF 17
C: \ DA TA \ Cl ien t $ \ ZIFF \ REMOTE I OPTION. AND 9
STATE OF ~ IZO~ )
)SS.
COUNTY OF '~/b//-v/~ )
The forgoing instrument was subscribed and sworn to before me this /57~k
e.4ofiev , 1996, by Cynthia A. Anderson.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
6m ^, I
~ GEORGE P. AMAVI~CA I
~1~ Notarypublic-Stateo~Arlzona I
~ YU~ ~UN~ I
.. day of
STATE OF COLORADO
COUNTY OF PITKIN
The forgoing instrumem was subscribed and sworn to before me this
,1996, by as
as City Clerk of the City of Aspen, Colorado.
WITNESS my hand and official seal.
My commission expires:
(SEAL)
__ day of
and
Notary Public
400914 01/15/1997 10:54A P~3 17 OF 17
C: \DATA\Clients\ZIFFIREMOTE\OPTION. AND 9
DAVID B KELLY
OF COUNSEL:
JOHN THOMAS KELLY
David Hoefer, Esq.
Assistant City Attorney
City of Aspen
130 S. Galena Street
Aspen, CO 81611
Ed Anderson
222 Dakota
Rangely, CO 81648
LAW OFFICES OF
OATES, HUGHES & KNE]ZEVICH
ASP£N COLORADO 81611
October 18, 1996
Albert Anderson
1804 Cardinal
McAlester, OK 74501
Jim Anderson
154 East 25t~ Street
Yuma, AZ 85364
Re: Real Property Option Agreement and Grant of License
Dear David, Bert, Jim & Ed:
Enclosed is the fully executed Real Property Option Agreement and Grant of License.
I am sending herewith an original signed in counterparts to Dave Hoefer, and machine copies
to Bert, Jim, and Ed. I have retained an original counterpart signed copy in our office for
safekeeping unless otherwise directed by Bert.
Very truly yours,
OATES, HUGHES & KNEZEVICH, P.C
Leonard M. Oaths
LMO/ac
Enclosure
GENERAL WARRANTY DEED
,
THIS GENERAL WARRANTY DEED, made this
1999, between A.W. Anderson and Edwin Paul Anderson, as Trustees of the Hildur L. Anderson
Trust Under That Certain Trust Agreement Made By Hildur L. Anderson In Instrument Dated.~
July 12, 1978, The Hddur L. Anderson Trust, U/T/D July 12, 1978 As Amended, Albert
Anderson and Edwin P. Anderson, Trustees, Albert W. Anderson, Judith L. Anderson, Edwin.~'~
P. Anderson, Mary Ann Benhart, James R. Anderson, Cynthia A. Anderson, Brooke B. Anderson
Irrevocable Trust dated November 28, 1995, James W. Anderson Irrevocable Trust dated~
November 28, 1995, Kelly D. Thompson Irrevocable Trust dated November 28, 1995, Julie B. ~'~-~
Anderson Irrevocable Trust dated November 28, 1995, Alexa W. Anderson Irrevocable Trust
dated November 28, 1995, Jason Tanker Anderson Irrevocable Trust dated December 28, 1995,
and Kenya Margaret Nance Irrevocable Trust dated December 31, 1996 (collectively~.~
"Grantors ), and the City of Aspen, Colorado, a Colorado Home Rule City, whose legal address
is: 130 South Galena Street, Aspen, Colorado 81611, of the County of Pitkin, State of Colorado
(" Grantee)":
WITNESSETH, That the Grantors for and in consideration of the sum of ONE MILLION
FOUR HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($1,475,000.00) and other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, have
granted, bargained, sold and conveyed, and by these presents do grant, bargain, sell, convey and
confirm, unto the Grantee, its successors and assigns forever, all the real property together with
improvements, if any, situate, lying and being in the County of Pitkin, State of Colorado
described as follows:
inL°tplatl' AndersOnBook 8 atSUbdivisi°n'Page 62. according to the Plat thereof recorded
TOGETHER, with all and singular the hereditaments and appurtenances thereto
belonging, or in anywise appertaining, and the reversion and reversions, remainder andxJ '
remainders, rents, issues and profits thereof, and all the estate, right, title, interest, claim and
demand whatsoever of the Grantors, either in law equity, of, in and to the above bargained
premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD, the said premises above bargained and described, with the
appurtenances, unto the Grantee, its successors and assigns forever. And the Grantors, for
themselves, their heirs, personal representatives and assigns, do covenant, grant, bargain, and
agree to and with the Grantee, its successors and assigns, that at the time of the ensealing and
delivery of these presents, they are well seized of the premises above conveyed, have good, sure,
perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and have good right,
full power and lawful authority to grant, bargain, sell and convey the same in manner and form
as aforesaid, and that the same are free and clear from all former and other grants, bargains, sales,
liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature soever, except
and subject to Real Property taxes for 1999 payable in 2000; building and zoning regulations; and
THOSE ITEMS DESCRIBED ON EXB11~IT "A" ATTACHED HERETO AND
INCORPORATED BY REFERENCE HEREIN AND THE TERMS AND CONDITIONS
THEREOF.
The Grantors shall and will WARRANT AND FOREVER DEFEND the above-bargained
premises in the quiet and peaceable possession of the Grantee, its successors and assigns, against
all and every person or persons lawfully claiming the whole or any part thereof. The singular
number shall include the plural, the plural the singular, and the use of any gender shall be
applicable to all genders.
I IIIIII IIIII IIIIII IIII IIIIII IIII IIIIIII III IIIII IIII IIII
435555 99/15/1999 02:45P ND DRVIS SILV!
I of 7 R 35.99 D 9.99 N 9.99 PZTKIN COUNTY CO
IN WITNESS WHEREOF, the Grantors have executed this deed on the date set forth
above.
; )
By 4~,~~
A.W. Anderson, Trustee Of The Hildur L.
Anderson Trust Under That Certain Trust
Agreement Made By Hildur L. Andersen In
Instrument Dated July 12, 1978
B:
Edwin Paul Anderson, Trustee Of The Hildur L.
Anderson Trust Under That Certain Trust
Agreemem Made By Hildur L. Andersen In
Instrument Dated July 12, 1978
THE HILDUR L. ANDERSON TRUST U/T/D
JULY 12, 1978, AS AMENDED
Albert W. Anderson, Trustee
Edwin Paul Anderson, Trustee
,~fl~er~ W. Anderson
~th L. Anderson
Edwin P. Anderson
Mary An~enl~ar t
~s-R. An/d~er so n
Page 2
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BROOKE B. ANDERSON IRREVOCABLE
TRUST DATED NOVEMBER 28, 1995
Albert W.-A~derson, VFrus~ee
JAMES W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
KELLY D. THOMPSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Albert W. Anderson, Trustee
Edwin P. Anderson, Trustee
JULIE B. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
,~lbert W. Ander~o~ T-rustee
Page 3
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ALEXA W. ANDERSON IRREVOCABLE TRUST
DATED NOVEMBER 28, 1995
Edwin P. Anderson, Trustee
JASON TANKER ANDERSON IRREVOCABLE
TRUST DATED DECEMBER 28, 1995
Albert W. Anderson, Trustee
KENDRA MARGARET NANCE IRREVOCABLE
TRUST DATED DECEMBER 31, 1996
, Trustee
STATE OF COLORADO
COUNTY OF PITKIN
The forgoing instrument was subscribed and sworn to before me this /?/Sayk of
~¢)O 0~--~f , 1999, by Edwin Paul Anderson, individually and as Trustee of the Hildur L.
AnderSon Trust Under That Certain Trust Agreement Made By Hildur L. Andersen In Instrument
Dated July 12, 1978, and as Trustee of The Hildur L. Anderson Trust, U/T/D July 12, 1978, As
Amended; and as Trustee of the Alexa W. Anderson Irrevocable Trust Dated November 25, 1995,
and the Kelly D. Thompson Irrevocable Trust Dated November 25, 1996.
[Seal]
WITNESS my hand and official seal.
My commission expires:
My Commission Expires
November 13, 1999
Notary Public
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Page 4
STATE OF COLORADO
SS.
COUNTY OF PITKIN
,}i ~.~0 The ~ rgoi;~gi~. ~umA~;;r~V s~:~irbsoedn ainn~iSviW;:~lltOabn~f~eTr~tetheiSof ~! ~'~ildd~ of
o}n ' g j . anaersen In Instrument
Anders Trust Under That Certain Trust A reement Made B- Hildur L ' '
Dated July 12, 1978, and as Trustee of The Hildur L. Anderson Trust, U/T/D July 12, 1978, As
Amended; and as Trustee of the Brooke B. Anderson krevocable Trust Dated November 25,
1995, the James W. Anderson Irrevocable Trust Dated November 25, 1995, the Julie B. Anderson
Irrevocable Trust Dated November 25, 1995, the Kelly D. Thompson Irrevocable Trust Dated
November 25, 1995, the Jason Tanker Anderson Irrevocable Trust Dated December 25, 1995,
and the rendra Margaret Nance Irrevocable Trust Dated December ~,, ~/~.--'~~~~
WITNESS my hand and official seal.
My commission expires: My
[Seal] N0~emtnr
Not~y Public
STATE OF COLORADO
SS.
COUNTY OF PITKIN
The forgoing instrument was subscribed and sworn to before me this . _
0~t)~'~'~/- , 1999, by Judith C. Anderson.
WITNESS my hand and official seal.
My
commission
~i~ni~ion E~r~
[Seal]
/F day
of
Notary Public
STATE OF ~~ }ss.
COUNTYOF ~ ~,t,~
,,~ The forgoing instrument was subscribed and sworn to before me this
~~_~__, 1999, by Mary Ann Benhart.
WITNESS my hand and official seal.
My commission expires: ~_$/- ~2~o0
[Seal]
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C'~?Tz~e ~J_~
Notary Pul~lic
Page 5
STATE OF COLORADO
COUNTY OF PITKIN
[Seal]
The_1 forgoing instrument was subscribed and sworn to before me this .
D~-/~ , 1999, by James R. Anderson.
WITNESS my hand and official seal. .~
My commission expires:
/,~:.-... -..~
My Commission Expires
November 13, 1999 ~ { LEONARD I
Notary Public ~"~
/~ ~day of
STATE OF ~"~-
cou~roF Ut~ j'
SS.
f'~ The forgoing insmunent was subscribed and sworn to before me this ~ day of
U.l,l~ , 1999, by Cynthia A. Anderson.
WITNESS my hand and official seal.
My commission expires:
[Sea]
STATE OF
SS.
COUNTY OF ~-F'~_~)~
/~ The forgoing instrumep~t./~as stlbscribed arid sw, orn to before me this ~day of
Ocr 0~ , 1999 by ~ ~0~ [~J~ .~[~e~D . as Tms~e
of ~e ~en&a M~g~et Nance Irrevocable Trust Dat~ December 31, 1996.
[Seal]
WITNESS my hand and official seal.
My commission exp~q~om~i~ ~
Navember 13, Igg~
Notary Public~
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Page 6
EXHIBIT "A"
Reservations and mineral exceptions as contained in United States
Patent for Riverside Placer, U.S.M.S. No. 3905, recorded in Book 175
at Page 246.
Right of way for ditches or canals constructed by the authority of
the United States as reserved in United States Patent recorded in
Book 185 at Page 69,
Terms, conditions, provisions, obligations and all matters as set
forth in Subdivision Improvements Agreement recorded December 19,
1979 in Book 380 at Page 750.
Easements, rights of way and all matters as disclosed on Plat of
subject property recorded December 19, 1979 in Plat Book 8 at Page
62.
Terms,, conditions, provisions and obligations as set forth in Lot
Line Adjustment and Sewer Easement Agreement recorded July 3, 1995
in Book 785 at Page 801.
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SILVIA DflVIS PITKIN COUNTY CO
459072
Page: 1 or' 1
09/25/2001 03:32P'
O 0.00
REQUEST FOR RELEASE OF DEED OF TRUST AND RELEASE
September ,2001 Date
City of Aspen, a Colorado Home Rule City Grantor (Borrower)
AW Anderson & Edward Paul Anderson. as Original Beneficiary
Trustees for the Hildur L. Anderson Trust; & others (Lender)
September 15, 1999
Date of Deed of Trust
September 15, 1999
Piikin County
Recording Date of
Deed of Trust
County of Recording
435556
N/A
Reception and/or Film Nos. of Recorded Deed of Trust
Book and Page of Deed of Trust
TO THE PUBLIC TRUSTEE OF
Pitkin County (The Public Trustee to which the above Deed of Trust conveys the said property).
Please execute this release, as the indebtedness secured by the Deed of Trust has been fully or partially paid and/or th{
purpose of the Deed of Trust has been fully satisfied.
AW Anderson & Edward Paul Anderson as Trustees for the Hildur L. Anderson Trust; & others
Current Owner and Holder of the Evidence of Debt Secured by Deed of Trust (Lender)
Leonard M. Oates, Attorney & Agent
Name and Title of Agent or Officer of Current Owner and Holder
State of Colorado, County of Pitkin
The foregoing request for release was acknowledged
before me on September V"~ , 2001
By Leonard M. Oates
Witness My ~and:'~v~e[l~ / .5
Date Commission Expires ',. , Notary Public
RELEASE OF DEED OF TRUST
WHEREAS, the above referenced Grantor(s), by Deed of Trust, conveyed certain real property described in said Deed of Trust,
to the Public Trustee of the County referenced above, in the State of Colorado, to be held in trust to secure the payment of the indebted-
ness referred to therein; and
WHEREAS, the indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of
Trust has been fully satisfied as set forth in the written request of the current owner and holder of the said indebtedness.
NOW, THEREFORE, in consideration of the premises and the payment of the statutory sum, receipt of which is hereby acknowledged
I, as the Public Trustee in the County first referenced above, do hereby remise, release and quitclaim unto the present owner or owners of
said real property, and unto the heirs, successors and assigns of such owner or owners forever, all the right, title and interest which I have
under and by virtue of the aforesaid Deed of Trust in the real estate described therein, to have and to hold the same, with all the privileges
and appurtenances thereunto belonging forever; and further I do hereby fully and absolutely release, cancel and forever discharge said
Deed of Trust.
State of Colorado
County of Pitkin
The fore:going instrument was acknowledged before
dedged
me on c~ - ~_ Ol by Carol L. Foote as the
- ,001
Deputy Trustee for Pitkin County, Colorado.
My commission expires December 2 2003. _ as the
~stee of
County, Colorado,
, Date Commission Expires
Original Note and Deed of Trust Returned to:
~ ~. ~ Public Truslee
Hand and Seal:
Notary Public
l~ly Commission Expires ~2/02i2003
I~SOLUTION NO. ~
SERI~S OF 1~9~
A RESOLUTION OF THE CITY COUNCIL OF THE. CITY OF ASPEN,
COLORADO, APPROVING A REAL PROPERTY OPTION AGREEMENT
AND GRANT OF LICENSE BETWEEN ~ CITY OF ASPEN AND
TUF~ ~rH.I~UR L. ANDERSON TRUST FOR THE PURCHASE OF LOT 1,
ANDERSON SUBDIVISION BY THE CITY OF ASPEN, COLORADO.
WHEREAS, a Real Property Option A~reement and Grant of License between the
I-~ldur L. Anderson Trust, Opfionor, and the City of Aspen, Optionee, a true and
accurate copy of which is hereto attached as Exhibit A. has been submitted to the
City Council for formal approval, and
WHEREAS, the Parks Department budget has .~m¢ient funds desi/~ated for this
acquisition,
NOW, THEREFORE, BE 1T RESOLVED by the City Council of the City of Aspen,
Colorado,
That the City Council of the City of Aspen hereby approves the Real Property Option
Agreement and Grant of License between the Hildur L. Anderson Trust and the
City of Aspen, a copy of which is annexed hereto and incorporated herein, and does
hereby authorize the Mayor of the City of Aspen to execute said agreement on behalf
of the City of Aspen.
RESOLVED, APPROVED, AND ADOPTED this 2$th day of October, 1996, by the
City Council for the City of Aspen, Colorado.
~ohu S'. Beunett, Mayor
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing
is a true and accurate copy of that resolution adopted by the City Council of the City of
Aspen, Colorado, at a meeting held on the day hereinabove stated.
STATSI~ENT OF ~l'lz]~qT
Buyer's
Property Address: ~ 1, ANDERSC~ SUB ASPS~, CO 81611
Purchaser: CITY OF ASPEN
Settlement Date: 09/15/99
Date of Proration: 09/15/99
Legal Descripticm:
LOT 1, ANDERSC~ SUBDMSIC~q, according to the Plat thereof recorded in
Plat Book 8 at Page 62.
File No: PCTl1247
Description Debit Cmedit
Contract Sales Price ....................................... 1,475,000.00
Loan frcm Seller ........................................... 975,000.00
~ TAXES 01/01/99 to 09/15/99 ........................ 3,206.80
Settlement Fee to PITKIN CCE~FfY TITLE, INC ................ 150.00
Title Insurance to PITKIN ~ TITLE, INC ............... 100.00
Sub-Totals 1,475,250.00 978,206.80
Balance due fro~ Buyer 497,043.20
TCqlALS 1,475,250.00 1,475,250.00
Broker:
By:
Broker:
my:
PITKIN COUNTY TITLE, INC.
STAT~b~qT OF ~'I'±12~SR~T
Seller ' s
Property ~Swess: LOT 1, ANDERSC~ SUB ASPS, CO
Seller: HILDUR ANDERSC~ ET.AL.
Purchaser: CITY OF ASP~I~
Settlement Date: 09/15/99
Date of Proration: 09/15/99
81611
lec3al Description:
LOT 1, ASDERSONSURDMSICN, accordin9 to the Plat thereof recorded in
Plat Book 8 at Page 62.
File No: PCTl1247
Descriptic~ Debit Credit
Contract Sales Price ....................................... 1,475,000.00
Payoff loan ................................................
Payoff loan ................................................
Loan to Purchaser ..........................................
CYJRRENTTAXES 01/01/99 to 09/15/99 ........................
Settlement Fee to PITKIIq fDIITIY TITLE, IlqC ................
Title Insurance to PITKIN COUNTY TITLE, INC ...............
975,000.00
3,206.80
150.00
1,541.00
Sub-~tals
~l~ce ~eto Seller
TOTALS
979,897.80
495,102.20
1,475,000.00
1,475,000.00
1,475,000.00
Broker:
mi:
Broker:
By:
PITI~IN COUNTY TZTLE, INC.
REAL ESTATE TAX AGREEMENT
RE:
Order No: PCTl1247
Buyer(s): CITY OF ASPEN
Seller(s): HILDUR ANDERSON ET.AL.
Property: LOT 1, ANDERSON SUB -
ASPEN, CO 81611
The undersigned Buyer(s) and Seller(s) do hereby understand and agree that
the proration for general property taxes was calculated on the basis of:
~{XX~ Taxes have been prorated on an estimate of $4,554.40 for the
year 1999 and are to be considered a final settlement.
Taxes have been prorated on an estimate of $4,554.40 for the
year 1999 and will be readjusted between the Seller(s) and
Buyer(s) when the actual tax statement becomes available.
Taxes have been prorated on the amount of the previous year's
taxes of $4,554.40 and are to be considered a final settlement.
Taxes have been prorated on the amount of the previous year's
taxes of $4,554.40 and will be readjusted between the Seller(s)
and Buyer(s) when the actual tax statement becomes available.
Taxes have not been prorated in the settlement statements and will
be adjusted between purchasers and sellers when the actual tax
statement becomes available for the year of closing.
Accordingly, the Buyer(s) and Seller(s) do hereby hold Pitkin County Title, Inc.,
harmless from any liability or damages caused by an inaccurate proration
for general property taxes resultin9 from any variation of difference in the
actual general property taxes assessed for the current year. Both Buyer(s)
and Seller(s) agree to make the proper proration as may be required subsequent
to the closing, and it is also understood and agreed that any prorations not
reflected on the Settlement Statement in regard to utilities that the Seller shall
be responsible for any final payment(s) due for such utilities and in the event
a lien is filed for any unpaid utilities and Pitkin County Title, Inc., is
r~.'red to pay such utilities costs to clear title, Seller shall promptly repay
P~in CQunty Title, Inc., upon receipt Qf/ev~ence~f pq%ymen~ of_t~ose ~tilities.
AUTHORIZATION TO CLOSE
TO:
PITKIN COUNTy TITLE, INC.
601 E. HOPKINS
ASPEN, CO. 81611
IX] AS PURCF~%SER OF THE PROPERTY REFERENCED UNDER YOUR FILE NO. PCT11247 WE HEREWITH
DELIVER TO YOU THE FOLLOWING DOUCMENTS:
IX] STATEMENT OF SETTLEMENT - FIVE COPIES
IX] TAX AGREEMENT LETTER - FIVE COPIES
[ ] REAL PROPERTY TRANSFER DECLARATION
[ ] LOA~ DOCUMENTS
IX] CERTIFIED OR WIRED FUNDS IN THE AMOUNT NECESSARY TO CLOSE
[ ]MECHA/~IC LIEN AFFIDAVIT
[]
[ ]
[]
WE THE PURCHASER(S) HEREBY AUTHORIZE YOU TO USE THE FUNDS DELIVERED TO YOU PURSUANT TO THE
ENCLOSED SETTLEMENT STATEMENT UPON RECEIPT OF A GU(X) AND SUFFICIENT DEED TO US FROH THE
SELLER.
SELLER AND PURCHASER HEREBY AGREE AND ACKNOWLEDGE THAT SOHE OF THE FIGURES AS SET FORTH ON
THE SETTLEMENT STATEMENTS HEREIN DELIVERED AND APPROVED BY THE SELLER AND PtIRCHASER WERE
OBTAINED FROH THIRD PARTIES, AND PITKIN COUNTY TITLE, INC., SHALL NOT BE HELD LIABLE OR
ACCOUNTABLE FOR ANY FIGURES OBTAINED Tlfl~T MAY HAVE BEEN IN ERROR OR OBTAINED WITH
MIS-INFORMATION AS PROVIDED BY SUCH THIRD PARTIES. SELLER AND PURCHASER HEREBY AGREE TO
HOLD PITKIN COUNTY TITLE, INC., HARMLESS FROM ANY LOSS OR DAMAGE RESULTING FRUM SUCH
INACCUPJ~CIES. IN THE EVENT ANY GUHS ARE DECLARED DUE AND PAYABLE BY ANY THIRD PARTY
RELAYING TO PIT~(IN COUNTY TITLE, INC., INACCURATE INFORMATION THE PARTY RESPONSIBLE FOR
SUCH AHOUNT(S) DUE AGREE TO PAY PRORPTLY SUCH SUMS OR AMOUNTS AS ARE CURRENTLY DUE AND
PAYABLE. IN THE EVENT THAT A LIEN IS FILED FOR NONPAYMENT OF ANY SUCH AHOUNTS AND PITI(IN
COUNTY TITLE, INC., IS REQUIRED TO PAY ANY AHOUNTS IN ORDER TO PROTECT ITS INSURED,
PURCHASER AND SELLER HEREBY INDEMNIFY PITKIN COUNTY TITLE, INC., FROH ANY LOSS, DAHAGE,
SUIT OR LEGAL ACTION THAT HAY HE TAI(EN 8Y ANY THIRD PARTIES AND PITKIN COUNTY TITLE, INC.,
NAy FILE ANY LEGAL ACTION NECESSARY TO ENFORCE THIS INDEMNITY AND WILL BE ENTITLED TO ANY
LE '}FEES, COSTS OR EXPENSES IN CONNECTION WITH SUCH LEGAL ACTION.
AUTHORIZATION TO CLOSE
TO: PITKIN COUNTY TITLE, INC.
601 E. HOPKINS
ASPEN, CO. 81611
[X] AS SELLER OF THE PROPERTY REFERENCED UNDER YOUR FILE NO. PCTl1247 WE HEREWITH
DELIVER TO YOU THE FOLLOWING DOUCMENTS:
[X] STATEMENT OF SETTLEMENT - FIVE COPIES
[X] TAX AGREEMENT LETTER - FIVE COPIES
[X] CERTIFICATE OF NONFOREIGN STATUS
[ ] REAL PROPERTY TRANSFER DECLARATION
[X] WARPJkNTY DEED CONVEYING SUBJECT PROPERTY TO BUYERS
[ ] BILL OF SALE
[ ] MECHANIC LIEN AFFIDAVIT
[X] NET PROCEEDS LETTER
[]
[]
AS THE SELLER(S) YOU ARE HEREBY DIRECTED TO DELIVER THE ENCLOSED DEED TO THE P~JRCHASER UPON RECEIPT
OF GOOU FUNDS FROM THE PUROHASER IN THE AMOUNT NECESSARY TO PAY ALL LIENS, ENOUMBRANCES AND
NET PROCEEDS TO US AS SET FORTH ON THE SETTLEMENT STATEMENT ENCLOSED HEREIN AND PURSUANT TO
THE NET PROCEEDS LETTER.
SELLER AND PURCHASER HEREBY AGREE AND ACKNOULEDGE THAT SOME OF THE FIGURES AS SET FORTH ON
THE SETTLEMENT STATEMENTS HEREIN DELIVERED AND APPROVED BY THE SELLER AND PURCHASER WERE
OBTAINED FROM THIRD PARTIES, AND PIT[IN COUNTY TITLE, INC., SHALL NOT BE HELD LIABLE OR
ACCOUNTABLE FOR ANY FIGURES OBTAINED THAT HAY HAVE BEEN IN ERROR OR OBTAINED WITH
MIS-INFORHATION AS PROVIDED BY SUCH THIRD PARTIES. SELLER AND PURCHASER HERESY AGREE TO
HOLD PITKIN COUNTY TITLE, INC., HARMLESS FROM ANY LOSS OR DAHAGE RESULTING FROM SUCH
INACCURACIES. IN THE EVENT ANY SUNS ARE DECLARED DUE AND PAYABLE BY ANY THIRD PARTY
RELAYING TO PITKIN COUNTY TITLE, INC., INACCURATE INFORHATIOE THE PARTY RESPONSIBLE FOR
SUCH AHOUNT(S) DUE AGREE TO PAY PROMPTLY SUCR SUMS OR AHOUNTS AS ARE CURRENTLY DUE AND
PAYABLE. IN THE EVENT THAT A LIEN IS FILED FOE NONPAYMENT OF ANY SUCH AHOUNTS AND PITKIN
COUNTY TITLE, INC., IS REQUIRED TO PAY ANY AHOUNTS IN ORDER TO PROTECT ITS INSURED,
PURCHASER AND SELLER HEREBY INDEMNIFY PITKIN COUNTY TITLE, INC., FROM ANY LOSS, DAMAGE,
SUIT OR LEGAL ACTIOE THAT HAY BE TAKEN BY ANY THIRD PARTIES AND PIT'IN COUNTY TITLE, INC.,
HAY FILE ANY LEGAL ACTION NECESSARY TO ENFORCE THIS INDEMNITY AND WILL BE ENTITLED TO ANY