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HomeMy WebLinkAboutcoa.lu.pu.Aspen Mountain 515 S Galena.59A-89L I jo . � 1 1 DATE RECEIVED: �o DATE COMPLETE: CASELOAD SUMMARY SHEET City of Aspen PARCEL ID AND CASE NO. 59A -89 STAFF MEMBER: lisui- PROJECT NAME: Aspen Mountain Subdivision PUD Insubstantial Amendment Project Address: Grand Aspen Hotel 515 S. Galena, Aspen, CO Legal Address: APPLICANT: Savanah Limited Partnership c/o Hadid Aspen Holdings Applicant Address: 600 East Cooper Street, Suite 200, Aspen REPRESENTATIVE: Bob Darden Representative Address /Phone: P. O. Box 8253 Aspen, CO 81612 927 -4583 PAID: YES NO AMOUNT: $50.00 NO. OF COPIES RECEIVED: 1 TYPE OF APPLICATION: 1 STEP: 2 STEP: P &Z Meeting Date PUBLIC HEARING: YES NO VESTED RIGHTS: YES NO CC Meeting Date PUBLIC HEARING: YES NO VESTED RIGHTS:` YES NO Planning Director Approval: Paid: Insubstantial Amendment or Exemption: _ Date: REFERRALS: City Attorney Mtn. Bell School District City Engineer Parks Dept. Rocky Mtn Nat Gas Housing Dir. Holy Cross State Hwy Dept(GW) Aspen Water Fire Marshall State Hwy Dept(GJ) City Electric Building Inspector Envir. Hlth. Roaring Fork Other Aspen Consol. Energy Center S.D. DATE REFERRED: INITIALS: / FINAL ROUTING:- DATE ROUTED: `7 a-7 �e9 INITIAL: City Atty City Engineer �( Zoning Env. Health Housing Other: FILE STATUS AND LOCATION: :il� HES &KNF2L ICH PC d,',w, Aspen Plus Building 333 Eut Hopkins tisTen. Colorado 81611 #337500 /91 14:46 Rec $1 5. < -)c? 659 t'G 188 S4 1via Davis, Fi E1f C it_ y C.lGY'E:y ripe DEDICATION TO REAL PROPERTY TO EMPLOYEE HOUSING RESTRICTIONS AND GUIDELINES (,, �'�' ' o i l/c (Rooms Within Grand Aspen Hotel) THIS DEDICATION, is made and entered into as of the 3rd day of October, 1988, by Savanah Limited Partnership, a District of Columbia limited partnership ( "Owner "), with reference to the following: WITNESSETH: WHEREAS, Owner is the record owner of the following described real property situated in the City of Aspen, Pitkin County, Colorado, to wit: Rooms 184, 196, 197 and 198 within the Grand Aspen Hotel (the "Units ") situate on Lots M, N, O, P, Q, R and S, Block 91, City and Townsite of Aspen, and Lots 1, 2 and 3, Block 1, Anthony Acres Subdivision (the foregoing described property also comprising a part of Lot 5 of the First Amended Plat of 'the Aspen Mountain Subdivision and Planned Unit Development as shown on the Plat thereof recorded in Book 21 at Page 35 of the Pitkin County, Colorado real property records) WHEREAS, pursuant to the provisions of that certain First Amended and Restated Planned Unit Development/Subdivision Agreement -- Aspen Mountain Subdivision recorded in Book 574 at Pages 792, et seq. ( "Amended PUD Agreement ") of the Pitkin County, Colorado real property records, Owner is required at this time to dedicate the Units to specific employee housing restrictions and guidelines; and WHEREAS, Owner desires by this instrument to effect such dedication upon and with respect to the Units. NOW, THEREFORE, for and in consideration of the execution and recording by the City of Aspen, Colorado, of the Amended PUD Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Owner hereby declares, covenants and agrees that: • #7-z ; 505 1 O / 1 / 91 14:46 'Re c* Silvia Davis, F'itkin, Cnty J $15. 00 D k:: 6590 189 C1Pr4::, Dor. :��-� 1. Each of the Units shall be and hereby is restricted exclusively in terms of use and occupancy to moderate income employee housing use, occupancy and rental guidelines and qualifications that may, from time to time, be in effect, duly adopted, and regularly- and uniformly applied by the City or its duly constituted employee housing designee ( "Housing Authority "). 2. Verification of employment and income levels for the individuals who occupy the Units shall be completed and filed with the City, prior to and as a condition of each employee's occupancy of a Unit. 3. Employees of Owner or of the owner or operator of the Hotel proposed in the Amended PUD Agreement for the construction on Lot 1 of the Aspen Mountain Subdivision and Planned Unit Development shall be given the first right to occupy the units notwithstanding that their individual income levels may exceed moderate income levels, provided that, in all events, they shall not be charged more than moderate income rent for such occupancy. 4. In all other respects, the Units shall not be occupied by other than Qualified Employees limited to those persons residing and employed in the City of Aspen or the County of Pitkin meeting the Full -Time Employee Equivalent standards of the Housing Authority and moderate income and occupancy eligibility requirements from time to time in effect, duly adopted and regularly and uniformly applied by the City of Aspen or duly constituted employee housing designee. 5. Nothing in this employee housing restriction contained shall preclude or interfere with or be construed as precluding or interfering with the right of Savanah, hereby reserved, to demolish or with the demolition of the Grand Aspen Hotel pursuant to provision therefor made in the Amended PUD Agreement; provided that, at such time as the Grand Aspen Hotel is demolished, Savanah will substitute for the Units other comparable property acceptable to the City for this purpose and similarly burdened as employee housing; and, provided. further that, whether or not the Grand Aspen Hotel is by then demolished, at such time as Savanah or its successor shall construct the employee housing project known as "Ute City Place" then, from the time a certificate of occupancy issues therefor, the Units or any property substituting therefor, as above provided, shall from then and thereafter be relieved from the burden of this Employee Housing Restriction and the Ute City Place project shall stand in substitution thereof. 6. The dedication and covenants contained herein shall be deemed a burden upon and to 2 9@%] *337505&/17/91 14:46 Rec $15. 00 59 PG 190 'Silvia is, Pitt.­.in Crity Clerk, run with the title to the Units and the foregoing described real property, shall be binding upon the Owner and its successors and assigns, and upon all other persons or entities having any right, title or,interest in or to the Units of such property, or any part thereof, and shall inure to the benefit of and be specifically enforceable by the City of Aspen or its duly constituted employee housing designee by any appropriate - legal action, including : 9 injunction, abatement or eviction of non-complying tenancies, all foi a period of fifty years from the date of recording hereof.in the Pitkin County, Colorado real property records, subject to the foregoing described reserved right of demolition. 7. Neither this dedication nor any of the covenants contained herein shall be modified, released or waived in any respect except by written instrument executed by both the Owner of his successors or assigns, and the City of Aspen, Colorado, and duly recorded in the Pitldn County, Colorado real property records. IN WITNESS WHEREOF) Owner has hereunto set its hand and seal as of the day and year first above-written. OWNER: SALVANAH LDHM PARTNERSHIP, a District of Columbia limited partnership its General Partner: STATE O]� ss.. COUNTY OF The foregoing instruniprit w acknowledged bqore I me this '�t� day of 1991, by as its Caen er4 P er, of SAVANAH LUVRTM PARTNERSHIP, a'District of Columbia limited P is WITNIESS my hand and official seal. My commission expires: (SEAL) c. Notary Public OFFICIAL NOTARY SEAL k ANNE C. SAMSTAG Noy P&c — Cafttwnla LOS ANGELES COUNTY W Comm. Expires JUL 07,1JW5 M 3 8t7 91 T6/ZZ/60 Aw .o.o.o. The Ritz- Carlton Aspen Hotel Economic Impact Report HAD1D Aspen Holdings, Inc. March 1, 1988 Mayor William Stirling The Aspen City Council The Aspen Planning & Zoning Commission The Community of Aspen This report is respectfully submitted for your information by Hadid Aspen Holdings, Inc. In considering the impact of the Ritz - Carlton Hotel, the community must be aware of the economic benefits for the citizens of Aspen which will accrue annually once the Hotel is in operation. During the lengthy and eventful approval process for the PUD, the analytical emphasis was on the front -end improvements provided to the community as conditions of approval. The approach has been, "What will be the immediate benefits to the Town and to the lodge district infrastructure if we grant approval ?" This report answers the question, "What community improvements will Aspen be able to fund due to the increased tax revenues generated by the Ritz- Carlton over the next ten years ?" This report is designed to assist the City, the Planning and Zoning Commission and the Council to plan future capital improvement programs for the community as a result of having a Ritz - Carlton Hotel at the base of the mountain. Sincerely, LJ y Perry Harvey, Dire for Hadid Aspen Holdings, Inc. 600 East Cooper Street Suite 200 Aspen Colorado 81611 (303) 925 -4272 Fax: (303) 925 -4387 • TABLE OF CONTENTS Introductory Statement Executive Summary Lodge District Improvements Table I, Physical Improvements Tax Revenue Analysis Table II, Tax Projections Aspen Budget and Ritz- Carlton Impact Table'III, Revenue Effects Capital Improvements Program Table IV, Capital Improvements Conclusions PAGE 3 4 5 7 8 9 11 12 14 15 INTRODUCTION Aspen has reached a crossroad and has a far - reaching opportunity to control the future. While Aspen is recognized world wide as the premier ski resort with the finest community, the master planning studies and Goals Task Force Report in 1971 and 1983 have addressed the community's economic dependence on skiing, the economic imbalance between winter and summer and the need to create business in the shoulder seasons. The 1983 Goals Task Force Report states that 60% to 80% of the cash in -flow to the Aspen economy comes during the four winter months while the remaining eight months generate only 20% to CIO %. The primary economic goal of the 1983 report is to develop the June to October time period to generate 50% of annual income by 1995. The report goes on to say that winter will no longer subsidize the summer, and winter may, therefore, be more price competitive. An economic balance allowing for more competitive. winter pricing and increased summer business is certainly a top priority of this community. Conference and meeting business is specifically mentioned as a summer activity generator in keeping with Aspen's plan for a more balanced economy. Since 1983, this theme has been restated by the community. Aspen, rather than concentrate on expanding resort capacity, should strive to better utilize the existing capacity during "shoulder seasons ". Not only has the community correctly identified the problem of relying too much on the winter to subsidize the entire economy, but the problem each year is becoming more acute. During the last several years Aspen has lost ground in terms of Colorado skier market share. To date, in the 1987 -1988 ski season, the Aspen Skiing Company is down 6.6% in skier days from the previous year. Over the last few years we have, as a community, advanced the cause of arts as an industry to help enhance our economy. Unfortunately, to support the arts through City revenues we need added tax revenue. In drawing from the 1983 report, to continue economic growth in our community several options are available; we can continue to raise prices; we can add capacity to make more during the periods of high demand; or, we can consciously create the mechanisms to utilize our capacity during the shoulder seasons, and thereby reduce our dependence on skiing. The Ritz - Carlton Conference Hotel will help achieve Aspen's stated economic goals: The conference facilities, combined with the quality lodging, will provide the needed physical plant for the shoulder seasons; 1 The Ritz - Carlton will bring high - quality meeting groups to Aspen during the periods from Thanksgiving to mid - December, January, April 1 to April 15th, June, September and October; - The meeting facilities will be able to accommodate groups larger than the lodging capacity, creating business for other hotels and lodges, as well as the entire business community; The Ritz- Carlton will provide facilities for winter programs for the Institute and other Aspen cultural events. Currently Aspen relies on marketing by the ARA and the Skiing Company. The ARA has a budget of $435,000 to market Aspen's summer and winter seasons. While the Ski Company spends an estimated $1.2 million annually, it is all allocated to winter promotion. The Ritz - Carlton Hotel Company spends upward of $10 million annually in marketing. In addition, the Ritz - Carlton Aspen projects over $1.5 million for the sales and marketing budget in the first year of operation and over $2 million in the fifth year. This is private marketing that will, maintain and enhance Aspen's reputation as a year round center of cultural and intellectual activities and seminars. Locating a Ritz - Carlton Hotel on Lot 1 of the Aspen Mountain PUD will benefit the immediate lodge district. This is the only parcel in Aspen which is zoned for and will accommodate a meaningful facility for meetings with lodging attached. Further, this is the area of Aspen most in need of infrastructure and road upgrading, a benefit of the Ritz- Carlton construction. Finally, this is the only location in town which adequately ensures that the majority of guests will not use their cars but will walk into town or use a form of public transportation. ;p There has been concern in the community that circumstances have changed since the PUD was originally submitted. . Certainly our lodge inventory has been upgraded and ~new lodge units have been added at the Jerome, The Sardy House and the Crestahaus. Since 1983 there has been a net decline of 11 units (see page 16 of the Ritz amended PUD submission). However, the increase or decrease in lodging capacity is not really the issue. The issue is that Aspen depends on the four months of winter to support the annual economy. While this continues, Aspen's share of the ski market in Colorado is declining and the ski industry is leveling off. The successful creation of a conference hotel will do more that any other single action to stabilize our economic future, preserve the quality of our lives and enhance the cultural, i intellectual and artistic aspects of our community. 1 EXECUTIVE SUMMARY The Aspen community has an identified need to increase shoulder season utilization of the resort capacity. the Ritz - Carlton will accomplish this goal with conference business. The Ritz - Carlton will spend $10 million in annual corporate marketing and $1.5 - $2.0 million at the Aspen hotel to market shoulder seasons. The Ritz - Carlton has provided over $4 million in direct improvements to the Lodge District. Some $3 million more will be installed during construction. During the final ten years of the 20th century the Ritz - Carlton will contribute an estimated $24 million in tax revenue with almost $12 million flowing directly into the City of Aspen. The City General Fund will realize a 13% increase in tax revenue in 1990, the first year the Ritz is open. The ten year total will be $5 million. The Land Fund revenues from 6th penny sales tax will .increase by 22% in 1990. In ten years over $6 million will be available for purchase and upgrade of open space. RFTA will receive $5 million over ten years with the City Mall and Transportation Fund receiving $714,000. The City of Aspen will receive benefits from the Ritz Carlton that will strengthen the economy and provide for the capital improvements needed and wanted by the community. 3 LODGE DISTRICT IMPROVEMENTS ACCORDING TO THE ASPEN MOUNTAIN PLANNED UNIT DEVELOPMENT As an integral part of the approval process the Aspen Mountain PUD promises to perform many improvements to the lodge area utility system, to the roads and streetscapes and to governmental programs such as transit studies and employee housing. These improvements fall into two main categories with a third one of miscellaneous programs. Table I has broken these out and it shows the following; To date $4,703,434 has been spent on physical improvements and studies in reliance on the approval for a conference hotel. During construction another $3 million will be spent on physical improvements and a new home for the Aspen Ski Club. These expenditures will dramatically upgrade the six block area from Durant to the Mountain base and from Galena to Monarch. Construction will also mean estimated tap fees of $575,000 for the Water Department and $114,000 to the Sanitation Department. n 0 0 TABLE I PHYSICAL IMPROVEMENTS AMOUNT TO BE % COMPLETE SPENT SPENT I. Utility Improvements and Undergrounding A. Electrical 1. City Lines Undergrounded 90% 2. Holy Cross Lines Undergrounded 1000% 3. Temporary Relocation 100% B. Telephone 1. Cable Underground /Relocation 90% 2. Temporary Relocation 100% C. Cable 1. Cable Underground /Relocation 90% 2. Temporary Relocation 100% D. Natural Gas 1. Relocated & New Gas Lines 100% E. Sanitary Sewer 1. Sewer Main Rerouting, Lot 1 100% 2. Sewer Along Durant 0% F. Water Lines 1. Main Line Disconnects, Lot 1 100% 2. 12" Main Galena to Mill 0% G. Storm Sewer 1. 18" Galena /36" Durant 0% H. Drainage Study Aspen Mountain 0% and work Sub Total 5 $200,000 -0 -* $345,000 -0- $17,900 -0- $68,966 -0 -* $13,068 -0- $15,000 -0 -* $51000 -0- $12,000 -0- $28,500 -0- -0- $65,000 $14,200 -0- -0- $120,000 -0- $205,000 -0- $250,000 $719,634 $640,000 I • II. Roads, Parking and Landscaping A. Galena Realignment 0% B. Landscaping 0% C. Park on block in front of Grand Aspen 0% D. Parking lot west of Grand Aspen 55% Sub Total III. Other Programs A. Demolition of Aspen Inn 100% B. Tree Relocation 100% C. Grand Aspen Renovation (1985) 100% D. Grand Aspen Renovation (1987) '.00% E. Employee Housing Commitments • -0- $315,000 -0- $1,700,000 -0- $150,000 $60,000 $50,000 $60,000 $2,215,000 $200,000 $8,800 $750,000 $1,500,000 -0- -0- -0- -0- The costs in the to be spent column are still estimates. to change through negotiation with the City. 2 They are subject 1. Alpina Haus (Purchase and Upgrade) $750,000 -0- 2. Copper Horse (Purchase and Upgrade) $500,000 -0- 3. Hunter Longhouse (Sub- equity Invest.) $250,000 -0- F. Park Dedication Fee 0% -0- $25,000 G. Rubey Park Study 100% $25,000 -0- H. Aspen Ski Club 0% -0- -- - - - - -- -------- $167,000 --- - - - - -- --- - - - - -- Sub Total $3,983,800 $192,000 GRAND TOTALS $4,703,434 $3;047,000 * Paid 100% in advance. Completion pending due to construction time. The costs in the to be spent column are still estimates. to change through negotiation with the City. 2 They are subject TAX REVENUE ANALYSIS ' To provide an analysis of the sales tax and real and personal property taxes generated by the Ritz - Carlton certain assumptions have been made. Property taxes are based upon meetings with the County Assessor's Office and are broken down to the various agencies. The estimates of gross revenue upon which sales taxes are based are from Ritz - Carlton's internal projections for the Aspen hotel combined with their nationally accepted industry multipliers to calculate the dollars guests will spend in the community for meals, shopping and activities. This analysis considers only the direct benefits of guest expenditures. Undeniably there will be further sales tax generation from employee spending and secondary and tertiary 'effects as these dollars circulate through the economy. These effects are more difficult to project so we have chosen to use only those dollars which can be most accurately measured. The sales tax of 7.2% is divided between Pitkin County and the City with several specific allocations. The State of Colorado Tourism Board receives .2 %. The State receives 3% of the total directly. *Two percent is currently divided 57% to Pitkin County and 43% to the City of Aspen. The City receives 1% for the Land Fund. Finally, 1% is divided $7.9% directly to RFTA and 12.1 % to the City. Table II includes a ten -year projection of sales tax revenue as it is allocated according to the above formula. Added benefits to the community not in table II come from the pillow tax for the A_RA of $10,335 annually and the real estate transfer tax from the hotel residential units for the Wheeler. 7 • Q O M N M O m M •O T K N tO Ili O N �O •--, � � O ti . w N •n •O •A �n m T I O K r .-• M N O N P LLl •D N N N .-• .�-i O O N N •O K r = N N V •Il M1 ti .-• O� N N Wq w N •O w � H N N H COI •p O• O W M K O� O� m .Mi 01 O+ O• O m O• O O K m �O M M �p r r K •O � O •+l M T •-+ O O O N m O H •--� m �O r •O H w w p w N � N H q K N •(1 �O m N K m O� •O K •O Oi m m ut N � N L() to M1 •-• O .+ r H O r �O to w w H H N K N tp I •D K r• 0 0 0 O• N O+ � m D• N K M O� M r m D• O� O T N M1 ' 1p m .-• �fl M �O M1 n p q w N w �l1 N N tp �O r•. 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O• K N N •-• H N p H H H K N H N N H H O, K M O^ O• lO r ti m �n tfi m l •O DD � O 'O M •O K O� M1 •O ti O m •O K O O+ m O M N K O N p N m O m r• M1 �O �� O N W O m O K m N n N N O O .0-• M � K MH T 00 O N� K M N N M ¢ M z � O � N K r K K ti K � W •!1 O K .Ny U O A � N .•• CU w-• 2 Y l°� o C, e, m M N K Y T � T Ol C Y •O 'r .- L 4 F- K O. O •O 6 H O N ••'• H O T U • O U a J C � M � �-• 'r A d-• C W y Ue L r Y r O C O O O. O T d d •^ O O' W O E u 7 d r 1 L U U U LL S N Q N U J m Q E H U � OD • • ASPEN'S BUDGET AND RITZ - CARLTON IMPACT The City and community of Aspen support a large infrastructure of services relative to it's permanent population. The community wants underground utilities, efficient streets and public transportation systems, a comprehensive and well maintained network of pedestrian trails for summer and winter use, open space parks for residents and visitors alike and a romantic and clean environment, all of which are costly. Maintenance and acquisition of these elements are funded primarily by sales tax revenue and to a lesser extent by real estate taxes and other revenue raising avenues. In 1986 Aspen's City Council adopted the City's first comprehensive five year budget plan. Each annual operating budget adheres to this plan. In addition, Council approved a Five -Year Capital Improvement Plan. In this analysis of the increased revenue to the City from the Ritz- Carlton Hotel we will look first at the effect on the annual operating budgets in the separate categories that can be most easily predicted. These are the General Fund, Land Fund and Transportation and Mall Fund. While the Water, Electric, Golf and Ice Garden Funds will benefit greatly from increased City revenues, allocation between these funds will be properly determined by City Council. In analyzing the effect of the Ritz - Carlton on the revenue of the City we use 1990 budget projections by the City and revenue projections from the Ritz - Carlton. 1990 is presumed to be the first year of full operation for the Ritz - Carlton. Aspen's General Fund is established to account for the revenues and expenditures necessary to carry out the basic governmental services of the City. The major revenue source is the City's share of a 2% Pitkin County sales tax, which share is projected to be $2,809,000 for 1990. Added revenues bring the City's 1990 total to $5,022,000. After operational expenses, transfers from the fund total $503,000 or exactly 10% of total revenues for streets and housing debt and the Golf, Ice Garden and Wheeler Funds. In 1990, the Ritz - Carlton guests will account for $363,000 in direct added sales tax revenue to the City's General Fund, a 13% increase. The ten year total for this fund will reach $5 million. The Land Fund has as its primary revenue source the sixth penny sales tax. Uses are restricted to the acquisition of open space through direct purchase or repayment of bonding, capital improvements and maintenance of these assets. 1990 projections show the sixth penny revenue at $1,928,000, park dedication fees at $35;000 and other revenues at $114,000, for a total, exclusive of Red Roof sale proceeds, of $2,077,000. Direct expenditures will.be $816,000 and debt payments total $1,446,000. Ritz - Carlton guests are projected to provide a 22% increase I ($422,000) in 1990 Land Fund revenues exclusive of any park dedication fees. Over a ten year period a total of $6 million will be generated for Aspen's Land Fund. 9 1 The third direct beneficiary of the Ritz - Carlton guest expenditures is the Transportation /Mall Fund. This fund shows 1987 revenues of $440,700 from sales taxes. The Ritz- Carlton will, in 1990, generate an additional $51,000, or 11.6% with a ten year total of $715,000 for purchase of transportation ' equipment, debt retirement, mall acquisitions, improvements and operations. 10 0 • TABLE #III TOTAL FINANCIAL EFFECTS OF RITZ - CARLTON OVER 10 YEARS 1989 — 1999 I. Construction- related improvements Lodge district improvements $8,000,000 Tap fees - water $575,000 Sanitation $114,000 Sub Total $8,689,000 II. 10 -year tax revenue summary ARA pillow tax $103,350 Real and personal, property tax $1,298,494 Sales Tax: A. City of Aspen (General Fund) $5,058,479 B. Open space (6th penny) $5,905,209 C. RFTA $5,190,680 D. City mall /transportation $714,530 Sub Total $18,270,742 TOTAL $26,959,742 11 ' CAPITAL IMPROVEMENT PROGRAM On December 151 1986, the City Council approved a Five -Year Capital Improvement Plan. The renovation of City Hall and the formytion of the Lodge Area Special Improvement District were identified as projects to be accomplished. The renovation was to ' be funded with no increase in taxes. The lodge district and a downtown improvement district would be funded through increased mill levies and special assessments. Currently the lodge district has been rejected by the voters but may be revived in the future. The capital improvement projects considered by Council are listed on a table IV with cost estimates. Because Aspen has a high self -image and many improvements to the quality of residents additional capital improvements the fore. These include: Purchase of Zoline Property Solution of Snowdump More Efficient Snow Removal and Sanding Koch Lumber Park Improvements Rio Grande and Greenway desire to implement so life of the deserving have recently come to $1,400,000 $200,000 $100,000 In actuality for 1987, $250,000 was allocated for capital improvements with $75,000 for trails, $50,000 for the ice garden and a parking study and $125,000 for snow removal. Given the scope of the wish list this allocation will not keep up with annual demand. In the final ten years o,f the twentieth century, Aspen's Ritz- Carlton will contribute an estimated $24 million in tax revenue to Pit -kin County, with almost $12 million flowing directly to the City of Aspen. $5 million will be added to the General Fund, available for transfer to other funds or for capital improvements. $5.9 million will be available for purchase of open space, the trails program and park improvements, $3.8 million more than the current five -year plan projects for these areas of capital improvement. ' - During this same period, $71.5,000 will be available for the transit and mall fund over and above the $5 million which will flow directly to RFTA. In the General Fund alone the Ritz related revenue could provide for the City Hall renovation, Moore pool improvements, Ice Garden improvements, golf course improvements and expansion and Wheeler ' improvements with enough left to provide for a solution to the snow dump and institution of a more efficient plan for street 12 sanding and cleaning and to provide some $50,000 annually in added funds for art and non - profit organization funding. The Land Fund revenue could purchase the Zoline Property and provide for trails and park improvements and would still provide ' $3.2 million for the Red Roof or Marolt property or for future open space acquisitions. 13 Projects Considered City Hall 0 TABLE #IV • CAPITAL IMPROVEMENT PROGRAM (taken from 1987 Aspen Budget) Total 1987 1988 1989 1990 1991 Project Renovation 1,600,000 0 0 0 0 1,600,000 Street Dept. Building 300,000 2,500,000 0 0 0 2,800,000 Moore Pool Improvements 500,000 0 0 0 0 500,000 Ice Garden Improvements 300,000 200,000 0 0 0 500,000 Parking Structure 400,000 3,600,000 0 0 0 4,000,000 Trails Program 100,000 100,000 150,000 100,000 100,000 550,000 Open Space Acquisition 200,000 150,000 150,000 150,000 150,000 800,000 Parks Improvements 150,000 150,000 150,000 150,000 150,000 750,000 Wheeler Improvements 91,300 140,000 45,000 30,000 .30,000 336,000 Parks /Golf Mnt Facility 385,000 0 0 0 0 385,000. Lodge Area SID 800,000 0 0 0 0 800,000 Street Serial Levy 130,000 130,000 130,000 130,000 130,000 650,000 Maroon Hydropower 541,000 20,000 0 0 0 561,000 Water Mgmt. Projects 1,026,700 1,333,350 0 0 0 2,360,000 Golf Course Improvements 80,000 75,000 125,000 45,000 45,000 370,000 6,604,000 8,398,350 740,000 605,000 605,000 16,962,360 PROJECTS, AS SHOWN ABOVE, WITH IDENTIFIED FUNDING SOURCES Project Description Parking Structure Street Serial Levy Parks /Golf Maintenance Facility Water Management Projects Golf Course Improvements Funding Source Downtown Development Authority Property Tax Partial funding from Golf Course revenues, up to half Improvement Districts Golf Course Revenues TOTAL PROJECTS WITH IDENTIFIED FUNDING SOURCES 14 'r-4- -1 P - - 4- $4,000,000 650,000 192,500 2,360,000 370,000 $7,572,550 • CONCLUSION • This report has shown some of the economic benefits the Ritz - Carlton will have for the Aspen community. 1. An immediate upgrade to the street system and utility infrastructure of the area adjacent to the Ritz - Carlton. 2. Creation of assembly space for local events and groups in the Aspen community. 3. A facility which will attract visitors in the shoulder seasons which will relieve our dependency on the four winter months to support the entire year. 4. Immediate and long term increases in revenue for the County and City which will allow realization of capital improvement projects and support of worthy community groups. The completion of the Ritz - Carlton Hotel at the base of Aspen Mountain will provide an economic legacy for the future generations of Aspen enabling Aspen to maintain and improve upon the natural beauty and lifestyle of the Roaring Fork Valley. 15 LIST OF SOURCES The Ritz - Carlton Hotel Company Aspen Budget 1987 Aspen /Pitkin County Growth Management Policy Plan, 1976 Aspen Area General Plan, 1966 Goals Task Force Report, 1983 Colorado Ski Country, USA Aubrey Architects City of Aspen Water Department Aspen Metropolitan Sanitation District Pitkin County Assessor's Office Pitkin County Building Department City of Aspen Finance Department American Express Denver Convention and Visitors Bureau Colorado Tourism Board July 13, 1987 Goals Session Memorandum MEMORANDUM TO: Bill Drueding, Zoning Officer FROM: Leslie Lamont, Planner RE: Aspen Mountain Subdivision PUD Insubstantial Amendment DATE: June 14, 1989 SUMMARY: The applicant proposes to build an approximately 250 square foot patio bar, with an awning, on an existing patio of the Grand Aspen Hotel. The design of the bar will enable it to be closed and secured. Because the Grand Aspen Hotel is part of the Aspen Mountain Subdivision this additional bar area must receive an insubstantial amendment to a PUD. Pursuant to Section 7 -907 the Planning Director may amended the PUD if the proposed change is consistent with the approved PUD plan. FINDINGS: 1. The existing lot size, as portrayed in Book 21 page 37 of the First Amended Plat Aspen Mountain Subdivision and Planned Unit Development, is 113,685 square feet. According to Parry Harvey, a representative of the applicant, the building size is approximately 56,000 square feet. The proposed PUD plan is to subdivide the parcel thus reducing the size to approximately 86,605 square feet. The allowable FAR, in a LTR district is 1:1. With the proposed bar addition, the building does not exceed the allowable FAR currently or with the proposed subdivision. 2. Upon review of the recorded PUD plat and subdivision agreement I have determined that there is nothing on the plat or within the agreement that precludes an addition of this nature. 3. As this addition is an amendment to the plat it should be recorded on the amended plat. RECOMMENDATION: It is recommended that the Interim Planning Director approve the addition of a 250 square foot patio bar, with awning, with the proviso that this change to the plat shall be added to the First Amended Plat Aspen Mountain Subdivision and Planned Unit Development, Book 21 Page 38 that is being recorded with the City of Aspen. I hereby approve the above insubstantial amendment to a PUD pursuant to Section 7 -907 B. of the Asp,�n Lana/ Usy. Code. Tom Baker, Interim Planning Director CITY OF ASPEN MEMO FROM ALAN RICHMAN, AICP Planning and Development Director L 1� 13, (a867 _hh oho �� .,,,¢.`tee.. � .�.:._, �0••. 6� � •�'Z.. C. �-�- -� . ATTACHMENT 3 Specific Submission Contents: Insubstantial Amendment or Exemption Approval By Planning.Director The request for Planning Director approval of an insubstantial amendment or exemption shall contain the following items: 1. A written description of the existing conditions on the property which are requested to be altered via the amendment or exemption. 2. Such site plan drawings or elevations as may be necessary to adequately evaluate the proposed amendment or exemtion. 3. A listing of all previous development approvals granted to the property, with the approximate dates of said approvals. 4. A copy of any recorded document which affects the proposed development, including but not limited to recorded plats, agreements and deed restrictions. If changes are proposed to said recorded documents, these should be "red- lined" onto a copy of the original document. -2 1� I LOS- a;.,�.i,.a,cki'�.�.,�„�a Q I/�y /r�{/•'�.r. 'yRI. [AI .fI �{ I A�- �u av� 0 ' eaa,;� a GrC�,i � 'J r r i� ATTACHMENT 3 Specific Submission Contents: Insubstantial Amendment or Exemption Approval By Planning.Director The request for Planning Director approval of an insubstantial amendment or exemption shall contain the following items: 1. A written description of the existing conditions on the property which are requested to be altered via the amendment or exemption. 2. Such site plan drawings or elevations as may be necessary to adequately evaluate the proposed amendment or exemtion. 3. A listing of all previous development approvals granted to the property, with the approximate dates of said approvals. 4. A copy of any recorded document which affects the proposed development, including but not limited to recorded plats, agreements and deed restrictions. If changes are proposed to said recorded documents, these should be "red- lined" onto a copy of the original document. -2 1� I LOS- a;.,�.i,.a,cki'�.�.,�„�a Q I/�y /r�{/•'�.r. 'yRI. [AI .fI �{ I A�- �u av� 0 ' eaa,;� a GrC�,i � CITY OF ASPEN PRE-APPLICATION CONFERENCE SU N PROJECT: Ma::!) j PJ ds, Qy n4Q-r- Iaa,r' APPLICANT'S REPRESENTATIVE:q�) A Ql�\ 1�a{'AQ/�1 REPRESENTATIVE'S PHONE: 0 J OWNER' S NAME • YYi • c,, j SX� SUMMARY Q 1 1. Type of Application:4 l 2. Describe action /type of development being requested:�� 3. Areas is which Applicant has been requested to respond, types of reports requested: Policy Area/ Referral Agent Comments 4. Review is: (P &Z Only) (CC Only) (P &Z then to CC)a�1%/��, . 5. Public Hearing. (YES) NO 6. Did you tell ap ant to submit list of ADJACEN PROPERTY OWNERS? (YES) NO Disclosure of Ownership: YES) (NO) 7. What fee was applicant requested to submit: 8. Anticipated date of submission: 9. COMMENTS /UNIQUE CONCERNS: i _E �DID Aspen Holdings, Inc. May 31, 1989 City of Aspen 130 South Galena Aspen, CO 81611 To Whom It May Concern: Hadid Aspen Holdings, owner of the Grand Aspen Hotel, has granted permission for Butch Darden to apply for an insubstantial amendment to the hotel PUD. This applies to the constructing of an outside patio bar of approximately 180 square feet only. If you have any questions regarding this situation please do not hesitate to phone-me at 925 -4272. Sincerely, R.J. Gallagher, Jr. Vice President Marketing and Operations JUG 7 "� 600 East Cooper Street Suite 200 Aspen Colorado 81611 (303) 925 -4272 FAX: (303) 925 -4387 • AFFIDAVIT OF ROBERT W. HUGHES I, ROBERT W. HUGHES, being of lawful age and having first been duly sworn, upon my oath depose and state the following: 1. I am a licensed and practicing attorney in the State of Colorado 2. I am legal counsel for Savanah Limited Partnership, a District of Columbia limited partnership, and I am aware and familiar with the real property assets of Savanah Limited Partnership. 3. Savanah Limited Partnership is the owner of the property and business concern known as the Grand Aspen Hotel located at 401 East Dean Street, Aspen, Colorado. Further this Affiant saith riot. ( ;, ert W.'Hug STATE OF COLORADO ) SS COUNTY OF PITKIN ) Subscribed and sworn to before me this 1989, by Robert W.. Hughes. My commission expires:.3��� r: JME1 1'.26 -, A day of June, ASPEN MOUNTAIN SUBDIVISION FIRST AMENDED PLAT SHEET BOOK PAGE A26 68 1 OF 7 21 35 2 36 3 37 4 38 5 39 6 40 7 41 ENTITIES 42 Al 43 A2 44 A3 45 A4 46 A5 47 A6 48 A7 49 A8 50 A9 51 A10 52 All 53 Al2 54 A13 55 A14 56 A15 57 A16 58 A17 59 A18 60 L1 70 L2 71 L3 72 L4 73 U1 78 Ll SUMMIT PLACE A25 21 67 A26 68 A27 69 L7 76 L8 77 GALENA PLACE A19 A20 A21 _A22 A23 A24 L5 L6 21 61 62 63 64 65 66 74 75 r. (6, soon 574 PAGE792 FIRST AMENDED AND RESTATED PLANNED UNIT DEVELOPMENT /SUBDIVISION AGREEMENT ASPEN MOUNTAIN SUBDIVISION o_ MThis agreement, made and entered into this day of_ 1988, by and between the City of Aspen, Colorado, a municipal corporation and home rule City (herein- after referred to as "City "), and Savanah Limited Partnership, a District of Columbia Limited Partnership (hereinafter referred to as "Owner ") W I T N E S S E T H: WHEREAS, Owner is the owner of the real property and improvements thereon situate known as the Aspen Mountain Subdivision and Planned Unit Development (hereinafter either the "PUD" or the "Project ") - a five -lot subdivision and planned unit development more particularly shown and described in the Plat thereof recorded December 2, 1985, in Plat Book 17 at Pages 99, et sea. (hereinafter the "Initial Plat "), of the Pitkin County, Colorado real property records (hereinafter the "Records "); and WHEREAS, the Initial Plat was submitted to the City for approval, execution title, John H. Roberts, initial platting of the the "Initial Project "); hereinafter proposed to presently known and som( and recordation by Owner's predecessor in Jr. ( "Roberts ") in connection with the five lots comprising the PUD (hereinafter the five lots, together with a sixth lot result from the replatting of Lot 5 are times herein described as: - W Co N ul. eb -- cr L0 m. r M �Y' > ;c J C:) �x �= 4 o r. (6, soon 574 PAGE792 FIRST AMENDED AND RESTATED PLANNED UNIT DEVELOPMENT /SUBDIVISION AGREEMENT ASPEN MOUNTAIN SUBDIVISION o_ MThis agreement, made and entered into this day of_ 1988, by and between the City of Aspen, Colorado, a municipal corporation and home rule City (herein- after referred to as "City "), and Savanah Limited Partnership, a District of Columbia Limited Partnership (hereinafter referred to as "Owner ") W I T N E S S E T H: WHEREAS, Owner is the owner of the real property and improvements thereon situate known as the Aspen Mountain Subdivision and Planned Unit Development (hereinafter either the "PUD" or the "Project ") - a five -lot subdivision and planned unit development more particularly shown and described in the Plat thereof recorded December 2, 1985, in Plat Book 17 at Pages 99, et sea. (hereinafter the "Initial Plat "), of the Pitkin County, Colorado real property records (hereinafter the "Records "); and WHEREAS, the Initial Plat was submitted to the City for approval, execution title, John H. Roberts, initial platting of the the "Initial Project "); hereinafter proposed to presently known and som( and recordation by Owner's predecessor in Jr. ( "Roberts ") in connection with the five lots comprising the PUD (hereinafter the five lots, together with a sixth lot result from the replatting of Lot 5 are times herein described as: Ce 4max 574 PA093 (a) Lot 1, sometimes herein.referred to as "Hotel Phase I "; (b) Lot 2, sometimes herein referred to as "Summit Place "; (c) Lot 3, sometimes herein referred to as "Top of Mill "; (d) Lot 4, sometimes herein referred to as "Galena Place"; (e) Lot 5, sometimes herein referred to as "Hotel Phase II", and (f) Lot 6, (Proposed), sometimes herein referred to as "Ice Rink and Park." WHEREAS, in conjunction with the initial platting of the PUD, Roberts entered into that certain Planned Unit Develop- ment/Subdivision Agreement - Aspen Mountain Subdivision dated December 2, 1985, and recorded in Book 500 at Pages 656, et sea., of the Records (hereinafter the "Initial PUD Agreement "); and WHEREAS, pursuant to and in reliance upon the Initial PUD Agreement, Owner, or its predecessor, has already completed several obligations on the Owner's part to have been performed thereunder, many of which obligations have, for purposes of continuity and consistency, been restated and reaffirmed in this First Amended PUD Agreement; and WHEREAS, pursuant to an application dated January 29, 1988 and as later supplemented -on June 3, 1988, the represen- tations therein set forth being incorporated by reference herein, 2 60 (*-,,K 574 PA094 Owner submitted to the City an application to amend the Initial Project; and WHEREAS, the application to amend the Initial Project was submitted before the effective date of'the changes to Chapter 24 of the Aspen Municipal Code ( "Municipal Code ") and reviewed under the provisions of the Municipal Code theretofore existing; therefore, any references hereinbelow to the Municipal Code or to Sections thereof shall be deemed to refer to the Municipal Code and the Sections thereof in effect on May 24, 1988, except to the extent that changes to the Municipal Code or to Sections thereof have been made expressly applicable to the First Amended PUD or to the performance of Owner's obligations hereunder; and WHEREAS, the City and Owner desire by this Agreement (hereinafter the "First Amended PUD Agreement ") to amend the Initial PUD Agreement to reflect certain design modifications to and of the Initial Project, as well as other matters more particularly below set forth; and WHEREAS, Owner has submitted to the City for approval, execution and recordation a plat amending the PUD (hereinafter referred to as the "First Amended Plat "); and WHEREAS, the necessary conceptual, preliminary and final approvals have been received from the City for Lots 1, 2, and 4, as shown on the First Amended Plat, while: (i) Lot 3 as shown thereon requires further geologic study and evaluation before it can receive preliminary and final development consider- ation, and (ii) Lot 5 as shown thereon is still in the review 3 c. � q BOOR 574 PAGE795 process for purposes of obtaining final approval of proposed amendments to the development activity contemplated therefor as set forth in this First Amended PUD Agreement and for the replatting thereof into two separate parcels with the resulting new parcel to accommodate the Ice Rink & Park; and WHEREAS, the City has fully considered the First Amended Plat and, with the exception of the Top of Mill Component and Lot 5 of the PUD, has fully considered changes in community conditions and policies that have occurred since approval of the Initial Plat and execution of the Initial PUD Agreement, and has fully considered the anticipated benefits and burdens to other adjoining or neighboring properties and the Aspen downtown area in general likely to result from the proposed development and improvements of the lands included in the First Amended Plat and contemplated hereby; and WHEREAS, the City is willing to approve, execute and accept the First Amended Plat for recordation upon the agreement of Owner to the matters hereinbelow described, subject to all of the requirements, terms and conditions of the City of Aspen Subdivision and Planned Unit Development Regulations in effect on May 24, 1988, together with such other laws, rules and regula- tions as are or may become applicable, and provided that at such time as the proposed amendment to the development activities contemplated for Lot 5 of the PUD, including the replatting thereof into two separate parcels, receives final PUD amendment approval, and /or at such time as the Top of Mill component receives final PUD approval, this First Amended PUD Agreement 4 (9- BDox 574 P /wF796 shall be further restated and amended to reflect such approvals and to incorporate all conditions and assurances that may and reasonably be required by the City in connection therewith, WHEREAS, the City has imposed conditions and re uirements in connection with its approval, execution and q cce tance of the First Amended Plat for recordation and such a P ublic matters are necessary to protect, promote and enhance the p health, safety and welfare; and WHEREAS, the City intends by its execution of this Amended PUD Agreement to require Owner to perform or comm First it its obligations he to perform reunder within the time frame s soon hereafter as is contemplated herein and, otherwise, a practical; and c and WHEREAS, under the authority of Section 20 -16( ) 24 -8.1, et se ., of the Aspen Municipal Code, the City is Section reed to entitled to assurances that the matters hereinafter agreed and shall be faithfully performed by Owner and Owner's su assigns; and WHEREAS, Owner is willing to enter into such and agreements with, and provide r such assurances to, the City; WHEREAS, the City and Owner intend that both the First Amended Plat and this First Amended PUD Agreement shall, u on their complete execution and recordation in the Records, P supersede and replace for all intents and purposes the Initial Plat and the Initial PUD Agreement, which shall thenceforth be of no further force and effect. 5 4m 574 PASE 197 NOW, THEREFORE, in consideration of the premises, the mutual covenants herein contained, and the approval, execution and acceptance of the plat for recordation by the City it is agreed as follows: A. PERMITS AND PROJECT CONSTRUCTION SCHEDULES 1. Permits. As soon following the complete execution of this First Amended PUD Agreement as in the circum- stances is practical, but in no event later than October 3, 1988, Owner shall complete its submission for and shall obtain the next sequential building permit for the next phase of construction (i.e., foundation work) for Hotel Phase I. City shall review and advise Owner in respect of its permit submission in the soonest time possible in the attendant circumstances to the end that this deadline and the Project Construction Schedules below set forth might be better adhered to. 2. Project Construction Schedules (a) Hotel Phase I: On April 15, 1988 Owner timely obtained a permit authorizing excavation. The excavation and shoring was completed July 31, 1988. Immediately following recordation of this Agreement and the Plat, Owner shall make application for and receive a permit authorizing foundation work. This shall be obtained on or before October 3, 1988 and founda- tion work will commence immediately thereon. Foundation work shall be completed on or after March 1, 1989, subject to climatological conditions. Upon issuance of the next permit, structural erection above grade shall begin and will take roughly 2 (0- (0- BOOK 574 PAGE 798 three months. Thereafter, and in conjunction with the structural work, the exterior facade erection will begin, followed by interior finish. These two.phases are expected to take approximately eight months. The following are the construction schedules for the remaining components of the Project: (b) Summit Place: Construction on this component shall commence on or after October 1, 1988 with substantial comple- tion to be achieved on or after October of 1989. (c) Top of Mill: Premature. (d) Galena Place: Construction on this component shall commence on or after October 3, 1988, by which time a permit for construction will be obtained, with substantial completion to be achieved on or after May of 1989. (e) Hotel Phase II: This component requires demoli- tion of the Grand Aspen Hotel according to the schedule specified in Paragraph H(3) below. Substantial completion shall be achieved within two years of the beginning of demolition. (f) Lot 6 (Proposed Ice Rink and Park): This com- ponent is required to receive a Certificate of Occupancy and be available for use at the time of issuance of a Certificate of Occupancy for the Hotel Phase I. Thus, demolition and construction shall begin in the spring of 1989 with completion to occur on or before and as a condition to the issuance of a Certificate of Occupancy for Hotel Phase I. At the time of application for a Building Permit for a particular development component of the Project, and as a condition precedent to the issuance thereof, Owner shall provide rA a0oK 574 PAGE799 the City Engineering Department with a detailed Construction Schedule for that component, to the satisfaction of the City Engineer and Chief Building Official in the exercise of their reasonable discretion, keeping in mind that disruptive activities shall be scheduled to minimize impacts on adjacent properties and lodge uses. The Construction Schedule shall particularly address how construction phasing and other techniques within each component will best accommodate under the circumstances (a) barricading and provision of pedestrian protection, (b) main- tenance of adequate public vehicular access and circulation in the development area, (c) excavation access and large truck traffic circulation and staging areas, (d) disposal of demolition and excavation materials, (e) delivery and storage of major construction materials, (f) construction equipment access and storage, (g) contractor vehicle parking, and (h) compliance with City noise regulations. Each of such Construction Schedules shall be verified by the City Engineer and the Chief Building Official and (if the City so desires) recorded as a supplementary exhibit hereto. Every 90 days thereafter until substantial completion of the related development component, Owner shall provide the City Engineering Department with a Status Report on that Construction Schedule which generally describes the accomplishments of the preceding 90 days and those anticipated during the next 90 days. Amendments to a particular Construction Schedule which, in the view of the City Engineer, represent a substantial deviation from the original Construction Schedule, shall be processed in E C e 574 FAG E800 accordance with the extension procedures established in Section M hereof, and shall also be verified by signatures of the City Engineer and Chief Building Official and (if the City so desires) recorded as supplementary exhibits hereto. B. HOTEL PHASE I The Hotel Phase I component shall be comprised of.not more than 292 hotel units and not more than 294 hotel bedrooms and no residential units as shown on the First Amended Plat recorded in Book at Pages et sea., of the Records, each of the drawings and sheets pertaining to which is incorporated by reference as though fully annexed as an exhibit to this First Amended PUD Agreement. The total F.A.R. floor area in this component shall not exceed 190,000 square feet, and the total non - F.A.R. floor area shall not exceed 95,000 square feet. 1. Site Improvements - Hotel Phase I Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a condition precedent thereto, Owner shall have previously accomplished or, if not previously accomplished, hereby agrees to accomplish the following Section 20 -16 improvements in the Project area: (a) Owner shall relocate underground all electri- cal, telephone and cable television lines which presently exist above ground within the Project boundaries and along the portion of Monarch Street which adjoins Lot 1, with the possible exception in Owner's discretion of (i) those lines along vacated Dean Street between South Galena and Mill Streets, and (ii) the w Ce C, & '574 im8ol line along the easterly boundary of Lot 4, in accordance with the plans, profiles and specifications contained in the final Aspen Mountain P.U.D..Utility Plan (Sheet U1) recorded (as a part of the First Amended Plat) in Plat Book at page of the Records (hereinafter referred to as the "Utility Plan "), which Utility Plan shall be deemed incorporated herein by this reference, and in accordance with other normal City specifi- cations. (b) Owner has provided and installed a new twelve- inch (1211) water main in South Galena Street from the Durant/ Galena intersection to the Mill /Galena intersection, and shall provide and install a cross - connection between the existing 6" and 8" water lines in Monarch Street, and has relocated the existing Mill Street sewer line in an Easterly direction across Lot 5 to connect with the existing 8" sewer line in South Galena Street, all in accordance with the Utility Plan and pursuant to other normal City specifications. (c) Owner shall provide and install four (4) new fire hydrants within or adjacent to the Project area in accord- ance with the Utility Plan and pursuant to other normal City specifications. (d) Owner shall provide and install the storm sewer enlargement and extension along Mill Street between Cooper and Durant Streets, and then along Durant Street to South Galena Street, and then Southerly along South Galena Street to a point between Lot 4 and Lot 5, in accordance with the Utility Plan and pursuant to other normal City specifications. The stormwater 10 ce �OOK 574 PAGE802 detention facility in Mill Street.shall be designed to avoid utility conflicts and provide adequate separation from the water main to prevent freezing, to the satisfaction of the City Engineer. (e) Owner shall construct new sidewalks, curbs and gutters along the entire Project frontage on Monarch Street,-' along the Westerly side of Mill Street between Dean Street and the Southerly boundary of Lot 1 on Mill Street, and along the Southerly side of Durant Street between Monarch Street and the Westerly boundary of the Mountain Chalet property, in accordance with the Aspen Mountain lodge Project Landscape Plan (Sheet L.3 as amended) recorded (as a part of the First Amended.Plat) in Plat Book at Page of the Records (hereinafter referred to as the "Landscape Plan "), which Landscape Plan shall be deemed incorporated herein by this reference, and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. (f) Owner shall provide and install enriched paving at the Durant Street /Mill Street intersection, at the Dean Street /Mill Street intersection, at the Dean Street /Monarch Street intersection, and along Mill Street between Durant Street and Dean Street, in accordance with the Landscape Plan and pursuant to other normal City specifications. 11 Ce 6 pprry� BOOff 574 PAGEOU3 (g) Owner shall construct and pave an eight -foot (81) wide path within those portions of the "Alpine Trail" easement located within Lots 1 and 5, Aspen Mountain Subdivision. (h) Owner shall clear and grade a thirty -foot (301) wide ski trail, and shall gravel or otherwise surface as required an eight-foot (81) wide pedestrian trail, within the entire length of the "Aspen Mountain Trail" easement upon -and through Lots 1, 2 and 3 of the Aspen Mountain Subdivision. (i) Owner shall construct (grade, gravel, and asphalt pave) the South Galena Street realignment between Lot 4 and Lot 5, Aspen Mountain Subdivision, in accordance with the Utility Plan and the Landscape Plan and pursuant to other normal City specifications. (j) Owner shall re -open South Mill Street within the Project Area on or before December 1, 1988 for the ski season to a minimum width of 18' from the curb to the jersey barrier at the south end of the Project and greater than 18' at the north end of the Project. Owner shall accomplish the reconstruction and repaving of so much of the surface of South Mill Street within the Project Area as may have been damaged or destroyed during Owner's construction of underground facilities, in accordance with the Utility Plan and the Landscape Plan and pursuant to other normal City specifications, prior to the ski season of 1989. (k) Owner shall construct new sidewalks, curbs, and gutters along the Project frontage on Dean Street and shall 12 Ce (_• BOOK 574 PAGES04 repave Dean Street between South Monarch and South Mill Streets with enriched paving. (1) Owner shall obtain a Certificate of Occupancy for the Ice Rink and Park on proposed Lot 6 contemporaneously with the issuance of a Certificate of Occupancy for Hotel, Phase I. 2. Landscaping Improvements - Hotel Phase I In.accor- dance with Section 24 -8.16 of the Municipal Code,.all required landscaping for Hotel Phase I shall substantially conform to the Landscape Plan. Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (ea., paving, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape features. Such landscaping shall be completed in a logical sequence commensurate with the staging of improvements as contemplated in the Hotel Phase I Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Hotel Phase I. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Hotel Phase I even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph B(3) 13 6•• BODK 574 PAGE805 hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Paragraph B(3). The Norway maple trees on the Landscape Plan shall be approximately fifteen to twenty feet (15' - 201) tall at the time of their planting and shall be watered through an underground system to be installed by Owner. 3. Financial Assurances - Hotel Phase I. In order to secure the construction of the site improvements described in Paragraph B(1) above, and to guarantee one hundred percent (1000) of the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $863,000.00 (as such amount may be updated from time to time as herein provided), and in order to secure the installation of the landscaping improvements described in Paragraph B(2) above, and 1 to guarantee 125% of the estimated cost of such improvmeents, which estimated cost plus 25% is approved by the City Engineer to be $500,000.00 (as such amount may be updated from time to time as herein provided), Owner shall guarantee by irrevocable bond, sight draft or letter of commitment or credit from a financially responsible lender that funds in the amount of such estimated costs, plus an additional 25% of the estimated cost of the landscaping improvements, are held by it for the account of Owner for the construction and installation of the above - described improvements. City acknowledges that Owner has, as a condition imposed by the City to the issuance of a permit heretofore issued by the City in connection with Hotel Phase I, and pursuant to escrow instructions dated April 14, 1988, a copy of which is 14 Co sonx 514 PAGE806 hereto annexed as Exhibit A ( "Escrow Instructions "), already posted with City (partly in cash and partly in the form of a letter of credit) financial assurances, sufficient in the estimation of the City for these purposes, in the amount of $1,228,000.00. The City and Owner acknowledge and agree that the difference of $135,000.00 between the amount of financial assurances heretofore posted and the amount hereinabove committed to shall, for all intents and purposes, be deemed already to have been given by virtue of the non - exclusive earmarking, herein confirmed, of that difference from the $650,000.00 in financial assurances given by Owner pursuant to the Escrow Instructions in respect of certain excavation work undertaken in connection with Hotel Phase I, all as is more particularly below described. All financial assurances given by Owner to City, in all events, shall .give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional administrative or legal costs associated with any such default and the repair of any deterioration in improvements already , constructed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are completed, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that (a) ten percent 15 (0- eooK S f*PACE807 (10 %) of the actual cost of the site improvements shall be retained until all proposed site improvements are completed and approved by the City Engineer, and (b) that 25% of the estimated cost of the landscaping improvements shall be retained for the two -year period next following the installation of such improve- ments to secure their maintenance in a satisfactory condition for such period. Provided, that the retained ten percent (10 %) which relates to site improvements shall be released by City upon completion and approval by the City Engineer of all such site improvements and regardless of the stage of completion of landscape improvements. City and Owner confirm and acknowledge that the references in the Escrow Instructions to Paragraphs B(1) and B(2) of the PUD Agreement shall henceforth be construed to mean Paragraphs B(1) and B(2) of this First Amended PUD Agreement, and Owner shall amend the Escrow Instructions accordingly. The Owner also shall deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suitable guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. At anytime and from time to time, Owner shall have the right to substitute for the form of financial assurance there- tofore given a different form of financial assurance, so long as such substituting form meets the requirements for form and content above set forth. Any such substitution shall be subject to the prior approval of City Council, which shall promptly 16 Q� BOON 5 PAGE808 consider the request to substitute and shall not unreasonably withhold its approval. Furthermore, Owner agrees to and does hereby warranty all such site improvements except landscaping to accepted standards of good workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. In addition to this warranty, .the Owner shall, if they are available, obtain -from its contractors customary warranties of good workmanship with the City as beneficiary, with respect to all improvements required by Paragraphs B(1) and B(2). City and Owner confirm and acknowledge that, notwithstand- ing anything in the Escrow Instructions to the contrary, of the sum of $650,000.00 posted with the City to secure the obligation of Owner to refill, compact and re -seed any portion of Lot 1 excavated pursuant to the permit that earlier issued in connec- tion with Hotel Phase I upon the occurrance of the conditions set forth in the Escrow Instructions, the sum of $515,000.00 shall be returned to Owner, together with interest accrued thereon, at such time, but not before, Owner completes all below -grade structural and foundation work and pours the at -grade slab for Hotel Phase I. $135,000.00 of such sum shall remain in escrow and shall be thenceforth considered exclusively as a part of the financial assurances for the improvements described in Paragraphs B(1) and B(2),,above. It is the understanding of the parties that the procedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforcement and 17 mor, 5 4 o -AGE 80 9 implementation of the financial assurances set forth, or otherwise described herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - Hotel Phase I Based upon existing formulae approved by the City for calculating employee housing obligations, Owner's obligation to provide off -site employee housing is an obligation to house 60% of the currently-estimated full -time equivalent employees ("FTEE") for Hotel Phase I, Galena Place (hereinafter described), and Summit Place (hereinafter described), or 161.5 in number, all as is more particularly described in Exhibit B, hereto annexed. Nonetheless, Owner has agreed to provide off -site housing for 198.5 employees in connection with Hotel Phase I, Galena Place, and Summit Place as an inducement to the City to approve the amendments to the Aspen Mountain P.U.D. /Subdivision contemplated herein. Accordingly, Owner agrees that (i) in the case of the Alpina Haus Lodge and the Copper Horse Lodge, and, subject to the provisions of Paragraph 4(d), below, in the case of Ute City Place, effective contemporaneously with, but not before, the issuance of a Certificate of Occupancy for Hotel Phase I, (ii) in the case of the Hunter Longhouse, prior to the recording of this Agreement in the Records, and (iii) in the case of the Grand Aspen Hotel, effective upon the issuance of the next phase building permit for Phase I, Owner shall simultaneously with the recordation of this First Amended PUD Agreement, cause to be recorded in the Records (except to the extent Owner has previously done so, as herein- after acknowledged) or escrowed as the case may be, as provided 18 BOOR 5 4 PAGE 810 below, deed restrictions acceptable in form to the City Attorney confirming the following about the employee housing for Hotel Phase I, Galena Place, and Summit Place: (a) Alpina Haus: Forty -three (43) units, comprised of 40 hotel rooms, 2 studio apartments and 1 dorm apartment, and housing a total of 46 employees, are hereby dedicated for fifty (50) years to City employee housing rental only guidelines and restrictions, with rents (including all common utilities) not to exceed 25% of the employees' average monthly income or $200.00 per month per person, whichever is less. Provided always, that rental prices shall be indexed to the annually adopted employee housing guidelines approved by the City. (b) Copper Horse: Fourteen (14) units, comprised of one 1- person room, six 4- person rooms, four 3- person rooms, and three 2- person rooms, and housing a total of 43 employees, are hereby dedicated for fifty (50) years to City employee housing rental only guidelines and restrictions, with rents (including all common utilities) not to exceed 25% of the employees' average monthly income or $200.00 per month per person, whichever is less. Provided always, that rental prices shall be indexed to the annually adopted employee housing guidelines approved by the City. (c) Grand Aspen Hotel: Four (4) units comprised of four (4) hotel rooms housing a total of 3.5 employees are hereby dedicated for fifty (50) years to City employee housing rental only, guidelines and restrictions, with rents (including all common utilities) under moderate income rental guidelines of the 19 �ooK 14 PAGE 811 City of Aspen. Provided always, that rental prices shall be indexed to the annually adopted employee housing guidelines approved by the City. Upon redevelopment of Lot 5 this employee housing requirement for 3.5 employees shall be relocated in a manner and on a site acceptable to the City of Aspen, pursuant to the provision therefor made in the employee housing dedication for the units in the Grand Aspen Hotel more particularly. -below described. (d) Ute City Place: Twenty -two (22) units, comprised of six studios, twelve 1- bedroom units, and four 2- .bedroom units and housing a total of 37 employees, are hereby dedicated for fifty (50) years to City employee housing moderate income rental and sale price guidelines and restrictions. Unlike The Copper Horse Lodge and The Alpina Haus Lodge, which are in existence, Ute City Place has not yet been constructed. Accordingly, if at the time Owner is otherwise eligible to receive a Certificate of Occupancy for Hotel Phase I some or all of the units in Ute City Place are not ready for occupancy, Owner shall, if but only if it by that time is the owner of the Ute City Place property and has begun construction of the Ute City Place project, have the right to substitute such of the units of Ute City Place not then ready for occupancy with units in the Grand Aspen Hotel burdened with restrictions in the same manner as those described in Paragraph 4(c) above, in which event a Certificate of Occupancy for Hotel Phase I shall not be withheld by reason of the incompletion of Ute City Place at the time the Certificate of Occupancy is sought. Owner acknowledges that, if 20 L BOOK 5 PAGE812 at the time it is otherwise eligible to receive a Certificate of Occupancy for Hotel Phase I it either does not own the Ute City Place property or construction of the Ute City Place Project has not begun, Owner shall not be entitled to a Certificate of Occupancy for Hotel Phase I unless and until it furnishes alternate employee housing for 37 employees, which employee housing shall be acceptable to the City in its reasonable determination. The employee housing commitments described in subpara- graphs (a), (b), (c), and (d) above shall be performed in the following manner: (1) Contemporaneously with the execution of this Agreement, Owner has signed, acknowledged and caused to be recorded in the Records a "Dedication of Real Property to Employee Housing Restrictions and Guidelines" covering four rooms in The Grand Aspen Hotel, a copy of which is annexed hereto as Exhibit C. (2) Contemporaneously with the execution of this Agree- ment, Owner has signed, acknowledged and delivered into escrow with the Aspen City Clerk a "Dedication of Real Property to Employee Housing Restrictions and Guidelines" covering Ute City Place, a copy of which is hereto annexed as Exhibit D, which is to be held by the City Clerk until the time that Owner closes upon its option to acquire title to the Ute City Place property, presently scheduled for November , 1988, whereupon the City Clerk shall and is hereby authorized, empowered, and instructed to record in 21 BOOK 574 PAGEK3 the Records the Dedication for Ute City Place. Owner .covenants that from and after the date hereof any entities lending funds secured or to be secured by the Ute City Place property shall be given actual notice of the dedication requirement pertaining to Ute City Place. Moreover, immediately upon its acquiring title to the Ute City Place property, Owner shall present to the City Attorney a then current Owner's and Encumbrancer's report, or other evidence satisfactory to the City Attorney, confirming title to the Ute City Place property in Owner and confirming that the employee housing dedication for Ute City,Place has been recorded and is binding upon all persons then with or thereafter acquiring an interest in the Ute City Place property, except only the benefici- ary(ies) of the purchase money deed of trust to be given to the sellers in connection with Owner's acquisition of the Ute City Place property. With respect to such deed of trust, and provided Owner has not made alternative arrangements acceptable to the City for the housing of 37 employees in lieu of Ute City Place as above provided, Owner acknowledges that prior to and as a condition of the issuance of a Certificate of Occupancy for Hotel Phase I, such deed of trust shall be fully discharged and released of record by the time construction on the Ute City Place project commences, to the end that from and after the time of issuance of such Certificate of Occupancy the employee housing restrictions for Ute City Place shall be binding 22 LOOK 5 PAGE 814 upon all then having or thereafter acquiring any interest therein for the duration of such deed restrictions. (3) The employee housing Dedication for The Copper Horse Lodge was previously made in connection with the delivery, acceptance and recordation of that certain Special Warranty Deed of Conveyance from the owner of the Copper Horse Lodge, Commerce Savings Association, to Downhill Asso- ciates, Inc., dated April 10, 1987, and recorded in Book 533 at Page 781, et seq., of the Records, a copy of which is hereto annexed as Exhibit E, which dedication is hereby confirmed as being acceptable to the City for purposes of Owner's obligation herein concerning employee housing in respect of the Copper Horse Lodge, to become effective upon issuance of a Certificate of Occupancy for Hotel Phase I. (4) The employee housing Dedication for the Alpina Haus Lodge was previously made in connection with the delivery, acceptance and recordation of that certain Special Warranty Deed of Conveyance from Owner to Riscor, Inc., dated March 10, 1988, and recorded in Book ,%_Y at Pages 8// , et seq. , of the Records, a copy of which is hereto annexed as Exhibit F, which Dedication is hereby confirmed as being acceptable to the City for purposes of Owner's obligation herein concerning employee housing in respect of the Alpina Haus Lodge, to become effective upon issuance of a Certificate of Occupancy for Hotel Phase I. (e) Hunter Longhouse: For and in consideration of (i) the making by Owner of a $250,000 subordinated equity 23 eonx 574 P -GE815 capital investment in the Hunter Longhouse project, which funds have already been delivered and receipted for, and (ii) the recording in Book 50 at Page 646 of the Records of a "Dedication of Real Property to Employee Housing Restrictions and Guidelines" covering the Hunter Longhouse project executed by Owner, the City, the Board of Pitkin County Commissioners, and Aspen - Pitkin Employee Housing, Inc., Owner has been credited with housing a total of 69 employees. Upon the City's issuance to the Owner of a valid and effective Certificate of Occupancy for Hotel Phase I, 60.3 of said 69 employee housing credits shall be deemed automatically allocated to and consumed by the Hotel Phase I component of the Project. (f) Commitment by Housing Authority and Owner: For and in consideration of (i) the non - interest- bearing nature of Owner's equity investment in Hunter Longhouse, and (ii) the joint commitment made by the City /County Housing Authority and Aspen - Pitkin Employee Housing, Inc., to apply such invested capital and the interest earned thereon to the development and /or acquisition (and the dedication to City of Aspen low and /or moderate income employee housing restrictions and guidelines), prior to the issuance of a Certificate of Occupancy for Hotel Phase I of the Project, of housing for an additional 13 employees which commitment is embodied in an Agreement recorded in Book 500 at page 652 of the Records, Owner has been credited with housing 13 additional employees. Accordingly, upon the City's issuance to the Owner of valid and effective Certificate of Occupancy for Hotel Phase I, all of said 13 employee housing credits shall be 24 eonK K4 PAGE816 deemed automatically allocated to and consumed by the Hotel Phase I component of the Project. (g) Audit: Owner and City agree that there shall be an audit performed of the hotel after its second full year of operation to determine the actual number of FTEEs working in Hotel Phase I. In the event the audit determines that Hotel Phase I has a higher FTEE count than 269, the Owner shall provide employee housing for sixty percent (60 %) of the number in excess if such 60% number added to 161.5 is greater than 198.5. Such additional employee housing (if any is required) shall be deed restricted based on the ratios of at least 56% low income and no more than 44% moderate income units. The Owner shall seek and obtain final approval of any plans for the pro- duction for any such housing within twelve (12) months of the published results of such audit and shall seek and obtain a Certificate of Occupancy for any such housing within twenty -four (24) months of the published results of such audit. For the purposes of this requirement, the audit shall be performed and FTEEs shall be defined according to the Housing Authority guidelines in effect at the time of this approval, a copy of which is hereto annexed as Exhibit G. The cost of the audit shall be paid for by the Owner, but the choice of auditor shall be that of the Housing Authority, so long as the auditor is an independent certified public accountant licensed to and doing business in Pitkin County, Colorado. 6. On -Site Parking - Hotel Phase I. Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a 25 CO eou 574 P11151-817 condition precedent thereto, Owner shall have constructed a minimum of two hundred twenty (220) subsurface parking spaces within Lot 1 of the Aspen Mountain Subdivision, and shall have provided ten (10) permanent service vehicle berths and /or guest loading spaces under the hotel porte cochere or along the South side of vacated Dean Street within Lot 1. In addition, Owner shall have provided one hundred twenty -nine (129) temporary parking spaces within Lot 5, such spaces to be sited approxi- mately as follows: (a) 55 spaces - surface lot on westerly portion of Lot 5. (b) 18 spaces - surface lot on easterly portion of Lot 5. (c) 28 spaces - Grand Aspen Hotel garage. (d) 6 spaces - service vehicle berths and /or guest loading. (e) 13 spaces - parallel parking along North side of vacated Dean Street. (f) 9 spaces - angle parking along South side of vacated Dean Street. The above - described subsurface and surface parking spaces (359 in all) represent the aggregate number of on -site parking spaces which Owner is required to provide in connection with Hotel Phase I of the Project and the Grand Aspen Hotel renova- tion. 26 r (0 C. SUMMIT PLACE Pon,( 574 PAGE818 1. Site Improvements - Summit Place. The Summit Place component shall be comprised of 3 two - bedroom residential units containing an aggregate of not more than 7,700 square feet of floor area included in external FAR calculations as shown on the First Amended Plat recorded in Book at Page et sec.., of the Records, each of the drawings and sheets pertaining to which is incorporated by reference as though fully annexed as an exhibit to this First Amended PUD Agreement. Prior to the issuance of a Certificate of Occupancy for Summit Place, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Summit Place area: (a) Owner shall construct a new sidewalk, curb and gutter along the Westerly side of Mill Street as it abuts Lot 2, Aspen Mountain Subdivision, and shall construct a new sidewalk along the Northerly side of the "Summit Street Easement" within lot 3, Aspen Mountain Subdivision, in accordance with the Landscape Plan and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. 2. Landscaping Improvements - Summit Place. In accor- dance with Section 24 -8.16 of the Municipal Code, all required landscaping for Summit Place shall substantially conform to the Landscape Plan as amended (Sheet L.7) recorded (as a part of the First Amended Plat) in Plat Book 27 at Page of the Records. eom 574 rsE819 Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (ea., paving, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape features. Such landscaping shall be completed in a logical sequence commensurate with the staging of improvements as contemplated in the Summit Place Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Summit Place. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Summit Place even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph C(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Paragraph C(3). 3. Financial Assurances - Summit Place. In order to secure the construction of the site improvements described in Paragraph C(1) above, and to guarantee one hundred percent (loot) of the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $4,000.00 (as such.amount may be updated from time to time as herein 28 BOOK 574 PA, GE82O provided), and in order to secure the installation of the landscaping improvements described in Paragraph C(2) above, and to guarantee 125% of the estimated cost of such improvements, which estimated cost plus 25% is approved by the City Engineer to be $15,654.00 (as such amount may be updated from time to time as herein provided), Owner shall, as a condition to the issuance of a building permit, guarantee by irrevocable bond, sight draft or letter of commitment or credit from a financially responsible lender that funds in the amount of such estimated costs, plus an additional 25% of the estimated cost of the landscaping improve- ments, are held by it for the account of Owner for the construc- tion and installation of the above - described improvements. All financial assurances given by Owner to City shall be in a form acceptable to the City Attorney and the City Manager and shall give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional administrative or legal costs associated with any such default and the repair of any deterioration in improvements already constructed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are completed, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that (a) ten percent 29 • RM-GEVI J L' (10 %) of the estimated cost of the site improvements shall be retained until all proposed site improvements are completed and approved by the.City Engineer, and (b) that 25% of the estimated costs of the landscaping improvements shall be retained for the two -year period next following the installation of such improve- ments to secure their maintenance in a satisfactory condition for such period. Provided, that the retained ten percent (10 %)..which relates to site improvements shall be released by City upon completion and approval by the City Engineer of all such site improvements and regardless of the stage of completion of landscape improvements. The Owner also shall deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suitable guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. At anytime and from time to time, Owner shall have the right to substitute for the form of financial assurance there- tofore given a different form of financial assurance, so long as such substituting form meets the requirements for form and content above set forth. Any such substitution shall be subject to the prior approval of City Council, which shall promptly consider the request to substitute and shall not unreasonably withhold its approval. Furthermore, Owner agrees to and does hereby warranty all such site improvements except landscaping to accepted standards of good workmanship for a period of one (1) year from and after 30 • C c .) ? ,0011 J 1 4 PUE V? acceptance thereof in writing by the City. In addition to this warranty, the Owner shall, if they are available, obtain from its contractors customary warranties of good workmanship with the City as beneficiary, with respect to all improvements required by Paragraphs C(1) and C(2). It is the express understanding of the parties that the procedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforcement and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - Summit Place. Owner has no employee housing obligations in connection with the Summit Place component of the Project. 5. On -Site Parking--- Summit Place. Owner has no new on- site parking obligations in connection with the Summit Place component of the project. Owner shall, however, preserve or reconstruct six (6) sub - surface parking spaces beneath Lot 2. D. GALENA PLACE 1. Site Improvements - Galena Place. Galena Place shall be comprised of 4 three - bedroom residential units containing an aggregate of not more than 12,000 square feet of floor area included in external FAR calculations as shown on the First Amended Plat recorded in Book at Page , et sec., of the records, each of the drawings and sheets pertaining to which is incorporated by reference as though fully annexed as an exhibit 31 Co C• Pon,, 574 pAH8?3 to this First Amended PUD Agreement. Prior to the issuance of a Certificate of Occupancy for Galena Place, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Galena Place area: (a) Owner shall construct a new sidewalk, curb and gutter along the easterly side of South Galena Street (as. realigned) as it abuts Lot 4, Aspen Mountain Subdivision, and a new curb and gutter along the westerly side of South Galena Street (as realigned) as it abuts Lot 5, Aspen Mountain Sub- division, in accordance with the Landscape Plan as amended and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construc- tion. (b) In the event it has not already done so, Owner shall relocate underground the aboveground utility line which presently exists along the Easterly boundary of Lot 4, Aspen Mountain Subdivision, in accordance with the Utility Plan as amended and pursuant to other normal City specifications. 2. Landscaping Improvements - Galena Place. In accordance with Section 24 -8.16 of the Municipal Code, all required landscaping for Galena Place shall substantially conform to the Landscape Plan. Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant 32 Ce '1aac ` 4 mu 8? 4 material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (ea., paving, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape features. Such landscaping shall be completed in a logical sequence commensurate with the staging of improvements as contemplated in the Galena Place Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Galena Place. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Galena Place even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph D(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Paragraph D(3). 3. Financial Assurances - Galena Place. In order to secure the construction of the site improvements described in Paragraph D(1) above, and to guarantee one hundred percent (100 %) of the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $27,500.00 (as such amount may be updated from time to time as herein provided), and in order to secure the installation of the landscaping improvements described in Paragraph D(2) above, and to guaranty 125% of the estimated cost of such improvmeents, which estimated cost plus 25 %, is approved by the City Engineer to 33 C 0 BOO *4 PAGE 8? 5 be $62,500.00 (as such amount may be updated from time to time as herein provided), Owner shall, as a condition to the issuance of a building permit, guarantee by irrevocable bond, sight draft or letter of commitment or credit from a financially responsible lender that funds in the amount of such estimated costs, plus an additional 25% of the estimated cost of the landscaping improve- ments, are held by it for the account of Owner for the construc- tion and installation of the above - described improvements. All financial assurances given by Owner to City shall be in a form acceptable to the City Attorney and the City Manager and shall give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional administrative or legal costs associated with any such default and the repair of any deterioration in improvements already constructed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are completed, the City Engineer shall inspect..them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that (a) ten percent (10 %) of the estimated cost of the site improvements shall be retained until all proposed site improvements are completed and approved by the City Engineer, and (b) that 25% of the estimated costs of the landscaping improvements shall be retained for the 34 Ce c eou 574 PAGE8 ?6 two -year period next following the installation of such improve- ments to secure their maintenance in a satisfactory condition for such period. Provided, that the retained ten percent (10 %) which relates to site improvements shall be released by City upon completion and approval by the City Engineer of all such site improvements and regardless of the stage of completion of landscape improvements. The Owner also agrees to deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suitable guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. At anytime and from time to time, Owner shall have the right to substitute for the form of financial assurance there- tofore given a different form of financial assurance, so long as such substituting form meets the requirements for form and content above set forth. Any such substitution shall be subject to the prior approval of City Council, which shall promptly consider the request to substitute and shall not unreasonably withhold its approval. Furthermore, Owner agrees to and does hereby warranty all such site improvements except landscaping to accepted standards of good workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. In addition to this warranty, the Owner shall, if they are available, obtain from its contractors customary warranties of good workmanship with the 35 C� <- • BOOK 574 p4GE8 ?7 City as beneficiary, with respect to all improvements required by Paragraphs D(1) and D(2). It is the express understanding of the parties that the procedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforcement and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - Galena Place. As an inducement to the City to approve the amendments to the Aspen Mountain P.U.D. /Subdivision contemplated herein, Owner has agreed to and does hereby acknowledge its obligation to provide off -site employee housing for employees in connection with the Galena Place component of the project. Accordingly, Owner agrees that prior to the recording of this Agreement in the Records, it shall already have deed - restricted units for employee housing as follows: (a) Hunter Longhouse: For and in consideration of (i) the making by Owner of a $250,000 subordinated equity capital investment in the Hunter Longhouse project, which funds have already been delivered and receipted for, and (ii) the recording in Book 500 at page 646 of the Records of a "Dedication of Real Property to Employee Housing Restrictions and Guidelines" covering the Hunter Longhouse project executed by Owner, the City, the Board of Pitkin County Commissioners, and Aspen - Pitkin Employee Housing, Inc., Owner has been credited with housing a total of 69 employees. Owner's employee housing obligation for 36 Ce Galena Place is 8.7 employees. C. roaK 574 PAGE ?v Accordingly, upon the City's issuance to the Owner of a valid and effective Certificate of Occupancy for Galena Place, 8.7 of said 69 employee housing credits shall be deemed automatically allocated to and consumed by the Galena Place component of the Project. 5. On -Site Parking - Galena Place. Prior to the issuance of a Certificate of Occupancy for Galena Place, and as a condition precedent thereto, Owner shall have constructed sixteen (16) subsurface parking spaces within Log 4 of the Aspen Mountain Subdivision. These subsurface parking spaces represent the total number of on -site parking spaces which Owner is required to provide in connection with the.Galena Place component of the Project. E. LOT 5 (HOTEL PHASE II), The Lot 5 component shall be comprised of not more than 50 hotel rooms (with the aggregate number of hotel rooms on Lots 1 and 5 not to exceed 342), and no more than 47 residential units between Lots 3 and 5, the exact number of such units to be es- tablished in the amended review process for Lot 5. The total floor area in this component shall not exceed 115,000 square feet included in external F.A.R. calculations (with the maximum aggregate floor area (countable for F.A.R. purposes) on Lots 1 and 5 to 6 305,000 square feet). Site specific building im- provements and uses for the Lot 5 component of the PUD are still in the process of being proposed by Owner and reviewed by City. However, in all events, building improvements and uses for 37 pof *4 RIGE829 the Lot 5 component shall not exceed the limitations herein set forth. 1. Site Improvements - Lot 5. Prior to the issuance of a Certificate of Occupancy for Lot 5 improvements, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Lot 5 area: (a) If it has not already done so during the Hotel Phase I development, Owner shall relocate underground all electrical, telephone and cable television lines which presently exist above ground along vacated Dean Street between South Galena and Mill Streets, in accordance with the Utility Plan and pursuant to other normal City specifications. (b) Owner shall construct a new curb and gutter along the entire Lot 5 boundary on Mill Street (and a new sidewalk along a portion thereof), a new sidewalk (and a curb and gutter if required) along the entire Lot 5 boundary on Dean Street, and a new sidewalk along the entire Lot 5 boundary on South Galena Street, in accordance with the Landscape Plan and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construc- tion. (c) Owner shall construct such other improvements as may be agreed to between Owner and City during the amended approval process for Lot 5. 2. Landscaping Improvements - Lot 5 - Premature. 38 Ce Ce I Pun 574 �a��B�Q 3. Financial Assurances - Lot 5 - Premature. 4. Employee Housing - Lot 5. As an inducement to the City to approve the amendments to the Aspen Mountain P.U.D. /Sub- division contemplated herein, Owner has agreed to and does hereby acknowledge its potential obligation to provide off -site employee housing for net new employees and other employee housing requirements as may be determined during the amended approval process for the Lot 5 component of the Project. 5. On -Site Parking - Lot 5. The on -site parking require- ments shall be determined for Lot 5 during the amended approval process. ment.) F. TOP OF MILL (Premature - to be established by amendment to this Agree- G. LOT 6 - (PROPOSED ICE RINK AND PARKI The Lot 6 component of the PUD is the parcel that is to be created from the replatting or subdivision of Lot 5, which has yet to be completed. Lot 6 is shown on the First Amended Plat as being "proposed" only. However, as a condition to the acceptance by the City of the First Amended Plat for recordation, the execution by the City of this First Amended PUD Agreement, and the uninterrupted construction of Hotel Phase I, Owner shall apply for and diligently pursue all necessary approvals from the City for the Ice Rink and associated facilities, including but not limited to GMQS exemption or allocation, conditional use N9 c� f 0 574 ME831 approval for a restaurant, and PUD approval to establish dimensional and parking requirements. Following this process Owner shall cause.to be prepared for review and acceptance by the City an amendment hereto and to the First Amended Plat incor- porating the development activity for Lot 6 more particularly hereinbelow described. Pursuant to the above conditions, Owner shall construct and operate on Lot 6 an ice skating rink and park to be a permanent community activity center, according to representations made during the approval for Hotel Phase I. To this end, Owner intends that Lot 6 shall be rezoned by the City of Aspen from the current CL and LT /R zoning classifications to P (Park). Owner shall apply for the rezoning within 90 days after receipt of a full building permit for Hotel Phase I, but in no event later than April 1, 1989. In the event Owner has not applied for the rezoning by this date, the City is authorized to initiate the rezoning on the Owner's behalf and Owner shall not object and hereby agrees to pay all administrative costs of said rezoning. Owner further agrees to execute a deed restriction in a form acceptable to the City Attorney limiting the use of Lot 6 for a community activity center and public ice skating rink, with accessory uses as determined through the approval process. 1. Site Improvements - Lot 6 - Prior to the issuance of a Certificate of Occupancy for Lot 6, and as a condition precedent thereto, owner shall and hereby agrees to accomplish the following Section 20 -16 improvements on Lot 6. 40 C pong (a) If it has not already done so during the Hotel Phase I development, Owner shall relocate underground all electrical, telephone and cable television lines which presently exist above ground along vacated Dean Street between South Galena and Mill Streets, in accordance with the Utility Plan and pursuant to other normal City specifications. (b) Owner shall construct a new curb and gutter along the entire Lot 6 boundary on Dean Street (and a new sidewalk along a portion thereof), a new sidewalk (and a curb and gutter if required) along the proposed Lot 6 boundary on Galena Street, and a.new sidewalk along the entire Lot 5 boundary on Durant and Mill Streets, in accordance with the Landscape Plan and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. (c) Owner shall construct such other improvements as may be agreed to between Owner and City during the amended approval process for Lot 6. 2. Landscaping Improvements - Lot 6 - Premature. 3. Financial Assurances - Lot 6 - Premature. 4. Employee Housing - Lot 6. Because the proposal for Lot 6 is currently in the amendment approval process the final requirement for employee housing has not yet been determined. 5. On -Site Parking - Lot 6. Because the proposal for Lot 6 is currently in the amendment approval process the final requirement for on -site parking has not yet been determined. 41 • C POOK 5 FAGE833 H. ADDITIONAL OWNER REPRESENTATIONS Owner hereby further expressly warrants and represents to the City as follows: 1. Owner has renovated the existing Grand Aspen Hotel and the lands surrounding the same substantially in accordance with the "Continental Inn Renovation Program" attached hereto as Schedule 1. 2. For a .period of up to three years following the issuance of a Certificate of Occupancy for Hotel Phase I, a maximum of 447 hotel units may be in operation as short -term accommodations within the P.U.D. at any time. In this regard, owner shall reduce the number of operational hotel units in the existing Grand Aspen Hotel to a maximum of 155, such reduction to be accomplished by deed restriction for (4) existing hotel units in the Grand Aspen Hotel for employee housing as described in Section B(4) above, such deed restriction shall be effective no later than (and as a condition precedent to) the issuance to owner of a building permit covering Hotel Phase I. 3. The Owner shall obtain a demolition permit and complete the demolition of the Grand Aspen Hotel within three years of the date of issuance of a Certificate of Occupancy for the Phase I Hotel. Re- development of this site shall proceed in general accord with the plans presented for Lot 5, which have not been finalized as of the time of this Agreement. If final approval of re- development has not been granted by the deadline for demoli- tion of the Grand Aspen, the Owner shall be permitted to request an extension of the deadline from the City Council. If the date 42 Ce • max 574 P,sE834 for demolition shall occur during the traditional winter season, demolition need not begin until the day after the ski lifts shall close during that season. In the event demolition has not begun within 30 days of the end of the ski season, City may begin demolition of the Grand Aspen Hotel. Cost of the demolition shall be the responsibility of Owner, and the obligation of Owner to repay City any funds that it expends in connection with the demolition shall be and by these presents hereby is secured by a lien upon Lot 5 for the benefit of City, which lien shall be a first and prior lien superior to all but the lien of general taxes. 4. With respect to the various streets or portions thereof within the project which were vacated by.the City Council by Ordinance No. 14 (Series of 1985), Owner shall at all times hereafter honor and abide by the utility easement and emergency access rights reserved to the City in Sections 6 and 7, respectively, of said Ordinance. 5. All "Fire Prevention Measures" described on Schedule 2 attached hereto and made a part hereof by this reference shall be installed and /or incorporated in Hotel Phase I and II or in Galena Place as indicated. 6. All "Water and Energy Conservation Measures" described on Schedule 3 attached hereto and made a part thereof by this reference shall be installed and /or incorporated in Hotel Phases I and II or in Galena Place as indicated. 7. In order to minimize automobile travel and parking demand, all of the "Automobile Disincentives" described on 43 co ponK 574 PwE835 Schedule 4 attached hereto and made a part hereof by this refer- ence shall be provided in connection with the project as a whole. When the audit as outlined in 4(g) above is conducted, there shall take place a study to confirm the existence and use of the "Automobile Disincentives" described on Schedule 4 attached hereto. 8. Owner has previously contributed to City $25,000.00 toward the actual cost of the Rubey Park Transit Center. 9. Owner shall design and construct, at its sole expense on any site selected and obtained by Aspen Ski Club and for which appropriate approvals have been obtained, a new building (or a renovation and /or expansion of an existing building, at the Ski Club's option) containing a maximum of 1500 square feet of finished space and 500 square feet of unfinished space, such finished space to be of at least better quality and functionally than the clubhouse space which the Ski Club currently occupies, in exchange for the termination by the Ski Club of its existing leasehold agreement with the City covering lots 14 and 15 of the Capitol Hill Addition. In the alternative, should the Ski Club elect to participate with the City and /or other community organizations in the joint venture development and occupancy of a larger facility, Owner shall contribute to the Ski Club cash or certified funds (on an as needed basis) in an amount equal to the dollar value of the design and construction commitment first set forth above. 10. The Owner shall fund the sum of $250,000.00 toward the following: a Comprehensive Aspen Mountain Drainage Plan, the 44 Ce • �onK 574 P.<<..836 implementation of the Plan's recommendations and the provision of drainage easements. This commitment is in substitution for the prior commitment in the Initial PUD Agreement to provide on -site retention facilities on Lot 3 (The Top of Mill), and is compar- able in expense. Owner's obligation in this respect shall be in the form of an interest - bearing escrow to be created with the City on or before April 1, 1989, pursuant to escrow instructions, a specimen of which is hereto annexed as Exhibit H, enabling the City, through the City Engineer, to draw upon the funds from time to time and at anytime in order to defray the costs of engineer- ing studies, infra - structure improvements, acquisition of rights- of-way or other matters determined by the City in the exercise of its good faith discretion to better promote and implement a comprehensive unified drainage plan and system for Aspen Mountain. The City shall give to Owner ten (10) days advance notice of its intention to draw upon the escrow, specifying the nature of the expenditure to be paid whereupon the Owner shall have ten (10) days thereafter within which to object in writing thereto as being an expenditure not reasonably related to the promotion and implementation of a comprehensive unified drainage plan and system for Aspen Mountain. In the event the escrow agent receives any such objection, it shall not honor the draw request of the.City Engineer but instead shall refer the matter to the Aspen City Council for hearing, which shall be conducted by City Council as soon thereafter as is practical employing the procedures and standards of proof more particularly described in Section M below. If the City Council sustains the objection of 45 P�nit 4 P iGE 83 i the Owner, the escrow agent shall not honor the draw request of the City Engineer, or so much thereof as was objected to, and, otherwise, it shall honor the request. 11. Management of the hotel to be constructed on Lot 1 shall be entrusted to an entity with the experience and qualifi- cations necessary to operate a luxury resort hotel of the highest possible standards, while preserving a sensitivity to the nature and quality of these hotel facilities, to the immediate hotel neighborhood, and to the Aspen Community in general. Management shall be particularly qualified to seek and promote transient, vacation, group meeting, and conference business. 12. Each development component of the Project shall be constructed substantially in accordance with the architectural drawings therefor which have been recorded as part of the First Amended Plat documents, as such drawings may hereafter be modified with the consent of the City. 13. Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a condition precedent thereto, Owner shall deliver to the City Manager a document suitable for recordation which designates and sets aside thirty (30) of the Hotel Phase I parking spaces for purposes of long -term automobile storage by employees of the project housed off -site. 14. As a condition precedent to the issuance of a Certificate of Occupancy for Hotel Phase I, and pursuant to the PUD Agreement, Owner has substantially remediled the "life safety" deficiencies in the Copper Horse Lodge and the Alpina Haus Lodge identified by Tom Voorhees and John Ostwald in their memoranda to 46 °DOH 5 ! `t 0838 Jim Wilson of March 20 and March 21, 1985, respectively, copies of which memoranda are attached as Schedule 5 and 6, respec- tively, to this First Amended PUD'Agreement. For its part the City has issued a written acknowledgement of such fact, attached hereto as Schedule 7. 15. The following limits shall be placed on the construc- tion schedule in addition to those proposed by the Owner or required by the City Engineer: a. A "tennis" fence material shall be used to screen all staging areas on the site. b. All construction (except painting or similar "quiet" activities) shall be prohibited on the site between the hours of 10:00 p.m. and 7:00 a.m. C. Owner shall demonstrate to the City Engineering Department that permission has been obtained from adjacent owners for the booms on the tower cranes to swing over their properties. d. The Owner shall provide the City Engineer with an updated construction schedule prior to obtaining any additional building permits for the Project. 16. The Owner shall commit to meeting the Health Depart- ment requirements identified by Tom Dunlop in his memo regarding the Project dated February 18, 1988 and attached hereto as Exhibit I. 17. The accessory retail uses_ permitted within the Hotel Phase I shall be limited to the following and similar uses: sundry shop; car rental desk; travel desk; ski rental and repair 47 PonK 574 ',,GE839 store; ski and sports activity center; hotel operator souvenir store; beauty shop; florist shop; and gift shop. The four accessory retail spaces depicted in the building on Durant Street shall not be combined to create larger retail spaces. 18. In order to maintain the employee generation repre- sented by Owner, there shall be no more than 204 dining seats and 4,500 sq. ft. of net (defined as 800 of gross) dining area,• exclusive of lounge area and exclusive of seasonal outdoor dining, within the Hotel Phase I. 19. The Owner's commitment in the Initial PUD Agreement to participation in the Lodge Improvement District is hereby revised to a commitment to provide improvements on all project frontages which correspond to those planned for the South Galena /South Mill Improvement District. The Owner commits to construct those improvements adjacent to the hotel which were originally intended for construction by the district contractor, using funds which will be transferred from the district to the Owner. These improvements and the approximate scheduling for their installa- tion are more particularly described in Schedule 8, attached hereto and made a part hereof by reference, and Owner agrees to complete such improvements to the reasonable satisfaction of the City Engineer within the approximate time schedules indicated therein. I. PERIODIC PROJECT REVIEWS Owner agrees that every six (6) months following the date of final City apprbval of this Project until the construction of 48 u. n,t .r• all components thereof is complete, it shall meet with the City Planning Office for the purpose of informing the Planning Office as to its progress in developing the Project pursuant to the terms and provisions of the Agreement. If the Planning Office deems it necessary, the Planning Office will report to the Aspen Planning and Zoning Commission on the outcome of one or more of these meetings. The Owner and the City recognizes that these meetings are not opportunities for the Owner to avoid complying with the requirements of the Agreement but are for purposes of providing progress reports and developing mutually acceptable solutions to any problems that may be encountered during the construction period. J. PERMANENT CARE AND MAINTENANCE OF LANDSCAPING Owner agrees that it shall be the perpetual responsibility of the Owner or Owners from time to time of the lands within Lots 1, 2, 3, 4, 5 or 6, respectively, of the Aspen Mountain Subdivi- sion to maintain, care for, and replace when necessary, all trees, shrubs, plants, and other landscaping features which may be planted or otherwise incorporated in each of said Lots pur- suant to the Landscaping Plan. K. USE AND MAINTENANCE OF OPEN SPACE AND\ OTHER COMMON FACILITIES Owner shall occupy the Project Open space for such uses as may from time to time be deemed appropriate by Owner, provided that such occupancy and uses shall at all times be in compliance 49 q pAA • POOLS t 4 PAGE841 with the then applicable provisions of the Aspen Municipal Code. Pursuant to the provisions of Code 24 -8.19 (as applicable), the Owner agrees that it shall be the perpetual responsibility of the Owner or Owners from time to time of the lands within Lots 1, 2, 3, 4, 5, or 6, respectively, of the Aspen Mountain Subdivision to maintain in a clean and attractive condition and in a good state of repair all Open Space located within each of said Lots.. L. RECONSTRUCTION OF DEMOLISHED UNITS It is mutually acknowledged and verified between City and Owner that pursuant to Municipal Code Section 24- 11.2(a), Owner has the right, following their demolition, to reconstruct within the Aspen Mountain PUD a total of 275 hotel units and a total of 42 residential units. The original location (source) of these reconstruction units is identified on Schedule 9 attached hereto and made a part hereof by this reference. Furthermore, the City hereby agrees and confirms that for the 18 previously demolished residential units as identified on Schedule 9 attached hereto, the Owner shall have a two -year period for reconstruction commencing on the date of obtaining a demolition permit for demolition of the Grand Aspen Hotel on Lot 5. M. NON - COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS BY.OWNER In the event that the City Council determines that the Owner is not acting in substantial compliance with the terms of this Agreement and /or one or more of the Construction Schedules ALI BOOK submitted to the City Engineering Department in accordance herewith, the City Council may issue and serve upon the Owner a written order specifying the alleged non - compliance and requiring the Owner to remedy the same within such reasonable time as the City Council may determine. Within twenty (20) days of the receipt of such order, the Owner may file with the City Council either a notice advising the City Council that it is in.compli ance or a written petition requesting a hearing to determine any one or both of the following matters: (a) Whether the alleged non - compliance exists or did exist, or (b) Whether a variance, extension of time or amendment to this Agreement should be granted with respect to any such non- compliance which is determined to exist. Upon the receipt of such petition, the City Council shall promptly schedule a hearing to consider the matters set forth in the cease and desist order and in the petition. The hearing shall be convened and conducted pursuant to the procedures normally established by the City Council for other hearings. If the City Council determines by a preponderance of the evidence that a non - compliance exists which has not been remedied, it may issue such orders as may be appropriate; provided, however, no order terminating any approval granted herein shall be issued without a finding of the City Council that substantial evidence warrants such action and affording the Owner a reasonable time to remedy such non - compliance. A final determination of non- compliance which has not been remedied or for which no variance 51 • 4 eou 574 PAGE843 has been granted may, at the option of the City Council, and upon written notice to the Owner, terminate any of the approvals contained herein which are reasonably related to the require- ment(s) with which Owner has failed to comply. Alternatively, the City Council may grant such variances, extensions of time or amendments to this Agreement as it may deem appropriate under the circumstances. In addition to the foregoing, tha Owner or its successors or assigns may, on its own initiative, petition the City Council for a variance, an amendment to this Agreement, or an extension of one or more of the time periods required for performance under the Construction Schedules or otherwise. The City Council may grant such variances, amendments to this Agreement, or extensions of time as it may deem appropriate under the circumstances. The parties expressly acknowledge and agree that the City Council shall not unreasonably refuse to extend the time periods for performance indicated in one or more of the Construction Schedules if Owner demonstrates.by a preponderance of the evidence that the reasons for the delay(s) which necessitate such extension(s) are beyond the control of the Owner, despite good faith efforts on its part to perform in a timely manner. N. PARK DEDICATION FEE In accordance with the provisions of Section 20 -18 of the Municipal Code, the City Council has elected to receive from Owner cash permits (in lieu of land dedications) in satisfaction of Owner's park dedication fee requirements arising from the 52 p Aspen Mountain Subdivision: The City and Owner have calculated the following park dedication fees for the various Project components, each of which amounts shall be paid by Owner to City in the form of cash or certified funds at the time that Owner applies for a Building Permit for the related component: Development Component Lot 1 - Hotel Phase I Lot 2 - Summit Place Lot 4 - Galena Place Lot 5 - Hotel Phase II Lot 3 - Top of Mill Lot 6 - Ice Rink & Park Park Dedication Fee $ - 0 - 6,195.72 9,770.17 (Premature - to be established by amendment to this Agreement) (Premature - to be established by amendment to this Agreement) O. GENERAL PROVISIONS 1. Notice. Notices to be given to the parties to this Agreement shall be deemed given if personally delivered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or at such other addresses as may be substituted upon written notice by the parties or their successors or assigns: City of Aspen: City Manager 130 South Galena Street Aspen, Colorado 81611; Owner: Savanah Ltd. Partnership 1300 17th Street Suite 1100 Rosslyn, VA 22209; 53 J,. Box 4 ,)as,845 With a copy to: Robert W. Hughes, Esq. Oates Hughes and Knezevich 533 E. Hopkins Avenue Aspen, Colorado 81611; and Perry A. Harvey Hadid Aspen Holdings, inc. 600 E. Cooper, Suite 200 Aspen, Colorado 81611 2. Binding Clause. The provisions hereof shall run with and constitute a burden upon the title to the subject property, and shall be binding upon and shall inure to the benefit of the Owner and the City and their respective heirs, personal represen- tatives, successors and assigns. 3. Applicable Law. This Agreement shall be subject to and construed in accordance with the laws of the State of Colorado and the Municipal Code of the City of Aspen. However, inasmuch as review of the planned unit development amendment contemplated herein was initiated prior to May 25, 1988, the effective date of substantial revisions to Chapter 24 of the Municipal Code, all reference herein to the Municipal Code or to particular sections thereof shall be deemed to refer to the Code or, as the case may be, to sections thereof in effect on May 24, 1988, except to the extent that subsequent changes to the Municipal Code or to sections thereof have herein been made expressly applicable to the First Amended PUD or to the perform- ance of Owner's obligations hereunder. 4. Severability. If any of the provisions of this Agreement or any paragraph, sentence, clause, phrase, word or section or the application thereof in any circumstances is 54 r *oox 574 PasrL846 invalidated, such invalidity shall not affect the validity of the remainder of the Agreement and the validity of any such provision, paragraph, sentence, clause, phrase, word or section under any other circumstances shall not be affected thereby. 5. Incorporation of Recitals and Written Submittals. The City and Owner hereby stipulate and agree that the "recitals" preceding this Agreement, and all of the written submittals (as amended and presently effective) made by Owner to City throughout the course of the Aspen Mountain PUD /Subdivision approval process, shall be deemed to be part of this Agreement and to be incorporated herein by this reference. 6. Entire Agreement; Amendment. This Agreement contains the entire understanding and agreement between the parties herein with respect to the transactions contemplated hereunder and may be altered or amended from time to time only by written instru- ment executed by each of the parties hereto. 7. Survival. Each of the obligations, commitments and representations made herein by the Owner and the City, including as to the processing and completion of further review for the components of the Project that have yet to receive final approval, and the parameters of development activity contemplated herein for such Project components, shall survive the execution hereof and the enactment of subsequent legislation initiated by the City in any manner inconsistent with such obligations, commitments, and representations. 8. Acceptance of Plat; Ratification by Owner. Upon execution of this Agreement by all parties hereto, the City 55 ponx 574 PAGE847 shall approve and execute the First Amended Plat, and to accept the same for recordation in the Recording Office of Pitkin County, Colorado, upon payment of the recordation fee and costs to the City by Owner. For its part, Owner hereby ratifies and confirms each and every representation and public dedication made and set forth by Owner on said Plat. IN WITNESS WHEREOF, the parties have hereunto.set their hands and seals the day and year first above written. CITY: ATTEST: ie Pc L gtio ` CC ROVED AS TO FORM: City Attorney\ STATE OF COLORADO ) ss: COUNTY OF PITKIN ) THE CITY OF ASPEN, COLORADO a municipal corporation By: illiam Stirlin , Mayor The foregoing instrent was acknowledged before me this um day of ��"ri -lc� , 198 , by William Stirling as Mayor and h as City Clerk of the City of Aspen, State of Witness my hand and official seal. My commission expires: r y' N ary Pub 56 b�. S •c OWNER: .......... 1 STATE OF COLORADO ss: COUNTY OF PITKIN OC Book 574 pm.-:848 SAVANAH LIMITED PARTNERSHIP, a District of Columbia Limited Partnership By 1001, Inc., a District of Columbia corporation The foreg ln.Sj instrument was acknowledged before m this day of �� /,•' ?i�, 198�e' �C��� Witness my hand and official seal. My commission expires: 57 eonx 574 PAGE849 CON.;E ITS OF' MORTGAGEES FTPST IN'rFRSTATE BANK OF DENVER, N.A. , the beneficiary of ,i dr-ed of trust recorded in Book at Pages et sea., of the Pitkin County, Colorado real property records encumberinq hot `i of tho Aspen Mountain Subdi.vlsi.on and Planned Unit Development, hereby con ":en , t :o the, w+ � hi n erne] foregoing First: Atnenciod and post�ited P] r7nne(a Unit' Agrc•emr�nt - Agpfc n - MOMO -,in Subdivision, and to the provisions of Paragrrtph 3 of M thereof conferring upon the City of Aspen a (inchoate:) f i rst I J rt up�,n 1:c)t upon the conditions more particularly '. rI.- i I, :1-!t: f01:tII. i Iit i'1' i.t.-ri,;RSTATE BANK OF UF.NVF ;P, N.A. ��SiS7�t•J7" // <C� iP,Es�,DE -uT STATE OP C01,ORF,DU ) ss. COUNTY j The for- ogoiny I.ristrument was ac no led d I .fore me da }� of 1988" by ,�' "•• �'. - 1f o. FITST TNTErts'rATE. BANK __... OF DFNVE -R, N.A. lit ka • WITNESS my hand and off ICI seal. My commission expires: % O Cti` �I- _ Not, - Fu is M.AIMAC INVESTMENTS, INC. , a Delaware corporation, the honefi.ciary of a deed of trust recorded in Book 549 at Pages 371, ot: sect. , of the Pitkin County, Corrado real property records enr..uml,ering, .utter alia, Lots 1, 2, 3, 4, 5 (arid proposed I-.ot 6) of the Aspen i4) nt(in Subdivision, hereby consents to the terms of the within and foregoing First Amended and Restated Planned Unit Development /Suhdi.vis ion. Agreement - Aspen Mountain Subdivi- siun. MARJAC INVESTMENTS, INC. , a Delaware corporation (lc knc>wl���l��mc�rtt -, on P go 2 followinq) nm 574 P GESSO CONSENTS OF MORTGAGEES FIRST INTERSTATE BANK OF DENVER, N.A., the beneficiary of a deed of trust recorded in Book at Pages , et seq., of the Pitkin County, Colorado real property records encumbering Lot 5 of the Aspen Mountain Subdivision and Planned Unit Development, hereby consents to the within and foregoing First Amended and Restated Planned Unit Development /Subdivision Agreement - Aspen Mountain Subdivision, and to the provisions of Paragraph 3 of Section M thereof conferring upon the City of Aspen a (inchoate) first lien upon Lot 5 upon the conditions more particularly therein set forth. STATE OF COLORADO ss. COUNTY OF FIRST INTERSTATE BANK OF DENVER, N.A. By The foregoing instrument was acknowledged before me this day of , 1988, by as of FIRST INTERSTATE BANK OF DENVER, N.A. (SEAL) WITNESS my hand and official seal. My commission expires: Notary Public MARJAC INVESTMENTS, INC., a Delaware corporation, the beneficiary of a deed of trust recorded in Book 549 at Pages 371, et sec., of the Pitkin County, Colorado real property records encumbering, inter alia, Lots 1, 2, 3, 4, 5 (and proposed Lot 6) of the Aspen Mountain Subdivision, hereby consents to the terms of the within and foregoing First Amended and Restated Planned Unit Development /Subdivision Agreement - Aspen Mountain Subdivi- sion. MARJAC INVESTMENTS, INC., a Delaware corporation (Acknowledgment on Page 2 following) ,r STATE OF VIRGINIA ) ss. COUNTY OF FAIRFAX ) • covy 5 ( rl 1, Pg6E� 1 The foregoing instrument was acknowledged before me this 19th day of SEPTEMBER , 1988, by DR. M. YAOUB MIRZA as EXECUTIVE VICE PRESIDENTS rIARJAC INVESTMENTS, INC. , a Delaware `�`�P;.•''ri�Yc•.�y�- ;WITNESS my hand and official seal. i :.• v� '';� - TIY commission expires: AUGUST 5 1991 y Gf .�1�� j` : Notary �li --� 0 k.,IBIT- "A" on 574 PAGE852 ESCROW INSTRUCTIONS T11,13C" :;CROI' -UCTIONS are given th;._ _ ' dal cL April, 1988, by SAVANAII LIMITED PARTNERSIiIP, a District of Columbia limited partnership ( "Savanah "), to the Finance Department of the City of Aspen, Pitkin County, Colorado ( "Escrow Agent "), with reference to the following: RECITALS A. Savanah is the owner of Lots 1 through 5, inclusive, of the Aspen Mountain Subdivision and Planned Unit Development as shown and 11epicted -n the Final Plat thereof recorded in Plat Book 17 at Pages 99, et se q., and as defined and described in the Planned Unit Development /Subdivision Agreement - Aspen Mountain Subdivision recorded in Book 500 at Pages 656, et sec, ( "PUD Agreement "), all reference being to the Pitkin County, Colorado real property records. B. Paragraph 3 of the PUD Agreement obligates Savanah, in the present circumstances, to give financial- assurances to the City of Aspen in respect of the site and landscaping improvements described in Paragraphs B(1) and B(2) of the PUD Agreement. C. The City of Aspen has also requested of Savanah that it give financial assurances in respect of excavation work that it intends to begin upon Lot 1 of the PUD. D. The City Engineer of 'the City of Aspen, Colorado, has determined that due to the completion or partial completion of several of the site improvements described on the PUD Agreement, the cost to complete the remaining site and landscaping improvements is $1,228,000.0 (rather than the $1,700,000.00 specified in the PUD Agreement), and that the sum of $650,000.00 is reasonable security for Savanah's obligations of performance in respect of the excavation contemplated for Lot 1 of the PUD. NOW, TIIEREFORE, Savanah herewith deposits with Escrow Agent the sum of $1,878,000.00 (the "Escrow Fund "). With respect to the Escrow Fund, the parties hereby instruct Escrow Agent as follows: f um 574 PAGE853 1. The Escrow Agent shall, as soon as in the circumstances is practical, deposit the Escrow Fund in a separate interest bearing (money fund) account with Central Bank of Aspen, which account, such Bank has confirmed, shall be insured to the extent of FDIC limits and shall be backed by a pledge of that Bank's assets pursuant to the L:oioraao Public Deposits Law. 2. Savanah shall upon its written request, be entitled to be paid quarterly all interest that accrues on the Escrow Fund. 3. In the event of -a default in performance by Savanah under the terms of either Paragraph B(1) or B(2) of the PUD Agreement, or both of such paragraphs, the Escrow Agent shall make available to the City from the Escrow Fund such amounts, up to the sum of $1,228,000.00, as may be necessary to enable the City, itself or through third party contractors, to complete the obligations of performance contained in either Paragraph B(1) or B(2) of the PUD Agreement, or either of such paragraphs, in respect of which Savanah has defaulted. 4. In the event that Savanah shall cause excavation to occur on Lot 1 of the PUD after the date hereof and shall fail to commence the next contemplated phase of construction upon Lot 1 within the time contemplated by the City of Aspen Building and Zoning Regulations whereby the right so to com- mence the next phase of construction activity shall be lost, and shall fail, within 60 days of such loss, to refill, compact and seed any portion of Lot 1 excavated after the date hereof, Escrow Agent shall make available to City from the Escrow Fund an amount, up to the sum of $650,000.00, as may be necessary to enable the City, itself or through third party contractors, so to refill, compact and seed those portions of Lot 1 excavated after the date hereof, and shall disburse the balance of the Escrow Fund, together with any accrued undisbursed interest, to Savanah. 5. In the event that Savanah begins to construct foundations on Lot 1 of the PUD, and such fact shall appear to Escrow Agent by written advice from the City Engineer, Escrow Agent shall disburse to Savanah $650,000.00 of the Escrow Fund. 6. In the event that Savanah completes its obliga- tions under both Paragraphs B(1) and B(2) of the PUD Agreement, and such fact shall be made to appear to Escrow Agent by written advice from the City Engineer, the Escrow Fund, to- gether with any accrued undisbursed interest, shall by Escrow Agent be immediately disbursed to Savanah. -2- eou 574 PAGE854 7. At anytime that the City Engineer shall in writing advise Escrow Agent that a portion of the obligations on Savanah's part to be performed have been perofrmed and that a proportionate amount of the Escrow Fund should be disbursed to Savanah, Escrow Agent shall disburse to Savanah such amount as the City Engineer shall direct. 8. All notices sent under the terms of this Escrow Agreement shall be in writing, hand delivered to Escrow Agent at 130 S. Galena Street, Aspen, Colorado; to Savanah at 600 E. Cooper Avenue, Aspen, Colorado, with a copy to Robert W. Hughes, Esq., Oates, Hughes & Knezevich, P.C.,-533 E. Hopkins Avenue, Aspen, Colorado; and to the Aspen City Manager, 130•S. Galena Street, Aspen, Colorado 81611, with a copy to the Aspen City Attorney, 130 S. Galena Street, Aspen, Colorado 81611. 9. No amendment of this Escrow Agreement is binding on Escrow Agent unless such amendment is in writing signed by all parties hereto and deposited with the Escrow Agent. Should any dispute arise among the parties hereto or with any third .-parties or should Escrow Agent receive conflicting demands with reference to the Escrow Fund, the Escrow Agent may, at its option, but without limiting other rights, stop all proceedings in the performance of the Escrow Agreement and withhold deliv- ery of the Escrow Fund until such dispute or conflicting demands have been resolved and written proof thereof has been delivered to Escrow Agent, or Escrow Agent may file an inter - pleader suit in District Court, Pitkin County, Colorado. On the filing of an interpleader suit, the Escrow Agent shall be fully released and discharged from any obligations or liability in connection with the Escrow Fund. ..10. _The parties. agree to indemnify, pay and hold harmless Escrow Agent from all charges, damages, judgments, costs, expenses and reasonable legal fees expended or incurred by Escrow Agent in the performance of its duties hereunder. 11. The parties acknowledge that the Escrow Agent is a mere stakeholder and should not be required to perform any services or duties except the .safekeeping of money or other documents received by it and the disposition of the same in accordance with the written instructions of this Escrow Agree- ment. 12. The Escrow Agent shall not be liable for the lack of authority of any person to execute this Escrow Agree- ment, any notice required by this Escrow Agreement or any amendment to this Escrow'Agreement. The Escrow Agent shall not be liable for the failure of the parties to comply with these -3- 4F i eom, 574 PAGE855 instructions or any documents filed or referred to herein. The Escrow Agent shall not be liable for any inadvertent failure of the Escrow Agent to comply with these instructions or any agreement or document filed or' referred to herein, fraud perpetrated on ary pert;on in con.ie::tion with the Escrow Agree- ment, forgeries or impersonations occurring in connection with the Escrow Agreement. The Escrow Agent shall not be responsi- ble for the sufficiency, correctness or validity of any instru- ments deposited with the Escrow Agent. The Escrow Agent shall be liable only for its willful acts or any misconduct with respect to the Escrow Agreement. IN WITNESS WHEREOF, this Escrow Agreement has been made and entered into and these Instructions have-been given as of the 14th day of April, 1988. SA"'P.NAH LIMITED PARTNERSHIP, a District of Columbia limited partnership By: 1001, INC., a District of Columbia corporation, general partner By THESE ESCROW INSTRUCTIONS ARE ACCEPTED AND RECEIPT OF THE ESCROW FUND IS HEREBY ACKNOWLEDGED THIS 14Th DAY OF APRIL, 1988. rwh27.71 THE CITY OF ASPEN FINANCE DEPARTMENT . By Ass;sY-q„y— D.ireq 'or - -4- J ^X1IIBIT "II" on 574 PAGE z) Employee Generation [or Hotel Phase I, Galena Place, Summit Place and Replacement Housing 1. Lodge Operation Phase I New Lodge Rooms (264) 264 New 1 -BR Suites (26) 26 New 2 -BR Suites (2) 4 Total Bedrooms 294 Living Rooms @ 25% 7 Total Rooms 30 Employees per room .36 Employee generation 108.40 Existing Lodge Rooms 120 Employees per room 60$ Employee credit .20 —24.00 Net new employees 84.4 GMP employees housed 60% Employees to be Housed 50.6 2. Accessory Food & Beverage New restaurant sq. Et. (net) -- 4,500 New lounge sq.ft. (net) 3,700 New kitchen sq.ft. (net) 3,400 Subtotal 11,600 Employees per 1,000 sq.ft. 12.8 Employee generation — 48.5 - Existing F &B and Kitchen sq.ft. (net) 4,900 Employees per 1,000 sq.ft. 9.0 Employee credit 44.1 Net new employees 104.4 GMP employees housed 60$ Employees to be Housed 62.6 3. Accessory Retail Net retail sq.ft. 51770 Employees per 1,000 sq.ft. 3.5 Employee generation 20.2 Existing retail sq.ft. 700 Employees per 1,000 sq.ft. 3.5 Employee credit 2.5 Net new employees 17.7 GMP employees housed 60% Employees to be housed --18.6 e�nK 574 Pac,L857 Employee Generation for Hotel Phase I, Galena Place, Summit Place and Replacement Housing, Cont. 4. Non- Accessory Commercial GMP Phase I New retail 0 Employees per 1,000 sq.ft. Employee generation _ 5. Residential GMP (Lot 4) Population of unrestricted units 4 3 -DRs @ 3.0 /du (58 %) 12.0 Employees to be housed (42 %) 8.7 6. Employee Elousinq Replacement Employees to be housed 29.0 Summary of Employees to be Housed 1. Lodge Operations 50.6 2. Accessory Food & Beverage 62.6 3. Accessory Retail 10.6 4. Non- Accessory Commercial GMP 0.0 5. Residential GMP (Lot 4) 8.7 6. Replacement Housing 29.0 Total, Lot 1 , Lot 2, Lot 4 and Replacement 161.5 Employees to be Housed ,/-CXIIIBIT "C" F m( 574 PIIH858 DEDICATION OF REAL PROPERTY TO EMPLOYEE HOUSING RESTRICTIONS AND GUIDELINES (Rooms Within Grand Aspen Hotel) THIS DEDICATION is made and entered into as of the day of ,'1988, by Savanah Limited Partnership, a District of Columbia limited partnership ( "Owner ") , with reference to the following: W I T N E S S E T H: WHEREAS, Owner is the record owner of the following described real property situated in the City of Aspen, Pitkin County, Colorado, to wit: Rooms 184, 196, 197 and 198 within the Grand Aspen IIotel (the "Units ") situate on Lots M, N, 0, P, Q, R and S, Block 91, City and Townsite of Aspen, and Lots 1, 2 and 3, Block 1, Anthony Acres Subdivision (the foregoing described property also comprising a part of Lot 5 of the First Amended Plat of the Aspen Mountain Subdivision and Planned Unit Development as shown on the Plat thereof recorded in Book at Page of the Pitkin County, Colorado real property records) WIiEREAS, pursuant to the provisions of that certain First Amended and Restated Planned Unit Development /Subdivision Agreement -- Aspen Mountain Subdivision recorded in Book at Pages , et se q. ( "Amended PUD Agreement ") of the Pitkin County, Colorado real property records, Owner is required at this time, but effective upon the issuance of a certificate of occupancy for Hotel Phase I described in the Amended PUD Agreement, to dedicate the Units to specific employee housing restrictions and guidelines; and WHEREAS, Owner desires by this instrument to effect such dedication upon and with respect to„the Units, NOW, THEREFORE, for and in consideration of the execution and recording by the City of Aspen, Colorado, of the Amended PUD Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Owner hereby declares, covenants and agrees that when, but not before, a certificate of occupancy issues for Hotel Phase I more particularly described in the Amended PUD Agreement: OAiE(111X ;jrM 6 KNF7}}1FII PF: 1. Each of the Units shall be and hereby is restricted lhied Fl1143 f.-4 -pklm ulldlnp exclusively in terms of use and occupancy to the low income 111 Fa4 Id pYlm Mlurt Culkxadu 81611 employee housing use, occupancy and rental guidelines and s e �r14 PAGE859 qualifications that may, from time to time, be in effect, duly adopted, and regularly and uniformly applied by the City or its duly constituted employee housing designee. 2. Verification of employment and income levels for the individuals who occupy the Units shall be completed and filed with the City, or its employee housing designee, prior to and as a condition of the issuance of a Certificate of Occupancy for the Hotel proposed in the Amended PUD Agreement for con- struction on Lot 1 of the Aspen Mountain Subdivision and Planned Unit Development, and thereafter prior to and as a condition of each employee's occupancy of a Unit; 3. Employees of Owner or of the owner or operator of the Hotel proposed in the Amended PUL Agreement for construction on Lot 1 of the Aspen Mountain Subdivision and Planned Unit Development shall be given the first right to occupy the Units and, if so employed, shall be entitled to occupy the units notwithstanding that their individual income levels may exceed low income levels, provided that, in all events, they shall not be charged more than low income rent for such occupancy. 4. In all other respects, the Units shall not be occu- pied by other than Qualified Employees limited to those persons residing and employed in the City of Aspen or the County of Pitkin for a minimum average of 30 hours per week, nine months out of any 12 month period, who meet low income and occupancy eligibility requirements from time to time in effect, duly adopted and regularly and uniformly applied by the City of Aspen or duly constituted employee housing designee. 5. Nothing in this employee housing restriction con- tained shall preclude or interfere with or be construed as precluding or interfering with the right of Savanah, Hereby reserved, to demolish or with the demolition of the Grand Aspen Hotel pursuant to provision therefor made in the Amended PUD Agreement; provided that, at such time as the Grand Aspen Hotel is demolished, Savanah will substitute for the Units other comparable property acceptable to the City for this purpose and similarly burdened as employee housing; and, provided further that, whether or not the Grand Aspen Iiotel is by then demol- ished, at such time as Savanah or its successor shall construct the employee housing project known as "Ute City Place" then, from the time a certificate of occupancy issues therefor, the Units or any property substituting therefor, as above provided, shall from then and thereafter be relieved from the burden of this Employee Housing Restriction and the Ute City Place project shall stand in substitution thereof. 6. The dedication and covenants contained herein shall automatically upon the issuance of a certificate of occupancy for Hotel Phase I more particularly described in the Amended PUD Agreement, but not before, be deemed a burden upon and to -2- eae� 574 PAGE860 run with the title to the Units and the foregoing described real property, shall be binding upon the Owner and its succes- sors and assigns, and upon all other persons or entities having any right, title or interest in or to the Units or such proper- ty, or any part thereof, and shall inure to the benefit of and, be specifically enforceable by the City of Aspen or its duly constituted employee housing designee by any appropriate legal action, including injunction, abatement or eviction of non- complying tenancies, all for a period of fifty (50) years from the date of recording hereof in the Pitkin County, Colorado real property records, subject to the foregoing described reserved right of demolition. 7. Neither this dedication nor any of the covenants contained herein shall be modified, released or waived in any respect except by written instrument executed by both the Owner or his successors or assigns, and the City of Aspen, Colorado, and duly recorded in the Pitkin County, Colorado real property records. IN WITNESS WHEREOF, Owner has hereunto set its hand and seal as of the day and year first above written. OWNER: SAVANAH LIMITED PARTNERSHIP, a District of Columbia limited partnership By: 1001, Inc., a District of Columbia corporation By: STATE OF ) ss. COUNTY OF ) Subscribed and sworn to before me this day of 198 by as of 1001, Inc., general partner of Savanah Limited Partnership, a District of Columbia limited partnership. Witness my hand and official seal. My commission expires: (SEAL) :wh28.67a Notary Public Mll 0AIn InGIIMA KNFM1(II P.G Third Fkxx. Aqun Pbn Building 513 Fam 11opk1m ATM lbkKad) 81611 EXHIBIT I'D" 0 1 Pox 574 FAG-M1 DEDICATION OF REAL PROPERTY TO EMPLOYEE ROUSING RESTRIC'T'IONS AND GUIDELINES (Ute City Place) THIS DEDICATION is made and entered into as of the day of , 1988, by Savanah Limited Partnership, a District of Columbia limited partnership ( "Owner "), with reference to the following: W I T N E S S E T H: WHEREAS, Owner is the record owner of the following described real property situated in the City of Aspen, Pitkin County, Colorado, to wit: Lots C, D, E, F and G, Block 118, City and Townsite of Aspen ( "Property ") and WHEREAS, Owner has proposed or intends to propose for construction on the Property a twenty -two (22) unit condominium complex to be known as "Ute City Place" (herein so called) comprised of 6 studio units, 12 one - bedroom units, and 4 two - bedroom units, which units will house in the aggregate a total of 37 employees more particularly below described; and WHEREAS, pursuant to the provisions of that certain First Amended and Restated Planned Unit Development /Subdivision Agreement -- Aspen Mountain Subdivision recorded in Book at Pages , et seq. ( "Amended PUD Agreement ") of the Pit ik n County, Colorado real property records, Owner is required at this time, but effective upon the issuance of a certificate of occupamcy for hotel Phase I described in the Amended PUD Agreement, to dedicate the Property and the proposed Ute City Place to specific employee housing restrictions and guidelines; and WHEREAS, Owner desires by this instrument to effect such dedication upon and with respect to the Property and Ute City Place, NOW, THEREFORE,• for and in consideration of the execution and recording by the City of Aspen, Colorado, of the Amended PUD Agreement, and for other good and valuable consid- sration, the receipt and sufficiency of which are hereby Acknowledged, Owner hereby declares, covenants and agrees that vhen, but not before, a certificate of occupancy issues for iotel Phase I more particularly described in the Amended PUD agreement: 60 l I 574486? 6 1. When constructed, the entire Ute City Place, containing 22 condominium units comprised of 6 studio units, 12 one - bedroom units and 4 two - bedroom units, and housing a total of 37 employees, shall be and hereby is restricted exclusively in terms of use and occupancy to the moderate income employee housing use, occupancy and rental guidelines and qualifications that may, from time to time, be in effect, duly adopted, and regularly and uniformly applied by the City or its duly con- stituted employee housing designee. 2. Verification of employment and income levels for the individuals who occupy the units in Ute City.Place shall be completed and filed with the City, or its employee housing designee, prior to and as a condition of the issuance of a Certificate of Occupancy for the Hotel proposed in the Amended PUD Agreement for construction on Lot 1 of the Aspen Mountain Subdivision and Planned Unit Development, and thereafter prior to and as a condition of each employee's occupancy of a unit in the Ute City Place; 3. Employees of Owner or of the owner or operator of the hotel proposed in the Amended PUD Agreement for con- struction on Lot 1 of the Aspen Mountain Subdivision and Planned Unit Development shall be given the first right to occupy the units in Ute City Place and, if so employed, shall be entitled to occupy the units notwithstanding that their individual income levels may exceed moderate income levels, provided that, in.all events, they shall not be charged more than moderate income rent for such occupancy. 4. In all other respects, the units within Ute City Place shall not be occupied by other than Qualified Employees limited to those persons residing and employed in the City of Aspen or the County of Pitkin for a minimum average of 30 hours per week, nine months out of any 12 month period, who meet moderate income and occupancy eligibility requirements from time to time in effect, duly adopted and regularly and uni- formly applied by the City of Aspen or duly constituted em- ployee housing designee. 5. The dedication and covenants contained herein shall automatically upon the issuance of a certificate of occupancy for hotel Phase I more particularly described in the Amended PUD Agreement, but not before, be deemed a burden upon and to run with the title to the Property and the Ute City Place, shall be binding upon the Owner and its successors and assigns, and upon all other persons or entities having any right, title or interest in or to the Property and in or to Ute �ity Place, or any part thereof, and shall inure to the benefit )f and be specifically enforceable by the City of Aspen or its iuly constituted employee housing designee by any appropriate -2- (9- . BOOK 51� PacE863 legal action, including injunction, abatement or eviction of non - complying tenancies, all for a period of fifty (50) years from the date of recording hereof in the Pitkin County, Colorado real property records. 6. Neither this dedication nor any of the covenants contained herein shall be modified, released or waived in any respect except by written instrument executed by both the Owner or his successors or assigns, and the City of Aspen, Colorado, and duly recorded in the Pitkin County, Colorado real property records. IN WITNESS WHEREOF, Owner has hereunto set its hand and seal as,of the day and year .First above written. OWNER: SAVANAH LIMITED PARTNERSHIP, a District of Columbia limited partnership By: 1001, Inc., a District of Columbia corporation By: STATE OF COUNTY OF ) ss. Subscribed and sworn to before me this day of , 198_ by as of 1001, Inc., general partner of savanah Limited Partnership, a District of Columbia limited partnership. :wh28.67a Witness my hand and official seal. My commission expires: Notary u is -3- 6• iX 4 "E" . � 13", 5'74 P���864 m 5JJ I, -�78 SPECIAL WARILANTY DEED cow-IERf'F %SSOCIAT_IOU, whose street address is 111 Soledad, Suite 1350, San Antonio, TX 70040, for the consid- eration of Ten Dollars ($10.00) , in hand paid (and other good and valuable consideration), hereby sells and conveys to DoWu- HILL ASSOCIATES, I11C. ("Grantee") , whose street address is LB36-1, North Tower, Plaza of the Americas, Dallas, County of I Dallas, State of 'Yentas 75201, the following real property In the li County of Pitkin and State of Colorado, to wit-: ,.'.i DOCUME '1T,'• The easterly one-half (1/2) of Lot L and all j of Lot I11 Block 44, City and TownsiLe of I � 61 987 Aspen, Pitkin County, Colorado, IL (� also sometimes known and referred to as 320 $ y _' West Main Street, Aspen, Colorado with all its appurtenances and warrants the title to Elie same against all persons claiming under the said Conunerce !Ravings AssocJation subject to and except for general taxes for 1906 and thereafter and subject to the followings EMPLOYrE HOUSING RESTRICT1011 The property hereby conveyed shall be and remain employee housing within the meaning of and as cnntemplated by that certain Dedii:uLlon of Real Property to Employee Housing Restrictions and Guidelines dated December 2, 1905, a copy of which in hereto annexed as Exhibit A ( "Employee Housing Restric- tions") and the Planned Unit Developmei:t /Subdivision Agreement - Aspen Mountain Subdivision recorded in Book 500 at Page 656, et se q., of the Pitkin County, Colorado real property records, including any amendments thereto, modifications, extensions or substitutions thereof which do noL• modify any of Grantee's obligations hereunder (collectively the "PUD A(jreement "). In the event the Grantee Hereof, its successors or assigns, shall fail fully to abide with and by the Emolovee flousina Ilestrir_I -Inns a:irl Lhe PUD Agreement, insofar concerned, shall fail to cL provisions of Paragraph 1.1 c shall be determined by the determined by a court of c non - compliance with the Pt Restrictions, all as provic merit, then, subject to the Deed sl►all, from Lhen and absolutely null and void, conveyed shall iovo facto p if there be more than one equal undivided interests a as the property Hereby conveyed is re any such failure pursaant to the f the PUD Agreement and such failure ,ity Council of Aspen, and be finally )mpetenL jurisdiction to constit.,te D Agreement or Employee housing ed in Paragraph Pt of the PUD Agree - remaining provisions hereof, this ; hereaf Ler, autoinaticall'y be deemed and title to tho pirope' rty hereby iss to and vest in the then owner (or )caner, t'U) each And all of thrm in 3 L•enanLs In comnon) of Lots 1 and 5 9NTES HUGHE, & i S t .I KNEHVICH, TEL Ho . 60 BOOR 574 muE 5 P.114 Ij of the Aspen Mountain Subd? vision and Planned Unit Development as shown and described in the Plat thereof recorded in Book li at Page 99, et seq. , of the Pitk'_n County, Colorado real perty records', l thereto, nc udinq aDv amendments , prO- e�t_CtlSions or substitutions thereof. In such event n: 'and'l'..i at` isuc time, t}ie owners) of Lots 1 and 5 of the PUD s}ial i be entitlec to apply to the Pitkin County, Colorado Dist- Court for an appropriate order, decree or other instrument confirming the invalidity of this Deed and the passage of - to the hereby conveyed to such owner(s); propert event shall the Grantee's title revert provided, however, tsar in nc provi- sions hereof unless and until the Pursuant to the to satisfy the Employee Housing Restrictionseand v30o days ewritte, notice by the owner(s) of Lots 1 and 5 of the PUD or Commerce Savings Association is given to Grantee, which written notice may be given in advance of a final determination property hereby conveyed'faiis to satisfy the that the Employee Housing restrictions as provided in this deed restriction or if Grantee fails to respond to notice from the City 'Of preliminary time specified therein or as extend den orlifinotsuch time is specified, 30 days. Each occasion of claimed default shall require a separate notice. Commerce Savings Association,. its successors or assigns, shall have the right, but not the obligation, reasonably to cure time that the Grantee may be contesting any claim by thercit o0 Aspen that it has failed to keep and y f Housing Restrictions) any default on theerform the Employee under or the failure of the Grantee to kee r and the Grantee covenants and obligations on'its part to be kept perform the in the Employee Housing Restrictions, and stall t d performed Grantee, its successors and assigns, for its reasonable, neces- sary and direct expenses which Grantee, its successors and assigns, may contest, and for which no pre - judgment security may exist in the property hereby conveyed. Notwithstanding the foregoi.ny,*so long as the owent ner of Luts 1 and 5 of the PUD consents thereto and no impairm whatsoever to any development approvals now existing or subse- quently obtained for Lots 1 or 5 result, the owner or the ropert� of the PUD would thereby entitled, at its sole cost and exoe see to se k conveyed d btainbap- proval from the City of Aspen to substitute for the property hereby conveyed other employee housing property so long as any such substituted property is accepted as employee housing by the City of Aspen for all intents and put oses and 5 of the PUD are concerned, in the place,lstead and intlieu .of Elie property hereby conveyed. In the event t}�e PUD Agreement ceases to be of further force and effect, the provisions herein concerning the maintenance of the property hereby conveyed as employee housing and the divestiture of Grantee's title thereto shall, as well, cease to be of further force and effect on the date that is thirty -six months frv;n the date on which the PUD Agreement ceases to be of further force and effect unless daring QHTES H1Jf3HE: I:IIE�E'JICH� 1 Ii TEL 110 • ,:�I. ;�.:'! i 1. ' HhI' _ 1 r . li! :�! r ,�i: moK 5-74 PAGE866 such thirty -si,t month period a new PUD Agreement (with respect to Lots 1, 4 and 5 of the PUD) between the Cit; of aspen and the owner of Lots 1 and 5 of the PUD is entered into which contem- plates the property hereby conveyed as bei.n.n �m--� - • , . This Employee housing Restriction shall ru6-with the property hereby conveyed, shall be a burden thereupon, shall be binding upon Grantee, its grantees, successors and assigns, shall be a benefit to the City of Aspen, shall be a benefit to and run with Lots .land 5 of the PUD and shall be enforceable by the owner(s) thereof, its successors, grantees and assigns, all for the period contemplated by the Employee housing Restric- tions, but if such period is found to violate the Pule Against Perpetuities, for the period of the longest to live of the members of the present Aspen City Council and his or her now living descendants plus twenty --one years. Anything herein to the contrary notwithstanding, nothing herein shall prohibit, limit or invalidate conveyance or encumbrance upon the property hereby conveyed, including without' limitation liens and encumbrances created after the conveyance by Commerce; provided, however, that any such conveyance or encumbrance shall be expressly subject to the Employee 110a0ing Restrictions and to this deed restriction. But any reversion shall be subject to such liens, claims and encumbrances, although subordinate to this restriction. Signed this /0t day of Q- .��, 1987, 'COMMERCE SAVINGS ASSOCIATION By ACK►IOWLEDGE14 HEar - 84•.1 -e. ' • - - - - -- Iy►1°, STATE OF ) `� COUNTY OF ) 1•.•• Jim OR The foregoing instrument was acknowledged before me by i -1aN.j C. K,;.t,t as 921"JI.;.14,11ti' of COMMERCE SAVI11G3 ASSOCIATION, Lhis i6-rA day- o'F` ' 1987. witness my hard and official seal. ;;•'''�:�'Ny,�commission expires: ,•, ,_ 1 1 • . NOtarf Public Address: 8 1 MARCARET /UARY AOAW 401try NNW. Sim of To... • .1 1 rNFu2 ~ ,'II�INNN•1 N ••1 UNTE� IIIJGHE: F. KNE7EVICH • TEL NO eo jr; i 1!� -I F.ili • ,0et 574 F� GF867 DEDICATIONl OF RE�1L PROPERTy .' EHpLOYEE 110USIt1C F•`T`T'o�TIGi�y • _ GUIbELIIJES (COPPER 11ORSE LODCE)> THIS DEDICATION, made and entered into this ? / J 19 8 .t�' _�. day o f. .._., by John U. Robe ts, Jr. (hereinafter referred to as "Owner"), I1: ' WIIEREAS, Owner is the record owner of the followi desccribed improved real ng Property situated in the Cit Pitkin,County, Colorado to Nit: y Of Aspen, The Easterly one-half (1 /2) of Lot L and all 44, City and Townsitp of Asp, of Lot N. Rlocl-. Aspenr Colorado r referred to as 9the "Copper . Main Street, eCe Horse Lodge )t and inafter • WHEREAS, pursuant to the provisions of that certo Unit Development A in PIanned greement for Aspen Mountain Subdivision recorded in Book ` at a p 9e (52� of the pitkin County, Colorado real property 'records ► Owner is required at this time to dedicate said Copper Horse Lod • ge to specific employee housing restrictions and guide.l in -_s; and WHEREAS, Owner desires by this instrumen . t to effect such dedication upon and with respect to the Copper 110 NOW cse Lodge. ► TH EREF ORE, for and in consideration of the execution and recording by- the City of Aspen, Colorado of the 'a referenced p Bove -- • U. d. Agreement for Aspen Mountain Subdivision, alld EXHIBIT A TO .. _ ... .. _ _ _ . .._. vidvJGJ 1 Ir nTE'.31 HUGHE*3 KHEEEV I1 :H, TEL Ho -, P Ce.. .. _..® . Poog 574 PAUE868 for other good and valuable considerations, the''rviceipt and suf- ficiency of which ace hereby acknowledged, owner hereby covenants and agrees as follows: .• 1. The entire Copper Horse Lodge, containing fourteen (14) units comprised of one 1- person room, six 4- person rooms, four 3- person rooms and three 2- person rooms, shall be and hereby io restricted exclusively to use as rental only employee housing under and in accordance with such City c.: Anpen ar,+:oyee housing use, occupancy, and rental guidelines and qualifications as may be in effect and applicable from time to time, subject to the specific restriction that rentals for Copper florae Lodge units ! shall include all common utilities and shall no•t exceed twenty- five percent (251) of the employees' average monthly income or $200.00 per month per person, whichever is less. Provided always, that rental prices shall be indexed to the annually- adopted employee housing guidelines appc•oved•by the City. 2. In addition, the 1;ourteen. (14) units in the Copper Iforse Lodge shall be and hereby are restricted to a maximum occu- pancy of forty -three (43) employees, with first priority to be given at all times to employees of the hotel (s) or lodge(s) in operation from time to time on the lands encompassed by the above - referenced P.U.D. Agreement for Aspen Mountain Subdivision. Verification of an employee's income and employment -2- OATES HUGHES & KIIE--EVI,:H, TEL Ho . f eou 574 %1869 qualifications shall be accomplished by the City of Aspen or Un designee prior to and as a condition of each employee's occupancy . of a unit in the Copper Horse Lodge. J. The dedication and covenants contained herein shall be deemed a burden upon and to run with the title to the Copper Horse Lodge, shall be binding upon the Owner and his successors and assigns and upon all other persons or entities having any right, title or interest in or to the Copper Horse Lodge or any part thereof, and shall* inure,to the benefit of and be specifi- cally enforceable by the City of Aspen or its designee by any appropriate legal action including injunction, abatement or evic- tion of non - complying tenancies, all for a period of fifty (5o) years from the -date of recording hereof in the Pitkin County real property records. 4. Neither this dedication nor any of -the covenants contained herein shall be modified, released or waived in any respect except by written instrument executed by both.the Owner or his successors or assigns and the' City of Aspen, Colorado and duly recorded in the Pitkin County real property records. Ill WITf1ESS WHEREOF, the Owner has hereunto set his hand and seal as of the day and year first above written. -3- UH I t� ,I1UUHCi 6, ruit.:tvIl -H ILL rio . i i Hpr .:U :; .. r i s Boni, 574 'PA GE.870 IN WITNESS WIIEREOF, the Owner has hereunto set his hand and seal as of the day and year first above written. OWNER: X/f ) John' It. Roberts, Jr. STATE OF ) ss. COUNTY OF 7ic, ) . Th foregoing Dedication was acknowledged before me this day of r� +� )aLy' , 1985, by John II. Roberts, Jr. Witness my hand and official seal. Hy commission expires: 03 I a-9 i y Notar ub is XI)IBIT hhrhh 0 SPECIAL WARRANTY DEED 0 Bom 5-74 �ac�871 THIS DEED, made this 10th day of March _, 1988, between SAVANAII LIMITED PARTNERSHIP, whose address is 1300 N. 1701 Street, 11100, Rosslyn, VA 22209 ( "Grantor "), and Riscor Inc., -a Texas corporatio:h, w hose a dress is 200 Crescent Court, Suite 1385, Dallas, Texas 75201 ( "Grantee "); WITHESSETII, that the Grantor, for and in consideration of the sum of Ten Dollars and other good and valuable consideration paid to the s hid party of the first part, in hand paid by the Grantee, the receipt whereof is hereby confessed and acknow- ledged, has granted, bargained, sold, and conveyed and by these presents does grant, bargain, sell, convey, and confirm unto the said Grantee, its successors and assigns forever, all the follow- ing described lot or parcel of land, situated, lying, and being in the County of Pitkin and State of Colorado, to wit: That phrt of vacated Cleveland Street lying Wester:.y of and adjacent to Blcck 124, City and Townsite of Aspen, Colorado, described ass Beginning at a point which is the N{4 corner of Lot A, said Block 124, from whence Corner No. 2 of Aspen Townsite bears N. 81 031' E. 92.12 feet) thence N. 75 °09111" W. 75.32 feet; thence S. 14 °50'49" E. along the West side of Lot A, 110 feet to the point of beginning Pitkin County, Colorado, known as 935 East Durant Avenue, Aspen, Colorado. Together with all and singular the hereditaments and appurte- nances thereunto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and.profits thereof; and all the estate, right, title, interest, claim, and demand whatsoever of the Grantor, either in law or equity, of, in, and to the Property, with the heredita- ments and appurtenants (all the "Property "); TO HAVE AND TO HOLD the Property, with the appurtenances, unto Grantee, its succes- sors and assigns forever. And the said Savanah Limited Partnership, Grantor, for itself, its heirs, executors, and administrators, does covenant, grant, bargain, and agree to and witch the said Grantee, its successors and assigns, the Property in the quiet and peaceable Possession of Grantee, its successors and assigns, against all and every person or persons lawfully claiming or to claim the whole or any part thereof, by, through, or under the Grantor to WARRANT AND FOREVER DEFEND, except for general taxes for 1988 and thereafter and subject to the right of possession of any current- ly installed giant or committed to tenancy for a term (or terms) that does (or do) not extend beyond February 28, 1990, to the right of possession and occupancy of the Alpina Haus Lodge situate on the Property up to the time of issuance of the Certi- ficate of Occupancy below described, but in no event beyond sixty (60) months from the date hereof, reserved unto Grantor in and by that certain Lease Agreement entered into simultaneously with the delivery hereo", and to the following: EMPLOYEE HOUSING RESTRICTION At such time as a Certificate -of Occupancy issues for Hotel Phase I, as defined in the PUD Agreement below- described, but not before, the Property (including in all events the im- provements thereon or any replacements thereof) shall, from then and thereafter, automatically and i so facto be and remain employee housing within the meaning of, as contemplated by and according to the terms of that certain Dedication of Real Proper- ty to Employee Housing Restrictions and Guidelines dated December 2, 1985, a copy of whicl► is !hereto annexed as Exhibit A 2 O BOOK 6PAGE87? ( "Employee dousing Restrictions ") and the Planned Unit Develop - ment / Subdivision Agreement - Aspen Mountain Subdivision recorded in Book 500 at Page 656, et seq., of the Pitkin County, Colorado, real property records, including any amendments thereto, modifi- cations, extensions, or substitutions thereof which do not modify any of Grantee's rights and obligations hereunder (collectively the "PUD Agreement ") . In the event Grantee, its successors or assigns, (i) shall fail fully to abide with and by the Employee (lousing Restrictions and the PUD Agreement, insofar as the Property is concerned, or (Ii) shall fail to maintain the Proper- ty as employee Housing within the meaning and according to the terms of and for the period of time expressly provided in the Employee (lousing Restrictions and PUD Agreement (including Herein the obligation to replace or restore any portion of the improve- ments on the Property lost or damaged by fire or other casualty, whether occurring before or after issuance of a Certificate of Occupancy for Hotel Phase I), or (iii) shall do, cause to be done, or fail to do anything with respect to the Property that results in a determination by the City of Aspen of substantial non - compliance with the Employee Housing Restrictions or the PUD Agreement as such determination shall have been made in accor- dance with the provisions of Paragraph M of the PUD Agreement, either Grantor, or, as the case may be, its successor(s), grantee(s) or assigns) to Lot 1 of the Aspen Mountain Subdivi- sion and Planned Unit Development (tile "Lot 1 Owner ") as shown on the plat thereof recorded in Plat Book 17 at Pages 99 et seq. of the Pitkin County, Colorado real property records, or on any successor plat thereto ( "Lot 1 of the PUD "), shall have the right, but not the obligation, to cure (including during any period of time that the Grantee may be contesting any claim by the City of Aspen that it has failed to do the things described in any or all of (i)- (iii), above, any such failure or remedy any circumstance that resulted in such determination, in which event Grantee, or the then owner of the Property shall be bound to and shall on demand reimburse the party incurring them for all its costs and expenses reasonably and necessarily incurred in connec- tion with any such cure or remedying, together with Interest thereon at the per annum rate of 189 if reimbursement is not made within thirty days of demand therefor accompanied by evidence of expenses incurred. Such obligation to reimburse shall be secured by a lien upon the Property, which lien shall be superior to all other liens and encumbrances hereafter recorded except only for the lien of general taxes, to the lien of any deed of trust securing an obligation of up to but not in excess of ;260,000.00, unless any amount secured by such deed of trust in excess of ;260,000.00 represents the cost of direct improvements, including upgrading of existing improvements, actually incorporated into the Property (tile "Superior Encumbrance Rights "). The lien securing the obligation to reimburse may be foreclosed in the same manner as any mortgage on real property. In any proceedings commenced to enforce the obligation to reimburse, whether through lieu foreclosure, an action on the debt, or otherwise, the party entitled to reimbursement (i.e., Grantor, its successors or assigns or the owner of Lot 1 of the PUD) shall be entitled to Its costs and reasonable attorneys' fees as .a part of any judg- ment made. In the event Grantee or the then owner of the Prop- erty successfucly and finally challenges any determination or claim mnde by the City of Aspen of substantial non - compliance "Poll which the claiming Lot 1 owner received reimbursement, all as above provided, the party that received the reimbursement shall, upon demand, refund the same to the party that made the reimbursement, together with interest at the per annum rate of 189 if such refund is not made within thirty days of demand, and a successful pe.rty in litigation to enforce this provision shall be entitled to Its costs and reasonable attorneys' fees as a part of any judgment made. So long as no impairment whatsoever to any development approvals now existing or subsequently obtained for Lot 1 of the PUD would thereby result, the owner of the Property shall be entitled, at its sole cost and expense, to seek and obtain approval from the City of Aspen to modify the Employee Housing -2- ti1 I -"s y ' f 44 cr h C 1 (0 e 574 PAGE873 Restrictions, tills Employee (lousing Restriction, or substitute for the Property other employee housing property so long as any such substituted property is accepted as employee housing by the City of Aspen, for purposes of any development approvals applic- able to Lot 1 of the PUD now existing or subsequently obtained, It, the place, stead and in lieu of the Property. In the event the PUD Agreement ceases to be of further force and effect, this Employee Housing Restriction and the application of the Employee liousing Restrictions shall, as well, cease to be of further force and effect on the date that is 36 months from ti►e date o►► which the PUD Agreement ceases to be of further force and effect unless during such 36 -month period a new PUD Agreement (with respect to Lot 1 of the PUD) betwer�► fA City of Aspen and the Lot 1 Owner is entered into which the Property U bei.q employee housings provided, however, that for the period only between the time the PUD Agreement ceases to be of further force and effect and the time anv such new PUD agreement with respect to Lot 1 of t-he PUD is entered nto, the Employee Housing Restrictions and this Employee Housing Restriction shall be suspended and shall not be applicable to tl►e Property. The pr) visions of the Employee Housing Restrictions nn contained herein shall run with the Property, shall be a burden or% s4�1�} thereupon, shall be binding upon Grantee, its grantees, succes- sors and assigns, shall be a benefit to the City of Aspen, and shall be enforceable thereby, sliall be a benefit to and run with Lot 1 of the PUD and shall be enforceable by the owner(s) there- of, its successors, grantees and assigns, for the period express- ly provided in the Employee Housing Restrictions, but if such period is foun9 to violate the Rule Against Perpetuities, for the period of ti►e longest to live of the members of the present Aspen City Council and his or her now living descendants plus twenty - one years. Anything herein to ti►e contrary notwithstanding, nothing herein shall prohibit, limit, or invalidate conveyance or encum- brance upon the Property, including without limitation liens and encumbrances created after the conveyance by Savanahr provided, however, that any such conveyance or encumbrance except the Superior Encumbrance Rights shall be expressly subject to tills deed restriction. While any encumbrance placed upon the Property by reason of or subsequent to this Deed shall be subject to tl►e foregoing Employee Housing Restriction, nothing herein shall otherwise affect the validity and enforceability of any such encumbrance. IN WITNESS WHEREOF, the said party of the first part has hereunto net his hand and seal the day and year first above written. Signed, Sealed and Delivered) in the presence ofs ) ) STATE OF &"M,6 O ] ! COUNTY OF 7� ) es. rxi Savana F. L tte Fartners ► p Byt �OOV Inc., (;enera), Partner (SEAL) tap► Ila , Pres cTent [SEAL) Y� The foregoing instrument was acknowledged before me this day of _NV, 1988, by Mohamed A. Hadid, President of 1001, Inc., General Partner of Savanah Limited Pa "nership. Witness my hand and of se�j1, My commission expires:.•33 r+ tary PVbli11" 1.97 ddresstj �J E. -3- e�nK 574 p,uE874 DEDICATION OF REAL PROPERTY TO EMPLOYEE HOUSING RESTRICTIONS AND GUIDELI "F^. (ALPINA HA US DGE) / THIS-DEDICATION, made and entered into this ?'= day of 198..:L, by John H. Roberts, Jr. (hereinafter referred to as "Owner"), •• W I T ^N E S S E T H: WHEREAS, Owner is the record owner of the follow' — '_ desccribed improved real property situated in the City of Aspen, Pitkin County, Colorado, to wit: That part of vacated Cleveland Street lying adjacent to Block 124, City and Townsiteof AspenrlColorado described as: Beginning at a point which is the NW corner of Lot A, said Block 124, from whence Corner No. 2 of Aspen Townsite bears N. 81 °31' E. 92.12 feet; thence N. 75 °09'11" W. 75.32 feet; thence S. 14 °50'49" W. 110 feet; thence S. 75 009'11" E. 75.32 feet; thence N. 14 050'49" E. along the '.'.� West side of Lot A, 110 feet to the point of beginning, known as 935 E. Durant Avenue, Aspen, Colorado (hereinafter referred to as the "Alpina Haus Lodge"); and WHEREAS pursuant to the provisions of that certain Planned Unit Development Agreement for Aspen Mountain Subdivision recorded in Book oo at page 4.r,6of the Pitkin County, Colorado real property records, Owner is required at this time to dedicate said Alpina Haus Lodge to specific employee housing restrictions ,1 and guidelines; and WHEREAS, Owner desires by this instrument to effect such dedication upon and with respect to the Alpina Haus Lodge. EXHIBIT A Special Warranty Deed Savanah Limited, Grantor Riscor, Inc. Grantee Bou 574 PASE875) NOW, THEREFORE, for and in consideration of the execution recording by the City of Aspen, CCloradu ui Li;E duove- referenced P.U.D. Agreement for 'Aspen Mountain Subdivision, and for other good and valuable considerations, the receipt and suf- ficiency of which are hereby acknowledged, Owner hereby covenants and agrees as follows: 1. The entire Alpina Haus Lodge, containing forty -three (43) units comprised of 40 single rooms, 2 studio apartments a!!d 1 dorm apartment, shall be and hereby is restricted exclusively to use as rental only employee housing under and in accordance with such City of Aspen employee housing" use,i occupancy and rental guidelines and qualifications as -may be in effect and applicable from time to time, subject to the specific restriction .� that rentals for Alpina Haus Lodge units shallrinclude all common Utilities and shall not exceed twenty -five percent (25$) of the • ,: employees' average monthly income or $250.00 per month per per- son, whichever is less. Provided always, that rental prices shall be indexed to the annually adopted employee housing guidelines approved by the City. 2. In addition, the forty -three (43) units in the Alpina Haus Lodge shall be and hereby are restricted to a maximum occu- pancy of forty -six (46) employees, with first priority to be ~ ...: given at all times to employees of the hotel(s) or lodge(s) in ME (41 Bon 5.74 Par, 876 operation from time to time on the lands encompassed by the above - referenced P.U.D. Agreement for Aspen Mountain Subdivision. Verification of an employee's income and employment qualifica- tions shall be accomplished by the City of Aspen or its designee prior to and as a condition of each employee's occupancy of a unit in the Alpina Haus Lodge. 3. The dedication and covenants contained herein shall be•• deemed a burden upon and to run with the title to the Alpina Haus Lodge, shall be binding upon the Owner and his successors and assigns and upon all other persons or entities having any right, title or interest in or to' the Alpina Haus Lodge or any part • thereof, and shall inure to the benefit of and be specifically enforceable by the City of Aspen or its designee by any appropri- ate legal action including injunction, abatement or eviction of non- complying tenancies, all for a period of fifty (50) years from the date of recording hereof in the Pitkin County real prop- . erty records. , 4. Neither this dedication nor any of the covenants contained herein shall be modified, released or waived in any respect except by written instrument executed by both the Owner or his successors or assigns and the City of Aspen, Coi-orado and duly recorded in the Pitkin County real property. records. -3- eons 574 PAUE877 IN WITNESS WHEREOF, the Owner has hereunto set his hand and y seal as of the day and year first above written. OWNER: Jvhrr H. Roberts, Jc . STATE OF ) COUNTY OF ) ss . Th foregoing Dedication war rcknowledgcd before me this day of 1985, by John H. Roberts, Jr. Witness my hand and official seal. My commission expires: 03 Ia91 a No tar •- _ � ��. .,,� - y ub is —4— t• 4IBIT "G" ecru 5 74 WE 8'78 b. By review the Housing Authority may vary from the adopted generation guidelines if an applicant clearly demonstrates to the housing Authority that the genera- tion guidelines are not applicable to their proposal. The generation guidelines will be adhered to initially, however the applicant has the opportunity to submit to the housing Authority after two years of full operation an audited accounting of employees. The audit shall be performed by a third party auditor mutually agreed upon by the housing Authority and the applicant. If at that time the applicant does not generate the employ- ees as calculated by the housing Authority's generation guide lines the applicant would be credited for the difference and allowed to use the credits on another project or may sell the credit to other applicants in accordance with the Employee Guidelines then in effect. C. For purposes of calculating employee generation a full time employee equivalent (FTE) is a person who is paid annually on a basis of 2080 hours per year (173.33 hrs. /mon. X's 12 months). d. Aspen Code only - Affordable housing may be provided on the same site or on an alternate site as-the proposed development, provided that credit shall only be given for dwelling units located within the City of Aspen or the Aspen Metro Area, as this area is currently defined by the Aspen /Pitkin County Growth Management Policy Plan. Applicants proposing to provide employee housing on an alternative site shall be required to demonstrate its feasibility through demonstrating that they have an interest in the property or dwelling units, and by specifying the size and type of units to be provided and any physical upgrades to be accomplished. e. Should a proposed development cause the displacement of housing units which are currently deed restricted to employee housing guidelines, then the applicant shall only receive credit for housing for the net number of employees to be housed by the proposed development, reflecting the number to be housed in the new units minus those housed in the existing units, rather than for housing the gross number of employees housed in the new units. f. The deed restrictions created to obtain credit for deed restricted housing may be amended by agreement between the property owner and the City council upon the review of the Housing Authority. 2 �o Eom 574 fiIGE880 CONDITIONS: a. Upon demonstration by an applicant that he can and will provide employee housing to the extent to which the demand for low and moderately priced housing would be increased by the proposed development, the minimum square foot stipulation may be waived with approval after special review of the Housing Authority. b. Should an applicant propose a unit which is larger than provided for by the guideline, then its rental or sales price shall not be greater than that allowable had the housing unit complied with the applicable size limitations. C. SQUARE FOOT SALES PRICE - SALE UNITS Allowable sales price per square foot for the sale units is described in Table III. SALE PRICE PER April TYPE LOW MODERATE . MIDDLE CONDITIONS: TABLE III SQUARE FOOT AND LOT PRICE 1988 to April 1989 PRICE/ _S .F. LT $67.00 N/A $93.00 $20,000 $118.00 $25,000 a. Middle income sale units will not be considered for GMP points. b. Square foot price is calculated on net square feet of living area, as defined in the glossary. C. Sale prices will be rounded to nearest $100. The average income in each category for each size unit will be used to determine affordability. d. All sale units will be offered through the Housing Authority to all qualified persons under procedures es- tablished by the Itousing Authority of the City of Aspen and Pitkin County. e. In the event employee units associated with a lodge, commercial or residential development are employer owned, persons employed directly by the owners shall be given first priority. In the event there are no persons directly employed by the owner who qualify or are available, the unit shall then be offered to other qualified senior residents, employees, music students or academic personnel according tained to limitations con- in these guidelines. Commercial or lodge il BO 574 mGcL881 developments shall not be restricted to Housing employees of their own business, but shall also be permitted to house qualified employees of the community at large. It is anticipated that proposed housing units will be required to be restricted to the low income price and occupancy guidelines. Provided, however, that at the time the applicant requests growth management exemption pursuant to the appropriate City or County Code, Housing Authority review of the current community need. for housing, evaluation of the affor- dability of the units to employees and establishment of the appropriate price and occupancy category to which the units should be restricted. f. All units offered for sale must be fully constructed and ready for occupancy (i.e. appliances, floor covering, etc.). g. When existing units are purchased to meet the employee obligation, a level of upgrade must be approved by the Housing Authority equal to the standards established as follows: 1. A unit must be freshly painted; all appliances must be in good working order; new carpeting will be provided (unless carpet has been purchased in last three years and is in good condition); exterior shall be painted; and a general level of upgrade to yards, windows, heating, plumbing, and electrical shall meet UBC standards and shall be approved by the Iiousing Authority. 2. Applicant shall provide documentation acceptable to the Housing Authority showing ownership or other agreement granting written permission from the record owner to submit the proposed project to be converted. h. All employee housing units constructed and operated as 100% employee housing without any associated free market or commercial development, may be exempt from the housing price guidelines, if approved by the City Council or the BOCC, and shall be controlled by separate agreement with the Iiousing Authority. i. All lots must be fully developed and ready for con- struction, i.e., improved lots with water or well, sewer or septic, roads, telephone and electrical in place. 5 ecu 574 MGM? D. SQUARE FOOT RENTS - RENTAL UNITS The allowable rental price per square foot is described in the following table: TYPE LOW MODERATE MIDDLE CONDITIONS: 9• . TABLE IV RENTAL PRICE PER SQUARE FOOT April 1988 to April 1989 PRICE $ .60 $ .85. $1.17 a. Square foot allowance is calculated on net square feet of livable area, as defined in the glossary. b. Rental rates shall not be increased for furnished units. c. Middle income rental units will not be considered for GMP points. d. Rental rates shall include utilities metered in common, condo dues, management costs and taxes. e. Occupants of deed restricted rental units must be qualified prior to occupancy by the Housing Authority. f. In the event employee units associated with a lodge, commercial or residential development are employer owned, persons employed directly by the owners shall be given first priority. In the event there are no persons directly employed by the owner who qualify or are available, the unit shall then be offered to other qualified senior residents, employees, music students or academic personnel according to limitations con- tained in these guidelines. Commercial or lodge developments shall not be restricted to housing employees of their own business, but shall also be permitted to house qualified employees of the community at large. It is anticipated that the proposed housing units will be required to be restricted to the low income price and occupancy guidelines. Provided, however, at the time the applicant requests growth management exemption pursuant to the appropriate City or County Code, Housing Authority review of the current community need for housing, evaluation of the affordability of the units to employees and establish- ment of the appropriate price and occupancy category to which the units should be restricted. All rental units must be fully constructed and ready for occupancy (i.e. appliances etc.). , floor covering N. ���3 E. REQUIREMENTS FOR DORMITORY /LODGE 574 P�G By review of the Housing Authority an applicant may satisfy the employee housing requirements by the construction of dormitory /lodge units. The dormitory /lodge shall be con - sistent with the following standards and shall meet the ap- propriate housing Authority standards and the appropriate City or County Land Use Code and the Uniform Building Code. CONDITIONS: Dormitory /Lodge units shall be required to meet the following minimum standards: a. There shall be an average of 150/300 square feet per person of net living area including sleeping, bathroom, cooking, and lounge used in common. Non- living areas including interior or exterior hallways, parking, patios, decks, laundry rooms, storage and mechanical areas shall be provided but not counted in the net living area. Dormitory /lodge rents shall be calcu- lated on the net average square feet of living area as defined above. Rental rates shall include all utilit- ies metered in common, management costs and taxes. b. One bathroom shared by no more than four persons, containing at least one water closet, one lavatory, one bathtub with a shower,.and a total area of at least 60 square feet. C. A kitchen facility containing a sink, stove and refri- gerator and shared by no more than four persons and a total area of at least 60 square feet or access to a common kitchen. d. Use of 20 square feet per person of enclosed stor- age area located within or adjacent to the unit. e. All units shall comply with UDC standards. f. An existing dormitory /lodge employee unit may be approved if smaller than the 150/300 sq. ft. if it can be demonstrated by the developer that the unit warrants special consideration i.e. other amenities not usually associated with dormitory. g• A manager or assistant manager who is in the moderate income range may occupy the unit. however, rent will be calculated based on the low income guidelines. h. Lodge owners may be housed in dormitory lodge units if their income is in the moderate income range and if they work full -time for the lodge operation. rA F. (11-0 . % PAYMENT IN LIEU A applicant for a housing requirement 11.10(1) or Pitkin (as applicable) thz below: sou 574 P4GE884 development may satisfy the employee of City of Aspen Code Section 24- County Land Use Code, Section 5 -300, 'ough a payment -in -lieu fee as stated Acceptance of the payment -in -lieu option shall be at the sole discretion of the City Council or County Commissioners based on recommendation by the Housing Authority. The Housing Authority will evaluate an applicant's payment -in- lieu proposal based on the following criteria: 1. Whether the housing Master plan is furthered by the payment. 2. Whether the applicant's site is appropriate for employee housing. 3. Whether the applicant's site is well suited for the development of affordable housing, taking into account the availability of services, proximity to employment opportunities and whether the site contains environ mental constraints to development. 4• Whether the method of payment proposed will result in employee housing being produced prior to or at the time the impacts of the development will be experienced by the community. 5. Whether the development itself requires the provision of affordable housing on site to meet its service needs. 6. Whether the size of the development is such that production of housing by the applicant is not feasible or the monies to be paid are so significant that it is not likely the City could produce affordable housing because of the magnitude of the project it would be required to develop. r I rl I i i I min inwamsa IWF7} ulipc lhlyd fk■x. Mpen Mara Bu1101n8 111 ram Ihyklm &'pen, lbbeado 81611 Ce ( - E:CIIIBIT "[i" BQBr; 57n ^���SS� ESCROW INSTRUCTIONS TIiESE ESCROW INSTRUCTIONS are made and entered into as of the day of _ , 19--, by and between SAVANAII LIMITED PARTNERSIIIP, a District of Columbia limited partnership ( "Savanah "), and THE CITY OF ASPEN, a Colorado municipal corporation ( "City "), and are given to the FINANCE DEPARTMENT OF THE CITY OF ASPEN, Pitkin County, Colorado ( "Escrow Agent ") with reference to the following: RECITAL Savanah and the City have entered into that certain First Amended and Restated Planned Unit Development /Subdivision Agreement - Aspen Mountain Subdivision dated 1988, and recorded in Book at Pages of the Pit in County, Colorado real property records ( "Amended PUD Agree- ment"), Section Ii, paragraph 10 of which obligates Savanah to fund an escrow account in the amount of $250,000.00 for use by the City. in defraying the cost of engineering studies, infra- structure improvements, acquisition of rights -of -way or other matters determined by the City in the exercise of its good faith discretion to better promote and implement a comprehen- sive unified drainage plan and system for Aspen Mountain. NOW, THEREFORE, in order to implement the provisions of paragraph 10 of Section II of the Amended PUD Agreement and in full and complete satisfaction and discharge of the obliga- tion of Savanah thereunder, Savanah herewith deposits with Escrow Agent the sum of $250,000.00 (the "Escrow Fund "). With respect to the Escrow Fund, the parties hereby instruct Escrow Agent as follows: 1. The Escrow Agent shall, as soon as in the circumstances is practical, deposit the Escrow Fund in a separate interest - bearing (money fund) account with Central Bank of Aspen, which account, such Bank has confirmed, shall be insured to the extent of FDIC limits and shall be backed by a pledge of that Bank's assets pursuant to the Colorado Public Deposits Law. 2. Savanah shall, upon its written request, be entitled to be paid quarterly all interest that accrues on the Escrow Fund. 3. The City, at any time up to , 19 and from time to time, shall have the right to draw upon tfie Escrow Fund in order to defray the costs of engineering Studies, infrastructure improvements, acquisition of rights -of- (0- c� P ane 514 ?4GCr8o"o way or other matters determined by the City in the exercise of its good faith discretion to better promote and implement a comprehensive unified drainage plan and system for Aspen Mountain. The Escrow Agent shall, however, honor no draw request of the City in this respect unless: (i) such draw request is in writing specify- ing the nature of the expenditure to be paid by the City from the Escrow Fund; (ii) Escrow Agent has determined and City has produced for Escrow Agent sufficient. proof that Savanah has been given ten (10) days' prior written notice of the intention by the City to draw upon the Escrow Fund for the reasons expressed in the draw request of the City; and (iii) such ten -day period has fully lapsed and Escrow Agent has received no objection from Savanah to the honoring of the draw request for the City by Escrow Agent. In the event Escrow Agent receives from Savanah a written objection to the draw request of the City within the ten -day period next succeeding its receipt of notice of the intention of the City to draw upon the Escrow Fund, the Escrow Agent shall not honor tl}e draw request of the City but, instead, shall refer the matter to the Aspen City Council for hearing to determine whether or not the expenditure proposed in the draw request of the City is or is not reasonably related to the promotion and implementation of a comprehensive unified drain- age plan and system for Aspen Mountain. If the City Council sustains the objection of Savanah, in whole or in part, the Escrow Agent shall not honor the draw request of the City Engineer, or so much thereof as was objected to. If the City Council overrules, in whole or in part, the objection of Savanah, Escrow Agent shall honor the draw request of the City or, as the case may be, so much thereof as is not within the scope of an objection sustained. 4. In the event there remains any sums within the Escrow Fund on , 19 , the amount so remaining in the Escrow Fund shall thereupon be forthwith paid by Escrow %gent to Savanah and the escrow hereby created shall, from then ind thereafter, cease to exist and Escrow Agent shall be relieved from all further obligations of performance hereunder. 5. All notices under the terms of this Escrow ►greement shall be in writing, Band delivered to Escrow Agent it 130 S. Galena Street, Aspen, Colorado; to Savanah c/o Hadid aspen holdings, Inc., 600.E. Cooper Avenue, Aspen, Colorado, -2- t � 574 FAGE887 with a copy to Robert W. Hughes, Esq., Oates, Hughes & Knezevich, P.C., 533 E. Hopkins Avenue, Aspen, Colorado; and to the Aspen City Manager, 130 S. Galena Street, Aspen, Colorado 81611, with a copy to the Aspen City Attorney, 130 S. Galena Street, Aspen, Colorado 81611. 6. No amendment of this Escrow Agreement is binding on Escrow Agent unless such amendment is in writing signed by all parties hereto and deposited with the Escrow Agent. Should any dispute arise among the parties hereto or with any third parties or should Escrow Agent receive conflicting demands with reference to the Escrow Fund, the Escrow Agent .may, at its option, but without limiting other rights, stop all proceedings in the performance of the Escrov Agreement and withhold deliv- ery of the Escrow. Fund until such dispute or conflicting demands have been resolved and written proof thereof has been delivered to Escrow Agent, or Escrow Agent may file an inter - pleader suit ii) District Court, Pitkin County, Colorado. Oil the filing of an interpleader suit, the Escrow Agent shall be fully released and discharged from any obligations or liability in connection with the Escrow Fund. 7. The parties agree to indemnify, pay and hold harmless Escrow Agent from all charges, damages, judgments, costs, expenses and reasonable legal fees expended or incurred by Escrow Agent in the performance of its duties hereunder. B. The parties acknowledge that the Escrow Agent is a mere stakeholder and should not be required to perform any services or duties except the safekeeping of money or other documents received by it and the disposition of the same in accordance with the written instructions of this Escrow Agree- ment. 9. The Escrow Agent shall not be liable for the lack of authority of any person to execute this Escrow Agree- ment, any notice required by this Escrow Agreement or any amendment to this Escrow Agreement. The Escrow Agent shall not be liable for the failure of the parties to comply with these instructions or any documents filed or referred to herein. The Escrow Agent shall not be liable for any inadvertent failure of the Escrow Agent to comply with these instructions or any agreement or document filed or referred to Herein, fraud perpetrated on any person in connection with the Escrow Agree- ment, forgeries or impersonations occurring in connection with the Escrow Agreement. The Escrow Agent shall not be responsi- ble for the sufficiency, correctness or validity of any instru- ments deposited with the Escrow Agent. The Escrow Agent shall De liable only for its willful acts or any misconduct with respect to the Escrow Agreement. -3- Ce (0- Ppnx 514 IN WITNESS WHEREOF, this .Escrow Agreement has been made and entered into and these Instructions have been given as of the day of , 19 ATTEST: City Clerk SAVANAII LIMITED PARTNERSHIP, a District of Columbia limited partnership By: 1001, INC., a District of Columbia corporation, general partner By THE CITY OF ASPEN LE Mayor THESE ESCROW INSTRUCTIONS ARE ACCEPTED AND RECEIPT OF THE ESCROW FUND IS IIEREBY ACKNOWLEDGED THIS DAY OF 19 ' THE CITY OF ASPEN FINANCE DEPARTMENT rwh29.12 Director -4- ASPEN*PITKIN rXIIIBIT "I" EN 4NMENTAL HEALTH DEP IDMENT Box 574 Paa889 MEMORANDUM To: Alan Richman, Director Planning Office From: Thomas S. Dunlop, Director ��Q Environmental Ilealth Department Date: February 18, 1988 Re: The Ritz - Carlton Aspen GMP and PUD Amendments Parcel ID# 2737 - 182 -00- 001 -004 2737 - 182 -91- 001 -004 i DM s t B The Aspen /Pitkin Environmental Health Department has reviewed the above - mentioned land use submittal for the following concerns. The authority for this review is granted to this office, which is a recognized land use referral agency, by the Aspen /Pitkin Planning Office. SEWAGE TREATMENT AND COLLECTION: The applicant has agreed to serve the project with public sewer as provided by the Aspen Consolidated Sanitation Districts. This is in conformance with Section 1 -2.3 of the Pitkin County Regulations On Individual Sewage Disposal Systems policy section to "require the use of public sewer systems wherever and whenever feasible, and to limit the installation of individual sewage disposal systems only to areas that are not feasible for public sewers" ADEQUATE PROVISIONS FOR WATER NEEDS: The applicant has agreed to serve the project with water provided by the Aspen Water Department distribution. system. This conforms with Section 23 -55 of the Aspen Municipal Code requiring such projects "which use water shall be connected to the munici- pal water utility system ". AIR QUALITY• Woodburning Devices: The applicant has specified one fireplace in the lobby /lounge area of the hotel. No'other woodburning devices are shown on the plan. City of Aspen Ordinance 86 -5 dealing with woodburning will allow the project one woodburning fireplace and one certified woodburning stove in the hotel building. With the identified number of devices noted the project is in compliance with the ordinance. 130 South Galena Street Aspen, Colorado 81611 303/925 -2020 ASPEN *PITKIN ENV &NMENTAL HEALTH OEP<SMENT Pon►{ 574 ME 890 Ritz - Carlton, GMP /PUD February 18, 1988 Page 2 There is a strong possibility, due to changing air pollution control laws, that within 3 -4 years gas log installations may be required in fireplaces that previously burned wood. It may be to the advantage of the applicant to install a natural gas line to the area of the fireplace for ease in a possible future con- version. Restaurant Grills: There are four different dining formats described in the submittal. A cafe, grill, specialty restaurant and a small private dining room are defined. City of Aspen Ordinance 83 -12 will apply to the type and controls necessary on the use of charbroiler type cooking surfaces that may be installed in the facilities. Indoor Smoking Control: City of Aspen Ordinance 85 -35 known as the Clean Indoor Air Act will apply in designation of smoking and nonsmoking areas of the hotel. _ Construction: p�M The applicant shall apply to the Colorado Health Department; Air Pollution Control Division for an emission permit and fugitive dust control plan to address air impacts associated with construction activities. The fugitive dust control plan can be filed with this office for local review and approval. Should the Colorado health Department review the emission permit application and determine no permit is necessary, the filing fee will be refunded. The requirements for this request can be found in Regulations 1 and 3 of the Colorado Air Quality Control Regula- tions and Ambient Air Quality Standards. Application forms can be picked up at this office for filing with the State and.County. An example of basic inclusions in the fugitive dust control plan will be; removal of all dirt and mud carryout that is deposited on City streets in a manner approved by this office and control of windblown dust that will be transported off the property boundary by use of water or dust suppression chemicals. General: Care shall be taken to design an adequate air handling system that will remove air contaminants generated by vehicle engines in the underground parking structure. NOISE: 130 South Galena Street Aspen, Colorado 81611 303/925-2020 ASPEN*PITKIN ENS MENTAL HEALTH OEP/{ ENT eou 5-14 mu' 8 1 Ritz - Carlton, GMP /PUD February 18, 1988 Page 3 There will obviously be noise impacts in the immediate neighbor- hood of the hotel. In fact, due to the magnitude of the construction activity proposed, severe noise impacts can be anticipated. The applicant shall be aware of Chapter 16 of the Aspen Municipal Code titled Noise Abatement. Maximum noise levels are described that will regulate the sound levels generated at the project. Most complaints are anticipated during construction, but there may be longer term impacts felt should care not be given to noise generated from lounge /bar areas, amplified music areas and delivery docks. Should complaints be received by this office, response will be made using the referenced document for enforcement investigation. CONFORMANCE WIT11 OTIJER LAWS: Food Service: As mentioned above, there are various dining areas proposed for the hotel. The applicant shall be aware of Title 12 Article 44 Part 2 C.R.S. 1973 - Food Service Establishment Rules and Regulations Governing The Sanitation Of Food Service Establish- Inents In The State Of Colorado', July 1, 1978. Plans and specifications for the food service areas are required to be reviewed and approved by this office prior to construction. Compliance with this regulation will be required before issuance of a Colorado Food Service License to the facility. Swimming Pools: The plan indicates one swimming pool and one spa /hot tub will be installed in the hotel. The applicant shall be aware of the Colorado Swimming Pool Regulations and Standards, September 19, 1973. Compliance with that regulation will be required. Plans and specifications are required to be reviewed by this office prior to construction and public use. Contaminated Soils: The applicant is advised to contact this office for comment should mine waste, waste rock or mine dumps be encountered during the excavation phase of the project. Disposal of such materials off -site is discouraged due to the possibility of excessive heavy metals being present in the soil. This is not a requirement, but simply a request based on past 130 South Galena Street Aspen, Colorado 81611 303/925-2020 ASPENQPITKIN ENf _*MENTAL HEALTH OEPX ENT nox 574 .AGE 892 Ritz - Carlton, GMP /PUD February 18, 1988 Page 4 experience in dealing with mine waste and possible negative impacts to humans. Contact this department for copies of any of the laws and rules and regulations mentioned in this review. 130 South Galena Street Aspen, Colorado 81611 303/925-2020 5 BOOK � � SCHEDULE 1 CONTINENTAL IPIN RETlOV11'I'ION PROGRAM _ (a) The old existing structures located west of the area Continental Inn will be removed in the Spring of 1905. The land s will become a surface parking lo. t for hotel Phase Iwill serve as north of the Inn (between Dean and Durant Streenexisting struc- a staging area, parking, offices and Dousing (i tures such as the hillside Lodge) during the construction of tel Phase I. This site will be elePhase °I and structures Hotel of hotel Phase landscaped upon the opening o en s P ace until the new east wing of the hotel (hotel Phase II P is constructed. (b) The public spaces of the Inn will be cleaned, brightened up and repainted. Tile oolugh selectively use of lighting, public spaces will be improved through selective other accents. Opera - colors, carpets, furnishings, P and tional plans will be developed to maximize Clooms efficiency shops , the productivity of such spaces as the meeting lobby lounge area and front desk. Some he basementr�whiclsare relocated to certain guest ro will be oms in considered to be unreritable. nts will include cosmetic to (c) Exterior improveme the exterior, painting and landscaping. repaired and equipment and mechanical repairs will be made. (d) Guest rooms will be cleaned, broken or trnditems All replaced and selective painting and grouting will be damaged or broken furnishings will w e repaired or replaced. A be number of substandard guest room space, vending areas and storage areas. (e) New or improved life safety feature wisecuritydand peepholes and security sign g , fire safety signage, improved lighting, exit signs, employee in fire safety, C.P.R. and first aid, improved training programs atrols and pre - water service tenanceeplrogramssforeallisyspems. pre- ventative main (f) Depending on the results of feasibility studies for the tion of hotel Phase II, a minimum Continental timing of construction will be spent initially. If the Owner Inn budget of $250, ears or decides to leave tlle CtotsnendaatInn least $1,200,0005 on Continental longer, Owner ccomm tsthe next 5 years. Inn .upgrading 9 ,r r� MOK SCHEDULE 2 FIRE PREVENTION MEASURES I. HOTEL COMPONENT (Phases I and II): A. Automatic Sprinkler System-(UBC Standard 38 -1). B. Class I Standpipes (designed in accordance with UBC Standard.38 -3). C. Smoke Detection 1. In elevator lobbies (designed in accordance with UBC Chapter 51). 2. In all mechanical rooms. 3. Single station detectors shall be installed in all guest rooms to provide local alarm. 4. Return air risers (as per UBC Section 1807(d)(3). D. Elevators Will Conform to UBC Chapter 51, and will be Separated from Exit Access Corridors as Per UBC Section 1807(h) . E. Communications 1. A voice alarm system shall be installed throughout the facility. 2. A public address system shall be installed in public spaces. 3. A two way fire department communications sys- tems shall be installed in the central con- trol station and elevators, elevator lobbies and enclosed exit stairways. F. Standby Power Shall Be Provided For: 1. Exit Signs 2. Elevator Car Lighting 3. Voice Alarm and Communication Systems 1, 6009 574 M5 4. Fire Suppression and Detection Equipment 5. Central Control System' G. A Central Control Station Shall Be Provided and Contain the Following: 1. Voice Alarm and Public Address System Panels. 2. Fire Department Communications Panel. 3. Fire Detection and Alarm System Annunciator Panels. 4. Status Indicators and Controls for Elevators. 5. Controls for Unlocking Stairway Doors. 5. Sprinkler Valve and Waterflow Detector Dis- play Panels. 7. Standby Power Controls. a. Telephone for Fire Department. II. 700 SOUTH GALENA COMPONENT: A. An Automatic Sprinkler System shall be Installed in the Garage as per Code Requirements. B. A Fire Alarm System as Required by Code. C. Code Conforming Exits and Doors. —2— ecoES 574 SCHEDULE 3 WATER AND ENERGY CONSE_ZVATION MEASURES I. HOTEL COMPONENT (Phases I and II): A. Water Conservation • 1. Water saving shower heads, faucets and toilets will be specified D. Energy Conservation 1. Structure oriented to maximize passive solar gain. 2. Roof overhangs designed to permit winter sun I n and keep summer sun out. 3. Solar glazing will be used d on areas where shading devices cannot be used. North facing glazing will be minimized. 9. A large portion of the support facilities are located underground. 5. Multiple levels and double loaded corridors reduce energy consumption. G. The hotel will have a computer controlled energy management system which will control heat, ventilation and air conditioning sys- tems (11VAC) . 7. Waste heat from main boilers will be used to heat domestic water. 0. Insulation will exceed local requirements - Roof - R -38 Exterior Walls - R -19 Between Floors - R -11 Floor Over Garage - R -19 Slabs On -Grade - R -11 Below Grade Walls - R -20 Ce mox 574 rmf�E897 II. 700 SOUTH GALENA COMPONENT: A. Water Conservation 1. No specific conservation measures repre- sen ted . B. Energy Conservation 1. Structures oriented to take advantage of solar gain. 2. South facing glazing and skylights will pro- duce passive solar gain and reduce lighting requirements. 3. Cleating units will be state -of -the -art minimum energy imput systems. 4. Mechanical systems will be designed and insulated for increased efficiencies. S. Tile thermal mass within the buildings will be insulated on the exterior to provide an internal thermal sink preventing excess tem- perature swing inside the structures. -2- C� C� SCHEDULE A Book 574 AUTOMOBILE DISINCENTIVES 1. Four courtesy vans will be available within the PUD for owners and guests. 2. Valet parking will be employed by the hotel during peak occupancy periods (Christmas, President's Day, Memorial Day, Labor Day and July 4th). 3. hotel brochures will provide informati.on on bus service and courtesy vans. 4. Hotel employee housing will be on a transit route and most will be located within walking distance of the ho tel . 5.. Transit passes will be purchased by the ho Eel for any employee needing one to .commute to work. 5.• A hotel shuttle will be provided for seasonal employees residing down valley. ' C, SCHEDULE 5 EQE)K 574 F�FE899 HE110 TO: Jim Wilson FROM John Ostwald RE: Life Safety Inspection at the Copper Horse DATE: )larch 20, 1985. 1. Combustible decorative Wood is too close to the fire box of the fire- place. Sec. 3707 (h) 1979 U.B.C. be placed within I Inch of fireplace, smoke chamber or chimney wills. Co►nbustible material $hall not be placed gllhln 6 Inches of the fireplace opening. No such cohlbustlble material' within 12 Inches of the fireplace opening shall Otbjlcl more thin X Inch for each I•Inch clearance from such opening, 2. Rooms not having a minimum area of 70 square feet, not to be used as habitable rooms. Sec. 1207 (b) 1979 U.B.C. (b) Floor Arco, Every dwelling unit shall have at least one room which shall have 1101 less than 150 'Quite feel of floor area• Other habitable rooms except kitcherit*rhall1havt an Rita of not lens than 70 square feel. Efficiency dwi:lling units shall comply will, Ilse requlriments of Section 1203. ). bedroom above•tlte first floor to have two qualifying exits. Sec. 3302 1979 U.B.C. Exits nequlred Sec. 330I. (a) Number of EAU t, Every building or usable portion thereof shall have at least one tall and shall have not lest than Iwo cxlts where required by Table 1'lo, 33 -A, In.oll occupancies, /loori above the first story having an occupant load of more than 10 shall have not less than two "Its. 4.. Boiler vent too close to roof. Section 906 (d) and Figure 1 1979 U.B.C. (d) Type D or I)W. A Type D or DW gat vent shall tcrminale not less than 1 foot above the roof through which 11 posses nor less than 4 Ieet from any portion of the building 'which extends at an antic of more thin 43 degrees upward from the horitonlsl not less thin 'hown in Figurt No. I. r r r — _ - r r - :r t — I 1 1 h�� /III ul/ Lp ICY 4 M� 11,17 l 0a7 w.0 II'C 1 goof star FICUnE 110. offices: mail addre>sla: 110 Eas>r Hallam Street — _ - -1 - C 4600 574. P <icE c 00 S. Fire alarm system an required by Chapter 9 Sec. 13.307 M of the Aspen Municipal Code. (f) An Insidd audible alann In to be Installed wherever an alarm Is required by Section 13.307 of the Uniform Fire Code or Section 3802 of the Utuforin Building Code, except in single family, duplex, triplex, or• fourplex residential dwellings. In the case of public assembly areas will) an occupant load of one hundred (100), or more persons -or where, in Ilia opinion of Ilia building -official or the fire marshal, Ilia installation of an inside alarm may result in creating panic, the alarm signal elmN be installed in an attended area (e.g. projection booth, manager's office) from 6. The windows in the West side-of the addition were illegal when installed by Table SA of the' 1973 U.B.C. If the addition is closer than five feet to the property line,, then they would be illegal by Table SA of the 1979 U.B.C. We need a current survey to determine. TARE N0. S- A— Gonllnul/ lltl 20M1 t 't 1 �••. 11..1.1.._.) . 1•••Ir...../ M.•... Mr /II.r L•/ t t t•.vf lei# lh/w 30 left 1 Aw.lr rl.. -�1vrr \'.I,.fnw111n1 I, I Ih J Irfl w.l .1131 1i Itl..w ,f'N'11 ►fT••wIM.1111.1* fw•f0 li•IM t�'.r.. Mw1/ I.............. ._._..... • I "of .w II11ffI S•A I•+.•.111•.I Lv/ 11.. :1 1..1 t gin: _ -- —• —. _... ... 1' ^Mff/ _i 1... In... uI 1•, I • � • 1 (•1w1f )...11•.33 .� f.,� �.:,,...41.:i%:.li.: ».11:.. —.. R See 3110 1- 1101e11 Ind 1p1;1mtnl hoUttt 1 hour leis thin! fed Not r+ermltttd lest Section . Convrn1s and mon3atl::s (each aceommodaln j more then 10 pmone) thin J fat 1102 J— Dwellin jl and lodtini houtts I hour lest thin) feet I Not rttrnhicel Its) thin J feet JO:lo 000K 574 PAIE&I RENO TO: Jim Wilson FROH: Tom Voorhies RE: Life Safety Inspection at the Copper Horse DATE: March 20, 1985 1. This inspection is intended to identify electrical hazards. It is not intended to determine if Lhe installation complies with current or past codes. 2. Conductors for pendant (chain) front porch fixture need protection where they enter cei-ling canopy to prevent abrasion. 3. Numerous extension cords are used for lights and lamps in the lounge and rooms of the old portion of building. Receptacle outlets need to be installed such that extension cords are not needed. 4. The old portion of building has an ungrounded electrical system. Receptacle outlets with ungrounded grounds have been installed at existing outlet locations. These must be grounded or replaced with ungrounded types. 5. There are ungrounded receptacle outlets in the kitchen. These must be grounded. 6. Exposed tilt (Romex) cables in area above dropped ceiling in kitchen must be supported per tI.E.C. code. 1. The electrical panel, located at rear of building, has a 240 v, 06 aluminum 'circuit protected by a 70 amp circuit breaker. This circuit breaker must be decreased to 50 amps. 8. Ground -fault circuit-- interrupter *type receptacles shall be installed . in the.bathrooms required by Sec. 210 -3 (a)1 of the 1984 N.E.C. TEV :lo of fices: mail addroae: 110 East; Hallam St;r ©at; 506 Eaet; Main St:ro ©t• l\spen, Color•odo DIG11 303/J2!-,- 1,r17'-1 A-- -.. r-- ..►,.....,,.. nor -,� C� i1E110 TO: Jilts Nilson FROM: Join Ostwald SCHEDULE 6 RE: Life Safety Inspection at the Alpina llaus 935 E. Durant DATE: fiarch 21, 1905 1. The exits from ti►e second floor balcony are not placed per Section 2303(c) of tite 1979 U.B.C. (c) Arrangement of Exits. If only two exits are required they shall be placed a distance apart equal Ie not Ices thin one-half of the length of the maximum ovcrslf diagonal dimension of the building or arcs to be served _ measured in a straight line.belween exits. 2. The spiral staircase serving rooms 32 -42 and the lounge area [rpm the parking area on the eastwas not constructed as approved.and is not legal for a multi— family occupancy R -1 per Section 3305(f) of the 1979 U.B.C. (f) Spiral Slalrwsyt. In Group R, Division 3 Occupancies and in private stairways within individual units of Group R. Division I Occupancies. ;.rival stairways may be Installed. Such stairways may be used for required tails %4•hcn the area served Is limited to 100 square feet. 3. The spiral staircase serving the lounge from the kitcl►en /dining area is not legal per Section 3305(f) fo the 1979*U.B.C. (f) Spiral Slair- sys. In Group R, Dlvlrlon 3 Occupancies and In private stairways within Individual units of Oroup R, Division I Occupancies. spiral stairways may be Installed. Such stairways may be used for required ails when the area served It limited to 100 square feet. 4.. Basement apartment has illegal sliding exit door per Section 3304(e) of the 1979 U.B.C. (c) %VIdlh and lfelghl. Every requlred ult doorway shall be of a sire at to permit the installation of a door'not less than 3 feet In width and not lets than 6 feel tl inches In height. When Installed In exit doorways, exit doors shall be Capable of opening at least 90 degrees and shall be so mounted that the clear width of the exitway It not less than 32 Inches. In computing I)te exit width required by Section 3302 (b), the net dimension of the exitN.ay shall be used. 5. The laundry area and ti►e basement apartment have only one exit each. They are required to have two by Section 3302(a) of tine 1979 U.B.C. For purposes of this section, basementa and occupied roofs shall be pro- %ided with exits as required for stories, floors ibove sisc second story and basements shall have not Icss than two exits except Ahen such floors or bascincn,s arc used exclusively for the service of the building. 6 The fireplace in the lounge and dining area* not have large enough hearth extentions per Section 3707(k) fo the 1979 U.D.C. (1) Ilearth Exlenslono. }fearshs shall "send of legal 16 Inches from the front of, and al Ic2st g Inches beyond each side of, the fireplace opening. Where the fireplace opening Is 6 square feet or larger, the hearth extension shall extend at least 20 Inches In front of, and si leasl 12 Inches beyond each side of, the fireplace opening. 7. The !rood over the fry grill in the kitchen is a residential type. It is required to be a cornmericial type I by Section 1003(a) of the 1979 U.H.C. and Would also be required on a domestic grill by the 1982 U.H.C. Sec. 2003. (a) Whcre Required. Iloods 11,211 be Installed at or above all commercial lype deep fat fryers, broilers, fry grills, 11eam- jackeled kellles, I101 -10p ranges, ovens, barbecues, roliiserla, dishwashing machines and similar cquipmenl which product comparable amounts of slam, smoke, grease or heal in a food-processing establishment. For the purpose of this scclion a food•processing establishment shall include any building or por. don if►crcof used for the processing of food but shall not include a dwelt ling unit. 8. Tlse receptacles and circuits in the community kitchen and the kitchens in apartment 42, 43 and the basement need.to comply With Section 220 -3(b) (1) and 210 -52(b) of the 1984 H.E.C. (b) Small Appliance Branch Circuits — Dwelling Unit. (1) In addition to the number of branch circuits determined in accordance with (a) above, two or more 20- ampere small spplisnce branch circuits shall be provided for all receptacle outlets specified by Section 2111.32 for the small appliance loads, Including refrigeration equipment, in the kitchen, pantry, breakfast room, end dining room of a dwelling unit. Such circuits, whether two or more are used, shall have no other outlets. (b) Counter Tops, In kitchen and dining are2z of dwelling units 2 receptacle outlet shall be installed at each counter space wider Ilion 12 inches (3103 min). Counter top spaces separated by range tops, refriger2lort, or sinks shall be considered as separate counter top spaces. Acceplecles rendered inaccessible by ap liances fastened in place or appliances occupying dedicated space shell not be considered as these required outlets. 9. All other receptacles in apartments 42, 43. and the basement need to comply with Section 210 -52(a) of the 1984 11. E. C. for maximum spacing. 210 -S2. Dwelling Unll fleeeplacle oullels, (a) General Provisions. In every kitchen, family room, dining room, living room, parlor, library, den, sun room, bedroom, teerealion room, or similar rooms of dwcllin; units, reeeplsele outlets shall be inttalled in that no point along Ihl floor line in any will space is more than 6 feel (I.gj m). mcatured horizontally, from an outlet in that space, including stir will spacc 2 feel (610 mm) or more in width and the wall space occupied by sliding panels in exterior walls. The wall space afforded by fixed room dividers, such as free•tlanding bar,lyfe counters, shall be included in the 6-loot (I.93 -m) measurement. As uted in this section a "wall space" %hail be eonsidcrcd a wall unbroken along the floor line by doorways, fireplaces, And similar openingi. Each will spice 2 or more feel (610 mm or more) wide shall be treated individually and separalcly from other wall spaces within the loom. A wall space shall be pernsittcd to include two or more wills of a room (around corners) where unbroken if the floor line. -2- 6009 50 PAGE904 (FPN): The purpose of-this requirement Is to rninimiu she use of Cords scroll doorwars, 6replaeu, and similar openinjs. Recepptacle outlets shall, Insofar. as practicable, be spaced equal distances spare. Rcuptscle outlets In floors shall not be counted as part of the rcquircd number of receptacle outlets unless loafed close to the wall. The receptacle outlets required by this section shall be in addition to any receptacle that is put of any ligghlln6 fixture or appliance, located within abincts or cupboards, or located over 3IS feel (1.68 m) above the floor, 10. Working space at the electrical equipment in the basement shall be as required by Section 110 -16(a) and Table 110 -16(a) of the 1984 11.E.C. AnTICLE 1 10— REOUIREMENTS FOn ELECTnICAL NSTALLATIONS 70.21 In additionao the dimensions shown in Table.IJO- 16(s), lhs work space.. shall not be leis than 30 inches (762 mm) wide in front of the electric equipment. Table 110 16(s), Working Clearances V011899 Is Ground, Hordn9►r Mlnlrnurn Close Distance 09917 . Candlllonl 1 > 0.130 3 3 131.600 3 3% 4 11. Each occupant must have access to the electrical disconnects *as required by Section 230 -72(c) of the 1984 N.E.C. They may not be locked in the storage closet in the basement as they now are. (c) Aceass to Oeebpenls. In s multiple- oocupsncy building, each Occupant shall have access to his service disconnecting mein:. 12. General clean up of the laundry area to assure compliance with electrical and plumbing codes. 13. Installation of i fire alarm system per Chapter 99 Section 13.307(f) of the Aspen Municipal Code. M An inside audible alarm is to be installed wherever an alarm is required by Section 13.307 of the Uniform Fire Code or Section 3802 of the Uniform Building Code, except In single family, duplex, triplex, or fourplex residential dwellings. , In the case of public assembly areas with an ' occupant load of one. hundred (100) or more persons or where, in the opinion. of the building official or the fire marahal, the installation of an inside alarm may result in creating panic, the alarm signal shall -be installed in an attended area (e.g. projection booth, manager's office) from 14. Smoke detectors as required by Section 1210(a) of the 1979 U.B.0 may be incorporated into the alarm system. -3- �oox 5 �4 paGE 905 I Fite- warnlnp and Sprinkler Sys lame . Scr, 1110. (a) Flraweraing Systems. Every dwelling unit and every tucst room in ■ hotel or lodgins house used for sleeping purposes shall be provided with smoke detectors conforming to U.B.C. Standard I4o. 41.6. In dwelling units, detectors shall be mounted on the ceiling or will at a point centrally located in the corridor or area giving access to rooms used for sleeping purposes. In an efficiency dwelling unit, hotel sleeping room and in hotel suites, the detector shall be centrally located on the ceiling of the main room or hotel sleeping room. Where sleeping rooms ate on an upper level. the defector shall be placed at the center of the ceiling directly above the stairway. All defectors shall be located In accordance with sp- proved manufacturer's instructions. When actuated, the detector shall ` provide an alarm in the dwelling unit or guest room. 15. The boiler room requires a lhr. rated door as required by Section 1212 and should have a second exit as required by- Section 3320(a) of the 1919 U.B:C. Special Hazards Sec. 3320, (a) Boller, furnace and Incinerator Rooms. Except in Group R. Division J Occupancies, any room containing a .boiler, furnace,.in• . cincrator or other fuel -fired equipment must be provided with two means of egress when both of the following conditions exist: I. The arcs of the room exceeds 300 square feet, and , 2, The largest piece of fuel -fired equipment exceeds 100,000 Btu per hour input capacity. If Iwo mcari of egress must be provided, one may be a fixed ladder. The means of egress must be separated by a horizontal distance not less Ih2n lulf like greatest horizontal dimension of the room. k'here oil -fired boilers ue used, a 6-inch noncombustible sill (dike) shall be provided. There shall be no interior openings between it Oroup If Occupancy and an Incinerator room. Every room containing a boiler or central healing plant in Division I Occupancies shall be separated from the rest of the building by not less than a one-hour fire- resistive occupancy's cparalion. • . 16. Ground,fault circuit - interrupter receptacles as required by Section 210 -8(a) and 210 -52(c) need to be installed. JO: to (a) Dwtlling Unlls. (1) All 123 -volt, single-phase. IS• and 10- ampere receptacles installed in' bathrooms shall have ground fault eireuit•ihterrupter protection for personnel. (e) 621hroorns, In dwelling units.al leasl one wall receptacle outlet . shall be installed in the bathroom adjacent- to the basin location. See Section 210.8(2)(1). —4- CA Dom 574 PiGE 9 6 SCHEDULE RESIDENTIAL AND LODGE UNIT VERIFICATIONS I. ASPEN MTN. 2 2 - 2 NUMBER OF UNITS 'Lot 6 SUBDIVISION proposed lot for the Park to be subdivided from Lot 5. PROJECT LOT NO. LEGAL/ADDRESS TOTAL DEMOLISHED REMAIN' RESIDENTIAL UNITS: A. Blue Spruce 1 Lots A -D, Block 84, 2 2 - Lodge Townsite (303 E: (North wing) Durant Avenue) B. North Aspen 1 Lots 7 & 8, Block 3, 6 6 - Inn Apts. Conners Add. (711 S. Mill Street) 1 Lots 11 & 12, Block 31 Conners Add. (300 E. Juniata Street) 1 1 -. (320 E. Juniata Street) 1 1 - C. Hillside Lodge 6 (1) Lots A & B, Block 91, 14 - 14 Townsite (403 E. Durant Avenue) D. Townplace 6 (1) Lot C, Block 91, 4 - 4 Townsite (409 E. Durant Avenue) E. Chase 6 (1) Lots D -I, Block 91, 2 - 2 Townsite (415 E. Durant Avenue) F. Paas 5 Lot K, Block 91, 2 2 - Townsite (602 So. Mill Street) G. Melville #2 5 Lots 17 & 18, Block 2 1 1 - Dean's Add. (680 So. Mill Street) H. Black 3 Lots 3,4, &5, Capitol 2 - 2 Hill Add. (918 So. Mill Street) I. Summit Place 2 2 - 2 (1) 'Lot 6 is the proposed lot for the Park to be subdivided from Lot 5. t1 �✓ �`.. rn 500 .QQVA PLANNED UNIT DEVELOPMENT /SUBDIVISION AGREEM Q rn a nz ASPEN MOUNTAIN SUBDIVISION � 7�vr2r, V ox co rnn LJ THIS AGREEMENT, made and entered into this 71Jb day of 1985, by and between the CITY OF ASPEN, COLORADO, a municipal corporation and home -rule city (hereinafter referred to as "City ") , and JOHN H. ROBERTS, JR. (hereinafter referred to as "Owner "), W I T N E S S E T H: WHEREAS, Owner has submitted to the .City for approval, exe- cution and recording a Final Subdivision and Planned Unit Devel- opment (P.U.D.) Plat (hereinafter referred to as the "Plat ") per- taining to the development of a hotel and residential project known as the "Aspen Mountain PUD /Subdivision" (hereinafter referred to as the "Project ") on those certain contiguous parcels of real property situated in the City of Aspen, County of Pitkin, State of Colorado and more particularly described on Schedule 1 attached hereto and made a part hereof by this reference; and WHEREAS, the Plat formally divides the subject property into five (5) independent parcels of land, which parcels may be t described as follows: (a) Lot 1 (sometimes herein referred to as "Hotel Phase (b) Lot 2 (sometimes herein referred to as "Summit Place "); (c) Lot 3 (sometimes herein referred to as "Top of Mill "); (d) Lot 4 (sometimes herein 'referred d to as 700 South Galena "); and (e) Lot. S_ _(some.times. herein referred to as "Hotel Phase III,). The exact legal descriptions of each of such parcels are set forth on said attached Schedule 1; and WHEREAS, all of the development elements of the Project have received the requisite conceptual, preliminary and final approvals from the City except the Top of Mill component thereof, which requires further geologic study and evaluation during the spring and summer of 1985 before it can receive Preliminary and Final P.U.D, consideration; and WHEREAS, the City has fully considered the subject Plat and, with the exception of the Top of Mill component of -the P.U.D., the proposed development and improvement of the lands therein and the anticipated benefits and burdens to other adjoining or neigh- boring properties and the downtown area in general by reason of the proposed development and improvement of the lands included in the Plat; and WHEREAS, the City is willing to approve, execute and accept for recordation said Plat upon the agreement of Owner to the mat- ters hereinafter described, subject to all of the requirements, i terms and conditions of the'City of Aspen Subdivision and P.U.D. Regulations now in effect and such other laws, rules and regula- tions as are or may become applicable, and subject to the under- standing that at such time as the Top of Mill component receives Final P.U.D. approval, this Agreement shall be restated and V -2- • amended to reflect such fact and to incorporate all conditions .and assurances that may reasonably be required by the City in connection with such approval; and WHEREAS, the City has imposed conditions and requirements in connection with its approval, execution and acceptance for recordation of the Plat, and such matters are necessary to.pro- tect, promote and enhance the public health, safety and welfare; and WHEREAS, under the authority of Section 20 -16(c) and Section 24 -8.1 et seq. of the Aspen Municipal Code, the City is entitled to assurances .that the matters hereinafter agreed to' will be faithfully performed by Owner and Owner's successors and assigns; and WHEREAS, Owner is willing to enter into such agreements with, and to provide such assurances to, the City. NOW, THEREFORE, in consideration of the premises, the mutual covenants herein contained, and the approval, execution and acceptance of the Plat for recordation by the City, it is agreed as follows: A. PROJECT CONSTRUCTION SCHEDULES Owner and City mutually acknowledge that exact construction schedules cannot be submitted at this time. Owner anticipates that the several components of the Project will be constructed generally in accordance with the following time frames, which -3- time frames shall not constitute binding representations or schedules: Development Component Commencement Date Substantial Completion Dare (on or after) (on or after) Hotel Phase I March, 1986 February, 1988 Summit Place March, 1987 December, 1987 700 South Galena March, 1987 December, 1987 Hotel Phase II March, 1990 December, 1992 Top of Mill (Phased Construction) (Premature - to be established by amendment to this Agreement) At the time of application for a Building Permit for a particular development component of the Project, and as a condition prece- dent to the issuance thereof, Owner agrees to provide the City Engineering Department with a detailed Construction Schedule for that component, to the satisfaction of the City Engineer and Chief Building Official in the exercise of their reasonable dis- cretion, which Construction Schedule shall particularly address how construction phasing and other techniques within each compo- nent will best accommodate under the circumstances (a) barricading and provision of pedestrian protection, (b) mainte- nance of adequate public vehicular access and circulation in the development area, (c) excavation access and large truck traffic circulation and staging areas, (d) disposal of demolition and excavation materials, (e) delivery and storage of major construc- tion materials, (f) construction equipment access and storage, -4- z, "U0 (g) contractor vehicle parking, and (h) compliance with City noise regulations. Each of such Construction Schedules shall be verified by the City Engineer and the Chief Building Official and (if the City so desires) recorded as a supplementary exhibit hereto. Every 90 days thereafter until substantial completion of the related development component, Owner shall provide the.City Engineering Department with a Status Report on that Construction Schedule which generally describes the accomplishments of the preceding 90 days and those anticipated during the next 90 days. Amendments to a particular Construction Schedule which, in the view of the City Engineer, represent a substantial deviation from the original Construction Schedule, shall be processed in accor- dance with the extension procedures established in Section M hereof, and shall also be verified by signatures of the City Engineer and Chief Building Official and (if the City so desires) recorded as supplementary exhibits hereto. B. HOTEL PHASE I The Hotel Phase I component will be comprised of not more than 300 lodge units and not more than 14 residential units, with the exact number of such units to be established in the building permit application for Hotel Phase I. The total F.A.R. floor area in this component shall not exceed 200,000 square feet, and the total non- F.A.R, floor area shall not exceed 105,'000 square feet, subject to the understanding that the F.A.R. floor area -5- maximum is exclusive of the approximately 26,783 square feet of covered port cocheres, colonnade between the chateaus and parking ramps to the underground garage which are contained in Hotel Phases I and II together. 1. Site Improvements - Hotel Phase I.- Prior to the issu- ance of a Certificate of Occupancy for Hotel Phase I, and-as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Proj- ect area: (a) Owner shall relocate underground all.electrical, telephone and-cable television lines which presently exist above ground within the Project boundaries and along the portion of Monarch Street which adjoins Lot 1, with the possible exception in Owner's discretion of (i) those lines along vacated Dean Street between South Galena and Mill Streets, and (ii) the line along the easterly boundary of Lot 4, in accordance with the plans, profiles and specifications contained in the final Aspen Mountain P.U.D. Utility Plan (Sheet U1) prepared by Rea, Cassens & Associates, Inc. and recorded (as a part of the Plat) in Plat Book I:j at page (q of the Pitkin County real property records (hereinafter referred to as the "Utility Plan "), which Utility Plan shall be deemed incorporated herein by this reference, and pursuant to other normal City specifications. (b) Owner shall provide and install a new twelve inch (12 ") water main in South Galena Street from the Durant /Galena intersection to the Mill /Galena intersection, and a cross - connection between the existing 6" and 8" water lines in Monarch Street, and shall relocate the existing Mill Street sewer line in an easterly direction across Lot 5 to connect with the existing 8" sewer line in South Galena Street, all in accordance with the Utility Plan and pursuant to other normal City specifi- cations. (c) Owner shall provide and install four (4) new fire hydrants within or adjacent to the Project area in accordance with the Utility Plan and pursuant to other normal City specifi- cations. (d) Owner shall provide and install the storm sewer enlargement and extension along Mill Street between Cooper and Durant Streets, and then along Durant Street to South Galena Street, and then southerly along South Galena Street to a point between Lot ,5 and Lot 4, in accordance with the Utility Plan and pursuant to other normal City specifications. (e) Owner shall construct new sidewalks, curbs and gutters along the entire Project frontage on Monarch Street, along the Westerly side of Mill Street between Dean Street and the Southerly boundary of Lot 11 on Mill Street, and along the Southerly side of Durant Street between Monarch Street and the -7- 0 E Westerly boundary of the Mountain Chalet property, in accordance with the Aspen Mountain Lodge Project Landscape Plan (Sheets L1 through L10) prepared by Berridge Associates, Inc. and recorded (as a part of the Plat) in Plat Book 1$ at page of the Pitkin County real property records (hereinafter referred to as the "Landscape Plan "), which Landscape Plan shall be deemed in- corporated herein by this reference, and pursuant to other normal City specifications.. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. (f) Owner shall provide and install enriched paving at the Durant Street /Mill Street intersection, at the Dean Street /Mill Street intersection, at the Dean Street /Monarch Street intersection, and along Mill Street between Durant Street and Dean Street, in accordance with the Landscape Plan and pursu- ant to other normal City specifications. (g) Owner shall construct and pave an eight foot (81) wide path within those portions of the "Alpine Trail" easement located within Lots 1 and S, Aspen Mountain Subdivision. (h) Owner shall clear and grade a thirty foot (301) wide ski trail, and shall gravel or otherwise surface as required an eight foot (81) wide pedestrian trail, within the entire length of the "Aspen Mountain Trail" easement, upon and through Lots 1, 2 and 3 of the Aspen Mountain Subdivision. -8- O (i) Owner shall construct (grade, gravel,.and chip and seal) the South Galena Street realignment between Lot 4 and Lot 5, Aspen Mountain Subdivision, in accordance with the Utility Plan and the Landscape Plan and pursuant to other normal City specifications. (j) Owner shall, prior to November 15 of the year fol- lowing the year in which Hotel Phase I construction is commenced, accomplish the reconstruction and repaving of so much of the sur- face of South Mill Street within the Project Area as may have been damaged or destroyed during Owner's construction of under- ground facilities, in accordance with the Utility Plan and the Landscape Plan and pursuant to other normal City specifications. 2. Landscapinq Improvements - Hotel Phase I In accordance with Section 24 -8.16 of the Municipal Code, all required landscaping for Hotel Phase I shall substantially conform to the Landscape Plan. Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (e.g., pav- ing, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing•, benches, site lighting, and all other agreed -upon landscape features. -9- , O • Such landscaping shall be completed in a logical sequence commen- surate with the staging of improvements as contemplated in the Hotel Phase I Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Hotel Phase I. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Hotel Phase I even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph B(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Para- graph B(3). 3. Financial Assurances - Hotel Phase I. In order to secure the performance of the construction and installation of the site and landscaping improvements described in Paragraphs B(1) and B(2) above, and to guarantee one hundred percent (100 %) of the current estimated cost of such improvements, which esti- mated cost is approved by the City Engineer to be $1,700,000 (as such amount may be updated from time to time as herein provided), Owner shall guarantee by irrevocable bond, sight draft or letter Of commitment or credit from a financially responsible lender that funds in the amount of such estimated cost are held by it for the account of Owner for the construction and installation of the above - described improvements. Said guaranty shall be -10- M �% a delivered to the City prior to the issuance to Owner of a build- ing permit for Hotel Phase I of the Project, shall be in a form acceptable to the City Attorney and the City Manager, and shall give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional adminis- trative or legal costs associated with any such default and the repair of any deterioration in improvements already constructed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are com -. pleted, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that ten percent (10%) of the estimated cost shall be withheld until all proposed improvements are completed and approved by the City Engineer. Provided, that the withheld ten percent (10 %) which relates to the improvements described in Paragraph B(1) above shall be released by City upon completion and approval by the City Engineer of all such Para- graph B(1) improvements and regardless of the stage of completion of landscape improvements described in Paragraph B(2).above. -11- M ✓' The Owner also agrees to deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suit- able guarantee for the repair.or replacement of any existing municipal improvements damaged during construction of new improvements. Furthermore, Owner hereby agrees to and does hereby warranty all such improvements to accepted standards of good workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. In addition to this warranty, the Owner shall obtain from its contractors customary warranties of good workmanship with the City as beneficiary, with respect to all improvements required by Paragraphs B(1) and B(2). It is the express understanding of the parties that the pro- cedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforce- ment and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - Hotel Phase I. As an inducement to the City to approve the Aspen Mountain P.U.D. /Subdivision, Owner has agreed to and does hereby acknowledge its obligation to pro- vide off -site employee housing for employees in connection with the Hotel Phase I component of the Project. Accordingly, Owner agrees that (i) in the case of Ute City Place, contemporaneously with the issuance of a Certificate of Occupancy for Ute City -12- f Place, (ii) in the case of the Alpina Haus Lodge and the Copper Horse Lodge, contemporaneously with the issuance of a Certificate of Occupancy for Hotel Phase I, and (iii) in the case of the Hunter Longhouse, prior to the recording of this Agreement in the Pitkin County records, Owner shall deed- restrict (or shall already have deed - restricted) units for employee housing as fol- lows: (a) Alpina Haus: Forty -three (43) units, comprised of 40 hotel rooms, 2 studio apartments and 1 dorm apartment, and housing a total of 46 employees, shall be dedicated for fifty (50) years to City employee housing rental only guidelines and restrictions, with rents (including all common utilities) not to exceed 251 of the employees_' average monthly income or $250.00 per month per person, whichever is less. Provided always, that rental prices shall be indexed to the annually adopted employee housing guidelines approved by the City. (b) Copper Horse: Fourteen (14) units, comprised of one 1- person room, six 4- person rooms, four 3- person rooms and three 2- person rooms, and housing a total of 43 employees, shall be dedicated for fifty (50) years to City employee housing rental only guidelines and restrictions, with rents (including all com- mon utilities) not to exceed 25% of the employees' average monthly income or $200.00 per month per person, whichever is less. Provided always, that rental prices shall be indexed to -13- the annually adopted employee housing guidelines approved by the City. (c) Ute City Place: Twenty -two (22) units, comprised of 6 studios, twelve 1- bedroom units, and four 2- bedroom units, and housing a total of 37 employees, shall be dedicated for fifty (50) years to City employee housing moderate income rental and sale price guidelines and restrictions. The employee housing commitments described in subparagraphs (a), (b) and (c) above shall be performed in the following manner. Contemporaneously with the execution of this Agreement, Owner has signed, acknowledged and delivered into escrow with the Aspen City Clerk three (3) separate "Dedications of Real Property to Employee Housing Restrictions and Guidelines" covering the Alpina Haus Lodge, the Copper Horse Lodge, and Ute City Place, respectively, which Dedications are to be held by the City Clerk subject to the following instructions. At the same time that the City issues and delivers to Owner a valid and effective Certificate of Occupancy for Ute City Place, the City Clerk shall and is hereby authorized, empowered and instructed to t record in the Pitkin County, Colorado real property records the Dedication covering Ute City Place. Similarly, at the same time that the City issues and delivers to Owner a valid and effective Certificate of Occupancy for Hotel Phase I, the City Clerk shall and is hereby authorized, empowered and instructed to record in -14- E the Pitkin County, Colorado real property records the remaining .two (2) of the above - described Dedications. Owner agrees to confirm to City the status of title to the above - described employee housing properties as follows: At the time that Owner applies for a Certificate of Occupancy for Hotel Phase I, Owner shall deliver to the City Attorney a current Owners' and Encumbrancers' Report issued by a local title insur- ance company covering each of said properties, together with either a release or a subordination of any monetary liens dis- closed by such Reports as those liens may affect the subject Ded- ications. Firrally, Owner covenants that from and after the date hereof any entities lending funds secured by such employee hous- ing properties shall be given actual notice of the Dedication requirements contained in this Agreement. (d) Hunter Lonqhouse: For and in consideration of (i) the making by Owner of a $250,000 subordinated equity capital investment in the Hunter Longhouse project, which funds have already been delivered and receipted for, and (ii) the recording in Book 6- 60 at page 6,J of the Pitkin County records of a "Ded- ication of Real Property to Employee Housing Restrictions and Guidelines" covering the Hunter Longhouse project executed by Owner, the City, the Board of Pitkin County Commissioners, and Aspen- Pitkin Employee Housing, Inc., Owner has been credited with housing a total of 56 employees. Owner's remaining employee -15- housing obligation for-Hotel Phase ingly, upon the City's issuance to effective Certificate of Occupancy 56 employee housing credits shall cated to and consumed by the Hotel ect. i I is 40 employees. Accord - the Owner of a valid and for Hotel Phase I, 40 of said De deemed automatically allo- Phase I component of the Proj- 6. On -Site Parkin - Hotel Phase I. Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a condition precedent thereto,. Owner shall have constructed two hundred fourteen (214) subsurface parking spaces within or adja- cent to Lot 1 of the Aspen Mountain Subdivision, and-shall have provided sixteen (16) permanent service vehicle berths and /or guest loading spaces along the South side of vacated Dean Street within Lots 1 and 5. In addition, Owner shall have provided one hundred twenty -one (121) temporary parking spaces within Lot 5, Such spaces to be sited approximately as follows: (a) 55 spaces - surface lot on westerly portion of Lot 5 (b) 18 spaces - surface lot on easterly portion of Lot 5 (c) 28 spaces - Continental Inn garage (d) 7 spaces - service vehicle berths and /or guest loading along South side of vacated Dean Street -16- �, •r (e) 13 spaces - parallel parking along North side of vacated Dean Street The above - described subsurface and surface parking spaces (351 in all) represent the aggregate number of on -site parking spaces which Owner is required to provide in connection with Hotel Phase I of the Project and the Continental Inn.renova- tion, including those spaces required for the residential units in Hotel Phase I. C. SUMMIT PLACE 1. Site Improvements - Summit Place. The Summit Place component will be comprised of 3 two - bedroom residential units containing an aggregate of approximately 7,668 square feet of floor area. Prior to the issuance of a Certificate of Occupancy for Summit Place, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Summit Place area: (a) Owner shall construct a new sidewalk, curb and gutter along the westerly side of Mill Street as it abuts Lot 2, Aspen Mountain Subdivision, and shall construct a new sidewalk along the Northerly side of the "Summit Street Easement" within Lot 3, Aspen Mountain Subdivison, in accordance with the Utility Plan and pursuant to other normal City specifications.' In addi- tion, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. . -17- 2. Landscaping Improvements - Summit Place. In accordance with Section 24 -8.16 of the Municipal Code, all required landscaping for Summit Place shall substantially conform to the Landscape Plan (Sheets L9 and L10). Said Landscape Plan depicts and describes the nature, extent and location of all plant mate- rials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed defini- tion, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (e.g., paving, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape fea- tures. Such landscaping shall be completed in a logical sequence commensurate with the staging of improvements as contemplated in the Summit Place Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Summit Place. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Summit Place even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph C(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms c'f said Para- graph C(3). 3. Financial Assurances - Summit Place. In order to secure ,the performance of the construction and installation of the site and landscaping improvements described in Paragraphs C(1) and C(2) above, and to guarantee one hundred percent (100 %) of the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $30,000 (as such amount may be updated from time to time as herein provided), Owner shall guarantee by irrevocable bond, sight draft or letter of commit- ment or credit from a financially responsible lender that funds in the amount of such estimated cost are held by it for the account of Owner for the construction and installation of the above - described improvements. Said guaranty shall be delivered to the City prior to the issuance to Owner of a building permit for Summit Place, shall be in a form acceptable to the City Attorney and the City Manager, and shall give the City the uncon- ditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied•first to additional administrative or legal costs associated with any such default and the repair of any deteriora- tion in improvements already constructed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are completed, the City -19- Engineer shall inspect them, and upon approval and written accep- tance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that ten percent (10 %) of the estimated cost shall be withheld until all proposed improvements are completed and approved by the City Engineer. Provided, that the withheld ten percent (10 %) which relates to the improvements described in Paragraph C(1) above shall be released by City upon completion and approval by the City Engineer of all such Paragraph C(1) improvements and regardless of the stage of completion of land- scape improvements described in Paragraph C(2) above: The Owner also agrees to deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suit- able guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. Furthermore, Owner hereby agrees to and does hereby warranty all such improvements to accepted standards of good workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. Inladdition to this warrant, the Owner shall obtain from its contractors customary warranties of good workmanship with the City as beneficiary, with respect t P o all improvements required by Paragraphs C(1) and C(2). -20- • w �. i It is the express .understanding of the parties that the pro- cedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforce- ment and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - Summit Place. Owner has no employee housing obligations in connection with the Summit Place component of the Project. 5. On -Site, Parkin - .Summit Place. Owner has no new on -site parking obligations in connection with the Summit Place component of the Project. Owner shall, however, preserve six (6) of the subsurface parking spaces which presently exist beneath Lot 2, Aspen Mountain Subdivision. D. .700 SOUTH GALENA 1. Site Improvements - 700 South Galena. The 700 South Galena component will be comprised of 4 four - bedroom residential units containing an aggregate of approximately 12,000 square feet of floor area. Prior to the issuance of a Certificate of Occu- pancy for 700 South Galena, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the 700 South Galena area: (a) Owner shall construct a new sidewalk, curb and gutter along the easterly side of South Galena Street­(as realigned) as it abuts Lot 4, Aspen Mountain Subdivision, and a P w M -21 new curb and gutter along the westerly side of South Galena Street (as realigned) as it abuts Lot 5, Aspen Mountain Subdivi- sion, in accordance with the Landscape Plan and pursuant to other normal City specifications. In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construction. (b) In the event it has not already done so, Owner shall relocate underground the above ground utility line which presently exists along the Easterly boundary of Lot 4, Aspen Mountain Subdivision, in accordance with the Utility Plan and pursuant to other normal City specifications. 2. Landscaping Improvements - 700 South Galena. In accor- dance with Section 24 -8.16 of the Municipal Code, all required landscaping for 700 South Galena shall substantially conform to the Landscape Plan. Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (e.g., pav- ing, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape features. Such landscaping shall be completed in a logical sequence -22- commensurate with the staging of improvements as contemplated in the 700 South Galena Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate Of Occupancy for 700 South Galena. It is the mutual understand- ing of the parties that a Certificate of Occupancy may in fact issue for 700 South Galena even though the landscaping improve- ments related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph D(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Paragraph D(3). 3. Financial Assurances - 700 South Galena. In order to secure the performance of the construction and installation of the site and landscaping improvements described in Paragraphs D(1) and D(2) above, and to guarantee one hundred per- cent (100 %) of the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $140,000 (as such amount may be updated from time to time as herein provided), Owner shall guarantee by irrevocable bond, sight draft or letter of commitment or credit from a financially responsible lender that funds in the amount of such estimated cost are held by it for the account of Owner for the construction and installation of the above - described improvements." Said guar- anty shall be delivered to the City prior to the issuance to -23- Owner of a building permit for 700 South Galena, shall be in a form acceptable to the City Attorney and the City Manager, and shall give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to par- tially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional administrative or legal costs associated with any such default and the repair of any deterioration in improvements already con- structed before the unused remainder (if any) of such guaranty is released to Owner. As portions of the required improvements are completed, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that ten percent (10 %) of the estimated cost shall be withheld until all proposed improvements are completed and approved by the City Engineer. Provided, that the withheld ten percent (100) which relates to the improvements described in Paragraph D(1) above shall be released by City upon completion and approval by the City Engineer of all such Paragraph D(1) improvements and regardless of the stage of completion of landscape improvements described in Paragraph D(2) above. -24- f The Owner also agrees to deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suit- able guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. Furthermore, Owner hereby agrees to and does hereby warranty all such improvements to accepted standards of good workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. In addition to this warranty, the Owner shall obtain from its contractors customary warranties of good workmanship with the City as beneficiary, with respect to all improvements required by Paragraphs D(1) and D(2). It is the express understanding of the parties that the Pro- cedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforce- ment and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housing - 700 South Galena. As an inducement to the City to approve the Aspen Mountain P.U.D. /Subdivision, Owner has agreed to and does hereby acknowledge its obligation to provide off -site employee housing for employees in connection with the 700 South.Galena component of the Project. Accordingly, Owner agrees that prior to the recording of this Agreement in the Pitkin County records, it shall already have deed - restricted units for employee housing as follows: -25- i. (a) Hunter Longhouse: For and in consideration of. (i) the making by Owner of a $250,000 subordinated equity capital investment in the Hunter Longhouse project, which funds have already been delivered and receipted for, and (ii) the recording in Book 5N7 at page 64A of the Pitkin County records of a "Ded- ication of Real Property to Employee Housing Restrictions and Guidelines" covering the Hunter Longhouse project executed by Owner, the City, the Board of Pitkin County Commissioners, and Aspen - Pitkin Employee Housing, Inc., Owner has been credited with housing a total of 56 employees. Owner's employee housing obli- gation for 700 South Galena is 9 employees. Accordingly, upon the City's issuance to the Owner of a valid and effective Certif- icate of Occupancy for 700 South Galena, 9 of said 56 employA.e housing credits shall be deemed automatically allocated to and consumed by the 700 South Galena component of the Project. 5. On -Site Parkin - 700 South Galena. Prior to the issu- ance of a Certificate of Occupancy for 700 South Galena, and as a condition precedent thereto, Owner shall have constructed sixteen (16) subsurface parking spaces and four (4) surface parking spaces within Lot 4 of the Aspen Mountain Subdivision. These subsurface and surface parking spaces represent the total number of on -site parking spaces which Owner is required to provide in connection with the 700 South Galena component of the.Project. -26- • E. HOTEL PHASE II The Hotel Phase II component will be comprised of not more than 190 lodge units (with the aggregate number of lodge units in Hotel Phases I and.II not to exceed 447), and not more than 14 residential units (with the aggregate number of residential units in Hotel Phases I and II not to exceed 14), the exact number of such Phase II units to be established in the building permit application for Hotel Phase II. The total F.A.R. floor area in this component shall not exceed 150,000 square feet (with the maximum aggregate F.A.R. floor area in Hotel Phases I and II to be 318,735 square feet), and the total non - F.A.R. floor area in this component shall not exceed 45,000 square feet (with the max- imum aggregate non- F.A.R, floor area in Hotel Phases I and II to be 150,000 square feet), subject to the understanding that the F.A.R. floor area maximum is exclusive of the approximately 26,783 square feet of covered port cocheres, colonnade between the chateaus and parking ramps to the underground garage which are contained in Hotel Phases I and II together. 1. Site Improvements - Hotel Phase II. Prior to the issu- ance of a Certificate of Occupancy for Hotel Phase II, and as a condition precedent thereto, Owner shall and hereby agrees to accomplish the following Section 20 -16 improvements in the Hotel Phase II area: -27- (a) If it has not already done so during the Hotel ..Phase I development, Owner shall relocate underground all elec- trical, telephone and cable television lines which presently exist above ground along vacated Dean Street between South Galena and dill Streets, in accordance with the Utility Plan and pursu- ant to other normal City specifications. (b) Owner shall construct a new curb and gutter along the entire Lot 5 boundary on Mill Street (and a new sidewalk along a portion thereof), a new sidewalk (and a curb and gutter if required) along the entire Lot 5 boundary on Durant Street, and a new sidewalk along the entire Lot 5 boundary on South Galena Street, in accordance with the Landscape Plan and pursuant to other normal City specifications.' In addition, Owner shall repair or replace any other existing (or newly installed) sidewalks, curbs or gutters that may be damaged during construc- tion. 2. Landscaping Improvements - Hotel phase II. In accor- dance with Section 24 -8.16 of the Municipal Code, all required landscaping for Hotel Phase II shall substantially conform to the Landscape Plan. Said Landscape Plan depicts and describes the nature, extent and location of all plant materials at mature sizes in appropriate relation to scale, species and size of existing plant material, flower and shrub bed definition, a plant material schedule with common and botanical names, sizes and quantities, proposed treatment of all ground surfaces (e.g., pav- ing, turf, gravel, terracing, etc.), irrigation water systems, decorative water features, retaining walls, fencing, benches, site lighting, and all other agreed -upon landscape features. Such landscaping shall be completed in a logical sequence commen- surate with the staging of improvements as contemplated in.the Hot-21 Phase II Construction Schedule, but in no event later than one (1) year after the date of issuance of the Certificate of Occupancy for Hotel Phase II. It is the mutual understanding of the parties that a Certificate of Occupancy may in fact issue for Hotel Phase Il,even though the landscaping improvements related thereto have not yet been completed, so long as the portion of the financial guaranty provided for in Paragraph E(3) hereof which covers the estimated cost of such unfinished landscaping remains available to the City pursuant to the terms of said Para- graph E(3). 3. Financial Assurances - Hotel Phase II. In order to secure the performance.of the construction and installation of the site and landscaping improvements described in Paragraphs E(1) and E(2) above, and to guarantee one hundred per- cent (100 %) of,the current estimated cost of such improvements, which estimated cost is approved by the City Engineer to be $1,500,000 (as such amount may be updated from time td time as as herein provided), Owner shall guarantee by irrevocable bond, -29- sight draft or letter of commitment or credit from a financially responsible lender that funds in the amount of such estimated cost are held by it for the account of Owner for the construction and installation of the above - described improvements. Said guar- anty shall be delivered to the City prior to the issuance to Owner of a building permit for Hotel Phase II, shall be in a form acceptable to the City Attorney and the City Manager, and shall give the City the unconditional right, upon default by the Owner, to withdraw funds as necessary and upon demand to partially or fully complete and /or pay for any of such improvements or pay any outstanding bills for work done thereon by any party, with any excess guaranty amount to be applied first to additional adminis- trative or legal costs associated with any such default and the repair of any deterioration in improvements already constructed before the unused remainder (if any) of such guaranty.is released to Owner. As portions of the required improvements are com- pleted, the City Engineer shall inspect them, and upon approval and written acceptance, he shall authorize the release from the guaranty delivered by Owner of the agreed estimated cost for that portion of the improvements except that ten percent (10 %) of the estimated cost shall be withheld until all proposed improvements are completed and approved by the City Engineer. Provided, that the withheld ten percent (10 %) which relates to the improvements described in Paragraph E(1) above shall be released by City upon -30- I completion and approval by the City Engineer of all such Para- graph E(1) improvements and regardless of the stage of completion of landscape improvements described in Paragraph E(2) above. The Owner also agrees to deliver to the City, upon demand therefor by the City Engineer, a maintenance bond or other suit- able guarantee for the repair or replacement of any existing municipal improvements damaged during construction of new improvements. Furthermore, Owner hereby agrees to and does hereby warranty all such improvements to accepted standards of good. workmanship for a period of one (1) year from and after acceptance thereof in writing by the City. In addition to this warranty, the Owner shall obtain from its contractors customary warranties of good workmanship with the City as beneficiary, with respect to all improvements required by Paragraphs E(1) and E(2). It is the express understanding of the parties that the pro- cedure set forth in Section M of this Agreement regarding non - compliance shall not be required with respect to the enforce- ment and implementation of the financial assurances set forth herein and required by Section 20 -16(c) of the Municipal Code. 4. Employee Housin - Motel Phase II. As an inducement to the City to approve the Aspen Mountain P.U.D. /Subdivision, Owner has agreed to and does hereby acknowledge its obligation to pro- vide off -site employee housing for employees in connection with -31- • _P T% the Hotel Phase II component of the Project. Accordingly, Owner agrees that prior to the recording of this Agreement in the Pitkin County records, it shall have been credited with the deed- restriction of sufficient employee housing units as follows: (a) Hunter Longhouse: For and in consideration of (i) the making by Owner of a $250,000 subordinated equity capital investment in the Hunter Longhouse project, which funds have already been delivered and receipted for,. and (ii) the recording in Book 5G0 at page 64L of the Pitkin County records of a "Ded- ication of Real Property to Employee Housing Restrictions and Guidelines" covering the Hunter Longhouse project °xecuted by Owner, the City, the Board of Pitkin County Commissioners, and Aspen - Pitkin Employee Housing, Inc., Owner has been credited with housing a total of 56 employees. Owner's employee housing obli- gation for Hotel Phase II is 20 employees. Accordingly, upon the City's issuance to the Owner of a valid and effective Certificate Of Occupancy for Hotel Phase II, the remaining 7 of said 56 employee housing credits shall' be deemed automatically allo- cated to and consumed by the Hotel Phase II component of the Project. (b) Commitment by Housing Authority and Company. For and in consideration of (i) the non - interest- bearing nature of Owner's equity investment in Hunter Longhouse, and (ii) the joint commitment made by the City /County Housing Authority and -32- Aspen - Pitkin Employee Housing, Inc., to apply such invested capital and the interest earned thereon to the development and /or acquisition (and the dedication to City of Aspen low and /or mod- erate income employee housing restrictions and guidelines), prior to the issuance of a Certificate of Occupancy for Hotel Phase II of the Project, of housing for an additional 13 employees, which commitment is embodied in an Agreement recorded in Book at Page 65�O of the Pitkin County records, Owner has been credited with housing 13 additional employees. Owner's remaining employee housing obligation for Hotel Phase II is 13 employees. Accord- ingly, upon the City's issuance to the Owner of a valid and effective Certificate of Occupancy for Hotel Phase II, all of said 13 employee housing credits shall be deemed automatically allocated to and consumed by the Hotel Phase II component of the Project. 5. On -Site Parkin - Hotel Phase II. Prior to the issu- ance of a Certificate of Occupancy for Hotel Phase II, and as a condition precedent thereto, Owner shall have constructed at least one hundred thirty nine (139) new subsurface Parkina spaces within or adjacent to Lot 5 of the Aspen Mountain Subdivi- sion. These spaces not only.satisfy the entire on -site parking requirement for Hotel Phase II (including the residential compo- nent thereof), but also replace with permanent subsurface spaces all one hundred twenty -one (121) temporary spaces which were -33- J9 provided in connection with Hotel Phase I of the Project. A total of three hundred sixty nine (369) permanent on -site parking spaces have now been provided by Owner in connection with Hotel. Phases I and II. F. TOP OF MILL (Premature - to be established by amendment to this.Agree- men t) . G. EFFECT OF FORMATION OF CCLC LODGE IMPROVEMENT DISTRICT As used in this Section G, the term "District" shall be interpreted to mean, without limitation, a special improvement district, a general improvement district, a special district, a downtown development authority, or an urban renewal authority. It is anticipated by the parties that a "District" will shortly be formed which will include within its boundaries the entice Project area as well as neighboring lands, and which will under- take responsibility for constructing or installing throughout the District certain of the streetscape and /or utility improvements which the Owner has herein committed to construct or install within the Aspen Mountain Subdivision. In an effort to promote, to the greatest extent possible, (i) uniformity in the design of District -wide improvements, (ii) coordination of construction scheduling between Owner and District, and (iii) a fair and equi- table arrangement between Owner and District for sharing the costs of constructing or installing District -wide improvements, Owner and City hereby agree as follows: -34- ...... .. n.r._ _ v J 1. Owner hereby reaffirms its agreement to participate in the District and to not protest the assessment or taxing basis and procedure adopted in connection therewith, provided only that such assessments or taxes accomplish an equitable allocation of the District's expenditures amongst the lands encompassed by the District. 2. City shall make its best efforts to accomplish the formation of the District as promptly as possible. 3. By way of illustration only, it is the Owner's view that some or all of the following- described streetscape and /or Utility improvements will quite likely be incorporated by the District into its District -wide improvement program: Sidewalks Upgrading of Utilities Curbs and Gutters Paving Street Lighting .Landscaping (Public Property) Storm Sewers Signage Street Trees Uridergrounding of Utilities 4. Owner hereby agrees that unless otherwise approved by City as provided below, Owner shall not commence construction or installation of any of the Section 20 -16 improvements to which Owner has herein committed prior to September 1, 1986. The only automatic exception to this prohibition shall be the under - grounding of utility lines (including storm sewers, sanitary -35- w r sewers, water, electrical, telephone, cable, etc.), which Owner and City mutually acknowledge must be accomplished during the earliest stages of Hotel Phase I construction. On or before September 1, 1986, the District shall notify the Owner in writing as to which of the improvements herein com- mitted to by Owner will in fact be constructed or installed by the District. Such notice shall be deemed to replace and supercede in their entirety all provisions of this Agreement which pertain to improvements to be undertaken by the District. Upon receipt of such notice, all further obligations-or responsibilities of Owner hereunder with respect to the improve- ment(s) so identified (other than Owner's responsibilities to the District) shall be deemed automatically and forever terminated, the construction or installation thereof shall become the exclu- sive responsibility of the District, and Owner shall be entitled to a release from the financial guaranty delivered to City of the agreed estimated cost of, such improvement(s). 5. If prior to September 1, 1986 Owner determines that construction scheduling makes it imperative that Owner commence construction or installation immediately of one or more Section 20 -16 improvements (other than utility undergrounding), Owner shall notify City in writing of such situation. At its next reg- ularly scheduled meeting, the City Council shall hear the matter and shall approve or disapprove Owner's petition to proceed with -36- the subject improvement(s), it being mutually understood that the .City Council shall not unreasonably withhold such approval if the Owner has shown that it will otherwise suffer substantial unnec- essary hardship or expense. 6. With respect to (i) utility undergrounding, (ii) any other improvements for which Owner receives City Council authori- zation to proceed pursuant to Paragraph 5 above, and /or (iii) any other Section 20 -16 improvements which have actually been con- structed or installed by Owner in conformity with this Agreement, in the event the District ultimately decides to construct or install such improvement(s) or any of them throughout the Dis- trict, one of the two following- described procedures shall apply (as determined by the District), to wit (a) Owner shall be reimbursed in full for its actual costs of constructing or installing such "duplicate" improvements, in which case Owner shall bear its normal share of the District's assessments with respect to such improvements, or (b) Owner shall not be reim- bursed for those costs, in which case none of the lands within the Aspen Mountain Subdivision shall be assessed for the Dis- trict's cost of constructing or installing such "duplicate" improvement(s) in those areas of the District lying outside said Subdivision. -37- • w r 'r' H. ADDITIONAL OWNER REPRESENTATIONS Owner hereby further expressly warrants and represents to the City as follows: 1. Owner will renovate and /or rehabilitate the existing Continental Inn and the lands surrounding the same substantially in accordance with the "Continental Inn Renovation Program" attached hereto as Schedule 2 and made a part hereof by this ref- erence. 2. No more than 447 lodge units shall ever be in operation or under construction as short -term accommodations within Aspen Mountain Subdivision at any one time. In this regard, Owner hereby commits to reduce the number of operational lodge units in the existing Continental Inn to a maximum of 447 less the number of lodge units contained in Owner's Hotel Phase I building permit application, such reduction to be accomplished by plumbing dis- connections and to occur no later than (and as a condition prece- dent to) the issuance to Owner of a building permit covering the lodge units in Hotel Phase I. 3. With respect to the various streets or portions thereof within the Project which were vacated by the City Council by Ordinance No. 14 (Series of 1985), Owner will at all times here- after honor and abide by the utility easement and emergency access rights reserved to the City in Sections o and 7, respec- tively, of said Ordinance. own �. ,r 4. All "Fire Protection Measures" described on Schedule 3 .attached hereto and made a part hereof by this reference will be installed and /or incorporated in Hotel Phases I and II or in 700 South Galena, as indicated. 5. All "Water and Energy Conservation Measures" described on Schedule 4 attached hereto and made a part hereof by this ref- erence will be installed and /or incorporated in Hotel,Phases I and II or in 700 South Galena, as indicated. 6. In order to minimize automobile travel and parking demand, all of the "Automobile Disincentives" described on Sched- ule 5 attached hereto and made a part hereof by this reference will be provided in connection with the Project as a whole. 7. If the City undertakes a study of the conceptual design alternatives for Rubey Park as a Transit Center, Owner will upon demand by City contribute to City the actual cost of such study up to the first $25,000 of that cost. Furthermore, Owner agrees that it will not protest an assessment for the development of Rubey Park as a Transit Center, provided only that the assessment procedure accomplishes an equitable allocation of the costs of. the development amongst the beneficiaries thereof. 8. Owner shall design and construct, at its sole expense on any site selected and obtained by Aspen Ski Club, a new build- ing (or a renovation and /or expansion of an existing building, at the Ski Club's option) containing.a maximum of 1500 square feet -39- E of finished space and 500 square feet of unfinished space, such finished space to be of at least equal or better quality and functionality than the clubhouse space which the Ski Club cur- rently occupies, in exchange for the termination by the Ski Club of its existing leasehold agreement with the City covering Lots 14 and 15 of the Capitol Hill Addition. In the alternative, should the Ski Club elect to participate with the City and /or other community organizations in the joint development and occu- pancy of a larger facility, Owner agrees to contribute to the Ski Club cash or certified funds (on an as- needed basis) in an amount equal to the dollar value of the design and construction commit- ment first set forth above. 9. management will be entrusted to an entity with the experience and qualifications necessary to operate a luxury resort hotel of the highest possible standards, while preserving a sensitivity to the nature and quality of these hotel facili- ties, to the immediate hotel neighborhood, and to the Aspen com- munity in general. Management will be particularly qualified to seek and promote transient, vacation, group meeting and confer- t ence business: 10. Each development component of the Project shall be con- structed substantially in accordance with the most current archi- tectural renderings therefor which have been submitted to the City in connection with the PUD /Subdivision process, as such -40- • renderings may hereafter be modified with the consent of the City. 11. Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a condition precedent thereto, Owner shall deliver to the City Manager a letter which designates and sets aside thirty (30) of the Hotel Phase I parking spaces for pur- poses of long -term automobile storage by specific employees housed at the Alpina Haus Lodge and the Copper Horse Lodge. Owner also agrees to continue to search for added parking at sites near these two housing projects. 12. Prior to the issuance of a Certificate of Occupancy for Hotel Phase I, and as a condition precedent thereto, Owner shall substantially remedy the "life safety" deficiencies in the Copper Horse Lodge and the Alpina Haus Lodge identified by Tom Voorhies and John Ostwald in their Memoranda to Jim Wilson of March 20 and March 21, 1985, respectively, copies of which Memoranda are attached hereto as Schedules 6 and 7, respectively, and made a part hereof by this reference. For its part, the City agrees that upon compliance by Owner with the foregoing obligations, the City will issue a written acknowledgment of such fact in recordable form if Owner so requests. -41- I. PERIODIC PROJECT REVIEWS Owner agrees that every six (6) months following the date of final City approval of this Project until the construction of all components thereof is complete, it will meet with the City Plan- ning Office for the purpose of informing the Planning Office as to its progress in developing the Project pursuant to the terms and provisions of this Agreement. If the Planning Office deems it necessary, the Planning Office will report to the Aspen Plan- ning and Zoning Commission on the outcome of one or more of these meetings. The Owner and the City recognize that these meetings are not opportunities for the Owner to avoid complying with the requirements of this Agreement but are for purposes of providing progress reports and developing mutally acceptable solutions to any problems that may be encountered during the construction period. J. PERMANENT CARE AND MAINTENANCE OF LANDSCAPING Owner agrees that it shall be the perpetual responsibility of the owner or owners from time to time of the lands within Lots 1, 2, 3, 4 or-5, respectively,.of the Aspen Mountain Subdivision to maintain, care for, and replace when necessary, all trees, shrubs, plants, and other landscaping features which may be planted or otherwise incorporated in each of said Lots pursuant to the Landscape Plan. -42- • w K. USE AND MAINTENANCE OF OPEN SPACE AND OTHER COMMON FACILITIES Owner shall occupy the Project Open Space for such uses as may from time to time be deemed appropriate by Owner, provided that such occupancy and uses shall at all times be in compliance with the then - applicable provisions of the Aspen Municipal Code. Pursuant to the provisions of Code Section 24 -8.19 (as applica- ble), Owner agrees that it shall be the perpetual responsibility of the owner or owners from time to time of the lands within Lots 1, 2, 3, 4 or 5, respectively, of the Aspen Mountain Subdivision to maintain in a clean and attractive condition and in a good state of repair all Open Space located within each of said Lots. L. RECONSTRUCTION OF DEMOLISHED UNITS It is mutually acknowledged and verified between City and Owner that pursuant to Municipal Code Section 24- 11.2(a), Owner has the right, following their demolition, to reconstruct within the Aspen Mountain PUD a total of 275 lodge units and a total of 40 residential units. The original location (source) of these reconstruction units is identified on Schedule 8 attached hereto and made a part hereof by this reference. Furthermore, the City hereby endorses the following dates for purposes of determining the start of the five year period for reconstruction of certain of the demolished units, to wit: -43- r � i (a) For the 17 lodge units in the south wing of the Blue Spruce, the five year period shall commence on the date of recording of this Agreement in the Pitkin County real property records; (b) For the 5 previously demolished residential units, the five year period shall commence on September 8, 1982. M. NON- COMPLIANCE AND REQUEST FOR AMENDMENTS OR EXTENSIONS BY OWNER In the event that the City Council determines that the Owner is not acting in substantial compliance with the terms of this Agreement and /or one or more of the Construction Schedules sub- mitted to the City Engineering Department in accordance herewith, the City Council may issue and serve upon the Owner a written order specifying the alleged non - compliance and requiring the Owner to remedy the same within such reasonable time as the City Council may determine. Within twenty (20) days of the receipt of such order, the Owner may file with the City Council either a notice advising the City Council that it is in compliance or a written petition requesting, a hearing to determine any one or both of the following matters: (a) Whether the alleged non - compliance exists or did exist, or (b) Whether a variance, extension of time or amendment to this Agreement should be granted with respect to any such non - compliance which is determined to exist. -44- Upon the receipt of such petition, the City Council shall .promptly schedule a hearing to consider the matters set forth in _ the cease and desist order and in the petition. The hearing shall be convened and conducted pursuant to the procedures nor- mally established by the City Council for other hearings. If the City Council determines by a preponderance of the evidence.that a non - compliance exists which has not been remedied, it may issue such orders as may be appropriate; provided, however, no order terminating any approval granted herein shall be issued without a finding of the City Council that substantial evidence warrants such action and affording the Owner a reasonable time to remedy such non - compliance. A final determination of non - compliance which has not been remedied or for which no variance has been granted may, at the option of the City Council, and upon written notice to the Owner, terminate any of the approvals contained herein which are reasonably related to the requirement(s) with which Owner has failed to comply. Alternatively, the City Coun- cil may grant such variances, extensions of time or amendments to this Agreement as it may deem appropriate under the circum- stances. In addition to the foregoing, the Owner or its successors or assigns may, on its own initiative, petition the City Council for a variance, an amendment to this Agreement or an extension of one or more of the time periods required for performance under the -45- Construction Schedules or otherwise. The City Council may grant such variances, amendments to this Agreement, or extensions of time as it may deem appropriate und.er the circumstances. The parties expressly acknowledge and agree that the City Council shall not unreasonably refuse to extend the time periods for per- formance indicated in one or more of the Construction Schedules if Owner demonstrates by a preponderance of the evidence that the reasons for the delay(s) which necessitate said extension(s) are beyond the control of the Owner, despite good faith efforts on its part to perform in a timely manner. N. PARK DEDICATION FEE In accordance with the provisions of Section 20 -18 of the Municipal Code, the City Council has elected to receive from Owner cash payments (in lieu of land dedications) in satisfaction of Owner's park dedication fee requirements arising from the Aspen Mountain Subdivision. The City and Owner have calculated the following park dedication fees for the various Project compo- nents, each of which amounts shall be paid by Owner to City in the form of cash or certified funds at the time that Owner t applies for a Building Permit for the related component: -46- • � `.,� , � =ter ,) ^rte• Development Component Hotel Phase I Summit Place 700 South Galena Hotel Phase II Top of Mill Park Dedication Fee $22,757.35 $ 6,195.72 $ 9,770. 17 $ -0- (Premature-to be established by amendment to this Agreement) 0. GENERAL PROVISIONS 1. Notice. Notices to be given to the parties to this Agreement shall be deemed given if personally delivered or if deposited in the United States Mail to the parties by registered or certified mail at the addresses indicated below, or at such other addresses as may be substituted upon written notice by the parties or their successors or assigns: City of Aspen: City Manager 130 South Galena Street Aspen, Colorado 81611 Owner: John H. Roberts, Jr. P.O. Box CC _Aspen, Colorado 81612 with a copy to: Holland & Hart 600 East Main Street Aspen, Colorado 81611 2. Binding Clause. The provisions hereof shall run with and constitute a burden upon the title to the subject property, and shall be binding upon and shall inure to the benefit of the r -47- 0 Owner and the City and their respective heirs, personal represen- tatives, successors and assigns. 3. Applicable Law. This Agreement shall be subject to and construed in accordance with the laws of the State of Colorado and the Municipal Code of the City of Aspen. 4. Severability. If any of the provisions of this Agree- ment or any paragraph, sentence, clause, phrase, word or.section or the application thereof in any circumstances is invalidated, such invalidity shall not affect the validity of the remainder of the Agreement and the validity of any such provision, paragraph, sentence, clause, phrase, word or section under any other circum- stances shall not be affected thereby. 5. Incorporation of Recitals and Written Submittals. The City and Owner hereby stipulate and agree that the "recitals" preceding this Agreement, and all of the written submittals (as amended and presently effective) made by Owner to City throughout the course of the Aspen Mountain PUD /Subdivision approval pro- cess, shall be deemed to be part of this Agreement and to be in- corporated herein by this reference. b. Entire Agreement; Amendment. This Agreement contains the entire understanding and agreement between the parties herein with respect to the transactions contemplated hereunder and may be altered or amended from time to time only by written instru- ment executed by each of the parties hereto. .; M y: 7. Acceptance of Plat; Ratification by Owner. Upon execu- tion of this Agreement by all parties hereto, the City agrees to approve and execute the Final Planned Unit Development Plat for the Aspen Mountain P.U.D. /Subdivision, and to accept the same for recordation in the Recording Office of Pitkin County, Colorado, upon payment of the recordation fee and costs to the City by Owner. For its part, Owner hereby ratifies and confirms each and every representation and public dedication made and set forth by Owner on said Plat. -49- IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. CITY: Pd� EIS' T:�y����% B A L Katn�r�y- ,Koch, City Clerk- THE CITY OF ASPEN, COLORADO a municipal corporation By William Stirling, "Mayor APPROVED AS TO FORM: l Z) S Paul J. Taddune, City At tor"e STATE OF COLORADO ) ) ss. - COUNTY OF PITKIN ) The 4oregoing instrument was acknowledged before me this oin day of C II)pr- , 1985, by William Stirling as Mayor and Kathryn S. Koch as City Clerk of the City of Aspen, State of Colorado. Witness my hand and official seal. My commission expires: W.a`•U,� �G r_0..• v 'A No tar y.Public -50- :;; OWNER: rI � " i.1�.'. JOHN H. ROBERTS, JR. STATE OF J (!p ) ss. COUNTY OF ,- ) The foreg ing instrument was acknowledged before me this day of �jQr 1985 by John H. Roberts, Jr. Witness my hand and official seal. My commission expires: 03)Q9 ,.�CdyOlO� 40 YL 11.,L� : a N 't ry Pub L- -51- SCHEDULE 1 LEGAL DESCRIPTION A TRACT OF LAND BEING ALL OF THE NORTH ASPEN INN APARTMENTS (A CONDOMINIUM), ALL OF THE MILLIONAIRE MILLSITE, U.S.M.S. 36208, PART OF DEANS ADDITION, PART OF CONNER'S ADDITION, PART OF CAPITOL HILL ADDITION, PART OF THE CONNER PLACER, U.S.M.S. 2535, PART OF THE LITTLE CHIEF LODE, U.S.M.S. 5850, PART OF THE BIG CHIEF LODE, U.S.M.S. 4237, PART OF THE "GANNON ENTRY ", PART OF ANTHONY ACRES SUBDIVISION, PART OF THE NORTHWEST ONE- QUARTER (1/4) OF SECTION 18, TOWNSHIP 10 SOUTH, RANGE 84 WEST OF THE SIXTH PRINCIPAL MERIDIAN, ALL OF THE ABOVE BEING SITUATED IN PITKIN COUNTY, COLORADO, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: LOT 1 BEGINNING AT THE NORTHWEST CORNER OF BLOCK 84, CITY AND TOWNSITE OF ASPEN; THENCE S 75 009111" E 120.62 FEET; THENCE S 14 050'49" W 125.00 FEET; THENCE S 75 009'11" E 150.78 FEET, TO A POINT ON THE WESTERLY LINE OF SOUTH MILL STREET; THENCE S 14 050'49" W 25.00 FEET; THENCE ALONG THE NEW MILL STREET R.O.W. REALIGNMENT, S 75 009'11" E 4.23 FEET AND S 14 050'49" W 407.26 FEET TO THE NORTHEAST CORNER OF THE ASPEN INN APARTMENTS (A CONDOMINIUM); THENCE N 75 000100" W 72.94 FEET TO THE NORTHWEST CORNER OF SAID ASPEN INN APARTMENTS; THENCE S 14 036'00" W 137.81 FEET TO THE SOUTHWEST CORNER OF SAID ASPEN INN APARTMENTS; THENCE N 75 000100" W 33.88 FEET TO A POINT ON THE EAST LINE OF BLOCK 5 OF SAID CONNER'S ADDITION; THENCE N 15 049'50" E 193.20 FEET TO THE SOUTHEAST CORNER OF BLOCK 3 OF SAID CONNER'S ADDITION; THENCE N 75 000100" W 172.72 FEET TO A POINT ON THE EASTERLY SIDE OF THE NEW MONARCH STREET R.O.W. REALIGNMENT; THENCE N 14 050'49" E 501.15 FEET TO THE POINT OF BEGINNING. LOT •2 BEGINNING AT THE SOUTHEAST CORNER OF BLOCK 5, CONNER'S ADDITION, ALSO BEING THE SOUTHEAST CORNER OF THE 700 MONARCH CONDOMINIUM; THENCE N 15 049'50" E 52.00 FEET ALONG THE EASTERLY y •r • • LINE OF SAID BLOCK 5; THENCE S 75 000100" E 33.88 FEET TO A POINT ON THE WESTERLY LINE OF THE ASPEN INN APARTMENTS (A CONDOMINIUM); THENCE S 45 000'00" E 5.48 FEET ALONG THE NORTH LINE OF THE LITTLE CHIEF LODE, M.S. 5850; THENCE S 75 000'00" E 67.71 FEET ALONG THE SOUTH LINE OF SAID ASPEN INN APARTMENTS; THENCE S 14 050'49" W 49.25 FEET ALONG THE WESTERLY LINE OF SOUTH MILL STREET; THENCE N 75 000100" W 107.22 FEET TO THE SOUTHEAST CORNER OF SAID BLOCK 5, THE POINT OF BEGINNING. LOT 3 BEGINNING AT THE SOUTHEAST CORNER OF THE ABOVE DESCRIBED LOT 2, ASPEN MOUNTAIN SUBDIVISION, SAID POINT BEING ON THE WESTERLY LINE OF SOUTH MILL STREET; THENCE S 14 050'49" W 222.88 FEET ALONG THE WESTERLY LINE OF SOUTH MILL STREET; THENCE S 74 055'00" E 142.00 FEET ALONG THE NORTH LINE OF A VACATED PORTION OF SOUTH MILL STREET AND ALONG THE NORTH LINE OF THE PROPERTY DESCRIBED IN BOOK 190 AT PAGE 110 OF THE RECORDS OF THE PITKIN COUNTY CLERK AND RECORDER; THENCE N 15 000'00" E 47.82 FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 12 ANTHONY ACRES SUBDIVISION; THENCE S 55 052'00" E 65.30 FEET ALONG THE SOUTH LINE OF SAID LOT 12; THENCE S 74 030'00" E 156.13 FEET ALONG THE SOUTH LINE OF LOTS 12, 13 AND 14, ANTHONY ACRES SUBDIVISION; THENCE S 45 000'00" E 21.58 FEET ALONG LINE 1 -2 BIG CHIEF LODE M.S. 4237; THENCE S 33 033'59" W 0.84 FEET ALONG THE WESTERLY LINE OF THE PROPERTY DESCRIBED IN BOOK 355 AT PAGE 495 OF THE RECORDS OF THE PITKIN COUNTY CLERK AND RECORDER; THENCE CONTINUING ALONG SAID LINE N 79 052'45" W 85.84 FEET, S 63 026'03" W 17.11 FEET, S 38 018'17" W 74.92 FEET, S 15 024'24" W 84.43 FEET, S 16 044'29" W 62.62 FEET, S02 020100" E 17.08 FEET, S 41 016'00" E 25.10 FEET; THENCE S 45 000100" W 103.65 FEET ALONG THE EASTERLY LINE OF THE BIG CHIEF LODE, M.S. 4237; THENCE N 70 037'00" W 332.70 FEET ALONG THE ASPEN CITY LIMIT LINE AS RECORDED IN BOOK 226 AT PAGE 143; THENCE S 45 000100" W 41.90 FEET ALONG THE BIG CHIEF AND LITTLE CHIEF LINE 1 -4; THENCE N 67 037'00" W 117.13 FEET; THENCE N 25 003'14" E 33.53 FEET TO A POINT ON SAID CITY LIMIT LINE; -2- • • THENCE N 70 037'00" W 200.77 FEET ALONG SAID LINE; THENCE N 45 000'00" E 281..64 FEET ALONG LINE 2 -3 LITTLE CHIEF LODE, M.S. 5850 TO A POINT ON THE SOUTH LINE OF THE MOUNTAIN QUEEN CONDOMINIUM AS RECORDED IN PLAT BOOK 4 AT PAGE 386 OF THE RECORDS OF THE PITKIN COUNTY CLERK AND RECORDER; THENCE CONTINUING ALONG THE SOUTHERLY AND EASTERLY LINE OF SAID CONDOMINIUM, S 83 051'10" E 82.12 FEET, N 06 008'50" E 5.07 FEET, N 37 013'00" E 105.83 FEET, N 20 012'11" E 110.73 FEET, N 45 °00'00" E 48.20 FEET, TO THE SOUTH LINE OF BLOCK 5, CONNER'S ADDITION, BEING ALSO THE SOUTH LINE OF 700 MONARCH CONDOMINIUM; THENCE S 75 000'00" E 145.33 FEET ALONG SAID SOUTH LINE AND THE SOUTH LINE OF THE ABOVE- DESCRIBED LOT 2, ASPEN MOUNTAIN SUBDIVISION, TO THE POINT OF BEGINNING. LOT 4 BEGINNING AT THE NORTHEAST CORNER OF LOT 15, BLOCK 2, ANTHONY ACRES SUBDIVISION; THENCE N 75 000100" W 114.85 FEET ALONG THE NORTH LINE OF SAID LOT 15; THENCE N 15 000'00" E 57.50 FEET ALONG.THE EAST LINE OF GALENA STREET; THENCE FOLLOWING SAID EAST LINE 75.46 ARC OF A CURVE TO THE RIGHT HAVING A THENCE N 62 000'00" E 44.99 FEET; THENCE 88.57 FEET ALONG:THE ARC OF A HAVING A RADIUS OF 107.62 FEET; THENCE ° ' 11 FEET ALONG THE RADIUS CF 91.99 FEET; CURVE TO THE LEFT S 75 09 11 E 20.52 FEET TO THE WESTERLY LINE OF TIPPLE WOOD SUBDIVISION; THENCE S 15 030'00" W 234.54 FEET ALONG SAID WESTERLY LINE TO THE POINT OF BEGINNING. LOT 5 BEGINNING AT THE NORTHEAST CORNER OF BLOCK 91, CITY AND TOWNSITE OF ASPEN; THENCE S 14 050'49" W 250.00 FEET-TO THE SOUTHEAST CORNER OF SAID BLOCK 91; THENCE FOLLOWING ALONG THE WESTERLY SIDE OF A NEW GALENA STREET RIGHT -OF -WAY REALIGNMENT THE FOLLOWING COURSES AND DISTANCES: 39.19 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 47.62 FEET, THE CHORD OF WHICH BEARS S 38 025'24" W 38.09 FEET, S 62 000'00" W 44.99 FEET, 124.68 FEET ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 151.99 FEET, THE CHORD OF WHICH BEARS S 38, 030'00" W 121.21 FEET, S 15 000'00" W 15.70 FEET TO THE NORTHEAST CORNER OF -3- LOT 4, ANTHONY ACRES SUBDIVISION; THENCE DEPARTING FROM SAID R.O.W. N 75 000100" W 100.00 FEET; THENCE N 74 045'30" W 93.53 FEET TO A POINT ON THE EASTERLY SIDE OF THE NEW MILL STREET R.O.W. REALIGNMENT; THENCE ALONG SAID EASTERLY LINE N 14 050'49" E 291.32 FEET TO THE SOUTHERLY LINE OF DEAN STREET; THENCE ALONG SAID SOUTHERLY LINE S 75 009'11" E 19.62 FEET; THENCE ALONG THE EASTERLY SIDE OF SOUTH MILL STREET N 14 050'49" E 150.00 FEET TO THE NORTHWEST CORNER OF BLOCK 91; THENCE S 75 009'11" E 270.80 FEET TO THE POINT OF BEGINNING. -4- - • ,r • L� SCHEDULE 2 CONTINENTAL INN RENOVATION PROGRAM (a) The old existing structures located west of the Continental Inn will be removed in the Spring of 1985. This area will become a surface parking lot for Hotel Phase I. The land north of the Inn (between Dean and Durant Streets) will serve as a staging area, parking, offices and housing (in existing struc- tures such as the Hillside Lodge) during the construction of Hotel Phase I. This site will be cleared of all structures and landscaped upon the opening of Hotel Phase I and will remain as open space until the new east wing of the hotel (Hotel Phase II) is constructed. : (b) The public spaces of the Inn will be cleaned, brightened up and repainted. The character of these internal public spaces will be improved through selective use of lighting, colors, carpets, furnishings, plants and other accents. Opera- tional plans will be developed to maximize the efficiency and productivity of such spaces as the meeting rooms, shops, the lobby lounge area and front desk. Some hotel functions will be relocated to certain guest rooms in the basement which are considered to be unrentable. (c) Exterior improvements will include cosmetic changes to the exterior, painting and landscaping. The roof will be repaired and equipment and mechanical repairs will be made. (d) Guest rooms will be cleaned, broken or torn items replaced and selective painting and grouting will be done. All damaged or broken furnishings will be repaired or replaced. A number of substandard guest rooms will be converted to office space, vending areas and storage areas. (e) New or improved life safety features will include:. peepholes and security signage, smoke detectors, security and fire safety signage, improved lighting, exit signs, employee training programs in fire safety, C.P.R. and first aid, improved water service and fire hydrants, security patrols and pre- ventative maintenance programs for all systems. ( f ) Depending on the results of feasibility studies for the timing of construction of Hotel Phase II, a minimum Continental Inn budget of $250,000 will be spent initially. If the Owner decides to leave the Continental .Inn in place for 5 years or longer, Owner commits to spend at least $1,200,000 on Continental Inn upgrading during the next 5 years. SCHEDULE 3 FIRE PREVENTION MEASURES I. HOTEL COMPONENT (Phases I and II): A. Automatic Sprinkler System (UBC Standard 38 -1). B. Class I Standpipes ( designed in accordance with UBC Standard 38 -3). C. Smoke Detection 1. In elevator lobbies (designed in accordance with UBC Chapter 51). 2. In all mechanical rooms. .3. Single station detectors shall be installed in all guest rooms to provide local alarm. 4. Return air risers (as per UBC Section 1807(d)(3). D. Elevators Will Conform to UBC Chapter 51, and will be Separated from Exit Access Corridors as Per UBC Section 1807(h) . E. Communications 1. A voice alarm system shall be installed throughout the facility. 2. A public address system shall be installed in public spaces. 3. A two way fire department communications sys- tems shall be installed in the central con- trol station and elevators, elevator lobbies and enclosed exit stairways. F. Standby Power Shall Be Provided For: 1. Exit Signs 2. Elevator Car Lighting 3. Voice Alarm and Communication Systems • t -2- 4. Fire Suppression and Detection Equipment 5. Central Control System G. A Central Control Station Shall Be Provided and Contain the Following: 1. Voice Alarm and Public Address System Panels. 2. Fire Department Communications Panel. 3. Fire Detection and Alarm System Annunciator Panels. 4. Status Indicators and Controls for Elevators. 5. Controls for Unlocking Stairway Doors. 5. Sprinkler Valve and Waterflow De.tector Dis- play Panels. 7. Standby Power Controls. 8. Telephone for Fire Department. II. 700 SOUTH GALENA COMPONENT: A. An Automatic Sprinkler System shall be Installed in the Garage as per Code Requirements. B. A Fire Alarm System as Required by Code. C. Code Conforming Exits and Doors. -2- SCHEDULE 4 WATER AND ENERGY CONSERVATION MEASURES I. HOTEL COMPONENT (Phases I and II): A. Water Conservation 1. Water saving shower heads, faucets and toilets will be specified B. Energy Conservation 1. Structure oriented to maximize passive solar gain. 2. Roof overhangs designed to permit winter sun in and keep summer sun out. 3. Solar glazing will be used on areas where shading devices cannot be used. North facing glazing will be minimized. 4. A large portion of the support facilities are located underground. 5. Multiple levels and double loaded corridors reduce energy consumption. 6. The hotel will have a computer controlled energy management system which will control heat, ventilation and air conditioning sys- tems (HVAC). 7. Waste heat from main boilers will be used to heat domestic water. 8. Insulation will exceed local requirements - Roof - R -38 Exterior Walls - R -19 Between Floors - R -11 Floor Over Garage - R -19 Slabs On -Grade - R -11 Below Grade Walls - R -20 M '" ® s II. 700 SOUTH GALENA COMPONENT: A. Water Conservation 1. No specific conservation measures repre- sented. B. Energy Conservation 1. Structures oriented to take advantage of solar gain. 2. South facing glazing and skylights will pro- duce passive solar gain and reduce lighting requirements. 3. Heating units will be state -of- the -art minimum energy imput systems. 4. Mechanical systems will be designed and insulated for increased efficiencies. 5. The thermal mass within the buildings will be insulated on the exterior to provide an internal thermal sink preventing excess tem- perature swing inside the structures. -2- SCHEDULE 5 AUTOMOBILE DISINCENTIVES 1. Four courtesy vans will be available within the PUD for owners and guests. 2. Valet parking will be employed by the hotel during peak occupancy periods (Christmas, President's Day,. Memorial Day, Labor Day and July 4th). 3. Hotel brochures will provide information on bus service and courtesy vans. 4. Hotel employee housing will be on a transit route and most will be located within walking distance of the hotel. 5. Transit passes will be purchased by the hotel for any employee needing one to commute to work. 5. A hotel shuttle will be provided for seasonal employees residing down valley. ASPENo&PITKIN j$'EGIONAL BUIL011* OEPARTMENT SCHEDULE 6 MEMO TO: Jim Wilson FROM: Tom Voorhies RE: Life Safety Inspection at the Copper Horse DATE: March 20, 1985 1. This inspection is intended to identify electrical hazards. It is not intended to determine if the installation complies with current or past codes. 2. Conductors for pendant (chain) front porch fixture need protection where they enter ceiling canopy to prevent abrasion. 3. Numerous extension cords are used for lights and lamps in the lounge and rooms of the old portion of building. Receptacle outlets need to be installed such that extension cords are not needed. 4. The old portion of building has an ungrounded electrical system. Receptacle outlets with ungrounded grounds have been installed at existing outlet locations. These must be grounded or replaced with ungrounded types. 5. There are ungrounded receptacle outlets in the kitchen. These must be grounded. 6. Exposed NM (Romex) cables in area above dropped ceiling in kitchen must be supported per N.E.C. code. 7. The electrical panel, located at rear of building, has a 240 v, #6 aluminum circuit protected by a 70 amp circuit breaker. This circuit breaker must be decreased to 50 amps. 8. Ground fault circuit -- interrupter type receptacles shall be installed, in the.bathrooms s required by Sec. 210 -3 (a)1 of the 1984 N.E.C. TEV:lo offices: 110 East Hallam Street Aspen, Colorado 81611 303/925 -5973 M 16 mail address : 506 East Main Street Aspen, Colorado 81611 z- _---_'.A SPEN *PITK1N., REGIONAL BUILD G OEPARTMENT MEMO TO: Jim Wilson FROM: John Ostwald RE: Life Safety Inspection at the Copper Horse DATE: March 20, 1985. 1. Combustible decorative wood is too close to the fire box of -the fire- place. Sec. 3707 (h) 1979 U.B.C. be placed within I Inch of fireplace, smoke chamber or chimney walls. Combustible material shall not be placed ryfthln 6 Inches of the fireplace opening. No such cotnbustlble materfal`within 12 Inches of the fireplace opening shall projict. more than X inch for each 1 -inch clearance from such opening. 2. Rooms not having a minimum area of 70 square feet, not to be used as habitable rooms. Sec. 1207 (b) 1979 U.B.C. (b) Floor Area. Every dwelling unit shall have at least one room which shall have not Icss than 150 square feet of floor area. Other habitable rooms except kitchens shall have an area of not less than 70 square feet. E!ficiency dwelling units shall comply with the requirements of Section 1203. 3. Bedroom above- the•first floor to have two qualifying exits. 1979 U.B.C. Exits Required Sec. 3302. (a) Number of Exits. Every building or usable portion thereof shall have at least one exit and shall have not less than two exits where required by Table No. 33•A. In.all occupancies, floors above the first story having an occupant load of more than 10 shall have not less than two exiu. 4. Boiler vent too close to roof. Section 906 (d) and Figure 1 1979 U.B.C. (d) Type B or BW. A Type B or BW gas vent shall terminate not less than 1 foot above the roof through which it passes nor less than 4 feet from any portion of the building which extends at an angle of more than IS degrees upward from the horizontal nor less than shown in Figure No. 1. mmmmmm mm �m1•��/ NMI ���t•��A�� offices: 110 East Hallam Street . Aspen, Colorado 81611 303/925 -5973 Sec. 3302 rnsil address: 506 East Main Street Aspen, Colorado 81611 t- • ) \ 5. Fire alarm system as required by Chapter 9 Sec. 13.307 (f) of the Aspen Municipal Code. (f) An insidd audible alarm is to be installed wherever an alarm is required by Section 13.307 of the Uniform nre Code or Section 3802 of the Uniform Building Code, except in single family, duplex, triplex, or fourplex residential dwellings. In the case of public assembly areas with an occupant load of one hundred (100). or more persons -or where, in the opinion of the building -official or the fire marshal, the installation of an inside alarm may result in creating panic, the alarm signal shall be installed in an attended area (e.g. projection booth, manager's office) from 6. The windows in the west side of the addition were illegal when installed by Table SA of the'1973 U.B.C. If the addition is closer than five feet to the property lines. then they would be illegal by Table SA of the 1979 U.B.C. We need a current survey to determine. TABLE N0. 5 -A— Continued Ile( ION( 1 I I Ilr•I•L .w.l .I•..I rr,nrl luwr... t 2 Now Iku Ih.n 10 I�t'1 ( IW.. rir�•hrM \ee rr r.wuletl wl. Isl J hvt ,"Wr"rd �,•.•.I.� l 1w, r,•wlr, u,.wurbrw•. 1►«•1, ttfi��wn..1.14./ �.rw IA.M t0 l+�• Not permitted less SecOon Irn Ih.w 2111rr•1 5rellnn twwu 1...._............._...... = t A,w„ Xr.e I.'..a.u..l 44. Ilu... :1 h.Y 3— D- ellings and lodging houses 1 hour less than ].feet It, I—I ,1 1 tMw1I L9. IIrYn .i InY _ \•� I`•w.l n..l b., Ilw..1 /.•• R See also 1- 14otris and apa•tment houses ` 1 hour less than 5 feet Not permitted less SecOon . Convents and monine.i n (etch accommodating momthan 10 persons) than S feet 1202 3— D- ellings and lodging houses 1 hour less than ].feet Not permitted less than 3 fm JO: to ,:. SCHEDULE 7 MEMO TO: Jim Wilson FROM: J4nIOstwald RE: Life Safety Inspection at the Alpina Haus 935 E. Durant DATE: March 21, 1985 I. The exits from the second floor balcony are not placed per Section 2303(c) of the 1979 U.B.C. (c) Arrangement of Exits. if only two exits are required they shall be placed a distance apart equal tc not less than one -half of the length of the maximum overall diagonal dimension of the building or area to be served _ measured in a straight line.between exits. 2. The spiral staircase serving rooms 32 -42 and the lounge area from the parking area on the eastwas not constructed as approved and is not legal for a multi - family occupancy R -1 per Section 3305(f) of the 1979 U.B.C. (0 Spiral Stairways. In Group R, Division 3 Occupancies and in private stairways within individual units of Group R. Division 1 Occupancies, : ,-iral stairways may be installed. Such stairways may be used for required nits when the area served is limited to 400 square feet. 3. The spiral staircase serving the lounge from the kitchen /dining area is not legal per Section 3305(f) fo the 1979 U.B.C. (0 Spiral Stairways. In Group R, Division.3 Occupancies and in private s:airw•ays within individual units of Group R, Division 1 Occupancies, spiral stairways may be installed. Such stairways may be used for required exits when the area served is limited to 400 square feet. 4. Basement apartment has illegal sliding exit door per Section 3304(e) of the 1979 U.B.C. (e) Width and Height. Every requlred exit doorway shall be of a size as to permit the installation of a door not less than 3 feet in width and not less •flan 6 feet 8 inches in height. When irutalled in exit doorways, exit doors shall be capable of opening at least 90 degrees and shall be so mounted that the clear width of the exitway is not less than 32 inches. In computing the exit width required by Section 3302 (b), the net dimension of the exitway shall be used. s 5. The laundry area and the basement apartment have only one exit each. They are required to have two by Section 3302(a) of the 1979 U.B.C. For purposes of this section, basements and occupied roofs shall be pro- vided with exits as required for stories. Floors ibove the second story and basements shall have not less than two exits except when such floors or basements are used exclusively for the service of the building. •r 6• The fireplaces in the lounge and dining area do not have large enough hearth extentions per Section 3707(k) fo the 1979 U.B.C. (1) Hearth Extensions. Hearths shall extend at least 16 inches from the front of, and at least g inches beyond each side of, the fireplace opening. Where the fireplace opening is 6 square feet or larger, the hearth extension shall extend at least 20 inches in front of, and at least 12 inches beyond each side of, the fireplace opening, 7. The hood over the fry grill in the kitchen is a residential type. It is required to be a commericial t y r of the he 1979 U.M.C. and would also be required on adomestic grill by the 1982 U.M.C. See- 2003. (a) Where Required. Hoods shall be Installed at or above all eommer;ial type deep fat fryers, broilers, fry grills, steam- jacketed kettles, hot -top ranges, ovens, barbecues, rotisseries, dishwashing machines and similar equipment which produce comparable amounts of steam, smoke, grease or heat in a food - processing establishment. For the purpose of this section a food - processing establishment shall include any building or por- don thereof used for the processing of food but shall not include a dwel- ling unit. 8. The receptacles and circuits in the community kitchen and the kitchens in apartment 42, 43 and the basement need to comply with Section 220 -3(b) (1) and 210 -52(b) of the 1984 N.E.C. (b) Small Appliance Branch Circuits — Dwelling Unit. (1) In addition to the number of branch circuits determined in accordance with (a) above, two or more 20- ampere small appliance branch circuits shall be provided for all receptacle outlets specified by Section 210.52 for the small appliance loads, including refrigeration equipment, in the kitchen, pantry, breakfast room, and dining room of a dwelling unit. Such circuits. whether two or more are used, shall have no other outlets. (b) Counter Tops. In kitchen and dining areas of dwelling units a receptacle outlet shall be installed at each counter space wider than 12 inches (305 mm). Counter top spaces separated by range tops, refrigerators, or sinks shall be considered as separate counter top spaces. Receptacles rendered inaccessible by appliances fastened in place or appliances occupying dedicated space shall not be considered as these required outlets. 9. All other receptacles in apartments 42, 43, and the basement need to cor,.ply with Section 210 -52(a) of the 1984 N.E.C. for maximum spacing. 210 -S2. Dwelling Unit Receptacle Outlets. (a) General for Provisions. ibrary In every kitchen, family room, dining room, living room, parlor, library, den, sun room, bedroom, recreation room, or similar rooms of dwelling units, receptacle outlets shall be installed so that no point along the floor line in any wall space is more than 6 feet (1.83 m), measured horizontally, from an outlet in that space, including any wall space 2 feet (610 mm) or more in width and the wall space occupied by sliding panels in exterior walls. The wall space afforded by fixed room dividers, such as freestanding bar - type counters, shall be included in the 6 -foot (1.83 -m) measurement. As used in this section a "wall space" shall be considered a. wall unbroken along the floor line by doorways, fireplaces, and similar openings. Each wall space 2 or more feet (610 mm or more) wide shall be treated individually and separately from other wall spaces within the room. A wall space shall be permitted to include two or more walls of a room (around corners) where unbroken at the floor line. Iva r op (FPN): The purpose of_this requirement is to minimize sht use of cords across doorways, fireplaces, and similar openints. Receptacle outlets shall, insofar as praeticable� be apsteed equal distances apart. Receptacle outlets in floors shall not be counted as part of the required number of receptacle outlets unless located close to the wall. The receptacle outlets required by this section shall be in addition to env . receptacle that is part of any lighting fixture or appliance, located within cabinets or cupboards, or located over 5!5 feet (1.68 m) above the floor. - 10. Working space at the electrical equipment in the basement shall be as required by Section 110 -16(a) and Table 110 -16(a) of the 1984 N.E.C. ARTICLE t 10— PEOUTREMEPITS FOR ELECTRICAL INSTALLATIONS 70.21 In addition:to the dimensions shown in Table-110-16(a), the work spaced shall not be less than 30 inches (762 mm) wide in front of the electric equipment. Tables 110- 16(a). wo►klnp Clearances Vonapa to Ground, Homlnalr Minimum clear oistance (reel) Condition 1 2 1 0.150 3 3 3 151.600 3 s 11. Each occupant must have access to the electrical disconnects as required by Section 230 -72(c) of the 1984 N.E.C. They may not be locked in the storage closet in the basement as they now are. (c) Access to OeeUpante. In a multiple - occupancy building, each occupant shall have access to his service disconnecting means. 12. General clean up of the laundry area to assure compliance with electrical and plumbing codes. 13. Installation of a fire alarm system per Chapter 9, Section 13.307(.9) of the Aspen Municipal Code. . (f) An inside audible alarm is to be installed wherever an alarm is required by Section 13.307 of the Uniform Fire Code or Section 3802 of the Uniform Building Code, except in single family, duplex, triplex, or fourplex residential dwellings. In the case of public assembly areas with an occupant load of one. hundred (100) or more persons or where, in the opinion of the building official or the fire marshal, the installation of an inside alarm may result in creating panic, the alarm signal shall -be installed in an attended area (e.g. projection booth, manager's office) from 14. Smoke detectors as required by Section 1210(a) of the 1979 U.B.0 may be incorporated into the alarm system. -3- I Fire- warning and Sprinkler Systems Sec. 1210. (a) Flre- warning Systems. Every dwelling unit and every guest room in a hotel or lodging house used for sleeping purposes shall be provided with smoke detectors conforming to U.B.C. Standard No. 43 -6. In dwelling units, detectors shall be mounted on the ceiling or wall at a point centrally located in the corridor or area giving access to rooms used for sleeping purposes. In an efficiency dwelling unit, hotel sleeping room and in hotel suites, the detector shall be centrally located on the ceiling of the main room or hotel sleeping room. Where sleeping rooms are on an upper level, the detector shall be placed at the center of the ceiling directly above the stairway. All detectors shall be located in accordance with ap- proved manufacturer's instructions. When actuated, the detector shall provide an alarm in the dwelling unit or guest room. 15. The boiler room requires a lhr. rated door as required by Section 1212 and should have a second exit as required by Section 3320(a) of the 1979 U.B.C. Special Hazards Sec. 3320. (a) Boller, Furnace and incinerator Rooms. Except in Group R. Division 3 Occupancies, any room containing a .boiler, furnace, _in. ci'nerator or other fuel -fired equipment must be provided with two means of egress when both of the following conditions exist: I. The area of the room exceeds 500 square feet, and 2. The largest piece of fuel -fired equipment exceeds 400,000 Btu per hour input capacity. If Iwo mcar,% of egress must be provided, one maybes fixed ladder. The means of egress must be separated by a horizontal distance not less than half the greatest horizontal dimension of the room. Where oil -fired boilers are used, a 6 -inch noncombustible sill (dike) shall be provided. There shall be no interior openings between a Group H Occupancy and an incinerator room. Every room containing a boiler or central heating plant in Division 1 Occupancies shall be separated from the rest of the building by not less than a one -hour fire- resistive occupancy separation. 16. Ground fault circuit - interrupter receptacles as required by Section 210 -8(a) and 210 -52(c) need to be installed. (a) Dwelling Units. (t) All 125 -volt, single - phase, 15- and 20- ampere receptacles installed in ' bathrooms shall have ground -fault circuit - interrupter protection for personnel. (c) Bathrooms. An dwelling units.at least one wall receptacle outlet shall tv installed in the bathroom adjacent, to the basin location. See Section 210.8(a)(1). JO: to -4- •. ,. 0 SCHEDULE 8 RESIDENTIAL AND LODGE UNIT VERIFICATIONS PROJECT I. RESIDENTIAL UNITS: A. Blue Spruce Lodge (North Wing) B. North Aspen Inn Apartments C. Hillside Lodge D. Townplace E. Chase F. Paas G. Melville #2 H. Black LEGAL /ADDRESS NUMBER CF UNITS Lots A -D, Block 84, 2 Townsite (303 E. Durant Avenue) Lots 7 & 8, Block 3, Conners 6 Add. (711 S. Mill Street) Lots 11 & 12, Block 3, Conners Add. (300 E. Juniata Street) 1 (320 E. Juniata Street) 1 Lots A &B, Block 91, Townsite 14 (403 E. Durant Avenue) Lot C, Block 91, Townsite 4 (409 E. Durant Avenue) Lots D -I, Block 91, Townsite 2 (415 E. Durant Avenue) Lot K, Block 91, Townsite 2 (602 S. Mill Street) Lots 17 & 18, Block 2 Dean's 1 Add. (680 S. Mill Street) Lots 3, 4 & 5, Capitol Hill 2 Add. (918 S. Mill Street)' I. Previously Demolished 1. 700 South Lots 16 & 17, Anthony Acres Galena (700 S. Galena Street) 3 2. Snowchase Lots 16 & 17, Capitol Hill Add. 1 Lot 21, Capitol Hill Add. 1 TOTAL: 40 TOTAL: -2- 275 t� ' i II. LODGE UNITS: A. Blue Spruce Lodge Lots A -D, Block 84, Townsite 15 (North Wing) (303 E. Durant Avenue) B. Aspen Inn Lot 6, Block 2, Conners Add. 65 Lots 1 -3, Dean's Add. and Lots 1 -6, Block 3, Conners Add. (611 S. Mill Street) C. Continental Inn Lots L -S, Block 91, Townsite 178 and Lots 1 -3, Block 1, Anthony Acres (515 E. Dean Street) D. Previously Demolished 1. Blue Spruce Lots 1 -5, Block 2, Conners Add. 17 Lodge (South (300 E. Lawn Street) Wing) TOTAL: -2- 275 -2- A. ; t �I rl T n.nr II. LODGE UNITS: A. Blue Spruce Lodge Lots A -D, Block 84, Townsite 15 (North Wing) (303 E. Durant Avenue) B. Aspen Inn Lot 6, Block 2, Conners Add." 65 Lots 1 -3, Dean's Add. and Lots 1 -6, Block 3, Conners Addw (611 S. Mill Street) C. Continental Inn Lots L -S, Block 91, Townsite 178 and Lots 1-3, Block 1, Anthony. Acres (515 E. Dean Street) D. Previously Demolished 1. Blue Spruce Lots 1 -5, Block 2, Conners Add. 17 Lodge (South (300 E. Lawn Street) Wing) TOTAL: 275 -2- A. ; t