HomeMy WebLinkAboutcoa.lu.tu.101 founders place 0068.2014 A I
THE CITY OF ASPEN
FILE I OF 3
City of Aspen Community Development Department
CASE NUMBER 0068.2014.ASLU
PARCEL ID NUMBERS TEMP USE
PROJECTS ADDRESS 101 FOUNDERS PLACE
PLANNER CHRIS BENDON
CASE DESCRIPTION TEMP USE FOR COA (JEFF
PANDARVIS)
REPRESENTATIVE COA
DATE OF FINAL ACTION 8.25.14
CLOSED BY ANGELA SCOREY ON: 9.3.14
ASUA
Permits
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i Main Custom Fields Routing Status -Fee Summary Actaans Routing
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Peftt type ;Aspen Land Use Permit DD68.2011.ASLU i
' Address 1101 FOUNDERS PL Apt'Suite 1Dt&105 e� l
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ASPEN State CO I Zip 81611
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Permit Information i
Masker permit Routing queue asluu I Applied 063'2 E2D11
Z Prnlect Status pan Approved
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Description APPLICATAION FOR FOR CITY OF ASPEN PROPERTY MAJIAGER FOR TENIP USE Issued
FEES ARE REQUESTED TO BEV IVED TO COivIDEV DIRECTOR
Closed/Final
Submitted JEFF PETdD00S 3091638 Clock Running Days n Expires I082 Da22015 �
Owner
Last name C7 OF ASPEtJ First name' 130 S GkLEC�JA ST
ASPECT CO 81611
Phone 910 98129;0 i Address is
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Applicant '
i Owner is applicant? ❑Contractor is applicant?
IT,
I a4 name CCTV OF ASPEN First name
1130 S GALENA ST
ASPEN CO 81611
Phony IiMl 987-2950 Cust= 129640 Addrec;
.' Lender
Last name First name
Phone } Address
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Fee Waiver Request Form
r �s AUG 13 2014
DiE CITY OF ASPF..\ City of Aspen
Community Development Department
This form must be submitted to the Community Development Director. You will be notified when a decision has been made.
For what fees are you requesting waiver? ❑ BUILDING V PLANNING
Applicant Name: -JEFF PfriJ big"V V1 5 (f-[1)) Contact Ph.# X70 :0763k
Department or Mailing address: ED 0 C
E-mail address: J�gJ),P l�c,�a I/'6 S (� J CST`! Of aS[�_NC'pLIJ _
Project address: If) I F0unJJ>1FRS pt_ACF 5-t5, ll)W + t7S
Project description: 9 P)� A b MIA1157WAT-10A) 0E-F>-CF—S
Fee Breakdown:
BUILDING&PLANNING
Fee Description Fee Amount Requested Fee Description Fee Amount Requested
Waiver Waiver
Energy Code Fee REMP Fee
Excavation Foundation Fee Zoning Review Fee
Inspection Fee Planning Application Fee I V0
Permit Fee HPC Application Fee
Plan Check Other:
Total of Request: $
Rea n for Waiver:
Cv7 City General Fund Department— 100% waiver
❑ City Capital or Other Department—50% waiver
❑ Waived or decreased by City Council (please provide documentation)
❑ Other— Please explain with attached letter of request
Applica s ature Date
For office use only: j
APPROVE ❑ DISAPPROVED Total fees waived. $
14, a
Community evelop ent Director Da'taOV
MEMORANDUM
TO: Mayor Skadron and City Council
FROM: Chris Bendon, Community Development Director
RE: City of Aspen Police Temporary Use Permit—Public Hearing
Obermeyer Place, 101 Founders Place Units 104 & 105
Resolution No._, Series of 2014.
DATE: August 25, 2014
LAND USE REQUEST: APPLICANT:
The Applicant is requesting a three year City of Aspen.
temporary use approval to locate a portion Asset Department, Jeff Pendarvis.
of City of Aspen Police operations to Police Department, Chief Richard Pryor.
Obermeyer Place. These commercial
spaces would house administrative "back- � F e
of-house" functions of the department
while the County Courthouse would remain ,
as the public interface and Police
Headquarters.
STAFF RECOMMENDATION:
Approval, with conditions.
LOCATION:
Obermeyer Place "crescent building"
101 Founders Place, Units 104 & 105
LEGAL DESCRIPTION:
Parcel IDs 2737-073-05-010 and 2737- �
073-05-011.
SUMMARY:
The City of Aspen has applied for a temporary use permit to locate a portion of the Police
Department operations within-two commercial spaces at Obermeyer Place - 101 Founders
Place, Units 104 and 105. The spaces are on the west side of the project on the plaza level
within the "crescent building."
® Obermeyer Place is zoned a combination of Service Commercial Industrial, SCI, and
Neighborhood Commercial, NC. NC zoning permits office and civic uses, SCI does not. Of
the two commercial units in question, one is zoned SCI and the other is zoned NC. The
spaces are currently occupied by Sailor Insurance.
The request will permit the Police Department to expand some administrative functions
beyond the existing cramped space within the County Courthouse. The current space is
borderline dysfunctional, especially during events when separation between certain critical
operations are not possible.
The Police Department intends to use this space for administrative "back-of-house"
functions. The public interface of the department will remain located in the Courthouse.
The request is for three years, with an annual City Council extension thereafter. The future
location of the Police Department is uncertain. The County has indicated that the Courthouse
will be needed for County functions and the City must eventually vacate the building. The
City has undertaken-a Tong-range facility-planning-process with Police facilities being a
priority. The 3+ timeframe will immediately improve functionality of existing facilities
while long-range plans are refined.
The Obermeyer Place commercial spaces are suitable for this use. Many of the businesses on
the plaza level are professional services and the addition of the Police administrative services
is compatible with this mix. The location enjoys simple access to other Police facilities and
is expected to provide operational ease for the department. Some minor improvements may
be necessary to optimize the space.
Staff is recommending approval of the temporary use request.
RECOMMENDATION:
Staff is recommending approval, with conditions.
RECOMMENDED MOTION:
"I move approval of Resolution No. , Series of 2014, approving a temporary use for
Aspen Police Department to operate within Obermeyer Place."
CITY MANAGER COMMENTS:
ATTACHMENTS:
Resolution No. _, Series 2014.
A—Application
RECEPTION#: 613268, 09/0512014 at
09:25:36 .AM,
1 OF 2, R $16.00 Doc Code RESOLUTION
Janice K.Vos Caudill, Pitkin County, CO
RESOLUTION NO. 103
(Series of 2014)
A RESOLUTION OF THE ASPEN CITY COUNCIL GRANTING A
TEMPORARY USE PERMIT FOR THE ASPEN POLICE DEPARTMENT TO BE
LOCATED AT 101 FOUNDERS PLACE, UNITS 104 & 105, ASPEN, COLORADO.
ParcellD:2737-073-05-010, 2737-073-05-011
WHEREAS, pursuant to Section 26.450 of the Aspen Municipal Code, the Applicant,
The City of Aspen, a municipal corporation, has submitted an application for a Temporary Use
Permit to operate a portion of the Police Department functions at 101 Founders Place, Units 104
& 105; and,
WHEREAS, the location is a commercial condominium partially located in the Service
Commercial Industrial Zone District and partially located in the Neighborhood Commercial
Zone District; and,
WHEREAS, the Community Development Department has reviewed the temporary use
application, finds it to be in compliance with the review criteria of Chapter 26.450, and
recommends that the City Council approve the temporary use permit; and,
WHEREAS, the Aspen City Council has reviewed and considered the temporary use
request under the applicable provisions of the Municipal Code as identified herein, has reviewed
and considered the recommendation of the Community Development Director, and has taken and
considered public comment at a public hearing; and,
WHEREAS, City Council finds that the proposed temporary use is consistent with the
character and existing land uses of the surrounding parcels and neighborhood and that granting
the temporary use permit will not adversely impact the community or the neighborhood; and,
WHEREAS, the City Council finds that the temporary use request meets or exceeds all
applicable development standards and that the approval of the proposal, with conditions, is
consistent with the goals and elements of the Aspen Area Community Plan; and,
WHEREAS, the City Council finds that this Resolution furthers and is necessary for the
promotion of public health, safety, and welfare.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF ASPEN,
COLORADO,AS FOLLOWS:
Section 1: Temporary Use
In accordance with Section 26.450.020 of the Aspen Municipal Code, the City Council of the
City of Aspen, Colorado, does hereby grant a temporary use permit to operate a portion of the
City of Aspen Police Department at 101 Founders Place, Units 104 and 105 for a period of three
Resolution No. 103, Series 2014. Page 1
years starting approximately September 1, 2014, or as otherwise defined in a lease agreement
between the City of Aspen and the property owner.
Section 2: Approval Conditions
1. Signage allowance shall be in accordance with City of Aspen Signage regulations AND
applicable regulations of the Obermeyer Place Condominium Association.
2. Upon conclusion of the initial three year temporary use time period, annual extensions of
the temporary use may be granted by motion of City Council. Extensions shall not
require additional public hearing unless so determined by the City Council.
Section 3: Severability
This Resolution shall not affect any existing litigation and shall not operate as an abatement of any
action or proceeding now pending under or by virtue of the ordinances repealed or amended as
herein provided, and the same shall be construed and concluded under such prior ordinances.
If any section, subsection, sentence, clause, phrase, or portion of this Resolution is for any reason
held invalid or unconstitutional in a court of competent jurisdiction, such portion shall be deemed a
separate, distinct and independent provision and shall not affect the validity of the remaining
portions thereof.
FINALLY,Adopted,Passed, and Approved on this 25th day of August, 2014, at a duly noticed
public hearing before City Council.
APPROVED AS TO FORM: APPROVED AS TO NTENT:
mes R. True, City Attorney Steven Sk on, Mayor
A EST:
iJbt4
inda Manning, City Clerk
Resolution No.103, Series 2014. Page 2
AFFIDAVIT OF PUBLIC NOTICE
REQUIRED BY SECTION 26.304.060 (E),ASPEN LAND USE CODE
ADDRESS. F PRO ERT r
Q � f �Gt IQCII/)Aspen, CO
SCHEDULED PUBLIC HE D TE:
STATE OF COLORADO )
ss.
County of Pitkin )
I
/U i (name, please print)
being or representing an Applicant to e ity of Aspen, Colorado, Hereby personally
certify that I have complied with the public notice requirements of Section 26304.060
(E) of the Aspen Land Use Code in the following manner:
V Pv_blication of notice: By the publication in the legal notice section of an official
paper or a paper of general circulation in the City of Aspen at least fifteen (15)
days prior to the public hearing. A copy of the publication is attached hereto.
Posting of notice: By posting of notice, which form was obtained from the
Community Development Department, which was made of suitable, waterproof
materials, which was not less than twenty-two (22) inches wide and twenty-six
(26) inches high, and which was composed of letters not less than one inch in
height. Said notice was posted at least fifteen (15) days prior to the public hearing
on the day of , 20 , to and including the date and time
of the public hearing. A photograph of the posted notice (sign) is attached hereto.
Mailing of notice. By the mailing of a notice obtained from the Community
Development Department, which contains the information described in Section
26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen (15) days prior to
the public hearing, notice was hand delivered or mailed by first class postage
prepaid U.S. mail to all owners of property within three hundred (300) feet of the
property ;subject to the development application. The names and addresses of
property owners shall be those on the current tax records of Pitkin County as they
appeared no more than sixty (60) days prior to the date of the public hearing. A
COPY of t1?e owners'and governmental agencies so noticed is attached hereto.
Neighborhood Outreach: Applicant attests that neighborhood outreach,
summarized and attached, was conducted prior to the first public hearing as
required in Section 26.304.035, Neighborhood Outreach. A copy of the
neighborhood outreach su777771a7y, including the 7nethod of public notification and
a copy of any documentation that was presented to the public is attached hereto.
(continued on next page)
Mineral Estate Owner Notice. By the certified mailing of notice, return receipt
requested, to affected mineral estate owners by at least thirty (30) days prior to the
date scheduled for the initial public hearing on the application of development.
The names and addresses of mineral estate owners shall be those on the current
tax records of Pitkin County. At a minimum, Subdivisions, SPAs or PUDs that
create more than one lot, new Planned Unit Developments, and new Specially
-Planned Areas, are subj act to this notice requirement.
Rezoning or text amendment. Whenever the official zoning district map is in any
way to be changed or amended incidental to or as part of a general revision of this
Title, or whenever the text of this Title is to be amended, whether such revision be
made by repeal of this Title and enactment of a new land use regulation, or
otherwise, the requirement of an accurate survey map or other sufficient legal
description of, and the notice to and listing of names and addresses of owners of
real property in the area of the proposed change shall be waived. However, the
proposed zoning map shall be available for public inspection zn the planning
agency during all business hours for fifteen (15) days prior to the public hearing
on such amendments.
Signature
The for oin "Affidavit of Notice" vlas acknow ed ed before e thisgTay
of
20 f by r/L
PUBLIC NOTICE
RE:CITY OF ASPEN POLICE OFFICES
TEMPORARY USE AT OBERMEYER PLACE- AESS
101 FOUNDERS PLACE UNITS 104 AND 105; WITNESS -D OFFICIAL SEAL
ASPEN,CO.
NOTICE IS HEREBY GIVEN that a public hearing
will be held on Monday,August 25,2014,at a
meeting to begin at 5:00 p.m.before the Aspen ex es: v
City Council,Council Chambers,City Hall,130 S.
Galena St.,Aspen,to consider an application sub-
mitted by the City of Aspen Asset Management
Department for the property located at 101
Founders Place Units 104 and 105,Aspen,CO,al-
so known as Obermeyer Place,Parcel IDs
2737-073-05-010 and 2737-073-05-011.The appli-
cant is requesting a Temporary Use approval for
offices of the City of Aspen Police Depar tment. A
portion of the Police operations would be located
here for three years,with possible annual exten-
sions thereafter. For further information,contact
Chris Bandon at the City of Aspen Community De- NOTARY PUBLIC
velopment Department,130 S.Galena St.,Aspen,
co
chri , ( 970 ) 429 . 2765 , STATE OF COLORADO
s.bendon acityofaspen.com.
$/Stevenonadron,Mayor TENTS AS APPLICABLE: NOTARY ID 20144000722
Aspen City Council COMMISSION EXPIRES JAN.09,2018
Published in the Aspen Times on August 7,2014 J 9l N
(10437488) JSTED NOTICE (SIGN)
A 1A v i.. .-....-.« +a v 1 JL LlL A
• LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED
BY MAIL
• APPLICANT CERTIFICATION OF MINERAL ES TAE OWNERS NOTICE
AS REQUIRED BY C.R.S. §24-65.5-103.3
COMMUNITY DEVELOPMENT DEPARTMENT
z
r":,i
Agreement to Pay Application Fees
Anagreement between the City of Aspen ("City")and
pry A - TES Phone No.: � ' 4d'2ryl
Owner("I"): J T7 f�$�f,✓ Email: 9a 1
D-��CIr- eo
Address of 10 1 �Du�DEQs �� Billing 3
Property: Address: S Gi4�En1 Ar S l�
(subject of S to<TE.s 10 y (send bills here)
application) S�C'� �!� �j/611
I understand that the City has adopted, via Ordinance No. , Series of 2011, review fees for Land Use applications
and the payment of these fees is a condition precedent to determining application completeness. I understand
that as the property owner that I am responsible for paying all fees for this development application.
For flat fees and referral fees: I agree to pay the following fees for the services indicated. I understand that these
flat fees are non-refundable.
$0 flat fee for Select Dept $0 flat fee for Select Dept
$ 0 flat fee for Select Dept $ 0 flat fee for Select Review
For deposit cases only: The City and I understand that because of the size, nature or scope of the proposed
project, it is not possible at this time to know the full extent or total costs involved in processing the application.
understand that additional costs over and above the deposit may accrue. I understand and agree that it is
impracticable for City staff to complete processing, review, and presentation of sufficient information to enable
legally required findings to be made for project consideration, unless invoices are paid in full.
The City and I understand and agree that invoices mailed by the City to the above listed billing address and not
returned to the City shall be considered by the City as being received by me. I agree to remit payment within 30
days of presentation of an invoice by the City for such services.
I have read, understood, and agree to the Land Use Review Fee Policy including consequences for non-payment.
I agree to pay the following initial deposit amounts for the specified hours of staff time. I understand that payment
of a deposit does not render an application complete or compliant with approval criteria. If actual recorded costs
exceed the initial deposit, I agree to pay additional monthly billings to the City to reimburse the City for the
processing of my application at the hourly rates hereinafter stated.
$ deposit for hours of Community Development Department staff time. Additional time
above the deposit amount will be billed at$325 per hour.
$ 0 deposit for 0 hours of Engineering Department staff time. Additional time above the deposit
amount will be billed at$265 per hour.
1
City of Aspen: P. caner:
C P 5 r, )
Chris Bendon
Community Development Director Name:
City Use: Title: I 6t4�,
Fees Due: $ Received: $
2013 City of Aspen 130 S. Galena St. 1 (970) 920-5090
ATTACHMENT 2—LAND USE APPLICATI A
PROJECT: k
Name: PPD 15 TA t)T10tOff-ICE-5
Location: i v I tk rJ bER D
5 11.ACjC Jk TE3 OW
(Indicate street address,lot&block number,legal description where appropria te)
Parcel ID#(REQUIRED)
APPLICANT:
Name: C,I T�
Address: �` ccT I &t4 k S 7-
Phone#: 9,Z0 — DO
REPRESENTATIVE:
Name: J D xR✓/ /�,— p
Address: Q — LE ' ! /Fit/ C fl l
Phone#: T70 3,q5- 76
TYPE OF APPLICATION: (please check all that apply):
❑ GMQS Exemption ❑ Conceptual PUD Temporary Use
❑ GMQS Allotment ❑ Final PUD(&PUD Amendment) ❑ Text/Map Amendment
❑ Special Review ❑ Subdivision ❑ Conceptual SPA
❑ ESA—8040 Greenline,Stream ❑ Subdivision Exemption(includes ❑ Final SPA(&SPA
Margin,Hallam Lake Bluff, condominiumization) Amendment)
Mountain View Plane
❑ Commercial Design Review ❑ Lot Split ❑ Small Lodge Conversion/
Expansion
❑ Residential Design Variance ❑ Lot Line Adjustment ❑ Other:
❑ Conditional Use
EXISTING CONDITIONS: (description of existing buildings,uses,previous approvals,etc.)
DFF(cl 5 �Z_oriED Sc 1
PROPOSAL: (description of proposed buildings,uses,modifications,etc.)
QFF10E 5 VLicF PAIA)15-FR,4TioiAJ
Have'you attached the following? FEES DUE:$
It.-I° e-Application Conference Summary
R Attachment#1,Signed Fee Agreement
❑ Response to Attachment#3,Dimensional Requirements Form
❑ Response to Attachment#4,Submittal Requirements-Including Written Responses to Review Standards
❑ 3-D Model for large project
All plans that are larger than 8.5"X 11"must be folded. A disk with an electric copy of all written text
(Microsoft Word Format)must be submitted as part of the application. Large scale projects should include an
electronic 3-D model. Your pre-application conference summary will indicate if you must submit a 3-D model.
1UG 13 2014
THE CITY"OF A Pr ti
Community Development Department
Internal Funds Transfer
Date: 108/13/2014
Department: Community Development
Amount Requested: $1,300.00
Account Number:
Permit Number:
Permit Address: 101 Founders Place, Suites 104&10
Permit Description: Change in Zoning to allow for APD administration offices
Requested By: Jeff Pendarvis
Received By:
MEMORANDUM
TO: City of Aspen Community Development Department
FROM: Jeff Pendarvis, Capital Asset Project Manager
THRU: Scott Miller, Capital Asset Director
DATE OF MEMO: August 20, 2014
MEETING DATE: August 25, 2014 Consent Agenda
RE: Request for temp use. APD lease space 101 Founders Pl. Suite
104 and 105
REQUEST FOR TEMP: Staff requests Council approve the 36 month lease for Aspen Police
Department use at 101 Founders Pl. suite 104 and 105 as presented, owned by OBP, LLC. A
temporary using the following :
26.450.030. Criteria applicable to all temporary.uses.
When considering a development application for a temporary use or an insubstantial temporary
use, the Community Development Director or City Council shall consider, among other pertinent
factors, the following criteria as they or any of them, relate thereto:
A. The location, size, design, operating characteristics and visual impacts of the proposed
use. The size of this unit is not changing from the current configuration.
B. The compatibility of the proposed temporary use with the character, density and use of
structures and uses in the immediate vicinity. The compatibility of the use of this space for APD
operations have been approved by the HOA and is constant with other uses in the immediate
vicinity.
C. The impacts of the proposed temporary use on pedestrian and vehicular traffic and traffic
patterns, municipal services, noise levels and neighborhood character. There will be no impacts
from the proposed temp use on pedestrian and vehicular traffic patterns on services and noise
levels on the neighborhood.
D. The duration of the proposed temporary use and whether a temporary use has previously
been approved for the structure, parcel, property or location as proposed in the application. The
duration is for 36 months with three 12 month options.
E. The purposes and intent of the zone district in which the temporary use is proposed.
APD Operations.
F. The relation of the temporary use to conditions and character changes which may have
occurred in the area and zone district in which the use is proposed. No changes in character are
anticipated.
G. How the proposed temporary use will enhance or diminish the general public health,
safety or welfare. The Proposed use will not change the general public health, safety or welfare
of the neighborhood.
Page 1 of 1
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This map/drawing/image is a graphical representation RtO GRANDE PL n
of the features depicted and is not a legal
representation. The accuracy may change Roan�g.Fork-River
depending on the enlargement or reduction.
Copyright 2014 Aspen/Pitkin GIS
81 1320148:21:37 AM C:\GIS\temp\P.ug14\ObermeyerPl.m d
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OBERMEYER PLACE
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ATTACHMENT 3
DIMENSIONAL REQUIREMENTS FORM
Project: Pb A1>ot i 1)1 smp4Tioo� OFf/c.,F-5
Applicant: G i v a
Location: iy/ rya.owx- /,ACE 5 >Tr%g /0H /PS
Zone District:
Lot Size:
Lot Area:
(for the purposes of calculating Floor Area,Lot Area may be reduced for areas
within the high water mark,easements, and steep slopes. Please refer to the
definition of Lot Area in the Municipal Code.)
Commercial net leasable: Existing: Proposed:
Number of residential units: Existing: Proposed:
Number of bedrooms: Existing: Proposed:
Proposed% of demolition(Historic properties only): A/ /f-
DIMENSIONS:
Floor Area: Existing: Allowable: Proposed:
Principal bldg. height: Existing: Allowable: Proposed:
Access. bldg. height: Existing: Allowable: Proposed:
On-Site parking: Existing: Required: Proposed:
% Site coverage: Existing: Required: Proposed:
% Open Space: Existing:-Required: Proposed:
Front Setback: Existing: Required: Proposed:
Rear Setback: Existing: Required: Proposed:
Combined F/R: Existing: Required: Proposed:
Side Setback: Existing: Required: Proposed.
Side Setback: Existing: Required: Proposed:
Combined Sides: Existing: Required: Proposed:
Distance Between Existing Required: Proposed:
Buildings
Existing non-conformities or encroachments:_ /rtJ'f�
Variations requested:
ATTACHMENT 4- MATRIX OF LAND USE APPLICATION REQUIREMENTS
For application requirements, refer to the numbers in the in second column. These numbers correspond to the key on page 9. For multiple
reviews, do not duplicate information. All application materials must be complete and submitted in collated packets. All drawings must include
an accurate graphic scale
Type of Review App.Submission Requirements Process Type(See Process Number of Required Submittal
See key on page 9. Description in Att.S) Packets
8040 GREENLINE REVIEW 1-7 8-10,35 P&Z 10
8040 GREENLINE EXEMPTION 1-7 8-10 35 ADMINISTRATIVE REVIEW 2
STREAM MARGIN REVIEW 1-7,8, 10, 11, 12,35 P&Z OR ADMINISTRATIVE(Based 2 for 0 Admin.,10 for P&Z
on Location
STREAM MARGIN EXEMPTION 1-7, 8, 10 11 12,35 ADMINISTRATIVE REVIEW 2 "
HALLAM LAKE BLUFF REVIEW 1-7, 13, 14,35 P&Z 10
MOUNTAIN VIEW PLANE 1-7 155 16,35 P&Z 10
CONDITIONAL USE 1-7, 9, 17 P&Z 10
SPECIAL REVIEW* 1-7, Additional Submission Req.depend P&Z 10
on nature of the Special Review Request.
SUBDIVISION 1-7, 18, 19,20121,35 P&Z,AND CITY COUNCIL 20
EXEMPT SUBDIVISION 1-7, 18, 19,20 21,35 CITY COUNCIL 10
LOT LINE ADJUSTMENT 1-7,22 ADMINISTRATIVE REVIEW 2
LOT SPLIT 1-7 22 CITY COUNCIL 10
CODE AMENDMENT 1-4, 7,23 P&Z,AND CITY COUNCIL 20
WIRELESS TELECOM. 1-7, 16,24 25, 26,27,35 ADMIN.OR P&Z 2 for Admin.,10 for P&Z
SATELTTE DISH OVER 24"IN 1-7 ADMIN.OR P&Z 2 for Admin.,10 for P&Z
DIAMETER
REs.DESIGN STANDARDS 1-7, 9,28, 29,30 P&Z OR DRAC 10
VARIANCE
GMQS EXEMPTION* 1-7,Additional Submission Req.depend ADMIN.,OR P&Z,AND/OR CC 2 for Admin.,10 for P&Z,20 for P
on nature of the Exemption Request. (BASED ON EXEMPTION TYPE) &Z and CC
CONDOMINIUMIZATION 1,31 ADMINISTRATIVE 2
PUD 1-7,32,33,35 CONCEPTUAL—P&Z,AND CC 20 for P&Z and CC(Submit
FINAL—P&Z,AND CC Separately for Final PUD Review)
LODGE PRESERVATION PUD 1-7 35 P&Z,AND CC 20
OBP, L1C 970-920-9500 ph
101 FQUners Place, SUlte 104 970-920-2363 fax
Tg michael @sailonnsurance com
Jeff Pendarvis July 29,2014
Facilities and Property Manager
City of Aspen
Aspen CO 81611
Dear Jeff,
I, Michael Sailor, being the owner and General Partner
of OBP, LLC. hereby grant permission and request that Jeff Pendarvis, Jack
Wheeler and staff of the Facilities and Property Management Department of the
City of Aspen submit an application on my behalf and represent me in a
Temporary Use Application.
Please feel free to contact me for any future question.
Sincerely,
ichael . Sailor
General Partner
OBP, Llc.
COMMUNITY DEVELOPMENT DEPARTMENT
Homeowner Association Compliance Policy
All land use applications within the City of Aspen are required to include a Homeowner Association
Compliance Form (this form) certifying the scope of work included in the land use application complies
with all applicable covenants and homeowner association policies. The certification must be signed by
the property owner or Attorney representing the property owner.
Name: CUQ� LL�- - G I;y w",- ou' " A br
Property
Owner("I'): Email: Phone No.:
Address of f ou 10 iw h s'
Property: lvl Pa�NOU � ��
(subject of 1
application) /�S P ap o
I certify as follows: (pick one)
❑ This property is not subject to a homeowners association or other form of private covenant.
This property is subject to a homeowners association or private covenant and the improvements
proposed in this land use application do not require approval by the homeowners association or
covenant beneficiary.
❑ This property is subject to a homeowners association or private covenant and the improvements
proposed in this land use application have been approved by the homeowners association or
covenant beneficiary. Evidence of approval is attached.
I understand this policy and I understand the City of Aspen does not interpret, enforce, or manage the
applicability, meaning or effect of pri to covenants or homeowner association rules or bylaws. I
understand that this document is u li ocument. t�
Owner signature:
date:
Owner printed name: l
or,
Attorney signature: date:
Attorney printed name:
oberm.eyer
P L A C E
August 6,2014
City Of Aspen
Planning&Zoning Dept.
130 S Galena Street 3rd Floor
Aspen, CO 81611
RE: OBP LLG Unit 1041105, 101 Founders Place,Aspen, CO 81611
To Whom It May Concern,
The proposed tenancy for Administrative Offices of the Aspen Police Department including the
Chief,an assistant Chief, some detectives,etc., and the Community Relations Department in
Obenmeyer Place Condominiums,Unit#104/105,have been reviewed and approved by the
Association with the terms and conditions below.
• Comply with all City of Aspen and Pitkin County codes applicable
• Not routinely and purposefully detain,house, or otherwise introduce to the property
criminals known to the Aspen Police Department
• Submit a signage plan in compliance with all Obermeyer Place Condominiums
Association guiding documents and receive approval for any additional signage required
from the Obermeyer Place Condominium Association prior to any installation of such
signage
• If gate access is deemed necessary; plan submittal, approval from the Obermeyer Place
Condominium Association, and installation of an additional pedestrian gate in the
Association fence separating the Zupancis Property from the Obermeyer Place
Condominium Association property at no expense to the Association
Please let us know if you have any additional concerns for the Association.
Thank you,
Je me Simecek,
Managing Agent, Obermeyer Place Condominium Association
PO BOX 5550,SNOWMASS VILLAGE,CO 81615
AFFIDAVIT OF PUBLIC NOTICE
REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE
ADDRESS OF PROPERTY:
DI Fou.►)erRS C'trtcE SuirE� 1Dw ,& i0r ,Aspen"CO
SCHEDULED PUBLIC HEARING DATE:
20_
STATE OF COLORADO )
ss.
County of Pitkin
E FF
(name,please print)I, �
being or representing an Applicant to the City of Aspen, Colorado, hereby personally
certify that I have complied with the public notice requirements of Section 26.304.060
(E)of the Aspen Land Use Code in the following manner:
Publication of notice: By the publication in the legal notice section of an official
paper or a paper of general circulation in the City of Aspen at least fifteen (15)
days prior to the public hearing. A copy of the publication is attached hereto.
✓ Posting of notice: By posting of notice, which form was obtained from the _
Community Development Department, which was made of suitable, waterproof l �G�CSI
materials, which was not less than twenty-two (22) inches wide and twenty-six
(26) inches high, and which was composed of letters not less than one inch in
height. Said notice was posted at least fifteen('15) days prior to the public hearing
on the day of , 20 , to and including the date and time
of the public hearing. A photograph of the posted notice (sign) is attached hereto.
Mailing of notice. By the mailing of a notice obtained from the Community
Development Department, which contains the information described in Section
26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen(15) days prior to
the public hearing, notice was hand delivered or mailed by first class postage g a rh
prepaid U.S. mail to all owners of property within three hundred (3 00) feet of the
property subject to the development application. The names and addresses of lf�
property owners shall be those on the current tax records of Pitkin County as they
appeared no more than sixty (60) days prior to the date of the public hearing. A
copy of the owners and governmental agencies so noticed is attached hereto.
1�A Neighborhood Outreach: Applicant attests that neighborhood outreach,
summarized and attached, was conducted prior to the first public hearing as
required in Section 26.304.035, Neighborhood Outreach. A copy of the
neighborhood outreach summary, including the method of public notification and
a copy of any documentation that was presented to the public is attached hereto.
(continued on next page)
Mineral Estate Owner Notice. By the certified mailing of notice, return receipt
requested, to affected mineral estate owners by at least thirty(30) days prior to the
date scheduled for the initial public hearing on the application of development.
The names and addresses of mineral estate owners shall be those on the current
tax records of Pitkin County. At a minimum, Subdivisions, SPAS or PUDs that
create more than one lot, new Planned Unit Developments, and new Specially
Planned Areas, are subject to this notice requirement.
Rezoning or text amendment. Whenever the official zoning district map is in any
way to be changed or amended incidental to or as part of a general revision of this
Title, or whenever the text of this Title is to be amended, whether such revision be
made by repeal of this Title and enactment of a new land use regulation, or
otherwise, the requirement of an accurate survey map or other sufficient legal
description of, and the notice to and listing of names and addresses of owners of
real property in the area of the proposed change shall be waived. However, the
proposed zoning map shall be available for public inspection in the planning
agency during all business hours for fifteen (15) days prior to the public hearing
on such amendments.
Sign�tur
The oregoing"Affidavit of Notic "was ackn edged before me this May
Of , 20 , by
WITNESS MY HAND AND OFFICIAL SEAL
My commission expires: f` /(Q
Notary Pub is ,
KAREN REED PATTERSON
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID#19964002767
ATTACHMENTS AS APPLICABLE: My Commission Expires February 16 2016
• COPY OF THE PUBLICATION
• PHOTOGRAPH OF THE POSTED NOTICE(SIGN)
• LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED
BY MAIL
• APPLICANT CERTIFICATION OF MINERAL ESTAE OWNERS NOTICE
AS REQUIRED BY C.R.S. §24-65.5-103.3
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PO BOX 21261 17740 E HINSDALE AVE 8200 DOUGLAS AVE#300
BOULDER, CO 803084261 FOXFIELD, CO 80016 DALLAS,TX 75225
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1800 N PROSPECT AVE APT 16E C/O FOLEY&LARDNER 1795 BROOKWOOD DR
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709 E MAIN STREET#303 1555 WASHTENAW 599 TROUT LK DR
ASPEN, CO 81611 ANN ARBOR, MI 48104 SANGER, CA 93657
BRYANT CAROLINA H BULKELEY RICHARD C&JULIE J BURSTEN GABRIELLA
PO BOX 5217 600 E MAIN ST#401 PO BOX 2061
SNOWMASS VILLAGE, CO 81615 ASPEN, CO 81611 ASPEN, CO 81612
CAREM LLC CIPOLLINO NICHOLAS CITY OF ASPEN
655 MADISON AVE 11TH FL 300 QUAIL RD 130 S GALENA ST
NEW YORK, NY 10065 MERRITT, NC 28556-9641 ASPEN, CO 81611
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PO BOX 1927 PO BOX 2914 PO BOX 44
CARSON CITY, NV 89702 BASALT, CO 81621 DEXTER, MI 48130
CROSS JUDITH CWAREI LLC DORAN RALPH
PO BOX 3388 3030 HARTLEY RD#350 2600 WOODWARD WAY
ASPEN, CO 81612 JACKSONVILLE, FL 32257 ATLANTA, GA 30305
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27 PHEASANT RD 1449 E 56TH ST TRUST
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PARK RIDGE, IL 600681311 CARBONDALE, CO 81623 GRAND JUNCTION, CO 81506
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16300 CANTRELL RD PO BOX 6581 530 E MAIN ST#302
LITTLE ROCK,AR 72223 SNOWMASS VILLAGE, CO 81615 ASPEN, CO 81611
PITKIN COUNTY CAPITAL LEASING CORP RAINER EWALD REDSTONE SUSAN B
530 E MAIN ST 409 E COOPER AVE#4 PO BOX 159
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REINGOLD ROBERT B INC RIVER HOUSE LLC RIVER PARK IN ASPEN CONDO ASSOC
1482 E VALLEY RD#601 729 E BLEEKER ST 730 E DURANT
MONTECITO, CA 93108 ASPEN, CO 81611 ASPEN, CO 81611
RKJR PROPERTIES LTD ROSENFIELD LYNNE CARYN ROSS NEIL
5934 ROYAL LN#250 709 E MAIN ST#203 100 S SPRING ST
DALLAS,TX 75230 ASPEN, CO 81611-2059 ASPEN, CO 81611
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Page 1 of 23
COMMERCIAL LEASE AGREEMENT
CITY OF ASPEN,
ASPEN POLICE DEPARTMENT
TENANT
OBP, LLC
LANDLORD
Obermeyer Place
The Crescent Building
101 Founders Place, Suites 104 & 105
ASPEN, COLORADO
PREMISES
Landlord Initials Tenant Initials Tenant Initials PRINT DATE:August 13,2014
Page 2 of 23
COMMERCIAL LEASE AGREEMENT
THIS COMMERCIAL LEASE AGREEMENT made as of this day of , 2014,by and between
OBP, LLC, a Colorado limited liability company ("Landlord"), and City of Aspen, Aspen Police Department, the
address of which is 130 S. Galena St, Aspen, CO 81611 ("Tenant"). All of the provisions of the Lease, including the
Data Sheet, the standard provisions commencing with Article I and continuing through Article XXII of the Lease
(hereinafter at times referred to as the "text of the Lease" or the "Standard Form"), the Guaranty and all exhibits are
incorporated in full in this preamble as if fully set forth at this point.
DATA SHEET
The following references furnish data to be incorporated in the specified Sections of the Lease and shall be
construed to incorporate all of the terms of the entire Section as stated in the said Lease:
(1) Section 1.01: Leased Premises: The parcel of real property, including any building or improvements
thereon,described as:
Obermeyer Place
The Crescent Building
101 Founders Place,Suites 104&105
ASPEN,COLORADO
(2) Section 1.02: Commencement Date of Term: September, 1,2014, 1 PM
Section 1.02: Length of Term: Forty-two(42)months
Section 1.02: Ending Day of Lease Term: February 28,2018, 11:00 AM
Section 1.03: Extension Option(s): Three(3)Options
(3) Early Termination Right of Landlord: None
(4) Section 2.01 and Section 2.02: Name and Address for Rent Payments: Payments from Tenant shall
be made payable to Landlord; OBP, LLC, 117 S. Spring Street, Suite 202, Aspen, Colorado 81611, and shall be
automatically deducted from the Tenant's approved business checking account on the first day on each month.
(5) Section 2.01: Minimum Rent: Minimum rent shall commence at $4750.00 per month, with such
amount increasing as provided in Article I&11 of the Lease.
Building Fee: Building Fee shall commence at $650.00 per month, with such amount
increasing as provided in Article I & II of the Lease. This monthly fee will cover the estimated charges provided for in
Section 5.01(b): Additional Charges. Any shortages will be billed upon receipt and due within 10 days of notification to
the tenant.
Total Rent: Total rent shall commence at $5400.00 per month, with such amount
increasing as provided in Article I&11 of the Lease.
(6) Section 3.01 and Section 3.02: Alterations, Changes and Additions: Landlord hereby grants Tenant
permission to remove one wall between the two offices circled on Exhibit A and remodel those two circled offices.
Tenant will submit to Landlord a written remodel plan,with flooring samples for Landlord to approve.Upon execution of
this lease,Tenant will pay Landlord a onetime$5000.00 non-refundable Alterations fee.
Landlord Initials Tenant Initials Tenant Initials PRINT DATE: August 13,2014
Page 3 of 23
(7) Section 4.01: Permitted Use: Professional business offices, such as police department and no other
use.
(8) Section 5.01 (b): Additional Charges:
All additional rents stated below shall be payable based on a rentable square footage formula equaling 100% of
the total expenses, which will be billed upon receipt by the Landlord and payable to the Landlord within 10 days of
notification to the tenant.
1) Tenant shall pay the Landlord's annual Real Estate Taxes for the premises.
2) Tenant shall pay the Landlord's quarterly Obermeyer Place Condominium Association dues for the
premises.
3) Tenant shall pay the Landlord's property insurance for the premises.
4) Tenant shall pay Landlord's for the premises.
(9) Section 21.01: Security Deposit: $5000.00
(10) Parking: None
[End of text of Data Sheet]
Landlord Initials Tenant Initials Tenant Initials PRINT DATE:August 13,2014
Page 4 of 23
STANDARD FORM LEASE
ARTICLE I. GRANT AND TERM
SECTION 1.01. LEASED PREMISES. Landlord, in consideration of the amounts to be paid and the
covenants to be performed by Tenant, does hereby demise and lease unto Tenant, and Tenant hereby rents and hires from
Landlord, those certain premises described in Section 1.01 of the Data Sheet portion of this Lease("the leased premises"
or"premises"). The leased premises are located in Suites 104 & 105 of the development known as Obermeyer Place,
Crescent Building with a street address of 101 Founders Place, Suite 104,Aspen,Colorado 81611,County of Pitkin, State
of Colorado (the "subdivision"). This Lease is subject to any covenants, restrictions and easements of record for the
subdivision.
SECTION 1.02. COMMENCEMENT AND ENDING DAY OF TERM. The term of this Lease shall
commence upon the commencement date set forth in the Data Sheet, and shall end on the final day of the last lease year
of the term or other specified date as set forth in the Data Sheet,unless sooner terminated as hereinafter provided. For the
purpose of this Lease, a "lease year" shall be a year of twelve (12) consecutive calendar months. Notwithstanding
anything to the contrary contained herein, Landlord shall have any termination rights described on the Data Sheet and
Tenant understands and agrees that such right of Landlord is a material provision of this Lease on which Landlord has
relied.
SECTION 1.03. EXTENSION OPTION(S). Extension Option 1: Tenant shall give the Landlord notice in
writing of its intention to exercise the option to renew the lease for the additional one (1) year period on or before
December 1, 2017. Extension Option 2: Tenant shall give the Landlord notice in writing of its intention to exercise the
option to renew the lease for the additional one (1) year period on or before December 1, 2018. Extension Option 3:
Tenant shall give the Landlord notice in writing of its intention to exercise the option to renew the lease for the additional
one (1) year period on or before December 1, 2019. If the Tenant does not exercise its option to renew the lease for the
first one(1)year extension option,the Tenant waives its right to exercise its extension options for both of the subsequent
one (1) year lease extension options. The Tenant shall pay the Landlord the first month's rent and the last month's rent
upon exercising the option with the written notice. The last month's rent shall be adjusted to conform per Section 2.02
Rent Adjustment and the increase amount shall be payable on the l't day of the last month of the lease. If the Landlord
does not receive from the Tenant such written notice and the payment required with such notice,then the Tenant waives
its option to exercise its right to renew the lease.
ARTICLE H. RENT
SECTION 2.01. MINIMUM&TOTAL RENT.
(a) The Minimum and Total rent during the term of this Lease shall be the amount set forth in the Data Sheet
attached hereto as adjusted pursuant to other provisions of this Lease, which sum shall be payable by Tenant in equal
consecutive monthly installments in the sum set forth in the Data Sheet attached hereto, on or before the first day of each
month,in advance,payable as set forth,and at the address set forth or designated bank account,in the Data Sheet attached
hereto under"Name and Address for Rent Payments,"or such other place as the Landlord may designate in writing, such
payments to be without any prior demand therefor and without any deductions or setoff whatsoever. Payments from
Tenant shall be made payable to Landlord, and shall be automatically deducted from the Tenant's approved business
checking account on the first day on each month.
(b) The Building Fee is a negotiated fee the tenant will pay the Landlord during the term of the lease as set
forth in the Data Sheet, of which that stated amount is included in the Total Rent and is subject to and governed by
Section 5.01 (b)Additional Charges.The Building Fee shall be adjusted to conform per Section 2.02 Rent Adjustment
(c) Should the term of this Lease commence on a day other than the first day of a calendar month, then the
rent for such month shall be prorated on a daily basis based upon a thirty(30)day calendar month. Should any lease year
contain less than twelve(12)calendar months, said annual rent shall be prorated.
Landlord Initials Tenant Initials Tenant Initials PRINT DATE: August 13,2014
Page 5 of 23
(d) Upon signing the Lease the Tenant shall pay the Landlord the first month's rent, the last month's rent,
the Alterations fee and $5000.00 Security Deposit. The last month's rent shall be adjusted to conform per Section 2.02
Rent Adjustment and the increase amount shall be payable on the 1St day of the last month of the lease.
SECTION 2.02. RENT ADJUSTMENT.
(a) Notwithstanding any provisions to the contrary contained in this Lease, on September 1, 2015, and on
September 1, each successive year of the term of this Lease, the total rent figure(s) in Section 2.01 of the Data Sheet
shall each be increased by the greater of-
G) The net percentage of change between the Base Index and the Index published for the first
calendar month of such lease year(as such terms are defined below),and
(ii) Four percent(4%).
(b) For purposes of the foregoing calculations, the term `Base Index" shall be the Index, for the month
during which the term of this Lease commences (or, if the Index is not published for such month, then the Index
published for the month closest, but prior, to the lease commencement date). The term"Index" as used in this Lease
shall be the "Consumer Price Index for All Urban Consumers (1982-84 = 100), U.S. City Average, All Items," as
published by the Bureau of Labor Statistics of the United States Department of Labor. If the Index is not published by
the Bureau of Labor Statistics or another governmental agency at any time during the term of this Lease, or if the Index
is otherwise re-named, discontinued or superseded, then the calculations based on the Index shall be made using the
most closely comparable statistics on the purchasing power of the consumer dollar as published by a responsible
financial authority and selected by Landlord. Following any increase in minimum rent pursuant to Paragraph (a)
above, the`Base Index"for future calculations shall be redefined as the Index published for the first calendar month of
the lease year for which the minimum rent has last been increased pursuant to said Paragraph (a). The Index for the
first calendar month of any given lease year, if the Index is not published for such month, shall be the Index published
for the month closest, but prior, to the first calendar month of such lease year. Landlord shall notify Tenant of the
increased minimum rent for each lease year following the determination of same by Landlord, and Tenant shall pay
such increased minimum rent for the applicable lease year in the manner set forth in Section 2.01 hereof. After each
such adjustment in the total rent figures in Section 2.01, the adjusted total rent shall become the total rent for the lease
year.
SECTION 2.03. PAYMENTS. (a) Rent shall be defined in this Lease as (i) minimum rent; and (ii) all
other charges of whatever nature required to be paid by Tenant under this Lease, including Building Fee, Additional
Charges and Additional Rent. The rent charges described in item (ii) of the preceding sentence shall, unless otherwise
specified,be due and payable five(5)days after demand,without any deductions or setoff whatsoever, in the manner and
at the place where minimum rent is payable and Tenant's failure to pay rent shall carry with it the consequences set forth
under Article XIV hereof. Landlord's rights and remedies pursuant to this Section shall be in addition to any and all other
rights and remedies provided under this Lease or at law. Notwithstanding anything to the contrary contained in this
Lease, Landlord's invoices for rent may be sent to Tenant by regular mail. Rent is specifically agreed by Tenant to be a
minimum reasonable use and occupancy charge for the leased premises. In the event any sums required hereunder to be
paid are not received on or before the fifth (5th) day after the same are due, then, for each and every such payment,
Tenant shall immediately pay, as additional rent, a service charge of ten percent (10%) of the outstanding amount due,
which service charge again shall be imposed for each month that such amount shall remain unpaid. In the event of
Tenant's failure to pay the foregoing service charge, Landlord may deduct said charge from the deposit set forth in
Section 26.01 hereof. The provisions of this Section shall not be construed to extend the date for payment of any sums
required to be paid by Tenant under this Lease or to relieve Tenant of its obligation to pay all such sums at the time or
times herein stipulated, and neither the demand for, nor collection by Landlord of, late payment service charges pursuant
to this Section shall be construed as a cure of any default in payment by Tenant. It is agreed that the said service charge is
a fair and reasonable charge under the circumstances and shall not be construed as interest on a debt payment. In the
event any charge imposed hereunder or under any other section of this Lease is either stated to be or construed as interest,
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then no such interest charge shall be calculated at a rate which is higher than the maximum rate which is allowed under
the usury laws of the State, which maximum rate of interest shall be substituted for the rate in excess thereof, if any,
computed pursuant to this Lease. In the event that any payment required hereunder fails to clear the bank on which it is
drawn or is deemed to be non-sufficient funds, a NSF charge in the amount of one hundred ($100.00) dollars ("NSF
Fee") shall be paid by Tenant to Landlord. Upon receipt of notice of the NSF check, Tenant shall immediately pay to
Landlord in certified funds,the payment due,the NSF Fee,together with any applicable late charges as set forth herein.
(b) Tenant shall be responsible for and agrees to pay,before delinquency, any sales tax on rents, and any tax
or assessment that may be assessed, charged or imposed by law now in effect, or which is hereafter enacted or may go
into effect, in connection with the use,occupancy,possession or tenancy of the leased premises for each month or portion
thereof during the term of this Lease(all of the foregoing are hereinafter referred to as"rent taxes"). Tenant agrees to pay
all rent taxes in the manner and in accordance with the requirements of applicable law, rule and regulation, as the same
may be amended from time to time. In the event that the applicable taxing authority shall require(or permit and Landlord
shall elect to do so) Landlord or Landlord's agent to collect any rent taxes for or on behalf of the applicable taxing
authority then such rent taxes shall be paid by Tenant to Landlord or Landlord's agent monthly with the rent payments
required hereunder, in accordance with the requirements of the applicable taxing authority and in no event later than
monthly within twenty (20) days notice from Landlord to the Tenant, with the burden of the tax calculation to be the
responsibility of the Landlord.
ARTICLE III. ALTERATIONS,CHANGES AND ADDITIONS
SECTION 3.01. INSTALLATION BY TENANT. Tenant shall not make or cause to be made any alterations,
additions or improvements of any sort to the leased premises without the prior written approval of Landlord. In the event
Landlord approves any proposed alterations, additions or improvements by Tenant,Landlord may require any reasonable
rules,regulations or restrictions in connection with the constriction of such alterations,additions or improvements.
SECTION 3.02. REMOVAL BY TENANT. All alterations, additions, fixtures and improvements made by
Tenant shall be deemed to have attached to the leasehold and to have become the property of Landlord upon such
attachment. Upon expiration or earlier termination of the term of this Lease, Tenant shall not remove any of such
alterations, decorations, additions, fixtures or improvements. Landlord may, however, designate by written notice to
Tenant those alterations, decorations, additions, improvements, or fixtures which shall be removed by Tenant at the
expiration or earlier termination of the Lease, and Tenant shall promptly remove the same and repair any damage to the
leased premises caused by such removal. Landlord shall have the right to padlock or otherwise secure the leased
premises upon the expiration or earlier termination of the term of the Lease. Landlord shall also have the right, at any
time during the term of this Lease, and upon expiration or earlier termination of the term of this Lease, to immediately
enter the leased premises in order to remove any items which shall be determined to be a violation of existing health,
safety, security or other similar codes or regulations affecting or applicable to the leased premises or the development.
Landlord shall provide prior notification to Tenant of such removal, subject to the then existing circumstances. Unless
otherwise agreed in writing, all trade fixtures will be removed by Tenant and Tenant will repair any damage to the leased
premises caused by such removal.
SECTION 3.03 LANDLORD'S LIEN. The Tenant grants to the Landlord a security interest in the Tenant's
personal property, general intangibles, trade fixtures, furniture and equipment located on or about the Leased Premises,
including any additions, replacements or substitutions thereof as security for the performance of the Tenant's obligations
under this Lease. Tenant agrees to indemnify and hold Landlord harmless from and against any and all other liens,claims
and encumbrances whatsoever, including reasonable attorney's fees, related to or incurred by Tenant, or any agent or
employee of Tenant, by counsel satisfactory to Landlord. Tenant acknowledges and agrees that any and all equipment,
fixtures, furniture, or other personal or real property located on the Premises not otherwise owned by the Landlord is
owned by the Tenant and is subject to Landlord's first priority lien interest unless Tenant notifies Landlord in writing that
such property, identified with reasonable specificity, is not owned by the Tenant. Prior to taking possession of the
Premises,Tenant hereby authorizes Landlord to execute and deliver to the Colorado Secretary of State or other applicable
authorities, a UCC-1 Financing Statement evidencing its grant to Landlord of a security interest in and to such property.
Tenant represents and warrants that any personal property, trade fixtures, furniture and equipment shall be the sole and
exclusive assets of Tenant free and clear of any and all adverse claims,liens and encumbrances whatsoever.
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ARTICLE IV. CONDUCT OF BUSINESS BY TENANT
SECTION 4.01. USE OF PREMISES. Tenant shall continuously use and occupy the entire leased premises
during the term of this Lease, which use and occupancy shall be solely for the purpose of conducting the business
specifically set forth in the Data Sheet and for no other purpose or purposes. If any governmental license or permit shall
be required for the proper and lawful conduct of Tenant's business or other activity carried on in the leased premises or if
a failure to procure such a license or permit might or would in any way affect Landlord,then Tenant, at Tenant's expense,
shall duly procure and thereafter maintain such license or permit and submit the same for inspection by Landlord.
Tenant,at Tenant's expense, shall,at all times,comply with the requirements of each such license or permit.
SECTION 4.02. OPERATION OF BUSINESS. Tenant shall conduct its business at all times in a first class
and reputable manner. Tenant, at Tenant's expense, shall promptly comply with all present and future laws, ordinances,
orders, rules, regulations and requirements of all governmental authorities having jurisdiction, affecting or applicable to
the leased premises or the cleanliness, safety, occupancy and use of the same, whether or not any such law, ordinance,
order, rule, regulation or requirement is substantial, or foreseen or unforeseen, or ordinary or extraordinary, or shall
necessitate structural changes or improvements or interfere with the use and enjoyment of the leased premises. Tenant
shall not do or permit anything to be done in or about the leased premises, or bring anything therein, which will in any
way conflict with any such law, ordinance, order, rule, regulation or requirement affecting the occupancy or use of the
leased premises or the development which is or may hereafter be enacted or promulgated by governmental authorities, or
in any way obstruct or interfere with the rights of others, nor shall Tenant use or allow the premises to be used for any
improper, immoral or objectionable purposes as determined by Landlord. Tenant shall not cause or permit the use,
generation,release, storage or disposal in or about the leased premises or the development of any substances,materials or
wastes subject to regulation under any federal or state or local laws from time to time in effect concerning hazardous,
toxic or radioactive materials unless Tenant shall have received Landlord's prior written consent, which Landlord may
withhold or at any time revoke in its sole discretion. The covenants of Tenant regarding hazardous, toxic or radioactive
materials, as set forth in this Lease, shall survive the expiration or earlier termination of the term of this Lease. Tenant
shall comply with all federal, state and local laws in effect from time to time prohibiting discrimination or segregation by
reason of race, color, creed, age, religion, sex or national origin. No auction, liquidation, going out of business, fire or
bankruptcy sales may be conducted or advertised by sign or otherwise in the leased premises, without written
authorization by Landlord. Tenant shall not permit noise or odors in the leased premises which are objected to by
Landlord and, upon written notice from Landlord, Tenant shall immediately cease and desist from causing such noise or
odor, and failing of which Landlord may deem the same a material breach of this Lease. Tenant shall not use or permit
the use of any portion of the leased premises as sleeping quarters, lodging rooms, or for any unlawful purposes. Tenant
shall not install any radio or television or other similar device exterior to the leased premises and shall not erect any aerial
on the roof or exterior walls of any building within the subdivision.
ARTICLE V. ADDITIONAL EXPENSES OF THE LEASED PREMISES
SECTION 5.01. UTILITY CHARGES. (a) Tenant shall be solely responsible for and shall promptly pay all
charges for telephone, cable, internet, air conditioning, electricity, water, sewer, gas, heat and any other utility used upon
or furnished to the leased premises. Tenant shall contract directly with and shall be solely responsible to the public utility
companies for the installation of service and the payment of all charges for Tenant's usage of such utility services. If
Landlord shall elect to supply any of the foregoing utilities used upon or furnished to the leased premises, Tenant agrees
to purchase and pay for same as additional rent, within ten (10) days of the presentation by Landlord to Tenant of bills
therefor. Landlord shall also have the right to periodically estimate the monthly amount required to be paid by Tenant to
Landlord with respect to any or all of such services provided by Landlord and such estimated monthly amount or amounts
shall be paid by Tenant on the first day of each calendar month, in advance, at the place and in the manner specified for
payments of minimum rent hereunder. Landlord shall have the right to change such estimated amount or amounts at any
time and from time to time, by notice to Tenant. If the total of the estimated monthly payments made by Tenant for any
lease year or calendar year shall be less than the actual amount due from Tenant pursuant to the provisions of this Section,
Tenant shall pay to Landlord the difference between the amount paid by Tenant and the actual amount due within ten(10)
days after submission to Tenant of Landlord's statement and invoice therefor; and if the total of the estimated payments
made by Tenant for any such year shall exceed the actual amount due from Tenant, the excess amount paid shall be
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credited against the next payment due from Tenant to Landlord under this Section. The obligation of Tenant to pay for
such utilities shall commence as of the date on which possession of the premises is delivered to Tenant.
(b) ADDITIONAL CHARGES. Tenant shall be solely responsible for and shall promptly pay all charges,
estimated or exact when presented to the tenant;
1) The annual Real Estate Taxes for the premises.
2) The quarterly Obermeyer Place Condominium Association dues for the premises.
3) Landlord's property insurance for the premises.
4) Tenant shall pay for the premises.
Tenant agrees to pay for same as additional rent, within ten(10) days of the presentation by Landlord to Tenant of bills
therefor. Landlord shall also have the right to periodically estimate the monthly amount required to be paid by Tenant to
Landlord, with respect to any or all of such services provided by Landlord and such estimated monthly amount or
amounts shall be paid by Tenant on the first day of each calendar month, in advance, at the place and in the manner
specified for payments of minimum rent hereunder. Landlord shall have the right to change such estimated amount or
amounts at any time and from time to time,by notice to Tenant. If the total of the estimated monthly payments made by
Tenant for any lease year or calendar year shall be less than the actual amount due from Tenant pursuant to the provisions
of this Section, Tenant shall pay to Landlord the difference between the amount paid by Tenant and the actual amount
due within ten (10) days after submission to Tenant of Landlord's statement and invoice therefor; and if the total of the
estimated payments made by Tenant for any such year shall exceed the actual amount due from Tenant, the excess
amount paid shall be credited against the next payment due from Tenant to Landlord under this Section. The obligation
of Tenant to pay for such utilities shall commence as of the date on which possession of the premises is delivered to
Tenant.These charges will be estimated under Building Fee and paid monthly as part of the total rent.
(c) Landlord shall not be liable to Tenant for any loss, damage or expense which Tenant may sustain if the
quality or character of utilities used upon or furnished to the leased premises are no longer available or suitable for
Tenant's requirements, or if said utilities are interrupted as a result of actions by the public utility companies or any other
cause and no such change, interruption,or cessation of service shall constitute an eviction of Tenant.
(d) Any obligation of Landlord to furnish light,heat, conditioned air, or power or any utility service shall be
conditioned upon the availability of adequate energy sources. Landlord shall have the right to reduce heat, lighting, air
conditioning or other utility services within the development, including without limitation, the leased premises and the
common areas, as required by any energy saving allocation, or any similar statute, regulation, order or program without
such action diminishing Tenant's obligations hereunder. Tenant shall cooperate with any of Landlord's directives
designed to conserve energy consumption.The minimum temperature during the winter will be 60 Degrees.
SECTION 5.02. SNOW REMOVAL AND TRASH COLLECTION. This is provided for by the Obermeyer
Place Condominium Association.
ARTICLE VI. SIGNS
SECTION 6.01. SIGNS. Tenant may not erect or display any signage or other materials visible from beyond
the leased premises without the written consent of Landlord and The Obermeyer Place Condominium Association. The
size, content, design and location of any signage shall be subject to the prior written approval of Landlord and The
Obermeyer Place Condominium Association and subject to any applicable restrictions.
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ARTICLE VII. MAINTENANCE
SECTION 7.01. TENANT'S OBLIGATIONS FOR MAINTENANCE. (a) Except as otherwise provided
herein, Tenant, at Tenant's expense, shall keep and maintain in first-class appearance, in a condition at least equal to that
which existed when Tenant initially opened the leased premises for business, and in good order, condition and repair as
determined by Landlord (including replacement of parts and equipment, if necessary) the leased premises and all
common elements appurtenant there to and every part thereof and any and all improvements thereon, including, but
without limitation, the interior walls and ceilings, (stud to stud), the interior portion of all doors, door frames, door
checks,interior,ordinary and all improvements made by the Tenant.
(b) Tenant shall keep and maintain the leased premises and all common elements appurtenant there to in a
clean, sanitary and safe condition in accordance with the laws of the State of Colorado and in accordance with all
directions, rules and regulations of the health officer, Fire Marshall, building inspector, or other proper officials of the
governmental agencies having jurisdiction, and Tenant shall comply with all requirements of law, ordinances and
otherwise,affecting the leased premises and the subdivision,all at the sole cost and expense of Tenant. At the time of the
expiration or sooner termination of the tenancy created herein, Tenant shall surrender the leased premises in good order,
condition and repair.
(c) Tenant shall keep the leased premises and all common elements appurtenant there to and all other parts
of the development free from any and all liens arising out of any work performed, materials furnished or obligations
incurred by or for Tenant, and agrees to bond against or discharge any such lien (including, without limitation, any
construction, mechanic's or materialman's lien) within twenty (20) days after written request therefor by Landlord.
Tenant shall give Landlord at least five (5) days' notice prior to commencing or causing to be commenced any work on
the leased premises (previously approved by Landlord under Section 3.01 hereof). Tenant shall reimburse Landlord for
any and all costs and expenses which may be incurred by Landlord by reason of the filing of any such liens and/or the
removal of same, plus an administrative fee to Landlord of Two Thousand Five Hundred Dollars ($2,500.00), such
reimbursement to be made within ten(10) days after written notice from Landlord to Tenant setting forth the amount of
such costs and expenses. Tenant shall provide the following written notice to any contractor performing work in the
Leased Premises and shall post the same in a conspicuous place within the Leased Premises while work is being
performed:
LANDLORD'S INTEREST IN THE LEASED PREMISES SHALL NOT BE SUBJECT TO ANY LIENS
FOR LABOR OR MATERIALS FURNISHED OR DELIVERED IN CONNECTION WITH IMPROVEMENTS
MADE IN OR TO THE LEASED PREMISES BY OR ON BEHALF OF TENANT OR AT ITS REQUEST.
TENANT SHALL HAVE NO AUTHORITY OR POWER,EXPRESS OR IMPLIED,TO CREATE OR CAUSE
ANY OTHER TYPE OF LIEN, OR TO CREATE OR CAUSE ANY CHARGE OR ENCUMBRANCE OF ANY
KIND AGAINST THE LEASED PREMISES OR ALL OR ANY PART OF THE COMMON AREA.
(d) Tenant,at its own expense, shall install and maintain portable handheld fire extinguishers.
(e) Tenant agrees to operate any heating and air conditioning system(s) serving the leased premises in a
reasonable manner and will be responsible for the repairs, annual maintenance and replacement thereof. Tenant shall be
responsible and shall promptly pay Tenant's proportional share of any repairs, annual maintenance or replacement
charges for the Leased Premises. Landlord may invoice Tenant for any repairs, annual maintenance or replacement
charges; provided, however, that Tenant shall be responsible for such charges whether or not an invoice is sent to Tenant
for the same. The Landlord may maintain the system(s)per Section 16.01.
(f) Tenant expressly waives all rights to make repairs at the expense of Landlord except as provided for by
Colorado State Statutes.
(g) In the event that Tenant fails, refuses or neglects to commence and complete repairs promptly and
adequately, to remove any lien, to pay any cost or expense, to reimburse Landlord, or otherwise to perform any act or
fulfill any obligation required of Tenant pursuant to this Section 7.01, Landlord may, upon three (3) days' prior written
notice to Tenant (except in the event of an emergency in which event no notice shall be required), but shall not be
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required to, make or complete any such repairs, remove such lien (without inquiring into the validity thereof), pay such
cost or perform such act or the like,but at the sole cost and expense of,Tenant, and Tenant shall reimburse Landlord for
costs and expenses of Landlord thereby incurred within ten (10) days after receipt by Tenant from Landlord of a
statement setting forth the amount of such costs and expenses. Landlord's rights and remedies pursuant to this subsection
(g)shall be in addition to any and all other rights and remedies provided under this Lease or at law.
ARTICLE VIII.INSURANCE AND INDEMNITY
SECTION 8.01. TENANT'S INSURANCE. (a) Tenant, at its sole cost and expense, shall, at all times,
commencing with the date upon which the leased premises shall be made available for Tenant's Work, procure, pay for
and keep in full force and effect: (i) a commercial general liability policy, including insurance against assumed or
contractual liability under this Lease with respect to the leased premises and the operations of Tenant and any subtenants
of Tenant in, on or about the leased premises in which the limits with respect to personal liability and property damage
shall be not less than One Million Dollars ($1,000,000)per occurrence naming Landlord as an additional insured; (ii) all
risk property insurance, including theft and, if applicable, boiler and machinery coverage, and windstorm insurance,
written at replacement cost value in an adequate amount to avoid coinsurance and a replacement cost endorsement
insuring Tenant's leasehold improvements, merchandise, trade fixtures, furnishings, equipment and all items of personal
property of Tenant and including property of Tenant's customers located on or in the leased premises; (iii) workers'
compensation coverage as required by law; (iv) with respect to alterations, improvements and the like required or
permitted to be made by Tenant hereunder, contingent liability and builder's risk insurance, in amounts satisfactory to
Landlord; and (v) such insurance as may from time to time be required by city, county, state or federal laws, codes,
regulations or authorities, together with such other insurance as is reasonably necessary or appropriate under the
circumstances. The minimum limits of coverage as set forth in this paragraph may from time to time, at Landlord's
option, be increased by not more than ten percent (10%) per annum, on a cumulative basis, with such increase to occur
not more often than once during each lease year during the term hereof.
(b) All policies of insurance required to be carried by Tenant pursuant to this Section 8.01 shall be written
by responsible insurance companies authorized to do business in the State of Colorado. A copy of each paid-up policy
evidencing such insurance (appropriately authenticated by the insurer) or a certificate of the insurer, certifying that such
policy has been issued, providing the coverage required by this Section and containing provisions specified herein, shall
be delivered to Landlord prior to Tenant's entry into the leased premises and,upon renewals,not less than thirty(30)days
prior to the expiration of such coverage. Landlord may, at any time, and from time to time, inspect and/or copy any and
all insurance policies required to be procured by Tenant hereunder.
(c) Each policy evidencing insurance required to be carried by Tenant pursuant to this Section 8.01 shall
provide coverage on an occurrence basis (and not on a"claims-made" basis) and shall contain the following provisions
and/or clauses: (i) a provision that such policy and the coverage evidenced thereby shall be primary and non-contributing
with respect to any policies carried by Landlord, and that any coverage carried by Landlord shall be excess insurance; (ii)
a provision including Landlord and any other parties in interest designated by Landlord or such beneficial ownership
entity (if any), as additional insured (except with respect to workers' compensation insurance); (iii) with respect to
property insurance,a waiver by the insurer of any right of subrogation against Landlord,the underlying lessor, if any, and
their respective agents, employees and representatives which arises or might arise by reason of any payment under such
policy or by reason of any act or omission of Landlord, its agents, employees or representatives; (iv) a provision that the
insurer will not cancel, materially change or fail to renew the coverage provided by such policy without first giving
Landlord thirty (30) days' prior written notice; and (v) a provision (to the extent available) that no act or omission of
Landlord shall affect or limit the obligation of the insurer to pay the amount of any loss sustained.
(d) In the event that Tenant fails to procure, maintain and/or pay for, at the times and for the durations
specified in this Section 8.01, any insurance required by this Section, or fails to carry insurance required by law or
governmental regulation, Landlord may (but without obligation to do so) at any time or from time to time, and with five
(5) days' prior written notice to Tenant, procure such insurance and pay the premiums therefor, in which event Tenant
shall repay to Landlord all sums so paid by Landlord together with interest thereon as provided elsewhere herein and any
costs or expenses incurred by Landlord in connection therewith, within ten (10) days following Landlord's written
demand to Tenant for such payment.
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(e) Tenant shall not carry any stock of goods, manufacture any product or do anything else in or about the
leased premises which will in any way tend to increase the insurance rates of Landlord, the leased premises and/or the
building of which they are a part and/or the contents thereof. If Tenant installs any electrical equipment that overloads
the lines in the leased premises,Tenant shall at its own expense make whatever changes are necessary to comply with the
requirements of the insurance underwriters and governmental authorities having jurisdiction.
SECTION 8.02. LANDLORD'S INSURANCE. Landlord may'maintain commercial general liability
insurance for the subdivision; provided, however, Tenant shall be obligated to maintain Tenant's insurance in
accordance with Section 8.01 above whether or not Landlord maintains insurance coverages. Any insurance
required of Landlord hereunder may be furnished by or for Landlord under any blanket or umbrella policy
carried by or for Landlord or under a separate policy therefor.
SECTION 8.03. COVENANT TO HOLD HARMLESS. Tenant covenants to indemnify Landlord, and its
respective officers, directors, stockholders, beneficiaries, partners, principals, members, representatives, agents and
employees, and save them harmless (except to the extent of loss or damage resulting from the gross negligence of
Landlord and not required to be insured against by Tenant pursuant to this Article VIII) from and against any and all
claims, actions, damages, liability, cost and expense, including attorneys' fees, in connection with all losses, including
loss of life, personal injury and/or damage to property, arising from or out of any occurrence in, upon or at the leased
premises or the occupancy or use by Tenant of the leased premises or any part thereof, or arising from or out of Tenant's
failure to comply with any provision of this Lease or occasioned wholly or in part by any act or omission of Tenant, its
concessionaires, agents, contractors, suppliers, employees, servants,customers or licensees. Landlord shall have the right
to engage its own attorneys in connection with any of the provisions of this Section 8.03 or any other provision of this
Lease, including, without limitation, any defense of Landlord or intervention by Landlord, notwithstanding any contrary
provisions or court decisions of the State of Colorado. The foregoing provisions of this Section shall survive the
expiration or earlier termination of the term of this Lease.
ARTICLE IX. ESTOPPEL STATEMENT,ATTORNMENT AND SUBORDINATION
SECTION 9.01. ESTOPPEL STATEMENT. Tenant shall,without charge,at any time and from time to time,
within ten(10) days after receipt by Tenant of written request therefor from Landlord or from any mortgagee under any
mortgage or any beneficiary under any deed of trust on the real property on which the building containing the leased
premises is located or of which the leased premises are a part, deliver, a duly executed and acknowledged certificate or
statement to the party requesting said certificate or statement or to any other person, firm or corporation designated by
Landlord, certifying: (a) that this Lease is unmodified and in full force and effect, or, if there has been any modification,
that the same is in full force and effect as modified, and stating any such modification; (b)the date of commencement of
the term of this Lease; (c)that rent is paid currently without any off-set or defense thereto; (d)the dates to which the rent
and other charges payable hereunder by Tenant have been paid, and the amount of rent and other charges, if any,paid in
advance; (e) whether or not there is then existing any claim of Landlord's default hereunder and, if so, specifying the
nature thereof, and(f)any other matters relating to the status of such Lease as shall be requested by Landlord or any such
mortgagee or beneficiary from time to time; provided that, in fact, such facts are accurate and ascertainable. Any such
certificate or statement by Tenant may, at the election of the requesting party, include Tenant's undertaking not to pay
rents or other charges for more than a specified period in advance of the due dates therefor set forth herein.
SECTION 9.02. ATTORNMENT. In the event any proceedings are brought for the foreclosure of, or in the
event of the conveyance by deed in lieu of foreclosure of, or in the event of exercise of the power of sale under, any
mortgage and/or deed of trust made by Landlord covering the leased premises, or in the event Landlord sells, conveys or
otherwise transfers its interest in the Leased Premise or any portion thereof containing the leased premises, this Lease
shall remain in full force and effect and Tenant hereby attorns to, and covenants and agrees to execute an instrument in
writing reasonably satisfactory to the new owner whereby Tenant attorns to such successor in interest and recognizes
such successor as the Landlord under this Lease. Payment by or performance of this Lease by any person, firm or
corporation claiming an interest in this Lease or the leased premises by, through or under Tenant without Landlord's
consent in writing shall not constitute an attornment or create any interest in this Lease or the leased premises.
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SECTION 9.03. SUBORDINATION. Tenant agrees that this Lease shall, at the request of Landlord, be
subordinate to any mortgages or deeds of trust that are now, or may hereafter be,placed upon the leased premises and to
any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions
thereof, provided that the lessor under any such underlying or ground lease or the mortgagees or beneficiaries named in
said mortgages or trust deeds shall agree to recognize the interest of Tenant under this Lease in the event of foreclosure,if
Tenant is not then in default. Tenant also agrees that any mortgagee or beneficiary may elect to have this Lease constitute
a prior lien to its mortgage or deed of trust, and in the event of such election and upon notification by such mortgagee or
beneficiary to Tenant to that effect,this Lease shall be deemed prior in lien to such mortgage or deed of trust,whether this
Lease is dated prior to or subsequent to the date of said mortgage or deed of trust. Tenant agrees that upon the request of
Landlord,or any mortgagee or beneficiary,Tenant shall execute whatever instruments may be required by Landlord or by
any mortgagee or beneficiary to carry out the intent of this Section.
SECTION 9.04. REMEDIES. Failure of Tenant to execute any statements or instruments necessary or
desirable to effectuate the foregoing provisions of this Article, within ten (10) days after written request so to do by
Landlord, shall constitute a breach of this Lease. For each day beyond the referenced ten (10) day period that Tenant
shall fail to execute said statements or instruments, Tenant shall pay to Landlord Five Hundred and 00/100ths Dollars
($500.00) in order to partially compensate Landlord for the administrative costs and other damages arising from Tenant's
failure. Such per diem amount shall be immediately due and payable as additional rent under this Lease
ARTICLE X. ASSIGNMENT AND SUBLETTING
SECTION 10.01. NO ASSIGNMENT OR SUBLETTING. Tenant agrees not to assign or in any manner
transfer this Lease or any estate or interest therein, and not to lease or sublet the leased premises or any part or parts
thereof or any right or privilege appurtenant thereto, and not to allow anyone to conduct business at, upon or from the
leased premises, or to come in,by, through or under it, in all cases either by voluntary or involuntary act of Tenant or by
operation of law or otherwise, without the written consent of Landlord, which consent shall be made at Landlord's sole
discretion. The sale, issuance or transfer of any voting capital stock or interest of Tenant or Tenant's Guarantor which
results in a change in the direct or indirect voting control (or a change in the identity of any person, persons, entity or
entities with the power to vote or control at least fifty percent(50%) of the voting shares of any class of stock) of Tenant,
or Tenant's Guarantor, shall be deemed to be an assignment of this Lease within the meaning of this Section 10.01. Any
such prohibited act by Tenant or Tenant's Guarantor (or any attempt at same), either voluntarily or involuntarily or by
operation of law or otherwise, shall, at Landlord's option, terminate this Lease without relieving Tenant of any of its
obligations hereunder for the balance of the stated term,and any such act shall be null and void.
ARTICLE XI. WASTE
SECTION 11.01. WASTE OR NUISANCE. Tenant shall not commit or suffer to be committed any waste
upon the leased premises and shall not place a load upon any floor of any improvement upon the leased premises which
exceeds the floor load per square foot which such floor was designed to carry. Tenant shall not commit or suffer to be
committed any nuisance or other act or thing which may disturb the quiet enjoyment of any other occupant or tenant of
the subdivision. Tenant shall take such action as Landlord reasonably deems necessary to prevent or terminate any such
nuisance or waste arising out of Tenant's business, including, without limitation, any nuisance created by employees,
agents,contractors,invitees or licensees of Tenant.
ARTICLE XIL DESTRUCTION OF LEASED PREMISES
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SECTION 12.01. RECONSTRUCTION OF DAMAGED PREMISES. If the leased premises are destroyed,
the lease shall terminate. In the event of a partial destruction of the leased premises, and it is not economically feasible to
restore the premises in the determination of either the Landlord or the insurance company, then this lease shall terminate.
If there is a partial destruction of the leased premises, and a government authority condemns the building, this lease shall
terminate. In the event there is partial destruction of the premise, and the Landlord repairs and restores the leased
premises, it will be to the condition which existed at the commencement of the lease, then the lease will remain in full
force and effect, and the rent shall abate from the time of the casualty to the completion of the Landlords repairs. The
Tenant agrees to use their own insurance to restore the Tenant improvements.
SECTION 12.02. WAIVER OF SUBROGATION. Each party hereto does hereby waive,remise,release and
discharge the other party hereto and any officer, director, shareholder, beneficiary, partner, agent, employee or
representative of such other party, of and from any liability whatsoever hereafter arising from loss, damage or injury
caused by fire or other casualty for which insurance containing a waiver of subrogation is carried by the injured party at
the time of such loss,damage or injury to the extent of any recovery by the injured party under such insurance.
ARTICLE XIH. EMINENT DOMAIN
SECTION 13.01. TOTAL CONDEMNATION OF LEASED PREMISES. If the whole of the leased
premises shall be taken by any public authority under the power of eminent domain or sold to public authority under
threat or in lieu of such a taking, then the term of this Lease shall cease as of the day possession shall be taken by such
public authority, and the rent shall be paid up to that day with a proportionate refund by Landlord of such rent and other
charges as may have been paid in advance for a period subsequent to the date of the taking.
SECTION 13.02. PARTIAL CONDEMNATION. (a)(i) If less than the whole but more than twenty percent
(20%)of the leased premises (or any portion of the leased premises the taking of which renders the entire leased premises
untenantable) shall be so taken under eminent domain, or sold to public authority under threat or in lieu of such a taking,
Tenant shall have the right either to terminate this Lease and declare the same null and void as of the day possession is
taken by public authority, or, subject to Landlord's right of termination as set forth in Section 13.02(b) of this Article, to
continue in the possession of the remainder of the leased premises, upon notifying Landlord in writing within ten (10)
days after such taking of Tenant's intention. In the event Tenant elects to remain in possession, all of the terms herein
provided shall continue in effect, except that, as of the day possession of such percentage of the leased premises is taken
by public authority, the minimum rent and other charges payable by Tenant to Landlord (to the extent that such charges
are based upon the square foot area of the leased premises) shall be reduced in proportion to the floor area of the leased
premises taken; thereafter, Landlord shall, at its own cost and expense, make all necessary repairs or alterations to the
basic building and Tenant, at Tenant's sole cost, shall similarly act with respect to Tenant's improvements, trade fixtures,
furnishings and equipment.
(ii) If this Lease is not terminated under subsections 13.02(a) (i) or(b),the lease term shall cease only on the
part so taken,as of the day possession shall be taken by such public authority,and Tenant shall pay rent and other charges
up to that day, with appropriate credit by Landlord(toward the next installment of such rent or charges due from Tenant)
of such rent or charges as may have been paid in advance for a period subsequent to the date of the taking; thereafter,the
minimum rent and other charges payable to Landlord(to the extent that such charges are based upon the square foot area
of the leased premises) shall be reduced in proportion to the amount of the leased premises taken. Landlord shall, at its
expense, make all necessary repairs or alterations to the basic building and Tenant, at Tenant's sole cost, shall similarly
act with respect to Tenant's improvements,trade fixtures, furnishings and equipment.
(b) If more than fifty percent(50%)of the leased premises are located shall be taken under power of eminent
domain, or sold to public authority under the threat or in lieu of such a taking, Landlord may,by written notice to Tenant
delivered on or before the tenth(10th)day following the date of surrendering possession to the public authority,terminate
this Lease as of the day possession is taken by public authority. The rent and other charges shall be paid up to the day
possession is taken by public authority, with an appropriate refund by Landlord of such rent as may have been paid in
advance for a period subsequent to that date.
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SECTION 13.03. LANDLORD'S AND TENANT'S DAMAGES. All damages awarded for such taking
under the power of eminent domain or sale under threat or in lieu of such a taking, whether for the whole or a part of the
leased premises, shall belong to and be the property of Landlord, irrespective of whether such damages shall be awarded
as compensation for diminution in value to the leasehold or to the fee of the leased premises, and Tenant shall have no
claim against either Landlord or the condemning authority with respect thereto; provided, however, that Landlord shall
not be entitled to any award specifically designated as compensation for,depreciation to, and cost of removal of,Tenant's
stock and trade fixtures, nor (subject to the rights of Landlord's mortgagee[s]) to any award specifically designated as
compensation to Tenant for relocation expenses (to the extent the award for relocation expenses would not reduce the
award which would otherwise have been received by Landlord in the absence of any award to Tenant for relocation
expenses).
ARTICLE XIV. DEFAULT
SECTION 14.01. RIGHT TO RE-ENTER. (a) In the event of(1) any failure of Tenant to pay any rent or
other charges due hereunder when due, or (2) any failure to perform any other of the terms, conditions or covenants of
this Lease to be observed or performed by Tenant for more than thirty(30) days after written notice of such default shall
have been mailed to Tenant (provided, however, such period shall be extended for an additional reasonable period if the
default is of such a nature that it cannot be cured within thirty(30) days and Tenant has diligently commenced the curing
of such default and is diligently pursuing the same to completion); then Landlord,besides other rights or remedies it may
have, shall have the right to declare this Lease terminated and the term ended (in which event, this Lease and the term
hereof shall expire, cease and terminate with the same force and effect as though the date set forth in any required notice
were the date originally set forth herein and fixed for the expiration of the term and Tenant shall vacate and surrender the
premises but shall remain liable for all obligations arising during the balance of the original stated term as hereafter
provided as if this Lease had remained in full force and effect) and Landlord shall have the right, without further notice,
(except as otherwise required by Colorado law) to bring a special proceeding to recover possession from Tenant holding
over and/or Landlord may, in any of such events, re-enter the leased premises, and dispossess, Tenant and the legal
representative of Tenant or other occupant of the leased premises and remove their effects and hold the premises as if this
Lease had not been made.
(b) Notwithstanding the foregoing provisions of this Section, in the event Tenant shall fail to perform or
shall default in the performance of any term, covenant or condition of this Lease on two (2) or more separate occasions
during any twelve-month period,then, even though such failures or defaults may have been cured by Tenant, any further
failure or default of the same kind by Tenant during such twelve-month period shall be deemed a default without the
ability for cure by Tenant. During the continuance of any failure of performance or any default by Tenant in the
performance of any term, covenant or condition of this Lease, Tenant shall not be entitled to exercise any rights or
options, or to receive any funds or proceeds being held under or pursuant to this Lease, notwithstanding any contrary
provisions contained herein. In the event of re-entry by Landlord exercised per this clause, Landlord may remove all
property from the leased premises and such property may be stored in a public warehouse or elsewhere at the cost of, and
for the account of Tenant,without notice or resort to legal process and without Landlord being deemed guilty of trespass,
or becoming liable for any loss or damage which may be occasioned thereby. In addition, and to the extent permitted by
law, in the event of re-entry by Landlord, Landlord may, but shall not be required to, padlock or otherwise secure the
entrances to the leased premises without prior notice or resort to legal process and without being deemed guilty of
trespass or becoming liable for any loss or damage; all costs and expenses incurred by Landlord in securing the entrances
to the leased premises shall be borne by Tenant and shall be payable to Landlord on ten(10) days'written notice; and any
such padlocking or securing of the premises shall not constitute or be deemed as an election on Landlord's part to
terminate this Lease unless a written notice of such intention shall be given to Tenant or unless the termination of this
Lease is decreed by a court of competent jurisdiction. In the event Tenant shall not remove its property from the leased
premises within ten (10) days after Tenant has vacated the premises, then such property shall be deemed abandoned by
Tenant and Landlord may dispose of the same without liability to Tenant. At any time that Tenant has failed to pay rent
or other charges within ten(10) days after the same shall be due,thereafter Landlord shall not be obligated to accept any
payment from Tenant unless such payment is made in certified funds.
SECTION 14.02. RIGHT TO RELET. Should Landlord elect to re-enter, as herein provided,or should it take
possession pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease
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or it may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in
order to relet the premises, and relet said premises or any part thereof for such term or terms (which may be for a term
extending beyond the term of this Lease) and at such rent and upon such other terms and conditions as Landlord in its
sole discretion may deem advisable. Upon each such reletting all rents and other sums received by Landlord from such
reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to
Landlord; second, to the payment of any costs and expenses of such reletting, including reasonable brokerage fees and
attorneys' fees and the costs of any alterations and repairs; third,to the payment of rent and other charges due and unpaid
hereunder with respect to the period of the reletting; and the excess, if any, shall be held by Landlord without credit to
Tenant. If such rents and other sums received from such reletting during any month be less than that to be paid during
that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord; if such rents and the sums shall be more,
Tenant shall have no right to, and shall receive no credit for, the excess. Such deficiency shall be calculated and paid
monthly. No re-entry or taking possession of the leased premises by Landlord shall be construed as an election on its part
to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is
decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at
any time elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any
breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of
such breach,including the cost of recovering the leased premises,reasonable attorneys' fees, and including the amount of
rent and charges reserved in this Lease for the remainder of the stated term over, all of which amounts shall be
immediately due and payable from Tenant to Landlord. Nothing contained in this Lease shall be construed to limit or
prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or re-entry
of the leased premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute
or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved,
whether or not such amount shall be greater than any of the sums referred to in this Section.
SECTION 14.03. EXPENSES. In case suit shall be brought for recovery of possession of the leased premises,
for the recovery of rent or any other amount due under the provisions of this Lease, or because of the breach of any other
covenant herein contained on the part of Tenant to be kept and performed, and a breach shall be established,Tenant shall
pay to Landlord all expenses incurred therefor,including reasonable attorneys'fees.
SECTION 14.04. WAIVER OF TRIAL BY JURY. Landlord and Tenant waive their right to trial by jury in
any action,proceeding or counterclaim brought by either of the parties hereto against the other(except for personal injury
or property damage)on any matters whatsoever arising out of or in any way connected with this Lease,the relationship of
Landlord and Tenant, Tenant's use of or occupancy of said premises, and any emergency statutory or any other statutory
remedy.
ARTICLE XV. BANKRUPTCY OR INSOLVENCY
SECTION 15.01. TENANT'S INTEREST NOT TRANSFERABLE. Neither Tenant's interest in this Lease,
nor any estate hereby created in Tenant nor any interest herein or therein, shall pass to any trustee, except as may
specifically be provided pursuant to the Bankruptcy Code (11 USC § 101 et. seq.), or to any receiver or assignee for the
benefit of creditors or otherwise by operation of law.
SECTION 15.02. TERMINATION. In the event the interest or estate created in Tenant hereby shall be taken
in execution or by other process of law, or if Tenant or Tenant's Guarantor, if any, or Tenant's executors, administrators,
or assigns, if any, shall be adjudicated insolvent or bankrupt pursuant to the provisions of any state law or an order for the
relief of such entity shall be entered pursuant to the Bankruptcy Code, or if a receiver or trustee of the property of Tenant
or Tenant's Guarantor, if any, shall be appointed by reason of the insolvency or inability of Tenant or Tenant's Guarantor,
if any,to pay its debts, or if any assignment shall be made of the property of Tenant or Tenant's Guarantor, if any, for the
benefit of creditors, then and in any such events, this Lease and all rights of Tenant hereunder shall automatically cease
and terminate with the same force and effect as though the date of such event were the date originally established herein
and fixed for the expiration of the term, and Tenant shall vacate and surrender the leased premises but shall remain liable
as herein provided. Notwithstanding the foregoing provisions of this Section, in the event that such termination shall
result solely from the bankruptcy or insolvency of, or such other described event relating to,Tenant's Guarantor,Landlord
shall have the option to reinstate all of the provisions of this Lease upon written notice to Tenant.
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ARTICLE XVI. ACCESS BY LANDLORD
SECTION 16.01. RIGHT OF ENTRY. Landlord or Landlord's agents shall have the right to enter the leased
premises at all reasonable times to examine the same and to show them to prospective purchasers or mortgagees.
Landlord or Landlord's agents shall have the further right to enter the leased premises to make such repairs, alterations,
improvements or additions as Landlord may deem necessary or desirable, irrespective of whether the work shall be for
the leased premises or for other premises or facilities, and Landlord shall be allowed to take all material into and upon the
leased premises that may be required therefor without the same constituting an eviction of Tenant in whole or in part, and
the rent and other charges reserved shall in no wise abate while said repairs, alterations, improvements, or additions are
being made, by reason of loss or interruption of business of Tenant, or otherwise. If an additional specifically written
temporary agreement between the Landlord and Tenant exists, and a repair commenced by the Landlord causes an
interruption of Tenant's business, an abatement of rent may be provided for based on the untenable square footage.
Landlord may,at any time, exhibit the leased premises to prospective tenants or other parties.
ARTICLE XVII. TENANT'S PROPERTY
SECTION 17.01. TAXES ON TENANT'S PROPERTY. Tenant shall be responsible for,and shall pay,prior
to delinquency,any and all taxes,assessments, levies, fees and other governmental charges of every kind or nature(for all
purposes under this Lease, collectively called "taxes") levied or assessed by municipal, county, state, federal or other
taxing or assessing authority upon, against or with respect to (i) the leased premises or any leasehold interest, (ii) all
furniture, fixtures, equipment and any personal property of any kind owned by Tenant or any previous tenant and
occupant, and which is placed, installed or located in, within, upon or about the leased premises, (iii) all alterations,
additions or improvements of whatsoever kind or nature, if any, made to and contained within the leased premises, by
Tenant or any previous tenant or occupant, and(iv)rents or other charges payable by Tenant to Landlord, irrespective of
whether any of the terms described in clauses (i) through (iv) above are assessed against real or personal property, and
irrespective of whether any of such items are assessed to or against Landlord or Tenant. If at any time during the term of
this Lease any of such taxes are not levied and assessed separately and directly to Tenant (for example, if the same are
levied or assessed to Landlord, or upon or against the building containing the leased premises and/or the land underlying
said building), Tenant shall pay to Landlord Tenant's share thereof as reasonably determined by Landlord. Landlord shall
supply Tenant with a copy of any Taxes levied,due or paid.
SECTION 17.02. LOSS AND DAMAGE. Landlord shall not be responsible or liable to Tenant for any loss or
damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises or any part
of the premises adjacent to or connected with the premises hereby leased or any part of the building of which the leased
premises are a part, or any other area in the development, or for any loss or damage resulting to Tenant or its property
from bursting, stoppage or leaking of water, gas, sewer or steam pipes, or (without limiting the foregoing) for any
damages or loss of property within the leased premises from any cause whatsoever.
SECTION 17.03. NOTICE BY TENANT. Tenant shall give prompt notice to Landlord in case of any damage
to or destruction of all or any part of, or accidents in, the leased premises or of defects therein or in alterations,
decorations, additions or improvements,including,without limitation,any fixtures or equipment.
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ARTICLE XVIII. HOLDING OVER
SECTION 18.01. HOLDING OVER. Tenant shall have no right to remain in possession of all or any portion
of the leased premises after the expiration of the lease term, or option period, if applicable. Any holding over after the
expiration of the term hereof with the consent of the Landlord, shall be construed to be a tenancy from month to month at
a monthly minimum rent of not less than one hundred fifty percent (150%) of the Minimum Rent at the time of the
Holding Over,together with an amount estimated by Landlord for the monthly additional charges payable pursuant to this
Lease, and shall otherwise be on the same terms and conditions as herein specified so far as applicable, subject to any
changes in any of the foregoing terms or conditions as may be submitted by Landlord to Tenant upon at least thirty(30)
days' prior written notice. Any holding over without Landlord's consent shall entitle Landlord to re-enter the leased
premises as provided in Section 14.01 of this Lease.
SECTION 18.02. SUCCESSORS. All rights and liabilities herein given to, or imposed upon, the respective
parties hereto shall extend to and bind the several respective heirs, executors, administrators, successors, and assigns of
the said parties; and if there shall be more than one person or entity comprising Tenant,they shall all be bound jointly and
severally by the terms,covenants and agreements herein. No rights,however, shall inure to the benefit of any assignee of
Tenant unless the assignment shall be permitted under this Lease.
ARTICLE XIX. RULES AND REGULATIONS
SECTION 19.01. RULES AND REGULATIONS. Tenant agrees to comply with and observe all rules and
regulations established by Landlord and The Obermeyer Place Condominium Association from time to time. Tenant's
failure to keep and observe said rules and regulations shall constitute a breach of the terms of this Lease in the same
manner as if the rules and regulations were contained herein as covenants. In the case of any conflict between said rules
and regulations and this Lease,this Lease shall be controlling.
ARTICLE XX. QUIET ENJOYMENT
SECTION 20.01. LANDLORD'S COVENANT. Upon payment by Tenant of the rents herein provided, and
upon the observance and performance of all covenants, terms and conditions on Tenant's part to be observed and
performed, Tenant shall peaceably and quietly hold and enjoy the leased premises for the term hereby demised without
hindrance or interruption by Landlord or any other person or persons lawfully or equitably claiming by,through or under
Landlord, subject, nevertheless, to the terms and conditions of this Lease and any mortgage, deed of trust or underlying
lease to which this Lease is subordinate. Landlord shall not be responsible for any alterations, renovations, remodeling,
or construction caused by any neighboring property owners. Tenant shall have no claim as against Landlord for any
damage, disruption of services, disruption of Tenant's activities or for any cause arising out of any work performed by
such third parties. Tenant and Landlord acknowledge and agree that there will be no pro-ration of rent for disturbances
caused by the aforementioned activities.
ARTICLE XXL SECURITY PROVISION
SECTION 21.01. SECURITY. The amount set forth in the Data Sheet as a security deposit is payable by
Tenant, upon the execution of this Lease by Tenant, in the manner and at the place where minimum rent is payable.
Landlord is to retain said amount as security for the faithful performance of all covenants, conditions and agreements of
this Lease. Such amount is occasionally referred to herein as the "security." Landlord may, at its option, apply the
security to remedy defaults in the payment of any rent or other charge hereunder,to repair damages to the leased premises
caused by Tenant, or to clean the leased premises upon the expiration or termination of this Lease, or if the Tenant failed
to clean to a satisfactory standard know as "broom clean"as inspected by the Landlord or Landlords agents. In no event
however, shall Landlord be obligated to apply the security. Landlord's right to bring a special proceeding to recover or
otherwise to obtain possession of the leased premises before or after Landlord's declaration of the termination of this
Lease for nonpayment of rent or for any other reason shall not in any event be affected by reason of the fact that Landlord
holds such security. Such security, if not applied toward the payment of rent in arrears or toward the payment of damages
suffered by Landlord by reason of Tenant's breach of the covenants, conditions and agreements of this Lease, is to be
returned to Tenant without interest, except as provided by law, when this Lease is terminated according to its terms,but in
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no event is such security to be returned until Tenant has vacated the leased premises and delivered possession thereof to
Landlord. In the event that Landlord repossesses itself of the leased premises,whether by special proceeding or re-entry
or otherwise, because of Tenant's default or failure to carry out the covenants, conditions and agreements of this Lease,
Landlord may apply such security upon all damages suffered to the date of said repossession and may retain the security
to apply upon such damages as may be suffered or shall accrue thereafter by reason of Tenant's default or breach. In the
event any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against
Tenant, or its successors or assigns, or any guarantor of Tenant hereunder, such security shall be deemed to be applied
first to the payment of any rents and/or other charges due Landlord for all periods prior to the institution of such
proceedings, and the balance, if any, of such security may be retained by Landlord in partial liquidation of Landlord's
damages. Landlord shall be obligated to keep such security as a separate fund and may not commingle the security with
its own funds. The Landlord is entitled to all interest on the Security Deposit account. In the event Landlord applies the
security in whole or in part, Tenant shall, upon demand by Landlord, deposit sufficient funds to maintain the security in
the initial amount. Failure of Tenant to deposit such additional security shall entitle Landlord to avail itself of the
remedies provided in this Lease for nonpayment of rent by Tenant. The acceptance by Landlord of the security deposit
submitted by Tenant shall not render this Lease effective unless and until Landlord shall have executed and actually
delivered to Tenant a fully-executed copy of this Lease.
ARTICLE XXH. MISCELLANEOUS
SECTION 22.01. WAIVER; ELECTION OF REMEDIES. The subsequent acceptance of rent hereunder by
Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term,covenant or condition of this
Lease, other than the failure of Tenant to pay the particular rent so accepted, regardless of Landlord's knowledge of such
preceding breach at the time of acceptance of such rent. In particular, but without limitation, if Tenant assigns or
transfers its interest in this Lease contrary to the terms of this Lease, any acceptance by Landlord of such assignee's or
transferee's payment shall not be deemed to be a waiver of the restrictions set forth herein. In the event that Tenant shall
be at any time in default of both monetary and nonmonetary terms,covenants or conditions of this Lease, any acceptance
by Landlord of any payment rendered by Tenant shall not have the effect of curing Tenant's nonmonetary defaults and
shall not have the effect of curing any monetary default other than the particular amount owing for which such payment is
specifically accepted by Landlord. Following notice of termination or any other remedy exercised by Landlord with
respect to any monetary default of Tenant, such default shall not be deemed cured by the payment of rent owing by
Tenant for the current period only, and Landlord may apply such payments to current rent only without any effect upon
Tenant's existing indebtedness and continuing monetary default, notwithstanding any contrary instructions by or on
behalf of Tenant, which instructions shall be null and void and of no effect. In addition, after the service of notice or the
commencement of a suit, or after final judgment for the possession of the leased premises, Landlord may receive and
collect rent due from Tenant, and the payment of rent by Tenant shall not waive or affect said notice or suit or judgment.
One or more waivers of any covenant or condition by Landlord shall not be construed as a waiver of a subsequent breach
of the same covenant or condition, and the consent or approval by Landlord to or of any act by Tenant requiring
Landlord's consent or approval shall not be deemed to render unnecessary Landlord's consent or approval to or of any
subsequent similar act by Tenant. The failure of Landlord to insist upon a strict performance of any term, condition or
covenant contained in this Lease shall not be deemed a waiver of any rights or remedies that Landlord may have and shall
not be deemed a waiver of any subsequent breach or default in the terms, conditions or covenants herein contained, and
any such failure shall not be construed as creating a custom of Landlord's accepting other than strict performance or as
modifying in any way the terms, covenants or conditions of this Lease. No breach by Tenant of a covenant or condition
of this Lease shall be deemed to have been waived by Landlord unless such waiver is in writing signed by Landlord. No
act or thing done by Landlord or Landlord's agents shall be deemed an acceptance of surrender of the leased premises and
no agreement to accept such surrender shall be valid unless in writing signed by Landlord. In addition to any and all
other remedies available to Landlord, Landlord may obtain an injunction to restrain any breach or threatened breach of
any term, covenant or condition of this Lease. The rights and remedies of Landlord under this Lease or under any
specific section, subsection or clause hereof shall be cumulative and in addition to any and all other rights and remedies
which Landlord has or may have elsewhere under this Lease or at law or equity, whether or not such section, subsection
or clause expressly so states. Nothing contained in this Lease shall be construed to confer upon any person or entity other
than Landlord or Tenant any rights, benefits or causes of action, except to the extent specifically otherwise provided in
this Lease and except to the extent provided for the benefit of any mortgagee or deed-of-trust beneficiary.
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SECTION 22.02. ENTIRE AGREEMENT. The exhibits attached hereto form a part of this Lease and shall
be given full force and effect, as fully as if set forth at length herein. This Lease and said exhibits so attached hereto and
forming a part hereof, set forth all the covenants,promises, agreements, conditions and understandings between Landlord
and Tenant concerning the leased premises, and there are no covenants, promises, agreements, conditions or
understandings, either oral or written, between them other than as are herein set forth. Tenant has not relied upon any
representation of Landlord or its agents, other than any items contained in this Lease, as an inducement to enter into this
Lease. No alteration, amendment, change or addition to this Lease shall be binding upon Landlord or Tenant unless
reduced to writing and signed by each party.
SECTION 22.03. INTERPRETATION AND USE OF PRONOUNS. Nothing contained herein shall be
deemed or construed by the parties hereto, nor by any third party, as creating the relationship of principal and agent or of
partnership or of joint venture between the parties hereto, it being understood and agreed that neither the method of
computation of rent,nor any other provision contained herein,nor any acts of the parties herein shall be deemed to create
any relationship between the parties hereto other than the relationship of Landlord and Tenant. Whenever herein the
singular number is used the same shall include the plural, and the masculine gender shall include the feminine and neuter
genders.
SECTION 22.04. NOTICES. Unless specifically stated to the contrary in this Lease, all notices to or demands
upon the Landlord or Tenant desired or required to be given under any of the provisions hereof shall be deemed to
have been duly and sufficiently given if a copy thereof shall have been transmitted via facsimile, hand-delivered or
mailed by United States first class mail, in an envelope properly stamped and addressed to the Tenant at
(Fax: ), or at such other
address as Tenant may theretofore have furnished by written notice to Landlord; and any notices or demands from the
Tenant to the Landlord shall be deemed to have been duly and sufficiently given if a copy thereof shall have been
transmitted via facsimile, hand-delivered or mailed by United States first class mail in an envelope properly stamped
and addressed to the Landlord at OBP, LLC, 117 S. Spring Street, Suite 202, Aspen, Colorado 81611 (Telephone:
970/920-9500; Fax: 970/920-2363), or at such other address as Landlord may have furnished by written notice to
Tenant.
SECTION 22.05. CAPTIONS AND SECTION NUMBERS. The captions, section numbers,article numbers,
and index appearing in this Lease are inserted only as a matter of convenience and in no way define, limit, construe, or
describe the scope or intent of such sections or articles of this Lease,nor in any way affect this Lease.
SECTION 22.06. BROKER'S COMMISSION. The City of Aspen agrees to pay any broker's commissions or
finder's fees directly to any broker,agency,consultant or representative listed below,who was used by The City of Aspen
in procurement of this lease. Each party represents and warrants to the other party that the warrantor has dealt with no
brokers,unless listed below, and that there are no claims for brokerage commissions or finder's fees,unless stated below,
nor will there be any such claim, arising from any act or omission of the warrantor in connection with this Lease, and the
warrantor agrees to indemnify the other party and hold it harmless from all liabilities arising from any such claim,
including, without limitation, the cost of attorneys' fees in connection therewith. Such agreement shall survive the
termination of this Lease.
Tenant's broker: ,any and all commissions due are payable by Tenant.
SECTION 22.07. RECORDING. Tenant shall not record this Lease or any memorandum, affidavit or other
notice of this Lease.
SECTION 22.08. TRANSFER OF LANDLORD'S INTEREST. In the event of any transfer or transfers of
Landlord's interest in the premises, including a so-called sale-leaseback, the transferor shall be automatically relieved of
any and all obligations on the part of Landlord accruing from and after the date of such transfer, provided that (a) the
interest of the transferor, as Landlord, in any funds then in the hands of Landlord in which Tenant has an interest shall be
turned over, subject to such interest,to the then transferee; and(b)notice of such sale, transfer or lease shall be delivered
to Tenant as required by law; and (c) provided however, that the transferee shall assume all of the unperformed terms,
covenants and conditions of Landlord under this Lease arising after the date of such transfer. Upon the termination of
any such lease in a sale-leaseback transaction prior to termination of this Lease, the former lessee thereunder shall
Landlord Initials Tenant Initials Tenant Initials PRINT DATE:August 13,2014
`^ Page 20 of 23
become and remain liable as Landlord hereunder until a further transfer. No holder of a mortgage or deed of trust, or
underlying lessor on an underlying lease, to which this Lease is or may be subordinate, and no lessor under a so-called
sale-leaseback shall be responsible in connection with the security deposited hereunder,unless such mortgagee,holder of
such deed of trust,underlying lessor or lessor shall have actually received the security deposited hereunder.
SECTION 22.09. FLOOR AREA. The term"floor area" as used in this Lease means, with respect to any
leasable area in the Leased Premise or in the subdivision, the aggregate number of square feet of floor space of all floor
levels therein. No deduction or exclusion from floor area shall be made by reason of columns, ducts, stairs, elevators,
escalators, shafts, or other interior construction or equipment. In the event Landlord determines that the square foot area
of the leased premises is at variance with the square foot area stated in this Lease, Landlord may, at its option, adjust the
floor area of the leased premises and make proportional adjustments in minimum rent, additional rent and other charges
to Tenant under this Lease.
SECTION 22.10. INTEREST ON PAST DUE OBLIGATIONS. Any amount due from Tenant to Landlord
hereunder which is not paid when due(including,without limitation,amounts due as reimbursement to Landlord for costs
incurred by Landlord in performing obligations of Tenant hereunder upon Tenant's failure to so perform) shall bear
interest at the rate of four(4)percentage points over the prime rate of interest as published in the Money Rates column of
The Wall Street Journal (but only up to and not to exceed the rate then allowed under the usury laws of the State) from
the date due until paid,unless otherwise specifically provided herein,but the payment of such interest shall not excuse or
cure any default by Tenant under this Lease.
SECTION 22.11. ACCORD AND SATISFACTION. Payment by Tenant or receipt by Landlord of a lesser
amount than the rent or other charges herein stipulated may be, at Landlord's sole option, deemed to be on account of the
earliest due stipulated rent or other charges, or deemed to be on account of rent owing for the current period only,
notwithstanding any instructions by or on behalf of Tenant to the contrary,which instructions shall be null and void, and
no endorsement or statement on any check or any letter accompanying any check payment as rent or other charges shall
be deemed an accord and satisfaction, and Landlord shall accept such check or payment without prejudice to Landlord's
right to recover the balance of such rent or other charges or pursue any other remedy in this Lease or in law or in equity
against Tenant.
SECTION 22.12. GOVERNING LAW. This Lease shall be governed by and construed in accordance with
the laws of the State of Colorado. If any provision of this Lease or the application thereof to any person or circumstances
shall, to any extent, be invalid or unenforceable, the remainder of this Lease shall not be affected thereby and each
remaining provision of the Lease shall be valid and enforceable to the full extent permitted by the law. Tenant appoints
the following persons at the following locations as agent to receive service of process,writs,notices, summonses,or other
legal documents in any suit, action or proceeding which Landlord may commence against Tenant: any officer,partner or
other principal of Tenant, or any person in charge, at the Tenant's address as set forth on Page Dl of this Lease. Where
permitted by law or local court rule, Tenant consents to service of such process by United States mail, in the manner
specified in the applicable law or court rule.
SECTION 22.13. SPECIFIC PERFORMANCE OF LANDLORD'S RIGHTS. Landlord shall have the
right to obtain specific performance of any and all of the covenants or obligations of Tenant under this Lease,and nothing
contained in this Lease shall be construed as or shall have the effect of abridging such right.
SECTION 22.14. CERTAIN RULES OF CONSTRUCTION. Time is of the essence in this Lease.
Notwithstanding the fact that certain references elsewhere in this Lease to acts required to be performed by Tenant
hereunder omit to state that such acts shall be performed at Tenant's sole cost and expense, unless the context clearly
implies to the contrary, each and every act to be performed or obligations to be fulfilled by Tenant pursuant to this Lease
shall be performed or fulfilled at Tenant's sole cost and expense. Any breach or default by Tenant of its obligations under
this Lease which continues beyond any applicable grace or cure period in this Lease shall be deemed material. Tenant
shall be fully responsible and liable for the observance and compliance by concessionaires with all the terms and
conditions of this Lease, which terms and conditions shall be applicable to concessionaires as fully as if such
concessionaires were the Tenant hereunder; any failure by a concessionaire fully to observe and comply with the terms
and conditions of this Lease shall constitute a default hereunder by Tenant. Nothing contained in the preceding sentence
Landlord Initials Tenant Initials Tenant Initials PRINT DATE:August 13,2014
Page 21 of 23
shall constitute a consent by Landlord to any concession, subletting or other arrangement proscribed by the terms of this
Lease. All provisions of this Lease have been freely negotiated by and between the parties.
SECTION 22.15. SURVIVAL; NONDISCLOSURE; FREE ACT. The obligations of Tenant for payment of
rent and charges under this Lease shall survive the expiration or earlier termination of the term of this Lease. Tenant
covenants that neither Tenant nor any attorney or other representative for Tenant shall disclose the contents of this Lease
to any other person or entity provided Tenant may disclose the contents of this Lease (i) to comply with any
governmental orders, laws,rules or regulations applicable to it or its principals, (ii)to professionals assisting Tenant to so
comply and (iii) to any potential investors in, lenders to or purchasers of Tenant's business; provided however Tenant
warrants to Landlord that all of the individuals who, and entities which, are recipients of such information shall comply
with the confidentiality provisions of this Section. By its execution of this Lease,Tenant acknowledges and agrees that it
has read this Lease,understands the contents hereof,and is signing this Lease as its own free act and deed,and as the free
act and deed of the representatives signing on Tenant's behalf,without any persuasion or coercion by any person or entity,
and with full advice of counsel.
In confirmation of their agreement to enter into this Lease (including the Data Sheet, Standard Form, Rules &
Regulations, Guaranty and all exhibits attached hereto), and intending to be bound hereby, Landlord and Tenant have
signed and sealed this Lease as of the day and year first above written on the Data Sheet above.
LANDLORD
OBP,LLC,a Colorado limited liability company
By:
Name: Michael Sailor
Title: Manager
Address: OBP,LLC
C/o Michael Sailor
117 S. Spring Street, Suite 202
Aspen,CO 81611
TENANT(S)
By:
Print Name
Its:
Print Title
And:
Print Name
Its:
Print Title
Tenant's Federal Tax Identification Number:
Landlord Initials Tenant Initials Tenant Initials PRINT DATE: August 13,2014
Page 22 of 23
GUARANTY
Annexed to and forming a part of Lease dated , by and between OBP, LLC, a Colorado
limited liability company, as Landlord, and , as Tenant.
The undersigned, (hereinafter sometimes referred to as the
"Guarantor"or"Guarantor(s)"),whose address is , in consideration of the
leasing of the leased premises described in the annexed Lease ("Lease") to the above named Tenant ("Tenant"), does
hereby covenant and agree as follows:
A. The undersigned does hereby absolutely, unconditionally and irrevocably guarantee the full, faithful and
timely payment and performance by Tenant of all of the payments, covenants and other obligations of Tenant
under or pursuant to the Lease. If Tenant shall default at any time in the payment of any rent or any other
sums, costs or charges whatsoever, or in the performance of any of the other covenants and obligations of
Tenant, under or pursuant to the Lease,then the undersigned, at its expense, shall on demand of said Landlord
("Landlord") fully and promptly, and well and truly,pay all rent, sums, costs and charges to be paid by Tenant,
and perform all the other covenants and obligations to be performed by Tenant,under or pursuant to the Lease,
and in addition shall on Landlord's demand pay to Landlord any and all sums due to Landlord, including
(without limitation) all interest on past due obligations of Tenant, costs advanced by Landlord, and damages
and all expenses (including attorneys' fees and litigation costs), that may arise in consequence of Tenant's
default. The undersigned hereby waives all requirements of notice of the acceptance of this Guaranty and all
requirements of notice of breach or non-performance by Tenant.
B. The obligations of the undersigned hereunder are independent of, and may exceed, the obligations of Tenant.
A separate action or actions may, at Landlord's option, be brought and prosecuted against the undersigned,
whether or not any action is first or subsequently brought against Tenant, or whether or not Tenant is joined in
any such action, and the undersigned may be joined in any action or proceeding commenced by Landlord
against Tenant arising out of, in connection with or based upon the Lease. The undersigned waives any right
to require Landlord to proceed against Tenant or pursue any other remedy in Landlord's power whatsoever,
any right to complain of delay in the enforcement of Landlord's rights under the Lease, and any demand by
Landlord and/or prior action by Landlord of any nature whatsoever against Tenant, or otherwise.
C. This Guaranty shall remain and continue in full force and effect and shall not be discharged in whole or in part
notwithstanding (whether prior or subsequent to the execution hereof) any alteration, renewal, extension,
modification, amendment or assignment of, or subletting, concession, franchising, licensing or permitting
under, the Lease. Without limiting the foregoing, this Guaranty shall be applicable to any obligations of
Tenant arising in connection with a termination of the Lease, whether voluntary or otherwise. The
undersigned hereby waives notices of any of the foregoing, and agrees that the liability of the undersigned
hereunder shall be based upon the obligations of Tenant set forth in the Lease as the same may be altered,
renewed, extended, modified, amended or assigned. For the purpose of this Guaranty and the obligations and
liabilities of the undersigned hereunder, "Tenant" shall be deemed to include any and all concessionaires,
licensees, franchisees, department operators, assignees, subtenants, permittees or others directly or indirectly
operating or conducting a business in or from the leased premises, as fully as if any of the same were the
named Tenant under the Lease.
D. The undersigned's obligations hereunder shall remain fully binding although Landlord may have waived one or
more defaults by Tenant, extended the time of performance by Tenant, released, returned or misapplied other
collateral at any time given as security for Tenant's obligations (including other guaranties) and/or released
Tenant from the performance of its obligations under the Lease or terminated the Lease.
E. This Guaranty shall remain in full force and effect notwithstanding the institution by or against Tenant, of
bankruptcy, reorganization, readjustment, receivership or insolvency proceedings of any nature, or the
disaffirmance of the Lease in any such proceedings or otherwise.
Landlord Initials Tenant Initials Tenant Initials PRINT DATE: August 13,2014
Page 23 of 23
F. If this Guaranty is signed by more than one party, or if more than one Guaranty shall be given as security for
the performance of Tenant's obligations under the Lease, then the obligations of such parties and any other
guarantors shall be joint and several, and the release of one of such guarantors shall not release any other of
such guarantors.
G. This Guaranty shall be applicable to and binding upon the heirs, executors, administrators, representatives,
successors and assigns of Landlord, Tenant and the undersigned. Landlord may, without notice, assign this
Guaranty in whole or in part.
H. In the event that Landlord should institute any suit against the undersigned for violation of or to enforce any of
the covenants or conditions of this Guaranty or to enforce any right of Landlord hereunder, or should the
undersigned institute any suit against Landlord arising out of or in connection with this Guaranty, or should
either party institute a suit against the other for a declaration of rights hereunder, or should either party
intervene in any suit in which the other is a party to enforce or protect the intervening party's interest or rights
hereunder, Landlord shall receive from the undersigned all costs and expenses paid or incurred by Landlord in
connection therewith, including, without limitation, the fees of its attorney(s), to be determined by the court
and taxed as a part of the costs therein.
1. The undersigned hereby waives trial by jury in any action, proceeding or counterclaim brought by any person
or entity with respect to any matter whatsoever arising out of or in any way connected with: this Guaranty; the
Lease; any liability or obligation of Tenant in any manner related to the leased premises; any claim of injury or
damage in any way related to the Lease or the leased premises; any act or omission of Tenant, its agents,
employees, contractors, suppliers, servants, customers or licensees; or any aspect of the use or occupancy of,
or the conduct of business in, on or from the leased premises. The undersigned shall not impose any
counterclaim or counterclaims or claims for set-off, recoupment or deduction of rent in any action brought by
Landlord against the undersigned under this Guaranty. The undersigned shall not be entitled to make, and
hereby waives, any and all defenses against any claim asserted by Landlord or in any suit or action instituted
by Landlord to enforce this Guaranty or the Lease. In addition, the undersigned hereby waives, both with
respect to the Lease and with respect to this Guaranty, any and all rights which are waived by Tenant under the
Lease, in the same manner as if all such waivers were fully restated herein. The liability of the undersigned
under this Guaranty is primary and unconditional.
J. The undersigned shall not be subrogated, and hereby waives any and all rights of subrogation (if any), to any
of the rights of Landlord under the Lease or otherwise, or to or in the leased premises thereunder, which may
arise by reason of any of the provisions of this Guaranty or by reason of the performance by the undersigned of
any of its obligations hereunder. The undersigned shall look solely to Tenant for any recoupment of any
payments made or costs or expenses incurred by the undersigned pursuant to this Guaranty.
K. Any default or failure by the undersigned to perform any of its obligations under this Guaranty shall be
deemed to be an immediate default by Tenant under the Lease.
L. The execution of this Guaranty prior to execution of the Lease shall not invalidate this Guaranty or lessen the
obligations of Guarantor(s)hereunder.
IN WITNESS WHEREOF, the undersigned has executed this Guaranty this day of , 20
Signed
Name (printed)
Landlord Initials Tenant Initials Tenant Initials PRINT DATE:August 13,2014
Old Republic National Title Insurance Company
ALTA COMMITMENT
Our Order No. QTF62004938-2
Schedule A Cust. Ref.:
Property Address:
101 FOUNDERS PL# 105 & 104 ASPEN, CO 81611
1. Effective Date: December 27. 2012 at 5:00 P.M.
2. Policy to be Issued, and Proposed Insured:
"ALTA" Loan Policy 06-17-06 $545,000.00
Proposed Insured:
BANK OF THE WEST, ITS SUCCESSORS AND/OR ASSIGNS
3. The estate or interest in the Land described or referred to in this Commitment and covered herein is:
A Fee Simple
4. Title to the estate or interest covered herein is at the effective date hereof vested in:
OBP, LLC, A COLORADO LIMITED LIABILITY COMPANY
5. The Land referred to in this Commitment is described as follows:
CONDOMINIUM UNITS 104 AND 105, CRESCENT BUILDING, OBERMEYER PLACE CONDOMINIUMS,
ACCORDING TO THE CONDOMINIUM MAP OF THE OBERMEYER PLACE CONDOMINIUMS RECORDED
JULY 26, 2006 IN PLAT BOOK 80 AT PAGE 57 UNDER RECEPTION NO. 526898 AND FIRST
SUPPLEMENT RECORDED SEPTEMBER 19, 2006 UNDER RECEPTION NO. 528770, AND AS
DEFINED AND DESCRIBED IN THE CONDOMINIUM DECLARATION FOR THE OBERMEYER PLACE
CONDOMINIUMS, RECORDED JULY 26, 2006 UNDER RECEPTION NO. 526895 AND FIRST
AMENDMENT RECORDED SEPTEMBER 19, 2006 UNDER RECEPTION NO. 528769.
COUNTY OF PITKIN, STATE OF COLORADO.
ALTA COMMITMENT
SCHEDULE B-1
(Requirements) Our Order No. QTF62004938-2
The following are the requirements to be complied with:
Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be
insured.
Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit:
1. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE
NAME OF OBP, LLC, A COLORADO LIMITED LIABILITY COMPANY AS A LLC, OR
WRITTEN CONFIRMATION THAT THE INFORMATION CONTAINED IN STATEMENT OF
AUTHORITY RECORDED JANUARY 11, 2008 UNDER RECEPTION NO. 545807 IS CURRENT.
THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTITY WAS
CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF
THE PERSON(S) AUTHORIZED TO EXECUTE INSTRUMENTS CONVEYING, ENCUMBERING, OR
OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY AND
OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 38-30-172, CRS.
NOTE: THE CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK
AND RECORDER.
2. RELEASE OF DEED OF TRUST DATED NOVEMBER 28, 2007 FROM OBP, LLC, A COLORADO
LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF PITKIN COUNTY FOR THE
USE OF COLORADO HOUSING AND FINANCE AUTHORITY TO SECURE THE SUM OF
$630,000.00 RECORDED JANUARY 11, 2008, UNDER RECEPTION NO. 545809.
3. RELEASE OF FINANCING STATEMENT WITH COLORADO HOUSING AND FINANCE AUTHORITY,
THE SECURED PARTY, RECORDED JANUARY 11, 2008, UNDER RECEPTION NO. 545810.
4. DEED OF TRUST FROM OBP, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE
PUBLIC TRUSTEE OF PITKIN COUNTY FOR THE USE OF BANK OF THE WEST TO SECURE
THE SUM OF$545,000.00.
ITEMS 1-4 OF THE STANDARD EXCEPTIONS WILL BE DELETED FROM THE MORTGAGEE'S
TITLE POLICY WHEN ISSUED UPON RECEIPT OF A SATISFACTORY LIEN AFFIDAVIT.
ALTA COMMITMENT
SCHEDULE B-2
(Exceptions) Our Order No. QTF62004938-2
The policy or policies to be issued will contain exceptions to the following unless the same are disposed
of to the satisfaction of the Company:
1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an
inspection of the Land or that may be asserted by persons in possession of the Land.
2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.
3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.
4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not
shown by the Public Records.
5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public Records
or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record
for value the estate or interest or mortgage thereon covered by this Commitment.
6. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes
or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes
or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public
Records.
7. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof;
(c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by
the Public Records.
8. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE
UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 29,
1958, IN BOOK 185 AT PAGE 69.
9. TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE NO. 18 (SERIES 2003)
APPROVING FINAL LAND USE APPROVALS AND GRANTING A DEVELOPMENT ORDER FOR
THE OBERMEYER PLACE COWOP PROJECT RECORDED MAY 14, 2003 AT RECEPTION NO.
482691 AND AS AMENDED IN MEMORANDUM RECORDED MARCH 18, 2004 UNDER
RECEPTION NO. 495612 AND AMENDMENT RECORDED MARCH 12, 2004 UNDER RECEPTION
NO. 495383.
10. EASEMENTS, RIGHTS OF WAY AND ALL OTHER MATTERS AS CONTAINED IN THE PLAT
FOR OBERMEYER SUBDIVISION/PLANNED UNIT DEVELOPMENT RECORDED JUNE 7, 2004
IN PLAT BOOK 69 AT PAGE 44 UNDER RECEPTION NO. 498396.
11. TERMS, CONDITIONS AND PROVISIONS OF SUBDIVISION IMPROVEMENTS/PLANNED UNIT
DEVELOPMENT AGREEMENT RECORDED JUNE 7, 2004 AT RECEPTION NO. 498397.
-�
ALTA COMMITMENT
SCHEDULE B-2
(Exceptions) Our Order No. QTF62004938-2
The policy or policies to be issued will contain exceptions to the following unless the same are disposed
of to the satisfaction of the Company:
12. ITEM DELETED.
13. TERMS, CONDITIONS AND PROVISIONS OF MEMORANDUM OF MINOR PUD AMENDMENT
RECORDED MAY 25, 2004 AT RECEPTION NO. 498034.
14. TERMS, CONDITIONS AND PROVISIONS OF ORDINANCE 24-2004 GRANTING A
NON-EXCLUSIVE EASEMENT AND RIGHT OF WAY RECORDED JUNE 03, 2004 AT
RECEPTION NO. 498285 AND RE-RECORDED DECEMBER 16, 2004 UNDER RECEPTION NO.
505186.
15. TERMS, CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT GRANTED TO THE BOARD
OF COUNTY COMMISSIONERS OF PITKIN COUNTY RECORDED JULY 15, 2004 AT
RECEPTION NO. 499687.
16. ITEM DELETED
17. ITEM DELETED.
18. CONDOMINIUM DECLARATIONS, WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER
CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON
RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL
STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF
INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE
EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW,
AS CONTAINED THAT CONDOMINIUM DECLARATION FOR OBERMEYER PLACE CONDOMINIUMS
RECORDED JULY 26, 2006, UNDER RECEPTION NO. 526895 AND AMENDMENT RECORDED
SEPTEMBER 19, 2006 UNDER RECEPTION NO. 528769 AND AMENDMENT RECORDED
JANUARY 16, 2008 UNDER RECEPTION NO. 545904.
19. EASEMENTS, RIGHTS OF WAY AND ALL OTHER MATTERS AS SHOWN ON THAT
CONDOMINIUM EXEMPTION MAP OF OBERMEYER CONDOMINIUMS RECORDED JULY 26, 2006
IN PLAT BOOK 80 AT PAGE 57 UNDER RECEPTION NO. 526898 AND FIRST
SUPPLEMENTAL MAP RECORDED SEPTEMBER 19, 2006 UNDER RECEPTION NO. 528770
AND SECOND SUPPLEMENTAL MAP RECORDED JANUARY 16, 2008 UNDER RECEPTION NO.
545903.
ALTA COMMITMENT
SCHEDULE B-2
(Exceptions) Our Order No. QTF62004938-2
The policy or policies to be issued will contain exceptions to the following unless the same are disposed
of to the satisfaction of the Company:
20. TERMS, CONDITIONS AND PROVISIONS OF DEVELOPMENT ORDER RECORDED AUGUST 15,
2007 AT RECEPTION NO. 541030.
LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION
DISCLOSURE STATEMENTS
Note: Pursuant to CRS 10-11-122, notice is hereby given that:
A) The sub'ect real propertyy may be located in a special taxing district.
B) A Certificate of Taxes Due listing each taxing jurisdiction shall be obtained from the County
Treasurer or the County Treasurers authorized agent.
C) information Commissioners,distt r 1 c y be s d from
t e Board of County he County Clerk andRe order, or the C unt Assessor.
Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing
in the clerk and recorders office shall contain a top margin of at least one inch and a left, right and bottom
margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that
does not space is provided for recording or filing information t the shall not margin of to the document. forms
Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every
title entity shall be responsible for all maters which appear of record prior to the time of recording
whenever the title entity conducts the closing and is responsible for recording or filing of legal
documents resulting from the transaction which was closed". Provided that Land Title Guarantee
Company conducts the closing of the insured transaction and is responsible for recordin the
legal documents from the transaction, exception number 5 will not appear on the Owner s Title
Policy and the Lenders Policy when issued.
Note: Affirmative mechanic's lien rotection for the Owner may be available (typically by deletion
of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner s Policy to be
issued) upon compliance with the following conditions:
A) The land described in Schedule A of this commitment must be a single family residence which
includes a condominium or townhouse unit.
B) No labor or materials have been furnished by mechanics or material-men for purposes of
construction on the land described in Schedule A of this Commitment within the past 6 months.
C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed
mechanics and material-men's hens.
D) The Company must receive payment of the appropriate premium.
E) If there has been construction, improvements or mayor repairs undertaken on the property to be purchased
within six months prior to the Date of the Commitment, the requirements to obtain coverage
for unrecorded liens will include: disclosure of certain construction information; financial information
as to the seller, the builder and or the contractor; payment of the appropriate premium fully
executed Indemnity Agreements satisfactory to the company, and, any additional requirements
as may be necessary at'ter an examination of the aforesaid information by the Company.
No coverage will be given under any circumstances for labor or material for which the insured
has contracted for or agreed to pay.
Note: Pursuant to CRS 10-11-123, notice is hereby given:
This notice applies to owner's policy commitments containing a mineral severance instrument
exception, or exceptions, in Schedule B, Section 2.
A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise
conveyed from the surface estate and that there is a substantial likelihood that a third party
holds some or all interest in oil, gas, other minerals, or geothermal energ in the property; and
B) That such mineral estate may include the right to enter and use the proper y without the
surface owner's permission.
Note: Pursuant to CRS 10-1-128(6)(a), It is unlawful to knowingly provide false, incomplete, or misleading facts or
information to an insurance company for the purpose of defrauding or attempting to defraud the company.
Penalties may include imprisonment, fines, information to an insurance company for the purpose of defrauding or
incomplete, or misleading pfacts yor information to a policyholder or claimant for the purpose of defrauding or attempting
proceeds
attempting eported tolthe Colorado division oflins regard
ance within the department of regulatory agencies.
Nothing herein contained will be deemed to obligate the company to provide any of the coverages
referred to herein unless the above conditions are fully satis5ed.
DISCLOSURE 02/2011
JOINT NOTICE OF PRIVACY POLICY OF
LAND TITLE GUARANTEE COMPANY, LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION,
LAND TITLE INSURANCE CORPORATION AND OLD REPUBLIC NATIONAL TITLE INSURANCE
COMPANY
This Statement is provided to you as a customer of Land Title Guarantee Company and Meridian Land Title,
LLC, as agents for Land Title Insurance Corporation and Old Republic National Title Insurance Company.
We want you to know that we recognize and respect your privacy expectations and the requirements of federal
and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your
trust and confidence is the bedrock of our business. We maintain and regularly review internal and external
safeguards against unauthorized access to non-public personal information ("Personal Information").
In the course of our business, we may collect Personal Information about you from:
* applications or other forms we receive from you, including communications sent through TMX, our
web-based transaction management system;
* your transactions with, or from the services being performed by, us, our affiliates, or others;
* a consumer reporting agency, if such information is provided to us in connection with your transaction;
and
* the public records maintained by governmental entities that we either obtain directly from those entities,
or from our affiliates and non-affiliates.
Our policies regarding the protection of the confidentiality and security of your Personal Information are as
follows:
* We restrict access to all Personal Information about you to those employees who need to know that
information in order to provide products and services to you.
* We maintain physical, electronic and procedural safeguards that comply with federal standards to
protect your Personal Information from unauthorized access or intrusion.
* Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary
action.
* We regularly assess security standards and procedures to protect against unauthorized access to Personal
Information.
WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR
ANY PURPOSE THAT IS NOT PERMITTED BY LAW
Consistent with applicable privacy laws, there are some situations in which Personal Information may be
disclosed. We may disclose your Personal Information when you direct or give us permission; when we are
required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or
criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable
privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement,
transaction or relationship with you.
Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our
privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American
Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction thereof.
Form PRIV.POL.ORT
Commitment to Insure
* # ALTA Commitment•2006 Rev.
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY,a Minnesota corporation,(Company)for a valuable
consideration,commits to issue its policy or policies of title insurance,as identified in Schedule A,in favor of the
Proposed Insured named in Schedule A,as owner or mortgagee of the estate or interest in the land described or
referred to in Schedule A,upon payment of the premiums and charges and compliance with the requirements;all
subject to the provisions of Schedule A and B and to the Conditions of this Commitment.
This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A
by the Company.All liability and obligation under this commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for
shall issue,whichever first occurs,provided that the failure to issue such policy or policies is not the fault of the Company.
CONDITIONS AND STIPULATIONS
1.The term"mortgage",when used herein,shall include deed of trust,trust deed,or other security instrument.
2.If the proposed Insured has or acquires actual knowledge of any defect,lien,encumbrance,adverse claim or other matter affecting the estate or interest or mortgage
thereon covered by this Commitment other than those shown in Schedule B hereof,and shall fail to disclose such knowledge to Company in writing,the Company shall
be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge.
If the proposed Insured shall disclose such knowledge to the Company,or if the Company otherwise acquires actual knowledge of any such defect,lien,encumbrance,
adverse claim or other matter,the Company at its option may amend Schedule B of this Commitment accordingly,but such amendment shall not relieve the Company from
liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations.
3.Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of
policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith(a)to comply with the requirements hereof or(b)to
eliminate exceptions shown in Schedule B,or(c)to acquire or create the estate or interest or mortgage thereon covered by this Commitment.In no event shall such liability
exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and the Conditions and Stipulations
and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and
are made a part of this Commitment except as expressly modified herein.
4.This commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title.Any action or actions
or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest
or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.
5.The policy to be issued contains an arbitration clause.All arbitrable matters when the Amount of Insurance is$2,000,000 or less shall be arbitrated at the option of
either the Company or the Insured as the exclusive remedy of the parties.You may review a copy of the arbitration rules at www.alta.org.
STANDARD EXCEPTIONS
In addition to the matters contained in the Conditions and Stipulations and Exclusions from Coverage above referred to,this Commitment is also subject to the following:
1.Rights or claims of parties in possession not shown by the Public Records.
2.Easements,or claims of easements,not shown by the Public Records.
3.Discrepancies,conflicts in boundary lines,shortage in area,encroachments,and any facts which a correct survey or inspection of the Land would disclose and which are
not shown by the Public Records.
4.Any lien,or right to a lien,for services,labor or material theretofore or hereafter furnished,imposed by law and not shown by the Public Records.
5.Defects,liens,encumbrances,adverse claims or other matters,if any,created,first appearing in the Public Records or attaching subsequent to the effective date hereof but
prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment.
IN WITNESS WHEREOF,Old Republic National Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date
shown in Schedule A to be valid when countersigned by a validating officer or other authorized signatory.
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
A Stock Company
400 Second Avenue South -
Minneapolis,Minnesota 55401 ;'o�P�iTrlr`��1 Mark Bilbrey
(612)371-1111 �� SGP': President -
_� AMERICAN
0- LAND TITLE
rD m-
A horized Sign lure -31 o * ASSOCIATION� 4°dd* �` *day Rande Yeager
ono• xN Secretary "
CC.ORT.06
RECEPTION#: 54580P 01/11/2008 at 02:52:23 PM, 1 OF 4, R $21.00
DF $54.40 Janic Vos Caudill, Pitkin County, CO
CITY OF A.SPFN
HRE11 PAID CITY Or .pEN
D�''�M REP NO. 4'J c�T PAID
/I�d 8 atL4-1 3 2)-e DItiY REP NO
`E�$
III II'I'I'll'Ifl'�'IIII'I'I'I'I'll STATE DOCUMENTARY FEE
Date: November 28, 2007
SPECIAL WARRANTY DEED $ 54.40
THIS DEED, Made on this day of November 28,2007 , between
OBERMEYER PLACE SALES GROUP,LLC,A COLORADO LIMITED LIABILITY COMPANY AND OBERMEYER PLACE RENTAL
GROUP,LLC,A COLORADO LIMITED LIABILITY COMPANY
of the County of PITKIN and State of COLORADO , Granter(s), and
OBP,LLC,A COLORADO LIMITED LIABILITY COMPANY
whose legal address is : 101 FOUNDERS PLACE SUITE 104 ASPEN CO 81611
of the County of and State of COLORADO of the Grantee(s):
WITNESS, That the Grantor, for and in consideration of the sum of ( $544,000.00 )
***Five Hundred Forty Four Thousand and 00/100*** DOLLARS
the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold and conveyed, and by these
presents does grant, bargain, sell, convey and confirm unto the Grantee(s), their heirs and assigns forever, all the
real property, together with improvements, if any, situate, lying and being in the County of
PITKIN and State of Colorado, described as follows:
CONDOMINIUM UNITS 104 AND 105,CRESCENT BUILDING,OBERMEYER PLACE CONDOMINIUMS,ACCORDING TO THE
CONDOMINIUM MAP OF THE OBERMEYER PLACE CONDOMINIUMS RECORDED JULY 26,20061N PLAT BOOK 80 AT PAGE
57 UNDER RECEPTION NO.526898 AND FIRST SUPPLEMENT RECORDED SEPTEMBER 19,2006 UNDER RECEPTION NO.
528770,AND AS DEFINED AND DESCRIBED IN THE CONDOMINIUM DECLARATION FOR THE OBERMEYER PLACE
CONDOMINIUMS, RECORDED JULY 26,2006 UNDER RECEPTION NO.526895 AND FIRST AMENDMENT RECORDED
SEPTEMBER 19,2006 UNDER RECEPTION NO.528769.
COUNTY OF PITKIN,STATE OF COLORADO.
also known as street number 101 FOUNDERS PLACE,UNITS 104 AND 105,ASPEN,CO 81611
TOGETHER with all and singular and hereditaments and appurtenances 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(s), either in law or equity, of, in and to the above bargained
premises, with the hereditaments and appurtenances;
TO HAVE AND TO HOLD the said premises above bargained and described with appurtenances, unto the Grantee(s),
their heirs, successors and assigns forever. The Grantor, for itself, its successors and assigns, does covenant,
and agree that it shall and will WARRANT AND FOREVER DEFEND the above-bargained premises in the quiet and
peaceable possession of the Grantee(s), their heirs, successors and assigns, against all and every person or persons
claiming the whole or any part thereof, by, through or under the Granter(s).
EXCEPT GENERAL TAXES AND ASSESSHEHTS FOR THE YEAR 2007 AND SUBSEQUENT YXU9, AND EXCEPT THOSE TTENS AS SET PORTH ON EXHIBIT
•B•ATTACHED HERETO
IN WITNESS WHEREOF the Grantor(s) have executed this deed on the date set forth above.
SEE ATTACHED SIGNATURE PAGE
STATE OF COLORADO
County of PITKIN ) Se e llyylfrr�I�� !!
The foregoing instrument was acknowledged before me on t ay of November 28 200
by KLAUS OBERMEYER AS PRESIDENT OF OBERMEYER REDEVELOPMENT COMPANY LORADO CORPORATION,MANAGER OF
OBERMEYER PLACE SALES GROUP LLC A COLO 0 LIMITED LIABILITY CO Y AND KLAUS OBERMEYER AS
MANAGER OF OBERMEYER PLACE HOLDING PANY LLC A COLORADO ITED LIABILITY COMPANY MANAGER OF
My commission expires
WWitness my hand and official seal.
l 1 Notary Public
l
Name and Address of Person Creating Newly Created Legal Description ( 38-35-106.5, C.R.S.)
When Recorded Return to: OBP, LLC, A COLORADO LIMITED LIABILITY COMPANY
Escrow# 0388547 101 FOUNDERS PLACE, SUITE 104 ASPEN, CO 81611
Title# Q388547
Form 432 01/17/03 SPEC.WD.OPEN WARRANTY DEED (Photographic-Open) (4864383)
RECEPTION#: 545808, 01/11/_2008 at 02:52:23 PM, 2 OF 4, ,"a%k
Janice K. Vos Caudill, P. n County, CO
Signature Page Attachment Exhibit
ADDRESS: 101 POUNDERS PLACE, UNITS 104 AND 105, ASPEN, CO 61611
OBERMEYER PLACE SALES GROUP, LLC, A COLORADO LIMITED
LIABILITY COMPANY
By: BERXEYER REDEVELOPMENT COMPANY, A COLORADO
R MANAGER
By:
S GEN EYER, P WENT
OSERMEYER PLACE RENTAL GROUP, LLC, A COLORADO LIMZTED
LIABILITY COMPANY
By:OBE DRS'E'-r14tBBiaAi1' P,QI PANS', LLC, A COLORADO
L Z ED LIABZLZT
By.
Ds osa YER, MANAGE
STATE OF
)ss.
COUNTY OF
The foregoing instrument was acknowledged before me on this day of N.—b—28, 2007 by
aLAUS 08ERMEYER AS PRESIDENT OF 08ERXEYER REDEVELOPMENT COMPANY, A COLORADO CORPORATION, MANAGER OF
OBERMEYER PLACE 9ALE9 GROUP, LLC, A COLORADO LIMITED LIABILITY COMPANY AND KLAUS OBERXEYER AS
MANAGER OP OBEAMEYER PLACE HOLDING COMPANY. LLC, A COLORADO LIMITED LIABILITY COMPANY, MANAGER OF
OBERMEYER PLACE RENTAL GROUP, LLC, A COLORADO LIMITED LIABILITY COMPANY
Witness my hand and seal.'/
My commission expires: 'i a
Nolar is
0186547 018854 f-.? -• - -_
C� v `.JO
Form SELLER.SIG.O Ot/ ,-;:,y,rh15,2008
RECEPTION#: 54580P 01/11/2008 at 02:52:23 PM, 3 OF 4,
Janice K. Vos Cau 1, Pitkin County, CO
EXHIBIT A
RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE
UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED August 29,
1958,IN BOOK 185 AT PAGE 69.
TERMS,CONDITIONS AND PROVISIONS OF ORDINANCE NO. 18(SERIES 2003)
APPROVING FINAL LAND USE APPROVALS AND GRANTING A DEVELOPMENT ORDER
FOR THE OBERMEYER PLACE COWOP PROJECT RECORDED May 14,2003 AT
RECEPTION NO.482691 AND AS AMENDED IN MEMORANDUM RECORDED MARCH 18,
2004 UNDER RECEPTION NO.495612 AND AMENDMENT RECORDED MARCH 12,
2004 UNDER RECEPTION NO.495383.
EASEMENTS,RIGHTS OF WAY AND ALL OTHER MATTERS AS CONTAINED IN THE
PLAT FOR OBERMEYER SUBDIVISION/PLANNED UNIT DEVELOPMENT RECORDED
JUNE 7,2004 IN PLAT BOOK 69 AT PAGE 44 UNDER RECEPTION NO.498396.
TERMS,CONDITIONS AND PROVISIONS OF SUBDIVISION IMPROVEMENTS/PLANNED
UNIT DEVELOPMENT AGREEMENT RECORDED JUNE 7,2004 AT RECEPTION NO.
498397.
TERMS,CONDITIONS AND PROVISIONS OF MEMORANDUM OF MINOR PUD AMENDMENT
RECORDED May 25,2004 AT RECEPTION NO.498034.
TERMS,CONDITIONS AND PROVISIONS OF ORDINANCE 24-2004 GRANTING A
NON-EXCLUSIVE EASEMENT AND RIGHT OF WAY RECORDED June 03,2004 AT
RECEPTION NO.498285 AND RE-RECORDED DECEMBER 16,2004 UNDER
RECEPTION NO.505186.
TERMS,CONDITIONS AND PROVISIONS OF EASEMENT AGREEMENT GRANTED TO THE
BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY RECORDED July 15,2004
AT RECEPTION NO.499687.
CONDOMINIUM DECLARATIONS,WHICH DO NOT CONTAIN A FORFEITURE OR
REVERTER CLAUSE,BUT OMITTING ANY COVENANTS OR RESTRICTIONS,IF ANY,
BASED UPON RACE,COLOR,RELIGION,SEX,SEXUAL ORIENTATION,FAMILIAL
STATUS,MARITAL STATUS,DISABILITY,HANDICAP,NATIONAL ORIGIN,
ANCESTRY,OR SOURCE OF INCOME,AS SET FORTH IN APPLICABLE STATE OR
FEDERAL LAWS,EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION
IS PERMITTED BY APPLICABLE LAW,AS CONTAINED THAT CONDOMINIUM
DECLARATION FOR OBERMEYER PLACE CONDOMINIUMS RECORDED JULY 26,2006,
UNDER RECEPTION NO.526895 AND AMENDMENT RECORDED SEPTEMBER 19,2006
UNDER RECEPTION NO.528769.
EASEMENTS,RIGHTS OF WAY AND ALL OTHER MATTERS AS SHOWN ON THAT
CONDOMINIUM EXEMPTION MAP OF OBERMEYER CONDOMINIUMS RECORDED JULY 26,
RECEPTION#: 545808, 01/112008 at 02:52:23 PM, 4 OF 4, �a
Janice K. Vos Caudill, P .n County, CO
EXHIBIT A (Continued)
2006 IN PLAT BOOK 80 AT PAGE 57 UNDER RECEPTION NO.526898 AND FIRST
SUPPLEMENTAL MAP RECORDED SEPTEMBER 19,2006 UNDER RECEPTION NO.
528770.
TERMS,CONDITIONS AND PROVISIONS OF DEVELOPMENT ORDER RECORDED August
15,2007 AT RECEPTION NO.541030.
RECEPTION#: 595967, 01 '()9/2013 at 01:10:36 PM, 1 OF 7, R $41.00
Janice K. Vos Caudil... Pitkin County, CO
WHEN RECORDED MAIL TO:
Bank of the west
520 Main Ave
Fargo,ND W124
FOR RECORDER'S USE ONLY
DEED OF TRUST
THIS DEED OF TRUST is dated Januar)h; 2013, among OBP, LLC, A COLORADO LIMITED LIABILITY
COMPANY, whose address is 101 FOUNDERS PL #104, ASPEN, CO 81611 ("Grantor'); BANK OF THE
WEST,whose address Is Grand Junction#907, 1211 N.7th St. , Grand Junction, CO 81501 (referred to
below sometimes as "Lender"and sometimes as "Beneficiary"); and the Public Trustee of PITKIN County,
Colorado(referred to below as"Trustee").
CONVEYANCE AND GRANT. For valuable consideration,Grantor hereby Irrevocably grants,transfers and assigns to Trustee for the
beneflt of Lender as Beneficiary all of Grantor's right,Wirt,and Interest In and to the following described real property,together with
alf existing or subsequently erected or affixed buildings, Improvements and fixtures;all easements,rights of way,and appurtenances;
all water, water rights and ditch rights(including stock in utilities with ditch or irrigation rights);and all other rights, royalties and
profits relating to the real property, including without limitation ati minerals, oil, gas, geothermal and similar matters, (the "(teal
Property")located in PITKIN County,State of Colorado:
CONDOMINIUM UNITS 104 AND 105, CRESCENT BUILDING, OBERMEYER PLACE CONDOMINIUMS,
ACCORDING TO THE CONDOMINIUM MAP OF THE OBERMEYER PLACE CONDOMINIUMS RECORDED
JULY 26, 2006 IN PLAT BOOK 80 AT PAGE 57 UNDER RECEPTION NO. 526898 AND FIRST
SUPPLEMENT RECORDED SEPTEMBER 19,2006 UNDER RECEPTION NO. 528770,AND AS DEFINED
AND DESCRIBED IN THE CONDOMINIUM DECLARATION FOR THE OBERMEYER PLACE
CONDOMINIUMS, RECORDED JULY 26, 2006 UNDER RECEPTION NO. 526895 AND FIRST
AMENDMENT RECORDED SEPTEMBER 19, 2006 UNDER RECEPTION NO. 528769.
COUNTY OF PITKIN,STATE OF COLORADO
The Real Property or its address is commonly known as 101 FOUNDERS PL STE 104& 105, ASPEN, CO
81611. The Real Property tax identification number Is R020036&R020037.
Grentor presently assigns to Lender(also known as Beneficiary in this Dead of Trust)all of Grantors right,title,and interest in and to
all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform
Commercial Code security interest in the Personal Property and Rents.
THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL
OBLIGATIONS UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND
ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Grantor shall pay to Lender ali amounts secured
by this Deed of Trust as they become due, and shall strictly and in a timely manner pertorm all of Grantor's obligations under the
Note,this Dead of Trust,and the Relatad Documents-
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be
governed by the following provisions!
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the
Property; (2) use,operate or manage the Property;and (3) collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements,and
maintenance necessary to preserve its value. ,, .
Compliance With Environmental Laws. Grantor represents and warrants to Lender that; (1) During the period of Grantors
ownership of the Property,there has been no use,generation,manufacture,storage,treatment,disposal, release or threatened
release of any Hazardous Substance by any person on,under,about or from the Property; (2) Grantor has no knowledge of,or
reason to believe that there has been,except as previously disclosed to and acknowledged by Lender in writing, (a) any breach
or violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or
threatened release of any Hazardous Substance on,under,about or from the Property by any prior owners or occupants of the
Property,or (c) any actual or threatened litigation or claims of any kind by any person relating to such matters;and (3) Except
s previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant,contractor,agent or other
uthorized user of the Property shall use,generate,manufacture,store,treat,dispose of or release any Hazardous Substance on,
under,about or from the Property,and (b) any such activity shall be conducted In compliance with all appicablo federal,state,
nd local laws,regulations and ordinances,Including without[Imitation all Environmental Laws. Grantor authorizes Lender and Its
gents to enter upon the Property to make such inspections and teats,at Grantor's expense,as Lender may deem appropriate to
determine compliance of the Property with this section of the Deed of Trust. Any Inspections or tests made by Lender shall be
for Lender's purposes only and shall not be construed to create any responsibility or liability on the pan of Lender to Grantor or to
any other person_ The representations and warranties contained herein are based on Grantor's due diligence in Investigating the
Property for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or
contribution in the event Grantor becomes liable for cleanup or other costs under any such laws;and (2) agrees to indemnify,
defend,and hold harmless lender against any and all claims, losses, liabilities,damages,penalties,and expenses which Lender
may directly or indirectly sustain or suffer resulting from a breach of this section of the Dead of Trust or as a consequence of any
use,generation,manufacture, storage,disposal,release or threatened release occurring prior to Grantor's ownership or interest
In the Property,whether or not the same was or should have been known to Grantor. The provisions of this section of the Deed
of Trust,including the obligation to indemnify and defend,shall survive the payment of the Indebtedness and the satisfaction and
reoonveyance of the lien or this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the Property,
whether by foreclosure or otherwise.
RECEPTION#: 595967, 0110912013 at 01:10:36 PM, 2 OF 7,
Janice K. Vos Caudill, & .in County, CO
DEED OF TRUST
Loan No:0000000018 (Continued) Page 2
Nuisance,Waste. Grantor shall not cause,conduct or perk any nuisance nor commit, permit, or suffer any stripping of or
waste on or to the Properly or any portion of the Property. Without limiting the genendity of the foregoing,Grantor will not
remove,or grant to any other party the right to remove,any timber,minerals(including oil and gas),coal,day,scoria,sal,gravel
or rook products without Lender's prior written consent
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's
prior written consent As a condition to the removal of any Improvements,Lender may require Grantor to make arrangements
satisfactory to Lender to replace such Improvements with Improvements of at least equal value.
Lender's Rigid to Enter. Lander and Lander's agents and representatives may enter upon the Real Property at at reasonable
times to attend to tender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and
conditions of this Deed of Trust.
Compliance with Govammerlial Requiroments. Grantor shag promptly comply with all laws,ordinances,and regulations,now or
hereafter In effect,of all governmental authorities applicable to the use or occupancy of the Property,indud'mg without limitation,
the Americans With Dlsabllities Act. Grantor may contest In good faith any such law,ordinance,or regulation and withhold
compliance during any proceeding,including appropriate appeals,so long as Grantor has notified Lender in writing prior to doing
so and so long ae,in Landers sob opinion,Lander's interests in the Property are not jeopardized. Lander may require Grantor to
post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's Interest
Duty to Pmtact Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts,In addition
to those acts set forth above In this section,which from the character and use of the Property are reasonably necessary to
protect and preserve the Property.
DUE ON SALE•CONSENT BY LENDER, Lender may,at Lenders option,declare Immediately due and payable all sums seared by
this Deed of Trust upon the sale or transfer,without Lenders prior written consent,of all or any part of the Real Property,or any
Interest In the Real Property. A"sale or transfer"means the conveyance of Real Property or any right,title or interest in the Real
Property;whether legal, beneficial or equitable;whether voluntary or involuntary;whether by outright sale,deed,Installment sale
contract,land contract,contract for deed,leasehold interest with a term greater than three(3)years,leas"ption contract,or by sale,
assignment,or Transfer of any beneficial Interest in or to any land'tnisl7hoiding title to the Real Property,or by any other method of
conveyance of an Interest In the Real Property. If any Grantor Is a corporation,partnership or limited liability company,transfer also
includes any change in ownership of more than twenty-five percent(25%)of the voting stock,partnership interests or limited liability
company Interests,as the case may be,of such Grantor. However,this option shall not be exercised by Lander if such exercise Is
prohibited by federal law or by Colorado law.
TAXES AND LENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Tnist:
Payment. Grantor shall pay when due(and in all everts prior to delinquency)all taxes,special taxes,assessments,charges
pncluding water and sewer),lines and Impositions levied against or on account of the Property,and shall pay when due all claims
for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Properly free of all
liens having priority over or equal to the Interest of Lander under this Deed of Trust,except for the lien of taxes and assessments
not due and except as otherwise provided in this Deed of Trust
Right to Contest Grantor may withhold payment of any tax,assessment or claim in connection with a good faith dispute over
the obligation to pay,so long as Lenders Interest In the Property Is not jeopardized. If a Ben arises or Is flied as a result of
nonpayment.Grantor shall within fifteen(15)days after the lien arises or,If a lion is filed,within fifteen(15)days after Grantor
has notice of the Hang,secure the discharge of the Ilan,or If requested by Lender,deposit with Larder cash or a sufficient
corporate surety bond or other security satisfactory to Lender M an amount sufficient to discharge the Ran plus any costa and
attorneys'fees,or other charges that could soave as a result of a foreclosure or sale under the Ion. In any contest,Grantor
shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall
name Lender as an additional obdigea under any surety bond fumished In the contest proceedings.
Evidence of Payment Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or
assessments and shall authorize the appropriate governmental official to deliver to lender at any time a written statement of the
taxes and assessments against the Property.
Notice of Construction. Grantor shall notify Lender at least fifteen(15)days before any work is corn menced,any services are
furnished,or any materials are supplied to the Property,if any mechanic's lien,materialmen's lien,or other lien could be asserted
on account of the work, services,or materials. Grantor will upon request of Lender furnish to Lender advance assurances
satisfactory to Lender that Grantor can and will pay the cost of such Improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Deed of Trust.
Maintenance of Insurance. Grantor shall procure and.,Maintain;,pollclea of fire Insurance witty standard extended coverage
endarsoments on a replacement basis for the full Insurable value covering all Improvements on the Real Property in an amourd
sufficient to avoid application of any coinsurance clause,and with a standard mortgagee clause in favor of Lender. Grantor shall
also procure and maintain comprehensive general liability Insurance In such coverage amounts as Lender may request with
Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally,Grantor stall maintain
such other Insurance.induding but not limited to hazard,business interruption,and boiler insurance,as LaMar may reasonably
require. Policies shall be written in for, amounts, coverages and basis reasonably acceptable to Lender and Issued by a
company or companies reasonably acceptable to Lender. Grantor,upon request of Lender,will deliver to lender from time to
tine the policies or certificates of Insurance in form satisfactory to Lender, including stipulations that coverages Will not be
cancelled or diminished without at least thirty(30)days prior written notoe to Lender. Each Insurance policy also shall Include an
endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,omission or default of Grantor
or any other person. Should the Real Property be located in an area designated by the Director of the Federal Emergency
Management Agency as a special flood hazard area,Grantor agrees to obtain and maintain Federal Flood Insurance,if available,
within 45 days after notice is given by Lender that the Property Is located in a special flood hazard area,for the full unpaid
principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set under the
National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the tar of the loan.
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of
lose if Grantor fails to do so within fifteen(15)days of the casualty. Whether or not Lenders security is Impaired,Lander may,
at Lander's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction or the
Indebtedness,payment of any Ilan affecting the Properly,or the restoration and repair of the Property. If Lender elects to apply
the proceeds to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvements In a manner
satisfactory to Lender. Lander shall,upon satisfactory proof of such expendliure,pay or reimburse Grantor from the proceeds for
the reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust Any proceeds which have not
been disbursed within 1 S days after their receipt and which Lander has not committed to the repair or restoration of the
Property shat be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued interest,and the
remainder,if any,shall be applied to this principal balance of the Indebtedness. If Lender holds any proceeds after payment in full
of the Indebtedness,Such proceeds shall be paid to Grantor as Grantor's Interests may appear.
Grantor's Report on Insurance. Upon request of Lender,however not more than once a year,Grantor shall fumish to Lander a
report on each existing policy of Insurance showing: (1) the mites of the insurer, (2) the risks Insured: (3) the amount of the
policy; (4) the properly insured,the then current replacement value of such property,and the manner of determining that value;
and (5) the expiration date of the policy. Grantor shall,upon request of Lender,have an independent appraiser satisfactory to
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DEED OF TRUST
Loan No:0000000018 (Continued) page 3
Lender determine the cash value replacement cost of the Property,
LENDER'S EXPENDITURES. If any action or proceeding Is commenced that would materially affect Lender's Interest In the Properly or
If Grantor fails to comply with any provision of this Deed of Trust or any Related Documents,including but not limited to Grantees
failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related
Documents,Lender on Grantor's behalf may(but shall not be obligated to)take any action that Lender deems appropriate,Including
but not limited to discharging or paying all taxes,Ilene,security Interests,encumbrances and other claims,at any time levied or placed
on the Property and paying all costs for Insuring,maintaining and preserving the Property, AN such expenditures incurred or paid by
Lender for such purposes will then boar interest at the rate charged under the Note from the data incurred or paid by Lender to the
date of repayment by Grantor. All such expenses will become a psnt of the Indebtedness and,at Lender's option,will (A) be payable
th
on demand; (B) be added to e balance of the Note and be apportioned among and be payable with any installment payments to
become due during either (1) the tern of any applicable insurance poky;or (2) the remaining term of the Note;or (C) be treated
as a balloon payment which will bo duo and payable at the Note's maturity. The Deed of Trust also will secure payment of those
amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.
WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a pan of this Deed of That:
Title. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property in fee simple,free and clear of
all hens and encumbrances other than those set forth in the Real Property description or In any title Insurance policy,tale report,
or final title opinion issued In favor of,and accepted by,Lender In connection with this Deed of Trust,and (b)Grantor has the
full right,power,and authority to execute and deliver this Deed of Trust to Lender.
Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the
Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's
title or the interest of Trustee or Lender under this Deed of Truat,Grantor shall defend the action at Grantor's expense. Grantor
may be the nominal party in such proceeding,bid Larder shall be entitled to participate in the proceeding end to be represented in
the proceeding by counsel of Lender's own choice,and Grantor will deliver,or cause to be delivered,to Lender such Instruments
as Lender may request from time to time to pem*such participation.
Compliance With Laws. Grantor warrants that the Property and Grantees use of the Property complies with all existing
applicable laws,ordlnances,and regulations of governmental authorities.
Survival of Representations and Warranties. All representations,warranties,and agreements made by Grantor in this Deed of
Trust shall survive the exacutiet and delivery of this Deed of Trust,shell be continuing in nature,and shall remain in full force and
effect until such time as Grantors Indebtedness shell be paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Dead of Trust
Proceedings. If any proceeding In condemnation Is filed, Grantor shall promptly notify Lender In writing, and Grantor shall
promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in
such proceedirg,but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel
of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be
requested by Lender from time to time to permit such participation.
Application of Not Proceeds, If all or any part of the Properly%S;con0brnnod by eminent domain proceedings or by any proceeding
or purchase in Mau of condemnation,Lender may at Its election,require that all or any portion of the not proceeds of the award be
applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award
after payment of all reasonable costs, expenses, and attorneys'fees incurred by Trustee or Lender In connection with the
condemnation.
IMPOSRiON OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUnfORITIEB, The following provisions relating to
govemmental taxes,fees and charges are a part of tMs Deed of Trust
Current Taxes, Foes and Charges. Upon request by Lender,Grantor shall execute such documents In addition to this Deed of
Trust and take whatever other action Is requested by Lender to perfect and continue Lenders lien on the Real Property. Grantor
shag reimburse Lender for all taxes,as described below,together with all expenses incurred in recording,perfecting or continuing
this Dead of Trust,including without limitation al taxes,fees,documentary stamps,and other charges for recording or registering
this Deed of Trust.
Taxes. The following shall constitute taxes to which this section applies; (1) a specific tax upon We type of Deed of Trust or
upon all or any part of the indebtedness secured by this Deed of Trust: (2) a specific tax on Grantor which Granter Is
authorized or required to deduct from payments on the Indebtedness seared by this type of Deed of Trust; (3) a tax on this
typo of Dead of Trust chargeable against the Lender or the holder of the Note;and (4) a specific tax on all or any portion of the
Indebtedness or on payments of Principal and Interest made by Grantor.
Subsequent Taxes. If any tax to which this section applies Is enacted subsequent to the date of this Deed of Trust,this event
shall have the same effect as an Fvent of Defourt,and Lender may exercise any or all of Its available remedies for an Event of
Default as provided bekm unless Grantor either (1) pays the tax before It becomes delinquent,or (2) contests the tax an
provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other
security satisfactory to Lender.
SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement
are a part of this Deed of Trust
Security Agreement This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures,
and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time-
Security Interest Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfac t and continue
Lender's security Interest in the Rents and Personal Property_ In addition to recording this Dead of Trust In the real property
rucxrds, Lender may, at any time and without further auihQtizatlon from Grantor, file executed counterparts, copies or
reproductions of this Deed of Trust as a financing ststsmenl�-Grantor she$reimburse Lender for all expenses incurred in
perfecting or continuing this security interest Upon default,Grantor shall not remove,sever or detach the Personal Property,
from the Properly. Upon default,Grantor gall assemble any Personal Property not affixed to the Property in a manner and at a
place reasonably convenient to Grantor and Lender and make ft available to Lender within three(3)days after receipt of written
demand from Lender to the extent permitted by applicable law.
Addresses. The malling addresses of Grantor(debtor)and Lender(secured party)from which information concerning the security
Interest granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code)are as stated on the
first page of this Deed of Trust.
FURTHER ASSURANCES;ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part
of this Deed of That:
Further Assurances. At any time,and from time to time,upon request of Lender,Grantor will make,execute and deliver,or will
cause to be made,executed or delivered,to Lender or to Lenders designee,and when requested by Lender,cause to be filed,
recorded, refilled, or rerecorded, as the rase may be, at such times and In such trfticos and places as Lender may deem
appropriate,any and all such mortgages,deeds of tmlat,security deeds,security agreements,financing statements,continuation
statements, Instruments of further assurance, certificates, and other documema as may, in the sole opinion of Lender, be
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DEED OF TRUST
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necessary or desirable In order to effectuate,complete,perfect,continue,or Preserve (1) Grantor's obligations under the Note,
this Deed of Trust,and the Related Documents,and (2) the isms and security interests treated by this Dead of Trust as first
and prior liens on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by law or lender agrees
to the contrary In writing,Grantor shall reimburse Lender for all costs and wq)ensos incurred in connection with the matters
referred to M this paragraph.
Attorneyan-Fact If Grantor fails to do any of the things referred to In the preceding paragraph,Lender may do so for and In the
name of Grsntar and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantees
attorney-In-fact for the purpose of making,executing,delivering,filing,recording,and doing at other things as may be necessary
or desirable,In Lender's sole opinion,to accompish the matters referred to In the preceding paragraph.
FULL PERFORMANCE. Upon the full performance of all the obligations under the Note and this Deed of Trust.Trustee may,upon
production of documents and fees as required under applicable law,release this Deed of Trust,and such release shell constitute a
rek,ase of the lien for all such additional sums and expenditures made pursuant to this teed of Trust. Lender agrees to cooperate
with Grantor in obtaining such release and releasing the other collateral securing the Indebtedness. Any release fees required by law
shall be paid by Grantor,If permitted by applicable law.
EVENTS OF DEFAULT. Each of the following,at Lender's option,shall constitute an Event of Default under this Dead of Trust:
Payment Default Grantor fails to make any payment when due under the Indebtedness_
Other Defaults. Grantor fails to comply with or to perform any other term,obligation,covenant or oonditlon contained in this
Deed of Trust or in arty of the Related Documents or to comply with or to perform arty term,obligation,covenant or condition
contained in any other agreement between Lander and Grantor.
Compliance Default. Failure to comply with any other term,obligation,covenant or condition contained In this Deed of Trust,the
Note or in any of the Related Documents.
Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or
insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien.
Environmental Default, Failure of any party to comply with or perform when due any term,obligation, covenant or condition
contained In any environmental agreement executed In connect!Dnmlth the Property.
Default In Favor of Third Parties. Should Grantor default under any loan,extension of credit security agreement,purchase or
sales agreement,or any otter agreement,In favor of any other creditor or person that may materially affect any of Grantor's
property or Grantees ability to repay the Indebtedness or Grantees ability to perform Grantees obligations under this Deed of
Trust or any of"Related Documents.
False Statements. Any warranty,representation or statement made or fumlehad to Lender by Grantor or on Grantees behalf
under this Deed of Trust or the Related Documents Is false or misleading In any material rasped:,either now or at the time made
or furnished or becomes false or misleading at any time thereafter.
Defective Collateralizatlon. This Dead of Trust or any of the Related Documents ceases to be in full force and effect(Including
failure of arty collateral document to create a valid and perfected security interest or lien)at any time and for any reason.
DeMb or krolveney. The dissolution of Grantees(regardless of whether election to continue is made),any member withdraws
from the limited liability company, or any other termination of Grantors existence as a going business or the death of any
member,the Insolvency of Grantor,the appointment of a receiver for any part of Grantees property,any assignment for the
benefit of creditors,any type of credtor workout,or the commencement of any proceeding Under any bankruptcy or Insolvency
laws by or against Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,
self-help,repossession or any other method, by any creditor of Grantor or by any governmental agency against any property
securing the Indebtedness. This includes a garnishment of any of Grantor's accounts,Including deposit accounts,with Lender.
However,this Event of Default shall not apply If there is a good faith dispute by Grantor as to the validity or reasonableness of
the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or
forfeiture proceeding and depOORs with Lender manias or a surety bond for the creditor or forfeiture proceeding,in an amount
determined by Lander,in its solo discretion,as being an adequalo reserve or bond for the dispute.
Breach of Other Agreement. Any breach by Grantor under the farms of any other agreement between Grantor and Lender that is
not remedied within any grace period provided thereih,Including without limitation any agreement conceming any Indebtedness or
other obllgation of Grantor to Lander,whether existing now or later.
Events Afbeting Guararor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
Guarantor dies or becomes Incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
Indebtedness.
Adverse Change. A material advarso change occurs In Grantoxes,finaneial condition,or Lender believes the prospect of payment
or performance of the Indebtedness Is impaired.
Insecurity, Lender In good faith believes itself insecure.
RIGHTS AND REMEDIES ON DEFAULT. if an Event of Default occurs under this Deed of Trust,at any time thereafter,Trustee or
Lender may exercise any one or more of the following rights and remedies:
Election of Remedies. Election by Lender to pursue any remedy shall not exdu de pursuit of any other remedy,and an election to
make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantees failure to
perform,shall not affect Landers right to declare a default and exercise its remedies.
Accelerate Indebtedness. Lender shall have the right at Its option without notice to Grantor to declare the entire Indebtedness
immedately due and payable,Including any prepayment penalty which Grantor would be required to pay.
Foreclosure. Lender shall have the right to cause all or any part of the Real Property,and Personal Property,If Lender decides to
proceed against It as If It were real property,to be sold by the Trustee according to the laws of the State of Colorado as respects
foreclosures against real property. The Trustee shall give notice In accordance with the laws of Colorado. The Trustee shall
apply the proceeds of the sale In the following order: (a)to all costs and expenses of the sale, including but not limited to
Trustee's fees,attorneys'fees,ON the cost of title evidence; (b)to all sums secured by this Deed of Trout;and (c)the excess,
If any,to the person or persons legally entitled to the excess.
UCC Remedies. With rasped to all or any part of the Personal Property,Lender shall have all the rights and remedies of a
secured party under the Uniromn Commercial Code.
Coiled Rents. Lender shall have the right,without notice to Grantor to take possession of and manage the Property and collet
the Rents, Inducing amounts past due and unpaid, and apply the net proceeds, over and above Lenders costs, against the
Indebtedness. In furtherance of this right,Lender may require any tenant or other user of the Property to make payments of rent
or use fees directly to Lander. If the Rents are cd$ected by Lender,then Grantor irrevocably designates Lender as Grantors
attornoy4n-fad to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and tolled
the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for
which the payments are made,whether or not any proper grounds for the demand existed. Lender may exercise its rights under
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DEED OF TRUST
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this subparagraph either In person,by agent,or through a receiver.
Appoint Receiver. Lander shall have the right to have a receiver appointed to take possession of all or any part of the Properly,
with the power to protect and preserve the Property,to operate the Property preceding foreclosure or sale,and to collect the
Rents from the Property and apply the proceeds,over and above the cost of the receivership,against the Indebtedness. The
receiver may serve without bond if permitted by law. Lender's right to tine appointment of a receiver shall exist whether or not
the apparent value of the Property exceeds the indebtedness by a substantial amount Employment by Lender shall not disqualify,
a pin from serving as a receiver, Receiver may be appointed by a court of competent jurisdiction upon ex parts application
and without notice,notice being expressly waived_
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is add as provided above or Lender
otherwise becomes entitled to possession of the Property upon default of Grantor,Grantor shall become a tenant at sufferance of
Lender or the purchaser of the Property and shall, at Lender`s option,either (1) pay a reasonable rental for the use of the
Property,or (2) vacate the Property immediately upon the demand of Lender.
Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or available at
law or in equity.
Sale of the Property. In exercising its rights and remedies,Lender shall be free to designate on or before It files a notice of
election and demand with the Trustee,that the Trustee sell all or any pert of the Property together or separately,In one sale or by
separate sales. Lender shall be entitled to bid at any public ado on all or any portion of the Property. Upon any sale of the
Property,whether made under a power of sale granted in this Deed of Trust or pursuant to judicial proceedings,if the holder of
the Note is a purchaser at such sale, it shall be entitled to use and apply all, or any portion of,the Indebtedness for or in
settlement or payment of all,or any portion of,the purchase price of the Property purchased,and,in such case,this Deed of
Trust,the Note,crud any documents evidencing expenditures secured by this Deed of Trust shall be presented to the person
conducting the sale In order that the amount of Indebtedness so used cr applied may be credited thereon as having been paid.
Attorneys'Fees:Expenses. If Lender forecloses or Institutes any suit or action to enforce any of the tames of this Deed of Trust.
Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal.
Whether or not any court action is involved,and to the extent not prohibited by law,all reasonable expenses Lender incurs that in
Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall became a part of
the Indebtedness payable on demand and shall bear Interest at the Note rate from the date of the expenditure until repaid.
Expenses covered by this paragraph Include, without limitation,however subject to any limits under applicable law. Lender's
attorneys'fees whether or not there Is a lawsuit,including attorneys'fees and expenses for bankruptcy proceedings(including
efforts to modify or vacate any automatic stay or Injunction),appeals,and any anticipated post judgment collection services,the
cost of averehing records. obtaining title reports oncluding foreclosure reports), surveyors'reports, and appraisal face, title
insurance,and fees for the Trustee,to the extent permitted by applicable law. Grantor also will pay any court costs,In addition
to eN other sums Provided by law.
Rights of Trustee. To the extent permitted by applicable law,Trustee shall have of of the rights and duties of Lender as set forth
In this section.
NOTICES. Arry notice required to be given under this Dead of Trust,including without limitation any notice of default and any notice
of sale shall W given in writing, and shall be effective when actually delivered, when actually received by telefecsimile(unless
otherwise required by law),when deposited with a nationally recognized overnight courier,or,if mailed,when deposited in the United
States mail,as first class, certified or rogisterod mat postagu prepuld,directud to the addrosses shown near the beginning of this
Deed of Trust All copies of notices of foreclosure from the holler of any lien which has priority over this Dead of Trust shall be sent
to Lenders address,as shown near the beginning of this Deed of Trust Any party may change its address for notices under this
Deed of Trust by giving formal written notice to the other parties,specifying that the purpose of the notice is to change the party's
address. For notice purposes,Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
provided or required by law,if there is more than one Grantor,any notice given by Lender to any Grantor is deemed to be notice given
to all Grantors. .
ASSOCIATION OF UNIT OWNERS. The following provisions'appfy'�If tfu3 Real Property has been submitted to unit ownershiP few or
similar law for the establishment of condominiums or cooperative ownership of the Real Property:
Porter of Attorney. Grantor grants an irrevocable power of attorney to Lender to,vote In Lender's discretion on any matter Chet
may come before the association of unit owners. Lender shall have the right to exercise this power of attorney only after
Grantor's default;however,Lender may decline to exercise this power as Lefler sees fit.
Insurance. The Insurance as required above may be carried by the association of unit owners on Grantor's behalf, and the
proceeds of such insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the
Property. If not so used by the association,such proceeds shall be paid to Lender.
Default. Grantors failure to perform any of the obligations imposed on Grantor by the declaration submitting the Real Property to
unit ownerethip,by the bylaws of the association of unit owners,or by any rules or requisitions thereunder,shall be an event of
default under this Deed of Trust If Grantors Interest in the Real Property is a leasehold interest and such property has been
submitted to unit ownership,any failure by Grantor to perform any of the obligations Imposed oh Grantor by the lease of the Real
Property from its owner,any default under such lease which might result In termination of the lease as It pertains to the Real
Property,or any failure of Grantor as a member of an association of unit owners to take any reasonable action within Grantors
power to prevent a default under such lease by the association of unit owners or by any member of the association shall be an
Event of Default under this Deed of Trust.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust;
Amendments. This Deed of Trust,together with any Related Documents,constitutes the entire understanding and agreement of
the parties as to the matters set forth In this Dead of Trust No alteration of or amendment to this Deed of Trust shall be
effective unless given In writing and signed by the party or parties sought to be changed or txxnd by the alteration or
amendment.
Annual Reports. If the Property is used for purposes other than Grantors residence, Grantor shall furnish to Lender, upon
request,a certified statement of net operating income received from the Property during Grantors previous fiscal year in such
form and detail as Lender shall require. `Net operating Income'shall mean all cash receipts from the Property less all cash
expenditures made In connection with the operation of the Property.
Caption Headings. Caption headings In this Deed of Trust are for convenience purposes only and are not to be used to Interpret
or define the provisions of this Deed of Trust.
Merger. There shad be no merger of the interest or estate crarite.0 by this Deed of Trust with any other interest or estate in the
Property at any time held by or for the benefit of lender in any'cspAbity,without the written consent of Lender.
Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and,to the extent not preempted by
federal law,the laws of the State of Colorado without regard to its conflicts of law previsions. This Deed of Trust has been
accepted by Lender In the State of Colorado.
Choke of Venue. If there is a lawsuit,Grantor agrees upon Landers request to submit to the jurisdiction of the courts of Mesa
County,State of Colorado_
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Janice K. Vos Caudill, liss"'cin County, CO
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No Waiver by Lender. Lender shall not be deemed to have waNed^eny Fights under this Deed of Trust unless such waiver Is
given in writing and signed by Lender. No delay or omission on the part of Lender In exercising any right shag operate as a
waiver of such right or any other right. A waterer by Lender of a provision of this Deed of Trust shall not prejudice or constitute a
waiver of Lenders right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust.
No prior waiver by Lender,nor any course of dealing between Lander and Grantor,shall constitute a waiver of any of Landers
rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender Is required under this
Dead d Trust,the granting of such consent by Lender In any thstance shall not constitute continuing consent to subsequent
Instances where such consent is required and In all cases such consent may be granted or withhold In the sole discretion of
Lender.
Severablllty. If a court of competent jurisdiction finds any provision of this Deed of Trust to be Illegal,Invalid,or unenforceable as
to any circumstance, that finding shag not make the offending provision illegal, invalid, or unenforceable as to any other
circumstance. If feasible,the offending provision shall be oonsidered modified so that it becomes legal,valid and enforceable. If
the offending provision cannot be so modified,it shat be considered deleted from this Deed of Trust. Unless otherwise required
by hew,the illegality,invalidity,or unenforceability of any provision of this Deed of Trust shall not affect the legality,validity or
enforceability of any other provisos of this Deed of Trust.
Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantors interest,this Deed of
Trust shall be binding upon and Inure to the benefit of the parties,their successors and assigns. If ownership of the Property
becomes vested In a person ether than Grantor,Lender,without notice to Grantor,may deal with Grantors successors with
reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the
obligations of this Deed of Trust or liability under the Indebtedness.
Tens is of the Fasence. Time is of the essence in the performance of this Deed of Trust.
Waive Jury. All parties to this Deed of Trust hereby waive the right to arty jury trial in any action,proceeding,or counterclaim
brought by any party against any otrr party.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of
the State of Colorado is to all Indebtedness secured by this Deed of Trust
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of
America. Words and terms used In the singular shag include the plural,and the phial shag include the singular,as the context may
require. Words and tsmhs not otherwise defined in this Dead of Trust shall have the meanings attributed to such terms in the Uniform
Commercial Code:
Beneficiary. The word"Beneficiary"means BANK OF THE WEST,and its successors and assigns.
Borrower. The word 'Borrower'means DBP, LLC and Includes all co-signers and co-makers signing the Note and all their
successors and assigns.
Deed of Trust The words"Dead of Trust"mean this Deed 0f Trust among Grantor.Lender,and Trustee,and Includes without
Imitation all assignment and security Interest provisions ralatnd to the Personal Property and Rents.
Default. The word"Default"means the Default set forth In this Deed of Trust In the section titled"Default'.
Environmental Laws. The words'T=Wronmental Laws"mean any and all state, federal and local statutes, regulations and
ordinances relating to the protection of human health or the environment, including without Imitation the Comprehensive
Environmental Response,Compensation,and Liability Act of 1980,as amended,42 U.S.C.Section 9601.et seq.('CERCLA'),
the Superfund Amendments and Reauthor"lloh Act of 1986, Pub. L. No. 99-499 ("SARA' the Hazardous Materials
Transportation Act,49 U.S.C.Section 1801,at a".,the Resource Conservation and Recovery AA,42 U.S.C.Section 6901,at
seq.,or other applicable state or federal Iowa,rules,or regulations adopted pursuant thereto.
Event of Dersult The words"Event of Default"mean any of the events of default set forth in this Deed of Trust In the events of
default section of this Deed of Trust.
Grantor. The word"Grantor moans OBP,LLC.
Guarantor. The word"Guarantor"means any guarantor,surety,or accommodation party of any or all of the Indebtedness.
Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,Including without limitation a guarenty of all or
part of the Note.
Hazardous Substances. The words"Hazardous Substances'mean matedals that because of their quantity,concentration or
physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the
environment when Improperly used,treated,stored, disposed of, generated, manufactured,transported or otherwise handled.
The words'Hazardous Substances'are used In their very broadest sense and Include without limitation any and all hazardous or
toxic substances,materials or waste as defined by or listed under the Environmental Laws. The tern"Hazardous Substances"
also includes,without limitation,petroleum and petroleum by-products or any fraction thereof and asbestos.
Improvements. The word "Improvements" means all existing and future improvements,buldings, structures, mobile homes
affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property.
Indebtedness. The word'Indebtedness"means all principal,interest,and other amounts,costs and expenses payable under the
Note or Related Documents,together with all renewals of,extensions of,modifications of,consolidations of and substitutions for
Via Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses
Incurred by Trustee or Lender to enforce Grantor's obligations.under this Dead of Trust,together with Interest on such amounts
as provided In this Deed of Trust.
Lender. The word'Lender'means BANK OF THE WEST,Its'successors and assigns.
Note. The word 'Note" means the promissory note dated January 2, z013, In the original principal amount of
$545,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
consolidations of,and substitutions for the promissory note or agreement
Personal property. The words"Personal Property"mean all equipment,fixtures,and other articles of personal property now or
hereafter owned by Grantor,and now or hereafter attached or affixed to the Real Property;together with all accessions,parts,
and additions to,all replacements of,and all substitutions for,any of such property;and together with all proceeds(including
without limitation all Insurance proceeds and mitunds of prerrdums)from any sale or other disposition of the Property.
Property. The ward'Property means collectively the Real Property and the Personal Property.
Real Property. The words"Real Property'mean the real property,Interests and rights,as further described In this Deed of Trust.
Related Documents. The words 'Related Documents" mean all promissory notes, credit agreements, loan agreements,
onvironmental agreements,guaranties,security agreements,mortgages,deeds of trust,security deeds,collateral mortgages,and
all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the
Indebtedness.
Rents. The word"Rants"moans all present and future rents, revenues,Income, Issues,royalties. profits,and other benefits
RECEPTION#: 595967, 01 /09/2013 at 01:10:36 PM, 7 OF 7,
Janice K. Vos Caudill 'itkin County, CO
DEED OF TRUST
Loan No: 0000000018 (Continued) Page 7
derived from the Property.
Trustee. The word"Trustee"means the Public Truatee of PITKIN County,Colorado,
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR AGREES TO ITS
TERMS.
GRANTOR: (y
r !#
OBP,LLC
By:
MICHAEt SAILR,Manager of OBP, LC
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF �0 r kP C=
COUNTY OF JT%� it►t. 'Sg
r+' J amw tom+
0n this day of .20 13 before me, the undersigned Notary Public,
personally ap eared MICHAEL SAILOR, Manager of OBP, LC,and known to me to be a member or designated agent of the limited
liability company that executed the Deed of Trust and ac nowledged the Deed of Trust to be the free and voluntary act and deed of
the limited liability company,by authority of statute.Its articles of organization or its operating agreement,for the uses and purposes
therein mentioned, and on oath stated that he or she is authorized to execute this Deed of Trust and in fact executed the Deed of
Trust on shalf of the limited liability company.
By //�� Residing at 1
Notary Pubic in and for the State of 0-01 a.! AQ My commisslon expires
LASER PRO Lending, er_ 2.2.0.003 Copr. Harland Financial Solutions, Inc- 1997. 2013. All Rights Reserved. - CO
RkCFI1LPLZ01.FC TR-108891 PR-132
TAMMY J.SOMMERFELD
NOTARY PUBLIC
STATE OF COLORADO
NOTAW ID 20104012476
My tolTlrfgsaion gW�Apfti 12,2014
r*
Land Title Guarantee Company
CUSTOMER DISTRIBUTION
Land Title
GUARANTEE COMPANY
W ITTGC.COM
Date: 01-09-2013 Our Order Number: QTF62004938-2
Property Address:
101 FOUNDERS PL# 105 & 104 ASPEN, CO 81611
Ifyou have any inquiries or require further assistance,please contact one of the numbers below:
For Closing Assistance: For Title Assistance:
Leslie Boyer Aspen Title"QT"Unit
533 E HOPKINS#102 Kurt Beereboom
ASPEN,CO 81611 533 E HOPKINS#102
Phone:970-925-1678 ASPEN,CO 81611
Fax: 800-318-8202 Phone:970-925-1678
EMail: lboyer @ltgc.com Fax: 970-925-6243
EMail: kbeereboom @ltgc.com
BANK OF THE WEST BANK OF THE WEST
520 MAIN AVE 520 MAIN AVE
FARGO,ND 58124 FARGO,ND 58124
Attn: JANA MCSHURLEY Attn: CONNIE SCHENDEL
Phone: 701-271-6427 Phone: 701-429-2544
Fax: 877-620-6063 Fax: 402-918-8898
Copies: 1 Copies: 1
EMail:jana.mcshurley @bankofthewest.com EMail:connie.schendel @bankofthewest.com
Linked Commitment Delivery Linked Commitment Delivery
01.03.13
Land Title Guarantee Company
Date: 01-09-2013
Land Tale Our Order Number: QTF62004938-2
GUARANTEE COMPANY
WW—LT GC.COM
Property Address:
101 FOUNDERS PL# 105 & 104 ASPEN, CO 81611
Owner:
OBP, LLC, A COLORADO LIMITED LIABILITY COMPANY
Wire Information:
Bank:ALPINE BANK
600 E HOPKINS
ASPEN, CO 81611
Phone:
Credit.
ABA No.: 102103407
Account:2020010529
Attention:Leslie Boyer
Note: Once an original commitment has been issued, any subsequent
modifications will be emphasized by underlining.
Need a map or directions for your upcoming closing?Check out Land Title's web site at www.ltgc.com
for directions to any of our 54 office locations.
ESTIMATE OF TITLE FEES
ALTA Loan Policy 06-17-06 (Reissue Rate) $830.00
Deletion of Standard Exception(s) (Lender) $100.00
Endorsement Alta 8.1 (Lender) $100.00
Endorsement 100 (Lender) $138.00
Endorsement ALTA 22 (Lender) $50.0 0
Tax Report $50.00
TOTAL $1,268.00
Form CONTACT.L (8/2003) THANK YOU FOR YOUR ORDER!
OFFICE OF THE SECRETARY OF STATE
OF THE STATE OF COLORADO
CERTIFICATE
I, Scott Gessler,as the Secretary of State of the State of Colorado,hereby certify that, according to the
records of this office,
OBP, LLC
is a Limited Liability Company formed or registered on 03/20/2006 under the law of Colorado, has
complied with all applicable requirements of this office, and is in good standing with this office. This
entity has been assigned entity identification number 20061091584.
This certificate reflects facts established or disclosed by documents delivered to this office on paper
through 07/28/2014 that have been posted, and by documents delivered to this office electronically
through 07/29/2014 @ 13:35:52.
1 have affixed hereto the Great Seal of the State of Colorado and duly generated, executed, authenticated,
issued, delivered and communicated this official certificate at Denver,Colorado on 07/29/2014 @
13:35:52 pursuant to and in accordance with applicable law. This certificate is assigned Confirmation
Number 8914039.
Y
l
r
Secretary of State of the State of Colorado
of
Notice:A certificate issued electronically from the Colorado Secretary of State's Web site is,fully and immediately valid and effective. However,
as an option,the issuance and validity of a certificate obtained electronically may be established by visiting the Certificate Confirmation Page of
the Secretary of State's Web site, http://wwipsos-state.co.uslbizICei-tificateSearchCiitelia.do entering the certificate's confirmation number
displayed on the certificate, and following the instructions displayed Confirming the issuance of a certificate is merely optional and is not
necessary to the valid and eff ective issuance of certificate. For more information,visit our Web site, http:11www.sosstate.co.us/click Business
Center and select"Frequently Asked Questions"
CERT GS D Revised 0&2[3%2008 -
Colorado Secretary of State
Date and Time: 03/02/2006 05:51 PM
Document processing fee Entity Id: 20061091584
If document is filed on paper $125.00
If document is filed electronically S 25.00 Document number: 20061091584
Fees&forms/cover sheets
are subject to change.
To file electronically,access instructions
for this form/cover sheet and other
information or print copies of filed
documents,visit www.sos.state.co.us
and select Business Center.
Paper documents must be typewritten or machine printed. ABOVE SPACE FOR OFFICE USE ONLY
Articles of Organization
filed pursuant to §7-90-301, et seq. and§7-80-204 of the Colorado Revised Statutes(C.R.S)
1. Entity name: OBP, LLC
(The name of a limited liability company must contain the term or abbreviation"limited
liability company" "ltd.liability company» "limited liability co.", "ltd.liability co.';
"limited", "11c", "I.I.c.",or"ltd"§7-90-601,CAS)
2. Use of Restricted Words(ifany ofthese
terms are contained in an entity name,true ❑ "bank"or"trust"or any derivative thereof
name ofan entity, trade name or trademark ❑ "credit union" ❑ "savings and loan"
stated in this document,mark the applicable ❑ "insurance","casualty", "mutual", or"surety"
box):
3.Principal office street address: 600 E. Hopkins Ave.
Suite 303 (Street name and number)
Aspen CO 81611
(City) (State) (Postal/Zip Code)
United States
(Province-if applicable) (Country-if not US)
4. Principal office mailing address
(if different from above): (Street name and number or Post Office Box information)
(City) ( tale (Postal/Zip Code)
United States
(Province-if applicable) (Country-if not US)
5. Registered agent name (if an individual): Sailor Michael C.
(Last) (First) (Middle) (suffix)
OR(if a business organization):
6. The person identified above as registered agent has consented to being so appointed.
7.Registered agent street address: 600 E. Hopkins Ave.
Suite 303 (Street name and number)
Aspen Co 81611
(City) (State) (Postal/ZipCode)
ARTORG-LLC Page 1 of 3 Rev.11/16,2005
8. Registered agent mailing address
(if different from above): (Street name and number or Post Office Box information)
(City) Un(INd States (Post"'"Code)
(Province-if applicable) (Country—if not US)
9.Name(s)and mailing address(es)
of person(s)forming the limited
liability company:
(ifanindividual) Sailor Michael C.
(Last) (First) (Middle) (suffix)
OR(if a business organization) _
600 E. Hopkins Ave.
Suite 303(Street name and number or Post Office Box information)
Aspen CO 81611
(City) Uni s eadStates (PoslaU P'de)
(Province—if applicable) (Country—if not US)
(if an individual)
(Last) (First) (Middle) (suffix)
OR(if a business organization)
(Street name and number or Post Office Box information)
(City) tote stal/Zip Code)
Uni( e t States (Po
(Province—if applicable) (Country—if not US)
(if an individual)
(Last) (First) (Middle) (suffix)
OR(if a business organization)
(Street name and number or Post Office Box information)
(City) United States (Postal"ip Code)
(Province—if applicable) (Country—if not US)
(If more than three persons are forming the limited liability company,mark this box ❑and include an attachment stating the true
names mid mailing addresses of all additional persons forming the limited liability company)
10. The management of the limited liability company is vested in managers ✓0
OR is vested in the members ❑
11. There is at least one member of the limited liability company.
ARTORG LLC Page 2 of 3 Rev.11/16/2005
4
12. (Optional) Delayed effective date: 03/20/2006 07:51 AM
(mm/dd/yyyy)
13.Additional information may be included pursuant to other organic statutes such as title 12, C.R.S. If
applicable,mark this box ❑ and include an attachment stating the additional information.
Notice:
Causing this document to be delivered to the secretary of state for filing shall constitute the affirmation or
acknowledgment of each individual causing such delivery,under penalties of perjury,that the document is the
individual's act and deed, or that the individual in good faith believes the document is the act and deed of the
person on whose behalf the individual is causing the document to be delivered for filing,taken in conformity
with the requirements of part 3 of article 90 of title 7,C.R.S., the constituent documents, and the organic
statutes,and that the individual in good faith believes the facts stated in the document are true and the
document complies with the requirements of that Part,the constituent documents, and the organic statutes.
This perjury notice applies to each individual who causes this document to be delivered to the secretary of
state,whether or not such individual is named in the document as one who has caused it to be delivered.
14.Name(s)and address(es)of the
individual(s)causing the document Sailor Michael C.
to be delivered for filing:
(Last) (First) (Middle) (Sufx)
600 E. Hopkins Ave.
Suite 303(Street name and number or Post office Box information)
Aspen CO 81611
(city) Ur>d States (Postal/ P'de)
(Province—if applicable) (Country—ifnot US)
(The document need not state the true name and address of more than one individual. However,ifyou wish to state the name and address
of any additional individuals causing the document to be delivered for filing,mark this box ❑ and include an attachment stating the
name and address of such individuals)
Disclaimer:
This form, and any related instructions,are not intended to provide legal,business or tax advice,and are
offered as a public service without representation or warranty. While this form is believed to satisfy minimum
legal requirements as of its revision date, compliance with applicable law, as the same may be amended from
time to time,remains the responsibility of the user of this form. Questions should be addressed to the user's
attorney.
ARTORG_LLC Page 3 of 3 Rev.1 1/16/2005