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HomeMy WebLinkAboutcoa.lu.tu.315 E Dean St 0015.2011.ASLU look] THE CITY CAF ASPEN City of Aspen Community Development Department CASE NUMBER 0015.2011.ASLU PARCEL ID NUMBERS 2737 18 2 85 001 &2 PROJECTS ADDRESS 315 DEAN ST PLANNER JENNIFER PHELAN CASE DESCRIPTION TEMP USE REPRESENTATIVE SARA BROUGHTON DATE OF FINAL ACTION 3.11.12 DATE OF FINAL REFUND/ CASE ABANDONED PAYMENT CLOSED BY ANGELA SCOREY ON: 10.15.14 2737 27 ? (3 2gs- 0 3 2 po c 5S- w L -AeL-.� File Edit Record Navigate Form Reports Format Tab Help ►?� ► ►� �; i � .t A- - � Il"v jump - 33 C,,ll� LL�� i � Rotting Status Fees Fee Summary I f I Actmns �Attarfu ff6 jRouting d0ory Valuation lArdit lCustomFielcls Sub Permits Parcels rrAddress aslu Aspen Land Use 015.2011.ASLU 315 E LEAN ST Aptly ASPEN State CO z'p 61611 x Permit Information Master permit Routing queue aslu0l Apps 3117311 0 Project Status pending Approve Description TEMPORARY USE PERMIT•OPEN COURTYARD ALONG MILL ST AT ST REGIS ASPEN Issued RESORT Anal I Submitted SARAH BROUGHTON 544 9006 Cbdc Running pays a Ezpres 3M 1 f2012 Submitted via Owner — -- Last name IT DEAN ASSOCIATES,INC Fk#trm OPT ASIA CAPITAL.LTD 315 EAST DEAN ST Phone (662)654 2929 ASPEN CO 81611 Address Applicant Owner is applicant? 0 Conhactoi is applicani? Last name ROXAND I BROUGHTON First name SARAH PO BOX 552 ASPEN CO 61612 Phone (970)319.0111 Cust#25149 Address Lender Last name Fir " st name Phone ( ) Address N�1 f DO*the peW lerder's adbess AsperiI(server) angelas 0 &a-) SLC� THE CITY OF ASPEN Land Use Application Determination of Completeness Date: March 22, 2011 Dear City of Aspen Land Use Review Applicant, We have received your land use application and reviewed it for completeness. The case number and name assigned to this property is 0015.2011.ASLU—315 E. Dean Street. �Your Land Use Application is incomplete: We found that the application needs additional items to be submitted for it to be deemed complete and for us to begin reviewing it. We need the following additional submission contents for you application: 1) Please provide some visuals for the canopy such as material, height, design in addition to the proposed location. 2) Responses to the Temporary Use review criteria(section 26.450.030). Please submit the aforementioned missing submission items so that we may begin reviewing your application. No review hearings will be scheduled until all of the submission contents listed above have been submitted and are to the satisfaction of the City of Aspen Planner reviewing the land use application. ❑ Your Land Use Application is complete: If there are not missing items listed above, then your application has been deemed complete to begin the land use review process. Other submission items may be requested throughout the review process as deemed necessary by the Community Development Department. Please contact me at 429-2759 if you have any questions. V Th4ak You, ennifer Phka6 Deputy Director City of Aspen, Community Development Department For Office Use Only: Qualifying Applications: Mineral Rights Notice Required SPA PUD COWOP Yes No ><- Subdivision(creating more than 1 additional lot) GMQS Allotments Residential Affordable Housing Yes NoX- Commercial E.P.F. RECEIVE' "­` 17 201' TY OF; A,S P E N CITY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMEN,imI, '14161 IDEVI ONAF Agreement for Payment of City of Aspen Development Application Fees CITY OF ASPEN(hereinafter CITY)and St cS fiAs`( D64AS A45m4 .TES 16A CA OlPt to(-VITAL (,,). L-TD, (hereinafter APPLICANT)AGREE AS FOLLOWS: 1. APPLICANT has submitted to CITY an ap lication for °C�MPd� 2K kAS io►2.Mrf (hereinafter,THE PROJECT). 2. APPLICANT understands and agrees that the City of Aspen has an adopted fee structure for Land Use applications and the payment of all processing fees is a condition precedent to a determination of application completeness. 3. APPLICANT and CITY agree that because of the size, nature or scope of the proposed project,it is not possible at this time to ascertain the full extent of the costs involved in processing the application. APPLICANT and CITY further agree that it is in the interest of the parties that APPLICANT make payment of an initial deposit and to thereafter permit additional costs to be billed to APPLICANT on a monthly basis. APPLICANT agrees additional costs may accrue following their hearings and/or approvals. APPLICANT agrees he will be benefited by retaining greater cash liquidity and will make additional payments upon notification by the CITY when they are necessary as costs are incurred. CITY agrees it will be benefited through the greater certainty of recovering its full costs to process APPLICANT'S application. 4. CITY and APPLICANT further agree that it is impracticable for CITY staff to complete processing or present sufficient information to the Historic Preservation Commission, Planning and Zoning Commission and/or City Council to enable the Historic Preservation Commission, Planning and Zoning Commission and/or City Council to make legally required findings for project consideration, unless current billings are paid in full prior to decision. 5. Therefore, APPLICANT agrees that in consideration of the CITY's waiver of its right to collect full fees prior to a detennination of application completeness, APPLICANT shall pay an initial deposit in the amount of$H-7-0 which is for-. C90 hours of Community Development staff time, and if actual recorded costs exceed the initial deposit, APPLICANT shall pay additional monthly billings to CITY to reimburse the CITY for the processing of the application mentioned above,including post approval review at a rate of$245.00 per planner hour over the initial deposit. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension of processing,and in no case will building permits be issued until all costs associated with case processing have been paid. CITY OF ASPEN APPLICANT By: By.Dr:,Ljog .&J u, 1.'ZwaL-raNv 4-13"H7oiD Chris Bendon / Community Development Director Date: I �r- Billing Address and Telephone Number: t 13, S. MoAlAl to S?• 410,rAz ( '61(Q11 111.0. T44 - 1100(0 ATTACHMENT 2-LAND USE APPLICATION PROJECT: Name: S-T, teems Asec-N Location: IIS C-A$,-t r�*Apq ST., I (Indicate street address, of&block number, legal description where appropriate) Parcel ID#(REQUIRED) APPLICANT: Name: 31 P45-T DC-Ai3 4uvctA-[L%`tm, 6/0 ofl,45ik W1-► 4- (,o. 1--To. Address: Au,S6,wys A- 0U, -rewo—t-, 10 T" /Z wt ew-635 4z'0 19maOK-t i u no,-THAL4#1 Phone#: w'.z. 65-Li •'e' c1 Ca'a. lot) REPRESENTATIVE: Name: L44414 �Kd&m4wroj. 41A Zvt�4-F&,qWvA, &�if i-rk vnw te-i At b 4v-6 9 u Q_4 iju 144 Address: 113 5,P4 oijA-V_rH Phone#: all* s4t-f - 9,00(c TYPE OF APPLICATION: (please check all that apply): F-I GMQS Exemption ❑ Conceptual PUD Temporary Use ❑ GMQS Allotment ❑ Final PUD(&PUD Amendment) ❑ Text/Map Amendment ❑ Special Review ❑ Subdivision F-1 Conceptual SPA ❑ ESA—8040 Greenline, Stream ❑ Subdivision Exemption(includes ❑ Final SPA(& SPA Margin, Hallam Lake Bluff, condorinniumization) Amendment) Mountain View Plane F-1 Commercial Design Review ❑ Lot Split ❑ Small Lodge Conversion/ Expansion F-1 Residential Design Variance ❑ Lot Line Adjustment F-1 Other: ❑ Conditional Use EXISTING CONDITIONS: (description of existing buildings,uses,previous approvals, etc.) 41t4 -1 -T. � -Au ke—so rr 2A)(4 d1L.1, 11 4 S L4iS IiP PROPOSAL: (description of proposed buildings, uses,modifications,etc.) LcxX ItQU(4 '146, (Amt-1101CD I DO D4YS oi<r &E 111F. A40. "Tk!j V0 Have you attached the following? FEES DUE: S JXPI—f-0 Pre-Application Conference Summary Attachment#1, Signed Fee Agreement Q Response to Attachment#3,Dimensional Requirements Form Response to Attachment#4, Submittal Requirements-Including Written Responses to Review Standards 'P3-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. ATTACHMENT 3 `f DIMENSIONAL REQUIREMENTS FORM t� Project: Applicant: Location: 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): 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: Variations requested: � C.7 � W J V owland+ rou hton g a _ ° architecture and urban design o� � � w LETTER :7 68� 22 February 2011 O , o �7, D Chris Bendon Community Development Director City Hall o 130 S. Galena Street Aspen, CO 81611 �W V a0 O O W � PROJECT. St. Regis Aspen Resort o PERMIT.- Not yet submitted a`° o SUBJECT. Temporary Use Application CC: Dave Winkler, JN&A (Project Manager) Jens von Gierke, Wave Hospitality Advisor(Owner Advisor) o ATTACHMENTS: Disclosure of Ownership Certificate ° U, ALTA/ACSM Land Title Survey o Sheet A0.3-ABI Site Plan Letter of Authorization of Representation GIS list of adjacent property owners Land Use Application Application Fee Dear Chris, This letter serves as a list of required items pertaining to obtaining a Temporary Use Permit per Section 26.450.060 of Chapter 26.450 "Temporary and Seasonal Uses", and Section 26.304.030 of Chapter 26.304 "Common Development and Review Procedures". Application Items (per Section 26.304.030 Application and Fees): 1. Owner: 315 East Dean Associates, Inc. c/o Opt Asia Capital Co. Ltd. All Seasons Place, CRC Tower, 10th Floor, 8712 Wireless Road, Bangkok 10330, Thailand Phone: 662-654-2929 (ext. 101) Represented by: Sarah Broughton, AIA Rowland+Broughton Architecture and Urban Planning 117 S. Monarch St. Aspen, CO 81611 Phone: 970.544.9006 Page 1 of 2 owland+ roughton architecture and urban design 2. Street Address: St. Regis Aspen Resort 315 East Dean Street Aspen, CO 81611 Parcel ID: 273718285032 Legal Description: Sub: Aspen Residence Club & Hotel, Desc: Commercial 3. See Attached Discloser of Ownership Certificate 4. See Vicinity Map on Attached Sheet A0.3-ABI Site Plan 5. See Attached Sheet A0.3-ABI Site Plan for the proposed layout 6. See Attached ALTA/ACSM Land Title Survey 7. The applicant is interested in covering the open courtyard accessed off of Mill Street for a maximum of 180 days of the year with a temporary retractable roof. The courtyard is approximately 9'-4" below the grade of Mill Street and does not comply with today's definition of public amenity as defined in Section 26.575.030.F. The retractable roof will only be used in inclement weather. Best Regards, Sarah Broughton, AIA IV arah Broughton Date Page 2 of 2 1 }I I # 315 East Dean Associates, Inc 24 February 2011 Chris Bendon Community Development Director City Hall 130 S. Galena Street Aspen, CO 81611 PROJECT: Aspen St. Regis Resort Remodel SUBJECT: Temporary Use Application Dear Chris, This letter serves as authorization for Rowland+ Broughton Architecture and Urban Design to act on behalf of the owner, 315 East Dean Associates, Inc c/o Opt Asia, to submit for the temporary use application for the remodel of the Aspen St. Regis Resort . If you have any questions about this authorization please do not hesitate to contact me. Thank you, Tanasak Wahawisan President CITY OF ASPEN PRE-APPLICATION CONFERENCE SUMMARY PLANNER: Sara Adams,429-2778 DATE: 12/21/10 PROJECT: Aspen Mountain PUD, Lot 1 (St. Regis) REPRESENTATIVE: Sarah Broughton (Rowland+ Broughton Architecture and Urban Planning) TYPE OF APPLICATION: PUD Amendment(Other), Commercial Design Standard Review DESCRIPTION: Proposal: The potential applicant is interested in the following: covering the open courtyard accessed off of Mill Street for 6 months of the year; moving the existing restaurant named "Olives" to the location currently occupied by the Aspen Back Institute; converting the existing Olives space to event/dining space for larger parties; adding minor aesthetic changes to the porte cochere that include a new marquis and faux windows within the existing bays. Background: The Aspen Mountain PUD was approved in 1985 and was first amended in 1988 (there are at least 8 amendments associated with this PUD.) Lot 1, also referred to as Hotel Phase I, describes the existing St. Regis hotel. The first amendment to the PUD approved 204 dining seats and 4,500 square feet of net leasable for dining(see Pitkin County Clerk and Recorder Book 574, Page 839, Section 18), which appears to have been included in the employee generation calculations for mitigation purposes. The PUD plat identified the courtyard accessed off of Mill Street as counting toward the required 40,000 square feet minimum of "open space" on Lot 1 (see Pitkin County Clerk and Recorder Book 23, Page 12). The area in front of the Porte Cochere, accessed off of Durant Street, is identified as open space that contributes to the overall requirement for the parcel. REVIEW PROCESS: Courtyard: (2 options are proposed) Option 1: The courtyard accessed off of Mill Street counts as open space (aka pedestrian amenity). The Planning and Zoning Commission can reduce the 40,000 square feet open space requirement on the parcel via a PUD "other'amendment. Option 2: The City Council can review a temporary (180 day) cover to be added over the open space via a Temporoary Use or a Seasonal Use review. A Seasonal Use can be granted for up to 10 years. This is a public hearing by City Council. Restaurant Relocation: (2 options are proposed) Moving the restaurant to the space indicated on the 1988 PUD plat as"apras ski lounge" (currently the Aspen Back Institute) and changing the restaurant space to event dining requires an amendment to the PUD. The required level of review will be determined by the number of seats and net leasable area allocated to the dining areas. y Option 1: Exceeding 4,500 square feet of net leasable for the dining areas requires an `other" amendment by the Planning and Zoning Commission to change the dimensional requirements, and requires mitigation for the employees generated by the increase in net leasable area for the dining operation. If previous amendments have already increased the net leasable area by 250 square feet over the amount approved in 1985, then a Major P&Z application for Growth Management Review is required. Applications for Major P&Z Growth Management Review may only be submitted on February 15th or August 15th and are subject to community objectives scoring. If this proposal does not increase the net leasable by 250 square feet over the amount approved in 1985 then an Administrative Application for Growth Management Review is required. A PUD `other"Amendment and, if applicable, Growth Management Review, are reviewed and approved/denied by the Planning and Zoning Commission at a public hearing. Option 2: Increase 204 dining seats and no increase to the 4,500 square feet of net leasable area for dining requires a PUD `other" Amendment to withdraw the seat number restriction in the PUD. The potential applicant must provide documentation that calculates the net leasable for the dining area using the current code definitions and calculations for net leasable area. Porte Cochere: Open space must remain open to the sky, which prohibits the marquis from extending over the open space area identified on the recorded plat. However, the applicant may request a reduction of the open space requirement described above via a PUD amendment. The marquis is not permitted to extend into the right of way. The proposed faux windows with back lighting are required to meet the Lighting Standards in the Land Use Code. The marquis and windows are minor changes that are exempt from Commercial Design Standard Review, pursuant to Section 26.412.020.8. Land Use Code Section(s) 26.304 Common Development Review Procedures 26.412.020 Commercial Design Standard Review Applicability 26.445.100 B. Other Amendment, Planned Unit Development 26.470.060.5 Growth Management Quota System (GMQS): Administrative application. 26.470.080 GMQS: Major Planning and Zoning Commission application 26.470.080.3 Major GMQS— Expansion or New Commercial Development 26.575.030 Public Amenity 26.575.150 Outdoor Lighting Review by: Staff for complete application Referral agencies for technical considerations if necessary Public Hearing: Yes at P&Z review and at City Council review. 2010 Planning Fees: $1,470 (for 6 hours of staff time). Additional hourly billing beyond 6 hours is $245.00 per hour. **this is based on the 2010 fee schedule and is subject to change in 2011. Total Number of Application Copies: 12 Copies To apply, submit the following information: 1. Total Deposit for review of application. 2. Completed Land Use Application. Applicant's name, address and telephone number, contained within a letter signed by the applicant stating the name, address, and telephone number of the representative authorized to act on behalf of the applicant. 4. Signed fee agreement. 5. Pre-application Conference Summary. 6. An 81/2"x 11"vicinity map locating the subject parcels within the City of Aspen. 7. Proof of ownership/right to apply. 8. A written description of the proposal and a written explanation of how a proposed development complies with the review standards relevant to the development application. 9. Dimensional floor plans of existing and proposed, including elevations relevant to the application. 10. Documentation of the number of seats existing and the number proposed, and the calculation of net leasable area for the dining operation. 10. List of adjacent property owners within 300'for public hearing. The GIS department can provide this list on mailing labels for a fee. Telephone: 970/920.5453 15. Applications shall be provided in paper format (number of copies noted above) as well as the text only on a Compact Disk. Microsoft Word format is preferred. Text format easily convertible to Word is acceptable. Disclaimer: The foregoing summary is advisory in nature only and is not binding on the City. The summary is based on current zoning, which is subject to change in the future, and upon factual representations that may or may not be accurate. The summary does not create a legal or vested right. ALTA AGSM LAIN)_ TITLE SURVEY OF - -- - - - -�� II LOT 1, SEVENTH AMENDED PLAT, ASPEN MOUNTAIN SUBDIVISION AND PLANNED UNIT DEVELOPMENT � CITY OF ASPEN, COUNTY OF PITKIN, STATE OF COLORADO ji i i I I�'' pT'O9)r•w AVEryUE I I' iirl erg' I. Ie S NOTES I N 1)AFTER RENEW CF F.1 NIP.MAP PANEL NO.OBO97CO203C THE LOT AS SHOWN HEREON IS NOT WiHIN THE ROOD PLAIN. MAP DATE'JUNE 4,1987 2)EASEMEHTS RECORDED OR UNRECORDED HAVE BEEN SHOWN BASED UPON 711E COIIJAIMENT,PREPARED CESCRIPION. ° ORDER N0.405066-CSI CHICAGO TITLE COMPANY. Ii 3)LOCATION OF LITOTES SHOWN AS EVIDENCE BY ON SITE OBSERVATION. LOT I,SEVENTH AMENDED PI-A7, ASPEN ADO MOUNTAINS PARTICULARLY AND iESCR18 UN OLLOA PME:T, 4)THE UNDERSIGNED HAS BEEN FURNISHED WIN A COMMITMENT FOR TTL INSURAPICE, 2 COMMIII.IENT N0.40506E-C(THE'CJ.M'MENY),FOR 1NE PROPERTY LOCATED Ai COUNTY OF PITKIN,STATE OF COLORADO BEING MORE PARTICULARLY DESCRIBED AS FOLLONT.. ASPEN MOUNTAIN SUBDINSION(hEE PROPERTN)T.G LIED BY CHICAGO MULE LOCATED �? `7 � / COMPANY('RHE'CLUE COMPANY')DATED AS OF SEPTEMBER 19,1997. III BEGIIJNING AT THE NORTHWESTERLY CORNEA OF SAID LOT 1 BEING A POINT ALONG THE SOJTHEfiLY ©� t .t,, ! V 5)ME UNDERSIGNED HAS MADE OR CAUSED 70 BE MADE A PHYSICAL OBSERVATION Of JNE OF DIJRANT AVENUE,'HENCE ALONG SAID SOUTHERLY ONE 5 75'0911'E,120.62 FEE / / WIN ALL BEARINGS 111TAINCC H!REIN REIATVE'HEROD THENCE S 145049'W,125,00 THE PROPERTY BY 175 REPRESENTATIVES. FEET THENCE 5 750911'E 150.78 EEG*70 A P014'ALONG THE'WESTERLY ONE OF 6)THE UNDERSIGNED HAS PREPARED OR CAUSED 70 BE PREPARED UNDER ITS SUPERVISION SOUTH MILL STREET'THENCE ALONG SAID WESTERLY ONE THE FOLLOWNC THREE(3)COURSES'. « nqy rqr I \ A FlF1D SURVEY OF THE PROPERTY DATED AS SHOWN HEREON. I)5 115049'W 25A0 FEET, - l yJ J 11k1 7)THE SURVEY CORRECTLY SHOWS(A)THE BOUNDARY LINES OF THE PROPERTY SING(8)THE II 2.)THENCT S 750911'W 33.FEE"', LOCATOM1 OF ALL EASEMENTS AND PIGHi OF WAYS DISCLOSED BY THE COMWITMENT AND 7)THENCE S 14'5049'W 3788 FEET, � u. } _7 THE OBSERVATION OF THE PROPERTY MADE BY THE UNDERSIGNED. THE DESCRIPTION 0.1 THENCE N 75V000 W 7294 FEE"THENCE S 14'36'OC'W.137,81(',57.81 PLAT)fE'7;THENCE ) - _ k7 THE SURVEY 15 A TRUE,CORRECT AND COMP N 759000 W,33.88 FEET;THENCE N 154950'E,19320 FEET TO A PONT ALONG THE / �1—�'I 5D9 L1'N 8)THE SURVEY GRAPHICALLY SNOWS THE SIZE,LOCATION,TYPE AND RELARON POF BUILDING AND 0THEP, NCRTHERLY ONE CF JUNIATA STREET THENCE ALONG SAID NORTHERLY LWF N 750000''N, 1 r /, j 15a7g- SIRUCNRES,('IMPROVEMENTS-) 172 72 FEET TO A POINT ALONG THE EAS-ER_Y LINE OF PLO RCH STREET,HENCE ALONG SAID �n it J (y �� .°�- 1 9)EYCEPI AS SHOWN ON THE SUP,VEY,THERE ARE NO NSBLf EASEMENTS OR RWHT-OF-WAY EASTERLY LINEN 1400 49'E 501.15 fFF TO TIE POIM1T OF'B_CINNING AND CONiNNING r) ``'=C ACROSS THE PROPERTY OR ANY OTHER EASEMENTS OR RIGHT-0F WAY ACROSS'HE PROPERTY 296 ACRES MORE OR LESS. I 7 / J � °j OF WHICH THE UNDERSIGNED IS AWARE. 10)EXCEPT AS SHOWN ON THE SURVEY,THERE ARE NO MATERIAL ENCROACHMENTS BY THE IM.ROVEMEVT INTO �` N 75"J9'I1'W ADJACENT PROPERTY OR INTO EASEMENT AREAS OF OTHERS OF WHICH THE UNDERSIGNED S AWARE. 4.23 11)EXCEPT AS SHOWN ON THE SURVEY,THERE ARE NO ENCROACHMENTS BY BUILDING AND SIRUCILRES L0 AIEU ON ADJACENT PROPERTY OR INTO THE AREAS OF ANY EASEMENTS EXISTING FOR THE BENEFIT OF ANO APPURTENANT TO THE PROPERTY O-WHICH THE UNDENSIGNED IS AWARE. 12)THE IMPRIY&MENTS ON THE PROPERTY APPEAR TO HAVE 01RECT ACCESS TO DEDICATED PUCJC WAY: MONARCH ADD MILL STREETS. III II' _ w �1. srxco _ N j r m TL1.CHICAGO TTE INSURANCE COMPANY o _ _ °Li `�'�.J l r THIS IS TO CERTIFY THAT THIS MAP OR PLAT AND THE SURVEY ON WHICH IT I;i / BASED WERE MADE IN ACCORDANCE WIN 'MINIMUM STANDARD DETAIL l� .l REQUIREMENTS FOR ALTA/ACSM LAND TITLE SURVEYS,',JOINTLY ESTABUSNEJ I• r J r -_ - AND ADOPTED Bti ALTA AND ACSM IA 1992,AND INCLUDES I11;TI5 I,3,4,7A.iB', ( P AMI T P P e THFR ,ANA PPR9:AN O IF'ICCIRACY L STANDARDS A/M>P,7D BY ALTA AND ACSIA AND IN EFFECT ON THE DATE OF s / THIS CER I{�EgF ARyJfBAN SURVEY_ J 5 ,lDm _ AJAJD J i I[I cB� r� DATE_tG0 . (SIGN .^ffj0 COUNTRY 5,INC. POW26290 r !AL LnNUV / n �� �— .ROSS COVNTfYP/9URNBM�'�AING HAS MADE NO INVESTIGATION OR INDEPENDENT I )� _\ 7�_7 ( N SEARCH FOR EASEMENTS AECQRDEO/UNREGORDED ENCUMBRANCES RESTRICT U< - / COVENANTS OWNERSHIP TIRE EVIDENCE OR ANY OTHER FACTS THAT AN ACCJRATE /l S AND CURRENT TIRE SEARCH MAY DISCLOSE ln-a� - �� �l 3 CROSS COUNTRY SURVEY INC HEREBY CERTIFIES THE APPARENT EASEMENTS ARE AS SHOWN HEREON AND THAT THERE ARE NO ENCROACHMENTS OF IMPROVEMENTS ONTO AD'ACEN PROPERTY OR INTO E ONTO SUBJECT PROPERTY,AND THAT HE ARE NO ENCROACHMENTS JF IMPROVEMENTS LOCATED ON ADJACENT PROPERTY Y,EXOEPi AS SHOWN HLI2EON. GRAPHIC SCALE Z s010 W A� SCALE'.1'=40' "°"JAI hy2' DATE 12 3197 A 37REET - I III a i I I � 3311 F T lk(x iNOTICE.ACCORDING 10 COLORADO LAW 7W MUST CONVINCE ANY LEGAL ACTON BASED UPON ANY DEFECT IN THIS SURVEY MAY AC THREE YEARS AFTER YOU I'RSi <`� �UI 1�1 DISCOVERED SUCH DFE�CT.IN NO EVENT,MAY ACTON BASED UPON ANY DEFECT IN THIS L/ — — — SHOWN BE COMMp.CEC MORE THAN TEN YEARS MOM THE DALE OF THE CERTFICATON SUNBYS, Inc. -11445 Wesl l-7D FTOrIaBe Road N01'N H SHOWN HEREON. 9 O B $uAB 702 4YNeaI (303)4034706 FeA(303IMBED�33 I,, LOT 1, ASPEN MOUNTAIN SUBDIVISION AND PLANNED UNIT DEVELOPMENT CITY OF ASPEN, COUNTY OF PITKIN, STATE OF COLORADO �� ROTTET STUDIO ARCHITECTURE AND DESIGN 8M TRAVIS ST,SUITE 100,HOUSTON,TX]]002 7.713 221.1830 F:713.2211856 i Iwvw.mnew,ela.mm I I s r rowland+broughton 117 architecture s onand urban design 3377 61ake s(106 aspen- 1st l 9]0.544.9006 v da303r308.13�30v 9]0.544.34]31 303.308.13]51 I VICDdIT_Y AL4P ��� - S/. PROJECT MANAGEMENT'~ I 7361 CALHOUN PLACE,SUITE 310 'V ROOMLLE,MARY LAND 20655 301.670.1635 301.670.9643 fax nehme m / I \ I I 03.24.2011 ® ABI RESTAURANT PERMIT SET &vw PROPOSED OVE TEMPORnRY� /r /5 R E l � r I ip� I e I I % C / ST.REGIS ASPEN RESORT ! REMODEL 315 EAST DEAN STREET ASPEN,CO 81611 1 1\� { CCS ( CONSULTANTS 4860 ROB STREET,SUITE 101 WHEAT RIDGE,C68M33 _ PHONE:(303)403.4]06 FOR REFERENCE ONLY-NTS i I I y PROJECT NO -- - 21092 DWG FILE_ { 21092 AO-3-ABI_Site PIan.My a F SHEET TITLE 3 SITE PLAN a SCALE: NTS P� A0.3-AB I ALTA Owner's Policy(6-17-06) POLICY OF TITLE INSURANCE ISSUED BY Stewart title guaranty company Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS,STEWART TITLE GUARANTY COMPANY,a Texas corporation,(the"Company")insures,as of Date of Policy and,to the extent stated in Covered Risks 9 and 10,after Date of Policy,against loss or damage,not exceeding the Amount of Insurance,sustained or incurred by the insured be reason of I. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery,fraud,undue influence,duress,incompetency,incapacity,or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law (v) a document executed under a falsified,expired,or otherwise invalid power of attorney (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law;or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable,but unpaid. (c) 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. The term"encroachment"includes encroachments of existing improvements located on the Land onto adjoining land,and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance,permit,or governmental regulation(including those relating to building and zoning)restricting, regulating,prohibiting,or relating to (a) the occupancy,use,or enjoyment of the Land; (b) the character,dimensions,or location of any improvement erected on the Land; (c) the subdivision of land;or (d) environmental protection if a notice,describing any part of the Land,is recorded in the Public Records setting forth the violation or intention to enforce,but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land,is recorded in the Public Records,but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. Countersigned: Stewart 4j�a� title guaranty company Senior A orized Countersignature Chairman oft the Board Stewart Title of Colorado Inc. Aspen Division 9 0 8 0 Chairman of the Board 620 East Hopkins Avenue " rFZ;wS,"i"" Aspen,Colorado 81611 , Phone:970-925-3577 President Fax:970-925-1384 Agent ID: 06011A Serial No.:0-9301-1724768 ALTA OWNER'S POLICY 6-17-06 If you want information about coverage or need assistance to resolve complaints,please call our toll free number, 1-800.729-1902. If you make a claim under your policy,you must furnish written notice in accordance with Section 3 of the Conditions. Visit our World-Wide Web site at www.stewart.eom. Y COVERED RISKS(Continued) 9. Title being vested other than as stated in Schedule A or being defective (i) to be timely,or (a) as a result of the avoidance in whole or in part, or from a court order (ii) to impart notice of its existence to a purchaser for value or to a providing an alternative remedy,of a transfer of all or any pail of the title to judgment or lien creditor. or any interest in the Land occurring prior to the transaction vesting Title 10. Any defect in or lien or encumbrance on the Title or other matter included in as shown in Schedule A because that prior transfer constituted a fraudulent Covered Risks 1 through 9 that has been created or attached or has been filed or or preferential transfer under federal bankruptcy, state insolvency, or recorded in the Public Records subsequent to Date of Policy and prior to the similar creditors'rights laws;or recording of the deed or other instrument of transfer in the Public Records that (b) because the instrument of transfer vesting Title as shown in Schedule A vests Title as shown in Schedule A. constitutes a preferential transfer under federal bankruptcy, state The Company will also pay the costs,attorneys'fees,and expenses incurred in defense insolvency,or similar creditors'rights laws by reason of the failure of its of any matter insured against by this Policy, but only to the extent provided in the recording in the Public Records Conditions. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy,and the (b) not Known to the Company,not recorded in the Public Records at Date of Company will not pay loss or damage,costs,attorneys'fees,or expenses that arise by Policy,but Known to the Insured Claimant and not disclosed in writing to reason of: the Company by the Insured Claimant prior to the date the Insured 1. (a) Any law,ordinance, permit, or governmental regulation (including those Claimant became an Insured under this policy; relating to building and zoning)restricting,regulating,prohibiting,or relating to (c) resulting in no loss or damage to the Insured Claimant; 0) the occupancy,use,or enjoyment of the Land: (d) attaching or created subsequent to Date of Policy(however,this does not (ii) the character,dimensions,or location of any improvement erected on modify or limit the coverage provided under Covered Risk 9 and 10);or the Land; (e) resulting in loss or damage that would not have been sustained if the (iii) the subdivision of land;or Insured Claimant had paid value for the Title. (iv) environmental protection; 4. Any claim,by reason of the operation of federal bankruptcy,state insolvency,or or the effect of any violation of these laws,ordinances,or governmental regulations. similar creditors'rights laws,that the transaction vesting the Title as shown in This Exclusion I(a) does not modify or limit the coverage provided under Covered Schedule A,is Risk 5. (a) a fraudulent conveyance or fraudulent transfer;or (b) Any governmental police power. This Exclusion I(b)does not modify or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this limit the coverage provided under Covered Risk 6. policy. 2. 2. Rights of eminent domain. This Exclusion does not modify or limit the 5. Any lien on the Title for real estate taxes or assessments imposed by coverage provided under Covered Risk 7 or 8. governmental authority and created or attaching between Date of Policy and the 3. Defects,liens,encumbrances,adverse claims,or other matters date of recording of the deed or other instrument of transfer in the Public Records (a) created,suffered,assumed,or agreed to by the Insured Claimant; that vests Title as shown in Schedule A. CONDITIONS 1. DEFINITION OF TERMS (ii) With regard to (A), (9), (C), and (D) reserving, however, all The following terms when used in this policy mean: rights and defenses as to any successor that the Company would (a) "Amount of Insurance": The amount stated in Schedule A,as may be have had against any predecessor Insured. increased or decreased by endorsement to this policy, increased by (e) 'Insured Claimant": An Insured claiming loss or damage. Section 8(b),or decreased by Sections 10 and I I of these Conditions. (f) "Knowledge" or "Known": Actual knowledge, not constructive (b) "Date of Policy": The date designated as"Date of Policy"in Schedule knowledge or notice that may be imputed to an Insured by reason of A. the Public Records or any other records that impart constructive notice (C) "Entity": A corporation,partnership,trust,limited liability company, of matters affecting the Title. or other similar legal entity. (g) "Land": The land described in Schedule A,and affixed improvements (d) "Insured": The Insured named in Schedule A. that by law constitute real property. The term"Land"does not include (i) The term'Insured"also includes any property beyond the lines of the area described in Schedule A,nor (A) successors to the Title of the Insured by operation of law any right,title,interest,estate,or easement in abutting streets,roads, as distinguished from purchase, including heirs,devisees, avenues,alleys,lanes,ways,or waterways,but this does not modify or survivors,personal representatives,or next of kin; limit the extent that a right of access to and from the Land is insured (B) successors to an Insured by dissolution, merger, by this policy. consolidation,distribution,or reorganization; (h) "Mortgage": Mortgage, deed of trust, trust deed, or other security (C) successors to an Insured by its conversion to another kind instrument, including one evidenced by electronic means authorized of Entity; by law. (D) a grantee of an Insured under a deed delivered without (i) 'Public Records": Records established under state statutes at Date of payment of actual valuable consideration conveying the Title Policy for the purpose of imparting constructive notice of matters (1) if the stock, shares, memberships, or other equity relating to real property to purchasers for value and without interests of the grantee are wholly-owned by the named Knowledge. With respect to Covered Risk 5(d), "Public Records" Insured, shall also include environmental protection liens filed in the records of (2) if the grantee wholly owns the named Insured, the clerk of the United States District Court for the district where the (3) if the grantee is wholly-owned by an affiliated Entity Land is located. of the named Insured, provided the affiliated Entity and (1) "Title": The estate or interest described in Schedule A. the named Insured are both wholly-owned by the same (k) "Unmarketable Title":Title affected by an alleged or apparent matter person or Entity,or that would permit a prospective purchaser or lessee of the Title or (4) if the grantee is a trustee or beneficiary of a trust lender on the Title to be released from the obligation to purchase, created by a written instrument established by the Insured lease,or lend if there is a contractual condition requiring the delivery named in Schedule A for estate planning purposes. of marketable title. CONDITIONS(Continued) 2. CONTINUATION OF INSURANCE Whenever requested by the Company,the Insured,at the Company's The coverage of this policy shall continue in force as of Date of Policy in expense, shall give the Company all reasonable aid (i) in securing favor of an Insured, but only so long as the Insured retains an estate or evidence,obtaining witnesses,prosecuting or defending the action or interest in the Land, or holds an obligation secured by a purchase money proceeding,or effecting settlement,and(ii)in any other lawful act that Mortgage given by a purchaser from the Insured, or only so long as the in the opinion of the Company may be necessary or desirable to Insured shall have liability by reason of warranties in any transfer or establish the Title or any other matter as insured. If the Company is conveyance of the Title. This policy shall not continue in force in favor of prejudiced by the failure of the Insured to furnish the required any purchaser from the Insured of either(i)an estate or interest in the Land, cooperation,the Companys obligations to the Insured under the policy or(ii)an obligation secured by a purchase money Mortgage given to the shall terminate, including any liability or obligation to defend, Insured. prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT (b) The Company may reasonably require the Insured Claimant to submit The Insured shall notify the Company promptly in writing(i)in case of any to examination under oath by any authorized representative of the litigation as set forth in Section 5(a) of these Conditions, (ii) in case Company and to produce for examination,inspection,and copying,at Knowledge shall come to an Insured hereunder of any claim of title or such reasonable times and places as may be designated by the interest that is adverse to the Title,as insured,and that might cause loss or authorized representative of the Company, all records, in whatever damage for which the Company may be liable by virtue of this policy,or(iii) medium maintained, including books, ledgers, checks, memoranda, if the Title,as insured,is rejected as Unmarketable Title. If the Company is correspondence, reports, e-mails, disks, tapes, and videos whether prejudiced by the failure of the Insured Claimant to provide prompt notice, bearing a date before or after Date of Policy,that reasonably pertain to the Company's liability to the Insured Claimant under the policy shall be the loss or damage. Further, if requested by any authorized reduced to the extent of the prejudice. representative of the Company,the Insured Claimant shall grant its permission, in writing, for any authorized representative of the 4. PROOF OF LOSS Company to examine, inspect, and copy all of these records in the In the event the Company is unable to determine the amount of loss or custody or control of a third party that reasonably pertain to the loss or damage,the Company may,at its option,require as a condition of payment damage. All information designated as confidential by the Insured that the Insured Claimant furnish a signed proof of loss. The proof of loss Claimant provided to the Company pursuant to this Section shall not must describe the defect,lien,encumbrance,or other matter insured against be disclosed to others unless, in the reasonable judgment of the by this policy that constitutes the basis of loss or damage and shall state,to Company,it is necessary in the administration of the claim. Failure of the extent possible, the basis of calculating the amount of the loss or the Insured Claimant to submit for examination under oath,produce damage. any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this 5. DEFENSE AND PROSECUTION OF ACTIONS subsection,unless prohibited by law or governmental regulation,shall (a) Upon written request by the Insured, and subject to the options terminate any liability of the Company under this policy as to that contained in Section 7 of these Conditions,the Company,at its own claim. cost and without unreasonable delay,shalt provide for the defense of an Insured in litigation in which any third party asserts a claim 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; covered by this policy adverse to the Insured. This obligation is TERMINATION OF LIABILITY limited to only those stated causes of action alleging matters insured In case of a claim under this policy,the Company shall have the following against by this policy. The Company shall have the right to select additional options: counsel of its choice(subject to the right of the Insured to object for (a) To Pay or Tender Payment of the Amount of Insurance. To pay or reasonable cause)to represent the Insured as to those stated causes of tender payment of the Amount of Insurance under this policy together action. It shall not be liable for and will not pay the fees of any other with any costs,attorneys' fees,and expenses incurred by the Insured counsel. The Company will not pay any fees, costs, or expenses Claimant that were authorized by the Company up to the time of incurred by the Insured in the defense of'those causes of action that payment or tender of payment and that the Company is obligated to allege matters not insured against by this policy. pay. Upon the exercise by the Company of this option,all liability (b) The Company shall have the right,in addition to the options contained and obligations of the Company to the Insured under this policy,other in Section 7 of these Conditions, at its own cost, to institute and than to make the payment required in this subsection,shalt terminate, prosecute any action or proceeding or to do any other act that in its including any liability or obligation to defend,prosecute,or continue opinion may be necessary or desirable to establish the Title, as any litigation. insured, or to prevent or reduce loss or damage to the Insured. The (b) To Pay or Otherwise Settle With Parties Other Than the Insured or Company may take any appropriate action under the terms of this With the Insured Claimant. policy,whether or not it shall be liable to the insured. The exercise of (i) To pay or otherwise settle with other parties for or in the name these rights shall not be an admission of liability or waiver of any of an Insured Claimant any claim insured against under this provision of this policy. If the Company exercises its rights under this policy. In addition,the Company will pay any costs,attorneys' subsection,it must do so diligently. fees,and expenses incurred by the Insured Claimant that were (c) Whenever the Company brings an action or asserts a defense as authorized by the Company up to the time of payment and that required or permitted by this policy, the Company may pursue the the Company is obligated to pay;or litigation to a final determination by a court of competent jurisdiction, (ii) To pay or otherwise settle with the Insured Claimant the loss or and it expressly reserves the right,in its sole discretion,to appeal any damage provided for under this policy,together with any costs, adverse judgment or order. attorneys'fees,and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment 6. DUTY OF INSURED CLAIMANT TO COOPERATE and that the Company is obligated to pay. (a) In all cases where this policy permits or requires the Company to Upon the exercise by the Company of either of the options provided prosecute or provide for the defense of any action or proceeding and for in subsections (b)(i) or (ii), the Company's obligations to the any appeals,the Insured shall secure to the Company the right to so Insured under this policy for the claimed loss or damage,other than prosecute or provide defense in the action or proceeding,including the the payments required to be made, shall terminate, including any right to use,at its option, the name of the Insured for this purpose. liability or obligation to defend,prosecute,or continue any litigation. CONDITIONS(Continued) 81 DETERMINATION AND EXTENT OF LIABILITY Insured Claimant,the Company shall defer the exercise of its right to This policy is a contract of indemnity against actual monetary loss or recover until after the Insured Claimant shall have recovered its toss. damage sustained or incurred by the Insured Claimant who has suffered loss (b) The Company's right of subrogation includes the rights of the Insured or damage by reason of matters insured against by this policy. to indemnities, guaranties, other policies of insurance, or bonds, (a) The extent of liability of the Company for loss or damage under this notwithstanding any terms or conditions contained in those policy shall not exceed the lesser of instruments that address subrogation rights. (i) the Amount of Insurance;or (ii) the difference between the value of the Title as insured and the 14. ARBITRATION value of the Title subject to the risk insured against by this Either the Company or the Insured may demand that the claim or policy controversy shall be submitted to arbitration pursuant to the Title Insurance (b) If the Company pursues its rights under Section 5 of these Conditions Arbitration Rules of the American Land Title Association("Rules"). Except and is unsuccessful in establishing the Title,as insured, as provided in the Rules, there shall be no joinder or consolidation with (i) the Amount of Insurance shall be increased by 10%,and claims or controversies of other persons. Arbitrable matters may include, (ii) the Insured Claimant shall have the right to have the loss or but are not limited to,any controversy or claim between the Company and damage determined either as of the date the claim was made by the Insured arising out of or relating to this policy,any service in connection the Insured Claimant or as of the date it is settled and paid. with its issuance or the breach of a policy provision, or to any other (c) In addition to the extent of liability under(a)and(b),the Company controversy or claim arising out of the transaction giving rise to this policy. will also pay those costs, attorneys' fees, and expenses incurred in All arbitrable matters when the Amount of Insurance is 52,000,000 or less accordance with Sections 5 and 7 of these Conditions. shall be arbitrated at the option of either the Company or the Insured. All arbitrable matters when the Amount of Insurance is in excess of$2,000,000 9. LIMITATION OF LIABILITY shall be arbitrated only when agreed to by both the Company and the (a) If the Company establishes the Title,or removes the alleged defect, Insured. Arbitration pursuant to this policy and under the Rules shall be lien,or encumbrance,or cures the lack of a right of access to or from binding upon the parties. Judgment upon the award rendered by the the Land,or cures the claim of Unmarketable Title,all as insured,in a Arbitrator(s)may be entered in any court of competent jurisdiction. reasonably diligent manner by any method,including litigation and the completion of any appeals,it shall have fully performed its obligations 15. LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE with respect to that matter and shall not be liable for any loss or CONTRACT damage caused to the Insured. (a) This policy together with all endorsements,if any,attached to it by the (b) In the event of any litigation,including litigation by the Company or Company is the entire policy and contract between the Insured and the with the Company's consent,the Company shall have no liability for Company. In interpreting any provision of this policy,this policy shall loss or damage until there has been a final determination by a court of be construed as a whole. competent jurisdiction,and disposition of all appeals,adverse to the (b) Any claim of loss or damage that arises out of the status of the Title or Title,as insured. by any action asserting such claim shall be restricted to this policy. (c) The Company shall not be liable for loss or damage to the Insured for (c) Any amendment of or endorsement to this policy must be in writing liability voluntarily assumed by the Insured in settling any claim or and authenticated by an authorized person,or expressly incorporated suit without the prior written consent of the Company. by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a pail of 10. REDUCTION OF INSURANCE;REDUCTION OR TERMINATION this policy and is subject to all of its terms and provisions. Except as OF LIABILITY the endorsement expressly states, it does not (i) modify any of the All payments under this policy,except payments made for costs,attorneys' terms and provisions of the policy,(ii)modify any prior endorsement, fees,and expenses,shall reduce the Amount of Insurance by the amount of (iii) extend the Date of Policy, or (iv) increase the Amount of the payment. Insurance. 11. LIABILITY NONCUMULATIVE 16. SEVERABILITY The Amount of Insurance shall be reduced by any amount the Company In the event any provision of this policy,in whole or in pail,is held invalid pays under any policy insuring a Mortgage to which exception is taken in or unenforceable under applicable law,the policy shall be deemed not to Schedule S or to which the Insured has agreed,assumed,or taken subject,or include that provision or such part held to be invalid,but all other provisions which is executed by an Insured actor Date of Policy and which is a charge shall remain in full force and effect. or lien on the Title,and the amount so paid shall be deemed a payment to the Insured under this policy. 17. CHOICE OF LAW;FORUM (a) Choice of Law: The Insured acknowledges the Company has 12. PAYMENT OF LOSS underwritten the risks covered by this policy and determined the When liability and the extent of loss or damage have been definitely fixed in premium charged therefore in reliance upon the law affecting interests accordance with these Conditions, the payment shall be made within 30 in real property and applicable to the interpretation,rights,remedies, days_ or enforcement of policies of title insurance of the jurisdiction where the Land is located. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT Therefore, the court or an arbitrator shall apply the law of the (a) Whenever the Company shall have settled and paid a claim under this jurisdiction where the Land is located to determine the validity of policy,it shall be subrogated and entitled to the rights of the Insured claims against the Title that are adverse to the Insured and to interpret Claimant in the Title and all other rights and remedies in respect to the and enforce the terms of this policy. In neither case shall the court or claim that the Insured Claimant has against any person or property,to arbitrator apply its conflicts of law principles to determine the the extent of the amount of any loss, costs, attorneys' fees, and applicable law. expenses paid by the Company. If requested by the Company, the (c) Choice of Forum: Any litigation or other proceeding brought by the Insured Claimant shall execute documents to evidence the transfer to Insured against the Company must be filed only in a state or federal the Company of these rights and remedies. The Insured Claimant court within the United States of America or its territories having shall permit the Company to sue,compromise,or settle in the name of appropriate jurisdiction. the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a 18. NOTICES,WHERE SENT payment on account of a claim does not fully cover the loss of the Any notice of claim and any cuter notice or statement in writing required to be given to the Company under this policy must be given to the Company at Claims Department at P.O.Box 2029,Houston,TX 77252-2029. ALTA OWNER'S POLICY(6/17/06) SCHEDULE A Name and Address of Title Insurance Company: Stewart Title Guaranty Company P.O.Box 2029 Houston,Texas 77252-2029 Prepared by: Colorado Regional Production Center Title Officer: Linda Williams Order Number: 23256--C8 Policy Number: 0-9301-1724768 Date of Policy: October 4,2010 at 11:37 AM (or the date of recording of(lie insured deed,whicliever is later) Amount of Insurance: $70,000,000.00 Premium: $43,654.00 *Address Reference: 315 East Dean Street Aspen,Colorado 81611 1. Name of Insured: 315 EAST DEAN ASSOCIATES, INC., A DELAWARE CORPORATION 2. The estate or interest in the land that is insured by this Policy is: Fee Simple 3. Title to the estate or interest in the land is vested in: 315 EAST DEAN ASSOCIATES, INC., A DELAWARE CORPORATION 4. The land referred to in this policy is described as follows: HOTEL UNIT And COMMERCIAL UNIT ASPEN RESIDENCE CLUB AND HOTEL CONDOMINIUM MAP According to the Plat recorded January 21, 2005 in Plat Book 71 at Page 86 as Reception No. 506237 and as defined and described in the Declaration and Plan of Club Ownership For Aspen Residence Club and Hotel Condominium recorded January 21, 2005 as Reception No. 506236 COUNTY OF PITKIN, STATE OF COLORADO *FOR COMPANY REFERENCE PURPOSE ONLY,NOT AN INSURING PROVISION ALTA Owner's Policy—Schedule A stewart� Page 1 of I Policy Typist:LGW C--n9oguerentyoomneny ALTA OWNER'S POLICY(6/17/06) SCHEDULE B Exceptions From Coverage Order Number: 23256--C8 Policy Number: 0-9301-1724768 This policy does not insure against loss or damage (and the Company will not pay costs, attorney's fees or expenses)which arise by reason of: 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. 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. Unpatented mining claims, reservations or exceptions in patents, or in acts authorizing the issuance thereof. 6. Water rights, claims or title to water. 7. All taxes for year 2010,which are a lien not yet payable. 8. The effect of inclusion in the following tax districts: Pitkin County; Healthy Community Fund; Aspen Ambulance District; Open Space&Trails; Pitkin County Library; City of Aspen; Aspen Fire Protection; Aspen Sanitation District; Colorado Mtn. College; Colorado River Water Cons.; Aspen Historic District. 9. Reservations and exceptions in Patents,or Acts authorizing the issuance thereof,including the reservation of the right of proprietor of a vein or lode to extract and remove his ore therefrom should the same be found to penetrate or intersect the premises as reserved in United States Patent recorded April 4, 1884 in Book I i at Page 65. 10. Terms and conditions of Assignment of Easement between Ralph P. and Marian H.Melville and Mountain Chalet Enterprises Inc,recorded December 29, 1975 in Book 307 at Page 88. 11. All matters contained in the City of Aspen Ordinance No. 14, Series of 1985 recorded June 26, 1985 in Book 488 at Page 717. 12. Easement and right of way by Savanah Limited Partnership to Mountain Chalet Enterprises recorded October 4, 1989 in Book 604 at Page 184 as Reception No.315797. ALTA Owner's Policy Schedule B-1 r stewart' Page 1 of 3 Vue guar"company ALTA OWNER'S POLICY(6/17/06) 13. Planned Unit Development/Subdivision Agreement with City of Aspen recorded October 3, 1988 in Book 574 at Page 792;recorded August 15, 1990 in Book 627 at Page 457;recorded September 23, 1992 in Book 689 at Page 317;recorded January 7, 1993 in Book 699 at Page 978;recorded February 9, 1993 in Book 703 at Page 221;recorded January 20,2004 as Reception No.493607 and PUD Map recorded January 20,2004 as Reception No.493606 14. Covenant regarding Parking Spaces recorded December 14, 1992 in Book 697 at Page 499 as Reception No. 351804. 15. Easement and right of way to Holy Cross Electric Service recorded January 25, 1993 in Book 701 at Page 818 as Reception No. 353291. 16. All matters shown on the plats recorded October 3, 1988 in Plat Book 21 at Page 35; Amendments recorded July 1, 1989 in Plat Book 22 at Page 85;recorded December 28, 1990 in Plat Book 25 at Page 49; recorded October 1, 1992 in Plat Book 29 at Page 71 and recorded February 9, 1993 in Plat Book 30 at Page 65. 17. All matters shown on the plat of The Aspen Residence Club and Hotel Condominium Map recorded in Plat Book 71 at Page 86. 18. Planned Unit Development/Subdivision Agreement recorded January 15, 1998 as Reception No. 412581. 19. Lease between SLT Aspen Dean Street,LLC and Voicestream PCS II Corporation recorded November 3, 1999 as Reception No.437363. 20. Agreement to Redefine Open Space Easement by SLT Aspen Dean Street, LLC and Savanah Limited Partnership recorded January 30,2001 as Reception No.451036. 21. Declaration and Plan of Club Ownership for Aspen Residence Club and Hotel Condominium recorded January 21,2005 as Reception No. 506236. 22. Aspen Planning and Zoning Commission Resolution No. 6, Series of 2005, Approving A Planned Unit Development Amendment to the St. Regis Hotel recorded February 25, 2005 as Reception No. 507359. THE ABOVE EXCEPTIONS APPLY TO BOTH HOTEL AND COMMERCIAL UNITS 23. Hotel Amenities Use and Access Agreement(Aspen Residence Club and Hotel Condominium) recorded January 21,2005 as Reception No. 506240 APPLIES TO THE HOTEL UNIT ONLY 24. Any and all existing leases and tenancies, APPLIES TO HOTEL AND COMMERCIAL UNITS. 25. Any mechanic's liens for materials,services or labor, contracted for,performed or delivered after the effective date of this Policy.APPLIES TO HOTEL AND COMMERCIAL UNITS. 26. Surrender of Control and Partial Modification of Rights for Aspen Residence Club And Hotel Condominium recorded October 4, 2010 as Reception No. 574027. ALTA Owner's Policy Schedule B-1 - n stu art° Page 2 of 3 tme guaranty company ALTA OWNER'S POLICY(6/17/06) 27. A Deed of Trust dated September 29, 2010, executed by 315 East Dean Associates,Inc.,a Delaware corporation,to the Public Trustee,to secure an indebtedness of$71,336,000.00 in favor of The Islamic Bank Of Thailand recorded October 4,2010 as Reception No. 574028. 28. Subordination,Non-Disturbance and Attornment Agreement recorded October 4, 2010 as Reception No.574029. 29. Assignment of Leases and Rents recorded October 4,2010 as Reception No. 574030. 30. Notice by Disburser recorded October 4, 2010 as Reception No. 574031. ALTA Owner's Policy schedule B-1 Lstewarts Page 3 of 3 enie guerw*y company ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 Fstewart title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 The Policy is hereby amended by deleting Paragraph(s): 1-5, inclusive,of Schedule B: This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: stewart title guaranty company ` Ng- Senior Chairman oft the Board A orized Counlersipature Stewart°Title Aspen Division ' ,.•'.' Chairman of the Board 620 East Hopkins Avenue rE x Aspen,Colorado 81611 Phone:970-925-3577 President Fax: 970-925-1384 Agent ID:06011A Serial No. E-9851-8186700 Form 110.1 Deletion of Exception(s)Endorsement ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 STEWART TITLE GUARANTY COMPANY HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 Section 14 of the Conditions relating to arbitration, is hereby deleted in its entirety. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned by: �stewart title guaranty company . - A orizedCouatersipature Senior Chairman of t e Board Stewart Title Aspen Division 620 East Hopkins Avenue r;' s o e ;o�'' „ � .;,.,._• Chairman of the Board Aspen Colorado 81611 rExps;„„r� Phone: 970-925-3577 Fax:970-925-1384 Agent ID: 0601 IA President Endorsement 0-9301-1724768 Serial No. STG Deletion of Arbitration ALTA FORM 3.1-06(Zoning—Complet. ructure) ENDORSEMENT ATTACHED TO POLICY NUMBER 0-9301-1724768 ISSUED BY s E r title guaranty company. Order Number: 23256--C8 Charge: 1. The Company insures against loss or damage sustained by the Insured in the event that,at Date of Policy, according to applicable zoning ordinances and amendments,the Land is not classified Zone LTR PUD the following use or uses are not allowed under that classification: a. Hotel or lodge. b. Timeshare lodge. c. Exempt timesharing. d. Offices and activities accessory to timeshare unit sales e. Bed and breakfast. f. Conference facilities. g. Uses associated with outdoor recreation facilities and event. h. Accessory uses and structures.(Food service for on-site lodge guests is an accessory use.) i. Storage accessory to a permitted use. j. Affordable multi-family housing accessory to a lodging or timeshare operation and for employees of the operation. k. Free market multi-family housing. 1. Home occupations. There shall be no liability under paragraph l.b. if the use or uses are not allowed as the result of any lack of compliance with any conditions, restrictions,or requirements contained in the zoning ordinances and amendments, including but not limited to the failure to secure necessary consents or authorizations as a perquisite to the use or uses. This paragraph 1.c. does not modify or limit the coverage provided in Covered Risk 5. 2. The Company further insures against loss or damage sustained by the Insured by reason of a final decree of a court of competent jurisdiction either prohibiting the use of the Land,with any existing structure,as specified in paragraph 1.b.or requiring the removal or alteration of the structure,because,at Date of Policy,the zoning ordinances and amendments have been violated with respect to any of the following matters: a. Area,width,or depth of the Land as a building site for the structure b. Floor space area of the structure c. Setback of the structure from the property lines of the Land d. Height of the structure,or e. Number of parking spaces. 2. There shall be no liability under this endorsement based on: a. the invalidity of the zoning ordinances and amendments until after a final decree of a court of competent jurisdiction adjudicating the invalidity,the effect of which is to prohibit the use or uses; b. the refusal of any person to purchase,lease or lend money on the Title covered by this policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not(i)modify any of the terms and provisions of the policy,(ii) modify any prior endorsements,(iii)extend the Date of Policy,or(iv)increase the Amount of Insurance.To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. AMERICAN All other uses are prohibited. Reprinted under license from the American Land Title Association. LAND TTTu A� ALTA 3.1-06 Zoning(10/22/09) s�r1A &. ALTA FORM 3.1-06(Zoning—Complete •ucture) Countersigned by: stewart A rizedCountersipture title guaranty company Senior Chairman of t e Board Stewart Title Aspen Division 620 East Hopkins Avenue ,l,.,rxox (Chairman of the Board Aspen,Colorado 81611 ��S,�e c, Phone:970-925-3577 'AcQR crgy{�i� ' Fax:970-925-1384 at 9ro a°=4r IAA4 Agent ID: 06011 A Xp president Endorsement F,-1111-6198282 Serial No. Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. AMERICAN All other uses are prohibited. Reprinted under license from the American Land Title Association. LAND i�rtc p 1.a5UC1AT lUN ALTA 3.1-06 Zoning(10/22/09) ' r, '�" ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 Fstewart P-title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 ALTA Endorsement 4.1-06 (Condominium) Revised 10/16/08 ENDORSEMENT Attached to Policy No. 0-9301-1724768 Issued By STEWART TITLE GUARANTY COMPANY The Company insures against loss or damage sustained by the Insured by reason of: 1. The failure of the unit identified in Schedule A and its common elements to be part of a condominium within the meaning of the condominium statutes of the jurisdiction in which the unit and its common elements are located. 2. The failure of the documents required by the condominium statutes to comply with the requirements of the statutes to the extent that such failure affects the Title to the unit and its common elements. 3. Present violations of any restrictive covenants that restrict the use of the unit and its common elements and that are contained in the condominium documents or the forfeiture or reversion of Title by reason of any provision contained in the restrictive covenants. As used in this paragraph 3, the words "restrictive covenants" do not refer to or include any covenant, condition, or restriction(a)relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded in the Public Records at Date of Policy and is not excepted in Schedule B. 4. Any charges or assessments provided for in the condominium statutes and condominium documents due and unpaid at Date of Policy. 5. The failure of the unit and its common elements to be entitled by law to be assessed for real property taxes as a separate parcel. 6. Any obligation to remove any improvements that exist at Date of Policy because of any present encroachments or because of any future unintentional encroachment of the common elements upon any unit or of any unit upon the common elements or another unit. 7. The failure of the Title by reason of a right of first refusal to purchase the unit and its common elements which was exercised or could have been exercised at Date of Policy. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. COLO Form 110.3 (Rev.6-14-96) i Wart title guaranty company e c -?gwwxgnt!N Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: Senior Chairman of t e Board A orized Countersignature Stewart Title Aspen Division Chairman of the Board 620 East Hopkins Avenue ,� Q Aspen, Colorado 81611 Phone: 970-925-3577 970-925-3577 President Fax: 970-925-1384 Agent ID:0601]A Serial No. E-2190-9773920 ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 S iqr aranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 ALTA Endorsement 5.1-06 (Planned Unit Development) Revised 10/16/08 ENDORSEMENT Attached to Policy No. 0-9301-1724768 Issued by STEWART TITLE GUARANTY COMPANY The Company insures against loss or damage sustained by the Insured by reason of: 1. Present violations of any restrictive covenants referred to in Schedule B that restrict the use of the Land or the forfeiture or reversion of Title by reason of any provision contained in the restrictive covenants. As used in this paragraph 1, the words "restrictive covenants" do not refer to or include any covenant, condition, or restriction (a) relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded in the Public Records at Date of Policy and is not excepted in Schedule B. 2. Any charges or assessments in favor of any association of homeowners,that are provided for in any document referred to in Schedule B, due and unpaid at Date of Policy. 3. The enforced removal of any existing structure on the Land (other than a boundary wall or fence) because it encroaches onto adjoining land or onto any easements. 4. The failure of the Title by reason of a right of first refusal to purchase the Land that was exercised or could have been exercised at Date of Policy. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. COLO Form 110.3 (Rev. 6-14-96) Stewart title guaranty company 3y • h Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: Senior Chairman oft the Board 930orized Countersignature Stewart Title Aspen Division Chairman of the Board 620 East Hopkins Avenue Aspen,Colorado 81611 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID:06011A Serial No. E-2190-7429798 ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 *s ew r . title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 ALTA Endorsement 8.2-06 (Commercial Environmental Protection Lien) (10/16/08) ENDORSEMENT Attached to Policy No. o-9301-1724768 Issued by STEWART TITLE GUARANTY COMPANY The Company insures against loss or damage sustained by the Insured by reason of an environmental protection lien that, at Date of Policy, is recorded in the Public Records or filed in the records of the clerk of the United States district court for the district in which the Land is located, unless the environmental protection lien is set forth as an exception in Schedule B. This endorsement is made a part of the policy and is subject to all'of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: f Senior Chairman oft the Board A odztdComtersignature Stewart Title Aspen Division Chairman of the Board 620 East Hopkins Avenue Aspen,Colorado 81611 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID:06011A Serial No. E-2190-8793368 stewwt title guaranty company COLO Form 110.3 (Rev.6-14-96) ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 stewart. ►title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 ALTA Endorsement 9.2-06 (Restrictions, Encroachments, Minerals- Improved Land; Owner's) ENDORSEMENT Attached to Policy No. 0-9301-1724768 Issued by STEWART TITLE GUARANTY COMPANY The Company insures against loss or damage sustained by the Insured by reason of 1. The existence, at Date of Policy, of any of the following unless expressly excepted in Schedule B: a. Present violations on the Land of any enforceable covenants, conditions, or restrictions, or any existing improvements on the Land that violate any building setback lines shown on a plat of subdivision recorded or filed in the Public Records. b. Any instrument referred to in Schedule B as containing covenants,conditions, or restrictions on the Land that, in addition, (i) establishes an easement on the Land, (ii) provides for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or occupant, or(iii) provides a right of reentry, possibility of reverter, or right of forfeiture because of violations on the Land of any enforceable covenants, conditions, or restrictions. c. Any encroachment of existing improvements located on the Land onto adjoining land, or any encroachment onto the Land of existing improvements located on adjoining land. d. Any encroachment of existing improvements located on the Land onto that portion of the Land subject to any easement excepted in Schedule B. e. Any notices of violation of covenants,conditions,or restrictions relating to environmental protection recorded or filed in the Public Records. 2. Damage to existing buildings: a. That are located on or encroach upon that portion of the Land subject to any easement excepted in Schedule B, which damage results from the exercise of the right to maintain the easement for the purpose for which it was granted or reserved; b. Resulting from the future exercise of any right existing at Date of Policy to use the surface of the Land for the extraction or development of minerals excepted from the description of the Land or excepted in Schedule B. 3. Any final court order or judgment requiring the removal from any land adjoining the Land of any encroachment, other than fences, landscaping, or driveways, excepted in Schedule B. 4. Any final court order or judgment denying the right to maintain any existing building on the Land because of any violation of covenants, conditions, or restrictions, or building setback lines shown on a plat of subdivision recorded or filed in the Public Records., Wherever in this endorsement the words "covenants, conditions, or restrictions" appear, they shall not be deemed to refer to or include the terms, covenants, conditions, or limitations contained in an instrument creating a lease. As used in paragraphs La. and 4, the words "covenants, conditions, or restrictions" do not include any covenants, conditions, or restrictions (a) relating to obligations of any type to perform maintenance, repair, or COLO Form 110.3 (Rev.6-14-96 remediation on the Land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded or filed in the Public Records at Date of Policy and is not excepted in Schedule B. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. stewart title guaranty company e���pAPOk,��N 7 9*.8 *;off Signed under seal for the Company,but this endorsement is KrOnly when it bears an authorized countersignature. Countersigned: A orized Couttlersigaature Senior Chairman oft the Board Stewart Title Aspen Division *Ch.,,...of the Board 620 East Hopkins Avenue Aspen,Colorado 81611 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID: 06011A Serial No. E-2190-6641638 ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 Fstewart. title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 STG Patent Endorsement 1 ENDORSEMENT Attached To and Made a Part of Policy No. 0-9301-1724768 Issued By STEWART TITLE GUARANTY COMPANY The provisions of said policy are hereby modified and amended as of the date hereof as to the following matters and none other: The Company hereby insures the Insured against loss or damage, other than from claim(s) of unmarketability, by reason of the exercise of the following reservations contained in the Patent to said land as in No. 9 under Schedule B Part 1 The right to ditches and reservoirs used in connection with such water rights as may be recognized and acknowledged by the local customs, laws and decisions of courts, and also subject to the right of the proprietor of a vein or lode to extract and remove his ore therefrom, should the same be found to penetrate or intersect the premises hereby granted, as provided by law, and there is reserved from the lands hereby granted, a right of way thereon for ditches or canals constructed by the authority of the United States of America, recorded April 4, 1884 in Book 11 at Page 45. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. COLO Form 110.3 (Rev.6-14-96) i �stewart title guaranty company RI�kc 6•,; 8 raiax�n_,. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned:"Commle-tsignature Senior Chairman oft a Board A orizefl Stewart Title Aspen Division Chairman of the Board 620 East Hopkins Avenue Aspen,Colorado 81611 2&e-14 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID:06011A Serial No. E-2190-4761516 "f- ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 s rt. title guaranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 The Company hereby insures the Insured: That said land abuts upon a physically open streets known as: Monarch and South Mill and the Company hereby insures said Insured against loss which said Insured shall sustain in the event said assurance herein shall prove to be incorrect. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: 5tewarat title guaranty company / �'• - Senior Chairman of the Board Ayftnzed Couatersigoature Stewart flile LpRPOgr 1y�, Aspen Division � t g,p g qo� Chairman of the Board 620 East Hopkins Avenuep*� Aspen,Colorado 81611 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID:06011 A Serial No. E-2139-2970896 CO Form 103.7 Physically Open Street Endorsement ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE SERIAL NUMBER 0-9301-1724768 stq rm aranty company HEREIN CALLED THE COMPANY Order Number: 23256--C8 Charge: $0.00 CLTA Property Description Same as Survey Endorsement 116.1 ENDORSEMENT Attached to Policy No.0-9301-1724768 Issued by STEWART TITLE GUARANTY COMPANY HEREIN CALLED THE COMPANY The Company hereby insures the insured against loss or damage which the insured shall sustain by reason of the failure of the land to be the same as that delineated on the plat of a survey made by C.C.S. Consultants Inc., on September 15, 2010 designated Job No. 04-2010 a copy of which is attached hereto and made a part hereof. This endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it increase the face amount thereof. Signed under seal for the Company,but this endorsement is to be valid only when it bears an authorized countersignature. Countersigned: Senior Chairman oft a Board A orized Countersignature Stewart Title Aspen Division Chairman of the Board 620 East Hopkins Avenue Aspen,Colorado 81611 Phone: 970-925-3577 President Fax: 970-925-1384 Agent ID: 06011 A tewart w 1908:` o COLO Form 110.3 (Rev. 6-14-96) ALTAIACSM LAND TITLE SURVEY OF LOT 1,ASPEN MOUNTAIN SUBDIVISION AND PLANNED UNIT DEVELOPMENT CITY OF ASPEN,COUNTY OF PITKIN,STATE OF COLORADO NE I.I.B."EMS,DESCAP1CNS ON IIN&,S DE NWN DR PAAnALLV ANN OR GOBJEC, - - - - Ar PERSONS AND B"THEIIf�BE�SLBJF¶1 1 ME m PRONE.,CO14N4NGL CON n� MEI.. S>5�11' NA�AT llm.WDFA NNA�AONTUx CSE EiFEGnlf DAR N FI6A 2C 4 4ty SK[EI W xttu4a x,H Fp1ANNG,AV p NENMr GCNNUNtt NN3 - SPICE IN SPACE 9,RUTS r W x.4IN NSE XtAflq!DSN".GO AS,uW CIXE£CT,CO.WADOCRK,we.CONS, THE ME Aux"ICH T AcVI A"MDB IS I ME sswxc cno � nsrpNC Nsmm Rc4RVATCxs NA ElcEriaxs x PATEIIT$ON E MIREW,NCLpNNp ME�.BEENC ce,ANN W PAOPRETW E'A T U B LOGE N fE]RYCI AND ceNOK NS CAP IN -- AND WNEU E TO PwENAN W Ni[FSECT NE NDMARANRM.SW—HE ICAS UN,EST SUMS PARN,ER EASTED-11,.A N B.t A,PACE 65 WRANI 18 D.1EAMS AND CHI TEAS EE nSWMNB OE ED ECE DER ST'1975 I P AND \ / RFMYS INC xC REWROCD DFCFNBER 29,9 5 001(IN AT PAceEee. 12.Ay uATTptS CCNTANEII N TH OF AYEN CMNNANCE NO 1,SEAES CE 905 RE[gIXD JUNE �^ /., 26 t9B8 N E.18B Ai PA(T 1]. \� GRAPHIC SCALE ucamm AxD ANTg wer 6rsevAxAN uu ND PABMwsxP TO uwnrux mN]r ENrtAPAms t 46 EASEMENT TOA@A4 9 n RWN IN AT Pea BI AS RECIPNON NO 315791 DEEP BUTS] �9�IIIIIIIII� 14[IN UPEA_rY.,.F, x n All DDwimNq T�N CITY UP ASRN nECwxm"naxw! 11 nCDY MAP [t3a1P oATE rea20 D AI P AM AtT1,1-N-17 A PAGE I5A, IPPEND SfITEY6fR 5 PLANNED- 5G w n1 -i .992 x BWN 609 A III! 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LOT NCPE PMTC"UALY CESCNBED 0.S FIXLONSENN e THE RATS RECCMED BASIN ENTS RECWDED J"LI ,PACET PS AF<WmED CaFMeER 2N,1990 N PLAT BOOR 25 AT PACT 49.Ff 92 N PIA DOIN 29 AT PACT 71 AND PECOADED NENa Ox6 AEBASAHI G'EMY INEx 45�9'OFASOF sPEE, fEBPUARY SITE ANC M NWME4Lr Lce CE JUN ATA A MF NCNNEAST CWNER W SAD LIT I 11"1 11 111 1 11UTI11 AD OF DURANT AHNUE WA ALL BEANNCS CCARECUP NERDS - MATIENS SHORN ON THE PLAT W THE ASPEN AESUENGE CLAN NA ECTEL COXESTABR u MAP REARED AUE�l lxE 5 Rv9��'E 2A ALO AND N RAT PON 1 AT AR N. C THEETUR AID S.,NENCE ALONG SAC MES,fRLY END ME IO20NSG NRp(5)ACRNDESE KSMALr uHEECCfSWM MLL SIxEET. - 20 P—VN i DEVfIDPNENi/SUBD'NSM AGARNENT RECCINFO JAxuARY 15 1118 AS REESPICN 0.11, 5 1613 Eta U ASE BE (I AI ASPEN DEAN STREET LLD AND vpaSTR AN P6 E CORPORATION RECWND A S 4 z.THEN l W wI3 i / - � � NOtENBEN 3 1999 AS AECEPnOH 10.437361. 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J uw.,m P.w�9sNP RECOTNEB sNUAAY x 2m AS RECCPncx NO 451CK6 NICE ALY AS IsmPC TO '2 PUT N NE PONT W SIANNC I.TANNG P96 } 9s0 A S u ( - 23 O EDRAACN AND,,.1 A PEC O[NEAS D.AWN RESIDENTS 0.08 AND HCICL CpA(1NNIN ' RECUMn JAxuMr zl zWS AS REC[PICN Na sW2]G PRE SEAT SAINT OACEN WMBa 21.56 s PRPMF➢BY STCxART nm 6TECNK ASEEN PLANNING AND SPRING CONUSSON RESCWnCN NO 6 SENES a SAT5,APPpOSIG A PU.WID DE DAM JULY 26ER20 C Ai BOOAN - SOT�REELWNENI ANENDNFNI TO ME SI.REDIS XOm REGOAD[D RBN"ATI 26 2AD AS BECEPnpI 1359.NE AWUE ENCEPnOt6 APPLY TO BON HOTEL AND SCANaDN UNITS - - R AND Access ACNEEMENT PENN RESDEENCE aW AND NOm COxnCN N ANl m uNI�N uNT 3 RECamm Jnxunxr z3 zoDS As RECEPn Cx NO 5C62w APPLIES TO ME NOTEI BUT CINDY AID AEwvWNW au9 AxD xom mDDCUmuu 'I AN'ANN ALL Ev TO ME PLAT RECamm JNUnur 2,2m D ,x smc LEASES AID,ENAxc a,Awua TO HDML AND caxERrAN ux,s TAS umxm AND of—BID x ME oECURnnPOn"�aa 1.a x"e NATEIMATY�u AID DBa �NUU AECDRDm NANLAer z.INS As Bfcwnex ND COUNTY W IRAN srz a cWAOO N NON Au HMCo IS TINY 11 TO 11 1111"TIN A I III PAYS C THI OA09ICO2I3 C iANEL o]W PLCNNC 1,i90]. 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