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HomeMy WebLinkAboutLanduse Case.CO.1010 E Hyman Ave.A21-93 ry.)(V - i.)\'( X~), ; ~cit't\ /v-.(.. _M' .' ;\',",,1.L'<, :.\,:<0" .J : j.'f ,"'II} ,.' '\i'- \ (I' ij -i;--i\)\o .\ r- l^'" '< ~'\\ \ v" \ ' \,rd' ('\ r\ ~ CASELOAD SUMMARY SHEET " city of Aspen' DATE RECEIVED: 04106/93 PARCEL kD AND CASE DATE COMPLETE: ~ ti 2737-181-11-001 I STAFF MEMBER: PROJECT NAME: pine Glen Townhomes Condominiumization Project Address: 1010/1014 E. Hvman Ave. LeglH Address: Lots N & O. Block 33. East Aspen Subdivision NO. A21-93 ' KJ APPLICANT: David Muckenhirn & Applicant Address: Box 8353 REPRESENTATIVE: Aspen. CO Representative Address/Phone: William Evans 81612 925-8889 Aspen. CO 81611 -------------------------------------------------------------- -------------------------------------------------------------- FEES: PLANNING $ 942.00 # APPS RECEIVED _L- ENGINEER $ # PLATS RECEIVED 3 HOUSING $ ENV. HEALTH $ TOTAL $ 942.00 TYPE OF APPLICATION: STAFF APPROVAL: 1 STEP: -X-2 STEP: P&Z Meeting Date PUBLIC HEARING: YES VESTED RIGHTS: YES NO NO CC Meeting Date 5'/;0 , PUBLIC HEARING: YES ~~) VESTED RIGHTS: YES NO DRC Meeting Date ~' --------------------------------------------------------------- --------------------------------------------------------------- REFERRALS: City Attorney City Engineer Housing Dir. Aspen Water' city Electric Envir.Hlth. Zoning School District Rocky Mtn NatGas CDOT Clean Air Board Open Space Board Other Other Parks Dept. Bldg Inspector Fire Marshal Holy Cross Mtn. Bell ACSD E,!lergy Center x INITIALS: <w I I/-) -, DUE: 71 ~-:;. DATE REFERRED: ~/f1 ================d=======================================b======= FINAL ROU'l'ING: DATE ROUTED: INITIAL: _ City Atty _ Housing _ City Engineer _Zoning _Env. Health _ Open Space other: FILE STATUS AND LOCATION: r\ r-"" MEMORANDUM ~K~ 1t ~ ~V 9fJi ~(~ 'SIAifM, I\~ ("~ Director~'b\~J6-z 0 ~ P-f" ~ '5,'0 1r \ FROM: Mayor and City Council Amy Margerum, City Manager Diane Moore, City Planning Kim Johnson, Planning TO: THRU: THRU: DATE: May 24, 1993 RE: Pine Glen Townhomes Subdivision Condominiumization, Second Reading of Series of 1993 Exemption Ordinance for 26, ========~====~==---===--===================~====================== SUKKARY: The applicant seeks approval to condominiumize~ a new duplex nearing completion to 1010/1014 E. Hyman Ave. The Planning Office recommends approval of this request. Due to the, ongoing review of the condominium regulations, staff recommends that language be included in. the ordinance stating that certain risks are undertaken by the applicant in regards to anticipated text amendments, and that if adopted, these amendments may result in the lifting of requirements currently in place. city Council approved first reading of Ordinance 26 on May 10, 1993. BACKGROUND: The Colorado State Legislature adopted legislation on July 1, 1992, that may affect the affordable housing mitigation criteria contained within Aspen's condominiumization regulations. Until Council approves text amendments to the Municipal Code, it is the opinion of the City Attorney that the condominiumization regulations in place wi thin Aspen's Municipal Code are fully enforceable. Therefore, the condominiumization of these residential units has been reviewed pursuant to existing Section 24-7-1007. CURRENT rSSUES: Referral Comments: Enqineerinq: Having reviewed the above application, and having made a site inspection, the Engineering Department has the following comments: 1. storm Runoff - The applicant has previously submitted a storm runoff plan prepared, by a registered engineer and meeting Code requirements. 2. Final Plat - The final plat must meet the requirements of Section 24-7-1004.0. The applicant has submitted a draft plat to the Engineering Department. The draft indicates an easement for an electric transformer. The applicant haS agreed to add a 4'x4' easement for utility pedestals. The parking spaces and dimensions r- ~ will be shown. An on-site trash storage area must be indicated. 3. Sidewalk. Curb & Gutter - The applicant has agreed to install sidewalk, curb and gutter to connect existing sidewalk, curb and gutter on both sides of the property. If this is not done prior to signing the plat or prior to final inspection, the applicant will have to provide an estimate for the work and financial assurances. 4. Given' the continuous problems of unapproved work and development in public rights-of-way, we advise the applicant as follows: The applicant shall consult city engineering (920-5080) for design considerations of development within public rights-of;"way, parks department (920-5120) for vegetation species, and shall obtain permits for any work or development, including landscaping, within public rights- of-way from city streets department (920-5130). 5. The applicant shall agree to join any future improvement dis- tricts which may be formed for the purpose of constructing improvements in the public right-of-way. Review Standards: Pursuant to section 24-7-1007 condominiumization is exempt from the full Subdivision process and shall be reviewed by the Council. As indicated above, residential units are still subject to the criteria of section 24-1-1007.A.1., listed below. a. Existing tenants must be notified that the units are for sale. The building is currently under construction so this requirement does not apply. b. Minimum Lease. In the R-MF (Residential MUlti-Family) district, minimum lease periods shall be restricted to six minimum leases, with no more than two shorter tenancies per The applicant acknowledges this restriction. c. Affordable Housing Impact Fee. The applicant has included within each half of the duplex a deed restricted accessory dwelling unit as required for duplexes in the R-MF zone. Therefore, affordable housing mitigation has already been accomplished. zone month year. d. Inspection of the proposed condominium by the Building Department. The Building Department shall inspect the building prior to issuing certificates of Occupancy. ------------------------------- RECOMMENDATION: Staff recommends approval of condominiumization of the Pine Glen Townhomes at 1010/1014 E. Hyman Ave. with the 2 ,~, ,........" following conditions: 1. The applicant is required to submit a Final Plat on reproducible mylar for approval by the Planning Director and City Engineering and record the plat with the Pitkin county Clerk and Recorder. It is recommended that a blueline print be submitted for review prior to the final submission. 2. If prior to signing the plat or prior to final inspection, the applicant has not installed sidewalk, curb and qutter to connect to the existing sidewalk, curb and gutter on both sides of the property, the applicant will have to provide an estimate for the work and financial assurances in a form satisfactory to the City Attorney and City Engineer. 3. A Subdivision Exemption Agreement shall be submitted and filed concurrently with the Condominium Plat. . 4. The applicant shall agree to join any future improvement dis- tricts which may be formed for the purpose of constructing improvements in the public right-of-way. 5. All material representations made by the applicant in the application and during public meetings with the city Council shall be adhered to and considered conditions of approval, unless otherwise amended by other conditions. PROPOSED MOTiON: "I move to approve second reading of Ordinance 26, 1993 approving condominiumization of the pine Glen Townhomes at 1010/1014 E. Hyman Ave." CiTY MANAGER COMMENTS: Attachments: Proposed Condominium Plat Ordinance No. 26, 1993 3 @l ',:::::, z "', :Ii -= J..i.. ~" CONDOMINIUMS CHAUMONT OUMONT l's"21 ~ ,@.i '~ .,.,., ...,' . . : 1 CHAfEAU BLANC Ulil~'''("5 HI!' Do...... I - f.,.: SlciMart U) I -J The8utcher'S ~ JovrdeF40" ~~:'l Blo<;:kafAspen ;r; O~r.nISt. a,ogS/lOP@ "' ~ "- 18 U) ~ '" Jc-a"H~":1b:'~~ CItyMnet ~ ThSlMkPlt UJ (relocM>rogst>t''''lltsummer'93l E. COOPER AVE. "..., OUCKHOAW U>OGE ~' -liii' ~ IfGl' ' @W (. HjP1:;J A.~"..""",,", AspenF.mll~~...,tk: &SpoftsOrt~ic:s COlltu.l'lel<l,6W111dfOn """m"At;;i~ ~~. f-.,: (f) -.I ~ <3 0: o E.:'OO's ~ ~ leTW& I~: .- CH4'TEAU ASPEN ~ . ~ ~ #~ tJJ'l) r: tl.~~"I'~ _...~ &~~ I "".......... L--....o~s~~ E. H'r THEPATIOBl.DG M~Me...MarlHII~; SaMv'S()fl\USuppIy 'n-<II( ~ A;Iot~.... @f: ; fM.-:j m;~ -- '" .....olAspon_t.1< f-.,: (f) o ~ g: (f) cr.i l~~ ~ ~g ~:;~rj. Aapen~-= ~~~,~ ~~~---t:J ~ ~ f;: l' . ~l E. BLEEKER 57' li.II'I\\~ .<t' .....,(. ;.:.;;,," . \. -N t s .. ,-, fOUND; ~[8AR WI PLAS. CAP lS 20151 ASSUMED fL.:: 100.00 i , FOUNOltTlON --,-~~l~----- r ij AlLlllEY B IL O~~ I 33 575009' II"" 60,00 , W6-::.T OIV IT~ l-IM I TEl:> c:::.OMMoN e.o...& M o;:.NTS -~ "0 ., ... '" . .. 4~~ oc::dMMc::.~ . e'L..E.M~o .. . .. o.S'. 6, "0 ., .. 17'0 22.08 11.0 0-'83 fl'ART'f WALL .. ... I i , g 9 o o 0-6 '" '", q- o '" o ::: z , ': ... .. .. .. . II ,.- t--- ..t. 1.35 ---t .. ,:. .. .. b.!f', ~ ,0 ~ 2.'l'-~" FLO, 5'~-80 N 7,5009',,' N (;0,00 feAST HYMAN ., fEAA~' , EA~T UNIT:. /.-11l\1T'El:> Ce>MMolo.,) ~e...MeIUT oS - .. 17.0 ,. 0 3,5 .. .. ... ;0 .. ~i:i .. c .. 0 !i 0 6 0 ... .. .. .. ~ '" ~ '0 '" o ~ '" .o.l.. >::,- ,,,",'1 22.08 7.9'. 30'-<'. t-JtJt KE8: .LS 2 A V IE ~ ,/"",\ MEMORANDUM ~-- To: Kim Johnson, Planning Office From: Chuck Roth, City Engineer c...12- Date: April 29, 1993 Re: Pine Glen Townhouses Condominiumization Having reviewed the above referenced application, the Engineering Department has the following comments: 1. Storm Runoff - The applicant has previously submitted a storm runoff plan prepared by a registered engineer and meeting Code requirements. 2, Final Plat - The final plat must meet the requirements of Section 24-7-1004.D, The applicant has submitted a draft plat to the Engineering Department. The draft indicates an easement for an electric transformer. The applicant has agreed to add a 4'x4' easement for utility pedestals. The parking spaces and dimensions will be shown, An on- site trash storage area must be indicated, 3, Sidewalk, Curb & Gutter - The applicant has agreed to install sidewalk, curb and gutter to connect existing sidewalk, curb and gutter on both sides of the property, If this is not done prior to signing the plat or prior to final inspection, the applicant will have to provide an estimate for the work and financial assurances, 4, Given the continuous problems of unapproved work and development in public rights- of-way, we advise the applicant as follows: The applicant shall consult city engineering (920-5080) for design considerations of development within public rights-of-way, parks department (920-5120) for vegetation species, and shall obtain permits for any work or development, including landscaping, within public rights-of-way from city streets department (920-5130). 5, The applicant shall agree to join any future improvement districts which may be formed for the purpose of constructing improvements in the public right-of-way, cc: Bob Gish, Public Works Director M93.12$ ~ ,~ .A'l':mffiMENr 1 lAND USE APPLICATICN FORM Pmject~PINE qL~.J-J !DWiJ'UOME:::' Project IDeation 10104 16'4 G, H"f'MAN Ave:; A"5Pe:.r--J. Co La.,- '",$ N ri:\ 0 , '1"'> L~- =.,:::, ~"r -A. ~~ ;::,c.;l a (.imicate ",l...-=t aiIdl:essi 10t & bl.ock lIlDIi:ler, 1egal. description Where " _Ul'Llate) 3) Present Zoning 'R. M F" 4) IDt size Ct.:-Ooo 5) A{:plk'ant's Name, 1!ddl:ess & IbcxIe f -:DAV I D M<...lCJ<.e:A..lH IRt-l s:#. WILUAM EVAIo..):!. 'Bo)(:. 6':3>53 A ~Pe:....J Co 61(0 I~ -z,77 IOlT I " 1) 2) 6) Rqu.:scntative's Name, 1!ddl:ess & IbcxIe f "S-A N'l e: , 7) 'lYPe. of AJ;plication (p1ease dJeok all ~ awl-y): axnitiona1 Use _ 0:mcept:ua1 SPA Fina1 SPA M:mItain view Plane . SUbdivision . _ 0:mcept:ua1 Historic Dev. _ Fina1 HistoricDev. _ MiJlor Hist:o.ri.c Dev. _ Hist:o.ri.c Deonlition _ Historic Designation _ ~;"l Rev:i..ew 8040 GJ:eenline _ 0:mcept:ua1 roD Final. roo .', _ Sb:eam MaJ:gin -X ~tion '_ Text,IMap ~ _ IDt SplitjIot Line Adju..Luc.tt ~ QQS AllobDent - QQS ExaIpt:i.orJ. 8) DE=::ription of Exi.st:i.n] Uses(nmiJer ani type of existin.J sb:ucblres; ~ sq. ft, ;J1Imh>l:" of h."k~; any previaJs awrovaI.s _ granted 'to the pl:qlerty) . "buPL-e:x. - WESo"r UI--J tT HA-s. 2. bEJ.)eooM~ "Pw..:>::, 14A) ADu I EAs.r (..)IU IT HA"5, 3 .B6DRcoM-s PLus ! .At^-> ADo, 'Tf+,;;: Al=>P/<.C>uesD ADus.P-R.E.. D=ec Re-s. -r-e.l C-'t"E:~ Pis K <::..0 D '=- . 9) Description of Deve1~.t A{:pUca.tion . '"""Dc> 'P~"Y:. 'J::>E"5C.R I f.:>sC '/0 f'>I'<-R..A B I ~ :p R.ES6\.J'Tl....:'e t..:)iJ~ CoIJSTR.OC710/'..J. 10) Have ycu attached the follCMi.rq? Yi;?S Response 'to Atta.c::tmert: 2, Mini.nDm Snhnkc;:;ClI1 Contents Ye..5 Response 'to Atta.c::tmert: 3, Specific Sl,hn;=ion Contents r'~6 Response to Atta.c::tmert: 4, Review St:aIrlards for Your A{:plication 1"""', ,~ t' ~_,., William Evans David Muckenhirn 303-925-8889 P.O~' Box 8353 Aspen, CO 81612 "771 !077 April 3, 1993 ~. Kim Johnson Planning and zoning Department City of Aspen 130 S. Galena Street Aspen, CO 81611 Dear Kim: We, William Evans and David Muckenhirn, herein apply for condominiumization of our pine Glen Townhome Duplex. In response to the development application package's Submission Contents for All Development Applications, the information requested for items land 2 is provided in Attachment 1. Item 3, ownership disclosure, and Item 4, a vicinity map, you will find attached. Item 5, a written description of the proposal and an compliance with the relevant review standards attachment 4, is discussed as follows. We, the applicants are in the process of constructing a townhome duplex as defined by the attached planset. The west unit has three bedrooms plus its ADU. The east unit has two bedrooms plus its ADU. Each unit has three parking places plus one for each ADU. As a zoning requirement for a RMF Zone, and under the direction of and in cooperation with the Aspen Planning Department, we have deed. restricted a 320 square foot accessory dwelling unit (ADU) for each unit of the duplex. Additionally, we have provided the two ADU's in order to fulfill the affordable housing impact fee requirement. As there are no existing tenants, the ninety (90) day tenant purchase option requirement is not applicable. We understand that the City is still requiring a six (6) months minimum lease with not more than two (2) shorter tenancies per year, until the City has an opportunity to amend its code to bring it into compliance with the recently enacted state law. We agree to so restrict our units with the' understanding that we would be eligible for any new City code changes regarding the minimum lease requirement. ' explanation of described in /"""'- t""'., ~.. ~.. April 3, 1993 Ms. Kim Johnson Page Two In response to Attachment 3, Item 1, an improvement survey of the property is attached. Letters (a) and (b) of item 2 are addressed in our response to attachment 2. Regarding Letter (c) of Item 2, the two ADU's provide an opportunity for additional employee housing. We do not perceive the project as impacting the Affordable Housing program at all. The review standards described in Attachment 4 are addressedin.our response to Attachment 2. Sununary of Attached Items: 1. ) Attachment 1. 2.) Title insurance policy. 3. ) vicinity map. 4.) Planset. , 5. ) Improvement Survey. . b.) a eode.<=Il'"Zi'V'dl-epl"at'\ please do not hesitate to contact us should you have any questions or find our application deficient in any way. Sinc7flY'j' t1l~' '//(itcy~."l___l David Muckenhirn .. ,1"""\ Commonwealth~ Land Title Insurance Company , COMMITMENT FOa,TITLE INSulUlNCE SCHEDULE A ,~\ ., . 1. Effective Date: 03/01/93 at 08:30 JI_.M. 2. Policy or policies to be issued: Case No. PCT-7142M (a) ALTA Owner's Policy-Form B-1970 (Rev. 10-17-70 & 10-17-84 or 10-21-87) Proposed Insured: AmountS PremiumS (b) ALTA Loan Policy, (Rev, 10-21-87) Proposed Insured: GEORGE W. BARTLETT AmountS 250,000.00 PremiumS 421.50 Tax Cert. S 20.00 3. Title to the FEE SIMPLE estate or interest in the land described or referred to in this Co~mitment is at the effective date hereof vested in: DAVID MUCKENHIRN and WILLIAM L. EVANS JR. 4. The land referred to in this Commitm~nt is described as follows: LOTS N A-~D 0, BLOCK 33, EAST ASPEN ADDITIONAL TOWNSITE. COUNTY OF PITKIN, STATE OF COLORADO. counte!signed at,: PITKIN COUNTY TITLE, 601 E. HOPKINS ASPEN, CO. 81611 303-925-1766 Fax 303-925-6527 INC. Schedule A-PG.l This Commitment is invalid unless the Insuring provisions and Schedules A and B are attached. Authorized officer or agent ~~;J~~'i! Ft'V~~ ~ 1~)(' .~ Commonwnth", Land Title Insurance Company,_ SCHEDULE B - SECTION 1 REQUIREMENTS '-", " The following are the requirements to be complied with: ITEM (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. ITEM (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record to-wit: 1. Deed of Trust from: David Muckenhirn and William L. Evans, Jr. to the Public Trustee of the County of Pitkin for the use of George W. Bartlett to secure : $250,000.00 Form 4100 " . ,fa ~ Common~alth~ Land Title Insurance Company.. SCHEDULE B SECTION 2 EXCEPTIONS ,-" . The policy or policies to be issued will contain exceptions to the following unless the S&"'lle are disposed of to the satisfaction of the Company: 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, enchroachments, any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. ~~y 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. Taxes due and payable; and any tax, special assessment, charge or lien imposed for water or sewer service or for any other special taxing district. 7. Right of way for ditches or canals constructed by the authority of the United States as reserved in Patent recorded in Book 185 at Page 69. 8. All matters as set forth in Accessory Dwelling unit Deed Restriction recorded September ll, 1992 in Book 688 at Page 478. 9. Deed of Trust from : David Muckenhirn and william L. Evans, Jr. To the Public Trustee of the County of Pitkin For the use of Pitkin County Bank & Trust Co. To secure $945,000.00 Dated September 9, 1992 Recorded September 10, 1992 in Book 688 at page 385 Reception No. : 348495 Assigr.ment of Rents and Leases given in connection with the above Deed of Trust recorded September 10, 1992 in Book 688 at Page 387. Th1s co~itment is invalid unless the Insuring provisions and Schedules A and B are attached. Schedule B-Section 2 Commitment No. PCT-7142M form 4100 ~/ . "-'" ~. . Commitment For Tide Insurance Commonwealth Land Title Insurance Company, a Pennsylvania corporation, haein called the company, for a valuable con- sideration,hereby 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 covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subjeclto the provisions of Schedules A and B and to !be Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of !be policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the lime of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and tenninate 120 days after the effective date hereof or when the policy or policies committed for shall be issued, whichever first occurs, provided that the failure to issue such po!k:y or policies is not the fault of the company, IN WITNESS WHEREOF, the said Company has caused its Corporate Name and Seal to be hereunto affIxed; this instrument, inc1udingCommitment, Conditions and Stipulations attached) to become valid when countersigned by ,an Authorized Officer or Agent of the Company. COMMONWEALTH LAND TITLE INSURANCE COMPANY A~"r IN ir..J, ., p.; ~ ~, Conditions and Stipulations I, The tem 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 the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any oct 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 o!berwise acquires actualknowJedge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment *ccordingly, 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 deftnition 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) 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 lite herehy incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4, Any action or actions or rig!,ts of action that !be 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 01 this Commitment, I ~. ~ ~, PAS American lJL,d Tille Association Comm~ment - 1966 Cowr Pllg. Form 1004-8 /, #~58'06 07/~~3 15:42 Rec $135.00 BK 7c-!PG 568 l:3':.!:\o'~~_ Da v~=~p it lei n Cn_t y _~_1",1=~~(:l:=_!_:_(Il? ___ CONDOMINIUM DECLARATION 7/ b FOR THE PINE GLEN TOWNHOUSES CONDOMINIUMS KNOW ALL MEN BY THESE PRESENTS: WHEREAS, DAVID MUCKENHIRN and WILLIAM L. EVANS, JR. hereinafter collectively called the "Declarant", are the owners of the following described real property situated in the City of Aspen, County of Pitkin, State of Colorado: Lots Nand 0, Block 33, Townsite, also known Avenue, Aspen, County Colorado, 81611. East Aspen Additional as 1010 East Hyman of Pitkin, State of WHEREAS, Declarant desires to establish a condominium project under the Common Interest Ownership Act of the State of Colorado; and WHEREAS, there is currently constructed on said real property improvements consisting of one (1) duplex structure containing two (2) separately designated residential condominium units; and WHEREAS, Declarant does hereby establish a plan for the ownership in fee simple of the condominium estates subject to the easements, restrictions, reservations, rights-of~way, conditions, taxes and assessments of record and reservations in this Declaration, consisting of the area or space contained in each of the air space units located in the building improvements, and the co-ownership by the individual and separate Owners thereof as tenants-in-common of all of the remaining property (except such property as is otherwise reserved herein), which property is hereinafter defined and referred to as the General Common Elements; and NOW, THEREFORE, Declarant does hereby publish and declare that the following terms, covenants, conditions, easements, restrictions, uses, limitations and obligations shall be deemed to run with the land, shall be a burden and benefit to Declarant, Declarant's heirs, personal representatives, successors and assigns, and any persons acquiring or owning interest in the real property improvements, their grantees, successors, heirs, executors, administrators, devisees or assigns, and the name of the Condominium herein created shall be The Pine Glen Townhouses Condominiums. 1. Definitions. The following definitions shall apply unless the context expressly provides otherwise. a. "Articles" means the Articles of Incorporation of the Association. b. "Association" means The Pine Glen Townhouses Condominium Association, Inc., a nonprofit corporation organized under the laws of the State of Colorado, of which both Owners of the two Units shall be members, and which shall be charged with the management and maintenance of the Common Interest Community. c. "Board of Directors" or "Board" means the governing body of the Association. "'--.. d. "Bylaws" means the Bylaws of the Association. e. "Building" means the building improvements comprising a part of the Common Interest Community. f. "Common Expenses" means and includes: ',., (1) all sums lawfully assessed against the Owners by the Board, as hereinafter defined; . , #358406 07/(("''13 15:42 Rec: $135.00 BK 70'8 569 Sllvla Davis;-Pitkin Cnty Clerk, Doc: $.00 (2) expenses of administration, maintenance, repair or replacement of the General Common Elements, as hereinafter defined; (3) expenses declared common expenses by provisions of this Declaration and the Bylaws; and (4) expenses agreed on as common expenses by a vote of the Owners representing an aggregate ownership interest of all of the General Common Elements. title in General Elements g. "Condominium Unit" means the fee simple interest and to a Unit, together with the undivided interest in the Common Elements, and the appurtenant Limited Common thereto. h. "Declarant" means the Declarant named herein, and such successor or successors as may be designated hereafter by Declarant by written notice duly recorded. i. "Declaration" means this Declaration, together with any supplement or amendment hereto, recorded in the office of the Clerk and Recorder of Pitkin County, Colorado. j. "General Common Elements" means all of the Common Interest Community, as hereinafter defined, except the portions thereof which constitute Units, and also means all parts of a building or any facilities, improvements and fixtures which may be within a Unit which are or may be necessary or convenient to the support, existence, use, occupation, operation, maintenance, repair or safety of a building, or any part thereof, or any other Unit therein. without limiting the generality of the foregoing, the following shall constitute General Common Elements: ' (1) all of the land and easements which are part of the property, and all facilities designated as General Common Elements on the Condominium Map; (2) all foundations, columns, girders, beams and supports of a building; (3) all deck or yard areas, porches, storage lockers or areas, balconies, patios, fireplaces, doors, windows, and parking spaces (subject to specific designations for individual Owner use as Limited Common Elements, as may be hereinafter defined and provided); (4) the exterior walls of the building, the main or bearing walls within the building, the main or bearing subflooring, and the roofs of the building; (5) all utility, service and maintenance rooms, space, fixtures, apparatus, installations and central facilities for power, light, gas, telephone, television, hot water, cold water, heating, snowmelt systems, refrigeration, air conditioning, trash incineration or similar utility, service or maintenance purposes, including furnaces, tanks, pumps, motors, fans, compressors, flues, vents, similar fixtures, apparatus, installations and facilities, sprinkler systems; and (6) all other Community used in common by the the Common Interest Community's parts of the Common Interest Owners, necessary or convenient to existence, maintenance and safety. k. "Limited Common Elements" means that portion of those General Common Elements which are reserved for the use of one Owner to the exclusion of the other, including and not limited to -2- '" ~;i~:~6~Q~~_/:f:~;;4~~;~C; c~~;;: o~o~Q,~~ PG 570 certain balconies, porches, patios, fireplaces, deck or yard areas, parking spaces, and storage lockers or areas. 1. "Guest" means any agent, employee, tenant, guest, licensee or invitee of an Owner. m. "Managing Agent" means the person employed by the Board to perform the management and operational functions of the Common Interest Community. n. "Map" means the Condominium Map referred to in Paragraph 2 below. o. "Mortgage" means any mortgage, deed of .trust, or other security instrument by which a Condominium Unit or any part thereof is encumbered. p. "Mortgagee" means any person named as the mortgagee or beneficiary under any mortgage by which the interest of any Owner is encumbered. q. "Owner" means the person or persons, as hereinafter defined, owning a Unit in fee simple, together with a fifty percent (50%) undivided interest in fee simple in the General Common Elements as established in this Declaration, including the Declarant, as long as any Condominium Unit, as hereinafter defined, is owned by Declarant. r. "Person" means an individual, corporation, partnership, association, trustee, or any other legal entity. s. "Common Interest Community" means real estate described in this Declaration with respect to which a Person, by virtue of such Person's ownership of a unit is obligated to pay for real estate taxes, insurance premiums, maintenance, or improvement of real estate described in this Declaration including all of the real property, both Condominium Units, building(s), fixtures. personal property and improvements submitted to this Declaration. t. "unit" means one (1) individual air space which is contained within the unfinished perimeter walls, floors, ceilings, windows and doors of each Unit as shown on the Condominium Map to be filed for record, together with all fixtures and improvements therein contained, and not including any structural components of the building or other General Common Elements, if any, located within the unit. 2. Map. There shall be filed for record in the office of the Clerk and Recorder of Pitkin County, Colorado, a map, hereinafter referred to as the "Map," which Map may be filed in whole or in part, depicting thereon: thereof; a. the legal description of the property and a survey b. Community; the name and general location of the Common Interest c. the linear measurements and location, with reference to the exterior boundaries of the land, of the building(s) and all improvements built on the land; d. floor plans and elevation plans of the building(s) showing the location, the designation and the linear dimensions of each Unit, and the designation of the Limited Common Elements; e. the elevations of the unfinished interior surfaces of the floor and ceilings as established from a datum plan, and the linear measurements showing the .thickness of the perimeter and common walls of the building. -3- ," #358406 ,1"'\1/93 '-', '. - . 15: 42 Rec $135.00 BI' / PG 571 SIlvIa DaVIS, Pitkin Cnty Clerk, Doc '$:G~ The Map and any suppl~ment(s) thereto shall contain the statements of: (1) the Declarant, submitting the property to the provisions of this Declaration; and (2) a registered land surveyor certifying that the Map fully and accurately depicts the layout, measurements and location of all of the building(s) and improvements, the Unit designations, the dimensions of such Units, and the elevations of the floors and ceilings. Declarant hereby reserves unto Declarant and the Board the right, from time to time, until the sale of a unit, to amend the Map and supplement(s) thereto, to conform the Map to the actual location of any of the constructed improvements, to establish, vacate and relocate utility easements, access road easements and parking spaces, and to establish certain General Common Elements as Limited Common Elements. In interpreting any and all provisions of this Declaration or the Bylaws, subsequent deeds to and/or mortgages of Condominium Units, the actual location if a unit shall be deemed conclusively to be the property intended to be conveyed, reserved or encumbered, notwithstanding any minor deviations from the location of such unit as indicated on the Map. 3. Division into units. Declarant does hereby submit the Common Interest Community to condominium ownership pursuant to the Colorado Common Interest Ownership Act, and the Common Interest Community is hereby divided into two (2) residential Condominium Units, each consisting of a separate fee simple estate in a particular unit, and an appurtenant undivided fee simple interest in the General Common Elements. The undivided interest in the General Common Elements appurtenant to a particular Unit is as is set forth on Exhibit "1" attached hereto and incorporated herein by this reference. 4. Limited Common Elements. Subject to the definition thereof, the Limited Common Elements shall be identified herein or on the Map, and designated as appurtenant to a particular Condominium unit herein or on the Map or in a deed from the Declarant. Any door, window, balcony, porch, patio, concrete walkway to a Unit, window well and the area dug out for the window well, railing, or fireplace which is accessible from, associated with and adjoins a Unit, deck and yard areas, parking spaces, driveways and storage lockers or areas identified as Limited Common Elements on the Map, and designated as appurtenant to a particular Condominium Unit, shall, without further reference thereto, be used in connection with the unit to which it is appurtenant to the exclusion of the use thereof by the other Owner, except by invitation. 5. Inseparabilitv of a Condominium Unit. An Owner's undivided interest in the General Common Elements, and in any appurtenant Limited Common Elements, shall not be separated from the Unit to which they are appurtenant, and shall be deemed to be conveyed or encumbered with the unit even though the interest is not expressly mentioned or described in a deed or other instrument. 6. Description of a Condominium unit. Every deed, lease, mortgage, trust deed, will or other instrument may legally describe a Condominium unit by its identifying unit location followed by the words "Castle Creek Townhomes, a Condominium," with reference to the recorded Declaration and Map. This description shall be deemed good and sufficient for all purposes to sell, convey, transfer, encumber, or otherwise affect not only the unit, but also the Common Elements appurtenant to that unit. This description shall be construed to include a non-exclusive easement for ingress and egress throughout the Common Elements appurtenant thereto to the exclusion of all third parties not lawfully entitled to use the same. 7. Title. A Condominium unit may be held and owned by more than one (1) person as joint tenants or as tenants in common, or in -4- #358406 07/~93 ~ S'l ... ' 15'4? R I via Davis' Pit,.' - ec $135.00 BK 716 PG - "In Cnty Clerk Doc '$.00 572 any real property tenancy or relationship recognized under the laws of the state of Colorado, or by any other legal entity under the laws of the state of Colorado. 8. No Partition. The Common Elements shall remain undivided, and no Owner or any other person shall bring any action for partition or division of the Common Elements. Similarly, no action shall be brought for the partition of a Unit between or among the Owners thereof. Each Owner expressly waives any and all such rights of partition an Owner might otherwise have by virtue of ownership of a Condominium Unit. A violation of this provision shall, entitle the Association to personally collect, jointly or severally, from the parties violating the same, actual attorneys' fees, costs and other damages the Association incurs in connection therewith. 9. Separate Taxation. Each Condominium unit shall be deemed to be a parcel, and shall be subject to separate assessment and taxation by each assessing unit and special ad valorem levies and special assessments. Neither the buildings, the property, nor any use of the General Common Elements shall be deemed to be a parcel. The lien for taxes assessed to any Condominium unit shall only be a lien confined to that unit. No forfeiture or sale of any unit for delinquent taxes, assessments or other governmental charges shall divest, or in any way affect, the title to any other Condominium Unit. In the event that such taxes or assessments for any year are not separately assessed to each Owner, and rather are assessed on the property as a whole, each Owner shall pay that Owner's proportionate share thereof in accordance with that Owner's ownership interest in the General Common Elements; and, in such event, such taxes or assessment shall be a common expense, without limiting the authority of the Board provided for elsewhere herein, the Board shall have the authority to collect from the Owners their proportionate share of taxes or assessments for any year in which taxes are assessed on the property as a whole. 10. Certain Work Prohibited. No Owner shall undertake any work in that Owner's Unit which would jeopardize the soundness or safety of the Common Interest Community, reduce the value thereof, or impair an easement or hereditament thereon or thereto; nor,shall any Owner enclose, by means of screening or otherwise, any balcony, yard, deck, patio or porch which is accessible from, associated with, and which adjoins a Unit, without having first obtained the prior written approval of the other Owner for such enclosure, and with respect to the materials, plans and specifications for such enclosure. Structural or cosmetic alterations shall not be made by an Owner to the exterior portions of that Owner's Unit, or to the building of which the Units are a part, or in the water, gas or steam pipes, electric conduits, plumbing or other fixtures connected therewith, except for the purposes of maintaining the Unit and keeping in good repair; nor shall an Owner remove any exterior additions, improvements or fixtures from the building of which the Units are a part without the prior written approval of the other Owner first having been obtained. No Owner shall make any alterations, changes or improvements to the Limited Common Elements appurtenant to that Owner's Unit, including without limitation, the exterior walls, doors and roof of that Owner's Unit, nor shall that Owner make any changes to the color and type of paint or other finishing material used thereon, fencing, landscaping, and permanent outdoor furniture or equipment, without the prior written consent of the Owner of the other Unit. The Owners of both Condominium Units must mutually agree to any changes in the color of the exterior paint on the Units. Furthermore, if one Unit is being painted, the other Unit must be painted at the same time. 11. Liens Aqainst Condominium Units -- Removal from Lien -- Effect of Part Payment. -5- ,,, #3"'8 - r, ,-, .w 406 Or! ,1/9315:42 Rae $135.00 Bl<i,_16 811 V~,,__D~Vi S_, _P~ t~,-i n_ Crl~!:.. _~~ e.r'~,-!___DtIC_ !-"(~O PG 573 a. No labor performed or materials furnished with the consent of or at the request of an Owner or agent of a Condominium Unit shall be the basis for the filing of a lien pursuant to law against the other Condominium Unit, or the Common Interest Community, or the other Owner not expressly consenting to or requesting the same, except that express consent shall be deemed to be given by the Owner of a Condominium Unit to the Managing Agent or the Board in the case of emergency repairs. Labor performed or materials furnished for the General Common Elements, if duly authorized by the Managing Agent or the Board of Directors in accordance with the Declaration or Bylaws, shall be deemed to be performed or furnished with the express consent of each owner, and shall be the basis for the filing of a lien pursuant to law against each of the Condominium Units in the Common Interest Community. b. In the event a lien is effected against both condominium Units, the Owners of the separate Condominium Units may remove their Condominium Units from the lien by payment of the fractional or proportionate amount attributable to the Condominium unit so affected. Individual payment shall be computed by reference to the percentages appearing in this Declaration. Subsequent to payment, discharge or other satisfaction, the Condominium,unit shall be released from the lien paid, satisfied or discharged. Partial payment, satisfaction or discharge shall not prevent the lienor from proceeding to enforce the lienor's rights against any Condominium Unit not so released or discharged. c. Each Owner shall indemnify and hold the other Owner harmless from and against liability or loss arising from the claim of any lien against the Condominium Unit or any part thereof that Owner for labor performed, or for materials furnished in work on such Owner's Condominium unit. At the written request of an Owner, the Association shall enforce such indemnity by collecting from the Owner of the Condominium Unit on which the labor was performed, or materials furnished, the amount necessary to discharge any such lien and all costs incidental thereto, including reasonable attorneys' fees. If not promptly paid, the Association may proceed to collect the same in the manner provided herein for collection of assessments for the purpose of discharging the lien. 12. Use and Occupancv of units. Each Owner shall be entitled to the exclusive ownership and possession of that Owner's Unit, subject to the restrictions and reservations contained in this Declaration. Each Condominium Unit shall be used and occupied solely for those purposes permitted by the zoning code of Aspen, Colorado. Leases on each Condominium Unit shall be restricted to terms of not less than six (6) months; provided, however, that each Condominium Unit may be leased for terms of less than six (6) months not more than two (2) times per year, as required by the city of Aspen. 13. Use of General and Limited Common Elements. Each Owner may use the General Common Elements and that Owner's appurtenant Limited Common Elements in accordance with the purpose for which they are intended without hindering or encroaching on the lawful rights of the other Owner. The Association may, from time to time, adopt rules and regulations governing the use of General and Limited Common Elements. Each owner, by the acceptance of that Owner's deed or other instrument of conveyance or assignment, agrees to accept and be bound, by any such adopted rules and regulations. Each Unit is further subject to the statement of Exemption from the Full Subdivision Process for the purpose of Condominiumization of an Existing structure recorded in Book at Page in the office of the Clerk and Recorder of Pitkin county, Colorado. 14. various Riahts and Easements. a. Owner's Riahts in Limited Common Elements. Subject to the other provisions of this Declaration, each Owner and that -6- ," I"'; ,-., #358406 07. /1/93 15: 42 Rec: $135.00 BK i, )6 PG 574 ~i~v~ia?a\f~s'f"i tk i n. Cn1::YC:~=':'':''~mEoc: $ .00 Owner's guests, tenants and invitees shall have an exclusive right to use and enjoy the Limited Common Elements designated herein, in the Map, or in the initial deed from Declarant as appurtenant to the Condominium unit owned by that Owner. b. Association Riqhts. The Association, the Board and the Managing Agent shall have a non-exclusive right and easement to make such use of and enter into or on the General Common Elements, the Limited Common Elements and the Units as may be necessary or appropriate for the performance of the duties and functions which they are obligated or permitted to perform under this Declaration. c. Owner's Easements for Access. SU1:>port and Utilities. Each Owner shall have a non-exclusive easement for access between that Owner's unit and the roads and streets adjacent to the Common Interest Community, and that Owner's parking areas and exterior access and other easements which are part of the General Common Elements. Each Owner shall have a non-exclusive easement in, on and over the General Common Elements, including the General Common Elements within the Unit of another Owner, for horizontal and lateral support of that which is part of that Condominium Unit, for utility service to that unit, including and not limited to water, sewer, gas, electricity, telephone and television service. d. Easements for Encroachments. If any part of the General Common Elements encroaches or shall hereafter encroach on a Unit, an easement for such encroachment and for the maintenance of the same shall and does exist. If any part of a unit encroaches or shall hereafter encroach on the General Common Elements or the other Unit, the Owner of that Unit shall and does have an easement for such encroachments and for the maintenance of same. Such encroachments shall not be considered to be encumbrances either on the General Common Elements, or on a Condominium Unit, for purposes of marketability of title or otherwise. Encroachments referred to herein include, but are not limited to, encroachments caused by error in the original construction of the building, by error in the map, by settling, rising, or shifting of the earth, or by changes in position caused by Repair or reconstruction of the Common Interest Community, or any part thereof. e. Easements in Units for Repair. Maintenance and Emerqencies. Some of the General Common Elements are or may be located within a Unit, or may be conveniently accessible only through a particular unit. The Association, Board, managing Agent and each Owner shall have an easement, which shall be exercised for any Owner by the Association, the Board or the Managing Agent, as its agent, for access through each Unit and to all General Common Elements, from time to time, during such reasonable hours as may be necessary for the location, placement, existence, maintenance, repair or replacement of any of the General Common Elements located therein or accessible therefrom, or for making emergency repairs therein necessary to prevent damage to the General Common Elements or to another Unit, or for making repairs or replacement pursuant to Paragraph 15 hereafter. Damage to the interior of any part of a unit resulting from the maintenance, repair, emergency repair, or replacement of any of the General Common Elements, or as a result of emergency repairs within another unit, at the instance of the Association, the Board or the Managing Agent, shall be a common expense of each of the Owners. No diminution or abatement of common expense assessments shall be claimed or allowed for inconvenience or discomfort arising from the making of repairs or improvements, or from action taken to comply with any law, ordinance or order of any governmental authority, unless so determined by the Board. Restoration of the damaged improvements shall be substantially the same as the condition in which they existed prior to the damage. Notwithstanding the foregoing, if any such damage is the result of the carelessness or negligence of any Owner, tenant, or guest, such OWher shall be solely responsible for the costs and expenses of repairing such damage. An Owner of any Unit containing a General Common Element shall indemnify and hold -7- #358406 ~)1/9 e ~, . ,-,' 3 1-.1' 42 Rae; $135.00 Bf _ i'16 lVla Davls, Pltkin Cnty Clark, Doe; $.00 PG 575 the Association harmless for any damage resulting from the presence of said Common Element. f. Easements Deemed Appurtenant. The easements, uses and rights herein created for an Owner shall be appurtenant to the Condominium Unit of that Owner, and all conveyances of and other instruments affecting title to a Condominium unit shall be deemed to grant and reserve the easements, uses and rights as are provided for herein, even though no specific reference to such easements, uses and rights appear in any such conveyance. 1.5. Owners' Maintenance Responsibilitv. For purposes of maintenance, repair, alternation and remodeling, an Owner shall be deemed to own, and shall have the right and obligation to-maintain, repair, alter and remodel the interior nonsupporting walls, the materials (such as, but not limited to, plaster, gypsum drywall, paneling, wallpaper, paint, wall and floor tile and flooring, not including the subflooring) making up the finished surfaces of the perimeter walls, ceilings and floors within the Unit, and the unit's doors and windows, and any and all new additions to a Unit made by the owner thereof, including, without limitation, any new fence or other structure to be constructed enclosing a patio, balcony, yard or deck area, and the Limi ted Common Elements associated with the use and occupancy of the Unit, but only if approved by the other Owner. No Owner shall, however, make any changes or alterations of any type or kind to the exterior surfaces of the doors or windows to that Owner's Unit or to any General Common Elements (including, and not limited to, the exterior portions of that Owner's Unit). An Owner shall not be deemed to own lines, pipes, wires, conduits or systems (which, for brevity, are hereinafter referred to as "utilities") running through that Owner's Unit which serve both Units, except as a tenant-in-common with the other Owner. Each Owner shall keep and ,maintain the utilities and equipment in that Owner's unit which provide services exclusively for that Unit. Each Owner shall have the obligation to replace any finishing or other materials removed with similar types or kinds of materials. Each Owner shall maintain and keep in good repair, and in a clean, safe and attractive'condition, the interior of that Owner's Unit, including the fixtures, doors and windows thereof, and the improvements affixed thereto, and such other items and areas as may be required in the Bylaws. Also, an Owner shall maintain, clean and keep in a neat and clean condition the fireplace within that Owner's Unit, and keep in a neat and clean condition and free and clear of snow, ice and any accumulation of water on the deck, yard, porch, roof, balcony, and/or patio area, if any, adjoining or leading to a Unit, which areas are Limited Common Elements appurtenant to such Owner's Condominium unit. All fixtures, appliances and equipment installed within a Unit commencing at a point where the utilities enter the Unit shall be maintained and kept in repair by the owner thereof. If any Owner fails to carry out or neglects the responsibilities set forth in this paragraph the Board or the Managing Agent may fulfill the same and charge such Owner a special assessment therefor, which shall be immediately due and payable. Any expense incurred by an Owner under this paragraph shall be the sole expense of the Owner. 1.6. compliance with provisions of Declaration. Articles and Bvlaws of the Association. Each Owner shall comply strictly with, and shall cause each of that Owner I s guests to comply strictly with, all of the provisions of this Declaration, the Articles and Bylaws, and the decisions, rules, regulations and resolutions 'of the Association or the Board adopted pursuant thereto, as the same may be lawfully amended from time to time. Failure to comply with any of the same shall be grounds for an action to recover sums due, and for damages or injunctive relief or both, along with costs of suit and reasonable attorneys' fees, maintainable by the Managing Agent or Board of Directors in the name of the Association on behalf of the Owners or, in as proper case, by the aggrieved Owner. -8- '. #358406 07/01/9(")5: 42 Ree $135.00 BK 7,>ltf6 F~76 Silvia Davis, Pitkin Cnty Clerk, Doc $.00 17. The Association. a. General Purposes and Power. The Association, through the Board or the Managing Agent, shall perform functions and hold and manage property as provided in this Declaration so as to further the interests of Owners of both Condominium Units in the Common Interest Community. It shall have all powers necessary or desirable to effectuate such purposes. b. Membership. The Owner of a Condominium unit shall automatically be a member' of the Association. The membership is appurtenant to the Condominium Unit of that owner, and the ownership of the membership for a Condominium Unit shall automatically pass with fee simple title to the Condominium Unit. Each Owner shall automatically be entitled to the benefits and subject to the burdens relating to the membership for that Condominium unit. If the fee simple title to a Condominium Unit is held by more than one (1) person, those persons shall collectively as Owners of a Condominium Unit have one membership of, and be entitled to one (1) vote on all matters of the Association. Memberships in the Association shall be limited to Owners of Condominium units in the Common Interest community. c. Board of Directors. The affairs of the Association shall be managed by a Board of Directors which may by resolution delegate any portion of its authority to an executive committee, or to a director or managing agent for the Association. There shall be not less than two (2) but not more than three (3) members of the Board of Directors. The Owner of each unit shall have one (1) seat on the Board, and the additional member, if there shall be one (1) (whose term shall expire annually) shall be elected by a vote of the two (2) Owners if there shall be three (3) directors. No later than five (5) days after conveyance of the units to a purchaser other than the Declarant, sllch' Unit Owner shall be entitled to elect one (1) person to the Board of Directors. Notwithstanding anything to the contrary provided for herein, until Declarant has conveyed both Condominium units in the Common Interest community, or until December 31, 1995, whichever event shall first occur, two (2) members of the Board of Directors shall be appointed by Declarant, Declarant's heirs, successors or assigns. d. votinq of Directors. entitled to one (1) vote each. The Director(s) shall be e. Bvlaws and Articles. The purposes and powers of the Association, and the rights and obligations with respect to owners set forth in this Declaration, may and shall be controlled by provisions of the Articles and Bylaws of the Association. 18. certain Riqhts and Obliqations of the Association. a. Association as Attornev-in-Fact for Owners. The Association is hereby irrevocably appointed attorney-in-fact for the Owners and each of them to manage, control and deal with the interest of each Owner in the General Common Elements so as to permit the Association to fulfill all of its duties and obligations hereunder, and to exercise all of its rights hereunder, to deal with the Common Interest Community on its destruction or obsolescence as hereinafter provided, and to grant utility easements through any portion of ,the General Common Elements. The acceptance by any person of any interest. in either Condominium unit shall constitute an appointment of the Association as attorney-in- fact as provided above and hereinafter. The Association is hereby granted all of the powers necessary to govern, manage, maintain, repair, rebuild, administer and regulate the Common Interest Community, and to perform all of the duties required of it. Notwithstanding the foregoing, and subject to the provisions contained in this Declaration (unless at least one-half [1/2) of the first mortgagees of Condominium Units, based on ,one [1) vote -9- #3:'58406 07/01r\ 1""4~ .~ ~ Si1 . . ' ........ Rae $135.00 BK 716~J VIa DaVIS, Pitkin Cnty CJ k D' - . .ar', oe $.00 577 for each first mortgage owned}, and both of the Owners (excluding Declarant) have given their prior written approval, the Association shall not be empowered or entitled to: (1) by act or omission seek to abandon or terminate the Common Interest Community; (2) change the pro rata interest or obligations of either Condominium Unit for the purpose of levying assessments or charges, or allocating distributions of hazard insurance proceeds or condemnation awards; (3) partition or subdivide either Condominium Unit; (4) by act or omission seek to abandon, partition, subdivide, encumber, sell or transfer (excluding the granting of easements for public utilities or other public purposes consistent with the intended use of the General Common Elements) any of the General or Limited Common Elements; and (5) use hazard insurance proceeds which have been received for loss to the Common Interest community (whether units or General Common Elements) fo~ other than repair, replacement or reconstruction thereof. Provided, however, that no action set forth in Subparagraphs 19 (a) (1-5) above may be taken without the prior written approval of the owner and first mortgagee of the specific unit or units being affected. b. General Common Elements. The Association shall provide for the care, operation, management, maintenance, repair and replacement of the General Common Elements, except as is provided for in Paragraph 15 herein. without limiting the generality of the foregoing, the obligations shall include the keeping of such General Common Elements in a good, clean, attractive, and sanitary condition, order and repair; removing snow and any other materials from such General Common Elements which might impair access to the Common Interest community or the Units, irrigating and maintaining the landscaping and lawns; keeping the Common Interest Community safe, attractive and desirable; and making necessary or desirable alterations, additions, betterments or improvements to or on the General Common Elements. c. Other Association Functions. The Association may undertake any activity, function or service for the benefit of or to further the interests of any Owners on a self-supporting, special-assessment, or common-assessment basis. Such activities, functions or services may include the providing of police or similar security services. d. Labor and Services. The Association: (I) may obtain and pay for the services of a Managing Agent to manage its affairs or any part thereof to the extent it deems advisable, as well as such other personnel as the Association shall determine to be necessary or desirable for the proper operation of the Common Interest Community, whether such personnel are furnished or employed directly by the Association, or by any person with whom or which it contracts; (2) may obtain and pay for legal and accounting services necessary or desirable in connection with the operation of the Common Interest Community or the enforcement of this Declaration; and (3) may arrange with others to furnish lighting, heating, water, trash collection, sewer service and other common services. e. Property of Association. The Association may pay for, acquire and hold or lease tangible and intangible personal property, and may dispose of the same by sale or otherwise for the purposes set forth in'this Declaration. Subject to the provisions of this Declaration, ahdrules and'regulations of the Association, -10- " *1358406 0.01/93 15:42 Rec $135.00 sK16 PG 578 Silvia Davis, Pitkin Crlty Clerk, Doc: $~OO --'------~~--~-_.-_.__...__._..._-~- each Owner and each Owner's family and guests may use such property. On termination of condominium ownership of the Common Interest community and dissolution of the Association, if ever, the beneficial interest in any such property shall be deemed to be owned by the then Owners as tenants in common in the same proportion as their respective interests in the General Common Elements. A transfer of a Condominium Unit shall transfer to the transferee, ownership of the transferor's beneficial interest in such property without any reference thereto. Each Owner may use such property in accordance with the purposes for which it is intended, without hindering or encroaching on the lawful rights of the other Owner. The transfer of title to a Condominium Unit under foreclosure shall entitle the purchaser to the beneficial interest in such property associated with the foreclosed Condominium Unit. f. Association Riqht to Grant Easements to the General Common Elements. The Association shall have the right to grant utility easements under, through or over the General Common Elements which are reasonably necessary to the ongoing operation of the Common Interest Community. g. Mortqaqee Notification. The Association shall notify each first mortgagee of any proposed material amendment of the Association's Articles or Bylaws at least ten (10) days prior to the effective date of such amendment or change. Further, on the written request of any first mortgagee, such first mortgagee shall be entitled to receive the most recent annual financial statement of the Association, and written notice of all meetings of the Association, and such first mortgagee shall have the right to designate a representative to attend any such meeting. h. Enforcement bv Association. The Board may suspend any Owner's voting rights in the Association, or the right of any owner to use the common facilities of the Common Interest Community during any period or periods during which such Owner fails to comply with the Association's rules and regulations, fails to pay assessments, or fails to comply with any other obligations of such Owner under this Declaration. The Association may also take judicial action against any Owner to enforce compliance with such rules, regulations or other obligations hereunder, or in the Bylaws contain, or to obtain damages for non-compliance by any such Owner or his tenants, guests or invitees. i. certificate. The Board of Directors may, from time to time, record a certificate of the identity and the mailing addresses of the persons then comprising the Board of Directors, together with the identity and address of the conclusive evidence thereof in favor or any person relying thereon in good faith, regardless of the time elapsed since the date thereof. j. Implied Riqhts. The Association shall have and may exercise any right or privilege given to it expressly by this Declaration, the Articles or the Bylaws, or reasonably to be implied form the provisions of those documents, or given or implied by law, or which may be necessary or desirable to fulfill its duties, obligations, rights or privileges. 19. Assessment for Common Expenses. a. Each Owner and the Declarant, if the Declarant is an owner, shall be obligated to pay the assessments imposed by the Board of Directors to meet the estimated common expenses. The assessments Shall be made pro rata according to each Owner's interest in and to the General Common Elements, as set forth in Exhibit "1" attached hereto. Declarant shall be obligated as any other Owner in reference to Condominium Units then owned by Declarant to pay the estimated common expense assessments imposed by the Board to meet the common expenses. Except as hereinabove provided, the Limited Common Elements shall be maintained in the same manner as General Common Elements, and Owners having the -11- #358406 07f:)/93 15:42 Rec $135.00 BK r-) PG 579 Silvia Davis, Pitkin cnti...l:l=,:~~_~.O_c:~~O(~ '--~~.._--- exclusive use thereof shall not be subject to any special charges or assessments. Assessments for the estimated common expenses shall be due, in advance, on the first day of January and July of each year. Thirty (30) days before the annual meeting of the Owners, the Managing Agent or Board of Directors shall prepare and deliver or mail to each Owner an itemized annual budget showing the various estimated or actual expenses for which the assessments are made, and the assessments paid by each Owner for the prior year. This budget shall be approved by the Board, and ratified by the members of the Association at the annual meeting. Contributions for assessments shall be pro rated if the ownership of a Condominium unit commences on a day other than the first day of January or July. The assessments made for common expenses shall be based on the requirements deemed, as the Board of Directors shall, from time to time, determine to be paid or accrued to be paid to provide for the payment of all estimated expenses growing out of or connected with the maintenance and operation of the General Common Elements, which sum may include, among other things, expenses of management; taxes and special assessments, until separately assessed; premiums for insurance of the types and kinds provided for in Paragraph 22 hereafter; landscaping and care of grounds; common lighting and heating; repairs and renovations; trash collection; wages; water and sewer charges; legal and accounting fees; capital expenditures made by the Board not exceeding ten thousand dollars ($10,000.00), in anyone (1) calendar year (unless a greater amount is approved by a majority of the votes of the Board; expenses and liabilities incurred by the managing Agent or Board of Directors under or by reason of this Declaration; deficits remaining from a previous period; and other costs and expenses relating to the General Common Elements. Further, it shall be mandatory for the Board to establish and segregate, out of such monthly assessments, a contingency or reserve fund for the repair, replacement and maintenance of those General Common Elements that must be replaced periodically. The omission or failure of the Board of Directors to fix the assessment for any month shall not be deemed a waiver, modification or a release of the Owners from their obligation to pay the same. Any Owner or first mortgagee may, pursuant to C.R.S. S38-33.3-317, inspect the Association's records of receipts and expenditures at any reasonable time during convenient weekday business hours; and, on ten (10) days' notice to the Board of Directors or Managing Agent, if any, and on payment of a reasonable fee not to exceed twenty dollars ($20.00), any Owner or first mortgagee of such owner shall be furnished a statement of account setting forth the amount of any unpaid assessments, of any calendar year, the Board of Directors may, but shall not be required to, refund to each Owner that Owner's proportionate share of funds then held by the Association which are not deemed to be necessary to meet the common expenses. Each Owner shall be obligated to pay all charges for any separately metered utilities servicing that Owner's unit. Any utili ties that are master metered shall be a common expense hereunder. b. The Board of Directors shall have the right during any calendar year to levy and assess against each of the Owners a special assessment for such purpose or purposes, in accordance with this Declaration, the Articles or Bylaws, as may be necessary to keep the Common Interest community as a first-class Condominium Common Interest Community. Such special assessment shall be borne by the Owners in accordance with each Owner's interest in the General Common Elements, and shall be due and payable as determined by the Board of Directors. 20. Assessment Reserves. The Association may require an Owner to deposit with the Association an amount not exceeding the amount of the original estimated semi-annual common assessment, which sum shall be held, without interest, by the Association as a reserve to be used for paying such owner's semi-annual common assessment and for working capital. Such an advance payment shall not relieve an Owner from making the regular payment of the semi- annual common assessment as the same comes due. On the transfer of ,. . -12- r-, 35 -0 BV 7161"""\- #358406 07/01 IC,..... 15: 42 Rec $1 .0 '. _ . """" Silvia Davis, Pitkin Cnty Clerk, Doc $.00 any Condominium Unit, an Owner shall be entitled to a credit from the' transferee for any unused portion thereof. Such reserves shall, at all times, remain as capital of the Association. 21. Additions. Alterations and Improvements - General and Limited Common Elements. There shall be no special assessments in excess of ten thousand dollars ($10,000.00) levied by the Board of Directors in anyone (1) calendar year, or any capital additions, alterations or improvements of or to the General or Limited Common Elements by the Association requiring expenditure(s) in excess of ten thousand dollars ($10,000.00), in anyone (1) calendar year, without, in each case, prior approval by a majority of the members of the Association, except in the event of an emergency. The limitations set forth above shall not apply to any expenditures made by the Association for maintenance and repair of the General Common Elements as set forth in Paragraph 18 hereof, or for repair in the event of damage, destruction or condemnation as provided in Paragraph 28 and Paragraph 29 hereof. 22. Insurance. a. Insurance Requirements Generallv. The Association shall obtain and maintain in full force and effect at all times certain casualty, liability and other insurance as hereinafter provided. All such insurance shall be obtained, to the extent possible, from responsible companies duly authorized to do insurance business in the State of Colorado. All such insurance shall name as insureds the Association, the Board of Directors of the Association, the Association's officers, employees and agents, and, if each of the insureds as if each were separately insured under separate policies. To the extent possible, such casualty insurance shall: (1) provide for a waiver insurer as to claims against Declarant, directors, officers, employees and agents, and any Owner's employees and guests; (2) provide that the insurance cannot be canceled, invalidated or suspended on account of the conduct of the Association, its officers, directors, employees and agents, or of any Owner, or such Owner's employees or guests; of subrogation of the the Association, its and against any Owner, (3) provide that any "no other insurance" clause in the insurance policy shall exclude any policies of insurance maintained by any Owner or mortgagee, and that the insurance policy shall not be brought into contribution with insurance maintained by any Owner or mortgagee; (4) contain a standard mortgage clause endorsement in favor of the mortgagee of any Condominium Unit or part of the Common Interest community, except a mortgagee of a Condominium Unit or part of the Common Interest community who is, covered by other and separate insurance; (5) provide that the policy of insurance shall not be terminated, canceled or SUbstantially modified without at least ten (10) days' prior written notice to the Association, and to each Owner and to each mortgagee covered by any standard mortgage clause endorsement; and (6) provide that the insurer shall not have the option to restore the premises if condominium ownership of the Common Interest Community is to be terminated in accordance with the terms of this DeClaration, or the Common Interest community is to be sold in its entirety in accordance with the destruction, condemnation or obsolescence provisions of this Declaration. To the extent possible, public liability and property damage insurance shall provide for coverage of any cross -13- #358406 07~/93 15:42 Rec $135.00 BK~ PG 581 Silvia Davl~, Pitkin Cnty Cle~I~,._.~oc_ ~ ,) liability claims of Owners against the Association or the other owner, and of the Association against owners, without the right of subrogation. Any insurance policy may contain such deductible provisions as the Board of Directors of the Association deems consistent with good business practice. The Association shall obtain an independent appraisal of the Common Interest community at least every five (5) years or more often if the Board of Directors deems it advisable; provided, however, that said appraisal may be performed by an appraiser employed by an insurance company. Certificates of insurance coverage insurance policies shall be issued to each Owner and who makes written request to the Association certificate or copy of an insurance policy. or copies of each-mortgagee for any such The cost and expense of all insurance obtained by the Association, except insurance covering additions, alterations or improvements made to a Condominium Unit by an owner, or other insurance obtained at the request of and specifically benefiting any particular Owner, shall be an expense of the Association. b. Casualtv Insurance. The Association shall obtain and maintain casualty insurance covering the Common Interest community, and each Condominium Unit, covering loss or damage by fire and such other hazards as are covered under standard extended coverage policies, with vandalism and malicious mischief endorsements, and, if available and if deemed appropriate by the Association, other casualty risks, for the full insurable replacement cost of the Common Interest Community, including each Condominium unit with an inflation guard endorsement that automatically increases the amount of coverage by a fixed percentage periodically. At the option of the Association, such insurance may also cover additions, alterations or improvements to a condominium unit made by an Owner if the Owner reimburses the Association for any additional premiums attributable to such coverage. The Association shall not be obligated to apply any insurance proceeds to restore a Condominium Unit to a condition better than the conditions existing prior to the making of additions, alterations or improvements by an Owner, in the absence of insurance covering such additions, alterations or improvements as aforesaid. c. Public Liabilitv and Property Damaqe Insurance. The Association shall obtain and maintain comprehensive pUblic liability and property damage insurance covering personal liability, property damage liability, and automobile personal and property damage liability of the Association, its officers, managers, employees and agents, and of each Owner and each Owner's employees and guests, arising in conjunction with ownership, operation, maintenance, occupancy or use of the Common Interest Community, or of any Condominium unit in the Common Interest Community, with limits of not less than one million dollars ($1,000,000.00) for each occurrence involving bodily injury liability and/or property damage liability. d. Workmen's Compensation and Emplover's Insurance. The Association shall obtain and maintain compensation and employer's liability insurance as may be to comply with applicable laws. Liabilitv workmen's necessary e. Insurance by Owners. Insurance coverage on contents, merchandise, furnishings, including cabinets, counters, carpet and other floor coverings, draperies, oven, range, gas grills, refrigerators, wallpaper, disposals, plumbing fixtures such as tubs, sinks and other items of personal and other property belonging to an Owner, and public liability coverage within each Unit, shall be the sole and direct responsibility of the Owner -14- #358406 07/01/93 ~42 Rec $135.00 BK ~ PG,~2 Silvia Davis PitKln Cnty Clerk, Doc $.O~ , ---_.._._~.--- _..._._..,---_..._...__.~._- thereof, and the Board of Directors, the Association and the Managing Agent shall have no responsibility therefor. Any insurance policy obtained by an Owner shall be such that it will not diminish or adversely affect or invalidate any insurance or insurance recovery under policies carried by the Association, and shall, to the extent possible, contain a waiver of the right of subrogation by the insurer as to any claim against the Association, its officers, managers, agents and employees, and against the Owners and their employees and guests. A copy of any insurance policy obtained by an Owner shall be furnished to the Association on the written request of the Association. f. Receipt and Application of Insurance Proceeds. Except as some particular person has a legal right to receive insurance proceeds directly, all insurance proceeds and recoveries shall be paid to and received by the Association. All insurance 'proceeds or recoveries received by the Association shall be applied by the Association; first, as the Owners or persons whom the Association may determine are legally or equitably entitled thereto; and second, the balance, if any, to Owners in proportion to their respective interest in Common Elements. , g. Other Insurance bv Association. The Association shall have the power and authority to obtain and maintain other and additional insurance coverage, including casualty insurance covering personal property of the Association, fidelity bonds, or insurance covering employees and agents of the Association, and insurance indemnifying officers, managers, employees and agents of the Association. h. Owner-Increased Premiums. In the event that, as a consequence of the hazardous use of any Condominium Unit, or of any Owner installed improvements to any condominium Unit, the premiums of any policy of insurance purchased by the Association are increased, or special policy is required, the cost of such increase or specific policy shall be payable by the Owner of such Condominium unit. 23. Lien for Nonpavment of Assessments. a. The Association has a lien on a unit for any assessment levied against that Unit, or fines imposed against its Owner, from the time the assessment or fine becomes due. Fees, charges, late charges, attorney fees, fines and interest charged, pursuant to subsections (d) and (e) below, are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment is a lien from the time the first installment thereof becomes due. b. A lien under this section is prior to all other liens and encumbrances on a Unit, except; (1) Liens and encumbrances recorded before the recordation of the Declaration; (2) A security interest on the unit which has priority over all other security interests on the Unit, and which was recorded before the date on which the assessment sought to be enforced became delinquent; and., (3) Liens for real estate taxes and other governmental assessments or other charges against the unit. c. A lien for assessments is also prior to the security interests described in Subparagraph (2) of Paragraph b above to the extent of: (1) An amount equal to the common expense assessments based on a periodic budget adopted by the Association -15- ~358406~01/93 15:42Rec $135.00~716 PG 583 ~~.l.~V~.~ ~ ,/1 S, P i_~ ki~_c:~~"-E~=~ k, Doc-$ . 00 which would have become due, in the absence of any acceleration, during the six (6) months immediately preceding institution of an action to enforce the lien, but in no event shall the priority accorded under this Paragraph 23 to such lien exceed one hundred fifty percent (150%) of the average monthly assessment during the immediately preceding fiscal year multiplied by six; and (2) Attorneys' fees and costs being incurred in an action to enforce the lien. d. If any assessment shall remain unpaid twenty (20) days from and after the due date thereof, such unpaid sums shall bear interest from and after the due date thereof at a rate of interest equal to four (4) points above the Prime Rate.as set by the Chase Manhattan Bank, and the Board of Directors may impose a late charge on such defaulting owner, to cover the extra cost and expenses involved in handling such delinquent assessments. e. The Association may enforce its lien for assessments by foreclosure of the defaulting Owner's Condominium unit by the Association in like manner as a mortgage on real property. In any such foreclosure, the Owner shall be required to pay the costs and expenses of such proceedings, the costs and expenses for filing the notice or claim of lien, and all reasonable attorneys' frees. The Owner shall also be required to pay to the Association the monthly assessment for the Condominium unit during the period of foreclosure, and the Association shall be entitled to the appointment of a receiver to collect the same. The Board of Directors shall have the power to bid on the Condominium unit at foreclosure sale, and to acquire and hold, lease, mortgage and convey the same. f. Any encumbrancer holding a lien on a Condominium unit may pay, but shall not be required to pay, any unpaid common expenses payable with respect to such Condominium Unit, and, on such payment, such encumbrancer shall have a lien on such Condominium unit for the amounts paid of the same rank as the lien of that encumbrancer's encumbrance; provided, however, that any first mortgagee who acquires a Condominium unit by foreclosure or by a deed in lieu thereof shall acquire title to such Condominium Unit free and clear of any lien for unpaid common expenses, and shall only be responsible for common expenses arising after the date on which such first mortgagee acquires title to the Condominium Unit, except for those expenses which are a statutory lien under S38-33.3-316 of the Colorado Common Interest Ownership Act. g. The Association shall furnish to an Owner or such Owner's designee, or to a holder of a security interest or its designee, upon written request, delivered personally or by certified mail, first-class postage prepaid, return receipt, to, the Association's registered agent, a statement setting forth the amount of unpaid assessments currently levied against such Owner's unit. The statement shall be furnished within fourteen (14) business days after receipt of the request, and is binding on the Association, the Board, and each Owner. If no statement is furnished to the owner or holder of a security interest or their designee, delivered personally or by certified mail, first-class postage prepaid, return receipt requested, to the inquiring party, then the Association shall have no right to assert a prior lien upon the unit for unpaid assessments which were due as of the date of the request. The inquiring party shall pay a reasonable fee as specified in the rules and regulations adopted by the Board upon making the written request for a statement under this section. h. Each Owner hereby agrees that the Association's lien on a Condominium unit for assessments, as hereinabove described, shall be superior to the Homestead Exemption provided by C.R.S. S38-41-201, et seq., as amended, and each Owner hereby agrees that the acceptance of the' deed or other instrument of conveyance in -16- #358406 0~1/93 15.42 Rec $135.00 BIr-\6 PG ,8 ".l~"':'.~,=-V.S-,-""i~ k ~_~Cn!~':!E?r:k--,-DQcjj;:,?~_. 584 regard to any Condominium Unit within the Common Interest community shall signify such grantee's waiver of the Homestead right granted in the section of the Colorado statutes. i. Any recorded lien for nonpayment of the common expenses may be released by recording a release of lien executed by a member of the Board of Directors. 24. Owners' Obliaations for Payment of Assessments. The amount of the common expenses and any special assessment assessed against each Condominium Unit shall be the personal and individual debt of the Owner or Owners thereof at the time the assessment is made. suit to recover a money judgment for unpaid common expenses or special assessments, and costs of suit and attorneys' fees, shall be maintainable without foreclosing or waiving the lien securing same. No Owner may exempt them from liability for contribution towards the common expenses or any special assessment by waiver of the use of enjoyment of the General Common Elements, Limited Common Elements, or by abandonment of that Owner's Condominium unit. 25. Liabilitv for Assessments on transfer of Condominium unit. a. The grantee of a Condominium Unit, except a first mortgagee who acquires a Condominium Unit by foreclosure or a deed in lieu of foreclosure, shall be jointly and severally liable with the grantor for all unpaid assessments against the grantor for that Grantor's proportionate share of the common expenses up to the time of the grant or conveyance, without prej udice to the grantee's right to recover from the grantor the amounts paid by the grantee therefor; provided, however, that on payment of a reasonable fee specified in rules and regulations adopted by the Board of Directors, and written request, any such prospective grantee shall be entitled to a statement from the Managing Agent or Board of Directors setting forth the amount of the unpaid common expense, if any, with respect to the subject Condominium Unit, the amount of the current monthly assessment, the date that such assessment becomes due, the amount of any assessment reserve on deposit with the Association, and any credit for advance payments for prepaid items, including, but not limited to, insurance premiums, which statement shall be conclusive on the Association in favor of all persons who rely thereon in good faith. Unless such request for such a statement shall be complied with within fourteen (14) days from the receipt thereof, such requesting grantee shall not be liable for and the Condominium Unit conveyed shall not be subject to a lien for any unpaid assessments against the subject Condominium Unit. 26. Mortaaaina a Condominium Unit - prioritv. Any Owner shall have the right, from time to time, to mortgage or encumber that Owner's Condominium unit by deed of trust, mortgage or other security instrument. The Owner of a Condominium unit may create junior mortgages (junior to the lien, deed of trust, or other encumbrance of the first mortgage) on that Owner's Condominium unit on the following conditions: (1) that any such junior mortgages shall always be subordinate to all of the terms, conditions, covenants, restrictions, uses, limitations, obligations, liens for assessments, and other obligations created by this Declaration and the Bylaws; and (2) that the mortgagee under any junior mortgage shall release for the purpose of restoration of any improvements on the mortgaged premises all of the Mortgagee's right, title and interest in and to the proceeds under all insurance policies effected and placed on the Common Interest Community by the Association. Such release shall be furnished forthwith by a junior mortgagee upon written request of the Managing Agent, or by one (1) or more of the members of the Board of Directors of the Association, and if not furnished, may be executed by the Association as attorney-in-fact for such junior mortgagee. -17- f''\ R $1:'>'" 00 B~t~ #358406 1".,,/01/93 15:42 ec -"'. - '. ,P,-c:> Silvia Davis, pitkin,!:nty Cler.k!.E.oc: $.00 PG 585 ,----- ._"._---~---~-_.-_._._....._-_._~.- ,-----,--- 27. Restrictive Covenants and Obliqations. The Board of Directors or the Managing Agent shall have the power to establish, make, and enforce compliance with all covenants and obligations hereof. a. No Imoerilina of Insurance. No Owner and no Owner 1 s guest shall do anything or cause anything to be kept in or on the project which might cause cancellation of any insurance effected and placed on the Common Interest Community by the Association. b. No Violation of Law. No Owner and no Owner's guest shall do anything, or keep anything in or on the Common Interest Community, which would be improper, offensive, or in violation of any statute, rule, ordinance, regulation, permit, or other validly imposed requirement of any governmental body. c. No Noxious. Noisv. Offensive. Hazardous or Annovina Activities. No noxious, noisy or offensive activity shall be conducted on any part of the Common Interest Community; nor shall anything be done or placed on or in any part of the Common Interest Community which is or may become a nuisance or cause embarrassment, disturbance or annoyance of any other Owner or their guest. No activity shall be conducted on any part of the Common Interest community, and no improvements shall be made or conducted on any part of the Common Interest Community, which are or might be unsafe or hazardous to any person or property. No sound shall be emitted on any part of the Common Interest Community which is unreasonably loud or annoying. No odor shall be emitted on any part of the Common Interest community which is noxious or offensive to others. No light shall be emitted from any part of the Common Interest community which is unreasonably bright or causes unreasonable glare. d. No Unsiahtliness. No unsightliness or waste shall be permitted on or in any part of the Common Interest community. without limiting the generality of the foregoing, no Owner shall keep or store anything on or in any of the General Common Elements. No Owner shall have, erect, affix or place anything on any of the General Common Elements (except for decorative items within that Owner's unit), and nothing shall be placed on or in windows or 'doors of units which would or might create an unsightly appearance. All trash shall be collected in areas designated by the Association. No wiring, television antennae, or other items may be installed which protrude through windows, walls or roof areas, except as expressly authorized by the Association or this Declaration. e. Restriction on Sians. No signs or advertising devices of any nature shall be erected or maintained on any part of the Common Interest Community, except for those erected by Declarant, without the prior written consent of the Board. The Board shall allow for one (1) for-sale sign at the time of the offering for sale of a unit. f. No Violation of Rules. No Owner and no Owner 1 s tenants, guests or invitees shall violate the rules and regulations adopted from time to time by the Association, whether relating to the use of Units, the use of General or Limited Common Elements, or otherwise. g. Owner Caused Damaaes. If, due to the act or neglect of an Owner or such Owner's tenants, guests or invitees, loss or damage shall be caused to any person or property, including the Common Interest Community or any unit therein, such Owner shall be liable or responsible for the same, except to the extent that such damage or loss is covered by insurance obtained by the Association, and the carrier ,of the insurance has waived its rights of subrogation against such Owner. The amount of such loss or damage may be collected by the Association from such Owner as an assessment against such Owner by legal proceedings or otherwise, -18- . . I"""',~ *1'358406' 07/01/93 15:42 Ree $135.00' ,J 71~ PG S86 Silvia Davis, Pitkin Cnty Clerk, Doe $.Ov and such amount. (including reasonable attorneys', fees) shall be secured by a lien on the Condominium unit of such owner, as provided hereinabove, for assessments or other charges. h. parkina' of Vehicles. parking of any and all vehicles on the Common Interest Community shall be only on the paved areas designated for parking and subject to the rules and regulations of the Association. The Association shall have no responsibility for damage done to automobiles parked on the Common Interest community. 1. Restrictions on Parkina and storaae. No part of the Common Interest Community, ,including the public streets and driveways or parking areas, unless specifically designated by the Association therefor, shall be used as a parking, storage, display or accommodation area for any type of trailer, camping trailer, boat trailer, hauling trailer, running gear, boat or accessories thereto, truck or recreational vehicle, except as a temporary expedience for loading, delivery, emergency, etc., provided this restriction shall not restrict trucks or other commercial vehicles which are necessary for the construction or maintenance of the Common Interest Community. Repairing of vehicles on the premises, outside of either unit, shall not be permitted. j. Sbc-Month Rental Restriction. For so long as required by the Municipal Code of the city of Aspen, no Owner shall lease that Owner's Condominium unit for a period of less than six (6) months, except that twice during each calendar year Owners may lease their Condominium units for lesser periods. k. Leases. No Owner may lease less than that Owneris entire Condominium Unit, and all leases shall be in writing. All leases shall provide that the terms of the lease are subject, in all respects, to the provisions of this Declaration, and to the provisions of the Articles of Incorporation, Bylaws, rules and regulations, and decisions and resolutions of the Association and the Board of Directors. 1. Pets. only qats and dogs will be allowed in each Unit, and then only if they' 'are , quiet and obedient. In the event the Owner of a Unit owns a permitted dog, they will be required to install an invisible electric fence, and the dog will be required to wear an electric collar whenever it is in the yard in order to make the invisible electric fence operational. In:1ieu of'an in- visible fence.', a Unit Owner sh;>ll be entitleli to fence ,:that portion of the yard , constituting their limited cOIllIDon element. ' ' , 'm.. Hot Tubs. .. Hot tubs shall be allowed, on the roof of each Unit. Each Unit' Owner agrees that in connection with their use of the hot tub, not to' violate any of the rules or regulations herein contained 'or, from time to time; adopted by the Association. ' . n. Outdoor Grills. No use of an outdoor grill shall' violate any' of' the rules' or ',regulations herein contained or hereinafter adopted by the Association. ' o. Outdoor Furniture and. Equipment. No swing' sets, stJ;uctu;r:€S OJ; ~P<tuhe$. w,ill.be;'\l1owed i:n the ya);d~.. 28. Association as Attornev-in-Fact - Damaae and Destruction - Obsolescence. This Declaration does hereby make mandatory the irrevocable appointment of the Association as attorney-in-fact to deal with the Common Interest Community on its destruction, repair or obsolescence. Title to any Condominium unit is declared and expressly made s;ubject to the terms and conditions hereof, and acceptance by any grantee of a deed from the; Declarant or from any Owner shall constitute appointment of the attorney-in-fact for the purpose of dealing with the Common Interest community on its destruction, -19- #358406 ("\01/93 15:42 Rec $135.00 016 PG _~i.l_vj~.[)~~~=,!,~~k i 1"l~~~Y~C:~~_k.,DClc:$ ,C)<:J. 587 repair or obsolescence, as is hereinafter provided. As attorney- in-fact, the Association, by its president and secretary, shall have full and complete authorization, right and power to make, execute and deliver any contract, deed or any other instrument with respect to the interest of an Owner which is necessary and appropriate to exercise the powers herein granted. Repair and reconstruction' of the improvements as used in the succeeding subparagraphs means restoring the improvements to substantially the same condition in which the improvements existed prior to the damage, with each unit and the General Common Elements and Limited Common Elements having substantially the same vertical and horizontal boundaries as before. Except as is otherwise herein provided, the proceeds of any insurance collected shall be available to the Association for the purpose of repair, restoration or replacement, unless all Owners and all first mortgagees agree not to rebuild in accordance with the provisions set forth hereinafter. Assessments for common expenses shall not be abated during the period of insurance adjustment and repair and reconstruction. a. In the event of damage or destruction to the Common Interest Community to the extent of not more than sixty six and two-thirds percent (66-2/3%) of the total replacement cost thereof, not including land, due to fire or other disaster, the insurance proceeds, if sufficient to reconstruct the improvements, shall be applied by the Association, as attorney-in-fact, to cause the repair and restoration of the improvements. b. If the insurance proceeds are insufficient to repair and reconstruct the improvements, and if such damage is to the extent of not more that sixty-six and two-thirds percent (66-2/3%) of the total replacement cost of the Common Interest Community, not including land, such damage or destruction shall be promptly repaired and reconstructed by the Association, as attorney-in-fact, using the proceeds of insurance and the proceeds of an assessment to be made against all of the Owners and their condominium units. Such deficiency assessment shall be a common expense and made pro rata according to each Owner's interest in the General Common Elements, and shall be due and payable within thirty (30) days after written notice thereof. The Association shall have full authority, right and power, as attorney-in-fact to cause the repair or restoration of the improvements using all of the insurance proceeds and such assessment. The assessment provided for herein shall be a debt of each Owner and a lien on that Owner's Condominium unit, and may be enforced and collected as is provided hereinabove. In addition thereto, the Association, as attorney-in- fact, shall have the absolute right and power to sell the Condominium unit of any Owner refusing or failing to pay such deficiency assessment within the time provided, and, if not so paid, the Association shall cause to be recorded a notice that the Condominium unit of the delinquent Owner shall be sold by the Association, as attorney-in-fact. The proceeds derived from the sale of such Condominium unit shall be used and disbursed by the Association, as attorney-in-fact, in the following order: (1) For payment of taxes and special assessment liens in favor or any assessing entity. (2) For payment of the balance of the lien of any first mortgage. (3) For payment of unpaid common expenses including the proration share of the deficiency assessment. (4) For payment of junior mortgages and encumbrances in the order of and to the extent of their priority. (5) The balance remaining, if any, shall be paid to the Owner. -20- #358406 07/~, 93 1""4~ .- Si 1 vi a~"-Vi\' >P_i~~~~. ~n:~~ C~~~~; O~O~K $:'0./ PG 588 "--.----'--.--...- c. If the Common Interest Community is destroyed or damaged to the extent of more that sixty-six and two-thirds percent (66-2/3%) of the total replacement cost thereof, not including land, the Board shall adopt a plan for the repair and reconstruction of the Common Interest Community, and each Owner shall be bound by the terms and provisions of such plan. The Association shall have the right to use, in accordance with such plan, all proceeds of insurance for such destruction or damages, as well as the proceeds of an assessment to be made against each of the Owners and their Condominium units. Any assessment made in connection with such plan shall be common expense, and made pro rata according to each Owner's percentage interest in the General' Common Elements, and shall be due and payable as provided by the terms of such plan, and not sooner than thirty (30) days after written notice thereof, the Association shall have full authority, right and power, as attorney-in-fact, to cause the repair and restoration of the improvements using all of the insurance proceeds for such purpose, notwithstanding the failure of an Owner to pay the assessment. The assessment provided for herein shall be a debt of each Owner and a lien on that Owner's Condominium Unit, and may be enforced and collected as is provided hereinabove. In addition thereto, the Association, as attorney-in-fact shall have the absolute right and power to sell the Condominium unit of any Owner refusing or failing to pay such assessment within the time provided, and, if not so paid, the Association shall cause to be recorded a notice that the condominium unit of the delinquent Owner shall be sold by the Association. The proceeds derived from the sale of such Condominium unit shall be used and disbursed by the Association, as attorney-in-fact, for the same purposes and in the same order as is provided in Subparagraphs (b) (1-5) of this paragraph. d. If the Common Interest Community is damaged or destroyed to the extent of more that sixty-six and two-thirds percent (66-2/3%) of the total replacement cost thereof, not including land, and if the Owners vote not to adopt a plan for repair and reconstruction, the Association shall, forthwith record a notice setting forth such fact or facts, and, on the recording of such notice by the Association's president and secretary, the entire remaining Common Interest Community shall be sold by the Association, as attorney-in-fact for all of the Owners, free and clear of the provisions contained in this Declaration, the Map, the Articles and the Bylaws. The insurance settlement proceeds shall be collected by the Association and such proceeds shall be divided by the Association according to each Owner'[s interest (as such interests appear on the policy or pOlicies), and such divided proceeds shall be paid into separate accounts, each such account representing One (1) of the condominium unit. Each such account shall be in the name of the Association, and shall be further identified by the Condominium unit designation and the name of the owner, Thereafter, ,each such account shall be supplemented by the apportioned amount of the proceeds derived from the sale of the entire Common Interest Community. Such apportionment shall be based on each Owner's percentage interest in the General Common Elements. The total funds of each account shall be us.ed and disbursed, without contribution from one (1) account to another by the Association, as attorney-in-fact, for the same purposes and in the same order as is provided in subparagraphs (b) (1-5) of this paragraph. The provisions contained in this subparagraph shall not hinder the protection given to a first mortgagee under a mortgagee endorsement. e. The Owners may agree that the General Common Elements are obsolete and, adopt a plan for the renewal and reconstruction; provided, however, that the plan shall have the approval of the first mortgagees of record at the time of the adoption of such plan. If a plan for the renewal or reconstruction is adopted, notice of such plan shall be recorded, and the expense of renewal and reconstruction shall be recorded, and the expense of renewal and reconstruction shall be payable by each of the Owners -21- 1*358406 01"'\1/93 15: 42 Rec $135.00 Bft-""6 PG ~~ Silvia Da'vis, Pitkin Cnty Clerk, Doc "",.00 as a common expense, whether or not they have previously consented to the plan or renewal and reconstruction. The Association, as attorney-in-fact, shall have the absolute right and power to sell the Condominium unit of any Owner refusing or failing to pay such assessment within the time provided, and, if not so paid, the Association shall cause to be recorded a notice that the Condominium unit of the delinquent Owner shall be sold by the Association. The delinquent Owner shall be required to pay to the Association the costs and expenses for filing the notices, interest at the rate of eighteen percent (18%) per annum on the amount of the assessment, and all reasonable attorneys' fees. The proceeds derived from the sale of the Condominium unit shall be used and disbursed by the Association, as attorney-in-fact, for the same purposes and in the same order as is provided in Subparagraphs (b) (1-5) of this paragraph. f. The Owners representing a aggregate ownership interest of one hundred percent (100%) of the Genera,l Common Elements may agree that the condominium units are obsolete and the same should be sold. Such plan (agreement) must have the unanimous approval or consent of every first mortgagee. In such instance, the Association shall forthwith record a notice setting forth such fact or facts, and, on the recording of such notice by the Association president and secretary, the entire Common Interest Community shall be sold by the Association, as attorney-in-fact for each of the Owners, free and clear of the provisions contained in this Declaration, the Map, the Articles and the Bylaws. The sale proceeds shall be apportioned between the owners on the basis of each Owner's percentage interest in the General Common Elements, and such apportioned proceeds shall be paid into separate accounts, each such account representing one (1) Condominium unit. Each such account shall be in the name of the Association, and shall be further identified by the Condominium designation and the name of the Owner. From each separate account, the Association, as attorney-in-fact, shall use and disburse the total amount (of each) of such accounts without contribution from one (1) account to another for the same purposes and in the same order as is provided in Subparagraphs (b) (1-5) of this paragraph. 29. Condemnation. a. Conseauences of Condemnation. If, at any time or times during the continuance of condominium ownership pursuant to this Declaration, all or any part of the Common Interest Community shall be taken, condemned by any public authority, or sold or otherwise disposed on in lieu of or in avoidance thereof, the provisions of this Paragraph 30 shall apply. b. Proceeds. All compensation, damages or other proceeds therefrom, the sum of which is hereinafter called the "Condemnation Award," shall be payable to the Association. c. Complete Takina. In the event the entire Common Interest Community is taken, condemned, or sold or otherwise disposed of in lieu of or in avoidance thereof, condominium ownership pursuant to this Declaration shall terminate. The Condemnation Award shall be apportioned among the Owners in proportion to their respective undivided interests in the General Common Elements; provided, however, that, if a standard different from the value of the Common Interest Community as a whole is employed to measure the Condemnation Award in the negotiation, judicial decree or otherwise, in determining such share, the same standard shall be employed to the extent it is relevant and applicable. d. Partial Takinq. In the event less than the entire Common Interest Community is taken, condemned, or sold or otherwise disposed of in lieu of or in avoidance thereof, the condominium ownership hereunder ,shall not terminate. Each Owner shall be entitled to a share of the Condemnation Award to be determined in -22- ^ '.'. < ~ #35844.07/01193 15:42 Rec $135.0\ 3f( 716 SLlvia Davis Pitkin Cnty Cler'k, Doc $.00 F'G 590 the fOllowing manner. As soon as practicable, the Association shall reasonably and in good faith allocate the Condemnation Award among compensation, damages and other proceeds, and shall apportion the amounts so allocated among the Owners as follows: (1) The total amount allocated to taking of or injury to the General Common Elements shall be apportioned among the Owners in proportion to their respective undivided interests in the General Common Elements. (2) The respective amounts allocated to the taking of or injury to a particular unit and/or improvements and Owner had made within his own unit shall be apportioned to the particular Condominium unit involved. (3) The amount allocated to consequential damages and any other takings or injuries shall be apportioned as the Association determines to be equitable in the circumstances. If an allocation of the Condemnation Award is already established in negotiation, judicial decree or otherwise, in allocating the Condemnation Award, the Association shall employe such allocation to the extent it is relevant and applicable. Any distribution of the Condemnation Award made pursuant to this subparagraph shall be made by checks payable jointly to the Owners and their first mortgagees. Upon acquisition by condemnation, unless the decree otherwise provides, the ownership and assessment interest of any Unit that has been partially or completely taken must be reallocated to the remaining unit in proportion to the respective allocated interest of the Unit before the taking. Any remnant of a unit remaining after part of a unit is, taken is thereafter a common element. e. Reallocation of Interests. Except as provided in Subsection d of this Article, if part of a Unit is acquired by condemnation, the Association must distribute the award to compensate the Owner for the reduction in value of the Unit and that Owner's interest in the Common Elements, whether or not any Common Elements are acquired. Upon acquisition by condemnation, unless the decree otherwise provides: (1) That Unit's ownership and assessment interests are reduced in proportion to the reduction in the size of the Unit; and (2) The portion of interests divested from the partially acquired unit is automatically reallocated to that Unit, and to the remaining Unit in proportion to the respective interests of that Unit before the taking, with the partially acquired Unit participating in the reallocation on the basis of its reduced interests. f. Limited Common Elements. If part of the Common Elements is acquired by eminent domain, that portion of any award attributable to the Common Elements taken must be paid to the Association. Any portion of the award attributable to the acquisition of a Limited Common Element must be divided among the Owners of the Unit to which that Limited Common Element was allocated at the time of acquisition. g. Distribution. The Association shall, as soon as practicable, determine the share of the Condemnation Award to which each Owner is entitled. Such shares shall be paid into separate accounts and disbursed as soon as practicable; provided, however, that in the event of a complete taking, such distribution shall be made in the same manner as is provided in Subparagraph 29 (b) hereof. h. Mortaaae Notice. The Association shall give timely written notice to each first mortgagee of the commencement of any -23- ~ '"...." #358406.,.." /01/93 15:42 Rec $135.00 lI...716 ,,,iJ_\I i a_l)a.'Iis,_F~~ !~i,,_~n t y .c::_l=r~~ ,_Doc u$.-.?? PG 591 condemnation or eminent domain proceedings, and shall notify the first mortgagees in the event of the taking of all or any part of the General Common Elements. i. Reoraanization. In the event a partial taking results in the taking of a complete unit, the Owner thereof automatically shall cease to be a member of the Association, and such Owner's interest in the General Common Elements shall thereupon terminate, and the Association, as attorney-in-fact for such Owner, may take whatever action is necessary, and execute such documents as are necessary, to reflect such termination. Any reallocation of ownership and assessment interests shall be confirmed by an amendment to the Declaration prepared, executed, and recorded by the Association. 30. Miscellaneous. a. Duration of Declaration. All of the provisions contained in this Declaration shall continue and remain in full force and effect until condominium ownership of the Common Interest Community and this Declaration are terminated, revoked or amended as hereinafter provided. b. Amendment and Termination. Any provJ.sJ.on contained in this Declaration may be amended, or additional provisions may be added to this Declaration, and condominium ownership of, the Common Interest Community amy be terminated or revoked by the recording of a written instrument or instruments specifying the amendment or addition, or the fact of termination and revocation, executed by' the owners, as shown by the records in the office of the Clerk and Recorder of Pitkin County, Colorado, of Condominium Units representing an aggregate ownership interest of one hundred percent (100%) of the General Common Elements, and first mortgagees whose liens encumber an aggregate ownership interest of one hundred percent (100%) of the General Common Elements; provided, however, that in no event shall the undivided interest of an owner in the General Common Elements be decreased without the unanimous consent of each owner and each first mortgagee. The consent of any junior mortgagees shall not be required under the provisions of this paragraph. The Association shall, at least ten (10) days prior to the effective date of any amendment to this Declaration, except for conditions imposed by the City of Aspen, notify all first mortgagees of record of such amendment. c. Effect of provisions of Declaration. Each provision of this Declaration and an agreement, promise, covenant, and undertaking to comply with each provision of this Declaration, and any necessary exception or reservation or grant of title, estate, right or interest to effectuate any provision of this Declaration, shall: (1) be deemed incorporated in each deed or other instrument by which right, title or interest in the Common Interest community or in any Condominium Units is granted, devised or conveyed, whether or not set forth or referred to in such deed of instrument; (2) by virtue of acceptance of any right, title or interest in the Common Interest Community, or in any Condominium Units by an Owner, be deemed, accepted, ratified, adopted and declared as a personal covenant of such owner and, as a personal covenant, shall be binding on such Owner and such owner's heirs, personal representatives, successors and assigns, and shall be deemed a personal covenant to, with and for the benefit of the Association, and not to, with or for the benefit of any other non aggrieved Owner; (3) be deemed a real property covenant by Declarant, for itself, its successors and assigns, and also an equitable servitude running, in each case, as a burden with and on -24- #358406 07/(~73 15:42 Ree $135.00 BK 7~PG Silvia Davis, Pitkin Cnty Clerk, Doc $.ik, 592 the title to the Common Interest Community and each Condominium Unit and, as a real property covenant and also as an equitable servitude, shall be deemed a covenant and servitude for the benefit of the Common Interest Community and each Condominium Unit; and (4) be deemed a covenant, obligation and restriction secured by a lien in favor of the Association burdening and encumbering the title to the Common Interest Community and each Condominium unit in favor of the Association. d. Protection of Encumbrancer. subject to the provisions of Paragraph 26 above, no violation or breach of or failure to comply with any provision of this Declaration, and no action to enforce any such provision, shall affect, defeat, render invalid or impair the lien of any first mortgage or other lien on any Condominium unit taken in good faith and for value, and perfected by recording in the office of the Clerk and Recorder of Pitkin County, Colorado, prior to the time of recording in such office, an instrument describing the Condominium Unit, and listing the name or names of the Owner of fee simple title to the Condominium Unit, and giving notice of such violation, breach or failure to comply; nor shall such violation, breach or failure to comply, or action to enforce, affect, defeat, render invalid or impair the title or interest of the holder of any such first mortgage or other lien, or the title or interest acquired by any purchaser on foreclosure of any such first mortgage or other lien, result in any liability, personal or otherwise, of any such holder or purchaser. Any such purchaser on foreclosure shall, however, take subject to this Declaration; provided, however, that violation or breaches or failure to comply with any provisions of this Declaration which occurred prior to the vesting of fee simple title in such purchase shall not be deemed breaches or violations hereof, or failures to comply herewith, with respect to such purchaser, that purchaser's heirs, personal representatives, successors or assigns. e. Supplemental to Law. The provisions of this Declaration shall be governed by and subject to the Colorado Common Interest ownership Act, and to all other provisions of law. f. Numbers and Genders. Whenever used herein, unless the context shall otherwise provide, the singular number shall include the plural, the plural shall include the singular, and the use of any gender shall include all genders. g. Reqistration bv Owner of Mailinq Address. Each owner shall register that Owner's mailing address with the Association, and, except for monthly statements and other routine notices which shall be personally delivered or sent by regular mail, all other notices or demands intended to be served on an Owner shall be delivered personally, or shall be deemed given when sent by either registered or Certified mail, postage prepaid, addressed in the name of the Owner at such registered mailing address. All notices, demands or other notices intended to be served on the Board of Directors of the Association or the Association shall be sent certified mail, postage prepaid, to CASTLE CREEK TOWNHOMES ASSOCIATION, c/o Douglas P. Allen, 600 East Hopkins, suite 302, Aspen, Colorado 81611, agent for service, until such address is changes by a notice of address duly recorded with the office of the Secretary of state of Colorado. h. Successors in Interest. This Declaration shall be binding on and shall inure to the benefit of the Declarant, the Association, and each Owner and the heirs, personal representatives, successors and assigns of each of them. i. Severability. Invalidity or unenforceability of any provision of this Declaration, in whole or in part, shall not affect the validity or enforceability of any other provision, or any valid and enforceable part of a provision of this Declaration. -25- #35840~/01/93 15:42 Ree $135.00r-:716 Sllvl_",_~a\o'ls, Pltkln Cnty Cler-k, Doe $.00 - ~'-__"___"'_'____ __. ___m,:____ PG 593 j . captions. The captions and headings in this Declaration are for convenience only, and shall not be considered in construing any provision of this Declaration. k. No Waiver. Failure to endorse any provision of this Declaration shall not operate as a,waiver of any such provision, or of any other provision of this Declaration. 1. Rule Aqainst Perpetuities. If any of the options, privileges, covenants, or rights created by this Declaration shall be unlawful, void or voidable for violation of the rule against perpetuities, such provision shall continue only until twenty-one (21) years after the death of the survivor of the now living descendants of all of the presently registered voters of the city of Aspen, Colorado. m. certificate of Identitv. There shall be recorded, from time to time, a certificate of identity which shall include the addresses of the persons then comprising the management body (directors and officers), together with the identity and address of the Managing Agent. Such certificate shall be conclusive evidence of the information contained therein, in favor of any person relying thereon in good faith, regardless of the time elapsed since the date thereof. ' n. Arbitration. In the event that a dispute or claim arises between the Unit Owners, that dispute or claim shall be submitted to resolution pursuant to arbitration under the rules and regulation of the American Arbitration Association. Any decision rendered pursuant to such arbitration may be entered as a judgment in the District Court of Pitkin County and shall be enforceable in the same manner as a judgment of a court of law. IN WITNE~Si.HWHEREOF, Declaration this -.!e:E.'day of has duly executed this , 1993. L - STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged ,before me thfs7t# of ~-'AA(I./ ,1993, by David Muckenhirn. \\'V'I"''''~ti \\\ A. 1/., witness my hand and official seal. ",\\~..a'\l:.~::~~. 4,;"'/"" ~ (;) .".. ........ '\t.-~,.;,. My eo_'ss'on expires, 1~t~:y<l .".lie ~C~'#r Address: day STATE OF COLORADO COUNTY OF PITKIN day The foregoing of CC~ Wi tness my hand ~ ~ #358406 ~)1/93 15:42 Rec $135.00 B~t~ PG 594 Silvia Davis, Pitkin Cnty Clerk, Doc-$.()() . EXHIBIT "I" TO CONDOMINIUM DECLARATION FOR THE PINE GLEN TOWNHOUSES CONDOMINIUMS The undivided in the General Common Elements, Common Expenses, and Common Surplus are as follows: Units West Unit East Unit mjh/re/bartlet.dec Percents 50% 50% .,.