HomeMy WebLinkAboutLanduse Case.CO.520 E Hyman Ave.A56-88
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CASELOAD SUMMARY SHEET
city of Aspen
DATE RECEIVED: 9/30/88
DATE COMPLETE:
PARCEL ID AND CASE NO.
2737-182-15-005 56A-88
STAFF MEMBER: c.,,,,~
Condominiumization
PROJECT NAME: Pitkin Center Buildina
Project Address: 520 East Hvman
Legal Address: Lots 2 & 3. pitkin Center Subdivision
APPLICANT: Grea Kavne
Applicant Address: 315 S. Galena
REPRESENTATIVE: Same
Representative Address/Phone: 5-1730
PAID: YES
NO
AMOUNT: $760.00
TYPE OF APPLICATION:
1 STEP:
><..
2 STEP:
P&Z Meeting Date
PUBLIC HEARING:
YES NO
YES NO
YES @ ~....
YES @
paid:
Date:
VESTED RIGHTS:
CC Meeting Date {\Q\} ,,-\
PUBLIC HEARING:
VESTED RIGHTS:
Planning Director Approval:
Insubstantial Amendment or Exemption:
REFERRALS :
X City Attorney
'i-. city Engineer
Housing Dir.
Aspen Water
City Electric
Envir. Hltb.
Aspen Consolo
S.D.
Mtn. Bell
Parks Dept.
Holy Cross
Fire Marshall
Roaring Fork
Roaring Fork
Energy Center
School District
:Rocky Mm Nat Gas
State Hwy Dept(GW)
State Hwy Dept(GJ)
Building Inspector
Other
DATE REFERRED:
loJIII~
INITIAIS:
N
FINAL ROUTING:
DATE ROUTED:
INITIAL:
_ City Atty _ City Engineer _ Zoning
_ Housing Other:
Env. Health
FILE STATUS AND LOCATION:
#347~'08/12/92 14:45 Rec $10.0~K
Silvia Davis, Pitkin Cnty Clerk, Doc
685 PG 959
$.00
Recorded at
Reception No.
o'clock .m.
Recorder
RECORDING REQUESTED BY:
WHEN RECORDED RETURN TO':
Douglas P. Allen, Esq.
600 East Hopkins, suite 302
Aspen, Colorado 81611
SUBDIVISION EXEMPTION AGREEMENT
FOR
PITKIN CENTER CONDOMINIUMS
WHEREAS, pitkin Center Ltd. ("Applicant") is the owner of a
parcel of real property in the City of. Aspen, Pitkin county,
Colorado, described as follows:
Lots 2 and 3, Pitkin Center Subdivision (a lot split) as shown
on the Plat thereof recorded February 22, 1983, in Plat Book
14 at Page 36, County of Pitkin, State of Colorado
and
WHEREAS, the foregoing real property contains one three-story
building; and
WHEREAS, Applicant requested a
condominiumization of the existing
property to be known as Pitki.n Center
subdivision exemption for
building on the subject
Condominiums; and
WHEREAS, Units E....1, E-2, E-3, and E-4 are restricted to
employee use pursuant to the terms of Occupancy And Rental Resale
Deed Restriction And Agreement recorded in Book 553 at Page 249 in
the office of the Clerk and Recorder of Pitkin County, Colorado,
Units B-1, B-2, 1-A, 1-B, 1-C, P-1, P-2, 2-A, and 2-B are used for
commercial business purposes and Units 3-A and 3-B are used for
free market residential purposes;
WHEREAS, Applicant has paid $6,025.00 for the affordable
housing fee in 1989; and
WHEREAS, the City Council determined at its regular meeting
held on November 14, 1988, that such exemption was appropriate and
granted the same, subject, however, to certain conditions as set
forth below.
NOW, THEREFORE, Pitkin Center Ltd. and the City of Aspen agree
as follows:
(1) Applicant shall record with the Pitkin County Clerk &
Recorder contemporaneously herewith, that certain "Condominium
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#34, ,3 08/12/92 14:45 Rec $10. }BK 685 PG 960
.~i~vi.~Da,:,~s'.f"~tkin Cnty Cl:",-~,_Doc: $.00
Declaration" for Pitkin Center Condominiums dated July
1992, attached hereto,
,
(2) Applicant shall comply with the restrictions as contained
in the Condominium Declaration;
(3) At the time of initial marketing of individual employee
units, Applicant shall provide all existing tenants in the
units an unassignable option to purchase their uni tat the
offering price. Notice of said offering price as verified by
the Aspen/Pitkin County Housing Authority, or its successors
shall be given in writing to each tenant and each tenant shall
have ninety days in which to purchase their unit at said
price, with a copy of said notice addressed to the housing
authority. This option shall not apply in the event employee
units are offered either for sale as a group or together with
commercial space in the building;
(4) The Applicant shall join any future improvement district
which may be formed for the area in which the property is
located;
(5) This Agreement shall bind the successors and assigns of
the respective parties hereto.
Dated this ~l?V day of July, 1992.
PITKIN
CENTER, LTD..
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Bennett, Mayor
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Edward M. Caswall, City Attorney
I, Kathryn S. Koch, do certify that the foregoing statement of
Subdivision Exemption for condominiumization of Pitkin Center
Condominiums was considered and approved by the Aspen City Council
at its regular meeting held November 14, 1988, at which time the
Mayor was authorized to execute the same on behalf of the city of
Aspen.
Ml\269.07312
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EXHIBIT A
(Attached to Condominium Declaration for
Pitkin Center Condominiums)
Schedule of Unit Owner's percentage of ownership interest ("Allocated Interest") in the Pitkin
Center Condominiums is as follows:
Unit Numbers
Percenta~e Ownership Interest
BI
B2
PI
P2
IA
lB
IC
2A
2B
3A
3B
EI
E2
E3
E4
7.82
8.54
2.73
2.68
7.62
7.24
6.25
5.17
17.98
9.77
12.48
2.93
2.93
2.93
....b.23.
100.00
TOTAL
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MEMORANDUM
TO:
Aspen City Council
FROM:
y, -I). 7-
Robert S. Anderson, Jr., City Manager (U t:.---
cindy Houben, Planning Office 0-{
Consent Agenda-Pitkin Center Building/
Condominiumization
THRU:
RE:
DATE:
November 14, 1988
----------------------------------------------------------------
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SUMMARY: The Planning Office recommends approval of the
condominiumization of the Pitkin Center as a consent agenda item,
with conditions of approval as listed below in the recommended
motion section.
REQUEST: To condominiumize the Pitkin Center Building.
APPLICANTS: Pitkin Center, LTD
LOCATION: 520 East Hyman: Lots 2 and 3, Pitkin Center
Subdivision.
ZONING: CC, Commercial Core
DESCRIPTION OF
condominiumize the
building includes the
Office, residential
penthouse) .
THE PROPOSAL: The applicants wish to
existing pitkin Center structure. The
following mixed uses: Commercial (retail),
(4 employee units and 1 free market
REFERRAL COMMENTS:
Engineering: In a
Engineering Department,
not have any concerns
Pitkin Center.
memorandum
she notes
regarding
from Elyse Elliott of the
that the Engineering Dept. does
the condominiumization of the
The Planning Office and Engineering Dept. would like to
supplement this memorandum with some additional standard items.
The applicant should be willing to join in any improvement
districts formed for the area and the applicants shall submit a
Plat which meets all plating requirements for condominiumization.
This plat should be submitted to the Engineering Dept. for review
and then recorded with the Clerk and Recorder.
STAFF COMMENTS:
Section 7-1008 of the Land Use Code provides the standards for
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condominiumization. Platting requirements are the only
requirement for the condominiumization of commercial space. There
are standards, however, for the condominiumization of residential
space in the Pitkin Center. The applicant has addressed these
standards as follows:
a. Purchase Rights of Existing Tenants:
The applicants have committed that at the time of initial
marketing, they will provide all existing tenants with a 90
day, non assignable option to purchase their unit at the
preliminary market value.
b. Minimum Lease Allowed:
In discussions with the applicants, it has been decided that
they will no longer request a waiver from the j:; month V
minimum lease. restrictions for the free market penthouse
unit. "-'I'ne- apiil'Tc:"<3.nts agree that the 4 employee units will
continue to be restricted by the Housing Authority
guidelines.
c. Affordable Housing Impact Fee:
The applicants agree to pay the affordable housing impact
fee for the 2 bedroom, free market penthouse. This $6,025
is to be paid at the time the applicants file a condominium
plat. There is no affordable housing impact fee required
for the 4 deed restricted employee units.
RECOMMENDATION:
The Planning Office recommends approval with the conditions as
outlined in the recommended motion.
RECOMMENDED MOTION:
"I move to approve the condominiumization of the pitkin Center
Building with the following conditions of approval:
\
1. The applicants shall submit a plat to the Engineering
Department which meets all code requirements for a
Condominium Plat. This plat shall be recorded in the
Clerk and Recorder's office.
2. The applicants shall agree to join any future
improvements district which may be formed for the area
in which the Pitkin Center is located.
3.
The applicants shall pay $6,025.00 for the Affordable
Housing Fee at the time of recordation of the
Condominium Plat. II -
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CITY MANAGER COMMENTS:
ch.pitcenter
3
~ AT.l'AC1IMml' 1. ~
lAND USE APPLICATIOO FClIlM
1.)
2)
Project Name Pitkin C..nr..r B11i1 ni ng' connomi ni 11mi "rlH on
Pronect I.oca....on ~ 2 0 ~ t- H
J .~ 2__ r.n~ ymnn~ ~Rppn
Lots 2 and 3, Pitkin Center Subdivision. Pitkin Countv, Colorado
(iIrlicate street address, lot & b10ck IUlJJber, lega1 description where ' .
apprq:>riate)
.,
. ~ .
3) Present Zor1.iIq CC
4) lot Size 6.000 Sq_ Ft.
5) 4Plicant's Name, l\ddress & :R1one it Greq Kavne, 315 South Galena
Aspen. CO 81611
(303) 925-1730
6) Repl:esentative's Name, 1\ddress &:R1one it Greg Kayne. 315 SOl1rh ~rl1..nrl
Aspen, CO 81611
(303) 925-1730
7) Type of Aw1ication (p1ease dleck all tl,Jat apply):
COn:litialal Use _ Carxlepb.la1 SPA _ COocepblal. Historic Dev.
_ Sp<>r!i;> 1 Review
Final SPA
Final Historic Dev.
8040 Gr:eenl.ine
_ Carxlepb.la1 roD
Final roo
Minor Historic Dev.
"
_ stream MiRgin
Historic Dem:>1ition
M:Juntain view Plane
.
SUbdivision '
_ Historic Designation
. ~tion
_ lot Split:jIot Line
1\dju"Lu.:..t
_ Text/MaP .Amerx3ment
--- 66x-,
_ Go:; Allotment
_ Go:; ExelIpti.on
8) Description of Exist.i1XJ Uses (rwmlv>r am type of exi.stinq st:ruc:tm:es;
approximate sq. ft.; )"0........... of l-:h.<A.W:>; any previ.oc&s approvals granted to the
prcparty) .
1 Structure, 12,000 So.Ft., mix of Commercial. Office. Residential
and Emplovee Housinq. Granted GMP allocation in ]986
9)
Description of Devel.~.t Awl-ication
Condominiumization of existing hui1ning
(12 f' ;I/L_P~) ?
1.0) Have yaI attadJed the followin:J?
~ Response to Att:a.1....,.tL 2, Mi.ninJJm Sn!-mi=i.cn O::.nt:ents
~ Response to Att:ad1ment 3, Specific Sn!-mi=ion O::.nt:ents
~ :'" '{'ollse to At:t:ad1ment 4, Review st:aImrds far Your Awlication
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Greg Kllyne
Seplernber27,1966
Cindy Houben
CHy of Aspen Planning Department
130 Soulh Glllenll
Aspen, CO 81611
DeorCindy,
ASllconlrllct PurchllseroflhePitklnCenlerBuilding, I will be
represenlinglhepllrtnershipinthecondominiurniZlltlonoflhebuildi"g.
Addressing Attllchm1!nt 2, Pllrographs 1-5.
PllrogrllPh 1:
The individuels Involved In the partnership tlfe:
JllmesVlllerio
100 Drokeslllndlng Road, Suite 245
Greenbrlle, (It. 94904
(415) 461-8600
H. M.loud
700 North Woodward
Birmingham, HI 46011
(313) 646-6100
Dllvldllvlngslon
1003 Porchment Drive South Eost
Gfllnd Rapids, NI 49506
(616) 942-4222
GregKllyne
315 South Gllleno
Aspen, CO 61611
925-1730
(1)
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PGnlgraph 2:
The legll1 description is, lots 2 & 3, Pitkin Center Subdivision, P1tkin
County,ColOr8do.
The subject property is locoted 0\520 Ellst Hymeln, Aspen, Colorado.
Paragraph 3:
EnclosedisllcopyoflheTltlelnsurllnceCommltmenlandoletterfrt'lm
lhecurrenlownersoulhorizingourllPplicotlon1orcondornlnlumizlllton.
Pllnlgnlph4:
Enclosed 18 II B 1/2" X 11" viCinity map with the subject property locllted
wlthin the City of Aspen.
PllrGQrtlph 5:
Enclosedllrsllll11pproprilltellndpertinanlitemsrequestedonAtlllchments
3 Ilnd 4, of the CondominlumiZlltlon opplicotion pockllge.
IpenJonllllyw11lbehllndlingthlsmlltlerllndlll1cOrr8sPOndenceshouldbe
directed to me.
Sincerely.
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Gregl(lIyne
(2)
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Greg Koyne
September 21. 1966
(lndyHouben
City of Aspen Planning Depllrtmenl
130SouthGIllenll
Aspen, CO 61611
RE: PitkIn Center Building CondominlumlZCltion
DellrClndy,
Addressing AttllChment -3, Pllrllgrllphs 1-2.
Pllrllgrllph 1:
Improvemenl survey enclosed.
Pllrogn:lph2:
Secllonll:
At t1me of ioWal morketlng, we wl11 provIde oil existIng resldentl1l1
tenants with II ninety-dOy. nOnllssignable option to purchose their unit 01
the preliminary mlln::et volue. In IlddiUon, lit the time of recording the
Condominium Plot, we will record II ninety doy exclusive right of first
refuslll,fortheexlstingresldentilll tenllnts 10 purchl!lse lhier unit in the
event thllt obonll fide offer to purchose Is Ilccepled by lhe owners.
5ectionb:
Regllnling the four employee housing units, we w11l fully comply with the
minimum six month leose requirement. Regonling the top floor two
residenhlil units, we beHeve thot those units llre eKempt from the
minimum 51K month lellse restriction becl!luse we comply with 1!I111tems
on Attl!lchment 4, PM"l!Igrtlph l-b-2, (0) through (d). Plellse see the
following:
(1)
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Addressing Attochment 4, Pllrogroph 1 ~b-2:
Section II: Host otherresidentilll units in the downtown llr811 lire either,
notrentlll restrtctedorful1ydeedrestrictedemployeehous1ng, The
fallowing is 0 summllry of the housing in the immedillte neighbartlOOd:
IWII.
IndependenceSQuore
Aspenhof
Aspenblock
AspenSQullre
ChlltelluAspen
700 E.Hymon
PltklnCenter
CilyPlllZO
LOCATlQf1
1.5 blocks South
1 block South
.5 block SW
1.5 blocks SW
1 block South
3 blocks Eost
on sUe
.5 block North
.OF UNITS .ug
33 Hotel
6 Shortllong tenn
6 Long/short-tenn
ollowed
105 Condo/Hotel
22 Short-tenn
6 Second tlOme/no RJ/.
4 Emp.Housing
4 Emp.Housing
Section~ The current owners of the building, hove been using the
resident111lunitonllPllrt-timebllslsllndrenlingtheunilduringpellk
short-lennrentlll periods.
Seclion c. The building is in the Commen:tlll Core, 1/2 block from the
Hymlln Ayenue Hllll, 2.5 bloctcs from Ruby Pllf1< ond 3 blocks from the bose
of Aspen HountClin.
Section d. The Aspen Arell Comprehensive PIlln des1gnetes the Centrol
Arell ,0 011 ow the primcry use of Illnd for tourist commercilllllCtiyity
thlltlsessentillltothecommunlty'seconomicectivity:
Addressing Attllchment 3, Sect10nc:
We feel thllt the condom1niumizlltion will not hllye llny impllct on
llffOrdllblehousing,becllusethefreemllrketresidentiolunitsorecurrently
used by the owners ond ore not port of the loclll houslngmOrket.
Sincerely,
~7 ,.e,,~
Greg Koyne
(2)
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@!Dyers 'Ptle
Insurance @rPoration
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
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COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
1. Effective date: 01/25/88 AT 8:00 A.M.
2. Policy or policies to be issued:
(a)ALTA owner's Policy-Form B-1910
(Rev. 10-11-70 & 10-11-84) or 10/21/87
PROPOSED INSURED: JAMBS VALERIO AND H.M.
(b)ALTA Loan Policy,
(REV. 10-17-70 & 10-11-84) or 10/21/87
PROPOSED INSURED:
TO BE DBTERMINED
(c)Alta Loan Construction Policy, 1975
(Rev. 10-17-84)
PROPOSED INSURED:
Case No. PCT-1812 C3
Amount $ 2,700,000.00
Premium $ 1,747.25
LOUD
Amount $ 2,160,000.00
Premium $ TBD
Amount $
Premium $
Tax Cert. $ 5.00
3. Title to the FEB SIMPLE estate or interest in the land described or
referred to in this Commitment is at the effect1ve date hereof vested
1n:
PITKIN CBNTER JOINT VENTURE, A JOINT VENTURB
4. The land referred to 1n th1s Commitment 1s descr1bed as, follows:
LOTS 2 AND 3, PITKIN CENTER SUBDIVISION (A LOT SPLIT), as shown on
the Plat thereof, recorded February 22, 1983 1n Plat Book 14 at Page
36. COUNTY OF PITKIN, STATB OF COLORADO.
Countersigned at: PITKIN COUNTY TITLB, INC.
601 E. HOPKINS
ASPEN, CO. 81611
303-925-1766
or agent
Schedule A-PG.1
Th1s Comm1tment 1s 1nva11d
unless the Insur1ng
Provisions and Schedules
A and B are attached.
,
'10rm 100 Lhho In U.S.A.
"~lCJO.CCl4112
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l1wyerslide
Insurance @rporation .,~,
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
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. Release by the Public
Deed of Trust from
To the Public Trustee
Por the use of
To Secure
Dated
Recorded
Reception No.
2. Release by the Public
Deed of Trust from
To the Public Trustee
Por the use of
To secure
Dated
Recorded
Reception
3. Deed from
To
Trustee of;
:PITKIN CENTER JOINT VENTURE. A TEXAS
JOINT VENTURE
of the County of Pitkin
:ASPEN SAVINGS AND LOAN ASSOCIATION
: $115.000.00
:DECEMBER 10. 1987
:DECEMBER 11. 1987 IN BOOK 552 AT PAGE 804
:295693
Trustee of the.
: PITKIN CENTER JOINT VENTURE. A TEXAS
JOINT VENTURE
of the County of Pitkin
ASPEN SAVINGS AND LOAN ASSOCIATION
$1.725.000.00
DECEMBER 10. 1987
DECEMBER 11. 1987 IN BOOK 552 AT PAGE 771
295691
:PITKIN CENTER JOINT VENTURE. A JOINT VENTURE
:JAMES VALERIO AND H.M. LOUD
NOTE: If the proposed insured hereunder is other than james Valerio
and H.M. Loud. Pitkin County Title. Inc.. 'lIIUst be notified
and additional requirements and/or exceptions may be added.
4. Certificate of Nonforeign Status of Transferor signed by an .Officer
of PITKIN CENTER JOINT VENTURE.
5. Evidence Satisfactory to the Company that the Real Estate Transfer
Tax as established by Ordinance No. 20 (Series of 1979) has been
paid or exempted.
6. Deed of Trust from : james Valerio and H.M. Loud
to the Public Trustee of the County of Pitkin
for the use of : Parties to be determined
to secure : S2.160,OOO.00
NOTE: The Company hereby reserves the right to make additional
requirements and/or exceptions as deemed necessary upon naming
proposed insured as lender.
"
of a
This commitment is invalid unless Schedule B-Section 1 PG.1
the Insuring Provisions and Schedules Commitment No. PCT-1812 C3
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Form 100 litho in U.S.A.
J35-0-10ll-004112
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~wyers Jtle
Insurance @rporation "
NATIONAL HEADQUARTERS
RICHMONO, VIRGINIA
SCHEDULE B-SECTION 2
EXCEPTIONS
The policy or policies to be issued will contain exceptions to the
following unless the same are disposed of to the satisfaction of the
Company:
1. Rights or claims of parties in possession not shown by the public
records.
2. Easements. or claims of easements. not shown by the public records.
3. Discrepancies. conflicts in boundary lines. shortage in area.
encroachments. and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the pUblic
records.
4. Any lien. or right to a lien. for services. labor or material
heretofore or hereafter furnished. imposed by law and not shown by
the public records.
S. 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 assessments. charge or
lien imposed for water or sewer service. or for any other special
taxing district.
7. Reservations and exceptions as contained in Deeds from The City Of
Aspen. recorded in Book 59 at Page 56. in Book 59 at Page 157. and
in Book 157 at Page 212 as follows:
"Provided. that no title shall be hereby acquired to any mine of
gold. silver. cinnabar or copper or to any valid mining claim or
possession held under eXisting laws".
8. Easements and Rights of Way as shown on the Plat of Pitkin Center
Subdivision (A Lot Split). recorded February 22. 1983 in Plat Book
14 at Page 36.
9. Building Encroachment as shown on the Plat of Pitkin Center
Subdivision (A Lot Split). recorded February 22. 1983 in Plat Book
14 at Page 36.
10. Terms. conditions. obligations and provisions of Statement of
Exception from the Full Subdivision Process. recorded February 22.
1983 in Book 440 at Page 863.
,
11. Terms. conditions. obligations and provisions of Occupancy arid
Rental Resale Deed Restriction and Agreement as set forth in
instrument recorded December 17. 1987 in Book 553 at Page 249.
This commitment is invalid unless
the Insuring Provisions and Schedules
A and B are attached.
Schedule B-Section 2 PG.l
Commitment No.PCT-1812 C3
__'_"_.__..'_.1'_..__._..'_..'_..'_..'_..1_..1_..'_..__'__"_..'_.._..'__._..'_..'_..'_..'_.11_..'_..'__.'__.'_..'_
;:orm 100 Litho in U.S.A.
jJs,.o..1Q0..004112
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Inswance @Poratlon ~,
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NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
SCHEDULE B-SECTION 2
CONTINUED
__UIa'II
Exceptions numbered
.
NONE
are hereby omitted.
The awner's Policy to be issued, it any, shall contain the tollowing
items in addition to the ones set torth above:
(1) The Deed ot Trust, it any, required under Schedule B-Section 1.
(2) Unpatented mining claims; reservations or exceptions in patents
or in Acts authorizing issuance thereot; water rights, claims or
title to water.
>
This commitment is invalid unless
the Insuring Provisions and Schedules
A and B are attached.
Schedule B-Section 2
Commitment No.PCT-1812 C3
orm 100 litho in U.S.A.
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Insurance @pOration
NATIONAL HEADQUARTERS
RICHMOND, VIRGINIA
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COMMITMENT FOR TITLE INSURANCE
LAWYERS TITLE INSURANCE CORPORATION, a Virginia corporation, herein called the Company, for valuable
consideration, 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 subject to the provisions
of Schedules A and B and to the Conditions and Stipulations hereof,
This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or
policies committed for have been inserted in Schedule A hereof by the Company, either at the time ofthe 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 terminate six (6) months after the effective date hereof or when the policy or
policies committed for shall issue, whichever first occurs, provided that the failure to issue such pOlicy or policies is not the
fault of the Company. This Commitment shall not be validor binding until countersigned by an authorized officer or agent.
IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed, to become valid when
countersigned by an authorized officer or agent ofthe Company, all in accordance with its By-Laws. This Commitment is
effective as of the date shown in Schedule A as "Effective Date."
CONDITIONS AND STIPULATIONS
1. The term "mortgage," when used herein, shall include deed of trust. trust deed, or other security instrument,
2, If the proposed Insured has or acquires aCWell 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 shaH fail todisclose such knowledge tothe Company in writing. the Company shall be relieved
from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced
byfailure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if
the Company otherwise acquires actual knowledge of any such defect lien, encumbrance. adverse claim or other
matter, the Company at its option may amend Schedule B of this Commitmentaccordingty, but such amendment shall
not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and
Stipulations,
3, Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties
included under the definition of Insured in the form of policy ,or poliCies committed for and only for actual loss
incurred in reliance hereon in undertaking iogood faith (a)to comply with the requirements hereof. or(b) toeliminate
exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this
Commitment, In no event shall such liability exceed the amount stated in Schedule A for the policy or policies
committed for and such liability is subject to the insuring provisions and the Conditions and Stipulations and the
Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are
hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein.
4, Any action or actions or rights of action that the proposed Insured may have or may bring against the Company
arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this
Commitment must be based on and are subject to the provisions of this Commitment.
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PlePEBTllS
Aug. 23, 1988
Mr. Greg Kayne
Ute City Brokers
Aspen, CO 81611
HAND DELIVERED
Dear Greg:
This is a statement of our consent that your
clients, Messers. Valerio and Loud, be able to
pursue condominiumization of the Pitkin Center
Building at 520 E. Hyman. We have mutually
agreed upon a contract whereby they will purchase
the building from us, and they have our permission
to do everything necessary to condominiumize the
property during this "contract" period except the
filing of the Condominium Map.
Sincerely,
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{Jim Mart:in
Pitkin Center Joint Venture
(303j925-8310 . 215 S, Monarch
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P.O. Box 10502
. Aspen, Colorado 81611
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MEMORANDUM
To:
Cindy Houben, Planner A(7
Elyse Elliott, Engineer ~
October 28, 1988
From:
Date:
Re:
Pitkin Center Building Condominiumization
=====~====================================================
After reviewing the above application and making a site
inspection, the Engineering Department has no problems with the
condominiumization of this building.
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MEMORANDUM
TO:
City Attorney
city Engineer
FROM:
Cindy Houben, Planner
Pitkin Center Building Condominiumization
Parcel 10 # 2737-182-15-005
RE:
DATE:
October 11, 1988
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Attached for your review and comments is an application from Greg
Kayne for Condominiumization approval for the Pitkin Center
Building which is located at 520 East Hyman Avenue.
Please review this material and return your comments no later
than November 4, 1988 so that r have time to prepare a memo for
the City Council.
Thank you.
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ASPEN/PITKIN PLANNING OFFICE
130 S. Galena street
Aspen, Colorado 81611
(303) 925-2020
October 11, 1988
Greg Kayne
315 S. Galena street
Aspen, CO 81611
RE: Pitkin Center Building Condominiumization
Dear Greg,
This is to inform you that the Planning Office has completed its
preliminary review of the captioned application. We have
determined that your application IS complete.
We have scheduled your application for review by the city Council
on November 14, 1988. The Friday before the meeting date, we
will call to inform you that a copy of the memo pertaining to
your application is available at the Planning Office.
If you have any other questions, please call Cindy Houben, the
planner assigned to your case.
Sincerely,
Debbie Skehan
Administrative Assistant