HomeMy WebLinkAboutcoa.lu.su.Aztec Condos.1976
~~ ."
REcorded At 9 :27'''"'"'' March 16, 1976
,~,'
REception no ,182122 Julie Hane
REcorc.er
BOOK 309 rAttanS
SUBDIVISION IMPROVEMENTS AGREEMENT
AZTEC CONDOMINIUMS
THIS AGREEMENT, made and entered into this~~ay of
February, 1976, by and between GEORGE C. PERREAULT, R. SHELDON
GENTRY (Subdividers) and THE CITY OF ASPEN, COLORADO, a munbipal
corporation (City),
WIT N E SSE T H
WHEREAS, Subdividers hold record title to a parcel of land
situate in the City of Aspen, County of Pitkin, State of Cclorado,
to wit: Lots 1, 2 and 3, Block 1, Connor's Addition, to the City
and Townsite of Aspen; and
WHEREAS, Subdividers have submitted to City for apFroval,
execution and recording a subdivision plat of the above-described
property, such subdivision to be known and designated as "l\_ztec
Condominiums"; and
WHEREAS, the City has fully considered such subdivision
plat, the proposed development and the improvement of the subject
property shown thereon, and is willing to approve, execute and
accept said plat for recordation upon the agreement of Subcividers
to the matters hereinafter described, which matters are deemed
necessary to protect, promote and enhance the public welfare; and
WHEREAS, Subdividers and the City wish to reduce said
agreement to writing.
NOW, THEREFORE, in consideration of the premises, the
mutual covenants herein contained, and the approval, execution and
acceptance of said subdivision plat by the City for recording,
the parties hereto hereby agree as follows:
1. Subdividers covenant and agree to and with the City
that they will affirmatively consent to and join in the formation
of any special improvement district, encompassing all or any part
,,-.,
/",""
~..,j'\_,.;.:;'"
~"'.~
BOOK 309 P1GE609
of the Aztec Condominiums subdivision, that may hereafter be
proposed or formed for the construction of street improvements,
drainage improvements or buried electrical improvements. Sub-
dividers hereby waive and further covenant and agree to waive any
right of protest against the formation of any such district.
2. In the event that the City, at any time or from time
to time, shall construct or install any street improvements, whicL
improvements service or improve a general area including the
lands within the Aztec Condominiums subdivision, Subdividers
agree, upon demand, to payor reimburse the City for that portion
of the actual cost of such improvements which is properly allo-
cable to said subdivision, provided, however, that the City shall
be entitled to such payment or reimbursement only if such improve-
ments are constructed or installed over an area which includes
at least the following described minimum area, to-wit:
Either Dean Street from Monarch Street to Aspen
Street or Monarch Street from Dean Street to
Juniata.
Subject always to the minimum area requirement set forth
above, the City shall have the right to construct or install
such improvements in phases or increments, e.g. curbs and gutters
in one year and sidewalks in a subsequent year, and Subdivider
shall payor reimburse the City for each successive phase or
increment. Provided, however, that improvements installe~ during
the initial construction, i.e. curb, gutter and sidewalk, shall
not be charged to Subdividers.
3. The covenants and agreements of the Subdividers here-
in shall be deemed covenants that run with the land, shall burden
the land included within said subdivision, and shall bind and be
- 2 -
........." ,_~Af-' ._
1"",
~
BOOK309 ME610
specifically enforceable against all subsequent owners thereof,
including Subdividers, their heirs, personal representativEs,
successors in interest and assigns.
4. City acknowledges receipt from Subdividers of the sum
of $9,462.20 as full satisfaction and discharge of' Subdividers'
obligations under the applicable subdivision ordinance to pay cash
in lieu of the conveyance of land to the city for public use pur-
poses.
5. Upon execution of this Agreement by all parties here-
to, City agrees to approve and execute the final plat of Aztec
Condominiums and accept the same for recording in the real property
records of Pitkin County, Colorado, upon payment of recording fees
and costs to City by Subdividers.
iN WITNESS WHEREOF, the parties hereto have executej this
year first above written.
CITY OF ASPEN
.-.~,.
-7::--<:--
, Mayor
...i 14A:z;;)
COUNTY OF PITKIN
)
) ss.
)
The foregoing was acknowledged before me this~~~day of
February, 1976, by George C. Perreault and R. Sheldon Gentry.
Witness my hand and official seal.
>,~\);;~~:~;~~/~I~~J.on expires:
.,.,\ ~~ V'<"":;j~,~.!;...~, 'V yo. .,~
'-... ",; .0 "'. ..,<, ',"'. . t--' .~, .',
:':;':-V,4.\~'-~;~:';::" ". ~ ~ ':,'"
#,~(;::r /,,:,.' ~',. ~~", ". C\ ~
'~c'J .';" q.",..l""..r ."
~2 \i/;:.e ':t ;; j g~ '~:;/:1':<':
-> '. 'l .":;, . lI.,'. c'"
:\,~v.:;:~ '~::'ti;....~~~~ :~f-"<;":';~'::'it:,::':
~,,"~' I ,., """"ic({l>" :\' . ',.->,"1',""
-',- ,~, ,3-:"~'. ,.."',......",/}.;;:i)';:!:":;::,',
~~I~htlt,ay.,h\ .' "j,,\(?'::,,:':
';;'ii'
o2j 0' /8l?
-1:v&vaJ~~
~~
- 3 -
, 'A
/o.,,~x.: ,,...r'-._~, '...
1"",
r->,
BOOK 309 PACE 611
STATE OF COLORADO
)
) ss.
)
COUNTY OF PITKIN
The foregoing was acknowledged before me this~~~ay of
February, 1976, by Stacy Standley, III, as Mayor and Kathryn S.
Hauter as City Clerk of the City of Aspen.
Witness my hand and official seal.
My commission expires: LZ;t~ dc;,::r~(,;";t',iii"",
,,>,\',1' ,L,U ,I J~~' 'f';,,..,"::,:,,\.:
'~, :",-" :, ;"';~;t:il(~.,'llll""~';:_:;;';_,.
~~{::~~~~;:!;ff~'~:?!0~t~:,
Not[ry'7-",,," ." t::_ ..l' ,;-'
i'!I~:3{~")l~ j 1; ) ~ j':i
,,-!,.,)~,;, -z./,4l. .':'" ~
-'. ::'~'~/.i!..~,~~q;:~~:.~.~~~ ':..$'
'r;~. 'J ,~~_",",': ';,;) . "",
'II! I 0- :,' ;",....
1!llj'nHf'~.\\\ ,
- 4 -
1"""\
,-'
MEMO
TO: CITY COUNCIL
FROM: DAVE ELLIS ~~
CITY ENGINEER~Z--
DATE: February 4, 1976
RE: Aztec Condominium Subdivision
Final Plat & Agreement
The engineering department reconunends final
plat approval subject to the fOllowing conditions:
1) "jMinor boundary description problem with
previous survey be satisfactively resolved,
and survey ties be included for the property.
2) Statement of subdivision be amended to include
grant of sidewalk easement and reference to
subdivision agreement.
The subdivision agreement should include the cash
payment in lieu of land dedication which has been
established at $9,462.201 the land value was
vertified by a sale dated January 2, 1975. In
addition to the dedication payment the following
two standard conditions should be included:
1)", The applicant agrees to join any future
improvement districts formed for the purpose a
of constructing street improvements(including
sidewalk, curb, gutter or paving) or under-
grounding of overhead utility lines.
2) The applicant agrees to reimburse the city for
his proportionate share of the cost of the a~ove
improvements should the city elect to constr-~ct
them without the formation of a special
assessment district.
(cont 'd)
_t..e
~ic lleCl.rins
==mtry-Perrault
~~eliminary Plat
::Aztec Condom.)
j
'Motion
--
.....
.:!oIumbine
-Preliminary Plat
./
'.c:Mot.ion
- 'Clarendon
.,.Final P lat-
-:..re-approvaI
J
',. 110tion
Planni", and Zoning
,....,., January 6 1976
ha:Ve .to represent the whole thing that we feel at e,very
public hearing that com,esup. What: has been pres.:'!nted
and what will be presented to them is .the .planning
officep:!:'esentation of thedownzoning. Where does ours
come in that the people are coming into a Public hearing
and we haveh'tmade a position and had you prepare a
position so that ours is p~esented as equal or as same
as or in support of. If we go into a public hearing,
and if this is what you are going to present at t"e
public hearing---
Jack, can we go on and do the other agenda items and
if we have time come back to this.
Verbatim ended.
I
;
I
.!
Clark explainecj that this isa public hearing for the
Gentry-Perrault, Aztec Concjominiums. Jack Walls repre-
sentedthe project~ Conceptual approval of the project
hCl.s been given. This is a hearing on .the prelininary
plat. One of the concerns of some of the Planning and
Zoning members and the Council members was whether
thE!re could be a. possiblity of a door gain and .there
is no possiblity without building additional stairways
of getting additional doors. The Planning Office
recommends approval of the prelininary plCl.t of t~e
. Aztec condominiums. This is Cl.n existing buildinq.
i
,
I
!
I
I
Jenkins. opened the public heCl.ring. Jenkins c:::losec.. the
public. hearing.
'Clark mentioned that the Planning Office recommendations
would include the conditions of the,City Engineer
which are: 1) zoning was incorrect on the plat, 2) five
foot easement would be necessary for the sidewalk
on N,onCl.rch street, 3) landscaping plan is needed and
4) cash dedication would be required '
Hunt moved preliminary plat of the Aztec Condomi~iums
subject to the park dedication fee and the conditions
of the City Engineer; seconded by Otte. All in favor,
Collins abstained. Motion carried.
Jenkins opened the public hearing.
,"
Clark explained that this is to request conceputal
subdivision apprQval for the Columbine Condominiums.
Conceptual approval was given by the PICl.nning and Zoning"
on October 7, 1975 Cl.nd Council gCl.ve'Conceputal approval
on October 27, 1975.. This project consist of 5 one
bedroom units ancj is locatecj on the corner of Original
Cl.ncj Hopkins Streets. Planning Department is recommending
approval of the project, subJect to the conditions of
the City Engineer.
Jenkins closed, .the public hearing.
Hunt moved to Cl.pprove the preliminary plat of Columbine
C.ondominiums subject to the conditions of, the City
Engi~eer and park dedication fel:!i seconded by Collins.
All in favor, motion carried.
Clark mentioned. that they are reporting to the subdivi-
sionregulations. The final plCl.t approval has expired
and is necessary for them to go back to P&Z for
preliminary and final plat re-approval. The Planning
Office reconunends that it be approved. We arc offering
a:n extension of the final plat deadline of a1:\ot:10r 90
'days.
Hunt moved to re-approve the Clarencjon preliminnry and
final plats; seconded by Dobie. }\ll in favor, motion
carried,.
-16--
.1
..
I"""-
-.,
CITY.
130 so
aspen,
SPEN
street
81611
MEMORANDUM
TO:
ASPEN PLANNING AND ZONING COMMISSION
FROM:
PLANNING STAFF (HC)
DATE:
DECEMBER 30, 1975
RE:
AZTEC CONDOMINIUMS - PRELIMINARY PLAT
This is a Public Hearing to consider preliminary plat approval
for the Condominimization of the Gentry-Perrault to be named
"Aztec Condominiums". Your packet contains data on the
project. The Planning and Zoning Commission granted Conc~ptual
Approval on October 21, 1975; Council approved on October 27,
1975.
The Planning Office recommends approval of the Preliminary
Plat subject to the conditions of the City Engineer and City
Fire Marshall.
t",
~
.5)it-
~MEMO
HAL CLARK
PLANNING DEPT.
DAVE ELLIS ~
CITY ENGINEER ~
~DATE: Dec. 10,1975
TO:
FROM:
Re: Aztec Condominium Subdivision- Preliminary Plat Review
The engineering department recommends preliminary plat
approved for this project with the following comments:
I) Existing zoning is L-2 not L-l as shown on plat.
2) A 5' .asemen~ will be necessary for the sidewalk
on Monarch Street.
3) A landscaping plan is neede~.
4) Cash dedication will be required in an amount
equivalent to the value of 1001.88 sq.ft.
cc: Jack Walls w/plat
'A~"".t~'",,',~,',"~"?'.l;;,t>"-:: "~/>:~i; "':"'~'i!:" -~t,::';ri!\"':::-'; ,.;~t~'i!Y:':;,: '''.-" ~~~/~;r."~;:C"::';.:rt!~n: ' "~: ',<~::' ,.~~::~~;. ''''';:',~,''~''';'''''-
'..'1._.,..""'..,....,.....
,....., ~-,
. ~'t '
. '; ...... ,,"'. .....,~,~;:-;,~?;r~, .,'. _,', _,', ,,"
l\SPEN I PITJ(,.~rF'nl:nl}ing Department
<t_:'". '" ~",:,..': ,'::,\0:}';
I 3 0 S 0 ~~ t j e n'iJ S t r e e t,
asp e n ,~,~~)l 0, i" a~:;~lj" 8 I 6 11'
~"-'l>;;''''''''''~''-''''''~~
.. .~:i~>:~~' ,
SUBDIVISION PLAN CHECK FORM
Subdivision:
'NOVEMBER 21, 1975
AZTEC CONDOS
Hailing Date:
Agency:
FIRE MARSHALL
The enclosed plat is provided so that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than DECEMBER 10, 1975
If you have no comments please refer this form back to us making note
that you have no comment at this time.
,st::"t? Col1/1CPTJ' O/v
~t~r
~'
j
t. !"",\,
,~Ij
ASPENIPITKl~~7i'L~I~nQing Deparbnent
'i,..
I 3 0 sOli 'nln~ s t r eeL
asp'en, ten r'ado,,;;' 81611~
..,.... "~~~:~.2,.~,~~_j},,',:,~,~~4
"'v
<
SUBDIVISION PLAN CHECK FORM
Mailing Date:
NOVEMBER 21, 1975
AZTEC CONDOS
Subdivision:
Agen cy :
METRO SANITATION
The enclosed plat is provided so that each uti1Hy company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommerded
alterations on a copy of the plat,
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than DECEMBER 10 Ig7,
,
If you have no cOl)lments please refer this form back to us making note
that you have no comment at this time.
/3 ~ t; -t.-5
~
~~
, T(j'/~2-d
~ t:::J-
C/IJ- ~~
, d1 0 c"L~
;~.. -""\ ~
~ ,l<"", $
ASPEN IPITKl~J '~pj~t!1ning Department
It'. -..',;,{I'>-
13080rit k.a street
~- _ - ~:',,-,' ~;-:'_ ''''. '<',',,',',,' ,',':-1.
aspen, ~':~' 0, u.l!'a,~~:?i" 8 1 6 ll~
.,,- " W^''''''~J.;r1;',;;:j,':u::J;;;ji;~",,;;;iti;.'!}
f.4t;;::w ,- "
1""'\
SUBDIVISION PLAN CHECK FORM
~: P/;4tJtJIN~
Mailing Date:
Subdivision:
NOVEMBER 21, 1975
AZTEC CONDOS
Agency:
COUNTY ENGINEER
The enclosed pl at is provided so that each util Hy company and pub 1 i c
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later' than DECEMBER 10, 1975
"If you have no comments please refer this form back to us making note
that you have no comment at this time.
,
I\) <:) C.O~IV\6-~J'r
q~ ~{),L
<'
;-,..-,,,,,..1
r- j~ ,-, ~~
,,,~;r'~e
ASPEN I PITKlN "Pla'nning Department
." . . ~
1 '3 0 s ~)'(i l i 1 ~\ n a s t r c e t,
t . ,,". . . "'- t:<:;,,'i."',_"'; _~ ," ""-'i""~-':"":',:::;i
asp e n ~ ~""e C~ t 1." r 2] Ili 0.,;" 8 1 6 I 1-
; '"<;.'," ;;':":':;:1,~:,1i~~;<,:,,~:;'~:>{;;'::;JP'''/I
...""'~:t"~~!>"""'"
SUBDIVISION PLAN ,CHECK FORM
Mailing Date:
Subdivision:
NOVEMBER 21, 1975
AZTEC CONDOS
Agency:
TRAIL COORDINATOR
The enclosed plat is provided $0 that each utility company and public
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommerded
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than DECEMBER 10, 1975
If you have no comments please refer this form back to us making note
that you have no comment at this time.
.I.. hfMK- M-O
~.~.~~.
,I ' . '
~.~
..,....-..,-,....."...,,"'_.....
1"""\
.1'""'\
ASPEN/PIT
l;~ fLso
'"
aspen,
g Department
str~et,
3 1 6 11"
SUBDIVISION PLAN CHECK FORM
Mailing Date:
Subdivision:
NOVEMBER 21,1975
AZTEC CONDOS
Agency:
ELECTR IC DEPT.
The 'enclosed plat is provided so that each utility company and pub"c
agency may inspect the plat and the site, making comments, concerning
the placement of easements. etc., and whei-e necessary sketching recommended
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than DECEMBER 10, 1975
If you have no comments please refer this form back to us making note
that you have no comment at this time.
~ . _G.~~/
~;(' ~ ..... . fl}Y. .
~~Jy7 01
'/"""'I
ASPEN/PIT
13 0 so
.""
aspen~
SUBDIVISION PLAN CHECK FORM
Mail i ng Date:
Subdivision:
NOVEMBER 21, 1~75
AZTEC CONDOS
Agency: '
WATER DEPT.
,1'*\
DepartInent
street,
81611'
The enclosed pl at is provi ded so that each util ity company and pub 1 i c
agency may inspect the plat and the site, making comments, concerning
the placement of easements, etc., and where necessary sketching recommerded
alterations on a copy of the plat.
Your comments and any corrections made on the plat must be returned to
the City/County Planning Office no later than DECEMBER 10, 1975
If you have no comments please refer this form back to us making note
that you have no comment at this time.
hh '~
#,-0 M ~
""'.',,\,,,:,"-
-=7"~'"
/"""-'
,'-'"
CITV :;',r,:~P'.,:. """5 PEN
. l..;>;~~~.Mi1j;:'.",::;:,~,:
aspen ,c(i;!;~~~9"~:;~i~,'1 box v
...':.'....,..., '
'",
'f:!'"
MEMORANDUM
TO: As pen City Cou n ci 1
FROM: Planning Staff (HC)
RE: Conceptual Subdivision - Gentry/Perreault Apartments
DATE: October 23, 1975
This is a request for conceptual subdivision approval for the Gentry/
Perreault Apartments located on the soutwest corner of Monarch and
Dean Streets on Lots 1, 2, and 3, Block 1, Conners Addition. The
project is currently under construction and consists of a sin~le
structure containing five (5) one-bedroom apartments and one (1) two-
bedroom apartment. The property is zoned Lodge-2 (L-2) and the
project conforms to present zoning code requirements.
The Planning and Zoning Commission recommended approval on October 21,
1975. The Planning Office recommends approval with the following
comments:
1. These luxury apartments are under construction
at present, thus no local persons will be dis-
placed by the condominiumization.
2. The six unit project is subject to open space
dedication requirements. We recommend a cash
dedication in lieu of open space.
3. The condominium plat will be reviewed ,for technical
compliance with subdivision regulations at the
preliminary plat stage.
(}(/I(j/C/~ /Jpfl~~(/: Ocr-.../1; /f/.r
I. c.t. g,,~
:2 , S I j) t' WM,. IF{
1""'\,
;-,
,~
jaok m. vv-alls arohiteot aspen, oolorado
p.O. box ae I zip oode SJ.8J.l / phone SOS-8ae:;-SalS
October 16, 1975
City of Aspen
Planning Department
130 South Galena Street
Aspen, Colorado 81611
Attn: Hal Clark
Dear Hal,
I would like to make application, in behalf of my clients,
for subdivision of the apartment project that we discussed in
your office the other day. This building is presently under
construction and goes under the name of Gentry and Perreault
Apartments. A building permit was issued by the city of Aspen
January 31, 1975 and the building is in the process of nearing
completion. Since from the start the owners, George C.
Perreault and R. Sheldon Gentry, had intended to condomini~ize
these apartments, it is a necessity that we go through the
subdivision process so these apartments can be sold. The above
named owners will each own and occupy an apartment in the
project.
Following the procedure set forth in Ordinance # 22,
series of 1975, I am enclosing with this letter all the nec8ssary
information and drawings required by the City of Aspen for
conceptual presentation.
After our conference the other day, I hope that due to the
lack of any outstanding problems we are able to combine the
preliminary and final phases of Subdivision at one time. w~th
the submission to the Planning and Zoning scheduled for October
, I h e that we can move quickly towards finalization.
....
-~
,P'
~Mw/cw
("",
~
,~
jack m. 'W"alls architect aspen, colorado
p.o. bOx as I Zip OOCie 81611 / phone 808-985-S818
''^'"
October 16, 1975
INFORMATION REQH1RED FOR SUBDIVISION
OWNERS: George C. Perreault and R. Sheldon Gentry
PROPERTY DESCRIPTION: Lots 1,2, and 3, Block 1, Conners Ad~ition
to the City and Townsite of Aspen. 2'0 my
knowledge this is the only property that
the above mentioned owners own, or have
optioned, in this immediate area.
ZONING: The present zoning classification for this
prgperty is L2 Lodge Two. As the location
map shows, the adjacent zoning is as
follows:
North - (across Dean Avenue) Ll Lodge One
South - L2 Lodge Two
East - (across Monarch Street) L2 Lodge Two
West - P Park with an H (Historic) design-
ation.
LOCATION MAP: The location Map is shown on the enclosed
print of the Site Plan, and is at a Scale
of I" = 400'.
SKETCH PLAN:
The sketch plan is in actuality the site
plan sheet which shows the building as it
presently exists on the site. This s~eet
also shows the location of parking, c'lrb
cuts, sidewalks and area drainage.
DATA FOR DEVELOPM~~T
A. PROPOSED NAME: The final naming of the project has not
been accomplished. This will be subm~tted
at the time of Preliminary Submittal.
B. ACREAGE: The site is 90 feet by 100 feet, which
equals 9,000 square feet, or .21 acres.
C. NUMBER AND TYPE OF llliITS: The project consists of a single
structure containing five (5) one bedroom
apartments and one (1) two bedroom apart-
ment.
Four one bedroom apartments, located en
the first floor, contain approximately 750
square feet each. The one bedroom apc.rt"
.~,
.-.,
ment on the second floor contains approx-
imately 1500 square feet, and the two
bedroom apartment on the second floor also
contains approximately 1500 square feet.
D. DEVELOPMENT POPULATION: Based on Section 20 - 18 of
Ordinance # 22, the total population of
the project will be 9.2 people.
E. PROPERTY FRONT:
The property fron is on Monarch Street,
therefore the setbacks are related tJ
Monarch Street.
The required ~arking is located on a
parking area (shown on the site plan) and
garage space under the structure. T~e
required parking, as stipulated in t~e
current zoning ordinance for L2 (Lodge
Two) classification, is one space per
bedroom. Therefore with 5 one bedroJm
apartments and one two bedroom aFartment,
the required parking is seven (7) spaces.
The parking area to the south of the
structure contains seven (7) spaces ~d the
gara~e area under the structure contains
two (2) spaces, thus giving a total Jf
9 spaces.
DISCLOSURE OF OvfflERSHIP: The disclosure of ownership of the
above mentioned project is in the form of
a Owner Policy of Title Insurance. A copy
of this Title policy is enclosed.
It might be noted that since we have a
construction loan for the project, t~e
First National Bank of Aspen has the first
lien rights on the building. Also, the
general contractor for the project is W.A.
Wilbur, Inc., of Aspen.
F. PARKING:
1"",
:."'=:-- " .',. '.; .'..~' ....'~::~L../:;:,:~{:?~J{'~.~'.;:!r~~~f
,,' , ~- aL._,.2,AJQ_.....C1ock......A..,:\I..,:._J'l\I1I1.l1XJ'.,l4.._,...!ll~~:""_.._,,:-:-~..,'i-';'';',. 2ll '-:;~,'t:. "'"22" -:':.,
' '," . .' . . " ... -,.0l..1,;.,\ vv.t"l:' ~ ...~','
. -172523 'J l' ". _ " , ..., ,'...
R.!'C"eption ~o.___..... ....... ..._ .._. ~ .fte ..QIl.I;ne.. _.:...._...............::......._. .r;~... '" .
,
. . . ". "". . - :-:- ':"'.~:..;
-,:~~"j;2~~~:.}! : '.... f . ~. RN.~ ~~... '; .. ".; ::''''
~~':;~:i:~~-,II . Tn~s5 9betE~D, .~~:.~ lhl,9 2:d da:; 01 Js.nu:\r!!"
-....'::-._....-.;~~,ll '19 ,.", -~ . .
2~~~P~?~~~, d~l~ ~r~~n:~ ~~~~;~,::~,~'~'~::i\Y~:. 'or ~. law. ""', ",' ".
.:::~~-:.'f'.:.:,../.,.I. at. tM SlAte o.f'"...!a:ryl.a.nu. uf the tint part.. and
i]~~t~~~;~...:. :'.~~l;:G:'~: .-J'S~O" - -"-
, .~ :::,~. WIn.ESSBI'II. 'Thot ...".aid pan, 01 the fint J>lUt. for one! in oon.id..ati.... at lI>o .um 0' ", '_ :::':>"',;:;:';}N~~
. O!oi! l!U:nRE:l" !lCLLAitS A,...:J ~':!!;::l m!J:J AS:J VA!.::A3LE CL'XSr!li':R.',no~ _ _ . ,
',~ I . U; iJo.. ~d pa.n;, ~ th~ lint part in hand paid by t.~8 laid pan t~ 9 of tMi "et"Ond part,. to"'. W'ceipt whereof !lllereb,.~~ .
f:.; . ,- ~Bf~ and ackaftwledged, hath knnted. barJC'ained. !IOld eel c:unVt"yeod, and h7 thp.ae preaeatl cloth araat. ~. :.
, ~i :~n- eOrnQ' aDd coDtLml cnto th.. said pa:-;ies of the slfCiH'Id par:, ,th~ i r heil'll. and. uiai.. forever. "::
".$~'~:'."!I --aU .~, the faUawing- de!teribP.d lot:i or part'..1 of land. !lItuatP;. lyinK' and helne' in tII. ~!.tr' O,~..ASperi~. ::..~:
.~..~~~:;.;;.:Jt..:Couat7al.Pll:kin .. ar.clSt:itl!nICI)loradn., to wic: , . . - ,::; .,.,..(~....i...,.....:.. ;t'~~~r,:.
~;~::~~l: f~ ~~;}'- -':~,:'-'\:~,;".' " ' .. '. ~",".~.~'~:,~ .'~>/~.T
'";ii""'.'''l'"I, " lOTS",1' ,. 2' '',A'm 3. - " '_"':-.,. ".,. ,.:",_~
~~tE.?~1[;:', '''-':;..:.1:;;<.. '::,,' , ",.~.::-,;:t:0~.i-,.~!.~~U
' '-'''-.' BlOC.~J ,-","" ' , ,<'" ..'.' .~"....
",~"..:..~",~' "...~ '. "'. - .. ......:.', ....:~...'.,.~......~..~....~-:.:' '::"~"":l"
,.;tf~I::..,~.Eb~i!OR:S,'.lt1)JIJ.Io;( iO ~HE CITY,NlJ T:;\o:'~SITE 0F ~SP.~~I, ';;':~'.'t::'L:.,~::::;-:;f.:;~ ~;~!.;;~~~
,~:~~~'~l'" ~:r~I1r ~,Q.~~~TY:' :" COU)~Y'O '. . -' ~.~,'" :"':'<:";::- :~,~':""~' ~,.~,r,r,~,~.~,.',:..
.:~i~.rt$~~?i~~~f~~~:.::;2~ ~'L:~!~ded in t~ i~, e()nv~j'ar.ce is, th~<n.~il~:r~.:?:~.::~*!,t;.~~~~
..",,;,,::~,..,:,,~,! ..,:",~;.'-~ .' ~.'1:.:"'~' S]," t7'1 -f' '''';1 .... ..,..;,.; ..,...~ ()- I"'M "ubJ' t p 0- -t ,'~ . .~.._
.'.:..~1;i~.1';......ti:-:...,..:,.._,/."'.-~.:..:;......, nt":'l_e c.1......_y..e...........e.....( .. 'UI~ S . ec r :-,el. y.
.:~->~: ,~:,:: "',:-:;:.r. ~:,~.:f::;....;,~~~=~;.<:~:.~ ,:\.!lC ,.~.ra:J to::". h;re l.:! \1 r~se3' ;\'~S "1~nge7' _ r~,!:ht ',1:0 rer::ov€' .........". -~_".~,~,:~,',:,::';,,",',!".,..,::.:.'~,..:,:._.,:.,.:,'...~:._.~.",f.."",,~,',~.::.,~,~.:..~
":';.:~)...'~ i~' :'-""..::...-" .1"-.....~.. same-"on or'oq...o!"€' ...a, _~t. . 0>..... ,~.. . , '_ __
:::::";.,;.p: .I~~"'~'::::'.: .....:.~':'.., _.l:~~';.:'.;,,~......;r.........:.,...,".;~..:,_,' _ ., . '. ~..:,,,~ ~,:-::.~.:.-:.
,:t..~:,,:,!-.';"':', ; . .;::;~ ToGETHER:. ';ith:. auoi'8nd:, .sing-.:iar th&"Dereditamflinta and ar-pnr..enWlft's' t.h~.eunto tielonainl'. '~r. ift an,..riM.",
:~::. "::1'.- .,1 .0 'apoenamir.g,,"1UId' the revenlOll or'rrevlln:ons.. lmna.inc!f!!"9. nmb4, ]'!SIl(!S and pmflts. U1ereofi alia. all t.he estate. ,'. -.":.t
.....~'~~ ,;'::': - i . '.. '1'!lC'nt,. t:t!P.. ilJ.lerest, claim anJ dema.:wl whaL'K:t!.."er at the uid l=1I.:,ty of ~'1e.fint PIU'ti either in law er f!'qui'tJ'. 01.' 'in. ", :'.;.~Zi:,~.~~).~,..~
:"" . ~.' '.. I ":smt to ~Ite- above &u,:air.ed, pf'P.mll"~ ~.:th the h~n:dita=:erlt.rt and u:ppurtN.:1anClllL . '. '. _ :~. .
~ .'.,~ -":': TO HAVF.:...\Nb TO ROLl> t.~ ",,,id prr:n:,e3 ahoyl'!' .):l!"'.c:.:!lt!1111~~1 'JI:sC':"i!~d. ;with the appurtl!onanC'.. unto u.~. .' ,'~,~:""':'''~:.',
:U.:.t pare ~ e';:;, ,'. ~~ ~.~l~~d part.,. thld r h(~ir~ mid u:lltiK'JUIo !un,vt'l". And thft ..aill ~ . . .. ~ . '~'~:::..:':7 ;,>,:'
..... ...~:....~,~.:.;r.;;.':'.~,:.:'~.~~.,-::..,...._~,~.i::..~... ......~,~.'......,A. ". .. ."::"'-:'''.'''~.~.'''.... ~ ..".!....:J'
~:; i~o;;;~~:'~~'~:~:~~t::~"~.,~:~;., ", 'In.: :'r:;~~' ~:;,; :.~~:: ~. fi:rt~.:/= '7,,' ,~~~,."'.:.,.,".',:::.,:.',:~.,:,.',':~".,,.:~~:~~,'.~,':,:.:.'~,~;,::-:,','.,~:,~~':~.:,~,~,."_.,'!.
t~ei: '~lwein L~ aAips: t.~At at th~ t;mll'l or th~ (,'lUu.ailRJC' ~.'Wl c.!Hvery of' t!M.sII prt'!lentl it ill wen. ~~-:::
,~"i7...J or thfl pl"C"miN's aboyp. t'onveyf!d. a.-r of a t:t')Q\'i, SU"~, P'!'rff~t. Ilh'4oh1te Mod i:wif"lfOa",iu1e t!'l'Itata of illberitancfl!. in .
law, ID ffo'e' :m!'l.pi~. a:vl heth Jt'ood r:l(!"t, fuil power alld law!nl n:.:ti':;on:.y to g'1"IIo:1t., bal'~'8:n. ~il:'i1 and CODVWJ' t!3e SUIMI
In on:u:ner and bMn U.fOO't"l'Illl,l. and :h;lt tht! '::m'e: JU? f'ret~ ::J.rd "),..''''1'' t)-,)m all fermer IInd ..t.hf!r KTaDb" barxains, _. . .. ."P
'::~'tl;"~,a..~~:" '::~.::"'v~:~ ;n~~r.'~~.~.'." :f w:"';"", km': ;;t'''. .......: ''''~e?t il""era-l re:'l,', ~'_:",:,:.:,~..,.'.~,',:.,.,..':.~,.~.'.":,..~:':,~.,.:,::;<.",.~.,.,:!.~,~:':~.:,~':.)"
:.. "".'. -". :" ,J, .":1 il~e:n - '., '~:";'::':,~J,;.. .":
". .." '. "'.. ...::':i....- .
. . . ' ."., :"":..... ~" ' .... .' . ...':.:.. . ,. " '
. .~.,,'" ":,,...,-.;."':'.t..~;.:-=-~"'..:....I
.':" ;" ::":". .~'. ". ~.-
.~~....:..:.. .....-:."..... :'........, .:~:...:.':.~,~.-;;~~:~~:!:~ :~.~~......;;.:.;...':::
.. . ,- . . . " II ,,,, .~., .!~;:".'
.,,-:~. .... .-. . '~..~:..;:~..-..:~.;- ~~," :~~t?;~.:~.~..,~
':':2":. ..wl L"Ie abene. Mrs.~ined pr(!lm:&'I4!S in t.~ quid and ~8C~tlble pC'Nll~~8:cm ~f thP. aaid part ies 01 th~ ~d ~:~'''.' ... .'~.. _ ."~,
:..-~..; t!1e i.r......:. .... "I:,;irs and' auj~.. a,a'a:r.at "a nnd eVil!'ry' pt!!"!W1n 0:" ..,)(~:"!IItm. lawf:Jlly ciAi::'li::1r c)r Lo I.Jaim the whole.' : .::'..~~r...~:..::;
',;.:!'p"liny pIU''t'~p.:.~f. tJo:.l'lsaid pRrty Cli die f:~1: part ~had .!le! w:ll W.:\RR.ANT .\,S'D FOH.Jo':\"~R DEFF.N~... ",,: .. .' ,;, ...,,"'-::'"!.?t:...:.:::-.~
, . ~"-~ "...:~..., I~.~~E$S 'l't"SEU:OP. Tho y.:d ;:arl.Y 01 the :ir.lt JHlrt hath .:-BIIMet itJI r.or;w)ratp 'r-autf!" ~ be ~~un~~'/' .":7:.:~~~"'~;;:;.
.,~:I~~,-+;,:/;~:.:i,~/: ..:t~."":":.'., '.. '" . . ..:........~..~'IN:..':.:.:.....i,;.~.;::.:~~,
.:--~;~8;-;::+~:>;,., ,5U~:'l!1l'd~Y ~~ N. .' ", .Pr..a:ldent.. a'r.chta eorpurnte lIe.1 to DP. hf.'rf"unto afflXPd, attellltetl by. 1.""'''''., . :~.e; ~'. "l . ... /............~~,'.:.."
;;~~?~:J~ ~~:;~.,~~,~~';~17~rf7 :~~ ~\"..n.. . ..' " ..:' ,~! .~:.~~.<~;'. :~~1,~~~
,,;,.,.,,~....,"~': d,.~".-,_"_"",,, ",LV""..tc,...._.. T!J- rf1'!r,!1~SSID'!~L rru>!",,~' . ,,;""l..;,'...':'.Y,:,
,..~..""7'"'..-;.1. ;..~a-.i.~::..;,;. :iv"-:r.e"~""".A._._.__..... '-':~"':' ;..,..:....;:...:.;..:.:.:.:........... ........~_......v........I.:..c. N':' ..._.~~l..~N....... .....~.......-=:-.l. ..~.. ".l'" .':"
"'''i.':,.:': ',.'. .-". 1'\._. :/'. - ~.,!i.... ..:1...1",..........-- t7. . /) . J.~' '7' /) ~. ' .. ..';: -'.:"..,~,...t;..
.<, . . " .'. . (_{,!.. t""1Y,-t" :, c....', . ~ f.:.;,;:_'~:', '::':''::':: ',,~.
..'. I~..."....- '-~~ "", -~..........._.._{....t,_%'..._,_...,_ .:.c-. .. ._",......._
"0 ~,..'f\,,_ I,". A!~u7t:R c. ht~E . '. J;e~.H..~~:~..(" :~;.~0..:..>i.~.
gl''''i'E Or' eOI.ORADO. J :'.-.~ ."rO\ .7r:..~ '..........~...-I.\
..__..._.C,il1J1b' of.......P:r. .:;-'KI.~.~ n_. .n.' t 3& .1\\\~,~r....~;~"';~'1:~;.:,': .~,' ,;~~'~~~,~:~::~E~~
"J'~.., $tli>>I('C~i:dc:';r:st",!!I'''fI1: ..a.. al:;C~c:..1I.!4'C1,;,r':!'f1 belol'P. ml,! tni.. 2r:d (lAY of..,~a!lUary' .~:',..'.:..!'..__.:::.
197.':). ".b~ "<.~~'\j:t.C~lur:- ;:....;a, aK PI __~ " .
1_ '!i ~'/;~(~:.~~:r~'<::, ~. --< Y. n. As~' t'..:.:~~'::~,< ::a::~j::l
'. -'.' ...~...-l.:.:.. ~yr.or~"1.rialrnm".i::4!4iUlIt',.II:pi"'s ~f.!'(..('!'!':':'b-:-'Ir 20th,..1976,r.';";,,,:,,;,..:.'I' ",:,'~...:.'
r ' ''',~~.::,~' '-:.' 'N,.",,~ "Y h:~~ &0" "ffl<,a/p' t-" ,,' :.'~~ ':'::'~:~:;:.;i\~~.f:+:'\~i:
! _,___" ..- , ,...._,t~lA...\..4,:,:j(?:',..'!' :fri'~-::;~~::~;;;;;;;;:$;,.;J0';;;i/~~'
t No.. .Ji&. -W:"''RIUNTY DIUI:~..,....u... -8l'*1tMl-~ Pm~h'.cCoq,pa"'.l112 ~~_.;. ...;.:r.
li;-~:';:">"^:;i,,~,~;..,_: _____. '. ",,'i',::i,~~~~lg~~~:1jilt
:~i;i;':~
'.".-,!
_ ___ ',,"" . _. __ .. __._.... U..W..__ _ _.... . .. _.._ _. _ __.._._
".-,
,~-c;;...
.,f~~9"""""~ '11..o""\..
l~..' . ...."'1-t."
I"" '.<\
f;='E SEALlol
I;: ~ : -',1
\w\ "'-4~1
'\.~);9'.."'EXJl..~"",,"tf
'\..$".., ......... S'4 ~f
"" I'
",__"ll'
,"""
Owner Policy
of Title,
Insurance
POLICY OF TITLE INSURANCE issued by USLIFE TITLE INSURANCE COMPANY of Dallas,
subject to the Exclusions from Coverage, the exceptions contained in Schedule Bend the pro'
visions of the Conditions and Stipulations hereof, USLlFE TITLE INSURANCE CC MPANY of
Dallas, a Texas Corporation, herein called the Company, insures, as of Date of Policy shown
in Schedule A, against loss or damage, not exceeding the amount of insurance stated n Schedule
A, and costs, attorneys' fees and expenses which the Company may become obligated to pay
hereunder, sustained or incurred by the insured. by reason of:
1, Title to the estate or interest described in Schedule A being vested otherwise than as stated
therein;
2, Any defect in or lien or encumbrance on such title;
3. Lack of a right of access to and from the land; or
4. Unmarketability of such title,
IN WITNESS WHEREOF, USLlFE TITLE INSURANCE COMPANY of Dallas has caused these
presents to be signed by its duly authorized officers in fac'simile with its corporate seal hereto
affixed to become effective as its original signature and seal and binding on this Company as
of the date shown in Schedule A, the effective date of this policy,
~c.. rn'-1~
President
~7i~_
Attest: Senior Vice.President. Secretary and Treasurel
2~p~J ~
Authtriud Signature
AMERICAN LAND TITLE ASSOCIATION STANDARD OWNER'S POLICY-FORM B-1970-AMENDED 10.17.70
Formerly DALLAS TfTLE AND GUARANTY COMPANY
FORM 1M 10M .673H
~,
~
Exclusions from Coverage
The following matters are expressly excluded from the
coverage of this policy:
1. Any law, ordinance or governmental regulation (includ-
ing but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy.
use or enjoyment of the land. or regUlating the charac-
ter, dimensions or location of any improvement now or
hereafter erected on the land, or prohibiting a separation
in ownership or a reduction in the dimensions or area of
the land, or the effect of any violation of any such law,
ordinance or governmental regulation.
2. Rights of eminent domain or governmental rights of
police power unless notice of the exercise of such rights
appears in the public records at Date of Policy.
3. Defects, liens, encum.brances, adverse claims, or other
matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not known to the Company and
not shown by the public records but known to the insured
claimant either at Date of Policy Or at the date such
claimant acquired an estate or interest insured by this
policy and not disclosed in writing by the insured claim-
ant to the Company prior to the date such insured claim-
ant became an insured hereunder;' (e) resulting in no
loss or damag,e to the insured claimant; (d) attact ing or
created subsequent to Date of Policy; or (e) resulting in
loss or damage which would not have been sustained if
the insured claimant had paid value for the estate or
interest insured by this policy,
Conditiors and Stipulations
1, Definition of Terms
The foHowing terms when used in this policy mean:
(a) "insured": the insured named in Schedule A. and, sub-
ject to any rights, or defenses the Company may have had
against the named in'sured. those who succeed to the interest
of such insured by operation of law as distinguished from
purchase including, but not limited to, heirs, distributees,
devisees, survivors, personal representatives. next of kin, or
corporate or fiduciary successors.
(b) "insured claimant": an insured claiming loss or damage
hereunder.
(c) "knowledge": actual knowledge, not constructive know-
ledge or notice which may be imputed to an insured by reason
of any public records.
(d) "land": the land described, specifically or by reference
in Schedule A, and improvements affixed thereto which by
law constitute real property; provided, however, the term
"land" does not include any property beyond the lines of the
area specifically described or referred to in Schedule A, nor
any right, title, interest, estate or easement in abutting streets,
roads, avenues, alleys, lanes, ways or waterways, but nothing
nerein shall modify or limit tne extent to which a right of access
to and from the land is insured by this policy.
(e) "mortgage": mortgage, deed of trust. trust deed, or
other.security instrument.
(f) "public records": those records which by law impart
constructive notice of matters relating to said land.
2. Continuation of Insurance after
Conveyance of Title
The coverage of this policy shall continue in force as of
Date of Policy in favor of an insured so long as such insured
retains an estate or interest in the land, or holds an ind~bted~
ness secured by a purchase money mortgage given by a pur-
chaser from such insured, or so long. as such insured. shall
have liability by reason of covenants of warranty made by
such insured in any transfer or conveyance of such estate or
interest; provided, however, this policy shall not continue in
force in favor of any-purChaser from such insured of either
said estate or interest or the indebtedness secured by a pur-
chase money mortgage given to such insured.
3, Defense and Prosecution of Actions-
Notice of Claim to be given by an Insured
Claimant
(a) The Company, at its own cost and with9ut undue delay,
shall provide for the defense of an insured in all litigation
consisting of actions or proceedings commenced against
such insured, or a defense interposed against an insured in
an action. to enforce a contract for a sale of the estate. or
interest in said land, to the extent that such litigation is founded
upon an alleged defect, lien, encumbrance, 9r other matter
insured against by this policy.
(b) The insured shall notify the Company promptly in writ..
ing (i) in case any action or proceeding is begun or defense is
interposed as set forth In (a) above, (ii) ill case knowledge
shall come to an insured hereunder of . any claim of title Or
interest which is adverse to the title to the estate or interest,
as insured. and which might cause loss or damage for which
the Company may be liable by virtue of this policy, oJ' (Iii) if
title to the estate or interest as insured, is rejected as unmar~
ketable. If such prompt notice shall not be given to th. Com-
pany, then as to such insured all liability of the Company shall
cease and terminate,in regard to the matter or matters for
which such prompt notice is required;, provided, however,
that failure to notify shall in no case prejudice the right. of any
such insured under this policy unless the Company .hall be
prejudiced by such failure and then only to the extent of such
prejudice.
(c) The Company shall have the right at its own cost to
institute and without undue delay prosecute any action or pro-
ceeding or to do any other act which in its opinion 'Tlay be
necessary or desirable to establish the title to the estate 9r
interest as insured, and theCompallY may take any appropriate
action under the terms.of this policy, whether or not it shall
be liable tnereunder. and shall not thereby concede liability or
waive any provision of this policy.
(d) Whenever the Company shall have brought any action
or interposed a defense as required or permitted by :he pro-
visions of this policy, the Company may pursue any such liti-
gation to final determination by a court of competent
juriSdiction and expressly reserves the right. in its soil?' discre-
tion~ to appeal from any adverse judgment or order.
(e) In all cases where this policy permits or requires the
Company to prosecute or provide for the defense of any action
or proceeding. the insured hereunder shall secure to the Com-
pany the right to so prosecute or provide defense in such
action or proceeding. and all appeals therein. and permit the
Company to use, at its option, the name of such insured for
such purpose. Whenever requested by the Company, such
insured shall give the Company all reasonable aid in any such
action or proceeding. in effecting settlement, securing evi-
dence, obtaining witnesses, or prosecuting or defend n9 such
action or proceeding. and the Company shall reimbu.se such
insured for any expense so incurred.
4, Notice of Loss-Limitation of Action
In addition to the notices required under paragraph 3(b) of
these Conditions and Stipulations, a statement in y.,r.iting of
any loss or damage for wbich it is claimed the Company is
liable under this policy shall be furnisned to the Company'
within 90 days after such loss or damage shall have been
lConditions and Stjoulations_ Continued and Concluded on Last Pace of Tris Po1icvl
-.
^
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
1(1';
,
determined and no right of action shall accrue to an insured
claimant until 30 days atter such statement shall have been
furnished. Failure to furnish such statement of loss or damage
shall terminate any liability of the Company under this policy
as to such loss or damage.
5. Options to Payor Otherwise Settle Claims
The Company shall have the option to payor otherwise
settle for or in the name of an insured claimant any claim
insured against or to terminate all liability and obligations of
the Company hereunder by paying or tendering payment of
the amount of insurance under thiS policy together with any
costs, attorneys' fees and expenses incurred up to the time of
such payment or tender of payment, by the insured claimant
and authorized by the Company.
6, Determination and Payment of loss
ta) The liability of the Company under this policy shall in no
case exceed the least of:
'(i) the actual loss of the insured claimant; or
tii) the amount of insurance stated in Schedule A,
tb) The Company will pay, in addition to any loss insured
against by this policy, all costs imposed upon an insured in
litigation carried on by the Company for such insured, and all
costs, attorneys' fees and expenses in litigation carried on. by
such insured with the written authorization of the Company
(c) When liability has been definitely fixed in accordance
with the conditions of this policy, the loss or damage shall be
payable within 30 days thereafter,
7, limitation of liability
No claim shall arise or be maintainable under this pOlicy
ta) if the Company, atter having received notice of an alleged
defect, lien or encumbrance insured against hereunder, by
litigation or otherwise. removes such defect, lien or encum~
brance or establishes the title, as insured,'within a reasonable
time after receipt of such notice; (b) in the event of litigation
until there has been a final determination by a court of compe-
tent jurisdiction, and disposition of all appeals therefrom,
adverse to the title, as insured, as provided in paragraph 3
hereof; or tc) for liability voluntarily assumed by an insured in
settling any claim or suit without prior written consent of the
Company,
8. Reduction of liability
All payments under this policy, except payments made fQr
costs, attorneys' fees and expenses, shall reduce the amount
of the insurance pro tanto. No payment shall be made without
producing this policy for endorsement of such payment unless
the policy be lost or destroyed, in which case proof of such
loss or destruction shall be furnished to the satisfaction of
~~m~~ '
9, liability Noncumulative
It is expressly understood that the amount of insurance
under this policy shall be reduced by any amount the Com-
pany may pay under any policy insuring either tal a mortgage
shown or referred toin Schedule B hereof which is a lien on
the estate or interest covered by this policy, or (b) a mortgage
hereafter executed by an insured which is a charge or lien on
the estate or inteJ'est described or referred to in Schedule A,
andlhe amount so paid shall be deemed a payment under this
policy, The Company shall have the option to apply to the pay-
^
I..
ment of any such mortgages any amount that otherwise ",ould
be payable hereunder to the insured owner of the estate or
interest covered by this policy and the amount so paid shall
be deemed a payment under this poli,cy to said insured cwner.
1 Q. Apportionment
If the land described in Schedule A consists of two or more
parcels which are not used as a single site, and a loss is estabw
lished affecting one or more of said parcels but not all, the loss
shall be computed and settled on a pro rata basis as if the
amount of insurance under this policy was divided pro rata as
to the value on Date of Policy of each separate parcel to the
whole, exclusive of any improvements made subseqLent to
Date of Policy, unless a liability or value has otherwise been
agreed upon as to each such parcel by the Company and the
insured at the time of the issuance of this policy and shown by
an express statement herein Or by an endorsement attached
hereto.
11, Subrogation Upon Payment or Settlement
Whenever the Company shall have settled a claim under
this policy, all right of subrogation shall vest in the Company
unaffected by any act of the insured claimant, The Company
shall be subrogated to and be entitled to all rights and re"!'ledies
which such insured claimant would have had agair st any
person or property in respect to such claim had this po icy nQt
been issued, and if requested by the Company, such insured
claimant shall transfer,to the Company all rights and remedies
against any person or property necessary in order to perfect
such right of subrogation and shall permit the Company to
use the name of such insured claimant in any transaction or
litigation involving such rights or remedies. If the p.yment
does not cover the loss of such insured claimant, the Company
shall be subrogated to such rights and remedies in the "opor-
tion which said payment bears to the amount of said loss, If
loss should result from any act of such insured claimant, such
act shall not void this policy, but the Company, in that event,
shall be required to pay only that part of any losses insured
against hereunder which shall exceed the amount, if any, lost
to the Company by reason of the impairment of the right of
subrogation.
12, liability limited to this Policy
This instrument together with all endorsements ard. other
instruments, if any, attached hereto by the Company is the
entire policy and contract between the insured and the
Company,
Any claim or' loss or damage, whether or not based on
negligence, and which arises out of the status of the title to
the estate or interest covered hereby or any action asserting
such claim, shall be restricted to the provisions andCondi.
tions and Stipulations of this policy,
" No amendment of or endorsement to this policy can be
made except by writing endorsed hereon or attached hereto
signed by either the President, a Vice President, the Secre.
tary, an Assistant Secretary, or validating officer or author-
ized signatory of the Company,
13, Notices. Where Sent
All notices required to be given the Company md any
statement in writing required to be furnished the Company
shall be addressed to it at its Home Office,
" ,....,....."..,.,--'."..".-.,
tb
,-..,
"".i'
f
SCHEDULE A
AMOUNT $ 85,000.00 '
Date of Policy: January 15, 1975
at 8:00 A.M.
1, Name of Insured:
GEORGE C. PERREAULT and R. SHELDON GENTRY
-,
POLICY NO,O 1
74-10-07
,.
":1 \I.i,
"--';r,,'
007198
. --
2, The estate or interest in the land described herein and which is covered by this policy is: (a fee. a leasehold. etc,)
Fee simple.
3, The estate or interest referred to herein is at Date of Policy vested in:
The insured named above.
4, The land referred to in this policy is described as follows:
Lots 1, 2, and 3
Block 1
CONNOR'S ADDITION TO THE CITY AND TOWNSITE OF ASPEN
Pitkin County, Colorado
.
Aspen
-.
1"""\
SCHEDULE B
,.-".
\
POLICY NO, 0 1, 007198
74-10-07
l:f' ,;
This Policy does not insure against loss or damage by reason of the following:
1, Rights or claims of parties in possession not shown by the public records.
2, Easements, or claims of easements, not shown by the public records.
3. Discrepancies, 'conflicts in boundary lines, shortage in ar~a, encroachments, and any facts which a correct survey an inspec~
tion 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 theretofore or hereafter furnished, imposed by law and n t shown
by the public records,
5. The lien of all taxes and assessments for .,the year 1975 and thel:eafter.
,
6. Reservations and exceptions as contained in the United States Patents recorded
August 26, 1949 in Book 175 at Page 298 as follows: right of the proprietor of
a vein or lode to extract and remove his ore therefrom should the same be fo
to penetrate or intersect the premises.
7. Exceptions as set forth in deed recorded January 14, 1975 in Book 295 at Page 522.
8. Any tax, assessments, fees or charges by reason of the inclusion of the subje t
property in the Aspen Fire Protection District, Aspen Metropolitan Sanitation
Distl:ict and Aspen Stl:eet Improvement District.
9. Deed of Trust from George C. Perreault and R. Sheldon Gentry to the Public Tr stee
of Pitkin County, Colorado for the use of The Congressional Corp" a Maryland
corporation, to secure $60,000.00, dated January 2, 1975 and recorded January 14,
1975 in Book 295 at Page 523.
Porro. 1M (C 1ll.Mtt:a 10M 61mt
f
1""'\
,,-,
CONDOMINIUM DECLARATION
FOR
'AZTEC CONDOMINIUMS
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, R~ Sheldon Gentry and George C. Perreault, here~
inafter called "Declarant" is the owner of the real proper-:y des- i
cribed on the attached Exhibit "A", which by this reference is
made a part hereof; and
WHEREAS, Declarant desires to establish a condominium
project under the Condominium Ownership Act of the State of Colo-
rado; and
WHEREAS, Declarant does hereby establish a plan for the
ownership in fee simple of the real property estates consisting of
the area or space contained in each of the air space units in
the building improvements and the co-ownership by the indi'liidual
and separate owners thereof, as tenants in common, of all of the
remaining property, which property is hereinafter defined and re-
ferred to as the general common elements;
NOW THEREFORE, Declarant does hereby publish and declare
that the following terms, covenants, conditions, easements, re-
strictions, uses, limitations and obligations shall be deemed to
run with the land, shall be a burden and a benefit to Declarant,
its SUccessors and assigns, and any persons acquiring or owning
an interest in the real property and improvements, their grantees,
successors, heirs, executors, administrators, devisees or assigns.
1. Definitions, unless the context shall expressly provide
otherwise.
(a) 'Unit' means an individual air space which is con-
tained within the 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 con- '
tained but not including any of the structural components of the :
building, if any, located within the unit. I
(b) 'Condominium Unit' means the fee simple inte~est and
title in and to a unit together with the undivided interest in the:
general common elements and the appurtenant limited common elements
thereto.
i
I
(c) 'Owner' means a person, persons, firm, corporation,
partnership, association or other legal entity, or any comb~nation'
thereof, who own(s) an interest in one or more condominium units.
(d) 'General common elements' means and includes the
land described in Exhibit "A"; the structural components of the
building; the balconies and parking spaces; and all other p~rts of
such land and the improvements thereon necessary or convenient to
its existence, maintenance and safety which are normally anc. reason--
ably in common use, including the air above such land, all of which
shall be owned, as tenants in common, by the owners of the Eeparate
units, each owner of a unit having 'an undivided percentage cr
fractional interest in such general common elements as is provided
hereinafter.
I
'I
II
I.
Ii
,:
, .
:
,.......
.......,
(e) 'Limited common elements' means those parts of the
general common elements which are either limited to and reserved
for the exclusive use of an owner of a condominium unit or are
limited to and reserved for the common use of more than one but
fewer than all of the condominium unit owners.
(f) 'Condominium project' means all of the land and
improvements initially submitted by this Declaration and s~bsequent-
ly submitted as maybe provided hereinafter.
(g) 'Common expenses' means and includes expenses for
maintenance, repair, operation, management, and administra~ion;
expenses declared common expenses by the provisions of this De-
claration and the By-Laws of the Condominium Association; and all
sums lawfully assessed against the general common elemen~by the
Board of Directors of the Association.
(h) 'Association of unit owners' or 'Association' means
the Association formed as a Colorado not-for-profit corpor~tion
bearing the name Aztec Condominium Association, Inc., the Certi-
ficate of Incorporation and By-Laws of which shall govern the
administration of this condominium property, the members of which
Association shall be all of the owners of the condominium units.
(i) 'Building' means a single building containing units
as shown on the map.
(j) 'Map', 'Condominium Map' or 'Supplemental Map' means
and includes the engineering survey of the land depicting and 10- !
eating thereon all of the improvements, the floor and elevation
plans and any other drawing or diagrammatic plan depicting a part
of or all of the improvements and land.
I
2. Map. The Map may be filed for record in whole or in :
parts or sections, from time to ,time, as the stages of construction
of the units and other improvements are substantially completed. ,
Each section of the Map filed subsequent to the first or initially,
filed Map shall be termed a Supplement to such Map and the numer- .
ical sequence of such supplements shall be shown thereon. ~he Map;
or any part or section thereof depicting units shall not be filed
for record until the building in which the units are located has
been substantially completed in order to permit the location there-
of, both horizontally and vertically. Each such Map shall be file4
for record prior to the conveyance of a condominium unit to a ,
purchaser. Each such Map shall depict, and show at least the follow-
ing: The legal description of the land and a survey thereof; the
location of the building(s); the floor and elevation plans; the
location of the unit within the building, both horizontally and
vertically; the thickness of the common walls between or separating
the uhits; the location of any structural components or sUPForting
elements of a building located within a unit, and, the unit des-
ignations and the building symbol. The Map shall contain the cert-
ificate of a registered professional engineer or licensed architect,
or both, certifying that the Map substantially depicts the location
and the horizontal and vertical measurements of the building, the
units, the unit designations, the dimensions of the units, the ele-
vations of the unfinished floors and ceilings as constructed, the
building symbol, and that such Map was prepared subsequent t~ sub-'
, stantial completion of the improvements. Each supplemental 3.ndjor my
amendment shall . set forth a like certificate when appropriate. In
ii
Ii
I:
- 2 -
"
....
1""\
1""\.
interpreting the Map the existing physical boundaries of each sep+
arate unit as constructed shall be conclusively presumed to be it~
boundaries. Declarant reserves the right to amend the Map, from I
time to time, to conform the same according to the actual location
of any of the constructed improvements and to establish, vacate i
and relocate easements, access road easements and on-site parking'
areas.
3. Oivision of Property into Condominium Units. T,e real
property described in Exhibit "A" and the improvements th=reon are
hereby divided into the following fee simple estates, eac~ such ,
estate consisting of the separately designated units and the un- i
divided percentage or fractional interest in and to the general ;
common elements appurtenant to each unit as is set forth on the i
attached Exhibit "B", which by this reference is made a part here+
of. Declarant reserves the right to (i) physically combine I
the space within one unit with the space within one or more adjoin-
ing units, (ii) to combine a part of or combination of pa~ts of j
the space within one unit with part or parts of the space within i
one or more adjoining units, and (iii) to divide into separate !
units the space of one unit. The aggregate or divided uncivided i
interests in the general common elements resulting therefrom shall
be reflected by an amendment to Exhibit "B" hereof and to the Map~
,
,
I
4. Limited Common Elements. A portion of general common :
elements is reserved for the exclusive use of the individ~al owners
of the respective units, and such areas are ,referred to as 'limited
common elements'. The limited common elements so reservec shall i
be identified on the Map. Any balcony, patio or deck which is
accessible from, associated with and which adjoins a unit shall,
without further reference thereto, be used in connection with such
unit to the exclusion of the use thereof by the other owners of
the gerteral common elements, except by invitation. All of the .
owners of condominium units in this condominium project shall have
a nonexclusive right in common with all of the other owners to use
of sidewalks, pathways, roads and streets located within the en-
tire condominium project. No reference thereto, whether such
limited common elements are exclusive or nonexclusive, need be
made in any deed, instrument or conveyance, or other instrument,
and reference is made to the provisions of paragraph 7 of this
Declaration.
5.
be under
ject has
be under
i
,
,
i
Parking Spaces. On-site parking areas and facili~ies shal
the control of the Declarant until the condominium pro-
been completed. Thereafter, the parking areas shall
the control of the Association.
6. Inseparability of a Condominium Unit. Each unit. the
appurtenant undivided interest in the general common elements
and the appurtenant limited common elements shall together com-
prise one condominium unit, shall be inseparable and may be con-
veyed, leased, devised or encumbered only as a condominium unit.
7. Description of Condominium Unit. Every contract for
the sale of a condominium unit written prior to the filing for
record of the Map may legally describe a condominium unit by its
identifying unit designation, followed by the name of this con-
dominium, with further reference to the Map thereof and the De-
claration to be filed for record. Subsequent to the filing of
i
I
!,
I
,I
II
!!
- 3 -
-'1
. '
,-'
,1""'\
the Map and the recording of the Declaration, every deed,
mortgage, trust deed, will or other instrument may legal
cribe a condominium unit by its identifying unit designati
followed by the name of this condominium, with further ref
to the Map thereof, filed for record and the recorded Decla
Every such description shall be good and sufficient for al
poses to sell, convey, transfer, encumber or otherwise aff
only the unit but also the general, common elements and the
common elements appurtenant thereto. Each such descriptio
be construed to include a nonexclusive easement for ingres
egress to an owner's unit and use of all of the general co
elements together with the right to the exclusive use of t
common elements. The initial deeds conveying each condomi
may contain reservations, exceptions and exclusions which
Declarant deems to be consistent with and in the best inte
of all condominium unit owners and the Association.
ease,
y des-
n,
rence
ation~
pur-
ct not i
limi ted i
shall I
and '
on I
e limited
ium unit
he
ests
8. Separate Assessment and Taxation - Notice to Ass ssor.
Declarant shall given written notice to the assessor of Pi in
County of the creation of condominium ownership in this pro erty,
as is provided by law, so that each unit and the undivided 'nter-
est in the general common elements appurtenant thereto shal be
deemed a parcel and subject to separate assessment and taxa ion.
9.
owned in
the laws
Ownership - Title. A condominium unit may be hel
any real property tenancy relationship recognized
of the State of Colorado.
10. Non-Partitionability of General Common Elements.
general common elements shall be owned in common by all of
of the units and shall remain undivided, and no owner shall
any action for partition or division of the general common
Nothing contained herein shall be construed as a limitation
right of partition of a condominium unit between the owners
of, but such a partition shall not affect any other condomi
unit.
1
i
1
I
,
i
,
I
1
The i
he owners
bring
lements.
of the
there-
ium
and
nder
11. Use of General and Limited Common Elements. Each owner
shall be entitled to exclusive ownership and possession of is
unit. Each owner may use the general and limited common ele ents
in accordance with the purpose for which they are intended, ithout
hindering or encroaching upon the lawful right of the other wners
subject to such lawful regulation as may be established by t e
Association.
112. Use and Occupancy. The units shall be used and oc upied
by the owner, his family and their guests, his business invi ees
and his tenants and their guests.
Declarant and Declarant's employees, representativ
agents and contractors may maintain a business and sales off
construction facilities and yards, model units and other dev
facilities necessary or required during the construction and
periods. The Managing Agent may maintain an office in one 0
units in the condominium project for the purpose of managing
condominium units within this condominium project.
II
II
I
I
I
'1
Ii
"
i1
Ii
- 4-
s,
ce,
loper's
sales
the
the
,-,
,
-,
13. Termination of Mechanic's Lien Rights and Indemnification.
Subsequent to the completion of the improvements describec on the i
Map, no labor performed or materials furnished and incorpcrated in!
a unit with the COnsent or at the request of the unit owner, his i
agent, his contractor or subcontractor. shall be the basis for I
filing of a lien against the unit of any other unit owner not ex- !
pressly consenting to or requesting the same, or against the gen-
eral common elements. Each owner shall indemnify' and hold harm- i
less each of the other owners from and against all liability aris-i
ing from the claim of any lien against the unit of any other Owner'
or against the general common elements for construction performed [
or for labor, materials, services or other products incorporated ;
in the owner's unit at such owner's request. The provisions herein
contained are subject to the rights of the Managing Agent or Board I'
of Directors of the Association as set forth in paragraph 16.
I
14. Administration and Management. The administration and I
management of this condominium property shall be governed ~y the
By-Laws of the Association. An owner of a condominium uni~, upon
becoming an owner, shall be a member of the Association and shall
remain a member for the period of his ownership. The Association
shall be initially governed by a Board of Directors as is provided [
in the By-Laws of the Association. The Association may de~egate !
by written agreement any of its duties, powers and functions to :
any person or firm to act as Managing Agent at an agreed compen-
sation.
15. Certificate of Identity. There shall be recorded from
time to time a Certificate of Identity and the addresses of the
persons then comprising the management body (Directors and Officers)
together with the identity and address of the, Managing AgeLt , if '
any. Such Certificate shall be conclusive evidence thereof in
favor of any person relying thereon in good faith regardless of
time elasped since date thereof. The first such Certificate shall
be recorded on or before ninety (90) days after recording this
Declaration.
16. Reservation for Access - Maintenance, Repair and Emer-
gencies. The owners shall have the irrevocable right, to be exer-
cised by the Managing Agent or Board of Directors of the Association
to have access to each unit from time to time during reasonable
hours as may be necessary for the maintenance, repair or replace-
ment of any of the general co~~on elements therein or accessible
therefrom, or for making emergency repairs therein necessary to
prevent damage to the general common elements or to another unit.
Damage to the interior or 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, shall be a common
expense of all the owners; provided, however, that if such damage
is the result of the misuse or negligence of a unit owner, then
such unit owner shall be responsible and liable for all of such
damage. All damaged improvements shall be restored substantially
to the same condition in which they existed prior to the damage.
All maintenance, repairs and replacements as to the general common
elements" whether located inside or outside of units (unless nec-
essitCited by the negligence or misuse of a unit owner, in which
case such expense shall be charged to such unit owner) shall be
II the expense of all of the owners.
_ 5 -
'I
"
I!,:
,""""
.<""""'\.
17. Owner's Maintenance Responsibility. For purposes of
maintenance, repair, alteration and remodeling, an owner shall be
deemed to own the interior nonsupporting walls, the materials (such
as, but not limited to, plaster, gypsum dry wall, paneling,wall-.
paper, paint, wall and floor tile and flooring, but not including
the sub-flooring) making up the finished surfaces of the peri-
meter ,walls, ceilings and floors within the unit, in~luding,doors I
and w~ndows. The,owner shall not be deemed to own l~nes, p~pes, '
wires, conduits or systems (which for brevity are herein and here-I
after referred to as utilities) running through his unit which serve
one or more other units except as a tenant in common with the other
owners. Such utilities shall not be disturbed or relocatej by ,
an owner without the written consent and approval of the B~ard of ,
Directors. Su~h right to repair, alter and remodel is cou~led with
the obligation to replace any finishing or other materials removed,
with similar or other types or kinds of materials. An owner shall:
maintain and keep in repair the interior of his own unit, includ- i
,
ing the fixtures thereof. All fixtures and equipment inst~lled i
within the unit commencing at a point where the utilities enter the
unit shall be maintained and kept in repair by the owner t~ereof. r
An owner shall do no act nor any work that will impair the struc-i
tural soundness or integrity of the building or impair any ease- r
ment or hereditament. An owner shall also keep any balcony area :
appurtenant to his unit in a clean and sanitary condition. All
other maintenance or repairs to any limited common elements, ex-
cept as caused or permitted by the owner's negligence, misuse or
neglect thereof, shall be a common expense of all of the owners.
18. Compliance with provisions of Declaration, By-Laws of
the Association. Each owner shall comply strictly with the pro-
visions of this Declaration, the Certificate of Incorporation and
By-Laws of the Association,and the decisions and resolutions of
the Association adopted pursuant thereto as the same may be law-
fully amended from time to time. Failure to comply with any of the
same shall be grounds for an action to recover sums due, for dam-
ages or injunctive relief or both, and for reimbursement 0= all
attorney's fees incurred in connection therewith, which action
shall be maintainable by the Managing Agent or Board of Directors
in the name of the Association on behalf of the owners or, in a
proper ,case, by an aggrieved owner.
19. Revocation or Amendment to Declaration. This Declara-
tion shall not be revoked unless all of the owners and all of the
holders of any recorded mortgage or deed of trust covering or
affecting any or all of the condominium units unanimously consent
and agree to such revocation by instrument(s) duly recorded. This
Declaration shall not he amended unless the ownerS representing
an aggregate ownership interest of sixty per cent, or more, of the
general common elements and all of the holders of any recorded
mortgage or deed of trust covering or affecting any or all con-
dominium units consent and agree to such amendment by instrument(s)
duly recorded; provided, however,that the percentage of the undi-
vided interest in the general common elements appurtenant to each
unit, as expressed in this Declaration, shall have a permanent
character and shall not be altered without the consent of ~ll of
the unit owners expressed in an amended Declaration duly recorded,
,and provided, further, that revocation of the Declaration shall
always require the consent of all of the owners.
"
'I'
i
II
1\
- 6 -
~
,......,
20. Additions, Alterations and Improvements of General and ,
Limited Common Elements. There shall be no additions, alterations
or improvements of or to the general and limited common elements
by the Association requiring an expenditure in excess of [wo Hun- ,
dred Dollars per unit in anyone calendar year without prior appro~
val of a majority of the owners, and such expenditure(s) shall be '
a common expense. Such limitation shall not be applicable to the
replacement, repair, maintenanoeor obsolescence of any general
or limited common element or common personal property.
21. Assessment for Common Expenses. All owners shall be
obligated to pay the assessments, either estimated or actual, im-
posed by the Board of Directors of the Association to meet the
common expenses. The assessments shall be made according ~o each
owner's percentage or fractional interest in and to the general ,
common elements, unless the owners representing an aggrega~e owner~
ship interest of sixty percent, or more, of the general comnon ele-
ments decide that a particular type of assessment shall be assessed
on a different basis (e.g. on a use basis, as with firewood) . i
I
In the event the ownership of a condominium unit. title
to which is derived from Declarant, commences on a day other than
the first day of the assessment period, the assessment for that
period shall be prorated.
,
I
I
The assessments made shall be based upon the cash require'-
ments deemed to be such aggregate sum as the Managing Agent, or if
there is no Managing Agent, then the Board of Directors of the Asso-
ciation, shall from time to time determine is to be paid by all
the condominium unit owners, inCluding Declarant, to provide for the
payment of all estimated expenses growing out of or connected with
the maintenance, repair, operation, additions, alterations and '
improvements of and to the general common elements, which sxm may
include, but shall not be limited to, expenses of management; taxes
and special assessments until separately assessed; premiums for fire
insurance with extended coverage and vandalism and maliciou3 mis-
chief with endorsements attached issued in the amount of the max-
imum replacement value of,all of the condominium units (including
all fixtures; interior walls and partitions; decorated and finished
surfaces of perimeter walls, floors and ceilings; doors, windows
and other elements or materials comprising a part of the un:..ts);
Icasualty and public liability and other insurance premiums; land-
scaping and care of grounds; common lighting and heating; repairs
and renovations; trash and garbage COllections; wages; common water
and sewer charges; legal and accounting fees; management anc rental
fees; expenses and liabilities incurred by the Managing AgeLt or
[Board of Directors on behalf of the unit owners under or by reason
of this Declaration and the By-Laws of the Association; for any de-
ficit remaining from a previous period; the creation of a reasonable
contingency, reserve, working capital and sinking funds as well as
other costs and expenses relating to the general common elements.
The omission or failure of the Board of Directors to fix the assess-
~ent for any period shall not be deemed a waiver, modification or a
irelease of the owners from their obligation to pay the same. The '
I~ssociation may require each owner to deposit and maintain with the
IlAssociation an amount equal to one quarterly estimated assessment
lifor use as working capital.
'I
I
II
- 7 -
i:
"
il
I;
I"',
.,.-.,
22. Insurance. The Managing Agent, or if there is no Mana-f
gingAgent, then the Board of Directors of the Association, shall r
obtain and maintain at all times insurance of the type anc kind i
provided hereinabove and including for such other risks, of a sim-I
ilar or dissimilar nature, as are or shall hereafter customarily i
be covered with respect to other condominium buildings, fixtures, i
equipment and personal property, similar in construction, design i
and use, issued by responsible insurance companies authorized to !
do business in the State of Colorado. The insurance shall be
carried in blanket policy form naming the Association the insured,'
as attorney-in-fact for all of the condominium unit owners, which
policy or policies shall identify the interest of each condominium
unit owner (owner's name, unit number), and which policy or policies
shall provide a standard, noncontributory mortgage clause in favor!
of each first mortgagee. It shall also provide that the policy ,
cannot be cancelled until after ten days prior written notice is
first given to each owner and each first mortgagee. The Managing,
Agent, or if there is no Managing Agent, then the Board of Directors
shall also obtain and maintain, to the extent obtainable, public '
liabili ty in~urance in such limits ' as may from time to time be i
determined ,covering each unit owner, each member of the Board of i
Directors, the Managing Agent, and the resident manager. Such i
public liability coverage shall also cover cross liability claims'
of one insured against another and shall contain waivers oe subro-,
gation. Each owner may obtain additional insurance at his own '
expense for his own benefit provided that all such policies shall
contain waivers of subrogation and provided, further, that the
liability of the carriers issuing insurance shall not be affected
or diminished by reason of any such insurance carried by a~y unit
owner.
Insurance coverage on the furnishings and other items
of personal property belonging to an owner and casualty and public
liability insurance coverage within each individual unit s:1all be
the responsibility of the owner thereof.
23. Owner's Personal Obligation for Payment of Assessments.
The amount of the common expenses assessed against each condominium
unit shall be the personal and individual debt of the owner there-
of. No owner may exempt himself from liability. for his contribu-
tion towards the common expenses. by waiver of the use or enjoyment
of any of the common elements or by abandonment of his unit. Both
the Board of Directors and Managing Agent shall have the respon-
sibility to take prompt action to collect any unpaid assessment
which remains unpaid more than 15 days from the due date for pay-
ment thereof. In the event of default in the payment of the ass-
essment, the unit owner shall be obligated to pay interest at the
rate of twelve per cent per annum on the amount of the assessment
from due date thereof, together with all expenses, including attor-
ney's fees, incurred together with such late charges as provided
by the By-Laws of the Association. Suit to recover a money judg-
ment for unpaid common expenses shall be maintainable without fore-
closing or waiving the lien securing same. '
24. Assessment Lien. All sums assessed but unpaid for the
share of common expenses chargeable to any condominium unit shall
constitute a lien on such unit superior to all other liens and en-
cumbrances, except only for tax and special assessments liens on
- 8 -
,
,
~ j
,~
,,.-..,
the unit in favor of any assessing unit, and all sums unpaid on a
first mortgage or first deed of trus't of record, including all un-
paid obligatory sums as may be provided by such encumbrance. To
evidence such lien, the Board of Directors or the Managing Agent
shall prepare a written notice of lien assessment setting forth
the amount of such unpaid indebtedness, the amount of the accrued
interest and late charges thereon, the name of the owner of the
condominium unit and a description of the condominium unit. Such
a notice shall be signed by one of "the Board of Directors or by i
one of the officers of the Association or by the Managing Agent and!
shall be recorded in the office of the Clerk and Recorder of Pitkin!
County. Such lien shall attach from the due date of the assess- !
ment. Such lien may be enforced by the foreclosure of the jefault-I
ing owner's condominium unit by the Association in like man~er as j
a mortgage on real property upon the recording of a notice or claim'
thereof. In any such proceedings the owner shall be required to pay'
the costs, expenses and attorney's fees incurred for filing the lien,
and, in the event of foreclosure proceedings, all additional costs,
all expenses and reasonable attorney's fees incurred. The owner
of the condominium unit being foreclosed shall be required ~o pay
to the Association the monthly assessment for the condominium unit
during the period of foreclosure, and the Association shall be en-
titled to a receiver to collect the same. The Association shall
have, the power to bid in the condominium unit at foreclosure or
other legal sale and to acquire and hold, lease, mortgage, vote the
votes appurtenant to, ponvey or otherwise deal with the same. 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 unit, and upon such payment such encumbrancer shall,
have a lien on such unit for the amounts paid of the same rank as
the lien of his encumbrance without the necessity of having to
record a notice or claim of such lien. Upon request of a mortgagee,
the Association shall report to the mortgagee of a condominium unit
any unpaid assessments remaining unpaid for longer than twenty-five
days after the same are due; provided, however, ' that a mortgagee
shall have furnished to the Managing Agent or to the Board of
Directors notice of such encumbrance.
,25. Liability for Common Expense Upon Transfer of Condominium
li'Unit is Joint. Upon payment to the Managing Agent, or if th:re is
no Managing Agent, then to the Board of Directors of the Association,
IOf a reasonable fee not to exceed Twenty-Five Dollars, and u?on the
Mritten request of any owner or any mortgagee or prospective mort-
!gagee of a condominium unit, the Association, Managing Agent, or if
(there is no Managing Agent, then by an officer of the Assoc~ation,
,shall issue a written statement setting forth the amount of the un-
'paid assessments and other charges, if any, with respect to the sub-
~ect unit, which statement shall be conclusive upon the Assoc,iation
tn favor of all persons who rely thereon in good faith. Unless
~uch request for a statement of indebtedness shall be complied with
within fifteen days, all unpaid common expenses which become due
?rior to the date of making such request shall be subordinate to
the rights of the person requesting such statement. The grantee of
'" condominium unit shall be jointly and severally liable with the
!rantor for all unpaid assessments against the latter for the unpaid
ommon assessments up to the time of the grant or conveyance, without
, rejudice to the grantee's right to recover from the grantor the
~mounts paid by the grantee therefor; provided, however, that upon
payment of a reasonable fee not to exceed Twenty-Five Dollars, as is
?rovided hereinabove, and upon written request, any such pros?ective
- 9 -
'I
II
[I
I'
!I
:"
,.....
-,
grantee shall be 6ntitled to a statement from the Managing Agent,
or if there is no Managing Agent, then from the Board of Dlrectors
of the Association, setting forth the amount of the unpaid assess-
ments, if any, with respect to the subject condominium unit, which
statement shall be conclusive upon the Association. Unless such
request for such a statement shall be complied with within twenty
days after such request, then such requesting grantee shall not be
liable for, nor shall the unit conveyed be subject to a lien for any
unpaid assessments against the subject unit. The provisioLs set .
forth in this paragraph shall not apply to the initial sales and
conveyances of the condominium units made by Declarant, anc such
shall be free from all common expenses to the date of conveyance
made or to a date as agreed upon by Declarant and Declarant's
grantee.
26. Mortgaging a Condominium Unit - Priority. An owner shall
have the right from time to time to mortgage or encumber his in- '
terest by deed of trust, mortgage or other security instrument.
A first mortgage shall be one which has first and paramount prior- ;
ity under applicable law. The owner of a condominium unit may ,
create junior mortgages, liens or encumbrances on the following ,
conditions; (1) that any such junior mortgages shall always be sub~
ordinate to all of the terms, conditions, covenants, restrictions, ,
uses, limitations, obligations, lien for common expenses, and other
obligations created by this Declaration, the Certificate of Incor-
poration and the By-Laws of the Association; (2) that the mortgagee
J under any junior mortgage shall release, for the purpose of restor-
ation of any improvements upon the mortgaged premises, all of his
right, title and interest in ,and to the proceeds under all insur-
ance policies upon said premises by the Association. Such release
shall be furnished forthwith bya junior mortgagee upon wri~ten
request of one or more of the members of the Board of Managers of
the Association, and if such request is not granted, such release
may be executed by the Association as attorney-in-fact for such
junior mortgagee.
27. Association as Attorney-in-Fact. This Declaration does
hereby make mandatory the irrevocable appointment of an attorney-
in-fact to deal with the property upon its destruction, for repair
reconstruction, or obsolescence.
Title to any condominium unit is declared and expressly
made subject to the terms and conditions hereof, and acceptance by
any grantee of a deed or other instrument of conveyance from the
Declarant or from any owner or grantor shall constitute appointment
of the attorney-in-fact herein provided. All of the owners irre-
lvocably constitute and appoint the Association their true aLd law- I
'ful attorney in their name, place and stead for the purpose of ,
!dealing with the property upon its destruction or obsolescense as .
is hereinafter provided. As attorney-in-fact, the Association, by
its President and Secretary or Assistant' 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 a condominium unit owner which are necessary and
appropriate to exercise the powers herein granted. Repair and re-
construction of the improvement(s) as used in the succeeding sub-
iparagraphs means restoring the improvement(s) to substantially the
I same condition in which they existed prior to the damage, with each
'i uni t and the general and limited ,common elements having substantially
'the same vertical and horizontal boundaries as before. The Jro-
Ilceeds of any insurance collected shall be available to the Associa-
iltion for the purpose of repair, restoration, reconstruction Jr
!replacements unless the owners and all first mortgagees agre: not ,
,to rebuild in accordance with the provisions set forth herei~after.
I
:1
Ii
,I
II
Ii -,LQ -
"....,.
"....,
, f' I
(a) In the event of damage or destruct10n due to 1re o~
other disaster, the insurance proceeds, if sufficient to reconstruct
the improvement(s), shall be applied by the Association, as attorney-
in-fact, to such reconstruction, and the improvement(s) shall be I
promptly repaired and reconstructed. The Association shall have ,
full authority, right and power, as attorney-in-fact tocaU5e the
repair and restoration of the improvements.'
(b) If the insurance proceeds are insufficient to re-
pair and reconstruct the improvement(s), and if such damage is not:
more than sixty per cent of all of the condominium units (t~e whol~
property), not including land, such damage or destruction s~all 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 condo- !
minium units. Such deficiency assessment shall be a common expens~
and made pro rata according to each owner's percentage interest in,
the general common elements and shall be due and payable within '
thirty 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 improvement(s) using all of the i
insurance proceeds for such purpose notwithstanding the failure ofl
an owner to pay the assessment. The assessment provided for herei~
shall be a debt of each owner and a lien on his condominium unit :
and may be enforced and collected as is provided in paragraph 24. '
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, pursuant to the provisions of this paragraph. The delinquent
owner shall be required to pay to the Association the costs and
expenses for filing the notices, interest at the rate of eight per!
cent per annum on the amount of the assessment and all reasonable '
attorney's fees. The proceeds derived from the sale of such
condominium unit shall be used and disbursed by the Association, as
attorney-in-fact, in following order:
(1) For payment of taxes and special assessments liens
in favor of any assessing entity and the customary expense of sale;
(2) For payment of the balance of the lien of any first
mortgage;
(3) For payment of unpaid common expenses and al: costs,
expenses and fees incurred by the Association;
(4) For payment of junior liens and encumbrances in the
order of and to the extent of their priority; and
(5) The balance remaining, if any, shall be paid to the
condominium unit owner.
(c) If the insurance proceeds are insufficient to repair
and reconstruct the damaged improvement(s), and if such danage is
more than sixty per cent of all of the condominium units (the whole
property), not including land, and if the owners represent~ng an
aggregate ownership interest of fifty-one per cent, or more, of the
general common elements do not voluntarily, within one hundred days
thereafte4make provisions for reconstruction, which plan nust have
the unanimous approval or conSent of every first mortgagee. the .
jAssociation shall forthwith record a notice setting forth such fact
or facts, and upon the recording of such notice by the Association's
I
- 11 -
I
~
--
President and Secretary or Assistant Secretary, the entire remain-I
ing premises shall be sold by the Association pursuant to the I
provisions of this paragraph, as attorney-in-fact for all of the I
owners, free and clear of the provisions contained in this Declar-i
ation, the Map and the By-Laws. The insurance settlement Froceedsi
shall be collected by the Association, and such proceeds sr_all be I
divided by the Association according to each owner's percer.tage I
interest in the general common elements, and such divided pro-
ceeds shall be paid into separate accounts, each such accot:.nt re- i
presenting one of the condominium units. 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. I
From each separate account the Association, as attorney-in-fact, I
shall forthwith use and disburse the total amount (of each) of :
such accounts, without contribution from one account to another, !
toward the partial or full payment of the lien of any first mort- i
gage against the condominium unit represented by such separate '
account. Each such account shall be supplemented by the appor- I
tioned amount of the proceeds obtained from the sale of the entire,
property. Such apportionment shall be based upon each condominium
unit owner's percentage interest in the general common elements. '
The total funds of each account shall be used and disbursed, with-
out contribution from one account to another, by the Association, '
as attorney-in-fact, for the same purposes and in the same order as
is provided in subparagraph (b) (1) through (5) of this paragraph.1
I
I
If the owners representing an aggregate ownershi:? inter-
est of fifty-one per cent, or more, of the general common elements:
adopt a plan for reconstruction, which plan has the unanimous '
approval of all first mortgagees, then all of the owners shall be .
bound by the terms and other provisions of such plan. Any assess~
ment made in connection with such plan shall be a 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 pro- '
vided by the terms of such plan, but not sooner than thirty days
after written notice'thereof. The Association shall have full
authority, right and power, as attorney-in~fact, to cause the re-
pair or restoration ofimpro:vements 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 his condominium unit and
may be enforced and collected as is provided in paragraph 24. In
addition thereto, the Association, as attorney-in-fact, s~all have
the absolute right and power to sell the condominium unit of any
owner refusing or failing to pay such assessment within tLe time
provided, and if not so paid, the Association shall cause to be
recorded a notice that the condominium unit of the delinqt:.ent owner
shall be sold by the Association. The delinquent owner shall be
required to pay to the Association ~he costs and expenses for fil-
ing the notices, interest at the rate of eight per cent per annum
on the amount of the assessment and all reasonable attorney's fees.
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 sub-
paragraph (b) (1) through (5) of this paragraph.
(d) The owners representing an aggregate ownership of
seventy-five per cent, or more, of the general common elenents miiY
I, aglreefthatththe generlal dcommon etlementts areh~bhsolelte hand tad) opt a
p an or e renewa an recons ruc ion, w lC p an as 1e un-
I animous approval of all first mortgagees of record at the time of
I
- 12 -
I
i
I
[i
Ii
!'
,
1""""\
the adoption of such plan. If a plan for the renewal or recon-
struction is adopted, notice of such plan shall be recorded and the
expense of renewal and reconstruction shall be payable by all of !
the owners as common expenses; provided, however, that ano~ner not
a party to such a plan for renewal or reconstruction may give I
written notice to the Association within fifteen (15) days a.fter ,
the date of adoption of such plan that such unit shall be p~rchase~
by the Association for the fair market value thereof. The Associa~
tion shall then have thirty days (thereafter) within which to cancel
such plan. If such plan is not cancelled, the condominiun unit !
of the requesting owner shall be purchased according to the follow~
ing'procedures. If such owner and the Association can agree on the
fair market value thereof, then such sale shall be consummated with-
in thirty days thereafter. If the parties are unable to agree, the
date when either party notifies the other that he or it is unable f
to agree with the other shall be the "commencement date" from which'
all periods of time mentioned herein shall be measured. Within i
ten days following the commencement date, each party shall nominat~
in writing (and give notice of such nomination to the other party) i
as appraiser. If either party fails to make such a nomination, th~
appraiser nominated shall, within five days after default by the '
other party, appoint and associate with him another appraiser. If I
the two designated or selected appraisers are unable to agree, they
shall appoint another appraiser to be umpire between them, if they!
can agree on such person. If they are unable to agree upon such I
umpire, each appraiser previously appointed shall nominate two i
appraisers, and from the names of the four appraisers so no~inated i
one shall be drawn by lot by any judge of any court of record in !
Colorado, and the name so drawn shall be such umpire. The nomin-
ations from whom the umpire is to be drawn by lot shall be submitted
within ten days of the failure of the two appraisers to agree, which,
in any event, shall not be later than twenty days following the :
appointment of the second appraiser. The decision of the appraisers
as to the fair market value, or in the case of their disagreement,
then such decision of the umpire, shall be final and binding. The
expenses and fees of such appraisers shall be borne equally by the
Association and the owner. The sale shall be consummated within
fifteen days thereafter,and the Association, as attorney-in-fact,
shall disburse such proceeds for the same purposes and in the same
order as is provided in subparagraph (b) (1) through (5) of this
'paragraph, except as modified herein.
I
(e) The owners representing an aggregate ownership inter-
est of eighty-five per cent, or more, of the general commo~ elements
may agree that the condominium units are obsolete and that the same
should be sold. Such plan must have the unanimous approval of every
first mortgagee. 'In such instance, the Association shall forthwith
record a notice setting forth such fact or facts, and upon the re-
cording of such notice by the Association's President and Secretary
or Assistant Secretary, the entire premises 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 and
the By-Laws. The sales 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 sha~l be paid
into separate accounts, each such account representing one condo-
minium unit. Each such account shall be in the name of the Associ-
ation, and shall be further identified by the condominium unit des-
"ignated and the name of the owner. From each separate account the
I Association, as attorney-in-fact, shall use and disburse the total
,I
Ii
II
I'
"
iI
'1
I<
I:'
- 13 -
1"""\
^
amount (of each) of such accounts, without contribution from one
account to another, for the same purposes and in the same order as
is provided in subparagraph (b) (1) through (5) of this paragraph.
28. Personal Property for Common Use. The Association, as
attorney-in-fact for all of the owners, may acquire and hold for
the use and benefit of all of the condominium unit owners, real,
tangible and intangible personal property and may dispose of the
same by sale or otherwise. The beneficial interest in any such
property shall be owned by all of the condominium unit owners in
the same proportion as their respective interests in the general
common elements, and such interest therein shall not be transfer-
able except with a conveyance of a condominium unit. A conveyance
of a condominium unit shall transfer to the grantee ownership of
the grantor's beneficial interest in such property without any re-
ference thereto in the deed. Each owner may use such property in
accordance with the purpose for which it is intended without hin-
dering or encroaching upon the lawful rights of the other cwners. ,
The transfer of title to a condominium unit under foreclosure shall.
entitle the purchaser to the beneficial interest in such personal
property associated with the foreclosed condominium unit.
29. Registration of Mailing Address. Each owner shall regis-i
ter his mailing address with the Association, and notices cr demands
intended to be served upon an owner shall be sent by mail, postage
prepaid, addressed in the name of the owner at such registered
mailing address.
30. Restriction on Animals. No live animals, reptiles, birds,
or insects shall be kept within any unit or on any part of the gen-
eral or limited common elements without the prior written consent
of the Association.
31 Right of First Refusal by Owners. In the event any owner
of a condominium unit (other than the Declarant with respect to a
lease or initial sale of units 1, 2, 3 or 4) shall wish to sell or
lease the same, and shall have received a bonda fide offer there-
of from a prospective purchaser or tenant, including an offer from
another owner, the selling or leasing owner shall give written
notice thereof to the remaining owners together with a copy of such
offer and terms thereof. The remaining owners, individually or
collectively, shall have the right to purchase or lease the subject
lunit upon the same terms and conditions as set forth in the offer
I(therefor, provided written notice of such election to purct_ase or
Ilease is given to the selling or leasing owner, or his ager_t, to-
!gether with a matching down payment or deposit during the twenty-day
'period immediately following the date of mailing, by certified or
!registered mail, postage prepaid, of the notice of the offer to .
purchase or lease. The right of first refusal herein provided shall
I . .'
'not apply to leases or sub-leases hav~ng a term of less than seven
months and one day,or an initial sale of units 5cr 6 to Declarant(s),
In the event two or more remaining owners shall have
given their notice to the selling or leasing owner as provided
,above, the determination of who among the :competing owners shall
I!have the right to purchase or lease the unit shall be made as
I!follows: The selling owner shall notify all owners who submitted
their notice of election to purchase or lease and provided the down
Ipayment or deposit as required hereinabove, to submit sealed bids
,Ito the Association, to the attention of the President of tr_e Asso-
ciation, within ten days from the date of mailing, by certified or
i
"
I'
,I
!I
- 14 -
~
,~
registered mail, postage prepaid, of such notice. The President
shall open all such bids upon the fifteenth day following the day
the selling owner mailed said notice to the competing owners and
the owner submitting the bid offering the highest purchase price
or rental for the subject unit shall have the right to purchase
or lease the same.
In the event any owner shall attempt to sell or lease
his condominium unit without affording to the other owners the
right of first refusal herein provided, such sale or lease shall
be voidable and may be voided by a certificate of noncompliance
of the Association duly recorded in the recording office where
the Declaration is recorded. However, in the event the Associa-
tion has not recorded such a certificate of noncompliance within
one year from the date of recording in the case of a deed celivered
in violation of this paragraph and within one year from the date '
of possession under a lease executed in violation of this para-
graph, such a conveyance or lease shall be conclusively deemed to
have been made in compliance with this paragraph and no longer
voidable.
The subleasing or subrenting of said interest shall be
subject to the same limitations as are applicable to the leasing
or renting thereof. The liability of the owner under these cove-
nants shall continue notwithstanding the fact that he may have
leased or rented said interest as provided herein.
In no case shall the right of first refusal rese~ved
herein affect the right of an owner to subject his condominium
unit to a trust deed, mortgage or other security instrumen-:.
The failure of or refusal by the owners to exercise the
right to so purchase or lease shall not constitute or be deemed to
be a waiver of such right to purchase or lease when an owner re- ,
ceives any subsequent bona fide offer from a prospective p~rchaser
or tenant.
32. Exemption from Right of First Refusal. In the event of
any default on the part of any owner under any first mortgage
which entitles the holder thereof to foreclose the same, any sale
under such foreclosure, including delivery of a deed to the first
mortgagee in lieu of such foreclosure, shall be made free and clear
of the provisions of paragraph 31, and the purchaser, or grantee
under such deed in lieu of foreclosure of such condominium unit
shall be thereon and thereafter subject to the provisions of this
Declaration and the By-Laws. If the purchaser following such fore-
I closure sale, or grantee under deed given in lieu of such fore-
closure, shall be the then holder of the first mortgage, cr its
nominee, the said holder or nominee may thereafter sell anc convey
the condominium unit free and clear of the provisions of ]:aragraph
31, but its grantee shall thereupon and thereafterbe subject to all
of the provisions thereof.
The following transfers are also exempt from the pro-
visions of paragraph 31:
(a) The transfer or conveyance by operation of law
or otherwise of the interest of any unit owner to
any co-owner of the same unit, where such co-owners
hold title to such unit as tenants in common or as
joint tenants;
- ] 5 -
II
{,
ii
,I
"
"
i;
f"'"'\
,-'
(b) The transfer
visee or devisees
intestacy laws;
of a deceased's interest to a de-
by will or his heirs at law under
(c) The transfer of an owner's interest by treasurer's
deed pursuant to a sale for delinquent taxes;
(d) The transfer of all or any part of a partner's
interest as a result of withdrawal, death, or otter-
wise, to the remaining partners carrying on the
partnership business and/or to a person or persoLs
becoming partners; a transfer of all or part of a
partner's or partners' interests between one or more
partners and/or to persons becoming partners;
(e) The transfer of a corporation's interest to the
persons formerly owning the stock of the corporation
as the result of a dissolution. A transfer to the
resulting entity following a corporate merger or
consolidation; provided, however, that at least fifty
percent of the stock of the resulting entity is owned
by the stockholders of the corporation formerly owning
the condominium unit;
(f) A transfer by gift.
If the owner of a condominium unit can establish to the
satisfaction of the Association that a proposed transfer is not
a sale or lease, then such a transfer shall not be subject to the
provisions of paragraph 31.
33. Period of Condominium Ownership. The separate condo-
minium estates created by this Declaration and the Map shall con-
tinue until this Declaration is revoked in the manner and as is
provided in paragraph 19 of this Declaration or until terminated
in the manner and as is provided in subparagraph (c) or (e) of
paragraph 27 of this Declaration.
34. Duration of Declaration. Each provision contained in
this Declaration which is subject to the laws or rules som:times
referred to as the. rule against perpetuities or the rule pl:'O-
hibiting unreasonable restraints on alienation shall continue and
remain in full force'and effect for the period of twenty-one years
following the death of the survivor of R. Sheldon Gentry and George
C. Perreault and the now living children of said persons or until
this Declaration is terminated as herein provided, whichever first
occurs. All other provisions contained in this Declaration shall
continue and remain in full force and effect until condominium
ownership created by this Declaration and this Declaration is ter-
minated or revoked as provided in this Declaration.
35. Limited Liability. Neither Declarant, the Association,
the Board of Directors of the Association, nor any member, agent
or employee of any of the same shall be liable to any party for
any action or for any failure to act with respect to any matter if,
the action taken or failure to act was in' good faith and without
malice.
- 16 -
I
I
r!
Ii
"
'0
"
~
^
36. Successors and Assigns. This Declaration shall be bind-
ing upon and shall inure to the benefit of the Association, and
each owner and the heirs, personal representatives, successors and
assigns of each.
37. No Waiver. Failure to enforce any provisions of this
Declaration shall not operate, as a waiver of any such provision
or of any other provision of this Declaration.
38. General Reservations. Declarant reserves the right to
establish easements, reservations, exceptions and exclusions con-
sistent with the condominium ownership of the condominium ~roject
and for the best interests of the condominium unit owners and the
Association in order to serve the entire condominium project.
39.
General.
(a) If any of the provisions of this DeclaratioL or
any paragraph, sentence, clause, phrase or word, or
the application thereof in any circumstance be in-
validated, such invalidity shall not affect the validity i
of the remainder of this Declaration, and the appli- ,
cation of any such provision, paragraph, sentence, clause,
phrase or word in any other circumstances shall not be '
affected thereby.
(b) The provisions of this Declaration shall be in
addition to and supplemental to the Condominium Owner-
Ship Act of the State of Colorado and to all other pro-
visions of law.
(c) That whenever used herein, unless the context shall
otherwise provide, the singular number shall include the
plural, the plural the singular, and the use of any
gender shall 'include all genders.
IN
WITNESS WHEREOF, Declarant has dulyexequted' ,this Decla::-ation
~/ i /'
~"'('19'7L5', ,/ ,/>
/' ' //, i -, v7//
/-- Ii -- --- tiiIL/
, "{,.,~/,,,.
George C. Perreault',
, t/
day of ..:z1=c~:'5:'/Y),$c:Y<!-.
0-~-d..~
on Gentry
this.51
MISSOURI
STATE OF, C!:~C{ )
COLE ) ss.
COUNTY OF Ni:~ )
The foregoing instrument was acknowledged before me this
.;3/ day of December,' 1975 by R. Sheldon Gentry and George C.
Perreault.
My commission expires:June 19, 1977
Witness my hand and officia~se.al'? 0 ,dt'~ ~.
c,:.::;y~ ^- /c" tyd~
Notary Public. cue R'JGentry
- 17 -
i
'i
I,
Ii
"
.
^
..-.,
EXHIBIT "A"
to
CONDOMINIUM DECLARATION
for
AZTEC CONDOMINIUMS
Lots 1, 2 and 3, Block 1, Connor's Addition to the City and !
Townsite of Aspen.
County of Pitkin, State of Colorado.
I;
H
:f
"
...,.,.-.
-'
r-.,
Unit designation
^
EXHIBIT "B"
to
CONDOMINIUM DECLARATION
. for
AZTEC CONDOMINIUMS
Appurtenant Undivided Interest
(percentage)
#l .. , 11. 57
#2 11.57
#3 11. 57
H H..57
#5 26.86
#6 26.86
TOTAL 100.00%
I
i
Ii
Ii
ij
"
"
, ..~
.",r"""'"
'" .,/
,...,,e".,
.
1""'\
r-.,
BYLAWS
OF
THE AZTEC CONDOMINIUM ASSOCIATION, INC.
1. OFFICES
The principal office of the association shall be The Aztec
Condominiums, 601 South Monarch Street, Aspen, Colorado 8~6ll.
The mailing address of the corporation shall be The Aztec Condo-
miniums, 131 E. Durant Street, Aspen, Colorado 81611. The Board
of Directors, in its discretion, may keep and maintain other
offices within or without the State of Colorado wherever the bus-
iness of the corporation may require.
II. DEFINITIONS
All defined terms used herein, unless otherwise indicated,
referred to as "Condominium
I
i
i
Declaration," recorded or to be recorde!d
i
i
,
I
I
shall be used in the same manner as such terms are used in the
Condominium Declaration for The Aztec Condominiums, hereinafter
in the records of the Office of the County Clerk and Recorder of
Pitkin County, Colorado.
III. MEMBERSHIP
1. Membership. Each Owner (as aefined in the Condominium
Declaration) of a Condominium unit (as defined in the Condominium
Declaration), by virtue of being an Owner and for so long as he is
an Owner, shall be a member of the association. No person or en-
tity other than an OWner of a Condominium unit may be a member of
the association.
I
I
II
I
il
h
. ,
"
,-..,
.--'
2. Transfer of Membership. Membership in the association i
shall not be assigned, encumbered, or transferred in any manner I
I
except as an appurtenance to transfer of fee simple title to a I
!
Condominium Unit; provided, however, that the rights of membership:
I
may be assigned to the holder of a mortgage, deed of trust, or other
i
,
security instrument on a Condominium Unit. A transfer of membership
shall occur automatically upon the transfer of title to the Condo-
minium Unit to which the membership pertains, but the association
shall be entitled to treat the person or persons in whose name or
names ownership of the Condominium Unit or Units is or are re-
corded on the books and records of the corporation as the Owner or
OWners for all purposes until such time as evidence of a transfer
of title, satisfactory to the association, has been submitted to
the secretary.
A transfer of title shall not release the
transferor
I
from liability for obligations to the association accrued '..hile a
member of the association prior to such transfer.
3. Voting Rights.
Voting rights in the associatio~ and
restrictions on the exercise thereof are set forth in the Articles
of Incorporation.
4., Annual Meeting.
An annual meeting of the Owners for the
purpose of voting on such matters as properly may come beSore the
meeting shall be held within sixty days after the Declaran-::, as
defined'in the Declaration, has constructed and conveyed a-:: least
four (4) of the Condominium Units or by November 5, 1976, whfch-
ever is sooner. Thereafter the annual meetings of members of the
Association shall be held on the 15th day of December, or at such
other time as the Board of Directors may determine, at the regis-
tered office of the association in Colorado or at such other place,
within or without the State of Colorado; as may be selected by the
- 2 -
I
I
"
Ij
I!
'I
!,
Ii
,
'.
,-,
-,
Board of Directors; provided, however, that should such day fall
on a legal holiday, then such meeting of Owners shall be held at
the same time and place on the next day thereafter ensuing which
is not a legal holiday. Directors shall be elected at each such
annual meeting unless otherwise duly elected.
5. Special Meetings. Special meetings of the Owners may
be called at any time by the President or by the Board of Directors
.
.
.
i
I
i
convenient location in Pitkin County, Colorado, to be selected by !
I
.
I
I
6. Notices; Waiver. Notices of annual and special meetings:
i
i
or by written request of Owners holding more than forty percent
of the voting power of the association and shall be held at a
the persons calling the meeting.
of the Owners shall be in writing and shall state the place, day
I
and hour of the meeting and shall indicate each matter to be votedi
I
on at the meeting which is known to the Board of Directors of the I
I
i
I
association at the time notice of the meeting is given.
Such
notices shall be delivered not less than ten nor more than fifty
days before the date of the meeting, either
I
i
personally or by mail, .
by or at the direction of the President, or the Secretary, or the
persons calling the meeting, and shall be given to each Owner en-
titled to vote at such meeting. If mailed, such notice shall be
deemed to be delivered when deposited in the United States mail
addressed to the Owners at the addresses for such Owners as they
appear on the records of the association, with postage thereon
prepaid.
Written waiver of notice signed by the person or persons
entitled to such notice, whether before or after the time of the
- 3 -
Ii
I,
iI""'.
'1
~ .;
meeting stated therein, shall be equivalent to the giving of such
notice.
7. Quorum, Vote Required; Adjourment.
The presence of
the Owners who hold votes equal to one-half of the total voting power
, I
of the association, in person or by proxy, at a meeting to considet
a matter, shall constitute a quorum for consideration of that I
I
matter. If a\quorum is established for consideration of a matter,!
I
i
except as a greater percentage of votes is required under a specific
I
!
I
,
Condominium Declaration, a majority of the votes cast on the matter,
I
I
or, in the case of elections in which there are more than two can-i
I
didates, a plurality of votes cast, shall decide the matter. If i
a quorum does not exist, a majority of the votes present in person I
provision of these Bylaws, the Articles of Incorporation, or the
or by proxy may adjourn the meeting from time to time without
further notice other than announcements at the meeting.
8. Action of Members Without a Meeting.
Any action re-
quired to be taken, or any action which may be taken, at a meeting
of the Owners, may be taken without a meeting if a written con-
sent, setting forth the action so taken, shall be signed by all
of the Owners entitled to vote with respect to the subject natter
thereof.
IV. BOARD OF DIRECTORS
1. Number.
The Board of Directors shall consist of two
members.
2. Qualifications; Election; Term. All of the directors
shall be Owners of Condominium Units except those directors who
are elected while Declarant is the Owner of four or more Condomi-
nium Units. Directors shall be elected by the members of the
Association at the annual meeting of Owners or as may otherwise be
- 4 -
,~
,,....,
,
duly provided. Directors shall serve a term of one year an~until
their successors are duly elected and qualified. Notwithst~nding
anything to the contrary herein, until the first regular an~ual
meeting of the Owners, the members of the Board of Directors shall
be the initial Board of Directors named in the Articles of Incor-
poration
3. Removal; Resignation.
At any meeting of Owners, the
notice of which indicates such purpose, directors may be removed
in the following manner. The entire Board of Directors or any
lesser number may be removed, with or without cause, by vote of
Owners holding a majority of the voting power of the association.
stating the effective date of his resignation, and acceptance of
I
Board
I
I
I
Any director may resign by submitting a written notice to tbe
the resignation shall not be necessary to make the resignat:con
effective.
4. Vacancies. Any vacancy in the Board of ,Directors and
any directorship to be filled by reason of an increase in the
number of directors may be fflled by an affirmative vote of a maj- !
ority of the remaining directors though less than a quorum of the
Board of Directors. A director selected to fill a vacancy shall
hold office for the unexpired term of his predecessor in office.
Any directorship to be filled by reason of an increase in t~e
number of directors may be filled by the Board of Directors for a
term of office continuing only until the next election of directors.
5. Meetings.
There shall be a regular annual meeting of
the Board of Directors immediately following the annual meeting
of the Owners, and the Board of Directors may establish regular
meetings to be held at such other places and at such other times
as it may determine from time to time. After the establishment
- 5 -
Ii
II
Ii
il
".....,
-,
of the time and place for such regular meetings, no further notice
thereof need be given. Special meetings of the Board may be
called by the President, or, upon written request delivered to the
Secretary of the association, by any two directors.
6. Notices; Waiver.
Seven days' notice of specia: meet-
ings shall be given to each director by the Secretary.
Such notic€!1
I
I
writing,
may be given orally, in person or by telephone, or in
served on or mailed or telegraphed to each director.
Neither
the business to be transacted at, nor the purpose of, any regular
or special meeting of the Board of Directors need be specified in
the notice or waiver of notice of such meeting.
Written waiver of notice signed by a director, whether be-
fore or after the time stated therein for the special meeting,
shall be equivalent to the giving of such notice. Attendance
of a director at any meeting shall constitute a waiver of notice
of such meeting, except when a director attends a meeting for the
express purpose of objecting to the transaction of any business
because the meeting is not lawfully called or convened.
7. Quorum; Vote Required; Adjourment.
At any meeting of
the Board of Directors, a majority of (or two, whichever is,greater)
directors shall constitute a quorum for the transaction of bus-
iness. The act of a majority of the directors present at a meet-
ing at which a quorum is present shall be the act of the Board of
Directors, except as otherwise specifically required by law, the
Articles of Incorporation or these Bylaws. In the absence of a
quorum, the directors present at any meeting of the Board of Dir-
ectors, either regular or special, may adjourn from time to time,
until the time fixed for the next regular meeting of the Board or
until some earlier time.
- 6 -
1"""\
1"""\
"
8. Action of Directors without a Meeting.
Any action re-
quired to betaken, or any action which may be taken, at a meeting
of the directors, may be taken without a meeting if a writ~en con-
sent, setting forth the action so taken, shall be signed by all of
the directors entitled to vote with respect to the subject matter
thereof.
9. Executive Committee of Board of Directors.
The Board
of Directors, by resolution adopted by a majority of the directors
in office, may designate and appoint an Executive Committee of the
Board of Directors composed of not fewer than two directors. The
number of members of the Executive Committee and the persons who
shall be members thereof shall be determined by the Board of Dir-
ectors.
Unless limited by resolution of the Board of Directors,
ing,
I
I
I
,
I
I
the authority of the Board of Directors with respect to amend-'
I
I
altering, or repealing these Bylaws; electing, appoint~ng or I
i
i
i
the Executive Committee shall have and exercise all the aut~ority
of the Board of Directors, except that such Committee shall not
have
removing any member of such Committee or any officer or director
of the association; amending the Articles of Incorporation; re-
stating the Articles of Incorporation; adopting a plan of merger
or adopting a plan of consolidation with another corporation or
association; authorizing the sale, lease, exchange or mortgage of
JaIlor substantially all of the property and assets of the asso-
I
Iciation; authori~ing the voluntary dissolution of the association
I
or revoking proceedings therefor; adopting a plan for the distri-
but ion of assets of the association; or amending, altering or re-
pealing any resolutions of the Board of Directors which by its
terms provides that it shall not be amended, altered or repealed
,by such
Irespect
I
,
I
I
Committee. All of .the provisions in these Bylaws wi~h
to notice of meetings of directors, quorum at such meetings,
I
Ii
'I
Ii
I:
i:
- 7 -
..' ~
f"""',
^
voting at such meetings and waivers of notice of such meetings
shall be applicable to the meetings of the Executive Committee.
V. OfFICERS
1. ,General.
The officers of the corporation shall con-
sist of a President, one or more Vice Presidents, a Secretary,
and a Treasurer, each of whom shall be appointed by the Board of
Directors to serve for terms as prescribed by the Board not to
exceed three years. The Board.of Directors: may appoint such other
officers, agents and employees as it may deem necessary or desir-
able.
Any I
that
Officers may be, but need not be, directors or Owners.
person may hold two or more offices simultaneously, except
the same person shall not be President and Secretary .
2.
President.
The President shall be the chief executive
I
I
I
Board of Directors, shall direct, supervise, coordinate and have i
I
general control over the affairs of the association, and shall have
I
,
I
I
i
,
I
!
officer of the Association and, subject to the control of the
the powers generally attributable to the chief executive officer
of a corporation.
The President shall preside 'at all meetings
of the Owners.
I
!
i
,
!
I
i
her deatlj.,
3.
Vice Presidents.
Vice Presidents, in order of t~eir
rank, may act in place of the President in case of his or
absence, inability or failure to act, and shall perform SUC:1 other'
duties and have such authority as is from time to time delegated
by the Board of Directors or by the President.
4. Secretary. The Secretary shall be'the custodian of the
records and of the seal of the association and shall affix the
seal to all documents requiring the same; shall see that all notices
are duly given in accordance with the provisions of these Bylaws
I!
I
- 8 -
Ii
II
"
)1
.'i
,....,
and as required by law, and that the books, reports, and other docl
uments and records of the association are properly kept and filed; I
shall keep minutes of the proceedings of the members, Board of
Directors and Executive Committee; shall keep at the registered
I
I
Owners entitled to vote and, in the case of multiple Owners of the I
same Condominium Unit, of the proportion of the total votes allocated
I
i
shall keep at the registered office of the association a record I
of the appurtenant undivided interest allocated to each Condominium
unit and, in general, shall perform all duties incident to the II
office of the Secretary and such other duties as may, from time to I
time, be assigned to him or her by the Board of Directors or by thi
President. The Board may appoint one or more Assistant Secretaries'
I
who may act in place of the Secretary in case of his or her death, ,
office of the association a record. of names and addresses of the
to that Unit which each such multiple Owner is entitled to vote;
absence, inability or failure to act.
5. Treasurer.
The Treasurer shall have charge and custody
of, and be responsible for, all funds and securities
ciation, shall deposit all such funds in the name of
of the asso- I
the associatioJl
in such depositories as shall be designated by the Board of Direc-
tors, shall keep correct and complete books and records of account
and records of financial transactions and condition of the asso-
ciation and shall submit such reports thereof as the Board of
Directors may, from time to time, require; and, in general, shall
perform all the duties incident to the office of Treasurer, and
such other duties as may, from time to time, be assigned to him or
her by the Board of Directors or by the President. The Board may
appoint one or more Assistant Treasurers who may act in place of
the Treasurer in case of his or her death, absence, inability or
failure to act.
- 9 -
,(
"
it
:1
J:
Ii
<
^
^
'.
6. Removal of Officers. Any officer may pe removed
Board of Directors whenever in their best judgment the bes
b~ the I
~nter-
ests of the association will be s,erved thereby.
7. Vacancies.
A vacancy in any office because of eath,
resignation, removal or any other cause shall be filled by the
Board of Directors at a regular or special meeting.
8. Delegation of Duties. The Board of Directors ma dele-
gate any of the duties of the officers to a Managing Agent on such
terms as the Board deems appropriate.
9. ComEensation. Officers, agents and employees shall re-
ceive such reasonable compensation for their services as ma be
authorized or ratified by the Board of Directors. Appointm nt of
an officer, agent or employee shall not of itself create r'ghts,
contractual or otherwise, to compensation for services perf rmed
as such officer, agent or employee.
VI. CONTRACTS, CHECKS, REPORTS AND MISCELLANEOUS _:, ,
1. Contracts. The Board of Directors may authorize
officer or agent of the corporation to enter" into any contr
or
execute and deliver any instrument in the name of the assoc'ation,
except as otherwise specifically required by the Articles 0 Incor-
poration, these Bylaws or the Condominium Declaration, and m y en-
gage other parties to manage the affairs of the association nder
I
its supervision;
2. Checks. All checks, drafts, notes and orders for he pay:-
i
ment of money shall pe signed by the President and/or a Vice Pres-
ident and/or the Treasurer, and/or shall be signed by such 0 her
officer of the association as shall be duly authorized by re olu-
tion of the Board of Directors; provided, however, that two igna-
tures shall
Ithe payment
be required on any such check, draft, note or or er for
.
of money.
,
!I
I'
I'
,I
"
"
:1
- 10 -
^
^
3.
Financial Reeorts.
I
and the Owners shall
The association shall keep and
maintain complete books and records of account
have reasonable access to such books and records and to the regis-
ter of names and addresses of Owners and the
appurtenant undivided
I
The Board of Directo~
I
interest allocated to each Condominium Unit.
shall cause an annual report to be sent to Owners not later than
120 days after the close of the fiscal or calendar year.
4. Fiscal Year. The fiscal year of the corporation shall be 'a'
"
adopted by the Board of Directors.
5. Seal. The Board of Directors may adopt a seal of the
association of such design as it may deem appropriate.
VII. RIGHTS AND OBLIGATIONS OF THE ASSOCIATION AND THE Y~MBERS
1. Annual Assessments. The Board of Directors shall fix,
levy, and collect assessments in the manner and for the purposes
specified in the Condominium Declaration, and the members shall
pay assessments as therein provided.
2. Other Rights and Obligations. All the relative rights
and duties of the association and the members as prescribed in
the Condominium Declaration shall be binding on said parties to
the same extent as if set forth in full in these Bylaws.
VIII. AMENDMENTS
1. Articles of Incorporation. Amendments may be made to the
Articles of Incorporation in the manner provided by law by vote of
I
membership of the association at any meeting of the membership,
provided that the notice of such meeting states that such amend-
ment is to be considered. Such amendments may also be made pur-
suant to voting by mail as provided herein. A proposed amendment
I shall be adopted upon receiving the votes of at least a two~thirds,
l.I
!
- 11 -
II
"
i1
II
"
"
"
"
)i
.
;':,"
~
r^,
majority of the voti~g power of the association present or repre-
sented by proxy at a meeting, or casting votes by mail.
No such amendment shall become effective until thirty (30)
days after written notification of such amendment.is sent to all
holders of record of any first encumbrance of any
Condominium Unit
encumbraLce con-I
in the Project, provided that such recorded first
tains the name and mailing address of such holder of a first en-
cumbrance.
2. Bylaws.
These Bylaws, at any time and from time to
time, may be amended, altered or repealed by the Board of Directors,
or by vote of at least a two-thirds majority of the voting power
of the association present in person or by proxy at an annual or
specical meeting provided that the notice of such meeting states
that such amendment, alteration or repeal is to be considered.
No such amendment shall become effective until thirty (30) I
days after written notification of such amendment is sent t~ all I
holders of record of any first encumbrance on any Condomini'.lm unitl
I
1
I
i
I
I
1
No amendment of the Articles'
I
in the Project, provided that such recorded first encumbrance
contains the name and mailing address of such holder of a first
encumbrance.
3.
Limitation of Amendments.
of Incorporation or of these Bylaws shall be contrary to or in-
consistent with any provision of the Condominium Declaration.
IX INDEMNIFICATION OF OFFICERS AND DIRECTORS
The Association shall indemnify every Director or officer,
his heirs, executors, administrators and representatives against
all loss, costs and expenses, including counsel fees, reasoLably
incurred by him in connection with any action, suit or proceeding
to which he may be made a party by reason of his being or having
- 12 -
I'
,I
II
I,
II
"
.,'.'
,,:
~
..-"
matter~
I
I
proceeding to be liable for gross negligence or willful mi conductj
In the event of a settlement, indemnification shall be pro ided I
only in connection with such matters covered by the settle ent as \'
to which the Board of Directors may determine that the per on to
illful I
r offi- ,
i
I
ts shall
I
i
I
I
not be exclusive of other rights to which such manager or 0 ficer I
may be entitled. All liability, loss, damage, costs and ex enses I
incurred or suffered by the Association by reason of, arisi gout
been a Director or officer of the Association, except as
as to which he shall be finally adjudged in such action,
be indemnified has not been guilty of gross negligence or
cer in relation to the matter involved.
misconduct in the performance of his duty as such manager
The foregoing
not be exclusive of other rights to which such manager or
in relation to the matter involved.
The foregoing rights saIl
of, or in connection with the foregoing indemnification pro isions
shall be, treated and handled by the Association as common e
,
penses ;.
i
shall'
,
I
I
provided, however, that nothing in this Article IX containe
be deemed to obligate the Association to indemnify any memb r or
OWner of a Condominium Unit, who is or has been a Director r
officer of the Association with respect to any duties or,ob iga-
tions assumed or liabilities incurred by him under and by v'rtue of
the Condominium Declaration as a member or OWner of a Condo inium
'Unit covered thereby.
X PERSONS BOUND
All present or future Owners, tenants and any otherpe -
son that might use the facilities of the Aztec Condominiums n any
manner are subject to the regulations set forth in these Byl ws.
'The mere acquisition or rental of any of
Ithe mere act of occupancy of any of said
the Condominium Uni s, or
Units will signify hat
these Bylaws are accepted, ratified, and will be complied wi h,
,I
Ii
Ii
II
!i
- 13 -
. <.
... .... -/,. ,
1"""-'
r'-
Approved and adopted this 3-1 day of December, 1975, by
the undersigned as the initial Board of Directors of the corporatipr
-~~.,--
C:,:/ ' "' ~ ..,. i
.,~'.' <. '/ tl -, I
i '.. ,,' t. '. . i
George/c. Perreault I
- 14 -
II
Ii
,I
Ii