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Home My WebLink AboutDRB110025Design Review Board ACTION FORM wo M1 Department of Community Development 75 South Frontage Road, Vail, Colorado 81657 tel: 974.479.2139 fax: 970.479.2452 web: www.vailgov.com Project Name: Tyrolean Unit 7 Project Description: Participants: DRB Number: DRB110025 ADDITION OF 250 SQUARE FEET TO UNIT 7 OVER TWO LEVELS (ENCLOSING DECKS TO GET SQ FT). NEW DORMER, RAISE CHIMNEY HEIGHT TO CLEAR NEW DORMER. THIS APPLICATION UTILIZES ALL THE SQUARE FOOTAGE OF TEH 250 ADDITIONS PROVISIONS. OWNER BLACK STALLION HOLDINGS INC 02/07/2011 791 CRANDON BLVD #807 KEY BISCAYNE FL 33149 APPLICANT BLACK STALLION HOLDINGS INC 0210712011 791 CRANDON BLVD #807 KEY BISCAYNE FL 33149 Project Address: 400 E MEADOW DR VAIL Location: TYROLEAN CONDOS UNIT 7 Legal Description: Lot: Block: Subdivision: VAIL VILLAGE FILING 1 Parcel Number: 2101 - 082- 5202 -6 Comments: See conditions BOARD /STAFF ACTION Motion By: Gillette Action: APPLIED Second By: Plante Vote: 4 -0 -1 (Kjesbo recused) Date of Approval: 03/02/2011 Conditions: Cond: 8 (PLAN): No changes to these plans may be made without the written consent of Town of Vail staff and /or the appropriate review committee(s). Cond: 0 (PLAN): DRB approval does not constitute a permit for building. Please consult with Town of Vail Building personnel prior to construction activities. Cond: 201 (PLAN): DRB approval shall not become valid for 20 days following the date of approval, pursuant to the Vail Town Code, Chapter 12 -3 -3: APPEALS. Cond:202 (PLAN): Approval of this project shall lapse and become void one (1) year following the date of final approval, unless a building permit is issued and construction is commenced and is diligently pursued toward completion. Cond: CON0011792 The applicant shall revise the design of the new dormer to include a clipped hip roof form and an arc on the top of the windows to respect the existing architecture. Revised plans shall be submitted to Staff for review and approval prior to submitting a building permit. Planner: Warren Campbell DRB Fee Paid: $300.00 General Information: This application is required for all proposals involving the addition of any floor area, including net floor area and /or gross residential floor area (GRFA). This also includes proposals for *residential 250 additions' and 'interior conversions'. Applicable Vail Town Code sections can be found at www.vailgov.com under Vail Information - Town Code Online. All projects requiring design review must receive approval prior to submitting a building permit ap- plication. An application for Design Review cannot be accepted until all required information is received by the Commu- nity Development Department, as outlined in the submittal requirements. The project may also need to be reviewed by the Town Council and/or the Planning and Environmental Commission. Design review approval expires one year from the date of approval, unless a building permit is issued and construction commences. Fee: $300 i .. Single Family Duplex Muiti- Family Commercial Description of the Request: & rmi � 2� ticl LL �CG �{J I �� d'r2':' � L.! V610 (Ptiw4�5�r1ro cic �Cs �V 04,(A � 1 �LW Aoyrn�r ,viii v am 61 yvva VW I a tL cA. al< i'uw 9& - Addition of sq ft of GRFA (Residential) or �_ sq ft of net floor area (Commercial/ Office) Physical Address: 4tly Parcel Number: (Contact Eagle Co. Assessor at 970- 328 -8640 for parcel no,) Property Owner: _ Mailing Address: C Owner's Signature: Primary Contact/ Ow Mailing Address: Phone: T � Representative: E -Mail: l�I�( /I�I�J`2fTGG' Fax: Phone: Z For Office Use Only: Cash _ CC: Visa f MC Last 4 CC # Auth # Check # / (oco Fee Paid: J06 — Meeting Date: 3L2 Planner: Zoning; Location of the Proposal: Lot: Block: Received From: DRB No.; r)R8! 001:;l5 Project No: _ P PS > > - 0o 1 Land Use: Subdivision: 0) I L VJU_Ac E F t_1 u G I 01- Jan -10 Application for Design Review Additions - Residential or Commercial T nl. o. i• •PPlles bls to all �e.lon R.- •pPllle naa that Cher• -hip or the a-We.. p•eperfy. For a.em e a:enaruetlOn It oocurrinp 1a a oupi.e. eondeminlum or Tullrt.n. -. blldlnQ. TM. PI•. Cris a b J.a:a preps y where wn•r in the au. • t o multiple- fornlly dwe11- Term -he" be eo,rplelod by the eOPlle. net n.1ghber/ Joint prop.r.y m 1•a. eMlt fO /m •ntl .., Community n• s m.lal't °Went O.Ildln Q, t "e . eI the •af OOla<IOn •hall •. P Dw•lopment D.pertm.ns, 75 $wan F. enaep• fZo.d, V..., CO 91657 °' tae ao 970.479.24 19 �A A Q"° . f' w,,. r •uen orltY or ah. •..° °LUen, of Prop. ` s � 1 D`Al iKLTf�r1C�VV�� _, • Jom• o ►, cprina n.M. 111 R 1 �� a 19 .a N ,a\ v O •revise ton Iau• JA 15 whleh nave .... ..omitted to che yv.IN.n e pl.ev.1 er ah. p ,.e d.aa o !� Dep srlm.nt Ior M. prop P•ed improvement• to U. c mpl. a.e ea the s0' Tewn o r V •11 C em m.nlay Development �Sipn cure a .a•a•m •na e•low wnion if mo•a •PP ^coal. a° y °�. A eo.a.er..liy, P i..c. cri° °h h° understand that minor modifications may be Made to the plans over the course of the Mview process to en furs compliance with tn. Town . eo Pllcebl• co d !!hare) o I request that all modifications, minor or otherwise, which are made to the plans over the course of the re - vl.w pr.e.J., be brought r° my •rtendon by tn♦ epP °cent r °' etlen/e n.l eppro vel before un tie rg oln0 vlpw by the TOW— (lnlalel n.r.) FE df... not.d .have I .ndef.tend 19"61 ahe prepet•tl Im prov&mant{ InWvd. 11 a �7 PROPOSED MATERIALS Building Materials Type of Material Roof wu4y l e(s• Siding wj cV l , & Other Wall Materials WAA yV , tA Fascia h/LWh tX SJ Soffits wykk 1 0(`�l ' Windows Window Trim Doors VY All �/X Door Trim yv� yV ` 'e ' Hand or Deck Rails I Flues Flashing Chimneys Trash Enclosures N Greenhouses w / Retaining Walls Exterior Lighting Other I v I Notes: Color IL! � ► i I- Z N /4� N lI� Please specify the manufacturer's name, the color name and number and attach a color chip. f: \cdev\ forms\ permits\ Planning \DRB \DRB_Addition_010110 PROPOSED LANDSCAPING Botanical Name Common Name PROPOSED TREES AND SHRUBS EXISTING TREES TO BE REMOVED Minimum Requirements for Landscaping: Deciduous Trees — 2" Caliper Coniferous Trees — 6' in height Shrubs — 5 Gal. Type Square Footage GROUND COVER SOD SEED IRRIGATION TYPE OF EROSION CONTROL Q uanti ty Size Please specify other landscape features (i.e. retaining walls, fences, swimming pools, etc.) f: \cdev \forms\ permits\ Planning \DRB \DRB_Add ition_010110 UTILITY APPROVAL & VERIFICATION This form serves to verify that the proposed improvements will not impact any existing or proposed utility services, and also to verify service availability and location for new construction and should be used in conjunction with preparing your utility plan and schedul- ing installations. A site plan, including grading plan, floor plan, and elevations, shall be submitted to the following utilities for ap- proval and verification. PLEASE ALLOW UP TO 2 WEEKS FOR APPROVAL OR COMMENTS FROM THE UTILITY COMPA- NIES. If you are unable to obtain comments within that timeframe please contact The Town of Vail. Subject Property Address: Primary Contact / Owner Representative: Lot Block Subdivision: Primary Contact /O�tiner Representative Signature Phone: Plans Dated: NOTES: 1. Utility locations must be obtained before digging. 2. A Revocable Right -of -Way Permit may be required for any improvements within a street right -of -way. Contact the Public Works Department for verification 970.479.2198. 3. It is the responsibility of the utility company and the applicant to resolve problems identified above. 4. The Primary Contact /Owner Representative is required to submit any revised drawings to the above agencies for re- approval & re- verification if the submitted plans are altered in any way after the authorized signature date. 03- Mar -10 Authorized Signature Comments Date QWEST 970.468.6860(tel) 970.468.0672(fax) Contacts: Samuel Tooley samuel.tooley@ XCEL HIGH PRESSURE GAS 970.262.4076 (tel) 970.468.1401 (fax) Contact: Rich Sisneros richard.sisneros xcelener .com HOLY CROSS ENERGY 970.947.5471 (tel) 970.945.4081 (fax) Contact: Diana Golis dqolis@holycross.com XCEL Energy 970.262.4038 (fax) 970.262.4024 (tel) Contacts: Kit Bogert Kathryn - Bo ert xcelener .com EAGLE RIVER WATER & SANITA- TION DISTRICT 970.476.7480 (tel) 970.476.4089 (fax) Contact: Fred Haslee fhaslee @erwsd.org COMCAST CABLE 970.619.0752 (tel) 970.468 -2672 (fax) /Com Contact: Tony Hildreth tony_hildreth @cable.comcas CDOT (Only in CDOT Righ of -way) 970.683.6284 (tel) Contact: Dan Roussin Daniel. roussin @dot. state. co. us NOTES: 1. Utility locations must be obtained before digging. 2. A Revocable Right -of -Way Permit may be required for any improvements within a street right -of -way. Contact the Public Works Department for verification 970.479.2198. 3. It is the responsibility of the utility company and the applicant to resolve problems identified above. 4. The Primary Contact /Owner Representative is required to submit any revised drawings to the above agencies for re- approval & re- verification if the submitted plans are altered in any way after the authorized signature date. 03- Mar -10 William F. Pierce, Architect Tyson Dearduff, Director of Architecture Kathy Heslinga, Office Manager February 7, 2011 To: Design Review Board Tyrolean Condominiums Unit 7 Tyrolean Condominiums, Lot 5D Vail Village 1 St Filling PIERCE ARCHITECTS VAIL, COLORADO Purpose: Pierce Architects on behalf of the owner is requesting to utilize the 250 square foot addition permitted for dwelling units in HDMF zone district. Details of Proposal: There are two additions being proposed, one to the south and one to the east. The proposed design is an expansion on an existing Tyrolean unit (Unit 7) of 250 square feet by enclosing existing decks. Other properties in the vicinity have completed similar expansions (see "Background" below). The additions will be in direct relation and accordance with the overall design of the existing Tyrolean building. The scale of the additions is in accordance and harmony with the overall building as well as other additions to the property. The proposed design conforms to the overall design as well as brings architectural enhancements to the building while retaining the existing charm. All materials and forms fit with the current architecture represented on the site. The proposed use is in accordance with the underlying zone district — High Density Multiple Family as well as the surrounding buildings. Background: - In 1968, the Blue Cow Restaurant was constructed on the southern portion of the subject property. - In 1969, the property was zoned High Density Multiple Family (HDMF) which allowed restaurants as an accessory use with in a multiple - family building. - In 1973, the Town of Vail re- adopted the zoning regulations (Ordinance No. 8, 1973) and removed restaurants as an accessory use in the HDMF zone district, thereby making the Tyrolean Restaurant (the Blue Cow Restaurant) a nonconforming use. - In 1980, the Tyrolean Condominiums were constructed and attached to the existing "Blue Cow" restaurant structure. The subject property currently contains 8 individual dwelling units, the Tyrolean Restaurant, which includes two additional dwelling units, 20 enclosed parking spaces and three surface parking spaces. 1650 Fallndge Road, Suite C- I Vail, Colorado 81657 P: 970.476.6342 F: 970.476.4901 www.vailarchitects.com FRITZLEN PIERCE ARCHITECTS VAIL, COLORADO - On May 10, 2004, a variance was approved, with one condition, to allow the floor area that was once the Tyrolean Restaurant to be converted into gross residential floor area (GRFA). - On July 26, 2004, a setback variance was granted for Unit 9 to allow for construction of a minor exterior alteration. - On May 9, 2005, a setback variance and site coverage variance was granted for Unit 6 to allow for the construction of a residential addition within the side setback. - On May 9, 2005, a setback variance was granted for Unit 7 to allow for the construction of a residential addition within the side setback. Upon completion, the building was non - conforming with respect to site coverage, setbacks and exterior lighting. This pre- existing nonconforming condition through no fault of the applicant(s) is a hardship based on the strict interpretation of the code. 1650 Fallridge Road, Suite C- I Vail, Colorado 81657 Y: 970.476.6342 F: 970.476.4901 www.vailarchitects.com Land Title Guarantee Company Date: January 24, 2011 BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN 791 CRANDON BLVD, APT 807 KEY BISCAYNE, FL 33149 Enclosed please find the title insurance policy for your property located at 400 MEADOW D RIVE #7 AKA UNIT 7 TYR CONDOS VAIL CO 81657 The following endorsements are included in this policy: Deletion of Exceptions 1 -3 Deletion of General Exception 4 Endorsement 130.3 Please review this policy in its entirety. In the event that you find any discrepancy, or if you have any questions regarding your final title policy, you may contact Title Department Phone: 970-476-2251 Fax:970- 476 -4732 Please refer to our Order No. V50027940 Should you decide to sell the property described in this policy, or if you are required to purchase a new title commitment for mortgage purposes, you may be entitled to a credit toward future title insurance premiums. Land Title Guarantee Company will retain a copy of this policy so we will be able to provide future products and services to you quickly and efficiently. Thank you for giving us the opportunity to serve you. Sincerely, Land Title Guarantee Company Owner's Policy of Title Insurance ISSUED BY First American Title Insurance Company ANY NOTICE OF CLAIM AND ANY OTHER NOTICE OR STATEMENT IN WRITING REQUIRED TO BE GIVEN TO THE COMPANY UNDER THIS POLICY MUST BE GIVEN TO THE COMPANY AT THE ADDRESS SHOWN IN SECTION 18 OF THE CONDITIONS, COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation (the "Company') insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the title; This covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by G) forgery, fraud, undue influence, duress, incompetency, incapacity, of impersonation; (ri) failure of any person or Entity to have authorized a transfer or conveyance; (ii) a document affecting Title not property created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vin) a document not properly fled, recorded, or indexed in the Public Records including faikre to perform those acts by electronic means authorized by law; or (vh) a defective judicial or administrative proceeding. (b) The ben of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zonn g) restricting, regulating, prohibiting, or relating to (a) the occupancy, use or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of lard; or (d) environmental protection if a notice, describing any part of the Land, is recorded In the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Lard, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain If a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Tide being vested other than as stated in Schedue A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records () to be timely, or () to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. Issued through the Office of: Land Title Guarantee Company 610 WEST LIONSHEAD CIRCLE #200 VAIL, CO 81657 97D- 476.2251 'z4Sign FIRST AMERICAN TITLE INSURANCE COMPANY / 7 AO.FA.06 (ALTA 06 -17 -06) Cover Page 1 of 5 AM E a.I CAN LAN TIT LE ASSOCIATION It- EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Arty law, ordinance, permit, or governmental regulation (inducting those relating to building and zoning) restricting, regulating, prohibiting or relating to O the occupancy, use, or enjoyment of the Land; O the character, dimensions, or location of any improvement erected on the Land; (ii) the subdivision of land; or (v) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5 (b) Any govemmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify w limit the coverage provided under Covered Risk 1 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (twwever, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had pad value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by govemmental aurthonty and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Tide as shown in Schedule A. CONDITIONS DEFINITION OF TERMS The flowing terms when used in this policy mean. (a) "Amount of Insurance ": The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, mcreased by Section 8(b) or decreased by Sections 10 and 11 of these Conditions. (b) "Date of Policy ": The date designated as "Date of Policy" in Schedule A. (c) "Entity ": A corporation, partnership, trust, limited liability company, or other similar legal entity. (ctj "Insured ": The Insured named in Schedule A. 0 The term "Insured" also inckrdes (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives, or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution, or reorganization; (C) successors to an Insured by its conversion to another kind of Entity; (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title (1) if the stock, shares, memberships, or other equity interests of the grantee are wholly -owned by the named Insured. (2) 6 the grantee wholly owns the named Insured, (3) if the grantee is wholly -owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both wholly -owned by the same person or Entity, or (4) if the grantee is a trustee or beneficiary of a trust created by a written Instrument established by the Insured named in Schedule A for estate planning purposes. O With regard to (A), (B), (C), and (D) reserving, however, all rights and defensed as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant ": An Insured claiming loss or damage. (f) "Knowledge" or "Known ": Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart contrucdve notice of matters affecting the Title. O "Land ": The land described in Schedule A, and affixed improvements that by law constitute real property. The term "land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenue, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the land is insured by this policy. (h) "Mortgage": Mortgage, deed of trot, trust deed, or other security instrurnent, including one evidenced by electronic means authorized by law. Ot "Public Records ". Records established order state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shag also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. Q "Title ": The estate or interest described in Schedule A. "Unmarketable Title ": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease, or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Tide. This policy shall not continue in force in favor of any purchaser from the Insured of either O an estate or interest in the Land, or (i) an obligation secured by a purchase money Mortgage given to the Insured. AOTA.06.2 Cover Page 2 of 5 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall notify the Company promptly in writing 0 in case of any litigation as set forth in Section 5(a) of these Conditions, (i) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy, or (d) if the Title, as insured, is rejected as Unmarketable Title. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. 4. PROOF OF LOSS In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that consitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS (a) Upon written request by the Insured, and subject to the options contained in Section 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Inswed in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only chase stated causes of action alleging matters insured against by this poky. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to o*ct for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other couursel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. lb) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desireable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be table to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must to so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in its sole discretion, to appeal any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid n in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and () in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured, If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligation to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for exanunation, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including (woks, ledgers, checks, memoranda, correspondence, reports, e{nails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, of requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. AN information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to subunit for examination under oath produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or govemmentaf regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in the subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. To pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or () To pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and expensed incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)n or (1), the Company's obligations to the Insured under this policy for the daimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of 01 the Amount of Insurance; or (d)) the difference between the value of the Title as insured and the value of the Tide subject to the risk insured against by this policy. AOTA.06.3 Cover Page 3 of 5 0) If the Company pursues its rights under Section 5 of these Conditions and is unsuccessful in establishing the Title, as insured, 0 the Amount of Insurance shall be increased by 10%, and Gl the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date R is settled and paid. (c) In addition to the extent of liability under (a) and 0), the Company will also pay those costs, attorneys' tees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY (a) If the Company establishes the TrUe, or removes the alleged defect, lien, or encumbrance, or cures the lack of a right of access to or from the Land, or cures the claim of Unmarketable Title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Tide and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other polieys of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION Either the Company or the Insured may demand that the claim or controversy shall be submitted to artitration pursuant to the Title Insurance Arbitration Rules of the American Lard Title Association ( "Rules'). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons, Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, of to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company of the Insured. Ail arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and tinder the Runes shag be binding upon the parties. Judgment upon the award rendered by the Arbiitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim or loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. W Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not in modify any of the terms and provisions of the policy, (a) modify any prior endorsement, lid) extend the Date of Policy, or Gv) increase the Amount of Insurance. 16. SEVERABILITY In the event any provision of this poicy, in whole or in part, is held invalid or unenforceabe under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. A0,FA.D6A Cover Page 4 of 5 17. CHOICE OF LAW; FORUM (a) Choice of Law; The Insured acknowledges the Company has underwntten the risks covered by this policy and determined the premum charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determne the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy, In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum; Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of Amenca or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at: 1 First American Way, Santa Ana, CA 92707, Attn: Claims Department AO.FA.06.5 Cover Page 5 of 5 Form AO /FA Our Order No. V50027940 Schedule A Amount $3,300,000.00 Property Address: 400 MEADOW DRIVE #7 AKA UNIT 7 TYROLEAN CONDOS VAIL CO 81657 1. Policy Date: May 13, 2010 at 5:00 P.M. 2. Name of Insured: BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN ISLANDS 3. The estate or interest in the Land described or referred to in this Schedule and which is covered by this policy is: A FEE SIMPLE 4. Title to the estate or interest covered by this policy at the date hereof is vested in: BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN ISLANDS 5. The land referred to in this policy is described as follows: SEE ATTACHED "EXHIBIT A" FOR LEGAL DESCRIPTION This Policy valid only if Schedule B is attached. Land Title Guarantee Company Representing First American Title Insurance Company Our Order No. V50027940 EXHIBIT "A" LEGAL DESCRIPTION PARCEL L CONDOMINIUM UNIT NO. 7, TYROLEAN CONDOMINIUMS ACCORDING TO THE CONDOMINIUM MAP THEREOF RECORDED FEBRUARY 27, 1981 IN BOOK 319 AT PAGE 138 AND AMENDED CONDOMINIUM MAP RECORDED JUNE 19, 2006 AT RECEPTION NO. 200616161, AND AMENDED CONDOMINIUM MAP RECORDED DECEMBER 31, 2009 UNDER RECEPTION NO. 200928002, AND AS DEFINED IN THE CONDOMINIUM DECLARATION THEREFORE RECORDED FEBRUARY 27, 1981 IN BOOK 319 AT PAGE 139, FIRST AMENDMENT THERETO RECORDED MAY 23, 2005 UNDER RECEPTION NO. 916607 AND SECOND AMENDMENT THERETO RECORDED DECEMBER 31, 2009 UNDER RECEPTION NO. 200927947, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL 2: CONDOMINIUM UNIT PSU 2 AND 3„ TYROLEAN CONDOMINIUMS, A RESUBDNISION OF UNIT 9, ACCORDING TO THE CONDOMINIUM MAP RECORDED DECEMBER 31, 2009 AT RECEPTION NO. 200928002, AND AS DEFINED AND DESCRIBED IN THE CONDOMINIUM DECLARATION RECORDED FEBRUARY 27, 1981, 215509 AND FIRST AMENDMENT RECORDED MAY 23, 2005 RECEPTION NO. 916607, AND SECOND AMENDMENT THERETO RECORDED DECEMBER 31, 2009 UNDER RECEPTION NO. 200927947, COUNTY OF EAGLE, STATE OF COLORADO. Form AO /FA Our Order No. V50027940 Schedule B This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: General Exceptions: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. 2010 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE. 6. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED JULY 11, 1899, IN BOOK 48 AT PAGE 475 AND RECORDED SEPTEMBER 4, 1923 IN BOOK 93 AT PAGE 98. 7. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED JULY 11, 1899, IN BOOK 48 AT PAGE 475 AND RECORDED SEPTEMBER 4, 1923 IN BOOK 93 AT PAGE 98. 8. EASEMENT AND RIGHT -OF -WAY FOR ELECTRICAL TRANSMISSION OR DISTRIBUTION LINE PURPOSES AS GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC., IN INSTRUMENT RECORDED SEPTEMBER 19, 1980 IN BOOK 309 AT PAGE 652. 9. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED OCTOBER 25, 1963, IN BOOK 174 AT PAGE 179 AND AS AMENDED IN INSTRUMENT RECORDED AUGUST 30, 1971, IN BOOK 221 AT PAGE 497. 10. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, Form AO/FA Our Order No. V50027940 Schedule B LTG Policy No. TAAHSO027940 COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED IN INSTRUMENT RECORDED SEPTEMBER 04, 1975, IN BOOK 241 AT PAGE 629 AND AS AMENDED IN INSTRUMENT RECORDED DECEMBER 28, 1979, IN BOOK 296 AT PAGE 518. 11. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED CONDOMINIUM MAP OF TYROLEAN CONDOMINIUMS RECORDED FEBRUARY 27, 1981 IN BOOK 319 AT PAGE 138 AND AMENDED CONDOMINIUM MAP RECORDED JUNE 19, 2006 AT RECEPTION NO. 200616161 AND AS AMENDED IN INSTRUMENT RECORDED DECEMBER 31, 2009 UNDER RECEPTION NO. 200928002. 12. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, WHICH ARE A BURDEN TO THE CONDOMINIUM UNIT DESCRIBED IN SCHEDULE A, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED FEBRUARY 27, 1981, IN BOOK 319 AT PAGE 139 AND AMENDMENT RECORDED MAY 23, 2005 AT RECEPTION NO. 916607, SECOND AMENDMENT RECORDED DECEMBER 31, 2009 RECEPTION NO. 200927947. (ITEMS ABOVE AFFECT PARCEL 1 AND PARCEL 2) 13. DEED OF TRUST DATED APRIL 23, 2010 (EFFECTIVE MAY 6, 2010), FROM BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN ISLANDS TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF JPMORGAN CHASE BANK, N.A. TO SECURE THE SUM OF $2,310,000.00 RECORDED MAY 13, 2010, UNDER RECEPTION NO. 201009134. ITEM NOS. 1 THROUGH 3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED EXCEPT AS TO ANY LIENS RESULTING FROM WORK OR MATERIAL CONTRACTED FOR OR FURNISHED AT THE REQUEST OF BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN ISLANDS. Land Title Guarantee Company Case V50027940 Policy TAAHSO027940 Loan # 1088050877 ENDORSEMENT 130.3 The above referenced policy is hereby amended by adding the following to Schedule A following the policy amount. The policy amount will automatically increase by 10$ of the amount shown above on each of the first five anniversaries of the policy date. This endorsement is effective only when attached to an ALTA Plain Language Policy insuring a 1 -to -4 family residence. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Representing First American Title Insurance Company Land Title Guarantee Company Case V50027940 Policy TAAHSO027940 Loan # 1088050877 ENDORSEMENT 130.3 The above referenced policy is hereby amended by adding the following to Schedule A following the policy amount. The policy amount will automatically increase by 10$ of the amount shown above on each of the first five anniversaries of the policy date. This endorsement is effective only when attached to an ALTA Plain Language Policy insuring a 1 -to -4 family residence. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Countersigned: Authorized Officer or Agent Representing First American Title Insurance Company 2.5 2.1 n z Q x e� � 2.s 2.1 0 a� m � a a .21kno- . sall-V I cr� r Warren Campbell From: Warren Campbell Sent: Thursday, March 03, 201110:24 AM To: 'Tyson Dearduff' Cc: William F. Pierce Subject: RE: Scan from a Xerox WorkCentre Attachments: Tyrolean Unit 7 DRB approval 030211.pdf Please find the attached DRB Action Form. E looks best to me, but I believe F meets the DRBs conditionlook best to me - - - -- Original Message---- - From: Tyson Dearduff [mailto:tdearduff @vailarchitects.com] Sent: Wednesday, March 02, 20114:31 PM To: Warren Campbell Cc: William F. Pierce Subject: FW: Scan from a Xerox WorkCentre Warren, attached are 6 alternates for your review. Pretty subtle variations. Bill likely would not choose the option with center mullion. E & F have a smaller radius curve so more of a semi - circle than an arc. Tyson - - - -- Original Message---- - From: Xerox @vailarchitects.com [ma ilto :Xerox @vai larchitects.com] Sent: Wednesday, March 02, 201110:51 AM To: Tyson Dearduff Subject: Scan from a Xerox WorkCentre Please open the attached document. It was scanned and sent to you using a Xerox WorkCentre. For more information on Xerox products and solutions, please visit http://www.xerox.com 1