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HomeMy WebLinkAboutGeneral InfoFILE COPY Department of Community Development 75 South Frontage Road Vail, Colorado 81657 970-479-2138 FAX 970-479-2452 www.vailgov.com Vail Development, LLC Attn: Manager 50 South Sixth Street, Suite 1480 Minneapolis, MN 55402 January 31, 2005 Re: Four Seasons Development on Property located in the Town of Vail, County of Eagle and State of Colorado and legally described in Exhibit A attached hereto (the "Property") Ladies and Gentlemen: We understand that Nicollet Island Development Co. (the "Nicollet") has received approval from The Town of Vail to proceed with development of a Four Seasons resort, to include a hotel, condominium units, fractional fee units and Type III employee housing units, as further described in that certain Approved Development Plan for Special Development District No. 36, Four Seasons Resort, stamped approved by the Town of Vail on May 6, 2003 (the "Approved Development Plan"). The development of the Property as contemplated by the Approved Development Plan is referred to herein as the "Development." In regard to the Development, we understand that Nicollet ha s assigned all of its right, title and interest in the Development to Vail Development, LLC (the "Developer") and the Developer requires confirmation of certain facts from the Town of Vail (the "Town"), as set forth below: The Property is currently zoned Public Accommodation Zone District (the "District"). The Property lies within Special Development District No. 36, Four Seasons Resort, as amended by the Town's Ordinance Nos. 9 and 10, Series of 2003 (as amended, the "Special District"). 2. The Town's Ordinance No. 9, Series of 2003 ("Ordinance No. 911) and Ordinance No. 10, Series of 2003 ("Ordinance No. 10") were adopted by the Town to facilitate redevelopment of the Property as contemplated therein. The effective dates of such ordinances were amended, pursuant to the Town's Ordinance No. 1, Series of 2004 ("Ordinance No. 1"), to July 10, 2004. Ordinance No. 9, Ordinance No. 10 and Ordinance No. 1 are in full force and effect, have not been subsequently amended and have not been in any way rescinded by the Town. 95834.doc ~y i. RECYCLED PAPER Vail Development LLC January 31, 2005 Page 2 The development rights and entitlements granted by Ordinance No. 9 and Ordinance No. 10 (collectively, the "Entitlements") run with the title to the Property and are fully and absolutely assignable and shall remain effective until October 7, 2006 and Ordinance No. 10 shall remain in effect until otherwise amended. To preserve the Entitlements, construction of the Development must commence on or before October 7, 2006 and the Developer must thereafter continue diligently toward to completion of the Development, pursuant to Section 12-9A-12, Time Requirements, Vail Town Code. 4. The Approved Development Plan was adopted by the Town, as set forth in Ordinance No. 9. 5. The Development, and the intended uses of the Development as described in the Approved Development Plan, are permitted uses with in the District and the Special District, except the Type III Employee Housing Units and the Fractional Fee Club Units which are conditional uses. 6. The Approved Development Plan complies in all respects with all applicable zoning and other codes and regulations of the Town and other requirements of the Town specific to the Development of the Property, including but not limited to those applicable to the District and the Special District. 7. No subdivision or plat of the Property is required as a condition to obtaining a building permit for the Development. 8. Other than the conditional uses contemplated in Ordinance No. 9, no other conditional use or special use permits are required to construct the Development in accordance with the Approved Development Plan. 9. The Developer will not be responsible for constructing any public or off-site improvements in conjunction with the Development, except as set forth in Ordinance No. 9 and the Memorandum of Understanding attached as Exhibit A to Ordinance No. 9. 10. Other than for the specific requirements set forth in Ordinance No. 9 for issuance of a building permit, temporary certificate of occupancy and final certificate of occupancy for the Development, no other Town approvals, permits or licenses need to be obtained by the Developer before proceeding with or completing the Development. 11. To the best of my knowledge, there are no presently contemplated condemnation, right- of-way takings or other street improvements or widening affecting the Property or the streets adjacent thereto, except as described in Ordinance No. 9. 12. According "Flood Insurance Rate Map, Community-Panel Number 080054 002 C, revised, May 1, 1985, the Property is not located in a flood hazard zone. 95834.doc Vail Development LLC January 31, 2005 Page 3 13. Municipal sanitary sewer, storm sewer and water services are available to the Property. 14. Mining is not permitted by zoning in the Town of Vail. 15. This letter may be relied upon by Nicollet, the Developer, any lenders providing financing for the Development, Chicago Title Insurance Company, Land Title Guarantee Company, and their successors and assigns. Sincerely, TOWN OF VAIL a -'o --j ~ - L'A=jZjzt=4 Print Name: George Ruther Title: Chief of Planning Phone No.: 970-479-2145 95834.doc EXHIBIT A LEGAL DESCRIPTION OF PROPERTY PARCEL A: A PART OF LOT A OF AMENDED MAP OF SHEET I OF 2 OF VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWESTERLY CORNER OF SAID LOT A; THENCE SOUTH 79 DEGREES 41 MINUTES 13 SECONDS EAST AND ALONG THE NORTHERLY LINE OF SAID LOT A, A DISTANCE OF 152.65 FEET TO THE NORTHEAST CORNER OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET; THENCE NORTH 74 DEGREES 16 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID WESTERLY LINE OF SAID LOT A, A DISTANCE OF 110.00 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO, TOGETHER WITH AN EASEMENT FOR INGRESS AND EGRESS BEING A PART OF LOT A OF AMENDED MAP OF SHEET 1 OF 2 VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEASTERLY CORNER OF LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 73 DEGREES 30 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG WESTERLY LINE A DISTANCE OF 29.15 FEET; THENCE SOUTH 73 DEGREES 30 MINUTES 12 SECONDS EAST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE EASTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID EASTERLY LINE A DISTANCE OF 29.15 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL B: A PART OF THE NORTHEAST ONE-OUARTER OF SECTION 7, TOWNSHIP 5 SOUTH, RANGE 80 WEST OF THE SIXTH PRINCIPAL MERIDIAN AND BEING A PART OF LOTS A, B, AND C OF AMENDED MAP OF SHEET 1 OF 2 OF VAIL VILLAGE SECOND FILING. COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 95834.doc i COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 7; THENCE SOUTHERLY AND ALONG THE EAST LINE OF THE NORTHEAST ONE-OUARTER OF SAID SECTION 7; 39.20 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE, 25.44 FEET TO A POINT ON THE WEST LINE OF VAIL ROAD; SAID POINT BEING THE NORTHEASTERLY CORNER OF SAID LOT A; THENCE CONTINUING ALONG THE AFOREMENTIONED LINE AND ALONG THE NORTHERLY LINE OF SAID LOT A, 152.65 FEET TO A POINT ON THE NORTHWESTERLY CORNER OF SAID LOT A. SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE ON AN ANGLE TO THE LEFT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG THE WEST LINE OF SAID LOT A, 110.0 FEET; THENCE ON AN ANGLE TO THE LEFT OF 73 DEGREES 53 MINUTES 12 SECONDS, 156.13 FEET TO THE WEST LINE OF VAIL ROAD; THENCE ON AN ANGLE TO THE RIGHT OF 73 DEGREES 53 MINUTES 12 SECONDS AND ALONG SAID WEST LINE 29.15 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 106 DEGREES 06 MINUTES 48 SECONDS, 156.13 FEET TO THE WEST LINE OF SAID LOT A; THENCE ON AN ANGLE TO THE LEFT OF 134 DEGREES 17 MINUTES 11 SECONDS, 67.00 FEET: THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS, 18.27 FEET; THENCE ON AN ANGLE TO THE LEFT OF 90 DEGREES 00 MINUTES 00 SECONDS, 86.00 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 102 DEGREES 13 MINUTES 17 SECONDS, 101.50 FEET, MORE OR LESS TO THE NORTHERLY LINE OF WEST MEADOW DRIVE; THENCE ON AN ANGLE TO THE RIGHT OF 38 DEGREES 13 MINUTES 30 SECONDS AND ALONG THE SAID NORTHERLY LINE 264.42 FEET TO A POINT OF CURVE; THENCE CONTINUING ALONG SAID NORTHERLY LINE AND ALONG A CURVE TO THE LEFT HAVING-A RADIUS OF 525.00 FEET, A CENTRAL ANGLE OF 06 DEGREES 23 MINUTES 12 SECONDS, AN ARC DISTANCE OF 58.52 FEET TO THE WESTERLY LINE OF LOT C; THENCE ON AN ANGLE TO THE RIGHT OF 84 DEGREES 48 MINUTES 35 SECONDS AND ALONG THE WESTERLY LINE OF LOT C, 251.25 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE 300.00 FEET; MORE OR LESS, TO THE TRUE POINT OF BEGINNING. 95834.doc x January341, 2005 Vail Development. LLC Attn: Manager 50 South Sixth Street. Suite 1480 Minneapolis, MN 55402 Re: Four Seasons Development on Property located in the Town of Vail, County of Eagle and State of Colorado and legally described in Exhibit A attached hereto (the "Property") Ladies and Gentlemen: Deleted: Nicollet Island Development Co.1 Attn: Thomas J. Brink¶ 821 Marquette Avenue South, Suite 600 We understand that Nicollet Island Development Co. (the "Nicolle has received Deleted: Developer approval from The Town of Vail to proceed with development of a Four Seasons resort, to include a hotel, condominium units, fractional fee units and Type III employee housing units, as further described in that certain Approved Development Plan for Special Development District No. 36, Four Seasons Resort, stamped approved by the Town of Vail on May 6, 2003 (the "Approved Development Plan"). The development of the Property as contemplated by the Approved Development Plan is referred to herein as the "Development." In regard to the Development, we understand that Nicollet Ila s.. assigned „all of itsritht, title and_i-ntere t.-in the._Develovinent; to_Vail jjD elopment, LLC (the `Developer") and the Developer requires confirmation of certain facts from the Town Deleted: of Vail (the "Town") as set forth below: The Property is currently zoned Public Accommodation Zone District (the "District"). The Property lies within Special Development District No. 36, Four Seasons Resort, as amended by the Town's Ordinance Nos. 9 and 10, Series of 2003 (as amended, the "Special District"). The Town's Ordinance No. 9, Series of 2003 ("Ordinance No. 9") and Ordinance No. 10, Series of 2003 ("Ordinance No. 10") were adopted by the Town to facilitate redevelopment of the Property as contemplated therein. The effective dates of such ordinances were amended, pursuant to the Town's Ordinance No. 1, Series of 2004 ("Ordinance No. 1"), to July 10, 2004. Ordinance No. 9, Ordinance No. 10 and Ordinance No. 1 are in full force and effect, have not been subsequently amended and have not been in any way rescinded by the Town. Deleted: 5 95834.doe Vail Development LLC January 31, 2005 _ Page 2 3. The development rights and entitlements granted by Ordinance No. 9 and Ordinance No. 10 (collectively, the "Entitlements") run with the title to the Property and are fully and absolutely assinable and shall remain effective until October 7, 2006 and Ordinance No. 10 shall remain in effect until otherwise amended. To preserve the Entitlements, construction of the Development must commence on or before October 7, 2006 and the Developer must thereafter continue diligently toward to completion of the Development, pursuant to Section 12-9A-12, Time Requirements, Vail Town Code. 4. The Approved Development Plan was adopted by the Town, as set forth in Ordinance No. 9. The Development, and the intended uses of the Development as described in the Approved Development Plan, are permitted uses with in the District and the Special District, except the Type III Employee Housing Units and the Fractional Fee Club Units which are conditional uses. 6. The Approved Development Plan complies in all respects with all applicable zoning and other codes and regulations of the Town and other requirements of the Town specific to the Development of the Property, including but not limited to those applicable to the District and the Special District. 7. No subdivision or plat of the Property is required as a condition to obtaining a building permit for the Development. 8. Other than the conditional uses contemplated in Ordinance No. 9, no other conditional use or special use permits are required to construct the Development in accordance with the Approved Development Plan. The Developer will not be responsible for constructing any public or off-site improvements in conjunction with the Development, except as set forth in Ordinance No. 9 and the Memorandum of Understanding attached as Exhibit A to Ordinance No. 9. 10. Other than for the specific requirements set forth in Ordinance No. 9 for issuance of a building permit, temporary certificate of occupancy and final certificate of occupancy for the Development, no other Town approvals, permits or licenses need to be obtained by the Developer before proceeding with or completing the Development. 11. To the best of my knowledge, there are no presently contemplated condemnation, right- of-way takings or other street improvements or widening affecting the Property or the streets adjacent thereto, except as described in Ordinance No. 9. 12. According "Flood Insurance Rate Map, Community-Panel Number 080054 002 C, revised, May 1, 1985, the Property is not located in a flood hazard zone. - ( Deleted: 5 95834.doc Vail Development LLC January 1_1,,_2-005 Page 3 - Deleted: 5 13. Municipal sanitary sewer, storm sewer and water services are available to the Property. 14. Mining is not permitted by zoning in the Town of Vail. 15. This letter may be relied upon by Nicollet. the Developer, any lenders providing financing for the Development, Chicago Title Insurance Company, Land Title Guarantee Company, and their successors and assigns. Sincerely, TOWN OF VAIL Print Name: George Ruther Title: Chief of Planning Phone No.: 970-479-2145 95834.doc EXHIBIT A LEGAL DESCRIPTION OF PROPERTY PARCEL A: A PART OF LOT A OF AMENDED MAP OF SHEET 1 OF 2 OF VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWESTERLY CORNER OF SAID LOT A; THENCE SOUTH 79 DEGREES 41 MINUTES 13 SECONDS EAST AND ALONG THE NORTHERLY LINE OF SAID LOT A, A DISTANCE OF 152.65 FEET TO THE NORTHEAST CORNER OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET; THENCE NORTH 74 DEGREES 16 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID WESTERLY LINE OF SAID LOT A, A DISTANCE OF 110.00 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO, TOGETHER WITH AN EASEMENT FOR INGRESS AND EGRESS BEING A PART OF LOT A OF AMENDED MAP OF SHEET 1 OF 2 VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEASTERLY CORNER OF LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 73 DEGREES 30 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG WESTERLY LINE A DISTANCE OF 29.15 FEET; THENCE SOUTH 73 DEGREES 30 MINUTES 12 SECONDS EAST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE EASTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID EASTERLY LINE A DISTANCE OF 29.15 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL B: A PART OF THE NORTHEAST ONE-OUARTER OF SECTION 7, TOWNSHIP 5 SOUTH, RANGE 80 WEST OF THE SIXTH PRINCIPAL MERIDIAN AND BEING A PART OF LOTS A, B, AND C OF AMENDED MAP OF SHEET 1 OF 2 OF VAIL VILLAGE SECOND FILING. COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 95834.doc COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 7; THENCE SOUTHERLY AND ALONG THE EAST LINE OF THE NORTHEAST ONE-OUARTER OF SAID SECTION 7; 39.20 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE, 25.44 FEET TO A POINT ON THE WEST LINE OF VAIL ROAD; SAID POINT BEING THE NORTHEASTERLY CORNER OF SAID LOT A; THENCE CONTINUING ALONG THE AFOREMENTIONED LINE AND ALONG THE NORTHERLY LINE OF SAID LOT A, 152.65 FEET TO A POINT ON THE NORTHWESTERLY CORNER OF SAID LOT A. SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE ON AN ANGLE TO THE LEFT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG THE WEST LINE OF SAID LOT A, 110.0 FEET; THENCE ON AN ANGLE TO THE LEFT OF 73 DEGREES 53 MINUTES 12 SECONDS, 156.13 FEET TO THE WEST LINE OF VAIL ROAD; THENCE ON AN ANGLE TO THE RIGHT OF 73 DEGREES 53 MINUTES 12 SECONDS AND ALONG SAID WEST LINE 29.15 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 106 DEGREES 06 MINUTES 48 SECONDS, 156.13 FEET TO THE WEST LINE OF SAID LOT A; THENCE ON AN ANGLE TO THE LEFT OF 134 DEGREES 17 MINUTES 11 SECONDS, 67.00 FEET: THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS, 18.27 FEET; THENCE ON AN ANGLE TO THE LEFT OF 90 DEGREES 00 MINUTES 00 SECONDS, 86.00 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 102 DEGREES 13 MINUTES 17 SECONDS, 101.50 FEET, MORE OR LESS TO THE NORTHERLY LINE OF WEST MEADOW DRIVE; THENCE ON AN ANGLE TO THE RIGHT OF 38 DEGREES 13 MINUTES 30 SECONDS AND ALONG THE SAID NORTHERLY LINE 264.42 FEET TO A POINT OF CURVE; THENCE CONTINUING ALONG SAID NORTHERLY LINE AND ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 525.00 FEET, A CENTRAL ANGLE OF 06 DEGREES 23 MINUTES 12 SECONDS, AN ARC DISTANCE OF 58.52 FEET TO THE WESTERLY LINE OF LOT C; THENCE ON AN ANGLE TO THE RIGHT OF 84 DEGREES 48 MINUTES 35 SECONDS AND ALONG THE WESTERLY LINE OF LOT C, 251.25 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE 300.00 FEET; MORE OR LESS, TO THE TRUE POINT OF BEGINNING. 95834.doc 2 TowNoFVaL /0~l3 CG, -VA l FILE COPY Department of Community Development 75 South Frontage Road Vail, Colorado 81657 970-479-2138 FAX 970-479-2452 www. vailgou com January 5, 2005 Nicollet Island Development Co. Attn: Thomas J. Brink 821 Marquette Avenue South, Suite 600 Minneapolis, MN 55402 Re: Four Seasons Development on Property located in the Town of Vail, County of Eagle and State of Colorado and legally described in Exhibit A attached hereto (the "Property") Ladies and Gentlemen: We understand that Nicollet Island Development Co. (the "Developer") has received approval from The Town of Vail to proceed with development of a Four Seasons resort, to include a hotel, condominium units, fractional fee units and Type III employee housing units, as further described in that certain Approved Development Plan for Special Development District No. 36, Four Seasons Resort, stamped approved by the Town of Vail on May 6, 2003 (the "Approved Development Plan"). The development of the Property as contemplated by the Approved Development Plan is referred to herein as the "Development." In regard to the Development, we understand that the Developer requires confirmation of certain facts from the Town of Vail (the "Town"), as set forth below: The Property is currently zoned Public Accommodation Zone District (the "District"). The Property lies within Special Development District No. 36, Four Seasons Resort, as amended by the Town's Ordinance Nos. 9 and 10, Series of 2003 (as amended, the "Special District"). 2. The Town's Ordinance No. 9, Series of 2003 ("Ordinance No. 9") and Ordinance No. 10, Series of 2003 ("Ordinance No. 1011) were adopted by the Town to facilitate redevelopment of the Property as contemplated therein. The effective dates of such ordinances were amended, pursuant to the Town's Ordinance No. 1, Series of 2004 ("Ordinance No. 1 to July 10, 2004. Ordinance No. 9, Ordinance No. 10 and Ordinance No. 1 are in full force and effect, have not been subsequently amended and have not been in any way rescinded by the Town. 95834.doc RECYCLED PAPER Vail Development LLC January 5, 2005 Page 2 The development rights and entitlements granted by Ordinance No. 9 and Ordinance No. 10 (collectively, the "Entitlements") shall remain effective until October 7, 2006 and Ordinance No. 10 shall remain in effect until otherwise amended. To preserve the Entitlements, construction of the Development must commence on or before October 7, 2006 and the Developer must thereafter continue diligently toward to completion of the Development, pursuant to Section 12-9A-12, Time Requirements, Vail Town Code. 4. The Approved Development Plan was adopted by the Town, as set forth in Ordinance No. 9. 5. The Development, and the intended uses of the Development as described in the Approved Development Plan, are permitted uses with in the District and the Special District, except the Type III Employee Housing Units and the Fractional Fee Club Units which are conditional uses. 6. The Approved Development Plan complies in all respects with all applicable zoning and other codes and regulations of the Town and other requirements of the Town specific to the Development of the Property, including but not limited to those applicable to the District and the Special District. 7. No subdivision or plat of the Property is required as a condition to obtaining a building permit for the Development. 8. Other than the conditional uses contemplated in Ordinance No. 9, no other conditional use or special use permits are required to construct the Development in accordance with the Approved Development Plan. 9. The Developer will not be responsible for constructing any public or off-site improvements in conjunction with the Development, except as set forth in Ordinance No. 9 and the Memorandum of Understanding attached as Exhibit A to Ordinance No. 9. 10. Other than for the specific requirements set forth in Ordinance No. 9 for issuance of a building permit, temporary certificate of occupancy and final certificate of occupancy for the Development, no other Town approvals, permits or licenses need to be obtained by the Developer before proceeding with or completing the Development. 11. To the best of my knowledge, there are no presently contemplated condemnation, right- of-way takings or other street improvements or widening affecting the Property or the streets adjacent thereto, except as described in Ordinance No. 9. 12. According "Flood Insurance Rate Map, Community-Panel Number 080054 002 C, revised, May 1, 1985, the Property is not located in a flood hazard zone. 13. Municipal sanitary sewer, storm sewer and water services are available to the Property. 95834.doc Vail Development LLC January 5, 2005 Page 3 14. Mining is not permitted by zoning in the Town of Vail. 15. This letter may be relied upon by the Developer, any lenders providing financing for the Development, Chicago Title Insurance Company, Land Title Guarantee Company, and their successors and assigns. Sincerely, TOWN OF VAIL u,.~wr Print Name: eorge Ruther Title: Chief of Planning Phone No.: 970-479-2145 95834.doc EXHIBIT A LEGAL DESCRIPTION OF PROPERTY PARCEL A: A PART OF LOT A OF AMENDED MAP OF SHEET 1 OF 2 OF VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWESTERLY CORNER OF SAID LOT A; THENCE SOUTH 79 DEGREES 41 MINUTES 13 SECONDS EAST AND ALONG THE NORTHERLY LINE OF SAID LOT A, A DISTANCE OF 152.65 FEET TO THE NORTHEAST CORNER OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET; THENCE NORTH 74 DEGREES 16 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID WESTERLY LINE OF SAID LOT A, A DISTANCE OF 110.00 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO, TOGETHER WITH AN EASEMENT FOR INGRESS AND EGRESS BEING A PART OF LOT A OF AMENDED MAP OF SHEET 1 OF 2 VAIL VILLAGE, SECOND FILING, COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEASTERLY CORNER OF LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG THE EASTERLY LINE OF SAID LOT A, A DISTANCE OF 125.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 73 DEGREES 30 MINUTES 12 SECONDS WEST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE WESTERLY LINE OF SAID LOT A; THENCE SOUTH 0 DEGREES 23 MINUTES 00 SECONDS EAST AND ALONG WESTERLY LINE A DISTANCE OF 29.15 FEET; THENCE SOUTH 73 DEGREES 30 MINUTES 12 SECONDS EAST A DISTANCE OF 156.13 FEET TO A POINT OF INTERSECTION WITH THE EASTERLY LINE OF SAID LOT A; THENCE NORTH 0 DEGREES 23 MINUTES 00 SECONDS WEST AND ALONG SAID EASTERLY LINE A DISTANCE OF 29.15 FEET TO THE TRUE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL B: A PART OF THE NORTHEAST ONE-OUARTER OF SECTION 7, TOWNSHIP 5 SOUTH, RANGE 80 WEST OF THE SIXTH PRINCIPAL MERIDIAN AND BEING A PART OF LOTS A, B, AND C OF AMENDED MAP OF SHEET 1 OF 2 OF VAIL VILLAGE SECOND FILING. COUNTY OF EAGLE, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 95834.doc COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 7; THENCE SOUTHERLY AND ALONG THE EAST LINE OF THE NORTHEAST ONE-OUARTER OF SAID SECTION 7; 39.20 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE, 25.44 FEET TO A POINT ON THE WEST LINE OF VAIL ROAD; SAID POINT BEING THE NORTHEASTERLY CORNER OF SAID LOT A; THENCE CONTINUING ALONG THE AFOREMENTIONED LINE AND ALONG THE NORTHERLY. LINE OF SAID LOT A, 152.65 FEET TO A POINT ON THE NORTHWESTERLY CORNER OF SAID LOT A. SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE ON AN ANGLE TO THE LEFT OF 100 DEGREES 41 MINUTES 47 SECONDS AND ALONG THE WEST LINE OF SAID LOT A, 110.0 FEET; THENCE ON AN ANGLE TO THE LEFT OF 73 DEGREES 53 MINUTES 12 SECONDS, 156.13 FEET TO THE WEST LINE OF VAIL ROAD; THENCE ON AN ANGLE TO THE RIGHT OF 73 DEGREES 53 MINUTES 12 SECONDS AND ALONG SAID WEST LINE 29.15 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 106 DEGREES 06 MINUTES 48 SECONDS, 156.13 FEET TO THE WEST LINE OF SAID LOT A; THENCE ON AN ANGLE TO THE LEFT OF 134 DEGREES 17 MINUTES 11 SECONDS, 67.00 FEET: THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS, 18.27 FEET; THENCE ON AN ANGLE TO THE LEFT OF 90 DEGREES 00 MINUTES 00 SECONDS, 86.00 FEET; THENCE ON AN ANGLE TO THE RIGHT OF 102 DEGREES 13 MINUTES 17 SECONDS, 101.50 FEET, MORE OR LESS TO THE NORTHERLY LINE OF WEST MEADOW DRIVE; THENCE ON AN ANGLE TO THE RIGHT OF 38 DEGREES 13 MINUTES 30 SECONDS AND ALONG THE SAID NORTHERLY LINE 264.42 FEET TO A POINT OF CURVE; THENCE CONTINUING ALONG SAID NORTHERLY LINE AND ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 525.00 FEET, A CENTRAL ANGLE OF 06 DEGREES 23 MINUTES 12 SECONDS, AN ARC DISTANCE OF 58.52 FEET TO THE WESTERLY LINE OF LOT C; THENCE ON AN ANGLE TO THE RIGHT OF 84 DEGREES 48 MINUTES 35 SECONDS AND ALONG THE WESTERLY LINE OF LOT C, 251.25 FEET TO THE SOUTH RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6; THENCE ON AN ANGLE TO THE RIGHT OF 90 DEGREES 00 MINUTES 00 SECONDS AND ALONG SAID SOUTH RIGHT OF WAY LINE 300.00 FEET; MORE OR LESS, TO THE TRUE POINT OF BEGINNING. 95834.doc