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HomeMy WebLinkAboutADM1200014 1 1 AIL TO WNOF ADMINISTRATIVE ACTION FORM Department of Community Development 75 South Frontage Road Vail, CO 81657 tel: 970 - 479 -2138 fax: 970 - 479 -2452 web: www.vailgov.com Project Name: LAZIER PLAT AMENDMENT Application Type: CondThPl ADM Number: ADM120001 Parcel: 2101- 082 - 2202 -2 2101 - 082 - 2202 -3 Project Description: MOVE THE DIVIDING WALL BETWEEN UNITS 102 AND 103. Participants: OWNER LAZIER, ROBERT T. & DIANE J. 02/28/2012 PO BOX 1325 VAI L CO 81658 APPLICANT LAZIER, ROBERT T. & DIANE J. 02/28/2012 PO BOX 1325 VAI L CO 81658 Project Address: 225 WALL ST VAIL Location: WALL STREET BUILDING (LAZIER ARCADE) UNI Legal Description: Lot: B Block: 5B Subdivision: LAZIER ARCADE CONDO Comments: See conditions BOARD /STAFF ACTION Motion By: Action: STAFFAPR Second By: Vote: Date of Approval: 02/29/2012 Meeting Date: 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). Planner: Warren Campbell DRB Fee Paid: $100.00 -" Department of Community Development r ` 75 South Frontage Road TOWN OF VAIL ` Vail, CO 81657 �47 ; 9 Tel: 970479 -2128 www.vailgov.com Devel pment Review Coordinator - Ali VAIL Administrative Application Condominium and Townhouse Plat General Information: Condominium and townhouse plats which do not constitute "conversions" from rental as defined in Section 13 -7 -2, Definitions, Vail Town Code may be approved by the administrator, subject to review by other Town of Vail departments. Please see Section 13 -6, Condominium and Townhouse Plats, Vail Town Code for more detailed information. Vail Town Code can be found on the Town's website at www.vailgov,com Fee: $100 Recording Fees: Please visit the Eagle County website http: / /www.eaglecounty.us /clerk /publicRecords.cfm for the most up -to -date recording fees and check with your planner prior to submitting the payment. A check written out to the Eagle County Clerk and Recorder is required to be submitted once the plat has been approved by the Planning and Environmental Commission and prior to the recording of the plat. Description of the Reguest: Physical Address: Parcel Number � t 0 °� °ZQ V -�-� f-- U Property Owner: Mailing Address: _(n t+ Owner's Signature: Primary Contact/ Mailing Address: her Reoresentative: k - t, cr (Contact Eagle Co. Assessor at 970 - 328 -8640 for parcel no.) ---- _C:� Phone: Phone: C, 1 E- Mail: ��`� e Fax: For Office Use Only: Cash_ CC: Visa / MC Last 4 CC # Auth # Check # '7911 Fee Paid: T? 10p.Eflo Received From: -� t�ET�r2S0� Meeting Date: ADM No.: �� n Ono 1 Planner: 0 , e , Project No: Ppa l —C©H 8 Zoning Land Use: Location of the Proposal: Lot: _ Block: 9,,f Subdivision: VjAiL Vi LL6Q E Ef t o� 01- Aug -11 wj TOWN OF VA JOINT PROPERTY OWNER WRITTEN APPROVAL LETTER This form is applicable to all Planning & Environmental Commission applicants that share ownership of the subject prop- erty. For example, the subject property where construction is occurring is a duplex, condominium or multi- tenant build- ing. This form shall be completed by the applicant's neighbor /joint property owner. In the case of a multiple - family dwell- ing or multi- tenant building, the authority of the association shall complete this form and return it to the applicant to be submitted with the applicants complete application. I, (print name) of property located at approval of the plans dated , provide this letter as written which have been submitted to the Town of Vail Community Development Department for the proposed improvements to be completed at the address not- ed above. I understand that the proposed improvements include: (Signature) (Date) Additionally, please check the statement below which is most applicable to you: I understand that minor modifications may be made to the plans over the course of the review process to ensure compli- ance with the Town's applicable codes and regulations. (Initial here) I understand that all modifications, minor or otherwise, which are made to the plans over the course of the review pro- cess, be brought to my attention by the applicant for additional approval before undergoing further review by the Town. , a joint owner, or authority of the association, (Initial here) First American Title Insurance Company ALTA COMMITMENT Schedule A Our Order No. VC50032473 -5 Cust. Ref.: Property Address: 281 WALL ST. AKA 225 WALL. ST., UNIT 103 AND UNIT 1 LAZIER - ARCADE CONDO VAIL, CO 81657 1. Effective Date: January 05, 2012 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: "ALTA" Owner's Policy 06 -17 -06 $2,100,000.00 Proposed Insured: TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY "ALTA" Loan Policy 06 -17 -06 $1,070,049.50 Proposed Insured: FIRSTBANK, ITS SUCCESSORS AND /OR ASSIGNS "ALTA" Loan Policy 06 -17 -06 $856,039.60 Proposed Insured: FIRSTBANK, ITS SUCCESSORS AND /OR ASSIGNS 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Title to the estate or interest covered herein is at the effective date hereof vested in: ROBERT T. LAZIER AND DIANE J. LAZIER 5. The Land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL. DESCRIPTION Our Order No: VC50032473 -5 LEGAL DESCRIPTION PARCEL 1: ******************************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** NOTE: THE FOLLOWING LEGAL DESCRIPTION IS PRELIMINARY AND IS SUBJECT TO CHANGE: UPON COMPLIANCE WITH THE REQUIREMENTS UNDER SCHEDULE B -1, HEREIN, CONDOMINIUM UNIT NO. 103, LAZIER- ARCADE CONDOMINIUM BUILDING, ACCORDING TO THE MAP OF LAZIER ARCADE CONDOMINIUMS - SECOND AMENDMENT RECORDED _ AT RECEPTION NO _ AND AS DEFINED IN THE CONDOMINIUM DECLARATION RECORDED JANUARY 25, 1968 AT RECEPTION NO. 107451, AMENDED CONDOMINIUM DECLARATION RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918655, AND SECOND AMENDED CONDOMINIUM DECLARATION RECORDED ........ AT RECEPTION NO , COUNTY OF EAGLE, - - - - - -- --------------- STATE OF COLORADO. PARCEL 2: CONDOMINIUM UNIT NO. 1, LAZIER- ARCADE CONDOMINIUM BUILDING, ACCORDING TO THE MAP OF LAZIER ARCADE CONDOMINIUMS - FIRST AMENDMENT RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918656 AND AS DEFINED IN THE CONDOMINIUM DECLARATION RECORDED JANUARY 25, 1968 AT RECEPTION NO, 107451 AND THE AMENDED CONDOMINIUM DECLARATION RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918655, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VC50032473 -5 1'hc follm� ing are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to -wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are duc and payable. Item (d) Additional requirements, if any disclosed below: PARTIAL, RELEASE OF DEED OF TRUST DATED JUNE 19, 2008, FROM ROBERT T. LAZIER AND DIANE J. LAZIER TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF BANK OF THE WEST TO SECURE THE SUM OF $4,250,000.00 RECORDED JUNE 30, 2008, UNDER RECEPTION NO. 200813721. SAID DEED OF TRUST WAS FURTHER SECURED IN ASSIGNMENT OF RENTS RECORDED JUNE 30, 2008, UNDER RECEPTION NO. 200813722. PARTIAL RELEASE OF DEED OF TRUST DATED JUNE 25, 2008, FROM ROBERT T. LAZIER AND DIANE J. LAZIER TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF JAY K. PETERSON TO SECURE THE SUM OF $1,500,000.00 RECORDED JUNE 30, 2008, UNDER RECEPTION NO. 200813723. 3. CERTIFICATE OF SATISFACTION ISSUED BY THE CLERK OF DISTRICT COURT OF JUDGMENT IN FAVOR OF WELLS FARGO EQUIPMENT FINANCE INC AGAINST ROBERT T. LAZIER, ET AL IN THE AMOUNT OF $131,958.29 PLUS COURT COSTS ENTERED ON SEPTEMBER 19, 2011, TRANSCRIPT OF WHICH WAS RECORDED SEPTEMBER 28, 2011, UNDER RECEPTION NO. 201117986, CIVIL ACTION NO. 11CV- 000292, DISTRICT COURT IN AND FOR THE COUNTY OF EAGLE. CERTIFICATE OF SATISFACTION ISSUED BY THE CLERK OF DISTRICT COURT OF JUDGMENT IN FAVOR OF FIRSTBANK FKA FIRSTBANK OF VAIL AGAINST ROBERT T LAZIER AND DIANE J LAZIER IN THE AMOUNT OF $184,625.09 PLUS COURT COSTS ENTERED ON DECEMBER 06, 2011, TRANSCRIPT OF WHICH WAS RECORDED JANUARY 03, 2012, UNDER RECEPTION NO. 201200133, CIVIL ACTION NO. I ICV000845, DISTRICT COURT IN AND FOR THE COUNTY OF EAGLE. 5. RECORD DULY EXECUTED AND ACKNOWLEDGED CONDOMINIUM MAP OF LAZIER ARCADE. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VC50032473 -5 Continued: CONDOMINIUMS - SECOND AMENDMENT. NOTE: A COPY OF SAID CONDOMINIUM MAP MUST BE SUBMITTED TO LAND TITLE GUARANTEE COMPANY PRIOR TO RECORDATION. UPON RECEIPT AND REVIEW FURTHER REQUIREMENTS AND /OR EXCEPTIONS MAY BE NECESSARY. RECORDATION OF THE AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR LAZIER ARCADE CONDOMINIUMS. 7. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE NAME OF TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY AS A LLC. THE STATEMENT OF AUTHORITY MUST STATE UNDER WHICH LAWS THE ENTITY WAS CREATED, THE MAILING ADDRESS OF THE ENTITY, AND THE NAME AND POSITION OF THE PERSON(S) AUTHORIZED TO EXECUTE, INSTRUMENTS CONVEYING, ENCUMBERING, OR OTHERWISE AFFECTING TITLE TO REAL PROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE. COMPLYING WITH THE PROVISIONS OF SECTION 38 -30 -172, CRS. NOTE: THE CURRENT STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND RECORDER. OPERATING AGREEMENT FOR TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY DISCLOSES THOMAS B. HIGGINS TO BE THE MANAGER AUTHORIZED TO EXECUTE DOCUMENTS ON BEHALF OF SAID LLC. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED. 9. WARRANTY DEED FROM ROBERT T. LAZIER AND DIANE J. LAZIER TO TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY CONVEYING SUBJECT PROPERTY. 10. DEED OF TRUST FROM TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF FIRSTBANK TO SECURE THE SUM OF $1,070,049.50 11. DEED OF TRUST FROM TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VC50032473 -5 Continued: COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF FIRSTBANK TO SECURE THE SUM OF $856,039.60 THE FOLLOWING DELETIONS /MODIFICATIONS ARE FOR THE OWNER'S POLICY AND FIRST MORTGAGEE'S POLICY. NOTE: ITEMS 1 -3 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. NOTE: UPON THE APPROVAL OF THE COMPANY AND THE RECEIPT OF A NOTARIZED FINAL LIEN AFFIDAVIT, ITEM NO. 4 OF THE GENERAL EXCEPTIONS WILL BE AMENDED AS FOLLOWS: ITEM NO. 4 OF THE GENERAL EXCEPTIONS IS DELETED AS TO ANY LIENS OR FUTURE LIENS RESULTING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF ROBERT T. LAZIER AND DIANE J. LAZIER. FIRST AMERICAN TITLE INSURANCE COMPANY SHALL HAVE NO LIABILITY FOR ANY LIENS ARISING FROM WORK OR MATERIAL FURNISHED AT THE REQUEST OF TJAC ENTERPRISES, LLC, A COLORADO LIMITED LIABILITY COMPANY. NOTE: ITEM 5 OF THE GENERAL EXCEPTIONS WILL BE DELETED IF LAND TITLE, GUARANTEE COMPANY CONDUCTS THE CLOSING OF THE CONTEMPLATED TRANSACTION(S) AND RECORDS THE DOCUMENTS IN CONNECTION THEREWITH. NOTE: UPON PROOF OF PAYMENT OF 2011 TAXES, ITEM 6 OF THE GENERAL EXCEPTIONS WILL BF. AMENDED TO READ: TAXES AND ASSESSMENTS FOR THE YEAR 2012 AND SUBSEQUENT YEARS. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VC50032473 -5 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, 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 and not shown by the Public Records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Any and all unpaid taxes, assessments and unredeemed tax sales. 7. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof: (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. EXISTING LEASES AND TENANCIES, IF ANY. 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. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY Oh THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED JULY 11, 1899, IN BOOK 48 AT PAGE 475. 11. 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 AUGUST 10, 1962, IN BOOK 174 AT PAGE 179. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VC50032473 -5 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 12. EASEMENTS, ENCROACHMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED CONDOMINIUM MAP OF LAZIER - ARCADE CONDOMINIUM BUILDING RECORDED JANUARY 25, 1968 IN BOOK 212 AT PAGE 94 AND AMENDMENT THERETO RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918656, AMENDMENT RECORDED UNDER RECEPTION NO --------- - - - - -- - - - - - -- 13. 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 JANUARY 25, 1968, UNDER RECEPTION NO. 107451 AND AMENDMENT THERETO RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918655, AMENDMENT RECORDED UNDER RECEPTION NO, NOTE: SAID DECLARATION CONTAINS A RIGHT OF FIRST REFUSAL PROVISION DESCRIBED IN ARTICLE 36 OF SAID DECLARATION. 14. TERMS, CONDITIONS AND PROVISIONS OF BROADBAND EASEMENT AND RIGHT OF ENTRY AGREEMENT RECORDED APRIL 29, 1997 IN BOOK 725 AT PAGE 500, 15. TERMS, CONDITIONS, PROVISIONS, BURDENS, OBLIGATIONS AND EASEMENTS AS SET FORTH AND GRANTED IN AGREEMENT AND GRANT OF TEMPORARY EASEMENT REGARDING STREETSCAPE UITLITY AND SNOWMELT IMPROVEMENTS RECORDED JULY 26, 2005 UNDER RECEPTION NO. 923880. SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR THE LAZIER - ARCADE CONDOMINIUM BUILDING (a Condominium Community) THIS SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION (this " Second Amendment ") is made on the date set forth below by Robert T. Lazier and Diane J. Lazier ( "Declarant "). RECITALS A. Declarant, as the owner of certain real estate in the County of Eagle, State of Colorado, executed and recorded that certain Declaration for The Lazier - Arcade Condominium Building, a Condominium Community, in the records of the Clerk and Recorder of Eagle County, Colorado, which was amended by that certain Amended Condominium Declaration recorded August 25, 2009 (together, "the Amended Declaration. ") B. Contemporaneous to and in conjunction with the execution and recording of the Declaration, Declarant caused to be executed and recorded that certain Map of The Lazier - Arcade Condominium Building in the records of the Clerk and Recorder of Eagle County Colorado (the "Map ") identifying, among other things, the physical boundaries of Units and common elements in The Lazier- Arcade Condominium Building. C. Contemporaneous to and in conjunction with the execution and recording of the Amended Condominium Declaration, Declarant caused to be executed and recorded an Amended Map of The Lazier - Arcade Condominium Building in the records of the Clerk and Recorder of Eagle County Colorado at Reception Number 200918656 (the "First Amended Map ") identifying, among other things, the physical boundaries of Units and common elements in The Lazier - Arcade Condominium Building. D. Exhibit B of the Declaration sets forth the appurtenant undivided percentage interests in the general common elements allocated to each of the Units in The Lazier - Arcade Condominium Building (the "Allocated Interests "). E. The Amended Declaration provides for expansion, division, combination, reallocation and other reserved rights of the Declarant related to the Units and Common Elements. F. Pursuant to such authority, Declarant now desires to divide, combine, and otherwise alter two (2) Units, Unit 102 and Unit 103 and Common Elements on the first floor of The Lazier - Arcade Condominium Building as identified in Exhibit B to the Declaration and as shown on the First Amended Map. Declarant does not desire to alter any boundaries or reallocate any Allocated Interests on the first, second or third floors other than Units 102 and 103 located on the first floor of the Lazier - Arcade Condominium Building. G. Declarant has determined the physical boundaries of the Units and common elements of first floor of The Lazier - Arcade Condominium Building, as altered and reconfigured pursuant to Declarant's authority under the Amended Declaration, and has set forth the location and boundaries of the amended spaces on that certain Map of The Lazier - Arcade Condominium Building - Second Amendment (the "Second Amended Map "), prepared, executed and filed of record contemporaneously with this Amendment. H. Declarant has further determined and hereby establishes the altered and reconfigured physical boundaries of Units 102 and 103 on the first floor of The Lazier - Arcade Condominium Building as set forth in this Second Amendment and the Second Amended Map. I. Declarant has further determined and hereby establishes the amended Allocated Interests of Units 102 and 103 on the first floor (the "Amended Allocated Interests ") which interests are set forth in Exhibit B -2 to this Amendment. J. Declarant has the power and authority pursuant to state statutes and the Declaration, as amended to undertake and accomplish the alterations and reconfiguration of the Units, Common Elements and Allocated Interests as set forth in this Amendment and the Amended Map. K. This Amendment has been determined by the Declarant to be reasonable and not burdensome. NOW THEREFORE, Declarant declares as follows: Dedication of Property. Pursuant to the Amended Declaration and the First Amended Map and Second Amended Map, and as provided for in paragraph 2 below, the property described in Exhibit A (attached and incorporated by this reference) is subject to all of the terms and provisions of the Amended Declaration, the First Amended Map, and the Second Amended Map. 2. Second Amended Map. Pursuant to the Declaration, Declarant has prepared and recorded, in the records of the Office of the Clerk and Recorder of Eagle County, Colorado at Reception No. , the Second Amended Map for The Lazier - Arcade Condominium Building covering the property which is described in Exhibit A. 3. Division into Condominium Units. Declarant hereby alters and reestablishes Units 102 and 103 on the first floor in the Condominium Community, as a part of the "Entire Premises." The altered and reestablished Condominium Units affected by this Second Amendment are Unit 102 and Unit 103. There are no changes to Exhibit B -1 of the First Amended Declaration. 4. Number of Units /Allocated Interests. The total number of Units, ownership interests, Common Expense liabilities, and votes determining each Units Allocated Interests are reestablished and allocated as provided in the Declaration as supplemented, amended and corrected, all as set forth in Exhibit B -2 attached to this Amendment and incorporated by reference, replacing all such Allocated Interests of Units set forth in Exhibit B to the Declaration. Except for the changes between Units 102 and 103 on the first floor, the boundaries or Allocated Interests of the first, second and third floors are not altered or affected by this Second Amendment of the Declaration or the Second Amended Map. As Units are added to or withdrawn from the Community, pursuant to the provisions of the Declaration, as amended, and the Act, the formulas set forth in the Declaration shall be used to reallocate the Allocated Interests. The allocations set forth in Exhibit B -2 may be amended and/or supplemented from time to time by reserved right of the Declarant. The Declarant may also establish alternative forms of allocation, as it may determine, by amendment or supplement of the Declaration, and exercise other reserved rights, as allowed for in the Declaration and/or under the Act. The foregoing reserved development rights of the Declarant are reserved for the periods of time as set forth in the Declaration. 5. Limited Common Elements. Limited Common Element interests appurtenant to Units other than Unit 102 and 103 on the first floor Condominium Units as set forth in Exhibit C to the Declaration, have not been altered, eliminated, replaced or reallocated by those set forth in the Second Amended Map. 6. General Common Element Interests. A. Declarant or any successor to its interest in Unit 102, at its sole discretion and expense, may remove all nonstructural portions of that wall bisecting Unit 102 as shown on the Second Amended Map at any time after construction of the Replacement Dividing Wall between Unit 102 and Unit 103 as provided below. B Declarant or any successor to its interest in Unit 102, at its sole discretion and expense, may construct a wall dividing Unit 102 from Unit 103 in that portion of the Second Amended Map shaded and marked "Replacement Dividing Wall 102 /103." Any Common Element located in the bisecting wall shall be relocated to Replacement Dividing Wall at the expense of Declarant or its successor in interest in Unit 102. C. Any and all work related to the construction of the "Replacement Dividing Wall 102/103" shall be completed in compliance with all applicable statutes and ordinances. D. Upon completion of its construction, the Replacement Dividing Wall 102/103 shall become a General Common Element of the Condominium Building. 7. Definitions. Unless otherwise defined in this Amendment, initially capitalized terms or terms defined in the Declaration shall have the same meaning in this Second Amendment as provided for in the Declaration. 7. No Other Amendments. Except as amended by this Amended Declaration and the First Amended Map, and Second Amended Map, the original Declaration and Map remain in full force and effect. IN WITNESS WHEREOF, this Amendment is executed by the undersigned Declarant. Dated this day of February, 2012. DECLARANT AND OWNER Robert T. Lazier STATE OF Colorado ) ss. COUNTY OF Eagle ) The foregoing instrument was subscribed and sworn to before me this day of , 2012, by Robert T. Lazier. Notary Public My Commission Expires: Dated this day of February, 2012. DECLARANT AND OWNER Diane J. Lazier STATE OF Colorado ) SS. COUNTY OF Eagle ) The foregoing instrument was subscribed and sworn to before me this day of , 2012, by Diane J. Lazier. Notary Public My Commission Expires: EXHIBIT A DESCRIPTION OF REAL ESTATE THE LAZIER - ARCADE CONDOMINIUM BUILDING, ACCORDING TO THE MAP OF LAZIER ARCADE CONDOMINIUMS RECORDED JANUARY 25, 1968 AS RECEPTION NO. 107452 AND THE MAP OF LAZIER ARCADE CONDOMINIUMS - FIRST AMENDMENT RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918656 AND AS DEFINED IN THE CONDOMINIUM DECLARATION RECORDED JANUARY 25, 1968 AT RECEPTION NO. 107451 AND THE AMENDED CONDOMINIUM DECLARATION RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918655, COUNTY OF EAGLE, STATE OF COLORADO EXHIBIT B -1 THERE ARE NO CHANGES TO EXHIBIT B -1 FROM THE FIRST AMENDED CONDOMINIUM DECLARATION RECORDED AUGUST 25, 2009 AT RECEPTION NO. 200918655, COUNTY OF EAGLE, STATE OF COLORADO EXHIBIT B -2 ALLOCATED INTERESTS FOR ALL UNITS UNIT NUMBER Approximate Square Footage of Each Unit Percentage Interest in the Common Elements and Common Expenses for Each Unit Basement 1 875 6.2 First Floor 101 659 4.6 First Floor 102 1105 7.6 First Floor 103 1472 10.5 First Floor 104 566 4.0 Second Floor 200 581 4.1 Second Floor 202 37 0.2 Second Floor 204 7 0.1 Second Floor 205 420 3.0 Second Floor 206 7 0.1 Second Floor 210 229 1.6 Second Floor 220 237 1.7 Second Floor 225 240 1.7 Second Floor 230 265 1.8 Second Floor 235 194 1.4 Second Floor 240 317 2.2 Second Floor 245 276 1.9 Second Floor 250 400 2.8 Second Floor 255 293 2.0 Third Floor 301 4.8 Third Floor 302 4.2 Third Floor 303 4.8 Third Floor 304 4.8 Third Floor 305 4.8 Third Floor 306 4.8 Third Floor 307 4.8 Third Floor 308 4.8 Third Floor 309 4.7 TOTAL 28 100% JOINDER OF LIENOR The undersigned, beneficiary under the deed of trust dated June 19, 2008 recorded June 30, 2008 at Reception No.. 200813721 in the office of the Clerk and Recorder of Eagle County, Colorado (the "Deed of Trust "), as such Deed of Trust may be amended and supplemented from time to time, for itself and its successors and assigns, approves the foregoing SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR THE LAZIER - ARCADE CONDOMINIUM BUILDING affecting all or a portion of the Property encumbered by the Deed of Trust, and agrees that no foreclosure or other enforcement of any remedy pursuant to the Deed of Trust shall impair, invalidate, supersede or otherwise affect the covenants, conditions, restrictions and easements established by this SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR THE LAZIER - ARCADE CONDOMINIUM BUILDING. LENDER BANK OF THE WEST By: Name: Title: STATE OF COLORADO COUNTY OF EAGLE The foregoing 2012, by of ss. instrument was acknowledged before me this day of as WITNESS my hand and official seal. My commission expires: [SEAL] Notary Public JOINDER OF LIENOR The undersigned, beneficiary under the deed of trust dated June 25, 2008 recorded June 30, 2008 at Reception No. 200813722 in the office of the Clerk and Recorder of Eagle County, Colorado (the "Deed of Trust "), as such Deed of Trust may be amended and supplemented from time to time, for itself and its successors and assigns, approves the foregoing SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR THE LAZIER - ARCADE CONDOMINIUM BUILDING affecting all or a portion of the Property encumbered by the Deed of Trust, and agrees that no foreclosure or other enforcement of any remedy pursuant to the Deed of Trust shall impair, invalidate, supersede or otherwise affect the covenants, conditions, restrictions and easements established by this SECOND AMENDMENT AND SUPPLEMENTAL CONDOMINIUM DECLARATION FOR THE LAZIER - ARCADE CONDOMINIUM BUILDING. LENDER JAY K. PETERSON By: Name: Title: STATE OF COLORADO ) ) ss. COUNTY OF EAGLE ) The foregoing 2012, by of instrument was acknowledged before me this day of as WITNESS my hand and official seal. My commission expires: [SEAL] Notary Public AFTER RECORDING RETURN TO: Law Offices of Margaret E. Hanlon, PC 225 Wall Street, Suite 205 Vail, CO 81657