HomeMy WebLinkAboutADM130010 1
Department of Community Development
75 South Frontage Road
TOWN OF VAIL MAY 3 0 2013 Vail, CO 81657
Tel: 970-479-2128
www.vailgov.com
TOWN OF VAIL, Development Review Coordinator
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://wwvv.eaglecounty.us/Clerk/Recording/Record a Document/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 Request: Approval of amended condominium map of Tyrolean condominiums
Physical Address: 400 Vail Valley Drive,Vail,CO 81657
X 01 p 10
Parcel Number: 2101-082-52-0..(multiple parcels in condo association) (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.)
Property Owner: Tyrolean Condominium Association
Mailing Address: c/o Tom Saalfeld, Ptarmigan Management. 62 East Meadow Drive, Vail,CO 81657
Phone: 970-476-3328
Owner's Signature:
Primary Contact/Owner Representa ive: reg Perkins(attorney for Tyrolean Condominium Association)
Mailing Address: 710K Lionshead Cir., Suite, B, Vail, C081657
Phone: 970-306-7554
E-Mail: greg @gperkinslaw.com Fax: 866-393-9835
For Office Use Only: Cash_ CC: Visa/MC Last 4 CC# Auth# Check# I qq
Fee Paid: 1D\06,00 Received From: GizeanRy Pe1zVJNS t LC
Meeting Date: ADM No.: of O I U
Planner: Project No:
Zoning: Land Use:
Location of the Proposal: Lot: Block: Subdivision:
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TOWN OF VAIL, COLORADO Statement
********************************************************************************************
Statement Number: R130000707 Amount: $100.00 05/31/201308:47 AM
Payment Method: Check Init: DR
GREGORY PERKINS LLC Notation: CK# 144
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Permit No: ADM130010 Type: Administrative
Parcel No: 2101-082-5201-0
Site Address: 400 E MEADOW DR VAIL
Location:
Total Fees: $100.00
This Payment: $100.00 Total ALL Pmts: $100.00
Balance: $0.00
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ACCOUNT ITEM LIST:
Account Code Description Current Pmts
--------------- ------------------------------ ------------
PV 00100003112500 Administrative Fee 100.00
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Land Title Guarantee Company
CUSTOMER DISTRIBUTION
Land Title
GUARANTEE COMPANY
W;. GC.COM
Date: 05-28-2013 Our Order Number: V50036272
Property Address:
400 VAIL VALLEY DRIVE#7 VAIL, CO 81657
If you have any inquiries or require further assistance,please contact one of the numbers below:
For Title Assistance:
Vail Title Dept.
610 WEST LIONSHEAD CIRCLE#200
VAIL,CO 81657
Phone:970-477-4522
Fax: 970-476-4534
EMail: eaglecountyrequests@Itgc.com
GREGORY PERKINS LLC
710 W LIONSHEAD CIR#B
VAIL,CO 81657
Attn: ELIZABETH GROSS
Phone: 970-306-7554
Fax: 866-393-9835
EMail:elizabeth @gperkinslaw.com
Sent Via EMail
I
Land Title Guarantee Company
Date: 05-28-2013
Land True Our Order Number: V50036272
GUARANTEE COMPANY
WW.---c CO.
Property Address:
400 VAIL VALLEY DRIVE#7 VAIL, CO 81657
Buyer/Borrower:
A BUYER TO BE DETERMINED
Seller/Owner:
BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN
ISLANDS
Need a map or directions for your upcoming closing?Check out Land Title's web site at www.ltgc.com
for directions to any of our 54 office locations.
ESTIMATE OF TITLE FEES
TBD Commitment $100.00
If Land Title Guarantee Company will be closing this transaction, above fees will be collected at that time.
TOTAL $100.00
Form CONTACT 06/04 THANK YOU FOR YOUR ORDER!
PIN LAND TITLE GUARANTEE COMPANY
INVOICE NO. VA-6949
Land Title
GUARANTEE COMPANY
ww w.tt G C.C DM
GREGORY PERKINS LLC
710 W LIONSHEAD CIR#B
VAIL, CO 81657
Owner: BLACK STALLION HOLDINGS,INC.,A COMPANY INCORPORATED IN THE BRITISH VIRGIN
ISLANDS
Address: 400 VAIL VALLEY DRIVE#7 VAIL, CO 81657
Invoice Date: May 28, 2013
Order No. V50036272
Invoice Charges
TBD Commitment $100.00
Amount Due- $100.00
Due and payable upon receipt.
For Remittance please refer to Invoice No. VA-6949
Please make checks payable to:
Land Title Guarantee Company
5975 Greenwood Plaza Blvd. Suite 125
Greenwood Village, CO 80111-4701
First American Title Insurance Company
ALTA COMMITMENT
Our Order No. V50036272
Schedule A Cust. Ref.:
Property Address:
400 VAIL VALLEY DRIVE#7 VAIL, CO 81657
1. Effective Date: May 16, 2013 at 5:00 P.M.
2. Policy to be Issued, and Proposed Insured:
"TBD" Commitment $0.00
Proposed Insured:
A BUYER TO BE DETERMINED
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:
BLACK STALLION HOLDINGS, INC., A COMPANY INCORPORATED IN THE BRITISH VIRGIN
ISLANDS
5. The Land referred to in this Commitment is described as follows:
SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION
Our Order No: V50036272
LEGAL DESCRIPTION
PARCEL 1:
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 RESUBDIVISION 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.
ALTA COMMITMENT
Schedule B-Section 1
(Requirements) Our Order No. V50036272
The following are the requirements to be complied with:
Item(a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or
interest to be insured.
Item(b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record,
to-wit:
Item(c) Payment of all taxes,charges or assessments levied and assessed against the subject premises which are due
and payable.
Item(d)Additional requirements, if any disclosed below:
1. EVIDENCE SATISFACTORY TO THE COMPANY THAT THE TERMS, CONDITIONS AND
PROVISIONS OF THE TOWN OF VAIL TRANSFER TAX HAVE BEEN SATISFIED.
2. ORDER OF DISMISSAL ISSUED BY THE CLERK OF THE DISTRICT COURT IN AND FOR THE
COUNTY OF EAGLE OF CIVIL ACTION NO. 11 CV 1187 ENTITLED PIERCE ARCHITECTS,
INC. DBA PIERCE ARCHITECTS, PLAINTIFF(S), VS. BLACK STALLION HOLDINGS,
INC.,A COMPANY INCORPORATED IN THE BRITISH VIRGIN ISLANDS ETAL, DEFENDANT
(S). NOTICE OF LIS PENDENS RECORDED DECEMBER 29, 2011, UNDER RECEPTION NO.
201124207.
3. PROVIDE EVIDENCE SATISFACTORY TO LAND TITLE GUARANTEE COMPANY THAT BLACK
STALLION HOLDINGS, INC.,A COMPANY INCORPORATED IN THE BRITISH VIRGIN
ISLANDS IS A LEGAL ENTITY IN GOOD STANDING UNDER THE LAWS OF THE BRITISH
VIRGIN ISLANDS,A FOREIGN COUNTRY AND THAT UNDER THE LAWS OF SAID COUNTRY
AND/OR ITS CHARTER OF CERTIFICATE OF FORMATION, IT HAS THE POWER TO
ACQUIRE, HOLD TITLE TO, CONVEY OR ENCUMBER REAL PROPERTY IN THE UNITED
STATES. SAID EVIDENCE MUST BE WRITTEN DOCUMENTATION FROM AN ATTORNEY
LICENSED IN THE FOREIGN COUNTRY OR THE UNITED STATES AND MUST PROVIDE THE
NAME(S) OF ALL WHO CAN LEGALLY BIND THE ENTITY, THEIR CAPACITY AND
AUTHORIZATION TO EXECUTE LEGAL DOCUMENTS ON BEHALF OF SAID FOREIGN ENTITY.
NOTE:ANY DOCUMENTATION IN A FOREIGN LANGUAGE MUST BE ACCOMPANIED BY AN
OFFICIAL TRANSLATION.
4. DULY EXECUTED AND ACKNOWLEDGED STATEMENT OF AUTHORITY SETTING FORTH THE
NAME OF BLACK STALLION HOLDINGS, INC.,A COMPANY INCORPORATED IN THE
BRITISH VIRGIN ISLANDS AS A A BRITISH VIRGIN ISLANDS COMPANY. 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
ALTA COMMITMENT
Schedule B-Section 1
(Requirements) Our Order No. V50036272
Continued:
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 STATEMENT OF AUTHORITY MUST BE RECORDED WITH THE CLERK AND
RECORDER.
5. RELEASE OF DEED OF TRUST DATED APRIL 23, 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.
6. WARRANTY DEED FROM BLACK STALLION HOLDINGS, INC.,A COMPANY INCORPORATED IN
THE BRITISH VIRGIN ISLANDS TO A BUYER TO BE DETERMINED CONVEYING SUBJECT
PROPERTY.
NOTE:ADDITIONAL REQUIREMENTS OR EXCEPTIONS MAY BE NECESSARY WHEN THE
BUYERS NAMES ARE ADDED TO THIS COMMITMENT. COVERAGES AND/OR CHARGES
REFLECTED HEREIN, IF ANY, ARE SUBJECT TO CHANGE UPON RECEIPT OF THE
CONTRACT TO BUY AND SELL REAL ESTATE AND ANY AMENDMENTS THERETO.
t
ALTA COMMITMENT
Schedule B-Section 2
(Exceptions) Our Order No. V50036272
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.
a
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.
8. 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.
9. 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.
10. 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.
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
ALTA COMMITMENT
Schedule B-Section 2
(Exceptions) Our Order No. V50036272
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:
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.
12. 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 SEPTEMBER 04, 1975, IN BOOK 241 AT PAGE 629 AND AS
AMENDED IN INSTRUMENT RECORDED DECEMBER 28, 1979, IN BOOK 296 AT PAGE 518.
13. 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 AMENDED CONDOMINIUM MAP
RECORDED DECEMBER 31, 2009 UNDER RECEPTION NO. 200928002.
14. 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.
LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY- GRAND JUNCTION
DISCLOSURE STATEMENTS
Note: Pursuant to CRS 10-11-122, notice is hereby given that:
A) The subject real property may be located in a special taxinghdistrict.
B) A Certificate of Taxes IIDue listing each taxing jurisdiction Nall be obtained from the County
Treasurer or the Count Treasurers authorized agent.
C) The information regarding special districts and the boundaries of such districts may be obtained from
the Board of County Commissioners,the County Clerk and Recorder, or the County Assessor.
Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing
in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom
margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that
does not conform, except that,the requirement for the top margin shall not apply to documents using forms
on which space is provided for recording or filing information at the top margin of the document.
Note: Colorado Division of Insurance Regulation 3-5-1, Section 7L requires that "Every
title entity shall be responsible for all maters which appear of record prior to the time of recording
whenever the title entity conducts the closing and is responsible for recording or filing of legal
documents resulting from the transaction w ich was closed". Provided that Land Title Guarantee
Company conducts the closing of the insured transaction and is responsible for recordin&the
legal documents from the transaction, exception number 5 will not appear on the Owner s Title
Policy and the Lenders Policy when issued.
Note:Affirmative mechanic's lien protection for the Owner may be available (typically by deletion
of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner s Po icy to be
issued)upon compliance with the following conditions:
A)The land described in Schedule A of this commitment must be a single family residence which
includes a condominium or townhouse unit.
B) No labor or materials have been furnished by mechanics or material-men for purposes of
construction on the land described in Schedule A of this Commitment within the past 6 months.
C)The Company must receive an appropriate affidavit indemnifying the Company against un-filed
mechanics and material-men's liens.
D The Company must receive payment of the appropriate premium.
E�If there has been construction, improvements or mayor repairs undertaken on the property to be purchased
within six months prior to the Date of the Commitment, the requirements to obtain coverage
for unrecorded liens will include: disclosure of certain construction information; financial information
as to the seller,the builder and or the contractor- payment of the appropriate premium fully
executed Indemnity Agreements satisfactoryry to the company, and, any additional requirements
as may be necessary after an examination of the aforesaid information by the Company.
No coverage will be given under any circumstances for labor or material for which the insured
has contracted for or agreed to pay.
Note: Pursuant to CRS 10-11-123, notice is hereby given:
This notice applies to owner's policy commitments containing a mineral severance instrument
exception,or exceptions, in Schedule B, Section 2.
A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise
conveyed from the surface estate and that there is a substantial likelihood that a third party
holds some or all interest in oil,gas, other minerals, or geothermal energy in the property;and
B)That such mineral estate may inc ude the right to enter and use the property without the
surface owner's permission.
Note: Pursuant to CRS 10-1-128(6)(a) It is unlawful to knowingly provide false,incomplete, or misleading facts or
information to an insurance company for the purpose of defrau mg or attempting to defraud the company.
Penalties may include imprisonment, fines, denial or insurance, and civil
damages.Any insurance company or agent of an insurance company who knowingly
provides false, incomplete, or misleading facts or information to a policyholder
or claimant for the purpose of defrauding or attempting to defraud he policyholder
or claimant with regard to a settlement or award payable from insurance proceeds
shall be reported to the Colorado division of insurance within the department
of regulatory agencies.
Nothing herein contained will be deemed to obligate the company to provide any of the coverages
referred to herein unless the above conditions are fully satisfied.
DISCLOSURE 02/2011
First American Title Insurance Company
PRIVACY POLICY
We are Committed to Safeguarding Customer Information
In order to better serve your needs now and in the future, we may ask you to provide us with certain
information. We understand that you may be concerned about what we will do with such information-
particularly any personal or financial information. We agree that you have a right to know how we will utilize
the personal information you provide to us. Therefore,together with our parent company,the First American
Corporation, we have adopted this Privacy Policy to govern the use and handling of your personal information.
Applicability
This Privacy Policy governs our use of the information which you provide to us. It does not govern the manner
in which we may use information we have obtained from any other source, such as information obtained from a
public record or from another person or entity. First American has also adopted broader guidelines that govern
our use of personal information regardless of its source. First American calls these guidelines its Fair
Information Values, a copy of which can be found on our website at www.firstam.com.
Types of Information
Depending upon which of our services you are utilizing,the types of nonpublic personal information
that we may collect include:
* Information we receive from you on applications, forms and in other communications to us,
whether in writing, in person, by telephone or any other means;
• Information about your transactions with us, our affiliated companies, or others; and
•Information we receive from a consumer reporting agency.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any
nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1)as
necessary for us to provide the product or service you have requested to us; or (2)as permitted by law. We
may, however, store such information indefinitely, including the period after which any customer relationship
has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer
analysis.We may also provide all of the types of nonpublic personal information listed above to one or more of
our affiliated companies. Such affiliated companies include financial service providers, such as title insurers,
property and casualty insurers, and trust and investment advisory companies, or companies involved in real
estate services, such as appraisal companies, home warranty companies,and escrow companies.
Furthermore,we may also provide all the information we collect,as described above, to companies that
perform marketing services on our behalf, on behalf of our affiliated companies, or to other financial institutions
with whom we or our affiliated companies have joint marketing agreements.
Former Customers
Even if you are no longer our customer, our Privacy Policy will continue to apply to you.
Confidentiality and Security
We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We
restrict access to nonpublic personal information about you to those individuals and entities who need to know
that information to provide products or services to you.We will use our best efforts to train and oversee our
employees and agents to ensure that your information will be handled respnsibly and in accordance with this
Privacy Policy and First American's Fair Information values. We currently maintain physical, electronic, and
procedural safeguards that comply with referral regulations to guard your nonpublic personal information.
WEBSITE
Information on the calculation of premiums and other title related charges are listed at First American's
website: www.firstam.com
NOTICE OF PRIVACY POLICY OF
LAND TITLE GUARANTEE COMPANY, INC.,A COLORADO CORPORATION
AND
MERIDIAN LAND TITLE, L.L.C.,A COLORADO LIMITED LIABLITY COMPANY, D/B/A
LAND TITLE GUARANTEE COMPANY-GRAND JUNCTION
This Statement is provided to you as a customer of Land Title Guarantee Company, a Colorado corporation and
Meridian Land Title, LLC,d/b/a Land Title Guarantee Company-Grand Junction.
We want you to know that we recognize and respect your privacy expectations and the requirements of federal
and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your
trust and confidence is the bedrock of our business. We maintain and regularly review internal and external
safeguards against unauthorized access to non-public personal information ("Personal Information").
In the course of our business, we may collect Personal Information about you from:
* applications or other forms we receive from you, including communications sent through TMX, our
web-based transaction management system;
* your transactions with, or from the services being performed by, us, our affiliates, or others;
* a consumer reporting agency, if such information is provided to us in connection with your transaction;
and
* the public records maintained by governmental entities that we either obtain directly from those entities,
or from our affiliates and non-affiliates.
Our policies regarding the protection of the confidentiality and security of your Personal Information are as
follows:
* We restrict access to all Personal Information about you to those employees who need to know that
information in order to provide products and services to you.
We maintain physical, electronic and procedural safeguards that comply with federal standards to
protect your Personal Information from unauthorized access or intrusion.
* Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary
action.
* We regularly access security standards and procedures to protect against unauthorized access to Personal
Information.
WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR
ANY PURPOSE THAT IS NOT PERMITTED BY LAW.
Consistent with applicable privacy laws, there are some situations in which Personal Information may be
disclosed. We may disclose your Personal Information when you direct or give us permission;when we are
required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or
criminal activities.We also may disclose your Personal Information when otherwise permitted by applicable
privacy laws such as, for example,when disclosure is needed to enforce our rights arising out of any agreement,
transaction or relationship with you.
Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our
privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American
Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction thereof.
Form PRTV.P0L.LTG.1
Commitment for Title Insurance
ISSUED BY
First American Title Insurance Company
FIRST AMERICAN TITLE INSURANCE COMPANY,a California corporation("Company"),for a valuable consideration,commits to issue its policy or policies of title insurance,as
identified in Schedule A,in favor of the Proposed Insured names in Schedule A,as owner or mortgage of the estate or interest in the land described or referred to in Schedule A,
upon payment of the premiums and charges and compliance with the Requirements,all subject to the provisions of Schedules A and B and to the Conditions of this Commitment.
This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A
by the Company.
All liability and obligation under this Commitment shall cease and terminate six(6)months after the Effective Date or when the policy or policies committed for shall issue,
whichever first occurs,provided that the failure to issue the policy or policies is not the fault of the Company.
The Company will provide a sample of the policy form upon request.
This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory.
IN WITNESS WHEREOF,First American Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A.
CONDITIONS
1.The term mortgage,when used herein,shall include deed of trust,trust deed,or other security instrument.
2.If the proposed Insured has or acquired actual knowledge of any defect,lien,encumbrance,adverse claim or other matter affecting the estate or interest or mortgage thereon
covered by this Commitment other than those shown in Schedule B hereof,and shall fail to disclose such knowledge to the Company in writing,the Company shall be relieved
from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge.If the proposed
Insured shall disclose such knowledge to the Company,or if the Company otherwise acquires actual knowledge of any such defect,lien encumbrance,adverse claim or other
matter,the Company at its option may amend Schedule B of this Commitment accordingly,but such amendment shall not relieve the Company from liability previously incurred
pursuant to paragraph 3 of these Conditions and Stipulations.
3.Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of the Insured in the form of policy or
policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith(a)to comply with the requirements hereof,or(b)to eliminate exceptions
shown in Schedule B,or(c)to acquire or create the estate or interest or mortgage thereon covered by this Commitment.In no event shall such liability exceed the amount
stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and Stipulations and the Exclusions
from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this
Commitment except as expressly modified herein.
4.This Commitment is a contract to issued one or more title insurance policies and is not an abstract of title or a report of the condition of title.Any action or actions or
rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of
the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.
5.The policy to be issued contains an arbitration clause.All arbitrable matters when the Amount of Insurance is$2,000,000 or less shall be arbitrated at the option of either
the Company or the Insured as the exclusive remedy of the parties.You may review a copy of the arbitration rules as www.alta.org
FIRST AMERICAN TITLE INSURANCE COMPANY
Issued by:
LAND TITLE GUARANTEE COMPANY
3033 EAST FIRST AVENUE
SUITE 600 �+
PO BOX 5440 (80217) - -
DENVER, CO 80217 EMBER 2
Dennis J.Gilmore
President
r'
AMFRICAN
LAND TITLE
A zed Off or Agent ASSOCIATION
Timathy Kemp
CC.FA.06 SecretSry
i
AMENDED AND RESTATED
DECLARATION
FOR
TYROLEAN CONDOMINIUMS
ADDRESS OF THE ASSOCIATION:c%:
Ptarmigan Management
62 East Meadow Drive
Vail, Colorado 81657
Attn: Tom Saalfeld
Note that this address may be changed from time to time pursuant to Section 6.2 and Section 16.3
below.
AMENDED AND RESTATED
DECLARATION
FOR
TYROLEAN CONDOMINIUMS
THIS AMENDED AND RESTATED DECLARATION is dated April 2,2013 and shall be
effective the date this instrument is recorded.
RECITALS:
A. That certain,"Condominium Declaration for Tyrolean Condominiums,"was recorded on
February 27, 1981 at Reception No.215509 in the office of the Eagle County Clerk and Recorder, State
of Colorado.This instrument was thereafter amended by: (i)the"First Amendment to Condominium
Declaration for Tyrolean Condominiums"recorded on May 23,2005 at Reception No. 916607;and(ii)
the"Second Amendment to Condominium Declaration for Tyrolean Condominiums,"recorded on
December 31,2009 at Reception No.200927947. As so amended,this instrument is referred to as the
"Original Declaration."
B. The Original Declaration imposed upon the real property described in the Original
Declaration,certain terms,provisions,covenants,conditions,restrictions,easements,reservations,uses,
limitations and obligations,which run with and are binding upon said real property. Said property is more
particularly described on Exhibit A,attached hereto and incorporated herein by this reference(the"Real
Estate").
C. As the condominium community(the"Community")was created prior to July 1, 1992, it
is subject to some,but not all,of the provisions of the Colorado Common Interest Ownership Act,C.R.S.
§ 38-33.3-101 et seq.(the"Act").The Community expressly elects to not subject the Community to all of
the provisions contained in the Act.
D. Tyrolean Condominium Association(the"Association")has been incorporated under the
laws of the State of Colorado,as an owners association.
E. The Owners desire to amend and restate all provisions of the Original Declaration by
virtue of this Amended and Restated Declaration (the "Declaration"),and intend upon the recording of
this Declaration,that the Original Declaration shall be superseded entirely by this Declaration, subject
only to those easements of record as of April 2, 1997 and the lien for real property taxes.
F. Written approval of this Amended and Restated Declaration from 100%of the owners
and all holders of first mortgages has been obtained in accordance with the Original Declaration and
C.R.S. § 38-33.3-217,as is evidenced by the acknowledgment attached to this Amended and Restated
Declaration.
NOW THEREFORE,the Original Declaration is amended and restated as follows:
ARTICLE 1 DEFINED TERMS
Each capitalized term in this Declaration shall have the meaning specified or used in the Act,
unless otherwise defined in this Declaration. In case of a conflict between a definition in this Declaration
and the Act,the definition in this Declaration shall control.
Section 1.1 Allocated Interest. Collective reference to the Undivided Interest in the Common
Elements, the Common Expense Liability, and the voting interest appurtenant to a Residential Unit as set
forth on Exhibit B, subject to reallocation pursuant to Section 12.12.8 below. The "Total Voting
Interests"within the Community is also shown on Exhibit B.
Section 1.2 Articles. The [Amended and Restated] Articles of Incorporation of the
Association,as the same may be amended from time to time.
Section 1.3 Association. Tyrolean Condominium Association, a Colorado non-profit
corporation, its successors and assigns.
Section 1.4 Board of Directors; Board. The governing body of the Association, referred to in
the Act as the"Executive Board."
Section 1.5 Buildings. The two structures within which Residential Units and Common
Elements are located(singularly,a"Building"). The structure containing Residential Units No. 1 through
8, inclusive, is hereby identified as "Building A", and the structure containing Residential Unit 9 is
hereby identified as"Building B".
Section 1.6 Bylaws. The Amended and Restated Bylaws of the Association, as the same may
be amended and restated from time to time.
Section 1.7 Common Elements. All portions of this Community excluding Residential Units
and Parking Space Units. The term "Common Elements" includes Building A Common Elements,
Building B Common Elements, Shared Common Elements and Limited Common Elements, unless the
context requires otherwise.
1.7.1 Building A Common Elements. The Common Elements that are for the exclusive
use and benefit of Building A and more particularly described in Subsection 3.5.1 below.
1.7.2 Building B Common Elements. The Common Elements that are for the exclusive
use and benefit of Building B and are more particularly described in Subsection 3.5.2 below.
1.7.3 Shared Common Elements. Common Elements which all Owners have an
undivided interest in, as more particularly described in Subsection 3.5.3 below. Shared Common
Elements are referred to as"G.C.E."on the Map.
Section 1.8 Common Expense Assessment; Assessment. In addition to the definition
included in the Act,these terms shall include the following items levied against a particular Owner and/or
the Residential Unit and/or the Parking Space Unit: (i) the Owner's Allocated Interest in the Common
Expenses (i.e., the "Common Expense Liability")subject to reapportionment pursuant to Section 7.3; (ii)
late charges,attorneys'fees, fines,and interest charged by the Association at the rate as determined by the
Board; (iii) Special Assessments levied pursuant to Section 7.6; (iv) Special Unit Assessments levied
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pursuant to Section 7.7; (v) Parking Fees; and (vi) any sums permitted by the Governing Documents or
the Act to be assessed against a particular Owner or Unit.
Section 1.9 Common Expenses. As used in this Declaration, this term includes all charges
levied by and for the benefit of the Association or individual Owners pursuant to the Governing
Documents, including, but not limited to: (i) annual costs and expenses of the Association; (ii) expenses
in the maintenance of Shared Common Elements, Building A Common Expenses and Building B
Common Expenses allocated as provided on Exhibit B; (iii) expenses for which a Special Assessment is
levied as provided in Section 7.6 below; (iv) amounts necessary to fund reserves pursuant to Section 7.8
below; (v) expenses for which a Parking Area Assessment is levied as provided in Sections 7.1 and 7.4
below;and(vi)amounts levied for expenditures incurred pursuant to the Governing Documents.
Section 1.10 Community. The Real Estate shown on Exhibit A, including all structures and
improvements erected thereon, and such additions as may hereafter be brought within the jurisdiction of
the Association. The name of the Community is"Tyrolean Condominiums."
Section 1.11 Covenants.Collective term for all promises, restrictions, reservations,conditions,
terms, easements, and rights-of-way specifically set forth in this Declaration or in any one of the
Governing Documents as the same may be adopted or amended from time to time.
Section 1.12 Declaration. This instrument together with the Map, as each may be amended
from time to time.
Section 1.13 First Mortgage. A mortgage, deed of trust, deed to secure a debt, or any other
form of security instrument affecting title to a Residential Unit (collectively, "Mortgage") which is
subject only to governmental liens, the lien for real property taxes, a portion of the Common Expense
Assessment, and other liens made superior by Colorado law. The holders, insurers, and guarantors of a
First Mortgage are collectively referred to as"First Mortgagees."
Section 1.14 Governing Documents. Collective reference to those documents that govern the
operation of the Association, including: (i)the Articles; (ii)the Bylaws; (iii)the Rules; (iv)the Map; (v)
all policies and procedures adopted by the Board; and (vi) this Declaration, as one or more of the same
may be amended from time to time.
Section 1.15 Limited Common Elements. Those Common Elements designed or designated
for exclusive use by the Owner of a particular Residential Unit or which are limited to and reserved for
the common use of one or more but fewer than all the Owners within a Building, all as more particularly
described in Section 3.6 below.
Section 1.16 Maintain; Maintenance (and all forms of this word). Collective reference to any
and all of the following: construction, maintenance, repair, painting, repainting, refurbishment,
replacement, reconstruction, demolition, removal, enhancement and improvement, unless the context
requires otherwise.
Section 1.17 Map. The Condominium Map for Tyrolean Condominiums recorded in the real
property records of Eagle County on February 27, 1981 in Book 319 at Page 138, as amended by the
Amended Condominium Map Tyrolean Condominiums recorded June 19, 2006 at Reception No.
200616161 and the second Amended Condominium Map Tyrolean Condominiums recorded on
December 31, 2009 at Reception Number 200928002, and the third Amended Condominium Map
Tyrolean Condominiums recorded ,2013 at Reception No.
3
Section 1.18 Owner. The record owner,whether one or more persons or entities,of fee simple
title to any Unit.
Section 1.19 Parking Area. The underground parking facility as shown on the Map, including
the general common element ramp, gate and security mechanism, driveway and other improvements
located in the underground parking facility, the general common element parking spaces, the limited
common element parking spaces,and the Parking Space Units.
Section 1.20 Parking Fee. The flat fee charged to each Parking Residential Unit in lieu of an
obligation to pay Common Expense Assessments as provided in Section 7.1.2 of this Declaration. A
Parking Space Unit may be subject to Special Assessments as provided in Section 7.4, and to Special Unit
Assessments as provided in Section 7.5.
Section 1.21 Parking Space Unit. A condominium located in the lower level (underground)of
Building A, as shown on the Map with the prefix "PSU". A Parking Space Unit shall be used solely for
the parking of vehicles in accordance with the Governing Documents. Any other parking areas that are
located within the Parking Area but are not designated as Parking Space Units are Shared Common
Elements. Like Residential Units, the use of Parking Space Units is subject in all respects to the
Covenants, except for the payment of Common Expense Assessments as provided herein. Parking Space
Units are owned by Owners. Parking Space Unit Owners shall have no voting rights with respect to any
Parking Space Unit.
Section 1.22 Record; Recorded. Filed for record in the real estate records of the Clerk and
Recorder of Eagle County, State of Colorado.
Section 1.23 Related User. Any person who: (i)resides with an Owner within the Residential
Unit; (ii) is a guest or invitee of an Owner; or(iii) is an occupant, tenant or contract purchaser of a Unit;
and (iv) any family member, guest, invitee or cohabitant of any person described in clauses (i), (ii), and
(iii)above.
Section 1.24 Residential Unit. The fee simple interest in a residential unit, as shown by each
such Residential Unit's identifying number or letter on the Map, together with the Allocated Interests
shown on Exhibit B, and any Limited Common Elements that may be appurtenant to such Residential
Unit as shown on the Map or as defined in Section 3.6 below. The terms "Residential Unit" or
"Residential Units"shall not include"Parking Space Units",unless the context requires otherwise.
Section 1.25 Rules. All rules, regulations and guidelines of the Association, as the same may
be adopted and amended from time to time by the Board pursuant to the Act, this Declaration and the
Bylaws.
Section 1.26 Unit. The term "Unit" shall mean either a Residential Unit or a Parking Space
Unit, as the case may be,and the term"Units"shall mean all Residential Units and Parking Space Units.
ARTICLE 2 GENERAL STATEMENT OF COVENANTS
Section 2.1 Covenants Bind the Real Estate. The Real Estate has been and shall continue to
be held, sold, and conveyed subject to the Covenants for the purpose of protecting the value and
desirability of the Real Estate and any other purposes incidental thereto. All Covenants shall continue to
run with the Real Estate,shall be binding on all parties having any right,title or interest in the Real Estate
or any part thereof,their heirs, legal representatives, successors, and assigns and shall inure to the benefit
of and be binding upon each Owner thereof and the Association.All Units are subject to the Covenants.
4
Section 2.2 Inseparability. Each Unit, as well as other appurtenances, rights and burdens
connected therewith, shall be inseparable and may be transferred, conveyed, leased, devised, encumbered
or otherwise disposed of only as a Unit. Every conveyance, transfer, devise, lease, encumbrance or other
disposition of a Unit shall be deemed to be a conveyance, transfer, devise, lease, encumbrance or other
disposition, as the case may be, of the entire Unit, together with all appurtenant rights, interests, duties
and obligations,created by the Act or other law,or the Governing Documents.
Section 2.3 No Partition. The Shared Common Elements shall be owned in common by all of
the Owners and shall remain undivided, except as otherwise provided in applicable provisions of the Act
or the Governing Documents. By acceptance of a deed or other instrument of conveyance of a Unit, each
Owner specifically waives his right to institute and/or maintain a partition action or any other action
designed to cause a division of the Common Elements. Furthermore, each Owner agrees that the
Association will recover all attorneys' fees and costs and all damages incurred by it in defending an
action brought by an Owner in violation of this Section 2.3.
ARTICLE 3 DESCRIPTION OF THE CONDOMINIUM
Section 3.1 Number of Units. There are 9 Residential Units and 4 Parking Space Units in the
Community.
Section 3.2 Allocated Interests. The Allocated Interest in the Association allocated to each
Residential Unit and to all Parking Space Units collectively is shown on Exhibit B attached hereto and
incorporated herein.
Section 3.3 Title to Units/Identification. Every contract, deed, lease,mortgage, deed of trust,
will and every other instrument affecting title to a Unit may legally describe that Unit by reference to this
Declaration and the one or more of the recorded Maps and by the designated number or letter shown on
the Map. Any such description shall be good and sufficient for all purposes to sell, convey, transfer,
encumber,or otherwise affect not only the Unit,but also the Common Elements and the right to the use of
the Limited Common Elements that are appurtenant to such Unit. Parking Space Units are specifically
designated on the Map as"PSU"and the number(e.g., PSU 2 is the unit identification for Parking Space
Unit 2).
Section 3.4 Unit Boundaries. The boundaries of each Residential Unit and each Parking
Space Unit are shown on the Map. When interpreting deeds,plats, and plans, Residential Unit boundaries
shall be the then existing physical boundaries of a Residential Unit (whether in its original state or
reconstructed in substantial accordance with the original plans thereof) and such boundaries shall be
conclusively presumed the correct boundaries of a given Residential Unit rather than the boundaries
expressed in the deed or plan, without regard to settling or lateral movement of the Building within which
the Residential Unit is located and without regard to minor variance between boundaries shown on the
plan or deed, and those of the Building. The boundaries of each Residential Unit shall include that part of
the Building containing the Residential Unit that lies within the boundaries of the Residential Unit. Each
Residential Unit's boundaries consist of the interior unfinished surfaces of the walls, ceilings, floors,
windows, and walls, including all electrical outlets, lathe, furring, wallboard, plasterboard, plaster,
paneling, tiles, wallpaper, paint, finish flooring, and any other material constituting any part of the
finished surfaces within a Residential Unit. All other portions of the walls, floors, or ceilings, are part of
the Common Elements. All spaces of the Residential Unit and all water and sewer lines, all plumbing
fixtures (including toilet flanges, drains) and other fixtures and improvements within the boundaries of
the Residential Unit are part of the Residential Unit. Additionally, pursuant to Section 8.1 below, Owners
are responsible for the maintenance of all items considered part of the Residential Unit as well as the
repair and replacement of any damage caused by water and sewer lines originating in such Owner's
5
Residential Unit. When interpreting deeds, plats, and plans, Parking Space Unit boundaries shall be the
then existing physical boundaries of a Parking Space Unit(whether in its original state or reconstructed in
substantial accordance with the original plans thereof) and such boundaries shall be conclusively
presumed the correct boundaries of a given Parking Space Unit rather than the boundaries expressed in
the deed or plan, without regard to settling or lateral movement of the Building within which the Parking
Space Unit is located and without regard to minor variance between boundaries shown on the plan or
deed, and those of the Building. The side boundaries of the Parking Space Units shall be the vertical
planes extending from the painted parking space lines on the floor of the Parking Area to the unfinished
ceiling of the Parking Area. The floor and ceiling shall be the lower and upper boundaries of the Parking
Space Units. Pursuant to Section 8.2 below, the Association is responsible for the maintenance of all
Parking Space Units.
Section 3.5 Common Elements. The following are Common Elements:
3.5.1 Building A Common Elements:
(a) exterior surfaces of Building A;
(b) foundations, columns, girders, beams, supports, perimeter and
supporting walls, roofs, gutters, downspouts, halls, corridors, lobbies, stairs, stairways, decks,
entrances and exits of Building A;
(c) basement and storage spaces located in Building A;
(d) installations, equipment and materials making up the central Building A
services, such as electricity, gas, hot and cold water, heating, refrigeration, ventilation and air
conditioning;
(e) tanks, pumps, motors, fans, compressors, ducts, and in general all
apparatus and installations existing for the benefit of Building A;
(f) easements of support in every portion of a Unit which contributes to the
structural support of Building A;and
(g) all other parts of Building A, which are not part of a Unit which is
intended to include all areas for common usage in Building A.
3.5.2 Building B Common Elements:
(a) exterior surfaces of Building B;
(b) foundations,columns,girders,beams, supports,perimeter and supporting
walls, roofs, gutters, downspouts, decks, halls, corridors, lobbies, stairs, stairways, entrances
and exits of Building B;
(c) basement and storage spaces located in Building B;
(d) installations, equipment and materials making up the central Building B
services,such.as electricity,gas,hot and cold water,heating,ventilation,and air conditioning;
6
(e) tanks, pumps, motors, fans, compressors, ducts, and in general all
apparatus and installations existing for the benefit of Building B;
(f) easements of support in every portion of a Residential Unit which
contributes to the structural support of Building B; and
(g) all other parts of Building B, which are not part of a Residential Unit or
of a Parking Space Unit which intended to include all common areas in Building B.
3.5.3 Shared Common Elements.
(a) the real estate described on Exhibit A;
(b) the landscaping (including the irrigation equipment), driveways and any
sidewalks;
(c) the area shown on the Map as the parking garage (excluding only
Parking Space Units,but specifically including Parking Spaces);
(d) any Common Element which is not exclusive to either Building A or
Building B (including, but not limited to, all Common Elements which are common to both
Buildings);and
(e) Easements through Unit boundary walls, ceilings and floors, for
conduits, ducts, plumbing, wiring and other facilities for the furnishing of utilities and other
services to Units and the Common Elements.
Section 3.6 Limited Common Elements Allocated to Residential Units. Each Owner (or
Owners, as the case may be) of Residential Units to which Limited Common Elements have been
allocated or to which such Limited Common Element is appurtenant, holds no ownership rights in such
Limited Common Element. The allocation of a Limited Common Element to one or more Residential
Units permits the Owners of such Residential Unit or Residential Units to possess such Limited Common
Element to the exclusion of others. However, maintenance, use, occupancy, and possession of Limited
Common Elements shall be done in accordance with the Governing Documents. The following constitute
Limited Common Elements:
3.6.1 Such utility installations, pipes,ducts, wiring,conduits and flues located within a
Residential Unit or adjoining Residential Units and serving such Residential Unit or Residential Units,
such portions of the perimeter walls, floors and ceiling, doors, windows and entryways and all associated
fixtures and structures intended to be physically located within the Residential Unit or Residential Units,
as may lie outside the Residential Unit boundaries.
3.6.2 Except Building A Common Elements and Building B Common Elements, any
portions of the Real Estate which are designated, located or shown on the Map by legend, symbol or
word, as appurtenant to one or more, but less than all Residential Units, which are used in connection
with such Residential Unit or Residential Units to the exclusion of the use by other Owners of Residential
Units,except by invitation.
3.6.3 Any deck or patio that is accessible from, associated with and which physically
adjoins a Residential Unit.
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ARTICLE 4 EASEMENTS
Section 4.1 Encroachment Easement. In the event any portion of the Common Elements,
including Limited Common Elements, encroaches upon any Unit or any Unit encroaches upon the
Common Elements, including Limited Common Elements,or another Unit as a result of the construction,
reconstruction, repair, shifting, settlement or movement of any portion of the improvements, a valid
easement for the encroachment and for the maintenance of the same shall exist so long as the
encroachment exists.
There shall be easements for the maintenance of said encroachments as long as they shall exist,
and the rights and obligations of Owners shall not be altered in any way by said encroachments,
settlement,or shifting, provided,however,that in no event shall an easement relieve an Owner of liability
in case of negligence or willful misconduct of such Owner. In the event any portion of a structure on the
Community is partially or totally destroyed and then repaired or rebuilt, each Owner agrees that minor
encroachments over adjoining Units or Common Elements shall be easements for the maintenance of said
encroachments so long as they shall exist.
Section 4.2 Recorded Easements. The Community is subject to all easements as shown on
any survey plat or the Map, those provided in the Act(including easements for encroachment set forth in
the Act and an easement for maintenance of any such encroachment), and otherwise as set forth in this
Declaration.
Section 4.3 Utility Easements.There is hereby created a blanket easement upon,across,over,
in, under and through the Community for the benefit of the Common Elements and the Units and the
structures and improvements situated on the Community for ingress and egress, and for the installation
and maintenance of utilities(herein "Utilities"), including, but not limited to water, sewer, gas,telephone,
electricity, heating, ventilating, air conditioning, computer, internet, and master television antenna, or
cable or satellite television systems, if any. Said blanket easement includes future utility services not
presently available to the Units which may be available in the future. By virtue of this blanket easement, it
shall be expressly permissible to erect and maintain the facilities, equipment and appurtenances on the
Common Elements necessary to operate and maintain the Utilities. Further, the Association may grant
easements over the Common Elements for the installation, operation and maintenance of any Utilities
necessary or desirable for the Community, without the need for any further approval from the Owners or
any First Mortgagee. The easements provided for in this Section 4.3 shall not affect, avoid, extinguish or
modify any other Recorded easement(s) affecting the Common Elements, nor shall these easements
unreasonably interfere with the use and enjoyment of any Unit by the Owner thereof.
Section 4.4 Reservation of Easements Exceptions and Exclusions. The Association is hereby
granted the right to establish from time to time, utility and other easements, permits or licenses over the
Common Elements for the best interest of all the Owners and the Association. Each Owner is hereby
granted a perpetual nonexclusive right of ingress to and egress from the Owner's Unit over and across the
Common Elements and Limited Common Elements appurtenant to that Owner's Unit,which right shall be
appurtenant to the Owner's Unit, and which right shall be subject to limited and reasonable restriction on
the use of Common Elements set forth in writing by the Association,such as for closure for maintenance.
Section 4.5 Emergency Access Easement.A non-exclusive easement for ingress and egress is
hereby granted to all police, sheriff, fire protection, ambulance and other similar emergency agencies or
persons and to any security personnel now or hereafter servicing the Community (without implying any
obligation on the part of the Association to provide for security), to enter upon all driveways and
Common Elements located in the Community in the performance of their duties.
8
Section 4.6 Owners' Easements of Enjoyment. Every Owner shall have a right and easement
of enjoyment in and to the Common Elements,subject to the following:
4.6.1 The Governing Documents and the Covenants;
4.6.2 The right of the Association to exercise all powers and duties pursuant to the
Governing Documents,the Act and any other applicable law;
4.6.3 The right of the Board to adopt and amend, from time to time, Rules concerning
all or any portion of the Real Estate and Owners and Related Users as the Board may determine are
necessary or prudent;
4.6.4 The right of the Association to enter into and execute contracts with any party for
the purpose of providing management, maintenance or other materials and services to the Association and
the Owners consistent with the purposes of the Association,this Declaration and the Act;
4.6.5 The right of the Association to grant permits, licenses and easements over the
Common Elements for utilities, public rights of way and other purposes deemed appropriate by the
Board;
4.6.6 The right of the Association to dedicate or transfer a part of the Common
Elements to the Town of Vail or other appropriate governmental entity;
4.6.7 The right of the Association to mortgage, pledge,or hypothecate any or all of the
Common Elements as security for money borrowed or debts incurred,(specifically including pledging the
Association's income as security for repayment of a debt);and
4.6.8 The right of the Association to close or limit the use of the Common Elements
for maintenance.
Section 4.7 Delegation of Use. Any Owner may delegate his right of enjoyment of the
Common Elements to Related Users. An Owner who does not occupy such Owner's Unit but permits
occupancy of the Unit by a Related User pursuant to a lease entered into in accordance with this
Declaration shall be deemed to have delegated his rights to use the Common Elements to such Related
User.
ARTICLE 5 MEMBERSHIP AND VOTING RIGHTS IN ASSOCIATION
Section 5.1 Membership. Every Owner shall be a member of the Association. Membership
shall be appurtenant to and may not be separated from ownership of any Unit. Each Owner is obligated to
comply with the Governing Documents. Membership in the Association shall not be transferred,pledged
or alienated in any way, except upon the sale of the Unit to which it is appurtenant, and then only to the
purchaser of such Unit.Any attempt to make a prohibited transfer is void.
Section 5.2 Voting. Subject to the Governing Documents, each Owner of a Residential Unit
shall be entitled to vote on all matters that are subject to a vote by the Owners in an amount equal to such
Owner's Allocated Interest in the Common Elements. The voting interest allocated to each Residential
Unit shall be cast in accordance with the Bylaws. Parking Space Units shall have no voting interest in the
Association; Parking Space Units are allocated an undivided interest in the Common Elements solely to
comply with legal requirements to constitute a separate condominium unit.
9
ARTICLE 6 THE ASSOCIATION
Section 6.1 General Purposes and Powers. The Association, acting in all instances through its
Board of Directors unless otherwise required by the Act or this Declaration, and specifically in
accordance with the Bylaws, shall perform such functions and manage and operate the Community and
the Real Estate as provided in this Declaration. The Association shall have all power necessary or
desirable to effectuate such purposes and shall act pursuant to the Governing Documents. All Owners
shall be deemed to have assented to, ratified and approved such designation of rights, duties, and
authority.
Section 6.2 Address of the Association. The current address of the Association is set forth on
the cover page of this Declaration and may be changed in accordance with Section 14.1 below or at any
time by Recording any written supplemental information to declaration for the purpose of providing
notice of the Association's address.
Section 6.3 Powers; Duties. The Association, acting in all instances by and through the
Board,shall have the following specific powers and duties:
6.3.1 The Association shall have all of the powers, authority and duties permitted
pursuant to the Act and the Colorado Revised Nonprofit Corporation Act,C.R.S. 7-121-101 et seq.
6.3.2 The Association shall have all of the powers, authority and duties necessary and
proper to manage the business affairs of the Community.
6.3.3 The Association shall have all of the powers, authority and duties necessary and
proper to own, operate, manage, lease, encumber, maintain, and otherwise deal with the Common
Elements, including the right to acquire additional Common Elements and to make improvements
thereon. Such additional Common Elements may be held in the Association's name as attorney-in-fact for
the Owners pursuant to Article 13 below.
6.3.4 The Association shall have the irrevocable right to have access to each Unit from
time to time during reasonable hours to the extent deemed necessary for the maintenance of any Common
Elements, or at any time and by force, if necessary, to prevent damage to any real or personal property
within the Community.
6.3.5 The Association may undertake any activity, function or service for the benefit or
to further the interests of the Owners.
6.3.6 The Association shall have the absolute right to engage a community association
manager as more particularly provided in the Bylaws.
6.3.7 The Association may assign to its right to receive any future income, including
its rights to receive Common Expense Assessments, as security for repayment of debt of the Association
or otherwise.
6.3.8 In furtherance of its rule-making authority, the Association shall have complete
authority and control to issue and amend restrictions on use and occupancy of the Residential Units,
Parking Space Units and Common Elements in addition to those contained in this Declaration.
6.3.9 The Association shall establish and enforce Rules as it deems necessary to ensure
the proper use,development and maintenance of all real and personal property within the Community.
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6.3.10 The Association shall have the right to lease, license or assign, any parking space
upon such terms and conditions as the Association shall determine.
Section 6.4 Enforcement. The Association shall have the power to enforce provisions in its
Governing Documents and shall take such action as the Board deems desirable to cause such compliance
by each Owner and each Related User,by any of the following means:
6.4.1 By entry upon any Unit after notice and an opportunity to be heard(unless a bona
fide emergency exists), without liability to the Owner thereof, for the purpose of enforcement or causing
compliance including by curing said violation;
6.4.2 By commencing and pursuing actions and suits: (i)to recover damages; or(ii)to
restrain and enjoin any violation or threatened violation of, or compel compliance with,provisions of the
Governing Documents by mandatory injunction or otherwise;
6.4.3 By suspension of the voting rights of an Owner for up to thirty (30) days
following any violation of a provision of the Governing Documents, or so long as the violation continues,
whichever is longer;and
6.4.4 By levying and collecting, after notice and an opportunity to be heard, fines
against any Owner for violation by such Owner or a Related User, as a Common Expense Assessment to
be secured by a continuing lien,from the date it is levied,and by foreclosure of such lien.
Section 6.5 Mechanic's Liens. No labor performed or materials furnished for use in
connection with any Unit with the consent or at the request of the Owner thereof or his agent, contractor
or subcontractor, shall create any right to file a statement of mechanic's lien against either the Unit of any
other Owner not expressly consenting to or requesting such labor or materials or against any interest in
the Common Elements, except the undivided interest therein appurtenant to the Unit of the Owner for
whom such labor shall have been performed and such materials shall have been furnished. Each Owner
shall indemnify and hold harmless each of the other Owners from and against liability or loss arising from
the claim of any lien against any Unit, or any part thereof, of any Owner for labor performed or for
materials furnished for work on the first Owner's Unit. At the written request of any Owner, the
Association shall enforce such indemnity by collecting from the Owner of the Unit on which the labor
was performed or materials furnished the amount necessary to discharge any such lien, including all costs
incidental thereto, including attorney's fees. If not promptly paid,the Association may collect the same in
the manner provided herein for collection of Assessments.
Section 6.6 Indemnification. To the full extent permitted by law and as provided in the
Bylaws, each officer, committee member and member of the Board of the Association shall be and are
hereby indemnified by the Association against all expenses and liabilities, including attorneys' fees,
reasonably incurred by or imposed upon them in any proceeding to which they may be a party, or in
which they may become involved, by reason of being or having been an officer, committee member, or
member of the Board of the Association, or any settlements thereof, whether or not they are an officer,
committee member, or member of the Board of the Association at the time such expenses are incurred;
except in such cases wherein such officer or Board member is adjudged guilty of willful misfeasance or
malfeasance in the performance of his duties.
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ARTICLE 7 COVENANT FOR PAYMENT OF ASSESSMENTS TO ASSOCIATION
Section 7.1 Creation of Lien and Personal Obligation for Assessments.
7.1.1 Each Owner, by acceptance of title to any Residential Unit (but not the Parking
Space Units) shall be deemed to covenant and agree to pay Assessments to the Association pursuant to
the Governing Documents. Such Assessments shall be the personal obligation of the Owner of such
Residential Unit at the time when the Assessment becomes due. The Assessments shall be a charge and a
continuing lien on each Residential Unit against which each such Assessment is made. If any Assessment
is payable in installments, the full amount of the Assessment is a lien from the time the first installment
becomes due. All Assessments shall be payable in the amounts specified in the levy thereof, and no
offsets or reduction thereof shall be permitted by any reason including, without limitation, any claim that
the Association or the Board is not properly exercising its duties and powers under this Declaration.
7.1.2 Each Owner of a Parking Space Unit,by acceptance of title to any Parking Space
Unit shall be deemed to covenant and agree to pay, in lieu of other Assessments except Special
Assessments and Special Unit Assessments charged against a Parking Space Unit as set forth in Sections
7.5, 7.6 and 8.3 hereof,the Parking Fee as provided herein. The Parking Fee shall be a yearly fee,which
shall be set and payable as determined by the Board. The initial Parking Fee for the year 2013 is hereby
set at $250. The Board may, in the Board's sole discretion, increase or decrease this fee by up to and
including five percent (5%) per year, and the current amount of the Parking Fee shall be included in the
Association's annual budget. The Parking Fee shall be deemed an Assessment hereunder and shall be
enforceable by the Association in the same manner as an Assessment.
Section 7.2 Purpose of Assessments. In addition to such other purposes as set forth in the
Act, Assessments and the Parking Fee shall be used for the purposes of promoting the health, safety, and
welfare of Owners and Related Users,and in particular:
7.2.1 To enforce all provisions of the Governing Documents;
7.2.2 To exercise all rights and powers and to discharge all duties and obligations of
the Association,and to pay all expenses therefor,pursuant to the Act and the Governing Documents;
7.2.3 To discharge all expenses incurred by the Association in the maintenance of the
Common Elements and portions of the Community the Association is required to maintain and all
improvements located thereon,including fixtures and personal property related thereto;
7.2.4 To discharge all expenses incurred by the Association in the maintenance of any
property the Association may elect to so maintain pursuant to the Governing Documents;
7.2.5 To pay the costs of providing utilities to and within the Real Estate and to pay the
costs of gas,electricity,water and sewer to each Residential Unit;
7.2.6 To pay the costs for providing insurance pursuant to Section 10.1 below (except
as such expenses may be assessed against individual Owners);and
7.2.7 To fund any operating deficit or reserves the Association deems necessary to
meet its financial obligations.
Section 7.3 Apportionment of Common Expenses. All Common Expense Assessments shall
be assessed against all Residential Units in accordance with the formula for Common Expense Liability
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as set forth on Exhibit B, except as otherwise provided in this Declaration. Additionally, in the Board's
sole discretion:
7.3.1 Any Common Expense for services provided by the Association to an individual
Residential Unit or to any Limited Common Element appurtenant to that Residential Unit,pursuant to the
Governing Documents or at the request of the Owner may be assessed solely against that Residential
Unit.
7.3.2 Any Common Expense for maintenance of a Limited Common Element
appurtenant to more than one Residential Unit but less than all may be assessed against the benefitted
Residential Units.
7.3.3 Any Common Expense for insurance may be assessed in proportion to risk.
7.3.4 Any Common Expense for utility services may be assessed in proportion to
usage.
7.3.5 If any utility service, such as gas, electricity, telephone, sewer, water, etc., is
separately metered to Residential Unit 9 but shared by Residential Units 1-8, Residential Unit 9 shall pay
its separately metered utility charges and not be subject to utility assessments for any such utilities to
Residential Units 1-8.
7.3.6 If a Common Expense is caused by the negligence or misconduct of an Owner,
the Association may assess that expense exclusively against that Owner and that Unit as a Special Unit
Assessment, as set forth in Section 8.3 hereof, in addition to sums charged to the Owner pursuant to
Section 7.6 hereof.
7.3.7 Fees, charges, taxes, impositions, late charges, fines, attorneys' fees, collection
costs and interest charged against an Owner are enforceable as Common Expense Assessments.
Section 7.4 Annual Assessment. The Common Expense Assessment shall be made on an
annual basis against all Residential Units based upon the Association's advance budget of the cash
requirements needed by it to provide for the administration and performance of its duties during such
Assessment year. Common Expense Assessments shall be due and payable annually or in periodic
installments, or in any other manner, as determined by the Board. Annual Assessments shall be levied
pursuant to the budget adopted by the Board each year.
Section 7.5 Special Assessments. The Board shall have the further right during any calendar
year, upon not less than thirty(30)days'notice to the Owners,to levy and assess against the Owners, in a
manner similar to Assessments for Common Expenses, a special assessment ("Special Assessment") for
such purpose or purposes as may be necessary or appropriate to maintain the Community to such standard
as the Board deems appropriate. Special Assessments may include, without limitation, the cost of
construction, installation and maintenance of any Common Elements, including fixtures and personal
property,to the extent such cost is in excess of the amount contemplated by the approved budget for such
calendar year or any expense deemed necessary by the Board. Parking Space Units shall be subject to
Special Assessments, but only for extraordinary expenses (not recurring annual expenses) related to the
Parking Area and for no other Common Elements, such as for replacement of the gate or the driveway or
elements thereof, including the snowmelt system and boiler,and upon such terms and sharing ratios as the
Board shall reasonably determine.
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Section 7.6 Special Unit Assessment. Special Unit Assessments shall be collectible as a
Common Expense Assessment. A Special Unit Assessment may be assessed against a Parking Space
Unit. The Association shall have the right to levy and collect a Special Unit Assessment against a
particular Owner or Unit or against one or more but fewer than all Owners and their Residential Units or
Parking Space Units(which shall also be a personal obligation of such Owners assessed),any expense:
7.6.1 To cure any violation of the Governing Documents;
7.6.2 To reimburse the Association for costs incurred in bringing an Owner and his or
her Unit into compliance with the provisions of the Governing Documents;
7.6.3 To reimburse the Association for an expense incurred on behalf of an Owner or
Owners under the Governing Documents(including, but not limited to, any expense which is incurred by
the Association for maintenance of any portion of the Community which is caused by or in any way
results from the actions or failure to act of an Owner or such Owner's Related Users);
7.6.4 To levy fines and other penalties and charges pursuant to the Governing
Documents(provided,however, levying a fine shall be after notice to the Owner and an opportunity to be
heard by the Board or other body);
7.6.5 To reimburse the Association for an expense incurred on behalf of an Owner
under the Governing Documents which benefits one or more, but less than all Owners and which is not
otherwise a Common Expense allocated pursuant to Section 7.3 above;or
7.6.6 To reimburse the Association for an expense incurred in providing such
insurance on behalf of an Owner as provided in Section 9.3 below, in the event that an Owner fails to
prove insurance coverage as required by the Governing Documents.
Section 7.7 Effect of Non-Payment of Assessments. Any Assessment provided for in this
Declaration, or any installment thereof, which is not fully paid within ten (10) days after the due date
thereof,shall bear interest at the rate of twenty-one percent(21%)per annum or at such lesser rate as may
be set by the Board from time to time from the due date, and the Association may assess a monthly late
charge thereon. Failure to make payment within sixty (60) days of the due date thereof shall cause the
total amount of such Assessment for any remainder of that fiscal year to become immediately due and
payable, at the option of the Board. Further, the Association may bring an action at law or in equity, or
both,against any Owner personally obligated to pay such overdue Assessments s,or any monthly or other
installments thereof, and may also proceed to foreclose its lien against such Owner's Unit. An action at
law or in equity by the Association against an Owner to recover a money judgment for unpaid
Assessments s, or any monthly or other installment thereof, may be commenced and pursued by the
Association without foreclosing or in any way waiving the Association's lien therefor. The Association's
costs of suit,expenses and reasonable attorneys'fees incurred simply by virtue of the failure of the Owner
to timely pay Assessments s when due, including attorneys'fees and costs for preparing and recording any
lien notice, and the Association's costs of suit, expenses and reasonable attorneys' fees incurred for any
such action and/or foreclosure proceedings, shall be taxed by the court as a part of the costs of any such
action or foreclosure proceeding and shall be recoverable by the Association from any Owner personally
obligated to pay the same and from the proceeds of the foreclosure sale of such Owner's Unit. Foreclosure
or attempted foreclosure by the Association of its lien shall not be deemed to estop or otherwise preclude
the Association from thereafter again foreclosing or attempting to foreclose its lien for any subsequent
Assessments s, or any monthly or other installments thereof, which are not fully paid when due. The
Association shall have the power and right to bid on or purchase any Unit at foreclosure or other legal
sale, and to acquire and hold, lease,mortgage,and to convey or otherwise deal with the same.The grantee
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of a Unit shall be jointly and severally liable with the grantor for all unpaid Assessments s against the
Unit which accrued prior to the conveyance, without prejudice to the grantee's right to recover from the
grantor the amounts paid by the grantee therefor. Whether or not the Association forecloses its lien, it
may apply for the ex parte appointment of a receiver for a Unit and the Owner of such Unit shall be liable
for all costs and expenses in securing and continuing this appointment, including receiver's fees,
attorney's fees,and costs.
Section 7.8 Lien Priority. The lien for all Assessments levied by the Association pursuant to
the Act and as described by this Article 7 is prior to all other liens and encumbrances on the Residential
Unit except:
7.8.1 Liens and encumbrances Recorded before the recordation of the Original
Declaration;
7.8.2 Liens for real estate taxes and other governmental assessments or charges against
the Residential Unit;
7.8.3 A First Mortgage on the Unit Recorded before the date on which the Assessment
sought to be enforced became delinquent, except to the extent the Association's lien is made superior by
the Act, i.e.,the Act provides that the Association's lien shall be prior to all First Mortgagees recorded on
or after July 1, 1992 to the extent of six(6)months' of Common Expense Assessments.
This Section does not affect the priority of mechanics' or materialmen's liens. Recording of the
Declaration constitutes record notice and perfection of the lien. No further recordation of any claim of
lien for Assessment under this Section 7.10 is required, except a notice of delinquent Assessment must
be Recorded before commencement of foreclosure. Sale or transfer of any Unit shall not affect the
Assessment lien. However,the sale or transfer of any Unit pursuant to judicial or nonjudicial foreclosure
of a First Mortgage shall extinguish that portion of the Association's lien that is subordinate to the First
Mortgage unless the Association shall exercise redemption or other rights in foreclosure to protect its
interests. No such sale, transfer, foreclosure, or any proceeding in lieu thereof, including deed in lieu of
foreclosure, nor cancellation or forfeiture shall relieve any Owner from continuing liability for any
Assessments s thereafter becoming due nor from Assessments s which were levied prior to the sale and
remain unpaid.No sale or transfer shall relieve such Unit from lien rights for any Assessments s thereafter
becoming due. Where a First Mortgagee or other purchaser of a Unit obtains title to the same as a result
of foreclosure or conveyance in lieu, such acquirer of title,his successors and assigns, shall not, except as
provided by Subsection 7.10.3 above, be liable for Assessments levied by the Association which became
due prior to the acquisition of title to such Unit by such acquirer. Any unpaid share of Common Expenses
or Assessments shall be deemed to be Common Expenses collectible from all of the Residential Units
including such acquirer,his successors and assigns.
Section 7.9 Statement of Unpaid Assessments. The Association shall provide Statements of
Unpaid Assessments as provided by the Act.
Section 7.10 Failure to Fix Assessment. The omission or failure to establish any Assessment
or deliver or mail a statement for any period shall not be deemed a waiver, modification, or release of the
Owners from their obligations to pay the same.
Section 7.11 No Waiver or Abandonment. No Owner may be exempt from liability for
payment of the Common Expenses by waiver of the use or enjoyment of any of the Common Elements or
by abandonment of the Unit against which the Assessments s are made.
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Section 7.12 Encumbrancer's Rights. Any encumbrancer holding a lien on a Unit may pay,but
shall not be required to pay, any unpaid Assessments s payable with respect to such Unit, and upon such
payment the encumbrancer shall have a lien on such Unit for the amounts paid of the same rank as the
encumbrancer's lien.
Section 7.13 Homestead Exemption. Each Owner hereby agrees that the Association's lien on
a Unit for Assessments as hereinbefore described is not subject to the provisions of any federal or state
homestead exemptions. Each Owner hereby agrees that the acceptance of a deed or other instrument of
conveyance for any Unit within the Community shall signify such grantee's waiver of all homestead
exemptions.
ARTICLE 8 RESPONSIBILITIES OF MAINTENANCE
Section 8.1 Owner Maintenance of the Residential Unit and Other Portions of Property
Within the Community.
Unit. 8.1.1 Each Owner shall be responsible for the maintenance of his or her Residential
8.1.2 For purposes of maintenance, an Owner shall be deemed to own and shall have
the right and obligation to maintain the interior non-supporting walls, and the materials (such as, but not
limited to, plaster, gypsum dry wall, paneling, wallpaper, paint, wall and floor tile, and flooring, but not
including the sub-flooring) making up the finished surfaces of the perimeter walls, doors, ceilings and
floors within the Residential Unit, and glass window breakage. The Owner shall also be responsible for
the maintenance (and damage as a result of any repair or failure to repair) of the water and sewer lines
running through the Residential Unit, drains and toilet flanges and all plumbing,gas, electrical, TV,cable
systems, and air conditioning, heating units (including water heaters) and ducts located within or
servicing only that Residential Unit, including computer, internet and television cable equipment and
connections, and all appliances whether "built-in" or freestanding within a Residential Unit. The Owner
shall not be deemed to own the Utilities running through his or her Residential Unit that serve one or
more other Residential Units, except as a tenant-in-common with the other Owners; provided, however,
Owners shall be responsible for any electrical outlets or switches that are accessed from the inside of such
Owner's Residential Unit, and meant to provide service solely for such Residential Unit. Except as
otherwise provided in this Declaration, Owners shall be responsible for cleaning and replacing all glass
surfaces and windows, including all window sills, panes, eaves, locks, handles, and all other window
components in or appurtenant to such Owner's Residential Unit. Owners shall be responsible for the
replacement of all light bulbs for light fixtures that are located within such Owner's Residential Unit as
well as light fixtures located outside such Owner's Residential Unit but operated by light switches located
within such Owner's Residential Unit, if any.
8.1.3 If any Limited Common Element has been improved, altered, upgraded or
bettered by an Owner (including, without limitation, systems (including snowmelt and/or drainage
systems),materials,or finishes),whether with or without the approval of the Association,then the Owner
of the Unit to which the upgraded Limited Common Element is appurtenant shall be responsible, at that
Owner's sole cost and expense, for all maintenance, upkeep, repair and replacement of such
improvements,and the Association shall not be responsible for same under the provisions of Section 8.2.3
below.
Section 8.2 Association Maintenance Within the Community. Except as otherwise provided
in Section 8.1 and elsewhere in the Governing Documents,the Association, acting through the Board, its
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officers and any managing agent shall have the sole and exclusive right and duty to manage, operate,
control,and maintain:
8.2.1 the Parking Space Units;
8.2.2 at the discretion of the Board,the exterior glass surfaces of all windows;
8.2.3 all of the Common Elements (including all Limited Common Elements, but
except as provided in Section 8.1.3 above)and any portion thereof,together with the improvements,trees,
shrubbery,plants and grass thereon,all as more fully set forth in the Governing Documents;and
8.2.4 any portion of a Residential Unit if, in the discretion of the Board, maintenance,
repair or replacement of such portion of a Residential Unit is necessary to preserve and protect the
Common Elements or any other Residential Unit. Any expenses incurred in the exercise of the
Association's rights under this Section 8.2.3 shall be a Special Unit Expense.
Section 8.3 Owner-Caused Maintenance. In the event that any Owner or his or her Related
User,through negligence or misconduct, causes the Association to maintain, repair, replace, or otherwise
perform work to or upon any Common Element (including Limited Common Elements) or to any Unit,
such Owner shall be solely responsible for the costs to the Association in performing such work. The
Owner shall reimburse the Association for such costs immediately upon receipt of an invoice for said
costs, and such amounts shall be assessed and collected as a Special Unit Assessment. Further, the
Association may assess the benefitted Owners separately for maintenance and improvements of Limited
Common Elements.
Section 8.4 Utilities. Each Residential Unit pays electricity,telephone and upgrades on cable
systems.The Association pays for usual trash removal;natural gas;and basic cable television. Other costs
associated with the use and occupancy of a given Residential Unit may be individually billed to such
Residential Unit, and the respective Owner shall pay the same. To the extent that gas, water, sewer,trash
removal and other costs associated with the use and occupancy of a Residential Unit are not separately
metered and/or billed to individual Residential Units, the costs of the same shall be billed to the
Association and shall be a common expense to be included in the Assessments levied by the Association
against the Residential Unit and payable by the Owner.
Section 8.5 Easements to Residential Units for Maintenance and Emergencies. Some of the
Common Elements are or may be located within a Residential Unit or may be conveniently accessible
only through a particular Residential Unit. The Board, any managing agent, and each Owner shall have a
non-exclusive right and easement,which may be exercised for any Owner by the Board, or the managing
agent, as his agent, for access through each Residential Unit and to all Common Elements, from time to
time, during such reasonable hours as may be reasonably necessary for the maintenance of any of the
Common Elements located therein or accessible therefrom or for making emergency repairs therein
necessary to prevent damage to the Common Elements or to another Residential Unit. When access to a
Residential Unit is required,at least twenty-four(24)hours prior notice shall be provided to the occupants
of such Residential Unit, except when said occupants have no objection to earlier entry and except in the
case of an emergency. The cost to repair damage to the interior or any part of a Residential Unit resulting
from the maintenance or emergency repair or replacement of any of the Common Elements or as a result
of repairs within another Residential Unit, at the instance of the Board or the managing agent, shall be a
Common Expense of all of the Owners. No diminution or abatement of Common Expense Assessments
shall be claimed or allowed for inconvenience or discomfort arising from the maintenance or from action
taken to comply with any law, ordinance or order of any governmental authority. Restoration or repair of
the damaged areas shall be to substantially the same condition as they existed prior to the damage.
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Notwithstanding the foregoing, if any such damage is the result of the activities of any Owner, or said
Owner's Related Users,then the Owner shall be responsible for all costs and losses incurred as a result of
such damage, including any expenses incurred to avoid or repair such damage and any losses suffered by
other Owners as a result of such damage.
Section 8.6 Conditions of Owner's Work. Under no circumstances may any Owner or
Related User alter the Unit in such a manner as to affect, in any way,any Common Element without prior
written approval from the Board. Such written approval shall be in the Board's sole discretion and may be
conditioned upon such requirements of the Association and the local governmental jurisdiction.
ARTICLE 9 CASUALTY/CONDEMNATION/INSURANCE
Section 9.1 Casualty or Destruction of Common Elements. Except as otherwise provided in
Section 9.2 below, if any portion of the Common Elements is damaged or destroyed by fire or other
casualty,then the Board shall contract to repair or rebuild the damaged portions of the Common Elements
substantially in accordance with the Common Elements at the time of the fire or other casualty.
Section 9.2 Election by Owners Not to Repair. There shall be no reconstruction in the
following situations:
9.2.1 Damage to Building A Common Elements Only. The Owners holding ninety
percent(90%)of the Allocated Interests in the Building A Common Elements and 100%of the Owners of
any affected Residential Units elect not to repair or rebuild Building A.
9.2.2 Damage to Building B Common Elements Only. The Owners holding ninety
percent (90%) of the Allocated Interests in the Building B Common Elements and the Owners of
Residential Unit 9 elect not to repair or rebuild Building B.
9.2.3 Damage to Shared Common Elements Only. Owners holding ninety percent
(90%) of the Allocated Interests in the Shared Common Elements elect not to repair or rebuild the
Community.
Section 9.3 Special Unit Assessment. The Board shall have the right to levy a Special Unit
Assessment against each Residential Unit in the damaged or destroyed Building in the proportion the
Residential Units are assessed (their allocation for the particular Building Common Elements), for
purposes of raising funds for the rebuilding or major repair of the structural Common Elements of the
damaged Building,to make up any deficiency between the total insurance proceeds and the contract price
for such repair and rebuilding. Such Assessment and all insurance proceeds, whether or not subject to
liens of mortgagees, shall be paid to the account of the Association to be used for such rebuilding.
Section 9.4 Casualty or Destruction of a Residential Unit. In the event of damage or
destruction of any Residential Unit, the Owner thereof shall reconstruct the same as soon as reasonably
practicable and substantially in accord with the plans and specifications at the time of such casualty or
destruction.
Section 9.5 Condemnation. If any portion of the Community is taken by condemnation,
eminent domain or any proceeding in lieu thereof, distribution of all rewards shall be in accordance with
the Act.
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ARTICLE 10 INSURANCE
Section 10.1 General Insurance Provisions. The Association shall obtain and keep in full force
and effect, and shall pay for out of Assessments, the insurance coverages set forth herein and as set forth
in the Act. These insurance coverages shall be provided by financially responsible and able companies
duly authorized to do business in the State of Colorado,and shall include the following:
10.1.1 Hazard Insurance Coverage. Insurance of fire, with extended coverage,
vandalism, malicious mischief, all-risk, replacement cost, agreed amount (if the policy includes co-
insurance), special condominium, building ordinance and inflation guard endorsements attached, in
amounts determined by the Board to represent not less than the full then current insurable replacement
cost of the Building including all of the Units and Common Elements, but excluding all fixtures, interior
walls and floors, partitions, decorated and finished surfaces of interior walls, floors, and ceilings, doors,
windows and other elements or materials comprising a part of the Residential Units and any components
of Limited Common Elements described in Section 8.1.3 above, and further excluding any fixtures,
equipment or other property within the Residential Units. Maximum deductible amounts for such policy
shall be determined by the Board, provided, however,that if an Agency requires specific deductibles,the
Board shall follow such Agency's requirements. In the event that satisfactory arrangement is not made for
additional insurance by the Owner as required by this Declaration,the Owner shall be responsible for any
deficiency in any resulting insurance loss recovery and the Association shall not be obligated to apply any
insurance proceeds to restore the affected Residential Unit.
Such hazard insurance policy must be written by an insurance carrier that has(a)a"B" or
better general policyholder's rating or a "6" or better financial performance index rating in Best's
Insurance Reports, or (b) an "A" or better general policyholder's rating and a financial size category of
"VIII"or better in Best's Insurance Reports International Edition.
All policies shall contain a standard non-contributory mortgage clause in favor of each
First Mortgagee, and their successors and assigns, which shall provide that the loss, if any thereunder,
shall be payable to the Association for the use and benefit of First Mortgagees, and their successors and
assigns, as their Recorded interests may appear. If obtainable, the Association shall also obtain the
following and any additional endorsements deemed advisable by the Board: (a) an Inflation guard
endorsement, (b) a Construction Code endorsement, (c) a demolition cost endorsement, (d) a contingent
liability from operation of building laws endorsement, and (e) an increased cost of construction
endorsement.
10.1.2 Comprehensive Liability. Comprehensive general public liability and property
damage insurance for the Community in such amounts as the Board deems desirable, provided that such
coverage shall be for at least $1,000,000 for bodily injury, including deaths and property damage arising
out of a single occurrence insuring the Association, the Board, the managing agent, or both, if any, and
their respective agents and employees, and the Owners from liability in connection with the operation,
maintenance and use of Common Elements and must include a "severability of interest"clause or specific
endorsement. Such coverage shall also include legal liability arising out of contracts of the Association
and such other risks as are customarily covered with respect to condominiums similar to the Community
in the Eagle County/Town of Vail. The Board shall not enter into employment contracts or independent
contractor contracts of any kind unless the contracting party provides evidence (such as a Certificate of
Insurance) to the Board that such party has current and satisfactory insurance, including workers
compensation insurance, commercial general liability insurance and automobile insurance on all of which
the Association is named as an additional insured.
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The insurance policies may be carried in blanket policy form naming the Association as
the insured, for the use and benefit of and as attorney-in-fact for the Owners. Each Owner shall be an
insured person under the policy with respect to liability arising out of such Owner's interest in the
Common Elements or membership in the Association. Each Mortgagee and its successors or assigns shall
be a beneficiary of the policy in the percentages of Common Expenses for the Residential Unit, which the
Mortgage encumbers. The insurance company shall waive its rights of subrogation under the insurance
policy against any Owner or member of the Owner's household.No act or omission by any Owner,unless
acting within the scope of such Owner's authority on behalf of the Association, shall void the insurance
policy or be a condition to recovery under the insurance policy. If, at the time of a loss under an insurance
policy described above there is other insurance in the name of the Owner covering the same risk covered
by the policy,the Association's policy shall provide primary insurance.
10.1.3 Fidelity Insurance. The Association shall obtain adequate fidelity coverage or
fidelity bonds to protect against dishonest acts on the parts of its officers, directors, trustees and
employees and on the part of all others who handle or are responsible for handling the funds of the
Association, including persons who serve the Association with or without compensation. The fidelity
coverage or bonds should be in an amount sufficient to cover the maximum funds that will be in the
control of the Association, its officers,directors,trustees and employees.
10.1.4 Worker's Compensation and Employer's Liability Insurance. The Association
shall obtain worker's compensation and employer's liability insurance and all other similar insurance with
respect to its employees in the amounts and forms as may now or hereafter be required by law.
10.1.5 Officers'and Directors'Liability Insurance. The Association shall obtain officers'
and directors' personal liability insurance to protect the officers and directors from personal liability in
relation to their duties and responsibilities in acting as officers and directors on behalf of the Association. j
10.1.6 Other Insurance. The Association may obtain insurance against such other risks,
of similar or dissimilar nature, including flood insurance, as it shall deem appropriate with respect to the
Association responsibilities and duties.
Section 10.2 Insurance Premiums. Except as assessed in proportion to risk or other factors as
permitted under the terms of this Declaration, insurance premiums for insurance provided pursuant to this
Article 10 shall be a Common Expense to be included as a part of the annual Assessments levied by the
Association, in accordance with the percentage allocations for "Shared Common Elements" shown on
Exhibit B.
Section 10.3 Managing Agent Insurance. The manager or managing agent, if any, shall be
adequately insured for the benefit of the Association, and shall maintain and submit evidence of such
coverage to the Association.
Section 10.4 Waiver of Claims Against Association. As to all policies of insurance obtained
by or for the benefit of the Association and Owners, the Association and the Owners hereby waive and
release all claims against one another and the Board, to the extent of the insurance proceeds available,
whether or not the insurance damage or injury is caused by the negligence of or breach of any agreement
by and of said persons.
Section 10.5 Certificates of Insurance; Cancellation. Certificates of Insurance shall be issued
to each Owner and Mortgagee upon request. All policies required to be carried under this Article 10 shall
provide a standard non-contributory mortgagee clause in favor of each First Mortgagee of a Residential
Unit and shall provide that such policy cannot be cancelled by the insurance company without at least
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thirty (30) days prior written notice to each Owner and each First Mortgagee whose address is shown in
the records maintained pursuant to the Association's documents. If the insurance described in Article 10 is
not reasonably available, or if any policy of such insurance is cancelled or not renewed without a
replacement policy therefore having been obtained, the Association promptly shall cause notice of that
fact to be hand delivered or sent prepaid by United States certified mail to all Owners.
Section 10.6 Procedures for Claims. The Association may adopt and establish written
nondiscriminatory policies and procedures relating to the submittal of claims, responsibility for
deductibles,and any other matters of claims adjustment.
Section 10.7 Owners; Policies. Owners are responsible for carrying, at their own expense,
insurance to augment or cover losses and damages not covered by the blanket insurance carried by the
Association, which shall include coverage for all fixtures, interior walls and floors, partitions, decorated
and finished surfaces of perimeter walls, floors, and ceilings, doors, windows and other elements or
materials comprising a part of the Residential Units and any components of Limited Common Elements
described in Section 8.1.3 above, and further including any fixtures, equipment or other property within
the Residential Units. Insurance policies issued to the Association do not eliminate the need for Owners to
obtain insurance for their own benefit. Individual Owners shall carry such other insurance for their own
benefit and at their own expense, provided that the liability of the carriers issuing insurance obtained by
the Association shall not be affected or diminished by reason of any such additional insurance carried by
any Owner. Insurance coverage on improvements and fixtures installed by an Owner and on furnishings,
including, but not limited to carpeting and other floor coverings, draperies, oven, range, refrigerator,
wallpaper, garbage disposal and other items of personal property belonging to an Owner, and public
liability coverage within each Unit shall be the sole and direct responsibility of the Owner thereof,and the
Board,the Association and/or the managing agent shall have no responsibility therefor. Similarly,Owners
shall be responsible for insuring any items stored in any portion of the Unit or Limited Common Element
appurtenant to such Unit, and for insuring any automobiles, motorcycles or other vehicles, any bicycles,
and any parts and contents of any of the foregoing, which are located within the Community, and the
Board,the Association and/or the managing agent shall have no responsibility therefor.
Section 10.8 Owner Caused Damages. If any loss or damage shall be caused to any person or
property, including the Building or other improvements, or to an Unit, due to the act or neglect of an
rh' g g P Y g Y
Owner or such Owner's Related User, such Owner shall be liable and responsible for the same regardless
of whether such damage or loss is covered by insurance obtained by the Association. The amount of any
loss or damage may be collected by the Association from the Owner causing same as a Special Unit
Assessment pursuant to Section 7.7.
Section 10.9 No Imperiling of Insurance. No Owner and no Owner's Related Users shall do
anything or cause anything to be kept within the Community which might: (i)result in an increase in the
premiums of insurance obtained for the Community;or(ii)cause cancellation of such insurance.
Section 10.10 Association as Attorney-In-Fact. In furtherance of this Article 10, each Owner
hereby appoints the Association as his or her attorney-in-fact pursuant to the provisions of Article 13
below.
ARTICLE 11 OBSOLESCENCE
Section 11.1 Plan for Renewal and Reconstruction. Owners representing at least seventy
percent(70%)of the Allocated Interest in the Building A Common Elements and seventy percent(70%)
of the Building B Common Elements may agree that the Common Elements are obsolete and adopt a
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written plan for the renewal and reconstruction. Such plan shall be recorded in Eagle County, Colorado
real estate records.
Section 11.2 Payment for Renewal and Reconstruction. The expense of renewal or
reconstruction shall be payable by all of the Owners as Special Assessments. These Special Assessments
shall be levied in advance and shall be allocated and collected as Special Assessments. Further Special
Assessments may be made in like manner if the amounts collected prove insufficient to complete the
renewal and reconstruction. In the event amounts collected pursuant to this paragraph are in excess of the
amounts required for renewal and reconstruction, the excess shall be returned to the Owners by the
Association in an amount proportionate to the respective amount collected from each Owner.
Section 11.3 Sale of Obsolete Project. Owners representing at least seventy percent (70%) of
the Allocated Interests in the Building A Common Elements and seventy percent(70%)of the Building B
Common Elements may agree that the Units are obsolete and that they should be sold. In such instance,
the Association shall forthwith record a notice setting forth such fact and upon the recording of said
notice by the Association, the Units shall be sold by the Association as attorney in fact for all of the
Owners free and clear of the provisions contained in this Declaration, the Map, and the Association
Articles and By-Laws. The sale proceeds shall be apportioned among the Owners in proportion to the
Allocated Interest as shown on Exhibit B. Each Owner's interest in such proceeds shall be subject to
payment of all Mortgages and other liens of record at the time such disbursement is paid.
Section 11.4 Association as Attorney-In-Fact. In furtherance of this Article 11, each and every
Owner appoints the Association as his or her attorney-in-fact pursuant to Article 13 below.
ARTICLE 12 USE OF CONDOMINIUM UNITS AND COMMON ELEMENTS
Section 12.1 Residential Purposes. Each Owner shall be entitled to the exclusive ownership
and possession of his Residential Unit. The use of all Residential Units shall be subject to: (i) all
applicable governmental rules, regulations, laws, ordinances and restrictions; and(ii)all provisions of the
Governing Documents as though such restrictions are set forth in this Declaration. Each Residential Unit
shall be improved,used and occupied for private,residential single-family dwelling purposes only,and no
such Residential Unit shall be occupied for living or sleeping purposes by more persons than it was
designed to accommodate safely. No Residential Units or Common Elements shall be used for any
business or commercial purposes whatsoever,except as otherwise provided in the Governing Documents.
Section 12.2 Right of First Refusal for Transfer of Parking Space Units. Any Owner of a
Residential Unit shall have the right (the "Right of First Refusal") to purchase a Parking Space Unit on
the same terms and conditions as those of any bona fide written offer ("Offer") received by and
acceptable to the seller of the Parking Space Unit("Seller"); provided however, a Seller who receives an
Offer for the sale of his Parking Space Unit from a Residential Unit Owner is not required to follow the
procedures set forth herein and can proceed directly to conclude such sale. In the event a Seller, at any
time, desires to sell a Parking Space Unit and shall receive an Offer that the Seller is willing to accept,
then, prior to accepting the Offer, the Seller shall notify all Residential Unit Owners of such facts and
shall deliver to all Residential Unit Owners a copy of the Offer, and any Residential Unit Owner shall
have the right to acquire the Parking Space Unit on the same terms and conditions as are in the Offer.
Residential Unit Owners shall have until 11:59 p.m., Mountain Time, on the tenth (]0'h) business day
after the effective date of the Seller's notice to exercise the Right of First Refusal. A Residential Unit
Owner shall exercise the Right of First Refusal, if at all, by written notice to Seller of such Residential
Unit Owner's election to exercise such right. If more than one Residential Unit Owner desires to
purchase such Parking Space Unit, it shall be sold to the Residential Unit Owner willing to pay the
highest price.
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Section 12.3 Restrictions Regarding Vehicular Parking Storage and Repairs within Parking
Space Units and Parking Spaces.
12.3.1 Parking of vehicles shall be in accordance with the Governing Documents.
12.3.2 All vehicular parking within the Community shall be regulated by the Board.
Section 12.4 Certain Work Prohibited. Owners are limited in the use of their Unit and the
Community,as follows:
12.4.1 No Owner shall undertake any work, enhancements or alterations in his Unit
which would jeopardize the soundness, health or safety of the Community, impair the structural integrity,
electrical or mechanical systems or lessen the support of any portion of the Community, or impair any
easements;
12.4.2 Structural alterations shall not be made by an Owner to the exterior portions of
his or her Unit or to the Building,nor shall an Owner make any changes to the water,gas or pipes,electric
conduits, plumbing or other fixtures, nor shall an Owner remove any additions, improvements or fixtures
from the Building, without prior written approval of the Board(which approval may be withheld for any
reason).
12.4.3 No Owner may change the appearance of any of the Common Elements,
including any Limited Common Elements appurtenant to such Owner's Unit that are visible from the
exterior of the Building or such Unit without prior written approval of the Board(which may be withheld
for any reason).
12.4.4 No Owner shall hang, erect, affix or place anything upon any of the Common
Elements (except for decorative items located within his Residential Unit), and no Owner shall place
anything on or in windows or doors of Residential Units that would or might create an unsightly
appearance or create an unsafe condition.
Section 12.5 Limited Common Elements. Each Limited Common Element is a Common
Element and as such is owned by all Owners as tenants-in-common. An Owner's right to use a particular
Limited Common Element shall be: (i) appurtenant to the Residential Unit with which the Limited
Common Element is conveyed or assigned; (ii) shall be used only for the purposes set forth in this
Declaration; and (iii) used by the Owner(s) or Related User(s) in accordance with the Governing
Documents.
Section 12.6 Use of Common Elements. Except as otherwise provided herein, the Common
Elements shall be improved and used only in accordance with the Governing Documents and the Act.
Section 12.7 Owners Liable for Damage. Each Owner shall be liable to the Association for all
damage to the Common Elements and any improvements thereto, including the Building, and
landscaping, caused by such Owner or Related Users. In addition, each Owner shall be liable to the any
other Owner(s)for all damage to the Unit of the other Owner(s)and any improvements thereto caused by
such Owner or Related Users. Each Owner shall be responsible for compliance with the provisions of the
Governing Documents by his Related Users, and shall, after written notice and an opportunity for a
hearing, pay the fines and penalties assessed pursuant to the Governing Documents for any violation by
the Owner or his Related Users.
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Section 12.8 Pets. Only those animals which the Board defines as "pets" shall be allowed
within the Community, as expressly set forth in the Rules. All Owners and Related Users must comply
with any restrictions or limitations as set forth in the Rules, and no pets shall be allowed on any portions
of the Common Elements except for access to and from the Residential Unit as may be permitted by
Rules established by the Board.No pet shall be permitted to be kept within any portion of the Community
if it makes excessive noise or constitutes a safety risk or an unreasonable annoyance to other Owners as
determined by the Board in its sole discretion. An Owner is responsible for any damage caused by his
pets and pets of all Related Users and shall be obligated to clean up after his pets in the Community.
Section 12.9 No Noxious, Offensive Hazardous or Annoying Activities. No noxious or
offensive activity shall be carried on upon any part of the Community, nor shall anything be done or
placed on or in any part of the Community that, in the sole discretion of the Board, is or may become a
nuisance or cause embarrassment, disturbance or annoyance to others. No sound shall be emitted from
any part of the Community that is unreasonably loud or annoying.No odor shall be emitted from any part
of the Community that is noxious or offensive to others. No light shall be emitted from any part of the
Community which is unreasonably bright or causes unreasonable glare.No unsightliness or waste shall be
permitted on or in any part of the Community. Without limiting the generality of the foregoing,no Owner
shall keep or store anything on or in any of the Common Elements.
Section 12.10 Leasing. The term "lease," as used herein, shall include any agreement for the
leasing, rental or occupancy of a Unit. Owners shall have the right to lease their Units only under the
following conditions:
12.10.1 Units may be rented for any term„ i.e. for a number of days, weeks or months.
All leases with a term of thirty days or greater shall be in writing.
12.10.2 All leases shall provide that the terms of the lease and the tenant's occupancy of
the Unit shall be subject in all respects to the provisions of the Governing Documents, as the same may be
amended from time to time, and that any failure by such tenant to comply with the provisions of these
instruments, in any respect, shall be a default under the lease, said default to be enforceable by the Board,
the Owner/landlord, or both. Prior to occupancy, all tenants must be given copies of the Governing
Documents.
12.10.3 The Association may charge a rental service fee to offset damage from the
Common Elements caused by leasing.
12.10.4 Any Owner's right to lease is expressly conditional upon applicable Rules which
may further limit an Owner's right to lease the Unit.
12.10.5 Any Owner who leases his or her Unit for a term of thirty days of greater shall
forward a copy of the written lease to the Association within ten (10)days after the execution by Owner
and the tenant/lessee.
Section 12.11 Outside Antennae.There shall be no outside television,radio antennae or satellite
dishes, poles or flag poles constructed, or maintained on the Community for any purpose, except as
installed by the Association,and except as expressly allowed pursuant to the Rules as promulgated by the
Board, which must be in accordance with the express terms of the Telecommunications Act of 1996 and
with the Act.
Section 12.12 Combining and Separating of Residential Units. Subject to the provisions
elsewhere contained in this Declaration and the other Governing Documents,the Owner or Owners,as the
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case may be, of two horizontally or vertically adjoining Residential Units may combine the Residential
Units into one Residential Unit with the prior written consent of the Board, and upon the following
conditions:
12.12.1 All Limited Common Elements created by combining two Residential Units shall
be maintained pursuant to the Governing Documents.
12.12.2 The Owner must strictly comply with all terms and conditions of this
Declaration,the Rules,the Act,and any construction policy agreement.
12.12.3 The Owner must submit all plans and specifications to the Board, which
submission shall include all information requested by said Board at any time and from time to time, and
shall include payment of such reasonable fees and costs as the Board shall assess or incur. The Board
shall approve all such plans and specifications prior to commencement of construction. All improvements
shall be made in strict compliance with the approved plans and specifications.
12.12.4 The Owner shall strictly comply with all conditions for construction that may be
required by the Board in order to protect and preserve the Real Estate and the Common Elements.
12.12.5 The Owner shall submit, obtain approval from, and strictly comply with all
conditions for construction as may be imposed by any local architectural or design review body.
12.12.6 The Owner shall strictly comply with the building codes of the Town of Vail and
all other applicable government entities.
12.12.7 At the expense of the Owner desiring to combine Residential Units (which
liability therefore shall be joint and several among all Owners of the Residential Units) the Board may
retain engineers, architects, attorneys and contractors to advise it concerning such combination as to
insure the structural integrity of the building is maintained.
12.12.8 When two Residential Units have been formally combined, the Map shall be
amended to depict the boundaries of such new Residential Unit and Exhibit B shall be amended to reflect
the reallocation of the Allocated Interests.
ARTICLE 13 ATTORNEY-IN FACT
Each Owner by his or her acceptance of the deed or other conveyance vesting in him or her an
interest in a Unit does irrevocably constitute and appoint the Association with full power of substitution
as his or her true and lawful attorney in his or her name, place and stead to: (i) deal with his or her
Undivided Interest in the Common Elements; (ii) manage, maintain and otherwise operate all real and
personal property as may be acquired by the Association as attorney-in-fact for each Owner is the
Allocated Interest in the Common Elements which is allocated to the Owner; and (iii)manage, maintain
and otherwise deal with such other portions of the Real Estate as may be necessary to effectuate the
provisions of the Governing Documents. This power of attorney shall relate to all matters, including but
not limited to, dealing with such Owner's interest upon damage to or destruction, obsolescence,
condemnation, liquidation of all or part of the Community, or the termination of the Community, and to
represent the Owner in any related proceedings, negotiations, settlements or agreements. If requested to
do so by the Association, each Owner shall execute and deliver a written instrument confirming such
appointment. The action of the Association in settling any damage, condemnation, liquidation or
termination claim shall be final and binding on all Owners. No Owner shall have any rights against the
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Association or any of its officers or directors with respect thereto except in case of fraud or gross
negligence.
Any payment from any settlement award or insurance claim obtained in relation to any
condemnation, destruction, taking or liquidation of any or all of the Community shall be payable to the
Association for the benefit of affected Owners and First Mortgagees. In the event the Association receives
funds from the sale of property as discussed in this Article 14, or if the Association realizes any losses,
awards or proceeds from any other source, or from the termination of the Declaration, these proceeds,
awards or losses shall be allocated among the Owners according to their Allocated Interests.
ARTICLE 14 AMENDMENT AND TERMINATION
Section 14.1 Technical Clerical Typographical or Clarification Amendment. If the Board
shall determine that any amendments to this Declaration or to the Map shall be necessary in order to make
non-material changes, such as for the correction of a technical, clerical, or typographical error, change of
the Association's address stated on the cover page of this Declaration, or clarification of a statement,then
the Board shall have the right and power to make and execute any such amendments without obtaining
the approval of any Owners.
Section 14.2 Necessary to Exercise Authority of Association Documents. The Board shall
have the authority to execute amendments to this Declaration or to the Map which are reasonably
necessary in order to perform the duties authorized by this Declaration.
Section 14.3 Amendment of Declaration by Owners. Except as otherwise provided in this
Declaration and subject to provisions elsewhere contained in this Declaration requiring the consent of
others,any provision,covenant,condition,restriction,or equitable servitude contained in this Declaration
may be changed or repealed, and any provision, covenant, condition, restriction or equitable servitude
may be added to this Declaration, at any time and from time to time upon approval of at least sixty-seven
percent(67%)of the Total Voting Interests in the Association.
Section 14.4 Amendment Affecting Parking Space Units. Notwithstanding any other
provision hereof to the contrary, no amendment or modification of this Declaration shall abridge, amend,
impair or otherwise adversely affect the interests of any Parking Space Unit or the Owners thereof
without the prior consent of at least 75%of the Owners of all Parking Space Units.
Section 14.5 Recording of Amendments. To be effective, all amendments to or termination of
this Declaration must be Recorded and must contain evidence of approval thereof. One method of
satisfying the requirements of this Section is the recordation of a certificate of the Secretary of the
Association, certifying that Owners representing the requisite percentage of Allocated Interests
appurtenant to the Units have given their written consent to the amendment. The Secretary must further
certify that originals of such written consent by Owners along with the Recorded amendment are in the
corporate records of the Association and available for inspection. No action to challenge the validity of
this Amended and Restated Declaration,or any other Amendment adopted by the Association pursuant to
this Section,may be brought more than one(1)year after the Amendment is Recorded.
Section 14.6 Termination. The Community and the Association may be terminated upon an
affirmative vote of the Owners holding ninety percent (90%) of the Allocated Interests or such other
percentage as is set forth in Article 11 above,and in accordance with Section 218 of the Act.
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ARTICLE 15 GENERAL PROVISIONS
Section 15.1 Enforcement. The Association and any Owner shall have the right to enforce by
any proceedings at law or in equity, each covenant, condition, restriction and reservation, now or
hereafter imposed by this Declaration. Each Owner shall have a right of action against the Association for
any failure by the Association to comply with the provisions of this Declaration or of the Bylaws or
Articles. Failure by the Association or any Owner to enforce any covenant, condition, restriction or
reservation contained in this Declaration shall not be deemed a waiver of the right to do so thereafter. In
such action the court may award reasonable attorney's fees and costs to the prevailing party.
Section 15.2 Disclosure of Owner's Information. Each Owner shall, at all times, provide the
Manager or designated officer of the Board, with his or her current street address(and mailing address if
they are different),e-mail address(if any),and any other information reasonably requested by the Board.
Section 15.3 Notices to the Association—Association Address. Notice as may be permitted or
required to be given to the Association pursuant to the Governing Documents or any Colorado law shall
be in writing and sent by United States Mail, postage prepaid, return receipt requested, to the address of
the Association's registered agent at the address set forth in the office of the Colorado Secretary of State
and shall only be deemed given if proof of receipt is established. The current registered address of the
Association is set forth on the first page of this Declaration, but may be changed at any time and from
time to time, by filing a statement of registered agent or change of registered agent in the office of the
Colorado Secretary of State. Additionally, Owners may also send such notice to the president or
managing agent as may be set forth within the Association's web site.
Section 15.4 Owner Compliance. Each Owner and his or her Related Users shall comply with
the provisions of the Governing Documents and all local, state and federal laws. Failure to so comply
shall permit an action to recover sums due for damages and injunctive relief, the levying of fines and
other charges,and such Owner shall be liable for all attorneys'fees and costs incurred by the Association.
Section 15.5 Final Determination. Determination with respect to whether or not a particular
activity or occurrence shall constitute a violation of any provision of this Declaration shall be made by the
Board and shall be final.
Section 15.6 Severability. Should any provision in this Declaration be void or become
unenforceable in law or equity by judgment or court order, the remaining provisions of this Declaration
shall remain in full force and effect.
Section 15.7 Interpretation. The provisions of this Declaration shall be liberally construed to
effectuate their purposes of creating a uniform plan for the use and occupancy of the Units and of
promoting and effectuating the fundamental concepts as set forth in the recitals of this Declaration. This
Declaration shall be construed and governed under the laws of the State of Colorado.
Section 15.8 Singular Includes the Plural and Gender. Unless the context otherwise requires,
the singular shall include the plural, and the plural shall include the singular, and each gender referral
shall be deemed to include the masculine,feminine and neuter.
Section 15.9 Captions. All captions and titles used in this Declaration are intended solely for
convenience of reference and shall not enlarge, limit or otherwise affect that which is set forth in any
paragraph,section or article hereof.
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Section 15.10 Term of Declaration. The provisions of this Declaration (and all Covenants)shall
run with and bind the Real Estate in perpetuity,unless terminated pursuant to Section 12.3 or 15.6 above.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
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IN WITNESS WHEREOF, the president of the Association states that the foregoing Amended and
Restated Declaration has been duly approved by the Owners and the requisite percentage of holders of
First Mortgages, or in accordance with Section 217 of the Act, and, upon Recording, supersedes the
Original Declaration, in its entirety.
TYROLEAN CONDOMINIUM ASSOCIATION a Colorado
nonprofit corporation
By:
Herbert A.Tobin, its president
STATE OF )
ss.
COUNTY OF )
The foregoing Amended and Restated Declaration for Tyrolean Condominiums was
acknowledged before me this day of ,2013 by Herbert A.Tobin as
president of Tyrolean Condominium Association,a Colorado nonprofit corporation.
My commission expires:
Witness my hand and official seal.
Notary Public
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EXHIBIT A
LEGAL DESCRIPTION
TYROLEAN CONDOMINIUMS,A RESUBDIVISION OF TRACT B,VAIL VILLAGE FIRST
FILING,TOWN OF VAIL, EAGLE COUNTY,COLORADO.
EXHIBIT B
INTERESTS IN COMMON ELEMENTS
Interests in Shared Common Elements
Allocated Interest in Shared Common
Unit No. Elements Appurtenant to the Unit
1 7.3014%
2 6.5746%
3 6.5355%
4 11.1254%
5 8.8780%
6 10.4881%
7 13.1883%
8 5.8422%
9 30.0665%
All parking space units,collectively 0.0100%
Total 100.0100%
Interests in Building A Common Elements
Allocated Interest in Building A
Unit No. Common Elements Appurtenant to the Unit
1 10.4405%
2 9.4012%
3 9.3453%
4 15.9085%
5 12.6949%
6 14.9972%
7 18.8584%
8 8.3540%
Total 100.0000%
Interests in Building B Common Elements
Allocated Interest in Building B
Unit No. Common Elements Appurtenant to the Unit
9 100.0000%
Common Expense Liability shall be determined by the Owner's interest in the Shared Common Elements
and in the Building A Common Elements and in the Building B Common Elements except that the
Parking Space Unit Owners' collective 0.0100%interest in the Shared Common Elements shall not result
in any Common Expense Liability except as expressly provided in the Declaration.