HomeMy WebLinkAboutB11-0496 Enzian Amend to Construction Easement AgmntAMENDMENT TO
CONSTRUCTION EASEMENT AGREEMENT
THIS AMENDMENT TO CONSTRUCTION EASEMENT AGREEMENT
( "Amendment ") is made effective as of the 1St day of June 2013, by and between ENZIAN AT
VAIL CONDOMINIUM ASSOCIATION, INC., a Colorado nonprofit corporation (the "Enzian
Association "), and LIONSHEAD INN, LLC, a Colorado limited liability company
( "Lionshead ").
RECITALS:
A. In connection with the proposed construction of the Strata Project
by Lionshead, in August 2010 Lionshead and Enzian Association entered into a
Memorandum of Understanding ( "MOU ") and a Construction Easement Agreement
( "Agreement "). All capitalized terms used in this Amendment not otherwise defined
herein shall have the meaning provided in the Amendment.
B. Lionshead Inn has not yet started construction of the Strata Project
in accordance with the MOU and Agreement, and the Agreement is set to expire if
Lionshead does not begin construction on or before June 1, 2013.
C. Lionshead Inn has requested that Enzian extend the term of the
Agreement, and Enzian Association is willing to extend such term on the terms and
conditions of this Amendment.
In consideration of the recitals set forth above, and the mutual covenants
and agreements set forth herein, Enzian Association and Lionshead covenant and agree and
amend the Agreement as follows.
Agreement
1. Extension to 2014 Start Date. Lionshead will still be entitled to proceed
with the development of the Strata Project, provided that Lionshead satisfies each of the
following conditions precedent: (a) Lionshead begins construction during the Commencmenent
Period in 2014 and no later than June 1, 2014; and (b) no later than June 21, 2013 Lionshead
pays Enzian Association $150,000 in good funds. The foregoing payment of $150,000 to Enzian
Association shall be nonrefundable under any and all circumstances, including with out
limitation if Lionshead fails to begin construction on or before June 1, 2014.
2. Completion of Exterior Work. The Aplicable Deadline for completing (i)
the major components of work on the exterior of the Strata Project building and (ii) the Required
Work shall be November 20, 2015.
3. Expiration of Construction Easement. The Easement shall terminate if
Lionshead fails to timely start construction in accordance with Paragraph 1 of this Amendment.
Except as otherwise provided above, the Easement shall terminate no later than November 30,
2018.
4. Except as otherwise set forth in this Amendment, all other requirements,
terms, conditions and deadlines of the MOU and Agreement shall apply and govern, shall remain
unchanged (including without limitation as to liquidated damages) and shall remain in full force
and effect.
5. Counterparts. This Amendment may be executed in counterparts, each of
which shall be deemed an original, and all of which together shall constitute one and the same
instrument and agreement.
IN WITNESS WHEREOF, the Enzian Association and Lionshead have made this
Amendment as of the day, month and year first above written.
STATE OF
ss:
COUNTY OF
ENZIAN ASSOCIATION:
ENZIAN AT VAIL CONDOMINIUM
ASSOCIATION, INC., a Colorado nonprofit
corporation J,
By: 4 ^— -
Job, Peck, Jr.,
The foregoin instrument was acknowledged before me this day of
2013, by 0r %of Peck, Jr. as President of Enzian at Vail Condominium
Association, Inc., a Colorado nonp rporation.
Witness my hand anial seal.
My commission expires:
c4d'vi UvAomv
Public
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CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT
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who proved to me on the basis of satisfactory evidence io
be the person(s) whose name(s) islai;ci subscribed to the
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capacity(ies), and that by his /herir signature(s) on the
instrument the person('s), or the entity upon behalf of
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I certify under PENALTY OF PERJURY under the laws
of the State of California that the foregoing paragraph is
true and correct.
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Signatur
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OPTIONAL
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of this form to another document.
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Title or Type of Document:
Document Date:
Number of Pages:
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Sicner`s Name:
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LIONSHEAD:
LIONSHEAD INN, LLC, a Colorado limited
liability company /
Name: ,
Title:;��SCr�v`-
STATE OF COLORADO )
ss:
COUNTY OF C- c >a, j
The foregoing instrument was acknowledged before me this c' t' day of
2013 by as '
of Lionshead Inn, LLC, a Colorado limited liability company.
Witness my hand and official seal.
My commission expires: J,• r7 s-, z4:,,S-
Notary Public