HomeMy WebLinkAboutTimber Ridge Vail Associates Master LeaseTIMBER RIDGE VILLAGE
and
VAIL ASSOCIATES, INC.
Master Lease
THIS LEASE is made and entered into as of May 1. 2014 (the "Effective Date"), by and between Town of Vail, d/b/a
Timber Ridge Village Apartments ("Lessor") and The Vail Corporation, a Colorado corporation, d/b/a Vail Associates,
Inc. ("Lessee").
Recitals
Lessor is the owner of the Timber Ridge Village Apartments located at 1281 N. Frontage Road Vail, Colorado
81657, ("the Apartments"). Lessee employs large numbers of persons requiring housing of the type afforded by
the Apartments, and desires to lease from the Lessor fifty four (54) of the Apa1·tments together with forty six
( 46) par Icing spaces in order to license those units to certain of its employees or sublet those units to certain other
subtenants. Lessor is willing to lease such units to Lessee for such purpose, on the terms and conditions stated in
this Lease.
1. Lease of Units. In consideration of the payment of the rent and the performance of the covenants in this
Lease, Lessor leases to Lessee, and Lessee takes and leases from Lessor, certain units of the Apartments (each a "Unit'',
and collectively the "Units") as identified on Exhibit A, attached hereto and incorporated herein by reference.
2. Tenn. The initial tem1 of this Lease shall be twenty-four (24) months, commencing on May l, 2014 and
terminating on April 30, 2016, with specific units listed on Exhibit A attached hereto, unless otherwise extended or
terminated.
3. Rent. Lessee shall pay Lessor as rent under this Lease ("Rent"), without right of setoff and regardless of
whether there is in effect a Sublease (as defined below) with respect to any or all units the following monthly amounts:
a. For the fifty four (54) Units leased by Lessee from Lessor pursuant to this Lease and listed as numbers
I through 54 on Exhibit A attached hereto, $1.050.00 per unit per month for a total of $56,700 rent per month.
Rent for each Unit shall be due and payable as a single sum, in advance, on or before 12:00 noon on the first day of each
calendar month during the term of this Lease at the office at the Apartments. In the event any Unit is subject to this Lease
for any partial month, the Rent for that month shall be prorated on a per diem basis. Rent shall include charges for
utilities, as provided in Section 10.
4. Sublease of Units Permitted. Lessee shall be entitled to license it's Units to it's bona fide employees during the
term of their employment by Lessee, or Lessee's other subtenants (collectively, "Subtenants") for rental not greater, than
the aggregate amount of Rent payable under this Lease. Any such arrangement with bona fide employees of Lessee will
be pursuant to an employee license agreement in form and substance reasonably acceptable to Lessor and, in the case of
other subtenants, pursuant to written sublease in all substantive respects identical to Lessor's standard tenant lease and
approved by Lessor (collectively, "Sublease"). The terms of any Sublease will be as Lessee determines to be appropriate
in its discretion (but in no event extending beyond the term of this Lease) and subject to such reasonable qualifications
and restrictions as Lessor from time to time imposes with respect to tenants of the Apartments generally. Without limiting
the generality of the foregoing, Lessee acknowledges that because other Apartments utilize tax exempt funding, certain
requirements for tenancy have been mandated.
5. Possession and Quiet Enjoyment. Upon the payment of Rent herein reserved and upon the performance of all
terms of this Lease, Lessee and any and all Subtenants shall at all times during the initial term and during any Option
Period, peaceably possess and enjoy the leased Units without any disturbance from the Lessor or from any other person
claming through the Lessor.
6. Maintenance and Repairs. Lessee shall notify Lessor and/ or its managing agent, presently Corum Real Estate
Group, of all necessary maintenance and repairs to the structural p011ions of the Apartments, together with the pipes, roof,
heating systems, plumbing and plumbing systems serving any of the common areas and/or individual Units, and all
existing power to the building, any exterior windows, doors, equipment and appliances on or about the common areas and
the individu!!l Units, and Lessor shall be responsible for conducting all such repairs, replacements and maintenance. The
Apa11ments shall be maintained in present or better condition at the sole cost and expense of the Lessor, unless any repairs
or maintenance are directly attributable to and caused by Lessee's 01· any Subtenant's gross negligence. All repairs and
maintenance shall be made promptly, as and when necessary, taking into account the circumstance and priority of the
repair or maintenance and its impact to Lessee's and/or the Subtenants' use of the individual Units and common areas,
Lessor's structural integrity or impact to other units within the building. All such repairs, replacements and maintenance
shall be in quality and class at least equal to the original work. On default of the Lessor in making such repairs,
replacements or maintenance, Lessee may, but shall not be required to make such repairs, replacements or maintenance
for the Lessor's account, and deduct the expense thereof from Lessee's monthly Rent. In the event that repairs are
necessary as a direct result of Lessee's or any Subtenant's gross negligence, Lessee shall be responsible for such repairs.
On default of Lessee in making such repairs, Lessor may, but shall not be required to, make such repairs for the Lessee's
account, and the expense thereof shall constitute and be collectable as additional rent.
7. Late Payment. Rents not paid by 8:00 a.m. on the fifth day of the month in which due shall be subject to an
initial late charge equal to 5% of the total amount due plus $5.00 per day per unit thereafter until paid in full. Lessee shall
pay the prevailing charge for Lessee's fees, and (if adjudicated) treble damages as provided in Colorado law. Lessee
acknowledges that two returned checks will result in cash or money orders being required to pay Rent.
8. Certain Covenants of Lessee and Subtenants. Lessee shall and by the tenns of the Subleases shall cause all
Subtenants to agree to:
a. comply with all reasonable rules and regulations which Lessor may make from time to time for the
protection of the building or the general welfare and comfort of the residents of the Apartments, including those
stated on Exhibit B to this lease, attached hereto and incorporated herein by this reference; provided, however,
that to the extent that any such rules and regulations conflict with the terms herein, the terms of this Lease shall
control;
b. keep the Units in as good order and condition as when the same were entered by Lessee, loss by fire,
01· inevitable accident (except when caused by the gross negligence of Lessee or the Subtenant) or ordinaiy wear
excepted (ordinary wear meaning wear which occurs without Lessee's or Subtenants' negligence, carelessness,
accident or abuse).
c. except as otherwise pe1mitted in this Lease, to sublet no part of a Unit nor assign this Lease or any
Sublease without the express prior written consent of Lessor;
d. neither hold nor attempt to hold Lessor, 01· its agents or service personnel liable for any injury or
damage to person or property either proximate or remote, arising from the acts of Lessee, any Subtenant, any
resident of any Unit, any guest of any such resident, or of any owners or occupants of adjoining property, unless
such inju1y or damage to person or property was a result of Lessor's negligence.
e. allow Lessor or any of its employees to enter any Unit at any time to make emergency repairs, or, upon
reasonable notice to Lessee and the affected Subtenants, to inspect the Unit, or within 30 days prior to the end of the term
of this Lease, to show the Units to prospective tenants.
9. Subordination of Lease. This Lease and each Sublease shall be subordinate to the lien of any existing
indebtedness, and all indebtedness which may be made a lien on the premises in the future, and Lessee shall (and by the
terms of the Subleases shall cause each Subtenant to agree to) execute and deliver such further instrument or instruments
subordinate this Lease to the lien of any such indebtedness as may be desired the holder thereof, and Lessor hereby
appoints (and by the terms of the Subleases shall cause each Subtenant to appoint) Lessor as its, his or her attorney-in-fact
to execute any such instrument on behalf of the Lessee and all Subtenants, such interest being coupled with an interest and
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irrevocable, provided that Lessor has first requested Lessee to execute such an instrument and Lessee has failed to do so
within seven days.
JO. Provision of Utilities. Lessor shall arrange for provision to the Units of electricity, connection to basic cable
television service, water, sewer and trash removal. Lessor shall be solely responsible for the cost and expense of water,
sewer, snow removal, trash removal and recycle. Lessee is solely responsible for the cost of electricity. The individual
Subtenants shall be solely responsible for activating the cable service in Subtenants' name and for the cost and expense of
all cable service fees. In the event of excessive use or waste of any such utility services provided to any Unit, Lessor may
at its option cause such services to be separately metered and if it does so Lessee shall pay the metered amount monthly
(such amounts, "Utility Charges"). Lessor shall fumish heat to the Units during the usual heating season, and such costs
shall be borne by Lessee as electricity costs. Lessor shall not be liable for any claim of damages, rebate or charge of any
kind in case of the intermption of utility or other services to the Units occasioned by accident, failure of power supply or
any other cause whatsoever beyond the control of Lessor.
I 1. Parking. Lessee shall be entitled to fol'ty six ( 46) parking spaces at the Apartments.
12. Damage Deposit. Lessee submitted to Lessor and Lessor has on file security letters in the amount of $77,518
as a "Damage Deposit" for the Units leased to Lessee by Lessor under this Lease. Any other deposits paid by the
Subtenants to Lessee shall be refunded by Lessee, in whole or in part to such Subtenants, within sixty days after
termination of their respective Subleases, provided that: (a) all provisions and conditions of their respective Subleases
have been complied with; (b) such Subtenants have maintained and left the Units occupied by them in good order and
condition as when the same were entered by Lessee, loss by fire, or inevitable accident (except when caused by the
negligence of Lessee or the Subtenant) or ordinary wear excepted (ordinary wear meaning wear which occurs without
Lessee's or Subtenant's negligence, carelessness, accident or abuse); (c) the affected Units have been vacated, and all
keys have been retumed the Lessor. THE DAMAGE DEPOSIT CANNOT BE APPLIED TO THE RENT OR UTILITY
CHARGES UNDER TffiS LEASE OR ANY SUBLEASE BY LESSEE OR ANY SUBTENANT. Damage Deposits
and/or any other deposits may, but are not required to be, deposited into an interest-bearing account by Lessor. Interest, if
any, earned on amounts deposited in any such account shall be the property solely of Lessor. The relevant Damage
Deposit and all other deposits are subject to deduction or forfeiture for unpaid rent, late payments, returned check charges,
damage to a Unit, its contents or its common areas, smoke or stain removal, unreturned keys, administrative charges,
reletting fees, collection costs and cleaning charges. Lessor shall use the Move-in and Condition From, attached to this
Lease as Exhibit C and incorporated herein by this reference, in evaluating damages to each Unit. Lessor shall return the
security letters to Lessee within sixty (60) days after the expiration or termination of this Lease.
13. Holding Over. If after the expiration of this Lease, Lessee or any Subtenants remain in possession of any
Units, with the permission of Lessor but without written modification of this Lease extending the term of this Lease or
modifying the amount of Rent, such possession shall not constitute a renewal of this Lease for all or any pat1 of the term
of this Lease, and Lessee shall be a tenant, arid any Subtenants shall be subtenants or licensees (as applicable), of the
affected Units from month to month at a monthly Rent in utilities Charge payable in advance, equal to 150% of the
monthly Rent and Utilities Charge payable under this Lease for the last month of the term of this Lease, but otherwise
subject to all of the other terms and conditions of this Lease. Notwithstanding the foregoing, if Lessee or any Subtenants
remain in possession of any Units after the expiration of this Lease, and Lessee and Lessor are simultaneously engaged in
good faith negotiations to enter into a new Lease, Lessee's or the Subtenant's possession of the affected Units shall be
month to month at a monthly Rent equal to the rent charged for the previous lease year and subject to the terms and
conditions of this Lease.
14. Default. If Lessee shall be in arrears in the payment of any installment of Rent, Utility Charges, or other
charges or any portion thereof, or in default of any covenants or agreements in this Lease to be performed by Lessee, and
such default shall be uncon·ected for a period of ten ( l 0) days after Lessor has given written notice thereof, of if Lessee
shall become insolvent, shall make any assignment for the benefit of its creditors, shall be unable to pay its obligations as
they become due or if Lessee shall file or there shall be filed with respect to Lessee any petition or order for relief under
the federal bankruptcy Jaws or the bankruptcy or insolvency laws of any other jurisdiction , then an in those events Lessor
may reenter and take possession of any or all of the Units without prejudice to any remedies for arrears of Rent or Utility
Charges or other sums due under this Lease. If Lessor elects to reenter the Units or take possession thereof pursuant to
legal proceedings, Lessor may, without terminating this Lease, terminate all or any of the Subleases to pay and receive
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and collect directly from all Subtenants' respective Subleases. No such reentry or taking possession of any Units by
Lessor shall be construed as an election by Lessor to terminate this Lease or any Sublease unless it gives Lessee and, in
the case of Subleases, the affected Subtenants, thirty (30) days advance written notice of such a termination. If Lessor
repossesses any Units without terminating the relevant Subleases, or terminates any Subleases and relets the affected
Units, Lessee shall pay to Lessor (i) the Rent and Utility Charges and other amounts that would have been payable to
Lessor under this Lease if Lessor's repossession of such Units had not occurred, less (ii) the net proceeds, if any, of any
unterminated Subleases and proceeds from reletting of the Units for which Subleases have been tenninated, after
deducting all of Lessor's expenses in connection with such collection and/or reletting. If this Lease is terminated, Lessee
shall remain liable to Lessee for damages in amount equal to the Rent and Utility Charges and other amounts payable
under this Lease for the balance of the term of this Lease as if this Lease had not been terminated, less the net proceeds, if
any, from any subsequent reletting or any Subleases accepted and recognized by Lessor as direct leases from Lessor to the
Subtenants of the affected Units, after deducting all expenses associated therewith. Lessee shall pay such amounts to
Lessor monthly, on the days on which such sums otherwise would have been payable. The rights and remedies stated in
this Section are cumulative, and do not limit or impair any other right or remedy at law or in equity. If Lessor is in default
of any of its obligations under this Lease, Lessee may terminate this Lease, without penalty; provided, that, Lessee has
provided thirty (30) days written notice to Lessor describing the default, and provided, that, Lessor has failed to remedy
the default within thirty (30) days of receipt of written notice of default by Lessee, provided that, if the nature of the
default is such that it cannot reasonably be remedied within 30 days, and the Lesso1· provides evidence to Lessee
that the default cannot reasonably be remedied within 30 days, then the default shall be remedied as soon as
reasonably practicable, but in any case, within 180 days of the original notice of default.
15. Casualty Loss. If any of the Units are rendered untenable or are damaged or destroyed by fire or other
casualty and if in Lessor's reasonable determination such repairs or rebuilding cannot be substantially completed within
thirty days after the occurrence of such casualty, then (i) this Lease shall terminate only as to the affected Units and all
Rent and Utility Charges for the affected Units shall be payable with respect to the period ending upon the date of such
injury or damage and (ii) Lessor shall thereafter offer Lessee alternative units in substitution for the Units affected by such
casualty loss, and Lessee shall accept such alternative units if and to the extent such alternative units are acceptable to
Lessee. If any of the Units are rendered untenable or are damaged or destroyed by fire or other casualty and Lessor
deter.mines to rebuild or repair such Units, and if in Lessor's determination such repairs or rebuilding can substantially be
completed within thirty days after the occurrence of such casualty, Lessor shall do so with reasonable diligence and this
Lease and the Subleases of the affected Units shall not be affected, except that the Rent and Utility Charges for the
affected Units (or a just and propo11ionate part thereof according to the nature and extent of the damage which has been
sustained) shall be abated until the affected Units have been so repaired and restored. Notwithstanding the foregoing, in
the event that any of the Units are rendered untenable by reason of fire, mold, or any other casualty, Lessee may, in its
sole discretion, terminate this Lease with regard to the affected Units, and Lessee's obligations under this Lease shall be
terminated effective as of the termination date. If the Lease is terminated as to less than all of the Units as provided in this
Section 15, Rent payable by Lessee will be reduced by the per Unit rental amount (in effect at such time) multiplied by the
number of Units with respect to which this Lease has been terminated.
16. Insurance.
a. Lessor's Insurance. During the term of this Lease, Lessor shall provide and keep in force:
(i) Comprehensive general liability insurance to include coverage for bodily injury, property
damage, death and personal injury (employee and contractual liability exclusions deleted), contractual
liability (including coverage for the contractual liability of Lessor for performance of the indemnification
provisions of this Lease); and broad form property damage, with limits of not less than One Million
Dollars ($1,000,000.00) each occurrence combined single limit for bodily injury, property damage and
personal injury and Two Million Dollars ($2,000,000.00) aggregate for bodily ittjury and property
damage. Lessor shall also obtain an umbrella policy with limits not less than Five Million Dollars
($5,000,000.00) over the prima1y policy.
(ii) Property insurance covering the Building and all contents the1·ein which are provided by
Lessor.
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(iii) Fire and extended coverage insurance for all risks, vandalism and malicious mischief,
sprinkler damage, boilers and rental loss with respect to the Prope1ty.
b. Any insurance provided for in this Section 1 S(a) may be maintained by mans of a policy or policies
of blanket insurance, covering additional items or locations or insureds. Lessor shall provide certificates and/or the
declaration pages of the insurance policies required herein to Lessee upon execution of this Master Lease.
c. Lessee acknowledges that Lessor's insurance does not cover the personal property of Lessee, any
Subtenants, or any of their guests. Lessee shall advise Subtenants to purchase insurance coverage for loss to personal
property due to fire, theft, water damage and other unfortunate events, liability coverage, and other appropriate insurance
coverage.
18. Successors and Assigns. This Lease shall be binding on the parties and their permitted successors and assigns.
Except as expressly permitted by this Lease, Lessee shall not assign any of its rights or obligations under this Lease or
sublet any of the Units without the prior written consent of Lessor, such consent not to be unreasonably withheld. Any
assignment of sublease without such prior written consent shall be void.
19. Termination. Either patty may terminate this Lease with or without cause by giving sixty (60) days advance
written notice to the other party at the address provided in Section 21 herein.
20. Notice. Any communication between Lessee and Lessor shall be in writing and shall be deemed sufficiently
given if delivered personally to the Lessee or Lessor or any of their employees or agents, or if sent by certified or
registered United States mail, addressed at the following address:
If to Lessor:
The Town of Vail
75 S. Frontage Road West
Vail, CO 81657
Attn: Town Manager and Town Attorney
With a copy to:
Corum Real Estate Group
600 South Cherry Street. Suite 625
Denver, CO 80246
Attn: Amy Cooley
Ifto Lessee:
Vail Associates, Inc.
390 Jnterlocken Crescent
Broomfield, CO 80021
Attn: Micki Summeril
Vail Resorts Management Company
390 Interlocken Crescent
Broomfield, CO 80021
Attn: LegalNotices@vailresorts.com
21. Contingency: No Debt. Pursuant to Atticle X, § 20 of the Colorado Constitution, any financial
obligations of the Lessor under this Lease are specifically contingent upon annual appropriation of funds
sufficient to perform such obligations. This Lease shall never constitute a debt or obligation of the Lessor
within any statutory or constitutional provision.
22. Governmental Immunity. The Lessor, its officers, and its employees, are retying on, and do not
waive or intend to waive by any provision of this Lease, the monetary limitations or any other rights,
immunities, and protections provided by the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et
seq., as amended, or otherwise available to the Town and its officers or employees
23. Miscellaneous. Lessor retains the unrestricted right to change, alter, abolish or add to any of the
apput1enances of the Units, as may seem best to Lessor, and to dispose of or rent any other portion of the buildings in
which the Units are located as Lessor elects, provided that doing so does not interfe1·e unreasonably with Lessee's or
Subtenants' right hereunder. Lessee has relied solely on the statements contained in this Lease. This Lease cannot be
modified except as agreed in writing by Lessor and Lessee. No assent on the part of the Lessor, expressed or implied, to
Page 5
any breach or any one or more of the covenants or agreements of Lessee shall be deemed or 1aken to be a waiver of any
succeeding or other breach or any continuation of such breach. ·
lN WITNESS WHEREOF, LESSOR and LESSEE have respectively executed this Lease as of the date first set
fo11h above.
LESSOR: LESSEE:
Town of Vall
d/b/a Timber Ridge Village Apartments
Title: _..!.l..wo....a.J....__,_~lioil~~.=:111..__ __
Date: -'/ / :30./ 1'-J
ATI'EST: ATTEST:
By: _____________ _ By: _____ ·-----------
Pnge6
EXHIBIT A
Attached to and forming part of Master Lease R between Town of Vail, cl/b/a Timbe1· Ridge Vil1age
AJ>artments and The Vail Corporation, a Colorado co1·poratiou, d/b/a Vail Associates, Inc.
The following is a list of apartments that Vail Associates, Inc. will be occupying according to the Master Lease:
Unit# Unit#
1 K-1 40 M-5
2 K-2 41 M-6
3 K-3 42 M-7
4 K-5 43 M-8
5 K-6 44 M-9
6 K-7 45 M-10
7 K-8 46 M-11
8 K-9 47 M-12
9 K-10 48 M-13
10 K-11 49 M-14
11 K-12 50 M-15
12 K-13 51 M-16
13 K-14 52 M-17 ~.o.. 14 K-15 53 M-18
15 K-16 54 ~ ?-l--Z... 16 K-17
17 K-18
18 L-1
19 L-2
20 L-3
21 L-4
22 L-5
23 L-6
24 L-7
25 L-8
26 L-9
27 L-10
28 L-11
29 L-12
30 L-13
31 L-14
32 L-15
33 L-16
34 L-17
35 L-18
36 M-1
37 M-2
38 M-3
39 M-4
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EXHIBITB
Attached to and forming part of Master Lease-between Town of Vail, d/b/a Timbe1· Ridge Village
Apartments and The Vail Corporation, a Colorado corporation, <lib/a Vail Associates, Inc.
RULES AND REGULATIONS
Page 8
EXHIBITB
(Attached to and forming part of Master Lease -between The Vall Corpol'atlon, d/b/a Vall Associates, Inc. and Timber
Ridge Affordable Housing Corporation, dlb/n Timber Ridge Village Aprutments)
Prn1>01·ty Rules & Regulntlons
Timber Ridge Villnge Apaa•hnents
Lock Outs -If you lock yolll'self out ·ofyom· unit after hours, you may contact the answering service by phone
at 970-476-6759, who wlli then relay the message to Timber Ridge Village 011-cnll maintenance staff. There
will be n $30.00 charge for after-hours lock outs.
Quiet Hours-Quiet homs m·e between lOpm until Sam, failure to comply may result in eviction. Please report
any excessive noise to the Vail Police Department at 970-479-2200.
Windows -Sto1·m windows and screens must remain in place at all times. Any missing or broken windows or
screens wlll be repail'ed or replaced by Timber Ridge Village staff and charges will be assessed on yom
account.
Lmmcll'y Facilttles -Laundl'y facilities are located on tile west end of the main office building on the upper and
lower levels. Laund1·y fucilities al'e open from Sam until I Opm every day. Please keep laundry room dool's
closed at all times and dispose of all trash in the provided trash receptacles. Washing machine, dryer and coin .
machine malfunctions may be i·eported to MacOmy at 1-800-622-4729. Vending machine mnlftmctlons may be
reported to Alpine Vending at 970-949-1379.
Declcs, Walkways & Stn1l'we1Js -
• Decks, walkways and stainvells may not be used for storage.
• Signs, banners, flags, windsocks nnd poste1·s are not permitted in any of these areas 01· on the exterior of
the bu lldil1gs.
• Drying cir lrnnglng garments, cleaning and drying ofrugs/towels is not permitted.
• Bicycles may not be stored in these a1·eas.
o Doghouses, hammocks, patio enclosures, awnings, sunscreens, tiki torches, silk plants, wind chimes and
trash bags m-e not permitted.
• Ba1·bcx:ue g1'1lls are not pel'mlttecl at any time.
• Satellite dishes must abide by Satellite Dish Addendum.
Dumpsters & Trash-Dumpsters are located throughout the property.
• All trash must be bagged and tiecli no :furniture, or miscellaneous items (car batteries, propane tanks, or
ha2at·dous material, oil, etc.).
• Trash Is not to be placed on patios, walkways, stail'wetls or outside of dumpsters.
• Violation of the above trash poHcies will result in a minimum $20.00 fine per occurrence. Multiple
violations wlll result in a report of Uttering to the local police department.
The following residents have read and understand the above property policies and understand that a vioJatl~n of
any of these policies will result in a lease violation. Multiple lease violations may result In eviction. Prope1ty
Rules & Regulations may be amended at any time.
Page8
EXffiBITC
(Attached to and forming part of Master Lease M between
The Vail Corporation, d/b/a Vail Associates, Inc. and
Timber Ridge Affordable Housing Corporation,
cl/b/a Timber Ridge Village Apartments, elated ____ __,
MOVE-IN AND CONDITION FORM
Page9
Timber Ridge VIiiage Move-In/Move-Out Inspection Agreement
Burners
Drip Pans
Timer-Controls
Oven Racks
Light
Floors
Hood Filter
Counter Top
Sink/Faucets
Drains/Disposal
Dishwasher
Refrigerator
Cabinets/Doors
Shelves/Drawers
Under Sink
Windows
Screens
H20 Heater/Closet
Hall Closet
Apartment Community
Address Apartment#
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
I undelsland that Iii 01SCrepaicies other th!Ml those above will be Ille Resldeors responsibffity IM1d wJI
be deducted from the Security Deposij at the 6me of move oul
Signature of ManagedO.Vner Date Move In
Signature of Manager/Oimer Dale Move Out
Resident Name
Date Returned
Windows
Screens
Closet
Windows
Screens
Closet
Doors
Mirror
Countertop
Basin
Faucets
Bathtub/Shower
Toilet
Towel Rack
arges for cleaning
and minor maintenance
Resident Signature
Resident Sig nature
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
EXHIBITD
Adclitional Occupancy and Coope1·atio11 Tenns for The Vail Corpol'ation d/b/a Vall Associates, Inc
I. A maximum of three (3) occupants will be allowed in each unit that Lessee subleases or licenses to it's
employees dul'ing the term of their employment by Lessee, or Lessee's other Subtenants.
2. Lessee will provide on-site coverage seven days/week during the fall check-in period and during the winter season
for the management of tenant issues in its rented units, including inspections of units to control unauthorized
occupancy.
3. Lessee, will staff maintenance support on site to manage maintenance needs caused by its tenants.
4. Lessor will contract with a third-party vendor for primary snow removal services; Lesseewill provide support with
parking lot snow removal on an as-needed basis.
5. Lessee will support on-site management as needed for tenant issues, and will direct Pinnacle, its property
manager, to collabomte closely with Lessor management to ensure seamless communication and delivery of
service for its tenants as well as effective management of tenant behavior.
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