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Home My WebLink AboutPEC18-0024_Approved Documents_1530126960.pdf Planning& Environmental Commission(PEC) Department of Commu nityDevelopment 75 South Frontage Road West TOWN OF VAIL ACTION FORM Vail,CO 81657 Tel: 970-479-2139 www.vailgov.com Project Name: Vail Marriott Renovation 2018 Application Number: PEC18-0024 Application Type: ExteriorAlteration Date Applied: 05/24/2018 Project Description: Major exterioralteration to allow for the conversion of existing groupsales office to two new accommodation units at the Vail Marriott CONTACTS Contact Type: Applicant Full Name: Mauriello Planning Group(Allison Kent) Address: Po Box 4777 2205 Eagle RanchRd Eagle, CO 81631 Phone: 9703908530 Contact Type: Property Owner Full Name: DIAMONDROCK VAILOWNERLLC DIAMONDROCK HOSPITALITY CO Address: Phone: None Project Address: 715 W LIONSHEAD CIR (210107217001) (210107217001) Job Site Location: No Legal Description: Subdivision: WEST DAYSUBDIVISION Lot: No Data Block: Data Parcel Nu tuber: 210107217001 BOARDS/STAFF ACTION Motion By: Stockmar Action: Approved Second By: Gillette Vote: 6-0-0 Date: 06/25/2018 Conditions: - Approval of this project shall lapse and become void two (2) years following the date of final approval, unless a building permit is issued and construction is commenced and is diligently pursued toward completion. - No changesto these plans maybe made without the written consentof Town of Vail staffand/orthe appropriate review committee(s). - Planning and Environmental Commissionapproval shall not become valid for 20 days following the date of approval pursuant to Section 12-3-3, Appeals, Vail Town Code. - The applicant shall mitigate the impacton employee housing of this development in accordance with the provisions of Chapterl2-23, Commercial Linkage,Vail Town Code priorto the issuance of any building permit. - The Transportation ImpactFee shall be paid to the Townof Vail by the applicant priorto issuanceof any building permit. Planner: Jonathan Spence VAIL SPA CONDO ASSOC ENZ IAN AT VAIL CONDO ASSOC MAURIELLO PLANNING GROUP EAST WEST RESORTS GEOFFREY WRIGHT PO BOX 4777 PO BOX 5480 DESTINATION RESORTS EAGLE,CO 81631 AVON,CO 81620 610 W.LIONSHEAD CIR VAIL,CO 81657 CARALVA LION HOLDINGS LLC MONTANEROS CONDO ASSOC LION SQUARE CONDO ASSOC 701 W LIONSHEAD CIR UNIT E602 WVR COLORADO LLC WILLIAM ANDERSON VAIL,CO 81657-5070 641 W.LIONSHEAD CIR 660 W.LIONSHEAD PLACE VAIL,CO 81657 VAIL,CO 81657 BENVAIN 182 LLC LION SQUARE NORTH CONDO ASSOC LION SQUARE PHASE II AND III CONDO 19428 PRESIDENTIAL WAY BILL ANDERSON ASSOC MIAMI, FL 33179-6446 660 W.LIONSHEAD PLACE WILLIAM ANDERSON VAIL,CO 81657 660 W.LIONSHEAD PLACE VAIL,CO 81657 BRAUBUR REAL ESTATE THE LION LLC ANTLERS CONDO ASSOC GORE CREEK PLACE HOMEOWNERS 430 GRAND BAY DR APT 806 ASSOC KEY BISCAYNE, FL 33149-1938 680 LIONSHEAD PL ATTN.PARK DATSKO VAIL,CO 81657-5212 728 W.LIONSHEAD CIR VAIL,CO 81657 INVERALL INC WDL VAIL CONDOMINIUM ASSOC LION VAIL LCC 15365 MEADOW WOOD DR PO BOX 959 PO BOX 3149 WELLINGTON,FL 33414-9006 AVON,CO 81620 VAIL,CO 81658-3149 FAMAT LION LLC MAFITA LLC KREYCIK,JONATHAN R.&ALLYSON K. 701 W LIONSHEAD CIR UNIT E209 701 W LIONSHEAD CIR UNIT W205 1094 BLFFALO RIDGE RD VAIL,CO 81657-5070 VAIL,CO 81657-5070 CASTLE ROCK,CO 80108-8189 CAMILIO LLC RJM INVESTMENTS LLC TRASMONTE 600 CASA 3 BOSQUES DE REFORMA 2233 NJ2 SANTE FE NL6L LLC MEXICO CITY 11000 CONONIA SAN MATEO TLALTENANGO REFORMA 2655#2 MEXICO DELEGACION CUAJIMALPA 05600 LOMAS ALIAS DF CP 11920 MEXICO MEXICO BORN FREE MANAGEMENT INC LIONVAIL E307 LLC DODD,ROBERT&JULIE BRUCE CHAPMAN 100 BARCLAY ST APT 13D 633 N VICTORIA PARK RD PO BOX 6500 NEW YORK,NY 10007-0110 FORT LAUDERDALE,FL 33304-3432 VAIL,CO 81658-6500 BDN PROPERTIES LP PHILLIPS VAIL LLC DAVID J.AYRE REVOCABLE TRUST 675 3RD AVE FL 26 150 W 56TH ST APT 4103 7087 VERDE WAY NEW YORK,NY 10017-5724 NEW YORK,NY 10019-3837 NAPLES,FL 34108-6517 TAYLOR CQT VALLEY COLORADO LLC PAREMA REAL ESTATE LLC VAIL REAL ESTATE PROPERTY LLC 2600 E HALLANDALE BEACH BLVD 216 W VILLAGE BLVD STE 302 42 GRAND BAY ESTATES CIR APT 1601 LAREDO,TX 78041-2322 KEY BISCAYNE,FL 33149-1930 HALLANDALE,FL 33009-4867 KUSHNER,SANDRA R.&LOUIS BOSELLI FAMILY PTNSHP ARTINIAN,RONALD J. &KARIN S. IN CARE OF NAME LOUIS KUSHNER 790 NIWOT RIDGE LN 230 AUGUSTA CT 310 GRANT ST FL 3 LAFAYETTE,CO 80026-3426 ROSLYN,NY 11576-3053 PITTSBURGH,PA 15219-2272 VAIL VALLEY RENTALS LLC FINK,DAVID H. &AMY L. DIAMONDROCK VAIL OWNER LLC 140 FAIRFAX ST 3630 PINE HILL CT DIAMONDROCK HOSPITAUTY CO DENVER,CO 80220-6332 W BLOOMFIELD,MI 48323-3577 2 BETHESDA METRO CTR STE 1400 BETHESDA,MD 20814-5390 CHOCOLATE CUP LLC CAPLA,TOMAS J. &JUDITH J. SCHNELL,PAUL&MADELEINE D. 140 FAIRFAX ST 2500 JOHNSON AVE APT 15D 340 MADISON AVE FL 21 DENVER,CO 80220-6332 BRONX,NY 10463 4943 NEW YORK,NY 10173-0401 FILES,JEFF P. FLEISCHER,WILLIAM E.&SHARON K. 11 STALEY PL 1645 CAMBRIDGE DR DURHAM,NC 27705-2421 LEBANON,PA 17042-7500 BILLOTTI,PATRICIA GJELLSTAD,ROGER&RENAE 18 POWDER HILL PO BOX 805 SADDLE RIVER,NJ 07458-3215 STANLEY,ND 58784-0805 INFINITY HOLDINGS AT VAIL LLC 7400 E CRESTLINE CIR 125 GREENWOOD VILLAGE,CO 80111-3654 PLANNING FEE RECEIPT TOWN OF VAIL Case # PEC18-0024 Date Printed: 06/27/2018 TOWN OF VAIL - FEES RECEIPT Planning Summary Type: Planning & Environmental Commission (PEC) Submittal Date: 05/24/2018 Subcases: Exterior Alteration Bond Expire D ate: Descriptionof Work: Major exterior alteration to allow for the conversion of existing group sales office to two new accommodation units at the Vail Marriott Property Information Address: 715 W LIONSHEAD CIR(210107217001) Tax ID: 210107217001 Owner: DIAMONDROCK VAIL OWNER LLC DIAMONDROCK HOSPITALITY CO Contacts Contact Type: Applicant Company Name: Mauriello Planning Group Full Name: Allison Kent Address: Po Box 4777 2205 Eagle Ranch Rd Eagle, CO 81631 Email: allison@mpgvail.com Contact Type: Property Owner Full Name: DIAMONDROCK VAIL OWNER LLC DIAMONDF Address: Planning Fees Fee Information Account Amount Postage Fee 001-0000.31947.00 $49.41 Payment Information D ate Paid Payment Type Amount Postage Fee 06/27/2018 Credit Card $49.41 Paid By: -Notes:visa-allison kent FEE TOTAL $49.41 AMOUNT PAID $49.41 BALANCE DUE $0.00 75 South Frontage Road West,Vail,Colorado 81657 06/27/2018-1:11:26 PM-Generated by:cgodfrey 1/ 1 TOWN OFVAIL JOINT PROPERTY OWNER WRITTEN APPROVAL LETTER The applicant must submit written joint property owner approval for applications affecting shared ownership properties such as duplex, condominium, and multi-tenant buildings. This form, or similar written correspondence, must be com- pleted by the adjoining duplex unit owner or the authorized agent of the home owner's association in the case of a con- dominium or multi-tenant building.All completed forms must be submitted with the applicants completed application. I, (print name) Jonathan Brownlee , a joint owner, or authority of the association, of property located at 715 West Lionshead Circle , provide this letter as written approval of the plans dated 5-29-18 which have been submitted to the Town of Vail Community Development Department for the proposed improvements to be completed at the address not- ed above. I understand that the proposed improvements include: The conversion of back-of-house sales office to 2 new accommodation units(hotel rooms). I understand that modifications may be made to the plans over the course of the review process to ensure compliance with the Town's applicable codes and regulations; and that it is the sole responsibility of the applicant to keep the joint property owner apprised of any changes and ensure that the changes are acceptable and appropriate. Submittal of an application results in the applicant agreeing to this statement. 5/24/2018 Signat - Date Jonathan Brownlee General Manager and HOA Board Member Print Name Title/Position JB I/We authorize any and all changes submitted to the Town in reference to the above mentioned project. (Initials) I/We waive all rights to notification and review of submitted changes. JB I/We do not authorize any changes submitted to the Town in reference to the above mentioned project. (Initials) I/We wish to receive notifications and reviews of submitted changes. _. -.. : � ":1,1114.,i,q 191 b!, __ .•r-.. 0. 1.11..."-''''.1--11•-::, 41 f f IIII��'r� I'lllllls ��u'! r„ _ a _ a ■ r maIr �� ® � c ii, r :, — ASF1., -='!=s? 4 n d gr Pr . s Y6.kf t4 - 4.:11;.".. . .11illM1111.- _ n# ,- II :: ,e 1 ![ 11' ,.! i- !I.d.t1 _ ,' 171.1 1°k•� -- i d4 j'' ,. 1 y 1 `, �+ 11:11 , 11 .ni ..� •SP1 1a �4Ft r T .41 , , ,,,„,,,, ,.. - ,_,,,,,:_ , ,,., ,_,..,,„ ..,. ,-,,,,--.-_,„ Y 0 1 1 1 w' � •FiV '1. 71 ii = • .." -- , r ... r, - _ Vail Marriott Mountain Resort Application fora Major Exterior Alteration in the Lionshead Mixed Use -1 Zone Districtto allow for the Conversion of Sales Office to Accommodation Units Submitted: May 29, 2018 u I 'lel Mauriello Planning Group 1. Introduction The Vail Marriott Mountain Resort, located at 715 W. Lionshead Circle, is requesting a Major Exterior Alteration to allow for the conversion of an area of existing group sales office to two new accommodation units for a total of 320 accommodation units on the property. mg .: - Though there are no exterior modifications , �, _ __ with the request,the Vail Town Code requires ' - IT', a Major Exterior Alteration application for f`the addition of accommodation units. ":;(- - - --_- __ Accommodation units are a permitted use on r, - __ the second floor and the proposed - - is ' _ _ij -- accommodation units are located on the ' -17-- i- rii. ' .�M ..rr ' second floor of the building. I I I I I _ The Vail Town Code defines a Major Exterior Alteration as follows: 12-7H-7 B. Major Exterior Alteration: The construction of a new building or the alteration of an existing building -1 which adds additional dwelling units, � 4'accommodation units, fractional fee _ miL - _ j __ club units, timeshare units, any y.4 project which adds more than one a tail' . � I thousand (1,000) square feet of ia i1_ ' commercial floor area or common F 7Ili space, or any project which has -% -,Fit i► phi substantial off site impacts (as litill,o determined by the administrator) 9 shall be reviewed by the planning ' and environmental commission as a _ major exterior alteration in accordance with this chapter and South elevation of the Vail Marriott. Location of the section 12-3-6 of this title. space to be convertedto two accommodation units. The following floor plans show the existing office space configuration and how the space will be convertedto two accommodation units: The proposed addition of two hotel rooms will increase lodging revenues to the owner and generate additional tax revenues to the Town with little overall negative impact to the community. Parking for the additional hotel rooms can easily be accommodated given the surplus parking available to the Marriott and employee housing impacts are being appropriately mitigated through the fee-in-lieu program. 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I A1.1 .'^-vot=0 IP1cjo -0 :111-,-- ay)F, :rait,Iit[onI IKTitel [-rr Iiif'i. :,;fl ay 1Vu0` fie ICs I�`��bk,_a-Z�� ` ti'a:L*.ee1=4'� =aik 1� _ fis�u� ,� ,E �0\,1 �1\\�1\,111 ,1\C �►\i\\\,1�\\� �I� A w_1 ----- 41414p11 ' m•.s RN ®it-7" -+1,11 V i �k N,i .1 �1 � I ��1�\II S D 16" ml — - 4 v- I' �I LL . 11�L 4 1;\'‘,TA . .4 , --= .-- k ocw-v--iv li 1‘ klak1.171.\HL ° 7%7,4,!,1.4,N1ISN-NVI ;-LS.TIL tik11,1*"Ntl W2 1 I I— EL \11�11�11�,rk ��Ilrllll�� m v01.1111 1 I I_ G " �11,11N11\�11111�1111�. ,\\\w\\\I �� 'I!a��' 1�11�1�� \IIIIIIIIIII� ii��l 'II �. _ ....._...,,„ § 1-,! 1 __ 111.111111`\011 E11E11 •R. 11C.jl :u a 0 NEW GUEST ROOMS .ED . P 8 KEY PLAN—LEVEL I CENTER A l.O Vail Marriott Mountain Resort May 2018 3 2. Background The Marriott site was annexed into the Town of Vail in August of 1969. According to Eagle County records, the existing building was originally constructed in 1983. The property was originally zoned Commercial Core 2 District and was rezoned to Lionshead Mixed Use 1 District in 1999. The west wing of the hotel suffered a fire in November 2000 that effectively destroyed the upper floors of the hotel. The conference center below and most of the center wing were largely unaffected. The owner at the time, Host Marriott, gutted the entire west wing and rebuilt it with new guest room layouts but stayed largely within the previous bulk and mass of the building, as was defined by the preexisting steel structure.Reconstruction was completed in 2002. Various modifications have been made to the structuresince the reconstruction. Most recently, a Major Exterior Alteration was approved in 2014, allowing for an increase of accommodation units to 324. However, this project was never constructed and the approval has since expired. The Marriott currently has 318 accommodation units, 35 dwelling units, along with existing retail, restaurant,spa, and conferencefacilities. It currently has 297 parking spaces available to serve its uses. It is the largest hotel in Vail, with Hotel Talisa being the second largest with 285 accommodation units. The property is unique in that It West Day Lot Assi spans 2 lots in different subdivisions. Subdivision Vivo ge The western lot is Lot 1 of the West Day Lot Subdivision. The lir 0 development potential of this otlMarriott subdivision is split among the y_ Marriott property, Ritz property and Lot 2 The Ritz the Gore Creek Place property. In Gfeekpvace addition, there is shared parking \,00G°re amongst these 3 properties. The , Vail Marriott eastern lot is the Mark Lodge property which is not part of the West Day Lot Subdivision. In 2006, in Parcel Map showing the West Day Lot Subdivision. For zoning conjunction with the West Day Lot purposes,the West Day Lot Subdivision is treated as one Subdivision,the parties and the Town development site. However, a portion of the Marriott is agreed to the "West Day Lot/ located outside the subdivision. Marriott Hotel/Gore Creek Place Approved Development Plan/Development Allocations. This document outlines the development standards and requirements,along with future development potential, for each of the properties. The Marriott property, including Lot 1 and the Mark Lodge property are being treated as one "site"as it always has been in the past. Vail Marriott Mountain Resort May 2018 4 There is some discrepancy in the number of existing accommodation units located within the Marriott. With the project in 2014, the supporting information indicates there were 315 existing accommodation units (they were proposing an increase to 324). However, there are currently 318 accommodation units, according to the management of the hotel. The 4 room discrepancy is likely due to the use of 4 rooms for group hospitality that were not included in the 2014 count of hotel rooms. These units have now been accounted for with this application. Vail Marriott Mountain Resort May 2018 5 3. Zoning Analysis Proposed changes from the existing project are indicated in red. Address: 715 West Lionshead Circle Legal Description: Lot 1,West Day Subdivision and Mark Lodge Parcel Zoning: Lionshead Mixed Use-1 Land Use Designation: Lionshead Redevelopment Master Plan Allowed/Required Exiting Proposed Setbacks 10 ft./30 ft.on n. 10 ft. property line No Change Height-max 82.5 ft. 80.6 ft. No Change Height-average 71 ft. 59 ft. No Change Density 60 DU 35 DU No Change-DU Unlimited AU 318 AU 320 AU GRFA +714 sq.ft. 247,342 sq.ft. 149,669 sq.ft. =150,383 sq.ft. Site Coverage 65,820 sq.ft. 153,684 sq.ft. No Change Landscape Area 15,175 sq.ft. 17,175 sq.ft. No Change Parking 268 297 spaces No change The 2006 West Day Lot/ Marriott Hotel/Gore Creek Place allocated the development potential and existing requirementsfor each lot within the West Day Lot Subdivision. The Vail Marriott is currently required to have 268 parking spaces. There are currently 60 spaces on the Marriott property, and 237 deeded spaces within the Ritz structure,for a total of 297 spaces allocated to the Marriott. There is currentlya surplus of 29 spaces. The parking analysis for the proposed 2 additional units is provided in the table below: Use Calculation Multi-Use Reduction Parking Required Accommodation Units(2) 0.7 spaces per accommodation unit 10% 1.26 As a result,followingthe addition of the 2 accommodation units, there remains a credit of 27.74 spaces. The addition of two accommodation units is subject to the recently adopted Transportation Impact fee based on the followingformula: 714 S F* $5.27/S F= $3,762.78 2 AU's* $5066/AU= $10,132 Net New Fee= $6,369.22 Vail Marriott Mountain Resort May 2018 6 4. Employee Housing Plan Section 12-23-8: Administration, of the Vail Town Code requires the submittal of an Employee Housing Plan for all projects subject to development review. A. Calculation Method: The calculation of employee generation, including credits if applicable, and the mitigation method by which the applicant proposes to meet the requirements of this chapter; Applicant Analysis: Commercial Linkage Requirement: Formula Employees Mitigation Employeesto Generated Rate be Housed • New AU 2 au 0.6 employees per au 1.2 20% 0.24 Fee: (Rate of$177,733 * employees to be housed) $42,655.92 The applicant is proposing fee-in-lieu to meet this requirement. Based on the current adopted fee of $177,733 per employee to be housed, the total fee required is $42,655.92 and the applicant will be responsible to pay the fee at building permit. B. Plans: A dimensioned site plan and architectural floor plan that demonstrates compliance with section 12-23-3,"Size And Building Requirements",of this chapter; Applicant Analysis: A dimensioned site plan and architectural floor plan has been provided with this submittal. C. Lot Size: The average lot size of the proposed E HUs and the average lot size of other dwelling units in the commercial development or redevelopment,if any; Applicant Analysis: This is not applicable to this application. D. Schedules:A time line for the provision of any off site E HUs; Applicant Analysis: This is not applicable to this application. E. Off Site Units: A proposal for the provision of any off site EHUs shall include a brief statement explaining the basis of the proposal; Applicant Analysis: This is not applicable to this application. F. Off Site Conveyance Request: A request for an off site conveyance shall include a brief statement explaining the basis for the request; Vail Marriott Mountain Resort May 2018 7 Applicant Analysis: This is not applicable to this application. G. Fees In Lieu: A proposal to pay fees in lieu shall include a brief statement explaining the basis of the proposal;and Applicant Analysis: Because the requirement is to mitigate for 0.42 employees, the applicant is proposed to pay fees in lieu as is allowed by Section 12-23-6 B. This section states: "...the choice of method(s) used to mitigate the employee housing requirements of this chapter shall be at the sole discretion of the applicant." H. Written Narrative: A written narrative explaining how the employee housing plan meets the purposes of this chapter and complies with the town's comprehensive plan. Applicant Analysis: Section 12-23-1: Purpose and Applicability, of the Vail Town Code provides the purpose of the Commercial Linkage Requirements: The purpose of this chapter is to ensure that new commercial development and redevelopment in the town provide for a reasonable amount of employee housing to mitigate the impact on employee housing caused by such commercial development and redevelopment. The mitigation rates were established by the Town of Vail Employee Housing Nexus study. These rates are based on a survey of various properties in mountain communities. The Town Vail Land Use Plan offersthe following goals with regard to employee housing: 5.3 Affordable employee housing should be made available through private efforts, assisted by limited incentives, provided by the Town of Vail, with appropriate restrictions. 5.5 The existing employee housing base should be preserved and upgraded. Additional employee housing needs should be accommodated at varied sites throughout the community. Vail Marriott Mountain Resort May 2018 8 5. Criteria for Review The Lionshead Mixed Use-1 Zone District does not supply criteria for review for a Major Exterior Alteration. However, it does provide fora "compliance burden." 12-7H-8: COMPLIANCE BURDE N: It shall be the burden of the applicant to prove by a preponderance of the evidence before the planning and environmental commission and the design review board that the proposed exterior alteration or new development is in compliance with the purposes of the Lionshead mixed use 1 district, that the proposal is consistent with applicable elements of the Lionshead redevelopment master plan and that the proposal does not otherwise have a significant negative effect on the character of the neighborhood, and that the proposal substantially complies with other applicable elements of the Vail comprehensive plan. A. Purpose of the LMU-1 Zone District Our Analysis: The Lionshead Mixed Use 1 zone district was created in 1999, as the implementation phase of the Lionshead Redevelopment Master Plan. The zone district rezoned all Lionshead properties from Commercial Core 2 to LMU-1. It intended to create incentives for properties to redevelop. The purpose of the LMU-1 zone district is as follows: The Lionshead mixed use 1 district is intended to provide sites for a mixture of multiple- family dwellings, lodges, hotels,fractional fee clubs,timeshares,lodge dwelling units, restaurants, offices,skier services, and commercial establishments in a clustered, unified development. Lionshead mixed use 1 district, in accordance with the Lionshead redevelopment master plan, is intended to ensure adequate light,air,open space and other amenities appropriate to the permitted types of buildings and uses and to maintain the desirable qualities of the zone district by establishing appropriate site development standards. This zone district is meant to encourage and provide incentives for redevelopment in accordance with the Lionshead redevelopment master plan. This zone district was specifically developed to provide incentives for properties to redevelop. The ultimate goal of these incentives is to create an economically vibrant lodging,housing, and commercial core area. The incentives in this zone district include increases in allowable gross residential floor area,building height,and density over the previously established zoning in the Lionshead redevelopment master plan study area. The primary goal of the incentives is to create economic conditions favorable to inducing private redevelopment consistent with the Lionshead redevelopment master plan. Additionally, the incentives are created to help finance public off site improvements adjacent to redevelopment projects. With any development/redevelopment proposal taking advantage of the incentives created herein, the following amenities will be evaluated: streetscape improvements, pedestrian/bicycle access, public plaza redevelopment, pub licart,roadwayimprovements, and similarimprovements. Vail Marriott Mountain Resort May 2018 9 As indicated in this purpose statement, the intent of the Lionshead Mixed Use 1 zone district is to provide sites for a mix of multiple-family dwellings, lodges, hotels, etc. It was specifically designed to provide incentives for redevelopment, with an overriding goal to create vibrant lodging. As a result,accommodation units are encouraged as they do not count towards the density limitation. The addition of the 2 new accommodation units complies with the intent of the zone district and complies with the development standards of the district. B. Lionshead Redevelopment Master Plan Compliance Our Analysis: The Lionshead Redevelopment Master Plan was adopted by the Town of Vail on December 15, 1998. It is a guide for property owners proposing to undertake development or redevelopment of their properties and the municipal officials responsible for planning public improvements. The Lionshead Redevelopment Master Plan (LRMP)sets out recommendations for the entire Lionshead area, provides detailed plan recommendations for specific areas, and outlines site design and architectural design guidelines, and then provides specific development standards that are implemented through the Lionshead Mixed Use-1 zone district. The Lionshead Redevelopment Master Plan was adopted a few years before the fire at the Marriott. As a result, many of the site specific recommendations for the Marriott were implemented with the rebuilding of the property, along with the subsequent development of the Ritz and Gore Creek Place properties. Below is the language from the LRMP that is applicable to the Marriott and this application specifically: Section 2.3 Policy Objectives provides the six policy objectives of the Lionshead RedevelopmentMaster Plan. Policy 2.3.3 specifically outlines the goal of increasing the number of "live beds" in Lionshead: 2.3.3 Stronger Economic Base Through Increased Live Beds In order to enhance the vitality and viability of Vail, renewal and redevelopment in Lionshead must promote improved occupancy rates and the creation of additional bed base("live beds"or "warm beds")through new lodging products. Live beds and warm beds are best described as residential or lodging rooms or units that are designed for occupancy by visitors, guests,individuals, or families on a short term rental basis. In order to improve occupancy rates and create additional bed base in Lionshead, applications for new development and redevelopment projects which include a residential component shall provide live beds in the form of accommodation units, fractional fee club units, lodge dwelling units, timeshare units, attached accommodation units (i.e, lock-off units), or dwelling units which are included in a voluntary rental management Vail Marriott Mountain Resort May 2018 10 program and available for short term rental.Further, it is the expressed goal of this Plan that in addition to creating additional bed base through new lodging products, there shall be no net loss of existing live beds within the Lionshead Redevelopment Master Plan study area. 3.11 Economic Conditions The third Lionshead policy objective adopted by the Vail Town Council states a desire for a "stronger economic base through increased live beds." This policy objective recognizes that a large percentage of the Town of Vail's operating budget comes from sales tax revenue. Tax revenue is derived from retail and commercial sales and, in a resort environment, the primary source of retail revenue is the destination visitor. 4.13 Live Beds The maintenance, preservation, and enhancement of the live bed base are critical to the future success of Lionshead and as such, special emphasis should be placed on increasing the number of live beds in Lionshead as the area undergoes redevelopment. The Lionshead area currently contains a large percentage of the Town's overall lodging bed base. T he bed base in Lionshead's consists of a variety of residential and lodging products including hotels, condominiums, timeshares and hybrids of all three. The vast majority of live beds in Lionshead are not accommodation units in hotels, but instead, in dwelling units in residential condominiums such as the Vail 21, Treetops, Antlers Lodge, Lion Square Lodge, Lifthouse Lodge, Landmark Tower and Townhomes, Lionshead Arcade, and Montaneros, all of which have some form of rental/ property management program that encourages short term rental of dwelling units when the owners are not in residence. It has been the experience in Lionshead that condominium projects which include a voluntary rental management program have occupancy rates which exceed the occupancy rate of hotel products, and therefore tend to provide more live beds and produce more lodging tax revenues to the Town. Applications for new development or redevelopment which maintain, preserve, and enhance the live bed base in Lionshead have a significantly greater chance of approval in the development review process than those which do not. 5.13 T heMarriott With approximately 320 rooms, the Marriott is the largest supply of hot bedsin Lionshead. The single largest structure in Lionshead, it is also very visible, especially from the west. It is consequently a high priority renovation project, and all reasonable measures should be taken by the Town of Vail to encourage and facilitate its enhancement. As indicated in the Lionshead Redevelopment Master Plan, one of the overriding goals is to provide additional live beds at every opportunity. In this case, no exterior modifications are necessary,no hotel amenities are lost, and adequate parking exists to Vail Marriott Mountain Resort May 2018 11 serve the units. As a result,the addition of two accommodation units complies with the Lionshead Redevelopment Master Plan. C. Character of the Neighborhood Our Analysis: This neighborhood of o e "- -1`�� Lionshead has undergone `� `� �"�� \ `- The Lion • --r ' , vast and exciting changes -r- q 'r � � 1 _ . ,' �j • over the past few years. Both , the Antlers and the Vail `yf , ; ' Marriott were early0 71_144 .. • `— Enzian �� r a redevelopment projects % 1• ,. A • ,. -y` Montaneros spurred on by the adoption , • ! 1.12 Vail should accommodate most of the additional growth in existing developed areas(infill areas). 3.1 The hotel bed base should be preserved and used more efficiently. 4.2 Increased density in the Core areas is acceptable so long as the existing character of each area is preserved through implementation of the Urban Design Guide Plan and the Vail Village Master Plan. Now over 30 years old, the Town of Vail Land Use Plan is outdated in general, but many of the concepts of the plan are applicable to development today. The addition of two accommodation units to the Marriott helps to further these goals as outlined in the Vail Land Use Plan. Vail Marriott Mountain Resort May 2018 13 6. Adjacents VAILSPACONDOASSOC THE LION OWNERS EASTWESTRESORTS PO BOX 5480 LION VAIL LCC AVON,CO 81620 PO BOX 3149 VAIL,CO 81658-3149 ENZIAN AT VAIL CONDO ASSOC GEOFFREYWRIGHT BRAUBUR REAL ESTATE THE LION LLC DESTINATION RESORTS 430 GRAND BAY DR APT 806 610 W.LIONS HEADCIR KEY BISCAYNE, FL 33149-1938 VAIL,CO 81657 INVERALLINC MONTANEROS CONDO ASSOC 15365 MEADOW WOOD DR WVR COLORADO LLC WELLINGTON,FL 33414-9006 641 W.LIONS HEADCIR VAIL,CO 81657 MAFITA LLC 701 W LIONS HEADCIR UNIT W205 LION SQUARE CONDO ASSOC VAIL,CO 81657-5070 WILLIAMANDERSON 660 W.LIONS HEADPLACE FAMAT LION LLC VAIL,C0 81657 701 W LIONS HEADCIR UNIT E209 VAIL,CO 81657-5070 LION SQUARE NORTH CONDO ASSOC BILLANDERSON KREYCIK,JONATHAN R.&ALLYSON K. 660 W.LIONS HEADPLACE 1094 BUFFALO RIDGE RD VAIL,CO 81657 CASTLE ROCK,CO 80108-8189 LION SQUARE PHASEll AND III CONDO ASSOC RJM INVESTMENTS LLC WILLIAMANDERSON REFORMA2233 NJ2 660 W.LIONS HEADP LACE MEXICO CITY 11000 VAIL,CO 81657 MEXICO ANTLERS CONDO ASSOC CAMILIOLLC 680 LIONS HEADPL TRASMONTE600 CASA3 BOSQUESDE SANTE FE VAIL,CO81657-5212 CONONIA SAN MATEOTLALTENANGO DELEGACION CUAJIMALPA 05600 GORE CREEK PLACE HOMEOWNERSASSOC MEXICO ATTN.PARK DATSKO 728 W.LIONS HEADCIR DODD,RO BERT&JULIE VAIL,CO 81657 633 N VICTORIA PARK RD FORT LAUDERDALE, FL 33304-3432 WDL VAIL CONDOMINIUM ASSOC PO BOX 959 NL6L LLC AVON,CO 81620 REFORMA2655#2 LOMASALTAS DF CP 11920 MEXICO Vail Marriott Mountain Resort May 2018 14 MARK LODGE OWNERS LIONVAIL E307 LLC 100 BARCLAY STAPT 13D KUSHNER,SANDRAR.& LOUIS NEW YORK,NY 10007-0110 IN CARE OF NAME LOUIS KUSHNER 310 GRANT STFL 3 BORN FREE MANAGEMENT INC PITTS BURGH,PA 15219-2272 IN CARE OF NAME BRUCE CHAPMAN PO BOX 6500 BOSELLI FAMILY PTNS HP VAIL,CO 81658-6500 790 NIWOT RIDGE LN LAFAYETTE,CO 80026-3426 BDN PROPERTIES LP 675 3RD AVE FL 26 VAIL VALLEY RENTALS LLC NEW YORK,NY 10017-5724 140 FAIRFAX ST DENVER,CO 80220-6332 PHILLIPS VAIL LLC 150 W 56TH STAPT4103 FINK,DAVID H. &AMY L. NEW YORK,NY 10019-3837 3630 PINE HILL CT W BLOOMFIELD, MI 48323-3577 DAVIDJ. AYRE REVOCABLE TRUST 7087 VERDE WAY CHOCOLATE CUP LLC NAPLES,FL 34108-6517 140 FAIRFAX ST DENVER,CO 80220-6332 TAYLOR CQT VALLEY COLORADO LLC 2600 E HALLANDALE BEACH BLVD APT 1601 CAPLA,TOMASJ. &JUDITH J. HALLANDALE, FL 33009-4867 2500 JOHNSON AVE APT 15D BRONX,NY 10463-4943 PAREMA REAL ESTATE LLC 216 W VILLAGE BLVD STE302 FILES,JEFF P. LAREDO,TX 78041-2322 11 STALEY PL DURHAM,NC 27705-2421 VAIL REAL ESTATE PROPERTY LLC 42 GRAND BAY ESTATES CIR FLEISCHER,WILLIAM E.&SHARONK. KEY BISCAYNE, FL 33149-1930 1645 CAMBRIDGE DR LEBANON,PA 17042-7500 CARALVA LION HOLDINGS LLC 701 W LIONS HEADCIR UNIT E602 BILLOTTI, PATRICIA VAIL,CO 81657-5070 18 POWDER HILL SADDLE RIVER,NJ 07458-3215 BENVAIN 182 LLC 19428 PRESIDENTIAL WAY GJELLSTAD, ROGER& RENAE MIAMI, FL 33179-6446 PO BOX 805 STANLEY, ND 58784-0805 INFINITY HOLDINGS ATVAIL LLC 7400 E CRESTLINE CIR 125 GREENWOOD VILLAGE,CO 80111-3654 Vail Marriott Mountain Resort May 2018 15 SCHNELL,PAUL& MADELEINE D. 340 MADISONAVE FL 21 NEW YORK,NY 10173-0401 DIAMONDROCK VAIL OWNER LLC IN CARE OF NAME DIAMONDROCK HOSPITALITY CO 2 BETHESDA METRO CTR STE 1400 BETHESDA, MD 20814-5390 ARTINIAN,RONALDJ. &KARIN S. 230 AUGUSTACT ROSLYN, NY 11576-3053 Vail Marriott Mountain Resort May 2018 16 1 PREVENT FRAUD -Please remember to calla member of our closing team Title L tle Awhen initiating a wire transfer or providing wiring instructions. GUARANTEE COMPANY �.f51'7CE li�-^ Customer Distribution Our Order Number: ABC50050675 Date:05-21-2018 Property Address: 720 W LIONSHEAD CIR AND 714 LIONSHEAD PL,VAIL,CO 81657 For Title Assistance SCOTT BENNETTS 5975 GR EENWOOD PLAZA BLVD GR EENWOODVILLAGE,CO 80111 303-850-4175(phone) 303-393-4842(fax) sbennetts@ltgc.com PLEASE CONTACT YOUR CLOSER OR CLOSER'S ASSISTANT FOR WIRE TRANSFER INSTRUCTIONS MAUR IELLOPLANNING GR OUP,LLC Attention:ALLISON KENT PO BOX 4777 2205 EAGLE R ANCH R D EAGLE,CO 81631 970-376-3318(work) 970-748-0377(work fax) allison@mpgvail.com Delivered via:Electronic Mail IP" Land Title' GUARANTEE COMPANY —�SirnE I S7-,- Land Title Guarantee Company Estimate of Title Fees Order Number: ABC50050675 Date: 05-21-2018 Property Address: 720 W LIONSHEAD CIR AND 714 LIONSHEAD PL,VAIL,CO 81657 Buyer/Borrower: A BUYER TO BE DETER MINED Seller: DIAMONDROCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANY Visit Land Title's website at www.ltgc.com for directions to any of our offices. Estimate of Title Insurance Fees TBD Commitment $216.00 If Land Title Guarantee Company will be closing this transaction,the fees listed above will be collected at closing. Total $216.00 THANK YOU FOR YOUR ORDER! ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number: ABC50050675 Customer Ref-Loan No.: Property Address: 720 W LIONSHEAD CIR AND 714 LIONSHEAD PL,VAIL,CO 81657 1. Effective Date: 05-17-2018 At 5:00 P.M. 2. Policy to be Issued and Proposed Insured: "TBD"Commitment $0.00 Proposed Insured: A BUYER TO BE DETER MINED 3. The estate or interest in the land described or referredto in this Commitment and covered herein is: A FEE SIMPLE AS TO PARCELS 1 AND 2 AND AN EASEMENTAS TO PARCELS 3 AND 4 4. Title to the estate or interest covered herein is at the effective date hereof vested in: DIAMONDR OCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANY 5. The Land referredto in this Commitment is described as follows: PARCEL 1: LOT 1, WEST DAY SUBDIVISION,ACCOR DINGTO THE PLAT R ECOR DEDMAR CH 10, 2005 AT R ECEPTIONNO. 908760, COUNTY OF EAGLE,STATE OF COLORADO. PARCEL 2: CONDOMINIUM LODGE UNIT,THE MARK/LODGE IN ACCOR DANCEWITH THE AMENDED DECLARATION OF CONDOMINIUM FOR THE MARK/LODGE R ECOR DEDOCTOBER 17, 1978 IN BOOK 276 AT PAGE 606 AND MARCH 22, 1979 IN BOOK 283 AT PAGE 344 AND THE CONDOMINIUM MAP FOR THE MARK/LODGE R ECOR DEDMAR CH 27, 1974 IN BOOK 233 AT PAGE 930 AND THE AMENDED PLAT OF THE SITE PLAN FOR THE MARK/LODGE R ECOR DEDOCTOBER 17, 1978 IN BOOK 276 AT PAGE 607, COUNTY OF EAGLE,STATE OF COLORADO. PARCEL 3: AN EASEMENTAS DESCR IBEDIN PAR KINGEASEMENTAGR EEMENTR ECOR DEDJUNE 24, 2005 R ECEPTIONNO. 920514 AND FIR STAMENDMENT R ECOR DEDJULY 27, 2007 UNDER R ECEPTIONNO. 200719892 OVER A PORTIONOF LOT 2, WEST DAY SUBDIVISION,ACCOR DINGTO THE PLAT R ECOR DEDMAR CH 10, 2005 AT R ECEPTION NO. 908760, COUNTY OF EAGLE,STATE OF COLORADO. PARCEL 4: AN EASEMENTAS DESCR IBEDIN PAR KINGEASEMENTAGR EEMENTR ECOR DEDJUNE 24, 2005 R ECEPTIONNO. 920514 AND FIR STAMENDMENT R ECOR DEDJULY 27, 2007 UNDER R ECEPTIONNO. 200719892 OVER A PART OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE 6TH PRINCIPAL MER IDIAN,DESCR IBEDAS FOLLOWS: BEGINNING AT THE POINT OF INTER SECTIONOF THE WEST LINE OF A COUNTY ROAD WITH THE ALTA COMMITMENT Old Republic National Title Insurance Company Schedule A Order Number: ABC50050675 Customer Ref-Loan No.: NORTHERLY RIGHT OF WAY OF FOR MER U.S. HIGHWAY NO. 6 FROM WHICH POINT THE NOR THEAST CORNER OF SAID SECTION 12 BEAR SNORTH4 DEGREES31 MINUTES EAST,552.6 FEET; THENCE SOUTH 73 DEGREES45 MINUTES WEST,ALONG SAID HIGHWAYRIGHTOF WAY LINE, 252 FEET TO THE CENTER OF RED SANDSTONE CR EEK;THENCE NORTH 4 DEGR EES30 MINUTES WEST,ALONG THE CENTER LINEOF RED SANDSTONE CR EEK,170.4 FEET; THENCE NORTH 10 DEGR EES44 MINUTES EAST,ALONG THE CENTER LINEOF RED SANDSTONE CR EEK,34.3 FEET TOA POINT ON THE SOUTHERLY RIGHT OF WAY LINE OF U.S. INTERSTATE HIGHWAY NO. 70; THENCE NORTHEASTERLY ON A CUR VETO THE RIGHT WITH A RADIUSOF 2715 FEET,AN ARC DISTANCE OF 264.28 FEET TO A POINT ON THE WEST LINE OF SAID COUNTY ROAD;THENCE SOUTHERLY ALONG SAID WEST LINE, 222.31 FEET, (222.39 FIELD MEASUR EMENT),MOR E OR LESS,TO THE POINT OF BEGINNING, COUNTY OF EAGLE,STATE OF COLORADO. Copyright 2006-2018 American Land Title Association. All Rights Reserved AMERICAN LAND TITLE ASSOCIATION The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited.Reprinted under license f romthe American Land TitleAssociation. ALTA COMMITMENT Old Republic National Title Insurance Company Schedule B, Part I (Requirements) Order Number: ABC50050675 The following are the requirements must be met: This proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land.The Company may then make additional Requirements or Exceptions. Pay the agreed amount for the estate or interest to be insured. Pay the premiums, fees,and charges for the Policy to the Company. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized,executed,delivered, and recorded in the Public Records. 1. A FULL COPY OF THE FULLY EXECUTED OPER ATINGAGR EEMENTAND ANY AND ALLAMENDMENTS THER ETOFOR DIAMONDR OCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANY MUST BE FUR NISHEDTO LAND TITLE GUARANTEECOMPANY. SAID AGR EEMENTMUST DISCLOSE WHO MAY CONVEY,ACQUIRE,ENCUMBER,LEASE OR OTHER WISEDEAL WITH INTER ESTSIN REAL PROPERTY FOR SAID ENTITY. NOTE:ADDITIONAL R EQUIR EMENTSMAY BE NECESSARY UPON R EVIEWOF THIS DOCUMENTATION. 2. DULY EXECUTEDAND ACKNOWLEDGED STATEMENT OF AUTHOR ITYSETTING FOR THTHE NAME OF DIAMONDR OCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANYAS A LIMITED LIABILITY COMPANY. THE STATEMENT OF AUTHOR ITYMUST STATE UNDER WHICH LAWSTHE ENTITY WAS CREATED, THE MAILING ADDR ESSOF THE ENTITY,AND THE NAME AND POSITION OF THE PER SON(S)AUTHOR IZEDTO EXECUTE INSTR UMENTSCONVEYING, ENCUMBER ING,OR OTHER WISEAFFECTING TITLE TO R EALPROPERTY ON BEHALF OF THE ENTITY AND OTHERWISE COMPLYING WITH THE PR OVISIONSOF SECTION 38-30-172, CRS. NOTE:THE STATEMENT OF AUTHOR ITYMUST BE R ECOR DEDWITH THE CLER KAND R ECOR DER. 3. WARRANTY DEED FROM DIAMONDR OCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANY TOA BUYER TO BE DETER MINEDCONVEYING SUBJECT PROPERTY. NOTE:ADDITIONAL R EQUIR EMENTSOR EXCEPTIONS MAY BE NECESSARY WHEN THE BUYER S NAMES AR EADDED TO THIS COMMITMENT.COVERAGESAND/OR CHAR GES REFLECTED HEREIN,IF ANY,AR E SUBJECT TO CHANGE UPON R ECEIPTOF THE CONTR ACTTO BUY AND SELL R EALESTATE AND ANY AMENDMENTS THER ETO. Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: ABC50050675 This commitment does not republish any covenants,condition, restriction,or limitation contained in any document referred to in this commitment to the extent that the specific covenant,conditions, restriction,or limitation violates state or federal law based on race,color,religion, sex, sexual orientation,gender identity,handicap,familial status,or national origin. 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 affectingthe Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 4. Any lien, or right to a lien, for services,labor or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records. 5. Defects,liens, encumbrances,adverse claims or other matters,if any,created,first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date of the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. (a)Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b)proceedings by a public agency that may result in taxes or assessments,or notices of such proceedings,whether or not shown by the records of such agency or by the Public Records. 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. 8. EXISTING LEASESAND TENANCIES, IF ANY. 9. RIGHTOF PR OPR IETOROF A VEIN OR LODE TO EXTRACTAND R EMOVEHIS OR ETHER EPROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTER SECTTHE PR EMISESAS RESERVED IN UNITED STATES PATENT R ECOR DEDMAY 24, 1904, IN BOOK 48 AT PAGE 503 AND SEPTEMBER 4, 1923 IN BOOK 93 AT PAGE 98. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTR UCTED BY THE AUTHOR ITYOF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT R ECOR DEDMAY 24, 1904, IN BOOK 48 AT PAGE 503 AND SEPTEMBER 4, 1923 IN BOOK 93 AT PAGE 98. 11. UTILITY EASEMENTAS GRANTEDTO HOLY CR OSS ELECTR ICASSOCIATION,INC. IN INSTR UMENT R ECOR DEDAPR IL19, 1978, IN BOOK 269 AT PAGE 202 AND AUGUST 30, 1982 IN BOOK 344 AT PAGE 922. 12. UTILITY EASEMENTAS GRANTEDTO CABLEVISIONASSOCIATES VI, D/B/A HER ITAGE CABLEVISION INC. IN INSTR UMENTR ECOR DEDMAY 20, 1983, IN BOOK 360 AT PAGE 42. 13. TER MS,CONDITIONS AND PROVISIONSOF PARTY WALL AND ENCR OACHMENTAGR EEMENTBY AND BETWEEN THE MAR K R ESORTAND TENNIS CLUB ASSOCIATION,INC., A COLORADO NOT FOR Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: ABC50050675 PR OFITCORPORATION AND M-K COR PORATIONA COLOR ADO CORPORATION R ECOR DEDJULY 27, 1982 IN BOOK 343 AT PAGE 463. 14. TER MS,CONDITIONS AND PROVISIONSOF AGR EEMENTBYAND BETWEEN THE M-K COR PORATIONA COLORADOCORPORATION AND THE MAR K R ESORTAND TENNI CLUB ASSOCIATION,INC., A COLORADOCORPORATION R ECOR DEDJULY 27, 1982 IN BOOK 343 AT PAGE 464. 15. TER MS,CONDITIONS AND PR OVISIONSOF RECIPROCAL EASEMENTSAND COVENANTS AGR EEMENTR ECOR DEDFEBRUARY 04, 2003 ATR ECEPTIONNO. 822409, MARCH 13, 2003 RECEPTION NO. 826600 AND JULY 8, 2003, RECEPTION NO. 839474. 16. TER MS,CONDITIONS AND PR OVISIONSOF TR ENCH,CONDUIT AND VAULT AGR EEMENT R ECOR DEDOCTOBER 01, 2004 AT RECEPTION NO. 893080 AND RECORDEDNOVEMBER4, 2004 AT RECEPTION NO. 896693. 17. EASEMENTS,CONDITIONS, COVENANTS,R ESTR ICTIONS,RESERVATIONS AND NOTES ON THE PLAT OF WEST DAY SUBDIVISION R ECOR DEDMAR CH 10, 2005 AT RECEPTION NO. 908760. NOTE:AMENDMENT OF ACCESS WAY R ECOR DEDSEPTEMBER 16, 2009 UNDER R ECEPTIONNO. 200920433. 18. TER MS,CONDITIONS AND PR OVISIONSOF PARTY WALL AGR EEMENTBYAND BETWEEN THE MARK-LODGE CONDOMINIUM ASSOCIATION INC., A NOT-FOR-PROFIT COLORADOCOPORATION AND M-K COR PORATIONA COLOR ADO CORPORATION R ECOR DEDOCTOBER 17, 1978 IN BOOK 276 AT PAGE 608. 19. TER MS,CONDITIONS AND PR OVISIONSCONTAINED IN AGR EEMENTBY AND BETWEEN M-K COR PORATIONA COLOR ADOCORPORATION AND THE MARK-LODGE CONDOMINIUM ASSOCIATION INC. R ECOR DEDOCTOBER 17, 1978 IN BOOK 276 AT PAGE 609 AS AMENDED BY THAT CERTAIN FIRSTAMENDMENTTOAGREEMENT RECORDEDJUNE 16, 2005 RECEPTION NO. 919518. 20. THOSE PROVISIONS,COVENANTSAND CONDITIONS, EASEMENTS,AND RESTRICTIONS, CONTAINED IN AMENDED DECLARATION OF CONDOMINIUM FOR THE MARK/LODGE R ECOR DED OCTOBER 17, 1978, IN BOOK 276 AT PAGE 606 AND AS AMENDED IN INSTR UMENTR ECOR DED MARCH22, 1979, IN BOOK 283 AT PAGE 344 AND FIR STAMENDMENTRECOR DEDJUNE 14, 2006 UNDER RECEPTIONNO. 200615657. NOTE: RIGHT OF FIRST REFUSAL WAIVER AND RELEASE R ECOR DEDJUNE 24, 2005 UNDER R ECEPTION NO. 920511. 21. EASEMENTS,RESERVATIONS AND R ESTR ICTIONSAS SHOWN OR RESERVED ON THE CONDOMINIUM MAP FOR THE MARK LODGE R ECOR DEDMAR CH 27, 1974 IN BOOK 233 AT PAGE 930 AND AMENDED PLAT R ECOR DEDOCTOBER 17, 1978 IN BOOK 276 AT PAGE 607. 22. RIGHTOF WAY EASEMENTAS GRANTEDTO HOLY CROSS ENERGY IN INSTRUMENTRECOR DED MAY 21, 2002, UNDER RECEPTION NO. 796284. 23. TER MS,CONDITIONS AND PR OVISIONSOF COOPERATION AND EASEMENTAGR EEMENT R ECOR DEDJUNE 24, 2005 R ECEPTIONNO. 920513. Old Republic National Title Insurance Company Schedule B, Part II (Exceptions) Order Number: ABC50050675 24. TER MS,CONDITIONS AND PR OVISIONSOF AGR EEMENTR EGAR DINGDENSITYALLOCATION R ECOR DEDJUNE 24, 2005 R ECEPTIONNO. 920515. NOTE: ENCR OACHMENTAGR EEMENTR ECOR DEDJUNE 28, 2005 RECEPTION NO. 920869. NOTE: CLARIFICATION OF AND AMENDMENT TO AGR EEMENTR EGAR DINGDENSITYALLOCATION R ECOR DEDSEPTEMBER 16, 2009 UNDER RECEPTION NO. 200920432. 25. TER MS,CONDITIONS AND PR OVISIONSOF PAR KINGEASEMENTAGR EEMENTR ECOR DEDJUNE 24, 2005 AT R ECEPTION NO. 920514 AND FIR STAMENDMENT R ECOR DEDJULY 27, 2007 UNDER RECEPTION NO. 200719892. 26. LEASE BETWEEN DIAMONDR OCKVAIL OWNER,LLC,A DELAWARE LIMITED LIABILITY COMPANY, LESSOR,AND DIAMONDR OCKVAIL TENANT, LLC, , LESSEE,AS SHOWN BY MEMORANDUM OF LEASE R ECOR DEDJULY 19, 2005, UNDER RECEPTION NO. 923246. NOTE:THE PR ESENTOWNERSHIPOF THE LEASEHOLD CREATED BY SAID LEASEAND OTHER MATTERS AFFECTING THE INTER ESTOF THE LESSEEAR E NOT SHOWN HER EIN. (ITEMS 9-26 AFFECT PARCELS 1 AND 2) 27. TER MS,CONDITIONS, PROVISIONS,BUR DENSAND OBLIGATIONSAS SET FORTH IN MEMORANDUM OF RIGHT OF FIR ST REFUSAL R ECOR DEDJULY 05, 2005 UNDER RECEPTION NO. 921518. (AFFECTS PARCEL 1) 28. RIGHTOF PR OPR IETOROF A VEIN OR LODE TO EXTRACTAND R EMOVEHIS ORETHER EFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTER SECTTHE PR EMISESAS RESERVED IN UNITED STATES PATENT R ECOR DEDDECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 29. RIGHT OF WAY FOR DITCHES OR CANALS CONSTR UCTED BY THE AUTHOR ITYOF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT R ECOR DEDDECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. (ITEMS 28-29 AFFECT PARCEL 3) 30. LEASE BETWEEN DIAMONDR OCKVAIL TENANT,A DELAWARE LIMITED LIABILITY COMPANY, LESSOR,AND SSI VENTUR ELLC,A COLORADOLIMITED LIABILITY COMPANY, LESSEE,AS SHOWN BY MEMORANDUM OF LEASE R ECOR DEDMAR CH 05, 2018, UNDER RECEPTION NO. 201803488. JOINT NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY Land Tit LAND TITLE GUARANTEE COMPANY OF SUMMIT COUNTY LAND TITLE INSURANCE CORPORATION AND OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY This Statement is provided to you as a customer of Land Title Guarantee Company and Meridian Land Title, L LC,as agents for Land Title Insurance Corporation and Old R epublic National Title Insurance Company. 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. IP" LAND TITLE GUARANTEE COMPANY Land Title' GLM A 1TE.E COMPANY ..7)M1.-1' ::.-_ 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 taxing district. B) A certificate of taxes due listing each taxing jurisdiction will be obtained from the county treasurer of the county in which the real property is located or that county treasurer's authorized agent unless the proposed insured provides written instructions to the contrary. (for an Owner's Policy of Title Insurance pertaining to a sale of residential real property) 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 R ecorder,or the County Assessor. Note: Effective September 1, 1997, CR S 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 R egulations 8-1-2 requires that"Every title entity shall be responsible for all matters 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 which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording 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-2 of the Commitment from the Owner's Policy 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 mechanic's and material-men's liens. D) The Company must receive payment of the appropriate premium. E) If there has been construction,improvements or major 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 satisfactory 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 disclosing that a mineral estate has been severed from the surface estate,in Schedule B-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 include 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 defrauding or attempting to defraud the company.Penalties may include imprisonment,fines,denial of 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 the 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 R egulatoryAgencies. Note: Pursuant to Colorado Division of Insurance R egulations8-1-3,notice is hereby given of the availability of a closing protection letter for the lender,purchaser, lessee or seller in connection with this transaction. * 4- Commitment For Title Insurance Issued by OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY 4F NOTICE * IMPORTANT—READ CAREFULLY:THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MOR ETITLE INSUR ANCE POLICIES.ALL CLAIMS OR R EMEDIESSOUGHT AGAINST THE COMPANY INVOLVINGTHE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE,R EPORTOF THE CONDITION OF TITLE,LEGAL OPINION,OPINION OF TITLE,OR OTHER REPRESENTATION OF THE STATUS OF TITLE.THE PR OCEDUR ESUSED BY THE COMPANY TO DETER MINEINSURABILITYOF THE TITLE,INCLUDING ANY SEAR CHAND EXAMINATION,ARE PROPRIETARY TO THE COMPANY,WER EPER FOR MEDSOLELY FOR THE BENEFIT OF THE COMPANY,AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PER SON,INCLUDING A PR OPOSEDINSUR ED. THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PR OPOSEDINSUR ED IDENTIFIED IN SCHEDULE A IN ACCOR DANCEWITH THE TER MSAND PR OVISIONSOF THIS COMMITMENT.THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVINGTHE CONTENT OF THIS COMMITMENT TO ANY OTHER PER SON. COMMITMENT TO ISSUE POLICY Subject to the Notice;Schedule B,Part I—R equirements;Schedule B,Part II—Exceptions;and the Commitment Conditions,Old republic National Title Insurance Company,A Minnesota corporation(the"Company"),commits to issue the Policy according to the terms and provisions of this Commitment.This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A,only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I—R equirements have not been met within 6 months after the Commitment Date,this Commitment terminates and the Company's liability and obligation end. COMMITMENT CONDITIONS 1. DEFINITIONS (a)"Knowledge"or"Known":Actual or imputed knowledge,but not constructive notice imparted by the Public Records. (b)"Land":The land described in Schedule A and affixed improvements that by law constitute real property.The term"Land"does not include any property beyond the lines of the area described in Schedule A,nor any right,title,interest,estate,or easement in abutting streets,roads,avenues,alleys,lanes,ways,or waterways,but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c)"Mortgage":A mortgage,deed of trust,or other security instrument,including one evidenced by electronic means authorized by law. (d) "Policy":Each contract of title insurance,in a form adopted by the American Land Title Association,issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured":Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f)"Proposed Policy Amount":Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g)"Public Records":R ecordsestablished under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h)"Title":The estate or interest described in Schedule A. 2. If all of the Schedule B,Part I—R equirements have not been met within the time period specified in the Commitment to Issue Policy, Comitment terminates and the Company's liability and obligation end. 3. The Company's liability and obligation is limited by and this Commitment is not valid without: (a) the Notice; (b) the Commitment to Issue Policy; (c) the Commitment Conditions; (d) Schedule A; (e) Schedule B,Part I—Requirements;[and] (f) Schedule B,Part II—Exceptions[;and (g) a counter-signature by the Company or its issuing agent that may be in electronic form. 4. COMPANY'S RIGHT TO AMEND The Company may amend this Commitment at any time.If the Company amends this Commitment to add a defect,lien,encumbrance,adverse claim,or other matter recorded in the Public Records prior to the Commitment Date,any liability of the Company is limited by Commitment Condition 5.The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a)The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment,resulting from the Proposed Insured's good faith reliance to: (I) comply with the Schedule B,Part I—Requirements; (ii) eliminate,with the Company's written consent,any Schedule B,Part II—Exceptions;or (Hi) acquire the Title or create the Mortgage covered by this Commitment. (b)The Company shall not be liable under Commitment Condition 5(a)if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c)The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d)The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a)(i)through 5(a)(iii)or the Proposed Policy Amount. (e)The Company shall not be liable for the content of the Transaction Identification Data,if any. (f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I—R equirementshave been met to the satisfaction of the Company. (g) In any event,the Company's liability is limited by the terms and provisions of the Policy. 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a) Only a Proposed Insured identified in Schedule A,and no other person,may make a claim under this Commitment. (b)Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. (c) Until the Policy is issued,this Commitment,as last revised,is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations,representations,and proposals of any kind,whether written or oral,express or implied,relating to the subject matter of this Commitment. (d)The deletion or modification of any Schedule B,Part II—Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (e)Any amendment or endorsement to this Commitment must be in writing[and authenticated by a person authorized by the Company]. (f) When the Policy is issued,all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy. 7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies.The issuing agent is not the Company's agent for the purpose of providing closing or settlement services. 8. PRO-FORMA POLICY The Company may provide,at the request of a Proposed Insured,a pro-forma policy illustrating the coverage that the Company may provide.A pro-forma policy neither reflects the status of Title at the time that the pro-forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9. ARBITRATION The Policy contains an arbitration clause.All arbitrable matters when the Proposed Policy Amount is$2,000,000 or less shall be arbitrated at the option of either the Company or the Proposed Insured as the exclusive remedy of the parties.A Proposed Insured may review a copy of the arbitration rules at http://www.alta.org/arbitration. Old R epublicNational Title Insurance Company a Stock Company Issued by: r r r 400 Second Avenue South Land Title Guarantee Company , TIT ,•�'. Minneapolis,Minnesota 55401 3033 East First Avenue Suite 600 • r1PL �F7 '� (612)371-1111 Denver,Colorado 80206 * ' c'9 * 303-321-1880 T G ' 2 * z Mark Bi President nt — AMERICAN m LAND TITLEff Om` ASSOCIATION 0 • Rende Yeager Authorized Officer or Agent ,,,, , ,,•• Secretary TM This page is only a part of a 2016 ALTA®Commitment for Title Insurance Old Republic National Title Insurance Company.This Commitment is not valid without the Notice;the Commitment to Issue Policy;the Commitment Conditions;Schedule A;Schedule B,Part I—Requirements;and Schedule B,Part 11—Exceptionsf;and a counter-signature by the Company or its issuing agent that maybe in electronic form] Copyright 2006-2016 American Land Title Association.All rights reserved. The use of this Form(or any derivative thereof)is restricted to ALTA licensees and ALTA members in good standing as of the date of use.All other uses are prohibited.R eprintedunder license from the American Land Title Association.