HomeMy WebLinkAbout2018-26 Mutual Release of Restrictive Covenant Amended and Restated Development Agreement with Alejandro Gonzalez CimadevillaRESOLUTION NO. 26
SERIES OF 2018
A RESOLUTION APPROVING A MUTUAL RELEASE OF RESTRICTIVE COVENANT
AMENDED AND RESTATED DEVELOPMENT AGREEMENT BETWEEN THE TOWN
OF VAIL AND ALEJANDRO GONZALEZ CIMADEVILLA; AND SETTING FORTH
DETAILS IN REGARD THERETO.
WHEREAS, the Town of Vail (the "Town"), in the County of Eagle and State of
Colorado is a home rule municipal corporation duly organized and existing under the
laws of the State of Colorado and the Town Charter (the "Charter");
WHEREAS, the members of the Town Council of the Town (the "Council") have
been duly elected and qualified;
WHEREAS, Alejandro Gonzalez Cimadevilla is the owner of that certain property
("the Property") located within the Town of Vail, Eagle County, Colorado, with a physical
address of 44 Vail Road Unit 3 (aka Willow Place Unit 3), Vail, Colorado 81657;
WHEREAS, a restrictive covenant ("Restrictive Covenant") was recorded against
the Property for the sole purpose of creating an employee housing unit within the Town
of Vail as provided in Chapter 12-13, Vail Town Code;
WHEREAS, said Restrictive Covenant was recorded against the Property in the
records of the Clerk and Recorder of Eagle County, Colorado on May 3, 1995 at Book
666, Page 480;
WHEREAS, The Town is the beneficiary of said Restrictive Covenant; and
WHEREAS, Releasee and the Town, pursuant to Section 12-13-5 of the Vail
Town Code, wish to mutually release the Restrictive Covenant in exchange for the
placement of an employee housing deed restriction on Vail Village Filing 13, Block 2,
Lot 23 W/2395 Bald Mountain Road Unit W, Vail, Colorado 81657 (the "Proposed
EHU").
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail,
Colorado:
Section 1. The Council hereby approves the Mutual Release of Restrictive
Covenant and authorizes the Town Manager to execute the Mutual Release of
Restrictive Covenant Agreement on behalf of the Town in substantially the same
form as attached hereto as Exhibit A and in a form approved by the Town
Attorney.
Resolution No. 26, Series of 2018
Section 2. This Resolution shall take effect immediately upon the recording of
an employee housing deed restriction in a form approved by the Town on the
Proposed EHU.
INTRODUCED, READ, APPROVED AND ADOPTED this 3rd day Qf July, 2018.
ATTEST:
Resolution No. 26, Series of 2018
ve Chapin,
MUTUAL RELEASE OF RESTRICTIVE COVENANT
THIS RELEASE is made and entered into this day of , 2018, by and
between Alejandro Gonzalez Cimadevilla, hereinafter referred to as "RELEASEE" and the Town
of Vail, a Colorado Municipal Corporation, hereinafter referred to as "RELEASOR".
WHEREAS, Releasee is the owner of that certain property ("the Property") located within
the Town of Vail, Eagle County, Colorado, with a physical address of 44 Vail Road Unit 3 (aka
Willow Place Unit 3), Vail, Colorado 81657;
WHEREAS, a restrictive covenant ("Restrictive Covenant") was recorded against the
Property for the sole purpose of creating an employee housing unit within the Town of Vail as
provided in Chapter 12-13, Vail Town Code;
WHEREAS, said Restrictive Covenant was recorded against the Property in the records
of the Clerk and Recorder of Eagle County, Colorado on May 3, 1995 at Book 666, Page 480;
WHEREAS, Releasor is the beneficiary of said Restrictive Covenant; and
WHEREAS, at the public meeting held on July 3, 2018, and pursuant to Section 12-13-5
of the Vail Town Code, the Town Council of the Town of Vail, Colorado ("Town Council")
approved the release of the Restrictive Covenant in exchange for the placement of an employee
housing deed restriction on Vail Village Filing 13, Block 2, Lot 23 W/2395 Bald Mountain Road
Unit W, Vail, Colorado 81657.
NOW THEREFORE, in consideration of the mutual terms and provisions herein below
set forth, and other good and valuable consideration, the receipt and adequacy of which is
hereby confessed and acknowledged to, the parties agree:
1. The Town Council approved the release of the Restrictive Covenant on July 3, 2018, via
Resolution 26, Series of 2018.
2. Releasor hereby terminates the Restrictive Covenant recorded against the Property in
the office of the Clerk and Recorder of Eagle County, Colorado at Book 666, Page 480
and dated May 3, 1995 and hereby releases Releasee from all duties and obligations of
said Restrictive Covenant.
3. Upon execution of the Release, Releasee shall be free to sell, devise, gift, lease, or
otherwise dispose of the Property at will, at any time, and to any buyer or tenant with no
further restrictions imposed by Releasor.
4. Upon execution of the Release, Releasee shall be free to reside in and use the Property
with no further restrictions imposed by the Releasor.
5. This Release shall be permanent and shall run with the land and shall not be waived,
abandoned, amended, or terminated and shall inure to the benefit and be binding upon
the parties, their respective grantees, successors, or assigns.
Page 1 of 2
6. This Release constitutes the entire agreement between the parties with respect to the
subject matter hereof, and there are no inducements, representations, warranties, or
understandings that do not appear within the terms and provisions of the Release. This
Release may be modified only in writing, signed by both parties.
7. This release shall be recorded in the real property records of Eagle County, Colorado
and the provisions of this Release shall be governed by the laws of the State of
Colorado, including any action arising out of this Release.
8. If any provisions of this Release shall be held by a court of competent jurisdiction to be
illegal, invalid or unenforceable, the remaining provisions shall remain in full force and
effect. This Release has been negotiated by the parties and their respective counsel
and shall be interpreted fairly in accordance with its terms and without any strict
construction in favor of or against either party.
RELEASOR:
TOWN OF VAIL, a Colorado Municipal Corporation
By:
Greg Clifton, Town Manager
ATTEST:
Patty McKenny, Town Clerk
RELEASEE:
By:
Alejandro Gonzalez Cimadevilla, Current Owner
STATE OF )
) ss
COUNTY OF )
The foregoing instrument was acknowledged before me this day of , 2018 by
Alejandro Gonzalez Cimadevilla.
Notary Public:
My Commission Expires:
Page 2 of 2