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Home My WebLink About1990-09-18 Support Documentation Town Council Regular Session VAIL TOWN COUNCIL REGULAR MEETING TUESDAY, SEPTEMBER 18, 1990 7:30 p.m. AGENDA 1. Ten Year Employment Anniversary Award to Jeff Layman 2. CITIZEN PARTICIPATION 3. Approval of August 7 and 21, 1990 Minutes 4. Action on Purchase of Holy Cross Property at Red Sandstone Creek Road 5. Adjournment VAIL TOWN COUNCIL REGULAR MEETING TUESDAY, SEPTEMBER 18, 1990 7:30 p.m. EXPANDED AGENDA 7:30 1. Ten Year Employment Anniversary Award to Jeff Layman 7:35 2. CITIZEN PARTICIPATION 7:50 3. Approval of Minutes of August 7 and 21, 1990 Meetings 7:55 4. Action on Purchase of Holy Cross Property at Red Sandstone Ron Phillips Creek Road Action Requested of Council: Approve/modify/deny proposed contract to purchase the Holy Cross parcel. Background Rationale: The proposed contract to purchase the Holy Cross parcel is enclosed in your packet. 8:25 6. Adjournment ,'fi MINUTES VAIL TOWN COUNCIL MEETING AUGUST 7, 1990 7:30 P.M. A regular meeting of the Vail Town Council was held on Tuesday, August 7, 1990, at 7:30 p.m., in the Council Chambers of the Vail Municipal Building. MEMBERS PRESENT: Kent Rose, Mayor Tom Steinberg, Mayor Pro Tem Lynn Fritzlen Jim Gibson Merv Lapin Robert Levine Peggy Osterfoss MEMBERS ABSENT: None TOWN OFFICIALS PRESENT: Ron Phillips, Town Manager Larry Eskwith, Town Attorney Pam Brandmeyer, Town Clerk There was no Citizen Participation, the first item on the agenda. Next was a public hearing on the 1990-91 parking policies. Stan Berryman gave an introduction to the hearing stating the Parking and Transportation Advisory Committee had met several times to discuss recommendations for these policies. Arnold Ullevig then gave an in-depth presentation regarding the proposed policies and the reasoning for the changes from the current practices. He then held a question and answer session with Council and the public. Trevor Bradway felt the policies were discriminatory against Village workers and those who had paid into the parking fund for parking spaces in the Village Transportation Center. Josef Staufer commented that making employees (who get off work at 2:00 a.m.) park in Ford Park was unfair. There was some discussion regarding employees getting off at late hours, and why coupons worked well before and some people hated to get rid of them. Much discussion by the public and Council ensued regarding pros and cons. Rob Levine made a motion to table the item and send it back to the Advisory Committee for further review. Tom Steinberg seconded the motion. Jim Gibson stated he wanted to pass the program with the following conditions: lift restrictions on the Village parking structure parking; parking free at Ford Park; and other modifications to be made as the program went along. He felt this was a step in the right direction. Mayor Rose explained why he felt it should go back to the committee. A vote was taken and the motion passed 5-2, with Lynn Fritzlen and Jim Gibson opposed. Ron Phillips asked Council to specifically name the items they felt the Advisory Committee should review. Lynn Fritzlen felt the added stress on employees because of the parking and housing situations was bad, and the plan could help by providing a pass specifically targeted to Village employees. Rob Levine thought the Village Transportation Center could be shared by a first come, first served basis by access or price; include the coupons at a reasonable rate; and there be one pass with no restrictions for $750, that the person could come and go as he pleased. Mayor Rose remarked since the audience felt the blue parking passes would promote more cars in the Village than the coupons, he felt a combined window sticker and coupon program was good and would work. He added he did not think there should be any summer charges for the Village parking structure, and was not sure differential rates on everything in the Village structure was proper. Jim Gibson thought a blue pass should have "a number of times used" and not "number of days." Peggy Osterfoss commented the audience wanted to have the ability to do what they wanted and parking where they wanted, and paying more was not an issue. The third item was a Consent Agenda of the following items: A. Approval of Minutes of July 3 and 17, 1990 Meetings B. Ordinance No. 19, Series of 1990; second reading, an ordinance modifying Section 18.13.080(A) of the Municipal Code of the TOU regarding density control for the primary/secondary zone district (Applicant: Town of Vail) C. Ordinance No. 24, Series of 1990, second reading, an ordinance making supplemental appropriations from the Town of Vail general fund, capital projects fund, Communities for Drug-Free Eagle Valley fund, special parking assessment fund, Vail marketing fund and the real estate transfer tax fund, of the 1990 budget and the financial plan for the Town of Vail, Colorado; and authorizing the expenditures of said appropriations as set forth herein. D. Ordinance No. 28, Series of 1990, second reading, an ordinance amending the plan document of the Town of Vail employees' pension plan; and setting forth details in regard thereto. E. Ordinance No. 29, Series of 1990, second reading, an ordinance amending the Town's Police and Fire pension plan document subject to approval by sixty-five percent (65%) of the Town's Police and Firemen; and setting forth details in regard thereto. F. Ordinance No. 30, Series of 1990, second reading, an ordinance amending the trust agreement pursuant to the Town of Vail employees' pension plan; and setting forth details in regard thereto. G. Resolution No. 18, Series of 1990, a resolution authorizing certain Town employees and officers to sign checks drawing on an operating account to be opened by the Town at the FirstBank of Vail and further authorizing certain employees of the Town to make deposits in said account. H. Resolution No. 19, Series of 1990, a resolution authorizing the Town of Vail to rent a safe deposit vault at the FirstBank of Vail and authorizing certain officers to sign a lease therefor, to terminate the lease, to surrender the box, return the keys, and release the Bank from any liability in connection therewith. Merv Lapin made a motion to approve the Consent Agenda as presented. Tom Steinberg seconded the motion. There was no discussion by Council or the public. A vote was taken and the motion passed unanimously 6-0. Lynn Fritzlen was out of the room at the moment. Next was Ordinance No. 25, Series of 1990, second reading, an ordinance amending Special Development District No. 23, the Vail National Bank Building, and setting forth the details in regard thereto. Mayor Rose read the full title of the ordinance. Mike Mollica stated the only change made since first reading was under Section 4.E. Anew paragraph had been added. Larry Eskwith then discussed Vail Associates' waiver of right of reverter clause which Jim Gibson had questioned at the first reading. Jay Peterson, representing the applicant, gave background information regarding the parking situation, and did not feel the ordinance's new paragraph 4.E. was fair. After some discussion by Council and Jay, a motion to approve the ordinance on second reading with the additional language was made by Merv Lapin. A second came from Rob LeUine. A vote was taken and the motion passed 5-2, with Tom Steinberg and Lynn Fritzlen opposed. Fifth on the agenda was Ordinance No. 22, Series of 1990, first reading, an ordinance amending SDD No. 7, commonly referred to as the Marriott Mark Resort, and the development plan in accordance with Chapter 18.40 of the Vail Municipal Code; and setting forth details in regard thereto (714 West Lionshead Circle, Lots 4, 7, C, D, Block 2, Vail-Lionshead 3rd Filing) (Applicant: M-K Corporation - Kaiser Morcus and Marriott Corporation). The full title was read by Mayor Rose. Jim Gibson made a motion to table this item until the September 4 evening meeting, per the applicant's request. Rob LeUine seconded the motion. Kristan Pritz explained what rezoning the applicant was trying to change to and why. A vote was taken and the motion passed unanimously 7-0. Next was Ordinance No. 27, Series of 1990, first reading, an ordinance amending Chapter 18.04 of the Vail Municipal Code by the addition of Section 18.04.035 Brew Pub; and amending Section 18.28.030 of the Municipal Code to add Brew Pub as a permitted use in the Commercial Service Center zone district; amending Chapter 18.28.040 of the Vail Municipal Code by the addition of Brew Pubs that sell beer wholesale and Brew Pubs which sell fifteen percent of the manufactured beer or ale for off-site consumption as conditional uses to the Commercial Service Center zone district; amending Chapter 18.28 of the Vail Municipal Code to provide certain restrictions in the operation of a Brew Pub; and setting forth details in regard thereto. The full title was read by Mayor Rose. Andy Knudtsen gave brief background information on the request. He stated three changes to the Code which had to happen regarding this request for a brew pub: 1) it had to be defined; 2) Council had to make a brew pub a use by right; and 3) they had to state specific -2- items for conditional use. After some discussion, Andy then answered questions of Council. Merv Lapin then made a motion to approve the ordinance, which Jim Gibson seconded. Larry Eskwith suggested combining the two conditional uses shown in the ordinance into only one. Merv then amended his motion to approve the ordinance and to combine both conditional uses into one, and Jim amended his second. A vote was taken and the motion passed unanimously 7-0. Seventh on the agenda was an appeal of the PEC decision to approve requests for an exterior alteration and landscape variance in order to construct an addition to the Lancelot Restaurant at the Bell Tower Building located at 201 Gore Creek Drive (Part of Tract A, Block 5B, Vail Village 1st Filing) (Applicant: Hermann Staufer, Lancelot Restaurant). Kristan Pritz gave background information on the exterior alteration request and explained why staff recommended approval with two conditions: 1. The applicant must remove railings surrounding the patio from November 1 to May 1 of each year. 2. The applicant must participate in a project involving the property owners and the Town's Public Works Department in an effort to resolve drainage problems adjacent to the Bell Tower Building. These drainage problems are a result of the undirected drainage off of the building. Staff does not feel that the applicant should be required to provide the solution individually. However, staff feels it is fair to require him, as a property owner in the building, to participate and pay for his fair share as deemed by the building association. Any drainage improvements necessitated by the deck enclosure shall be addressed by the applicant in the Design Review Board submittal and building permit plans. Kristan then reviewed the landscape variance request and explained the reasoning for the request. She stated the staff recommended approval of the variance, and reviewed the Planning and Environmental Commission's vote for approval of 5-2. Kristan answered questions of Council. Peggy Osterfoss felt these were good ideas for the area. Tom Steinberg commented there should be an agreement with the applicant that he pay a parking fee, and if Council amends the ordinance and increases stated fees sometime during the next year, he would be increased as well. Peggy Osterfoss made a motion to uphold the PEC's decision to approve an exterior addition to the Bell Tower Building, finding that the granting of this variance would not constitute a grant of special privilege, and was substantiated by the Vail Village Master Plan which encourages a wide variety of activities, events, and street life along pedestrian ways and plazas, and including the conditions required in the staff memorandum dated July 23, 1990. The motion was seconded by Merv Lapin. A vote was taken and the motion passed unanimously 7-0. Peggy Osterfoss then made a motion to uphold the PEC's decision to approve a variance request to reduce the landscaping to increase the Lancelot's deck. She stated the granting of this variance would not constitute a grant of special privilege, and was in compliance with the Vail Village Master Plan, and including the conditions that the landscaping be added between the two buildings, and bench/possible boulder/Aspen tree be added to the Gore Creek Promenade greenspace as mitigation for the reduction of the landscaped area. Tom Steinberg seconded the motion. A vote was taken and the motion passed unanimously 7-0. Next was an appeal of DRB approval of the proposed residence at 3010 Booth Creek Drive (Lot 4, Block 3, Vail Village 11th Filing) (Owner: George P. Caulkins, Jr.). Shelly Mello gave background information regarding the request. Eliot Goss, an architect representing the Caulkins, presented the Council with drawings of the building in question. Kristan and Shelly then answered questions of Council. Werner Kaplan presented to Council for their review photographs of residences in the neighborhood, stating reasons why he was opposed to the building of the new home next door. Harry Frampton, a neighbor, requested Council overturn the DRB decision because he felt the Swiss style chalet in a contemporary neighborhood was totally out of place, plus the house needed a garage. August Grassis and Byron Rose, neighbors, supported Mr. Frampton's statements. Pepi Gramshammer felt the house was fine and should be approved, that everyone should have the right to build his/her own home. George Caulkins read aloud a letter he received from Rod Slifer in support of the chalet style as far as real estate price was concerned. After much discussion by Council, staff, and the public, Merv Lapin made a motion to uphold the DRB decision with the conditions the shutters be done in a solid color, a landscaping plan be incorporated on the open area, and a two car garage be put on the property. Rob Levine seconded the motion. Ned Gwathmey stated how the DRB had come to its decision. A vote was taken and the motion passed 4-3, with Mayor Rose, Tom Steinberg, and Lynn Fritzlen opposed. Mike Cacioppo gave reasons why he was against the Council's decision. -3- At this time, Council decided to take the last two items out of order to expedite the last item a member of the public was waiting to address. Therefore, action on proposed lease between the TOV and the Eagle County School District for a playground at the Red Sandstone Elementary School site at 551 North Frontage Road was next. There was no discussion by Council or the public, except to delete the staff recommendation that the lease be conditioned on the School District renewing the Town's lease on the elementary school gym. Merv Lapin made a motion to approve the lease agreement, which was seconded by Jim Gibson. A vote was taken and the motion passed unanimously 7-0. Discussion regarding an appeal of a ORB decision on the Wittemyer residence which included a new detached garage and gondola building and a revised front entry (338 Rockledge Road; Lot 1, Block 1, Vail Valley 3rd Filing) (Applicant: Mr. Wittemyer) was next. Mike Mollica remarked this item, which had been approved by the DRB, had been called up by the Council. He presented drawings of the plans and a scale model of the detached garage and house. Mike added it had been a unanimous decision to approve the plans by the DRB. Ned Gwathmey, Chairman of the DRB, gave additional information regarding the plans and DRB's reasoning for the decision made. John Wittemyer also added background information. Ned then answered questions of Council. Lynn Fritzlen made a motion to uphold the DRB decision, which Peggy Osterfoss seconded. A vote was taken and the motion passed 6-1, with Merv Lapin opposed. There being no further business, this meeting was adjourned at 12:15 a.m. Respectfully submitted, Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk Minutes taken by Brenda Chesman -4- r r MINUTES VAIL TOWN COUNCIL MEETING AUGUST 21, 1990 7:30 P.M. A regular meeting of the Vail Town Council was held on Tuesday, August 21, 1990, at 7:30 p.m., in the Council Chambers of the Vail Municipal Building. MEMBERS PRESENT: Kent Rose, Mayor Tom Steinberg, Mayor Pro-Tem Lynn Fritzlen Jim Gibson Merv Lapin Robert Levine Peggy Osterfoss MEMBERS ABSENT: None TOWN OFFICIALS PRESENT: Ron Phillips, Town Manager Larry Eskwith, Town Attorney Pam Brandmeyer, Town Clerk At the start of the meeting, all Councilmembers were present except Lynn Fritzlen and Peggy Osterfoss. Under Citizen Participation, Merv Lapin stated Channel 23's aired tapings of the Council meetings had poor sound reception. He asked if sound system improvements or placement of more microphones was needed to improve the situation. There was some discussion, and it was noted that if the audience were strictly instructed to come up and speak to a microphone, it may stop people from speaking. Peggy and Lynn arrived. Ron Phillips commented if the Council meetings were going to be held elsewhere in the future anyway, the problem would have to be dealt with. He added that staff would check into alternatives. Item two on the agenda was the Cemetery Committee presentation. Kristan Pritz gave a quick overview of the planning process to date. She listed each of the 13 potential sites, noting that the upper bench of Donovan Park had been selected as the most suitable site per the suitability analysis criteria and added that the surrounding neighborhood was strongly opposed. She then discussed briefly the analyses of the six additional sites Council had asked staff to look into. Kristan commented the next step involved detailed site planning and going before the Planning and Environmental Commission. An unidentified person in the audience was opposed to the proposed cemetery because he had questions as to who could be buried there, and wondered if the mill levy for Minturn could be transferred to Vail; he then gave his suggestions on how to proceed. Al Weiss stated he did not care if there was a cemetery or not, but he was bothered by the possibility that the Town was using up open space in town for a cemetery and not for recreation, etc. He felt the lower bench of Donovan Park was an excellent site for affordable employee housing. Hermann Staufer thought the upper bench of Donovan Park was a better spot, and urged Council to vote on a site and begin the process. There was then discussion that this was a two step process, first to decide on an exact location, and then secondly, more examination of the planning process for actually operating a cemetery. There was more discussion regarding the upper and lower benches of Donovan Park. Ella Knox felt a cemetery in the middle of a ski resort was ridiculous and the Council would regret turning the land over for that use. Mayor Rose was opposed to the lower bench, but felt the upper bench, if properly done, would be fine. He agreed it was a two step process, with the first step almost completed, and the second part to have the land developed with a natural character, with some restrictions. Questions as to who would be allowed to be buried at the site, management, and finance must be addressed in step two. Peggy Osterfoss and Rob Levine agreed with Mayor Rose. Rob felt the people who make up the committee were all responsible and caring, and he trusted them to do the right thing, he would put his faith in what these people decided. Lynn Fritzlen commented she was in favor of the site, and impressed with the level of depth of the committee's analysis. Peggy Osterfoss then made a motion to approve the Donovan Park upper bench site as presented for the Vail cemetery, with the conditions that no buildings N would be on the site, the design would maintain the naturalness as conceptualized by u the Cemetery Committee, an effort be made to buffer the residential areas as much as possible, and directions to staff to proceed with the management, design, and financial options. Rob Levine seconded the motion. Merv Lapin hoped admittance would be available only to residents of the area, which Mayor Rose replied they would direct staff to bring in a recommendation later on. Al Weiss added he had not heard about the possible placement of Town of Vail buildings on the Mountain Bell site, and felt if the land for a cemetery there was not available because of this, it was a sham; he felt the Council was making a gross mistake. A vote was taken and the motion passed unanimously 7-0. Next was Ordinance No. 27, Series of 1990, second reading, an ordinance amending Chapter 18.04 of the Vail Municipal Code by the addition of Section 18.04.035 Brew Pub; and amending Section 18.28.030 of the Municipal Code to add Brew Pub as a permitted use in the Commercial Service Center zone district; amending Chapter 18.28.040 of the Vail Municipal Code by the addition of Brew Pubs that sell beer wholesale and Brew Pubs which sell fifteen. percent of the manufactured beer or ale for off-site consumption as conditional uses to the Commercial Service Center zone district; amending Chapter 18.28 of the Vail Municipal Code to provide certain restrictions in the operation of a Brew Pub; and setting forth details in regard thereto. Mayor Rose read the full title. Andy Knudtsen briefly reviewed the Code changes the ordinance would effect, and then answered questions of Council. Lynn Fritzlen made a motion to approve the ordinance, which Merv Lapin seconded. A vote was taken and the motion passed unanimously 7-0. Ordinance No. 31, Series of 1990, first reading, an ordinance amending Section 5.04.040 of the Municipal Code of the Town of Vail to provide that persons who short term rent units for less than fifteen (15) days per year shall be exempt from the payment of the business license fee under certain circumstances; setting forth new business license fees for people who rent less than three (3) units; and setting forth details in regard thereto, was next. The full title of the ordinance was read by Mayor Rose. Larry Eskwith gave background information as to how the ordinance came about. There was then some discussion by staff, Council, and the public. Joe Staufer felt the system could backfire on the Town. Jo Brown felt, originally, people started short terming because of a shortage of hotel rooms. Much discussion ensued by Council and staff. Lynn Fritzlen made a motion to approve the ordinance on first reading, which Rob Levine seconded. Peggy Osterfoss requested they add Tom Steinberg's suggested wording change in Section 1, of "per year per unit shall be." Tom then suggested the bed and breakfast ordinance be amended to exclude 15 days to make it equitable with this ordinance. After more discussion, a vote was taken and the motion failed 3-4, with Jim Gibson, Kent Rose, Tom Steinberg, and Merv Lapin opposed. Next was Resolution No. 20, Series of 1990, a resolution supporting an election to increase county sales tax in an amount sufficient to finance a county-wide bus system. Ron Phillips stated the County has requested each municipality to support an election for funding the county-wide bus system,. and that Don Welch was present to answer questions of Council. Don commented that Steve Barwick had been the Town of Uail representative in the planning meetings, and Don felt the Council was probably aware of the County's situation. Steve Barwick added the Transportation Committee's recommendations were for either a .4°~ sales tax increase to maintain the current level of service, but with no money going back to the municipalities; or a .5~ sales tax increase which would produce approximately $500,000 a year in excess funds to be returned to the Town of Vail and $100,000 for the Town of Avon. They asked Council if they were in favor of one or the other, or if they were not supportive of the election. Steve noted the Town of Avon had not decided yet. Jim Gibson felt a plan was needed first before going to an election so people will believe it will work, otherwise, the vote will fail. Mayor Rose agreed, and remarked the wisest thing at this time would be to not support the election, that it was premature to call up the issue now. Don Welch then made comments regarding how they got to this point. Ron Phillips backed up comments made by Don, and added information on the current system. Jim Gibson offered suggestions for a better plan. A member of the Transportation Committee explained the recommended changes in the plan. Joe Macy talked about the cost of fuel and its implications. After much discussion, Tom Steinberg made a motion to approve the resolution, which Rob Levine seconded. A vote was taken and the motion failed 3-4, with Jim Gibson, Peggy Osterfoss, Merv Lapin, and Kent Rose opposed. Resolution No. 21, Series of 1990, a resolution supporting the Black Lakes Reservoir Project proposed by the Vail Valley Consolidated Water District, with certain conditions, was next on the agenda. Kristan Pritz stated the Council had approved a similar resolution in 1988, but this one has been updated with new conditions. Ed _2_ r _ Drager, representing the Vail Valley Consolidated Water District, commented on the resolution and stated the conditions of Vail's approval were completely acceptable. Rob LeVine made a motion to approve the resolution, which was seconded by Tom Steinberg. Ed Drager then reviewed the repercussions of the the failure of the Black Lakes project, per Merv Lapin's request. A vote was then taken and the motion passed unanimously 7-0. The seventh item was action on the Town of Vail/Vail Metropolitan Recreation District First Addendum to Agreement. Larry Eskwith remarked the addendum added language requested by the VMRD Board, and he felt it was pretty self-explanatory. After a short discussion, a motion to approve the addendum as presented was made by Lynn Fritzlen and seconded by Tom Steinberg. A vote was taken and the motion passed unanimously 7-0. At this time, Larry Eskwith asked Council if his drafted letter to Abe Shapiro, which Council received in their packet, was acceptable to send. Councilmembers agreed it looked fine to them. There being no further business, the meeting was adjourned at 10:40 p.m. Respectfully submitted, Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk Minutes taken by Brenda Chesman -3- RECD SEP 1 31990 JAY K. PE'rExsoN ATTORNEY AT LAW T E LE PH O N E SUITE 307 VAIL NATIONAL BANK BUILDING 13031 476-0092 108 SOUTH FRONTAGE ROAD WEST FAX LINE JAY K. PETERSON VAII„ COLORADO 81657 13031 479-0467 MEMORANDUM TO: RON PHILLIPS, TOWN MANAGER, TOWN OF VAIL FROM: JAY K. PETERSON DATE: SEPTEMBER 13, 1990 RE: ORDINANCE NO. 32 (SERIES OF 1990) Dear Ron: Pursuant to directions from my client, M-K Corporation, we hereby withdraw our application for change of zoning as set forth in Ordinance No. 32 (Series of 1990). As the applicant's representative I hereby request the withdrawal of our application and also the withdrawal of Ordinance No. 32 (Series of 1990). If you have any questions please contact me at my office. ~ LAW OFFICE OF REC'0 AUG 2119 • JOHN L. KEMP, P.C. 905 GRAND AVE., SUITE 2 GLENWOOD SPRINGS, COLORADO 81601 TELEPHONE: (303) 945-2223 August 20, 1990 Mr. Ron Phillips Town of Vail 75 South Frontage Rd. Vail, CO 81657 Re: Purchase of Holy Cross property at Red Sandstone Creek Road. Dear Mr. Phillips: My client, Holy Cross Electric, asked me to revise the land contract which you sent us several months ago and to forward two originals to you for the Town to sign. Those two originals are enclosed. The revisions to the contract are not extensive. In the main body of the contract we corrected some of the figures in Section 3B of the contract where the balance due on they-note reflected an incorrect amount and also resulted in a change in the amount of the installments. Other than that the changes are mainly set forth on Exhibit B. Also, Exhibit A needs to be added to the contract. This is the legal description which is the product of your survey, and I understand that survey is completed so that you can attach the Exhibit. If the contract is acceptable please sign•it and return it either to me or to Kent Benham, Assistant General Manager, and Holy Cross will have its officers sign the contract as soon as possible. If you or Mr. Eskwith have any questions about the contract please feel free to call me. It has been my pleasure to be of service to you. Very truly yours, ~~1 John L. Kemp JLK/kcg Enc. cc: Mr. Kent Benham r' _ t ~ Tha prinlyd pnr,lunw of thi. form rpprn, ad In tha I • I l'ulundo It.•nl E.1 ¦te l•numd+wlon 1~(' Y6-Y•MI I • IRIS IS A LEGAL INSTRUMENT. IF NOT UNDERS100D, IECAI, lA% OR O111ER COUNSEL SIIOUlO BE CONSUI.IEO BEFORE SIGNING. ; I. VACANT LANU CONTRACT TO BUY AND SELL REAL ESTATE I (Seller's remedy limited to Liquidated Damages) :1 ; 'I 'fhc undcrsil;ned u{;ent hereby ucknu?vledl;ea hnt•iul; received front ..-~oW1l_..Qf,-Vail,... Colorado tltt•.tlnt „r;;1,00Q.0~1.._._ , in tl,e r„t•nt t.r _a_rheck , t..I,e herd by Seller , tl I )LKK$eXX6cOCl)4XkW~lvcohxpietD000XOt7CXCCX7oxOtCO~oX ox eornt•.1 Inone~• stud earl po~•ntt•Itl fur the fnllu?viny; :It•a•ril~?•:I rt•al • . eslnlcrnlhe..__-_-.--- Counl~•uf Eagle.. .('ulut:ulu,lu?vil: 1 I! All of t~llat certain real property as shown on that certain survey plat • attached hereto, and incorporated herein, as Exhibit "A". ' ' I, I I lo~elher tvilh all easements and ril;hls of ?tvty apput•tenunt thereto, all impruvenurnls thereon and all fixture. of tt ! permanent nature currently on the premi~e9 except us hureinuflrr provided, in their present condition, urdinar~• tve:u• and tear rxceplcd, and Itcrcinufler culled the 1'ropcrl~•. EI 2. Subject to the Irovisions of pnra>;ruplt l7, the undersigned fnxxtxtts9 Town_of Vai]., Colorado- _ -•--...r.- ._EikS?~Hh[tElfiStGO)7X'Xtx]4HttUC?ttCP]Hm)iK00,ltt•rt•inallt•rcallt•d li 1'u rrhaser. hrrch~• agrees lu buy the I'ruperly, lux) the ulnlersignetl o\rncrls), hercinufler rolled Seller, hcrel,~• ugr~•es j: to sell the Property upon the terms turd t•undiliuns staled herein. • X565 500 00 1 000.00 :1. 'T'he ptu~chnse price shall be U.S. , i___..r_._..... • ptt}'tthle n. fullu?vs: hereL~• reeeipted fur; I (provided, that upon closing of this sale, Seller slta].1 pay or credit the 1'urcltasdr with interest on said $1,000.00 at 8}7, interest from the date of receipt of earne money deposit to the date of closing); A. A further payment of $55,500.00 shall be paid to Seller in cash or certifi u , funds upon delivery of deed; j~ B. The balance of the purchase price shall be paid by Purchaser executing andi~ delivering, at closing, its promissory note secured by a first deed of trust on the property in the principal amount of $509,1900.00 payable in install- ' meats as follows: The remaining principal balance of $509,000.\00 shall be I~ payable in amortized annual installments, due on or before the anniversary) each year of the date of closing, including principal and interest at 8}7 per annum, said installments shall each be in the amount of $63,543.56; a total of 14 amortized installments. i1 1: 1 i 1: I •1. f'rirc to include: None • I~ and the Tullo\einl; a•nlt•r riF;hls: None I. is I it 3. If:? new loan is lobe oblaioetl by 1'urchuser f1•om n third party, Purchaser al;rees to promptl~• and diligenll~• lal i I opply for such loan, (b) execute ttll tlaetnnrnls turd furnish all infnrmalion and dut•untentq required b~• lhr Icnd?•r, and I (cl pny ?Ite customary costa of obtaining sut•h Ioun. Then if::uch loon ix not approved un or before _-r.L~._.-_..._. I la„or if so approved but itt not available ul lime of closing. this t•ontrut•t shall be WWII and void tun) all pn}~nu•ntx and Lhings of value received hereunder shall be returned to I'urrhnser. ~ i 6. If a note and trust deed or morlttat;c is to be assumed, Purchaser agrees to apply fur u loon assnmplion if required and agrees to pny a loan transft:r fee not to t:xrecd E n/a and (2) an interest rule i not to exceed n/a % per annual. if the loon to be nasuntcd has provisions for a shored equity or variable interest rotes or variable payments, ibis conU•ucl ix conditioned upon Purchaser revie\vinl; and consetiling to such provisions. If ?he lender'ts consent to n loon assumption ix required, Utia t:ontrucl is t•onditioncd upon obtaining sut•h consent without change in the terms and conditions of sut•'b loon except ns herein provided. ' i. If a note is to be nuulc pua•nble to ~cllcr ns partial ur full puynu•nl of the purchase prim, this t•unlt•at•t shall nut be uxsf{;nuhle by 1'u rchaser without tcritten consent of 5ellcr. 8. Coq) of any uppruilsul for loan purposes lu br ubhtined after thix dole xhull be pttiQ h~• n/ a ~ ` _ _ tl t\O. ~t~ ZG-~-Ill. t'nnlnrl to Ilu? nad!:rll pant F:«IaH•,\'nranl Lnndl hr,ulford l'uLli>Inu¢ t'o..:.>`-'• 1\', ut L .\cr.. Lul,vwuu.l, l•ulul n,la Ally1 1 C:u:L ~att.,::nw I•N: ' !t. ,\n nhstrncl of Mlle to lho 1'roperl~•, c•crtifird to datr, nr a rurrrut. conuuiUnrul fnr Lille insurance pulie~• in nn ttnu,unl vqunl lu the purchose price. nl ticller's option sued rxprnse, nhnll he furnlshwl to I'urrha,+er on ur before 10 days prior •to cl_osing__•_xx~,xxx,lf~r•Ilcrt•Ir•rt.tofurnishs;sidtiUcins«runcecuntmitnsent.Sellcrtt•ill drlivr•r lho titit• insurance pulicr lu I`ut•chasor nftt•r rlnsint: and pn~• lhr prrmium lhcreatt. II .I lA. '1'Itc dolts of clusint; ~hnH hr thr r{arc far dotivvr~• ul' fiord ns pravidrd in parny~rnph I I.'I'hc hour soul place of it r•Ir,sint: shall br sts dt•silatnlcd 6~• Purchas~lc ana Seller to.. be., 1'veld w~x.hin .6 mgn.ths.._from signing of .ltraCt. I I. '1'illr shall bo n+rrrhsutlahlt• in tirlls•r,t•xcopt a+.• slnlr•d in this parat[ralrh surd in p:u•as:raphs 1'd and I~i. Subject I' . In pstrnu•nt ar tt•nder us abuvo provided nn,l cunsplianrr L~• Purchaser «•ilh lhr uthr•r lt•rn,~ and pru+isions hereof, . tit•Ils•r shall oxrrute and deliver a I;uod un,l suffirirttt •getlgTal tv:u•rsutt~• decd to 1'urchnser on .•.clos.ing .date.._ I;t or, b;; mutual a{:rt•vn«•nl, nl :ur curlier dale, runve~•in~ lhe.lh•npert~• free and •1 •i tdt•;u• of nl{ taxt•s, rxcrpl the I;cnt•rnl taws for Iht• ~•our of closing, and axrept _ frcr nod rlour of all lions far sprt•inl impt•uvrnn•nts instuNrrl ns of lhr dolts of 1'urrhnsrr's MlQhllttlt'l• Itcrrvrn, whethrr ~s ussossrd ur Hal; frog surd clear of nil iious and encun+Lrunros t•st•opt, none, but this Contract is sub j eCt:+ to'approval by the Rural Electrification Administration of the United States and `.t release of its common mortgage. t•xcopl I he follot+•int; rrstrirtive covenants which du nut contain n ril;hl of rrvorler: those of record ttnJ oxropl lho fullo+t•inl; specifit• rrcurdrd aurLur npp:u•vnt ousou+onts: those of record and suLjrcl to huildint; uhd zonin{t t•et;ulntians. 1'~. i•:xcept as sUttrd in psu•n(;rnphs I 1 and la, if line (s nnl merchnntnhlt• and tvrillen notice of defect(s) is(;iven b~• j ~ l'«rchttst•r ur 1'«rchstscr's al;ent to Sr11rr ar tirllrr's nl;rut un ot• before dnlo a( cluxhtt:, Sellrr shall use reasonable i ofl'urt to correct said deferl(sl prior lu dote of clusiny:. if tivllor is unable to correct said defecUsl on nr before dole of iI clusinl~, ut Sitter's option and upon written nolico to I'urchasrr or 1'urchnsor's agent ou ur befat•e date of closing;, the ; I d;tlo of clusingr shall Lr eslensled lhirly dn~•s fur the purpo~o ul'currccting; said defecl(sl. l:xrepl as slated in parug;ruph tj Isl. if title is nut rendered nserchnnlnhle as provided in ibis paragraph I't, :tt I'urrlutser's option. This conUacl shall be I • void soul of nu rffcrl and carp parl~• hereto shall he rcleasrd from nil ublig:ations hereunder and nil pa~'menls and lhint;s al'vatue rccrival hereunder shall be rcUn•ned to t'urt•hascr. Ia. :\tt~• eneumbrnnct• req«irerl lu he paid nt;t~• he paid al the lima ul' scltlenu•nt from the prnrerds of this lt•amuclion or frotu an~• other suture. I'ruvide,l.itmvcvor, at thr option s,f cithet• p:u•t~•, if the total indcbledness sos~urrd b~ lion: nn I hr Ih•operl c exceeds rho purchnso pris•o, t Isis cuttU•url shall he void turd of nu effet•t a«d eneh pnrtp h+•rrtu.hssli be rt•h•a,t•d from nil ohligs+lions hereunder and alt pa)•snents un•1 things of value received hereunder shalt • hr returned la I'urclusser. I I. Lenora) hues fur the ~•e:u• of closing, bused on the nu,st recent Iev~• surd the mull recent nssessntent, prepaid j ,t rents, tcntt•r roots, server rents, 1'11A nuu•tgagc insurance premituns and inlorest on cncumbrnnccs, if an.', and utilities p.ayabl~. by S~.1~,Q~'.~-•~~.._any-.._._. ..____tisssiihesspparlianodtodsslcofdelicer•}•ofdecd. :j R. I'ussossinn of the (h•uperl~• s;hnll hr delivered to I'urcl+s+ser utt 11 li subjrct In ths• (ullu++'htg Irnses nr lt•nunrios: none jt • ?I it ;t 1st. In the evt•nt rho Ih•opcrlc is ttuhstanliall~• dsututged L~• firsts, flood ar other en:cualt~• bcl.ecen the dale of ibis i eanU•acl tool tlx• rh+te of delivet•~ of drt•+I, 1'urchuser 115{5\' ricer to lermina1t• thix runU•uct; in which cure ttll pu~•ntcntts and t hing,~s of valve rcrcivrd hereunder shall be ret?u•ncsl to 1'urchascr. . I Time is of t he essence hrt•rof. if nn~• Hole ur check received us rnrnesl mone~• hereunder or an~• other lta~•ment due hereunder is nnl paid, honored ur lendercrl ashen due, ar if :ut~• oUtcr uhlignliun hereunder is nut performed as herein provided, there shall be the following rctnerlics: la) 1F 1'U 1tt:11ASF:11 IS !N llI;FAUl:1', lheu st]I p:,~•ntrnts surd things of value rerrirod heretuuler shall Le forfeiter{ hr I'urrhnser and retained on Lchulf of Seller and both pnrtics shall lherenftcr he rclrnscd from all I~ uhligaliuns hrre«udet•. It ix ag?•erd lhnl such pss)•ments and firings of value arc 1.1QUIUA'I'Ell UA~I~CES and I' lexrept ns provided in subpnrugrnph (c)1 ore the SI•:I.i.l:lt'S SU1.1: A\U ONLY It~rl[:Ul' fur the 1'urcl+aser's t; failure la prvfurnt the ohligallons of ibis eunlrnct. Keller expressl~• ttwives Ute renwdies of specific prrfurot:urce and addiliunnl danwttos. lbl I I' KISI,1,1•:R IS IN UI:1~ r\lll:l'.lll 1'sn•r•haser nta~• rlet•l to lrcnl this: cuntracl nx lrrminaled, in tvhirh ruse all pa~•monls and Things of value received hereunder shall be returned l0 I'ut•choser and i'urchuser ut:rc recover s«ch danrtgrs us nut~• be lu•opcr, ur l•'I 1'«rch:tsrr ut:+}• rlerl In trrut this contrrtrt as bring in full fnreo suttl effect and 1'urrhnsrr shall have 1 he right to an acliutrfut• specific perfornuutee ur d:unages, or bath. trl An~•Ihiny: to lhr runU•ttr~• herein nota•ilhslnnding, in lhr evont of un~• litigation arising out of this • eontrurt, the court utny aavu•d to the precsrilin4 pnrt~• all renson:rblr costs and expense. including utlarne~•s' fees. I) tst. 1'urchnser surd Seller ngrre tlutl, in lha evonl of un~• coot rovers~• rrgurding; the au•nest ntune~• Itrld b~• broker. I j «nless nmlual a•ritlrn insU•urlion in received I,}• In•uker, Lroker shall nut hr required to take am action but nrn~• ua•nit I~ tut~• proceeding, or al I+rokrr's option and discrt•tiun, ma~• intt•rplrnd nn~• nunte~•s ar things of vuhte into court stud ma~• II reruverruurl casts and rensonublr altorne~•s' fees. 11 I. :I li 18. Additiunnl pruviaiunx: ~I See attached Exhibit "B" for additional provisions A through ill. I I .I i~ I + I ~ ; I i I ;1 8ocxbtztc>x~,xo~xoc~dAgxotxlCt`c•K~b~.~aKao~xxoa~K~lcCtuax•kxa[xxt,uticvcxx,~s~4tsu:ad?[:~~xh~xat~Kat~~catacuK,xts~rCtrx•x ~ i xxxxx XXXbXY_XXXxXXX }CY.XXX,)4Th~:+'C76xtH']OxPt•Yf Y.XhGN ECb4}tHDtlxX,xXxQ4}t44}d3(7C4Cti4}4}+S,}7kx 7416}{J{'X,YZC}FaCI?C,x~C,YcK~Q H~XUc ian~oxxxxhuba.^cocfaxodia.i~ni:xucscsxt~xx:cx~xGc~ti•~aoxxtk~cack~xear,~xavcxpaxl~sxX:M~[ct}~xpexxp~ntgl~xx S4I+IN~_tiAZL, ~D.7~S?I31~ll~ X4i~xRti3t• . . I'urvlu,rrr Ih,~,• I~ t3v : :IDt~- - i . I';,,,,,,„~•~ Title of Signator . I 1'w~rl,nscr'SA,1,1,•~h~ 75 South Fronta~Road.. • Vail, Colorado 81657 CI'he follue•it,t;::ccliun lu Uc cumj,it•led by 5cllcr nntl l.ixlinl; Aticull ~ i li. Srllcr nccel,ts lht~ nLu~•c prolx>xul this d„~• of . 11)..-., B,~iKsY•µfKt~Gx i Ll4?wAaC]Cx~41iil6H,tCtiXJiKJSXXXXXXXXXXI~rX,x){YiH~4HFf.4i76KJCIlGXJi~CIYKXJ[X}i•~~1C144CQI~WCPi14xlGK•Ki ?I~Gl'i,~kbZ~F8+X~47GXKXY7ClYax tx7axottldkMxwlt~~t~cxeext~~aMba~t,5c,x}cx,YxxDcxxxi~pta4xDtl1•i~rH~ca~k•];~iaGxK~6xxiHt4~aliXAGHXK?'cJkX~Kt~G~9xatRK:~7Ka4x ' • tiixo,ixdckomcvexxi5xtri[ct~kasr~exxcrkYe,•Ikx~axoe~dxot>~mtuex,xnCzxxu~ti~xa4aexXaoxnxecxx~earattxntxxxr~nttxatxt~~ax~tz~c ; txda~xxXa5lodkzx , HOLY CROSS LLECT1tIC ASSUCIAI'IUN, INC. BYE x_..__'~it`Ie of Signator ' ScUcr'sAddress . ___..Glenwo.od.._ Shrines. Colorado ~ IStG[IdAll($YI,t6i'Xx~tilcnmascxtd~alokCcKa~_ i I 1 i I: . ~i i i 1 i ~i 4 ~ EXHLBIT "B" A. The promissory note and deed of trust set forth in paragraph 3B hereof, shall be prepared by bond counsel and shall be submitted to the Purchaser and Seller a reasonable time before the date of closing for their review. This contract is conditioned upon such documents being acceptable in their terms and form to Seller and Purchaser. B. This contract is conditioned upon Purchaser obtaining and delivering to Seller, at or before the date of closing, an opinion letter from bond counsel, Tallmadge, Tallmadge, Wallace & Hahn, P.C., that upon the adoption, execution and delivery of the purchase money note and deed of trust, such documents shall be valid, binding, and enforceable obligations of the Purchaser in accordance with their terms. Furthermore, the certification of the opinior. running from bond counsel to Seller must be in a form satisfactory to Seller's attorney. The legal services of bond counsel shall be paid for by Purchaser. The Opinion Letter shall contain a statement that bond counsel is representing Seller in this matter irregardless of the fact that Purchaser is paying the fee. C. This contract is conditioned upon approval of such by the Town Council of the Town of Vail within 30 days after it is signed by both parties. This contract is also conditioned upon approval of such by the Rural Electrification Administration within 60 days after it is signed by both parties. Such approval shall include both the right to sell the subject property, and the right to utilize the net proceeds of the sale by depositing the same in the Association's Construction Fund-Trustee Account. D. Seller shall use its best efforts to obtain a deletion of standard exceptions 1-4 from the title insurance policy to be delivered to Purchaser in accordance with paragraph 9 hereof. In the event it shall be necessary to obtain any type of survey to obtain the deletion of such exceptions, such survey shall be procured and paid for by Purchaser. E. The parties hereto acknowledge that Purchaser will perform or cause to be performed at Purchaser's own cost, no later than 30 days prior to closing, an environmental survey and analysis which, at Purchaser's option, may include an analysis of asbestos, PCB in various forms, or other hazardous substance as Purchaser in its sole discretion deems necessary. If the results of such survey and analysis reveal unacceptable levels of hazardous substances, Purchaser shall determine in its sole discretion whether or not to purchase the property which is the subject of this contract. If Purchaser elects no to close on this contract, the earnest money deposit made by Purchaser pursuant to paragraph 3 hereof, shall be refunded to Purchaser and .thereafter neither party will have any obligation to the other under this contract. F. Seller shall be entitled to reserve an easement on Seller's standard .form, up to 25 feet in width, for the continued location, reconstruction, enlargement, operation, maintenance and removal of an underground and/or overhead electric utility line that presently exists on the subject property, and Purchaser .agrees to grant such additional easement for such line, if needed, within an adjacent abandoned roadway along the east side of the subject property. G. If, subsequent to closing, Purchaser desires. to underground or relocate that segment of the existing electric utility line which crosses or is adjacent to the subject property, Seller agrees to do so, provided that the full cost of conversion shall be bourne solely by Purchaser. Such cost may include the conversion, undergrounding or reconstruction of other electric facilities located on other segments of the existing electric utility line which are off of the subject property, the conversion, undergrounding or reconstruction of which are necessary in order to underground that segment of line crossing or adjacent to the subject property. H. As a modification to paragraph 10 hereof the parties agree that Seller shall have the right to designate that the closing shall be held in either the month of December, 1990 or in January or February of 1991, but the specific date of closing within the month so designated shall be selected by mutual agreement of the parties. • w • r---- _ _ _ ~ 1'hrprlnlydpnrllunwrhhi+rurn,rppru,edh7lhe ('olundo Ilrrl Y.Nrtr {bmndwwh.n 1\! • is•2•M 17 TNIS tS A IEGAi INSIRUh(ENT. tf NOT UND[RS100D, IEGAI, lA>< OR OTIIER COUNSEL SlIOUID BE I;OHSUI.lED BETORE SIGHING. I; VACANT LANU ,i CONTRACT TO 8UY AND SELL REAL ESTATE (Seller's remedy limited to Liquidated Damages) j . , 171 ; 1. 'fhe undcrsil;nl:d uy;en( hel•eby aeknu\rledt;ea lut\•inl; rccrivod front ...~2r1._..Q~.. Vail,,,_ Colorado 'I thc•.um of $1 ,OOQ,~~.._._ in the form of _n_~beck .....(ul,l.llt•I111,~• Sellex ' 'I I ~OCllbaxXGC~k7okOC~VCOFYO~iD(IXOOXQi70XbC7E70xOt00Ak :1~ cau•n!•.1 mone~• WWII lru•l 17n)•mclll for lho fullu\vinl; tlt•,cril,t•tl r!•nl , cslnlclnll,e.._-_._._.-. Counl~•of ~~$~2.. .('ulurndu,luwil: f~ All of rl)at certain real property as shown on that certain survey plat . attached hereto, and incorporated herein, as ):xhibit "A". r. - I I toy;cther \villl all easements untl ri~hlx of \vay appurtenant thereto, all impruvenurnlr thereon and all fixturc,t of u I pernlnnenl nature, currently on the premi:;es except n:c hureinufler provided, in tllvir prexent condition, nrdinury \ceur and Uvu• escepletl, laid hereinafter culled the 1'roperl~•. , l 'L. Sul,jce•l lu the provisionsof pnrnl;raph 17,the undlzr~it;ned pixxo(KsD TQWh O~ Vai):-. COlOCadO. . . _ - -_E+]iC?QHI:oZ}4HCm414~(bt+HXMDtXIxtKiHtq)1tN0,h!•rt•inafl!•rcull!•d I~ ('urchnser. lu•reh~• u{lrceg to bu}• the 1'ruporly, and (he nnd\•rsit;ned na•ner(s), hereinnflerc•allcd Seller, harel,~• al;rcc. li 1 loscll the !'ruperl~• upon the leans and c•undilionti,tated ht•rcin. ~ a. 'I'hc purchase nice xhull be U.ti. s 565 500_ _00 1 000.00 l+ i ~ i _ . . pa~•uldc us fullu~\•s: hcrch~• rt•rcipled fur: (1\rovided, thaC upon closing of this sale, Seller shall pay or credit the 1'urchast~r with interest on said $1,000.00 at 8}% interest from tl?e date of receipt of earne t money deposit to tl)e date of closing); A. A further payment of $55,500.00 shall be paid to Seller in cash or certifi 11 funds upon delivery of deed; ~I B. The balance of the purchase price shall be paid by Purchaser executing andi~ delivering, at closing, its promissory note secured by a first deed of trust on the property in the principal amount of $509,800.00 payable in install-•~ meats as follows: Tl)e remaining principal balance of $50,000.00 shall be payable in amortized annual installments, due on or before the anniversary each year of the date of closing, including principal and interest at 8}% per annum, said installments shall each be in the amount of $63,543.56; a total of 14 amortized installments. 1 i I: i• ( 1 4. Price w include: NOne • cu?d the fullu\\•in{; w•uler rlj;ht>,: None ~ 1 •i 5. If n ne\v loon is lu be obUlined b}• 1'urchuser from 11 third party, i'urchnrer nT,•rcex to p7•owptl~• and diliT;entl~• (a? ~ I apply for t;uc•h loan, lb) execute all daeumenls and furnitih all information and docunlenlx 1equired b~• the Iend(•r, and II (c) pay the customary CU9LA of Ob(11111111{,r Rllrh loon. Then if such loon is not approved on or before __~'1.L~.-...-_..._.. 171_, or if no approved but is not uvuilnWe at tinge of rhsxinl,•. thiK c•nntruc•t !!hull he nu!! and void un+l all pu~•nu•n l+ and lhinl;s of value received hereunder xhull he returned to 1'urclu?s(•r. ° I G. !f a note and trust deed or nta•t):ugc is to be uasunled, Purchaser agrees to apply for a Inns nssnmplion if required and agrees to pay (I) a loan transfer fee not to exceed; n~a and (2) nn interest rate 7: not to exceed n ~a 9b per annum. if tl?e loon to Le assumed lids provisiun~ for s shl?red equity or variobte i~ interest rates or variable payments, this runtrnct is contliliuned upon Purchaser reviewing; lull consentin{: to such provisions. If the lender's consent to n loan assumption ix required, this conU•nrl isa conditioned upon ublainin),r ouch consent \vilhuul chan>;e in the terms and conditions of each loan esc•ept ns herein pru\•idrd. • i. If a Hole is to be laude Ally{1141' tt7 lellel• 118 g)ar(Ii1) /H' f11J1 hit\'tlll'llt of lbe purchn::e price, this contrnc•t !shall nut ' be ass{grnuhlc by Jhn•chnser wllhuut w•riltcn conxenl of tiellcr. S. Cost of any appraisal for loan purposes to be obtained niter thi7c dale xhnu be paid by Ar'8 !\D. ~C $0.2.11 T. ('nplrrr7 7u Ilu} rnd 7x•11 Rrrl F:rld• t\'rrarl Lrndt hro,llnrdl'uLli.h,ucl'....:.~_:.1\'.,:Ih.\tv..l.ulrw.•,..Lt'ut..,u4nwn.lt ••,:IU:UY:1a0;nw 1.,2 t / !I. An sthstrnc•l of title to the Ih•uprrt}•, c•es•lifiod to dole, ur rt c•su•reut conutsiUncnt far title inaurunrr pulic~• in nn amount esluul to lhr purrhnsr prier, ul Kcllrr'a option ur.d cspenac, nhull be furniahcd to 1'urclutarr on or before 10 days prior .t0 C10S.ing __._xX~cXx, If feller elects lu furnish acid title inaur:utce casnmilnunl, Seller twill delit•rr rho title insurnncc• polic~• lu I'urchsaer nflc•r rlosinl; +nul pa~• lhc• premium thereon. II .s Ill. •I'he dole of rluain~ :;hall he lhr dole far delicerr ..f doed as provided in p:u•a{tsvsph 11. The hour surd place of it quaint; ahnll he ua deai~nnled h.• PurCbastZ);' and. Seller to. be.. j~eld w~,x.tt~p..6 mpnths__f,~om signing of :ltract . 11. '1'ille alsull Le nterrhnnluhh• in tit•Iler, e~cepl as sl;sted iu this parn~raph and in pasa+:rapha I l and Ia. Subject I' la pn~•nsenl nr lender xs nhuve provided and cuuspliance Lr I'urchaaer »•ith Ih+• other lrruu and prociaiuns hereof, . Seller .hall esecule and deliver a l;und onsl auffiriessl .$engral warranl~• deed lu I'ura•hnsrr on . ; • .clos.ing _date-•_ 1:1 ur, b;; mnlunl u{;roenu•nt, ul un earlier shtlr, cunt•c~•in{t thr.l'ropcrty free and '1 clwu•ofalllaees.eecepllhe.t;enernllu:cr4forlhe)•e»rofrlusina;,nndrsrcpt t free and rlru+• of all liens fur xpecinl Insprovenu•nla in~lullyd na of lho ,hslo of I'urc•hunrr'a ,sttcnnlurr hereon, a•lurthrr naaeaaed or not; freo and clear of »11 lion:: and rnrnmlu•anrea except, none, buC this contract is SuV j eCt:+ to'approval by the Rural Electzification Administration of the United States and release of its common mortgage. • except the follott•in~ reaU•iclicr cut•cnunla which du nut cunlain» rit;hl of reverter: those of record un.l osc•a•pl the follotci»l: apea•ific rea•nrded nnd,or upparcvtl onsenu•nla: • those of record turd +uL,jrrt la 6nildint; and zunin>; rr~;ululiona. 1•_'. Farrel na xUtted in puru~rnphx I 1 and 1:1, if title la nut mrrrhunUshle and written notice of drfra•lls) Is(;h•en b}• f 1 1'urchnaer ar I'urchnacr's n~ent to Seller or Seller's stt;ont un as• before dote »f clusinl:, Seller shall use reusonablr II effort to rorrrct said drfea•t(s) prior lu date of cl»ainl:. If Seller is unable t„ correct s»id drfecUxl on ol• before date of I cloain~, ut Seller's option and upon tvs•illen notice l0 1'urchaaer or 1'urch+ucer's a~rnl ass ur before date of closin{t, lhr ;I dart of closi»IC ahnll he cetended thirty dn~•s I'or the purpose of correcting; a,tisl defect(s). L;xcrpl na :toted in paragraph 1:4, if title is nut re»slerrd nserchunlahle as provided in this p:n•agrnplt IY, at Purchaser's opliun, this t•onlracl shall be 1 void and of nn e(fecl a»d e»ch p:u•l~• hereto ahnll Ise rrleasod h•om »II uhligatlions hereu»der scud all pa~•ments and , llsinl:a of valor received hrrrundrr shall hr returned to I'urchnacr. I:I. cncumbrnna•c t•c,l»ircd to he paid nrn~• he paid ut tha linsy• of arlllenu•nl from the prut•ccds of this tr:us-.•ncliun or trans stn~• other auurre, Provided. hutvever, al lhr option of tither purt~•, if the loln) indehtednrss urcd L~ lien. nn I ha• 1'roperl r~ceeda the purclusae price, 1 his cuntrue•t ahnll hr void and of nu effect a»d ends purt~• hereto shall he roleaacd fruns all ohligcationa ht•reundc•r and :III pn~•nsenla :us•1 tlung;a of t•nlue received hereunder shall • he srlurnwl lu 1'nrchaarr. 1 1. (~rnrrsl ta~ea for the )•rar of a•lusing~, bused nn ll»• nsuat recr»l Icv~• :uul the moll recent +tsarasnsent, prepaid i rs•nla, scaler rents, aca•er rents, I'IIr1 nuu•lg;ag;e inaurnnce premiums and intoreal on rncumbrnncrs, if sus~•, and utilities p.ay.~b~~_.}2.~C._ ~.~.Z~.~T..,..~.1~.._ any . .---•I,afl br ssppn+•tianed to d;,tr of drlivrr~• of deed. :I 13. 1'uaaoasion of the I'roperl~• ahnll hr delivered to I'urcls:saer on I~ jl +nhjecl lu the fnllotcing~ lenses ut• lonunclc•a: none ~I i+ ~s Icy. In the ovrnl the Ih•aperl~• is xubalnnliull~• ,l;unng;esl h~• fire, flood ur other c•aaussll~• bcltvrrn the dssle u( this i eosslrnrl and lho ,hste of drlivrr~• of deed. I'm•c•haaer +ua,r elect to terminate this cunU~ucl; in tt•Isich curt all pn~•»senls and lhing:a of vnlur cec•rivrd hereunder shall he returned In Purchaser. 17. 'I'in,e i. of t he essence hereof. 1 f nn~• Hole nr check received ns rw•ncal r»n»e~• hereunder or an~• other pa}•mrnt , due hereunder is nut paid, honored or tendered tchrn due. or if an~• other uhlig;alion hereunder is nut prrformeel as . herein provided, there shtsll br the following renu•dics: , (al II' 1'UKCIIASF;R IS IN UIsl'AUI:I', then all psgmcnta and thinks of vnlur received hereunder shall Le jl forfeited he 1'urclutser and retained on behalf of fiellrr a»d both potties shall thereafter br rclrnsrd from all it ubligutiana hrrrundrr. ?t is agreed llutl xua•h pn~•mrntx and things of valor nrr 1.1(2UIDATEll UA\1ACES and U•scepl us provided in subpnrsigralsh (r)) ore the SF:I.I,l;lt'S SULI; ,\\U ON1.1' ItEr`1F;U1' for the Purchaser's faihu•o lu perform the uhllg;ntlonss of ll?ia cnnU•ucl, tiellrr espreaal~ tt•nivra lhr rrnwdirn of ><pec•ific perfurnssutcr and uddilionnl dunu,~ea. lbl 11' Sh:l,l,l•;It IS IN UI~,I~AUI:I',ll) 1'urchaaer nsa~• clre•t to U•a•a1 this contract ar lerminssted, i» which case ssll ps,~•uu•nla and things of value rre•oivrd hereunder shall br returned t» I'urchaarr and : urc•haaer ma~• recover auc•h dnmsges us nut~• be praprr, or (''1 1'urchstaer nrn• c•lecl to U•enl llsia cunU•nct ns baring in full forte and effect and 1'nrs•hascr shall hate t he right lu sot nc•I ion fur rcpeeific• pcrfornuntco or danutg:ea, ur halls. tr1 An~•thing~ la the cunU•arp herein »ulct•ilhalunding;, in lhr rvc•nl of nn~• lilig;aliun arising out of this ' cunt tact, l hr court nut~• novu•d to the prrvssiling lun•t~• all ~ensonable costa and esprntcc, including allurnr~•s' fees. ~ i IN. 1'urchnser and Seller agree lhnt, in the event of nn~• cantrovers~• regarding the earnest sou»r~• held b~• bruke+'. li unlc•sri nnslunl tvrlttcn InsU•ua•lfon is rrrrlved hr lu•uker, broker xhall nut he reryuirrd to lnkc any urban but nut~• utvnil II an~• proeecding, or at brokrr':< opliun and dlacreliun, ous~• interplend nm• nunu•~•a or thinks of vnhsc into c•uurt and mng I recover court coos and rrnsonuhlr altorne~•rc' feoa, I I I . • :I 18. Addiliunulln•naiQion~: . See attached Exhibit "B" for additional provisions A through ~i. . I it I~ I I _ i~ I ;1 StXxCfzEcbc~,xogxx~d~IxxotxKoeKab~a~altao3d~axoa~K~kt+KUa~ckx3t~cxtuxiaxxx>xl4xrxod)c~lHhcxa;,~}cai~w~txacxK,xbaptanx•x i i _xxxxxxxxxxxxxxxxxXSC>cxxx~;4xac5axat•~axx'~axxh:•Hktr~xicvaaxix~sxaxamdxxscxaax33~1H~exuaKXX,xaCxa~~cpc~K~9x~tlx i ~xxx zh~xlxxuc k Kot~xizxccxsxotxxtixst~xDcn~xi~7ox x&,xa k~x~azi~s~cavcxpaxccxx~rt3axpcuxpsaupia~x S.41dN ~F vAZi„ S~J..~IlAll9 _ . x~txt~.x• . _ - - I'ur~~lu~.rr Irul r . 1~ ~ IIv : . ~FKX- i I'urel.u„r.• Til-le of ~ Signator Pulchnscr'sAddre~s 75 South Fronta-ge Road... .Vail, Colorado 81657 f'I'hc futlowiu{; ~ccliun lu be cumpli•lcd b~• 8cllcr and Lislin}t Al;ent) ~ i !1. 5cllc~c• nrcc•lits the rcLocc proposal I Iriz_..___~._ dn~• of . 19.._-.K~&KsY~?i~~X i' '~=WAK~dxXtt041tL1C~iK,}LkXXXXXXXXXlZXc)i?tYSK~5HP47G~iiDGX~4X3f1t1YKi4}{X}f14clC}4i'cOli`TsKIi'~SKr1CsH•]CYi tf~i14~{C6K&'E8Jf377G21KXDCD~YaX ~*cnxaa~ikl~aitxl4xJ~QKt~cxOCxllS?5}ixD4~Yr?~}CxiC7CxkAgx•]4Z•iS{~?GxDG}i3LH~Yk•X~fJGHtt~4x,~~GxpCtYltitXtYiHXKMr7(txXiRx~GZit~}L1Y:tiKP4x ~}i~d~xdckoaxvcxxi~xeirrucka~i~xxxLC~So-~hxwxoc~ixt~tbmtt+cxrx,~xxxNctkxudxXx~xbxxxx~ct~cD,~tetxxxnHx~atKxxxxtY.x I lxetxxx xa Stod kzx ' 1i01.Y CRUSS ):LCC'TItIC ASSUCIA'PIUN, INC. By: iI ..•u~•~ .x-._-'T-t~Ie of Signator ' Selte,•'sAditresa Glenwood.. SnringsLColorado • i' • ]dcocldx~~zo~ck~konx~axrdxlakhcxsfY I! i I. ' . ' i i~ ~i (i III EXHIBIT "B" A. The promissory note and deed of trust set forth in paragraph 3B hereof, shall be prepared by bond counsel and shall be submitted to the Purchaser and Seller a reasonable time before the date of closing for their review. This contract is conditioned upon such documents being acceptable in their terms and form to Seller and Purchaser. B. This contract is conditioned upon Purchaser obtaining and delivering to Seller, at or before the date of closing, an opinion letter from bond counsel, Tallmadge, Tallmadge, Wallace & Hahn, P.C., that upon the adoption, execution and delivery of the purchase money note and deed of trust, such documents shall be valid, binding, and enforceable obligations of the Purchaser in accordance with their terms. Furthermore, the certification of the opinion running from bond counsel to Seller must be in a form satisfactory to Seller's attorney. The legal services of bond counsel shall be paid for by Purchaser. The Opinion Letter shall contain a statement that bond counsel is representing Seller in this matter irregardless of the fact that Purchaser is paying the fee. C. This contract is conditioned upon approval of such by the Town Council of the Town of Vail within 30 days after it is signed by both parties. This contract is also conditioned upon approval of such by the Rural Electrification Administration within 60 days after it is signed by both parties. Such approval shall include both the right to sell the subject property, and the right to utilize the net proceeds of the sale by depositing the same in the Association's Construction Fund-Trustee Account. D. Seller shall use its best efforts to obtain a deletion of standard exceptions 1-4 from the title insurance policy to be delivered to Purchaser in accordance with paragraph 9 hereof. In the event it shall be necessary to obtain any type of survey to obtain the deletion of such exceptions, such survey shall be procured and paid for by Purchaser. E. The parties hereto acknowledge that Purchaser will perform or cause to be performed at Purchaser's own cost, no later than 30 days prior to closing, an environmental survey and analysis which, at Purchaser's option, may include an analysis of asbestos, PCB in various forms, or other hazardous substance as Purchaser in its sole discretion deems necessary. If the results of such survey and analysis reveal unacceptable levels of hazardous substances, Purchaser shall determine in its sole discretion whether or not to purchase the property which is the subject of this contract. If Purchaser elects no to close on this contract, the earnest money deposit made by Purchaser pursuant to paragraph 3 hereof, shall be refunded to Purchaser and thereafter neither party will have any obligation to the other under this contract. F. Seller shall be entitled to reserve an easement on Seller's standard form, up to 25 feet in width, for the continued location, reconstruction, enlargement, operation, maintenance and removal of an underground and/or overhead electric utility line that presently exists on the subject property, and Purchaser agrees to grant such additional easement for such line, if needed, within an adjacent abandoned roadway along the east side of the subject property. G. If, subsequent to closing, Purchaser desires to underground or relocate that segment of the existing electric utility line which crosses or is adjacent to the subject property, Seller agrees to do so, provided that the full cost of conversion VAIL TOWN COUNCIL BUDGET WORK SESSION THURSDAY, SEPTEMBER 20, 1990 7:00 P.M. AGENDA 1. Public Works Department Transportation Department Heavy Equipment Fund 2. Capital Projects VAIL TOWN COUNCIL BUDGET WORK SESSION THURSDAY, SEPTEMBER 20, 1990 7:00 P.M. EXPANDED AGENDA 7:00 1. Public Works Department Stan Berryman Transportation Department Heavy Equipment Fund 8:30 2. Capital Projects Steve Barwick Ron Phillips WORK SESSION FOLLOW-UP 9/14/90 TOPIC QUESTIONS Page 1 of 2 FOLLOW-UP SOllIT10NS 8/8/89 WEST INTERMOUNTAIN ANNEXATION ARRY: Proceeding w/legal requirements far Marijke Brofos will be circulating petitions. (request: Lapin) annexation. 2/27 SATELLITE POST OFFICE (request: ON: Pursue station "in town" and/or increase Meeting to be set up with Ernie Chavez. Summer bus service Osterfoss) summer bus service? increased. 5/1 AMEND CODE, 12.04.240, STREET CUT TAN/LARRY/KRISTAN: Per Council direction, proceed. Recommended changes to be presented to Council October 2. PERMITS 6/12 VAIL GLO SIGN (request: Levine) ON/KRISTAN: Through DRB, or some other process, Kristan has written a letter to Vail Glo. can the lettering color and lighting be modified? 6/26 AIR QUALITY USAN: Issue of passive smoke and smoking in Ordinance being developed .for Council review by 10/15/90. restaurants needs to be revisited by this fall. 6/26 TED KINDEL MEMORIAL ODD 0.: Track down ownership of land to the south PEC recommended Pirate Ship Park or Mill Creek area. (request: Rose) of the Christiania. If this belongs to the TOV, Council will discuss Sept. 25. begin to formulate memorial plan, i.e., park bench, plaque, etc.? 7/17 BIKES/ROLLER BLADES AND SKATES/ EN/LARRY: Should bicycles, roller blades, etc. be Researching appropriate ordinances for application in 1991. SKATEBOARDS prohibited from highly pedestrianized areas in the Village and Lionshead? 7/24 AG/OPEN SPACE AMENDMENT LARRY/KRISTAN: Legal research requested to make Research underway. Larry will report to Council. ORDINANCE AG/Open Space 35 acre minimum per unit. 7/27 UNDERGROUNDING UTILITIES IN LARRY/STAN: Work with Holy Cross Electric to Scheduled to begin this fall. EAST VAIL establish special improvement district(s) for undergrounding utilities in East Vail. 8/7 JOHNSON/GATES MEETING RON: Schedule discussion w/Bud Gates and Linda Will do closer to the election. Johnson prior to November general election. 8/28 FOREST SERVICE LAND USE STUDY RON: Staff updated boundary position statement to Letter will be written. Council for review. Can the Forest Service be encouraged to complete a fractional study, rather than waiting for the entire Gore Valley? 9/4 DRAIN IN FRONT OF CHAPEL STAN: Roadway breaking up/needs repair. Memo on the problem is forthcoming. (request: Lapin) WORK SESSION FOLLOW-UP 9/14/90 Page 2 of 2 TOPIC pUESTIONS FOLLOW-UP SOLUTIONS _ 9/4 BOARD OF REALTORS LETTER RON: Prepare letter to realtors re: deteriorating Will do. properties/aging condos - to ask for solutions to this perceived problem and their vested interest in maintaining inventory. 9/11 SALES TAX ON RETAIL FIREWOOD STEVE B.: Is sales tax currently charged on fire- Finance staff will compose a memo on current firewood SALES woad sales? Would an additional tax, in taxation. The Environmental Health staff will study the conjunction with the fireplace, to deter use issue of an additional tax to deter firewood usage. of fireplaces within the TOV be appropriate? 9/11 VESTED RIGHTS ORDINANCE LARRY: Schedule for evening meeting review. Will do. 9/11 RAISING FEES FOR PARKING FUND KRISTAN: Schedule for evening meeting review. Scheduled for Evening Meeting 10/16/90. CONTRIBUTIONS 9/11 ALPINE STANDARD REMEDIATION COUNCIL: If you wish to question Stan Reeves SPECIALIST further, who is heading up the remediation plan for Alpine, please appear in Community Development on Thursday, 9/29/90, at 11:00 a.m. . 9/11 DISCREPANCY BETWEEN SHORT-TERM LARRY: Schedule for evening meeting. Amending ordinance will be presented to Council at RENTAL AND BED AND BREAKFAST Oct. 2 Evening Meeting. ORDINANCES 9/11 JOSIE HEATH/HANK BROWN DEBATE CAROLINE: Request debate be held in a mountain Being addressed. community - Vail would host? 9/11 AMENDMENT #1 ON GENERAL ELECTION LARRY: Provide resolution in opposition to this Will do. BALLOT initiative. It's the moment you've been waiting far! - - DESCRIPTION: The No-Game Golf Tourney is the hottest golf tournament in Vail. A traditional event for all Tawn of Vail and Vail Metro Rec District employees, it requires absolutely no skill or previous experiennce. Winning teams are usually comprised of individuals who possess no abilities whatsoever! All full and part-time TOV/VMRD employees and their spouses are invited to participate. WHEN: FRIDAY, SEPTEMBER 28, 1990. TEE TIMES BEGIN AT 1:00 PM WHERE: VAIL GOLF CLUB FOR TEE TIMES PUBLIC ~ WORKS FOR THE AFTER GAME TEE PARTY - 6 PM. WHAT I5 EACH PERSON WILL GET 9 HOLES OF GOLF AT THE IT GOING BEAUTIFUL VAIL GOLF CLUB, USE OF ELECTRIC POWERED TO COST? GOLF CART, A TEE PARTY (FEATURING y A QUALITY GOLF SHIRT, A N D PRIZES, P R I Z E S!!!!!!!!! ALL FOR THE TEENY, TINY FEE OF $15 PER PERSON. RULES HOLES 1-4 BEST BALL: Each player plays out his/her own ball. Team takes best score. HOLES 5-9 SCRAMBLE: Each player tees off. The next shot is taken from the best spot of the 4 balls. This continues all the way through play. Foursomes must have a least 1 female. THERE WILL BE A PRIZE FOR THE BEST TEAM NAME, SO GET CREATIVE! JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ RETURN THIS PORTION AND YOUR $ TO LAURIE ASMUSSEN, AT VAIL REC. DEPT. BY 5 PM, TUESDAY, SEPTEMBER 25 (PLEASE BE ON TIME) TEAM NAME: DEPARTMENT: TEAM MEMBERS: 1. 2. 3. 4. Money included $ Tee Time preferences - 1-4 PM (10 minute intervals PM