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HomeMy WebLinkAbout2001-10 Authorizing the Conveyance of Fee Title to the Following Real Property Owned by the Town Of Vail And Located at 770 Potato Patch• • • SI+'.Iti1~,S f)1+ 2UU1 AN ()RDINr1NC1+. AU'1'ilOltlZiN(. TILE CONVEYANCE O1+ I+E~ 'I'ITL1~, TO `I'I111 1{()I,1,OWIN(, liI~:AL 1'lttl'l;,lt'I'V ()WNE:U 13Y'1"II1~1'1'O~VN U1+ VAIL ANll LOCA'ITf.D A'1' 77f1 NO'1'A'I'U I'A'1'('ll, MOR1~; Fi-I,I,Y [)h:~C'Itll31a;1) A~; 1+OI11,OW~: (:'are t~tlc(:r tutit 77f) I'olato Patch Urive [/ottdotttiniunts accorclittg to the Cundontinium map thcrcc}f rcarrdcd 1)cccanE~ea• 23, l()$2 itt I3ool< ~5{) at pagc 9{)3 an(l as tielincd in thr. t'ond(~ntiniuru f )cclttratiun r~corclc;d I)cccnthcr 23, 1982 in I3uulc 35{) Ott pagc ()U2, ('aunty cif E?aglc, 5t4tic o['C'.ol(>rado. VVI I1?IZI;A~, tltc "I•uwtt ol~ Vail is the owner nf•eertain property katown as rite C"are `I'aiccr l Jnit, 77{) Potato i'atclt Drive ~'ondontiniutt~s; and Wl I1 ~IZIs~15, thts untt wets arcluirecl by the 'I"overt uP Vail for $7(i,(}0{).UQ by Qttit CYlainz 1)ccd without dcal restrictiott conccrtting use or transic;a; anti W1 f I~,ItI?A.~ the last appraase(I value (tl the property is al}pt'OXlltt~ltely 9;215,(}(1(}.(?(}; and WI Illtl;n5 rite ntunthiy assessments and special assessments are excessive lot' utilisation as art cntploycc h(}using unit; attd W E II3R1;A5 the sale of this unit would I~rovide an upporttutity to add an additioatal tttlit or tutus t:ltat wuulcl iitnc;tiort store appropriately as housing; I~n• entpluyec:s; NUW, "CI l1?IZil~Ulzl;, 131; I'1' UIZll~1INI.;D I3Y'17IL 7'UWN ('UUNCIi,'I'II1/'I'UWN Ul~' Vnli,, CUI,UftAU[) thrtt: 1. 'I']te'I'ctwta C,utattcil hereiiy approves this sale ol~thc property. 2. Alicr the'l~own (_`ouncil approves the coattract l~tr rite sale, the Town Manager is Itcrc~hy authorised ~tttci clircctcd to execute such instrttnleatts olconveyat~ce as are appropriate to cuatvcy [ce title front rite 't'own of'Vail to rite purchaser. 3. I l• any part, section, subscctiott, sentence, clause ot• phrase of this ordinance is I:ur any reason hrld irz Etc invalid, such decision shall not al"I~ct the valiciily oFthe remaining portions o!' this ordinance:; atxi the 'l'owtt ('ouncil hereby declares it would have passed this ordinance, anel each part, section, subsection, sentence, clause or Ithrase thcreol~, regardless of ilte fact that any (tnt~ (n• start parts, sccti(nts, subsections, sentences, clauses or phrases he declared invalid. ~k. 'I ]te rcl7cal or the repeal and reenactment ul any provision of the Municipal Cucie ol~ tl-c "I'(twn of Vail as proviclcd in lltts or(itnance shall trot a1leCt any right which has accrued, ~taty duty itnposccl, vty violation that occttrreci prioa• to the etTective date hercol; any prosecution c;ouunca~ccd, ttor aaty other actiuat or proceedings as cotmnenceci under or by virhte of fire provision repealed or rc.pcalcd and reenacted. The repeat ui' any provision hereby shall not • • • t~cviv~ arty I~rc,vitiit,n ~,r nt]y c~rciinancc I~rcviullsl}~ rcl~calccl or stll]crscciccl ul]lcss expressly stclfccl ilcrcin. 5. 1111 bylaws , ot'ciers, resoiutions, and E)1'Cln]at]CCS, c)r harts ilaercol; itacolasisteiat I]errwltl] arc rel)caleci t[) tl]c txiCllci Only (11 sllci] inCOnSlSlf;ncy. '1 ills 1'epealel' sl]ail not bG constrltccl 1c) r(;vist; al]y Iaylaw, urclcr, resoiuticnl, or orcliuance, or Dart thcrcol; tl]ereto(ore 1'cl)cal~c[. IN'I'IZUi)[JCI?I), R1,i11), n.l'I'1LUV1?I), ~1N1) UiZllIJRI:;ll i'[113L,15I11D UNCL 1N I~ULI, ()N I~ IIt~'I' Kl?~11)IN(~ ibis 1st clay of May, 2001, al 7:()t) }1.na. il] ti]e Council Chalaabers oP flat j Vail Mllnicilaal k3uilciin~, Vail, Coioracio. ~ ~~' --, .- ',ti~t•1 t.!~ ~~1~ iii,, ~ -~ ~ it 'r,;9~ %; ~ ~~ y~.atli~a~as, Mayo"-~'ro-'I~~]n '. a ;_ _~- '. i / ' .ort.l •i f.h)naicitie)t],T'awn Cleric IZI~All l1N1) nl'I'12()VI_ll ()N SI;CUNI) IZI~AI)1N(I i1Nl) UIZlllR1,l~ I'U13LI51-{Ell il]is i t:h Clay c~; .7 erne 20{)1 . /L~GG~~t~.;~J ;7~~-. l,ltclwig Kl]r~hVlayor p.I ~~i.l; cL 1. ;~ "~,%iitllifllli;lp~. ~l it '''~r 4 ~ 1~~ `, I'~~j~. ~.w 0.,i (~ '' '~. r. ,.^ ;. W f,c~rcl ~ 1)crtl~tlclsou,'l'otvll (_'lcrl: = :~, fi` c v~ ,````ti,: ~~~s~i:rir~luul ~r1 ~~t~~~~~`~ Inc. ~M ~ .' ~' s j~ ?8S Bricl;e Street, Suite 240 r-. Vail, CO 81.657 (974) X476-6x64 • Fax: (970) 476-6652 ~~--~c~ ~.. f ~~s ~~ The p~~inied porrioras of this Forztl leave been approved by rile Colorado Real Esrare Comrrlission (TBA 29-9-~9) THIS FORM Hf1S Iv(I~ORTA~T LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL, AND TA1 OR O"CI;II~R CO[1NSEL BEFORI/ SIGMNG. TR.~i~,'SACTION-BROKER ADDENDL`l~I (for In-Company Transactions} 1. AIYIENDYIENT TO AGE~IC"~' C_ ONTRACT. This Transaction-Broker Addendum is part of an EXCLi: SIVE RIGHT-TO-BUY CONTRACT (BUYER AGE~iCY) dated r ~~ . or a ~ RIGHT-TO-SELL LISTING CONTRACT (SELLER AGENCY} dated ~_,, 30. 2ooi between the broker named below and lts sales agents ("Broker"} and the undersigned Buyer or Seller. If this addendum is usc;d with a leaso or rental transaction, the word "Boller" shall mean "Landlord", and the word "Buy er" shall mean "Tenant". This rddendum wi 11 control in the event of any conflict with the contract to which it is attached. 2 LIMITATION ON BROKER'S AGENCY OBLIGATIONS. When acting as the agent for one party (either Buyer or Seller), Brakor has duties and obligations which include utmost: good faith, loyaltyand tzdelity to that one party, and chat one party mar• be vicariously liable far acts of Broker. When acting as a Transaction- Broker, Broke. assists the parties througho>_tt a contemplated real estate transaction with communication. interposition, advisement, negotiation, contract terms, and the closing of the transaction without being an went or advocate for the interest of anv party to the transaction. Seller and Buyer shall not be vicariously liable for acts ofd Transact i o n-B ra ki:r. a. Other Licensed Real Estate Camnanv(ies). (l} Waver's Arent. If'this Addendum is signed by Buyer, Broker will act as the exclusive agent for B over when shawinQ Buyer properties listed by other licensed real estate company(ies). (2} Seller's Agent. Ifthis Addendum is signed by Seller, Broker will act as the exclusive agent for Boller when the Property is sha~vn to prospective buyers who have working relationships with other icensedreal estarecpn-apany(ies). 4 b. I~z-Com~anv Transactionfsl. 1~Vhen the same Broker represents or assists both parties to a transaction, it is called an In- ~a~npany Transaction. It is ~tecessary that bath parties agree how Broker should handle such a situation and avoid lny conflict ot- interest. In this Addendum, you and your Broker agree how Broker is to act in an In-Company Cransaction. (1} Transaction-Broker. In an In-Company transaction Broker shall act as a f'ransaction-Broker. unless the box in b(`') is checked. ] (2) Arent. IF THIS BOX IS CHECKED, Broker shall act as an agent of only the lndersi~ed Buyer or Seller (and shall treat the other party as a customer, not as a client}, unless Broker has a vrittenTrdnsaction-Broker agreement or addendum with the• other party. °HE REMAINING PROVISIONS OF THIS ADDENDUM DESCRIBE SIGNIFICANT CHANGES TO THE )BLIGATIONS OF BROKER WHEN ACTING AS A TRANSACTION-BROI~R IN Aiv IN-COI~IPAVY 29.g-99, Transaction-Broker Addendum !FATT~9 Fcrrrs. Hox 4700, Fnsco, Cd 80443, Version 8.afi A. cReakFA$T®, 2001; Reg# TCOCOL22S405 spieled by - c. 'Nilliam WIIIO. ~wnerlBrei<er, R1=.'MAX Vail. Inc 05!50101 14:12:14 Page t of ~ TRANSACTZO~ • i 3, MATTERS THAT CAN BE DISCLOSED BY A TR~NSACTIO~1-BROKER. E~.cept as set forth in Section =1, ~3ro1`er, when acting as aTransaction-Broker, ma~~ disclose any infannation to one party that Broker yaucs from the ntl~er party if the information is relevant to the transaction or party. .~. V~iyTTERS THAT CA~~iOT BC DISCLOSED BY ATRANSACTION-BROKER. Broker. when acting as ~3 Transttetion-B roker. shall not disclose the followin47 information without the prior consent of Seller and Buyer; a. That Buyer is willing to pay mono than the purchase price offered for the property; h. That Seller is willing to accept less than the asking price for the property; c. ~Vl~at the motivating factors are for any parry buyin Q or selling the property; d. That Seller or Buver will agree to tu-iancing terms other than those offere;i; ~. An~~ material information about the other party unless either: (1) the disclosure is required by la~v, (?) the disclosure pertains to adverse material facts about Buyer's financial ability to perform the terms ofthe transaction, {3) d1e disclosure pertains to Buyer's intent to occupy the property as a principal residence, or (~) failure to disclose such information would constitute fraud or dishonest dealing. ~. NO DUTY FOR TR.AiySr1CTION-BROKER TO INVESTIGATE, Broker, when acting as a Transaction-Broker, has no duty to conduct an independent inspection of the property for the benefit of Buver and has no duty to independently verify the accLtracy or completeness of statements made by Seller or independent inspectors. Broker, when actin~l as a Transaction-Broker, has no duty to conduct an independent investigation of Buver's financ ial condition or to verih~ d7e acctuacv or completeness of anv statement made by Buyer. G. .~D DITION:~ L PRO VISIOi~IS. ~, ,~ :~ Accepted Town cf Va~~. SELLER Robert W. ~icLaurin, TC3WC1 Manager Bt~YE~ TBA 29-9.99, Transactson-Broker Addendum >PeaIFAS T ~ Forms, Box 4~ Q0. Frisco, CO 90483, Vers~an 6.C6 A, ~~ReaIFAwT~, 2Qat; Regrk TCOCQL222a05 Completed by - E. Wi~liam'rVdlo, Ownerl8rol<er, RElMAX Vail, Inc. 05130101 t4.12:t4 ~~~2~'1 DATE DATE Page 2 of 1 RE/Mr ~1, I~~'. 37347 ~. Hwy o P,O. ~wawer 6970 Avon, CO 8].62 Fhon~: 970-949-5~~ Fa~~ 0-949--6858 Y-- r':' y ~ .~ ./~ '// i ~3y: %~ ~_- ~ti,?T1~tL11'e E. ~lilliain Wi1to 29-9-99, Transaction-grokar Addendum FAST® Forms, Box 4700, Frisca, CO 80443, Version 6,GS A, ~ReaiFA.~TffJ, 2fl61: Reg# TCOCOL222405 plated by - E. Williart Wilto, OwnOrl>3rokeC. REIMASC Vail, Enc. 05/30/41 14:12:14 • ~k~-c/ Date Page 3 of 3 ~~c ~ ~ ~s 1 ~ ?$8 Bridge Street, Suite 24 ! M'~ , f Vail, CO 81GS7 (970) X76-G4b0 • F2~: (970) 47b-G6S2 1 ~ "Che printed portions of this form have been approved by the Ca[orado Real Estate Commission. (LC10-b-01 ] ~ THLS IS .1. B1ND'(NC~ CONTRACT. THIS FORM I-IAS IMPORTANT LEGAL CONSEQUENCES ~.~1D THE 5 I':~RTLES SHUULD CONSULT L1rGAL A;`1D TAY OR OTHER COUNSEL BEFORE SIGNING. G C:ompeltsatic7n charged by real estate brokers is not set by la~~. Such charges are established by each real estate broker. r ~ DIFFERENT BROKER-AGE RELATIONSHIPS ARE AVA~L~BLE ~V~II.CH INCLUDE ~} BUYER AGENCY, SELLER AGENCY, SUB:~GENCY, DUAL AGENCY OR TRAt~1S~.CTIQ~- 1 o BI20IfER. 11 l~ EYCLIJSTVE RIGHT-TO-SELL LISTING CONTRACT l; tRESmENTL ~.L) l~l (SELLER AGENCY) la 16 17 l8 19 Date: Mav ~ ~, u4C= ~p '1 `?? 1. rLGRCEYCI:NT. The parties agree that Seller irrevocably engages Broker as Seller's exclusive alter.*. under the '?3 tzrnts and conditions of this Listing Contract. Broker is a limited agent of Seller and will represent only Seller. except as -,~ stated in ~ f ~ and X19. Sell~:r agrees to conduct all negotiations for the Sale of the Property only through Broker, ai7d to 25 rcfcr to .Brak~r ctll coinmunications received in any foam from real estate brokers, prospective buyers, tenants or any other ?6 suurce durins,~ this Listing Period. Seller anc~ Broker agree to the terms and conditions szt forth in this contract. -~, ~~5 2. D)i FTitiEll TER:~IS. ~9 30 a. Suter: 'C'6WTl Qr Vuw'.. JI 32 U. Broker: ;.~ Listing Company ~5 ;6 e. Property. The Property is the following legally described real estate: 37 Caretaker C)niC, 7'10 Potato PaG4h Drive Car_dom~.ni~:ms [Bk-0477_, Pgm094~) 38 in the Caunty of•~ Eaale ,Colorado, 39 cgm~nonly known as =~~ 76U Potar_o natc:;~ Crive (per ragie County Records} vai7., Co Si657 ~l together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, all ~" ii~tterest of Seiler in vacated streets and alleys adjacent thereto, except as herein excluded. ~3 ~~ ct. Sule. The voluntary transfer ar exchange.af any interest in the Property or the voluntary creation of the ~l~ obligation to convey any interest in the Properly, including a contract or lease. SIG ~}7 e. Listing Period. The Listing Period shall be from Jung 7s. 2007 tl~raugh ~l~ or.cPmrt~r n ;, Znn~ . No. LGt0-6-Q2. EXCLUSIVE R[GH?'-TO-SELL LI5TING CONTRACT (t2tsiderttiai) Z5ei{er Agency) 2124161 rZea[RA5TJ Forms, Box 4700. (=r#sco, 4'O 80443, Version 6.06 A, c~ReaIFA~T~. 2001; Ragtf TCOCOL222405 Compieteo by - E.'~liiam ~Nlto, OwnPrlBrcKer, F~EIMAX Vaik. lnc. 051301D1 14:06:2fi Page 1 of ? 1~. ~icul~ility uf'Tertns. A cbecI< or similar 1~Pl~l`k in a box means that such provision i• li The abbrevlatian "NIA" ]Weans not applicable. pp cable. BROKER'S S1! RVICES. Broker shal l exercise reasonable skill and care for Seller. Broker shall promote the interests of Seller with the utmost goad faith, loyalty and fidelity, including, but not limited to: (~) Seeking a price and terms which are acceptable to Seller; except that Bl-olcer shall Hat be obligated to seek additional offers to purchase the Property while the Property is subject to a contract for sale; (2) Presenting all offers to and from Seller in a timely manner regardless of whether the Property is subject to a contract for sale; (3) Disclosing to Seller adverse material facts actually known by Broker; {4) C.aunscling Seller as to any material benefits or risks of a transaction actually known by Bralcer; (S} Advising Seller to obtain expert advice as to material matters about which Broker luiows but the specifics of which are beyond the expertise of Broker; (G) AccoLlnting in a timely !Wanner for all money and property received; and (7) [nforlrling Seller that Seller may be vicariously liable for the acts of Selfel-`s agent or any subagent when Broker or subagent is acting within the scope of the agency relationship. (} Any materlal lntormatlon about Seller unless the d1sG[osure is required by law ol- failure to disclose such information would constitute fraud or dishonest dealing; or (5) Any facts or suspicioals regarding circumstances which may psychologically impact or Broker shall not disclose the following information without the informed consent of Seller: (1) That Seller is willing to accept less than the asking price for the Property: {2} What the motivating factors are far Seller to sell the Property; (3} That Seller will agree to financing terms other than those offered; 4 stlglnatlze any real property pursuant to Colorado law. a. »RYCE AND TERIns. a. Price: U.S. $ 7.2.D. 000 b, 't'erms: ®Cash ®Conventioual ^ FHA ^ VA ^ Other: n/Fi n/a Luau Discount Poin#s. cl. Seller-1'aicl, .13tryer-Disallowable Clusing Casts {FHA/VA): n/a e. Earnest M.attey. Minimum amount of earnest money deposit V.S. $ 5. DDD . DD kn the tal'In of nE:rtinna.L check or wire t:ransf-Pr t: SG[IerProcreds. Seller will receive net proceeds of closing as indicated: ^ Casltier'sClteclt at Seller's expense; ^ Funcls Electronically Transferred (Wire Transfer) to an account specified by Seller, at Seller's expense; or ®Clusing Company's Trust Account Checlc. g. Advisory-Tu:~ Witltholcliing. The Internal Revenue Service and the Colorado Department of Revenue may require Closing Company to withhold a substantial portion of the proceeds of this sale when Seller either (a) is a Foreign person or (b) will not be a Colorado resident after closing. Seller should innuire of Seller's tax advisor to determ117e i f withholding applies or if an exemption exists. 5. DEt'OS.ITS. 13 raker is authorized to accept earnest !Honey deposits pursu~ult to a proposed Sale contract. Broker is authorized to deliver the earnest money deposit to the closing agent, if any, at or before the closing of the Sale contract. LC10-6-01. EXCLUSIVE R1GHT-TO-SELL LISTING GONTRACT (Residential! (Seller Agency) 2!24!01 aiFA$T® Forms, Box 4700, Frisco, Co 80443, Version 6.06 A, ©ReaIFA$T®, 2001; RegYa` TCOCOL222405 npleted by - E. 1Nlliam Witto, Ownerl8rnker, RElMAX Vail, inc. 05!30!01 14:06:26 Page 2 4t 7 1 l0 G. INCI~UNS ANI3 EXCLUSIONS. 111 112 a. The Purchase Price ii>IClucles the fallowing Reins (Inclusions}: 113 I1~1 (() E{"fixtures. If• attached to the Ptroperty on tl~e date of this contract, lighting, heating, 115 pit:robing, vet~tilatitlg, and air conditioning fixtures, TV antennas, inside telephone wiring and connecting blocks/jacks, 1 i6 plants, mirrors, 1'laor coverings, intercom systetns, built-in kitchen appliances, sprinkler systems and controls, built-in 1 17 vacuurTt systetns (including accessories), garage door openers including remote controls; and ll8 rr'fcigeral_or, rar~ge, dishwasher, any other kitchen appliances current=ly installed2, washer, dryer., window cavering~, and wa11 to wall carpeting as currently installed. 1 l9 (2) Otlter Inclusions. if on the Property whether attached or not ou the date of this 126 contract: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings, c:ut~tain l21 rods, ch•apery rods, lireplace inserts, fireplace screens, t7replaca grates, heating staves, storage sheds, and all keys. 1f 122 chcclced, the lolluwing are included: ^ Waker Softeners, ® Snruke/Fire Detectgrs, ^ Security Systems, .123 ^ Satellite Systems (including satellite dishes and accessories); and ^ I2~1 n/a 125 (3) )parking and Storage )Facilities. The use of the following parking facilities: l26 pEr. roridc~rriS.nir.rnt documents 127 and the following storage facilities: 128 those within urrtl. 129 130 (4) WFrter Rights. The 1'0l lowing legally described water rights: 131 n/~3 l32 133 (5) Well Perrtiit. Pertttit# n/a - ]34 135 136 U. Instruments of Transfer. The .lnc[ustons are tq be conveyed at closing free and clear of all taxes 137 (except pc;rsonal property taxes for the year of Closing), liens grid encumbrances, except as provided in ~7. Cotlveyaace 138 shallbebybillofsalearotherapplicab[elegalinstrument{s).Anywaterrightsshallbeconveyedbyan/a 139 deed ur other applicable legal instrument(s). 140 141 c. ~xclusions.'I'he fulluwirlg attached fixtures are excluded: 142 none 143 l44 7. TITLE AND ENCUMBRANCES. Se[Ier represents to Broker that title to the Property is solely in Seller's 115 natTre. Seller shall deliver to Broker true cppies of all relevant title materials, Iease(s}, irrtprovet>Zent location l46 certiticates(s} artd survey(s) in Seller's possession and shall disclose to Broker all easements, liens and other 147 encumbrances, if any, an the Property, of which Seller has knowledge. Seller authorizes the holder of any obligation 148 secured by an encumbrance on the Property to disclose to Broker the amount o won said encumbrance and the terms 119 tllereot: [n case of Sale, Seller agrees to convey, by a _ rlct4 War'rAt~eed, only that title Seller has in the I50 1'raperty.PropcrtywillbeconveyedfreeandclearaFal]taxesexce thegenaraltaxesffortheyearotClusing. 151 All monetary encttntbra[lces (such as tTtortgages, deeds of trust, liens, financing statements) shall be paid by 152 Seller and re€ettscd t;xcept as Seller artd buyer tray otherwise agree, Existing monetary encumbratces are as fallorvs: 153 n/a 154 The ,Property is subject to the following leases and tenancies: l5S nuzic~ 156 it the Property has been or will be subject to any governmental liens for specie[ improvements installed at the 157 tithe of signing a sale contract, Seller will be responsible for payment of same unless otherwise agreed. ,Broker may I Sit terulinatc this listing CantraGt upon 4vritten notice to Seller that title is not satisfactory to Broker. 159 1G0 8, EVIDIsNC~ OF TITLE. Seller agrees to furnish buyer, at Seller's expense, a current commitment for owner's 161 title insurance policy fill an a[lrount equal to the Purchase Price in the form specified in the sale contract, or if tills box is l62 checker{, ^ An Abstrstct of Title certified to a current date. l63 a. t.G10-6-01. ExGt.U51VE RIGHT-TO-SEL.L I-ISTING CONTRACT (Residential) (Seller Agency) 21241D1 eaIFA$TQ] Forms, Sox A700, FfISCU, CO 80443, Versipn 6.06 A, OO ReaIFA$T®, 20Q1; Reg# TCOCQL222405 ^mpleted by - E. William Wilto, Ownerll3raker, REJMAX Vail, Inc. g5l3Clf~1 14:06;26 Page 3 of 7 9. ASSOCI ON ASSESSMENTS. Seller represents t le amount of the regular owners' assaciatiol ssment is currently pa~at $ ]..500.00 per quarter ~ and that there are no unpaid reg~Ilspecial assessments agaulst the Property except the current regular assessments and except n/a Biller agrees to promptly request the; owners' association to deliver to buyer before date of closing a current statement o~ assessments against the I'rol~erty. 10. I'OSSLSSION. Possession of the 4'roperty shall be delivered to buyer as follows: date of cia~ing ;and delivezy of deed subject to leases and teuallcics as described in §7. 1 I. MATERIAL, DEFf:CI'S -DISCLOSURES -INSPECTION. ~~. Broker's Obligations. Colorado law requires Broker to disclose to any prospective bLLyer all adverse material facts actually known by Broker including but not limited to adverse material facts pe]•tainillg to the #itle to the Property and tht; physical condition of the Property, any material defects in the .property, and qtly environmental hazards affecting the Property which are required by law to be disclosed. These types of disclosures may include such matters as Stl'LtC#Lll'al detects, sell condltl017S, VlDlatlt3llS Of llealtl7, ZD11111g or building laws, and 11011G011fOrlning LISeS a11d .ZD11111g variances. Seller agrees that any buyer may have the Property and Inclusions inspected and aLlthorizes Broker to disclose any t~~tcts as€ually known by Broker about the Property. 19. Seller's O bli~;atio ns, {1) Seller'sProperiyDisclos:areForm. A sealer is not required by law to provide a Seller's Property DisclDSUre form. However, disclosure of known material latent (not obvious) defects is required by law. Seller ® Agrees ^ Does Nat Agree to provide a Seller's Property Disclost,Lre form completed to the best Dl' Seller's Gll]'I'enl, aCtUfil kROwledge. (2} Le.td-B~tsecl Paint. Unless exempt, if the improvements on the Property include one or more residential dwelling(s) for which a building permit was issued prior to January 1, 1978, a completed Lead-Based Pai11t Disc[osLU•e (Sales) form must be signed by Seller, the real estate licensee(s) and given #o any potential bnyc;r prior to the bLtyer and Seller signing a sales contract. f2. (:OMPENSA'I'ION 'C'O BROKER. Seller agrees that any broker compensation which is carlditiolled upo11 the sale of the 1'raperty shall be earned by Broker as set forth herein without any discount or allowance for any effo]-ts made by Seller ar by any representative of Seller in connection with the sale oftlle Property. ~t. Amount. In consideration of the services to be performed by Broker, Seller agrees to pay Broker as follows: (l} S.tle Colnmissio9l. (i} ~ % oftlle gross sates price in U.S. dollars, or (II) ~~ i.~ i:here are nc~ hrokers ether. than E. William Wi lto {2} L,~ase Commission. (i} n/a % of the gross rent under the lease in U.S. dollars, or (il) n/a b. When E~tr9led. Such commission shall be earned upon the happening of any of the following: (1) AnySalc;ot~thePropertywithintheListitlgPeriodbySeller,hyBrokerorbyatlyotherperson; (2) Breaker finding a buyer who is ready, willing and able to complete the transaction as specified herein by Seller; Dr (3} Any Sale ofthe Property within go calendar days subseclLLent to the expiration of the l..isting Period (Holdover Period) to anyone with whom Broker negotiated and whose name was submitted, in writing, to Seller by Broker during the Listing Period (irlcluding any extensions thereof}; provided, however, that Seller s}fall owe no commission to Broker under this subsection {3) if a commission is earned by another licensed real estate broker acting pursuant to an Exclusive Rigl3t-to Se! l C.istillg Contract ur an Exclusive Agency Listing Contract entered into during the Holdover Period. c. Whclz Applicable and Payltble. The commission obligation shall apply to a Sale made during the Listing Yeriud of made during; any extt;nsion of such original or extended term. Tlae commission described in subsection LC90-6-D9. EXCLiJSIVE RIGHT-TO-SELL LISTING CONTRACT tResidentialj {Seller Agency) 2124109 aiFA$TO Forms, Box 4700, Frisro, CO 80443, Version 6.Dfi A, ©ReaIFAST~?, 20D1; Reg# TCOCDL222405 nplefed by - [. Wdharrr Wiilo, OwnerBrakei, (tE11UI,AX Vail, Inc. 05130!01 14:06:26 Page 4 of 7 224 12-i(1) shoe payable at the time of the closing of the s canteen lated b p y subsection 12b(1) or ), or upon 225 fultillment rbsection 12b(2j where either the offer R11 by such buyer is defeated by Seller or byre refusal or 226 neglect of Seller to cansutnlnate tkle Sale as agreed upon. 227 228 d. Leese alld Le:rse Optit~n Cammissiorls. if the transaction consists of a lease or a lease and right to 229 purchase the Property, the commission relating to the lease shall be as provided in subsection 12a{2), payable as follows: 2aQ n/a 231 232 c. Other Compensatio~l, n/a 233 234 13_ LIMITATION ON THIRD-PARTY COMPENSATION. Broker shall not accept conlpensatioll froth the 235 buyer or the Selling Company, without the written consetlt of Seller. Additionally, Broker shall not be permitted to 236 assess and receive ttlarlc-ups or other compensation for services performed by any t111rd party or affiliated business entity 237 t:nless Seller signs a separate written consent for such service(s). 23S 239 14. O'I'LER BROKERS ASSISTANCE -MULTIPLE LISTING SERVICE -MARKETING. Seller has been 240 advised by Qroker of the advantages and disadvantages of various marketing nletllods, the use of tnultipie listing services 241 at~d varior.ls tl~othods of [Waking the Property accessible by other brokers (e.g., using lack boxes, by-appointtllerrt-only 242 showings, etc.}, and whether some methods [nay limit the ability of a selling broker to show the Froperty. After having 243 been so advised, Seller leas chosen the following {check all that apply}: 244 245 Bralcer shat 1 seek assistance from and offer compensation to the following brokers outside of the Listing Company: 246 ® Breyer Agents: 3 % ofthe gross sales price in U.S. dollars. 247 248 ® Trans.lctiolr-Brokers. _3 °1u of the gross sales price in U.S. dollars. 249 250 Broker ® Shall ^ Shall Not submit the Property to one or !Hare multiple listing services. 251 Broker ^ Shall ^ Sh~rll Not submit the Property to one or mare property information exchanges. 252 253 Broker is authorized to use Internet marketing, and all other rnarlceting methods it deems advisable, except 254 no exc;cptiuns, and Broker tray submit the Property to one or more property intormal:tgrz c.xchang~s. 255 256 Access to the Property by other brokers may be by: 257 253 ® Lt~clc Box 259 260 ^ n/a 261 262 ntheC 111StrUCtlanS: n/~"t 263 264 15. IN-CC)MI'ANY TRANSACTION(S). When the same brokerage company represents or assists bot11 265 parties to a tratsaction, it is called an ln-Company Transaction. The following attached adde.ndutll applies to Iu- 26G Calllp~ltly TI'ansacttan(s}: 267 ^ Dual Agency Adtlezrdum 268 ®Tr.rllssrctiurr-Broker Addealdum 2GR ^ Nalrc 270 271 I6. I'ORFEITUI~ OC' I'AYN[)CNTS. In the event of a forfeiture of payments made by a buyer, the sums received 272 shall be divided between Broker and Seller, one-half thereof to Broker, but not to exceed t1e broker compensation agreed 273 upon herein, and the balance to Seller. Any forfeiture of payment under this section shall not redttce any broker 274 canlpensatiotl under § l2. 275 276 17. COST OF SERVICES, REIMBURSEMENT. Unless otherwise agreed upon in writing, Broker shall bear all 277 expenses incurred by 13rokcr, if any, to market the Property and to compensate cooperating brokers, if any. Broker wi71 278 not obtain or order arty other products or services unless Seller agrees to writing to pay for them protrtptly when due 279 (examples: surveys, radon tests, soil tests, title reports, engineering studies). Unless otherwise agreed, Broker shall slat 280 be obligated to advance ft.lnds for the benefit of Seller in order to complete a closing. Seller shall reimburse Broker far 23 l payments made by [3r'alcer for such other products or services authorized by Seller, 232 No. LC10.6-01. EXCLU5IVE RIGHT-TO-SELL LISTING GaNTRACT (t2esidentiar~ (Seller Agency) 2124!01 RearFASTc~ Forms, Qox 4700, Frisco, CO IID443, Version 6,06 A, dReaIFA$T®, 2001; Reg# TCOCOL222405 Completed by - E. William Wil1o, Ownerleroker, REIMAX Vail, Inc. 05!30!01 14; Ofi:2fi Page 5 0l l 1$. IVIAINTICE OF THG PROPERTY. Seller ag~that Broker shall not be responsible for -~enance of the Property 1 e shall .Broker be liable for cialnage of any krr occurring; to the Property, runless srtch damage shat[ be caused by the negligence or intentional misconduct ofBroker. 19. OTHER SELL,EI2S. Seller acknowledges that under Colorado law Broker nay have agreements with other sellers Co ntarlcct and sett their properties. 20. NONll1SCR[MINATION. The parties agree not to discriminate unlawfully against atry prospective buyer because of~the race, creed, cc}tor, sex, marital status, national origin, familial statLrs, physical or mental handicap, religion or ancestry of such pw~son. 21. R.UCt}N1ML+'NUA1'ION OF LEGAL AND TAX COUNSEL. By sigtung this document, Seller acknowledges that .Broker has acivisecl Senor that this document has important legal consequences and has recotnlnended consultation with legal, ttEx or ailser counsel, before signing this contract. 22. MI{~DIAT[ON. IF a dispute arises relating to this contract, prior to or after closing, and is not resolved, the ptuties shall first pruce;ccl in good titith to submit the matter to mediation. Mediation is a process in which the parties nteet with an impartial person 4vha helps to resolve the dispute informally and confidentially. Mediators cannot impose binding dt;cisians. The parties to tl~e dispute roust agree before any settlement is binding. The parties will jointly appoint an acceptable mediator and will share equally in the cost of such mediation. The mediation, unless otherwise agreed, shall terminate in the wont the entire dispute is not resolved within thirty (30) calendar days from the date written notice rerluesting mediation is set~lt by anc party to the other(s). 23. AT"l`OI2N1{,Y F1~1;5. [n case of arbitration or litigation between Seller and Brokor, the parties agt'ea that costs Ind rcasonablr; atttrrn~y foes shaft be awarded to the prevailing party. Z=1. AllDI~I'IONAL PROVISIONS. (Tho language of these additional provisions has not been approved by the Colorado heal C'state Calrsmission.} a. 't'ire ic:lc~nt_.i.t.y o.f t:he ;c~7.ler st~a.Ll remain confidential ael.lc;r crC"IC'(_'e5 l:o repair 1-.he damaged area of the entry. r.. E'AI13 HOC]~TNG AC'.i'. :hate and federal laws prohibit discrimination. t3roker c?f:Ccr:U c.clr.cal .,erv.i.co Lo everyone regardless of race, creed, color, religion, rral.i.onta]. c~.r].cla.n, ancestry, sex, marital. or. family status, sexual preference, or physical or' iuc~nt.,:s.l. tcanciic~zl:~. Nu Such information, continents, or opinions will be discussed about ttre~ .a~:~l.1.er_ (s) , 13r:cyi:r (s) ur the neighborhood in which the property ] s located. c~. N/Fl. Whenever "N/A" appears within this contract, it is understood by all pa rt.ir~s tfr,:rt "N/A" muaiis "Not Applicable". ~~. `t'he 1~oll.owing parties sha11 be excluded From the terms and conditions of this agrec'rn~~nt t:hrocEC~h Ju ty 5, 2001: 770 Potato Patch Condominium Association, and any i.ndi.vicluals or ea~ti.t.ies that currently own a unit within the 770 Pc~tata i?atch Corldami.nirim As:~oc:i~~ticn. 2S. A'I'TACHMLNTS. 1'ltc lbtlo~ving exhibits, attachments, artd addenda are a part of this contract: ~gc.iarE. I~'not:age. Di.sc:lasur.e, Seller's Property Disclosure, Transaction Broker Addendum 31S ~ 1G 2G. PACSIMI:I..E AND I.LL+'CT120NIC SIGNATURES. Signatures ®May ^ May Not be evidenced by facsi3nile, 317 and ®May ^ May Not be evidenced by electronic signatures. Docun-tents with original signatures shall be provided 3 l S upon request ai' any party. X19 320 27. 1VIUD[FI.CA~I'lUN OF THIS LISTING CONTRACT. No subsequent modification of any of the terms of the 321 Listing Colttract shall be valid, binding upon the parties, ur enforceable unless made in writing and signed by the patties. ~. LC10-S-01. EXCLUSIVE RIGHT~rO-SELL LISTENG CONTRACT (ResidentiaE] (Seller Agency) 2124101 ~aIFA$T~ Farms, enx 4700, Frisco, GU 80443, Version 6.06 A, ©ReaIFA$T®, 2D01; Reg# TCOCOL222405 ~mpieted by - F. William Wilts, OwnerlBroke:r, REIMAX Vail, Inc. 05!31101 08:58:04 Page 6 of 7 ?3~ . ~?3 Z~{. CO >CRPAR'['S. [f more than one person is1'~ned as a Seller herein, this Listin~T Contract ma~• be executed ~?~ by each Seller, individuttl(y, and when so execrated, such copies taken together evith one executed by Broker shall be 32~ deemed to fie a frill and complete contract betweetz the parties. 336 ~~7 ?~), I±,NTIIt)f AGREEMENT. 7•his Listing Contract constitrites the entire a~7reement bens cen the parties relating to 3?8 the sul~j~ct hereat', and any prior agreements pertaining thereto, r,vhether oral or written, have been nter~ed card irate<~r-ateci .i?9 into this Listing Contract. ` 330 l 3f}. COPY Off' CONTRACT. Seller acknowledges receipt of a copy of this contract si47ned by Broker, inciuding all 3~ ~ittachrnents, 3~_i ~ ~ -~ »~ STLLLR Ai~ill ]3120KER ACKiNOtiVLEDGE THAT BROKER Hr~S REVIE~`~ED ti~TTH =~~~ SELLI~.~~ <~ COPY OF THE APPLICABLE COLORADO REAL ESTATE COtiI~VIISSION ~» % CONTRACT TO BUY AND SELL RF AL ESTATE FORIYI. ,, 5 .i~9 Accepters: Ru/t~1a:{ Viii 1, lnc; . 5';~~17 U,.,. fIwy b ~.G- (]Z'd'riE'Y' 6970 Avon, CO 81020 °hone: !?it}-949-0447, Ea.:: 970-949-6858 By: ~~~,: ~/ /~ - 5i~vs7rrture f;. ;vi~liam wilco Date ~.~f} Broker's Email Addrr;ss wL1ro~t::?;-]..net 'i'o~~rn n± Vail 7`i a. c'].or[t,[gc :tcl., V~l.i'~, CU 81b57 5 E i, ~..-, t~. / RobErt W. rlcLaur~.n, Town Manager ~~i1 Seller's Email Address rl/,-, No. LC 10-6-Oi. EXCLUSIVE R€GHT-TO•SELL LISTING CONTRACT (Residential} (SellerAgency~ 2124101 RealFASPn] Forms, Box A700, Frisrc, CQ 804A3, Version 5,06 A, ©ReaIFA$TC~?, 2Q01; Regrk TCOCQL222405 G~mpieted by - E. 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