HomeMy WebLinkAboutADM090011ti
11f14f1VUXMIL
ADMINISTRATIVE ACTION FORM
Department of Community Development
75 South Frontage Road
Vail, CO 81657
tel: 970-479-2138 fax: 970-479-2452
web: www.vailgov.com
Project Name:
Application Type:
PAL DUPLEX PLAT
DupSubPl
ADM Number: ADM090011
Parcel: 2101-071-1304-8
Project Description:
AMENDED DUPLEX PLAT
Participants:
OWNER PAL REVOCABLE LIVING TRUST 09/25/2009
12 BAY VIEW WOOD
TORONTO ON
M4N1R7 CANADA
APPLICANT KURSTEN CANADA 09/25/2009
Project Address: 254 BEAVER DAM RD VAIL Location:
254 & 264 BEAVER DAM RD
Legal Description: Lot: 23A Block: Subdivision: VAIL VILLAGE 1
Comments:
BOARD/STAFF ACTION
Motion By: Action: STAFFAPR
Second By:
Vote: Date of Approval: 10/05/2009
Meeting Date:
Conditions:
Cond: 8
(PLAN): No changes to these plans may be made without the written consent of Town of
Vail staff and/or the appropriate review committee(s).
Cond: CON0011082
The applicant shall change the plat's title to "Amended Duplex Plat".
Cond: CON0011084
The applicant shall correct Note 8 to reference the 'Town of Vail Community
Development Department", rather than Eagle County.
Cond: CON0011085
The applicant shall correct Note 9 to reference "Gross Residential Floor Area",
rather than floor area ratio.
Cond: CON0011086
The applicant shall note the total acreage (combined area of Lots 23A and 23B) on
the plat.
Planner: Bill Gibson DRB Fee Paid: $100.00
' l
. Department of Community Development 75 South Frontage Road
Vail, CoJotac~o
}lei. 9,~Q
n
Ulle~
De 0opten
Duplex Subdivisions
Application for Review by the
Planning and Environmental Commission
General Information: The required approval for a duplex subdivision or resubdivision of an improved duplex lot and
structure will require town approval through the administrator, subject to review by other Town of Vail departments.
No duplex subdivision shall be approved unless the lots are improved with at least foundations for both units existing at
the time of submittal. Please see Section 13-8, Duplex Subdivisions, Vail Town Code for more detailed information. Vail
Town Code can be found on the Town's website at www.vailgov.com.
Fee: $100
cording Fees: Please visit the Eagle County website httP //www.ea lecountv.us/clerk/publicR
9 ecords.cfm for
the most up-to-date recording fees and check with your planner prior to submitting the payment. A check written
out to the Eagle County Clerk and Recorder is required to be submitted once the plat has been approved by the
Planning and Environmental Commission and prior to the recording of the plat.
Description of the Request:
Physical Address:
Parcel Number: Z /v ( • d'71 • /3. OW18 f_ (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.)
Property Owner: 'Pir4L.. KCi~t(7Gr4b1G T
gy-n-g'
Mailing Address: 5644-VXO Xl ! y /mod
Phone:
Owner's Signature:
Primary Contact/ Owner Representative:
Mailing Address:
E-Mail:
Fax:
For Office Use Only: Cash CC: Visa / MC Last 4 CC #
Fee Paid: 100 W Received From:
Meeting Date: PEC No.:
Planner: `A? Project No
Zoning:
Location of the Proposal: Lot: Block:
Land Use:
eck # !U [5
r-qt t ~lcr~t. -1-
flrl4q lin t 1
Subdivision: \i U I, `Q -
i
t
liy NO on of an im
roved
duplex General Information: The required approval for 'a duplex subdivision
to reviewd by 'other Townpof Vai (departments.
structure will require town approval through the administrator,
No duplex subdivision shall be approved unless the lots are improved with at least foundations for both units existing at
the time of submittal. Please see Section 13-8, Duplex Subdivisions, Vail Town Code for more detailed information. Vail
Town Code can be found on the Town's website at `^'ww•_cm.
Fee: lpp i~IprkmublicRecords.~ for
cording Fees: Please visit the Eagle County website htttp /!eaaiecoun ment. A check written
the most up-to-date recording fees and check with your planner prior to submitting the pay
out to the Eagle County Clerk and Recorder is required to be submitted once the plat has been approved by the
Planning and Environmental Commission and prior to the recording of the plat.
Description of the Request:
Physical Address:
Parcel Number: (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.)
2l (7 I • b'? 1. 13. OAS .t
Property Owner: A L'• ~ D J:z•
Mailing Address:
_ I ..d n el I J,c^-t Phone:
Owner's
Primary Contact/ Owner
SqS_
Mailing Address: 11,/11 u '
-_0 Phone: p1Q7y ~q~~ ~
E-Mail: 7.Fax: ! l y ~ / ~ !
0Dhti
77
Auth # Check #
For Office Use Only: Cash. CC: Visa J MC Last 4 CC #
Fee Paid. 1 00 _ Received From:
Meeting Date: PEC No.:
Planner: Project No:
Land Use:
Zoning:
Location Progg5~,l: Lot._,,T7_ Subdivision:
TOWN OF VAI
Duplex Subdivisions
Application for Review by the
Planning and Environmental Commission
TOWN OF VAIL, COLORADO Statement
Statement Number: R090001303 Amount: $100.00 09/25/200904:34 PM
Payment Method: Check Init: JLE
Notation: 1075 GARFIELD &
HECHT
Permit No: ADM090011 Type: Administrative
Parcel No: 2101-071-1304-8
Site Address: 254 BEAVER DAM RD VAIL
Location: 254 & 264 BEAVER DAM RD
Total Fees: $100.00
This Payment: $100.00 Total ALL Pmts: $100.00
Balance: $0.00
ACCOUNT ITEM LIST:
Account Code Description Current Pmts
PV 00100003112500 Administrative Fee 100.00
i
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i
DECLARATION
OF COVENANTS, CONDITIONS & RESTRI
&
PARTY WALL AGREEMENT
SEP 28 2"O9
TOWN OF VAIL
THIS DECLARATION OF COVENANTS, CONDITIONS & RESTRICTIONS &
PARTY WALL AGREEMENT (hereinafter this "Agreement") dated effective this
day of September, 2009, is by and between Goldstein Family Limited Partnership.
LLC. a limited liability eoianyThe Pal Re able LiviRg T st (the "Lot 23A
Owner"), and Vail Property Holdings, Ltd., an Ontario corporation. (the "Lot 23B Owner"), and
collectively, the Lot 23A Owner and Lot 23B Owners herein, the "Owners."
RECITALS
A. Lot 23A Owner is the owner of Lot 23A, Vail Village, First Filing, a
Resubdivision of Lot 23, Block 7, according to the Plat recorded October 11, 2005 under
Reception No. 932394, County of Eagle, State of Colorado ("Lot 23A"). [REVISE TO
REFLECT DUPLEX PLAT LEGAL)
B. Lot 23B Owner is the owner of Lot 23B, Vail Village, First Filing, a
Resubdivision of Lot 23, Block 7, according to the Plat recorded October 11, 2005 under
Reception No. 932394, County of Eagle, State of Colorado ("Lot 23B") (Lot 23A and Lot 23B
each individually a "Lot" and collectively, the "Lots"). [REVISE TO REFLECT DUPLEX
PLAT LEGAL]
C. Subject to the terms and conditions hereof, the Owners desire that the Lots be
held, sold and conveyed subject to the following easements, reservations, restrictions, liens,
charges, covenants and conditions which are for the purpose of protecting the value and
desirability of the Lots and which shall run with the Lots and be binding on all parties having any
right, title or interest in the Lots or any part thereof, and their heirs, personal representatives,
successors and assigns.
ARTICLE ONE
Party Wall Agreement
1.1 Creation of Party Wall. The residential improvements located on the Lots share a
common wall as depicted on Exhibit A attached hereto, which constitutes a party wall herein (the
"Party Wall"). The rights and obligations of the Owners with regard to the Party Wall shall be
governed by the provisions of this Article One.
1.2 Easement for Encroachment. Mutual reciprocal easements are hereby established,
declared and granted for any encroachment of the Party Wall onto either of Lot 23A or Lot 23B,
and such reciprocal easements shall be governed by this Agreement.
1.3 Maintenance and Repair. No Owner shall do any act which would cause damage
to or impair the structural integrity of the Party Wall. The cost of reasonable repair to maintain
the structural integrity of the Party Wall shall be shared by the Owners equally. If an Owner
fails to repair or maintain the structural integrity of his/her portion of the Party Wall, the other
Owner shall provide such defaulting Owner written notice of the failure and provide such Owner
a reasonable period of time not exceeding five (5) days in which to cure such default. If the
defaulting Owner fails to cure the default within such time period the non-defaulting Owner may
undertake such repair and for such purpose may enter upon the Lot of the defaulting Owner,
without liability therefor except for damage resulting from the willful misconduct of such Owner
or its authorized representatives. The non-defaulting Owner shall have a lien against the
defaulting Owner's Lot in accordance with the provisions of Section 7.9 of this Agreement for
the cost and expense incurred in making or causing such repairs to be made.
1.4 Damage by Fire or Casualty. If the Party Wall or any portion thereof is destroyed
or damaged by fire or other casualty, the Owners shall restore it and they shall contribute equally
to the cost of restoration thereof without prejudice, subject, however, to the right of each Owner
to call for a larger contribution from the other under any rule of law regarding liability for
negligent or willful acts or omissions. The right of any Owner to contribution from any other
Owner hereunder shall run with and be appurtenant to the land and shall pass to such Owner's
successors in title. An Owner who by his or her negligent or willful act causes the Party Wall to
be exposed to the elements shall bear the entire cost of furnishing the necessary protection
against such elements and damage resulting therefrom.
1.5 General Rules of Law to AnpIy. To the extent not inconsistent with the
provisions of this Agreement, the general rules of law regarding party walls and liability for Lot
damage resulting from such party wall issues due to negligence or willful acts or omissions shall
apply to the Party Wall and to the interpretation of this Agreement.
ARTICLE TWO
Insurance
2.1 Insurance Required. Each Owner shall obtain and maintain at all times property
and casualty insurance for his Lot and any other improvements located on his Lot in an amount
equal to the full replacement value (i.e. 100% of current replacement cost exclusive of the land
and other items normally excluded from coverage) of the improvements located on each Lot,
such insurance to afford protection against at least the following:
2. 1.1 Loss or damage by fire and other hazards covered by the standard,
extended coverage endorsement, and for debris removal, cost of demolition, vandalism,
malicious mischief, windstorm, and water damage; and
2.1.2 General liability coverage in an amount not less than $1,000,000.00 for
each occurrence and $3,000,000.00 in the aggregate.
2.2 Insurance ApRraisal. Except and unless otherwise waived in writing, the Owners
shall, at least every three years, obtain an appraisal for insurance purposes which shall be
2
maintained as a permanent record, showing that the insurance in any period represents one
hundred percent (100%) of the full replacement value of the improvements on each Lot, said
appraisal to be conducted by each Owner's own insurance agent.
ARTICLE THREE
Covenants and Conditions Regarding the Exterior Areas
3.1 Agreement to Maintain. The Owners agree to maintain the exterior of each
respective Lot, including, but not limited to, the exterior building surfaces, patios, roofs, walls,
downspouts, sprinkler systems, trees, shrubs and grass areas, walkways, driveways and
stairways (collectively the "Exterior Areas"), which lie on each Owner's Lot in a first class
manner and in good working order, structural soundness and repair so as to maintain their
attractive appearance.
3.2 Maintenance Responsibility. Maintenance, repair and replacement of the Exterior
Areas shall be the obligation of the applicable Owner upon which the Exterior Area lies,
including the maintenance and replacement of the landscaping, including sprinkler systems
thereon. Maintenance of sidewalks, driveways, courtyards and exterior decks and the cleaning
and replacing of glass surfaces and doors solely servicing an individual Lot or garage shall be the
responsibility of the individual Owner.
3.3 Exterior Painting. All painted exterior surfaces, including trim, soffits, etc., shall
be evaluated by the Owners not less frequently than every four (4) years and shall be painted as
needed to protect the surfaces and to maintain an attractive overall appearance; provided,
however, all painted exterior surfaces shall be painted not less than every six (6) years following
the recording of this Agreement using a contractor chosen in accordance with the provisions of
Section 3.5, unless otherwise agreed upon in writing by the Owners. In the event the Owners
cannot agree on a paint color, the contractor shall match, as closely as possible, the then existing
color. The reasonable cost and expense of exterior painting shall be shared equally by each Lot
Owner.
3.4 Landscaping/Courtyard Maintenance. The landscaping in front of the Lots shall
be maintained as provided in Section 3.2. Each Owner shall maintain the exterior area of
his/her Lot in a neat and orderly manner and shall be entitled to furnish such area with outdoor
patio furniture such as tables which may have umbrellas, chairs and lounge chairs, gas or
propane grills and flower boxes, pots and planters.
3.5 Maintenance Contracts. The Owners shall agree upon contractors to provide for
the mutual obligations herein. In the event the Owners cannot agree on a contractor, each Owner
shall obtain bids from two (2) licensed contractors qualified to provide the services required and
the Owners agree to accept the lowest resulting bid.
3.6 Approval Required for Changes or Alterations.
3.6.1 The exterior of the Lots, including, but not limited to, the color and texture
3
of paint, stone, woodwork, paneling, roof materials, siding, and awnings shall not be changed
from that existing on the Lots on the date of the Agreement without the prior written consent of
both Owners. No additions or alterations to the exterior of the Lots (or any other improvements),
or changes to the walls or other Exterior Areas including the landscaping in front of the Lots
shall be commenced, erected or maintained until and unless the plans and specifications showing
the nature, kind, shape, heights, materials and exterior color schemes of such additions or
alterations, and in the case of new structures, the location of such structure and the grading and
landscaping plans and finished grade elevations of the site to be built upon, shall have been
submitted to and approved in writing by both of the Owners. Each Owner shall have the right to
refuse to approve any such plans, materials, colors, improvements, grading or landscaping which
are not reasonably suitable or desirable in his/her reasonable opinion for aesthetic or other
reasons, and in so passing upon such plans, the Owners shall have the right to take into
consideration the suitability of the proposed improvement, the construction materials and
exterior colors and facades, the location, topography and surroundings of the proposed
improvement site in relation to the existing improvements and in relation to the general residence
plan of the Lots. All subsequent additions to or changes or alterations to the exterior of either
Lot (including color schemes), or any fence, wall or other structure, including subsequent
additions to or changes or alterations in any grading or landscaping plans, shall be subject to the
prior written approval of both Owners.
3.6.2 Notwithstanding anything to the contrary set forth above, the Owner of
Lot 23A may (i) install a hot tub and construct an awning or roof over same in the landscaped
area of the Lot, and (ii) enclose the deck located on the easternmost side of the residence within
the Lot, and the Owner of Lot 23B may install a hot tub and construct an awning or roof over
same in the westernmost terrace area of the improvements to the Lot, without any further
approval requirement from the other Owner. In no event, however, shall any awning or roof
constructed in accordance herewith create a material obstruction of views by either Owner.
3.7 Owner Responsibility for Certain Acts. If the Owner of either Lot. at any time,
neglects or refuses to perform or pay its share of any obligation required hereunder .r that Owner
shall be in default of this Agreement (hereinafter the defaulting Owner)The other owner to
whom payment or performance is owed may give written notice of default to the defaulting
Owner specifying the required obligation, after which the defaulting Owner shall have ten (10)
davs to commence the performance or payment of the defaulted obligation (a` if the exterior- of
damaged Lot is negligent
g;~iests~ or- in
,
whieh damage is Be* pr-omptly r-epair-ed by said Owner-, or- (b) if an Owfief fails te .-Piae,
t
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or- (d) if the Toym of Vail gives aii Q~A%er notiee of a zaaing violation Wbieh said QW-Rei- dee-s
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Aw%FF a w6 ne and demand to eth- said _In the event that said matter has not
been corrected or the sums due paid within ten (10) days thereafter, the non-defaulting Owner
may undertake such repair and for such purpose may enter upon the Lots of the defaulting Owner
including the defaulting Owner's Lot without liability therefor except for damage resulting from
the willful misconduct of such Owner or its authorized representatives. The non-defaulting
4
1
1
a
Owner shall have a lien against the defaulting Owner's Lot in accordance with the provisions of
Section 7.9 of this Agreement for the cost and expense incurred in making or causing such
repairs to be made.
ARTICLE FOUR
Easements
4.1 Reciprocal Easements. The Owners hereby reserve for themselves and their
successors and assigns, a right of way and easement for the installation and continued operation,
maintenance, repair, alteration, inspection and replacement of utility lines, including, but not
limited to, water lines, sewer lines, gas lines, telephone lines., television cable lines and such
other utility lines and incidental equipment as such lines are located over, under and across that
portion of either Lot outside the building footprints of the residential improvements or the Party
Wall to the extent reasonably necessary. The installation, operation, maintenance, repair,
alteration, inspection and replacement described. herein, and damages to either Lot resulting
therefrom, shall be made at the sole cost and expense of the Owner who initiates same, unless
otherwise agreed upon in writing by both Lot Owners. Perpetual reciprocal easements for the
continuance, maintenance and relocation of said utility lines shall exist for the benefit and burden
of both of the Owners of the Lots.
4.2 Utilityyasements. If any utility lines referred to in this Article are destroyed or
damaged, the Owner whose residential unit is serviced by said lines shall cause the same to be
restored forthwith at his sole cost and expense. Notwithstanding any other provision in this
Agreement, an Owner who by his negligence or willful act causes damage to the utility line or
lines of the adjoining Owner shall bear the cost of restoration thereof and any other damages
allowed by law. In the event that such damage has not been corrected within twenty-four hours,
subject to the applicable utility company being able to make the repairs within such period of
time, the adjoining Owner who has been damaged may undertake such repair or cause the repairs
to be made and for such purpose may enter upon the Lot of the defaulting Owner including the
defaulting Owner's residential unit without liability therefor except for damage resulting from the
willful misconduct of such Owner or its authorized representatives. Such Owner shall. have a lien
against the defaulting Owner's Lot in accordance with the provisions of Section 7.9 of this
Agreement for the cost and expense incurred in making or causing such repairs to be made.
4.3 Easements for Encroachments. If any portion of a residential unit or other
improvements constructed as part of the initial construction existing at the time of recording of
this Agreement on one of the Lots encroaches upon the other Lot, a valid easement therefor shall
exist for the encroachment and for the maintenance, repair and replacement thereof.
4.4 Easements for Maintenance. Each Lot shall be subject to an easement in favor of
the Owners, including their agents, employees, and contractors for providing the maintenance
described in this Agreement.
ARTICLE FIVE
Damage or Destruction
5.1 Damage or Destruction of the improvements on a Lot.
5- ~-In the event of damage or destruction to a residential unit due to fire or
other disaster, the Owner of the damaged residential unit shall promptly commence the repair
and reconstruction work necessary to restore the improvements to substantially the same
condition as they existed prior to the damage. The cost of all such repairs and restoration work
shall be paid by the Owner of the damaged residential unit from the proceeds of insurance or
otherwise.
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ARTICLE SIX
Right of First Refusal
6.1 Sales. Any and all sales of Lots or any interest therein are subject to the terms
and conditions of this Article. For purposes of this Article, "Sale" of a Lot means the transfer of
(i) the undivided interest in the Lot; (ii) all or any portion of the ownership interest of such
Owner in any Lot; and (iii) if the Lot Owner is a corporation, other business entity, trustee or
nominee, a transfer of any equitable, beneficial, legal or principal interest in said Lot Owner. For
purposes of this Article, Sales of Lots shall be subject to a right of first refusal (the "Right of
First Refusal") in favor of the non-selling Lot Owner, - - and K , .conly for so long
as the orioinal Owners named herein own the Lots. Upon any Sale conveyance by each of the
Owner(s) named herein in compliance with this Article 6 the Right of First Refusal shall
terminate.
6.2 Bona Fide Offer. If a Lot Owner proposes to transfer title to all or a portion of its
interest in its Lot to any person(s) or entity(ies) other than as permitted below, such selling Lot
Owner shall first provide the non-selling Lot Owner with a written notice (the "Notice"): (i)
certifying that such selling Lot Owner has received a bona fide offer from a third party to acquire
an interest in the Lot or a specified portion thereof (the "Offer"); (ii) certifying that the selling
Lot Owner desires to accept, or has accepted such Offer subject to the terms of this Article, and
6
(iii) specifying in reasonable detail all relevant terms of the Offer, together with a true copy of
the Offer as received, and if applicable, accepted by the selling Lot Owner. The non-selling Lot
Owner shall then have a period of fifteen (15) days after receipt of the Notice to decide whether
or not to exercise its Right of First Refusal described herein on the same terms of the Offer;
provided, however, that the selling Lot Owner shall be obligated to pqy any and all brokerage
fees arising in connection with the Offer triggering this right of first refusalt e pu-ehase
the iieii selling Let 0,A%er- shall be Fedueed b~- the ametn4 of any br-ekemge. fin -'s fe. --4
the sale eentefiPlated t r , . If the non-selling Owner does not elect to exercise its Right of
First Refusal, the non-selling Owner's Right of First Refusal with respect to the transfer shall
terminate in accordance with the terms and conditions set forth below.
6.3 Exercise of Right of First Refusal. The non-selling Owner shall exercise the
Right of First Refusal described above by delivering to the selling Lot Owner, within the fifteen
(15) day period described above, written notice specifying that the Right of First Refusal is being
exercised and providing any earnest money payment or deposit equal to the amount specified in
the Offer to selling Lot Owner.
6.4 Form of Purchase Contract. The terms of the purchase and sale will be the same
as the terms of the Offer, with the non-selling Owner or its designee substituted for the buyer
named in the Offer, and the Offer will be amended by any special provisions described in this
Article. If the Offer is not in the form of a purchase contract, any purchase of the Lot by the
non-selling Lot Owner shall be pursuant to the terms and provisions of the Colorado Real Estate
Commission approved form of Contract to Buy and Sell Real Estate All-Types (Common
Interest Community), as amended from time to time, on the terms of the Offer, as modified by
any special provisions described in this Article, and on any other customary terms for residential
real estate transactions in Eagle County, Colorado.
6.5 Special Provisions to an Offer. The Offer will be amended for the following
terms, as applicable:
(a) Non-Cash Consideration. If the Offer contains non-cash consideration, the non-
selling Lot Owner shall have the option to pay the fair market value of such non-cash
consideration. If the parties cannot agree on the fair market value of any such non-cash
consideration, such value will be determined in accordance with the valuation procedures set
forth below.
(b) Valuations. Within three (3) business days after the request of either party (the
"Request Date"), the fair market value of the non-cash consideration shall be determined by an
appraiser mutually agreeable to the parties. If the parties cannot agree on an appraiser within
five (5) days of the request, then each party shall select an appraiser and the two appraisers shall
select a third appraiser who shall perform the appraisal. Appraisal fees will be shared equally by
the parties.
6.6 Closing. The Closing shall take place on the later to occur of (a) the date set forth in
the Offer, or (b) the date that is thirty (30) days after delivery of the written notice of exercise. The
Closing shall take pace at 10:00 a.m. at the offices of the Title Company, as defined in the Offer.
6.7 Termination of Right of First Refusal If the non-selling Owner receives a Notice of
an Offer from the selling Lot Owner and thereafter either: (i) expressly declines to exercise the
Right of First Refusal, or (ii) fails to exercise such Right of First Refusal within the fifteen (15) day
period described above, then:
(a) The selling Lot Owner may transfer the Lot covered by the Offer free of the Right of
First Refusal at a price no less than, and on terms no less favorable to Lot Owner, than those of the
Offer.
(b) If selling Lot Owner desires to transfer the Lot (or any portion thereof) at a price less
than or on terms less favorable to the Lot Owner than those described in the Offer, then the selling
Lot Owner shall provide the non-selling Lot Owner with another notice of Offer stating in
reasonable detail all relevant provisions of the then-current Offer and the non-selling Owner will
have a new fifteen (15) day Right of First Refusal period as described herein and the provisions
hereof will apply to the Offer as described in the new Notice.
(c) If the Lot is conveyed after the non-selling Lot Owner has declined to exercise its
right to purchase, this Right of First Refusal shall terminate with respect to that particular sale and
the non-selling Lot Owner shall execute such documents as requested by the selling Lot Owner to
evidence termination of the Right of First Refusal as applied to that particular sale.
6.8 Exempted Transfers.' The non-selling Lot Owner's Right of First Refusal shall not
apply to any of the following transfers:
(a) transfers by operation of lain, including, but not limited to, execution upon
judgments, bankruptcy, foreclosure, tax sales, and intestacies;
(b) transfers to relatives by blood or marriage for estate planning purposes;
(c) conveyance of easements or rights of way;
(d) transfers by Lot Owner to an entity in which Lot Owner owns the majority
interest.
The non-selling Lot Owner's Right of First Refusal shall continue in effect for so long as the non-
selling Lot Owner owns a Lot g
b b, 'In the event
the Right of First Refusal shall be unlawful, void or voidable, for violation of the rule against
perpetuities, such provision shall continue only until twenty-one (21) years after the death of the
survivor of the now living descendents of the Owners.
6.9 Notices. All notices required under this provision shall be given in writing to
either Owner, as applicable, at the address for such party as filed with the Eagle County Assessor
from time to time, and shall be (a) personally delivered, (b) mailed by certified mail, return
receipt requested, (c) delivered by acceptable courier, or (d) sent by facsimile transmission. An
acceptable courier shall be deemed to include Federal Express or other courier with service,
which meets or exceeds that of certified U.S. mail. All notices shall be deemed given when (a)
delivered in person to the appropriate address, (b) if sent by mail, three (3) days after being
placed in the U.S. mail, certified, return receipt requested, postage prepaid; (c) if sent by courier,
one (1) business day after the notice is deposited with the courier, all costs prepaid, addressed to
the applicable Owner, and (d) if sent by facsimile, the date on which the sender can verify a
successful transmission by machine.
6.10 Voidable. Any purported Sale of a Lot in violation of this Article shall be
voidable at the election of the non-selling Lot Owner.
ARTICLE SEVEN
General Conditions
7.1 Covenants Run With the Land. The covenants and restrictions of this Agreement
shall run with and bind the Lots and shall inure to the benefit of and be enforceable by the Owner
of either Lot subject to this Agreement, their respective legal representatives, heirs, successor
and assigns, in perpetuity from the date this Agreement is recorded.
7.2 Amendments. This Agreement may only be amended by an instrument signed by
the Owners of both of the Lots notarized and recorded in the real property records of Eagle
County, Colorado.
7.3 Enforcement. Enforcement of these covenants, restrictions and other provisions
of this Agreement shall be by an Owner by any proceeding at law or in equity against any person
or persons violating or attempting to violate any covenant or restriction, either to restrain the
violation and/or recover damages, and against the Lots to enforce any lien created by this
Agreement. The omission or failure of any Owner to enforce any covenant, restriction or other
provision set forth in this Agreement shall in no event be deemed a waiver of the right to do so
thereafter. In the event of arbitration pursuant to this Agreement, the prevailing party shall be
entitled to all costs expended, including reasonable attorneys' fees.
7.4 Partial Invalidity. If any provision of this Agreement or any paragraph, sentence,
clause, phrase or word, or the application thereof in any circumstance shall be invalidated, such
invalidity shall not affect the validity of the remainder of this Agreement, and the application of
the remaining provisions, paragraphs, sentences, clauses, phrases and words shall remain in full
force and effect.
7.5 Certain Terms Interchangeable. Whenever used herein, unless the context shall
otherwise provide, the singular number shall include the plural, the plural the singular, and the
use of any gender shall include all genders.
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7.6 Address for Notices. Each Owner shall register its mailing address with the other
Owner (if it is different from the address of its Lot) and all notices or demands intended to be
served upon an Owner shall be in writing addressed to such Owner at such address and either (i)
sent by registered or certified mail, postage prepaid, return receipt requested, (ii) sent via
overnight carrier such as Fed Ex, or (iii) personally delivered and shall be deemed received on
the date personally delivered or set forth on the receipt.
7.7 Evidence of CoMliance with this Agreement. Prospective purchasers of a Lot
shall be entitled to determine if a selling Owner is in default with respect to any maintenance
obligation or any other obligation under this Agreement by delivering a written inquiry with
respect thereto to the Owner of the other Lot. If no response is received to such inquiry within
fifteen (15) days of the date said notice is delivered, the nonselling Owner shall be deemed to
have waived any claims against the selling Owner arising under this Agreement except for any
claim evidenced by a lien filed of record in accordance with the provisions of Section 7.9 hereof
prior to the date such notice is delivered.
7.8 Payments by Third Parties. Any first mortgagee of any Lot may jointly or
singularly pay any taxes, liens or other charges which are in default and which may or have
become a charge against the Lot(s) and may pay overdue premiums for hazard insurance policies
or secure new hazard insurance coverage in the lapse of such policy for such properties and any
first mortgagee upon the making of such a payment shall be immediately owed reimbursement
therefor from the Owner.
7.9 Owner's Lien. Wherever in this Agreement it is provided that an Owner is
entitled to a lien on the Lot, residential unit or property of an Owner, the obligation of such
Owner shall be personal and the lien shall be on such Owner's residential unit and Lot but shall
be inferior to the lien, a first mortgage or trust deed holder. The lien shall be evidenced by a
notice thereof recorded in the real property records for Eagle County, Colorado. The Owner
entitled to the lien shall have the right to sue to collect the debt or to foreclose the lien in the
same fashion as either a mortgage or a deed of trust, and the prevailing party in such action shall
be entitled to its attorneys' fees and costs. Any sum secured by the lien shall bear interest at the
rate of twelve percent (12%) per annum from the date said sum became due and owing.
7.10 Dispute Resolution. Iln the event a dispute arises under this Agreement
including, without limitation, the failure of the Owners to reach any mutual agreements required
hereunder, said dispute shall be settled by binding arbitration. The Owners shall select a mutually
acceptable third parry to arbitrate said dispute. In the event that the parties cannot agree upon a
single arbitrator, each part), shall choose one arbitrator, and such arbitrators shall choose one
additional arbitrator, and the decision resolving the dispute shall be by majority of all of the
arbitrators. Should any party refuse to appoint an arbitrator within ten (10) days after written
request therefor by an Owner, the Owner requesting arbitration shall be empowered to select an
arbitrator for the refusing party. The parties to the arbitration shall initially share the costs
thereof, but the prevailing party shall be entitled to an award of its attorneys' fees, costs and
expenses. The decision of the arbitrators shall be binding and nonappealable.
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7.11 No Timeshare. No timeshare, fractional or interval ownership or similar interest,
whereby ownership of a Lot is shared by owners on a time basis shall be established on either
Lot without the prior written approval of both Owners and all lienors holding a first mortgage or
first deed of trust of record.
7.12 Effect of Provisions of Declaration. Each provision of this Agreement, and
agreement, promise, covenant and undertaking to comply with each provision of this Agreement
(i) shall be deemed incorporated in each deed or other instrument by which any right, title or
interest in any portion of the Lots is granted, devised or conveyed, whether or not set forth or
referred to in such deed or other instrument; (ii) shall, by virtue of acceptance of any right, title
or interest in any portion of the Lots by an Owner, be deemed accepted, ratified, adopted and
declared as a personal covenant of such Owner, and as a personal covenant, shall be binding on
such Owner and his heirs, personal representatives, successors and assigns; and shall be deemed
a personal covenant to, with and for the benefit of each Owner of any portion of the Lots; and
(iii) shall be deemed a real covenant by each of the Owners, for themselves, their successors and
assigns; and also an equitable servitude, running as a burden and upon the title to each and every
portion of the Lots.
[SIGNATURE PAGE ATTACHED HERETO]
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In witness whereof, the undersigned Owners have executed this Agreement as of the day
and year first above written.
LOT 23A OWNER:
THE PAL REVOCABLE 191ING TR ST-
GOLDSTEIN' FAMILY LIMITED
PARTNERSHIP. LLC,
a limited liability companv
LOT 23B OWNER:
VAIL PROPERTY HOLDINGS; LTD.
an Ontario corporation
By: By:_
Name: Name:
Title: Title:
STATE OF COLORADO )
) ss.
COUNTY OF )
Subscribed and sworn before me this _ day of Octobergeptember, 2009, by
as of Goldstein Family Limited Partnership, LLC.
a limited liability company'T he Pal Reyseable Living T.
Witness my hand and official seal.
My commission expires:
STATE OF COLORADO )
ss.
COUNTY OF )
Notary Public
Subscribed and sworn before me this day of October--tember, 2009, by
as of Vail Property Holdings, Ltd., an Ontario
corporation.
Witness my hand and official seal.
My commission expires:
Notary Public
474j30vl
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