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HomeMy WebLinkAboutPEC080029Application for Administrative Subdivision Plat Review T~?WN OF YAWL a Department of Community Development 75 South Frontage Road, Vail, Colorado 81657 te1:970.479.2139 fax: 970.479.2452 web: www.vailgov.com General Information: It is unlawful for any person, business, or corporation to violate any of the provisions of Title 13, Vail Town Code, or to transfer, sell, lease or agree to seY or lease, any lot, trail, parcel, site, separate interest (including a leasehold interest), interest in common, condominium interest, time-share estate, fractional fee, or time-share Ncense, or any other division within a subdivison within the Town until such subdivision has been approved In writing by the Administrator, Planning and Environmental Commission and/or the Council (whidiever is applicable) and a plat thereof recorded in the office of the Eagle County Clefk and Recorder. Type of AAplication and Fee: ^ Duplex Sutxiivision Plat $100 ~ AdministratNe Plat Correction $100 ^ Single Family Sulxlivision Plat $100 Condominium/Townhouse Plat $100 ' Description of the Request: A royal in the nature of an Administrative Plat Correction, of an Amended Final Plat of Lionsridge Sub ivision Filing No. 3,a Resu ivision o o oc own o Location of the Proposal: Lot: 5 Block: 4 Subdivision: Lionsridge Sub~division,Filing3 Physical Address: 1655 Ashen Ri dqe Road Vag 1 , Colorado Unit A (East) 210312202024 Parcel No.: (Contact Eagle Co. Assessor at 970-328-8640 for parcel no,) Unit B est 12202025 Zoning: Two Family Primary 3econdary Residential District Unit A Unit B Name(s) of Owner(s): ~~~~ .T _ MnffPt & Nagy Kazar~ an Christine P. Moffet Mailing Address: 1655 As=en 13idgp Rnad 37 54 ShnrPl ; na D ~ v __Vai~_~O 81657 Rhowe: Clearwater FL 34620-1736 Name of Applicant: Kazarian Mailing Address: c,lo Abplanalp Law Office, LL'C, Box 2800,_Vail CO 81658 Phone: _.970. 476.6500 - E-mallAddtess: art_at~nlanalp@ Fax 970.476.4765 earthlink.net For Office Use Only: Fee Paid: Check No.: By: Meeting Dat : , PEC No.: Planner: ~ Project No.: P J a - ~ F:lcdev~FORMS1PermitslPlanr-ng~A~nirrsUadve_AcliorrslPlal Revievr~ Page 1 of 4 v ~ ~ ~ I MAY 16 2008 al_regs.doc 12128/05 TOWN OF OI~I~ ~.~. ' ,r ~}"~Pl ar-r~t,~~O r,oS~~~ J o~vur.-T~ Application for Administrative Subdivision Plat Review ~~ DI Vi'l!L ~ Department of Community Development 75 South Frontage Road, Vail, Colorado 61657 te1:970.479.2139 fax: 970.479.2952 web: www.vailgov.com General Information: It is unlawful for any person, business, or corporation to violate any of the provisions of Title 13, Vail Town Code, or to transfer, sell, lease or agree to sell or lease, any lot, trail, parcel, site, separate interest (including a leasehold interest), interest in common, condominium interest, time-share estate, fractional fee, or time-share license, or any other division within a subdivision within the Town until such subdivision has been approved in writing by the Administrator, Planning and Environmental Commission and/or [he Council (whichever is applicable) and a plat thereof recorded in the office of the Eagle County Clerk and Recorder. Type of Application and Fee: ^ Duplex Subdivision Plat $100 ~l Administrative Plat Correction $100 ^ Single Family Subdivision Plat $100 fj Condominium/Townhouse Plat $100 Description of the Request: _A_pproval, in the nature of an Administrative Plat Correction, of an Amended Final Plat of Lionsridge Subdivision Filing No. 3,a Resu ivision o o oc , own o Location of the Proposal: Lot: 5 Block: 4 Subdivision: Lionsridge Sub'division,Filing3 Physical Address: 1 6 S S Amp n Ri da . Road _ Vail , Colorado Unit A (East) 210312202024 Parcel No.: (Contact Ea le Co. Assessor at 970-328-8640 for parcel no.) Unit B WesT--X6312202025 Zoning: Two Familv Primary Secondary Residential District Unit A Unit B Name(s) of Owner(s): cr~nnr~_.T_ Mnfi=Pt & Nanc~~t Kazarian Christine P. Moffet Mailing Address: 1 tiS~i Acnc~n Ri ~jrra Rnarl "il 54 ShorPl i nP rlriyr~ T Vail CO 81657 Rtto~als: Clearwater FL 34620-1736 le hhon 970.479.9522 Owner(sj ~ignature~s~: __ ~ ~ r ~n r n / ~~ ,. o, ~ ~n . Name of Applicant: Greaorv_J. _.Moffet, Christine P. Moffet,UNanc~ Kazarian MailingAddress• cyo Abplanalp Law Office, LLC, Bax 2800, .Vail CC 81558 Phone: 970.476.6500 E-mail Address: ~rt_ ab lava ~~ Fax 970. 476. 4765 earthlink.net For Office Use Only: Fee Paid: Check No.: 8y: 'Meeting Date: ~ PEC No.: ~~ Planner: Project No.: F:\cdev\FORMS\Permils\PlanninglAdminislrative_Actions\Plat Review\admin_plat_correclion_submitlal_regs.doc 12/28/05 Page 1 of 4 Telephone: 970.476.0300 970.476.6500 Telecopier: 970.476.4765 E-mail: Art.Abplanalp @earthlink.net Law Office of Arthur A. Abplanalp, Jr. L.L.C. Post Office Box 2800 Vail, Colorado 81658-2800 8 May 2008 Ms. Mary Randall Millennium Bank 2111 North Frontage Road West -Suite A Vail CO 81657 Re: Proposed Replat of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3 Town of Vail, Eagle County, Colorado Dear Ms. Randall: Physical Address: Suite 301 Vail 21 Building 472 East Lionshead Circle Vail, Colorado 81657 Following up on our recent discussion, this letter will confirm that this Office represents Mrs. Nancy Kazarian, the owner of the west portion of the above property in Vail, Colorado, the east half of which is owned by clients of your bank, Greg Moffet and Christine Moffet. Mr. and Mrs. Moffet have granted to your,bank a deed of trust recorded at Reception No. 200726107 of the real estate records of Eagle Coutlty, Colorado. Mrs. Kazarian and Mr. and Mrs. Moffet wish to revise the existing party wall agreement and resubdivision plat which govern and describe their respective properties in order conform those documents to the current configuration and relationship of their properties. The revised documents are enclosed with this letter. The revisions are not intended to, and we believe that the revisions do not, in any way affect your loan. Because the deed of trust granted for the benefit of your bank is senior to these revised documents, that deed of trust will govern. Because that deed of trust is senior to these revised documents, however, we do need your bank's ratification of these documents. If you find them to be acceptable, we will provide you with two execution mylar copies of the resubdivision plat for signature by a representative of your bank, and., at that time, those mylars may be executed in coordination with the execution of the revised party wall agreement. If you identify any concerns related to either of these documents, we will, of course, be pleased to discuss those concerns with you. In any event, we look forward to your early comments, in order that we may either forward the final mylar plats to you or work with you to resolve any concerns which your bank may have with these proposals. Thank you for your attention to this matter. Enclosure Arthur A. Abplanalp, Jr. TOWN OF VAIL, COLORADO Statement Statement Number: 8080000745 Amount: $100.00 05/19/200804:39 PM Payment Method: Check Init: RLF Notation: 1311 LAW OFFICE OF ARTHUR A ABPLANALP JR LLC ----------------------------------------------------------------------------- Permit No: PEC080029 Type: PEC -Exemption Plat Parcel No: 2103-122-0202-4 Site Address: 1655 LIONS RIDGE LP VAIL Location: 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 PEC APPLICATION FEES 100.00 Law Office of Arthur A. Abplanalp, Jr. L.L.C. Telephone: Post Office Box 2800 970.476.0300 Vail, Colorado 970.476.6500 81658-2800 Telecopier: 970.476.4765 E-mail: Art.Abplanalp C~earthlink.net 16 May 2008 Physical Address: Suite 301 Vail 21 Building 472 East Lionshead Circle Vail, Colorado 81657 Mr. Bill Gibson Department of Community Development Town of Vail 111 South Frontage Road West Vail, Colorado Hand Delivered Re: Amended Final Plat and Amended Party Wall Agreement Lot 5, Block 4, Lion's Ridge Subdivision, Filing No. 3 Kazarian/Moffet Dear Bill: ~F V'A~L Following up on our recent conversations, you will find enclosed the following proposed documents related to the above property in Vail: Application for administrative correction plat, executed in duplicate, by the owners of the above property, accompanied by the check of this Office in the amount of $100.00; 2. A proposed Amended Final Plat related to the above property; A proposed Amended and Restated Party Wall Agreement related to the above property; This Office represents Mrs. Nancy Kazarian, the owner of Unit B, being the west unit of this property. Mr. and Mrs. Moffet, the owners of Unit A, have been working with Mr. and Mrs. Kazarian to document changes which have been made to the property over recent years (with Town approval) which require the changes to the plat reflected on this revision. In accordance with our discussions, these are unsigned draft documents. We hope to have the Town review the documents, particularly the proposed amended final plat, before it is circulated to the lenders. Bank of America has indicated that it has asix-week turn-around time, and it would be best that whatever is sent to that institution has been approved by the Town. ~ ~c~~od~ n MAY 1 G 2008 U If you have any questions regarding this material, please do not hesitate to contact me. We look forward to hearing from you in the near future. Enclosures xc: Mr. and Mrs. David Kazarian (w/o enclosures) Mr. and Mrs. Greg Moffet (w/o enclosures) Telephone: 970.476.0300 970.476.6500 Telecopier: 970.476.4765 E-mail: Art.Abplanalp @earthlink.net Law Office of Arthur A. Abplanalp, Jr. L.L.C. Post Office Box 2800 Vail, Colorado 81658-2800 30 May 2008 Mr. Nicole Peterson Department of Community Development Town of Vail 111 South Frontage Road West Vail CO 81657 Re: Kazarian/Moffet -Lot 5, Block 4, Lions Ridge Filing No. 3 Dear Nicole: As you are aware, this Office represents the Ms. Nancy Kazarian, one of the owners of the above property. In accordance with your request, the proposed correction resubdivision plat for this property has been revised by the deletion of the signature blocks earlier provided for the PEC and the Town Council. A blue-line of the revised plat accompanied this letter. Upon confirmation from you that the revised plat meets with your approval, we will circulate the mylars to the lenders and to the owners for signatures. As I advised you, one of the lenders, Bank of America, has indicated that it requires a 4-6 week cycle for this process, so it will be a while before the mylars can be presented to the Town. That will occur when we have each of the required signatures. If you have any questions, you may contact me. Thank you for your assistance in this matter. Enclosure mac: Mr. and Mrs. David Kazarian Mr. and Mrs. Gregory Moffet D C~C~I~~Mf~ D MAY 3) 2008 TOWN OF VAIL Physical Address: Suite 301 Vail 21 Building 472 East Lionshead Circle Vail, Colorado 81657 Telephone: 970.476.0300 970.476.6500 Telecopier: 970.476.4765 E-mail: Art.Abplanalp @earthlink.net To: From: Date: Subject: Dear Nicole: Law Office of Arthur A. Abplanalp, Jr. L.L.C. Post Office Box 2800 Vail, Colorado 81658-2800 MEMORANDUM Physical Address: Suite 301 Vail 21 Building 472 East Lionshead Circle Vail, Colorado 81657 Nicole Peterson, Town of Vail Department of Community Development Arthur A. Abplanalp, Jr. 13 August 2008 Kazarian/Moffet Replat and Amended Party Wall Agreement Confirming my telephone message and e-mail to you of earlier this morning, we now have, and I submit with this memorandum, what I believe is required for the processing of the resubdivision plat and amended party wall agreement for the Kazarian/Moffet property on Lionsridge. This material includes (a) two mylar duplicates of the plat, executed by all owners and lienholders, (b) one original of the amended party wall declaration executed by all owners and lienholders, (c) the title report upon which we relied in determining owner and lienholder status, and (d) checks for recording with the Eagle County Clerk and Recorder. The processing fee payable to the Town of Vail was, I believe, submitted at the time you reviewed the original proposal. Please let me know whether you have any further requirements. If the material is found to be acceptable, please let me know when the plat and declaration have been submitted to the Eagle County Clerk and Recorder. Thank you for your continued assistance in this matter. Vgfy truly Enclosures xc: Mr. and Mrs. David Kazarian Mr. and Mrs. Greg Moffet Arthur A. Abplan~, Jr. Chicago Title Insurance Company ALTA COMMITMENT Our Order No. V50020637 Schedule A Cust. Ref.: Property Address: PARCELS A AND B, LOT 5, BLOCK 4, LIONS RIDGE FILING 3 VAIL, CO 81657 1. Effective Date: May O1, 2008 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder $0.00 Proposed Insured: GREGORY J. MOFFET AND CHRISTINE P. MOFFET AS TO PARCEL 1 AND NANCY A. KAZARIAN AS TO PARCEL 2 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Title to the estate or interest covered herein is at the effective date hereof vested in: GREGORY J. MOFFET AND CHRISTINE P. MOFFET AS TO PARCEL 1 AND NANCY A. KAZARIAN AS TO PARCEL 2 5. The Land referred to in this Commitment is described as follows: SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION Our Order No: V50020637 LEGAL DESCRIPTION PARCEL 1 PARCEL A, A RESUBDIVISION OF LOT 5, BLOCK 4, LION'S RIDGE SUBDIVISION FILING NO. 3, ACCORDING TO THE PLAT RECORDED OCTOBER 18, 1983 IN BOOK 370 AT PAGE 807, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL2 PARCEL B, A RESUBDIVISION OF LOT 5, BLOCK 4, LION'S RIDGE SUBDIVISION FILING N0. 3, ACCORDING TO THE PLAT RECORDED OCTOBER 18, 1983 IN BOOK 370 AT PAGE 807, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B -Section 1 (Requirements) Our Order No. V50020637 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. V50020637 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48 AT PAGE 542. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48 AT PAGE 542. 11. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED SEPTEMBER 20, 1972, IN BOOK 225 AT PAGE 443 AND AS AMENDED IN INSTRUMENT RECORDED SEPTEMBER 29, 1972 IN BOOK 225 AT PAGE 565 AND AMENDED IN BOOK 233 AT PAGE 53. 12. RESTRICTIVE COVENANTS WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. V50020637 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED JANUARY 02, 1980, IN BOOK 296 AT PAGE 646 AND AS AMENDED IN INSTRUMENT RECORDED DECEMBER 27, 1985 IN BOOK 432 AT PAGE 930. 13. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLATS OF LION'S RIDGE SUBDIVISION FILING NO. 2 AND LION'S RIDGE SUBDIVISION FILING N0. 3. 14. UTILITY EASEMENT AS GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC., INC., IN INSTRUMENT RECORDED AUGUST 24, 1967, IN BOOK 211 AT PAGE 103 AND RECORDED JUNE 19, 1973 IN BOOK 229 AT PAGE 655 AND RECORDED JULY 31, 1973 IN BOOK 230 AT PAGE 351. 15. AGREEMENT BETWEEN TAYVEL ENVIRONMENTAL LAND COMPANY AND MOUNTAIN STATES TELEPHONE AND TELEGRAPH COMPANY PROVIDING FOR TELEPHONE INSTALLATION AND SERVICE THROUGHOUT LION'S RIDGE SUBDIVISION, FILING N0. 2 RECORDED SEPTEMBER 27, 1973 IN BOOK 231 AT PAGE 291. 16. TERMS, CONDITIONS AND PROVISIONS OF ENCROACHMENT AGREEMENT RECORDED NOVEMBER 30, 1983 IN BOOK 373 AT PAGE 889. 17. TERMS, CONDITIONS AND PROVISIONS OF ANNEXATION AGREEMENT RECORDED NOVEMBER O1, 1985 IN BOOK 428 AT PAGE 936 AND IN BOOK 428 AT PAGE 937. 18. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RESUBDIVISION PLAT OF LOT 5, BLOCK 4, LION'S RIDGE SUBDIVISION FILING NO. 3 RECORDED OCTOBER 18, 1983 IN BOOK 370 AT PAGE 807. 19. TERMS, CONDITIONS AND PROVISIONS OF PARTY WALL AND COMMON AREAS DECLARATION BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW AS CONTAINED IN INSTRUMENT RECORDED OCTOBER 18, 1983 IN BOOK 370 AT PAGE 808 AND ALTA COMMITMENT Schedule B -Section 2 (Exceptions) Our Order No. V50020637 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: RECORDED DECEMBER 1, 1983 IN BOOK 373 AT PAGE 957. 20. TERMS, CONDITIONS AND PROVISIONS OF ENCROACHMENT AGREEMENT RECORDED APRIL 16, 1992 IN BOOK 577 AT PAGE 799. (ABOVE ITEMS AFFECT PARCEL 1 AND 2) 21. DEED OF TRUST DATED SEPTEMBER 24, 2007 FROM GREGORY J. MOFFET AND CHRISTINE P. MOFFET TO THE PUBLIC TRUSTEE OF COUNTY FOR THE USE OF BANK OF AMERICA, N.A. TO SECURE THE SUM OF $1,376,000.00, AND ANY OTHER AMOUNTS PAYABLE UNDER THE TERMS THEREOF, RECORDED SEPTEMBER 28, 2007, UNDER RECEPTION N0. 200726107. 22. DEED OF TRUST DATED SEPTEMBER 28, 2007, FROM GREGORY J. MOFFET AND CHRISTINE P. MOFFET TO THE PUBLIC TRUSTEE OF COUNTY FOR THE USE OF MILLENNIUM BANK TO SECURE THE SUM OF $60,000.00 RECORDED OCTOBER 11, 2007, UNDER RECEPTION NO. 200727199. (ITEMS 21 AND 22 AFFECT PARCEL 1) LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY -GRAND JUNCTION DISCLOSURE STATEMENTS Note: Pursuant to CRS 10-11-122, notice is hereby given that: A) The subject real property may be located in a special taxing district. B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County Treasurer's authorized agent. C) The information regarding special districts and the boundaries of such districts may be obtained from the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor. Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that does not conform, except that, the requirement for the top margin shall not apply to documents using forms on which space is provided for recording or filing information at the top margin of the document. Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every title entity shall be responsible for all matters which appear of record prior to the time of recording whenever the title entity conducts the closing and is responsible for recording or filing of legal documents resulting from the transaction which was closed". Provided that Land Title Guarantee Company conducts the closing of the insured transaction and is responsible for recording the legal documents from the transaction, exception number 5 will not appear on the Owner's Title Policy and the Lenders Policy when issued. Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be issued) upon compliance with the following conditions: A) The land described in Schedule A of this commitment must be a single family residence which includes a condominium or townhouse unit. B) No labor or materials have been furnished by mechanics or material-men for purposes of construction on the land described in Schedule A of this Commitment within the past 6 months. C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed mechanic's and material-men's liens. D) The Company must receive payment of the appropriate premium. E) If there has been construction, improvements or major repairs undertaken on the property to be purchased within six months prior to the Date of the Commitment, the requirements to obtain coverage for unrecorded liens will include: disclosure of certain construction information; financial information as to the seller, the builder and or the contractor; payment of the appropriate premium fully executed Indemnity Agreements satisfactory to the company, and, any additional requirements as may be necessary after an examination of the aforesaid information by the Company. No coverage will be given under any circumstances for labor or material for which the insured has contracted for or agreed to pay. Note: Pursuant to CRS 10-11-123, notice is hereby given: This notice applies to owner's policy commitments containing a mineral severance instrument exception, or exceptions, in Schedule B, Section 2. A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise conveyed from the surface estate and that there is a substantial likelihood that a third party holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and B) That such mineral estate may include the right to enter and use the property without the surface owner's permission. Nothing herein contained will be deemed to obligate the company to provide any of the coverages referred to herein unless the above conditions are fully satisfied. Font DISCLOSURE 09/01/02 NOTICE OF PRIVACY POLICY Fidelity National Financial Group of Companies /Chicago Title Insurance Company Security Union Title Insurance Company July 1, 2001 We recognize and respect the privacy expectations of today's consumers and the requirements of applicable federal and state privacy laws. We believe that making you aware of how we use your non-public personal information ("Personal Information' ), and to whom it is disclosed, will form the basis for a relationship of trust between us and the public that we serve. This Privacy Statement provides that explanation. We reserve the right to change this Privacy Statement from time to time consistent with applicable privacy laws. In the course of our business, we may collect Personal Information about you from the following sources: * From applications or other forms we receive from you or your authorized representative; * From your transactions with, or from the services being performed by, us, our affiliates, or others; * From our internet web sites; * From the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates or others; and * From consumer or other reporting agencies. Our Policies Regarding the Protection of the Confidentiality and Security of Your Personal Information We maintain physical, electronic and procedural safeguards to protect your Personal Information from unauthorized access or intrusion. We limit access to the Personal Information only to those employees who need such access in connection with providing products or services to you or for other legitimate business purposes. Our Policies and Practices Regarding the Sharing of Your Personal Information We may share your Personal Information with our affiliates, such as insurance companies, agents, and other real estate settlement service providers. We also inay disclose your Personal Information: * to agents, brokers or representatives to provide you with services you have requested; * to third-party contractors or service providers w o provide services or perform marketing or other functions on our behalf; and * to others with whom we enter into joint marketing agreements for products or services that we believe you may find of interest. In addition, we will disclose your Personal Information when you direct or d~ive us permission, when we are required by law to do so, or when we suspect fraudulent or criminal activities. We arso may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. One of the important responsibilities of some of our affiliated companies is to record documents in the public domain. Such documents may contain your Personal Information. Right to Access Your Personal Information and Ability to Correct Errors Or Request Changes Or Deletion Certain states afford you the right to access your Personal Information and, under certain circumstances, to find out to whom your Personal Information has been disclosed. Also, certain states afford ,you the right to request correction, amendment or deletion of your Personal Information. We reserve the right, where permitted by law, to charge a reasonable fee to cover the costs incurred in responding to such requests. All requests submitted to the Fidelity National Financial Group of Companies/Chicago Title Insurance Company shall be in writing, and delivered to the following address: Privacy Compliance Officer Fidelity National Financial, Inc. 4050 Calle Real, Suite 220 Santa Barbara, CA 93110 Multiple Products or Services If we provide you with more than one financial product or service, you may receive more than one privacy notice from us. We apologize for any inconvenience this may cause you. Fozm PRIV.POL.Q-II NOTICE OF PRIVACY POLICY OF LAND TITLE GUARANTEE COMPANY, INC., A COLORADO CORPORATION AND MERIDIAN LAND TITLE, L.L.C., A COLORADO LIMITED LIABLITY COMPANY, D/B/A LAND TITLE GUARANTEE COMPANY -GRAND JUNCTION This Statement is provided to you as a customer of Land Title Guarantee Company, a Colorado corporation and Meridian Land Title, LLC, d/b/a Land Title Guarantee Company -Grand Junction. We want you to know that we recognize and respect your privacy expectations and the requirements of federal and state privacy laws. Information security is one of our highest priorities. We recognize that maintaining your trust and confidence is the bedrock of our business. We maintain and regularly review internal and external safeguards against unauthorized access to non-public personal information ("Personal Information"). In the course of our business, we may collect Personal Information about you from: * applications or other forms we receive from you, including communications sent through TMX, our web-based transaction management system; * your transactions with, or from the services being performed by, us, our affiliates, or others; * a consumer reporting agency, if such information is provided to us in connection with your transaction; and * the public records maintained by governmental entities that we either obtain directly from those entities, or from our affiliates and non-affiliates. Our policies regarding the protection of the confidentiality and security of your Personal Information are as follows: * We restrict access to all Personal Information about you to those employees who need to know that information in order to provide products and services to you. * We maintain physical, electronic and procedural safeguards that comply with federal standards to protect your Personal Information from unauthorized access or intrusion. * Employees who violate our strict policies and procedures regarding privacy are subject to disciplinary action. * We regularly access security standards and procedures to protect against unauthorized access to Personal Information. WE DO NOT DISCLOSE ANY PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT PERMITTED BY LAW. Consistent with applicable privacy laws, there are some situations in which Personal Information may be disclosed. We may disclose your Personal Information when you direct or give us permission; when we are required by law to do so, for example, if we are served a subpoena; or when we suspect fraudulent or criminal activities. We also may disclose your Personal Information when otherwise permitted by applicable privacy laws such as, for example, when disclosure is needed to enforce our rights arising out of any agreement, transaction or relationship with you. Our policy regarding dispute resolution is as follows. Any controversy or claim arising out of or relating to our privacy policy, or the breach thereof, shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Fozm PRIV.POL.L'IG.1 Re: Land Title Delivery (PARCELS A AND B, LOT 5, BLOCK 4, ... Subject: Re: Land Title Delivery (PARCELS A AND B, LOT 5, BLOCK 4, LIONS RIDGE FILIN)(buyer/owner MOPPET/KAZARIAN)(our 50020637) From: "Arthur A, Abplanalp, Jr." <Art.Abplanalp@earthlink.net> Date: Wed, 07 May 2008 10:25:20 -0600 To: cmcelvany@Itgc.com Thank you very much for the quick response! Regards, Art Abplanalp cmcelvany@Itgc.com wrote: ART, PLEASE NOTE THAT BOTH OF THE ORIGINAL DEEDS OF TRUST WERE PAID OF AND RELEASED AND HAVE BEEN REPLACED WITH OTHERS. 1 of 1 5/7/2008 10:40.AM Land Title Delivery (PARCELS A AND B, LOT 5, BLOCK 4, LION... Subject: Land Title Delivery (PARCELS A AND B, LOT 5, BLOCK 4, LIONS RIDGE FILIN)(buyer/owner MOPPET/KAZARIAN)(our 50020637) From: cmcelvany@Itgc.com Date: Wed, 07 May 2008 16:05:07 -0000 To: art.abplanalp@earthlink.net ART, PLEASE NOTE THAT BOTH OF THE ORIGINAL DEEDS OF TRUST WERE PAID OF AND RELEASED AND HAVE BEEN REPLACED WITH OTHERS. Linked Commitment Delivery i.~nd Title Gi7ARA~IT@~ C{~n1 R~nlY Attached is your Land Title commitment for order number 50020637 in Adobe AcrobatTM format. See the bottom of this email for installation instructions and more details. For your convenience, we have a summary of your commitment below. Notice the links within the document; you can click these links and open the associated image. Any text in the Commitment Summary that has been updated or changed appears in a different color. If you have questions regarding any of the links in this email, please contact Vail Title Dept. by calling 970-476-2251. ART ABPLANALP PO BOX 2800 VAIL, CO 81657-2800 Attn: ART ABPLANALP Phone:970-476-6500 Fax: 970-476-4765 EMail: art.abplanalp@earthlink.net Sent Via Courier*** 1 of 5 5/7/2008 10:21 AM •~ AMENDED AND RESTATED PARTY WALL AGREEMENT AND DECLARATION OF COVENANTS, CONDITIONS AND RESERVATIONS FOR A RESUBDIVISION OF LOT 5, BLOCK 4, LIONS RIDGE SUBDIVISION, FILING NO. 3 COUNTY OF EAGLE, STATE OF COLORADO DRAFT - 07 May 2008 This Amended and Restated Party Wall Agreement and Declaration of Covenants, Conditions and Reservations for a Resubdivision of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado (the "Agreement"), is made by and between each and all owners of such property and is ratified by any lienholders having a security interest in such property. RECITALS I. Gregory J. Moffet and Christine P. Moffet are the owners of the real property situate in the County of Eagle, State of Colorado; described as Parcel A, a resubdivision of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado, according to the recorded plat thereof, as amended ("Parcel A"). Nancy A. Kazarian is the owner of the real property situate in the County of Eagle, State of Colorado, described as Parcel B, a resubdivision of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado, according to the recorded plat thereof, as amended ("Parcel B"). Gregory J. Moffet, Christine P. Moffet and Nancy A. Kazarian comprise all owners of the real property situate in the County of Eagle, State of Colorado, described as Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado, according to the recorded plat thereof, as amended ("Lot 5). Parcel A and Parcel B are sometimes referred to collectively as the "Parcels" or the "Property" or individually as a "Parcel." The owners of the Parcels are sometimes referred to collectively as the "Owners" or individually as an "Owner." Restrictions and limitations contained herein which refer to "Owner" or "Owners" include any person holding, in possession or present on a Parcel under the authority of or with the permission of an actual Owner. 2. There has been constructed on Lot 5, as described on the plat recorded in the Office of the Eagle County Clerk and Recorder at Reception No. 267120, being Book 370 at Page 807, which shall be amended by an amended resubdivision map recorded contemporaneously with this amended and restated Party Wall Agreement (the "Map"), to which references in this Agreement to the "Map" refer, a building consisting of two dwelling units, each designed and intended for use and occupancy as a residential dwelling unit and two garages, which are separated by two separate party walls (collectively, the "Party Wall") and which, together with the Parcel upon which each is located are sometimes referred to herein separately s as "Unit" or collectively as "Units". 3. There has previously been recorded in the records of the Eagle County Clerk and Recorder one or more party wall agreements governing the use and ownership of Lot 5, Parcel A and Parcel B (collectively, the "Prior Party Wall Agreements"). 4. The Owners wish to amend the Prior Party Wall Agreements in order to better provide for separate ownership, use and enjoyment of the Units located upon the Lot 5, and to establish certain rights and obligations associated with the Parcels and the Party Wall separating the Units, the footings underlaying such Party Wall and the roof over such Party Wall. DECLARATION The Owners (a) do hereby revoke and repeal any and all Prior Party Wall Agreements, including but not limited to that certain party wall agreement recorded at Reception No. 267126 of the records of the Eagle County Clerk and Recorder, and (b) do publish and declare that the following terms, covenants, conditions, easements, restrictions, uses, reservations, limitations and obligations shall be deemed to run with the land described herein, shall be a burden and a benefit to the Owners, their personal representatives, heirs, successors and assigns and any person acquiring or owning an interest in the real property which is described herein and improvements built thereon, their grantees, personal representatives, heirs, successors and assigns. 1. General Rules of Law to Apply. To the extent not inconsistent with the provisions of this Amended and Restated Party Wall Agreement, the general rules of law in Colorado regarding party walls and liability for property damage due to negligence or willful acts or omissions shall apply to the Party Wall dividing Parcel A from Parcel B. 2. Part•~Wall. No Owner, tenant or guest of any Owner shall alter or change the Party Wall in any manner, interior decoration excepted, without the express written permission of the Owner of the other Parcel, and the Party Wall shall always remain in the same location as when erected, and each Owner shall have a perpetual easement in that part of the Property of the other on which the Party Wall is located for party wall purposes. 3. Sharing of Maintenance and Repair. The maintenance of the Party Wall and other improvements on the Property to which the Owners are entitled to joint use (including the Common Access Easement, the Common Parking and Access Easement (the "Easements") and the improvements associated therewith, and the area above the garages between the garage ceiling joists and the roof joists)(collectively the "Common Areas"), and, in the event of damage or destruction of said Party Wall or jointly used improvements on the Easements from any cause, other than the negligence of the Owner of either parcel, or that Owner's tenants or guests, the cost 2 ~~ of the reasonable repair of the Party Wall, and every part thereof, shall be shared by each Owner, with the Owner of Parcel A being responsible for one-half of such expense and the Owner of Parcel B being responsible for one-half of such expense, provided, however, that, if the repair or maintenance is caused by the act, omission or negligence of the Owner of only one Parcel, or the tenants or guests of the Owner of only one Parcel, then the cost of repair or maintenance shall be the responsibility of the Owner whose act, omission or negligence necessitated such repair or maintenance. 4. Destruction of the Party Wall by Fire or Other Casualty If the Party Wall, or any part thereof, is destroyed or damaged by fire or other casualty, any Owner or Owners shall contribute to the cost of the restoration thereof as set forth in Section 2 above, provided, however, that, if the destruction or damage is caused by the act, omission or negligence of the Owner of only one Parcel, then the cost of restoration shall be the responsibility of the Owner whose act, omission or negligence was the cause of such destruction or damage. Nothing contained herein shall prejudice or affect the right of any Owner under any rule of law regarding liability for negligent or willful acts or omissions. 5. Destruction of a Dwelling Unit• In the event of the destruction of the improvements on either or both Parcels, or any portion thereof, the said improvements or portion so destroyed shall be restored according to a uniform architectural plan and finish. In the event of damage to the improvements on either or both Parcels, or any portion thereof, such damage shall be repaired within thirty days unless repairs require more than thirty days to complete. With the exception of destruction of or damage to the Party Wall, as provided above, the cost of restoration or repairs shall be borne solely by the Owner of whatever portion of the improvements on the Parcels is affected by such destruction or damage. The Owner of each Parcel shall be required to maintain adequate fire and hazard insurance to cover the full replacement cost of each unit and shall provide evidence of such insurance to the Owner of the other Parcel within ten days of request, not to exceed one time each calendar year. 6. Weatherproofing_ Notwithstanding any other provision of this Amended and Restated Party Wall Agreement, any Owner who, by his negligent or willful act or omission, causes the Party Wall to be exposed to the elements shall bear the entire cost of repairing and restoring the Party Wall resulting from the damage caused thereby and furnishing necessary protection against such eleti~ents. 7. Exterior Decoration. The exterior of the improvements on the Property shall be decorated with a uniform color, which s11a11 remain the same as that in existence at the time of any proposed change, unless otherwise expressly agreed in writing by all Owners. The necessity and time for making such exterior decoration shall be determined by the Owners, and, in the event of any disagreement, such dispute shall be resolved in the manner set forth herein. 3 8. Maintenance of Roofs. The expense of maintaining, repairing or replacing the roofs over the improvements on each Parcel shall be borne solely by the Owner of such Parcel. 9. Maintenance of Lnprovements. The Owners of the improvements on each Parcel shall maintain the improvements on their respective Parcels, and all land or property connected with such Parcel and the associated Unit, in a neat an uniform manner, so that the overall appearance of the Units and other improvements on each Parcel is one cohesive structure and property. 10. Cost of Maintenance of Common Areas. In addition to the above, the cost of maintaining any common area such as but not limited to the Connnon Parking and Access Easement and the Common Access Easement, will be shared equally by the Owners of the Parcels, as set forth in this Agreement. 11. Right to Contribution Runs with the Land. The right of any Owner to contribution from any other Owner under this Amended and Restated Party Wall Agreement shall be appurtenant to such Owner's Parcel and shall run with the land and shall pass to and be the responsibility of such Owner's successors in title. The easements and restrictions created herein and on the Map are and shall be perpetual, and construed as covenants running with the land and each and every person accepting by deed or otherwise any portion of the Lot shall be deemed to have accepted the same with the understanding that the accepting Owner is bound hereby and that each and every subsequent Owner is also bound hereby, and such subsequent owner is entitled to the benefits hereof and that any other present or future owner by deed or otherwise is similarly bound hereby and entitled to the benefit hereof, all to the same extent as though such person had signed this instrument. 12. Easements for Access and Utilities. The Owners, their successors and assigns, shall have an easement over, under and across that portion of the Lot not occupied by a structure or improvement and reasonably required for the installation 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 equipment incidental thereto, provided, however, that t}ie surface of tl~e land shall be restored as nearly as possible to its prior condition, that, in the case of any such activity solely for the benefit of the Owner of one Parcel then that benefitted Owner shall be solely responsible for the cost of such activity, for the restoration of the land as nearly as reasonably possible to its prior condition, and for the cost of such restoration. 13. Access and Utility Easements. Each Owner shall have anon-exclusive right over, across, under and through that part of Lot 5 not occupied by a structure for the purpose of access, maintenance, repairs, and for all purposes reasonably necessary to perform any duties or obligations or exercise any rights or easements of such Owner as set forth herein. The use of 4 such easement by an Owner shall be done in such manner as not to unreasonably interfere with the rights of the other Owner as set forth herein. Common utility or service connections or lines, common facilities or other equipment and property located in or on either of the Units but used in common with another Unit, if any, shall be owned as tenants in conunon in equal undivided one- halfinterests by the Owners of each Unit and, except for any expense or liability caused through the negligence or willful act of any Owner, its family, agent or invitee, which shall be borne solely by such Owner, all expenses and liabilities connected therewith shall be shared proportionately with such ownership as set forth in Section 3 above. The Owner of the Unit on which such property is not located shall have a perpetual easement in and to that part of such other Unit containing such items as reasonably necessary for purposes of maintenance, repair and inspection. 14. Use Restrictions Generall~pplicable to Lot 5. The Lot and the Parcels comprising the Lot shall be subject to the following restrictions related to use: (a) The use of each Unit shall be restricted to asingle-family residential dwelling as a permitted use, and such use, as well as conditioned and accessory uses, shall be as defined and permitted by the Covenants for Lions Ridge Subdivision, Filing No. 3, and this Amended and Restated Party Wall Agreement. For purposes of calculation of use rights, including but not limited to gross residential floor area or any similar calculation. used by the Town of Vail (the "Town") in the future, each Parcel shall be entitled to development rights as established under applicable Town ordinances and regulations. (b) Because of the close proximity of the two Units to each other and to the Party Wall, no noxious, offensive activity, loud music or loud noise shall be carried on or upon any part of either Unit, nor shall anything be done or placed on or in any part of the Units, which is or may become an unreasonable nuisance, disturbance or annoyance to the Owner of the other Unit. The Owners acknowledge and agree that excessive noise and other nuisances are to be avoided. Tenants (either under a long term rental or a short tetYrt rental with consent of the Owners of the other Parcel) and Owners shall respect the rights and privacy of the Owners and persons residing in the other Parcel and in no way shall infringe upon the rights of the latter persons to peaceful possession and enjoyment of the latter Parcel. (c) Tenants (either under a long term rental or a short term rental with consent of the Owner of the other Parcel) are not permitted to have pets on the Lot without the written consent of the Owner of the other Parcel. (d) No animals shall be kept or maintained in, on or upon either Unit, except domesticated dogs or cats of any weight and other animals under two pounds in 5 weight; provided, however, that (i) such animals (a) are kept under control at all times, (b) do not present a nuisance to the other Owner and (c) are kept controlled in strict compliance with all Town ordinances and regulations which apply to such animals, and (ii) that exotic animals (such as and including but not limited to snakes, reptiles, and rodents other than pet mice and hamsters) shall not be permitted under this provision. (e) No time sharing, interval ownership or similar interest, as defined from time to time by the Municipal Code of the Town of Vail, shall be established on either Unit without the prior written approval of both Owners, which approval shall be reflected in a document of record. (f) The Owners may, from time to time, undertake such landscaping and general outdoor improvements, including but not limited to Common Parking and Access Easement, as they may mutually and unanimously deem proper for the harn~onious improvement of both Parcels in a comm~on theme. Except for any expense or liability caused through the negligence or willful act of any Owner, which shall be borne solely by such Owner, each Owner shall be solely responsible for all expenses, liabilities and general upkeep responsibilities with respect to such landscaping and outdoor improvements of their respective Parcels. An Owner shall not damage the value of the other Parcel by his actions or omissions, such as by shoddy upkeep outside, but both Owners shall make all reasonable efforts to preserve a harmonious common appearance of the Units. Unless otherwise limited herein, neither Owner shall be prevented from adding any additional natural landscaping, trees or similar items to such Owner's Parcel, or from installing grass, with or without lawn sprinkling facilities thereto, all at the sole expense, maintenance and upkeep of such Owner, unless otherwise specifically agreed to in writing by the Owners themselves. l 5. Establishment, Use of and Access to Common Access Easement, Common Parking and Access Easement and Common Areas. The locations on the Plat identified as the Common Access Easement and Common Parking and Access Easement, including but not limited to (w) the decks and walkways, (x) the driveway, (y) the parking area and the elevator providing access to the garages on the Property, and (z) the area within the garage structures above the garage ceiling joists and below the garage roof joists, generally referred to herein as the "Common Areas", are proclaimed to be used by the Owners of both Units for the purposes provided herein. No Owner, tenant or guest of any Owner shall alter or change said Easements or Common Areas in any manner without the express written consent of all Owners, and said Easements and Common Areas shall remain in the same location as they exist at the time of this Agreement, and all subsequent Owners of either Unit, as well as their tenants, invitees, licensees, guests and agents shall have a perpetual easement and commo-1 access over that part of the C Property owned by the other Owner over which said Easements and Common Areas are located for the purposes stated in this section. Notwithstanding any other provision contained in this document regarding the use and enjoyment of the Lot by the Owners, the Owners of Parcel A and Parcel B shall be entitled to non-exclusive use of and access to: (a) the Common Access Easement identified on the Map as the "Common Access Easement" for pedestrian access to each Parcel, provided, however that, (i) with reference to the area of the Common Access Easement which conflicts with the residential building, and defined on the Map as Vertical Limit A, only the area above 8516.00 feet in elevation shall be the "Common Access Easement" and (ii) with reference to the area of the Common Access Easement which conflicts with the garage of Unit B, and defined as "Vertical Limit B", only the area above 8,512.40 feet in elevation shall be the "Common Access Easement" (the benchmark for these elevations being an elevation of 8497.18 feet in elevation at the northeast comer of an electrical transformer pad identified on the Map as "Basis of Elevation"), and (b) the Common Parking and Access Easement identified on the Map as the "Common Parking and Access Easement" for (i) pedestrian use of the deck above the covered parking area for access to each Parcel and for recreational purposes not disruptive to persons in the other Parcel; and (ii) with reference to other areas of the "Common Parking and Access Easement", for pedestrian, vehicular and other rights of access, provided, however, that during periods when the residences on both parcels are occupied, those persons resident on Parcel A shall be entitled to the exclusive use for parking of the south one-half of the Common Parking and Access Easement and those persons resident on Parcel B shall be entitled to the exclusive use for parking of the northerly one-half of the Common Parking and Access Easement, and (c) the area within the garage structures above the garage ceiling joists and below the garage roof joists, provided, however, that this area may be used by the parties for only for storage in equal proportions and for any other purpose agreed upon by the parties in writing, and (d) the Access Easement identified on the Map as the "Access Easement" for pedestrian and vehicular access to the Common Parking and Access Easement and the residences on the Property. 16. Lien Ri ]g lts. If the Owner of either Parcel shall neglect or refuse to pay its share of any expenses, including but not limited to the maintenance or repair`of the Party Wall or the Common Areas, to be borne by that Owner hereunder, whether because of the actions, inactions or negligence of that Owner, the Owner's tenants or guests, the other Owner may take such action as maybe reasonably necessary to maintain or repair the Party Wall or Common Areas or such other part of the Property for which the Owners have joint financial responsibility or take such other action as maybe reasonably necessary. The non-defaulting owner shall be entitled to recover, and shall be entitled to, a lien on the premises of the Owner filing to pay, for the amount of such defaulting Owner's share of the repair or replacement cost, together interest thereon at the rate of 18% per annum after the date of expenditure, with reasonable attorneys' fees and costs of collection. Notwithstanding the creation of any such lien, the Owner of the Parcel upon which restoration or repairs have been performed shall continue to be personally liable for payment of the same. The non-defaulting Owner entitled to recovery shall have the option of collecting such obligation through foreclosure or otherwise. The non-defaulting Owner shall likewise and without limiting that Owner's right to foreclose such lien have the right to maintain an action at law for damages, together with the associated relief described above. 17. Right of First Refusal. Each Owner shall have a right of first refusal to purchase the other Parcel from the Owner thereof in the event the latter receives or proposes an offer for the sale, conveyance or transfer of such Parcel, according to the following terms and conditions: (a) In the event either Owner determines to sell, convey or transfer, for consideration, the Parcel owned by that Owner, or any interest therein, that Owner (the "Conveying Owner") shall first propose to the other Owner (the "Other Owner") the ternis of any proposed sale, conveyance or transfer by providing the Other Owner with a copy of any proposed contract, of, if there is no contract, a summary the terns of such proposal. Each Owner agrees that no sale, conveyance or transfer shall be proposed upon terms which are upon terms so unique that they cannot be matched by the other Owner because of their uniqueness, such as personal services or an exchange of property. The Other Owner shall then have ten days after receipt of such proposal within which to elect to purchase the subject Parcel upon such tei-~ns, in which event that Other Owner shall give the Conveying Owner notice of such exercise within such ten-day period. In the event the Conveying Owner cannot be located, the Other Owner may post such notice on the main front door of the residence located on the Parcel being sold. In the event the Other Owner deternines not to exercise this right of first refusal upon such terms, then the Conveying Owner may attempt to sell, convey and transfer the subject Parcel upon such teens as were offered to the Other Owner.. In the event the Conveying Owner is able to sell, convey and transfer the subject 8 Parcel upon exactly such terms as were offered to the other Owner, then the Conveying Owner may proceed with such sale, conveyance and transfer upon such terms. If the Conveying Owner proposes to sell the subject Property upon terms which differ from those offered to the Other Owner, then the Conveying Owner shall present such terms to the Other Owner, and the Other Owner shall again have ten days within which to elect to acquire the subject Property upon such revised teens; (b) The following conveyances shall be exempt from the provisions of the right of first refusal: (i) conveyances by inheritance, operation of law, and judicial order; (ii) conveyances from one or more cun-ent Owners of a Parcel to one or more current owners of either Parcel; (iii) conveyances by current Owners of either Parcel to a corporation, limited liability company, partnership, trust or other entity which is exclusively owned and controlled by the. current Owners or members of the immediately family of the current Owners; (iv) conveyances by current Owners to members of the immediate family (defined as children and siblings). (c) In the event of a sale, conveyance or transfer which is exempt from the provisions of this right of first refusal, all later sales, conveyances of transfers of the property shall be subject to this right of first refusal, subject to the exceptions set forth above. 18. Dispute Resolution. Disputes between the Owners shall be resolved in the following manner: (a) Any dispute between Owners arising under this Amended and Restated Party Wall Agreement other than a dispute relating to financial obligations to one another shall be resolved through the courts of Eagle County, Colorado, including but not restricted to immediate injunctive relief to prevent interference with the privacy, safety and security of the Owners of either Parcel. (b) Any dispute between the Owners arising under this Amended and Restated Party Wall Agreement relating to financial obligations to one another shall be resolved by arbitration, in which event the Owners shall attempt to agree upon a single 9 arbitrator. In the event the Owners cannot agree upon a single arbitrator, then the Owner(s) of each Parcel shall choose one arbitrator, and such arbitrators shall mutually choose a different arbitrator, and that third arbitrator shall hear and consider evidence and determine the resolution of the dispute. 111 the event the former arbitrators cannot choose an arbitrator for the case, then either of the parties may apply to the courts of Eagle County, Colorado, for the appointment of a single arbitrator. The parties shall each submit to the arbitrator the amount of the claim or proposed pa}nnent, and the arbitrator shall determine which amount shall be determined to be correct, without the discretion of choosing any other number. The decision of the arbitrator shall be binding upon such Owners and may be enforced in any court having jurisdiction in the State of Colorado or elsewhere, provided, however, that, if the arbitrator does not choose the amount proposed as a claim or pa}nnent by either Owner, either party may seek judicial relief from the award and seek appointment of a different arbitrator to consider the dispute and determine the resolution of the dispute according to the procedure established above. The cost of such arbitration shall paid as directed by such arbitrator(s). (c) Notwithstanding the foregoing, by the agreement of the parties, any dispute other than a dispute relating to financial obligations to one another may be resolved by arbitration, in which event the Owners shall attempt to agree upon a single arbitrator. In the event the Owners cannot agree upon a single arbitrator, then the Owner(s) of each Parcel shall choose one arbitrator, and such arbitrators shall mutually choose a different arbitrator, and that third arbitrator shall hear and consider evidence and determine the resolution of the dispute. Ili the event the fornler arbitrators cannot choose an arbitrator for the case, then either of the parties may apply to the courts of Eagle County, Colorado, for the appointment of a single arbitrator. The parties shall each submit to the arbitrator their proposed resolution of the non-financial dispute, and the arbitrator shall determine the resolution of the dispute based upon its discretion, based upon Colorado law. The decision of the arbitrator may be enforced in any court having jurisdiction in the State of Colorado or elsewhere. Tlie cost of such arbitration shall paid as directed by such arbitrator(s). 19. General Provisions. (a) Notices. Each Owner shall register his mailing address with the other Owner and all notices or demands intended to be served upon Owners shall be sent by certified mail, postage prepaid, addressed in the name of the Owner at such registered mailing address. Alternatively, notices may be delivered if in writing, personally to Owners. 10 (b) Duration. All provisions contained in this Agreement shall continue and remain in full force an effect until January 1 in the year 2027 A.D., and thereafter shall be automatically extended for successive periods often (10) years each; unless this Agreement is amended or revoked by recorded instrument signed by all Owners and all lienors holding a first mortgage or first deed of tnist of record of any portion. (c) Execution in Counterparts. This Agreement clay be executed by the parties in counterparts and, when counterpart executed signatures pages of all parties and any lienholder are attached hereto, this Agreement shall be fully effective for the benefit of and against all parties, lienholders, and their successors in interest. (d) Amendment or Revocation. This Agreement may be amended or revoked at any time upon unanimous written approval in recordable forn~ of all Owners and all lienors holding a first mortgage or first deed of trust of record on any portion of the Property. The covenants and restrictions of this Agreement shall be amended or revoked only by an instrument which. specifically refers to this Agreement and which is signed by each of the then existing Owners and first lienors. Any easement made must be properly recorded at the office of the Clerk and Recorder of the County of Eagle, State of Colorado. (f) Effect of Provisions of Agreement. Each provision of this Agreement, and any agreement, promise, covenant and undertaking to comply with each. provision of this Agreement, and any necessary exemption or reservation or grant of title, estate, right or interest to effectuate any 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 Property 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 Property by an Owner, be deemed accepted, ratified, adopted and declared as a personal covenant of such Owner and, as personal covenant, shall be binding on such Owner and his heirs, personal representatives, successors and assigns; anal shall be deemed a personal covenant to, with and for the benefit of each Owner for any portion of the Property and (iii) shall be deemed a real covenant by Owners, for themselves, their heirs, successors and assigns, and also an equitable servihrde, running, in each case, as a burden with and upon the title to each and every portion of the Property. (g) Severability. Invalidity or unenforceability of any provision of this Agreement in whole or in part shall not affect the validity or enforceability of any other provision. or any valid and enforceable part of a provision of this Agreement. which shall remain in full force and effect. (h) Captions. The captions and headings in this instrument are for convenience only and shall not be considered in construing any provisions of this Agreement. (i) Construction. When necessary for proper construction, the masculine of any word used in this Agreement shall include the feminine or neuter gender, and the singular the plural, and vice versa. (j) Gover-tiing Law. This Agreement is made and executed under, and will be governed and construed by; the laws of the State of Colorado, where the property is situated. 12 IN WITNESS WHEREOF, the undersigned have executed this instrument. Parcel A Owners Parcel A Owner Parcel A Owner State of Colorado County of Eagle SS. ,.. Parcel B Owner Parcel B Owner The foregoing was acknowledged before me this Gregory J. Moffet and Christine P. Moffet. My commission expires Witness my hand and official seal. 2008, by State of ) SS. County of ) The foregoing was acknowledged before me this Nancy A. Kazarian. My commission expires Witness my hand and official seal. 2008, by Notary Public day of day of 13 Ratification by Lender Bank of America, as the holder of a security interest in Parcel A, Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado, hereby ratifies and approves the foregoing Amended and Restated Party Wall Agreement and Declaration of Covenants, Conditions and Reservations for a Resubdivision of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado. Bank of America By:_ Title: State of ) SS. County of ~ ) The foregoing was acknowledged before ~l~e this My commission expires Wih~ess my hand and official seal. as day of , 2008, by of Bank of America. Notary Public 14 Ratification by Lender Millenium Bank, as the holder of a security interest in Parcel A, Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado, hereby ratifies and approves the foregoing Amended and Restated Party Wall Agreement and Declaration of Covenants, Conditions and Reservations for a Resubdivision of Lot 5, Block 4, Lions Ridge Subdivision, Filing No. 3, County of Eagle, State of Colorado. Millennium Bank By:_ Title: State of ) SS. County of ) The foregoing was acknowledged before me this My commission expires Witness my hand and official seal. as Notary Public day of , 2008, by of Millennium Banlc. 15 ~rtll Ol If11L,. ~ Development Review Team & Construction Update Community Development Large Conference Room Wednesday at 9:OOam May 21, 2008 AGENDA 9:00 Development Review Team Purpose: Provide coordination and input across Departments on proposed development proposals Staff Item /Topic Description Time WC 1. Planning Department Updates 10 minutes BW 2. Code Enforcement Update 5 minutes CG 3. Falkenberg (608-0079) Fire Dept. comments or approval 5 minutes CG 4. Lutsey (B08-0093) Fire Dept. comments or approval 5 minutes CG 5. Arrabelle (B08-0100) Fire Dept. comments or approval 5 minutes NP 6. Meadow Drive Streetscape - PW update ~ ~~ ~ ~~~ 10 minutes NP 7. Amend final plat -Introduction PW comments, Lionsridge Subdivision \ Filing 3, Lot 5, Block 4 10 minutes -- 5.~~-• ~a a G~~.+~2 Ss-e S - ~~. 10:30 Construction Update Purpose: Provide staff coordination on public and private construction projects 1. Update from Lionshead - LS 10 minutes 2. Update from Village 10 minutes 3. Other ROW/Utility Issues 10 minutes Other - DRB/PEC Updates 5 minutes 5 minute