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Home My WebLink AboutPRJ05-0125 ADM050003 � �i i � �CAr2 i�l(,�//c- �� 7 e y.` :�,�., I :�•�,: �' �a�� ' .,. ._� � �ti��`�F�� ADMINISTRATIVE ACTION FORM ' Department of Community Development 75 South Frontage Road Vail, CO 81657 tei: 970-479-2138 fax: 970-479-2452 web: www.vailgov.com Project Name: Manor Vail Expansion Plat Appiication Type: CondThPl ADM Number: ADM050003 Parcel: 2101-081-0200-1 Project Description: COMMON ELEMENT-CONDO PLAT REVIEW. PLAT TO Participants: OWNER MANOR VAIL CONDO. ASSOC. 04/18/2005 BARRETT, PATRICIA- FOGLEMAN, CLARENCE 3715 CAMEL GROVE COLORADO SPRINGS CO 80904 APPLICANT ROBERT S. MCCLEARY 04/18/2005 Phone: 970-476-5000 595 E. VAIL VALLEY DR. VAIL CO 81657 Project Address: 595 VAIL VALLEY DR VAIL Location: MANOR VAIL CONDOMINIUMS Legal Description: Lot: ABC Block: Subdivision: Vail Village Filing 7 Comments: See Conditions BOARD/STAFF ACTION Motion By: Action: APPROVED Second By: Vote: Date of Approval: 06/26/2006 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). Planner: Warren Campbell DRB Fee Paid: $100.00 � . , ,, `� Apr-11-06 10:63� FrarTOWN OF VAIL COU�NINITY DEYELOP4ENT YT017o2162 T-466 P.002/006 F-662 ' �. �rZ�JO.f-ot Z.� � � �o� os a�d3 ApPUCATioN FOR CONDOMINIUNUTOWNHOUSE PLAT REVIEW (I1TLE 13 Vaq MutUcipsl Cbde) (please print or type) A. APPUCANT L- � MAILING ADDRESS � � l�- y l� PHONE � — �D�D . 6. APPLICANTS REPRESENTATIVE MAILING ADDRESS � L �� PHONE " C. PROPERTY-OWNER Y L � . . � OWNER'S SIGNATURE PHONE - vo ` ' � f9/LCyD MAILING ADDRESS L D. LOCATION OF PROPOSAL: STREET ADDRESS � � �-- , � �- � LOT� BLOCK�_ SUBDIVISION � ` l � FIIING l%� �� PARCEL NO. /-7 (Co�tact Eagle Co Assessor 328-8640) E. APPLICATIb�N FEE$100 00 O Z�D l_T_ CHECK# DATE � F. MATERIALS TO BE SUBMITTED: 1. Two mylar copies and one paper copy of the subdivision plat shali be ' submitted to the Deparlment af Community Development.The plat shail include a site map with the followi�g requirements: a. The final plat shali be drawn by a registered surveyor in India ink,or other substantial solution,on a reproducible msdium(preferabiy mylar)witt►dimension of tweniy-four by thirty-sbc inches and shall be at a scale of one hundred feet to one inch or larger with margins of one a�d one-half to two inches on the left and one-half Inch on all other sides.• b. Accurate dimensions to the nearest one-hundredth of-a foot for all lines, angles and curves used to describe boundaries,streets, setbacks,alleys�easements,siructures. areas to be reserved or dedfcated for public or common uses and other imporlant features.Ap curves sha11 be circular ares and shall be defined by the ladius. _ ,,.� _.- ��_m. � ; i; f ._ .. ,..„� �s �LL;t„�. t , 1 ; �rR 1 5 2Gi;5 , . � � �.' �;:`: �.� �'"_�;��. ; 4 �� Apr-il-06 10:63as FrarTOWN OF VAiI COIA+AINITY DEVEIOPWENT 9T01TD2161 T-466 P.003/006 F-662 central angle, are scored distances and bearing.All dimension9, both linear and angular,aro to be determined by an accurate control . survey in the field which must balance and dose within a limit of one in ten thousand. c. North arrow and graph(c scale. d. A systematic iden'Uf'ication of all existi�g and proposed buildings� units, bts,blocks,and names for alt streets. e, An ide�tifica�on of the sVeets.alleys, parks,and other pubiic areas or facilities as shown on the plat, end a dedicatton thereof to the public use.An identification of the easements as ahown on the plat and a grant thereof to the public use.Areas reserved for future public acquisit�on shall also be shown on the plat. f. A written survey descriptlon of the area including the total.acreage tv ihe nearest appropriate significant figure.The acreage of each lot or parcel shall be shown in ihis manner as well. g. A description of all survey monuments.both found and set,which mark the boundaries of the subdivision,and a descriptlon of all monuments usAd in oonducting the survey. Monument per(meter per Colorado statutes.Two perimeter monuments shaN be established as major control monuments,the materials which shall be determined by the town engineer. h. A statement by the land surveyor explaining ha�v bearing base was determined. (. A certificate by the reglstered land surveyor as ou�ined ln Chapte� 17.32 of this title as to the accuracy of the survey and plat, and that the survey was performed by him in accordance with Colorado Revised Statutes 1973.Title 38,Article 51. j. A cerUficcate by an attomey admitted to prac�ce in the State of Colorado, or corporate title Insurer.that the owneKs)of record dedicating to the public the public ri�ht-of-vrdy,areas or facilities as shovm thereon are the owners thereof in fee simple,free and dear of all liens and encumbrances except as noted. k. The proper foRn tor flling of the plat with the�agle County Clerk and Recorde�. I. Certificate of dedication and vwnership.Should the ce�tiflcats of dedkafion and ownership provide for a dsdication of land or improvements to the pubAc,aN beneficlaries of deeds of trust and � mortgage holders on said real property will be required to si�n the certificate of dedication and ownership in additio�to the fee simple owner thereof. 2 . �` Apr-11-OS 10:63a� FrarTONN OF VAII COIA�IUNITY DEVELOPWENT �101TO2/52 T-156 P.004/006 F-662 m. AA curreM taxes must be paid prior to the Town's approval of phaG This includes taxe:s which have been billed but are not yet due.The cefificate of taxes paid must be signed on the plat or a statemant from the Eagis County Asssssors Office must be prvvided with the submittal information stating that aU taxes have been paid. n. Signature ot owne�. 2. The condominium or townhouse plat shaU also Indude fbor plans, elevations and cross-secttons as necessary to accurately determine lndlvidual air spaces andlor other ownerships and ff the proJect vras buiR substant(ally the same as the approved plans_ 3. A copy of the condominium documents for staff review to assure that thene are maintenance provisfons included for all commonly owned areas. G. APPROVAL PROCESS, REVIEW CRITERIA Upon receiving MPv coples of a complete submittsl along with payment of the appropriate fee,tf�e zoning administrator shaA route one copy of the site map to the town engineer for his review.The zoning administrator shall then conduct this roview concurrently.The town engineer sha0 revlew the submittal and retum comments and notitica�ons to the zoning administrator who shall transmit the approval,disapproval or approval with modificatlons of the plat within fouheen days to the applicant The zo�ing administrator sha11 sign the plat if approved o�require modifications on the plat for approval or deny approval due to inconsistencies with the orlginally approved plan or failure to make other required modifications of the plat H. �ILING AND RECORDING The zoning administrator shall be the final signature requtred on the plat so that the Department of Communiiy Development will be responsible for promptly recording the approved plat with the Eagle County Clerlc and Recorder. Fees for recording shaA be paid by the applicant.The Community Development Department will retain one mylar copy of the plat for their records and will record the remaining mylar copy. I. If this application requir�s a separate review by any local. State or Federal agency other than the Town of Vail,the application fee shall be inc�ased by$200.00. Examples of s�ch review, may include, but are not limited to:Colorado Departrnent of Highway Access Permits,Artny Corps of Engineers 404�etc. The applicant shall be responsible for paying any pubtish(ng tees which are in excess of b0°�of the appl'�cation fee. If,at the applicant's request,any matter is postponed for hearing,causinfl the matter to be re-published,then the entire fee for such�e- publication shall be paid by the epplicant. Applications deemed by the Community Development Department to have slgnffkant design, land use or other issues which may have a significant impact on the communiry may requira review by consultants other than town stafF. Should a determination be made by the town staff that an outside consultant is needed to review any application,the Community Development Department may hire an . outslde consultant, it shall sstimate the amount of money necsssary to pay him or 3 I � ; � �� Apr-11-06 10:61� FrorTOWN OF VAIL COM�IUNITY DEVEIOPbENT �T01T02461 T-165 P.005/006 f-562 her and thts amount shall be forvwarded to the Town by the applicant at the time he ft�es his appacation vvith the Community Devebpment Departmetit.Upon compietion of the review of the application by the consultant,any of the funds forvvarded by the applicant for payment of the consultant which have not been paid to the consultant sha1)be retumed to the appltc�rrt.Expenses incurred by the Tovm in excess vf the amount forwarded by the application shall be paid tA the Town by the applicant within 30 days of notification by the Town. a � ' , . . � ******************************************************************************************** TOWN OF VAIL, COLORADO Statement ******************************************************************************************** Statement Number: R050000422 Amount: $100.00 04/18/200504:29 PM Payment Method: Check Init: JS Notation: #083866/MANOR VAIL RESORT Permit No: ADM050003 Type: Administrative Parcel No: 2101-081-0200-1 Site Address: 595 VAIL VALLEY DR VAIL Location: MANOR VAIL CONDOMINIUMS 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 ----------------------------------------------------------------------------- � 898191 Page: 1 of 14 � 11/18/2004 03:33F , Teak J Simonton Eagle, CO 133 R 71.00 D 0.00 ? SECOND AMENDMENT TO THE AMENDED DECLARATION OF MANOR VAIL (A Condominium) THIS SECOND AMENDMENT TO THE AMENDED DECLARATION FOR MANOR VAIL (a Condominium) (the "Second Amendment") is made by Manor Vail Condominium Association, a Colorado nonprofit corporation (the "Association") whose address is 595 East Vail Valley Drive, Vail, Colorado 81657. RECITALS: A. The Amended Condominium Declaration for Manor Vail (A Condominium) (the "Amended Declaration"), being an amended and completed restated condominium declaration created to replace and supercede all previous condominium declarations for the Manor Vail condominium project (the "Project"), was recorded in the Eagle County, Colorado real property records on July l, 1974 in Book 235 at Page 346 under Reception No. 131285. B. The Condominium Maps for Manor Vail (A Condominium) (the "Existing Condominium Maps") recorded in the Eagle County, Colorado real property records locate, define and describe the horizontal and vertical dimensions of all existing Manor Vail condominium units (the "Existing Condominium Units") and show the locations of the existing general common elements and limited common elements for the Project. The recording information for the Existing Condominium Maps is listed and described as follows: TITLE RECORDING BOOK PAGE RECEPTION DATE NO. Ma of Manor Vail Januar 5, 1966 -- -- 102949 First Supplement to Map October 13, 1966 -- -- 104836 of Manor Vail Amendment and Second September 11, 213 390 108794 Suppl�,ment to Map of 1968 Manor Vail Map of Manor Vail November 28, 211 669 107017 North 1967 First Supplement to Map October 4, 1968 213 773 109206 of Manor Vail North Second Supplement to April 2, 1969 214 941 110431 Map of Manor Vail North Final Plat and July 5, 1991 557 362 453494 Resubdivision of Manor Vail Third Supplement to March 23, 1993 604 680 500765 Ma of Manor Vail ` 898191 ; Page: 2 of 14 ' ` 11/18/2004 03:33F Teak J Simonton Eagla, CO 133 R 71.00 D 0.00 C. The Association has made an election to be treated as a Common Interest Community subject to the provisions of the Colorado Common Interest Ownership Act, CRS Section 38-33.3-101, et seq., (the "Act") and pursuant thereto a Statement of Election was executed and filed of record on March 11, 2004 in the real property records of Eagle County, Colorado under Reception No. 870525. D. On May 17, 2004, the District Court for Eagle County, Colorado, in Case Number 04CV 185, issued an order granting approval of the First Amendment to the Amended Declaration for Manor Vail (A Condominium) (the "First Amendment") pursuant to the provisions of § 38-33.3-217(7) of the Act. The Order and the First Amendment were recorded on June 4, 2004 in the real property records of Eagle County, Colorado under Reception No. 879479. E. The Amended Declaration, as modified and amended by the instruments described in Recital Paragraphs C and D above, is referred to herein as the "Existing Declaration". F. Paragraph 18 of the Existing Declaration provides that the Association may exercise certain development rights that include the right to acquire, hold, develop, condominiumize, dedicate, encumber and convey in its own name any right, title or interest in the Project's common elements—including granting easements, leases, licenses and concessions through or over the Project's common elements—in accordance with Section 38-33.3-112 of the Act. Paragraph 18 of the Existing Declaration also provides that the common elements may be altered and the Existing Declaration may be amended or terminated upon the affirmative vote of 67% of all the voting members of the Association. G. The Association has applied for land use approvals with the Town of Vail for an expansion and development project (the "Manor Vail 2005 Project") to expand the Project and create the expansion property (defined below) that will allow for eighteen (18) new residential condominium units (the "New Units") in the airspaces located above the Project's existing lands and building improvements. The Manor Vail 2005 Project also includes a new two-level underground parking facility for 141 parking spaces (32 of which shall be separately condominiumized and sold to third parties with appurtenant storage areas and skier valet service areas and are hereinafter described as the "Parking Units"), a new fire suppression system and fire alarm system to comply with current uniform fire code requirements, new balcony railings to comply with current uniform building code requirements, a new on-site employee housing unit of approximately 600 square feet in size, and various other upgrades and improvements to existing Project lands and building improvements (collectively, the "New Common Facilities"). Contemporaneously with the recording of this Second Amendment, an amendment to the Existing Condominium Maps shall be recorded (the "Amended Map"). The Amended Map depicts those areas in which the New Units and the Parking Units are to be created pursuant to the rights and powers reserved in this Second Amendment; such areas are labeled as "Expansion Property" on the Amended Map (the 2 �� 898191 , Page: 3 of 14 ' � 11/18/2004 03:33F Teak J Simonton Eaglo, CO 133 R 71.00 D 0.00 "Expansion Property"). The locations of the Expansion Property and the approximate locations of the New Units, the Parking Units and the employee dwelling unit are depicted on the plans attached hereto and labeled as Exhibit "A". H. In August 2004 a formal written ballot (the "Ballot") to approve or reject the Manor Vail 2005 Project was submitted to the Association membership. This Ballot, among other things, specifically asked for the Association membership to vote in favor of or against the improvements described in Paragraph G above and to vote in favor of or against adopting amendments or supplements to the Existing Declaration and Existing Condominium Maps so as to allow for the creation and mapping of the Expansion Property and corresponding new development rights, easements, licenses and concessions so as to implement the Manor Vail 2005 Project. The Ballot also contemplated that the Owners and any occupants will be required to vacate Existing Condominium Units by April 1, 2005 to allow for construction activities to take place, with a targeted re-occupancy date of December 1, 2005; subject, however, to the Town of Vail's approval process and any other unanticipated delays. The Ballot resulted in the approval of the Manor Vail 2005 Project, all of the improvements and activities described in Paragraph G above, and all necessary amendments and supplements to the Existing Declaration and Existing Condominium Maps. I. The intent and purpose of this Second Amendment is to (a) define and describe the Expansion Property and new development rights in furtherance of the goals and objectives of the Manor Vail 2005 Project; (b) designate and show the approximate locations of how the Expansion Property and new development rights will result in the construction of the New Units, the Parking Units and the New Common Facilities; (c) describe the general framework for how the New Units, the Parking Units and the New Common Facilities, once constructed and upon substantial completion, will be incorporated into and become components of the Project; and, (d) amend or modify certain portions of the Existing Declaration and to add other provisions so as to aid in the sales of the New Units and the Parking Units, and to eliminate certain provisions that are or may be deemed to be unenforceable, obsolete, or constitute defects in marketable title to the New Units, the Parking Units, the New Common Facilities or the Project. NOW THEREFORE, the Association hereby declares as follows: 1. Creation and Reservation for Expansion. The Association creates and reserves the right for itself and any successor declarant selected by the Association in a writing described in Section 9 below (a "Successor Declarant") to subject all or any part of the Expansion Property to the provisions of the Existing Declaration and thereby expand the Project to include the New Units and the Parking Units and to also expand the Project's existing common elements to accommodate the inclusion of the New Facilities. Any improvements made in connection with such expansion shall be consistent with Town of Vail land use approvals and design criteria and shall be substantially completed (meaning that a temporary or permanent certificate of occupancy shall have been issued with respect to the applicable New Unit or Parking 3 � 898191 Pags: 4 of 14 � , 11/18/2004 03:33F ; � Teak J Simonton Eagla, CO 133 R 71.00 D 0.00 Unit) prior to being made subject to the Existing Declaration. The Association is hereby authorized, acting through its Board of Managers, to convey the Expansion Area, and the Association or its Successor Declarant is authorized to encumber and convert to New Units and Parking Units the interests held by the Owners in the general common elements and the limited common elements (together, the "Common Elements"), as necessary or convenient to carry out the objectives of the Manor Vail 2005 Project, subject to the requirements of the Act and other applicable law. Also, as part of the Town of Vail land use approvals for the Manor Vail 2005 Project, the Association, acting through its Board of Managers, is authorized to convey to the Town of Vail the tract of land shown and described on Exhibit "B" attached hereto. 2. Supplemental Declarations and Supplemental Maps. Subjecting the New Units, the Parking Units and the New Common Facilities to the Existing Declaration may be accomplished by the filing for record by the Association or a Successor Declarant in the Office of the Clerk and Recorder for Eagle County, Colorado of one or more Supplemental Declarations and Supplemental Maps, depicting such Expansion Property recorded concurrently with the applicable Supplemental Declaration. The Supplemental Declaration shall set forth the New Units, the Parking Units and any limited common elements appurtenant thereto, as well as the New Facilities and any real property interests, if any, to be included in the expansion, together with any covenants, conditions, restrictions and easements particular to such property. Any New Common Facilities not located within the Expansion Property will, upon substantial completion of the construction of such improvements, be deemed automatically incorporated into the Project as part of its Common Elements. The expansion, which shall permit no more than the above referenced eighteen (18) New Units and thirty-two (32) Parking Units within the Project, may be accomplished in stages by successive supplements or in one supplemental expansion: The Association or any Successor Declarant may exercise such rights for expansion on all or any portion of the Expansion Property in whatever order of development the Association or Successor Declarant, in its sole discretion, determines. 3. Expansion of Definitions. In the event of such expansion, the definitions used in the Existing Declaration shall be expanded automatically to encompass and refer to the Project subject to the Existing Declaration as so expanded. For example, "Condominium Unit" shall mean the Existing Condominium Units as shown on the Existing Condominium Maps plus any New Units added by a Supplemental Declaration or Declarations and Supplemental Map or Maps, and reference to the Existing Declaration shall mean the Existing Declaration and this Second Amendment, as supplemented. All conveyances of New Units shall be effective to transfer rights in the Project as expanded. All conveyances of Parking Units shall be effective to only convey use rights in the underground parking facility, including non-exclusive access rights for ingress and egress. 4. New Definition of Parking Unit Owners. The owners in fee simple of the Parking Units shall constitute a new class of Owners defined as "Parking Unit Owner(s)". The Parking Unit Owners will have no interest in the Common Elements of the Project and shall have no voting privileges and shall not be burdened with any 4 �� 898191 Page: 5 of 14 �� 11/18/2004 03:33F ' Teak J Simonton Eagle, CO 133 R 71.00 D 0.00 assessment obligations with respect thereto. However, the Parking Unit Owners shall be separately assessed to reflect the Parking Units 32/141 proportionate interest in the underground parking facility and its appurtenant ski storage areas and skier valet service areas, together with corresponding non-exclusive access rights, and the corresponding costs for the use, maintenance and upkeep of the same. The Parking Unit Owners will also have certain voting rights, limited to affairs related to the underground parking facility (including, without limitation, operating and capital improvement budgets related thereto) and based on one vote per parking space within the underground parking facility. The specific obligations and rights governing the underground parking facility will be documented in a Parking Facility Management Declaration, which shall be prepared by the Association reflecting these arrangements and recorded in the real property records of Eagle County, Colorado. 5. Existin� Declaration Operative on New Units, Parkin� Units and New Common Facilities. The New Units, the Parking Units and any related New Common Facilities shall be subject to all of the terms and conditions of the Existing Declaration, this Second Amendment and any Supplemental Declaration, upon the recordation of the Supplemental Map(s) depicting the Expansion Property and the Supplemental Declaration(s) of public record in the Office of the Clerk and Recorder of Eagle County, Colorado. It is contemplated that the New Units, the Parking Units and New Facilities will be committed to the Existing Declaration, but the Association shall have no immediate affirmative obligation to construct any additional New Units, Parking Units or New Common Facilities, and that the adoption and recordation of this Second Amendment is made so as to facilitate the feasibility of the design, financing and construction of the Manor Vail 2005 Project. No rights of any character of any Owner of New Units or Parking Units in the Expansion Property shall attach until a Supplemental Declaration and a Supplemental Map is filed of record annexing the New Units and Parking Units that are constructed in the Expansion Area. Upon the recording of such Supplemental Declaration and Supplemental Map, the New Units, the Parking Units and the New Common Facilities shall be deemed governed in all respects by the provisions of the Existing Declaration, this Second Amendment and the Supplemental Declaration and Supplemental Map. ; 6. Effect of Expansion. Upon the construction of the New Units, the Parking Units and the New Common Facilities and their inclusion under the Existing Declaration, this Second Amendment and the Supplemental Declaration and Supplemental Map thereof, the apportionment of common assessments for all condominium units (both Existing Condominium Units and New Units), expressed in the Existing Declaration as the "Appurtenant Undivided Interest", shall automatically be adjusted to reflect the assessment formulas described herein. In addition, Parking Units shall be separately assessed to reflect the Parking Units' 32/141 (such fraction to be modified to reflect the total number of Parking Units or the total number of parking spaces in the parking facility, if other than 32 and 141, respectively) proportionate interest in the underground parking facility, the ski storage areas and skier valet service 5 ` 898191 , Page: 6 of 14 '_ � 11/18/2004 03:33F ; Teak J Simonton Eagla, CO 133 R 71.00 D 0.00 areas associated therewith, together with appurtenant non-exclusive access rights, and the corresponding costs for the use, maintenance and upkeep of the underground parking facility. Such adjustments shall be reflected and set forth in the Supplemental Declaration. The formula used to establish the assessments for Common Expenses for New Units is as follows: The New Units will be allocated three (3) votes/assessments to New Units with airspace square footages in excess of 2,200 square feet and two (2) votes/assessments with air space square footages of 2,200 square feet or less. The calculation of the assessment formula as contained in this Second Amendment and in any Supplemental Declaration is final and binding upon all Owners irrespective of any later size measurements. Each condominium unit Owner (regardless of whether such Owner is the Owner of an Existing Condominium Unit shown on the Existing Condominium Maps, or is the Owner of a New Unit constructed in the Expansion Property) shall remain fully liable with respect to that Owner's obligation for the payment of the Common Expenses of the Association, including the expenses for the Common Expenses attributable to the New Common Facilities. 7. Termination of Exnansion and Development Rights. The rights reserved to the Association for itself, its successors and assigns for the expansion and development of the Expansion Property ("Expansion and Development Rights") shall expire fifteen (15) years from the date of recording of this Second Amendment, unless terminated earlier pursuant to the terms and provisions of the Act, or unless the Expansion and Development Rights are (i) extended as allowed by law or (ii) reinstated or extended by the Association, subject to whatever terms, conditions, and limitations the Association's Board of Managers may impose on the subsequent exercise of the Expansion and Development Rights. 8. Reservation. The Association reserves the following Special Declarant Rights (in addition to those reserved or described elsewhere herein or in the Act), which may be exercised, where applicable, anywhere within the Project: (a) To exercise any Expansion and Development Rights and Special Declarant Rights reserved or described herein, and to exercise any other rights created by any other provisions of the Existing Declaration or this Second Amendment.. (b) To complete any and all improvements as planned and contemplated by the Manor Vai12005 Project. (c) To have and use, and to permit others to have and use, easements through the Common Elements as may be reasonably necessary for construction within the Project and `' for the purpose of exercising and discharging the Association's rights and obligations under the Act and this Second Amendment. These easements expressly include the right by the Association to grant non-exclusive easements for structural support and utility service lines to the New Units and Parking Units, and to grant one or more temporary construction easements over the Common Elements for lay-down and staging areas, access by construction vehicles and personnel, temporary utility service, relocation of existing utility installations, and other 6 � 898191 . Page: 7 of 14 � . 11/18/Z004 03:33F � Teak J Simonton Eagle, CO 133 R 71.00 D 0.00 reasonable requirements for the work contemplated by the Manor Vai12005 Project. Any such easement agreements will include, as appropriate, (i) covenants by the grantee of the easement to abide by all requirements of the Town of Vail and other applicable law in utilizing the easement, and to avoid,to the extent reasonably possible, undue interference with the use and enjoyment of property burdened by the easement, (ii) an allocation of responsibility for liability and other appropriate insurance coverages to be carried by the grantee of the easement with respect to the easement property, and (iii) protections for the benefit of any lender to the grantee of the easement, as more fully described below. (d) The right to enter into an agreement binding the Association, the Owners and others holding an interest in the Project with equitable terms governing the use and enjoyment of the new underground parking facility. 5uch agreement will address, among other concerns, (i) the management of the garage operations by the persons who own interests in any part of the parking facility, whether directly through the Association, or through a third party managing agent, (ii) an equitable allocation of the expenses of maintaining, insuring, operating and repairing the common driveways, walkways, stairs and other shared-use areas of the parking facility, (ii) a method for those holding an interest in the parking facility to determine an annual budget for such expenses, (iv) reciprocal rights for access to and from the parking facility, and (v) permanent easements required for the maintenance, repair and administration of the parking facility and for utilities and other installations serving any portion of the Project. (e) The Association expects to enter into a development agreement with a Successor Declarant in order to cause the Manor Vail 2005 Project to be constructed. It is contemplated that any development agreement shall provide for a manner and method for financing some or all of the costs incurred in constructing the Manor Vail 2005 Project. Accordingly, any lender providing that financing may require the execution and delivery of(i) one or more collateral assignments or pledges of the Successor Declarant's interests arising under the development agreement and any other related easements, licenses and grants conveyed by the Association to the Successor Declarant, including, without limitation, the Special Declarant rights and Expansion and Development Rights created hereby (called, together, the "Development Documents"), (ii) one or more mortgages or deeds of trust or security agreements encumbering the interest of the Successor Declarant in the Expansion Property and Development Documents from time to time, and (iii) other documents reasonably required to secure any such loan. The Association, acting through the Board and its authorized officers, will consent to such financing documents, and to any amendments to the Development Documents reasonably required by a lender as a condition for such financing, provided that, as a result of the consents, (1) the rights of the Association to enforce the Development Documents against the Successor Declarant or any other successor in interest to the Successor Declarant will not be materially diminished and (2) the obligations of the Association under the Development Documents will not be materially increased. 7 . �' 898191 •. /1918/2004 03:33F ? Tsak J Simonton Ea91�, CO 133 R 71.00 D 0.00 Should a Successor Declarant pledge, assign or otherwise transfer any of its rights, title and interests arising under the Development Documents for the benefit of any lender, then (1) The Successor Declarant is to give the Association notice of the pledge, assignment or other transfer, including the name and address of the lender for purposes of notice. (2) The Development Documents will not be modified or canceled without the consent of the lender. (3) The lender would have the right to perform any obligations of the Successor Declarant, and that performance would prevent the Association from terminating the Development Documents. (4) If the Association should give a notice of default to the Successor Declarant under the Development Documents, the Successor Declarant will be required to give a copy of the notice to the lender. The lender will have a reasonable period to cure the default. If the lender notified the Association within that period that the lender must foreclose to cure the default, then the Association will be required to allow lender the chance to promptly pursue the foreclosure and complete the cure. (5) If any Development Document should be terminated in some insolvency proceeding involving a Successor Declarant (as a result, for example, of a decision by a bankruptcy trustee to reject any Development Document), then upon request from the lender, the Association will enter into a new Development Document with the lender or its assignee, effective immediately upon the termination of the original Development Document, on the same terms and conditions as the original Development Document. 9. Ri�hts Transferable. The Association may transfer to a Successor Declarant any Special Declarant Rights by an instrument describing the Special Declarant Rights transferred and recorded in the office of the Eag1e County, Colorado County Clerk and Recorder. Such instrument shall be executed by the Association as transferor and the Successor Declarant as the transferee. 10.Termination of Snecial Declarant Ri�hts• Special Declarant Rights shall terminate at the option of holder thereof by written notice to the Secretary of the Association, but in any event Special Declarant Rights shall terminate without further act or deed fifteen (15) years after recording of this Second Amendment, except as otherwise expressly provided herein. 11.Interference with Declarant Rights. Once transferred to a Successor Declarant neither the Association nor any Owner may take any action or adopt any rule that will interfere with or diminish any Special Declarant Rights without the prior written consent of a Successor Declarant. 8 . 898191 �� Page: 9 of 14 ii/18/2004 03:33F ' Tsak J Simonton Eagle, CO 133 R 71.00 D 0.00 12.Models, Offices and Other Facilities. The Association and any Successor Declarant or their respective duly authorized agents, representatives and employees may maintain one or more New Units owned by the Association or the Successor Declarant as one or more models or as one or more sales, leasing, business and/or management offices. The Association or any Successor Declarant may also use any part of the Common Elements (including the parking areas) and/or may locate one or more sales trailers anywhere within the Project for any of such purposes. The Association or Successor Declarant may also maintain parking areas, storage areas, construction yards and other similar facilities anywhere within the Project in connection with development, construction, sales and marketing activities. Any of the uses or facilities described herein may be located, relocated, moved or removed by the Association or the Successor Declarant at its discretion. 13.Inspection and Repair; Warrantv Work. The Association or any Successor Declarant reserves the right to perform warranty work, repairs and construction work on New Units, the Parking Units, New Common Facilities and Common Elements; to inspect, at any time and from time to time, the condition of the New Units, Parking Units, New Common Facilities and Common Elements (including, without limitation, testing, photographing and videotaping the same), and to control and have the right of access to work, repair and inspect until the expiration of all applicable warranty periods and for a period of two years thereafter, and reserves easements on, over, in, under and through the Project for such purposes (which rights and easements, notwithstanding any other provision of this Declaration, shall remain in effect for the benefit of the Association or Successor Declarant for such period of time). 14.Association's and Successor Declarant's Easements. In addition to any other easements reserved herein, the Association and any Successor Declarant reserves an easement on, over, in, under and through the Common Elements as may be reasonably necessary for the purpose of discharging the Association's or any Successor Declarant's obligations and exercising the Association's Expansion and Development Rights, whether arising under the Act or reserved herein. 15.Si�ns and Marketing. The Association or a Successor Declarant reserves the right to post signs and advertising in or on the Common Elements and in or on New Units or Parking Units owned by the Association or the Successor Declarant in order to advertise the Project and to promote sales. The association or any Successor Declarant also reserves the right to conduct general sales and marketing activities in a manner that will not unreasonably disturb the rights of owners. 16.Man. The Association or a Successor Declarant hereby reserves the right, from time to time, without obtaining the consent or approval of any owner or mortgage lender, to amend and/or supplement the Existing Condominium Maps (a) to conform the Existing Condominium Maps to the actual location of any improvement(s) constructed, installed or erected in or on the Project pursuant to the Expansion and Development Rights, (b) to conform the language and particulars used on the Existing Condominium Maps and in the Existing Condominium Declaration, (c) to correct or redefine boundary lines to conform the Existing Condominium Maps to actual boundary lines, and (d) as 9 : 898191 . Page: 10 of 14 � . 11/18/2004 03:33F �' Teak J Simonton Eagle, CO 133 R 71.00 D 0.00 otherwise necessary in connection with the exercise of any Special Declarant Rights. The Association further reserves the right to construct additional structures or improvements on the Common Elements for the use of the Owners or an Owner as planned and contemplated by the Manor Vail 2005 Project. . 17. Association or Successor Declarant's Personal Property. The Association or any Successor Declarant, as the case may be, reserves the right to retain and remove from the Project all personal property, goods, equipment and improvements used in the sale, management, construction and maintenance of the Project that have not been represented as property of any Owners or the Association, whether or not any of the same may have become fixtures. 18.Other Reserved Ri�hts. The rights reserved in this Article are in addition to all other rights reserved by or granted to the Association in this Second Amendment, the Existing Declaration or by the Act. 19.Exercise of Declarant Rights. The exercise of any or all of the Declarant Rights shall be at the sole option and discretion of the Association or any Successor Declarant. Declarant Rights may be exercised with respect to different portions of the Expansion Property or parcels of real estate at different times. No assurances are made with respect to the boundaries of any portion of the Project or the parcels of real estate that may be subject to Declarant Rights, the order in which Declarant Rights may be exercised. Notwithstanding anything in the existing Declaration or this Second Amendment to the contrary, no consent or agreement of, or notice to, the owners or any mortgagee shall be required in order to allow the Association to exercise any of its Declarant Rights, provided such exercise otherwise complies with the applicable provisions of the Act and the Existing Declaration, as amended by this Second Amendment. 20.Miscellaneous Amendments to Existing Declaration. The following provisions in the Existing Condominium are hereby amended: a.) Paragraphs 1(d)(2) and (4), relating to what is meant and included within the definition of General Common Elements, are hereby amended to read as follows: (2) The foundations, columns, girders, beams, supports, perimeter and supporting walls, roofs, roof components (including roof beams, eaves and the underside or finished surfaces of roof beams and roof eaves), sidewalks, and driveways of the buildings (4) Any installations (located both inside or outside of the measured dimensions of individual air space units) consisting of equipment and materials making up any central utility services, including, without limitation, plumbing systems, natural gas delivery systems, electrical 10 . .. I 898191 � � � 11/18/2004f03433F T�ak J Simonton Ea91s, CO 133 R 71.00 D 0.00 systems, telecommunication systems, fire suppression systems and fire alarm systems. b.) Paragraph 4, relating to the definition of limited common elements, is hereby modified to add the following sentences after the last sentence in Paragraph 4: The description or definition of limited common elements shall expressly not include any roof beams, roof overhangs or roof eaves, or the underside or finished surfaces of roof beams or roof eaves. To the extent there is any ambiguity or conflict in the Existing Declaration or the Existing Condominium Maps as to whether a common element is a general common element or a limited common element, the common element in question shall be deemed for all purposes to be a general common element. In this regard, and pursuant to Paragraph 12 of the Existing Declaration, any roof structures, central utility system installations, mechanical system installations, steel structural supports and new exterior fascia that are in place or are installed or applied in the future to Project lands or building improvements shall be deemed for all purposes to be general common elements, and shall be permitted to encroach upon any unit or units, and a valid easement for the encroachments and for the maintenance of the same, so long as such encroachments stand, shall and does exist. c.) The second paragraph in Paragraph 11, relating to lodge and hotel-type operations, is hereby deleted in its entirety, and in lieu thereof the following new paragraph shall be inserted: Unit owners may voluntarily offer their condominium units for short or long term rental occupancy; subject, however, to terms or conditions as the Board of Managers shall from time to time determine. d.) Paragraph 25, relating to rights of first refusal, shall not apply to any conveyance or transfer of the Association's interests in the Expansion Property to any third party. Any sale or transfer of any New Unit or Parking Unit constructed within the areas created by the Expansion Property and new development rights shall not be burdened by or be subject to the right of first refusal provisions of Paragraph 25. Likewise, the Owner of a New Unit or a Parking Unit shall have no right to receive notices of or be benefited by rights first refusal applicable to any conveyance or transfer of any existing Condominium Unit. e.) Paragraph 28, relating to dealing with the property upon its destruction, repair or obsolescence, is hereby amended as follows: 11 . � 898191 � • Page: 12 of 14 � 11/18/2004 03:33i Taak J Simonton Eagle, CO 133 R 71.00 D 0.00 i) The references in both paragraphs of Paragraph 28(c) relating to the Association's obligation to obtain every first lien mortgage lender's approval and consent to any plan for the sale or reconstruction of the entire premises in the event fifty percent or more of the condominium units are destroyed or damaged, is hereby eliminated. ii) The first sentence in Paragraph 28(d), relating to adopting a renewal and reconstruction plan in the event condominium units are obsolete, is hereby deleted, and in lieu thereof the following new sentences shall be inserted: The owners representing an aggregate ownership interest of sixty- seven percent (67%) or more of the general common elements may agree that the condominium units are obsolete, and adopt a plan for their renewal and reconstruction. For purposes of this paragraph, the term "obsolete" shall mean and refer to a condition whereby the condominium units are no longer in use or no longer useful, and a � renewal and reconstruction plan is deemed to be necessary in order to restore the existing condominium units in the Project to usable condition. The term "obsolete" and any requirement to adopt a plan for renewal or reconstruction of condominium units under this paragraph shall not refer to or apply to the maintenance, operation, repair and renovation of the general common elements and the ability of the Board of Managers to impose, levy and collect regular or special assessments to pay for the maintenance, operation, repair and renovation of the general common elements, as the Board of Managers is expressly authorized to do so in accordance with paragraph 19. iii)The first two sentences in Paragraph 28(e), relating to adopting a plan for the sale of the condominium units in the event they are obsolete, is herby deleted, and in lieu thereof the following new sentence shall be inserted: The owners representing an aggregate ownership interest of sixty-seven percent or more of the general common elements may agree that the condominium units are obsolete and that the same shall be sold. 21.Definitions. Unless otherwise defined herein, initially capitalized terms defined and used in the Existing Declaration shall have the same meaning when used herein. 12 . '' 898191 • Page: 13 of 14 • 11/18/2004 03:33F Taak J Simonton Eagl�, CO 133 R 71.00 D 0.00 IN WITNESS WHEREOF, the undersigned officers, on behalf of the Association, have hereunto set their hands and affixed the corporate seal as of �_, 2004. MANOR VAIL CONDOMINIUM ASSOCIATION, a Colorado non-profit corporation. � By. �Y ��-� Glenn Porzak, President � COUNTY OF ) � ) ss. STATE OF �� ) The foregoing Second Amendment was acknowledged before me this�?�day of November, 2004, by Glenn Porzak, as President of Manor Vail Condominium Association, a Colorado Nonprofit corporation. Witness my hand and official seal. �`� Notary Public SARA A. N ^^,�.,q � �`"rr��S' E° V`y�"0 My commission expires: — `�' ,�,�upf:l�ttsfrrrtr;�;. - a, � ^y�u S Q n�. i,. o -`� Z ,...,. , .`� � . , ^.��'�,.�1�' �' �. � � : U �' ► " ��J -,.! 6' ;=� ��,a S�� ,_ �� ;.� i�.1 ei r`�. : #. =� ✓"✓ " v: sn ' � . -�f•°/�r• €� .� . �i�v �•�a...��'��..'� .,'.� 7/�,,^ ��.� . � '/��'•,•ritftt�ttttitttt�`'•'. A :�., 13 �w � , ` 898191 � . Page: 14 of 14 i 11/18/2004 03:33F ;� �� L�� " Teak J Simonton Eagle CO 133 R 71.00 D 0.00 By: � ;' �' ` � � Lloyd Bishop, Secretary COUNTY OF M�l�k.�� ) ss. P��oF oa-�%R-�-la ) — � The foregoing Second Amendment was acknowledged before me this /� day of November, 2004, by Lloyd Bishop, as Secretary of Manor Vail Condominium Association, a Colorado Nonprotit corporation. Witness my hand and official seal. � ,;, ��, :;;;;f' . ` ��.�' .�°;, : ,� r�4 �"';,;�'c' J, otary Public ��J � ''' � '.;' .; �_, L� = My commiss' exp ' 'f'p��F}= r�. _ � ,� � > �:� , 3269230 7.DOC � ��i'' ..... � _ ��'. 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Manor Vail Condominium Association Amended Declarations (includes Exhibit C, an amendment to the Amended Declarations which changes paragraph 18 page 5). Pages 1 through 25 II. Manor Vail Condominium Association By-Laws Pages 1 through 11 III. Accounting Procedures Pages 1 through 7 IV. Complex Layout V. Floor Plan VI. House Rules Pages 1 through 8 All other handbooks or inserts are not valid. Please destroy. < � � � � c , � ]1l�NDED CONDOlSINIUM DECLAItATIO� !'OR l411NOR V11IL (/� Condominium) Tl1HLE OF CONTENTS Pa4� l�. RT.CITI►LS . . . . . . . . . . . . . . . . . . . . . . . . . . 1 8. PIISLIC7ITION 11ND DECLARATIati . . . . . . . . . . . . . . . . . 1 C. EXBCUTION IN COUNTERPARTS . . . . . . . . . . . . . . . . . . 1 D. AlfENDED DECLARATION . . . . . . . . . . . . . . . . . . . . . 1 1. D�fiaitiona . . . . . . . . . . . . . . . . . . . 2 2. Coadominima MaP . . . . . . . � � 3 3. Divi�ion o! Pmperty�into Condaainium Units . . . . . . . . . 3 �. L3mit�d Common Elea�nts , . . , . . , � � � � 3 S. IaNparability o! a Condaainium [hsit� . . . . . . . . . . . . 3 6. D��cription o! Condominium Unit . , 3 7. S�parate Asssasmeat and Taxation--NOtice�to Aeses�or� . . . . 1 �. Titl� . . . . . � f. G�:ural Camoa�8l�nts Not to�be Partitionsd . . . . . . � � 4 10. Os� o! G�tural and Limitad Common El�nts . . . . . . . . . { 11. Us� aad Occupancy► . . . . . . . . . . . . . . . . . 4 12. Eawmsnts for Encroachmants , 4 13. Teaniaation o! Mechanic's Li�n�Riqhts and Zndamnification . . � 1�. l�dminiatration and Manaqemsntt Manaqinq Ag�nt . . . 4 15. Res�rvation for Access--Maintenmce, Repair and Emerqeacies . 5 16. Owmers' Malntenance Responsibility o! Unit , , , , , 5 17. Cosplianc� with Pronisions of Declaration, Articles aad Bylaws o! the Aaaociation . . . . . . . . 5 19. R�troaatian or A�adm�at to Declazation� . . . . . . . . � � � S 19. l►��e�smeat !or Cac�on Expana�s . . . . . . . . . . . . . . . 5 20. insuranca . . . . . . . . 6 21. Li�n !or Nonpaymaat ot�COmmon Exp�n��s� . . . . . . . . 6 13. Owa�rs' Obligation Lor Paymsnt ot A��e�s�nents . . . . . . . . 7 23. Liability !or Camnort Exp�naa upoa Traasfer of Coadominium Unit is Joint , , . , . , , � ]4. Mortqaginq a Condominium Unit--Priozity . . . . . . . . . . . 7 2S. Right o! First Relusal by Ovn�rs . . . . . . . . . . . . . 7 26. Ex�mption trom Riqht o! Fizat Retusal . . . 0 27. Cartificate of Compliance--Riqht of First RefuHal . . . . . . 6 ]8. Association as Attorney-in-Fact . . . . . . . . . . . . . . . 9 t!. Proy�rty for Common Ua� . . . . . 11 30. R�qi.tration by Owri�r of�t�ailinq�Addr�sa . . . . . . . . . . 11 31. Period o! Condominiuw own�sihip . . . . . . . . . . 11 3I. Renrvation to Enlarqe Condaainium�Project� . . . . . . . . . 11 3�. Ge�tsal Reservation� . . . . . . . . . . . . . 12 34. General . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Exhibit A-1 . . . . . . . . . . . . . . . . . . . . . . . . 1{ E�i�it A-2 . . . . . . . . . . . . . . . . . . . . . . . . . 14 Exhibit I►-3 . . . . . . . . . . . . . . . . . • ' • • • • • • 1S Exhl�st A-� . . . . . . . . . . . . . . . . . . . . . . . ls E�dti�it 11-5 . . . . . . . . . . . . . . . . . . . . . . . . . 1S l�i�it 1►-6 . . . . . . . . . . . . . . . . . . . . . . . . li EsAibit /►-7 . . . . . . . . . . . . . . . . . • • • • • • • • 16 Exhibit A-8 . . . . . . . . . . . . . . . . . . . . . . . . . 17 ExAibit e . . . . . . . . . . . . . . . . . . . . . . . . . . 1• � . \ �� j efPai�� CONDOMINIUM DECLARAT20N FOR M11NOR V71IL (A Condowinium) A. R3:C2TALS. 11-1. Manor Vail Corp., a Colorado corporation, herainafter called 'Dsclarant;*-caus�d to b• recorded the Condomiaium Declaration fot Manor Vail ia eook 192 at Paqa 1, and th� First Suppl�ment to Condomini� p�claretioa for Manor Vail ia Hook 200 at Paga 249, and th� Secoad Suppl�asnt to Condominiwa D�claration !or Maaor Vail in Hook 213 at Paqe 296, and ths re�p�ctive maps th�r�oi filed for record in the records o! tha Clerk and Recordar ot Eaqle County, Colorado. A-2. Declarani caused to be recorded th� Condominium Deela- ration lor�anor Vail North in Book 211 at Paq� 625, and th� First Supplement to Condominiom Declaration for Manor Vail North recozd�d in Book 213 at Paq� 772, and Jlmsndm�nt th�r�to in eook 213 at Paqt 831, and S�cond Supplameat to Coridowiniwa D�claration for Manor Vail North z�corded in Book 21f at Paq� 741, and th� r�spectiw Maps thareof fil�d for zecord in the records o! tha Clark and R�cozder of Eaqle County, Colorado. 1►_3. Th� own�ra o! Manor Vail Condominiwa and Maaor Vail North Con- Qovit►ium have causad th� reapectiva condmninium propezties to be manaqed on a canmon basis. 11-�. Th� owners"of Manor Vail Condominium and tht ownere o! Manor Vail NorthZondominium deaire to merqe their reapective aasociationa and desire to anwnd th� Condominium Daclaration for Manor Vail to facilitate said merqer aad to provieY� an aqr��d Decl uation for th� coabinad Manor Vail and Manor Vail North condominium projects, which combination shall be known and referred to for all purposes as Manor Vail. )1-5. Paraqraph 18 0! tha recozdad Declaration for Manor Vail and paraqraph I�o! the recorded Declaration for t9anor Vail North states in part as follows: Thi• Daclaration ahall not be amsnded ualess th� own�rs repreaentinq aui aggregat� own�rship interest of sixty percant, or mor�, of the gateral common alements and all of ths holders o! any recorded mortqaq� or de�d of tru�t coveriag or affectinq any or all condrnniniwa uniti nnau�imously conaent and aqree to auch an amendment by inatrwnent(a) duly recordsd . . . . B. PUBLZCATION AND DECLARATION. The undersigned owners who represent an agqse- qat� owners ip intereat o sixty p�rcent or more of tha general coenmon elementn, and the underaiqned mortqaqeea beinq all of the mortgagees for the condominium units in Manor Vail and t•fanor Vail North do hereby conaent and agree to amend the rsspectiva Declarations (as supplementedl, preaervinq the original language o! the Declarant and th� Declazant's obliqationa thereunder, and am�nding those aubstantiw provisioni zequirad to effect one integrated Declaration. C. E�CUTION IN CO NTE ARTl. This Amendment may be executed in counterparis and s at� aa o � pt r 1, 1973, and is executed by the underaigned unit own�rs and mortgagees on the date• indicated in the body of the acknowledaments on the several "Consent and Aqreement to Amend�nt of Condominium Declaration for Manor Vail" for.ts attached her�to and made a part hereof by thia reference. D• Al�DtD p TI�i. Th� amrnded and restated Condominium Declaration for !lanor�a I sfi • a� follows: AMENDED CONDOMINIUM DEQ,ARATION FOR W1NOA V11IL (11 Condominium) KNOW ALL 6[EN BY THESE PRESE27TS: T91►T wNEWJ1S. lNanor Vail Corp., a Colorado corporation, hereinafttr called "D�clarant, waa tha owner oi th� zeal propezty situate in th� County -1- � ,� 1 � o! Eaql�, Stat� o! Colorado, which propesty is de�crib�d on th� attachad Exhibib 1►-1 throuqh A-B which by this referwnca az� made a part her�ofi and iiR8RE1►S, D�clazant established a coadominiwn camplex und�r th� Condo- minium Ownsrship Act o! tha Stats of Colozadot and wHERBAS, Declarant ex�cuted plans foz th� con�tructian o! buildinq�, which buildinqs and othez improv�m�ats con�ist of one hundzed Lw�atp-thrae ��p�- rately desiqnated cor.iominiwn unitsi and �~ t�iBEREAS, Gclarant has enlarged the condoa►inius complex tros tim� to tim� by con�tructinq additional improveenents consistinq of a�pazately dq iqnated condo�ninium unitst and , iiHERE113, D�clarant e�tablished a plan for th� ownership ia fe� si�le o! xsal propsrty estates conaiitinq o! th� ar�a or space contained in each of t!w air spaca unit� ia th� buildinq improv�o�nts and th� co-wrnsrihip by th� inditridual and •�parat� own�r� th�r�of, as tenants in camon, o! all o! th� r�uininq prop�rty, which property ia hereinafter detiaed and referred to as the q�neral conoaon elamantst NCN T�REFORE, Declarant published and declar�d that th� following tesms, cov�nants, conditions, eae�aienta, restrictions, ups, limitations and obliqations shall b• deemed to run with th� land, shall b� a bnrd�n and a beri�lit to Declazant, it■ succ��ors and as�iqns and any pesson acquirinq or owninq aA int�ra�t in th� raal property and improvemeats, their qrantaas, sncassors, h�ir�, ex�cutor�, administrators, devi�e�• or asaiqns. 1. Delinitions. Ths follawing definitions �hall qovern unl�ss th� context dhall expr�ss y prov d� oth�zwiss. (a) "Manor Hons�," "Manoz Studio" or "unit• urans an individual air ipao� nnit r+hich is contained within th� p�rim�ter walls, lloors, ceilinqs, winda+s and doors ot such unit in a buildinq as shown on th� Condaviniwn uyi lilad fos record, toqether with all fixtur�s and improwm�at• th�rtin contaiu�d but aot including any ot tha structural c �� such unit. �Ponent. of tha buildinq located in (b) "Condominium nnit" msans a unit toqether with tha undivided inter- est in tha qeneral and limited comnon elements appurtenaat thernto. (a) •Ovnar• means a person, lirm, corporation, paztnership, associatio� or othez leqal entity, vr any combination thereof, which owns one or more condo- mininm units. (d) "Gen�ral comnon elem�ats" means and includ�s: (1) The land on ahich the building is lxatedj (Z) The foundations, coltanna, gizdara, beams, supports, p�sim�ter and aupporting walla, roofs, sidewalks, and driveways of the buildinqr (3) The yards, gazdena and automobile parking areait (4) Any installations consiatinq of equipment and materiala making up any central utility sezvicest (S) in general, all apparatue and inatallation� existinq for co�non us�t (6) All other parts of th� property and improvernts necN- sary or convanient to its existence, maintenance and safety, or noneally in caomon us�. (e) "Limitad cortanon elements" means those camnon elem�nt� which ir� rs�erwd for the exclasive use of th� own�r(e) of a condominium unit os for fewer than all of the ownera of the individual condominium uaits as apeciiied in para- graph 4. (!) "Entiz� premises" or "prop�rty" means and includes th� lani, th� bnilding�, all impzovementa and structures thereon, all owned in fee simple ab- soluta, and all riqhts, easements and appurtenances belonqing thereto. (9) "Project' or "condominitan project" me�ni all of the land and laprow�nts initially and subs�quently sub�itted to this Declaration. (h) "Cou�non expenaei" mean• and includes: (1) Expenses o! adminiatration, operation and manaqement, �naintenance, repair or replacement of the qeneral co�non elementst (2) Exp�nses declared caamon expenee■ by proviaions of thi• Dsclaration and th� Bylawsr and .. �-3-«�•.� . .... ,,�..«�„��-.,;��.��A1�..=.�..,�,:.. � ; s- (3) All swni la`rfully aseessed againat the qeneral conuoon el�msnts by ths Board ot Managers. (i) "1lssociation" mean• a Colorado corporatioa, not ior prolit its ■nac��aori snd as�igns, tih� CartiLicat� o! incorporation and Hylaw� of which shall qovern tha adminiatration of thi• condominium property, th� memb�rs ot which shall b� all of th� owner■ o! th� condominium �nits. (j) "Hnildinq" msans one o! the buildinq improvewents comprisinq a part o! th� prop�rty. (k) 'Map" or "plans" meana and includes th� enqineerinq aurv�y o! th� lat►d locatiaq th�reon all of th� improwmsnts, the floor and el�vation plans aud any oth�r draFrinq oz diaqramoatic plan depicting a part of oz all of the imprwements. 2. Oondoainium Ma Ths Map shall not be filed !or record until th� builQinq ha• �n su stan ally completed in order to permit the location, both horizon- tally and vertically, o! th� unit(s) by a reqistared enqineer and a licens�d archit�ct. Upon substantial compl�tioa o! th� buildinq, and prior to the lirst conwyanc� of a condominium unit, Declazant ahall cause to be filad for record a Ilap, and �uch Map may be fil�d in pazts or sections, fzom tim� to tims, as th� unita haw basn sab�tantially co�l�ted. Each snch aection filed, subs�quent to t!� initially filad Map, shall be termed a Supplament to �uch Map and the n�rical s�qwnc� of tuch supplsm�nts shall b� •hown thereon. Th� Map shall d�pict aad �hw at l�ast th� lollowinqs Th� l�qal de�cziption o! tha land aad a •urwy ther�oft ths location o! th� unit aithin th� buildinq, both horiaontally and v�rticallyr the perimetar boundary of sach unit and th� location ther�in oi anp itructural component■ oz supportinq �lement� o! ths buildinqi ths thickness o! t!u common Wall(s) between units and the unit nimibere or other desiqnation. Th� !!ap shall contain th� cartificat� o! a register�d enqine�r certifyinq that th� Map sub�tantially d�picts the layout, m�asuramania and location o! th� build- m iaq, th� naits, th� uait d�siqnations, th� dimensioni of such unita, the �l�va- tion� of th� unfinished floors and ceilinqs as constructed and that the Map wa� pr�pared subs�quent to substantial complation of the improvemsnts depicted. In int�rprelinq th� Condominium Map the existing physical boundari�• o! each nnit a: constructed ahall be conclusively presumed to ba its boundaries. D�alaraat r�s�rve� th� riqht to am�nd the Map, lrow tim� to tims, to conform sam� to th� actual physical location of the constructed improvements and to any chanqes, modifications or alterations. 3. Diviaion o! Property into Condominivm Units. The real prop�rty describ�d in Exaibits A=1 tnrouyh A-9 an�f�'improwmsnts coastructed thereon are hersby diviMd into th� lollewing !�� •impl• estaLes: One hundrad tw�nty-three aeparate fee aimple estatea, aach snch estata in Buildings A, B, and C consisting of one unit togethez with an appurtenaAt undivided two-one hundr�d stwnti�ths (2/170) interest in and to the qsneral co�n elenents and in Buildinqs D, E, and F conai3tiag nf ona unit toqeth�r with an appurtenant undivided one-oae hundred seventieth (1/170) int�rest ia and to the qeneral cou�pn alements. The geaezal cotnaoa elementa shall be hald in co�oa by the ownars thareof. Each unit shall be identitiad on th� Maps by the nwnber and by the buildinq symbol (letter of the alphabet) as is shorm on Exhibit B. Each condemiaium unit is deecribed on the attnched Exhibit 8, which by this reference is ma3e a part hereof. 4. Liait�i Co�non Elements. A poztion of the common ele�n b is r�served for the •xe u ive u e o t � ownera of th� respective units, and such areas are referred to as "limited common elenNnt�." The liffited coQOaon elements so re- s�rved as� the balconies and porches. Tha balconiea and porch�s adjoininq and as�xiated with a unit, as shown on the Map, shall be used in connection with such unit to the exclusion of the us• theseof by the other own�rs of the qeneral cammon eles�nts except by invitation. 5. Inse ar bilit of a Condominium Unit. Each unit and the undivided int�rest in t � g�p ra an imate common e ��nta appurtenant thereto shall toqeth�r coapriae on� condominimm �nit which shall ba inaeparable and may be conveyed, ltased, devised or encumbered only aa a condominiam unit. 6. Dasc i on�ot Condominiian Unit. Ev�ry contract for the sal• of a condominium ueit wr t� ptio to t e s atant al oo�pletion ot th� cond�iaiu� unit and psios to tM liling for recozd of th� Map may l�qally describ� a conda�ini� unit by itt identifyinq unit number and buildinq symbol follo�red by the words "Ftanor Vail (Manor Vail North), accordinq to the Mapa thereot liled for record and the rtcorded Declaration, Amendment and Supplementa thereto." tvery deed, lease, mortgaqe, tzust d�ed, will or other instrwnent may legally d�acribe a condominium unit by its identifyinq unit nunb�r and• :�ii� sywrol follow�d by the words "Manor Vail.' Every such d�scription goo� ana srifiai�nt fos all pur�oNi to s�ii, conv�ey, tran�t�r, ancu�b�r or etlwxvis� affact not only th� onit but also th� general -3- ' � , � . eo�uon •l�m�at� and ths limited conaaon elemente appurtenant thereto, and shall n�an th� �u►it accordinq to the Mape thereo! filed for rscord and th� recorded D�elaration, Artiendm�nt and Suppl�msnt� ther�to. Each ■ueh d�scription shall b� constzwd to includ� a nonexclusive eas�m�nt !or ingr�� and eqress to th� unit and throughout th� q�n�ral common elements and for �� and �ypport thsreof toqether with the riqht to the exclusive use of the limit�d cocmon elemants. 7. S� srate )1s�esament and Taxation--NOtice to Aasessor. D.clarant shall qive wzit en not ca to e ass�ssor o t e ounty o ag e, olorado, ot th� creation o! condominium wnership o! this prop�rty, as is provid�d by law, so thet each unit aad th� undivid�d intes�it in th� qaneral common eles�nti appurt�nant ther�to shall b� deemed a pazcel and aubject to separata,asss�smant aad taxation. 8. Titl�. A condominiu�a tusit may be h�ld and owned by mor� than one p�r�� a� jo�n�tenaats or as tenants in common, or in aay real proparty tenaacy rela- tion�hip r�eognized under ths law� o! the Stata of Colorado. 9. G�ner 1 Consnon Elenrnta Not to be Partitioned. Ths qen�rel common elements shal � own� coaimon y a o a osrnera o the aniti and ehall zs�aain nndivided, and no oMmer shall brinq any actlon for partition or division of th� q�a�ral consnon sl�ents. Nothing contained herein ahall be conitrued as a limita- tioa o! th� riqht o! partition of a condominium unit bttw�en the owners thereof, but such partition ahall not aftect any other conclominiwa anit. 10. Ust o! G�neral and Limited Comr�an Elemsnta. Each owner shall b� entitlad to axc us ve own�rs p aa pa��ess on o s uait. Each own�r may yi� thw q�neral and limited cammon el�msats in accordanc� with the purpos� for ahieh th�y ar� int�ndad, without hindaring or encroaching upon the lawful rights of tha other a+n�rs. , 11. Us� and occu an�. Each unit shall b� us�d and occupied principally for r�sidin a purposes y th� own�r, bY th� awnsr's family, qu��t�, invita�s and t�nants, subjact how�v�sr to the provisiona contained in paraqraph 2S of this D�claration. T!w �ntir� Manor Vail proj�et, oz any part thsreol, may b� op�rat�d lrou tim� to tim� as a lodge oz hotel accordinq to texms or condition9 as the Board of Maaag�rs ahall from tima to time determine. � 12. Ear�meats for Encroachmsnts. I! aay portioa o! the q�n�ral connion wlements eacroa e■ upon a un t oz un ts, a valid easament for the encroachaent and for th� maint�nance of same, eo lonq as it atanda, shall and do�i exist. Zf any portion of a unit encroaches upon tha qeaeral conunon elements, or upon an ad- joiniag unit or units, a valfd easemant for tha enezoachmtnt aad for th� main- t�aaac� o! saar, ao lonq as it stands, ahall and does exist. Such encroachm�nts and eas�m�nts shall not ba coasidszad or detezmined to b� encymbrances •ithar on t!u g�a�ral comnon elements or the units. 13. Termination oi Mechanic's Lien Ri hts and Indemnification. Subs�qwnt to tM cw�p • on o t mprov�manta �scr e on t a ap, no or p�rfora�d or �at�siaL furnishad and incorporated in a unit with the cons�nt or at Lhe request oi th� uait oaner or his aqent or hia contractor or subcontractor shall be th� ba�is for filing ot a lien aqainst ths unit of any other unit awner not expressly con��nting to or requeatinq the same, or against the qeneral cortanon elemants. Each ownar shall indemnify and hold harmle�s each of the othez ownera from and against all liability ariainq from the claim o! any lien against the unit of any oth�r owner or against the general common •le�nts for conatzuction perfor'ed or tor labor, material�, s�rvic�� or other products incozporat�d in the owner's unit at auch ovnar'� z�qu�st. Th� provisions her�in contained ar� s�ject to tha.rights oi tha Man�qin� Aqent or Board of Maaaqers of the Asaociation as is sat forth in paragraph 1?. 14. Adminiatration and Mana ement; �lana in A ent. Tha administration, rental and management o t is con ominium property s a e qoverned by the Bylaws of M�nor Vail Conda�ini�m Asaociation. M owner of a condaniniwn nnit, upon ba�ominq �uch an arn�r, shall b• a me�s ot the Aseociation and shall remain a member tor tht perioa of hi• ownesship. Th• Association ahall be initially qoveznad by eoasd Nan�rs ai is prov38�A in th� Bylaws of the Association. Th• Asso- ciatioa may d�l�qat� by aritten A�rN�Ilnt any of its duties, powers and functions to any person or firm to act as Manaqinq Aqent at an aqreed compeneation. The Manaqinq Aqant for the oparation and manaqement of this condominiwa ehall perform th� op�rational, manaq�ment and rtwkal duties and functions as d�l�gated by th� 1lssoci�tioa. A portion oi th� qsn�ral co�moon �lanents way b• w�d by �ith�r tM AMOCi�tian or both the Association and tha Managing Aqent as and for oLfiap ia epm�ction with the ad�einiatzati�n and manegement. Ttt�r� shall be r�cord�d tsom tlme to time a certiticate of identfty of the persons then comprisinq the manaqenent body (Manaqers and Officers) to- gsther with identity of the Managinq Aqent, if any. Such certificate shall b• coaclu�iv� •vid�nc� th�reof in favor of any person relyinq thar�on in good faith. Th� first such certificate ahall pe recozded on or before Dec��z 1, 1966. -�- . � ` 1 � • 15. ltt��zvation !or l►ec�s�--Maintenance Re air and Ems encies. The ownar� shall aw th� rsevoc • r q t, to • ex�re se y t • Manaq nq 11q�n! or Board o! Manaqar� oi the Aa�ociatlon, to hav� acces■ to each unit from tim� to tinM durinq zeesonable hour� a� may b� naces�ery for th� maint�nanca, s+�pair or r�- plaa�w�nt o! eny o! th� gen�ral co�ori el�nti LhfLl�A or accassibl� thtrefsae, or !oz making enrr9�ncy repair■ ther�in n�c�ssary to pr�wnt damag� to the gen�ral conoon elemsnts or to another unit oz units. Dauq� to th� int�rior or any pazt oi a unit or uniti r�sultinq iro� th� maint�nanc�, repair, sar sqency repais or replacem�nt o! any o! th� q�neral coaawn elements oz as a result ot em�rqency zepairs within anoth�s unit at tha instanc� o! ths Assoclation shall b� a common txp�ns� of all o! ths wn�rst provid�d, how�ver, that it such damaqs i� th� rrsult ol,th� neqlig�noa o! a uait r�� am�r, thsn such unit own�r shall b• zespon�ible for all o! •uch damaq�, Restora- tion of tM damaged improvementt shall be ■ubstantially the same as th� condition ^ .� o! �ud► improvemants prior to th� damaq�. �� 16. O�m�rs' Maintenanc� Aesvonsibilit of Unit. For puzpos�� of maint�nance, r�p�iz, a •rat on an remo • nq, an arnes s all be de�med to own th� interior nonsupportinq walls, the mat�riala (such as but not limited to plaster, qyp�um w dry wall, panelinq, wallpapsr, paint, wall and lloor tile, and tloorinq, but not .� � including th� subLlootinq) maklnq np the linished �uzlac�s of th� perim�ter walls, � � o�ilings and floozs within th� unit and th� unit dooz� and windows. Th� own�r �hall not b• daeioad to own linea, pipes, wir�s, conduits or systems (which for � �' � br�vity az� h�z�after refszrad to as utilities) running throuqh his unit which � � ��sv� on� or mor� ottur units •xcept a� a tenant in con�aai with th� oth�s own�rs. � Such utiliti�s shall not b� diiturb�d or zslocat�d by ar� wn�r without writttn '� • i coas�nt and approval of th� Board o! Manaqsr�. Snd► riqht to r�pair, alt�r and 00 }� ; zssod�l shall cazry th� obliqation to r�plac� any Liniahing or oth�r m�t�rials '~ � ' r�wov�d with similar or other typ�� or kinds o! mat�rials. An awner shall main- � tain and k��p in r�pair th� intszior of his am unit, including eh� fixtur�s th�r�ot. 1111 fixtur�s aad� equipmsnt iastalled within the unit comm�ncinq at t � � a poinL wher� th� utilitisi enter th� usit shall b� maintained and k�pt in rapair : by th� own�r th�r�ol. An o++ner shall do no act nor any work that will impair � � ; tl�e •tructural aoundneas ar inteqrity of the buildinq or impair any easemant .,�, or hereditam�nt. � g � 17. Caso liar�o� with Provisions oi Declaration. llrticles and Hylaw� of th� 8 � ; llssoc a�-��on.Ea�ci own�r a a comp y str ct y w t a prov s ons o s Daclara- y ' on, � rticles of Incorporation aad Bylaws o! th� Assoclation, and ths de- �� ci�ioas and resolutions of ths Association adopt�d pursuant th�r�to u th� �am� , wap b� lawfully am�adsd fraa tia� to tim�. railur� to caaply with any of th� �as� ihall b• ground• !or an action to recovsr ■� dw and !or daeiag�■ or in- �� •� � ; junetiw r�lia! or both, maintainabl• by th� Manaqinq Aqent or Board of Manaqwrs in th� name ot the A�sociation on behalf of the owneza or, in a proper casa, � � by an aqqrieved wa�r. .9 1�. � � zsvok� an �ss a o • own�rs an a o �th� holdsr� o! any r�co rtqaq� � •• � or dNd o! tzuet cov�riaq or afleetinq any or all o! th� coni um units unani- �a� , � mously con��nt and aqr�� to such revocation by instrum duly zecorded. � � This D�claration shall aot b• amend�d unl�ss th� ra rapses�ntinq �n aqqseqat� � � wn�rship int�r�st oi sixty p�zc�nt, or th� qsn�zal coa�non elane nts � � and all of the holdars of any reco�r •rtqage or de�d of tzuat coverinq or � aff�cting any or all condami �n^'fnits unanimously eonsent and aqree to auch � ,$ aa�ndment by instzumen uly recordedt provided, ha,revss, that the percentaqe w � f oi the undivide rast in the genaral cmmaon elements appurtenant to each � unit, as sed in this Declaration, ahall havs a permanent character and � � � �ha be altered without th� cons�nt ot all o! the nnit owneza expressed I ...� � � . � Vst � 19. Asseaame t for Cowwn Exc�n��s. All owners shell be ablfqated to pay the 9 .� � estimate ass��9m�nts mpose y t e Boazd of Manaqers of the Association to � mset the comnon expenses. The asaessments sh.�ll be made pro rata nccordinq to Q each owner's percentage interest in and to the qenezal common elements, exoept ! !or hazard insuzanc� premivar, 1►ssess�eents foz insuzance premium� shall be based � upon that proportion ot th� total Qremiwals) that the in�uraace carried on a � � condo�inium unit b��s� to total covrrege. Tha limited co�sson elements shall i b� aaintained as gsn�ral cow�on eleeieats, and owners having exclusiw use ther�of shall not be subj�ct to any •pecial charges or assessmenta. Assessments for th� estimated common er.penses, includinq insurancg, ahall be dw month3y in advance on the first day of each mont!►. Th� Manaqinq Aq�at or poazd ot Manaqess shall prtpar� and d�liv�r or sail to th� a+ner: an it�miz�d monthly statement showinq the v�rious estimated or actual expenses for which the assasaments are made. Contribution for monthly assesaments shall be prorated if the ownerahip of a condominium unit conanenc�s on a day other than the first day of a month. The assessments mada for common expenaes shall be based upon the cash requirements deemed to be such aggregate aum as th� Board of Managers of the Aasociation shall from time to tiae determine is to be paid by all of the condo- miniwn unit owntrs, including Declarant, to pzovid� for the paym�nt of all eatisated -5- ) � F expen�es growing out of or connected with tha maintenance and operation ot th� q�neral commoa elements, which swn may include, among other thinqs, expen��s o! managearnti taxes and special asa�s�msnts, until saparately as�a��ed� prsmiimu ior fire insurance with extendad coverage and vandalism and malicloua mischief with sndorsements attached is�ued in tha emount o! tha maximua replace�ent valw o! all of the condominium units (includinq all fixturest interior walls and partitions� decorated and finiahad surfacss o! perimeter walls, floors aad ceil- iuyst doors, wfndouis and other eleaients or materials comprisinq a part o! th� uaits)t casualty and public liability snd oth�r insurance premi�ms= landscapinq and caze of groundss caamon liqhtinq and heatinqt repairs and renovationst tzash colleotionss wag�est water charqess leqal and accountinq fa�ss manaqement feest ycp�nses and liabilities incurred by the Mar►aqinq 1lqent os Board oi Manag�zs undar or by resion oi this Daclarationt for any deficit,remaiainq from a pravious ptriodt ths cz�ation of a reasonable continqency or other res�rve or surplus luad u w�ll as other coata and expanses ralatinq to the qeneral con�aon elements. ?he omission or failur� o! th� Board o! Manaq�rs to fix th� as�esswnt for any moath shall not bt dNmed a waiver, modification or a relea�e of the own�rs fraa tl�air obligation �o pay. 10. Znsurance. The Manaqing l�gent or Board of Managers ahall obtain and maintaia at al t�insurance of th� type and kind specilied in paragraph 19. The insur- anc� on the condominium buildinqs, fixtures, equipn►ant and personal property shall cover such other risks, of a sin�ilar or disaimilar natuze, as ars or shall har�- after be customarily cov�red for condominiww by rasponsible inauranc� compani�s authorized to do busin�ss in tha State o! Colorado. The insurance shall b� carri�d in blanket policy form naminq the Association the insur�d, as attorney-in-lact (!or ths condominium unit own�rs) , which policy or policie• shall ldantify the int�rest of each condominiur.� unit cwner lownar's naen�, unit namber, buildinq symbol or desiqnation, tha appurtenant undivided intarest in th� ganaral canmon •l�m�ntsf , and which policy or policias ahall provid� a staadard, nancontributory mortqaqea clause in favor of each first mortqages, aad which policy shall provid� that it cannot bs canc�lled by eithez the insursd or the insuraace aompany until alt�z ten days prior written notica ia fizst giwn to each orn�r and �ach fis�t mortqagea. The Maaaqinq Aqent or Board o! Maneqers shall, upon written requett and paym�nt o! a fee to be determined from timf to time by tha eoard of Manaqers, furnish a cwrtifiad copy of such blanket policy and th� csrtilicata idsntifyinq th� inbrest of a mortqagor. All pollci�s o! insuranc� shall provid� that the insurance thereund�r shall be invalidated or ausp�nded only with respect to tha int�rest of a particular owner who commits an acts, omission, tailure to pay pr�aiums, naqligencs, braach of wazranty or noncaapliance with any provislon o! such policy which und�z the provisions o! such policy would otherwi�� in- validate or suspend the sntira policy. The insuranca undsr any such policy, e� to tha interests of all other insured owners who do not cammit any such act or anission, shall not be invalidated or suspended and shall remain in full fores and effect. iasurance cow raqe on the furnishings and other it�m� of p�r�onal property belonqing to an a�+ner and casualty and public liability insuranc� cow r- ag� within each individual unit shall ba the responsibility o! the owner theraoi. 21. Lien for Nonpayment of Coamwn Yaceenaes. All a�ns aasesaed but unpaid for th� s6aze o�or�mon exptnses c arg� e to any condominium unit ahall.constitute a lien on such unit superior (prior) to all othez liens and encumbrances, except only for: (a) Tax and special assessment liens on the unit in favor of any asaesaing qovernmental er.tity, a.�d (b) Al1 sums unpaid on a first mortqaqa or first dead of trust of z+�cord, includinq all unpaid obliqatory su� as may be provided by .uch encum- brance. To evidence such lien for nonpayment of common expenaea the Board of - Managers or Manaqing Agent shall prepare a written notice settinq forth the amount ot such unpaid `ndebtednesa, th� naay of the owner of the condominium unit and a d��cription of the condoninium unit. 5uch a notice shall be siqned by on� oi the Boasd of Manaqers or by tha Managins Agent and may be recordad in ths o!lic� of the Cl�rk and Record�r ot Eaqle County, Colorado. Such lien for the con�on expens�� shall attach lro� th� dat• of the failure of payment of the ass��sment. Such lien may b� •nforced by foreclosur� of the defaultinq owner's condominium unit by the Association in like manner as a mortgage on real property upon the recordinq of a aotice or claim thereof. In any proceeding to collect unp�id assess�nti, tt» own�r shall be required to pay the coata and expensns oi such proca�dinqs, ttu costs and expenaes for filinq the notice or claim of lien, the costs and �xpens�s for fozeclosure proceedings, and all rearanabl� attornty fe��, wheLM s or not a suit is instituted. The owner of the unit b�inq Losecloaed shall also be r�quired to pay to the Association the monthly assessrtient fos the condc�t�iniuw unit during the period of foreclosure, and the Association shall be entitled to a receiver to collect the same. The Association shall have tha power to bid in the condominium unit at foreclo9ure oz other legal sale and to acquire and hold, leaw, mortgaq�, vote the votee apportioned to, convey and athezwise d�al with any unit it owns. -6- � � � � , Any encumbrencer holding a li�n on a condominiu�s unit nay pay, but shall not be rsquired to pay, any unpaid cowir�n expans�■ payablo with raspact to such unit, and upon •uch pay�nent •uch enemobrancsr �hall haw a li�n on such . unit Lor the amotu�ts paid of tlie eam� rank as the li�d o! his encuebrancy. Th� • ]lsaociation shall r�port to the mortgaqe� oL a condoiainiva unit any unpaid ass�s�- e�nts reeaining unpaid for lonqar than thirty days atter th� •aiae ar� dw� pro- vid�d, ha+evsr, that a mortqaqes ehall havs furniohed to the Managing Aqent or Hoard o! Manaq�r� notice o! said encumbranc�. 21. Owness' Obl1 ation for Pa nt o! As�asamenta. Th� amount o! tha con�son ��nN• assss�e aga nat eac con o n wn un s all b� the p�ssoaal and in- dividual debt of the owner theseof at the time tht 3�se�sment is mad�. Suit to r�cowr a mon�y judgment for unpaid conmon expenses ahall b• maintainabl� without toreclosing or waivinq tho li�n socurinq same. No owner may sxenQt hiau�l! from liability for his contribution twarts the cowaon exp�nses by waiwz o! th� use or enj-finent ot any ot the coemwn elem�nts or by abandonment of his �a►it. 23. Liabilit for Conmwn E nae u on Tranafer ot Condotninium Unit ia Joint. Upon payment o a rcason • ee not to excea rty o ars an upon e writt�n request of any oaner or any mortqaqe� or prosp�ctiva mortqag�• o! a coadaoinium unit, the Association, by its Manaqing Agsnt or if th�re ii no Mana- qing Aq�nt, th�n by th� financial oiticsr o! th� Assoelation, �hall isau� a vrit ba ■tetenrnt ■ettinq torth tlie amount o! the unpaid conaon expens��, 11 0 any, with resp�et to the subject unit, tha aaMUnt o! tha current monthly assess- m�nt and the date that auch a�sessment b�comea due, cradit for advanced payments or for prepaid iter.u, includinq but not limited to insuranca premiwas, which stat�m�nt shall be conclusive upon the Association in lavor of all p�rsons who s�ly thareoa in good faith. Unless such requeat for a statement ot ind�bt�dn�ss �hall be compliod with within ten days, all unpaid c�nmon expens�i ahich b�con+� dw prior to ths date of inekinq such request ahall be aubordinat� to the li�n o! the person requ.stinq such stateraent. Th� qrantee of a condorriniu� unit •hall ba jointly and severally liable Mith th� qrantor foz all unpaid asaessmsnts aqainst the latt�r for his propor- tionat� shar� oi th� coenwn expensas up to th� tim� o! the grant oz conwyanc�, without prejudice te the qrantee'e riqht to recover lrom the grantor the amounts paid by tl�e qrantee thsrefori provided, however, that upon payraent o! a reasonable f�� aot to exceed thirty dollars, and upon wzitten reqneet, any such prospsctive qrant�� shall bs entitled to a etatement frasa the Maneqinq ]►qent or Board o! Manag�rs settinq forth the amount of the unpaid as�es�msats, it any, with re�p�ct to t!� s�j�ct unit, the amount of tt�e currant monthly a�sessment, the dat� that suct! asses�rieat b�aomes due, and credita for advanc�d payments or for prepaid it�ms, ineludinq but not limited to inaur.ance premiwns, which atatement shall m b� conclusive upon tha As�ociation. Unles• such requ�at for such a statement �hall b• compliad vith within ten days o! such reque�t, then such requ�sting qsantN shall nat be liable for, nor shnll tha unit conveyed be subject to a li�n for any timpaid asaa'snents aqainst the subject unit. The provisions coa- tainad in this paraqraph shall not apply upon the initial transfer of the condo- minium units by Declarant. 2�. Mort a in a Condominiiuv tJnit--Priorit . Any ownez ahall haw tha right lrom ms to t me to mortgage or enc r • intsrest by dssd of trutt, mortqaq� or oth�r sacurity instrument. A lirst mortqsgs shall be one whiah has lirst and paramount priority undor applicsble law. Ths oaner of a condomiaium unit mar creat.� junior moztqag�s on th� followinq conditions: (1) That any such juaior mortqages shall always be subordinat� to all of ths tezma, conditions, cov�enants, r�stzictions, usea, limitationa, obliqations, lien for co�mnon expenaea, and oth�z obligationa creat�d by this A.claration, the Certificate of Incorpoza- tion and tM �ylaw� of the Aaeociationt (2) That the mortgaqae under any junior mortqage shall raleaae, for the purpose of restoration ot any ir�prover.�ents upon th� mortqaged premiaes, all of his right, title and interest in and to the proceeds under all inaurance policies upon •ai�i premises which ineurance policies were e!lected and plac�d upon th� mortgaged presiises by the Association. Such r�lease e sMall be furnisA�d Lorthvith by a junior moztqagee upon written zequest of the Managinq Aqent or tha Board o! Manaq�zs. 25. Ri ht ot First Refusal bv �nars. In the event any owner of a condomini�an unit o er t n e Dec arant or t e Association shall wish to sell, leaae, oz rent a condoainium unit and shall have received a bona fide offer therefor lraa a prosptctive purchaser, lesi�e or t�nant, the remaining unit ownezs anQ the As�ociation shall be qiven written notice thereof toqether with an execut�d or machine cepy o! such offez. Th� own�r receivinq said offer shall giv� notic� and a copy of safd offez to the Mansqinq Aqent who shall notify the owners and the 1►s�ociation of auch notice aad offe=. A unit owner and the Association ahall haw th� riqht to purchase, lease or rent the subject condoriini�an unit upon tht same terms and conditions as set forth in the offert provided that during th� trrenty-day paried irme�ifately following the mailinq of notice to the ownert by tht Manaqinq Aqent, written notico of �uch election to purchase, lease or z�nt is qiven to the Managinq Aqant and a r�atchinq clown-payment or deposit is pai� to an eicrow agent or to the �fanaqing Aqeat or to th� Asaociation. 2L the 1►nociation ex�rciaes thia riqht o! first zefusal, it shall have a riqht to pur- chas� or leas� ahich ia snpezior to that of all ownera and all other parties. i! tha Aasociation does not exercise this right of firat refusal and if more than one owner exercises thie right of first refusal, then rienty days after notice is sent by the Managing Aqent, the Manaqing Aqent shall conduct a drawinq by lot fron among all of th� owners' electiona to purchaee recoived within tha twMty-d�y p�siod. The own�r ex�rci�ing this right of first zefuaal, or tht owr �el�cle! by lot if �esa than ax� so axescis�d thi• right, �hall haw a riqht to puschu� or lea�� which is superior to that of all other parti�s. Closing shall tak� place within ten days ttiereaiter or on the date �rovided in the original olfer, whichever is lates. -7- � •• � Th� riqht ot first r�iu�al h�r�in provided shall not appiy to lea��, �ubl�a�e• or tsaanci�i havinq a tsns o! l�.s than one hundred tw�nty day�, bnt ; any such leas� or tenancy shall not be renewable nor extended except by complianca , xith th� provisions her�in. In ths event any ownes oth�s than the Declarant or tha llssociation ahall attampt to ■ell, leaa• or reat its condominium unit without aflordinq to the a+n�r• md the 1►ssociation the riqht o! lirst refusal herein provided, suah sala, l�as� or rental shall be wholly null and void and ehall conier no titl• or interest whatso�v�r upoa tk►� intsnded purchaaez, less�• or tanant aho shall b� subject to eviction and renwval, forcibly oz othe=r+ise wtth or without procea• of law. The subleasinq or subrantinq of said intezest ahall be subject to the •ams limitations as ar� applicabl� to the leasinq or rentinq thezeof. The lia- bility of th� owner und�r and by the provisions contained in thi• Declaration shall continue, notvithstandinq the fact that hn may have lea��d or rented said iat�z��t as provided her�in. in no cai� shall tha riqht of tirst rslusal rea�rved her�in ait�ct t!� riqht of an a+n�r to aubject his condaninium unit to a bona fide trust deed, moztqaq� or other security instrum�nt. Th� failuz� of or rnfusal by tha ownera to axercise th� riqht to so purchas�, lea�a or rent shall not conatitute or be deemed to be a waiver o! such riqht to purchase, lea�e or rent when an owner zecaives any subsequent bona fide off�r irom a prospective purchaser, lessee or tenant. Th� riqht oi first refusal, a� provided herain, ehall extand and run Lor the pariod ot tha lives o! John V. Amato, M. V. Numon and C. J. 1►llison, th� incorporatoz� o! Maaor Vail Condaainimn Aaaociation, and the survi wr of them, plu� tventy-ont yaars. Exc�pt as i• otheswiae provided in paraqraph 26, and except upon a transt�r of titl� to a Public Trustaa or to a first mortqaqee, each and ewry eonveyanc� by a qrantos(i) o! a aondoainiuw nnit shall b�, tor all purpo��, da�ard to includs and incorporat� in such inetnanent of conveyaace an aqr.�m�nt that the qrantee carsy out the provisions of the "right of firat zefusal" as provided in this paragraph. 26. Ex�tnption irom Riqht of Firat Refuaal. in the event o! any default on the part o any amer un er any rst mortqage which entitlas tha holder thereot to foraclos� sam�, aay sal� und�r such forsclosura, includinq d�livary of a de�d to the lirst mortqaqas in li�u o! auch foreclosure, shall ba made fre• and cl�ar of the proviaions o! paragraph 25, and tha purchasar (or qrantea uader such deed !a li�u of foreclosur�) ot such condominium unit shall b� theraupon and ther�aft�r snbject to t!� provisioAS of this Declaration and the Bylaws of the Association. I! t!u purchaser followinq such foreclosure sale (oz qrantee under deed given ia li�u of such for�closure) shall be the then holder of the lirst moztqaq�, or its nominee, th� said holder or nominea may thereaftsr sell and convey th� coadomiaitas unit fre� and cleaz of th� psoviaions of paragzaph 25, but its qrantee shall thsr�upon and therealter be aubject to all o! th� provisions hereot. Th� lollarinq tranalers ar� also exempt from the provisiona of paraqraph 2S: (a) The transfer by operation of law of a deceased joint tenant'a interest to the surviving joint tenant(s). (b) The tzanaf�r of a d�c�aaed's interest to a deviaee by will or his heirs at law under intestacy laws. (c) The transfer of all or any part of a paztnez's interest as a result o! withdrawal, death or othe nrise, to the remaininq partnsrs carryinq on th� partn�rship busin�ss and/oz to a peraon or peraons becominq partn�ri. !► transfer oi all or part ot a partn�r's or partn�rs' interests between one or more partnes9 and/or to persons b�coininq partaers. (d) The tranafer of all or any part of an owner's interest to a corpora- tiont provided, however, that at least fifty percent of the stock of auch corporation is tlrreait�z owntd and retained by that own�r. A transf�r of stock by ane or mor� shard+olders of a corporation owning a condomini�aa unitt provid�d, howev�r, that at laast fifty percent of the stock ia retained by the sharehaldezs oi th� corporation. (�) The transfer by qift. (f) Th� transfer of ownarship interests in s unit from one to anothez joint tenant, tenant in common or other tenant by common ownership recoqnized by law in the State of Colorado. 8uch pezsons, owners or qrantees acquiring an intereat shall be aubject to all of th� provisions oP paragraph 25 exc�pt as ia provided herein= provided, ha+ever, that none of the above exemptions shall be used to circumvent the riqht of first zefusal. 27. Ceitificate of Comal ance--Riqht of First Refusal. Upoa written request of any prospect v� tzana �sor, purc aser, tenant or an existinq or pmsp�ctive ■ort�ayN of any ooaiowiaiuw unit, th� Managinq ]►qent or Boud of Manaq�r� o! the Aa�ociation shall forthwith, or where tim� is cpecified, at the �nd of the -8- , • � � tiM, i��u� s wzitten and acknowledq�d certiticat� in recordabl� form, avidencinq thate (a) With rsapect to a propos�d lea�� or �al� md�r parsqraph 25, that prop�r notic� was qiven by the sellinq os leasinq owner and that the remainiag orm�rs did not •lsct to exercise th�ir option to purchaw os lsas�t (b) Nith respect to a daed to a fir�t mortqaqe• oz its n�inee in litu of foz�closure, a d��d iraa such first mortqaq�e or its nominea, pursuant to par�qraph 26, that th� dseds wtre in fact qiven in li�u of foreclosure and wsra not subject to the provisiona o! paragraph 25t (c) Hith zesptct to any contemplated transfer which is not, in fact, a �al� or lease, that the tranafer will not b• subject to the provisions of para�raph 25t Sach a c�rtificats shall b� conclusiv�s svid�nc� o! the facts contained th�s�in. T2� 1lssociation shall charg� a fN as dtt�rnin�d irom tim� to tiaw by th� Hoazd of Manag�ss to reimbuzse th� Association fos tim� and �xp•nses incurrsd vith rsspect to this right of firet zefusal and giving notica thereo! to the owners. 2t. Association as 1►ltornev-in-Fsct. This Declazation dos� hezeby maka mandatory t!N irr�voc e appointment o an attornay-in-Pact to deal with the pzoperty upon its destruction, repair or obsolascence. Titla to any condaninium unit i• declased and expr��ly mad� subject to th� t�sms and conditions hareot, and accsptanc� by any qrantea of a d�ed fram th� Dsalasant or lras any ownez shall constitute appoiatm�nt of th� attorney-in-lact hes�in provided. All o! th� owners irrevocably con�titute and appoint Manor Vail Condaminium Association, a Colorado nonprofit corporation,their tzue and lwtul attorn� in their nams, placs and stsad for th� puzpos� of dealinq with t1�i psop�rt� ti�oa 1t■ d�struction or ob�olesceace as is h�reinafter provid�d. lls attozaey-in-fact, th� �s�ociation, by its pr�sident and ��cratary, shall haw tull and complete authorization, riqht and power to mak�, exscuta and d�liver any contract, desd oz eny othez instrwoent with resp�ct to the intarest oi a condaniniwe unit own�r �rhich ar� necusazy snd appzopriat� to exerci�e g th� pw�r• herein qranted. R�pair and zecon�truction of the improvement(s) �a us�d in th� suca�dinq subparaqraphs m.aas restorinq th� iAprovem�nt(s) to snbstantially the sam� condition in which it sxisted prior to the damaqe, with each unit and tha qen�ral and limitad cormaon elementa havinq substantlally the �aM veztical and horizontal boundari�s a� b�fors. Tlu pmet�ds of any insurancs ooll�ated shall b� available to the Association for th� purpo�� o! repair, reatoration or replac�msnts unless tha owners and all first rtwrtqaqee• aqree not to rebuild in accordance with the proviaions set forth hereinafter. (a) In th� event of damags or dastruction due to fire or other disaster, t!N inturance proceed�, 1f sutfici�nt to r�coastruct th� improvrment(s), shall b� appli�d by the Association, as attorn�y-in-fact, to.�uch nconstruction, and ths impsovement(s) shall b� psomptly repairwd and r�construct�d. Th� Asixiation �dall haw full authority, riqht and pow�r, as attorney-in-laet, to cause th� r�pair ar�d rfstoration of the improvement(s). (b) If the inaurance proc�eds are insufficiant to repair and recon- stzuct the improv�m�nt(s) , and if such demaqe is not more than fifty percent o! all o! th� conio�iniim► units (the whole prop�rty)., not including land, such damaqe or dettruction shall b� promptly r�paired and reconstruct�d by the Association, as attorney-in-fact, usinq the proceeds of inaurance and the proceeds of an ai�esam�nt to be made aqainst all of the owners and their condo�inium units. Such d�ficiency as�l�n�nt sh�ll b� a common expanse and made pro rata accordinq to �ach owrNS's p�zcentaqe intes�st in the qeneral common elements and shall b� du� and paya�l• within thirty day� alter written notice thereof. Th� Association shall hava full authority, riqht and pow�r, as attorney-in-fact, to cause th� repair or re�toration o! tha improw�nts usinq all of the inaurance proce�ds Loz such purpose notwithstandinq the failure o! an owner to pay the assessment. Ths assesament provfded for hezein ahall be a debt ot each owner and a li�n on his condominiuw unit snd may b• �niorc�d and collactad as ia provid�d in Faraqraph 21. In addition thereto, the A�soelation, aa attorney-in-fact, shall have tt►� ab�olute riyht snd pw.r to s�ll tM condominium unit of any wner refuaing or fa111nq to p�such d�iicieacy �a��n�nt within the tims provid�d, and if not so paid, tM soci�tion shall eaw� to ba record�d a notica that the condomini�nn unit o! th� d�linqu�nt owner shall b� sold by th� Association, as attorney-in-fact. Th� proceeds dezived traa tha sal� of such condasninium unit shall be �sad and disbursed by the Association, as attorney-in-fact, in th� following order: (1) For payetnt of the balanc� of tha lien of any fizst toortq�q�i (2) For payment of taxes and special aaseasments liens in favor o! any a�s�ssing entityr (3) For payment of unpaid coom►on expenaest (�) !or payment of junior liena and enc�nbrances in order o! aad to th� aatsnt of t!►�ir psiorityr and -9- �! (S) The balance remaining, if eny, ahall be paid to the condominium unit ownsz. (c) If �sor� than filty percent of all of the condominium uniis (the r+bole prop�rty) , not includinq land, are destroyed or damaqed, and if ths orm�rs r�pr�ie��ting an agQreqats own�rship interest of sixty-six and two-thirds percent, os mora, of the qeneral common el�nts, do not voluntarily, within one hundrad day� thereaiter, make proviiions Lor reconstruction, which plan muat havs the unanimous approval or cons�nt of every first moztqages, the Association shall fozthwith record a notice eettlnq forth auch fact oz facts, and upon the recordinq o! �ueh notict by the Association's pr�sldent aad secretary, th� eatize remaining pruise� ehall be �old by th� Association, ae attorney-in-fact for all of th� owners, lre� and cl�ar o! tha provision• contained in this oeclaration, the Map end th� Dylaw�. Th� insusanc� s�ttlemsnt procseds ehall b� collected by the J►s�oaiation, and �uch proceads shall b� divided by ths ]►ssociation accordinq to each condominium uait orm�r's int�rest (as such interast• appear on th� policy or policies), and tuch divided proca�d� shall ba paid into ieparate accounta, each such acCOUnt reprea�ntinq on� o! the con�minium units. Each such account shall be in the nam� oi tha A��ociation, and shall b� further identifiad by th� condominium unit desiqnatioa and the name of tha owner. From each aeparate account the As wciation, as attorney-in-fact, shall forthwith usa and disburae the total amonnt (o! �ach) of such accounti, without contribution irom one account to another, ta+ard th� partial or full payneent of the lisn ot any first mortgage aqainst th� condominium unit represent.�d by �uch saparata accout�t. Thereafter, sach such account shall be supplsmsnted by the apportioned amount of the proceed• d�riv�d from th� sal• o! tha antire prop�rty. Such appoztionmant shall be based upoa each condominium unit rnm�r's percantage lat�rnet in the qaneral common elemeats. Th� total lunds of each account shall be used and disbuzsed, without contribution from one account to another, by the Association, as attorney-in-fact, for the same puzposes and in tha same order as ia provided in subparaqraph (b) (1) thzouqh (5) of this puagraph. Th� provisions containad in this subparaqraph �hall not hind�s th� prot�otion qiv�n to a fiz�t mortqaqea under a mortqaq� eadorsenent. i! th� own�r• repr�seatinq an aggreqate ownership intar��t of aixty-eix and tvro-thizds perc�nt, or more, ot the genaral coma►on elements adopt a plaa for r�con�truction, vhich plan has the unarimous approval o! all first mortqaqe�s, th�n all of !hs owneza shall be bound by the terms and other provieions of such pl�n. pny assess�nt made in conaaction with such plan ahall be a common expense and eadE pro rata accordiaq to each wrn�r's psrc�ntag� intsrei! in the qen�ral conmbn elen►ents and ahall be dua and payable as provlded by the terms of such plan, but not sooner than thirty days after written notice thereof. Tha Aasocia- tion sh�ll have full authority, riqht and powar, as attorney-in-fact, to causa th� repair or reatoration of the improvementa using all of the insurance proce�ds tor �ue!: purpos� notwithstandinq th� failuze of an ownar to pay the a�atssment. Th� a�see�ment provid�d for harain shall ba a debt of each am�r and a lian on his condominiwn unit and may be enforc�d and collected as ia provided 1n para- graph 21. In addition theseto, th� Association, a� attorney-in-lact, shall hav� tha absoluts riqht and pow.z to sell th� condominium unit o! any o�mer refusing or failing to pay such as�esamant within the time provided, and if not so p�id, t!u Association ahall cause to be racorded a notice that th� condominium unit of th� delin�u�nt or+ner shall be sold by the Association. The proceed• deriwd Lrom the sal� of ■uch condominiun unit shall be used and disbursed by th� llssocia- tion, as attorney-in-inct, for th� same purposes and in the same order ae ia providc�l in eubparagzaph (b) (1) throuqh (5) of thin pareqraph. (d) The own�ra r�pr�senting an aqqregate ownerahip interest of eiqhty- five percent, or wor�, of th� gerkral common elementa may agree that the condo- miniuw �nits are ob�ol�te and adopt a plan foz the renewal and reconstruction, which p�.an has the unanimous approval of all first mortgaqees of record at the time ot the adoptioa of auch plan. it a plan for the renewal or reconstruction is adoFT-ed, notice of auch plan M�11 be recorded, then the expenae thereof shall be payaL•le by all of the owners ae common expensesJ provided, however, that an owner not a party to such a plan foz renewal or reconstruction may qive written notice to th� Aswciation within filt�en days after the edoption o! sach plan tbaL such unit eh�ll b� puzchased by the Association for the fair mazktt value thereof. Th� 1lssociatian shall then have fiftsen days within which to eanc�l such plan. I! �uch plan is not canoellsd thM the condominium unit shall be purchased ac- cordinq to th� followinq procedur�s. If auch owner and the Association can aqree on the fair market value ther�of, then such sal• shall b� consummated withfn thirty days thereafter. If th� rarti�� ar� unatile to sgr�t, the date when eithtr party notifies the otlur tLat he or it ia �n�bl� to aqzM with the oth�r shall be the "cow�encea�nt date• fro� vhieh all p�rieid� of tiw� nwneion�d her�in shall be measured. withfn tan days icllowinq the caw�ncew�nt data, each party shall nominate in writing (and giw nocic� oi such nwination to the other party) an appraiser who shall be ; a nmber oP the Denvez Doazd of Realtors. If either party fails to make such a nomination, the appraiser nominated shall, within five days after default by the other party, appoint and a�sociat� with him anothez appraiser (to be selected fros the Denwr aoard of R�altoss). If the two appraisers deaignated by th� parti��, or select�d pursu�rnt hereto in the avant of th� deiault of one party, <««Naaw M,��e� -10- . ' ' ar� unable to aqraa, they ahall appoint another appr:.iser (to be selected lrom ' � th� Du�var Board ot Realtors) to be umpire betw�sn lhem, 1t they can aqr�� on tuoh pes�on. I! they ar� unable to aqsee upon such unpire, than each apprairsr praviow ly appoint�d shall nominate two persons (each of whaa shall b� a nNmber af th� Denver Board o! Realtora) , and from the nemes of tha four persons so noainatsd one shall be drawn by lot by any judqe of any court of record in Colo- rado, aad th� nam� so drawn shall b� •uch �napire. Th� nomination• lrom whow th� v�pir� is to b� drawn by lot shall b� submitt�d within ten days o! th� failure of th� two eppraiaers to aqre�, Which, in any ev�nt, ahall not be later than tw�aty day� followfnq th� appointment o! the secodd apprai.er. Th� decision o! th� appraiasrs as to the fair mazkat valua, or in the cas. of their disaqze�- m�nt, then such decision of the umpire, shall be Einal and bindinq, Th� experu�s and fees o! such appraisers shall be borne equally by the Aasociation and th� own�r. The �ale ahall be consummated within fiftsen days thereafttr, and th� 1►s�ociation, a• attosney-in-fact, ahall disburs� iuch proceeds as is provid�d in subparaqraph (b) (1) throuqh (5) of this pasaqraph., (e) Th� owners r�presentinq an aqqregate ownership interest of �ighty- iiw p�rcent, or mor�, oi th� qeneral commoa alamsnts may agree that the condo- minius tasits ar� obsol�ts and that th� same �hould b� sold. Such plan (aqr�emeat) must haw the unanimow approval of every first mortqage�. In suah instanc�, th� 11s�ociation shall forttn+ith record a notice settinq forth such fact or facts, and upon the recordinq of such noticw by th• Association's president and aaczr tary, the entira premises shall be sold by the Association, as attorney-in-fact for all oi the own�rs, free and clear of the provisions containad in this Declara- tion, tt►� Map and th� eylaws. The •alas proceeds shall ba apportionad between !!►� am�rs on t!r basis of �ach owner's percentaq� interest in th� gan�ral coiunon iu •laa�nts, and such apportioaed proceeds shall be paid into s�paratt accounts, �ach such account repres�ntinq one condaninium unit. Each such account shall b� in th� nan» ot th� Association, and slull ba further identitied by tha condo- niaius unit deaiqnation and th� name of th� awner. Fzom each aeparat� account th� llssoclation, as attorney-in-tact, shall us� and disburs� t!� total amount (oi aach) o! •uch accounts, without contribution from one account to another, !or the •ams purpos�a and in the eame order as ie provided in eubparaqraph (b) (1) throuqh (5) of this paraqraph. 29. Pro rt for Conmoa Us�. The Aasociation may acquire and Aoid for th� u�� and ben� t o a o t e condm!!inium ownera, real, tangible and intangible parsoaal property, ineludinq a unit, and may dispose of the eams by sala or otherwise, and th� banaficial lntsrast in any such proparty ahall ba owned by the condomini� own�r� in the same proportion as their respective intereat in the genaral coamoa slemsnts and shall not be transferable except with a tranafer of a condominiwn unit. 1� transf�r of a coadominium unit shall transfer to th� transferee awnership o! th� transtaror's b�naficial intere�t in such prop�rty without any reference tlt�reto. Each owner may use such property in accordancn with the puzpose for which it is intended, without hindering or encroachinq upon the lawful riqhts o! th� other ownsrs. Th• transfer of titla to a condominium unit under for�- clo�ure shall entitla the purchaser to the benelicial interest in such personal pzop�rty aasociatsd aith tha forsclos�d condaminiwn unit. 30. Re istration b Owner of Msilin Addreas. Each owner shall reqister hi• mailinq a ress w t e Associationt prov ed, however, that in cast• of multipls ovn�rs ot a unit, no more than two addrasies shall be registered, aaid addrease• to b� as the multipla ownar• among th�ms�lva� shall determine. Exc�pt for awnthly statements and othar routine notices, all other notices or demands in- t�nded to ba ssrved upon an owner shall ba sant by either raqistered or certified mail, postaqe prepaid, addre�sed in the nams of the owner at such reqistez�d mailinq addre�s. All notic�a, d�nands or other notices intendad to be served upon the Board of Manaqers o£ the Association shall be sent by certified mail, postage prepaid, to Manor Vail, Vail, Colorado 81657, until such address is changed by a notica of address ch�nqe duly recorded in the office of the Clerk and Recorder, Eagl• CouaLy, Colorado. 31. P�ziod o! Condo�sin' . ow z h The separate condoniniwn eatates creat�d by th s Dec arat on an t a Ma s a 1 continue until this Declaratioa is revok�d in the manner and as is provided in paragraph 1B of this Declaration or until terminated in the manner and as is provided in subparagraphs (c) or (e) of para- qraph 28 of t,.is D�claration. 32. Reservation to Enl�rq* Con$ytsinium Proiect. (�) Declu�wt �xpr�ssly z�terve� the riqht to enlarqe this condominium project by constructinq additional condominiwn buildinga and other improvemsnts on ssparate adjoininq real property whfch (condaninium units) are submitted to this condominium project, and sucn aubmiasion shall be expressed in and by a duly r�cosAed iupplra�wt to thi• D�claration and by a auppltarnt to tha Map filed for r�aosA. No such enlargemtnt shall b� made without th� prior approval of own�rs entitlN to cast at l�ast sisty ��se�nt o! th� votts in th� entire Association. Adjoininy r�al prop�rty as the tern� is us�d herein shall m�an a parcel or parcela havinq a ca�won boundary with th� z�al property deacrib�d in Exhibits A-1 throuqh 11-! exe�pt that auch parcells) may be separated from the property described in said exhibits by a roadway or street. -11- �, � � , �. (b) In torm and substanca, the supplement to this Dsclaration shall protride Lor t!u diviaion o! suah additional rsal pzop�rty and improvewents into condaninium uniti sub�taatially similar to th� lorm of th� division wad� of th� . r�al property and improvms�ata as shown in Exhibit B of thi� Declaratioa. Each uni! shall b� id�ntilisd by nwnbar, and each buildinq shall b� id�ntified by a syvbol or dssiqnation dissimilar to any other buildinq under this Dsclaration and th� Map. The undivided intere�t in and to th� limited conmwn element� a� puzt�naot to aach such unit shall not be a part o! tha genaral common �lem�at� o! tha condaninium nnits de�cribed in and initially oreated by thia Declazation and ti� Nap. Tha undivided interest in the genezal camawn elem�nts �hall have a p�rmaaent character and shall not ba altered without th� consent oi all o! th� condominium unit owners expressed in a duly rncorded Amendment to this Declarr tion. . (c) Except as is provided in paraqraphs 3 and � of this Daclaration, all of the proviiions contained in this Declaration shall be applicable to such additional condominium units. (d) Ratezencs i� made to paraqraph 28 0! thi• Declaration ralatinq to destruction and ob�olescenca. Only the owners o! the condominium units at- L�et�d (damaged, destroyad or obsolete) shall be entitled to vote upoa th• hap- p�aing or occurrence of any o! the evants contemplated imder and by the provisions s�t torth in said pasaqraph 28 and the subparaqraph� thereof, The initially con�tzuctad condaminium impzovements and th� additional condaninium improv�nts shali b� a pazt o! the whol� project, but each �uch separatsly constructed and subuitted condaminium improvemant shall be consid�red a separat� condomiaiva for t!� purpos�s oi asid paraqraph 28, and tha aqqr�qate int�ra�ts o! •ach (oi snch s�parataly constructsd condominium improvenwnts) shall be considered on� hundzed peresnt foz such voting purpose�. (�) Except as is pzovided in subparaqraph (d) of this paraqzaph, each condaninium unit own�r shall be entitl�d to vota his perc�ntag� or fractional int�rest in and to th� q�neral conanon elamants, and th� aqqraqat� of all o! the undividsd int�r��ts submitt�d to and makinq up th� total condominium project ihall b� contid�d ot�� hundr�d przo�nt for such voting purpo�u. 33. C�aaral R�s�zvatione. Dsclarant, for itself, ita successora, assiqns, and lsss�es, re�erv.a t o lowing: (a) Daclsraat has constructad on adjoining proparty a clubhouse and oth�r clubhou�e imptovements and tacilities, part o! which ar� physically attached to Huildinqs 11, B and C. Tha Map shall locat� the points, lines or areas of the physical attachmeat of the impzovamenta referred to. (b) A right of inqress and eqreas in the basement area of Huildinq H fromi and to th� adjoininq pzoperty id�ntified on the Map a� th� "Lord Gor� Clnb• for quu ts, p.rsonn�l, employets and aqsnts. Th� iub�ect spac� (lanst lew 1 o! Building B) shall ba us�d as part o! tha taciliti�s ot the clubhouse op�ration. Such us� by ths clubhouse ahall carry with it th� obligation to turaish and aiaiatain lire and axten8ed cov�raqe insurance, a canprehensivw liability in'uranca policy, both cowsinq t!►� snbject premises, and such policies shall naw as tha in�us^�d the Boar! o! Manaq�rs of the Assoeiation as attorney-in-lact for all of th� uait own�rs as w�ll as for the ewner o! ths clubhous� improvements. Th� a+ners and oparators of th� clubhousa ahall maintain th� interlor of th� apacs in th� sama manner as ia pronided in paraqraph 16 0! this Declaration u it the user of such space aere an ownes of a unit. No conanon expensas nor any r�al estats taxes and asaessments for the uss of euch space shall be assassed against tha D�clarant or ths usar of such spaca. The owners and operators ot t!N cl�house �hall bs bound by the ter�oa, conditions, payments and other pz� visions s�t forth in subparagraphs (a) throuqh (e) ot paraqraph 28 of thi• Declara- tian as it th�y w�ra ownezs of th� ba��eiu►t azeat provided, hw�ver, tha! (1) iuch awn�rs and op�rators ahall haw no voting right� thereunder, and (2) in tha event of the condominium imorovements (Duildinq Bf are not reconstructed as is provided in snbparagraph (c) of paraqraph 28, or in the event the subject property is s�ld under the pzovisions of subparaqraph (e) of paraqraph 28, th�n aued right to tb� us� of th� bai��t ar�a shall cease, end and tar�ainat� upon t!N racozdinq oi tku notica by tha Association as is provided in �ubparaqraphs (e) and (�) o! para�raph 28, and t1u am�rs and operators shall not be entitled to any pays�nt or cowpensation for th� ternination o! auch w�s (c) A riqht to us• the boiler(s), lines and other. equi pnent located in the basement araa of Buildinq B for the furnishinq of heat to the imprwemente loc�Wd on th� property idantified on the Fizst Supplement to Map of Manor Vail as "Lozd Gora Club.• (d► M eas�ment ov�z and acro�s that part of the prop�rty located betNe�n Buildinqs B and C as shown on the Map for paasaqe of persons usinq or servinq th� clubhowe faciliti��. (e) M easement over and acroes the unimpzoved portions of Lots B -12- , � , and C, Slock l, Vail Villaqa, Sev�nth !'i11nq, Eaql� Couaty, Colorado, aa shcwn on th� Map, for parkinq and for inqres• and egress to and from the clubhow� i�prov�u�nts and facilities by persons usinq auch clubhouae improvemsnts and faciliti�s. (f) The property descrlbad in 8xhibit A-3 ehall be used as and !os autawbil• parking by ths Manor Vail coadominium unit owners and their qut�ts, aad D�clarant res�rvas a non�xclusive easament on, over and across th� parkinq ar�as dsscribed in Lxhibit A-3, in camaon with the a+nsrs of tha Pianor Vail coado- ninium units. as and for parkinq and aa a maans o! inqress and eqrass from vail Vall�y Dri w to th� Lozd Gor� Club pzoparty by pezsons usinq ths said Lord Gore Club faailities, by employe�� o! Lozd Gore Clab, Inc., by the employees, officers, and dir�ctozs of ths owners o! the Lord Gore Club property aad its tenants, snec�ssors and assiqns, and r�f�r�nc� is made to the Map of Maaor Vail, the First SnpQl�msnt to Map of Manor Vsil lil�d for record, and the 1►m�ndment and Second Suppl�u�nt to Map of Manor Vail liled !or racord, which collectively lxate and u d�pict th• parkinq araas and the Lord Gora Club prop�rty. (q) Th� arsas and spaces depicted and identified on the Map as Lockar aad Shower Roor.0 ar� qeneral comnon elaments for use by all of the coadominiwa msit owners making up th� whol• oi Hanor Vail for us• thereof incident to w• o! th� n►iouninq pool facilities. Mainteaanc� o! such araas and apaces shall b� a oonawn �xpens� of all o! tha owners of condominiwn units makinq up tiu whola oi Nanor Vail. 34. Gen�ral. (a) If any ot the provisiona of this Declaration or any paraqraph, i�atencs, clause, phras• or word, or the application thereof in any circumstance b� invalidated, such invalidity shall not affect the validity o! the remainder o! this Otclaratioa, and 'the application of any such provision, paragzaph, sen- t�ac�, clause, phrase or word in any othar cizcwastancas ahall not bs affected th�r�by. (b) Th� provisions o! this Declaration shall be in addition and supplr a�ntal to th� Condominium Ownership Act of tha State of Colorado and to all other provisions of law. (c) Wh�naver used herain, unles• th� context shall otherwi�e provide, th� �inqular nwob�r shall includ� th� pluzal, the plural tha sinqular, and th� n�e ot any qender shall includ� all qendfr�. -13- � , • . , ' EXIiIBIT 11-1 TO Al�NDED C�iDOI�lINIUM DECLARATION !OR M71NOR V71IL (1► Condaminium) I► part o! Lot B, Block 1, Vail Village, Seventh Filing,'more particularly describ�d aa folla+s: Heqinninq at the Northveat corner of Lot H, Block 1, Vail Villaqe Seventh Pilinqt thance North B9•58'S4" East alonq the North lin� of sald Lot e, 256.51 f��tt th�nce South 0•O1'06" Eait 25.00 feett thenca South 0•�8'00" We�t 36.5 f�ett th�nce South 89•12'00" East 0.50 Ee•t= thence South 0•�8'00" W��t 13.5 i��tf thanca Nozth 89•12'00" Wa�t 4.5 featt thence North 0•4t'00• East 0.7 fa�tJ th�nce North 8!•12'00" West 24.3 fe�tr thence South 0°48'00• W�st 16.66 fe�tt tl�nct North 89•12'00" weat 238.23 leat to a polnt on the West line o! said Lot B� thenca on aa an91e to th� right of 90• along said Nest lin� and alonq • curv� to tha right havinq a radiva of 125 le�t, a central anql� of 5•20'S4", aa arc distanc� of 11.67 feet at a poiat oi tanqentt th�nc� along said west lin� North 6•08'S4" East 76.65 feet to the point oi beginninq. Osclazant resesws to its�lf, its successors aad assiqns a p�rp�tual eas�msnt ow r and across the Noztherly 20 feet of th� above described property !oz inqresa and sgress foz pasaage of peraons and vehicles to the follwing described real property, to wit: 11 put of Lot H, Block 1, Vail Villaq� �wuth tilinq, County of Eaqle, State of Colozado, more particularly deacribed as follows: Commaacinq at th� Northwest corner of Lot H, elxk 1, Vail Villaqw Sewnth lilinqt thencs North 89•58'S4" Eart along the Nozth lin� of said Lot H 258.51 f��t to the point of b�qinninqr thence continuing along the aloreseid cours� 9�.24 feet to the Northeast corner of said Lot Bt thence South 18•07'S�" w�st 60.60 faet� thenca South 45•48'00" Wsst 36.7 leett thsnce North 44•12'00• W�st O.S isett Lh�nca South �5•�8'00' Nest 13.3 la�tr tl�snc� South �4•12'00• Eaat �.7 l�eti thance North 45•48'00" East 1.0 featt thance South ��°12'00" East 14.0 l��tt thence South 45°48'00" West 66.00 fe�t; thancs North 89•12'00" West 2l.28 f�ett thence North �4°12'00" west 19.04 feett th�nce North 0•48'00" Ea�t 70.00 leett thence South 89•12'00' Eaat 24.3 faett thsnca South 0'�8'00' W��t 0.7 f��tt thenes South 89•12'00' Ea�t 4.5 le�tt th�nc� North 0•48'00" La�t 13.5 lNtt th�nc� North 89•12'00' Wsst 0.5 lNt� th�nc� North 0•49'00" East 36.5 fNti theace North 0•O1'06" West 25.0 feet ta th� point o! beqinninq. EXHISIT A-2 TO 11l�NDED CONDONINIUM DECLARATION FOR M71NOR VAIL (A Condominium) That pazt ot Lo! B and Lot C, Hlock 1, Vail Villaga, Seventh Filinq, Eaqle County, Colorado, deacribed as follows: B�qinning at th� North�:st corner of Lot B, Block 1. Vail Villaqe Sewnth Filinq, thanc� Soath 19•S7'03" Eait alonq t!►� Nozth�ast�rly lin� o! said Lot D 122.l4 lr�t, tl�ace seuth �0•f7'07' East alonq th� Nosth�ast�rly line of Lot C, Block 1, 171.�6 f��t, thence South 51•51'34" East alonq said Northeasterly lina 206.7! feet, thence South 7'34'S7" 1Nst alonq aaid East�sly lin� 10.00 teet to a point, on the Nozth property line of Vail Valley Drive, thence Nozth 82•25'03' west and alonq said North property line 133.00 faet, thence North 54•51'3{" west 122.6� fe�t, thence North �0•47'0�" Nest 211.66 feet, thence Nozth �5•48'00" Ea�t 10.00 f��t, th�nce North 1�•12'00" Weat 2B.7 feet, thence North 45•48'00" Easi 22.3 tNt, thence Soath 1�•12'00" iaat 0.5 foot, thencs Nortl� 4S•�Y'00" East 36.7 fe�t, thena Nozth 18•07'S�" Eaet 60.60 feet to the point of beginninq. R�l�rence is mad� to the Fir�t Supplemsnt to Map o! Manor Vail, filad or to b� tiled fos record by the Declarant, and the improvements constructed on th� prop- esty first hereinabove described as depicted on aaid Map, suclt inprovements being -11- � ' � � idantitied thereon as Buildiaga H and C. Declarant reserves to its�lf, it■ �uc- c�ssors, a�signs and le�s�we a perpetual easem�nt over and acros• that portion o! th� first herainabov� described pzopezty lyinq betwsea the properties id�nti- lied on �aid l�tap as "Lord Gora Club" and the northwe�tezly perimetas of Buildinq C, �xc�pt fos that portion th�reo! id�ntified a• Buildinq B, for aad as a con- waient m�an■ o! passaq� by p�ztoas u�inq or ��sviag th� taailiti�� locat�d on th� property identified ss thw "Lord Gore Club." Th� essenrnt ref�rred to h�r�in i� ideatified on tha F1rst Supplemsat to Map of Manor Vail. EX828IT 11-3 TO ]1MENDED CONDOMINIUM DECLAIt71T20N !'OR M711�10R Vl1IL (J1 Condominitaa) That part o! Lota H and C, Block 1, Vail Villags, Seventh Filinq, Eaqle County, Color:do, more particularly described as followse e�qinninq at the Northwest corner o! Lot e, elock 1, Vail Village, Seventh Filingt tl�nce &outh 6•08'S4• We�t 76.65 f�at alonq the Ea�! property lina vt Vail Vall�y Driv� to a point o! cuzv�r th�nc� alonq �aid East property lina and a curw to th� left having a radius of 125.00 feet, a cantral angl� of S•20'S4" and an arc length of 11.67 feet to the true point of beginningj thence North 89•12'00" thst 238.23 feet, th�nce South 0•48'00" West 52.64 feet� thence South 4!•12'00" Last 19.04 fe�t= thence South 89•12'00" East 29.28 feett thance North �5°48'00" East �6.00 fa�tt th�ac� South 40•47'03' East 211.66 teett thenca South 54•S1'34• Ea�t 122.6� fatt to a pofnt on the North prop�rty lin� o! Vail Villaq� Driv�i tiunca North 82•25'03" t�est 81.27 feet alonq said North property lina to a point of cuzvet thenc� alonq �aid llorth prog.rty line and.a curve to the right havinq a radius of 125.00 iNt, a ceatral angle of 23!03'S7'!• and an azc length of 50.34 fe�t to a point of tang�snt� thenca along said te�i�qent and said property lina North 59•21'06" we�t 90.00 feet to a point of curve: thenc� alonq said North property lin� atid a curvs to the left havinq a radius ot 175.00 fe�t, a centzal anqle o! 16•00'00• • and aa arc length ot 46.87 fe�t to a point o! taaq�at? thenes along •aid North prop�rty lin� and said tanqentt North 75•21'06• N�st 215.00 lest to a poLzt o! cnrv�t th�nce alonq said tiorth property lin� and a curve to the riqht havinq a radiu� of 125.00 feet, a central anqle of 76°09'06" and an arc lenqth of 166.14 l�et to the true point of beqinninq. EXHIBIT A-� TO AMENDED CONDOMINIUM DECLARATION FOR M7NW1! VAZL (A Condominium) The property situate in Eaqle County, Colozado, deacribed as follows, to-wits Heqinninq at th� Northeast corner of Lot B, Block 1, Vail Villaq�, Seventh FilinqJ tl�nc� South �9•58'S4" wtst, 94.24 tKt� th�nce South 0•Ol'06" East, 25.00 fe�tt thtACe South 0'48'00" west, 36.5 feet: thenCa South 89'12'00" East� 0.5 feeti thence South 0°48'00" West, 13.5 feet to tha true point of beginning; thence con- tinulnq alonq th� sam� b�arinq 9.3 f�ett th�n.� North 09•12'00" W�at, 29.• ie�tt tlanc� North 0•48'00" Ea�t 10.0 feetr thenca south 99•12'00" Last 24.� f��ts t2�nce South 0"��'00' N�et 0.7 feett thence South 89°12•00" East 1.5 lt�t to t?w tsw point of b�yinnlw�. EXHIHIT 11-5 TO 11I�NDED CONDOMINIUM DECLARJITION FOR (11 Condaninimn) That part of Lot A, Hloek 1, Vail Villaqe, Seventh Filinq, County of Eagle, Stata oi Colorado, dasaribod ar leilarss -14- , ' • Comaiencinq at th� Southeaat corner of Lot l►, Hlock 1, Vail Villaqe, seventh Filiaq, CountY o! Eagl�, Stat� o! Coloradot thenc� Northwe�terly and alonq th� East�rly boundary of said Lot A a di�tance of 53.19 l��t to th� trus point o! b�qinningt thenc� continuing alonq the aloresaid course a distance of 174.00 LKtt �eact on an anqle to tha lett of 90•00'00• a di�tanc� of 80.50 f�ett th�ncs on an anql� to ths l�tt of 70•0�'03• a distanc� o! 136.13 Laett thenc� on an angle to th� lalt of 90•00'00" a distance o! 135.00 feet to the poiny of b�qinning, hereinafter referr�d to as Pazcel one. Toqsther with al? other propesty riqhts and aa�ements cr�at�d for the beneiit o! all or+nars of condominium units in thi■ condominium pzoject. EIIRIHIT A-6 TO ]1l�IENDEO COl1DOMILiIUlt DECLARATION !OR M11NOR VAIL (A Condominium) That part of Lot A, Block l, Vail Village, Seventh Filinq, County of Eaqle, Stata of Colorado, described as lollowai Coam�acinq at th� Northeasterly corner of aaid Lot At thenca Southeaaterly alonq tM Eastezly line of sald Lot 1►, a distaac� of 105.3� feet to the Northeast cornez o! that property described as Parcel 1 in the Condominium Declaration for Manor Vail North zecordad in Hook 211, Paq� 625, record� of the Clerk and Record�r of Eagl� Couaty, Colorado (hereiaafter referrad to as Parcel 1)j thenca on m angla to th� right of 90•00'00• and alonq th� North lin� o! aaid Parcel 1, a distanc� oi 80.50 lset to th� Northwest corawr of said Parcel lt thencs on an angl� to t!►� lelt of 70•04'03" and alonq the Fiast lin� of said Parcel 1, a distance of 13.56 f��= to a poiat� thenc� on an anqle to the riqht o! 133°42'0�", a distas�ce of 12�.59 fe�t to a pointt th�nca on an anqle to the riqht of 62•15'30•, a distanc• of 97.57 feet to a point on the North line of said Lot At thence on an anqla to the right o! 90•00'00" and alonq sai8 North line, a distance of 110.00 feet to the true point ot b�qinninq. Together with ali other property rights and easements czeated for tha benelit of all ovmera o! condominium units in thia condominium project. EXAIHIT 11-7 TO 1161ENDED COt700tlINIUM DECLARATION FOR lW�OR V)1IL (A Condominium) That part of Lot A, Block l, Vail Villaqe, Seventh Filing, County of Eaqle, State ot Colorado, de�erib�d as follov�: Coaoaencinq at th� NorthMestezly corn�r of said Lot AT thence alonq the Northsrly line oi said Lot A, a distance of 1t7.79 feet to a point, aaid r>oint being th� Northwesterly ccrner of the area described in the leqal description of the First Supplement to Ffap o! Manor Vail elorth= thenca on an anqle to the right of 90•00'00' and alonq th� Naslesly lin� o! �a1� ar�a a distanca ot 87.57 fe�t to th� South- w�terly corn�s oi �aid ar�ar th�et on an anole to the rivht of 87•39'30" a di�- t�ac� of 1i1.0• !Mt to a point an tM Nest�rly lina o! said Lot A� th�nce on anglM to t�! ri91� of 76•22'Si• and alonq said westerly lin� a distance oi 97.92 fett to tht point of b�qinAin9. Toqethnr with all oth�r property riqhts and ease�nents created for the benefit of all own�r� of condaAini� units in thia condoainium project. -16- t � ' EXAIBIT A-8 TO AMEIiDED CONDOMINIUM DECLARATION !OR 1111NOR V712L (A Condominium) 11 portion of Lot 1►. Block 1, Vail Village,Seventh Filinq, County of Eagle, State o! Colosado, more particularly described as iolloxs: H�yinninq at a poiat on the westezly line ot said Lot A, aaid point beinq the North- H y ea�t corner of the Southeast one-quarter of the Northweat one-quarter o[ Section 8, Tovn�hip 5 South, Ranqe 80 Wsst oi tht Sixth Principal Meridian= thanc� Narthesly aloag the w�stsrly lin� of said Lot 1►, a distance of 175.58 feett thence oa an a�tql� to the right of 103•37'Od", a distancs of 161.00 feet; thence on an angl� to th� ziqht of 30•05'00", a distanc� of 12�.59 faetr thence on an anqle to th� siqht o! 46•17'S6", a diatance of 122.57 leets thence on an angle to tha zight of 90•00'00' and along a line parallel to and 50.00 feet Northezly from ths South line o! �aid Lot 11, a distance ot 114.98 leat= thenca on sn as�gla to the riqht of 10•40'00' a di�tanc� oi 3Y.12 fa�t to a point on th� Westazly lina o! said Lot �J th�nc� oa an anql� to the riqht oi 79•YO'00" and alonq eaid FJestarly line, a distance of 65.04 i��t to ti� tzu� point of bsqinning. -17- , ' . L�XAIBIT B TO ]MtEIaDED CONDOMZNIUM DECIJ1IiATION TOR M�11�lOR V11IL (1► Condomiaiwn) Osiqinal l►lso R�cosdad lca� 1►s 1►ppurteaant Undlvidad �it Iatar�st (lsaction or py�= Nmibtred Building P�rctntaqe) 1 100-101-102 ]► 11+o-On� hundred seventieths 2 200-201-102 11 1�ro-On� hundred �evantieths 3 103-10�-105 A 11ro-One hundred s�vanti�th� { 203-204-205 1► 11+o-One hundred s�v�ntieths 5 106-107-108 � Two-On� hundrad seveatieth� 6 ZOh107-208 11 iti+o-On� hundz�d s�wnti�ths � 109-110-111 1► TMO-On� huadz�d �ev�nti�th• e 209-210-211 7► 11�o-Ona huadzed ieventieths 9 111-113-114 l► Tw-On� hmrdr�d s�wntieth� 10 212-213-214 7► Two-On� hundred •awntlstlu 11 115-116-117 A Tvo-On� hvadr�d ssv�ntiaths 13 315-116-I17 7► TNO-On� hnndrsd ��wintisths l; 11�-119-120 1► - TMO-On� h�dr�� s�v�ttti�th� 14 Ilt-219-220 A 11ro-One hundr�d sevrntieths 1S 121-132-123 A Two-On� hundr�d ��v�ntiaths 1i ZZ1_Y24_223 ]� T++o-One hundrad s�ventiethi 1� 124-125-126 H Two-One h�►dred ssventieths 1• 214-225-226 H Two-On� hundred saventietb� 19 127-129-129 H Two-One hundred sevsntieths 2p 227-228-229 B Tvro-One hundred seventieths 101 130-131-132 C Two-On� hundr�d •�wntiaths 102 133-134-135 C Two-One hundred aeventieths 103 136-137-138 C Trro-One hundred aeventieths 10� 139-1�0-141 C Two-One hundred sewntieths lOS 112-1�3-1�4 C 11ro-On� hundr�d e�wntisths 106 1�5-146-1�7 C 1wo-On� hundsed s�wati�ttu 107 149-1�9-150 C Tro-One hundred sev�ntietfu 30� lsl-1S1-1S3 C 11w-On� hnadred ��venti�thi 10! 19�-155-136 C Two-On� hundr�d •�wnti�ths 2�1 230-231-232 C 11ro-On� himdr�d sewati�thi 3�2 233-23�-235 C 11+o-Ons hundr�d seventi�ths �03 236-137-13• C Two-One hundrtd eeventietha =0� 239-140-241 C 11+�o-On� hundr�d s�v�nti�ths 20S 242-243-241 C T�+o-One hundr�d ssventieth� 206 2�5-246-247 C Two-Ons hundred seventietha Zp� 2�9-2�9-250 C T�+o-One hundred seventieths 20t 251-252-253 C T+o-One hundr�d �ewntiaths =p� 2S�-2S5-356 C Two-One hnndred s�ventieth� 301 330-331-337 C Tro-On� hnndsed seventisths 311 333-33�-»! C 11ro-Ona hundzed a�ventietha �03 336-337-3�! C 11w-On� hundred aeventietha 30� 339-340-341 C 7MO-One hundred aeventie•.hs �ps 342-313-3�4 C zti+o-Ona hundrad seventi�ths 9N 31�-3�6-3i7 C Two-On� hundrad seventi�th• �� 34�-3�9-350 C 11+o-On� hundred saventi�lh� 30t 3l1-�l1-�f9 C 11ro-On� h�ndr�d �eventieth� �Of 3S1-3SS-3S6 C �o-One hundrad sevanti�th• 110 160 D On�-On� hundred sewntiath 111 161 D OM-Ona hundred s�venti�th lI2 li2 D On�-Ons hundred s�ventitth lI3 163 D On�-One h�mdr�d seventi�th ll� 164 D On�-On� hut�dred sewnti�th 115 16S D 0�-On� hundr�d s�wntisth lli 16i D OnrOn� handred a�ventieth 117 167 D One-One hundred seventi�th 210 260 D On�-One hundred seventieth 211 2�1 D Orn-On� hanSrad seventieth 's 212 ZE= p On�-On� hondzed sewnti�th 213 263 D Ont-Ons hundred sewntiath -ie- � � � • Osiqlaal u�� aant Undivid�d �� s Ia�s t (lractioA or N�= py�p�rwd euildinq P�rc�ntaq�) 114 26� D OnrOn� hundred sswntistb 216 16S D On�-on� huradrad s�v�tisth 21f 26f D On�-On� hundr�d ��vrnti�th 117 1i7 D Onran� hundr�d •�wati�th �10 360 D On�-On� hundzed ��wnti�th �11 361 D On�-On� hundssd s�ventisth 311 361 D On�-On� h�dr�d s�watieth � 31� 363 D On�-aa� hundr�d s�wati�th 31� 3i� D On�-On� hundr�d s�wntl�th 31f 3iS D On�-On� hundz.d s�wati�th 316 36i D ��-On� huadrsd s�ventieth 31T 367 D OnrOne huadred sev�ntieth 1=0 170 E Oa�-On� hundz�d a�wati�th 121 171 E OarOsu huadr�d s�watieth 132 172 E OorOn� huadrsd s�wnti�th 12j 177 E OnrOn� huadr�d ��wnti�tb 124 174 E OnrOn� hundrsd Nwati�th 1�S 17S 8 OnrOn� huadr�d s�watiat2� 1=� 176 E On�-On� huAdr�d s�wati�th 11'1 ° 17�- ' E OnrOn� hunds�d s�wati�th 210 ]70 E Oa�-on� hundr�d s�ventieth ,,,,�,,: 1�1 271 E Otu-On� hundr�d ��wntisth 21� ��Z E OarOn� hundrsd s�wntieth 1» 173 s On�-On� hundred s�wnti�th Z]� 27� E �n�-Oue hundr�d ��wati�th 33b 27S s On�-On� hundr�d ��wati�th Z�` y�6 3 On�-On� hundred s�v�ati�th 227 277 8 On�-On� hundrtd s�vantieth 320 370 B OnrOn� hundred ��watiath 321 371 B On�-On� hundred s�wntisth 312 371 E On�-On� hundr�d s�watieth 3]j 373 E On�-On� hundrsd s�wntiath 3]4 37� E OnrOn� hupdred s�wnti�th 32S 37S E Oa�-On� hundr�d t�wati�th 326 376 8 On�-On� hundr�d s�wati�th 3�� g�� g On�-On� huadr�8 s�wnti�th 131 061 ! On�-On� hundr�d s�woti�th 1�3 0�9 r On�-On� hundsb Nwati�th 135 095 ! On�-On� hund:�d s�veati�th 137 OY7 r On�-Ona hundr�d s�wntieth 230 180 ! On�-One hundred ■�v�ati�th 231 191 ! Oa�-On• hundr�d s�wntieth 232 lt7 ! On�-OU� hw�dt�d ■w�wti�th 2» 1�3 P On�-On� hundr�d s�wAti�th _�� 1�� F On�-On� hundsed sewntitth �'3 1�S T On�-Oo� bnnAr�d ��vltsti�tA =3� l�i ! ��-On� hunds�d s�wnti�th 2�7 167 ! On�-On� hundzed sewnti�th 330 2�0 ! On�-On� hundzed s�v�ati�th �3Y 2/1 r On�-Ow� hu�/r�d s�wnti�th 3u =�= s On�-Ow� huadred stwnti�tb »> _�� r OeirOn� hwds�d s�wnei�tA 3� �� t On�-Ow� haadsed Nwnti�th jK I�S i pn�-pr►� h�mdr�d s�wntiath 33f 2�6 � Oa�-O� huads�d s�wnti�th j3� ZO� r OnrOn� hundrsd s�wntieth �30 3t0 r OnrOnt hundsed s�wntieth �31� 3il r OnrOn� h�mdsed s�v�nti�th �� 3�= r On�-Ow� huedr�d s�wnti�th �;� ;�3 ! On�-an� huadred a�v�ntieth �g� ;�� p On�-On� hundrad seveatiatb /3S 3iS i OnrOn� hundred s�wnti�th �36 3�i P OnrOn� hundred s�veAtieth �37 3t7 ! On�-an� hundzed �ewati�th -19- a ; . ctRTiTSC:.:� 0:' 7tnot''riO:J OP lJ1EIVDED COyD0.`1I9iV!: �FCL:..R1�TT0:7 FOR Ml,NOR VAZL lA Co�dominiwal Pursvant to the l�rticles of M�raer betveen Hanor Vcil Cosdominivra Assoeiation, s ColozRdo no�-profit cer�ossssaa. aad !lat�or Vail �ost:� Co:s�aainiva assoeistion. a Colorado noa-psoLit cozporation, r::�ieh Aztseles �eze auopted by ths sespeetive Assoc- istions o� Septenocs 2, 1977. s ca�• ot r:hieh 1►rtie2�a :s attacried heseto, t!se Assoeiatioas have adop:ed the actaehed Ameaded Coado- misau� Dcelaration !cr !laaor vail (:+ Condoauni�l. Tht Fl+ended Caesdaainiun Ocelasatioa supersedes snd seplaces th� Coadorninium Dec�sration foz llanos �'ail, recosded ia eooM, 192 at paee l, aad . supplsn�ntad in 800k 200, pago 2�9, and Aook 213. �ago 2°6, and it superiedas and ie�laees tl:e Condoniniva� Oeelaratica :oz ttanor Vail t�ost:�, reeosced ia Book 211 at paee 625, and su»leG+ented in Book 213, paq� 772. Book 21], paa� 831, tnd eook 214, page 7�1, all as reeorded in t�c zecozds of the Clerk and Recozd�r, Eaq�c County� Colorado. Tha attaehed 1►mended Dcelazation for l:aaoz ��ail lA Co�do- :aiaival was propsrly adopted by �tanoz Vail Co�dostiniur.� Assoeiatiea and Manos vail Kost� Cor.dosiniu..� Association auzsuant to :he terr..s and pzovisions ot tha res�eet:ve Coadoraini� Declsratios:s, a�d is thes�fore e:faec�ve aceordia� to ics cer...s. ^�se aposo�ziate eonseats to tha Pl+ended Deelazstion bp condontiniun vni: owness (wneza o! t"e aenasal coGnon clements! and holders o: raortesaea or deeds of trust alfectinq eondo:aiaium usuLS ara attaeled here- to, followinq che Ar.+ended Condominium Declasatiors. '�e��•••••••. DEliVrA l95T3tJ1CT C.!] COl�11`1Y ;��'.•=-••��"� a corporation doinq 3asiness as .,�•�, s�r• .t.�.� •. •.�•. USLZFF: TITL� INSURJN�CE CO�.YAY.Y _,:Sr.1T�:�= .�: .... . :,; sY �� ,� :�'`c��'�f�°�s� ,t;✓I� , , ��$T^.;.,,,CI"��COLOttADO � ) ss. CZTY A�D COV.i'i7 OF DLNVER ) Subsezibcd and swozn ,to befoz� n+s tha /C� uay oE �U.•�+- . 1l74, by �'.,.. .� �.�.:.:.. :.-• as .• ;;,� •�,_,,...� of t^c �r_nver Aascsac: C�.?any, a �j:..- cozporatloti uoing cssinsss as USL2FE ;itle Insurance��onpany. • i WITI:ESS my hand and official saal. ,` ,,'�� +, � ) '�, •, �, / � , f ', '� My Com.Tission expiscs: �• s !/7� � ' / , �� • ..,...J�.��. � . �r � ' ,'� ;. � � ' : � . ....... r•• / ,,, . ,� :.��, �,1iY•.�= �Ll._;r�- .HV�-•� _ l �� re; .tip . • Naury Puo lc ,....• ' :`� ��,,.� '�:. ��r. �.��' `� �.�l,�� C`o:•; * �C�Of � ' �'M��Md��",•' ' w • �f . �_ ^'b J �' �~ / ' ^. � r + ^ � r� !: �� ,Cb `�' 1 .^ � �� C� � . `- -M t-• � . ��i; . J ' �.i � \ � l� �� 1� �1 � V N �' .. � C� J � � _''.; ��`J ��t � � •: < <. � _.F�^t �^., .•. ': � �. � `wl�, ti„ v �� ,j `� �4 � 1.\" � G �� '.� �'� y � 1J � v ` � N'�NM l � °° . � _ �. ;�� U ,� � �� F•,, a � ,a � c.� `, �y :�:�. � � � � s ; _» c+ ��_�� , y � = .�.� `li : �i d .t �t; � ♦ ~'' !'1 �v .� �� 3 u v ~ 1 O C' � '' �_�� `? �� K O� �_ % �� ' �: \� �t,i `l. I� ►y,;.�s � � C7 �� a. �:u � v • � ��'�- � � \ � � H y KW .r�L O :� ♦ T/�� .y � ~ti � � v ►- - .,�?��'w!�. - . � Eahibit C �' �/ .. , + � � To Amead�d �I.5'Et"i C'� CCtrei'"�' ' , . condomiaiw.D.cl.r.cioo. E�p1�Counf�l, Color�On _ For Certlll�dlo b� full, hw �nd�ore�1 �t�or vW copy of the orlainel in my cuat . (a condominium) d�ts �'3-17�Q _ Sp� �L:` o�.t �'_ . �� DISTRICT COURT, COUNTY OF E •'"'•••. COLORADO ;' �' J` Deputy Cler Court Address: � � • ; ; . Eagle County Justice Center �: ��o . 886 Chambers Avenue� �:. ; t Eagle, CO 81631 . �c+o�,....Ga _ . . - -- �� - FlltR'y i,. PETITIONER: . • � ��►��NF.D CL-.►!r.: OFFICE . . . r. MANOR VAIL CONDOMI1vIUM ASSOCIATION, � MAY i T ZaM. a Calorado non-profit corporation �� . . ��i.... ' . �. � - E:+:'.,,.._ ::;.CO. ' � ' BY--.�-ivitR'��9� �� ase Number:�CV l$ rj Attorneys far Manor Vail Condominium Association: � � , .. � . . . . Div.: M . . . Ctrm.. Name: Thomas J. Todd � . � ' . Teresa I?. Locke � . � . Address: HOLLAND dt HAR'f LLP 600 East Main Stree� Suite 104 � Aspen, Colorado 81611-1991 . Telephone: (970) 925-3476 � � . Facsimile: (970) 925-9367 . � E-mail: � . , ttoddQhollandhart.com . � • . tlocke�hollandhart.com � � , � Atty.Reg.#: #162.89 (Todd) #26148 (Locke) � � ' ORDER GRANTING COURT APPROVAL OF AMENDMENTS TO CONDOMINIUM DECLARATION PURSUANT TO C.R.S. � 38-33.3-217(� THIS MATTER COMING BTFOR� THIS COURT, upon review of the Petition of Maaor Vail Condominium Association, and after a hearing, the Court hereby finds that the Petitioner has fully complied with subsection (7) of Colorado Revised�. Statute Section 3 8-33.3-217 relatin� to its request for District Court ap�roval of an order amending the Manor Vail Condominium Declarati�on, does hcreby grant the Petition, and does order, adjodse and decree that the attached First Amend:aeat to the Amended Condominium Declatatic�n for Manor Vail (A Condominium) be hereby " approved, and be rccorded in the real property records of Eagle County, Colorado. Once recorded, the Firat As�endme� s�ll have the same legal effect as if it were adopted pursuant to any r�quirarnents set forth in the aforesaid Declaration. � ;: � 879479 Pa�: 1 of 6 . 08/04/2N� 04:37P Tuk J S[monton Eaol�, CO 274 R 31.00 D 0.0A . ' � � , Done and signed this �day of , 2004 � � BY THE� COURT: � . , �— . � . � � District Court Judge . . 3212493 1.DOC • � .. � , . } . 879479 Pa9e: 2 of 8 08/A4/2884 04:37P :' T�ak J Slso�ton Ea91�, CO 274 R 31.00 D •.08 -2- � . , • . FIRST AMENDMENT TO THE AMENDED CONDOMINIUM DECLARATION FOR MANOR VAIL (A Condominium) THIS FIRST AMENDMENT TO THE AMENDED CONDOMINIUM DECLARATION FOR MANOR VAIL (A Condominium) ("First Amendment") is made as of the 17thday of May , 2004 , by Manor Vail Condominium Association, a Colorado non-profit corporation (the "Association"). RECITALS: A. On July 1, 1974, the Amended Condominium Declaration for Manor Vail (A Condominium) was recorded in the real property records of Eagle County, Colorado in Book 235 at Page 346 (the "Declaration"}. B. The Declaration contains provisions that prohibit the Association from taking certain actions approved by a requisite number of inembers whenever a mortgage holder disapproves to the action. The Association desires to change such provisions so that the Association may take certain actions that the members deem to be in the Association's best interest. C. Paragraph 18 of the Declaration cunently provides as follows: 18. Revocation or Amendment to Declaration. This Declaration shall not be revoked unless all of the owners and all of the holders of any recorded mortgage or deed of trust covering or affecting any or all of the condominium units unanimously consent and agree to such revocation by instrument(s) duly recorded. This Declaration shall not be amended unless the owners representing an aggregate ownership interest of sixty percent, or more, of the general common elements and all of the holders of any recorded mortgage or deed of trust covering or affecting any or all condominium units unanimously consent and agree to such amendment by instrument(s) duly recorded; provided, however, that the percentage of the undivided interest in the general common elements appurtenant to each unit, as expressed in this Declaration, shall have a permanent character and shall not be altered without the consent of all of the unit owners expressed in an amended Declaration duly recorded. D. The Board of Managers of the Association has proposed that the Declaration be amended so that Paragraph 18 of the Declaration be deleted in its entirety and replaced with the following: 879�79 Pap�: 3 of 8 •8/e4/2004 04:37P T�ak J Simontan Ea�t�, CO 274 R 31.0A D 0.00 � �- I ' • 1 S. Association Convevance and Encumbrance of Common Elements• Amendment. Termination of Declaration. The Association my acquire, hold, develop, condominiumize, dedicate, encumber and convey in its own name any right, title or interest in the common elements — including granting easements, leases, licenses, and concessions through or over the common elements — in accordance with Section 38-33.3-312 of the Colorado Common Interest Ownership Act, as it may be amended from time to time. The common elements may be altered and this Declaration may be amended or terminated upon the affirmative vote of 67% of all the voting members of the Association. In the event of termination, the provisions of Section 38-33.2-218 of the Colorado Common Interest Ownership Act, as it may be amended from time to time, shall apply. No action to challenge the validity of any amendment or resolution to terminate may be brought more than one year after the amendment or resolution to terminate is recorded. Adoation of Amendments NOW, THEREFORE, the Association hereby adopts the following amendments to the Declaration. 1. Paragraph 18 of the Declaration is deleted in its entity and replaced with the following: 18. Association Conveyance of Common Elements: Amendment. Termination of Declaration. The Association may acquire, hold, develop, condominiumize, dedicate, encumber and convey in its own name �ny right, title or interest in the common elements — including granting easements, leases, licenses, and concessions through or over the common elements — in accordance with Section 38-33.3- 312 of the Colorado Common Interest Ownership Act, as it may be amended from time to time. The common elements may be altered and this Declaration may be amended or terminated upon the affirmative vote of 67% of all the voting members of the Association. In the event of termination, the provisions of Section 38-33.3-218 of the Colorado Common Interest Ownership Act, as it may be amended from time to time, shall apply. No action to challenge the validity of any amendment or resolution to terminate may be brought more than one year after the amendment or resolution to terminate is recorded. 879479 Psge: 4 of 8 ` 06/04/200+ 04:37P Tuk J Staia�ton Eaol�, CO 274 R 31.0� D •.N � � , ♦ • . IN WITNESS WHEREOF, the Association has executed this First Amendment to the Amended Declaration for Manor Vail (A Condominium). MANOR VAIL CONDOMINIUM ASSOCIATION, a Colorado Nonprofit Corporation g , �- `.,,�,.,��==l •.!� � Y��=� Glenn Porzak,yPresident ATTEST: .- . Thomas R. Obinger Secretary/Treasurer of Manor Vail ondominium Association, a Colorado Nonprofit Corporation STATE OF COLORADO ) ) ss. COUNTY OF U ) The foregoing instrument was acknowledged before me thiso�day of , 2004 by Glenn Porzak as President of Manor Vail Condominium Associati , a Colorado Nonprofit Corporation. ' Wit s my hand and official seal; �CES Oe �c n expires: - 2-O� � � �;�,p 0 otar Public � •.�ieL1G o ti �� ' O�e 'CO�pP 879479 Paye: � of 8 08/e4/2084 04:37� T�ak J 8lnanton Ea�l�, CO 274 R 31.00 D 0.0! 3 ' . � .. .• , . , � STATE OF /'/L�CjC/1P/�� ) � ) ss. COUNTY OF 7��Q�2,�-� _) ti'- The foregoing instrument was acknowledged before me this � day of , 2004 by Thomas R. Obinger as Secretary/Treasurer of Manor Vail Condominium Association, a Colorado nonprofit corporation. Witness my hand and official seal: My commission expires: _� 3✓�� I� ary Public ��'s" • ��euz�eenr siw� ,,� Notory pu�N� Mlncws0f0 Comm. E lres,Ian,1, 3116806 LDOC 879479 Ps9e: B of 6 r�+k J Simonton E��1�, CO 274 R 31.80 6�04p2e�4•37P 4 � � � 1 BYLANB O! ti11110R V712L CO�IDO!lINIUlI l4SSOCIJ►?Id1 Th� na� ot th� organization shall bs Maeor Vail Condo�aini� As�xiatioa. 11RTICLE I OsJLCT l. T!M ouspop tor whiah this nonproiit 11��oci�tion i� lossa is to qowru ths caadoaiaivw psop�rtr aitnat� in th� County oi Eaqi�, and 8tat• o! Colos�Ae. i� d��osib�d in tM ��rtificai� o! Inoosposation and which prop�rty ha• b��o �nb- ■itt�d to th� Provlsions of tha Condowinimn Ova�sship 1►ct o! th� 6tat• ot Colosado by r.�o=aea co�ao.ini� D�alsratian. t. f�ll pre��nt or iulun ovnesa, l�nant�, futur� t�nanu, or anY oth�r p�r�oa that aiqht us�•in any maan�s th� faciliti�s o! t!N condamisi� Proj�et locat�d on th� psop�rty ar� •nbj�ot to th� r�qulalloe• pt Losth in th�s� lylsv�. TIN Ns� aeqni�itioa os rental of any oi td� condanioita� m�its (b�s�inatt�s r�l�rs�d eo a� •unit�') of t!� proi�et os th� arr� �et oi xeupsnar oi �►r ol sa1A unib Mill •iqniip that ttus• s�►Lv� �re acc�pt�d, r�titi�d, and will b� ewipli�d vitlt. �iCi�, II l�EItgBIp, VOTING, M7IJOAITY O! ONMEIIS. GQORUM� PAOXIES 1, �b�rs own�zship o! a condosiniuw nait i� r�quiz+d in ozd�s to qualiiy fos �z� p�in thls A�soelation. 1►ny p�sson on baeodnq aa awrNS ot a aondo- niai� nait shall sutamatically b�comr a erwb�r of t7►is 1►��eciation and b� subi�ct to thN� lylaw. Saoh a�mb�rship �hall tas*inat� vithout �ay fosmal 1►s�ociaLioa aation vh�n�ws sucR p�r�or c��«• to ovn a cando�inim unit, but •ach l�sslnaiion �h�ll aot reli�w or rel�u• any such lorm�s wasr iras anY liability os obli4s- tia► incnrr�d und�s os 1n any vay eonn�ated Mith thi• Association. or lmpair ae� siqhts os s�ai�� rhich th� 9oard o! Manaq�r� o! t!w 7►��oaiatioo os otlwss way h�v� aqainst �uch foswr own�z and a�nbsr� •sisiaq out o! or ia .,+r M.y caou�et�d vith ownar�hip and m�nb�r�lsip and t!u cowaants and obliqations incideat tMS�to. No c�rtiticates o1 stock �hall b� issued by tha 1►s�ociation. 2. Votin Votinq ■hall b� ba��d upon condoainim unie waanhip. Own�sship of • c�ius unit in Bailding• 1►, s, or C �hall �ntill� t!� ovn�s ch�r�ot to ea�t tro vot�s ior said uait. Ovn�r�hip o! a caado�inim onit !.n suildinqs D, E, oz 7 shall �atitl� th� am�r th�r�ot to cast on� vot� fos ■da vnit. M ovn�r o[ an undividsd lracelonal int�s�st in a condoanini�a unit shall b� sntitled to a vot�(s) eqnal to his aaid lr�etional a+ner�hip. Cwulatiw votin9 1• Ps'a' hibit�d. 3. Maiosity of tlnit Ovn�rs. Aa us�d in tha�� Bylav� th� t�rm 'majority oi anit a►nas� � a m�an unit ovnss• entitlad to c�st mor� th�n fiity p�rc�n� (50�) o! th� total votN of th� As�ociation. 4. uorum. Exwpt •s oth�rvise providsd by th�� Bylaw�, ths pre��nce in p�rton or by proxy of wn�r� entitled to ca�t forty perceat (�0�) ot th� pns�nt total vot�� in tM� J1i�ociation shall constitute a quonmi. An affispative wt� of a �sioritr ot tU� v�tN Pzs��nt, •lth�s in person or by pzoxy �hall be seqnir�d to tzuuat! busiwN�. S. P i . Votp eay b� cast !n p�sson oz by proxY. Proxi�• mu�t b� fil�d with�cs�tasY b�for� th� appolnt�d tim� ot �ach �eestinq. - AliT2CLE ZZI � ADMINISTAASION 1. 7►s n R onsib 1 ti s. TAe ovnsr• ot t!r units will aonstitut• tA� Manor a � • wr aNe owr h�s�inatter s�f�zsed to a� "1►i�ociatioa.' vhiah vl11 haw th� rs�poasibllity o! amoinisterit�q th� project through a Ho�sa of Manaq�r� snd ths Manaqiaq Ay�nt. 2. �4 s o�i.M�etin . Me�tinq� o! th� Aasociation �hell be held at •uch plac� as thi �Oazd o Manaqor� �ay det�r�eiat. 3. n TM annual seetinqs oi th� 1►ssociation shall b� h�lA ao the ay o �n�ir�as d�t�sminod lro� tiM to tinM by thc Boud of M�nager�. 1� 1►t �ueh wr�t�nq� th�r� shall bo tleot�d by b�llot oi the a+nezs a 8oard ot Maa- g�t� in accordanc� rith th� sequir�ant• o! pasaqr�ph 4 of Articl� IV o! th�w • Byla�. Th� ovn�r� �eay slso tzan�aet �nch other businesn oi ihe Astociation u w� preptly co�ne b�[or� thu�. � • . �. 8 �cisl M��tin s. Zt �hall b� th� dnty of th� Prssid�nL to aali a sp�a a m�• nq o 0 own�ss a� Eisectsd by r��alution o! th� Soazd of Manaq�s� os upon a p�titian •iqnsd by • m�osity o! ths unit ovn�r• d�vinq bun pr��nt�d to tM S�os�t�sy. Th� notio� o! �ny sp�aial mealinq �hall stat� th� ti�n �d placv oi �uob wMtiaq and th� purpoN th�z�oi. No otd�s bwin��s •hall b� ts�- act�d at a sp�cial u��tinq �xc�pt a� �tat�A ia Ch� aotic� nnl��• br cons�nt ot u a wajosity ol th� vot�s ps��at, �ieh�r in p�rson or by psoxr. 11ay sneh aNtinq �hall b� h�ld vithia thirty l30) day� ale�s z�cslpt by th� pr�si6snt o! sneh r�wlution os p�titioa. S. Notie� oi Ms�tin s. It shali b� th� duty oi th� B�csrtary to a�il a notic� o! �ao annua os �p�cial a��tinq. •tatiaq the puspoa� t!►�r�oi a� wll as th� tiM and pl�o� wlt�s� it is io b� h�ld, to th� unit oaa�rs o! sraord, at l�a�t ta► (10) bvt no! nwr� than fiLty (SO) dar� psior to snch me�tiagt provid�i, horw�s, t!u seer�tuy •hall not b� r�quir�d to mail aoticr• to aos� thu t�w own�r� p�r nnit. 2! �nor� than tvo persoas o�m a unit, th�y �hall d��iqnat� tvo adEs��• for s�c�ipt of notia for ths ovn�r� o! tbat unit. Th� uLliiy oi � notie� in th� �oaru»r psovid�d in thi� pasaqr�ph shall.b� con�idts�d nolia s�rv�d. 6. Mionrn�d Mn_!lnq. I! anY s�tiaq oi ovaer� c�naot b� orqu►isaa b�eanw a q�wrm�Tiu no a �nd�d, !h� own�r� who as+ P=��t �ither in p�rsos or pro�ry �ay • adjoura t!N s��t�nq to a tis� not l��s than twnLy-lour (2t) hour� iroa t!u tia� t1f� osiqinsl matin9 va� call�d. ' 7. Ord�s i eu�in��. Th� ord�r oi ba�inass at all �tinqa of th� we�rs oi unils • � � s� o la+�� (a) Call to ord�r. (b) tbll call and c�stilyiaq prosi�s. (o) Proo! o: notic� of ar�tinq or waiver o! aotic�. (d) A�adiaq o! siant,�� of pr�c�dinq me�tiaQ. (�) tl�port� ot dir�atoss and o!liar�. (!) ibporb o! coeeitt��. (9) P�port oi Manaqinq 1►4�at. (h) Ei�clion of mansg�s�. (1) �lalini�lud busin��. (j) 6�n�ra1 �nd MM bu�in��. (k) 7laiouznaient. !. FlNtin L ans�� for Mambers. Mewb�s� att�ndiaq th� aaawl m��ting ay b� prw • w �x ons z� own�z charq�• and xith snch oth�r b�aatiti as eh� Do�rd o! Naaag�rs shall lsami tim� to time det�rmin�. �rtcss sv eo�►nc ot rwa►ctAs 1. Nun�b�r sad__Oualificatioa. ssow and ait�r the 1977 Annwl Mtitlnq th� alLais� of t6�� oc a oa s a � gowrn�d by s Boud o! ifanag�s� coaipo�ed oi ten (10) memb�z� o! th� J►��ociatioa. 2. Powss and Duti��. The eoard o! lf�naq�s� �h�ll hav� th� pow�r� aad duti�� a�o��asy or � a ini�tration ot th� aflair� o! th� 1u�oei�tion anA !or tM op�ration, rsntal and maintenanc� of a fizst elas• r�sid�ntial and se�ort lodq� condooiniu■ op�ration. Th� eoasd of Manaqsrs may do �11 �nch acts and thinq• as ar� not bq lw o! by th�s� 8ylw� os by the Condominium D�ciaration dir�ct�Q to !» �x�rais�d and don� by th� am�rs. 3. Ot1Nr Powr� aM Dut *�. Th� Boazd oi Manager� shall be empow�red and �hall haw e ut e■ arfo owi� (a) To adaini�t�s and enforca th� eov+nants, eonditioas, z��tzietion�, easem�nt�, use�, li�aitation�, obliqations �nd all othez provi=ion� set forth in tM Con�ols�niu� D�cluation •ubwitting the proparty to the pzovlsion� o! th� Conda�iniul� Q�A�s�hlp Act of th� Stats of Colozedo. ' (b) ?o •�tablish, �ak� ■nd entore� eowplianp with such r�a�on�bl• houw rul�� a� MY Y� nec�s�astir !os th� op�satioa, us� and occupanry oi this conda�iniun projeet with th� si ht to awnd •aw� fsom tiw to ti�. 7► oopr o! �uch zul�s �nd s�gul�tioos �hal� be daliwnd or ail�d to each memb�r proa�ptly upon th� adoption ther�of. (c) So k��p in good orhr, condttion aud r�p�ir all of ch� qen�ral aM 1l�itN co�op �l�tratt aaA all itut ot p�s�onal proptrty, ii any, u��d in.tlu �njo�nt of th� •nlir� prrwis�s. (d) To insnze snd kNp in�ur�d all of the insutable qen�zal couwoa � elaant� o! th� prop�rty in an aewnt eqnal to th�lz niaxiew seplac�rnt vnlu� as i� provid�d in tht Dealaratlon. Furthtr, to obtein and naintain comprsh�osivs liability insursna covering th� uatire praei��a in aieount• not 1�� than i100,000.00 p�s p�sNn �M 53N,000.00 p�s accldont and 550,000.00 pmpertr daaaqe�. To inAr� an/ kss* ins�tN all a! th� fixtur�s, �quipnsnt �nd peraonal psopssty sequlr�A by th� Associaiion Lor the b�r►ofit o! the resociation and t!►� ovner■ _�.. � . - . of th� candominium unit• and th�is lirst moztgags��. (�) To fix, det�rmin�, lsvy and coll�ct th� aioathly psosst�d as�es�- awnl� to b� paid by •�ch o! th� ovn�rs tovard� th� qross �xp�n�e� ot N� �ntira ps�wis�� and by sajosity vot� o! th� Board to �djust, d�cs��a� or inarsai� th� aaouat o! th� montdly as��nts, and to r�mit or r�turn any exce�s o! sis�s�- �ati ows �xpens�s and cash ns�zv�• to ths amers at th� end of aach op�ratinq y�az. To levy end collact ap�eial ass��we..ts when�wr in th� opinion of ths eoud ie i• n�w��azy to do •o in ord�s to w��e incs�as�d op�r�tinq os wint�nanoe ��cp�ns�� os cost�, or additional capit�l �upen��, os bscause oE �u�rq�ncl�s. 1►11 sontbly or oth�s a��sss�nts shall be in �tatem�nt fosw aad ahall •�t forth th� datail of the variow exp�nie� Los vhicA th� asse��menb are b�inq aud�. (i) To colleai d�linqu�at a�s�s�s�nts by suit or oth�swi�• and to �n�oin or se�k dmag�� fran an ownaz aa is Qrovided in th� D�clasatioo and th��e 6ylav�. (g) To psotact and dei�nd th� entir� premis�� trom loss and da�aaqs by �uit or otherwis�. (h) To bossa+ luads !a ord�r to pay !or any �xp�ndituse or outlay r�irsd pur�uar�t to th� suthosity qsaoted by t!N provision� o! th� r�eorded D�alasation and to �eut� all �uch instr�snt� tvid�ncinq •nch ind�bL�M�s• u th� Hoasd o! Manaq�r■ �ay d� n�c��aasy, aad �ueh ind�btedn�� hall b� th� i�wsal obliqati� oi ali ot the own�rs in L!M asioe pzoportion a� their int�z�st in th� 9�eural common •lem�nts. (i) To �atar into contrects within ths •copv o! th�ir dutias end poves�. (j) To ��tablish • b�nk account tos th� co�on tzeaiuzy and !or all ��par�t� tued• which �ze r�qu�sed or may be deewed advisabl• by ths Hoard ot M�naq�ss. (k) To k��p and maintain lull and accurate book� and recosd• shwinq all o! Lh� z�c�ipts, ��n�� ar disbuzs�a�at• and to parmit sxemiaation tn�r�of •t �nr sruaa�bl� tia� by •aah o! th� owners, and to caw� � camplet� audit of tM Eooks and sccounc� by a comp�tent e�rtiii�d publie accotimt�nt, onc� �ach y��s. (1) To pr�pas� and dsliwr annwlly to tha ovnez� a stat�m�nt shwinq �11 rec�ipts, axpen�at or disburs�m�nts �ince th� last such staturntt provid�d, howw s, ihat in tia •v�at o! aultipl� wa�s• o! a •1aql� unit, no aos� th�n tvo such siat�urnta shall b• prepasrd pss unit and th�� st�c�sals aAall b� d�liwred !p no awr� thaa ewo diLl�rant addr�ss�s. (+�) To m��t at l��st twic� aaah y�ar. (n) To d��iqnat� and appoiat, by ra�olution adopt�d by • naiozity of th� Man�q�r� in oflic�, on� or mor� cosnitt�e�, aach o! rhich shall con�i�t o! rio or sqr� Naaaq�sa, which comwitt�ss shall hav� and �x�scie• tha authozity o! tha 8oasd oi Managars, except as 11o�ited by th� Colorado Nonpzotit Corporati� Act. (o) To desiqnate the parsonnel nece�sary !or th� maintenana and pp�ratian o! tha general and limited comn�n elea�snts. (p) To control and manage ths ue� of th� parkinq ar�a. (q) In q�n�ral, to c�zry on the aduinistration oi this llssociaLion aod to do all ot tho�� tbinqs n�cti�sazy end reasonable to cazry out th� qow zninq and the op�ration of this coadominivai property. (r) To employ for the 7►ssociation a Nsnaginq Ag�nt at a compensation established by the Boazd to perform such duties and services as the Boazd shall authorizs. 4. Elsction an¢ Term o!_O_f_f1c�. The ten o! oftice of ineab�ra of the Bo�sd oi Man�qts� a e x� or thr�a (3) ysarst provided, howa�ar, that at !h� 1973 1►r+nual Meetinq of th• Association lonr Manager� shall b� elected for a t�no ot thrs� y.artt lhre• Manaqer� •hall be sleeted for a tezn of two ye usr and thz�� Menaqez� ihall b� sl�cted for a te� ot one y�as. 1�t the expirstion of tA� t�rni ot olfie� oi each Menaqer the sncc��or Manaqer shall be •lect�d to s�rv� a t�rw et ehr�a (3) y��ri. Th� Man�q�rs shall Aold office until th�ir �uaoa��ss Baw b��A dulr a1�otN �nd qualifi�d. Th� Nan�qar� shall ba •l�eC�d by a ��josliy ot tho vot�� ca�t by unit am�n, either in person or by proxy. S. Vac ci Vacanci�s in the Doasd o! Manaqers caus�d by any r�ason othes than t re �al ot a !lanaqez by a vot� oE th� Aseociation sRall b� filled by vot� of th• ieajority o! th� remaininq Manaq�rs, even though they m�y constitute l�ss than � quonas� aad each porsoa so •lected �hall b• a Maaag�r until a �nc- ps�or is �1�ctN at th� n�xt annnal ar�tiny of tho Association, at which tiw a �eN��or ■hall be ol�et�d to fill tha uns�cpired tsrn rssuliinq iros tha va- cat�. -3- , ' . , � i. R�woval oi llaa �r�. 1►t �ny regular or �p��;1a1 me�tinq dnly call�d, any aa� or wos� o t u an�q�s• say b� su�w�d vith os without c�ua� by a waiositp ol th� vot�� aa�t by unie ovn�ss, aad • �uop�sos �aay tFan and tlf�r� b� �l�ot�d to till tM vae�ncy thus os�at�d !or tl+� m�upir�a t�sw ot th� z��nwd Manaq�s. My Maaaqss who�� z�moval ha• bNn propos�d by tA� o�m�s� shall b� giwo an opportunity to b• h�asd a! tlf� ar�tiaq. 7. Os anis tinn lN�tlnq. Th� first m��tiaq o! a n�rly �l�ct�d 9oard of Manaq�r� �1t�1 • ti� r n t�a d�y• ot •l�ction at �ueh pl�a� a� �ball b• tix�d by tb� Manaq�s� at th� w��eia9 at which •ucA Manaq�rs w�n •l�ct�d, and no notaa sh�ll b� n�ns�asy to th� nwrly �l�etad Man�q�s� la ord�r l�q�lly to con�titnt� sueh ar�tinq, providinq � wjority o! th� vhol• Boasd �hall b• pru�ne. t. lt��las�. R�wlar m��tiaqs o! t!N bud o! Man�q�r� aay b� aall�e bY t�gr�� en or a a�aiosity o! tlf� M�naq�r� aad ■ay b� h�ld at �nah eia� aoA pi�c� u shall b� d�t�sain�d, fro. ti� to tieo�, by a eaiosity o! tb� Mauaq�r�, but at l�ut tve aucti ow�eiaqs �h�ll b� h�ld durinq ��ab cal�ndar r�ar. Notic� o! r�qular mNeinqs oi tl+� �oasd oi Manaq�ss �hail b� qiv�n to �ach M�naq�s, p�rsonally or by �ail, t�l�phoa� or teleqraph, at l�ast thra� dayt prior to th� dar awad ios snch ms�tinq. !, s �oial M��tia r. Sp�cial m��tiaq� o! th� Doard o! Manag�s� *sp b� ea11�A by t r�� a on !!�� day�' aotic� to ��ch lt�naq�s, qiw� p�s�oaall� or bp aail, L�i�phan� oz t�l�qrapA, which notie� �Aall �bts th� tim�, plaa� and pus- po�� ot th� a�ttinq. 9p�oisl ar�tinq• oi ch� aoasd ot M�n�qts� thall D� oallb br !h� Pr��id�nt or 9�er�tary �n lik� oannsz �r►d on lik� notic� on tM vsitt�n r�qu��t o! at l�u t two Manaq�rs. 10. Maiwr o! Notic�. 8�lor�, at, or att�r �y ar�tiaq ot t!u 8oazd o! Manaq�s�, aar Maqay�r m�y, n rritinq, raiw nvtic� ot snch eu��tiaq and snoh v�iws shall b• d�ea�d equiv�l�nt to th� qiving ot •ud� notice. 11tt�ndaaoa by a Manaq�r at �ny s�tiny o! th� Baard �hall b• a walws of notic� by hia� o! tM tis� �nd pl�c� tMr�of. 2t all th� Manaq�s� an pr��nt at �y ar�einq o! th� Boasd, no notio� shall b• r�quisad and any buain�ss suy b� traruact�a at snch ur�tinq. 11. soatd oi Nan� �r�' uerma. 1►t all eN�tinq� e! th� Doazd oi ltanag�r�, a aisjor ty o � Manaqsr� • a con�titut� ■ qaos� !or th� tsan�aclion of bwi- n��, �ad th� aets oi the pajority oi tl� Maasqert pr��at at a mNtinq a� vhich a qtforu� is pr�pai �hall b� th� acta oi th� Doasd o! ltattaq�ss. I!, at aay antinq o! the Hoard ot Maaaq�r�, thes� b� los than a qnoruo pru�nt, Lh� wa- jority ot thoN pra�nt may adioasn th� a��linq iros tia» to tlm�. 1►t •ne6 adjonrn�d ms�tinq �ub��qnsntly h�ld, any bwios�� wAleh niqht haw bNn tsansact�d at t!N �ee�tinq u osiqiaally called may b� transact�d without Luzth�r notica. 12. R�iaib aaae oi soard p�wb�s�. eoasd Mab�r� aay b• ssi�buss�d foz �atoal ewts curts a nq ar m��tinq� u th� eoard ot 1lanaq�s� �hall lse� tiw tro tim� d�t�ssi�. 1]. lid�li eond�. Th� Board o! ►�anaq�s� aay r�quir� that any or all oitic�r� asA a� oy�M o 1►�soci�tion A�nQlinq or sa�pon�ibl� tor 1►s�oeiation lund� d1a11 l�sai�h ad�quat� iid�lity bond�. Th� pnsivna on such bond� �lt�ll D� paid by th� Ai�ociatioa. � 1�. No Maiv�r of A14dts. Th� ani�sion or tailus� o! th� 1►s�ociation or �nY ova�r �n orc� � cov�nants, eonditions, z��trictfons. �a��at�, us��, limitr t/on�, obligation� or oth�r pzooision o! Lh� D�claration, th� 8ylaws or th� r�qulationi and hou�� rulu adopisd pur�uant ti�r�to, �h�ll not constitut� or b� dNad a vaiwr, nodiLiaatioa oz zel��s� th�s�ol, and th� soard o! Maw�ss os th� Manayinq Aq�nt �hall haw the riqht to anforc� th� �aw lh�z�dt�l. 11RTZCLL V ORICSII! 1. D�si etioa. The oElic�r� of the As�oclation �hall b� a Prs�id�nt, a Vicr Ps�� n�cs�tazy and a Tz��ur�z, all of wdom •hall b� •lsctad by and fsos tM Doasd o! Maaaq�rs, and �ueh •��istaat ofiic�s• (who nNd not b� uamb�s� ot eh� 1►ssxiatlon) as t!►� Hoard o! Nanaqers �hall iroa tiaM to ti� d�t�rmia� and el�ct. 2. il�ction ot Oil�cts�. Th� olfic�n oi tM As�ociation �hall b� �l�et�d �nu y y tM as o M�naqsr� �t tl�� osqanisation sr�tinq o! �aeh nw Boud and shall hold oifi n at th� plea�us� o! th� loasd. On� person aay hold concur- r�atly any two ottic��r prooid�d, ha+�wr, thst th� oflic�i o! Pr�sid�nt aad S�as�tazy ahall not b• h�ld by the sasr p�r�on. Th• oftic� oi Vic�-PYesident nMQ not b� fill�d. ]. R of O!1 c . Upon an aifirmatiw vot� ol • maiority oi th� eeaiD�r� s! • �:a, �nr ofiieer may b� z��wwd, �ither with or vithou! o�w�, �r►d hia �acc�s�or el�ct�d �t �ny z�qular �r�tinq of th� Doud of Manay�r�, or at ar�y �peeial m��linq ot th� soasd cell�d for �uch pnrpos�, 1. Ps�sid�nt. Th� Prasid�nt sh�ll b� th� chi�l �x�cutiw oflie�z o[ !!� As�oci�- tioa. s o �11 psuid� at all ��tinq� o! th� A��oci�tioe� and of th� Boasd o! Manaq�s�. F1� �h�ll haw all oi t!►� qeneral powrt� snd duties whicA ar� urually w�t� in tM otLic� ai pr��id�nt of an •s�ociation. -4- �; . . � ,• . � S. Vie�-Pr��id�at. Th� Via-PZ��1d�nt �Aall ha�� all tb�.poM�r� and anthoslty and p�s oss a � Liu+ation• aad duti�s o1 t!� Pr��id�nt, in th� �b��nc� oi tM ls�sid�aL, os hi• inability for wy raason to �xasci�� •uah powss �d tunc- tion� os p�slorn �uch duti��. 6. star�ea . ?h� S�cs�tary •hall ke�p all !h� miaubs oi th� me�tinq� oi th� �K�rpss and eh� �iuut�s oi �11 w�tinq� o! th� A��ocia�ioat h� �hall u haw ehuq� oL soah book� aad pap�r� a� th� so�rd o! Il�waq�s� a�y dis�et� � h� �hall, in 9�n�z�1, psstoza all th� duti�� inei�at ta th� o!!id o! Saes�tary. T1� g�ez�tary sdall kNp os a�u�� to b� k�pt at tb� psinoip�l olties ot th� P 11s�oeiatioa • caspl�t� and up to dat� li�t o! wrb�z� a� tk�ir last kawa �d- dz�iN• as shovn on th� s�eord� o! th� Ai�ociati�. Such liit �hail al�o �hov cppo�it� �aeh Mab�r'� aaw ths a�sb�r os oth�z appsopsiat� d��iqnaiion oi th� u�it ovn�d by sych a�w�z and a d��criptioa ot th� liait�d co�wn �lu�nts a�- •iqa�d tos �xclu�iw w� in coaneotion with suoh uait. SuoA list •h�ll b� op�n to ln�p�otion by m�ab�r� and oth�s per�ons lawfully �titl�e to inip�ct the saTM at r�asoaabl� tim�s anrinq r�qular bu�inss• hour�. �� n�a�or�s, Th� Sr�asus�r �hall kNp os can�• to b� k�pt �d lurni�h�d to hia �pnF�iry j cppr o! tlf� r�o�ipts aad disbur�wnt• in psop�z aeconniinq losn, aed all otlMZ Litt�noi�l z�cord� and books o! �ocouAt p�staininq so th� 1►�wcia- a !1� aad ita op�s�tioa�. Th� Tr��sus�s m+Y �u9�� =«?��ibilitj ior th� d�po�it sad di�bnr��at o! all moni�� and ali wlu�bl� •!l�ets oi tM J1s�eaiation to tb� Man�41t+9 1►9utt� u►d u� Tz�asur�r sdall r�vinr •uch d�po�it� ira� tia� to tis�. Axz'iCLS Vz iema►aRFicasso�v or orrseuea, t�uuu►csas nNa r��►cixc �+cc�ee�rr 1. Iad�illaatioo. TM A��ociation �haii Sad�mnily �ach saeNg�r, oltiws or Mana�sN n9.a�. ni� Mis�. �x�a�tors �na adn�ini�trator�, aqa�nst ail lo��, co�t� and �xp�n��. iaaludiaq atte�s�o�y lN�, r�a�onably incursed bp hia ia con- n�ation rith a�I acti�, �nit os psoaNdiaq !o vhieh h� may b� oad� a P�Y bY r�ssoa oi hia b�iay or h�vinq bNS a �r or otiiar of th� Jusociatioo, •xa�pt a� to wtt�r� a� to whieh h� stuli b� lin�l2y adjodq�d in �ncH aotioa. �ait or proe�sdinq to W li�bU tos gso�■ Mylig�ac� or villlul wisoondnat. Ia t!w �wnt o! s a�ttl�wnt, indanitication sball b� pzovid�d aaly in oonn�ction with �uch m�ltsrs cov�sM by th� ��ttl�nt a� to which th� 7►��ociation i� �dvi�ed by couos�l that th� p�rsas� to b� lnd�onili�d ha� not b�sn gnilty o! gra� a�qliq�ac� os rilliul mi�eonduat in tM psrlosaane� o! bi� duty aa saah sanaq�= os oific�r !a s�lation to th� aiatt�s inwlwd. T!►� ios�qoinp riqhts shall not b� �ulusiv� oi oth�s ziqht� to whioh �uah manaq�z or otiia�es wy b� �ntitl�d. J►li liabilitr, > Ioi�, dwq�. ca�ts and �sp�n�� iAC�rnd ar �ufl�r�d by th� luweiatioa by s�a�on f; or uislnq out ot or ia con�ction vith tl+� forrqoinq ind�wniiloatioa psvv��ioos •hall b� trMt�A aAd handl�d by ths 1►a�ociatioa a� • rnmnoa �71p�AN�/ psovidsd, howrnr, tAat ftotsin9 in thi� 1►rticl� V2 cont�in�d �6�11 b� dNtie to obiigai� th� 1►��oaiation to indpaiiy any m�aber ez own�s e! a coadoainivs nait vho is os has b��n • wrnaq�s oz oilic�z ot tha 1►�soeiation vith r��p�ot to any duti�• or obliqationa a�sun�d os liabiliti�■ ineurr�d by him nr�d�s and by vistu� o! � !h� Condowinium Deciar�tion a� a araib�s or ownas of a condominiue uait cows�d tlur�by. 3. Ot s Li I li! . Contracts or oth�r caaaiturnt� mad� by th� 8oard ot Maa�g�zs, offia�r o= aaqinq J1g�nt ■hall b� Aad� a� ag�nt for th� unit owness, aud u �wp �rnt t!� �Aa]3 haw no p�s�on�l zwpruibility oa any sucb ooatsast or c��t#Mt (�ewi� � usit ovn�=s), and th� liability oi sny unit o�r oo anr w : •ocA coutnot or ca�laiWnt �hall b� limit�d to such proportfon�t� �has� oi th� x total lial111ty th�rw! sa th� conewn int�z�st ol such unit be�si to tJr �qgssg�t� caaron intsre�t ot all th� unit ovn�rs, �xe�pt that ar�y los�e� incnrs�d br th� Assoeiation bscause o! its inaDility to eollact such psoportloaat� �h�sr oi th� total liabSlity from a p�rticular mambez �hall ba �hazed proportionately by th� otlrr �t�. ARTICLL VII IU�NDldl1T3 TO B7LAM8 The�� Bylaws may b� �m�nd�d by tb• 7►s�ooi�tion at ar►y zeqnlar or �p�eial ur�tinq of th� A�wclallon, and no amendae�nt ■h�ll tak� slf�et unle�s appsov�d br orn�r� r�pr��entioo �t lea�t •ixty p�re�nt (60�) oi th� aqgr�qate int�z�at o! tM undi.ideA own�rship o! th� qet�ral ce�o�n •l�ewb. ARTICL= V2I2 lqRTCAGES 1. Notice to Aaiocietion. M o�mtr'who mortqaq�s his unit �hall notiiy th� 1►�soc a aan t rou4 • �9�4 Aq�nt, if any, or th� 6�cr�tary of tAe A��ocia- tiat, O�sfa� t!� nw an� adEsr�s of hi• eortqaq�e. Th� A�soci�tion shall maintain �ach inE�.su��tion in a book tntitl�d "MOrtgag��t of Unit�.' -S- , • . �• 2. Motia� o! unpaid As�nnrab. Th� J►��ociatlon shall at th� rpw�t o! a mortqaqN o a u s�post aay unpaid u��asnanb du� iro4 th� ovn�s o! such �i t. 11ATI CLE i x EVIDENCE Of 04iNEASHIP, RLGI�TRIITIOM O! M7►ILING l�DORLSB 11liD R�QZRiD P�7�2Lf 1. Proof of Own�r�hlp Face�pi !or thos• ovn�rs vho inittally purchas� a can- dp� � yn t mia Dualazant, any p�z�oa on b�vo�iny an own�r o! a candwiinims uaiC shall furnirh to ths Eianaying 1►g�nt or poard of M�p�q�z� a photo copy os a c�rtili�d copy of !h� s�cozd�d instr�m�nt v��tinq that person vith an lntar��t or wn�rship whieh instrufNat �h�ll zesain ia Lhe lil�s oi the A��ociatloa. A �s shall aot b� dNa�d eo b� in qood •tandiaq nor •hall he b� �ntitl�d tv vot� at any a�nual or at a �pscial mNtinq o! s�ab�s� unlas• thi� requiro�nt i• lis�t ar t. 2. Rs i�tration o! !lailin 1►ddr�ss. Th� ownaz o! �acb coadouinivs nni! sdall h�w a s�9 •br n9 a us to b� u��d br tht Nana9lnq Aqeat oz th� 11��o- olatloa !or mailinq o! mothly •tatwab, notices, demand� and all oth�r aar auoieations, ana •ach r�qi�t�s�d �ddrN• •dall b� th� onlp saillnq addr��• o! a p�rsoa or p�s�aru. tism, cosporation, pasenszship, as�ociatioa or olh�r 1�1 �ntitY or �ny coibiaation th�r�o! to b� w�d br the M�ociatlon. Maltipl� ovn�s� o! a unit •hall d��iqna[� eo more ther� riro sueh addz�as��. 9uoh zeqi�t�r�d ad- drps�a o! a conEominiuc+ unit ovnes or wn�r� •hall bs iusniih�d by such own�si to th� 6�cs�tary within fiv� d�ys aft�r transfss o! titl�, os alt�z a chan�� o! adds�s�, and such r�qi�tration sball b� in wsitten lors aad �iqn�d by all oi ths ovnsss o! th� condominiun unit os by •nch p�rson� as ara authosis�d by lav to zepr�sent th� iateresta o! the arn�rs tlNr�ot. 3, �r Proxi�. I! titl� to a condaainivm unit i� dald by mor� than on� p�s�on os a �, oorporation, pastn�rship, as9ociatiaa, or oth�r l�qal a�tity, er any ewibination thersoi, such ovn�s� �hail s�cut� ■ psoxy appointinq and autderisinq on� p�s�on or alt�rnat� p�ston� Lo•attand all annaal and •p�ci�l mNtiaq� of a�sbsss and tias�at to c��t what�ves wq th� ovn�r hims�if si9ht aa�t i! h� v�s� p�rsoa�lly ps��nt. Sucti pro�ey �hall b� �!l�ativ� aad r�s�ia in iorc� unl�� volnntirily r�wked, aarad�d oz sooa�r t�minat�d by operation oL lawi pro�id�d hw�v�s, that withia thizty dar� alter snch r�vocation, am�nda�nt os t�=aiastion• th� a+n�zs •hall zeappoint aad authoris� ona per�op os alt�snat� p�rson� to atti�nd all �anual an3 sp�cial m��ting� as provid�d by this p�zaqsaph 3. rn� r�qtii.zwnts her�in containad in thi• 1►rticl� ■hsll b� fir�t aNt b�loz• aa ovn�r ot a coadaainium anit •hall be de�a�ed ia good �tandinp and �ntitl�d to vot� at aoy annwl os spscial me�tinq of m�nb�ss. aA4ICLE X OBLIGATIONB OF TSE OWNERS 1, 1�1s _y�sm�Ats_�. 1►11 ovn�r� ehall ba obliqatad to pay th� monthly a��easnents i�� 11�aociatlon to n�Nt all of th� co�non e��n�u •nd payn�nt thsrwL ; shall b� mad� not latsz than on th� t�nth day tollowinq t!u mailinq of t6a moathly j statuant to th� r�qi�t�red mailinq addz�s�e� o! th� ownszs. Th• Aa��meats shali b� oad� pzo rata and �hall ba dus monthly in advanc�. 1 w�ab�r •hall b� d��o�d to b� in qood standinq and entitl�d to vot� at any annual or at a sp�ci�l mNtlnq of sub�s�, viLAin th� s�aain� o! tl�� Hylav�, i! and only ii Lhat wm�r sh�ll hav� fully paid all as��w�nts oad� oz l�vied aqain�t the ownez and tA� cond�alniuR �utit a+eNd Dy th� ovwsr. 1. Notice ot Lien or � t. M ownos aha21 qiv� notiee to the Association ot ev�ry—T��n os enc ranc� upon his condosiniuo unit, otl��rr than for tax�s and tp�cial as��s�r.Nnes, and notice of av�ry suit oz other ptoc�eding which may af- f�at th� titl� to his eondominiiaa unit, and such notiee shall be qiven withln liv� days att�r the wnez h�• knowl�dq� thaz�ot. ]. Mainteaance and R�pair. (�) Svssy owner •hall b� obliqated for th� exp�ns• oi all maint�n�nc� and repair work within Ais own unit whiah, i! oaitted, would adv�ss�ly afisct tA� v�lu� of th� proj�ct in i u •ntiz�ty or th� zentability of th� unit. If th� unit i• no� k�pt in first ala�■ condilion, th• Board of Man�qers shall hav� author- ity to either (1) ruov� th� nnit froA th� list oi uait• availabla for rentalt or (2) in�uuct th� swna�iny �g�et te cau�� the n��ry rork to b� don� to =r " turn tb� vnit to a lirst vlars contitioa, all at ths cost •nd exp�nst oi th� amts, which co�t and �xp�ns� sh�ll•be bill�d sad coll�cted ss hsrein provid�d aa thonqh !t w�r� an a��sse�nt fos co�on expen�t�. (b) 1111 maintan�on and rep�irs of internal in�tallations o! the unft auch a� vat�r, liqdt, ga�, pa+er, sE�wage,. telephon�, s�nitary lnstallations, doors, winda+s, •l�ctrical fixture� and all othur accesaories, equipment and fixtures shall b� at th� nnit oMner's �a�n��. (c) M own�r she12 b• obligat�d to r�ia�Fiurse the A�sociation praoptly -6- � • , upoa s�e�ipt ot it.� �tatre�nt Los any �xp�aditus�� inansr�d by !t ia r�paisinq os sylsainq �ny q�n�sal or 11ait�d co�on �iwn! du�q�d by th� a+n�r'■ n�qii- q�nc� os by th� npliq�nc� ot th� wm�s'• l�naeta os �y�nt�• {d1 All oo�t� os aharq�s inenrz�d tos s�psisiaq es r�placinq ant q�n- �ral or liwie�a oa�wa �lwnt dmaq�A by • t+nant o! th� A��ooi�tioa (in t1k oonss� o! it� lodqs or hotsl op�r�tion) �hall b� paid br tL� Asaoaiation. 1, cha c'• L . P�ch o�nus a9sw to ind�aaiiY aan to Aold �aaA o! t!u otlwr am�r� ara ��s zw any and ali clalau o! m�chaaio's lien lil�d aqaiast otMs ueit� �ud eh� appurt�nant q�a�rsl eocc�oa �lau�ats !or l�bos, wt�zial�, ��r�icy u a os oth�r psoduata lncosporat�d in th� arn�s'• noit. ia th� �wat sviL tos los�- olo�ns� is aoawao�d, tMa vithin nin�tp days th�s�att�s •nch ovn�s �hall b� r�- quisM to d�po�it rith eh� 7►s�ociatioa wh or n�yotiabl� •�cusitisi �qual to t!►� aao�u►t ot such olsi� plu� intsr��e Los on� yur toq�th�r vith t!� •ua oi On� gnnAr�d Doliart. Such su� or •�curit�� hall b� h�ld by tM l►s�oelation p�neinq iinai ad�ndication or •�ttlwnt oi th� cl�is or litiqatioa. Disbns�wot o! •uop luad� er proo��ds �Aall b� wad� bp t!►� l►asociatios Lo i�uur� pay�nt oi oz oa aeoonnt o! snab tinal jud9went os •ettl�a�u►t. llnr d�tiai�acy •hall b� pai� tostlMriels bY tl+� •ub��ct o�m�r. and hi� lailus� to �o pay sA�ll �ntitl� t!►� J►sie- aiation to �a1u •uah paYm�ut, and th� aoo�mt th�rwt shall b� a d�bt o! t!M ovn�r and a li�e a9ai�ut hi� coadoaiaiuoi unit whiel� aay b� tar�alos�d u i� psovi�d in pazaqzsph 21 0! th� D�alustion. , S. Ga��sal. (a) Zach ovnar shsil coaply •erictly vith td� psovisiom o! a11 l�qal and othsr 8ocun�nta aflectinq that a+n�r's aait �nd 9�sa1 coo�oa •l�au�t�. (b) eaeh a►n�s •Lall alway� �nd�awr W ob��rn and psa�ot� !h� co- op�sstiw puspo�� !os tlf� acewopli�lwnt of vhich thi■ condoainiw� proj�ct wu bnilt. i. Os� oi Onits--=nlast�al Chan4u. (a) 1►11 mit� •hall b� utilis�d praneipally !or rssid�atisl puspo��. (b) 1�n own�r �hall not wak� �tructnrsl modilication� to hi■ uAit vlth- out ttw writt�n appsoval o! th� Houd of llanaq�r�. Tti� 8o�rd o! Manaqtri �hall b� aodli�d !a vsitiaq ot th� iat�nd�d moditieatioru throuqd th� Mae�qinq Aq�at, os it ne ManNiaq 1►qMt i� ��ploy�d, th�n throuqh tl�� 8�as�easy a! !!� 11s�ocia- tioa. Td� 1►asoaiation •hall haw th� obliqation to aa�v�s an owa�s'� r�qn��t vithin iiltNn dari alt�s ■ueh notio�. �ad lailus� to do so rithta anch tia� •hsll m�an that th�r� i� no obi�ction to td• psopw�Q uodlliaations or ait�ration. 7, Os� ot G�n�sal Cowson Elu�nts �nd Lisit�a Co�on Slwnts. Laah o�r ur w� � vin�rar caveon � �at� ana cns uazwa co.�o.. ...�o.� in aaaosi�aa vith tlt� purPa�� =os which they w�s� int�ad�d vithout hind�riaq os �ne:eaehinq uysn th� iwtul siqhts oI th� otMr own�r�. B. Ri9ht of EntrY. (a) M ovn�s •hall and dw� grant ttu riqht o! �ntry to th� lf�na9lnp AqMt ot to ar� otA�s p�r�oe authoris�d bY th� Doasd oi Manag�r� in aw ot aur u �ss�Mey ori�in�tin4 in or thr�at�ninq that am�r'� unit, vh�th�r tM ovs�r i• pr��r►t at th� tiw� oz not. (b) 11n ova�z �ball p�sa�it oth�r ovn�rs, or th�iz reps��ntstitii, phr► •o r�qnis�d, to ent�r his unit !or the puspo�• of p�stosming installatlat�. alqs- atioa• os repairs to th� aachanicsl or electric�l s�zvic�s, psovid�d that requ�tts for satsy �r� mad� in advanc� and that �uch antry i� at a iim� conv�ai�nt to t!� o�r. In cai• o! an �r9Mq. •uch riqht of �ntry •hall b� imMdi�t�. (c) Cowist�nt wiW tht r�ntal op�ration ot t!� nnits, tlf� ManMlw9 1y�nt ��all hav� th� riqht aea �uthosity to tak� po��salon o! �mit� for r�nt�l. 9. Aulw and R�9ulations. (a) No manb�s os occupant shsll pwt any adv�stis��nt, or post�st ol any kind in or on any part oi the condoo�inius prop�rty except u autAoris�d bp th� Associatioa. (b) Ovn�s� •nd oaonpaAti ihall �x�scis• s��ioaabl� car� to avotd yk- iny or p�ssittinq to b� m�de lo�M or obj�ctionabla noi�e�, and in winq or plsrinq m os p�r�lttin� to b� w�d or �1�rN, w�icsl iaststiayata, zadio�, phoao�s�phs.. t�l��i�ion a�Cs, uplifisr� sad �nr oth�s instruNnt� os d�viee• ia �nch isaNt�r a� eay di�tusb os t�nd to Cisturb wnsrs, tenants or occupanta o! oth�r condo- nlnituu unib. (e) It i• prohibit�d te hany qas�ent�, znqs, and othor ast�ri�ls lza� t,h� vindow� os iro� any of th� faeada of tho proioct. -7- . • . (E) It is prohibit�d to dw t sug� or oth�r matssial• lros th� vindars, or to cl�an ruq• by b�atinq on th� aat�sios part ot th� pzoj�et. (�) It is prohibiL�d to thsow qarbaq� or tza�h out�idt th� dispo�sl installation■ provid�d !or •uch purpo��s. (!) No wn�s, r��id�nt or 1�� hall ia�tall wisiaq tor �lktrical or t�lephon� install�tion, t�l�vi�ion antanea�. euahin�s os air oonditioninq uoit• on th� �xtuior ot !h� proi�at or th�t psotrud� throngh th� vall• or th� roof oi th� psoj�ct �xc�pt a• expr�s�ly authosis�d by th� As�ociatioa. (q) TAs Maraqinq 1►gent or if tlurs i■ ao ManaqSnq 11O�nt, th�a t1M eo�rd of Manaq�s� shall retain a pa��kry to �ach unit. No orn�s •h�ll albr a�y loak os ln�tall a n�w lock on aoy doos l�adinq iato th� nnit without �rzitt�a cotu�nt izon� th� Manaqiaq Aqsnt or eoasd o! Manaqars. (h) Th� Boasd oi Manaqers, pus�usnt to pazaqr�ph 3(b) o! Asticl� Iv ot theso 8ylav�, r��rvu eh� pov�r to ��tablish, wak� �nd �nfosc� ca�pliaaa� with •uch additional how� rul�� a� �ay b� a�cN�arr for th� op�satioa, uN and peeupancy of thi� coadaaiaium project with th� right to �nd sae� lroa tf.a� eo tis�. 10. Oestrnetion or Ob�olasc�ec�. Lach wa�z, upoa b�co.ing an own�r ot a con- doain un un t, th�r y qsant■ a pov�s ot •ttosa�y in i�wc o! th� Astociatioa, irs�voe�bly �ppointinq th� Asaociation a• attoreur-in-fact to d�al with el� own�r'• coaelaainium nait upon i b daaaq�, dastsuction or ob�ol�sa�nc�. 11RTZCLE XI TAUST DELD BENEFICIARIEB Condominiun unit o++nezs shall hava th� riqht to irz�vocably con�tiLnt� nnd appoint th� ben�tfciary of a tzust de�d thtir true and lawlul attora�y to vot� tt�ir unit m�mb�rship in this l�ssociatioa at any and •11 mNtiaqa ot th� 1►s�ociation and to v�st in tM b�n�ficiary any aad all riqhts, privii�q�� and pov�r� that ttt�y hav� aa unit ovn�rs und�s th� Grtiiicst� ot incorposation aad eyla`n o! this 1laaociatioa or by virtu� o! th� r�cozd�d Condosialum Dsclaration. Suc6 proxy •h+ll beoowe ellactiv� upon th� filinq oi notic� by th� b�a�ticias! wieh th� S�cz�tazy ot th� A��ociation at such tims or tim�� a� th� b�n�liciary shall d�aa it� s�euzity ia j�opardy by r�uon o! th� lailur�, neql�at or sefw�l ot th� J►wociation, th� Manaqiay Aqent or th� mit own�rr to cusp ont t�ir duti�• as s�t lorth in Ch� Condasiniuo D�elasation. 1► r�l�ai� ot th� b�n�fici- ary's d�sd o! trust ■h�il op�rat� to z�wk� •uch proxy. NotAiaq h�r�in eontain�d r!►ail b� constrnee to r�li�w oondosini� �it own�ss. a� �oseqaqor�, oi t!�!r datia� and obliqatioa� a� eondomialum unit am�ss or to 3mpos� upon tlf� b�nefi- ciasr of th� d��d o! tzust th� dutio and obliqations o! a unit ovn�s. ARTZCLL XII COI�LIJlLi1CL Tha�� Byla.+� ar� s�t torth to co�ly with th� reqnirwnt• o! th� 8tate o! Colorsdo Condaminiun O�m�s�hip Act. I! any o! th�s� Bylaw contlict with th� provision� ot •aid statui�, it is har�by nqreed and �ccepted that tha pso- vi�ions of the statut� will apply. AA?ICI.E XIII ItONFROIZT A&90CIATION This llisociation is not ozqanized for profit. tio m�bez, m�ub�r oi tha Board of Hanaqers, otlic�s or p�r�on fzom rhoa th� Association may r�ctiw any psop�rty oi frpiu shall z�c�iv� os shail b• lavtully �ntitl�d to rec�iv� any p�cuniary profit lroa th� ops�tion thereof, and iA no ewnt •hall any p�st of th� fund� os as�sts o! th� As�ociation b� paid �� salary or ca�p�n�atioa to. as distribut�d to, or inur� !o tM berufiL of any irber ot th� Board ot Nany�ss, oitieez or w�eY�si provid�d, hov�v�z, alw�y• (1) that r��aon�bl� eo�p�nia►.i� aNy be paid to any se�bos, man�g�r or oliic�r vhil� actinq ai an �qsnt or uplopa o! th� Associ�tion Eor s�rvict� r�nder�d in attecting oee os moz� of ths purpo��• oi the A9�ociation, and (2) thaL any m�ffiez, manaq�s, os olfic�s msy, tro� tia� r to tlN, b� r�iaeurs�d for hi• actwl and s�asonabl� exp�a�u incuss�d iw oen- nNliM wilh eh� �rl�lstzation ot tJi� aflairs of th� A��ociatioa, inalndin� att�Mana� at �tin�s. �zcrs xiv 0llICEAB AUTIIORIZED TO BIND A9SOCI1ITION Tb� p�ssoas who sh�ll b� •uthoris�d to es�cut� any �nd •11 contzacta, docreots, instruwut� ot conveyancet os ancua�brane�s, ineludinq promissory notas, �hall b� Lh• TrpiAMt �nd th� Secr�tary of th� Assoclatlon. -e- f • � • , ��C� � I�Tti1AiT]1TIOM MMa�v�r w�d h�r�in. unl�� th� eonbxt sQall otb�svi�� Psori¢�, t!a �iayrlas nu�b�s �hsll includ� th� plursl and tb� plusal �dali inalud� th� •inqtif- l�s. i!� e�o��asY ys�saeieal d�+a9M sp�►is�d to �a1a t!N pso►i�ioa� h�sw! app1r to andividwU. eorporation�, ot otA�s �Atiti��, a�n oz wown� �hall ia •11 ea�M b� a��urd u thouqb ia �ach cu� tully s�r�u�d. q1pN 11LL !dN !Y Tltif! PRESiMTB� Zh�t tb� uud�z�i9n�d Bsos�tarr oL t1� 11��ooiation do�s h�s�b71 c�stify th�t th� aboti and lor�qoiny erlaw� v�s� a,ur aae,pe.e by r�. d oi Nanay�s� oi �aia J►�soolation a� th� lylw� o! •ald 11a�ooi�tioa on Lb� � �y ot �r._�. 1973, .na ee►ac en.y ao now con�ti- tut� t!w BYlaw� ot sa Ju�ociat I► ?� . ` �lasr -9- � M � h • ADDENDUM TO BY LAWS OF MANOR VAIL CONDOMINIUM ASSOCIATION September 1, 1983: Article IV Board of Managers, Item 4. Election and Term of Office: Eligibility to serve on the Board of Managers shall be such that no person can be nominated for Board membership if he/she is serving, or having served two (2) consecutive full terms on the Board of Managers at the time immediately prior to his/her nomination. March 2, 1984: Article N Board of Managers, Item 1. Number and Qualification: The Board of Managers of Manor Vail Condominium Association shall consist of a minimum of ten (10 members and a maximum of fifteen (15). August 31, 1990: Article X, Obligation of Owners, Item 6. Use of Units - Internal Changes: . , . . The Association shall have the obligation to answer an owner's request within thi days after such notice, and failure to do so within such time shall mean that ther� is no objection to the proposed modifications or alteration. Article IV Board of Managers, Item 1, Number and Qualification: The size of the Board of Managers shall be between seven (7) and ten (10) members. 11 � � M • • G A CC� UNTIN N FORI�VIA TIO IN �:. f � r a TABLE OF CONTENTS Monthly Dues 1 Expenses and Deductions by Manor Vail 1 Owner's Expense - When a guest of owner occupies the unit 2 Maid Service 2 Extra person Charges Z Real Estate and Personal Property Taxes 3 Homeowner's Insurance 3 Owner Statement Explanation 4 1 : �' � + � w . MONTHLY DUES The monthly dues consist of two components: STUDIOS MANOR HOUSES DUES* 575.00 1150.00 RESERVE 75.00 150.00 TOTAL 650.00 1300.00 *SUBJECT TO CHANGE BY Board of Managers. The Reserve Is accumulated at the direction of the Board of Managers to pay for major repair and maintenance projects of the Association's common elements (i.e., boilers, parking area resurfacing, etc.). The Dues are used to cover Association operating expenses for common area maintenance and utilities, the Association's share of administrative, housekeeping, and front desk expenses. OWNER REVENUE AND EXPENSE ACCOUNT Each owner's revenue is accounted for separately. The Board of Managers establishes rental rates and a rate schedule is available to each owner. ,. A sample of an owner's statement is attached along with an explanation of each statement. EXPENSES AND DEDUC'�I4NS BY MANOR VAIL RESORT RETENTION: Percentage of gross rental revenue retained by the Association as approved from time to time by the Board of Managers. For rental and service to the unit, depends on rating of the unit. ELECTRICITY: Direct meter billing. This appears on your monthly statement. _ OTHER CHARGES: Direct bill charges may be rendered in accordance with the policy established at the September 5, 1981, Board of Manager's meeting. Capital improvement items will be announced and approved by the Board of Managers, but any capital expenditures, when deemed to be in the best interest of 2 } � A the Association, will be charged and billed directly to the owners. Special Assessments and year end shortfall assessments will be billed to the owners as directed by the Board of Managers. QWNER'S EXPENSE - WHEN A GUEST OF OWNER OCCUPIES THE UNIT Guest of owners may use an owners unit for thirty days each calendar year without charge. The occupancy charge for Guest of Owners over thirty days is 35°lb of the existing "rack rate" plus the prevailing sales tax rate per day. All owner-guest rates will be billed directly to the owners. MAID SERVICE Checkout maid service is �30.00 per studio, $60.00 per Manor House. Owners should contact the Executive Housekeeper (x6107) should they desire maid service during their stay. Additional maid service charges will be incurred when service is requested during your stay. At checkout, if a unit requires more than average service to prepare for the next arrival, an additional charge of$25.00 per hour will be applied. EXTRA PERSON CHARGES Sometimes to accommodate the needs of our guests, extra people may stay in a unit. The following charges are applicable when rental occupancy exceeds the maximum number. UNTT/USAGE MAXIMlJM NUMBER OF CHARGE FOR EACH PEOPLE ADDITIONAL PERSON Studio/Owner-Guest Usage 4 S 10 per night (May-Nov) $25 r ni ht - A ril Studio/Ovmer U 6 Same as Above Manor HouselOwna-Guest 6 Same as Above U e Manor Hou9a/Own�r U e 8 Same as Above 3 � � • . REAL ESTATE AND PERSONAL PROPERTY TAXES Real Estate and Personal property Taxes are the direct responsibility of the owner. There is a small common area property tax assessment. HOMEOWNERS INSURANCE A general fire insurance and general liability policy is provided by Manor Vail Condominium Association; the cost of this policy is assessed monthly. Upon request, a Certificate of Coverage can be provided for your personal files, or for your mortgage company. This policy does not cover the contents of your unit. The personal property in a unit is the responsibility of each individual owner. Recommended coverage for rental units is an HO-6 with an HO 1733 endorsement. The company that binds coverage for Manor Vail Condominium Association liability insurance offers a policy that will cover personal property of an owner that is not covered under the Association's liability policy. For additional information on this type of coverage please contact the Director of Owner Services. � �' 4 � � • . .. . � OWNER STATEMENT EXPLANATION 1. The heading contains the owner name, address, unit number, month ending date, Manor Vail Resort address, and statement date. 2. The income section contains the reservation number, name (if it is an owner or owner guest), date of stay, unit number, market segment (for internal marketing purposes), arrival and departure dates, revenue from that stay and the corresponding association retention. 3. The summary section itemizes the charges and payments for the month and year to date (since January 1). The detailed charges will be attached to the statement except for the following: electricity, dues, and assessments. List� below are some of the common entries. OPENING BALANCE - shows the balance of your account as of last month end. CABLE - Annual cable assessment. CASH - Payments made to owners COMMIS - The percentage retained on each rental to be applied to rental expenses, wf�ich equal t�ie total Association Commission from above. CONDOD/CONDOS - The monthly dues to pay for association expenses. ELECT - The monthly electric bill for your unit. INCOME - Shows the total income for the current month and year-to date. This gross rental income is considered to be taxable at year-end. You will receive a 1099 reflecting this amount in January. INSASS - Annual assessment for owners share of association property insurance. MTCINV - Charges for maintenance done in the unit, including materials. �' 5 � � � ti • ' OAXFD - In-house charges incurred by an owner or owner's guest such as cleaning, restaurant charges, and any owner payments made by credit card. PROP - Your portion of the annual association property tax. 4. The statement closes with a summary of occupied nights. These nights are for the month and year to date. Occupied nights for a manor house will combine the nights for each unit. To calculate the average occupancy for the entire manor house unit you need to divide it by the number of separate units that are in the rental program, typically three (3). The market segments are self explanatory except the following: NON-CONFERENC group stay non-conference CONFERENCE group stay with conference OTHER all other categories not listed IT IS EXTREMELY IMPORTAN'r THAT YOU RETAIN EACH MONTHLY STATEMENT FOR YOUR TAX FILES. 6 � • . . ES HDUSERUL � � � � � � • . ,- . � TABLE OF CONTFNTS 1 ARRIVAL AND DEPARTURES 1 CONTACT OF THE GUEST 1 r�.AIN'I'F1�IANCE FF.E.S 1 OWNER'S CLOSET KEYS 1 PARCEi.HANDLING 2 PARI�NG 2 REFURBISHING, REDECORA'TII�TG, REMODELING 2 RESERVATION POLICIES AND PROCEDURES 3 RESOLUT'ION OF CONTROVERSIES, DISPUTES OF QUESTIONS 4 RIGHT OF REFUSAL AND TRANSFER FEE 8 SALFS OF UNITS 8 UPGRADING UNTTS 8 H:�SARA\WP�OWNERS\HANDDOOKIHRRULES-upd�ted Ju104.DOC � . • . . � House Rules The Board of Managers, pursuant to paragraph 3(b) of Article N of the By-laws, reserves the power to establish, make and enforce compliance with such additional house rules as may be necessary for the operation, use and occupancy of this condomitium project with the right to amend same from time to time. AII amenities offered at Manor Vail Resort are for the enjoyment of the owner as well as the guest. We wrrendy have two heate� swimming pools, two whirlpools, two non-coed saunas, and a limited eacercise room. ARRNAi. ATTD nRPART[IRFS During the winter season guaranteed check-in time is 5:00 p.m. and checkout time is 11:00 a.m. During the summer season check-in time is 4:00 p.m. and checkout time is 12:00 noon. These times have been set to allow the Housekeeping Department sufficient time to ready the unit for the arriving guest. All owners are required to check in and out with the Front Desk. For security reasons it is necessary that we know whether or not people are authorized to be in a unit and in case of an emergency it is imperative that we know which units are occupied so that authorities can be notified, occupancy can be verified, and units can be evacuated. C'nNTA['T nF THF CiITFST Since we operate the rental program much as a hotel and must abide by the "Accommodation Laws of Cdorado", contacting guests could subject the Association to costly legal problems. The owners � of condominiums do not have the right to contact guests. Owners and/or their representatives may not enter their units if their units are rented. Owners may contact management and management will attempt to gain permission from the guests. If permission is denied entry cannot be ganted. Other than information voluntarily left in an owner's guest book, we have a firm policy not to give out names, addresses, or tdeghone numb�rs of guests or owners for any reason. MAiNTFNAN[:F FRFS The current maintenance charge is $25.00 per hour. When purchases of appliances, equipment, fiunishing�, etc. are made, you will be invdced ai cost plus freight and tax and a ten percent(10'/0) handling charge for the p�rchases that are made. Special contract cleaning, carpets, furniture, etc., will be billed per unit. AIl it�ns or repairs, which affeet rentability, and not excee�ing S250.00, will be done without prior approval from the owner. Items or repairs eacceeding $250.00 will require awner notification. � �;, 1 ._� . . . _. � • . ,. . � nWNFR4 (:i.nSF.T KFY4 b The owner's closet keys will be given to owners only. This is for the protection of every owner. If you wish to make arrangements for a guest, or another family member to have this key, please notify our Reservations Departrnent at the time you reserve the unit. The key will then be given to your guest upon check-in. PAR(`FT.NAT1ni.TN['T Manor Vail staff will be glad to handle sending of parcels for you during your stay. You will be billed on your owner's account. PARKiNC't The parlcing facilities are for owners and registered guests or�y. This will be strictly enforced. Manor Vail Resort cann� provide daily parking for local�, friende, etc. Please do not encourage locals to park at Manor Vail Resort. There is no assigned parking. RFFiTRRiSHiNC*, RF17F['nRATiN('� RFII�(�nFT iT`T� All refurbishing, redecorating, or remodeling should be coordinated with the Owners' Coordinat�. This is necessary in order to insure that all guidelines and rules for remodeling are completed prior to the start of construction. Uniform standards for all remodeling at Manor Vail will insure that all units and buildings are protected from unwarranted and unsafe construction and that access can be 8ranted to authorized parties. Management and Staff are available to advise and assist in any way possible. All refiubishing, redecorating or remodeling should be done during late April through June lst, and September lst through mid-November, with consideration to confirmed rentals. In a constant effort to improve the relationships involved where remodeling or redecorating are concerned, the following policies and procedures will apply: All owners who will be remodeling or redecorating must follow the Guidelines and Rules for Project Approval and compiete a Remodel Construction Policy Ageement. This information will be provided to the owner by the Owner's Coordinator. Any expenscs(food and beverage charge�, long distance telephone charg�a, etc) incurred by decorators, contractors or sub-contractors will be charged to the owner's account. All contractors are responsible for maintaining the cleanliness of the hallways and stairw�lls, wfiich access the unit they are woricing on and assuring they are kept in a safe condition at all times.. �;, , . . - . ;�, . .. �. :� �.�,�_.. ; 2 �` � � , ' . ,. , . . RRSFRVATinN Pni.T[:TFS AND PR(X'FDiTRF4 1. All reservations booked and deposited will be honored, even those committed to prior to your ownership of the unit. Z. In an effort to reduce increasing overall reservation costs, as well as adhere to our strict policy of equality, ovmer/owner gue�reseayations will only be taken from the ovmer of the unit (one designated owner only). A Reservation Authority Form is requested and only one person may have reservation authority. 3. Under Manor Vail Resort's concept, policies, By-laws, and Declaration, no separate rental agreements may be initiated by individual owners. Manor Vail Resort does nat have individual rental agreements. 4. The Reservation Department is open from 8:00 a.m. to 5:00 p.m. daily. Only personnel in this department have the authority to confirm boolcings. Yow cooperation in placing calls to our office during normal business hours insures prompt, accurate answers to your questions, and less chance of any misunderstanding. 1. AIl reservations ate confirmed in writing within 10 days of the reservation being made. Should you not receive a written confirmation, or if you find conflicts in the dates that we COtlfi[m, nlea . nn ar.t i�c t nncp, 3 � � � 1s 1 ♦ • KE.Sni.iTTTnN nF (:(�NTRnt�R4TFS, i�i4Pi1'TF4 nF ni1F4Ti()NC Manor Vail Condominium Association adopted a resolution on September l, 1974, to determine and resolve any controversies, disputes or questions arising between owners, or between owners and the Association. Any controversy, dispute or question (hereinafter the "matter") arising between owners or betwcen owners and the Association relating to the interpretation, performance or non- performance, violation or breach of the Association's Declaration, Articles of Incorporation, By- Laws, or Rules and Regulations by any owner shall be subject to a hearing and determination by the Manor Vail Tribunal in accordance with the following procedures. The determinations, orders, and discipline imposed by the Tribunal shall be binding upon all owners who are parties to the hearing. The Association shall be entitled to have its representative participate in each hearing to present evidence on the issues. No owner shall be entitled to resort to the Courts for determination of any such controversy, dispute or question until he has exhausted all of his remedies as provided herein. (a) Those procedures shall be liberally construed to affect the purpo9e of just, speedy and inexpensive resolution of differences between ovmers and between owners and the Association concerning the ownership, use and enjoyment of condominium utits at Manor Vail, a condominium. Unless displaced by the following proce�ures, the principles of law and equity, and 4 the rules of civil procedure governing the Courts of Colorado shall supplement these provisions. (b) The tribunal shall have three members who shall be the President, vce President, and Secretgry of the Board of Managers of the Association. The Tribunal shall receive notices and other mail concerning the matter at the offices of the Association. The Managing Agent of the Association shall perform administrative duties of the Tribunal, such as preparing, typing, mailing, and filing notices, receiving written evidence from any puty for the Tribwtsl, �athering evidence and investigating facts and oth�r similar administrative dutics. The Tribunal shall be empowered to retain an Attorney to advise it in all m�tters concerning the hearing on questions of procedures and interpretations of the Declaration, Ardcles of Incorporation, By-Laws, Rules and Regulations of the A�ociation, or other questions. (c) The President of the Hoard of Managers of the Association shall serve as Chairman of the Tribunal. The Tribunal shall have and exercise the power to re�late ail proceedings in every hearing. It shall fix the time and place for be�inning and closing the hearings with due regard for the convenience of the parties and witnessec. It shall rule upon the admissibility of evidence, and shall �` 4 .. �.. _ ,_ � _.,,. � �' � r � ^► i• • • place witnesses upon oath, and may itself examine them, and may call the parties to the matter and examine them upon oath. (d) Any owners, the Board of Managers, or the Managing Agent shall be authorized to invoke the jurisdiction of the Tribunal in any proper mattsr by filing written notice thereof with the Tribunal. The written notice shall generally describe the controve,rsy; dispute or question, together with such detailed factual information as is ne��essarY to a clear presentation of the matter. The written notice may be based on either first hand observations or hearsay. Oral notices of such matters shall not be acted upon by the Tribunal. (e) Af�- receipt of written notice of any matter which the Tribunal, in its sole discretion, determines presents a matter within its jurisdicaon, the Tribunal, within twenty days thereafter, shall provide the owner or owners as to whom the matter has arisen with a copy of the written notice by registered or certified mail, return receipt re�uested, mailed postage prepaid to the address last provided to the Association by such parties, and to any other address or addresses where the Association has information that the parties may receive mail. The notice to the parties shall also include written notice from the Tribunal of the time scheduled for a hearing of the matter, which shall be not less than forty days after the time; the Tribunal sends written notice to the parties concerne�. The party filing the original written notice of the matter may ask the Tribunal to dismiss any proceeding at any time before the hearing, but the request must be in writing filed with the Tribunal. The Tribunal shall not dismiss the matter if any other party thereto objects in writing, and shall have the discretion to hold the hearing despite the request for di�nissal. The Tribunal shall be empowered to grant continuances of the hearing, upon its-own motion or at the request of a party for good cau�es, in its sole discretion, provided each party and knovm wifiess receives adequate notice of continuance and rescheduled hearing date. (� At the hearing or before, the parties may present written evidence in their behalf to the Tribunal. The party presenting such written evidence shall provide copies thereof to each other party. Except for the rules of materiality and relevance, formal rules of evidence shall not apply at the hearing. The rule of materiality means that to be admissible evidence must concern the matter in dispute, or an elema�t, which it is necessa�y to establish in order to decide the matt�r. The rule of relevancy means that to be admissible, evidence must relate to the subject matter of the hearing. The parties shall have the opportunity to present oral or written evidence, including witnesses on their behalf, and the opportunity to confror�t and cross-examine adverse wifiesses. All witnesses shall be eacamined upon oath which shall be administered by the Tribunal, any party to the proceeding shall be entided, if he chooses, to be represented by .S � � � a „ . . counsel or other persons. The Chairman of the Tribunal shall preside over the hearing, and the Secretary or another person designated by the Tribunal shall keep a summary of the evidence presented and shail prepare a written record of the hearing by summarizing the evidence presented by all parties and attaching thereto all of the written evidence which is submitted at the hearing. (g) Sworn dep�sitions or parts thereof shall be admissibie into evidence even though the person deposed is not present at the hearing to be cross-examined, provided the fdlowing procedwes are fdlowerl: i. The person taking the deposition of a witness or of an adverse party shall give the Tribunal and all adverse parties written notice of the taldng of the deposition not less than five days in advance, stating the time and place of the deposition and the right of all other parties to attend or to be represented at the deposition. The place where the deposition is taken shall be reasonably convenient to the person to be deposed with any question as to such convenience to be determined by the Tribunal. ii. Depositions shall be taken on oath before a court reporter and shall be verified by the court reporter. (h) Any party may serve upon any other party written interrogatories to be answered by the party served, or if the party served is a corporation partnership or any association, by an offcer or agent, who shall furnish such information as is available to the party. Each interrogatory shall be answered separately and fully in writing w�der oath. Interrogatories may relate to any matter relevant to the subject matter of the hearing, and the answers may be used to the extent permitted by the Tribunal's rules of evidence. ff a party, or an officer or agent for a party fails or refuses to answer questions pursuant to a properly scheduled deposition or a written int�togatory, the Tribunal may (1) order that the facts to be proved by a detailed list of que�tions prepared for the deposition or by the written interrogatories shall be taicon to be established for the purposes of the hearing in accordance with the claim of the party presenting the questions; (2) rule that the refusing party has the burden �f'proving at the hearing that the facts to be proved by the questions are not true; (3) prohibit the refusing party from introducing designated matters at the hearing; (4) stop further proceedings until the questions are answered or dismist the proceedir� or rendet a determination by default against the refusing party; (S) assess the costs of proving the facts against the refusing party, including reasonable costs of investigation and attorney fees. (i) At the condu�on of the hearing, the Tribunal sha11 either reserve its determination to a later time, or shall announce its determination orally. In � � � ,} � � , � 's �.• � � ( , 1 either event, the determination shall be reduced to a written statement describing the Tribunal's findings of fact and conclusions regarding the matter. Copies of the determination shail be provided to all the paraes to the hearing, and another copy shall be kept in the Association offices together with the summarized transcript and all written evidence, which was submitted. The file of all determinations shall be available to all owners during normal business hours. An announcement of the determination sha11 be made to all members. No determination of the Tribunal shall be considered final unless the vote of all the members of the Tribunal ia unanimous in suppcx�t of that deteimination. If the vote in not unanimous, the final determination shall be made by majority vote of the Board of Managers of Manor Vail Condominium Association, at a regular or speaal mceting of the Board, which decision shall be based upon a review of the summarized record and writte,n evidence presented to the Tribunal. (j) The Tribunal shall be authorized to enter determinations, which impose apPropriate discipline in accordance with the Declarations, Articles, By-laws, and the Rules and Regulations of the Association, or which modify or relieve di9cipline already imposed in accordance with the foregang authorities. The discipline imposed may be enforced by the Association pursuant to its powers in the foregoing authorities. (k) Appeals from a final determination may be made to the entire membership of Manor Vail Condominium Association, at a regular or specia! meeting of the membership, and shall be based upon a review of the summarized record and written evidence presented to the Tribunal. The Chairman of the Association meeting shall select the form of presenting the summarized record and written evidence, and may elect to have it read or to have a short oral �ummary made on behalf of each disputing party or by a representative of the Association. Unless two-third of the vot�s of the entire membership vote to reverse or amend the determination appeal to it, the determination shall stand and shall be a final determination, which shall bind the parties. (1) In the event the results of any controversy, dispute or question are resolved in favor of the association and against the ovmer or ovmers, or in a di'spute between owners, the unsuccessful owner or owners shall be responsible for the Association's legal fee� incurred, out-of-pocket costs of the prevailing party, costs incurred by the Boord of Managers and a reasonabie fee for the time spent by the Manager and his � ; Ri('rHT nF RFFiI.�Ai. ANl] TRAN4FFR FFF x The Association wi11 assess a transfer and refusai fee of 5200.00 per studio and $400.00 per Manor 7 � � � � � i � .. House, to be paid by the existing member of the Association at the time of the change in ownership. This fee will cover a11 direct and indirect costs the Association absorbs, including the notice to all ovmers and the "Certificate of compliance" that the refusal process was completed. SAi.R nF TTNiTC Ovmers wHo have their utits available for sale should notify Manor Vail management of the lisang agent and when the listing expires. This is to protect you and your unit from unauthorized access. 1. If the unit listed is a rental unit, we will ask the sales peop�e to sign in and out at the Front Desk. Brokers and Broker Associates should arrange their appointments with the pwner's Coordinator. 2. If the unit listed is a non-rental unit, sales people should still coordinate appoints with the Owner's Co�dinator; but we will be able to be a bit more flexible in showing times. 3. The existing member of the Association at the time of change of ownership will be responsible for the Transfer and Refusal fee. 4• �Y SPecial Assessments will be the responsibility of the owner of record at the time the t assessment is made. 5• Anticipated annual shortfall assessments in either the Association or the rental program wi11 � be prorated and will be collected from seller for his portion of the annualized year at the time of closing. r��R annv�t T nvrr� From time to time the Board of Managers will authorize an imparaal review of units with recommendations and re�uirements for upgrading as oudined in the by-laws of the Association, ff the condition of a unit is such that it is adversely affeccting rentals, imme�iate steps will be taken to imprwe the unit and bring it up to standards, ff the unit is not brought up to standard within a specific time, management, at the dircction of the goard of Managers, as authorized in Arbcle � Paragraph 3 of the By Laws can either: 1) Remove the unit from rental availability, or � Z) Caux the n�cess�ry work to be done and bill the owner. � � � � � � � � � �` � � S � � � � € � i � �