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TC Ord 08 1981 - Amd of Ord 8, 1980 (S'mass Club PUD) to allow sale of Club Villas PMH Units 202 & 204 as unrestricted units - SIGNED.pdfTOWNOFSNOWMASSVILLAGE TOWNCOUNCIL ORDINANCENO. 8 SERIESOF1981 ANORDINANCEAMENDINGORDINANCENO. 8, SERIESOF1980, SNOWMASSCLUB PUD) TOALLOWTHESALEOFCLUBVILLASPMHUNITSASUNRESTRICTEDUNITS, TOCHANGETHEPACEANDTYPEOFPMHUNITSTOBECONSTRUCTEDIN1981, TO CHANGETHEPROVISIONSRELATEDTOPURCHASEPRICEOFPMHUNITS, ANDTO ESTABLISHTHEPROCEDUREFORFUTUREAMENDMENTSTOTHEPMHPROGRAM. WHEREAS, theTownofSnowmassVillage, ColoradoHousingAuthority hasrecommendedcertainamendmentstotheSnowmassClubPUDasmore particularlysetforthinHousingAuthorityResolutionsNos. 1and2, Seriesof1981; and WHEREAS, theTownCouncilreviewedtherecommendationswiththe SnowmassCompanyLtd. Company) andhaddeterminedsuchamendmentsare inthepublicinterestandshouldbeadoptedtogetherwithotheramend- mentsasmoreparticularlysetforthbelow. NOWTHEREFOREBEITORDAINEDbytheTownCounciloftheTownof SnowmassVillage, Colorado. SectionOne ThatOrdinanceNo. 8, Seriesof1980, SnowmassClub PUD) isherebyasfollows: a. Thatparagraphi) 3ofSection3isherebyamendedby reducingthenumberandtypeofrestrictedunitstobeconstructedin 1981asfollows: 1. VillasEastarereducedfrom30to0. 2. CountryClubHomesarereducedfrom9to5. 3. ClubVillasarereducedfrom8to0. Providedhoweverthatthereductioninthe1981requirementshallnot reducethetotalnumberofunitstobeultimatelyconstructedwithin theSnowmassClubPUD, assetforthinparagraphi) 2ofSection3. b. Thatparagraph (i) 4ofSection3isamendedtoread: i) 4. Purchasepriceandrentalrates. Thepurchase priceforrestrictedcondominiaandrentalrateforthelongtermre- strictedrentalunitsshallbedeterminedonabasistoallowtheCom- panyto "breakeven" bychargingtoeachrestrictedprojectonlythe directandapprovedallocateddevelopmentcosts. TheCompanywill contributethelandforrestrictedcondominiaatnocostandwilllease landfortherestrictedrentalunitsatonedollarperyearforone hundredyears, exceptthat, intheeventthattheloanguaranteere- ferredtoinsubparagraphi) 6belowisnotrequired, theCompany shallcontributethelandforrestrictedrentalunitsatnocost, as well. C. ThatSection3 i) isamendedbytheadditionofanew paragraph3 i) 9toreadasfollows: Section3 i) 9. TheprovisionsofthePMHandemployee housingsectionofthisPUDordinancetogetherwiththePUDmapapproved therebymaybeamendedfromtimetotimebyresolutionoftheTown Council, followingpublichearingthereonforwhichatleastthirty 30) dayspublicnoticehasbeengiven, anduponwrittenconsentofthe Company, providedthatnosuchamendmentdecreasesthetotalnumberof ofunitsthattheCompanyisresponsiblefortoprovide. Suchamend- mentsshallbelimitedtochangeinpace, unittypeandmix, loca- tion, methodofsaleorrental, theallowablecost, salepriceor rentalratesoftheunitsandmattersrelatingtodispositionof restrictedunitswhichremainunsoldtoqualifiedPMHpurchasers. d. ThatthePUDmapapprovedbyOrdinanceNo. 8, Series of1980,isamendedtoreflecttheaboveamendmentstothetextofsaid Ordinance. SectionTwo SaleofRestrictedUnitswithoutRestriction. a. TheCompanyisherebyauthorizedtoconveyClubVillas Units202and204, andsuchotherrestrictedunitsastheBoardof CommissionersoftheTownofSnowmassVillageHousingAuthoritymaydetermineasunrestrictedfreemarket) unitswithoutthenormalPMH restriction. Inaddition, suchunitsshallnotbesubjecttoanyren-talrestrictions. b. Uponthesaleofsuchunits, theHousingAuthorityshall beentitledtoreceiveallproceedsoverandabovethedirectandal- locateddevelopmentcostsoftheparticularunit, aspreviouslyestab- ished, and &.losingcostsincludingarealestatecommissionnotto exceed3% ofthesaleprice. SectionThree 1981PMHProgram a. TheCompanyshallconstruct, onaspeculativebasis, five5) CountryClubHomesTownhousesforsaletoqualifiedPMHpur- chasers. Thefloorplan, location, saleprice, andmethodofsaleshall beapprovedbytheHousingAuthority. TheCompanyshalldevelopplans toconstructoneortwoclustersoffourorfiveadditionaltownhouse unitstobeofferedforsalepursuanttoanapprovedpre -saleprogram priortoconstructionandshallexplorewiththeHousingAuthority alternativesindesigntoreducethecostoffuturePMHhousingpro- jectstobeconstructedintheSnowmassClubPUD. TheCompanyshall alsoprepareforHousingAuthorityreviewalternativeplansforthe VillasEastandAndersonRanchsitesforimplementationin1981or1982. INTRODUCED, READANDADOPTEDONFIRSTREADINGbytheTownCouncil oftheTownofSnowmassVillage, Colorado, this 2nd dayofFebruary 1981, byavoteof 6 to 0 CouncilmemberRogersabsent. INTRODUCED, READANDADOPTEDONSECONDREADINGbytheTownCouncil oftheTownofSnowmassVillage, Colorado, this dayof 1981, byavoteof to TOWNOFSNOW14ASSVILLAGE, COLORADO By: RobertA. Kevan, Mayor ATTEST: NOTE TabledindefinitelyonApril6, 1981. SusanS. Hansen, TownClerk EXRIBITA. LegalDescription TimberlineEmployeeHousingandConferencefacility AparceloflandbeingpartofTract45, Section2 Township10South., Range86Westofthe6''thPrincipalMeridian andlyingwithintheboundariesoftheTownofSnowmassVillage, Colorado, Saidparcelismore. fullydescribedasfollows; BeginningatapointwhencetheSoutheastcornerof saidSection2bearsS2204'10" E, 1594.60ft.;thenceS3020'18" W, 995.98ft. andN59039'42" W, 366.49 ft. tothetruepointofbeginning; thenceN8510'42" W, 53.61ft. alongLotBoundary; thenceN34051'00" E, 273.68ft. alongLotBoundary;thenceS5939'42" E, 66.76ft. alongLotBoundary; thenceS30020'18" W, 129.30ft.; thenceS59E, 19.00ft.; thenceS3020'18" W, 49.00ft.; thenceS59E, 11.50ft.; thenceS3020'18" W, 37,83ft. totheLotBoundary andCarriageWayright -of-way. ThenceN85W', 78.02ft. alongtheLotBoundaryto thetruepointofbeginning. Saidparcelcontains0.4958acres moreorless. CallsarebasedonStateGrid. EMPLOYEEHOUSING GROUNDLEASE TIMBERLINECONDOMINIUMASSOCIATION Thisleaseisenteredintothe 6 ;th dayof August 1981 betweentheTownofSnowmassVillage, Colorado, aColoradoMunicipal Corporation, andtheTimberlineCondominiumAssociation, Inc, aColorado Corporation. WHEREAS, theTownofSnowmassVillage, Colorado, the "Town is theownerofacertainparcelofpropertylocatedintheTownofSnowmass Village, PitkinCounty, Colorado, asmoreparticularlydescribedin Exhibit "A and, WHEREAS, theTimberlineCondominiumAssociation, Inc. Timberline) desirestoleasesuchpropertyinordertoconstructahousingproject forqualifiedemployeesasdefinedbytheTownofSnowmassVillageHousing Authorityregulations, withprioritygiventoqualifiedemployeesof Timberline, togetherwithmeetingroomandstoragespace; and WHEREAS, theTowniswillingtoleasethepropertytoTimberline subjecttothetermsandconditionsofthislease. NOW, THEREFORE, theTownandTimberlineagreeasfollows: I. Conveyance; Term; Rental. 1.1. TheTownleasestoTimberlinethepropertydescribedin Exhibit "A hereinafterreferredtoas theProperty togetherwith allrightsappurtenantthereto, andsubjecttoallrightsandeasements nowofrecord, andsubjecttotheconditionscontainedherein. 1.2 Thetermofthisleasecommencesasoftheeffectivedate statedabove, andshallterminateJanuary1, 2016. 1.3 Timberlineshallpayrentannually, inadvance, commencing onthefirstdayofJanuary, 1981, andeachJanuary1stthereafter duringthetermofthisleaseandanyextension. TherentdueJanuary 1, 1981, shallbeOne ($1.00) Dollar. Thereafter, therentshallbe equaltoForty ($.40) Centsper,squarefootofheatedspacethatisnot actuallyutilizedasemployeehousing, asshownontheapprovedconstruction plansandspecifications,plusanamountequalto4% ofthepreviousyear's rentplusOne ($1.00) Dollar, provided, however, thattherentbasedon squarefootageshallnotcommenceuntilacertificateofoccupancyforthe improvementshasbeenissuedbytheTown. Inaddition, Timberlineshall beliabletopaywhendueallpublicandprivateassessmentsonthe propertyandanyrealpropertytaxeswhichmaybeassessedontheimprovements. TheTownshallapplytoPitkinCountyforanexemptionfromrealproperty taxesforthoseimprovementsdirectlyrelatedtoemployeehousing. II. ConstructionofImprovements 2.1. Timberlinewillcausesix (6) housingunitstobe constructedontheproperty. Such :structureshallbeconstructedaccording toplansandspecificationsandtimetablestobeapprovedbytheTown. Nosubstantialchangesinspecifications, plansortimetable maybe madewithoutthepriorwrittenapprovaloftheTownwhichapprovalshall notbeunreasonablywithheld. Inconjunctionwiththeconstructionofthe housingunits, Timberlineintendstoconstructameeting roomorroomsand storagespace. SuchfacilitiesshallbeusedprimarilybyTimberline foritsownpurposes. Themeetingroomorroomsshallbemadeavailable totheTown, othercondominiumassociations, SnowmassResortAssociation oranyothergroupororganizationona "spaceavailable" basisfor a reasonablecharge. Timberlineshallprepareandsubmitarentalprogram totheTownfortheTown'sapprovalpriortoanyrentalofsuchmeeting roomorrooms. 2.2. Timberlinewilluseitsbesteffortstocausethecompletion ofsuchconstructionnolaterthanJune1, 1982. 2.3 Allconstruction expensesrelatedtotheproperty, includingwithoutlimitation, landscaping, pavingandonsiteandoff siteexpensestoprovideutilityservicestothepropertyshallbethe soleresponsibilityofTimberline. III. FinancingofConstruction. 3.1 Timberlineshallbesolelyresponsibleforarranging financingfortheabovedescribedimprovements. TheTownunderstands thatsuchfinancingmaybesecured, amongotherthings, byamortgage or deedoftrustontheimprovementstobeconstructedontheproperty. The Townagreestosubordinateitsinterestinsuchimprovementsandinthis leasetosuchmortgageordeedoftrustprovided, however, thatthe use restrictionscontainedinSectionVIshallbebindinguponanysecured partyandthatthescheduleofrepaymentprovidesforpaymentinfullof allprincipalandinterestnolaterthanJanuary1, 2016. Theindebtedness towhichtheTownagreestosubordinateshallnotexceedtheactualcost ofconstructingsuchimprovements. 3.2 TheTownwillcooperatewithTimberlineinsecuringtax exemptfinancingatTimberline'srequest. IV. ProjectRentals. 4.1Timberlineshallleasethehousingunitstoqualifiedemployees, asdefinedbytheTownofSnowmassVillageHousingAuthorityregulations. No suchleaseshallbemadeuntilthetenantandtheformandcontentof theleasehavebeenapprovedbysaidHousingAuthority. Unitsshallbe rentedfirsttoqualifiedemployeesofTimberlineandsecondtoany otherqualifiedemployees. 4.2 Therentalratetobechargedtooccupantsofhousingunits nomre thanshallbeaeaeaaanamountsufficienttosatisfytherequirementsofany indebtednesssecuredbythemortgageordeedoftrustreferredtoin paragraph3.1, togetherwiththeunit'sproportionateallocableshareof a) directoperatingcostsfortheproperty, b) areasonablereservefor refurbishment, repainting, maintenanceandrepairand (c) areasonable managementfeeifapplicable. V. Indemnity; Insurance. 5.1. Timberlineagreestodefend, indemnifyandholdtheTown harmlessagainstanyandalldemands, claims, causesofactionorjudgments, andanyandallexpenses, includingattorneysfees, incurredininvestigating, resisting, ordefendingagainstthesameforinjurytoperson, lossof life, ordamagetopropertyoccuringduringthetermofthisleaseonor abouttheproperty. 5.2. Duringthetermofthislease, Timberlinewillcauseto bemaintainedcomprehensivegeneralliabilityinsurance, including medicalpaymentsinsurance, inanamountandwithacompanyreasonably determinedfromtimetotimebytheTown, foralloccurrencescommonly insuredagainstfordeath, bodilyinjuryorpropertydamagearisingout oforinconnectionwiththeuseofthepropertyandtheimprovements thereon. TheTownshallbenamedaco- insuredundersuchpolicy, which shallalsoprovidethatitmaynotbecancelledorsubstantiallymodified adverslytotheprotectionoftheTownwithoutthirty (30) daysprior writtennoticetotheTown. 5.3. Duringthetermofthislease, Timberlinewillcauseto bemaintainedpropertyinsuranceontheimprovementsinsuringagainst allrisksofdirectphysicallosscommonlyinsuredagainst. Thetotal amountofinsuranceafterapplicationofanydeductiblesshallnotbe lessthanninety (90 percentofthereplacementvalueoftheinsured property, inclusiveoffoundations. TheTownshallbenamedcoinsured undersuchpolicy, whichshallalsoprovidethatitmaynotbecancelled orsubstantiallymodifiedadverslytotheprotectionoftheTownwithout thirty (30) dayspriorwrittennoticetotheTown. Ifavailable, such insurancepolicyshallprovidethat: a) Theinsurerwaivesitsrighttosubrogationunderthe m policyagainsttheTown, b) NoactorommissionbytheTown, Timberlineoranysublessee, tenantinpossessionorguestwillvoidthepolicy, orbeaconditionto recoveryunderthepolicy, c) Ifatthetimeoflossunderthepolicythereisother insuranceinthenameoftheTown, Timberline, anysublessee, tenantin possessionorguestconcerningthesamepropertycoveredbythepolicy, thepolicyisprimaryinsurancenotcontributingwiththeotherinsurance. 5.4 IfrequiredbytheTownfromtimetotime, Timberlinewill causetobemaintainedrentandrentalvalueinsuranceinsuringagainst thevalueofallrentsduefromthepropertyandtheimprovementsthereon foraperiodofuptotwelve 12) monthsafterloss. VI. Use, MaintenanceandRepairs. 6.1Duringthetermofthislease, Timberlineagreestocause thepropertyandtheimprovementsandlandscapingthereontobemaintained ingoodconditionandrepairinthemannerofafirstclasshousing projectfacilityofsimilarsizeandpurposeandtocausetobemaintained adequatereservesforthemaintenanceandrepairthereofwhenneeded. 6.2 Duringthetermofthislease, Timberlineshallallowno useofthepropertywhichwouldbeinviolationofthedeclarationsand covenantsoftheWestVillage, ordinancesoftheTownofSnowmassVillage, orStateorFederallaws. Timberlineshallallownouseoftheproperty otherthanhousingforqualifiedemployeesasmorespecificallysetforth aboveandformeetingroomandstoragespace. 6.3 Timberlineissolelyresponsibleformakinganyandall necessaryrepairsonandexpendituresfortheupkeepofthepropertyand theimprovementsandlandscapingthereon. 6.4 Timberlinewillcausethepromptrestorationofany structure, fixtureorimprovementonthepropertywhichmaybedamaged ordestroyed. AnyamountreceivedbyTimberlineortheTownunderan insurancepolicymaintainedunderSection5.3ofthislease, shall firstbeappliedasnecessarytowardtherepairorreplacementofthe propoertyandtheimprvementsandlandscapingthereon. VII. Termination; Options. 7.1 Thisleaseshallterminateupontheearliertooccurof a) thelastdayofthetermofthisleaseasdefinedinSection1.2, oranyextensionhereofasprovidedbelow, or (b) ninety (90) daysafter noticebytheTown, byregisteredmail, ofanybreachbyTimberlineof itsobligationsunderthisleaseifthatdefaultoranyotherdefaultis continuingonsucheffectivedateoftermination, or (c) attheelection oftheTown, uponninety (90) daysnoticebyregisteredmail, ifany indebtednessofTimberlinewithrespecttothepropertyispaid, in wholeorpart, bytheTownpursuanttotheprovisionsofSection8.2, or d) iftheimprovementsarenotcompletedpriortothedatespecifiedin Section2.2, unlesssuchtimeisextendedinwritingbytheTown. 7.2. Upon terminationofthisleaseunderSection7.1., the Townshallhavetherighttoreenterthepropertyandtakepossession thereof, andTimberlineshallhavenofurtherrightsunderthislease. Timberlineshalldeliverthepropertyfreeandclearofanyliensfor anyindebtednessincurredbyTimberline. Uponterminationofthislease underSections7.1. (b) or (c), theTownshallalsoenjoyallotherrights orremedieswhichitmayhaveunderapplicablelaw. 7.3 Timberlineshallhavetheoptiontorenewthisleasefor anadditionalperiodoftenyearsuponthesametermsandconditionsas setforthherein, providedthatTimberlinenotbeindefaultwithrespect toanyprovisionsofthisleaseandprovidedthatwrittennoticeofits intentiontorenewtheleaseisdeliveredtotheTownnoearlierthan12 montbsandnolaterthanonehundredeighty (180) dayspriortotheex- pirationoftheterm. Inaddition, Timberlineshallhavetheoptiontore- newtheleasefortwoadditionalten (10) yearperiodsinthesamemanner asprovidedabove. 7.4 IntheeventthatTimberlinedeliversitsnoticeof intenttorenewasprovidedin7.3, foranyoftherenewalperiods, the Townshallhaveacounteroptiontopurchasetheimprovementsconstructed byTimberlineascontemplatedbythisleaseforanamountequalto seventyfive (75 percentoftheappraisedvalueofsaidimprovements asdeterminedbytheaverageofthreeappraisals. Oneappraisershall beselectedbyeachpartyandoneshallbeselectedjointly. TheTown shallexerciseitscounteroptionbydeliveringnoticeofitsintentto dosotoTimberlinenolaterthansixty (60) daysfollowingdelivery Timberline'snoticeofintenttorenew. Thepurchasepriceshallbedue andpayablenolaterthantheexpirationdateofthecurrentlease term. IntheeventtheTownfailsorrefusestoperform, itscounter optionshallbeconsiderednullandvoidfortheparticularleaseterm involved. 7.5 Notwithstandingtheabove, intheeventthattheTownCouncil, by resolution, determinesthatthepublicinterestrequirestheuseofthe propertyforanypublicpurposeotherthanthespecificuseoruses allowedbythislease, theTownshallhavetheoptiontopurchasetheim- provementsconstructedbyTimberlineascontemplatedbythisleasefortheir actualvalueasdeterminedbytheaverageofthree (3) appraisals. One appraisershallbeselectedbyeachpartyandoneshallbeselectedjointly. Suchoptionshallbeexercisedbydeliveryofnoticeofitsintentionto purchasebytheTowntoTimberlineinthepaymentofthepurchasepricewithin onehundredandeighty (180) daysofsuchnotice. InnoeventshalltheTown beentitledtoexercisethisoptionuntiltheexpirationoften (10) years afterissuanceofaCertificateofOccupancyfortheimprovementsdescribed herein. 7.6 IntheeventthatTimberlinefailsorrefusestoconstruct certainimprovementsdescribedinaseparateLeaseAgreementapprovedby anddescribedinOrdinanceNo. 6, Seriesof1981, withinthetimespecified inandinaccordancewiththetermsandconditionsofsuchlease, such failureorrefusalshallbeconsideredabreachofthisleasewhichshall conferupontheTowntherighttoterminatethisleaseundertheprovisionsof Section7.1 (b) above. VIII. NoticeofPayments; RighttoCure. 8.1 Timberlineshallpaypromptlywhendueallindebtedness securedbytheProperty. Simultaneouslywitheachpaymentofprincipal andinterestonanyindebtednesssecuredbythepropertyTimberlineshallsend totheTownaphotocopyofitspaymentcheck, togetherwithareportindicating theprincipalbalanceandamountinitsreserveandoperatingfunds. Failure toprovidetheaboveinformationshallnotbeconstruedabreachofthis leaseunlessTimberlinefailstoprovidesuchinformationwithinthirty (30) daysafternotificationinwritingbytheTown. 8.2 TheTownshallhavetheright (butnottheobligation) fromtimetotimetomakesuchpaymentstoTimberlineaswillpermit Timberlinetomeetanyobligationssecuredbythepropertyafternotice ofintenttforeclosebyanysecuredparty. Themakingofanysuchpayment bytheTownmayconstituteadefaultbytheTimberlineunderparagraph 7.1.(d) hereof. AnysuchpaymenttoTimberlinemaybeconditionedupon Timberline's (a) prompttransmittaloffundstotheholdersofany suchobligation, and (b) agreementinincreasefuturerentals (aslease renewalsoccur) inanamountsufficienttorepaytotheTowntheamount advancedof (c) agreementtolevyanassessmentinanamountsufficient torepaytotheTowntheassessmentadvanced. Anyfundssoadvanced shallbecomeanobligationofTimberlineseniortoallthenexisting obligationsofTimberline. IX. Miscellaneous. 9,1 Allnoticespermittedorrequiredtobegivenunderthis leaseshallbedeemedgivenwhenpersonallydeliveredorwhendeposited intheUnitedStatesmail, postageprepaid, certifiedorregistered mail, returnreceiptrequested, totheaddressstatedbelowortosuch otheraddressorpersonasdesignatedfromtimetotime. Iftothe Town: theTownofSnowmassVillage, P.O. Box5010, SnowmassVillage, CO 81615, 0016KearnsRoad, attn: MayoroftheTownofSnowmassVillage. If totheTimberline: TimberlineCondominiumManagerandtothePresident andSecretaryoftheTimberlineCondominiumAssociationattheirpersonal addressesasshownintherecordsofTimberline. 9.2 WithoutthepriorwrittenconsentoftheTown, thisleasemay notbeassignednorthepropertysubleased, exceptasspecificallyset forthherein. 9.3 failureoftheTownorTimberline, inanyoneormore casestoinsistuponthestrictperformanceofanyofthecovenantsof thisleaseshallnotbeconstruedasawaiverorrelinquishmentforthe futureperformanceofsuchcovenant. AreceiptbytheTownofrentwith knowledgeofthebreachofanycovenanthereofshallnotbedeemeda waiverofsuchbreach, andnowaiverbyeithertheTownorTimberlineor anyprovisionsofthisleaseshallbedeemedtohavebeenmadeunless expressedinwritingandsignedbytheTownorTimberline, asthecase maybe. Oneormorewaiversofanycovenants, termsorconditionsof thisleaseshallnotbeconstruedasawaiverofanysubsequentbreach ofthesameoranyothercovenant, termofcondition. 9.4 TheexecutionofthisleasebytheTownshallnotbe construedasawaiverofcompliancebyTimberlinewithanyordinanceor regulationoftheTownrelatingtothedevelopmentoruseoftheproperty ortheconstructionofimprovementsthereon. 9.5 AnyinstrumentcreatinganindebtednessofTimberline secured bythepropertyshall.recitethereinthelimitationsontheuse ofthepropertysetforthinSection6ofthislease, andshallincorporate theentireleasebyreference. 9.6 TheTownagreestonegotiateingoodfaithwithTimberline tomakesuchchangesinthetermsandconditionsofthislease, except astorent, asmaybereasonablyrequiredtosecurethenecessaryinitial construction andpermanentfinancinginconnectionwiththeconstruction ofimprovementsasdescribedherein, providedsuchchangesdonot, in theopinionoftheTown, operatetoincreasetheTown'ssubstantive obligationnordecreasetheTown'ssubstantiverightsunderthislease. Executed induplicateoriginalsthedayandyearfirstwritten above. TOWNOFSNOWMASSVILLAGE By: TIMBERLINECONDOMINIUMASSOCIATION ATTEST: SusanS. Hansen, TownClerk ATTEST: Secretary i PROOFOFPUBLICATION ORDINANCENO SERIESOF t THESNOWMASSVILLAGESUN Box5-770 Snowmass-Village CO81611 PROOFOFPUBLICATION STATEOFCOLORADO CountyofPitkin CopyofNotice I,IC t('tQd Lk)dosolemnlyswearthatI amthe UbjCt1l`.ofTHESNOWMASSSUN; thathesameisaweeklynewspaperprinted, inwholeorinpart, and publishedintheCountyofPitkin, StateofColorado, andhasa generalcirculationtherein; thatsaidnewspaperhasbeenpublished PAGE"TWENTY-F.GUR continuouslyanduninterruptedlyinsaidCountyofPitkin, fora periodofmorethanfifty -twoconsecutiveweeksnextpriortothe firstpublicationoftheannexedlegalnoticeoradvertisement; that U1'V1ZwCD.11lZClr` saidnewspaperhasbeenaddmittedtotheUnitedStatesmailsas SUMMARYOF "ORDINANCES aThs' secondclassmatterundertheprovisionsoftheActofMarch3,ADOPTEDoi? isTREADfNG deA 1879, oran saidnewaerisayamendmentsthereof, andthat q"ATTHEFEBRUARY2 =1981 Adopt PP TOWNCOUNCIL "-`MEETING weeklynewspaperdulyqualifiedforpublishinglegalnoticesand isORDINANCENo8SERIESOii4l.2: ORDI advertisementswiththemeaningofthelawsoftheStateof An6idinanceuamendingtordinanceNo.sAn:Or Colorado.Series1980 (SnowmassCluti'PUD), asfollows: of:Creek? a: Reducing typeofrestnciedtheofhci Thattheannexedlegalnoticeoradvertisementwaspublished unitstobe,construciedin1951asfollows:1,AaoptEastarereduceiifr46to "o.0RDII intheregularandentireissueofeverynumberofsaidweekly 2) countryClubHomesarereducedfrom9 fin. or i6 Senes'19 newspaperfortheperiodof consecutiveinsertions; and 3) Clubvillasarereducedfrom8,too."onthe"PL Reductionin1981requirementshall 'notthatthefirstpublicationofsaidnoticewasintheissueofsaidreducethetotal "nuinber`'ofunitsto' "beulfiinately constru&,,d newspaperdated A .D., 19 andthat bThatSnowmassCompanywiltcontribute thelastpublicationofsaidnoticewasintheissueofsaidnewspaper landforaestnctpcondommm4no cost. cThat =thePMHprogrammaybeamended date A .D., 1 fromtimetotbyresolutionoftheTown" Council,withoutpubhc"hearing, uponwritten consentoftheSnowmassCompanyprovided thatno 'sucharri `endment.'deczeases,thettotai numberofunits'thatthecompany'isresponsible toprovide." dSnowmassCompany,is,authorizedto.con- veyClub' VillasUnitsonthefreemarketwithout PNtWres' rictionsandtheHousingAuthority shallbe "entitled eceive ;allyproceedsoveran Subscribedandsworntobeforeme, anotarypublicinandfor abovethe onstru'ctioncostofsuchunits;' as' theCountyofPitkin, StateofColorado, this dayof previouslyestablishedand` ClosingcostsA Yeluding, arealestaieeommisaiono, exceed 3% of saleprice A .D., 19 NotaryPublic Mycommissionexpires