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01-22-19 Town Council PacketTown Council Tuesday, January 22, 2019 4:00 PM 130 Kearns Road Council Chambers Agenda 1.CALL TO ORDER - Mayor Butler called to order the Regular Meeting of the Snowmass Village Town Council 2.ROLL CALL 3.PUBLIC COMMENT - This section is set aside for the Town Council to LISTEN to comments by the public regarding items that do not otherwise appear on this agenda. Generally, the Town Council will not discuss the issue and will not take an official action under this section of the agenda. (Five Minute Time Limit) 4.CONSENT AGENDA - These are items where all conditions or requirements have been agreed to or met prior to the time they come before the Council for final action. A Single Public Hearing will be opened for all items on the Consent Agenda. These items will be approved by a single motion of the Council. The Mayor will ask if there is anyone present who has objection to such procedure as to certain items. Members of the Council may also ask that an item be removed from the consent section and fully discussed. All items not removed from the consent section will then be approved. A member of the Council may vote no on specific items without asking that they be removed from the consent section for full discussion. Any item that is removed from the consent agenda will be placed on the regular agenda. 4.A.DRAFT AGENDAS Future Draft Agendas Page 3.pdf 4.B.MINUTES FOR APPROVAL 1 Town Council Page - 2 Approval of Minutes Page 6 5.ADMINISTRATIVE REPORTS 5.A.RESOLUTION NO. 04, SERIES OF 2019 - A RESOLUTION CONCERNING WAIVERS OF CERTAIN PRELIMINARY PLAN REQUIREMENTS FOR THE SNOWMASS CENTER PLANNED UNIT DEVELOPMENT (PUD) APPLICATION Agenda Item Summary Resolution No. 4. Page 10 Draft Resolution No. 4 Page 12 5.B.RESOLUTION NO. 06, SERIES OF 2019 - A RESOLUTION APPROVING A CONTRACT BETWEEN THE TOWN OF SNOWMASS VILLAGE WITH CARRIAGE, LLC FOR THE PURCHASE AND SALE OF REAL ESTATE AND AUTHORIZING THE TOWN MANAGER TO EXECUTE THE CONTRACT WITH CARRIAGE, LCC FOR THE PURCHASE AND SALE OF REAL ESTATE. Agenda Item Summary- Resolution No. 6 Page 15 Resolution No 6 Page 18 Attachment for Resolution No. 6 Page 20 5.C.ORDINANCE NO. 01, SERIES OF 2019-AN ORDINANCE AMENDING THE 2019 BUDGET FOR THE HOUSING FUND FOR THE TOWN OF SNOWMASS VILLAGE AND DECLARING AN EMERGENCY Agenda Item Summary Ordinance No. 1 Page 40 Ordinance No. 1 Page 42 2019 Housing Fund Budget Page 47 6.TOWN COUNCIL REPORTS AND ACTIONS - Reports and Updates 6.A.RESOLUTION NO. 05, SERIES OF 2019 - A RESOLUTION APPOINTING MEMBERS TO THE PLANNING COMMISSION AND THE MARKETING, GROUP SALES AND SPECIAL EVENTS BOARD Agenda Item Summary- Resolution No. 5 Page 48 Draft Resolution No. 5. page 49 Board Applications For PC and MGSSE 7.ADJOURNMENT 2 . Regular Meetings begin at 4:00 p.m. unless otherwise noted o Work Sessions begin at 4:00 p.m. and aim to end at 6:00 p.m. o The dates on which agenda items are listed are only a best approximation. Agenda items are added to this list as they arise. Agenda items may well be moved to different meeting dates. Agendas are generally not finalized until the Thursday prior to the meeting. o ln addition to agenda items, this document also lists expected absences of Town Council members. ln compliance with section 2-49 of the municipal code, once the consent agenda is approved, the absences noted will be considered to have received the prior approval necessary of the majority of the Council for members to be absent from meetings. 2019 Meetines Tues. Jan 22't - Regular Meeting (Mondav is Martin Luther King Dav) (Madsen out Mavor in attendance for t hour) o Reso 4 submission waivers Snowmass Center o Reso 5 appointment of Planning Commission and MGSSE Members o Emergency Ord - Contract Mon. Feb. 4th - Regular Meeting o Discussion on lncrease age to purchase Cigarettes to 21. o Krabloonik Mon. Feb. llth - Work Session (Goode, Madsen outl Cancelled due to lack of quorum r Meeting with PTRAB Tues. Feb. 19th - Begular Meetine (Mondav is Presidents Dav) (Shenk Oq!) Fire District - Wildfire Mitigation Updates and Recommendations lnput on setting the EOTC agenda (March 21) i.'t reading ord purchase Cigarettes age to 21 Mon. Mar. 4th - ReEular Meetine o Reso with recommendations to TC from Citizen Grant Review Board . 2nd reading ord purchase Cigarette age to 2L Mon. Mar. 1lth - Work Session Mon. Mar. 18th - Reeular Meeting o Preparation for EOTC Meeting (on March 21) Thurs Mar. 21 - EOTC Meeting - Snowmass laee willChair Mon. Apr. l't - Regular Meeting Mon. Apr. Sth - Work Session Mon. Apr. 15th - Regular Meeting M on. M ay J'h--Eegg!-e-f-[4ee!!g a a 01-22-19 TC Packet Page 3 of 50 Mon. Mav 13th - Work Session 3 Mon. Mav 20th - Regular Meeting Mon. Jun. 3'd - Reeular Meetins Mon. Jun. 10th - Work Session Mon. Jun. 17th - Regular Meeting Thurs. Jun. 20th - EOTC Meeting - Pitkin Countv to Chair Mon. Ju!. l't - Regular Meeting Mon. Jul. 8th - Work Session Mon. Jul. 15th - Regular Meeting Mon. Aue. 5th - Regular Meeting Mon. Aug. 12th - Work Session Mon. Aug 19th - Regular Meeting Tue. Sep. 3'd - Resular Meeting (Mondav is Labor Dav) Mon. Sep. 9th - Work Session Mon. Sep. 16th - Regular Meeting Mon. Oct. 7th - Regular Meeting Mon. Oct. 14th - Work Session Thurs. Oct. 17th EOTC MeetinF -Aspen to Chair Mon. Oct. 21't - Regular Meeting Mon. Nov. 4th - ReFular MeetinR Mon. Nov. llth - Work Session Mon. Nov. 18th - Resular Meetine Mon. Dec. 2nd - Regular MeetinR Mon. Dec. 9th - Special Meeting Mon. Dec. 16th- Regular Meeting 01-22-19 TC Packet Page 4 of 50 4 Topics for Work Sessions or Other Meetings Requested bv Town Council Members. Smoking Ordinance- raising age to 21. Update on Daly Town Home regarding retaining wall. How did they do that? 1)new web assets, transit and recreation. Environmental Discussions/Approaches: 1) Meet with EAB and prioritize Sustainability goals 2) update on Solar and Renewable Energy for the Town of Snowmass Village 3) Discuss the Climate Reality Project 4) overview of the Re-Op Fund, its uses and successes. 5) a presentation of the Energy Navigator from the EAB/PW 6) discussion regarding how to move energy conservation efforts beyond town government to a community wide effort enabling individuals to help make progress 7) Update Council on solar project that was included in 2019 budget with findings from FAB, etc. Housing strategy: 1)discuss a potential regional approach to aging in place/ work with Pitkin county and county senior services- 2) find ways to encourage/ allow individuals to move from larger homes to smaller homes 3) meeting other needs- such as specific housing for town employees 4) update on current housing construction project 5) update on meeting the overall housing strategy. Action on Necessary IGA's or other documents regarding "school property tax" distribution. Continued discussion use of building 6. A discussion on potentially allowing camping (RV or other) within the Village 01-22-19 TC Packet Page 5 of 50 5 SNOWMASS VILLAGE TOWN COUNCIL 1 SPECIAL MEETING MINUTES 2 DECEMBER 10, 2018 3 4 1) CALL TO ORDER 5 6 Mayor Butler called to order the Special Meeting of the Snowmass Village Town Council 7 on Monday, December 10, 2018 at 4:01 p.m. 8 9 2) ROLL CALL 10 11 12 COUNCIL MEMBERS PRESENT: Tom Goode, Bill Madsen, Bob Sirkus, Alyssa Shenk, and Markey Butler. 13 COUNCIL MEMBERS ABSENT: All council members were present. 14 STAFF PRESENT: Clint, Kinney, Town Manager, John Dresser, Town Attorney, Travis Elliott, Assistant to the Town Manager, David Peckler, Transit Director, Brian Olson, Chief of Police, Anne Martens, Public Works Director and Rhonda B Coxon, Town Clerk. 15 PUBLIC PRESENT: Jim Gustafson, Jeff Head, Naomi Smith, Renee Grossman and other members of the public 16 interested in today’s Agenda items. 17 3) PUBLIC COMMENT 18 None 19 20 4) CONSENT AGENDA 21 22 A. DRAFT AGENDAS 23 24 25 B. RESOLUTION NO. 39, SERIES OF 2018 - A RESOLUTION ACTING ON 26 APPLICANT’S REQUESTED EXTENSION OF A FINAL PUD APPLICATION 27 BEYOND THE ONE YEAR DEADLINE FROM THE PRELIMINARY PLAN 28 RESOLUTION APPROVAL ON JANUARY 2, 2018 PURSUANT TO SECTION 29 16A-5-340(N), "EXPIRATION." 30 31 32 Bob Sirkus made the motion to approve those items listed on today's consent agenda. 33 Bill Madsen seconded the motion. The motion was approved by a vote of 5 in favor to 0 34 opposed. 35 36 Voting Aye: Tom Goode, Bill Madsen, Bob Sirkus, Alyssa Shenk, and Markey Butler. 37 01-22-19 TC Packet Page 6 of 50 6 38 Voting Nay: None. 39 5) ADMINISTRATIVE REPORTS40 41 42 A.RESOLUTION NO. 38, SERIES OF 2018 - A RESOLUTION LEVYING43 GENERAL PROPERTY TAXES FOR THE YEAR 2019 TO HELP DEFRAY THE44 COST OF GOVERNMENT FOR THE TOWN OF SNOWMASS VILLAGE,45 COLORADO; AND TO PAY GENERAL OBLIGATION BOND PRINCIPAL,46 INTEREST AND RELATED COSTS; AND FOR THE TOWN’S ROAD47 IMPROVEMENT PROGRAM; AND THE ASPEN SCHOOL DISTRICT FOR THE48 2019 BUDGET YEAR49 50 51 Marianne Rakowski, Finance Director spoke to the mill levy and stated Town’s 52 assessed value increased by 1.26% in 2018 from 2017. The overall Town mill levy 53 decreases from 8.809 in 2018 to 8.494 in 2019 mainly due to a reduction in debt service 54 payments in 2019 due to the final payment in 2018 on the Swimming Pool bonds. This 55 3.58% decrease in the mill levy translates into a decrease of $22.68 per $1M in market 56 value for residential property and $91.35 per $1M in market value for commercial 57 property for 2019 from 2018. The attached resolution shows the dollar amount and the 58 mill levy for each of the various property tax levies. 59 60 Tom Goode made the motion to approve Resolution No. 38, Series of 2018 - levying 61 general property taxes for the year 2019. Alyssa Shenk seconded the motion. The 62 motion was approved by a vote of 5 in favor to 0 opposed. 63 64 Voting Aye: Tom Goode, Bill Madsen, Bob Sirkus, Alyssa Shenk, and Markey Butler. 65 66 Voting Nay: None. 67 B.BRUSH CREEK FARAWAY CROSSING DISCUSSION68 69 Anne Martens, Public Works Director, David Peckler, Transit Director and Brian Olson, 70 Chief of Police were all present to aid in this discussion with the Town Council. Martens 71 stated that during the 2019 budget discussions funding was approved for the design of 72 the pedestrian crossings at Brush Creek Road and Sinclair Road intersection. 73 74 Due to recent concerns and after an initial review of transit usage, pedestrian crossings 75 and average daily traffic information, staff recommended to re-focus the design to 76 include Faraway Road/Brush Creek road intersection. After discussion with staff the 77 Town Council directed staff to begin design on both intersections Sinclair and Faraway 78 Road on Brush Creek Road. 79 80 01-22-19 TC Packet Page 7 of 50 7 C. Updated Draft Regulatory Framework for Retail Marijuana Stores in Snowmass 81 Village for Discussion 82 83 84 Travis Elliott, Assistant to the Town Manager introduced this item and reviewed 85 discussions from the last meeting and stated that the packet information is the same 86 that was in the packet at the last discussion. Council Member Sirkus was concerned 87 with outdoor security and if the state requirement was enough. Renee Grossman a 88 resident of Snowmass spoke to the security the state requirements and provided 89 information on her security, she also feels that the liaison like a registered manager for 90 our liquor establishments is an excellent idea. Having a proactive approach from the 91 beginning will reduce issues from the beginning of the process. Elliott is asking Town 92 Council to provide direction on the other items not yet discussed from the agenda 93 summary which includes maximum number of marijuana licenses, residency 94 requirements and operational restrictions. 95 96 Town Council directed staff to start putting together the rules regulations in a code 97 format and bring it back to the Town Council. Council Member Shenk asked about the 98 Licensing Authority and asked if it would will it be handle by a separate entity or would it 99 be handled administratively by the Town Clerk as Liquor Licensing is today. John 100 Dresser, Town Attorney stated that decision could be made after the framework is put 101 together for the code language and when the state regulations are reviewed by the 102 Council. 103 104 6) TOWN COUNCIL REPORTS AND ACTIONS 105 106 Mayor Butler asked for Town Council Reports and Actions at this time. 107 108 Council Member Goode will be attending a CORE Meeting and they will be disscussing 109 the 25th Anniversary of CORE. 110 111 Council Member Sirkus attended the NWCOGG meeting and stated there is a rule 112 change before the FCC that would change the way services that are now provided by 113 the cable operator. The bottom line is the Municipalities could lose some or all of the 114 fees they now receive from the cable companies. He will be bringing a letter of support 115 before the Town Council in the near future. He then provided information regarding the 116 RWAPA board and provided information on anchor ice and raising the flow of 117 Ruedi. He spoke to the Roaring Fork Valley Watershed plan and making it more user 118 friendly. Council Member Sirkus and Mayor Butler attended a disaster preparedness 119 and resiliency workshop sponsored by NWCOGG. 120 121 A. DISCUSSION ON TOWN COUNCIL APPOINTMENTS TO OUTSIDE BOARD 122 AND ALTERNATES FOR 2019-2020 DISCUSSION ON NOMINATION AND 123 APPOINTMENT OF MAYOR PRO TEM 124 125 01-22-19 TC Packet Page 8 of 50 8 Clint Kinney Town Manager stated after each election the Town Council reviews the 126 current goals of Town Council and he reached out to see how the Town Council would 127 like to review and update their goals. Rhonda Coxon, Town Clerk provided the current 128 appointments and representative for NWCOGG. At this time the Council provided 129 Coxon with the proposed representatives and alternates for each of the outside boards 130 that the Town Council participates on. At this time Tom Goode nominated Bob Sirkus 131 as Mayor Pro Tem and Alyssa Shenk seconded the motion. 132 133 Resiliency and Emergency preparedness. 134 135 B. DISCUSSION REGARDING A POTENTIAL COUNCIL GOAL SETTING 136 PROCESS 137 138 139 Clint Kinney, Town Manager stated after each election year the Town Council reviews 140 their goals. Council consensus was to make the Work Session on January 14, 2019 as 141 the Goal Setting Retreat from 3:00 p.m. to 7:00 p.m. they would also like to review goals 142 for the Boards and Commissions to discuss Council goals for them. 143 144 Town Council thanked the Town staff for the wonderful Holiday Party and the chance to 145 stay at the new Limelight Snowmass. 146 147 7) ADJOURNMENT 148 149 At 5:45 p.m. 150 151 Bob Sirkus made the motion to adjourn the Special Meeting of the Snowmass Village 152 Town Council on Monday, December 10, 2018. Bill Madsen seconded the motion. The 153 motion was approved by a vote of 5 in favor to 0 opposed. 154 155 Voting Aye: Tom Goode, Bill Madsen, Bob Sirkus, Alyssa Shenk, and Markey Butler. 156 157 Voting Nay: None. 158 This set of Special Meeting minutes was approved by the Snowmass Village Town 159 Council at their Regular Meeting on Tuesday, January 22, 2019 160 Submitted By, 161 162 ________________________ 163 Rhonda B. Coxon, CMC 164 Town Clerk 165 166 01-22-19 TC Packet Page 9 of 50 9 Town of Snowmass Village Agenda Item Summary DATE OF MEETING: January 22, 2019 AGENDA ITEM: Resolution No. 04, series of 2019 - A resolution concerning deferral of certain Preliminary Plan requirements for the Snowmass Center Planned Unit Development (PUD) application PRESENTED BY: Brian McNellis, Planner AICP, MLA BACKGROUND: Eastwood Partners LP (Applicant) has requested a deferral of specified application materials, in particular Homeowners Association (HOA) documentation including Articles of Incorporation, Bylaws, Master Deed, and Covenants. The Applicant argues it is premature to craft said documentation at this Preliminary review stage and has requested that the submittal requirement for said documents be deferred until Final Plan review. FINANCIAL IMPACT: Not Applicable APPLICABILITY TO COUNCIL GOALS & OBJECTIVES: Not Applicable COUNCIL OPTIONS: The Town Council shall consider all relevant materials and testimony, shall consider the standards of Section 16A-5-50 and shall, by resolution, approve, approve with conditions or deny the application. 01-22-19 TC Packet Page 10 of 50 10 STAFF RECOMMENDATION: Staff recommends approval of the request since the design, number of commercial /residential units, access, public space vs. private space, etc. has yet to be determined. ATTACHMENTS: 1. Draft TC Resolution No. 4 01-22-19 TC Packet Page 11 of 50 11 TOWN OF SNOWMASS VILLAGE 1 TOWN COUNCIL 2 3 RESOLUTION No. 4 4 SERIES OF 2019 5 6 A RESOLUTION CONCERNING DEFERRAL OF CERTAIN PRELIMINARY 7 PLAN REQUIREMENTS FOR THE SNOWMASS CENTER PLANNED UNIT 8 DEVELOPMENT (PUD) APPLICATION 9 10 WHEREAS, the Eastwood Snowmass Investors LP (“Applicant”) and the 11 Community Development Director (“CDD”) held informal meetings to discuss the 12 proposed application at the Pre-application conference which was held November 20, 13 2018; and 14 15 WHEREAS, as part of their submitted application, the Applicant requested 16 waiver (deferral) of certain Preliminary Plan submission requirements, specifically 17 Homeowner Association (HOA) documentation, including Articles of Incorporation, 18 Bylaws, Master Deed, and Covenants; and 19 WHEREAS, the Town Council heard the request of the Applicant pursuant to 20 the provisions of 16A-5-50 of the LUDC on January 22, 2019 whereby, “The Town 21 Council, upon the recommendation of the Planning Director, may authorize the waiver 22 or deferral of the requirement to submit certain application items if determined that 23 they are not necessary to commence review of the application”; and 24 25 WHEREAS, the Town Council finds that the requirement for detailed HOA 26 documentation is premature and that a waiver to submit said documentation will not 27 negatively affect review of the application of the Preliminary Plan application as it 28 pertains to the proposed redevelopment of the Snowmass Center; and 29 30 WHEREAS, Municipal Code Section 16A-5-50(a)(1) further states, “The 31 authorization of the waiver or deferral request by the Town Council shall occur by 32 adopting a resolution at a regularly scheduled meeting and shall reserve the right for 33 the Town to require that any material initially waived or deferred may be required to 34 be submitted by the applicant at any time during the review process if needed to 35 evaluate the applicant’s proposal”; and 36 37 WHEREAS, the deferral request by the Applicant was scheduled for 38 consideration by the Town Council at its regular meeting on January 22, 2019 to 39 receive evidence and comment from Town Staff, and to provide an opportunity for 40 comment from the public. 41 42 NOW, THEREFORE, BE IT RESOLVED, by the Town Council of the Town of 43 01-22-19 TC Packet Page 12 of 50 12 19-04 TC Reso Page 2 of 3 Snowmass Village, as follows: 44 45 Section One: Submission Requirements involving Waivers and Deferrals. The 46 deferrals of certain Preliminary Plan submission requirements requested by the 47 Applicant, are hereby conditionally approved, as set forth below, within the meaning 48 of Municipal Code Section 16A-5-50(a)(1). 49 50 Section Two: Conditions of Waivers and Deferrals. The approval of this 51 Resolution shall be subject to the Applicant satisfying the following Conditions: 52 53 1. Town Council reserves the right to require that any materials initially deferred may 54 be required to be submitted by the applicant at any time during the review process 55 if needed to evaluate the applicant’s proposal and the impacts on the Town of 56 Snowmass Village as a whole. Such determination by the Town Council shall 57 occur in accordance with the procedure set forth in of Section 16A-5-50(a)(1) of 58 the Municipal Code: and 59 60 2. HOA documentation shall be required and submitted as part of the Final PUD 61 application. 62 63 Section Three: Severability. If any provision of this Resolution or application hereof 64 to any person or circumstance is held invalid, the invalidity shall not affect any other 65 provision or application of this Resolution which can be given effect without the invalid 66 provision or application, and, to this end, the provisions of this Resolution are 67 severable. 68 69 READ, APPROVED AND ADOPTED, by the Town Council of the Town of 70 Snowmass Village on January 22, 2018 upon a motion by Council Member________, 71 the second of Council Member__________, and upon a vote of____in favor and____ 72 against. 73 74 TOWN OF SNOWMASS VILLAGE 75 TOWN COUNCIL 76 77 78 ___________________________ 79 Markey Butler, Mayor 80 81 82 83 84 85 86 01-22-19 TC Packet Page 13 of 50 13 19-04 TC Reso Page 3 of 3 ATTEST: 87 88 89 ______________________________ 90 Rhonda B. Coxon, Town Clerk 91 92 APPROVED AS TO FORM: 93 94 95 ______________________________ 96 John C. Dresser, Jr., Town Attorney 97 98 99 100 01-22-19 TC Packet Page 14 of 50 14 Town of Snowmass Village Agenda Item Summary DATE OF MEETING: January 22, 2019 AGENDA ITEM: A RESOLUTION APPROVING A CONTRACT BETWEEN THE TOWN OF SNOWMASS VILLAGE WITH CARRIAGE, LLC FOR THE PURCHASE AND SALE OF REAL ESTATE AND AUTHORIZING THE TOWN MANAGER TO EXECUTE THE CONTRACT WITH CARRIAGE, LLC FOR THE PURCHASE AND SALE OF REAL ESTATE PRESENTED BY: Betsy Crum, Housing Director Clint Kinney, Town Manager John Dresser, Town Attorney BACKGROUND: The property at 250 Carriage Way, also called Carriage Way Apartments, has provided free-market rental housing at an affordable rate for many years. There is no deed restriction currently on these units and the property has been seeking buyers for several years. The Town has been considering purchasing this property for some time. It is presently fully occupied. Property Detail: • Site: 27,367 square feet (.595 acre); Improvements: 5,372 square feet • Twelve (12) total apartments: 4 studios, 4 one-bedroom and 4 two-bedroom • Year built: 1967 • Condition: Fair, structurally sound (per 2016 engineering report) • Last list price: $3.45M (2017); current asking price: $3 million; Assessor’s 2018 estimated value: $2.988 million Staff has been negotiating with the property owner for the acquisition of this property. A real estate purchase contract has been prepared for consideration by the Town Council. The proposed contract would give the Town the exclusive right to purchase the 01-22-19 TC Packet Page 15 of 50 15 property, subject to the outcome of our due diligence. An emergency ordinance appropriating the necessary earnest money and due diligence funding will also be necessary to fund this endeavor and must be considered if this resolution is passed. The following are some of the contract highlights: • Price: not to exceed $2.85M; • Due diligence period: 120 days; • Due diligence/”subject to” work items: o Appraisal o Survey o Updated building report(s); o Environmental testing; o Confirmation of zoning compliance; o Property and rent records; o Litigation pending, if any. o Favorable financing terms. It is Staff’s position that the potential benefits of securing 250 Carriage Way outweigh the risk of leaving it to the market. The property is currently proving twelve (12) units of affordable, workforce housing that, at a minimum, should be preserved and enhanced for the residents who are living there. The current owners are unlikely to invest in maintenance, as the value is primarily in the land. The location is excellent, as it is right on the bus line and walking distance to all the Village’s amenities. It is also adjacent to Parking Lot 1 which, if combined in the future with this lot, offers significant potential for future new development. FINANCIAL IMPACT: The initial impact associated with the purchase contract is $130,000: $100,000 earnest money deposit and $30,000 to complete the due diligence items. Pending a positive outcome from the due diligence, the proposed purchase price for the property is $2,850,000. The financing is expected to be through a combination of privately-placed mortgage and equity investment from Housing Reserves/funds available. The financing package will be finalized during the due diligence period. Once put together, it will be brought to the Council for consideration and final approval at a later date. Initial Staff analysis shows that there are sufficient dollars in the annual operating budget and funds available to invest in this property. The Town will still be able to complete anticipated interior and exterior renovations at Mountain View and Villas North in the next few years, and maintain the subsidy needed to advance the Coffey Place development. 01-22-19 TC Packet Page 16 of 50 16 APPLICABILITY TO COUNCIL GOALS & OBJECTIVES: On April 3, 2017, the Town Council adopted goals that include the need for affordable housing that provides a variety of affordable housing options within the Village. This not only enables a diverse workforce that contributes to the local economy, it also helps to build a strong, well connected, and engaged community. The Housing Department continues to actively pursue the long-standing goal of housing our full-time workforce households that want to live in the community, including preserving and enhancing the existing affordable housing opportunities. Securing the property at 250 Carriage Way will both preserve existing workforce housing and secure a strategic property for potential future redevelopment. COUNCIL OPTIONS: 1) Authorize the Town Manager to execute a purchase Contract for 250 Carriage Way and Appropriate $130,000 to secure and undertake due diligence toward a potential purchase; or 2) Choose not to pursue this project STAFF RECOMMENDATION: Staff recommends that the Council make a motion to adopt Resolution No. 6-2019, which approves the Contract to acquire Carriage Subdivision, Lot 1 and authorizes the Town Manager to execute such Contract. ATTACHMENTS: • Resolution 6-2019 with exhibit (purchase contract) 01-22-19 TC Packet Page 17 of 50 17 TOWNOFSNOWMASSVILLAGETOWNCOUNCILRESOLUTIONNO.6SERIESOF2019ARESOLUTIONAPPROVINGACONTRACTBETWEENTHETOWNOFSNOWMASSVILLAGEWITHCARRIAGE,LLCFORTHEPURCHASEANDSALEOFREALESTATEANDAUTHORIZINGTHETOWNMANAGERTOEXECUTETHECONTRACTWITHCARRIAGE,LLCFORTHEPURCHASEANDSALEOFREALESTATEWHEREAS,theTownManagerandtheHousingDirectoronbehalfoftheTownofSnowmassVillagehaveexploredandsoughtoutrealpropertyintheTownwiththepotentialtolocateworkforcehousingupon;andWHEREAS,astheresultofsuchexplorationtheTownhaslocatedapropertywithsuchpotential;andWHEREAS,theTownandCarriage,LLChavespentmanyhoursdiscussingandconsideringtheTown’spurchaseoftherealpropertyknownasCarriageSubdivision,Lot1,todeterminethemostadvantageousschedule,pricingandotherdetailstoproducetheCONTRACTTOBUYANDSELLREALESTATEdatedJanuary14,2019attachedtothisResolutionasExhibit‘A”(the“Contract”);andWHEREAS,theTownCouncilhasbeendulyadvisedregardingthetermsandconditionsoftheContractforCarriageSubdivision,Lot1;andWHEREAS,TheTownCouncildesirestoapprovethetermsandconditionsoftheContract;andWHEREAS,theTownCouncildesirestovestintheTownManagertheauthoritytoexecutetheContractonbehalfoftheTown;andWHEREAS,theTownCouncilfindsthattheadoptionofthisResolutionisnecessaryforthepreservationofthepublichealth,safetyandwelfare.NOW,THEREFORE,BEITRESOLVEDbytheTownCounciloftheTownofSnowmassVillage,Colorado:1.ContractApprovalandAuthorizationtoTownManager.TheTownCouncilherebyapprovestheContractandtheTownManagerisherebyauthorizedtoexecutetheContractwithCarriage,LLConbehalfoftheTowntoacquireCarriageSubdivision,Lot1.01-22-19 TC PacketPage 18 of 5018 Reso6-19Page2of22.Severability.IfanyprovisionofthisResolutionorapplicationhereoftoanypersonorcircumstanceisheldinvalid,theinvalidityshallnotaffectanyotherprovision orapplicationofthisResolutionwhichcanbegiveneffectwithouttheinvalidprovisionorapplication,and,tothisend,theprovisionsofthisResolutionareseverable.INTRODUCED,READANDADOPTED,bytheTownCounciloftheTownofSnowmassVillage,Colorado,onthe22nddayofJanuary,2019uponamotionmadebyCouncilMember______________________,secondedbyCouncilMember_______________,andbyavoteofinfavorto—opposed.TOWNOFSNOWMASSVILLAGEBy:MarkeyButler,MayorATTEST:RhondaB.Coxon,TownClerkAPPROVEDASTOFORM:JohnC.Dresser,Jr.,TownAttorney01-22-19 TC PacketPage 19 of 5019 EXHIBIT“A”toTownCounDilResolution,No.6,Seriesof2019Thcpno.1ptISaiiithisfi)rrn.so..pitktittateddlniascbu,poroseaoLte(olotid.oRealIeat”Crmeel2(C4IS2-6-18)(Ma:datoryLi9_____________131115FORMHASIMPORTANTLJ:GAI.CONSEQUENCESANDTHEPAR]ILS51103:11)CONSULTLEGALANDTAXOR5OTHERCOUNSELBEFORESIGNING.67CONTRACTTOBUYANDSELLREALESTATE(INCOME-RESIDENTIAL)9(01-4Units‘Largerthan1-4Units)10(IDate:12[AGREEMENTJ(3I.AGREEMENIBuyeragreestohayandSc!leragreestosellthePronelydescribedhtowontheterms301conditionsset14forthinthiscontract(Contract).152.PARTIESANDPROPERTY.162.1.Buyer.________(Buyer)willtaketitle17totheProperlydescribedbelowasOjaintTenantsfllenantsInCommon482.2.NoAssinabilitv.ThisContractISNO’]’assignablebyBuyerunlessotherwisespecitiedinAthiltionalProvisions.192.3.SelIcr.“‘e—______________________________________Sel)er)isthecurrent20ownerofthePropertydescribedbelow.232.4.Property.i’hePreperlisthetollowinglegallydescribedrealCstateintheCountyofColorado:CarriageSubdivision,Lot12627knownasNo.VWnUP,m_________28StreetAddressChyStateZip29togetherwiththeinterests,easements,rights.benefits.irrrprtweinentsandatlarhedfixturesanputenimnttheretoandallfltereSt0130Sellerinvacatedstreetsantialleysadjacenttt:eretu,exceptashereinexcluded(Propero3t2.5.Incluskms.ThePurchasePriceincludesthebaflowinigitems(Inalusions):332.5.1.tnclusiuusAttached.ifattachedtuthePropertyonthedateofthis(‘ontract,thefoltuwingItemsare33includedunlessexcludedunderEcIusions:lighting,heating,plumbing,vent;tatingtmdaircondil:uningunits,TVantennas,inside34telephone,networkandcoaxial(cable)tsiringndeormnect:ngblocks/jacks,planes,mirrors,floorcoverings,intercun:systerns.35built-inkitchenapplIances,sprinklersystemsandcontrols,built-invacuumsystems(includingOcCesSuries)andgaragedoor36oenvsInuluULnLe3)ruitoeconoh)3eitk.,dthetollosstrc.tossr,dhheSJlermdmcludcd(kast.dtuisdmuI37he)isiedunderDue1)iligenceDocuments):QNoneSolarPanelsLWaterSoftenersSecuritySystemsLiSatellite38Systems(includingsatellitedishes).IfanyadditionalitemsareattachedtothePropertyafterthedateofthisContract,such39additiona)itemsarealsoincludedinthePurchasePrice.402.5.2.Inclusions—NotAttached.IfonthePropcrty.whetherattachedornot,onthedateofthisContract,the41followingitemsarcincludedunlessesm:ludedunderExclusions:stormwindows,stormdoors,windowandporchshades,awnings,42blinds,screens,windowcoveringsandtreatments,curtainrods,draperyrods,fireplaceinserts,fireplacescreens,fireplacegrates,43heatingstoves,storagesheds,carbonmonoxidealarms,smoke1tiredetectorsandallkeys.442.5.3.PersonalProperty—Conveyance.AnypersonalttropertymustbeconveyedatClosingbySellerfreearid45clearofallta’..es(exceptpersona)propertytaxesfortheyearofClosing),liensandenaunthrartces.axcapt“,,.36Conveyanceofallpersonalpropertywillhebybillofsaleorotherappheabtelegalirtsrroment,472.5.4.OtherInclusions.Thefollowingitems,whetherlixturesorpersonalproperty,arealsoincludedinthe48PurchasePrice:4950StCBS2-6-18.COXTRACFTOWiTANDSELLREALESTATE(INCOME—RESIDENTIAL)PgIaf1901-22-19 TC PacketPage 20 of 5020 2.5.5.ParkingandStorageFacilities.Theuseorownershipot’thefoLlowingparkingfwlities:____________andtheuseorunociahipofthefollowingstoragefitcilities:w’iceovNotetoBuyer:IfexactrihtstotheparkingandstoragefacilitiesisaconcenitoBuyer,Buyershouldinvestigate.2.6.Edusions.Thefbllowingitemsareexcluded(Exclusions):2.7.WalerRights/wellRights.2.7.1.DeededtVnterRights.ThefollowinglegallydescribedwaterrightsAnydeededwaterrightswitiheconveyedbyagoodandsufficient____________deedatClosing.E2.7.2.OtherRightsRelatingtoWater.Thefollowingrightsrelatingtowaternotincludedin27.1.2.7.3and2,74,willbetransferredtoBuyeratClosing:2,7.3.WellRights.SelleragreestosupplyrequiredinformationtoBuyeraboutthewell,Buyerunderstandsthatit’theweiltohetransferredisa‘SmallCapacityWell”ora“DomesticExemptWaterWell’usedforordinaryhouseholdpurDoves,Buermuse,priortooratClosing,completeaChangeinOwnershipformfortheweLl.IfanexistingwellhasnotbeenregisteredwiththeColoradoDivisionofWaterResourcesintheDepartmentofNaturalResources(Division).l3ttyermustcompleteaegistrationofexistingnellformforthenellandpaythecostofregistration.IfnoparsonwillbeprovidingaclosingServiceinconnectionwiththetransaction.Bu3ermusttiletheformwiththeDivisionwithinsixtydaysafterChistnc’.11wWe.lPermit4is77_________782.7.4.WaterStotkCertificates,ThewaterstockcertificatestohetransterredatClosingareasfollows:79Sti2.7.5.Conveyance.lfl3uyeristoreceiveanyrightstowaterpursuantto2.7.2(OtherRightsRelatingtoWater),2.7.3(WellRights),or§2.7,4(WaterStockCediticates.l,SederagreestoconveysuchrightstoBuyerbyexecutingtheapplicablelegalinstrumentatClositig.3.DATES,DEADLINESANDAPPLICABIlITY.3.1.DatesandDeadlines.ItemNo.,jj?,.eferenceIEvent1j4.3AlternatitcEarnestMone>Deadline___________4Ttt!e8.1.6.4RecordTitleDeadline3,,*8284‘RecordTokOnlecnonDeadhnd.aa5erA4*8.3Oft-RecordTitleDeadlineansaysaarTCA*63OtfReordThl,.ObjectonDeadline8.5,ritleResolution_DeadlineieaynaIr’rCAp8.6,..I.RiEhtpfFirtResalPead1inej,,Owners’AssociatIon67.2AssociationDocumentsDeadlinena97.4-AssociationDocumentsTerminationDeadlineSeller’sDisclosuresffi510.1Seller’sP,qepisc[osureDeadlinea’.’eaysaSorTCAII1010tend-BusedPaintDisclosureDeadiine3OiiayaftentCA.,LoanandCredit—L.LL,1[.oanA2icatipnC_35daa5irTCA_13§5.2NewLoanTermination_Deadline110dayerTCA,14§5.3Buyer’sCnformationDeadline______§5.3,,,,Drusalofl3jrsCreditInformationt)eadllnerai(5,4ExktingjpDcadHncra.5.4hxistingLoanTerminationDeadline58596353555657606162646566676870‘/17273747573-)818263848586DateorDeadline311saysatIrTCA2’aysaterTCACflS2-3-.1t.CONrRACJTOBUY,kr’t)SELLItCALEStAlE(tCOML—REStDL,1LSLIPage2ol1901-22-19 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iL_i194.793Theabbreviation“MEC’(mutualxcutionofthisContract)metwsthedateuponwhichbothpartieshavesignedthisContract.944.PURCHASEPRICEANDrERMS.953.1.PriceandTerms.ThePurchasePricesetforthbelowispayableinU.S.DollarsbyBuyerasfollows:ltemNiRJrenceTItem4.1PurchasePrice_____________243IarnestMone’——3§4.5NewLoan____________________4§4.6-—.---_____89§4.4(ashatCiosin,,10TOTAL,S2.BseccaLoanrransferApprosali)eodtincciaSellerorPrisole1’nar.cinoT)eadlineiaApa,raisal2021ppaalDadhneIs2!6.2—Ap2ratsalolliectionDe.idline——226.2p2us1ResoiutionD.adhnej1’SayeafterrCA23L,9.lNeILC4orNov.SurteDeadlinejOUaaaflrrICA249.3-NessILCorNessSurseOctionDeadlineic’sac.”r’rc25jti9.3NessILCorNcv.SuciResolutionDeadlineI’eUsyaSs’TCA---—.-InfionantiDueDiligence26‘It).3InspectionOhjectionDeadline9O5arTC27-U03-lncdonCerminationDeadlineaftcrTCA.LQ_...ctloRolutionDcad!ine‘y_29-10.5Prqprtjnsurane_IermioattonDeadlineiacterCA—3(1706DueDilioenccI)ocutnenssDelRerOeolir,csaSet311t).6DueDiligenceDocumentsebiectionDeadlineIC..sapaflICA32-l0______DuenecumentsResolutionDeadline______“osasafterTcA33106-j‘nsironmentailnrrninatpjiDeadlipe__34106\D‘sLsaluatwnferminadon_Deadline‘ejoapaswiA‘354_1071.onditionalSaleDeadlinein1(101cad-BasedPaintTerminationDeadlineysorTAi.tppeiStaternentsI)eadHne38I1.3EswppelStatementsIerminationDeadline-Ssa3’ft-ILA—-CIosinandPossession-——---39723(losirnCute2sapafterTDA40*17PossessionDateat,aan4117PossessionTime42-28Accc,tanceDeadlineDatejara’ft54328Acceotancet)eadlineTime87Note:ifFl-IAorVAloanboxesarecheckedin§4.3.3(LoanLimitations),theAppraisaldeadlinesDONOTapplytoFDA88insuredorVAguaranteedloans.893.2.ApplicabilityofTerms.AnyboxcheckedinthisCnnractmeansthecorrespondingprovisionapplies.Ifmy90deadlinehlnnkin§3.1(DatesandDeadlines)isleDblankorcompletedwiththeabbreviation“N/A”,ortheword“Deleted,”such91deadlineisnotappliceblaandthecorrespondingprovisioncontainingthedeadlineisdeleted.Ifnoboxischeckedinaprovision92thatcontainsaselectionof“None,suchProvisionmeansthat“None’applies.a6Amount§4.7§4.7PrivateFinancingS9R!flflflflflflSellerFinancingAmountSaco,oxx________S_________SSCBS2.-l8.COtsTR4CI’TOBUYANDSELLREALESTATE(INCOMERESIDENTIAL)Pag3at1901-22-19 TC PacketPage 22 of 5022 %4.2SellerConcession.AtC1osng,StIIrwiVcreditto3uyeiS°(SellerCmession).Th±Selkzr97Cot;onmayheusedIrnaiyIuyetfee,nst,cha]gtorexpenthturetotheextentthamountsallowedbythe}3uersLender9andisnctudedintheCoingStaIrnentrClosingDisckmuratClosing.Examp1eofaflowahkietistobeiaitorbythe99SellerConcessionInclude,butarehotimitedtu:Buyersclosingcosts.candiscountpoints.‘oanorginatonfees,prepaftiternt100andanyotherfee,cost,charge,e<pensore’pendhure.SellerConcessionisinadditionto:etysumSeflerhagreedtopayor101CCdIIjuyerelsewhereinthisContract.1(123.3.EarnestMoney.TheiarnestMoneysetttrthinthisSection.inthetormofawillbe103payabletoandheldbysTrnY____..___(EarnestMoneyHolders,initstrustacccunt,onbehalfof104itothSellerandBuyer.[heEarnestMone,vdepositmustbetendered,byBuyer,withthisContract unlessthepartiesmutually105agreetoanAlternativeEarnestMoneyDeadlinelbsitspayment.ThepartiesauthorizedeliveryoftheEarnestMoneydepositto106thecompanyconductingtheClosina(ClosingCompany),ifany,atorbeforeClosing.1,theccntLtktdhah107ecd-tcr-hnscintcratanEorneMMncydoitatrnnakrrcdtatsid-atobliahcdforthepuofpnsiJngeiTh.dahlHrnnn108tyCyl,.,adurT..kfl.,Wkt1.,,,J,.....tF.’.‘est-tL1ih—,-109E35tkncrIJ.rntt,i1tt.,LJtrp1,+±-!ItO4.3.1.AlternativeEarnestMoneyDeadline.ThedeadlinefordeliveringtheEarnestMottes,ifotherthanattheliitimeoftenderofthisContract.isassetEarthastheAlternativeEarnestMoneDeadline.1124.3.2.ReturnofEarnestMoney.IfBuyerhasaRightto1etminateandtimelyterminates.Buyerisentitledto113thereturnofEarnestMoneyusprovidedinthisContract,IfthisContractisterminatedassetforthin25and,exceptasproetdedElin421(EarnestMoneyDispute).iftheEarnestMoneybaanotalreadybeenreturnedfollowingreceiptofaNoticetoTerminate.115SelleraercestoexecuteandreturntoBuyerorBrokerworkingsithBuyer,srittenmutualnstruetions(e.g..EarnestMoney’ItOReleaseform),ssitltinthreedaysofSeller’sreceiptul’suchLoran.It?4.4.FormofFunds;TimeofPayment;Availablefunds.1184.4.1.Goodfunds.AllamountspayablebythepartiesatClosing,includinganyloanproceeds,CashatClosing119andclosingcosts,mustbeinfundsthatcomplywithallapplicableColotadolaws,includingelectronicaransibsfunds,certified1213eheck.sasingsadloanteller’scheckandcashier’scheck(GoodFunds).1213.4.2.TimeofPayment;AsailabteFunds.Allfiends.includingthePurchaseI’rieetobemudbyBuyer,mustbe122paidbeforeoratCdssingorasotherwiseagreedinwritingbetweenthepartiestoallowdisbur.,ementbyClcasmgCompanyat123ClosingORStJCHNOXPAVINGPARTVWIl.LBEINDEFAULTBuyerrepresentsthatBuyer,asofthedateofthis121Contract1Does1/’Doec‘sothascanUsthatan.urntCcttcIssrtfrthLandssulabteto.namoantnotlessthsntheanout25statedasCashatClosingin4.1.1264.5.NewLoan.t74.5.1.BuyertoPusI.oanCosts.Buyer,exceptasotherwisepermittedin44.2(SellerCoaceess:onj,fapplicable.3231musttimelypayBuyer’sloancosts,loandiscountpoints,prepaiditemsandloanoriginationtbeasteuuiredbylender.1294.5.2.BuyerMaySeteetFinancing.Buyermaypayincashorselectfinancingappropriateanducceptahicto130Buyer,includingadifferentloanthaninitiallysought,excep:asrestrictedin§4.5.3(Loanl.intitations)or430(Addittonal131Provisions).1324.5.3.LoanLimitatiotis.,.BuyetH9purchasethePropertyusinganyofthefollowingtypesofloans:1,cusscattcsnuihAjVA[BondL,g”Othereet ‘aoSoortyJ’asoptkrnto,St________—1314.5.4.LoanEstimate—MonthlyPaymentandLoanCosts.Buyerisadsitedtoreviewtheterms,conditionsand135costsofBuyer’sNewLoancarefully.IfBuyerisapplyagfataresidentialloan,thelendergenerallymustprovideBuyerwitha139LootEstimatewi:hinthreeday’safterBuyercompletesaloanapplicator:.BuyeralsohuuidobtainanestimateoftheamotlOlof137Buyer’smonthly:oortgagepayment.13314.6.Assumption.Buyeragreestoassumeandpayanexistingloanintheapproximate amountoftheAssumption139Balancesetforrttin44.)(PriceandTerms),presnttvpayableatSperincludingprincipal30andinterestpresentlyattherateof__________‘Bperannumendalsoincludingescrowlbsthefollowingasindicated:Real141EstateTaxesPropertyInsurancePremiumMortgageinsurancePremiumand[J,,..,,,,142BuyeragreestopayaloantransferfeenottoexceedSAtthetititeofassumption,thenewinterestratewill143notexceed,°opanstumattdthenewpaymentwillnotexceedSncrprincipsland144interest,plusascot;’.,ifany.Iftheactualprincipalbalanceof’theexistingleanatClosingislessthantheAssumptionBince,145whichcausesthe,ttltOUntofcashrequiredfromBuyeratClos:nntobeincreasedbymorethan5,orifanya’ttter146termsorprovisionsoftheloanchange.BuyerhastheRighttoTerminateunder§25.1onorbeforeClosingDate.14?SailerWilt[jWillNothereleedfromliabilityonsaidloan.Ifepplicabte,compliancewatttherebuirementsfor148releasefromliabilitywillbeevidencedbydeliveryoncarbeforeLoan‘I’rataferApprovalDeadlineflatClosingat’an149uppranriateletserofcommitmentfrotnlender,Anycostpayableforreleaset’iiahilitys’,illhepaidby_______inanamount150nottoexceedS1514.7.SellerorPrivateFinancing.152WARNING:tnlessthetransactionisexempt,federalandStatelawsimposelicensing,otherrequrernentsandrestrictionson153sellersandprivatefinanciers.Contractprovisionsonfinancingandtiisancingdocuments.unlessexempt,shouldhepreparedbyaCB3124.]t.CONTRACr’rODLVANSELLREALESTATE(INCOME—RESLDENr[AL)l’ageSotIS01-22-19 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154licensedColoradoattorneyorlicensedmortgageloanorignator,Brokersshouldnotprepareoradvisethepartiesonthespcci[let155offinancittg.includingwhetherornotapartyisexemptfromthelate,1564.7.1.SellerFinancing.IfBuyeristopayalloranyportionofthePurchasePricewithSellerfinancing,157ElfluterESellerstillUjitertheproposedSe’lernaneingJsa.usentothuothetpart;onorhetoitdassbulore158SellerorPrivateFinancingDeadline.1594.7.1.1.SellerMayTerminate.IfSelleristoprovtdeSellerfinancing,thisContractisconditionalupon160Sellerdeterminingwhethersuchfinancingissatist’acwrytoSeller,includingitspayments,interestrate,terms,conditions,costtnc1161compliancewiththelaw.SellerhastheRighttoTerminateunder25.1,onorbeforeSeflerorPrivateFinanringDeadline,if162suchSellertinancingisnotsaristbctorytoSeller,inSeller’ssolesublectiecdiscretion,1634.7.2.BuyerMayTerminate.IfBuyeristoparalloranyportionofthePurchasePricestithSellerorprivate164financing,thisContractisconchtionaluponBuyerdeterminingeshethersuchilnatteingissatisfactorytoBuyer,includingits165availability,payments,interestrate.tertos,conditiotaandcost.BuyerhastheRighttoTerminateunder25.1,onorheforitSeller166orPrivateFinancingDeafiline,ifsctchSellerorpricatefinar.cingisnotsatisfactorytoBuyer,inBuyer’ssolesu[iiet:tive67discretion.16816917117217317417517617717817918018118283184185186187I881891901911921939319519619798199LTRANSACTIONPROVISIONSIS.FINANCINGCONDITIONSANDOBLIGATIONS.5.1.NewLoanApplication.IfBuyeristopayallorpartofthePurchasePricebyobtainingoneormorenewleans(NewLoan).orifanexistingloanisnottobereleasedatClosing,Buyer,ifreuiredbysuchlender,mustniakeanapplicationverifiablebysuchlender,onorbeforeNewLoanApplicationDeadlineandexercisereasonableeffortstoobtaintucltloanorapproval.5.Z.NewLoanReview.It’BuyeristopayallorpartofthePurchasePricewithaNewloan,thisContractisconditionaluponBuyerdeterminino,inBuver’solesuhitivcdiscretion,sshethertheNess’LoanisaatislbeturytoBuyer,includtrtgitsavailability,payments,interestrate,terms.conditionsandcost.ThisconditionisfarthesolebenefitofBuyerBuyerhasthRightto‘1crminateunder25.1•onorbeforeNewLoanl’erminationDeadline,iftheNewLoanisnotratislacto:toBuyer,inBaser’ssolesubicefisediscretion,BuerdoesnothaveaRighttol’enninatcbasedontheNewLoanif’theobjectionisbasedontheAppraisedValue(definedbelow)ortheLenderRequirernettlsidet7nedbelow).IFSELLERiSNOTINDEFAULTANT)DOESNOTTIMELYRECEIVEBUYER’SWRITTENNOTICETOTERMINATE,BUYER’SEARNESTMONEYWILLBENONREFLINDAB1.E.exceptasotherwiseprovidedinthisContract(e.g.,Atipraisal,Title,Survey).5.3.CreditInformation,IfanexistingloanisnottohereleasedatClosing,thisContractisconditional(forthesolehenetitofSeller)uponSeller’sapprovalofBuyer’sfinancialabilityandcreditworthiness,wbicltapprovalwillbeinSeller’ssolesuhcctivediscretion.Accordingly:(I)i3uyermustsupplytoSellerbyBuyer’sCreditInformationDeadline,atF1u2.er’sexpense.infbrrnationanddocuments(includingacurrentcreditreport)cooeernittgBuyer’sfinancial,employmentandcreditcondition:(2)BuyerCOnSentSthatSellermayverifI3uyer’sfinancialabilityandcritditworthir,ess:and(3)anysuchintbriuatioranddocumentsrecehedbySellermustbeheldbySellerinconfidenceandno:releasedtoothersexcepttoprotectSeller’sinterestinthistransaction,IftheCashatClosingislessthanassetforthin4.1ofthisContract,Sellerha;theRightto‘l’ermioateunder25.1,onorbeforeClosingIfSellerdisapprovesofBuyer’sflnancialabilityorcreditworthiness,inSeller’ssolesuLlectivediscretion,SellerhastheRightto‘I’ertninateunder‘25.1.onorbetoreDisapprovalofBuyer’sCreditInformationDeadline.5.3.ExistingLoanReview.IfanexistingloanisnottobereleasedatClosing,SellerIttustdelivercopiesoftheloandocuments(inclttdittgnote,deedoftrustandanymodifications)toBuyerbyEistitigLoanDeadline,ForthesolebenefitofBuyer.thisContractisconditionaluponBuyer’sreviesvattdapprovaloftheprovisionsofsuchloandocuments,BuyerhastheRighttoI’ermintrteunder25.1,onorbeforeExistingLoanTerminationDeadline,basedonanyurtsatisfaetoryprovisionofsuchloandocuments,inBuycr’solesubjectivediscretion.Ifthelender’sapprovalofatransferofthePropertyisrequired,thisContractisconditionaluponBuyerobtainingsuchapprovalsvithoutchangeittthetertnsofsuchloan,exceptasetfOrthin4%.Iflender’sapprovalisnotobtainedbyLoanTransferApprovalDeadline,thisContractwillterminateonsuchdeadline.SellerhastheRighttoTerminateunder251.onorbefore(‘losing,inSeller’ssolesubcctivediscretion,if’SelIcristobereleasedfromliabilityundersuchexistingloanandBuyerdoesnotobtainsuchco:npliattreassetbirthin2006.APPRAISALPROVISIONS.2016.1.AppraisalDefinition,An“Appraisal”isanopinionofvaluepreparedbyalicensedorcertifleduppraiseneneaged202onbehalfofBuyerorBuyer’slender,todeterminetheProperty’smarketvalue(AppraisedValue).TheAppraisalmay‘alsoset203t’ortltcertainlenderrequiremettts,replacetncntt.removalsorrep:firsnecessaryonortothePropertyasaconditionfbi’theProperty204tobevaluedattheAppraisedValue.2056.2.AppraisalCondition,Theapoileableappraisalprovisionsetforthbelowappliestotherespectiveloantypesetforth206in45.3.orifucashtransaction(i.e.nofinancing),§6.2.1applies,2076.2.1.Conventional/Other.BuyerhastherighttoobtainanAppraisal.IftheAppraised\‘alueislessthanthe208PurchasePrice,oriftheAppraisalisnotieceivcdbyBuyeronorbeforeAppraisalDeadlineBuyermay.onorbeforeAppraisal209ObjectionDeadline:Cf3S2.St8,COts’t’RACIl0OUtAt’I)5E1,t.REALESLSS[.LIN)Mt—tUS1DErttAL)Pac5att’01-22-19 TC PacketPage 24 of 5024 2O6,2.1.1.otketo1errninte.Notity’S&krinwriting,pursuznto25.,Iuchi(oiraistermnacd:2Hor2262.L2.AppraisaiOhjectkrn.DdiveroS&kravnUnobectonwcornpaniedbyeih_copyofthe213ApprsatorwritlennotefromtenderthatcenflrmI1eAppriedVa]ueis1esthanthePurchasePrice(LenderVericton).21462.I.3.ApprsdRsoIution.tnAppraia1C)bectonirecevedbySeI1r.onorbeforeAppraia:isObjectionDcadlineindifBuyerandSelLerhavenotagreedinwrithigtoasrtenenttheeoioor beforeAppraioiIResohitim216DeadlinethisContractwillterminateortheAppraisalResnlutionDeadline,unkssSellerrecivcsBuyersrit1enwithdtvai217oftheApprisaiObjectionbeforesucherInination,i.e.onorbeforeepiraionofAppraisalRtsolutianDediine.2126.2.2.FLIA.IIiepressyagreedthet.notvitistandinoanyotherprevisiorsofthisContract,thepurchaser219tHroer)shallnotbeobligatedtocompletethepurchaseofthePropertydescribedhereinortoincuranypenaltybytblèitureof220EaniestMoneydepositsorotherwiseunlessthepurchaser(Buyer)hasbeengiven,inaccordancewithfiLtD/VlIAorVA221requirements.aorittenstatementissuedbythefedertHousingCommissic.ner.DepartmentofVeteransAffairs.oraDirect222Endorsementlender,settingforththeappraisedvalueofthePropertyofnotlessthanS—.Thepurchaser(Buyer)223shalthavetheprivilcueandoptionofproceedingwiththeconsummationofthisContractwithoutregardtotheamountofthe223appraisedva1uaton.TheappraisedvaluationisurriyedattodeterminethemaximummortgagetheDeoar:rnentus’Housingand225UrbanI)evetopmcntwillinsure.HUt)doesnotwarrantSitevaLuenordieconditionoftheProperty.Thepurchaser(Buyer)shoud226satisthirnself’TierselfthatthepriceandconditionofthePropertyareacceptable.2276.2.3.VA.ltisexpresslyagreedthat,not’.sithstandinganyotherprovisionsofthisContract,thepurchaserthuyer)228shellnotincuranypenaltybylbrlbitureofEarnestMoneyorotherwiseorbeobligatedtocompletethepurchaseoftheProperty229describedherein,iftheContractPurchasePriceorcostexceedsthereasonablevalueofthePropertyestablishedbytheDepartment230ofVeteransAffairs.Thepurchaser(Buyer)shall,however,havethepriviiegeandoptionofproceedingwiththeconsummationof231thisContractwithoutregardtotheamountofthereasonablevalueestablishedbytheDepartmentofVeteransAffairs.2326.3.LenderPropertyRequirements.[fthelenderimposesanywrittenrequirements,replacements,removalsorrepairs.232includinganyspecifiedintheAppraisal(LenderRequirements)tobemacetotheikoperty(e.g..roofrepair,repaintinef.beyond234thosemattersalreadyagreedtobySellertathisContract,thisContractterminatesontheeCriierofthreedaysfollowingSeller’s235receiptoftheLenderRequirements.orClosing,unlesspriortotermination:(I)the partiesenterintoawrittenagreement10236satisE’theLenderRequirements(2)thelanderRequ:rcmentshavebeenconipteted;or(3)thesatisfactionofthel,ender23?ReuuiramentsissaivedinsritiagbyBuyer.2386.4.CostofAppraisal.Costc-ftheAppraisaltobeobtainedafterthedateofthtsContractmusthetimelypaidbs239BuyerESeller.ThecostoftheAppraisalmayincludeanyandallthespaidtotheappraiser,appraisalmanagementcompany,241)lender’sagentorallthree.2417.OWNERS’ASSOCIATION.ThisSectionisapplicableifthePropertyislocatedwithinaCommonInterestCommunity242andsubjecttothedeclaration(Association).2437.1.CommonInterestCommunityDisclosure.THEPROPERTYISLOCA’[EDW1THINACOMMON244INTERESTCOMMUNITYANDISSUBJCC’[.rc)THEDECLARATIONFORTHECOMMUNITY.THEOWNEROf245THEPROPERTYWILLBEREQUIREDToBEAMEMBEROf‘THEOWNERS’ASSOCIATIONFORTIlE246COMMUNITYANDWII,I.BESUBJECTTOTIlEBYLAWSANDRULESANDREGULATIONSOFTHE24?ASSOCIATION.THEDECLARATION,BYLAWSANt)RULESANDREGULATIONSWILLIMPOSEFINANCIAL248OBLIGATIONSUPONTHEOWNEROF‘IHEPROPERTY,INCLUDINGANOBLIGATIONTOPAY249ASSESSMENTSOFTHEASSOCIATION.iFTHEOWNERDOESNOTPAYTHESEASSESSMENTS,THE250ASSOCIA’I’LONCOULDPLACEAL.IENON’L’iIEPROPERTYANDPC)SSIF1LVSELLITTOPAYTHEDEBT.TIlE251DECLARATION.BYLAWSANDRULESANDREGULATIONSOFTHECOMMUNI1’YMAYPROHIBITTHU252OWNERFROMMAKINGCHANGES‘I’O’I’HEPROPERTYWITHOUTANARCHITECTURALREVIEWBYTHE253ASSOCIA’I’ION(ORACOMMfl’TEEOfTHEASSOCIATION)ANI)THEAPPROVALOF THEASSOCIATION.254PURCHASERSOFPROPERTYWiTHINTHECOMMONINTERESTCOMMUN1’I’YSHOULDiNVESTIGATETHE255FINANCIALOBLIGATIONSOfMEMBERSOFTHEASSOCIATION.PURCHASERSSHOULDCAREFULLY256REAl)THEDECLARA7’IONFOR‘THECOMMUNITYANDTHEBYLAWSANDRULESANDREGULATIONSOF257THEASSOCIATION.2587.2.AssociationDocumentstoBtisr.SlIerisobligatedtoprovidetoBuyertheAssociationDocuments(defined259below),atSeller’sexpense,onorbeforeAssociationDocumentsDeadline.SellerauthorizestheAssociationInprovlucthe260AssociationDocumentstoBuyer.atSeller’sexpense.Seller’sobligationtoprovidetheAssociationDocumentsisfulfilledupon261Rover’sreceipt0fthe,\ssaeiatiotiDocuments,regardlessofwhoprovidessuchdocuments.2627.3.AssociationDocuments..‘sscitittndocuments(AssociationDocuments)consistofthefollowing:2637.3.1.AllAssociationdeclarations,articlesofincorporation,byiaw,artlclsof’organi/ation.operating264agreements,rulesandregulations,pattywallagreementsandtheAssociation’sresponsiblegovernancepoliciesadoptedunder2653h33.3-209.5,CR8.:2667.3.2.Minutesof:(1)theannuaiowners’ormembers’meetingand (2)anyexecutiveboards’ormanagers’267meetings;suchminutesincludethoseprovidedunderthemostcurrentannualdisclosurerequiredunder§38.33.3.209.4,C.R,S.CBS2.6-I&coNrRAUT0HUYANDsEtI.REALEStsTIr(INCOSIF-’RESIOEt\TtAI.)PigeS0(11101-22-19 TC PacketPage 25 of 5025 26(Annua’Disclosure)nUminutesoEmeetings.ifany,subsequenttothernutediscoscdintheAnnu1t)iscasun.ifnoieofthe269precedingmrnutesexist,thenthemostrecentminutes,ifany(731and73.2.eoIlecve1y,GoverningDocuments);and2707.3.3.LiatofaUAssociationinaurancepoliciesasprovidedintheAssociationsJatAnnualDiscIosue.neluding.271hutnotlimitedto,property,gerlrdlability,aasoeiationdirectorandoffkerprofeaionalabiLityandfidelitypdees.ihelist272mustincludetiecompanynames.policylimits,policydeductibles.additionalnamedinsuredsundexpiration1aesofthepolicies273listed(AssociduonInsuranceDocumais):2747.3.4.AlistbyunittypeoftheAasocationsiscSS!nCnC.includingboWregularundspecialassessmenaas275disclosedintheAssocis‘tionslastAnnualDisclosure:2767.3.5.ThcA5socal!)nsmostrecenttI5fl2ilCocunlentsohu.flCot:siSt01:(t)theAssociuLiti’soperatinEbudges277forthecurrentfiscalyear.(2)theAssoca1ion’smost recentannualtinancialstatements,includinoanLrnountsheidin278thefiscalyearimmediatelyprecedingtheASSOCtt)nslastAnnualDisctoaure,(3)thetCSuitSoftheAssociationsr.ostrecent279availablefinancialauditorreutew.(4)tistofthefeesandcharges(regardlessofnameuftitleofsuchfeesorcl;agas)thatthe280Asciation’scommunityassociationmanagerorAssociationwillchargeinconnectionwiththeClosingincluding.hutno:timited28!to.anyfeeincidenttotheissuanceoftheAssociation’sstatementofussessments(Statusletter),anyrushorupdatefeechargedfor282theStatusLeilet,anyrecordchangefeorownershiprecordtransferleestRecordChangeFeel,feestoaccessdocuments,(5)list283ofaltassessmentsrequiredtohepaidinadvance,reservesorworkingcapitalduea!Closingand(6)reservestudy,fatty(7.3.4284and7.3.5,collectively,FinancialDocatnentri;2857,3.6.AnywrittennoticefromtheAssociationtoSellerota“constructiondefectaction”under3S-33.3303.5.28t1CR5.withinthepastsixmonthsandtheresultofwhethertheAssociationapprovedordisapprovedsuchaction(Construction287DefectDocuments).NothinginthisSectionlimitstheSeller’sobligationtodiscloseadversematerialfactsasrequiredunder2880.2(DisclosureofAdverseMaterialFacts;SubsequentDiscinsute:PresentCond:tion)includinganyproblemsordefectsinthe289commonelementsorlitttitedcommonelementsoftheAssociationoroperte.2907.4.ConditionalonBuyer’sReview,BuyerhastbarighttoreviewtheAssociationDocuments,BuyerhastheRightto29!Temiittatcunder§25.!,onorbeforeAssociationDocumentsTerminationDeadline,basedOttanyunsatistactoryprovisionin292anynl’theAssociationDocuments,inBuyer’ssolesubjectivediscretion.ShouldBuyer receivetheAssociationDocumentsalter293AssociationDocumentsDeadline,Bayer,atBuyer’soptton.hastheRighttol’enninnteunder§25.!byBuyer’sNoticeto291‘t’ermittatereceivedbySelleronorbeforetendaysafterBuyer’sreceiptoftheAssociationDocuments.IfBuyerdoesnotreceive295theAssociationDucument,orifBuyer’sNotice10TerminatewouldotherwiseherequiredtohereceivedbySellerafterClosing295Date,Buyer’sNoticeto‘t’erminntetaustbereceivedbySelleronoritefareClosing.IfSellerdoes notreceiveBuyer’sNoticeto297i’enninatewithinsuchtime.BuyeracceptstheprovisionsoftheAssociationDeumentsusatist3tctoryandBoxerssaivcsanv296RighttoTertninateunderthisprovision,notwithstandingtheprovisionsof8.6tRightot’FirstRefusalorContractApproai).2998.TITLE INSURANCE.RECORDTITLEANDOFF-RECORDTITLE.3008.1.EvidenceofRecord‘I’itle,30!8.1.1.SellerSelectsTitleInsuranceCompany.Ifthisboxischecked,Seilerwillselecttiletitleinsurance30%companytot’urnishtheowner’stitleinsurancepolicyatSeller’sexpense.Onor beforeRecordTitleDeadline,Sellermustfurnish3(13toBuyer,acurrentcommitmentforanowner’stitleinsurancepolicy(TitleCommitment),inanamountequaltothePurchase304Price,or ifthisboxischecked.üanAbstractof’T’itleeertitiedtoacurrentdate.Sellerwillcausethetitle insurancepolicytobe305isudanddeliveredtoBuyerassoonaspracticableittorafterClosing.3067’8.1.2.BuyerSelects‘T’itleInsuranceCompany.Ifthis boxischecked,Buyerwillselectthetitleinsurance307ilmpanytofurnishtheowner’stitIinsurancepolicyatBuyer’sexpense.OnorheftireRecordTitleDeadline,Buyermustfurnishto30%Seller,acurrentcommitmentforowner’stitleinsuranceptslicy(TitleCommitment),inanamountequaltothePurchasePrice,309IIneitherboxin§8.1.1or§8.1.2ischecked,§8.1.1applies.—3108.1.3.Owner’sExtcndetlCoverage(OEC).TheTitleCt’mtnitmetttWillWillNotcontainOwner’s311ExtendedCoverage(0CC),ifthe‘titleCommitmentistocontainDCC,itwilicommittodeleteorinsureoverthestandard3(2exceptionswhichrelateto:(1)pattiesinpossession,(2)unrecordedeasements,(3)surveymatters,(4)unrecordedmechanics’313liens,t5)ganpertod(periodb:weentheeffectivedateandtimeofcommitmenttothedateandtmethedeedisrecorded)mid(6)311unpa:dtaxes,issessmentsaisuunredeemeataxsalespriortotheyearot’Ciosiag.Attyaddltio:ttp:emtumexpensetoobtain0CC3(5will bepaidby/BuyerflSellerflOne-HalfbyBuyerandOne-HalfbySellerOther316Regardlessofwietl:ertheContractrequiresDCC,the‘titleInsuranceContmitmcntmaynotprovideDECordeleteorinsureover317anyorallitt’thestandardexceptionsfor0CC.f’he‘l’itiInsuranceCompanymayrequiteaNewSurveyorNewILC,defined31%below,amongotherreqoirementsfur0CC.Ifthel’itleInsuranceCommitmentisnotsatisfactorytoBuyer,Buyerhasarightto319objecttinder§8.5(RighttoObjecttoTitle.Resolution).3208.1.4.TitleDocuments,‘titleDocumentsconsistofthefutlosving:(I)copiesofanyplots,declarations,321covenants,conditionsandrestrictionsburdeningtheProperty’and(2)topics ofanyotherdocuments(or,ifillertibte.summariesof322suchdocuntetttsllistedinthescheduleofexceptions(Exceptions)inthe‘titleCommitmentfurnishedtoBuyer(collectively,‘title333Documents).3248.1.5.CopiesofTitleDocuments,flayermustreceive,onorbeforeRecordTitleDeadline,copiesofallTitle325Documents,i’hisrequirementpertainsonlytoducutoentsasshownofrecordinthetsfticeoftheclerkatidrecorderinthecountyCIiS2t-lS.tX)NTRACF‘TolILYASDSELt,EFAt.ESTATEfISCOME—RESIDENTIAL;Page7oilS01-22-19 TC PacketPage 26 of 5026 326herthePropertyisiouaed.Thecestoffurnihhigcopiesoftheduturicrtsrequiredii;thisSectionwiBbeathepnsfhe327pryorp:irisobllgaiedtopayfortheon&’ttIeinsuraicepQlicy.32gSi6.ExistingAbstractsofTulle.S&hrmustdeihertoBuyertpiesofanyabstractsotticoveriigor any329portionoftheProperty(AbstractofTille)inSeHcr”sposasiononorbforcRecordfltIcDeatllne.3308,2RecordIitef3uycrhastherighttoreviewandobjectnAbstrtofTit1or‘ItleCommiLmenandanyofhe3311tIeOocumntsasetforthin&5(RightcoObjectwlitIe.Rsutkn)onorbeftreRtcord7l(leObjection1)eadin.312Buyersebic:ionIflUYbaSedon anyunatisfctoryformorcunentofTiteCornmirnencorAbstractofTitle,notwithstanding33313,oranyotherunatiftoryridecondition,inBuyerssolesubjcivdscretinn.JftheAbstractoi’fltie,Title(omrnitmencor334TiteDocumentsarenotreceivedbyBuyeronorbiorethtRtcordTIUcDeadline.orif thereisanendorsementothe1die335(.onmiitmentthataddsarewExceptiontotitle,acopyofthenewExceptiontotitleandthemodified1tieCommitmentwiflbe336dehveredtol3uyer.BuyerbaaontiltheeariieroLCos!tgortendaysailerreceiptofsuchdocuienisbyBiwertoreviewandobje2t337to;(I)dnyrequiredTitleDcurneRtntttinIclyreceivedbyI3uyer.(2)anydangetotheAbstractofTitle.1WcCornrnitnwntor33HTitleL)ocuinnts,or(3anyendorernenttotheTitleCommitment.If..eflerreceives13uycr’NoticeoTerminateorNoticeot339ThIeObectii,n.pursuanttothis8.2(RecordTitle),anytitleobjectionbyBuyerisgovernedbytheprovisionssetforthin§8.5340tRihrtoObjecttoTitle.Resolution).IfSellerhasfulfilledallSeller’sobligations,ifcoy,todelivertoBuyertildocuments311requiredby8.1(EvidenceofRecordTitllandSellerdoesnotreceiveBuyer’sNoticetoTerminateorNoticeofTitleObietion342bytheapplicabledeadlinespecifiedabove,BuyeracceptstheconditionoftitleasdisclosedbytheAbstiactofTitle.Title343CommitmentandTitleDocumentsassada%icrory.3448.3,Off-RecordTitle.SellermustdelivertoBuyer,onorbefireOft-RecordTitleDeadline,truecopiesofallexisting345surveysinSeller’spossessionpertainingtothePropertyandmustdisclosetoBuyeralleacemetits, liens(including,without346litnitation.governmentalimprovementsapproved,hutnotyetinstalled)oroUtertitlematters(including,withoutlimitation,rights347offirstICWCSIandoptionslnotshownbypublicrecords,ofwhichSellerhasdutoulknowledgeOflRecordMatters).IbisSection348excludesanyNewILCorNewSurvegovernedunder§9(NewILC,NewSurvey).BuyerhastherighttoinspectthePrupery349toinvestigateifanythirdoartvhasanyrightinthePropertynotshownbypublicrecords(e.g.,unrecordedeasemefv.,boundary350linediscrepancyornaturrights).Buyer’sNoticetoTerminateorNoticeofTitleObjectionofanyunsatislactor;ConCitiun351(tvhethcrdisclosedbySellerorrevealedbysuchinspection.notwthstandlng§8.2(Record‘1tIe)and13tIraosfttrciTitle)),in352Buyer’ssolesubiectivediscretion,mOstbereceivedbySelleronorbeibreOff-RecordTideObjectionDeadline.IfanOff-353RecordMatterisreceivedbyl3uyerafterthe0ff-RecordTitleDeadline,BuyerhasuntiltheearlierofClosingortendaysafter354receiptbyBuyertoreviewandobjecttosuchOff-RecordMatter.IfSellerreceivesBuyer’sNoticetoTerminateor NoticeofTitle355Objectionpursuattttothis§8,3(OtT-RecordTitle),anytitleobjectionbyBuyerisgovernedbytheprovisionsetforthin§8.5356(RighttoObjecttoTitle,Resolution).IfSellerdoesnotreceiveBuyer’sNoticetoTerminateorNoticeofTitleObjectionbythe357applicabledeadlinespecifiedabove,BuyerocceptctitlesubjecttosuchOficRecordMattersandrights,ifany,ofthirdpartiesnot358shownbypubl;crecordsofwhichBuyerhasactualknowledge.3598.4.SpecialThingDistricts.SPECIAL.TAXINGDISTRICTSMAYBEStJBJEC’I’TOGENERALOBLIGA’l’ION360INDEBTEDNESSTHATISPAll)BYREVENUESPRODUCEDFROMANNt]ALTAXLEVIESONTHETAXABLE361PROPERTYtVITHINSUCHDISTR}Cl’S.PROPERTYOWNERSINSUCHDIS’l’RICTSMAYHEPLACEDATRISK362FORINCREASEDMILl.LEVIESANDTAXTOSUPPORTThESERVICINGOF”SUCHDEW[WHERE3%1CmcUMSItFSRlSCRESL11l(irx1111Ii\BILH’01SV(11ADISIRlC10DISCIIncrSt(“H364INDEB1EI)NESSWITHOUTSUCHANINCREASEINMILLLEVIES.BUYERSSHOULDINVESTIGATETHE365SPECIAL.TAXINGi)ISTRICTSIXWHICHTHEPROPERTY.15LOCATEDBYCONTACTINGfilLCOUNTY366TREASURER,BYREVWVINGTHECERTIFICA’l’EOFTAXESHUEFORTHEPROPERTYANDBYOBTAINING367FURTHERINFORMATIONFROM‘[HEBOARDOFCOUNTYCoMMISSIONERS,THECOUNTYCLERKAND368RECORDER.ORTHECOUN1’YASSESSf)R,36)AtaxcertificatefromtherespectivecountytreasurerlistinganyspecialtaxingdistrictsthatcftlcttheProperty(lax370Certilicate)musthedeliveredtoBuyerenorbeforeRecordTitleDeadIie,IfthePropertyislocatedwithinaspecialtuxtnO371districtandsuchinclusionisunsatisfbcturytoBuyer,inI3uyerssolesubjectivediscretion,Buyermayobject,onorbeforeRecord372TitleObjectionDeadlincIftheTaxCert.ticateshowsthatthePropertyisincludedinaspecialtaxingdistrictandisreceivedby373BuyeraftertheRecord[ideI)eudllne,BuyerhasuntiltheearlierofClosingortendaysafterreceiptbyBuyertoreviewand374objecttotheProperty’sinclusioninaspecialtaxingdistrictasunsatisfactorytoBuyer.3758.5,RighttoOtijecttoTitle,Resolution.Buyer’srighttoobject.inBuyer’ssolesubjectivediscretion,toanytitle37%mattersincludesthosematterssetforthin§8.2(RecordTitle),§.8.3(OIT-RecorctTitle),§8.4(Si.ecialTaxingDistrict)and§13377(‘I’ransfer01Title).Il’Buy’erobjectstoanytitle matter,onorbeforetheapplicabledeadline,Buyerhasthefollowingoptions:3788.5.1.‘[ideObjection.Resolution,IfSCllerreceivesBuyer’swrittennoticeobjeetinetonovtitlematTer(Notice379ofTitleObjection)onorhefbretheapplicabledeadlineandifBuyerandSellerhavenutagreedtoawiittensettlementthereofon380orbeforeTitleResolutionDeadline,thisContractwillterminateontheexpirationofTitleRcsolutionDeadline,unlessSeller381receivesBuyer’swrittenwithdrawalofBuyer’sNoticeofTitleObjection(i.e..Buyer’swrittennoticetosvaiveobjectiontoucti382itemsandwaivestheRighttoTerminateforIltatreason),onorherbieexpirationofTitleResolutionDeadline,Ifeitherthe383Record‘l’itieDeadlineortheOff-RecordTitleDeadline,orboth,areextendedpursuantto§8.2(RecordTitle),§8.3fOflReeordCBS26-18,CON’rRACTOBUYANDSELLREALESTATEf1NCOdE-RESIDENTIAL)PageSof1901-22-19 TC PacketPage 27 of 5027 324Title)or8.4(SpecialTaxingI)istric:sl.theTitleResolutionDeadlinealso will heautomaticallyextendedtotheearlierof385Closingorfiheenday5afterBuyer’sreceiptoftheapplicable documents;or3868.5.2.litleObjection,RighttoTerminate.l3uyermayexercisetheRighttoTerminateunder25.],onor387hetbratheapplicabledeadline,basedonanytitle matterunsatisfbetorytoBuyer,inBuyer’ssolesubjectivediscretion.3888.6.RightoffirstRefusalorContractApproval.IfthereisarightoffirttrefusalonthePropertyorarighttoapprove389thisContract,SellermustpromotlysubmitthisContract accordingtothetermsandconditionsntsuchright.Iftheholderofthe330rightoffirstretbsalexercisessuchtightortheholderofarightoapprovedisapprovesthisContract,thisContractwillterminate.391lItherightoffirstrefusaliswaivedexplicitlyorexpires,ortheConnectisapproved,thisContractwillremaininfullforceand392effect.SellermustpromptlynotifyBuyerinwritingoftheforegoing.IfexpirationorWa)’.eroftherighta]Irstrefusalorapproval393ofIbisContracthasnotoccurredonorbeforeRightofFirstRefusalDeadline,thisContractwillthen terminate.3948.7.TitleAdvisory.TheTttleDocumentsfticctthetitle,ownershipenduseofthePropertyandshouldbeteviewed395carefully.Additionally,othermattersnotreflectedintheTitleDocumentsmay affectthelitlc,ownershipenduseoftheProperty,396including,withoutlimitation, boundarylinesandencroachments,set-backrequirements,area,zoning,buildingcodeviolations,397unrecordedeasementsandclaimsofeasements.leasesandotherunrecordedagreements,wateronor underthePropertyand398variouslawsandgovernmentalregulations concerninglanduse,developmentandenvironmentalmatters3998.7.1.OIL,GAS,WATERANDMINERALDISCLOSURE,THESURFACEESTATEOfTHE400PROPERTYMAYBEOWNEDSEPARATELYfROMTHEUNDERLYINGMINERALESTATEANDTRANSFERlt7tOFTHESURFACEESTATEMAYNOTNECESSARILYINCLUDETRANSFEROFTHE MINERAL ESTATEOR4tl2VATERRIGHTS.THIRDPARTIESMAYOWNOR[EASEINTERESTSINOIL,GAS,OTHERMINERALS,403GEOTI{ERMALENERGYORWATERONORUNDERTHESURFACE OF[HEPROPERTY,WInCHINTERESTS404MAYGIVETHEMRIGHTSTOENTERANDUSETHE SURFACEOF THEPROPERTYTOACCESSTHE405MINERAl.ESTATE,OIL,GASORWATER.4068.7.2.SURFACEUSEAGREEMENT.THEUSEOFTHESURFACEESTATEOFTHEPROPERTYTO407ACCESSTHEOIL,GASORMINERALSMAYBEGOVERNET)BYASURFACEUSEAGREEMENT,A408MEMORANI)UMOROTHERNOTICEOfWHICHMAYBERECORDEI)WITHTHECOtJNTYCLERKANT)409RECORDER.411)8.7.3.oILANDGASACTIVITY.OILANDGASACTIViTYT’HATMAYOCCURONORADJACENT’411TOTHEPROPERTYMAYINCLUDE.FILl’ISNoTLIMITEDTO,SURVEYING,DRILLING.WELLCOMPLETION412OPERATIONS,STORAGE, OILANDGAS, ORPRODUCTIONFACILIlIES,PRODUCINGWELLS,REWORKING413OFCURRENTWELI.SAND GASGATHERINGANDPROCESSINGFACILITIES.4138.7.4.ADDITIONAl.INFORMATION.BUYERISENCOIIRAGEDTOSEEKADDITIONAL415INFORMATION REGARDINC;OILANDGASACTIVITYONORADJACEN0THEPROPERTY,INCLUDING416DRILLINGPERMIT APPLICATIONS.TIllSINFORMATIONMAYBEAVAlLABIAFROM[HECOLORAI)OOIL417ANDGASCONSERVATIONCOMMISSION.4188.7.5.TitleInsuranceExclusions.MatterssetforthinthisSectionandothers.mayheexcepted,excludedfrom.419ornotcoveredbytheowner’stitleinsurance policy.3208.8.ConsultanAllornv.BuyerisadvisedtotimelyconsultIcedcounselwithrespecttoallsuchmattersasthereare421stricttimelimitsprovidedinthisContract(e.g.,RecordTitleObjectionI)eadlinandOff-RecordTitleObjectionDeadline).4229.NEWILC,NEWSURVEY.4230,1.NessICCorNewSurvey.lt’theboxischecked,a:l)NewItnprnvemontLocationCertificate(NewtIC);or,4242NewSurveyintheformofisrequtredandthefollowingwillappy:4259.1.1.OrderingofNewILCorNewSurveEQSeller[jBuyerwillnrdertheNewILC or NewSurvey. The126NewILCorNewSurveymayalsobeapreviousILCorsurveytnatisintheabove-requiredform,certifledandupdatedasofa427dateafterthedateofthisContract.42%9.1.2.PaymentforNewICCorNewSurvey.ThecostoftheNewICC’or NewSureywillhepaid,onor429batbre Closing,h3:ElSeIlerI7ttuyeror:43t14314324339.1.3.DeliveryofNew1LCorNewSurvey.Buyer.Seller,theissueroftheTifieCommitment(ortheprovider434oftheopinionoftitleifanAbstractofTitle)andLe,3willreceiveaNewILCorNewSurveyonorbefore435NewILCorNewSurveyI)eadtine.4369.1.4.CertificationofNewILCorNewSurvey.TheNewILCorNewSurveywillbecertifiedbythesurveyor437toallthosewhoaretoreceivetheNewILLorNewSurvey43%9.2.Buyer’sRighttoVaiveor ChangeNewILCorNewSurveySoledion,BuyermayselectaNewILC’orNew-139Surveydi)trentthaninitiallyspecifiedinthisContractiftttetisnoadditionalcasttoSellerorchangetotheNewILCorNew440SurveyObjection Deadline.Buyermay.inBuyer’ssolesttbjectisediecretion,waiveaNessICCorNewSurveyifdonepriorto431Seller incurrittganycostforthesame.cB52-6-tS. CONTRACTTOBUYANt)SELLREALESTATEI1NCOME-’RESIDENTLAL)Page9ailS01-22-19 TC PacketPage 28 of 5028 4429,3.NewILCorNewSurveyObjection.BuyerhastherighttoreviewandobjecttotheNew1i.CorNewSurvey.If443theNewILCorNew SurveyisnottimelyreceivedbyBuyerorisunsatisfactorytoBuyer,inBuyer’ssolesuleetivediscretion,444Buyermay,onorbeibreNewILCorNewSurveyObjectionDeadline,notwithstandi:ttr§5.3or13:4459.3.1.NoticetoTerminate.NotifySellerinwriting,pursuantto§25.1,thatthisContractisterminated;or4469.3.2.NewILCorNewSurveyt)bjction.DelivertoSellerawrittendescriptionofanymatterthat wastobe447shownorisshownintheNew!LCorNewSurveythatisunsatiLctcuyand thati3ocrrequiresSellertocorrect.4489.3,3.NewILCorNewSurveyResolution,ifaNewILCorNewSurveyObjectionisreceivedbySeiler.on439orbeibreNewILCorNewSurveyObjectionDeadlineandliBuverandSellerhavenotareedinwritingtoasettlementthereof450onorbeforeNew1LCorNewSurveyResolutionDeadline,thirContractwilterminateonexpirationofthe NewILCorNew351SurveyResolutionDeadline,unless SellerreceivesBuyer’swrittenwithdrawaloftheNewICorNewSurveyOhectionbetbre352suchtermination.i.e.,onorbeforeexpirationofNewILCorNewSurvey ResolutionDeadline,453jDISCLOSURE,INSPECTIONANDDUEDILIGENCEI454ia.PROPERTYDISCLOSt:RE,INSPEC’fION.INDEMNITY,INSURABILITY,DUEDILIGENCE,ANDSOURCE155OFWATER.45610.1.Seller’sPropertyDisclosure.OnorbeforeSeller’sPropertyDisclosureDeadline,Selleragreestodeliverto457I3uyerthemostcurrentversionoftheapplicabLeColoradoRealEstateCommission’sSeller’sPropertyDisclosureLbrmcompleted458bySellertoSeller’sactualknowledgeandcurrentasofthedateofthisContract.45910.2.DisclosureofAdverseMaterialFacts;SubsequentDisclosure;PresentCondition.SellermustdisclosetoBuyer460anyadversematerialtdctsactuallyknownbySellerasofthedateofthisContract.Selleragreesthatdisclosureofadversematerial461thetawillbeinwriting.IntheeventSellerdiscoversanadversematerialthetalterthedateofthisCoititact,Sellermusttimely462disclosesuchadversefacttoBuyer.BuyerhastheRightto‘terminatebasedontheSellersnewdisclosureontheearlierof363ClosinaorfisedaysafterBuycrsreceiptctthenewdisclosure,ixceptasotherwiseprovidedinthisContract,Buyer164ecknossletlgesthatSellerisconveyi:raihePropet:ytoBuyerinan“AsIs”conattion,‘Whereis”and“W’itliAllFatilts.”46510.3.inspection.UnlessotherwiseprovidedinthisContract,Buyer. actingingoodLaith.hastherighttoItaveinspectrons46n(byoneormorethirdparties,perscnallyorbothjofthePropertyandInclusions(Inspection),atBuyer’sexpense.If(I)the467physicalconditiottot’theProperty,including,hut notlimitedto.theroofwells,structuralintegrityoftheProperty,theelectrical,465pLutobing.lIVACandothermechanicalsystemsoftheProperly.(2)thephysicalconditiotioftheInelustons,(3tservicetothe169Property(includingutilitiesandcommunicationservices).systemsandcomponentsoftheProperty(e.g.. heatingandplumbing),47014)soyproposedorexistingtransportationproject,road,streetor ltighway,or(5anyotheritcttvrty,odorornoise(whetheronor471offtheProperty)anditSeffectorexpectedeffbctonthePropertyoritsoccupantsisunsatisfactory,inBuyer’sttlcsubjective$72discretion,t3uyermay:47310.3.1.InspectionObjection.OnorbeforetheInspectionObjectionDeadline,delivertoSellerawritten474descriptionofanyunsatisfactorycortditionthatBuyerrequiresSellertocorrect;or47510.3.2.‘terminate,OnorbeforetheInspectionTerminationDeadline,notitSellerinwriting,pursuantto§47625.1,thatthisContractisterminatedduetoanyutistisfacto:ycondition.InspectionTerminationDeadlinewillbeonthe477earlierofInspectionResolutionDeadlineorthedatespecifiedin§3.1forInspection‘ferminationDeadline.47810.3.3.InspectionResolution,lienInspectionObjectionisreceivedbySLler,onorbefbrcInspectionObjection479DeadlineandifBuyerandSellerhavenotagreedinwritingtoasettlementthereolonorbethreInspectionRestu1iunDeadline.480thisContractwillterminateonInspectionResolutionDeadlineunlessSellerreceivesBuyc:‘awrittenwithdrawalofthe8iInspectionObicetionbeforesuchtermination,i.e..onorbeforeexpirationofInspectionResolutionDeadline..182tO.4.Damage.LiensandIndemnity.Buyer.exceptasotherwiseprovidedinthisContractorotherwnttertagreement483betweentheparties.isresponsibletbrpaymentfirallinspections,tests,surveys,engineeringreports,orotherreportsperformedat41(4I3uyer’srequest(Work)andmustpayf.,rany’damagethatoccurstothePropertyandInclusionsasaresultofsuchWork.Buyer485mustnotpermitclaimsorliensofanykindagainstthePiopertyforWorkperformedontheProperty.Buyeragreestoindemnify456protectandholdSellerharmlessthouandagainstanyliabitity,damage.costorexpenseincurredbySellerandcausedbyanysuch487Work,claim,orlien.ThisindemnityincludesSeller’srighttorecoverallcustsandexpensesincurredbySellertotietendagainst458art)suchliability,damage,costorexpense,ortoeritorcethisSection.includingSeller’sreasonableettomeyfees,legalfeesand489expenses.Theprovisionsofthis Sectionsurvivetheterminationat’thisContract.This§10.4doesnotapplytoitemsperformed491)pursuanttoanInspectionResolution.49110.5.Insurability.Buyerhastherighttoreviewandobjectttitheavailability,termsandcotiditionsofmidpremitimfor492propertyinsurance(PropertyInsurance).BuyerhastheRighttoTerminatetinder§25.1,onorbeforePropertyInsurance493Tct’minatiomtDeadline,basedonanyunsatisthctoryprovisionnfthePropertyInsurance,inBuyer’ssolesubjectivediscretion.49110.6.LIneDiligence.19510.6,1.DueDiligenceDocuments.Iftherespectiveboxischecked,SaileragreestodIiercopiesofthefollowing396documentsandinformationpermittingtothePropertytDueDitigeticeDucututents)toBuyeronorbeforeDueDiligence497DocumentsDeliveryDeadline:c:usa.o-iSCOVIItACTTOBUYANDSLt.t.IUAL.ESTATFIINCOME—RES3DENTSAI,)t’iige10‘,f1901-22-19 TC PacketPage 29 of 5029 49RfJ10.&].1.AllcoOtractsrelatingtotheooeratinn,maintenanceandmanagementoftheProperty;49E10.6.1.2.Propertytaxbillsforthelast________years:10.6.1.3.As-builtconstructionplanstothePropertyandthetenantitnprascrncms,includingarchitectural,501electrical,mechanicalandstructuralsystems:engineerinreports:andpermanentCertificatesofOccupancy,totheextentnow502asailahle:503tO.6.1.4.Alistofallinclusionstobeconveyedto13r;501,/10.6.1.5.Operatingstatementsforthepastyears;505/10.6.14.ArentrollaccurateandcorrecttothedateofthisContract;506/10.6.1.7.Alcurrentleases,includinganyamendmentsorotheroccupancyagreements,pertainingtothe507Property.ThoseleasesorotheroccupancyagreementspertainingtothePropertythatsurviveClosingareasfellows(Leases):Still509511)10.6.1.8.AscheduleatanytenantimprovementworkSellerisobligatedtocotttpetebuthasnotyet511‘pletedandcapitalimprovementworkeitherscheduledorinprocessonthedateofthisContract;512/10.6.1.9.AllnauranceoliclespertaininetothePopartyandcopiesofanylain:sohiclihavebeenmade513theeastyears:51410.6.1.111.Soilsreports,surveysandengineeringreportsordunpertainingtothePropertytitnotdelivered515‘icruttder§8,3);51610.6.1.11,AnyandallexistingdocumentationandreiaortsregardingPhaseIand11environmentalreports,517letters,testresults,advisoriesandsimilardocumentsrespectivetotheexistenceornonexistenceofasbestos,PCBtranstbnners,or518othertoxic,hazardousorcontaminatedsubstancesand/orundergroundstoragetanksand/arradongas.lInereportsarcinSellers5)9ossessionorknowntoSeller.SellerwarrantsthatnosuchreportsareinSeller’spossessionorknosntoSeller:52010.6.L12.Any.4rnericenswultDisabilitiesActreports,studiesorsurveysconcerningthecomplianceofthe521,bqpertywithsaidAct;522[,J10.6.1.13.Allpermits.licensesandetherbuildingoruseauthorizationsissuedbyanygovernmental52)autnoritywithjurisdictionoverthePropertyandwrittennoticeot’anysiolationofanysuchpermits.licensesor useauthorirations.524iiany;and52510.6,t.14.Otherdocumentsandinformation;526Wrjttendjscosureofanyiawsuitsinvolvingthepropertyforthe‘ast5years.52810.6.2.Duel)ilistenceDocumentsReviemandObjection.BuyerhastlterighttoreviewandobiecttoDue529DiligenceDocuments.It’theDueDiligenceDocumentsarenotsuppliedtoBuyerorarcunsatisihetory,inBuyer’ssolesubjective530discretion.Buyermay,onor hehweDueDiligenceDucumentsObjectionDeadline:5)110.6.2.!.NoticetoTerminate.NotitSellerinwriting,pursuantto§25.1.thatthisContractis532terminated:or53310.6.2.2.DueDiligenceDoctmtentsObjection.DelivertoSellerasrittendescriptionofany531unsatistactoryDueDiligenceDocumentsthatBuyerrequiresSellertocorrect.53510.6.2.3.DueDiligenceDocumentsResolution,IfaDueDiliucnceDocumentsObjectionisreceivedby536Seller,onorbeforeDueDiligenceDocumcntsObjectionDeadlineandifBuyerandSellerhavenotagreedinwritingtoa537settlementthereofonorbelbrcflueDiligenceDocumentsResolutionDendlin,thisContractwillterminateonDue[)iligence538DocumentsResolutionDeadlineunlessSellerrecaivesBuyer’swrittenwithdrawaloftheDueDiligenceDocumentsObjection539beforesuchtermination,i.e.,onorbeforeexpirationofDueDiligenceDoeumnttResolutionDeadline.54010.6.3.Zoning.l3uyerhastheRightto‘Terminateunder§25.1,onorbeforeDueDiligenceDocumentsObjection541Deadline,hasdonnovtinsatifhctnrezoningandanyuserestrictionsinttodbyatmgovernmentalagencywitjurisdictiortover542theProperty,inBuyer’ssolesubjectivediscretion.54310.6.4.DueDiligence—Environmental,ADA.Buyerhastherighttn,ptainenvironmentalinspectionsofthe544PrnpertincludingPhaseIandPhaseIIEnvironmentalSiteA5sessments,asapplicabie.[_,jsenerBuyerwillorderorprovide545PhaseIEnvironmentalSiteAssessment,jPhaseIIEnvitonmentalSiteAssessmenttcop!inn!withmostcurrentversion16ohePle\SI‘lF15’ndaUatcsto1nsrontncntalSt.\ssssnettsjnd/,rCC5l’sW9flt547attheexpense01Seller/Buyerl:tsvtrottmetttalInspection).Inaddtion,Buyer,atBuyersexpense,mayalsoconduct10542evaluationwhetherHe1’ropccutnplieswiththeAoi,ir;conswithDisabilitiesAc’t(ADAEvaluation).Allsuchintpectionsand519esaluationstoustbeconductedatsuchtimesasaremutuallyagreeabletominimizetheinterruptionof’Seller’sandanySeller’s551itenants’businessusesofthePropertyit’atty.551IfBuyer’sPhaseIEnvirumnentaSiteAssesstnentrecommendsaPhaseIlEnvironmentalSiteAssessment,the552EnvironmentalInspectionTerminationDeadlinewillbeextendedbydays(Extendedbnvhonmcntltnspectuc:553ObjectionDeadline)andifsuchExtendedEnvironmentalInspectionfl”1eetionO‘lineextendsbeyondtheClosingDate,the554ClosingDatewillbeextendedalikeperiodoftime.Insuchevent.SellerV’BuyermeatnaythecostfirsuchPhaseIi555EnvironmentalSiteAssessment.CBS2-6.ltCOrcfRACETOOtJYANDSELLREALESTATE(INCOME—RESIDENTIAL)Page11ort901-22-19 TC PacketPage 30 of 5030 556r’()ivithsiancngBnyersrighttoohiairac1dlonenvininiiientIinspcconsofPmpcrtyithisO64,fl:yerhasthe557RighttoTerminateunder§251,otiorbeftreEironrneniInspectionTerminationDeadline,t.wif’appliceble,the£xtedd55hnvinmmenta)hmpectiorObjectionDeidllne,basedonanunsatishctoryresultsofFnvronnierna1Inspectiim,hi3uyerssole559subjectivediscretion,560BuyerhastheRighttoierminateunder§%5i.onor beforeADAEvoIuatonTermtnatiouDeadline.hsedonany561UfiSallSfaetOTyADAFvaluation.inBuyersoiesuhjecivediscretion.5210.7.CandtttonatUponSaleorProperty.1hiContract:,c’ndiiionluponhesaleandclosing01thatcertainpropeny563ownedbyBuyerandcommonlyknownas.BuyerhastheRihttoTermina:e563under25.teffejiveuponSitersreceiptOi!3UyCr’SNoticeto[crminaeanorhefireConditiunatSaleI)eadlineifsoch;spropertyisnotsoldandcloseäbysuchdeadline.ThisSectionisforthesolebenefitofBuyer.tfSellerduesnotreceiveBuyer’56NoticetoTerminateonorbeforetonditinnatSaleDeadline.1303crwaisesanyRightsoTerminateundert’sprovisiin56710.8.SourceofPotableWriter(ResidentialLandand ResidentialImproirmentsOnly).BuverDoes[jDaesNot561acknussledgetee-in’ofacopyofSiler’sPropertyDisclosureorSourceofWaterAddendumdisclosingtheeurecotpotablewater56fortheProperty.ThercisNoWell.BuyerDoesDoesNotacknowledgereeetptofacopyofthecurrentssellpermil570NotetoBuyer:SOMEWATERPROVIDERSRELY,10VARYINGDEGREES,ONNONRENEWABLEGROUNI)571WATER.YOUMAYWISHTOCONTACTYOURPROVIDER(ORINVESTIGATETHEDESCRIBEDSOURCE)TO572DETERMINETHELONG-TERM51FFICIENtYOfTHEPROVIDER’SWA’I’EUSUPPLIES.57310.9.ExistingLeases;ModificationtifExistingLeases:NewLeases,Sellers:etesthatnoneoftheLeasesto heassigned574totheBuyeratthetimeof’Closingcontainanyrentconcessions,rentreductionsorrentabatementsexceptusdisclosedinthe575I.,easeor otherwritingreceivedbyBuyer.Sellerwillnotamend,alter,modify.extendorcancelanyoftheLeasesnorwillSeller576enterintoanynessleasesaffectingthePropertywithoutthepriorwrittenconsentofBuyer,whichconsentwillnorbeunreasonably577withheldordelayed.57810.10.Lead-BasedPaint.57910.10.1.Lead-BasedPaintDisclosure.Unlessexempt.ifthePropertyincludesoneormoreresidentialdwellings510constructedorabuildingpermitwasissuedpriortoJanuaryI.1978,tdrthebenefit0fBuyer.Sellerandallre;uireJrealestate581licenseesmustsignanddeliverteBuyeracompretedLead-BasedPaintDisclosure(Sates)formonorbeforetheLead—Based582PaintDisclosureDeadline.IfBuyerdoesnottimelyreceivetheLead-BasedPaintDisclosure,Buyermaywaivethefailureto583timelyreceivetheLead-BasedPaintDisclosure,orBuyermayexerciseBuyersRighttoTerminateunder25.1bySellers583receiptofBuyer’sNoticetoTerminateonorbetbretheexpirationoftheLead-BasedPaintTerminationDeadline.58510.10.2.Lead-BasedPaintAssessment.IfBuyerelectstoconductorobtainarisk2ssessrnentoraspection01516thePropertyîurthepresenceofLead-BasedPaintorLead-BasedPainthazards,BuyerhasaRightto‘Iermhascunder25tby587SellersreceiptofBuyer’sNoticetoTerminateonorbefOretheexpirationoftheLead-BasedPaintTerminationDeadline.If581Buyer’sNoticetoTerminatewouldotherwiseberequiredtobereceivedbySellerafterClosingDate.Buyer’sNoticeto589TerminatemusthereceivedbySelleronorbefOreClosing.BuyermayelecttowaiveBuyer’srighttoconductorobtainarisk590assessmentorinspectionofthePropertylhrthepresenceofLead-BarredPaintorLead-BasedPainthazards.IfSellerdoesnot591receiveBuyer’sNoticetoTerminatewithinsuchtime,BuyeracceptstheconditionofthePropertyrelativetoanyLead-Based592PaintassatistOcturyandBuyerwaivesanyRighttoTerminateunderthisprovision.59310.11.CarbonMonoxideAlarms.Note:IftheimprovemenlsonthePropertyhaveafuel-tiredheaterorappliance,a594fireplace,oranattachedgarageandincludeoneormoreroomslawfullyused’brsleepingpurposes(Bedroom).theparties595acknowledgethatColoradolawrequiresthatSellerassurethePropertyhasanoperationalcarbonmonoxidealarminstalledwtthin596fifteenIbetot’mheentrancetoeachBedroomorinalocationasrequitedbytheapplicablebuildingcode.50710.12.MetliamphetamineDisclosure.IfSellerknowsthatinetlranuphetaminwasevermanufactured,processed,cooked598disposedof,usedorstoredatthePrrli,erts,Sellerisrequiredtodisclosesuchfact.NodisclosureisrequiredittImePropertywas599remedirnedinaccordancewithstatestandardsandotherrequirementsarefOlOlludpursuantto25-18.5-11)2,CR5.Buyer further600acknowledgesthatBuyerhastherighttoengageacertifiedhygienistorindustrialhygienisttotestwhetherthePropertyhasever601beenusedasamethamphetaminelaboratory’,BuyerhastheRightsoTerminateunder251,uponSelter’steudptor’Buyer’s602writtenNnticeto‘terminate,notwithstandinganyotherprovisionutthisContract,basedonBuyer’stestresultsthatindicatethe603Propertyhasbeencontaminatedwithmethamphetamrne,buthasnotbeenrentediatedtonicerthestandardsestablishedbyrulesof606theStateBoardofHeahhpromulgatedpursuantto25-!8,5-102,C.R.S.buyermustpromptlyeivewrittennoticetoSellerofthe605resultsofthetest,60511.ESTOPPELSTATEMENTS.60711.1.EstoppelStatementsConditions.BuyerhastherighttoreviewandobjecttoanyEstoppelStatements.Sellermust.608requestfromalltenantsofthe PropertyandifreceivedbySeller,delivertoBuyeronorbeforeEstoppelStatementsDeadline,609StatementsflaformandsubstancereasonablyacceptabletoBuyer,fromeachoccupantortenantatthePronerty(Estuppel610Statement)attachedtoacopyofthet,casestating:611ILI.1.ThecotnmencementdateoftheLeaseandscheduledterminationdateofsheLease;61211.1.2.‘l’hatsaidl.eascisinfullfOrceandeffectandthatthere havebeennosubsequentmodificationsor613amendments;CBS2.6-1S.cox’rRACrt’Tf)BUS’AN!)SELL.REAL.ESTATEtNCOME.RESIDENTiAl.)Pnge12ott901-22-19 TC PacketPage 31 of 5031 61411.1.3.Theamountofanyadvancerentalspaid,rentconcessionsgivenanddepositspaidtoSeller;61511.1.4.Theamoutttofmontitly(oretherupplicableperiodtrentalpaidtoSetter;61611.1.5.ThatthereisnodefaultunderthetermsofsaidLeasebylandlordoroccupant;end61711.1.6.ThattheLeasetov.hichtheEstoppelStatementisattachedisatrue,correctandcompletecopyat’thelease618demisingthepremisesitdescribes.619[1.2.SellerEsttsppelStatement.IntheeventSellerdoesnotreceivefromalltenantsoftheProperlyacompletedsigned620LstopelStatement,SelleragreestocompleteandexecuteanEstoppelStatementseStingforththeirtthrmauorianddocuments621requredI1.1aboveanddoIiorthesametoBuyeronorbcfbreEstoppelStatementsDeadline.62211.3.EstoppelStatementsTermination.BuyerhastheRighttoTerminateunder25.1.onorheibreEstoppel623StatementsTerminationDeadline,basedonanyunsetisfactur)EstoppelStatement,inBuyer’ssolesubjctivcdiscretion,orif621SellerfailstodelivertheEstnppelStatementsonorhelbreEstuppelStatementsDeadline.Buyeralsohastheunilateralrightto025waiveanyunsatisibetory[ictoppelStatement,626CLOSlN(PROVISIONS62712.CLOSINGDOCUMENTS,INSTRUCTIONSANDCLOSING.62812.1.closingDocumentsandClosingInformation.SellerendBuyerwillcooperatewiththeClosing(‘ompanyto629enabletheClosingCompanytoprepareanddeliverdocumentsrequtredfbrCtosinptoItrwerandSellerandtheirdesignecs.It’630BuyerisobtainingaloantopurchasetheProperty,BuyeracknowledgesBuyer’slenderisrequiredtoprovidethe(Jlosmg631Cmitpaoy,ittatimelymanner,allrequiredloandocumentsandllnanci,linformationconcerningBuyer’sloan.BuyerandSciler632willhirnishanyadditionalinformationanddocumentsrequiredbyClosingCompanythatwillbenecessarytocompletethis633transaction.BuyerendSellersvillsignandcompleteallcustomaryorreasonable-requireddocumentsatorhelbreClosing.63412.2.ClosingInstructions.ColoradoRealEstateComtnissin’sClosingInstructionsAreAreNote\ecutedwith635thisContract.63612.3.Closing.DeliveryofdeedfromSellertoBuyerwillheatclosing(Closing).(‘losingwillheottthedatespeiticdas637theClosingDateorbytnutualagreementatanearlierdate.ThehoarandplaceofClosingwillbeasdesignatedby6]8CecCwooy63912.4.1)isclosureofSettlementCosts.l3uyarandSelleracknowledgethatcosts,qualityandextentatservicevary640betweendifferentsettlementserviceproviders(e.g.,attorneys.lenders,inspectorsandtitlecompanies).13.‘t’RANSFEROF‘I’I3’LE.SubjecttoBuyer’scutapliancewiththetermsandprovisionsorthisContract,includingthetenderat’anypaymentdueatClosing.Seller,providedanotherdeedisnotselected,mustexecuteanddeliveragoodandsellicien:specialIvarratitydeedtoBuyer,atClosing.However,iftheboxischecked.thepartiesagreetousethecorrespondingdeedinstead:warrantydeedhargitinandsaledeedflquitclaimdeedpefsotts.retrescotative’sdeed,,,need13.1.SpecialWarrantyI)eedandGeneralWarrantyUedExceptions.11titlewillbeconveyedusingaspecialwarrantydeedorageneralssoiarttydeed,titlewillheconveyedsubjectto:13.1.1.GeneraltaxesicrtheyearofClosing,13.1.2.Distributionutilityeasements(includingcable‘l’V),13.1.3.l’hosespecificallydescribedright.sotthirdpartiesnotshtwnbythepublicrecordsofwhichBuyerlistactualknowledgeandwhichwereacceotedbyBuyerinaccordanceWOO8.3f)l’tRcesrdTit!c)and9(NewILCorNew13.1.3.InclusionofthePropertywithinanyspeci;tltaxingdistrict,13.1.5.Anyspecialassessmentifdteimproven:entswerenotinstalledasofthedateofBuyer’ssignaturehereon,whetherassessedpriortooratierClosing:tnd13.1.6.Other___________________________________________13.2.SpecialWarranyDeed,Inadditiontotherequirementsof13.1.iftitlewillbecottveyedbyaspecialwa:rantydeed,Sellerwiltwarranttitleagainstallpersonselaitningby,throughorunderSellerubecttothosespecificrecordedexcepfions,ifarty.createdduringSeller’sownershipofthePropertyanodescribedbyraferetteetorecordeddocumentsshownasExceptionsitsthe‘titleDocumentsthatareacceptedbyBuyerinaccordancewith8.1(Record[ole)anddescribedinthedeedbyreferencetotltespeciticracordittginrormationPareachrcurdeddocument.13.3.GeneralWarrantyDeed.Inadditiontotherequirementsnt13.1,iftitlewillheconveyedbyageneralwarrantydeed.SellerwillwarrantthetitlesuhecttothosespecificrecordedexceptionsdescribedbyreferencetorecordeddocumentsshownasExceptionsintheTitleDocumentsthatareacceptedbyBuyerinaccordancewith§8.2(Record‘l’itle)anddescribedinthedeedbyreferencetothespecificrecordinginfortoafion(hreachrecordedUocumeitt.66613.PAYMENTOF’LIENSAN!)ENCUMBRANCES.tjnlesagreedtobyBuyerinwriting,anyamountsowedonanyliens667orencumbrancessecuringamottetar’ysum,including,hutnotlintitedto.anygovernmentalliensforsnecialimpmverncnts641642643644645646647648649650651652tj)i654655656657658659660661662663664665CBSl5-tS.CONTRACT ‘tOBUYANOSEt.tRtnsi,EStATE(INCOME-RCSUJENTIAI.)Pltte13etJ901-22-19 TC PacketPage 32 of 5032 66ins1kdasofthUatBuyersigmtrehereon,whetherasesdornotandpreviousyeartaxe%.wWhpaidatorbeibre669ClosingbySellerfrvrntheproceedsofthborhornanyother source.67015.CLOSTNGCOSTS,CLoSINGFEEASSt)CA’flONFKESANDTAXES.67lII.CksngCosts.BuyerandSefler mustpoy,inGoodFunds,theirrespectivec[osingcostsandabotherhemsrequired672tohepaidat(losk,g.exceptasotherwiseprovidedherebi67315.2.ClosingServicesFee.Thefccibreaasta;eclosingservicesnitrsrhe‘aid atClosingbyBuyerSeller171flpne-H1tbyBu.erandOne-HalfbySellertOther—675—15.3.Status LetterandRecordChangefees.AtleastIburteendayspriortoClosingDate.Selleragreestopromptly676requesttheAssociationtodleertoBacurçdnlStatusI.ctler.AnyfeesincidenttotheissuanceofAssuciutionsStatusLette677mustbepaidhyYoneBrdllerLOne-HalfbyBuyerandOne-HalfbySeller.AnyRecordChangePeemust678bepaidby/NoneBuyerSOnehalfbyBuyerandOoe-llaIfb3Seller.67915.oca‘sferT.ThenealTransferTuof%ofthePurchasePricemustbepaidatClosingby680oneBuyerSellerac-HalfbyBuyerandOne-HalfbySeller.68115.5.PrivateTransfercc,PrivatenanstërfeesandotherfeesduetoatrarsferofthePriy,p;cj61eatClosinc,such682‘ommunityassociationfees.developerleesandfbundationiCes,mustbepaidatClosingbyV‘oneJI9uyerSdller613One—HalfbyBuyerandOne—HalfbySeller.ThePrivateTransferfee,whetheroneormore,o,6wthefbiloving184association(s):________inthe toi.damountof%ofthePurchasePriceor18515.6.WatertransferFees.TheWaterTransferfeescanchange,Thefees,asofthedateofthisContract,donotexceed6865for;687f_IWaterStock/CrtifleatesWater District688AugmentationMembershiSmallDomesticWaterCompany[J689and musthepaidatClosingbyNoneBuyerflSeller4One-HalfbyBuyerandOne-HalfbySeller.690157.SaLesandUseT’a.Anysalesandusetaxthatmayaccruebecauseofthistransactionmttatbepaidwhendueby691DNoneBuyerSellerC)ne-HalfbyBuyerantIOne-HalfbySeller.69215.8.FIR?fandColoradoWithholding.69315.8.1.FIR?FA.theInternalRevcnucService(IRS)mayrequiteasubstantialportionottheSeller’sproceedshe694withheldafterClosingwhenSellerisafoteignpersonIfrequiredwithholdingdoesnotoccur,thet3uyercouldbeheldliable for695theamountoftheSeller’stax,intetestandpenalties.IftheboxinthisSectionischecked.SellerrepresentsthatSellerJISa696foreignpersonforpurposeselLIS.incontetaxation.lttheboxinthisSectionisantchecked.SellerrepresentsthatSellerisnota697foreignpersonforpurposesofU.S.ineotactaxation.SelleragreestocooperatewithBuyerandClosingCompanytoprovideany698reasonablyrequesteddocumentstoveriivSeller’sforeignpersonstatus.Itwithholdingisrequired,SelierauthorizesClosing699CompanytowithholdsuchamountfromSeller’sproceeds.SellershouldinquirewithSeller’staxadvisortodetermineif700withholdingappliesorifottexemptionexists.70115.8.2.ColoradoWithholding.theColoradol)eparlmnntof’RevenuemayrequireaportionoftheSeller’s702proceedshewithheldafterClosingwltenSailorwillnotbeaColoradoresidentafterClosing,ifnototherwiseexempt.Sailer703agreestocooperatewithBuyerandClosingCompanytoprovideartyreasonablyrequesteddocumentstoecifySeller’sstatus,If704withholdingisrequired,Sellerauthurij’esClosingCotupanytowithttoldsuchamountfromSeller’sproceeds.Sellershouldintluire765withSeller’staxadvisortodetermineifwithholdingappliesorhanexemptionexists.70616.PRORATIONSANDASSOCIATIONASSESSMENTS.TheibllowingwillbeproratedtotheClosingDate,exceptas707othernisaprrts’ided70816.1.Taxes,Perso‘ropcr;vtaxes.ifany.specialtaxingdistrictasses5n;ents.if any,andgncrairealestatetaxesforthe709YearofClosittg.basedontaxesfortheCalendarYearImmediatelyl’reccdinClosingMostRecentMillLevyand710MostRecentAssess’Valuation,adjustedbyanyapplicablequaliftingseniorspropertytaxexemption,qualifyingUiyblc’d711vetera;texemptionorOther______________________71216.2.Rents.RentsbasedonRentsActuallyReccivtdcrued.AtClosing.Setterwilltransferorcreditto715BuyerthesecuritydepositsforallLeasesassigned,oranyremainderuserlawfuldeductionsandnutililltumiotsinwritingof’714suelttransferandofthetransferee’snameandaddress.SellermustassigntoBuyeralli_easesinelectatClosingandBuyermust715assumeSeller’sobligationsundersuchLeases.71616.3.AssociationAssessments.CurrentmgularAssociat;ottassessmentsanddues(AssociationAssessntents)paidin717advancewillhecreditedtoSelleratClosing.CashreservesheldoutoftheregularAssociationAssessmentsICrdeferred718maintenanceby’theAssociationwillnotbecreditedtoSellerexceptasmayheetlierssiseprovidedbytheGovernlnDocuments.719BuyeracknosvledgesthatBuyermayheobligatedtopaytheAssociation,atClosing,anamountforreservesorsikingcapital720AnyspecialassessmentassessedpriortoClosingBatebytheAssociationwillhetheobiigationof[jBuyer[Seller.Except721however,anyspecialassesstnentbytheAssociationICrimprovementsthathavebeeninstalledasofthedateofBuyer’ssignature722hereon.whetherassessedpriortoorafterClosing,will betheobligationofSeller.Sellerrepresentstherearenounpaidregularor723specialassessmentsagainstthePropertyexceptthecurrentregularossessmet,tsand—724AssociationAssessmentsaresubjecttochangeasprovidedintheGoverningDncutttents.dnsze.i$.CON’rrtACT10novANDsF:Lt..ru:At,ESTATI(INCOME—RESIDLNTIAI.)Page13of1901-22-19 TC PacketPage 33 of 5033 t6.3Other‘ron.zions.‘.\‘awrand1drts,pnpax,intesoncinwng:;niTd72516.5.FinalSttkment.Un1esot1;ecwsewrednwriting.theseproronsarfinu.72717.POSSESSION.Pt.ssionofthePwpen,‘i’hed&ivertcItoBuytr&nPssessioaDatePosscssionlime,subjecto72the Leasesassetfi.rihin10.61.7.729IfSdller,afterCiosinu.failstodekeerpossessionasspecified,SellerwitibesubeettoevictionandsillheadditionallyliableitOtoIeoro,.ttotSgQaopetda(oranypartola&no‘tyLittn*IllI)rimPossessionDateain73lPossessionlimeuntilpossessionisdelivered.732[GENERALPROVISIONS73318.DAYCOMPUThTIC)NOFPERIODOFDAYS,DEADLINE.73118.1.Day.AsusedinthisContract,theterm“day’meanstheentiredayendingat11:59p.m..UnitedStatesMountam735l’imetStandardorDayLightSavings,asapplicable).73618,2.ComputationofPeriodofDays,Deadline.Incomputingaperiodofdays(e.g.,threedaysafterMEC).whenthe737endingdateisnotspecifled,thefirstdayisexcludedandthelastdayisincluded.IfanydeadlinefhllsonaSaturday.Sunday or738federalorColoradostateholiday(Holiday).suchdeadlineWillWillNotbeextendedtothencxtdaythatisnuta739Saturday,SundayorHoliday.Should neitherboxhechecked,thedeadlinessillnotbeextended.74019.CAUSESOFLOSS,INSURANCE;DAMAGETOINCLUSIONSANDSERVICES;CONDEMNATION;AND741WAI.K-THROUGH.ExceptasotherwiseprovidedinthisContract,theProperty.Inclusionsorbothwillhedeliveredinthe742conditionexistingasofthedateofthisContract,ordinarywearandtearexcepted.74319.1.CausesofLoss.Insurance.IntheeventthePropertyorInclusionsaredamagedbyfire,otherperilsorcausesof74.1losspriortoClosing(PropertyDamage)inanamountofnot morethanteapercentof’thetotalPurchasePriceandiftherepairof745thedamagewiltbepaidbyinsurancetotherthanthedeductibletobepaidbySeller),thenSeller, uponreceiptoftheinsurance736proceeds.wiltuseSeller’sreasonableeffortstorepairthePropertyheibreClosingDate.BuyerhastheRightto‘t’errninateun,1c74725.1,onorhefhrcClosingDate,ifthePropertyisnotrepairedbeforeClosingDate,orifthedamageexceedssuchsum.Should745BuyCrelecttocarroutthisContractdespitesuchPropertyDamage.BuyerisentitledtoacreditatClosingforallinsurance739proceedsthatwerereceivedhs’SellerbutnottheAssociation,ifany)resultingiomdamauetothePropertyandInclusions,plus750theamountofanydeductibleprovidedtorntihinsurancepolicy.Th:screditmaynotexceedthePunchasePrrueIntiteevCnt751Sellerhasttotreceivedtheinsuranceproceedsprh.’rtoClosing,thepartiesmayagreetoextettdtheClositigDatetohavethe752PropertyrepairedpriortoClosingor, attheoptionofBuyer,11)SellermustassigntoBuyertherighttotheproceedsatClosing,if753acceptabletoSellersinsurancecompanyaridl3uyer’slender:or12)thepartiesmayenterintoastrittunagreementpreparedbythe754parties ortheirattorneyrequiringtheSellertoescrowatClosingtoinSeller’ssaleproceedstheamountSellerhasreceivedarid755willreceiveduetosuchdamage,notexceedinu,thetonsiPurchasePrice,titus theamountofanydeduct:blethatapuliestothe756insuranceclaim.75719.2.Damage,InclusionsandServices.ShouldanyInciusionorservice(inclcdinutilitiesanduu:rnmuuication752services),system,componentorfixtureoftheProperty(collectivciyService)(e.g..heatingorplumbing),Cdlorhe.larnaged75’SbetweenthedateofthisContractandClosingorpossession,whicheverisearlier,thenSellerisliablefbrtherepairorreplacement760ofsuchInclusionorServicewithaunitofsimilarsize,ageandqualit.oranequivalentcredit.hutonlytotheextentthatthe761maintenanceorreplacementofsuchInclusionorServiceisnottheresponsibilityoftheAssociatioti,if.rny.lessattyinsurance762proceedsreceivedbyBuyercoveringsuchrepairorreplacemeitt.It’thefailedordamagedInclusionorServiceisnotrepairedor703replacedonorbeforeClosingorpossession,whicheverisearlier,BuyerhastheRightto‘l’erminateuttder25.1,onorbefore764ClosingDate,or,attheoptionofBuyer,BuyerisentitledtoacreditatClosing fartherepairorreplacetueritofsuchInclusionor765Service.SuchcreditmustnotexceedthePurchasePrice.IfBuyerreceivessuchacredit.Seller’srightforanyclaitoagainstthe766Association,ifany,willsurviveClosing.76719.3.Condemnation.Inthe eventSellerreceivesactual noticepriortoClosingtltatapendingcortdemnationactionmay768resultinatakingofallorpartofthePropertyorInclusions,SellertriustpromptiynotifyBuyer,inwritinrr.ofsuch ccrndemnatton769action.BuyerhastheRighttoTeaninateunder§25.1,ottorbelbreClosingDate,isasedon suchcundetttnstiortaction,inBuyers770solesubjectivediseretiun.ShouldBuyerelecttocunsutntnatethisContractdespitesuchdiminutionofvaluetothePropertyand771Inclusions. BuyerisentitledtoacreditatClosing(hralleondcninatim:proceedsawardedtoSellerfarthediminutioninthevalue772ofthePropertyorInclusionsbtitsuchcreditwdlnotincluderelocationbenct;tsorexpenses,orexceedthePurchasePrice.77319.3.Walk-l’hroughandVerificationofCondition.Buyer,uponreasor.ablcnotice,hastherighttowalkthroughthe774PropertypriortoClosingtoverifythattheuhystcaleondttronofthePronertyandInclusionscomplieswiththisContract.77519.5.flame%‘nrrantv.SelleratidRoverareawareoftheexistenceofpre-osetiedhomewarranty programsthatmaybe776putchascdand maycovertherepairorreplacementofsuchlttclusions.CBS2.6-tS.CONTRACTTOBUYANDSELLREALESTATE(INCOME-RESIDENTIAL)t’ige19of1901-22-19 TC PacketPage 34 of 5034 77720.RECOMMENDATIONOfLEGALANDTAXCOUNSEL.BysigningthisContract.BuyerandSelleracknowledge778thattherespectivebrokerhasadvisedthatthisContracthasimportantlegalconsequencesandhasrceomrttendedtheexamination779oftitleandeonsukatmnwithlegalandtax orothercounselbeforesigningthisContract.78021.1MEOF ESSENCE,DEFAULTANDREMEE)1ES.Timeisoftheessenceforalldatesanddeadlinesinthis781Contract.Thismeansthatalldatesanddeadlinesarestrictandabsolute.Ifanyparnentdue,includingEarnestMoney.isnot782paid.honoredortenderedwhendue,orifanyobligationisno;perforn;edtimelyasprnsldedinthisContractorwaised.thenon-783dcfhultingpartyhasthefollowingmmedics:78421.1.ItflayerisinDefault:785fl21.1.1.SpecificPerformance.Sellermayelecttocanceltho;ContractandallEarnestMoneyfwhcthcrornotpaid786rtBuyer)svillhepaidtoSellerandretamedbySeller.ItisagreedthattheFurriestMoneyisnotapenaltyandthePartiesagreethu787amountisfairandreasonable.Sellermayrecoversuchadditiunaidamagesasmaybeproper.Alternatively,Sellermaelectto78%treatthisContractasbeinginFillfi2rceandeffectandSellerhastherighttospecttlcperiormance,ordamaucs.orboth.78921.1.2.Liquidated[)amages,Applicable.This§21.1.2appliesunlesstheboxin21.1.1.ischecked,Seller790maycancelthisContract.AllEarnestMoney(whetherornotpa:dbyBuyer)willhepaidtoSellerandretainedbySeller.Itis791agreedthattheEarnestMoneyspciliedin4.1isLIQUIDATEDl)AMACiESandnotapenalty,whichamountthepartiesagree792isIbirandreasonableand(exceptasprovidedin11114,22.23and24),saidpaymentofEarnestMoneyisSELLER’SONLY793REDYforBuyer’sfailuretoperformtheobligationsutthisContract.Sellerexpresslywaivestheremediesofspecific794performanceandadditionaldamages.79521.2.IISellerisinDefault:BuyermayeecttotreattitisContractascanceled,inwinchcaseallEarnestMoneyreceived796hereunderwillbereturnedtoBuyerandBuyermayrecoversuchdamagesasmaybeproper.Alternatively,Busermayelectto797treatthisContractasbeinginfullthreeandeffectandl3uyerhastherighttospecificpertbrmunec,ordamages.orboth.79822.LEGAl.FEES.COSTANt)EXPENSES.Anythingtothecontraryhereinnotwithsrand;ng,intheeventofanyarbitration‘79orlitigationrelatingtothisContrea:.priortoorafterClosingDate,thearbitratororcourtmustawardtotheprevailingpartyall800reasonablecostsattdexpenses,inc’ludincattorney!es.legalICesandexpenses.80180280381)480580%8078(1881192tMED1kCl(Ps.LIth-,se..Ui.rr*n5-esthiss’.h:ther.,,,toatte,Iloi.t.s..,d:i—asnh...&tl...dcsmualfirstaaifttitli,umii.Meitisni-r.pmeeUnU.,Lthethl,,a,,.,,,,,nrnresolveshe-diaputeh%l1y-a:rd-enfidcrJhti}yMcdiotori000cotimpoec-b-indingdo-iakreu.ilafornanyrndhrt.JsettlarnaniindiathepestlestothatilaFutomu&ttigruetoth’—t.ettlemt,,t,..v,’riiis.The,erties.-.dljahti:uUll.ffUtheeastnf.UtaethatU.TheohlintientemedintenlniathrwIaugraed,willtorminotoifthaunthe’4sthiathirtydoyaofthedates.ttcnneticucatingmcdin6rmis deliveredbyen:pyintheot+Us.,arrs’s)-U..,ddres,,1ph.icJotJctro..Uaain27).NcthingirrthisEcetionprahibirehh;,crtyfnmslUgahnmUtg,,ijreerrdla.‘i..p:,.ieruaffectingthePropocly,belisraerafterthedutrF,’rittenn5tisroreaue.,Lrtb,,ed...tiofl.—.,‘,“—it,.,I...,,,iS...,-.,4-,..,.,.,,‘riBSOtttR?tt0iiiOUiltdiLJu40ii81024.EARNESTMONEYDISPUTE,Exceptasotherwiseprovidedherein,EarnestMotteyHoldermostreleasetheEarnestSitMoneyfollowingreceipt ot’writtenmutualinstructions,signedbybothBuyer.stidSeller.Intheuvetttofanycontroversyregarding812theEarnestMoney,EarnestMoneyIloftIerisnotrequiredtoreleasetheEarnestMoney.EarnestMoneyIlolder,initssole813subjectivediscretion,hasseveraloptions:(1)waitforattyproceedingbetweenBuyerandSeller;(2)interpleadallpartiesand813depositFames:Mone3intoacaurtofcompetentiuriadiction(EarnestMoneyholderisentitledtorecovercourtcostsand815reasonableattorneyandlegalfeet;interredwithsuchetionl;or(3)providenoticetoBuyerandSelicrthatunlessEarnestMoney816HolderreceivesacopyoftheSummonsandComplaintorClaim(betweenBuyerandSeller)containingtheeasenumberof’the817lawsuit(l..awuit)withittonehundredtwentydaysofEarnestMoneyHolder’snoticetotheparties,EarnestMoneyHolderis81%authoriiedtoreturn theEarnestMonetoI3uyer.IntheeventEarnestMoneylioldardoesreceiveacopyoftheLawsuitandhas819notinterpledthemoniesatthetimeofanYOrder.EarnestMoneyHoldermustdisbursetheEarnestMoneypurstianttotheOrder82001theCourt._.d’il!SLdUtjiii).ThisSecttonwillsurv;vecancellationorterminat:onot’this621Contract.82225.TERMINAI’tON.82325.1.RighttoTerminate.Ifapartyhasarighttoterminate,asprøvidcdinthisContract(RighttoTerminate),the824terminationiseffectiveupontheotherparty’sreceiptofawrittennoticetoterminate(‘NoticetoTerntinate),providedsuchwritten825noticewasreeivedonorbeforetheanplicabledeadlinespecifiedinthisContract,IftheNoticetoTerminateisnotmcceivedonor826beforethespecifieddeadline,thepartywiththeRighttoTerminateacceptsthespecifiedtnattcr,documentorconditionas827satisfactoryandsvaivestheRighttoTerminateundersucltprovision.82825,2.EffectofTermination.IntheeventthisContractister;ninated,allEarnestMoneyreceivedhereunderssilibe829returnedtoBuyerandthepartiesarereliesedofallobligationshereunder,subectto§10.4,22,23aitd24.:0S2-6-lt.CONTRACtTOIWYANflSEI,i.REALESTAtE(JNC’t)ME—Rt2SIDLNTtAI.tPageIt;‘iiI’)01-22-19 TC PacketPage 35 of 5035 83026.ENflREAGREEMENT,MODIFICAT1ON,SURVIVAL;SUCCESSORS.ThisContract.itsexhibitsandspecified831addenda,constitutetheentire agreementbetweenthepartiesrelatingtothesubecthereofandanyprioragreementspertaining832thereto,whetheroralorwritten,havebeenmergedandinteatratedintothisContract.Nososecuentmodiflcationofanyofthe833termsofthis Contractisvalid, bindingupontheparties,orenforceableunlessmadeinwritingandsignedbytheparties.Anyright834orobligationinthisContractthat,byitsterms, existsorisintendedtobepcrfbrmedafterterminationorClosinasurvivesthe835same.Anysuccessortoapartyreceivesthepredecessor’sbenefitsandobligationsofthisContract83627.NOTICE,DELiVERYANDCHOICEOfLAW.83727.1.Physical DeliveryandNotice.Anydocument,ornoticetoBuyerorSeller mustheinwriting,exceptasprovidedin83827.2andiseffectivewhenphysicallyreed;edbysuchparty.anyindividualnamedinthisContracttoreceivedocumentsor839noticesforsuchparty.Broker,orBrokerageFirmofBrokerworkingwithsuchparty(exceptanynoticeordeliveryafterClosing840mustbereceivedbytheparty,notBroker or BrokerageFirm)84127.2.ElectronicNotice.Asanalternativetophysicaldebvery, anynotice,maybedeliveredittelectronicfbrmtoBuyer842orSeller,anyindividualnamedinthisContracttoreceivedocumentsornoticesforsuchparty,BrokerorBrokerageFirmof843Brokerworkingwithsuchparty(exceptamynoticeordelixeryafterClosingmustbereceivedbytheparty,notBroker or844BtoketaFont)attheelectronicaddressofnrecaptnthtatimatetnulorstgnaturesdaHvegdelectronicall..84527.3.ElectronicDelivery.ElectronicDeliveryofdocumentsandnoticemaybedeliveredby:(1)emailattheemail846addressoftherecipient,(2)a linkoraccesstoawebsiteorserver providedtherecipient receivestheinformationnecessaryto837accessthedocuntents.or(3)facsimileatthefitesimilenumber(FaxNo.)oftherecipient.84827.4.Choiceof Law.ThisContractandalldisputesarisinghereunderaregovernedbyandconstruedinaccordancewith849thelawsoftheStateofColoradothatwouldheapplicabletoColoradoresidentswhosignatcontractinColoradolhrrealproperty650locatedinColorado.85128.NOTICEOFACCEPTANCE,COUNTERPARTSThisproposalwillexpireunlessacceptedtttwriting,byBuyerand852Seller,asevidencedbytheirsignaturesbelowandtlteodbringpartyreceivesnoticeofsuchacceptancepursuantto*27onor853beforeAcceptanceDeadlineDateandAcceptanceDeadlinelime.tfaccepted.thisdocumentwillbecomeacontractbetweeat854Sellerandlluyer.AcopyofthisContractmaybeexecutedbyeachparty.separatelyandwheneucltpartyhasexecutedacopy855thereotsuchcopiestakentogetheraredeemedto heafullandcompletecontractbetweentheparties.85629.GOODFAITH.BuyerandSelleracknowledgethateachpartyhasanobligationtoactingoodfaithincluding,butnot857limitedto.exercisingtherightsandohiigationssetforthintheprovisionsofFinancingConditionsandObligations:Title858Insurance,RecordTitleandOfLRecordTitle:New1Ff’,NewSurvey;andProperty Disdusure,inspection,Indemnity,859Insurability,DueDiligence,andSourceofWater.860ADDITIONALPROVISIONSANDATTACHMENTSI86t30.ADDITIONALPROVISIONS.(TheIdllowingadditionalprovisions havenotbeennprovadbytheCelotaidoRealEstate862Commission.)863SeeAdditionalProvisions30.1,302,30,3and30.4whichareattachedheretoasExhibit“A”andareincorporatedhereinandmadeapartofthisContract.8668678683t.OTHERDOCUMENTS.86931.1ThefollowingdocumentsareapartotthisContract:8708718726733t2,ThefollowingdocumentshavebeeaprovidedbutarenotapartofthisContract:87$876SIGNATURES878Buyer’sName:mc/v.:asBuyer’sNante:__________________________C1182.6.16,CONTRACTTO111WANDSELLREALESTATEfINCOtiERESIDENTIALI‘iia17efIC01-22-19 TC PacketPage 36 of 5036 iiAfrIBuyersSignatureDateBoyersSignatureDateAddrcss:‘30KesneRoetAddress:P.O.8xa0O?honeNo.:t7O-323777_______PhoneNo.:_______________________FaxNo.:tt70-92360a3________FaxNo.:_________________________EmailAddress:rytcwAadress:791OTE;Cfthisofferisbeingcounteredorrejected,donotsignthisdocument,Seller’sName:Oar-aq,LCCSeller’sName:Seller’sSigna_—DateSeller’sSignatureDateAddress:455NMCOccI.3a5-i04Address:PhoneNo.:PhoneNo.:FaxNo,:_________________FaxNo.:________________________________EmailAddress:_____________EmailAddress:____________ENDOfCONTRACTTOBIIYANDSELLREALESTATE32.BROKER’SACKNOWLEDGM1.N[SANDCOMI’FNSATIONDISCLOSURE.Ifbecompletedi,BrokerorkingwithBuyer)BrokeroesoesNotacl:newledgereceIptofEarnestMoneydeposit.Brokeragrces’,hatifBrokerapeFirmistheEarnestMoneyolderanu,except.asprovidedin24,iftheEarnestMoneyhasnotalreadybeenreturnedfollowingreceiptofaNoticeto‘terminateorotherwrittennoticeoftermination,EarnestMoneyHolderwillreleasetheEarnestMoneyasdirectedbythewrittenmutualrnstructwns.Suchreleaseof’EarnestMoneywillhemadewithinfivedaysofEarnestMoneyHolder’sreceptoftheexecutedwrittenmutualinstructions,providedtheEarnestMoneycheckhascleared.AlthoughBrokerisnotapartytotheC’otttract,Brokeragreestocooperate,uponrequest,withanymediationrequestedunder§23.BrokerisoorkiztgwithBuyerasaDBuyer’sAgentDIransactiun_BrokerinthistransactionfrltisisaChangeofStatus.Ljcustomer.BrokerhasnobrokeragerelationshipwithBuyer,See§33tdrBroker’sbrokeragerelationship;ithSeller.BrokerageFirrnscompensaticnorcommissionistobepaidby..istingBrokerageFirmDuyerDtberBrokerageFirm’sName:____________________________________________BrokerageFirm’sLicense#:_________....Broker’sName:____________________________________________________________________________________Broker’sLicense#‘:Broker’sSignatureDateAddress:__________________________________Phone No.:_______________________________________Ct1S2-tt8,COiRkC1TOBUYAM)SElLREAL.ESTATEtIMOME—’RESIOENTtM.)tsge18oilS01-22-19 TC PacketPage 37 of 5037 haxNo.:EmailAddress:33.BROKER’SACKNOWLED(MENThANDCOMPENSATIONI)ISCLOSIJRE.(TobecomnietedbyBrokerworkingwithSeller)ArkOrEflOcs)oesNotacknowledgereceiptofEarnestMoneydeposit.BrokeragreesthatifBrokerageFirmistheEarnestMoseyHolderen,exceptasprovidedin24.iftheEarnestMoneyhasnoratreadbeenreturnedfol!owinreceiptofaNoticetoTerminateorother writtennoticeoftermination,EarnestMoneyHolderwillreleasetheEarnestMoneyasdirectedbytherltterimutualinStructions.SuchreleaseofEarnestMoneywill bemadewithintivedaysofEarnestMoneyHoldcrsreceiptoftheexecutedwritten mutualinstructions,providedthe EarnestMoneycheckhascleared.AlthoughBrokerisnotapartytotheContract,Brokeragreestocooperate,uponrequest.withanmediationrequestedunder§23.BrokerisworkingwithSellerasajSelIer’sAgent‘ransaetion-Brokerinthistransaction.1rhisisaChangeofStatus.UCustomer,BrokerhasnobrokeragerelationshipwithSeller.See§32thrBrokersbrokeragerelattonshipwithBuyer.l3rokerageFirm’scompensationorcommissionistohepaidbyBrokeraceFirrrisName:_____________________________________________________________________________________BrokerageFirm’sLicense__________________________________________________________________________________________BrokersName:BrokersLicense#:_________________________________________________________________________________________________Broker’sSignatureDateAddress:_________________ _____________________________________________________________PhoneNo.:FaxNo.:_______________________________________________________________________EmailAddress882CBS24-t.CONTRACITOBUYANDSELLREALESTATE(INCOME—RESIDENTtAL)Pt9DIItS01-22-19 TC PacketPage 38 of 5038 Exhibit“A”ToContracttoBuyandSellRealEstate(Income—Residential)byandbetweenTownofSnowmassVillageandCarriage,LLCDatedJanuary14,201930,AdditionalProvisions.30.1 OnceexecutedbyBuyerandSeller,thisContractshallremainconditional,subjecttoapprovalbyanaffirmativevote ofamajorityoftheTownCouncilonaResolutionattheregularTownCouncilmeetingon]anuary22,2019,toenterintotheContract.UponsuchavotebytheTownCouncil,theforegoingconditionshallberemoved,andtheContractshallbecomebindingandthedateoftheContractwillbethedateofsuchaffirmativevote.IntheeventthereisnotanaffirmativevoteonsuchaResolutionatsaidmeeting,thisContractshallautomaticallyterminate.30.2TheabbreviationTCA”inSection3.1DatesandDeadlinesmeansthedateofTownCouncilApproval’.30.3Section2.2oftheContractshallbeeffectiveexceptthatthisContractmayonlybeassignedtoasingle-purposeentityformedbyTownofSnowmassVillage30.4BuyerorSellermayuponwrittennoticedemonstratinggoodcausetotheother,extendanyDatesorDeadlinesinSection3.1forthirtydays.BuyerandSellermay alsomutuallyagreetoamendorextendanyDatesandDeadlinesorotherperformancesbyexecutinganAmend/ExtendAgreement.01-22-19 TC PacketPage 39 of 5039 Town of Snowmass Village Agenda Item Summary DATE OF MEETING: January 22, 2019 AGENDA ITEM: Ordinance No. 01, Series of 2019-AN ORDINANCE AMENDING THE 2019 BUDGET FOR THE HOUSING FUND FOR THE TOWN OF SNOWMASS VILLAGE; AND DECLARING AN EMERGENCY. PRESENTED BY: Clint Kinney, Town Manager Marianne Rakowski, Finance Director BACKGROUND: Assuming Resolution No. 06, Series of 2019 is passed, Ordinance No. 01, Series of 2019 needs to be approved. The ordinance revises the 2019 Housing Fund budget to add $130,000 to the 2019 budget and to appropriate that $130,000 for expenditure in 2019. The $130,000 is needed to fund the $100,000 in earnest money and the estimated $30,000 in due diligence expenses related to items such as a survey, appraisal, etc. to purchase 250 Carriageway. It is presented as an Emergency Ordinance because the opportunity to acquire Carriage Subdivision, Lot 1 (250 Carriageway) at an advantageous price and on favorable terms and conditions may be lost due to market conditions if not acted on immediately. FINANCIAL IMPACT: The 2019 adopted Housing Fund budget is anticipated to have $1,058,957 in funds available at year end. The $130,000 will come from the funds available, thereby reducing the balance to $928,957. APPLICABILITY TO COUNCIL GOALS & OBJECTIVES: This purchase would meet the Council goal of Affordable Housing: Strategically increasing the amount of affordable housing in the Village and ensuring it is balanced with the actual need is critical. Providing a variety of affordable housing 01-22-19 TC Packet Page 40 of 50 40 options within the Village not only enable community members to contribute to the local economy, it also helps to build a strong, well connected, and engaged community. We will actively pursue the long-standing goal of housing those of our fulltime workforce that want to live in the community. It is especially important to explore opportunities that offer a wide array of options to accommodate multi-generational housing needs from seniors to young professionals. COUNCIL OPTIONS: 1. Adopt, amend or do not approve Ordinance No. 01, Series of 2019 STAFF RECOMMENDATION: Adopt Ordinance No. 01, Series of 2019. ATTACHMENTS: Ordinance No. 1, Series of 2019 Housing Fund – 2019 Adopted Budget 01-22-19 TC Packet Page 41 of 50 41 TOWN OF SNOWMASS VILLAGE 1 TOWN COUNCIL 2 3 ORDINANCE NO. 01 4 SERIES OF 2019 5 6 7 AN ORDINANCE AMENDING THE 2019 BUDGET FOR THE HOUSING FUND FOR 8 THE TOWN OF SNOWMASS VILLAGE AND DECLARING AN EMERGENCY. 9 10 WHEREAS, Clint Kinney, Town Manager, has submitted a request to change the 11 2019 Adopted Budget; and 12 13 WHEREAS, the proposed 2019 amendment includes a change to the Housing 14 Fund; and 15 16 WHEREAS, the Housing Fund is revised to include expenditures for earnest 17 money and costs related to due diligence for the potential purchase of Carriage 18 Subdivision, Lot 1 with street address of: 250 Carriageway in Snowmass Village; 19 and 20 21 WHEREAS, the Town of Snowmass Village Home Rule Charter requires 22 adjustments to the budget when circumstances change relating to the budget; 23 and 24 25 WHEREAS, Section 1.4 of the Charter of the Town (the “Charter”) authorizes the 26 Town Council of the Town (the “Council”) to acquire property for any purpose 27 deemed by the Council to be in the best interests of the Town by purchase, gift, 28 lease or condemnation and to sell, lease, mortgage, hold, manage and control 29 such property as the Council may determine; and 30 WHEREAS, pursuant to Section 10.11 of the Charter as well as the general-law 31 powers of Colorado municipalities as incorporated by Sections 1.2, 1.3 and 1.4 of 32 the Charter, the Council is authorized to enter into contracts and buy and sell 33 property; and 34 WHEREAS, the Council has determined and hereby determines that it is in the 35 best interests of the Town and its citizens and inhabitants that the Town acquire 36 Carriage Subdivision, Lot 1; and 37 WHEREAS, the Council has determined that it is necessary, desirable and 38 appropriate and in the best interests of the Town and its citizens and inhabitants 39 that the Town finance the cost of acquiring Carriage Subdivision, Lot 1; 40 WHEREAS, to fund the earnest money and related costs for the purchase of 41 Carriage Subdivision, Lot 1, the Town Council will need to budget and 42 appropriate funds immediately to complete the provisions of the contract, thereby 43 01-22-19 TC Packet Page 42 of 50 42 adopting this ordinance by the emergency ordinance procedures set forth in the 44 Home Rule Charter. 45 46 NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of 47 Snowmass Village, Colorado: 48 49 50 Section One: Revised Budget 51 That the Town of Snowmass Village 2019 budget for the Housing Fund be 52 adjusted to include the below amendments. 53 54 Section Two: Appropriation 55 That the below 2019 revised expenditures are hereby appropriated for 56 expenditure during the 2019 budget year. 57 58 59 Town of Snowmass Village Budget Changes - 2019 Revised Budget 2019 Expenditures Housing Fund $ 130,000 TOTAL $ 130,000 60 61 62 Section Three: Emergency Declaration 63 Because the Council has determined that the opportunity to acquire 64 Carriage Subdivision, Lot 1 at an advantageous price and on favorable 65 terms and conditions may be lost due to market conditions if not acted on 66 immediately, the Council has determined that it is advisable to proceed 67 immediately fund the earnest money and other related costs for the 68 purchase of Carriage Subdivision, Lot 1 as described in this ordinance, 69 and therefore, a public emergency is declared to exist, this ordinance is 70 declared to be necessary for the immediate preservation of the public 71 property, health, welfare, peace and safety, and this ordinance shall be in 72 full force and effect immediately upon final passage and adoption at a 73 single meeting upon Council approval as required by Section 4.10 of the 74 Charter. 75 76 77 78 79 01-22-19 TC Packet Page 43 of 50 43 Section Four: Effective Date 80 This ordinance shall be in full force and effect immediately upon final 81 passage and adoption by the Council as required by the Charter. This 82 ordinance upon such final passage shall be published by title and 83 summary thereof in a newspaper of general circulation in the Town within 84 10 days after adoption. 85 86 Such notice shall be in substantially the following form: 87 88 OFFICIAL NOTICE IS HEREBY GIVEN that on January 22, 2019, the Town 89 Council approved as an emergency measure an ordinance titled as follows: 90 91 AN ORDINANCE AMENDING THE 2019 BUDGET FOR THE 92 HOUSING FUND FOR THE TOWN OF SNOWMASS VILLAGE AND 93 DECLARING AN EMERGENCY. 94 95 96 The proposed Ordinance provides for the Town's for a budget amendment to the 97 2019 Adopted Budget to fund earnest money and related costs for the purchase of 98 Carriage Subdivision, Lot 1. The Ordinance has been adopted as an emergency 99 measure and, in accordance with the Town Charter, has become effective upon 100 passage. 101 102 IN TESTIMONY WHEREOF, the Town Council of the Town of Snowmass 103 Village, Colorado has caused this notice to be dated this January 22, 2019. 104 (SEAL) 105 /s/ Rhonda B. Coxon 106 Town Clerk 107 Snowmass Village, Colorado 108 109 110 111 (End of Form of Notice) 112 113 01-22-19 TC Packet Page 44 of 50 44 INTRODUCED PASSED AND ADOPTED this January 22, 114 2019 as an emergency measure. 115 116 __________________________________ 117 Markey Butler, Mayor 118 119 120 Attest: 121 122 123 124 Rhonda B. Coxon, Town Clerk (SEAL) 125 126 127 128 Approved as to Form: 129 130 131 ________________________________ 132 John C. Dresser, Jr. 133 134 01-22-19 TC Packet Page 45 of 50 45 Whereupon it was duly moved and seconded that the foregoing ordinance 135 be now passed and adopted as an emergency measure. The question being upon the 136 adoption of said motion and the approval of the ordinance as an emergency measure, the 137 roll was called with the following result: 138 Those Voting Yes: Those Voting No: Those Absent: 139 The presiding officer thereupon declared that there having been an 140 affirmative vote of at least three members of the Council, the ordinance was duly adopted 141 as an emergency ordinance. 142 143 __________________________________ 144 Markey Butler, Mayor 145 146 (SEAL) 147 148 149 Attest: 150 151 152 153 Rhonda B. Coxon, Town Clerk 154 155 156 Approved as to Form: 157 158 159 ________________________________ 160 John C. Dresser, Jr., Town Attorney 161 162 01-22-19 TC Packet Page 46 of 50 46 01-22-19 TC PacketPage 47 of 5047 Town of Snowmass Village Agenda Item Summary Date of Meeting: January 22, 2019 Agenda Item: RESOLUTION NO. 05, SERIES OF 2019 A RESOLUTION APPOINTING MEMBERS TO THE PLANNING COMMISSION AND THE MARKETING, GROUP SALES AND SPECIAL EVENTS BOARD Presented By: Rhonda B Coxon, Town Clerk Background: Section 8.3 of the Home Rule Charter states that members of all boards and commissions shall be appointed by the Town Council. The vacancies have been publicly posted and published. The Town received more applications than open seats for the Planning Commission and the Marketing, Groups Sales and Special Events Board. The Town Council conducted interviews and would like to appoint those applicants included in the attached Resolution No. 05, 2019. Financial Impact: N/A Council Options: 1. Approve 2. Modify 3. Deny Staff Recommendation: Approval ATTACHMENTS: Resolution No. 05, Series of 2019 01-22-19 TC Packet Page 48 of 50 48 I 2 J 4 5 6 7 8 9 l0 ll l2 l3 t4 l5 16 17 l8 t9 20 21 22 23 24 25 26 27 28 29 30 3l 32 JJ 34 35 36 37 38 39 40 4t 42 43 44 45 46 47 48 49 TOWN OF SNOWMASS VIL TOWN COUNCIL RESOLUTION NO. 05 SERIES OF 2019 A RESOLUTION APPOINTING MEMBERS TO THE PLANNING COMMISSION AND THE MARKETING, GROUP SALES AND SPECIAL EVENTS BOARD. WHEREAS, Section 8.3 of the Home Rule Charter states that members of all boards and commissions shall be appointed by the Town Council; and WHEREAS, the terms of members on certain boards and commissions have expired and resignations have been submitted; and WHEREAS, vacancies have been publicly posted and published in accordance with the terms and conditions of the Home Rule Charter; and WHEREAS, the following citizens have submitted applications expressing a desire to be appointed; and WHEREAS, the Town Council has interviewed the applicants and have appointed the following people to the vacant positions. NOW, THEREFORE BE lT RESOLVED by the Town Council of the Town of Snowmass Village, Colorado: That the following citizens are hereby appointed to serve as follows: Section One:Appointments and Terms 3 - 3yrTermsPlanning Commission Brian Marshack Mone (Jim) Anathan Laura Rice Marketing, Group Sales and Specia! Events Board Food and Beverage lndustry 3 yr Term Joanna Mallory Graczynski Lodging lndustry 3 yr Term Mary Harris At Large 3 yr Term John Kenny INTRODUCED, READ AND ADoprED, the Town council of the rown ofsnowmass Village, colorado, on the 22nd day of January 201g with a motion E 01-22-19 TC Packet Page 49 of 50 49 50 5l 52 53 54 55 56 57 58 59 60 6l 62 63 64 made by Council Member and seconded by Council Member _ and by a vote of _in favor to _ opposed. TOWN OF SNOWMASS VILLAGE MARKEY BUTLER, Mayor ATTEST: RHONDA B. COXON, Town Clerk 01-22-19 TC Packet Page 50 of 50 50 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* M ailing Addre ss Are you a pe rmane nt re side nt? Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Brian Marshack 9702740303 bmarshack@gmail.com bmarshack@gmail.com City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country US Street Address 509 Oakridge Road Address Line 2 Yes No City Aspen State / Province / Region CO Postal / Zip Code 81612 Country US Street Address PO Box 8530 Address Line 2 51 Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Why do you wish to be appointe d to this position?* Signature * Date Yes No Yes No Over the last 30 years I have enjoyed a diverse career in the property development and investment industry, specializing in multifamily residential, urban redevelopment, low- income housing, specialty retail, and mixed-use ventures. As the principal director of Cityview Properties, a commercial real estate investment, brokerage, consulting, and development firm located in Southern California, I worked primarily on complex redevelopment and infill development projects in San Diego, Los Angeles, and Denver, Colorado. Representative partners and clients included Wal-Mart, Price REIT, Flemming Foods, Edwards Cinemas, Planet Hollywood, the Virgin Group, the Cheesecake Factory, Watson Properties, Simon Properties, and Trizec Hahn. Notable projects that I have participated in include the Downtown San Diego Centre City master plan; the Hollywood Galaxy and Hollywood and Highland developments, Los Angeles, CA; 5th Street Promenade, Oceanside, CA, Horton Plaza, San Diego, CA; Bridgeworks, San Diego, CA; Main Place Mall, Santa Ana, CA, and the proposed Wynkoop Square, Brickworks, and Ironworks developments, Denver, CO. In addition I was the founding director of housing and community development for one of Denver’s largest non-profit organizations, leading initiatives on low-income housing development, implementing a first-time home ownership program, and coordinated neighborhood economic development and investment. I have also worked in Kampala, Uganda as a consultant for a proposed $25 million children’s hospital as well as volunteered on the planning and construction of a children’s home and medical clinic in Fort Portal, Uganda. I graduated from the University of California, San Diego with degrees in Urban Studies and Planning, and Economics. I have a diverse background in property development and real estate development with a strong educational background and and professional training in land use planning and design, zoning, entitlements, and finance. I have lived in Snowmass Village for 13 years and I would like to become more involved with the community in the coming years. I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 11/27/2018 52 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* M ailing Addre ss Are you a pe rmane nt re side nt? Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Mone Anathan 6172306455 manathan1@me.com manathan1@me.com City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country United States Street Address 0160 Snowmass Club Circle Address Line 2 Yes No City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country United States of America Street Address PO Box 5847 Address Line 2 53 Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Why do you wish to be appointe d to this position?* Signature * Date Yes No Yes No I have served for the last two years on the Planning Commission. Previously, I was a CEO of a large publicly listed company and along the way, was directly responsible for construction of fifty 25k retail stores and a 750k distribution facility. I've enjoyed my experience on the Commisssion and my work on the development of the Comprehensive Plan expanded my knowledge of the community and provided a stronger foundation for assisting the ToSM in the future. I care deeply about Snowmass and want to beinstrumental in maintaining its rural character and culture. I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 11/9/2018 54 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* Are you a pe rmane nt re side nt? Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Laura Rice 3036536634 laura@theboulderdesigngroup.com laura@theboulderdesigngroup.com City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country US Street Address P.O. Box 5957 Address Line 2 193 Fairway Dr Yes No Yes No Yes No 55 Why do you wish to be appointe d to this position?* Signature * Date I have spent much of my 20+ year career working with both large and small companies helping them grow and elevate their brands. In addition to my marketing background, over the last few years I have been deeply engaged in home design and remodeling, giving me a much better understanding of the design and construction challenges Snowmass must address to protect and build this amazing "brand" we get to call home. As a full-time resident who loves living in Snowmass, I'd like to play a greater role in helping shape Snowmass's future. It is important we keep the charm and beauty that makes Snowmass so special while building out an infrastructure for the town that will accommodate long-term growth. I believe my unique skills in Design and Branding will balance other members of the Planning Commission who bring more Architectural and Construction backgrounds to the table I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 12/11/2018 56 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Ple ase se le ct the se at you wish to fill on the M arke ting Board:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* M ailing Addre ss Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Food & Beverage Lodging Retail At-Large Aspen Ski Co Ex-Officio Joanna Graczynski Mallory 970 923 0915 970 948 8067 jmallory@snowmassclub.com jmallory@snowmassclub.com City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country USA Street Address 163 Stallion Circle Address Line 2 Yes No 57 Are you a pe rmane nt re side nt? Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Why do you wish to be appointe d to this position?* Signature * Date City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country USA Street Address Po Box 6974 Address Line 2 Yes No Yes No I have spent over 23 years working through the retail and hospitality industries. From scanning groceries on the front line, to service supervisor and staff trainer and now working as Membership (sales) and Marketing Director at the Snowmass Club. I hold a Bachelor of Commerce from Australia with a double major in Marketing and International Business.I know what it takes to bring ideas forth, listen to needs and always wanting to learn and further grow personally as well. I feel that I can contribute a vast variety of experience across many fields. I would be honored to represent and participate in further building on all the wonderful things that are happening in Snowmass for both locals like myself, and our visiting guests. Like many locals I come to the mountains to teach skiing for one year and the rest is history. I love our little town and excited to be raising my family here! I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 12/12/2018 58 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Ple ase se le ct the se at you wish to fill on the M arke ting Board:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* Are you a pe rmane nt re side nt? Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Food & Beverage Lodging Retail At-Large Aspen Ski Co Ex-Officio Mary Harris 970-923-4000 970-309-1282 mharris@thetimberline.com mharris@thetimberline.com City Snowmass Village State / Province / Region CO Postal / Zip Code 81615 Country United States Street Address 184 Rodeo Road Address Line 2 Box 5538 Yes No 59 Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Why do you wish to be appointe d to this position?* Signature * Date Yes No Yes No I have 35 years of resort hospitality experience in Snowmass Village. I have extensive background in sales and marketing working for hotels and condominium properties: The Crestwood, SVRA, Silvertree/Wildwood, Pokolodi, Snowmass Mountain Chalet. I was General Manager of the Snowmass Mountain Chalet for 8 years and for the last 12 years I have been managing the Timberline Condominiums. I opened the Edge Restaurant and Bar 6 years ago. I have served on the MGS&SE Board for the last 3 years. I was on the SVRA Board for many years and helped with the dissolution and transition to the TOSV. I served on the Stay Aspen Board for many years, Past President of Snowmass Lodging Association, President of Snowmass Village Community Foundation, International Marketing Partnership, Certified Manager Community Associations. I serve on the Marketing, Group Sales and Special Events advisory committees. It's a very exciting time for Snowmass with the Base Village development, the Center redevelopment, and new owners at the Snowmass Club and the Mall. We have seen many positive and exciting changes in Snowmass over the last 3 years! I would like to continue serving on this Board to keep this positive momentum going, pushing Snowmass with increased bookings for the lodging community and help make the restaurant and retail community become one of the best in Colorado. I know this Village well from living and working here for the last 35 years. I know the members of the community. My past employment has given me a great understanding of large and small lodging property operations, clientele and business strategies. I am well connected with the lodging community in Aspen and the Roaring Fork Valley. This group often contacts me for advice, feedback and updates and I feel I am an excellent representative for them. I strongly believe in working as a TEAM. We need everyone here to be happy and successful. I am passionate about this wonderful community and I am here to work hard to represent ALL lodges, as well as all groups. I ask that you elect me for a second term on the MGS&SE Board. I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 11/21/2018 60 Apply for a Board or Commission Thank you for your interest in one of our Boards or Commissions! Please select which board you are applying for and complete the form below. Ple ase se le ct the Board or Commission you are Applying For:* Ple ase se le ct the se at you wish to fill on the M arke ting Board:* Full Name * Phone Numbe r Se condary Phone Numbe r Email * Confirm Email * Addre ss Is your M ailing Addre ss diffe re nt than the Addre ss Abov e ?* M ailing Addre ss Board of Appeals & Examiners Citizens Grant Review Board Environmental Advisory Board Financial Advisory Board Marketing, Group Sales, & Special Events Board Parks, Open Space, Trails, & Recreation (POSTR) Board Part-Time Residents Advisory Board Planning Commission Snowmass Arts Advisory Board Food & Beverage Lodging Retail At-Large Aspen Ski Co Ex-Officio John Kenny 917-971-6224 970-924-9680 jkenny@romero-group.com jkenny@romero-group.com City SMV State / Province / Region CO Postal / Zip Code 81615 Country USA Street Address 147 Maple Ridge Ln Address Line 2 Yes No 61 Are you a pe rmane nt re side nt? Are you re giste re d to v ote in Snowmass Village ? Ple ase list your e xpe rie nce and/or e ducation that qualifie s your for this position.* Why do you wish to be appointe d to this position?* Signature * Date City SMV State / Province / Region CO Postal / Zip Code 81615 Country USA Street Address PO Box 5934 Address Line 2 Yes No Yes No 27 Years of Sales/Marketing Experiences I am passionate about the quality of our magnificent area, and am an itinerant proselytizer for Snowmass/Aspen. I acknow ledge that I am familiar w ith the qualifications, duties, and responsibilities of the position for w hich I am applying and, if appointed, I am ready, w illing, and able to take an oath as w ell as accept the responsibilities and duties. 12/16/2018 62