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10-06-14 Snowmass Acquisition Company " �.. . � 016/0 - o �( - lC- Snowmass Acquisition Company LLC Application for Minor PUD Amendment � �� # i' tr.,--7, PI '., L �,,,-- - ��ok October 6, 2014 ' • y OP C R ELATED fg t Response to Staff Comments Development Agreement TOSV Staff Comments Applicant's Revised Proposal Definition of Denial Deleted "A denial also includes Town action that is subsequently Agreed reversed by court order, reconsideration or referendum." Event of Force Majeure changed "Town Council"to "Town" Agreed Definition of Mobilization Added "together with the visible commencement of actual Agreed and Suggest—"together with the visible / \, c,_ operations on the ground for the erection of the building,which commencement of actual operations on the ground, ' everyone can readily recognize as commencement of a building, which is readily recognizable by the Town's Chief `� and which is done with the intention to continue the work until Building Official." the building is completed." 1.1(a)Vested Property Rightsr,k Deleted"Unless expressly provided to the contrary therein,all Disagree—This language is from the originally modifications and amendments to the Ordinance or any other approved Development Agreement,Section 1.3. vr' Approval,agreements or material related to the development of ��� the Property shall become part of the Vested Property Rights &t,-) recognized hereunder automatically upon Approval or execution �/ by the Town and such vesting shall last throughout the term of �� 'CC.1 \XA the Vested Property Rights." ((J 'P- 1.3.4 1.3.4 Termination of Vested deleted "and are subject to termination"and replace with "but Agreed and Suggest—"Default"should be"Material .. .),-,\\\„ Property Rights will automatically terminate". Also added "or any event of Default"(defined in Section 2.1) \V\\ Default" \ 1.3.5(b)(i)B—Delayed Approval Deleted "Construction Document Plans for Upper Wood Road Agreed of PUD Amendment Application and Community Facility" --,, 1.3.5(b)(iii)—Denial of PUD Deleted opportunity for Developer,(to"Buy Back"vesting for a Disagree—Need to understand Town's position and Amendment Application specified period of time in case of denial and if Developer / reasonjx I �g. _ commenced construction of Public Improvements as soon as r' `i ° practicable and substantially complete within 12 months f�\`,�) 1 r/ 4c:7 ,mit . i ., �� OP' C�. 61 l cam' r: RELATE D 2 MISSI1 2Yl ® /n /n Response to Staff Comments Development Agreement TOSV Staff Comments Applicant's Revised Proposal 1.3.6 Liquidated Damages Deleted "and any other building for which Commencement :isagree-Developer can commence construction of of Construction has occurred after the date of this Agreement" another building after the date of this Agreement and Developer must protect the vesting for such building. Need to understand Town's position and reasoning. 1.3.6 Liquidated Damages Deleted"In addition,and for purposes of clarification, in the Linked to"Buy Back"provision noted in Section / event the action on the PUD Amendment Application is a Denial, 1.3.5(b)(iii) �1/ Gl"/,trJ// or in the event of any Event of Nonperformance,the milestone 01 I deadline for Substantial Completion of Building 13B shall for all purposes be twenty-four(24) months from the date of Commencement of Construction of Building 13B." 1.3.7 Construction Interruptions Added"(i)a reasonable restoration and remediation contingency Agreed and Suggest—maximum of$100,000 for the plan as required by Section 16A-5-310(9)of the Town Municipal". restoration and remediation contingency plan. Also added"in the amount of One Hundred and Twenty(120%)of the amount to be determined by the Town, based on the scope of the restoration and remediation contingency plan" Article II Default Added "2.2 Any event of nonperformance shall be a Default" Disagree-Applicant believes this is circular given the term"Event of Non-Performance"is already defined in Agreement 4.7 Termination;Amendment; added "Except as herein above provided" Agreed Waivers (: RELATED 3 Response to Staff Comments Subdivision Improvements Agreement TOSV Staff Comments Applicant's Revised Proposal d / Recitals G. Cleaned up reference to"Landscape Improvements" Agreed Recitals I. Added "Landscape Improvements" Agreed and Su est-change`tublic Improvements' to"Improvements" Recitals J. Added"Landscape Improvements" Agreed and Suggest-change"Public Improvements"to"Improvements" Definition of Mobilization Added "together with the visible commencement of actual Agreed and Suggest-"together with the visi1:› operations on the ground for the erection of the building,which commencement of actual operations on the gr everyone can readily recognize as commencement of a building, which is readily recognizable by the Town's Chief and which is done with the intention to continue the work until Building Official." the building is completed." 3.(d) Landing Site Construction Cleaned up language Agreed 3.(e) Pre-Qualification for Public Cleaned up language Agreed Improvements � " ✓ f 3.(f)SWSD Improvements Changed "Posting of Performance S curit "to"Final Compl tion" Applicant proposes to delete this section 1 �UIj f� ,J I Agreement C .5 (�- ..P F (f) " 4. Landscape Improvements Added to"Exhibit A",and added "Prior to issuance of building Agreed and Suggest- Prefer to establish cost of permit,developer will post security for the amount of the improvements at the time of submission for building Landscape Improvements per Exhibit A." permit,rather than in Exhibit A : RELATED 4 Response to Staff Comments Subdivision Improvements Agreement TOSV Staff Comments Applicant's Revised Proposal 7. (c)Security for Public Change"Substantial"to"Final"with regards to Completion of the -- Definition of Final Completion does not Improvements :Release of Snowmelt System at Garage Entry apply to this specific improvement Security 4.7 Termination;Amendment; added " Except as herein above provided" Agreed Waivers I a-e'Li'jt `i W • V(' ))\ ()Jo\ EI RELATED 5 9 aaiv13 a 2 . .__ F' ...44 0 At, liNdlik i __.it , t,. t .. . , .. , 114 1 ''!‘1410 , 4 ,,*,,,,, . , iv fit" ?\:::44::: ` x z ` ,. +. 401111.. \.. . ,..,„44‘ - , „,„. 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