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Town Council Resolution 42 1983TOWN OF SNOWMASS VILLAGE TOWN COUNCIL RESOLUTION NO. 42 SERIES OF 1983 BDOdf447PAGE23 207 NI( 35 A RESOLUTION APPROVING A TRAILS AGREEMENT BETWEEN THE TOWN AND MT. BALDY INVESTORS. WHEREAS, Mt. Baldy Investors, at the request of the Town, has submitted an Agreement providing for reimbursement of expenses incurred by the Town in the construction of a trail across property owned by Mt. Baldy Investors; and WHEREAS, the Town Council has reviewed the provisions of the Agreement and the comments of staff and desires to approve said Agreement. NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Snowmass Village, Colorado: Section One. That the Trail Agreement between the Town of Snowmass Village and Mt. Baldy Investors, attached hereto and made a part hereof as Exhibit A, is hereby approved and the Mayor is authorized to execute same on behalf of the Town. INTRODUCED, READ AND ADOPTED by the Town Council of the Town of Snowmass Village, Colorado on the 16th day of May ,. 1983, by a vote of 5 to .. 0 Mayor Tippett and Councilmember Bedford were absent. ATTEST: ' S'usan, 'S. Hansen, Town Clerk TOWN OF W ASS VILLAGE COLORADO B. �'2�>. John Ftancis, Mayor Pro Tem BON i PAG234 iR^ � TRAIL AGREEMENT THIS AGREEMENT, made and entered into this day of . i 1983, by and between MOUNT BALDY INVESTORS, a Colorado Joint Venture (hereinafter referred to as "Mount Baldy"), and the TOWN OF SNOWMASS VILLAGE, COLORADO (hereinafter referred to as "Town") , W I T N E S S E T H WHEREAS, Snowmass Village Planning and Zoning Commission Resolution No. 2, Series of 1979 and Town Council Resolution No. 4, Series of 1979 (which amended and adopted said Planning and Zoning Resolution No. 2 by reference), contemplate, among other things, that adequate easements will be granted to the Town to accommodate a trails network as a condition of approval of an SPA Plan for the physical development of certain property described as the "Benedict" Lands; and WHEREAS, Mount Baldy is the owner of a parcel of land being a part of Tracts 38, 39, 42 and 45 of Section 1, Township 10 South, Range 86 West of the 6th P.M., Pitkin County, Colorado, lying on the southerly side of the Brush Creek Road, containing approximately twenty-five (25) acres, and commonly known as "Faraway Ranch South" (hereinafter referred to as "Faraway South") located within the "Benedict" Lands; and WHEREAS, Town has constructed and paved a. pedestrian and bike trail South of and generally parallel to the Brush Creek Road and within said Faraway South, and desires to obtain from Mount Baldy an easement and right-of-way for said trail and a commitment to reimburse the Town at a future date for the cost of paving the trail; and WHEREAS, Mount Baldy is willing to grant an interim license at this time and to obligate themselves to convey a perpetual easement and reimburse the Town for the cost of trail improve- ments in the future, as more particularly set forth herein, in anticipation of the approval by the Town of an SPA Plan for the "Benedict" Lands which is acceptable to Mount Baldy; and a. m, Boa 447 PA,E 235 WHEREAS, the Town is willing to accept the interim license and the promise of future performance with the understanding of the parties that in so doing the Town is not thereby guaranteeing or implying approval of any SPA Plan for the "Benedict" Lands which may be submitted at a later date. NOW, THEREFORE, in consideration of the premises and for other good and valuable considerations, the receipt and suffi- ciency of which are hereby acknowledged, Mount Baldy and the Town hereby mutually covenant and agree as follows: 1. Grant of Interim Trail License. Mount Baldy hereby grants, transfers and conveys unto the Town, its successors and assigns, a non-exclusive trail license over, across and along that certain paved bike trail as presently constructed and in place South of and generally parallel to Brush Creek Road as such trail lies within and across said Faraway South. It is the express understanding of the parties that Mount Baldy shall have the right at its sole cost and expense to relocate all or a por- tion of the subject trail lying within Faraway South at any time and from time to time in order to accommodate the development of Faraway South, so long as the quality of construction and paving of the relocated portion of the trail is at least equal to that of the existing trail. The license hereby granted shall remain effective until such time as (i) Stage 2 of an SPA Plan has been approved by the Town for the development of the remainder of Faraway Ranch, and (ii) the Town has approved the first Stage 4 submission made pursuant to the land use plan approved at Stage 2. Upon the occurrence of the foregoing, Mount Baldy shall execute and deliver to the Town in recordable form a formal grant of perpetual easement and right-of-way covering the subject bike trail as it may then be located and in place within and across Faraway South. 2. Mount Baldy Reimbursement of Town. The parties hereby acknowledge and agree that the cost to the Town of paving the opm Boa 447 � t� e i Pa�E2WD6 subject trail across Faraway South was $17,000.00. Mount Baldy hereby covenants and agrees that no later than thirty (30) days following the delivery by Mount Baldy of the perpetual easement pursuant to Paragraph 1 above, Mount Baldy shall deliver to the Town in cash or certified funds the sum of $17,000.00, together with accrued interest thereon at the Town's preferred rate from the date the Town actually paid out such monies to the date of repayment by Mount Baldy, in full and complete reimbursement for said trail paving cost. 3. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. y� [S`EAL] a .Y S r b. fa. a 4.•+ "�� •�r L ; tt'est sa SES an`�,S Hansen, Town Clerk MOUNT BALDY INVESTORS, a joint venture By: CREATIVE MOUNTAIN DEVELOPMENT, INC., a Colorado corporation, a Joint Venturer By ` eligh C. Coat7s, Jr., President AND By: BENEDICT LAND AND CATTLE COMPANY, a Colorado corporation, a Joint Venturer By Fredric A. Benedict, President Town of Snowmass Village, Colorado By -3- Jefferson Tippett, Mayor