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RESOLUTION 31-02
00RESOLUTIONNO.31-02WHEREAS,onJanuary15,1994,theTownofEstesParkenteredintoaDevelopmentAgreementwithStanleyHotelsLimited;andWHEREAS,Section6.02oftheDevelopmentAgreementprovidedthattheTownhaveafifteen(15)yearOptiontoLeasetheCarriageHouseandsurroundingareaofapproximately3acrespursuanttocertaintermsandconditions;andWHEREAS,Section6.02(d)providesthattheoptiontoleasecanbeterminatedbytheTownatanytimewithoutrecourse;andWHEREAS,theBoardofTrusteesoftheTownofEstesParkhasdeterminedthatitisinthebestinterestoftheTowntoterminatetheTown’sfifteen(15)yearOptiontoLeaseasmorefullyprovidedinSection6.02oftheDevelopmentAgreementofJanuary15,1994,betweenStanleyHotelsLimitedandtheTown.NOWTHEREFORE,BEITRESOLVEDBYTHEBOARDOFTRUSTEESOFTHETOWNOFESTESPARKASFOLLOWS:1.TheBoardofTrusteesoftheTownofEstesParkherebyterminatesthefifteenyearOptiontoLeasetheCarriageHouseandsurroundingareaofapproximately3acresasmorefullysetforthinSection6.02oftheDevelopmentAgreementdatedJanuary15,1994,byandbetweenStanleyHotelsLimitedandtheTownofEstesPark.2.TheappropriateofficialsoftheTownofEstesParkareherebyauthorizedtoexecuteanydocumentsnecessarytoconfirmthisterminationoftheTown’sOptiontoLeasetheCarriageHouse.Datedthis12thdayofNovember,2002.ATTEST:cTownClerkTOWNOFESTESPARKayor o0