HomeMy WebLinkAboutPACKET Town Board 1996-09-10··-1 f 1 Prepared 9/05/96 Revised 9/06/96* The Mission of the Town of Estes Park is to plan and provide reliable, high-value services for our citizens, visitors, and employees. We take great pride ensuring and enhancing the quality of life in our community by being good stewards of public resources and our natural setting. BOARD OF TRUSTEES - TOWN OF ESTES PARK Tuesday, September 10, 1996 7:30 P.M. AGENDA PUBLIC COMMENT. To conduct an orderly, efficient meeting, individuals will be given a maximum of up to three (3) minutes to speak on topics which are pertinent to Town affairs. Any exceptions will be given at the discretion of the Mayor. CONSENT CALENDAR: 1. Town Board minutes dated August 27, 1996. 2. Bills. 3. Committee Minutes: A. Board of Adjustment, September 3, 1996 (acknowledgement only). 4. Special Review #96-5, Nicky's RV Resort - Continued to September 24, 1996 at the Applicant's Request. ACTION ITEMS: 1. Jeffrey S. Zax, Ph.D. - Presentation of Economic Growth and Its Sources in Estes Park. Introduction by Eric Blackhurst/Forward Estes Park. 2. First Street Storm Sewer Design Scope of Services - Approval of Budget Expenditure. 3. Ordinance #17-96 - Amending Chapter 7.08.070 Allowing the Keeping and Maintenance of Horses in the C-D and C-0 Districts. 4. Parade Permits: A. Town of Estes Park - Fire Station Grand Opening, October 19, 1996. B. Town of Estes Park - Annual Christmas Parade, November 29, 1996. 5. Announcement of CDOT/Citizen Construction Schedule Input Meeting for the 1997 Highway 7 Project, Tentatively Scheduled *September 19, 1996, 5:30 p.m., Room 203 - Administrator Klaphake. 1
1, 6. Reappointment/Estes Park Urban Renewal Authority - Richard Putney, Commissioner, 5 Year Term, Expiring September 14, 2001. 7. Resolution #14-96 - Supporting the Northern Colorado Transportation Feasibility Study. 8. Ordinance #18-96 - Authorizing the Transfer of certain real property (Lone Tree Property) to the Estes Park Housing Authority. 9. Town Administrator's Report: A. 10. Adjourn as Board of Trustees. 11. Convene as Estes Park Housing Authority: A. *Appointment of Officers: Current: Chairman - H. B. Dannels Vice Chairman - Susan L. Doylen Secretary - Robert L. Dekker Treasurer - Stephen L. Gillette B. Resolution #1-96 Approving the Contract and Transfer of the Lone Tree Property. 12. Adjourn. 2
f 1, Town of Estes Park, Larimer county, colorado, 0 811.gust .27 0 0 ., 19. 9 6 Minutes of a.. Regular. . meeting of the Board of Truatee, of the Town of August A.D.. 19. . . Estes Park, Larimer County, Colorado. Meeting held in the Municipal Building in 96 said Town of Estes Park on the .. ?7.,4 day of ..... at regular meeting hour. Robert L. Dekker Meeting called to order by Mayor ......................... Present: Mayor Trustees: Robert L. Dekker Susan L. Doylen, Mayor ProTem : Jeff Barker, John Baudek, Gary F. Klaphake, William J. Marshall, Algo Present: Town Administrator J. Donald Pauley Gregory A. White, Town Attorney Vickie O'Connor, Town Clerk Absent: George J. Hix, Trustee Mayor Dekker called the meting to order at 7:30 p.m. PUBLIC COMMENT. None. CONSENT CALENDAR: 1. Town Board minutes dated August 13, 1996. 2. Bills. 3. Committee Minutes: A. Public Safety, August 15, 1996. B. Public Works, August 22, 1996. C. Planning Commission, August 20, 1996 (acknowledgement only). It was moved and seconded (Doylen/Pauley) the consent calendar be approved, and it passed unanimously. ACTION ITEMS: 1. Hiqhwav 36 /Stanlev Avenue "No Left Turn" Sign - Update. The Public Safety Committee reviewed additional information (personal survey conducted by Trustee Baudek) during their meeting August 15, and Chief Repola reported that he would provide supplementary statistics: records are available for only the past four years, nine accidents occurred in this area, and of the nine, five were specifically associated with the Stanley Ave. intersection (majority were rear-end accidents). CDOT Region 4 Traffic Design Engineer Larry Haas' letter stating that in his opinion, there is no existing hazard that would preclude the removal of the no left turn, and that the speed zone criteria is met, was also reviewed. Public Works Director Linnane clarified that CDOT reviews an area for signage based on the number of traffic accidents, sight distance, and speed limit. Trustee Doylen stated she had serious reservations with removal of the sign. John Hazlitt, 325 Park View Lane, read his personal comments in support of removing the sign. It was moved and seconded (Baudek/Marshall) the no left turn sign at the Highway
' '11 I , Board of Trustees - August 27, 1996 - Page 2 36/Stanley Avenue intersection be removed the end Of September, 1996, and it passed by the following votes: Those voting "Yes" Trustees Barker, Baudek, Marshall and Pauley. Those voting "No" Trustee Doylen. 2.A. Street Improvement Program - Approval of Budget Expenditure. The Public Works Committee recommended the low bidder, Connell Resources, be awarded the contract for the 1996 Street Improvement Program. In addition, staff was authorized to include as many streets as possible, while not exceeding the budgeted amount. It was moved and seconded (Doylen/Barker) the low bid in the amount of $98,941 submitted by Connell Resources be accepted, and that other streets may be included, for a not-to-exceed budgeted amount of $115,000, and it passed unanimously. B. Fuel Tank Abandonment Proiect - Approval of Budget Expenditure. Staff requested acceptance of a change order to cover work added to the contract agreement, and it was moved and seconded (Doylen//Pauley) the change order in the amount of $10,SOO be approved, with funding as follows: $8,300/Fuel Tank Project, and $2,200/Water Fund, and it passed unanimously. C. Resolution #13-96 - ADDroval of the ISTEA Grant for the Lake Estes Causewav Trail Proiect. Attorney White prepared a resolution authorizing the Town to enter into an agreement with CDOT for an ISTEA Grant for the Lake Estes Causeway Trail Project. The Total project construction price is $390,000, however, the total grant is for $204,450, funded as follows: CDOT share (80%) = $163,560, and the Town's share (20%) = $40,890. The remaining balance ($185,550) does not include design and construction management, and a 1996 budget amendment will be required. Discussion followed on funding, with staff confirming that the revenues from the 2% County Open Space Tax for 1996 and 1997 will be utilized for this Project. Construction could begin in winter/spring. Director Linnane reviewed the trail route, which includes design of a bridge that will be included in the bid package. Town Attorney White read the Resolution. It was moved and seconded (Doylen/Pauley) Resolution #13-96 be approved, including the appropriate budget amendment necessary to fund this Project, and it passed unanimously. D. Ordinance #16-96 and Deed - Authorizing Donation of Land (Parcel #6) to Estes Valley Memorial Gardens. Inc. - Discussion. The Public Works Committee recommended approval of the donation of Parcel #6 to the Estes Valley Memorial Gardens in exchange for a conservation easement en gross. Administrator Klaphake noted that Memorial Gardens had not had an opportunity to review the documents, and that formal Town approval will be requested in the near future. A site map was displayed, and Attorney White reviewed the documents and explained that, in his opinion, the intent of the municipal election approving the sale of public land for a cemetery is being met as the Town is receiving a conservation easement. The easement is in perpetuity, and it will be enforced by the Town. 3. Final Plat of The Reserve. First Filina. Nordic Construction and Development. Inc./Applicant. Mayor Dekker opened the public hearing. Senior Planner Joseph stated that the Applicant is requesting to subdivide 63.5 acres. into 27 single-family residential lots. The Planning Commission recommended conditional approval. The Improvement Guarantee and Attorney's letter have been received, and there are no outstanding issues to be resolved at this time. Attorney ~ White requested the building envelope plan be recorded.
f . 1 4 Board of Trustees - August 27, 1996 - Page 3 Applicant's representative Bill Van Horn stated the plan is not in a format acceptable for recording, however, the plan could be attached as an Exhibit to the covenants. The Town could stipulate that no building permits would be issued pending recording of the covenants. The project will be phased over 2-3 years, and Mr. Van Horn clarified access. There being no comments from the audience, Mayor Dekker declared the public hearing closed. It was moved and seconded (Doylen/Pauley) the Final Plat of The Reserve, First Filing be approved with the covenants to be recorded, and it passed unanimously. No building permits will be issued without evidence that the covenants have been recorded. 4.A. Special Event Malt. Vinous and Spirituous Permit Application filed by the Estes Valley Sunrise Rotary Club. Inc. for "Autumn Gold". scheduled September 21 and 22. 1996. Trustee Pauley cited a conflict of interest and stated he would not participate in discussion nor vote on this application. It was moved and seconded (Doylen/Baudek) the Special Event Permit Application filed by the Estes Valley Sunrise Rotary Club be approved, and it passed with Trustee Pauley abstaining. B. Special Event Malt. Vinous and Spirituous Permit Application filed bv the Town of Estes Park for the Dannels Fire Station Grand Opening Celebration. scheduled October 19. 1996. It was moved and seconded (Marshall/Pauley) the Special Event Permit Application filed by the Town of Estes park for the Dannels Fire Station Grand Opening be approved, and it passed unanimously. Administrator Klaphake reported that a Committee, Chaired by Trustee Marshall, and including Chief Rumley, Administrator Klaphake and Clerk O'Connor has been established. The Committee is working on the celebration, and additional information will be presented in the near future. 5. Town Administrator's Report: A. Municipal Building Painting Contract - Approval of budget expenditure. The bid with Western Waterproofing did not include painting of the underneath side of three decks (5,282 sq. ft. of painting surface). As the appearance is unsatisfactory, Administrator Klaphake requested the painting contract be increased by $9,000. It was moved and seconded (Marshall/Pauley) the Western Waterproofing Contract be increased by $9,000 to complete the decks as identified above, with funding to be provided by a portion of the Contingency Fund, and it passed unanimously. B. 1997 Budget Calendar. The Trustees received the 1997 Budget Calendar. Trustees will meet in groups of 2 each with staff, and the Joint Town Board/EPURA Budget Meeting scheduled October 23 has been cancelled. 6. Motion to enter Executive Session. It was moved and seconded (Doylen/Pauley) the Trustees enter Executive Session to discuss: Land Negotiations, Litigation, and Personnel, and it passed unanimously. Whereupon Mayor Dekker adjourned the meeting at 8:42 p.m. to Executive Session. ' Robert L. Dekker, Mayor ............... Vickie O'Connor, Town Clerk
HADFORD PUSLIIHING CO. RECORD OF PROCEEDINGS Board of Adjustment September 3, 1996 Board: Chairman Pauley, Members Barker, Baudek, Newsom, Sager Attending: Members Barker, Baudek, Newsom, Sager Also Attending: Public Works Director Linnane, Building Official Allman and Secretary Botic Absent: Chairman Pauley Vice Chairman Sager called the meeting to order at 8:00 a.m. 1. MINUTES The minutes of the August 6, 1996 meeting were accepted as presented. 2. WHITE MEADOW VIEW PLACE. LOT 27. 840 FAWN LANE. BETTY KUEHL/ APPLICANT - REOUEST FOR VARIANCE FROM SECTION 17.20.040 Bl.a AND b. OF THE MUNICIPAL CODE WHICH REOUIRES TEN FEET FROM THE SIDE PROPERTY LINE AND TWENTY FIVE FEET FROM THE STREET. Vice Chairman Sager stated he had previously viewed the property with the Applicant and assisted in identifying two property corners and advised Applicant to speak with John Allman and Steve Stamey. Applicant is proposing to erect a detached private garage to a single family dwelling. Building Official Allman reviewed his staff report and recommended approval. Mr. Allman clarified for the Board that this area is R-M Residential and the garage Will be for one car. NO correspondence was received; one telephone call was received in support of the variance. There were no audience comments. It was moved and seconded (Newsom-Barker) the setback variance be approved for 840 Fawn Lane, Lot 27, White Meadow View Place, and it passed unanimously. 3. RIVERSIDE SUBDIVISION. PORTION OF LOT 22. 253 EAST RIVERSIDE. FRANK GUNTER/APPLICANT - REOUEST FOR VARIANCE FROM SECTION 17.20.040 B.2 OF THE MUNICIPAL CODE WHICH REOUIRES A THIRTY FOOT SETBACK FROM THE BIG THOMPSON RIVER. Applicant is proposing to enclose an existing covered porch. Building official Allman reviewed the staff report recommending denial explaining there is concern with adding to a nonconforming structure. In response to Member Baudek's question, Mr. Allman stated this proposal would not change the footprint of the area, the footings are within the floodplain, the floor of the structure is not in the floodplain. Mr. Allman stated when improvements are made, values increase which present a problem if/when there is damage. Mr. Allman did not foresee a weight problem if the variance were approved; he suggested hanging some type of covering rather than enclosing the porch. Applicant's representative David Habecker stated he did not dispute any of Staff's comments; he was on the Board of Adjustment on March 3, 1994 when a similar request by the Gunter's neighbor was denied. He stressed the difference with this request is that the streambed would not be changed and could alleviate a potential problem. He referred to the information submitted with the Applicant's application which stated 'the floor of the residence and existing deck are 1.45' and 0.98' above the 100 year flood elevation per Van Horn Engineering'. He stated the reason for the 30' setback is for access to the river and not because of flooding. The access to the river is not applicable in this case as there is another house in this area and a riverwalk is not possible at this time. He stated the request is simple and falls within the Municipal guidelines. Member Newsom asked if the new area
, DRADFORD PUDISHING CO. RECORD OF PROCEEDINGS Board of Adjustment September 3, 1996 Page 2 would be winterized and recalled the March 1994 application involved a second story. Member Newsom also stated the Board attempts to treat all people equal and other requests have been denied. Mr. Habecker responded there is a State law requiring minimum insulation requirements if the porch would be enclosed and noted using plywood for winter protection would not require a building permit. Mr. Habecker stated another difference from the 1994 application is that it would have required supports which would have changed the flow of the river. Vice Chairman Sager clarified the difference in the two examples had to do with encroachment into the riverbank and floodplain and noted floodplain regulations are different from river requirements. In response to Vice Chairman Sager's question, Public Works Director Linnane stated construction may occur in a floodplain in an existing non-conforming building, however, if this were a new structure, construction would not be allowed; construction cannot occur in a floodway. Mr. Habecker stated the work done so far on the porch was done without a permit; there is now a red tag on the wall. The roof was leaking and repairs were done to the roof and window framing was added. He stated it would be advantageous to remove the current support in the river at this time and replace with steel beams. Mr. Sager asked what the Town's liability would be if this were approved. Mr. Linnane stated in 1994 the FEMA officer came to the Board of Adjustment meeting and even though the finished space would have been above the 100 year flood elevation, this would not have been legal and would have jeopardized insurability and that no construction should occur in the floodway. Mr. Sager read the following from the March 1994 minutes: "Attorney White explained that the purpose of F.E.M.A. is to recognize and remove dangerous structures in any area, not just the floodway. The ramifications of granting this variance are serious. The Town is required to adopt and include Floodplain Regulations in the Zoning Ordinances. If these regulations are not maintained, anyone within Town limits needing commercial lending and/or flood insurance will be denied. These regulations have been imposed because of the two major floods in the Estes Valley which claimed many lives and buildings." Mr. Gunter reviewed his history with the home since 1974. He noted the structure withstood the 1936 flood and appreciates the Board and does not want to do anything illegal. He has been doing his own work with one other individual and did lengthen the porch by 4'. He stressed his work was not done in defiance; he didn't realize he needed a building permit. He does not believe he will have the house much longer due to his age and at that time the Town will be free to purchase his home and requested approval to improve his home. Mr. Sager asked Mr. Gunter to recognize that the Board cannot jeopardize other citizen's ability to be insurable. It was moved and seconded (Baudek-Barker) the variance request for 253 East Riverside, Portion of Lot 22, Riverside Subdivision, be continued to the October 1, 1996 meeting so that Attorney White could clarify the floodway area, and it passed unanimously. 4. COUNTRY CLUB MANOR ADDITION. LOT 3. BLOCK 6. 441 ELM AVENUE. DAVID AND DONNA J. SHULL/APPLICANTS - REOUEST FOR VARIANCE FROM SECTION 17.20.040 B.1.a. AND b. of the MUNICIPAL CODE. Applicant is proposing to erect an attached carport to a storage building. Building Official Allman reviewed his staff
, BRADFORDPUBLISHING CO. RECORD OF PROCEEDINGS Board of Adjustment September 3, 1996 Page 3 report and noted that on July 15, 1996 he issued a 'Stop Work' order and recommended denial of this request. Mr. Sager requested Public Works Director Linnane give information regarding Fir Avenue. Mr. Linnane stated the Town has no immediate plans to construct Fir Avenue; if construction were to occur the slope would need to be reduced and some type of turnaround would need to be added. Mr. Linnane responded to Mr. Sager's question on Elm Avenue stating he considers Elm Avenue an alley. Mr. Allman stated the Code addresses streets not alleys. Mr. Sager stated it was not fair to penalize a person with two street 'fronts' and this request could be for a 5' variance not 20' if the 'front' of the property were reversed. Applicant David Shull stated he didn't realize he couldn't build a carport and does not plan to enclose the carport if approved. He would complete the carport roof and add paint if the request is approved. Joe Pitsch, an adjacent neighbor, asked for clarification on the rear setback for Fir Avenue as he would like to build a garage in the future and did not have any objection to the approval of this request. Mr. Allman was not able to determine if the current structure is in conformance with the Uniform Building Code. If approved, the next step would be to apply, submit plans, and comply with the UBC. Member Baudek noted the carport is attached to a current structure and is not freestanding. It was moved and seconded (Newsom-Barker) the setback variance of 5' be approved for 441 Elm Avenue, Lot 3, Block 6, Country Club Manor Addition with the following conditions, and it passed unanimously. • The existing carport may remain in its current location provided construction complies with the Uniform Building Code. • The carport will not be enclosed. 5. REPORTS Mr. Sager expressed his appreciation to Mr. Allman for his follow-up to Mr. Webermeier and stated that he disagreed with the date for compliance, which could have been September 15, 1996 in lieu of October 15, 1996. Mr. Sager expressed concern with Beaver Point Addition, Tract 12, Lot 1, 907 Moraine Avenue and their promise on April 4, 1995 to only display furniture on their front porch and not in their front yard. After a discussion, it was agreed that Mr. Allman would follow-up on this and in the future this type of observation/concern could be taken care of directly with Mr. Allman. There being no further business, Vice Chairman Sager adjourned the meeting 9:22 a.m. 4«d.'de&1-9 Roxanne S. Botic, Recording Secretary
, TOWN BOARD MEETING SEPTEMBER 10, 1996 ACTION ITEM #1. JEFFREY ZAX WILL PRESENT AN EXECUTIVE SUMMARY OF THE SURVEY AT TUESDAY'S MEETING. 1
, BRADFOROPUILISHINGCO RECORD OF PROCEEDINGS Public Works Committee August 22, 1996 Committee: Chairman Doylen, Trustees Barker and Hix Attending: Chairman Doylen, Trustee Barker Also Attending: Public Works Director Linnane, Construction/Facilities Manager Sievers, Clerk O'Connor Absent: Trustee Hix, Administrator Klaphake Chairman Doylen called the meeting to order at 8:00 a.m. FIRST STREET STORM SEWER - REOUEST TO PRESENT DESIGN SCOPE OF SERVICES DIRECTLY TO TOWN BOARD SEPTEMBER 10. 1996. * al The 1996 Budget contains $113,000 for the construction of a storm sewer system from Highway 7, along First Street, to Highway 36. Due to the upcoming CDOT Highway 7 project, staff desires to complete the storm sewer installation prior to the highway construction. The time schedule is as follows: Present the Scope of Services to the Town Board September 10. • Request authorization to bid the project at the September 26 Public Works Committee meeting. • Public Works Department to present the bids at the Public Works Committee meeting on October 24. Award the bid at the Town Board meeting November 12. Construction start-up November 13. By following this time schedule, five weeks can be saved, which is critical due to frost conditions. The Committee recommends approval to the request to submit the Design and Scope bids directly to the Town Board September 10, 1996 only if said bids are over $5,000.
. Public Works Engineering Memo TO: Town Board of Trustees From: Greg Sievers CC: Bill Linnane Date: September 4, 1996 Re: Prospect Mountain Storm Water RFP The adjusted 1996 budget contains $113,000 for the construction of a portion of the Prospect Mountain Storm Drainage System. This portion of the Master Plan will provide underground storm water facilities north along First Street from Highway 7 to Highway 36 then east to Third Street where it will connect to the existing system. Requesfs For Proposals were publicly advertised and one bid was received. Rocky Mountain Consultants has submitted a proposal for $7,000. This will cover the surveying, design, bidding process and construction management of the project. Staff requests to accept their proposal and to maintain an additional $3,000 in contingency for material testing, underground investigation and additional management time that may be required for soils, hydrology and permitting. • Page 1
PROSPECT MOUNTAIN STORM MANAGEMENT SYSTEM FIRST STREET TO HWY 36 TO THIRD STREET IMPROVEMENTS PROJECT KMEDMLE 1. Request to proceed with RFP 8/22 PWC 2. Design proposals due 9/3 3. Request to accept proposal 9/10 TB 4. Design 9/11 - 10/8 5. Request to bid out construction 9/26 PWC 6. Approval 10/8 TB 7. Mail construction packages 10/9 8. Construction bids due Tues. 4pm - 10/22 9. Request to accept & award construction bid 10/24 PWC 10. Pre-Construction meeting w/ utility companies 10/29 11. Approve construction 11/12 TB 12. Begin construction, issue Contract, NTP 11/13 13. Progress report +/or change orders 11/28 PWC 14. Approval 12/10 TB 15. Finish construction 12/20
SEP-p5-1996 11:43 HAMMOND, CLARK & WHITE 9706699380 P.02 ORDINANCE 27 - 96 AN ORDINANCE AMENDING SECTION 7.08.070 OF THE MUNICIPAL CODE OF THE TOWN OF ESTES PARK CONCERNING KEEPING OF HORSES WHEREAS, the Board of Trustees of the Town of Estes Park, Colorado, has determined that it is in the best interest of the Town to amend Section 7.08.070 of the Municipal Code of the Town of Estes Park. NOW. THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK, COLORADO. Section 1. Section 7.08.070 shall be amended to read as follows: Section 7.08.070 Cattle and horses--Conditions reauired for permit. The Town Building Inspector shall authorize issuance of a permit to keep and maintain horses on certain described premises within the Town upon his determination that the following conditions or requirements are complied with: 1. Permits may be issued to resident owners or resident lessees of real property located within the R-S or the R-M residential districts for their personal horses. A maximum of two horses may be kept or maintained on the first acre of land described in each permit and an additional horse may be kept or maintained for each additional acre of land described in each permit. Any real property included in a permit issued hereunder shall not be included in another permit. 2. Permits may be issued to resident owners or resident lessees of real property located within the E Estate residential district for their personal horses provided the minimum lot size is five acres or more and the number of horses shall not exceed four. Any real property included in a permit issued hereunder shall not be included in any other permit. 3. Permits may be issued to owners and lessees of property located within C-D or C-0 districts, provided the minimum lot size is 15 acres or more and the number of horses shall not exceed four. 4. Any shed, shelter, or corral in which horses are kept or maintained shall not be closer than twenty-five feet to any building occupied as a residence or used for human habitation or use and fifty feet from any street or property line. All property where horses are to be kept or maintained shall be fenced by a lawful fence as defined by the statutes of the State of Colorado, which fence shall be constructed at least fifty feet from the outside boundary line of the property described in the application for a permit hereunder.
SEP-05-1996 11:43 HAMMOND, CLARK & WHITE 9706699380 P.03 5. The construction of feeding facilities, and the construction, drainage, flooring, ventilation, waste removal and fly screening of all sheds, or other shelters shall be governed by any regulations adopted by the Town Board of Trustees. Section 2. The adoption of this Ordinance shall take effect and be enforced thirty (30) days after its adoption and publication. PASSED AND ADOPTED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK, COLORADO THIS DAY OF , 1996. TOWN OF ESTES PARK BY: Mayor ATTEST: Town Clerk I hereby certify that the above Ordinance was introduced and read at a meeting of the Board of Trustees on the day of , 1996, and published in a newspaper of general circulation in the Town of Estes Park, Colorado On the day of 1996- Town Clerk
U 0 APPLICATION ~ (Please type or print all inlormation) DATE,OF REQUEST: 8 / 14 / 96 TYPE OF EVENT (Check the applicable one): ATHLETIC - SPECIAL.X. BRIEF DESCRIPTION (Foot Race, Parade, etc.): Parade ORGANIZATION INFORMATION ORGANIZATION NAME: Town of Estes Park ADDRESS: P. O. Box 1200 CITY & STATE: Estes Park, CO PHONE: (9703 586-5331 ., Jack Rumley/ CONTACT PERSON: Gary Klaphake TITLE: Town Admin. PHONE: L--) " DESCRIPTION OF THE EVENT DATE(S): Beginning: 10 / 19/ 96 TIME: Beginning: 9:30 AM -1 PM - Actual Parade starts at 10:30 am Ending: 11:30 AM.X_ PM - Ending: 1 1 NOTE: If times will vary on subsequent days, attach explanation. LOCATION: (State Highway and Mileage) U. S. Highway 34 PROPOSED ROUTE(S): PROPOSED DETOUR(S): From existing Fire Station on MacGregor Ave. south (1/2 blk.) to Elkhorn Ave., east, then to Hwy. 36 to New Fire Station, 02/AINg ·rNE NE~ENifv 8~AVING THE EVENT ON A HIGHWAY: Primary route to the new fire station. DESCRIPTION OF EVENT IN DETAIL (include number of participants, description of the activity to be conducted on the highway, number and type of animals, description of any vehicle or materials to be used. Use additional sheets if necessary. Attach a map): 9 Fire Units w/drivers 31' Automobiles w/driversand possibly 2 passengers/vehicle Colorquard (approximately 4 pedestrians on foot) High School Band Members The undersigned hereby agrees to pay the total actual cost to the State Patrol and the Department 01 Highwa9s for conducting any highway closures related to the event described herein and to submit payment in advance for the estimated cost of such closures and to pay for and provide liability insurance in an amount to be determined by the Chiel ol the State Patrol. The under- signed understands that any costs in excess ot the estimated cost must be paid to the Colorado State Patrol following the event and that il the estimated cost exceeds the actual cost, the balance will be refunded. 1, the undersigned, further certify that the statements contained herein or attached hereto are true, accurate, and complete to the best of my knowledge and belle 1. 426£,O 0 h. AA *-U)OU.Ldj Y/44AA ~4~22224% AlL/PoluL) SIGNATURE DATE .
- 1 APPLICATION . (Please type or print all inlormation) DATE OF REQUEST: 3 ' 533,96 TYPE OF EVENT (Check the applicable one): ATHLETIC - SPECIAL -4 BRIEF DESCRIPTION (Foot Race, Parade, etc.): <Boaz»X-, ORGANIZATION INFORMATION ORGANIZATION NAME: '%~5<1>21-· IXSEs»« 91-9-5*4 =DNESS'. Ch~ENX»»A~L. %3xa>3~tr-f#,sh.90;T**% - CITY & STATE: PHONE: (__) :P ' CONTACT PERSON:1 2999'·~>Ik: TITLE: tbao . PHONE ( VS 756-ld*\ DESCRIPTION OF THE EVENT DATECS): Beginning: \\ / lA 7\(e TIME: Beginning: 5 : 00 AM PM X Ending: 1, / 627 / 96 Ending: U. 16 AM __ PM .~- NOTE: If times will vary on subsequent days, attach explanation. LOCATION: (State Highway and Mileage) PROPOSED ROUTE(S): PROPOSED DETOUR(S): 1 . (433*OU«21 er~ 936»6-Ie-&& 9<»21.1, enjo 1~Sgk»31 - %-33,Jb< Cse·. 930;6•-Eb\»S»oe_ »lf £,3/Xt..:S.:x., 93¢*,22 4 Spe»*Sh, i€5.hts. DESCRIBE THE NECESSITY OF HAVING THE EVENT ON A HIGHWAY: DESCRIPTION OF EVENT IN DETAIL (include number of participants, description of the activity to be conducted on the highway, number and type of animals, description of any vehicle or materials to be used. Use additional sheets if necessary. Attach a map): 35.1 The undersigned hereby agrees to pay the total actual cost to the State Patrol and the Department of Highwa~ for conducting any highway closures related to the event described herein and to submit payment in advance for the estimated cost 01 such closures and to pay for and provide liability insurance in an amount to be determined by the Chief of the State Patrol. The under- signed understands that anycosts in excess of the estimated cost must be paid to the Colorado State Patrol following the event and that it the estimated cost exceeds the actual cost, the balance will be relunded. 1, the undersigned, further certify that the statements contained herein or attached hereto are true, accurate, and complete to the best 01 my knowledge and beliet. - rcvv--4*Zip,##Ek.wkj C:%\Arr-ado uNTZ/. 3- 20-5\43 ORGANIZATION SIGNKTUWE \ I £3 DATE
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RESOLUTION /4 -94 WHEREAS, Northern Colorado' s quality of life is being threatened by ever increasing traffic congestion; and WHEREAS, daily traffic is becoming notably more congested between Northern Colorado cities and the Denver metropolitan area; and WHEREAS, the Colorado Department of Transportation Passenger Rail Study of 18 potential passenger rail corridors ranked the Fort Collins, Greeley, Denver corridor first and the Fort Collins, Loveland, Longmont, Denver corridor fourth; and WHEREAS, the state-sponsored North Front Range Air Quality Study of the "Brown Cloud" is designed to yield new information about the makeup, sources and migration of the Brown Cloud by late 1997; and WHEREAS, we must factor environmental considerations into decisions concerning transportation investments; and WHEREAS, the Blue Ribbon Transportation Panel estimates a 13 Billion Dollar transportation investment shortfall; and WHEREAS, efforts are underway to devise ways to meet that transportation investment shortfall; and WHEREAS, the Northern Colorado region needs to create an in depth feasibility study of transportation alternatives in order to be in a position to make wise investments. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK, COLORADO: 1. Cost-effective environmentally sound transportation improvement projects for the Northern Front Range region must be explored as soon as possible. 2. State and federal office holders are urged to pursue every available avenue to assist the Northern Front Range region in obtaining the resources necessary to conduct a detailed feasibility study of transportation options. DATED this day of , 199 . TOWN OF ESTES PARK Mayor ATTEST: Town Clerk
State · Representative 9!L Kaufman ..A... 4056 Davidia Ct., Loveland, Colorado 80538 (970) 669-4009 August 28, 1996 hCU: CE V ZZLi ArN 3 0 1...c. f The Honorable Robert L. Dekker, Mayor Mayor of the Town of Estes Park ADMIN, DEPT 170 MacGregor Avenue Estes Park, CO 80517 Dear Mayor Dekker: I am writing to ask for your help and advice in helping to alleviate growing traffic congestion in Northern Colorado. As you well know, the population growth we have experienced in Northern Colorado has, in many places, overwhelmed our highway system and threatens our environment and quality of life. I am personally committing myself, as a legislative priority, to help facilitate a review of options which should be made available to the people of Northern Colorado to begin addressing this problem. I was very encouraged to note that the Colorado Passenger Rail Study conducted under the auspices of the Colorado Department of Transportation has identified the corridor serving Northern Colorado communities such as Fort Collins, Greeley, Loveland, Longmont and others as the most cost-effective passenger rail corridor in the state. Obviously, there are many different modes of transportation which must be explored if we are to begin to get control of transportation issues. We have a window of opportunity, both at the federal and at the state level to focus attention on Northern Colorado and its transportation needs. Therefore, I am asking that your city join me in requesting additional studies of transportation options for Northern Colorado. Time is short because there will be hearings during the month of September in Washington to discuss re- authorization of the federal Intermodal Surface Transportation Efficiency Act. I am working with several interested parties on this issue and hopefully you will join us in urging both Congress and the State Legislature to focus more attention on Northern Colorado transportation issues. I have submitted along with this letter a draft resolution which I hope crystallizes the issues for your City Council. If your City Council chooses to take this matter up, I would respectfully request that they do so quickly so that you can forward any signed resolutions to me as quickly as possible. I will then forward them on to Washington to inform them of the Paid for by the Committee to Elect Bill Kaufman - A.G. Larsen. Treasurer DISTRICT 51
support building in Northern Colorado for studies to address this important issue. If you have any questions, please do not hesitate to call me. I, or others who are part of this coalition, will be contacting you soon for follow up. Very truly yours, 444/ Bill Kaufr0:f, State Representative Enclosure
SEP-05-1996 11:44 HAMMOND. CLARK & WHITE 9706699380 P.04 ORDINANCE NO/81w 96 AN ORDINANCE AUTHORIZING THE TRANSFER OF CERTAIN REAL PROPERTY OWNED BY THE TOWN OF ESTES PARK TO THE ESTES PARK HOUSING AUTHORITY WHEREAS. the Town of Estes Park acquired certain real property ("the property"), the legal description of which is attached hereto as Exhibit uA" and incorporated herein by this reference; and WHEREAS, the property was acquired by the Town for the purpose of using the property for an affordable housing project; and WHEREAS. on September 12, 1995, the Town Board passed Ordinance No. 19-95 authorizing the transfer of the property to the Estes Park Housing Authority for the purpose of designing and constructing the Lone Tree Apartments, an affordable housing project; and WHEREAS, following the passage of Ordinance No. 19-9S, the property was never transferred due to the decisions of the electors of the Town of Estes Park to have the Town not pursue the Lone Tree Apartments as a Town and/or Estes Park Housing Authority sponsored project; and WHEREAS, the Estes Park Housing Authority is in the process of contracting with Simpson Housing Limited Partnership and the Loveland Housing Development Corporation through the Lone Tree Village Apartments Limited Partnership for the design, construction and operation of an affordable housing development on the property; and WHEREAS. the Board of Trustees has determined that it is necessary to transfer the property to the Estes Park Housing Authority in order to enable the Housing Authority to fulfill its proposed contractural commitment with Lone Tree Village Apartments Limited Partnership; and WHEREAS. pursuant to the applicable provision of Section 31- 15-713(1) (b) C.R.S., the Board of Trustees of the Town of Estes Park, Colorado has the authority to transfer real property on such terms and conditions as the Town Board desires. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK, COLORADO. Section 1. The property set forth on Exhibit "A" shall be transferred by Special Warranty Deed to the Estes Park Housing Authority.
SEP-05-1996 11:44 HAMMOND, CLARK & WHITE 9706699380 P.05 I . Section 2. The appropriate officials of the Town of Estes Park are hereby authorized to execute a Special Warranty Deed transferring the property to the Estes Park Housing Authority. Section 3. The adoption of this Ordinance is hereby declared an emergency in order to allow the transfer of the property from the Estes Park Housing Authority to Lone Tree Village Apartments Limited Partnership on or before September 27, 1996 and WHEREAS, it is the opinion of the Board of Trustees that an emergency exists and this Ordinance shall take effect and be enforced immediately after its passage, adoption and signature of the Mayor. PASSED AND ADOPTED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK, COLORADO THIS DAY OF . 1996. TOWN OF ESTES PARK BY: Mayor ATTEST: Town Clerk I hereby certify that the above Ordinance was introduced and read at a meeting of the Board of Trustees on the _ day of , 1996, and published in a newspaper of general circulation in the Town of Estes Park, Colorado on the day of 1996. Town Clerf
SEP-05-1996 11:45 HAMMOND, CLARK & WHITE 9706699380 P.06 .. EXHIBIT .'A" A tract of land located in the SE1/4 of Section 30, Township 5 North, Range 72 West of the 6th P.M., Larimer County, Colorado being more particularly described as commencing at the Cl/4 corner of said Section 30, as monumented by a Town of Estes Park brass cap and with all bearings contained herein being relative to the North line of said SE1/4 considered as bearing South 89 degrees 11 minutes 00 seconds East; thence South 89 degrees 11 minutes 00 seconds East a distance of 1,297.18 feet along said North line to the NE corner of the Wl/2 of the SE1/4 of said Section 30; thence South 00 degrees 00 minutes 21 seconds West a distance of 640.55 feet along the East line of the Wl/2 of the SE1/4 of said Section 30 to the True Point of Beginning; thence South 00 degrees 00 minutes 21 seconds West a distance of 411.31 feet along said East line to a point on the North right-of-way line of Graves Avenue; thence West a distance of 404.45 feet to the Southeast' corner of De Vill, Subdivision; thence North a distance of 619.19 feet along the East -line of De Ville Subdivision to the Southerly right-of-way line of Manford Avenue; thence South 62 degrees 48 minutes 00 seconds East a distance of 454.78 feet along said Southerly right-of-way line to the True Point of Beginning. Being a portion of Lot 5, MANFORD ADDITION to the Town of Estes park, County of Larimer, State of Colorado. County of Larimer, State of Colorado.
0 SEP-05-1996 11:45 HAMMOND, CLARK & WHITE 9706699380 P.07 RESOLUTION WHEREAS, by Ordinance No. 18-96 , the Board of Trustees of the Town of Estes Park has agreed to transfer certain real property ("the property"), the legal description of which is set forth on Exhibit "A" attached hereto and incorporated herein by reference to the Estes Park Housing Authority; and WHEREAS, attached hereto as Exhibit "B" and incorporated herein by reference is an Agreement for sale and purchase of the property between the Estes Park Housing Authority as Seller and Lone Tree Village Apartments Limited Partnership, a Colorado Limited Partnership as Purchaser; and WHEREAS. said agreement provides for the design, construction and operation of a 57 unit affordable housing development on the property pursuant to the terms and conditions set forth in the agreement. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ESTES PARK HOUSING AUTHORITY: Section 1. The Board of Directors hereby approves the execution of the agreement for sale and purchase of the property set forth on Exhibit »B" for the purpose of providing affordable housing units within the Town of Estes Park. Section 2. The Board of Directors authorizes the appropriate officials of the Estes Park Housing Authority to execute the agreement as set forth on Exhibit "A", execute any necessary deeds transferring the property from the Housing Authority to the Purchaser, executing and delivering all instruments, documents and agreements necessary to fulfill the terms and conditions of the agreement, and the transfer of the property to Purchaser. PASSED AND ADOPTED THIS 10th DAY OF SEPTEMBER. 1996. ESTES PARK HOUSING AUTHORITY Chairman ATTEST: Secretary
, SEP-05-1996 11:45 HAMMOND, CLARK & WHITE 9706699380 1-1.08 EXHIBIT "A" · i - . 0 I. I.: -i / .. -I-.'-I.... I I lili.... A tract of land located in the SE1/4 of Section 30, Township 5 North, Range 72 West of the 6th P.M., Larimer County, Colorado being more particularly described as commencing at the Cl/4 corner of said Section 30, as monumented b¥ a Town of Estes Park brass cap and. with all bearings contained herein being relative to the North line of said SE1/4 considered as bearing South 89 degrees 11 minutes 00 seconds East: thence South 89 degrees 11 minutes 00 seconds East a distance of 1,297.18 feet along said North line to the NE corner of the Wl/2 of the SE1/4 of said Section 30; thence South 00 degrees 00 minutes 21 seconds West a distance of 640.55 feet along the East line of the Wl/2 of the SE1/4 of said Section 30 to the True' Point of Beginning; thence South 00 degrees 00 minutes 21 seconds West a distance of 411.31 feet along said East line to a point on the North right-of-way line of Graves Avenue; thence West a distance of 404.45 feet to the Southeast corner of De Vill Subdivision; thence North a distance of 619.19 feet along the East -line of De Ville Subdivision to the Southerly right-of-way line of Manford Avenue; thence South 62 degrees 48 minutes 00 seconds East a distance of 454.78 feet along said Southerly right-of-way line to the True Point of Beginning. Being a portion of Lot 5, MANFORD ADDITION to the Town of Estes Park, County of Larimer, State of Colorado. County of Larimer, State of Colorado. TOTAL P.08
HAMMOND, CLARK AND WHITE Law Olrices Lynn A. Hammond Bank One Building, Suite 418 Roger E. Clark 200 East Seventh Street Telephone: (970) 667-1023 Gregory A. White Loveland, Colorado 80537 Fax: (970) 669-9380 September 10, 1996 Charles D. Rubenstein General Counsel Simpson Housing Limited Partnership 3201 Tamarac Drive Suite 200 Denver, CO 80231 RE: Lone Tree Dear Chuck: I have reviewed the September 6, 1996 draft of the Estes Park Housing Authority Lone Tree Village Agreement. The only section with which I have any concern is Paragraph 6 B (c). Following is my suggested language for said paragraph: (C) In the event that Purchaser fails to commence construction within ninety days after the date hereof or if, following Purchaser's commencement of construction and prior to occupancy of the project by tenants, Purchaser shall abandon construction for a period of ninety days or more (unless such abandonment is due to weather conditions or other acts of God or events beyond Purchaser's control and Purchaser is using its diligent efforts to re-commence construction and complete the Project), then the Seller shall have the right to cause the reconveyance of the Property by written notice to Purchaser. Within twenty (20) days after the giving of such notice, Purchaser shall deliver to Seller a deed for the Property in recordable form, together with any other instruments as may be necessary to reconvey to Seller the Property, any improvements made thereon by Purchaser, all plans, specifications, construction drawings, surveys, contracts, warranties, governmental approvals, assignment of the tax credits and any other document or asset related to the project. Within ninety days after such reconveyance by Purchaser to Seller, Seller shall reimburse Purchaser for all verifiable reasonable out-of-pocket costs and expenses which Purchaser has incurred to the date of reconveyance in connection with the development of the Property, which are: . I
1. Labor and/or materials which a third party would be entitled to claim a mechanic's lien pursuant to the provisions of Section 38-22-101 et seq., C.R.S.; and 2. Said labor and/or materials are not subject to a lien of any third party which lien is secured by the property; and 3. Said expenses are not set forth on Exhibit "D" attached to this Agreement. Please review the above language and give me a call if you feel that we need to discuss the same. Also, lines 8 and 9 on Exhibit D should be as follows: 8. Lehman Butterwick (CPA) 900.00 9. Holme, Roberts and Owen (attorneys' fees) 1,588.13 Thank you for your continue~ cooperation and courtesy. f~Fy truly yours, C Q. abwjk ~ Greg~cy A. White G~W:jc vtc: Rich Widmer V
SEP 06 '96 10:04 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P.02/30 4 ... SHLP Via Facsimile September 6, 1996 Gregory A. White, Esq. Hammond, Clark & White Bank One Building, Suite 418 200 East Seventh Street Loveland, Colorado 80537 Re: Lone Tree Village Dear Greg: 1 enclose a revised redlined copy of the Contract, which highlights the changes we last discussed. We will reimburse the Seller for the remaining two items, but I no longer had the exact vendors or descriptions, so please call me with this information prior to running a final draft. Please call me to go over this. Sincerely, 45&20 2 Charles D. Rubenstein General Counsel CDR:aam Enclosure cc: Paul Smith SIMPSON HOUSING LIMITED PARTNERS}llP • Pal€,ma LLC, General Partner 3201 Ant,th Tantarac Drive • Suite 200 • Derwcr. CO 80231 • :*13-750-8700 · Vax 303-745-1583
SEP 06 '96 10:04 FR SIMPSON HOUSING 303' 745 1585 TO 19706699380 P.03/30 DRAFT September 6. 1996 AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE Seller: Estes Park Housing Authority, a Colorado body corporate Purchaser: Lone Tree Village Apartments Limited Partnership, a Colorado limited partnership
Jcr- UU /W .W . '0'. 1 1 ~ -'.1 „ -,W'' , .....I... ..I . .W -W-- TABLE OF CONTENTS Section Page 1. Sale.and Purchase. 2. The Property 3. Purchase Price ... 4. Seller's Renresentations and Warranties .. ........................... 5. Purchaser's Representations and Warranties 6. A. Covenants of Seller 8 B. Covenants of Purchaser ......................................... 9 7. ContinRencies 8. The Closing ..... 14 9. Default 10. Brokers ········-············.·····........................ 19 11. Entire Agreement: No Oral Amendments .... ........................ 20 12. Notices 13. Survival 14. Successors and Assigns 15. Computations of Time 16. Effective Date 21 17. Further Assurance 18. Counterparts
SEP 06 '96 10:04 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P.05/30 19. Governing Law ...,.....,,,,,,,......,,,..,,,,, ............. 22 20 Captions: Exhibits 21. Assignability .........-.. ···················-·.............. 22 22. IRS Reporting Requirement# ·······............. 23 angie\document\estes.pks (wp51) ii
JC.[ WW -W-W-' 1 1. -,- 1 -; -j' ..--lill- ....' --- -- AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE THIS AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE (the "Agreement") is dated as of its Effective Date (as defined in Section 16) by and between ESTES PARK HOUSING AUTHORITY, a body corporate, whose address is 170 MacCregor Avenue, Estes Park, Colorado 80517 ("Seller") and LONE TREE VILLAGE APARTMENTS LIMITED PARTNERSHIP whose address is 3201 South Tamarac Drive, Suite 200, Denver, Colorado ("Purchaser"). RECITALS A. The Seller is the record owner of certain unimproved real property known as "Lone Tree Village" located in the Town of Estes Park, County of Larimer, State of Colorado. B. The Purchaser desires to purchase and the Seller desires to sell such property, subject to the terms and conditions set forth in this Agreement. C. The Purchaser intends to construct a 57 unit affordable housing development on such property (the "Project"), with the benefit of certain low income housing tax credits previously obtained by Seller and certain governmental grants being applied for. angie\document\estes.p&s (wp51) 1
SEP 06 '96 10:05 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P.07/30 AGREEMENT NOW, THEREFORE, in consideration of the covenants set forth in this Agreement and the Seller's and the Purchaser's reliance thereon, the Seller and the Purchaser agree as follows: 1. Sale and Purchase. Subject to the terms and conditions of this Agreement, the Seller agrees to sell, and the Purchaser agrees to purchase the Property. 2. Ihe Property. The "Property" means the real properly containing approxi- mately 4.78 acres, known as "Lone Tree Village", located in Estes Park, Colorado, as more particularly described in Exhibit "A" attached hereto, together with: all rights and rights-of-way, easements, privileges, and appurtenances pertaining thereto; all rights of the Seller lying in the bed of any street, highway, alley or right-of-way, whether open, proposed or vacated; all development rights associated therewith; all studies, plans, test reports, surveys, permits, licenses, and all similar instruments and documents, if any, pertaining thereto; all right, title and interest of the Seller in and to all mineral rights, on, in, under, or appurtenant thereto; and all right, title and interest of the Seller, if any, in and to all water, wells, ditches, stock in any water company or rights thereto associated or used in connection therewith. 3. Rurchase Price. Thc purchase price (the "Purchase Price") to be paid by the Purchaser to the Seller to acquire the Property will be l'HREE HUNDRED NINETY SEVEN angie\document\estes.p&s (wp51) 2
WW JW ...1-. I.~ ..r ./ . ~~,.-• •------•- VWq /- - q-- 1- .h .~ I ~.,~~ ~~r~, I--- - .-- --%- THOUSAND DOLLARS ($397,000), payable by the Purchaser executing and delivering to the Seller at the Closing a promissory note, in the form attached hereto as Exhibit "B" (the "Promissory Note"). The Promissory Note will be secured by a deed of trust encumbering the Property in the form attached hereto as Exhibit "C" (the "Deed of Trust"), which will be executed at the Closing and delivered by the Purchaser to the Public Trustee of Larimer County. Colorado, for the use and benefit of the Seller. The Deed of Trust will be subordinate in all respect to the Purchaser's construction loan and permanent loan, as more particularly set forth therein. 4. Seller' s Representations and Warranties. Ille Seller represents and warrants as of the Effective Date and as of the Closing Date (as defined below) that the following representations and warranties are and will be true and correct: (a) Due Authorization. The Seller is a body corporate validly organized and in good standing under the laws of the State of Colorado. This Agreement has been, and all documents to be delivered by the Seller to the Purchaser at the Closing will be, duly authorized, executed and delivered by the Seller; is, and at the Closing will be, legal, valid and binding obligations of the Seller; as of the Closing will be sufficient to convey title to the Property to the Purchaser; are, and at the Closing will be, enforceable in accordance with their respective terms; do not, and at the Closing will not, violate any provisions of any agreement, contract, law, rule or regulation affecting the Property or the Seller or by which the Property or the Seller may be bound or affected. Thc individual executing this Agreement has full power and authorily to bind the Seller as set forth in this Agreement. angie\document\estes.pks (wp51) 3
SEP 06 '96 10:06 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P.09/30 (b) Foreien Person. The Seller is not a "foreign person" within the meaning of Sections 1445 and 7701 of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code") . (c) Subdivision. The Property (i) appears in the public records as a separate lot, alienable without any further requirement of any law, rule or regulation affecting the subdivision of real property, and (ii) comprises a separate tax lot for the levy of real property taxes in the jurisdiction where the Property is located. (d) Governmental Obligations. All payments, land dedications and public improvements required to be made by, to or on behalf of all governmental or quasi- governmental entities having jurisdiction over the Property, except those set forth on the development plan, have been made or will be made by the Seller prior to the Closing Date. Ce) Access. The Property fronts on, and has direct and unobstructed full-turn access to, one or more public highways or streets. All curb cuts for such access as set forth in the approved development plan have been approved by the appropriate governmental entity, and the Seller has received no notice of, nor has any knowledge of, any restrictions with respect to any such curb cuts or any action or proceeding to alter, restrict, eliminate or relocate any such curb cuts. (f) Zoning. The Property is subject to the zoning regulations of the angie\document\estes.p&3 (wp51) 4
WW -W -91. ...'.-, 1 1 . -I .. .. --I . . .------ .... ----- I .... .-W I.- - I -- -- I ----- 1--- - -- -- Town of Estes Park and is zoned for multifamily housing with the development rights for the construction of an affordable housing multi-family project containing at least 57 apartment units, as more fully set forth in the approved development plan. No condition or use on the Property violates the current zoning regulations. (g) Litigation and Proceedings. There is no pending litigation, proceeding or investigation by any governmental authority or any other person against or otherwise affecting any of the Property, nor does the Seller know of any grounds for any such litigation, proceeding or investigation. (h) Tax Prot€. There is no pending application or proceeding for the reduction of the assessed valuation of any of the Property for any tax year. (i) Hazardous Waste. To the best of Seller' s knowledge, there are no hazardous wastes, hazardous substances, toxic chemicals. pollutants or contaminants (as those terms are defined pursuant to any federal, state or local statute, ordinance, code or regulation) located on, in or adjacent to the Property or in the soils or groundwater of the Property. The Seller has neither received nor has knowledge of any claims, notices or directives from any governmental emity with respect to any of the foregoing. There are and have been no underground storage tanks on the Property. The Seller has caused to be performed a "Phase I" environmental assessment of the Property, prepared by Rocky Mountain Consultants, Inc., dated October 3, 1995 (the "Phase: I"), a copy of which has been delivered to Purchaser, and Seller angie\document\cstes.p&s (wp51) 5
SEP 06 '96 10:06 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P.11/30 believes such assessment to be accurate. 0) Other Rights. Other than the Purchaser pursuant to this Agreement, no person or entity has any right or option to purchase or otherwise acquire the Property or any portion thereof or interest therein. (10 Utilities. Public water, sewer, natural gas, telephone and electric lines, conduits or facilities are located at the boundaries of the Property and are of sufficient capacity to service the Project. There are in effect no moratoriums or other restrictions affecting such utilities or their availability to the Property. (1) Assessments. No portion of the Property is subject to or affected by any assessments for improvements. whether or hot a lien thereon. The Seller has no knowledge of any assessments proposed on account of any such improvements or any work proposed, commenced or completed which would give rise to any such assessment. (m) Condemnation. No condemnation proceedings have been commenced and the Seller has no knowledge or notice of any contemplated condemnation proceeding against the whole or any part of the Property. (n) Not Misleading. No representation or warranty made by the Seller in this Agreement or in any statement or certificate already furnished or to be furnished by the angie\document\cstes.p&.s (wp51) 6
Dcr ULI .W .W.LI * 1. -'.1 11 VW- 1 .9---I- ¥w. I .- ---- - - -- --- Seller in connection with the transaction contemplated herein contains or will contain any untrue statement or omits or will omit to state a material fact necessary to make the statements contained therein not misleading. (0) Documents. The documents delivered to the Purchaser by the Seller will be all of the instruments, documents and agreements binding upon the Seller or the Property pertaining to the title, condition, use or operation of the Property and the expenses to which it is subject, will be true and correct copies, ant unless otherwise indicated, will be in full force and effect in accordance with the terms thereof. (p) Tax Credits. Seller had received from the Colorado Housing and Finance Authority ("CHFA") a Carryover Allocation for $490,356 per annum of 1995 low income housing tax credits allowing development of 57 multi-family units on the Property (the "Tax Credits"). 5. Purchaser' s Representations and Warranties. The Purchaser represents and warrants as of the Effective Date and as of the Closing Date that the following representations and warranties are and will be true and correct: (a) Due Authorization. This Agreement has been duly authorized, executed and delivered by the Purchaser. angie\documentiestes.pis (wp51) 7
SEP 06 '96 10:07 FR SIMPSON HOUSING 303 745 1585 TO 19706699380 P. 13/30 (b) Foreimn Person. The Purchaser is not a "foreign person" within the meaning of Sections 1445 and 7701 of the Internal Revenue Code. 6. A. Covenants of Seller. The Seller will perform each of the following: (a) Tests and Inspections. From the Effective Date to and including the Closing Date, the Seller will permit the Purchaser to make such surveys, soil tests and borings and other inspections related to the Property which the Purchaser deems necessary or desirable. The Seller agrees to cooperate fully with any such tests or inspections made by the Purchaser or althe Purchaser's direction. The Purchaser will indemnify and hold the Seller harmless from any loss, cost, claim or expense, including, without limitation, attorneys' fees, arising out of the Purchaser's tests and inspections of the Property pursuant to this Section. (b) Delivery of Documents. The Seller will deliver or make available to the Purchaser, at or promptly after execution of this Agreement, copies of any relevant studies, plans, test reports, surveys, permits, licenses and similar instruments and documents with respect to the Property in the possession of the Seller or under the Seller's control for the Purchaser's information and review. (c) Title Commitment and Tax Certificate. The Seller. at the Seller's expense, has delivered to the Purchaser and the Purchaser's attorney, with respect to the Property, a current real property tax cmtificate (the "Tax Certificate") and a current commitment ("Title angie\document\estes.p&s (wp51) 8
Dcr UO 20 1 U i U 1 , F. 4.1.1 Jwl ' , I...... I I ./. J.J J 1 -'W-2 1.. . 1 I WWW - Commitment") from the Title Company for the issuance of an ALTA form B-1970 (Rev. 1-17-70 and 1 -17-84) Owner's Policy of Title Insurance (the "Owner's Policy") to the Purchaser in an amount equal to the Purchase Price together with good and legible copies of all instruments constituting exceptions or conditions to the Seller's title as reflected in the Title Commitment and any instruments referred to in such instruments. The Title Commitment sets forth the requirements of the Title Company for deleting all of the standard pre-printed exceptions from the Owner's Policy, except real properly taxes which are not yet due and payable. (d) New Agreements. The Seller will not (unless the Purchaser will have previously given its prior consent in writing) enter into any agreement affecting the Seller or the Property which will interfere with the Seller's ability to close the transaction contemplated in this Agreement or bind the Purchaser or the Property after the Closing. (e) Seller' s Cooperation. The Seller agrees to execute and deliver, promptly upon request, such applications and other documents and information as may be reasonably required to accomplish any provisions of this Agreement, and to cooperate fully with the Purchaser in fulfilling all of the covenants and satisfying all of the contingencies set forth in this Agreement. B. Covenants of Purchaser. (a) Purchaser shall diligently pursue all necessary financing sources for angie\document\estes.p&5 (wp51) 9
SEP 10 '96 14:20 FR SIMPSON HOUSING 303 745 1585 10 19706699380 P.02/17 the contemplated development of the Property, including the tax credit equity, construction financing and permanent financing. (b) Following the Closing, Purchaser shall diligently prosecute the construction and completion of the Project as an affordable housing project in accordance with such designs, budgets, plans and specifications previously delivered to Seller or the Town of Estes Park. Ihe design of the Project as submitted for utility approvals, variances and other reguired state and local peimits and approvals for the development of the Project shall be substantially in accordance with the design previously approved by Seller. Any material deviations therefrom shall be subiect to Seller's approval, which approval will not be ,!mreasonably withheld or delayed. Seller will cooperate with Purchaser in all respects in its efforts to obtain the Approvals. During the construction of the Project, Purchaser shall keep Seller informed of all material issues concerning the progress of construction. In furtherance of the preceding sentence, Purchaser and Seller shall meet monthly to review the progress of construction. This covenant shall survive the Closing. (c) In the event that Purchaser fails to commence construction within _ #nety days after the date hereof or if, following Purchaser' s commencement of construction. ~ Purchaser shall abandon construction for a period of ninety days or more (unless such abandonment is due to 9ather conditions or other acts of God or events beyond Purchaser's control and Purchaser is using its diligent efforts to re-commence construction and complete the Project), then either party shall have the right to cause the reconveyance of the Property to Seller, angie\document\estes.pas (wp51) 10
.ILl . U .W 1 1. 1 1....1 J I 1 ./. JUJ 1 -J 1 JUJ IW 12'UOOP/JOU r. LI -)/ 1 I bv notice to the other party. Within twenty (20) days after the giving of such notice, Purchaser shall deliver to Seller a deed for the Property in recordable form, together with any other jnstruments as may be necessary to reconvey to Seller the Property and any improvements made thereon by Purchaser. Simultaneously with such reconveyance. Seller shall reimburse Purchaser for all verifiable reasonable out-of-pocket costs and expenses which Purchaser has incurred to the date of reconveyance in connection with the development of the Project. 7. Contingencies. The Purchaser's obligation to purchase the Property is made expressly conditional upon the timely satisfaction of all of the contingencies set forth below: (a) Iax Credit Equity. The Purchaser will use its diligent efforts prior to Closing to obtain a commitment from a tax credit investor to contribute equity capital for acquiring and developing the Property on terms satisfactory to the Purchaser. If the Purchaser does not obtain such equity contribution commitment prior to Closing, this contingency will be deemed unsatisfied. (b) Approval of Title and Tax Certificate. On or before Closing, the Purchaser will notify the Seller's attorney in writing as to any objections to matters contained in the Title Commitment. The Seller will use diligent efforts to curc any such objection, at the Seller's expense. If any such objections remain uncured and the Purchaser does not waive such objections in writing, this contingency will be deemed unsatisfied. The eXCeptiOnS tO title angie\document\estes.p&s (wp51) 11
SEP 10 '96 14:20 FR SIMPSON HUUKINU -DED i'42, 1 -DOD 1 1-1 1 7 1 LIno - 7 -HOL r . u-/ 1 1 . accepted by the Purchaser pursuant to this Section are referred to in this Agreement as the "Permitted Exceptions." Notwithstanding the foregoing, Seller shall not be obligated to cure any objections where the cure requires the payment of money in excess of $5,000, other than objections for taxes, deeds of trust and other liens created by Seller's acts or failures to act, although any such objections. which are not cured shall not constitute Permitted Exceptions. (c) Bankruptcy. At all times between the Effective Date and the Closing Date, the Seller will not be in receivership; will not have made an assignment for the benefit of creditors; will not have admitted in writing its inability to pay its debts as they mature; will not have been adjudicated a bankrupt or have filed a petition in voluntary bankruptcy or a petition or answer seeking reorganization or an arrangement with creditors under the federal bankruptcy law or any other similar law or statute of the United States or any State; and no such petition will have been filed against any of the Seller; otherwise, this contingency will be deemed unsatisfied. (d) Casualty and Condemnation. Prior to the Closing Date, the Property will not have suffered any damage or casualty, and there will not have been commenced or threatened any proceeding ft,r the taking by any governmental or quasi-governpental entity of any part of the Property; otherwise this contingency will be deemed unsatisfied. If the Purchaser waives this contingency in writing, the Purchaser will accept the Property in the condition in which it is left following such damage, casualty or taking, with an abatement of the l'urchase Price equal to the proceeds of any insurance or condemnation award allowed. or, if such proceeds angie\document\estes.pks (wp51) 12
have not been collected by the Seller at the time of the Closing, with an assignment by the Seller to the Purchaser of all rights to the collection of such proceeds. (e) Representations and Warranties. All of the representations and warranties of the Seller contained in Section 5 and elsewhere in this Agreement are true and correct on the Closing Date, as if made as of the Closing Date; otherwise, this contingency will be deemed unsatisfied. (f) Tax Credits. Purchaser and Seller will use their diligent efforts prior to Closing to cause CHI?A to transfer the Tax Credits to Purchaser. IF CHFA fails or refuses to transfer the Tax Credits to Purchaser prior to Closing, this contingency will be deemed unsatisfied. (g) Environmental Inspection. Seller has delivered to Purchaser a copy of the Phase I and shall cause the Phase I to be certified to Purchaser prior to the Closing. Purchaser shall, during the inspection Period, review the Phase I, and conduct any additional environmental studies of the Property as Purchaser deems necessary. lf Purchaser in its sole discretion becomes dissatisfied prior to Closing with the environmental condition of the Property, this contingency will be deemed unsatisfied. Each of the contingencies set forth above is for the sole benefit of tile Purchaser and may be waived by the Purchaser by v/ritten notice to the Seller. Should one or more of the contingencies angie\documentlestes.pa (wp51) 13
DEr 10 =,0 14· al rK blt'trbUrl MUUb 1 INU DUO t'4D 1-OD I U 17 CE,Objt'JOU M. Ub/17 set forth above not be satisfied or waived by the Purchaser on or before the date required, then upon notice from Purchaser to Seller given not more than ten days after the expiration of the applicable date, this Agreement will be deemed terminated and each party will be relieved of all further obligations under this Agreement. 8. The Closing. (a) The Closing Date and Place. The "Closing" will mean the payment of the Purchase Price and th{: execution and delivery of the documents described below. Unless otherwise agreed to in writing by the parties, the Closing will occur on the Effective Date of this Agreement. The Closing will take place by the delivery of all required documents and payments to the Title Company, together with appropriate escrow instructions from the Purchaser and the Seller to the Title Company. The actual date of the Closing is referred to in this Agreement as the "Closing Date." (b) Documents at the Closing. At the Closing, the following documents and materials, each duly executed and acknowledged as appropriate, will be delivered by the parties: 0) A Statutory General Warranty Deed conveying the Property, subject only to the Permitted Exceptions, from the Seller to the Purchaser. angie\documentlestes.pds (wp51) 14
ac.r . W . 1 . ... -- Il.V . .... -d .#-I-q/.--d --1-- . (ii) An Assignment of Licenses, Permits and Other Intangibles, from the Seller to the Purchaser. (iii) Any affidavits or indemnities required from the Seller by the Title Company in order to omit from the Owner's Policy all exceptions for unfiled or unrecorded mechanics', materialmen's or other liens with respect to the Property, for unrecorded easementf and for parties in possession. (iv) A Certification as to Non-Foreign Status from the Seller pursuant to Section 1445 of the Internal Revenue Code. (v) A Certificate of the Seller stating that all of the representations and warranties of the Seller made in Section 4 and elsewhere in this Agreement are true and correct on the Closing Date as if made as of the Closing Date. (Vi) The Promissory Note from the Purchaser to the Seller. (Vii) The Deed of Trust from the Purchaser for the benefit of the Seller. (Viii) Certified copy of a Resolution of the,Estes Park Housing Authority authorizing the sale of the Property to Purchaser for the Purchase Price pursuant angie\document\estes.pas (wp54 15
DCr 1 21 20 14•al rr D 1 l' Ir DUIN MUU 1 1 IND -DUD <42. 1 Z>AD 1 U 1.9 <Ubbld,9-580 P.08/17 to the terms of this Agreement. (ix) The Closing Statement (as defined below). 00 An agreement with the Title Company setting forth the closing documents to be recorded, the form of the Owner's Policy, and instructions to record and deliver documents and disburse payments in accordance with the Closing Statement when all conditions precedent to the disbursement of the balance of the Purchase Price due to the Seller, the recording of ally closing documents and the issuance of the Owner's Policy to the Purchaser have been met. (Xi) Such documents evidencing the Seller's partnership or corporate existence, good standing, qualification to do business, or authority to complete this transaction as may be required by the Title Company or reasonably required by the Purchaser. (Xii) Any other agreement, document or instrument required by this Agreement to be delivered by either party or reasonably necessary to carry out the provisions of this Agreement. (c) Closing Statement. The "Closing Statement" to be delivered by the parties at the Closing will reflect the Purchase Price and a proration as of 11:59 p.m. on the date angie\document\estes.pks (wp51) 16
preceding the Closing Date of real property taxes and any other prepaid or accrued expenses affecting the Property. The Closing Statement will reflect the fact that the Seller is obligated to pay the premium for the Owlier' S Policy; the Purchaser will be responsible for payment of fees for recording the deed, the Deed of Trust and any other conveyance documents and any documentary or other fees payable in connection with such recording; the Seller will be responsible for paying all excise and similar taxes imposed on the conveyance of the Property, each party will pay the fees of all attorneys representing such party; and the Seller and the Purchaser will each be responsible for payment of one-half of any closing or escrow fees charged by the Title Company. At Closing, Purchaser shall reimburse Seller for the costs set forth on Exhibit D, which costs Seller represents have been fully paid. (d) Adiustments and Prorations. Proration for real property taxes will be based upon the most recent assessed valuation and mill levy then available with respect to the Property and will be final as made at the Closing. If, on the Closing Date. the Property will be or will have been affected by any special assessment or assessments which are or may become payable in annual installments, then, whether or not any such assessment or installment is then a charge or lien or was or is payable on or prior to the Closing Date, for the purposes of this Agreement, all the unpaid installmems of any such assessment (including those which are to become due and payable after the Closing) will be deemed due and payable and to be liens upon the Property prior to the Closing Date and will not be apportioned between the Seller and the Purchaser, but will be paid and discharged in full by the Seller at or prior to tile Closing. angle\document\estes.pks (wp51) 17
-,LI .W r n 2 111/JUIN nUL,! D i I ill DOD r ./D 1 DOD 1 L.1 1 J (Ubtl'ylkit] P. 10/17 (e) Payment of Encumbrances. Any liens and encumbrances on the Property may be paid by the Seller at the Closing with proceeds from this transaction or from any other source. (f) Possession. Possession of the Property will be delivered to the Purchaser on the Closing Date, subject to no leases or tenancies except those included in the Permitted Exceptions. (g) Title Insurance Policy. At the Closing, the Seller will cause the Title Company to furnish or imconditionally agree to furnish the Owner' s Policy to the Purchaser, insuring merchantable title to the Property in the Purchaser, in the amount of the Purchase Price. The Owner's Policy will be subject only to the Permitted Exceptions. 9. Default. If any obligation hereunder is not performed as provided in this Agreement, the following remedies will apply: (a) The Purchaser's Default. If the Purchaser is in default, any money paid by Purchaser toward the purchase of the Property will be forfeited by the Purchaser to the Seller, and both parties will thereafter be released from all obligations hereunder. It is agreed that the amount of damage:; which may be suffered by the Seller in the event of default by Purchaser is difficult or impossible to measure and that, accordingly, the forfeiture of such sums constitutes liquidated damageS and will be the Seller' s sole remedy for the Purchaser's failure to angie\document\citcs.p&$ (wp51) 18
- perform the obligations of this Agreement. The Seller expressly waive the remedies of specific performance and additional damages. (b) The Seller' s Default. If Seller is in default, the Purchaser will have the right either (i) to treat ttis Agreement as terminated, in which case any sums paid by the Purchaser hereunder will be returned to the Purchaser, or (ii) to treat this Agreement as being in full force and effect and obtain specific performance or recover such damages as may be proper, or both. (c) Costs and Attorney Fees. If any litigation arises out of this Agreement, the court may award to the prevailing party all reasonable costs and expenses, including, without limitation, attorney fees. 10. Brokers. Each party represents that it has not engaged the services of any real estate agent, broker or finder in connection with this transaction. The Purchaser and the Seller each agree to indemnify. defend and hold the other harmless from and against any and all liability, loss, cost, damage and expense, including, without limitation, attorneys' fees and costs of litigation, which either will ever suffer or incur because of any claim by any agent, broker or finder, whether or not meritorious, for any fee, commission or other compensation with respect to this Agreement or the sale and purchase of the Property contemplated hereby and resulting from the acts of the indemnifying party. angielocumenl\estes,pks (,451) 10
1 1/ / 1 , 1/ JL'll r-IL,LI J i INU JEJ J 1 DOJ I u 11 r *1155. t'.5 -)510 M. 12/ 17 11. Entire Agreement: No Oral Amendments. This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof, and all prior agreements or understandings will be deemed merged in this Agreement. No amendments. waivers or modifications of or to this Agreement will be made or deemed to have been made unless in writing, executed by the party or parties to be bound thereby. 12. Notices. All notices, consents or other instruments or communications provided for under this Agreement will be in writing. signed by the party giving the same, and will be deemed properly given and received when delivered personally, by confirmed facsimile transmission or by Federal Express or other similar overnight delivery service and when actually received, if sent by certified mail, return receipt requested, postage prepaid, to the address of a party set forth at the beginning of this Agreement or to such other address as such party may designate by written notice to the other party given in accordance with this Section. All notices to the Purchaser will be delivered faxed or mailed, contemporaneously and in the same manner, to the attention of Messrs. Charles Rubenstein and E. Scon McFadden, fax number (303) 745- 1585. Copies of any notices to the Seller will also be delivered or mailed, contemporancously and in the same manner, to the Seller's attorney: Gregory A. White Hammond, Clark & White Bank One Building, Suite 418 200 East Seventh Street Loveland, Co]orado 80527 angie\document\estes.p&5 (951) 20
-W -W -- --I -- ---- - --- Fax number: (970) 669-9380 13. Survival. All obligations, warranties and representations of each of the parties hereunder which are not performed or fully discharged by or through the Closing will remain enforceable and in full force and effect after the Closing. 14. Successors and Assigns. This Agreement will be binding upon, and inure to the benefit of, the parties hereto and their respective heirs, representatives, successors and assigns. The Purchaser may not assign this Agreement without the consent of the Seller. 15. Computations of Time. In computing any period of time under this 4 Agreement, the date of the act, event or default from which the designated period of time begins to run will not be included. The last day of the period so computed will be included unless it is a Saturday, Sunday, or legal holiday, in which event the period will run until the end of the next day which is not a Saturday, Sunday, or legal holiday. 16. Effective Date. This Agreement shall be effective upon its signing by Purchaser and Seller. The Effective Date shall be the date of its signing by the last to sign of Purchaser and Seller. provided notice of such signing is given in accordance with this Agreement. If this Agreement is signed by Seller or Purchaser and not signed by the other within 7 days thereafter, at the option of the signing party exercised at any time before thc non-signing party signs this Agreement, this Figreement shall be null and void. The effective date of any other instrument will be the date of delivery in accordance with Section 11 to the party to which it is angie\documentlestes.pa (wp51) 21
SEP 10 '96 14:23 1-1€ 51 MP'5UN HUUKING 303 745 lt:>tlb I U lt'706599 380 F.14/17 addressed. The effective dat:of any other instrumeni will be the dale of delivery in accordance with Section 12 to the party to which it is addressed. 17. Further Assurances. The parties agree to execute such instructions to the Title Company and such other documents and instruments as may be reasonably necessary to carry out the provisions of this Agreement. 18. Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original and all of which together will constitute a single instrument. 19. Governin2 Law. This Agreement will be governed by and construed in accordance with the laws of the State of Colorado. 20- Captions: Exhibits. The captions in this Agreement are inserted for convenience of reference only, do not constitute a part of this Agreement, and in no way define, describe or limit the scope or intent of this Agreement or any of the provisions hereof. The Exhibits referred to as being attached to this Agreement are intended to be incorporated in this Agreement by such reference. 21. Assignability. Purchaser, with the consent of Seller which may be withheld in Seller' s sole discretion, may assign its rights and obligations hereunder. In the event of such an assignment, Purchaser shall be released from all obligations under this Agreement if the angie\document\estes.0&3 04*51) 22
4-1 . L. -/W .6.- 6.-9. . .. W.. .. -W. . . .----I .- --- I .- --9.-r~- I - -- I --1-- ---- . - -- - assignee assumes and agrees to perform this Agreement. 22. IRS Reporting Requirements. For the purpose of complying with any information reporting requirements or other rules and regulations ofthe Internal Revenue Service ("IRS") that are or may become applicable as a result of or in connection with the transaction contemplated by this Agreernent, (collectively, the "IRS Reporting Requirements"), Seller and Purchaser hereby designate and appoint the Title Company to act as the "Reporting Person" (as that term is defined in the IRS Reporting Requirements) to be responsible for complying with any IRS Reporting Requirements. The Title Company hereby acknowledges and accepts such designation and appointment and agrees to fully comply with any IRS Reporting Requirements that are or may become applicable as a result of or in connection with the transaction contemplated by this Agreement. Without limiting the responsibility and obligations of the Title Company as the Reporting Person, Seller and Purchaser hereby agree to comply with any provisions of the IRS Reporting Requirements that are not identified therein as the responsibility of the Reporting Person, including, but not limited to, the requirement that Seller and Purchaser each retain an original counterpart of this Agreement for at least four (4) years following the calendar year of the Closing. angie\document\estes.pis (wp51) 23
SEP 10 '96 14:24 FR 5 IMP50N HOUSING 303 745 1585 I U 19706699380 P.16/17 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated above. Seller: ESTES PARK HOUSING AUTHORITY Dated: , 1996 By: Purchaser: LONE TREE VILLAGE APARTMENTS LIMITED PARTNERSHIP By: , LLC, general partner Dated: , 1996 By: General Manager angie\document\estes.p&s (wp51) 24
SEP 10 '96 14:24 FR SIMPSON HOUSING 303· 745 1585 TO 19706699380 P. 17/17 EXHIBIT D Amounts To Be Reimbursed by Purchaser to Seller at Closing 1. CHFA application fee $ 1,000.00 2. CHFA reservation fe. 9,807.30 3. CHI:A carryover fcc 12,260.00 4. Fishkin & Assoc. Architect's fees 5,781.76 5. Van Horn Engineering - site survey 1,405.00 6 Rocky Mountain Consultants (Phase I) 2,500.00 7. Bonnie Roerig (Rent Study) 3,000.00 8. 9. angieldocument\estes.p&5 (wp51) 25 ** TOTAL PAGE.17 **