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HomeMy WebLinkAboutWS-96-1 SENT BY: ~ 7-25-95 :10:073hi ;LaFF STE[N C9M~ELL ~ 2/ 3 ARTICLES OF ORGANIZATION of 28 AR PARTNERS LLC i ;,?y ,,: -. ~ sE _ • G' fL"~ ;i,'/. The undersigned, a natural person of at least 18 years of age, acting as organizer, hereby forms a limited liability company by virtue of the Colorado Limited Liability Company Act, and executes and delivers the following Articles of Organization for such &mited liability company. ARTICLE I. Name and Address The name of the limited liability company is 28 AR PARTNERS LLC and its principal place of business is 1165 So. Pennsylvania St., Denver, CO 80210.1530. " ARTICLE II. R~'stered AEent The registered agent of this limited liability company in this state is Alan D. Laff. The business address of the registered agent is 7730 East i3eIleview Avenue, Sane 204, Englewood, Colorado 80111-2616. ARTICLE III. anagement of the ('om~anv The management of the Company is vested in the Members. ARTICLE 1V. Members The names and business addresses of the initial Members areas follows: 1 gEV'T SY: -- ' 7-25-95 :10:08:1N ;L9FF STEIN C1MP~1L :# 3/ 3 Name AR Group 1165 So. Pennsylvania St. Denver CO 80210-1530 Marvin R. Gazt 1001 Lincoln Street Denver, CO 80203 IN WITNPar5 W$EREOF, I have signed these Articles of Organization this 24th day of July, 1995, and I aclmowledge the same to be my true act aad deed. ' Alan D. Laff, an . r STATE OF COLORADO COUNTY OF ARAPAT-TOE ~ SS The foregoing Articles of Organization were signed and sworn to by Alan D. Taff, as Organizer, who affirmed, under penalty of perjury, that the facts stated herein are true, on this 24th day of July, 1995. Witness my hand and official seal. ~ ~ ~j TERESA t7 -, .~ _.~G'«-~. ~..r _~''~~C..S~. r3..~ NDERSON Notary Public ,f 0 ~ ~co..m expires: `~~r~i~ n.,__.n CONSENT OF REGISTERED AGENT The undersigned hereby consents to act as Registered Agent in the State of Colorado for the foregoing entity. AlanAlan D~Iaff 2 JOINT VENTURE AGREEMENT OF APPLEWOOD RESERVE VENTURE THIS AGREEIvfENT made this a-/ day of 7uly, 1995, between 28 AR PARTNERS LLC and APA DISTINCTIVE, LTD., APPLEWOOD, a Colorado limited partnership, (hereinafter called "Joint Venturers"), VYITNESSETH, THAT IT IS HEREBY AGREID AS FOLLOWS: 1. Formation of joint Venture. 1.1 Name. The parties hereto shall constitute a joint venture under the firm name of APPLEWOOD RESERVE VENTURE. 1.2 Place of Business. The principal place of business of the joint venture shall be at 1165 South Pennsylvania Street, Denver, CO 80210. 2. Obiect. The object of the Joint Venture is to acquire and complete the infrastructure and development according to the scope of project described in Exhibit B and the Development Plan described in Exhibit C of atwenty-eight custom home development located on property described in Exhibit A hereto, to sell such developed lots, all with a view to the production of profit and to carry on any and all activities related thereto. 3. .a ~t . i 3.1 Initial Ca it Contribution. Each of the Joint Venturers shall forthwith pay to the credit of Applewood Reserve Venture the capital contribution set forth opposite its name as a contribution to the capital of the Joint Venture: Name 28 AR Partners LTC APA DISTINCTIVE, LTD., APPLEWOOD, a Colorado limited partnership Contribution $100,000.00, which shall be in the form of good funds. The property described in Ezhihit A and all rights in connection therewith wlrich is valued at a gross value of $1,350,000, subject to a first mortgage in the amount of $1,250,000 and a loan of $100,000, both of which shall be deducted for purposes of calculating capital accounts. 1 Third Draft 7-20-95 3.2 Additional Capital Contributions. It is contemplated that the Joint Venture may require funds at any time and from time to time to carry out the purposes for which the Joint Venture is formed. In the event that at any time, and from time to time, funds are required by the Joint Venture for or in respect of the Joint Venture's business or any of the Joint Venture's obligations, expenses, costs or expenditures, and in the event that such required funds aze not available from the Joint Venture's assets, the Joint Venturers shall contribute such required additional funds to the capital of the Joint Venture and shall receive appropriate credit to their respective Capital Accounts. In that event, 28 AR Partners LLC shall be required to contribute the first $250,000.00 of funds, which shall be deposited in escrow according to the Settlement Agreement between APA Distinctive, Ltd., Applewood and James H. Brown, a copy of which is attached as Exhibit D, required to complete the infrastructure of the project plus contribute $100,000.00 to pay interest payments on the first mortgage on the Company real property. Thereafter, all required additional capital contributions shall be made by APA Distinctive, Ltd., Applewood. Notwithstanding the foregoing, if the increase in cost to complete the infrastructure of the project is the result of a budget change initiated by 28 AR Partners LLC to the budget which is set forth in Exhibit B hereto, then 28 AI2 Partners LLC will be required to contribute the amount by which such increase causes such costs to exceed $250,000.00. AlI decisions as to the need for additional capital contributions shall be made solely by 28 AR Partners LLC. 3.2.1 Unlmown Candidons or Regulatory Changes If the budget set forth in )exhibit B hereto is changed because of acts of God, labor disputes, fire,, adverse weather conditions, unavoidable casualty, concealed or unlrnown conditions, or corrections necessitated by the enactment or revision of codes, laws, regulations, or governmental agencies having jurisdiction over the Joint Venture property, or by other causes beyond the control of the Joint Venturers, then the budget set forth in Exhibit B shall be increased and AR Partners LLC's additional capital contriburions shall be increased to cover such additional cost. APA Disrinctive, Ltd., Applewood represents and warrants to AR Partners LLC that it has no notice of any costs or conditions relating to the joint Venture property not described or disclosed in the exhibits hereto and APA Distinctive, Ltd., Applewood shall indemnify AR Partners LLC and hold AR Partners LLC harmless against any cast, loss or damage in connection with a breach of this warranty. 3.2.2 Budeet Adj=ustments. The Joint Venturers acknowledge that the infrastructure budget set forth in Exhibit B is based on the Development Plan set forth in Exhibit C. The parties acknowledge that there may be reallocations between Line items of Exhibit B, but this does not authorize any new line items in Exhibit B. 3.3 Defaulting Venturers. If any ?oint Venturer fails Yo pay as it becomes due such Venturer's share of any additional capital contribution under paragraph 3.2, such Joint 2 znua Draft v-2o-9s 7'Gjh ' ~ (IFon1 ~ 3a Doi %"-~t~';~:~ aofcE ja~f~icTi,~~j, ~ J IP<AYj'J/L~il. TNAf f~~/ NYIE lu OLrP~Ci. / ~~ Cl ~i Venturer shall be a "defaulting Venturcr~ The other Joint Venturers sh have the right for A'`~ a period of sixty (60) days after a Joint Venturer becomes a defaulting Joint Venturer to U~il1.~~ purchase the defaulting Venturer's interest in the Joint Venture at the "buy-out price" (as defined ~ in subparagraph 3.4) of such interest as of the date the Venturer becomes a defaulting Venturer~'n'r To exercise a right to purchase, a purchasing Joint Venturer shall give written notice to the ~~ ~O' defaulting Venturer. Upon exercise of a right to purchase and provided the right is exercised prrr~on. with respect to all of the defaulting Venturer's interest in the Joint Venture, the Joint Venture interest so purchased shall be promptly assigned to the purchaser (subject to a proportionate part of any obligation under paragraphs 3.1 or 3.2 with respect to such interest) and he shall pay for the interest purchased in cash within ninety (90) days after the date of exercise of the right to purchase. This paragraph shall not limit or otherwise restrict any other remedies which the Joint Venture or Joint Venturers may have against a defaulting Venturer for failure to contribute additional capital under paragraph 3.2, including the right to pursue any remedy available to them at law or in equity to enforce such obligation, to recover damages for breach of such obligation, and to off-set any amounts otherwise due such defaulting Venturer against amounts owing by the defaulting Venturer to the Joint Venture. 3.4 Buv-Out Price. The buy-out price of a defaulting Venturer's interest shall be fifty percent (50%) of the book value of that interest as of the last day of the month immediately preceding the month during which the Joint Venturer owning that interest becomes a defaulting Venturer (the "valuation date"), or the buy-out price will be the amount equal to 75% of the total capital contributions by the defaulting Venturer reduced by all distributions of capital to such Venturer, whichever is lower. 3.5 Return on Capital Contributions. Venturers shall be entitled a cumulative return of 12 % per annum on all capital contributions to the Joint Venture, such return to be paid prior to the distribution of any Available Cash or Net Capital Proceeds. The Venture shall use reasonable efforts to pay such return quarterly to the extent funds are available. 4. Venturer ' aoitai A cou*++c, ts, ~p~yie capital account ("Capital Account") shall be maintained for each Venturer. The Capital Accounts of each Venturer shall initially reflect the amounts specified in Section 3.1, and, if a Venturer has merely promised to contribute the amount specified in Section 3.1 the joint Venture shall maintain a corresponding subscription receivable on behalf of that Venturer. No Venturer shall withdraw any part of such Venturer's Capital Account, except as specifically set forth herein or except upon the approval of all of the Venturers. The Capital Accounts shall in all respecLS comply with the requirements of Treasury Regulations §1.704-1(b)(2)(v) with respect to the proper maintenance of Capital Accounts. 4.1 Allocations. 4.I.1 Profitc and .Subject to the special allocations provisions of Section 4.3 of this Agreement, the Venturers' distributive shares of profits or losses of the joint Venture for any fiscal year shall be as follows: 3 Third Draft 7-20-95 (a) Gain realized by the Joint Venture from the Disposition (as hereinafter defined) of Joint Venture Property shall be allocated as follows: i) The fast $500, 000.00 of gain shall be allocated 65 % to 28 AR Partners LLC and 35% to APA Distinctive, Ltd., Applewood. ii) Profits between $500,001.00 and $ 800,000.00 shalt be allocated 50% to 28 AR Partners LLC and 50% to APA Distinctive, Ltd., Applewood. iii) Profits between $800,001.00 and $840,000.00 shall be allocated 100% to APA Distinctive, Ltd., Applewood. iv) All profits over $ 840, 001.00 shall be allocated 50 % to 28 AR Partners LLC and 50% to APA Distinctive, Ltd., Applewood. (b) Losses realized by the joint Venture from the Disposition of Joint Venture Property shall be allocated 65 % to 28 AR Partners LLC and 35 % to APA Distinctive, Ltd., Applewood, provided, however, in the event the Capital Account of either Venturer is zero or negative, then aIl losses shall be allocated to the other Venturers until their Capital Accounts are zero, after which, losses shall be allocated 65% to 28 AR Partners LLC and 35% to APA Distinctive, Ltd., Applewood. 4.2 General Provisionc. 4.2.1 Except as otherwise provided in this Agreement, the Venturers' distributive shares of all items of Joint Venture income, gain, loss, and deduction aze the same as their distributive shares of joint Venture profits and losses. 4.2.2 Profits, losses, and other items properly allocable to any period shall be allocated using any method permitted by Code §706 and the Regulafions thereunder. 4.2.3 The Venturers agree to report their shares of income and loss for federal income tax purposes in accordance with the provisions of this Article 4. 4.3 Speciai~. 4.3.1 Iv$nimum Gain harg be ack. Notwithstanding any other provision of Article 4, if there is a net decrease in partnership Minimum Gain {as defined in Regulation §1.704-2(d)) during any Joint Venture fiscal year, then each Venturer shall be allocated such amount of income and gain for such year (and subsequent years, if necessary) determined under and in the atanner required by Regulation §1.704-2(f) as is necessary to meet the requirements for a minimum gain chargeback as provided in that Regulation. 4 Third Dratt 7-20.95 • 4.3.2 Partner Nonresn„rcr Debt IvLnimum ,a;n hargeback. Notwithstanding any other pronsron of Article 4 except Section 4.3.1, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain (as defined in accordance with Regulation §1.704-2(i)(3)) attributable to a Partner Nonrecourse Debt (as defined in Regulation §1.704-2(b)(4)) during any Joint Venture fiscal year, any Venturer who has a shaze of the Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt determined in accordance with Regulation §1.704-2(i)(5), shaI2 be allocated such amount of income and gain for such yeaz (and subsequent years, if necessary} determined under and in the manner required by Regulation §1.704-2(i)(4) as is necessary to meet the requirements for a minimum gain chazgeback as is provided in that Regulation. 4.3.3 Qualified Income Offer, If a Venturer unexpectedly receives any adjustment, allocation or distribution described in Regulation §1.704-1(b)(2)(ii)(d)(4}, (~ or {6), items of Joint Venture income and gain shall be specially allocated to such Venturer in an amount and manner sufficient to eliminate, to the extent required by the Regulations, the Adjusted Capital Account Deficit of such Venturer as quickly as possible, provided that an allocation pursuant to this Subsection shall be made only if and to the extent that such Venturer would have an Adjusted Capital Account Deficit after all other allocations provided for in Section 4.1 and this Section 4.3 of this Agreement tentatively have been made as if this Section 4.3.3 were not in this Agreement. 4.3.4 Code_ &7g4 ~diuctment. To the extent that an adjustment to the basis of any asset pursuant to Code §734(b) or Code §743(b) is required to be taken into account in determining Capital Accounts as provided in Regulation § 1.704-1(b)(2)rv) (m}, the adjustment shall be treated (if an increase) as an item of gain or (if a decrease) as an item of loss, and such gain or loss shall be allocated to the Partners consistent with the allocation of the adjustment pursuant to such Regulation. 4.3.5 Nonrecourse Deductions, Nonrecourse Deductions (as determined under Regulation §1.704-2(c)) for any fiscal year shall be allocated among the Venturers in proportion to their respective Joint Venture Interests. 4.3.6 der NOnrernnnP eductions. Any partner Nonrecourse Deduction (as defined in Regulation §1.704- 2()(2)) shall be allocated pursuant to Regulation §1.704-2(i) to the Venturer who bears the economic risk of loss with respect to the Partner Nonrecourse Debt to which it is attributable. 4.3.7 Allocations Relafine m 'ra:ahtP Iss„ancp of Toint Venture Intere t. Any income, gain, loss or deduction reabzed by the Joint Venture as a direct or indirect result of the issuance of a Joint Venture Interest by the Joint Venture (the "Issuance Items") shall be allocated among the Venturers so that, to the extent possible, the net amount of such Issuance Items, together with all other allocations under this Agreement to each Venturer, shall be equal to the net amount that would have been allocated to each such Venturer if the Issuance Items had not been realized. h 'Bird Draft 7-20-95 4.3.8 Pyroose and Aypli ation. The purpose and the intent of the special allocations provided for in this Section 4.3 are to comply with the provisions of Regulations § 1.704-1 (b) and § 1.704-2, and such special allocations aze to be made so as to accomplish that result. However, to the extent possible, the Venturers, in allocating items of income, gain, loss, or deduction among the Venturers, shall take into account the special allocations in such a manner that the net amount of allocations to each Venturer shall be the same as such Venturer's distributive share of profits and losses would have been had the events requiring the special allocations not taken place. The Venturers shall apply the provisions of this Section 4.3 in whatever order they reasonably believe will minimize any economic distortion that otherwise might result from the application of the special allocations. 4.4 Code &704(cl All atin*+c. Solely for federal, state, and Ioca1 income tax purposes and not with respect to determining any Veniurer's Capital Account, distributive shares of profits, losses, or othez items, or distributions, a Venturer's distributive share of income, gain, loss, or deduction with respect to any property (other than money) contributed to the Joint Venture, shall be determined in accordance with Code §704(c) and the Regulations thereunder or with the principles of such provisions. 4.5 ~rative Allcxatinnc RPg ing pgyments to VenfirP*c. To the extent that compensation pazd to a Venturer or its affiliate ultimately is not determined to be either a guaranteed payment under Code §707(c) or a payment to a partner other than in its capacity as a partner under Code §707(a), such Venturer shall be specially allocated gross income of the Joint Venture in an amount equal to the amount of such compensation, and such Venturer's Capital Account shall be adjusted to reflect the payment of such compensation. If the Joint Venture's gross income for a fiscal year is less than the amount of such compensation paid in such year, such Venturer shall be specially allocated gross income of the Joint Venture in the succeeding year or years until the total amount so allocated equals the total amount of such compensation. 4.6. Dis 'buttons of A e c. 4.6.1 Distributions of Available sh. (a) "Available Cash" shall mean all cash the Joint Venture may receive from its ordinary operations plus cash which the Joint Venture may have on hand except for cash required, in the reasonable discretion of the Venturers, for the discharge of all matured and unmatured (but payable within ffie next succeeding twelve (12) month period) obligations of the Joint Venture including obligations under Section 3.5 and anticipated costs of acquiring, owning, operating, leasing, improving, developing, constructing improvements on, refurbishing and managing the Joint Venture Property, including debt service, and including reserves for such expenses (including major capital expenditures) as determined by the Venturers, but shall not include Net Capital Proceeds as defined in Section 4.6.2. 6 Third Draft 7-20-95 SEV'C BY ~ 7-21-95 11 ~ S2~.k ~ L.1FE STE I \' CdS1PBt11 -- _ _. '. ~ ~ -2%3 (b) Available Cash shall be distributed as follows: i} $30,000 of Available Cash shall be distributed to APA Distinctive, Ltd., Applewood within ten (10) business days of the formation of the Company, from which $30,000 distribution, $7,8'79.95 representing attorneys' fees, $2,074.93 representing 1993 real estate taxes, $246.43 representing interest on 1993 real estate taxes, aII of which are payable under the Settlement Agreement attached as Exhibit D, shall be paid to 28 AR Pactncrs LLC because such amounts have been advanced by 28 AR Partners LLC and paid for the benefit of AP Distinctive, Ltd., Applewood. ii) $45,000 of Available Cash shall be distributed to APA Distinctive, Ltd., Applewood when and if the infrastructure of the project is completed consistent with the budget attached hereto as Exhibit 8. Such distribution of Available Cash shall be treated as a payment against the $700,000 loan to which the property contributed by APA Distinctive, Ltd., Applewood is subject (and which loan is payable to and held by APA Distinctive, Ltd., Applewood); then iii) $ 25,000 of Available Cash shall be distributed to APA Distinctive, Ltd., Applewood when that certain Promissory Note in the amount of $87,500.00 from APA Distinctive, Ltd., Applewood to the Joint Venture has been paid in full. iv) In the event the cost to complete infrastructure of the project exceeds the budget attached hereto as Exhibit B, then an amount equal to the amount of such excess over $250,000 shall be distn'buted from Available Cash to pay such costs and shall be treated as an additional capital contribution by APA Distinctive, Ltd., Applewood under paragraph 3.Z. If the amount of such excess over $250,000 is less than $50,000, the difference shall be distributed to APA Distractive, Ltd., Applewood and applied as a payment against any remaining balance of the $100,000 loan to which the property contributed by APA Distinctive, Ltd., Applewaod is subject. v) No further Available Cash shall be distnbufed until dissolution of the joint Venture whereupon all Available Cash sha11 be distributed as if it were Net Capital Proceeds. 4.6.2 Distribution of Net ant 1 Pmrnavtc, (a) "Net Capital Proceeds" shall mean all net proceeds received by the Joint Venture on the sale, exchange, financing, refinancing, or other disposition (collectively, the "Disposition") of Joint Venture property and interest earned on any T'l~ird Draft 7-20-95 SEVC 8Y= 7-21-95 :11~53a1i :L3FF STE[\ C3YlP8E1L mortgage note or other indebtedness held by the Joint Venriue arising from the sale, exchange or other disposition of joint Venture Property. (b) Net Capital Proceeds shall be distributed quarterly if funds are available (taking into account Section 4.6.5} as follows on a cumulative basis: i) To APA Distinctive, Ltd., Applewood until any additional capital contributions made by APA Distinctive, Ltd., Applewood under paragraph 3.2 are repaid; ii) To 28 AR Partners LLC on a cumulative basis until its entire capital contribution is repaid as follows: a) $15,000.00 for each lot within the property described in exhibit A which is sold for $80,000.00 or less; b) X20,000.OOforeachlotwithinthepmpettydescribed in Exhibit A which is sold for more than $80,000.00 up to $99,004.00; c) $Z5,000.Odforeachlotwithinthepropertydescribed in Exhibit A which is sold for over $99,000.40; iii) The next $500,000 of Net Capital Proceeds shall be distributed 65% to 28 AR Partners LLC and 3590 to APA Distinctive, Ltd., Applewood; iv) The next 5 300,000 of Net Capital Proceeds shall be distributed 50% to 28 AR Partners LLC and 50% to APA Distinctive, Ltd., Applewaod; and v) The next $40,000 of Net Capital Proceeds shall be distributed 100% to APA Distinctive, Lid., Applewood; vi) ASl further Net Capital Proceeds shall be distributed i0~ to 28 AR Partners LLC and 50% to APA Distinctive, Ltd., Applewood. 4.6.3 Limitation on Dista~hutions of Available Cash. Notwithstanding anything set forth above, no distnbution of assets may be [Wade to any Venturer if, afrer giving effect to the distribution, all liabilities of the joint Venture, other than liabilities to Venturers on account of their capital accounts, would exceed the fair value of the Joint Venture assets. 4.6.4 Form of Distribution. A Venturer has no right to demand and receive any distribution from the Joint Venture in any form other than cash. 8 :m 3/ 3 Third Draft 7-20.95 4.6.5 Reformation of Distributions. AlI of the foregoing formulas for distributions aze predicated upon the assumption that the Venture will be able to sell all of its property within fourteen (14) months of the commencement of the Venture. This assumption, in turn, has been relied upon by 28 AR Partners LLC in expecting to receive a minimum return of 45 % per annum on iu capital contributed to the Venture. In the event that the Venture does not sell all of its property within fourteen months of the commencement of the Venture, the foregoing formulas for distributions shall be revised and reformed so that 28 AR Partmers LLC receives a minimum return of 45% pez annum on its capital contributed to the Venture (to the ezient that the funds of the Venture are sufficient for such purpose). 5. Decisions of the Joint Venture. 5.1 The day-today decisions regarding the Joint Venture shall be made by 28 AR Partners LLC acting in good faith towazd the interest of all Joint Venturers. Such day-to day decisions sha11 specifically include but not be limited to all decisions relating to expenditures necessary to complete the infrastructure of the property as well as all decisions relating to sales of lots (subject to paragraph 8) which are a part of the property. 5.2 The major decisions regarding the Joint Venture shall require the affirmative vote of all Venturers. The "major decisions" regarding the Joint Venture shall mean decisions as to: i) acquisition of real property by the Joint Venture; ri) any act which would violate any agreement to which the Joint Venture is a party; iii) any agreement which is not fully arm's-length or which is with a joint Venturer or any person or entity controlled by, controlling, related to, affiliated with or associated with a Joint Venturer; iv) any .act which would have the effect of terminating the Joint Venture or making the carrying on of the Joint Venture business impractical or impossible; v) matters reasonably similar to the matters listed in ~) through (iv) above; and vi) any decisions to fight or anticipate governmental action. 6. l~leetines. Any Joint Venturer may call meetings of the Joint Venture whenever such Joint Venturer thinks it desirable. Such meetings shall be called by mailing a notice in that regazd in a prepaid letter addressed to each Joint Venturer at the address given below. Except in urgent cases, such notices shall be mailed in time to give each Joint Venturer at least 72 hours Third Draf3 7-20.95 notice of the meeting on the assumption that the notice will be delivered in the ordinary course of mail. Joint Venturers may waive notice of a meeting in writing. 7. Joint Venturers' Rights. No Joint Venturer shall pledge or otherwise encumber its Joint Venture interest. No Ioint Venturer shall apply to any court for a partition of the Joint Venture property. No Joint Venturer shall transfer its interest in the Joint Venture. For purposes hereof, a transfer shall be deemed to have occurred if the Joint Venturer in question is a trust, corporation or partnership in which 50% or more of the beneficial interest is transferred. 8. 28 AR Partners T.T.C' P„t Clntion. In the event that 28 AR Partners LLC determines to market lots owned by the Joint Venture for a price below that acceptable to APA Distinctive, Ltd., Applewood, then APA Distinctive, Ltd., Applewood may advise 28 AR Partners LLC in writing that such price is unacceptably low. Thereupon, 28 AR Partners LLC shall have the right to require APA Distinctive, Ltd., Applewood, to purchase 28 AR Partners LLC' entire Joint Venture interest for a price equal to what 28 AR Partners LLC' distributions of Net Sale Proceeds from the Joint Venture would be if alI Iots then owned by the Joint Venture were sold at the 28 AR Partners LLC determined price. In the event 28 AR Partners LLC exercises such right by written notice to APA Distinctive, Ltd., Applewaod, then APA Distinctive, Ltd., Applewood shall pay to 28 AR Partners LLC the sum of $2,000 times the number of lots then owned by the joint Venture as a deposit against the sale price and the balance of such sale price shall be paid in good funds within sixty (60) days of the date of such exercise. In the event the balance is not so paid, then 28 AR Partners LLC shall be entitled to keep all amounts then paid and APA Distinctive, Ltd., Applewood shall be deemed to have agreed to the sales price per lot originally determined by 28 AR Partners LLC and 28 AR Partners LLC Put Option shaII be deemed withdrawn. Notwithstanding the foregoing, 28 AR Partners LLC may not reduce lot prices so long as the schedule of lot sales and income set forth as Exhibit C-1 hereto is being met by the Joint Venture. 9. Dissolution or Retirement of a Joint Venturez. 9.1 No Joint Venturer shall have the right to retire or withdraw from the joint Venture while it owns any interest in it. 9.2 In the event any Joint Vehturer is dissolved, then the successors to such Joint Venturer shall be entitled to all distributions and payments to which the dissolved Joint Venturer was entitted but shall have no right to participate in the management or decision making of the Joint Venture. 10. 73ankruDtcy or Receivership. In the event any joint Venturer is declared a batilozrpt or is a debtor in any bankruptcy proceeding under the laws of the United States or any state thereof, then the said Joint Venturer shall be deemed to have died and its interest in the joint Venture shall be purchased by the Joint Venture for a price equal to the capital account of the banlo-upt Venturer. The foregoing provision shall not apply if a Joint Venturer files a IO Tfiird Draft 7-20-95 Chapter 11 Reorganisation so Iong as the Joint Ventueez is Debtor in Possession therein. 11. Reimbursement. Joint Venturers shall be entitled to reimbursement for all out-of-pocket expenses and cosu for matters related directly or indirectly to the business of the Joint Venture, but such reimbursement shall be first approved as a day-today decision of the Joint Venture, r-iccr~' Toa fJvny£t lgar SO_~~xa i.~ 3'cWal/~ ~j 5o~p t~tifttioti~ F'o-+Z7 /1.L°((,u1M.L- ~QpolTlJ.~+<i Gj,~T571.L}YYlO.t.I Si~z~ fls fY.~9~0ISy Zgtt,¢.PA.cTisgS LGC. 12. Dissolution. The Joint Venture shall be dissolved when all of the property of the Joint Venture has been transferred from the Joint Venture and full cash payment has been received therefor. The dissolution of the Joint Venture shall be in accordance with Colorado law. 13. Miscellaneous. 13.1 Parag~ph Headines. The various headings used in this agreement aze far convenience only and shall not be used in interpreting or limiting the text of the sections in which they appear. 13.2 Govemins Law. The Laws of the State of Colorado shall govern the validity, performance and enforcement of this agreement. 13.3 Severability. In the event any provision of this agreement is determined to be invalid or unenforceable, such determination shall not affect the enforceabiliry or validity of the other provisions hereof, and this agreement shall, as to those provisions, remain in full farce and effect. 13.4 Draftine. The Joint Venturers agree and acknowledge that this aa~reement has been negotiated between all of them and that any interpretation hereof shall not be construed for or against any Joint Venturer on that account. 13.5 Gender Singular and PIurai. When required by the context of this agreement, the singular shall include the plural, and the neuter gender shall include the feminine and masculine genders. 13.6 Attorney's Fees. In the event of any action or proceeding brought by any party hereto against the other parties under this agreement, the prevailing party shall be entitled to recover for the fees of his attorney in such action or proceeding, including costs of appeal, if any, in such amount as the court may adjudge reasonable as attorney's fees, but such fees shall be limited to the hourly rate of the less expensive attorney representing the parties in such action or proceeding. 13.7 Binding Effect. The agreements herein contained shall be binding upon the heirs, successors, executors, administrators and assigns of the parties hereto. 11 ~~ Third Dra@ 7-20-95 13.8 Waiver. The waiver by the Joint Venture or any joint Venturer of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition or any subsequent breach of the same or any other term, covenant or condition herein contained. The subsequent acceptance of any funds payable hereunder by the Joint Venturers to the Joint Venture shall not be deemed to be a waiver of any preceding default by any Joint Venturer of such payment. 13.9 Fiscal Year. The books of account of the Joint Venture shall be kept on a calendaz year basis and shall be closed and balanced at the end of each calendar year. 13.10 BQOks of Account. The Joint Venture shall maintain adequate accounting records. All books, records and accounts of the Joint Venture shall be open at all times to inspection by all Joint Venturers. Don O'Conner shall maintain the monthly financial hooks of the Joint Venture and Steven L. Lake & Associates shall prepaze Joint Venture tax returns and consult with the Joint Venture on all tax issues. 13.11 Tax Partner. Mr. Stephen F. E1ken, 1165 South Pennsylvania Street, Denver, CO 80210, shall be the initial Tax Matters Parhter of the Joint Venture for purposes of the Internal Revenue Service. 13.12 Accounting Basis. The books of account shall be kept on a cash basis. 13.13 Banking. All fonds of the Joint Venture shall be deposited in its name in such checking and/or savings accounts as shall be designated by the Joint Venturers. Checks and drafts shall be drawn on the joint Venture accounts for Joint Venture purposes only and only 28 AR Partners LLC shall have signature or withdrawal rights for such checks, drafts and accounts. 13.14 Reports. At least quarterly, the Joint Venture shall cause to be prepared and to be given to each of the Joint Venturer, a balance sheet and profit and loss statement of the Joint Venture business. 13.15 Devotion of'1'ime. No Joint Venturer shall be required to devote his entire time to the conduct of the business of the Joint Venture. ' IN WITNESS WHEREOF, the patties hereto have set their hands and seals the aay and /a year above first written. y(~J/\ ~ ~3 /6 ?N1S Tu,~`f V~Tun.E Ad~mt,.r ~s Coustd~~.~r OP°~ ~ ~7ClhPto.~+r~ A~ gX~stav uF ~ S~-s~fta~yt.,.~ ASsbFh.+~r..t' 8~~ itP~a n~sr'~u~U£ GTp~ Jd~/1.~11100 .Q~f~7 ~j ~aMf3 ~j7~' t~MfJ~,J /I.t/PA ~~j`I~tt~ ~rJU~ ~8, ~47~' ~.S.ooP.n. ~.iT, 12 Third Draft 7-20.95 .. ~~ SIGNATURES: 28 AR Partners LLC 1165 South Pennsylvania Street Denver, CO 80210 APA Distinctivey~td., Applewood, a Colorado fipiit~fl parmership A~y~~~ ~e ~O ~.Q9 Address 13 cAPrrAI. suBSCxrBED $100,000.00 which shall be in the form of good funds_ The property described in Exhibit A and all rights in connection therewith which is valued at a gross value of $1,350,000, subject to a first mortgage in the amount of $1,250,000 and a loan of $100,000, both of which shall be deducted for purposes of calculating capital accounts. ~a D~ ~-Za9s • ~ • r•.xraTrr'r ^r^ A parcel of land tote*.~!i S. t,. the South:sect one-quartetr, *tortiteast one-quarter- and Soutixea=t one-quarter. P'.crtixwest one-quarter e£ Secti^tx 2sI, T~wnshi~, .3 G~:rr!.1i, P.an<rP 6~? W~::t: of: t]xe 6tli F.M., City of wheat Ridge, County of refser:on, State of Colorado, mere fully described as follows: Cemmencina ~t the So;tthea=t pn~Pnl of the So;aheest on=-quarter, Northwest rn)~-quarter of ^aid Section 28. Thence N 00"19"09" W along the East line of said Southeast one-q;tarter, Northwest one- quarter, a distance of 21.00 feet to the "TRUE FOi1•IT OF BEGi*TNIZ•IG"; :hence T1 00°19"09" tt continuing along the said East line, a distance of 9.00 feet to a point, said point being the Southeast ccrner of the )•ast one-half of Trar_t 17, Brookside SnbdiviGir,n; Thence S ?9".19"56" W paral.le.L t:o the South line of said Southeast onA-quarter, 1orthwest one-q;rarter, a distance of 64.19 £eet to a point; Thence PI 00°20"16" w. a distance o£ 130.00 feet to a point; Thence S 89.°19"56" w, a distance of 100.00 feet to a point, said point beina~orx the West line of the said East: one-half o.f Tract 17; Thence D1 00°20'16" w a7~ng the West lire of :aid East one-half of Tract 17, a di stance. of 1143-55 feet to a point or. the Southerly, right-of-way iin_ of w. 35th Avenue. said po,i.nt zlso being the Northwest ccrner of Lot I, Ken-Mar Subdivision; 'Thence 2d 89°lfi"'19" E parallel to the North line of the Southeast. one-quzrt~r.,~.Nni•1:hwest one-aunt:tez- of said Sectior, 28 an~i alone; Llt^_ Scutheriy right-of-way line of said w. 35th Aven!re, z distance cf 15S.S7 feet to z point, said point being the i•,ortheast col-nor of. Tract ' A' and Piorthwest corner. of Lot 2, of said Ken-Mar Subdivision; T}xence 00°18'22" E ziong the west lire of said Lot 7_, a distant? ~f. 1J.5.0~ r:e?t t~ a point:, saki point- being ,:he Southwest corner of said Lot 2; Theme AI 8°"1619" ~ alcnc the South line of Lots ?.- and 3 of said Ken-I°Iar Subdivision, a distance of 204.95 feet to a point, said gnint being the 5outlxeast corner. of said Lot 3; Thence QO°18'22" F. .along the i•+~st line of Let 5 0£ said Ken-~~7ar. Subdivisiotx, a distance of. 125.00 fret to a pozn}, said point being th<: Southwest corner of said Lot 5; Thence D1 89°16'19" E along the South lire of said Lot 5 and the North line of Tract ~B' of said Ron-Mar Subdivision. a distance o£ 105.00 feet to a point on the `riesterly r.igL-t-of-way line of Nelson Str.~et; T'i7ence S 00 z']"27.'" E alor_g the westerly right-cf.-way tin= of said rIE'ltcon motif°r'.i:. a distance of 50.00 feet tc a point, said point h~inq tho Td~rtheast corner ^f. Lot 6 of said F;en-Mar Srti,d.ivision; Thence S 89°16"19" W along the South lire of said Trac: 'B' and ;`]orth line of said Lot G, a distance of 107. GO feet tc a point, Sa.d p0xnt- b°e1nR th° ?•?_^"''.hSv°it ccrner of sold Lot 5; Tlxencs 5 00°18"J-?" r. al.png tn~ t•ir?t Iin_ of said i~ot 6, a rlist~nce of 125.00 feet to a pei.ttt, said clot being .. a P it_ So;t~hwes- c::?-ner of said Lnt o and also b~inc on tlxe 2.leart}x line of hat 7 cf said Slll:dl:'151nn. T}loll r'P ~ 89°l, G;']q.. [.] glnjxr ti7°. 1`In7•t}~ line Ot Fsd1Ci LUt 7, a !il stance Qf $~i, Q':~ fact t:: ? .U1i~t r i SA 7. .1 PUillt be7. nCJ I~]]n * i NorthwAst corner of said Lot 7; Ther..e S 00°18"22" °_ alor_g the West 1in~ of Lots 7, R o, an~i iQ of said I;~n-M11ar Subdivision, a distanc_ of 420.00 £eet to a point, said point being the Southwest corner of said f..ot ]0 and Northwest corner of Lot 11 of said Ken-Mar Subdi.visinr.; Thence DI as°]Ci"19" E T ong the Soukh line of said Lot 7.0 and Alo_-th line of said Lot 11, a distance of 140.00 feat to a point. en the Westerly right-of-way line of said Nelson Str=et; Thence S 00°18'22" E, a distance of 105.00"feet to a point; Thence bi 8?°]5"56" ;~, a distance .of 8.50 feet to a point, said point being on the Westerly right-of-way line of said Nelson Street; Thence 5 00°18"i.2" r. al.onp the said Westerly right•-of-way line,•a distance of 333.05 £eet to a point said point being on the Plort-hn~-Iy right-<>-w:~y 3in~ of: W. 32nd Avenue and 'also being 27..00 font Plorth of tl~~e South line of Southwest one-quarter., Dlortheast one-quarter of said'Section 28; Thence S 8°O1°"56" W along the said Dlortherly right-of-way line, a distance of 313.15 feet *_o the "TRUE 7?OIDIT OF. BEGINDIIPIG." Containing.acres 10.70~(~G5,270 Gov are feet) more or less. r 2 tnfraatrnat~re 8tdoe ~1 `~- Budget oeaeral Requirements ~- Dsveloppeat plan 8agineerinq 8,450 8011 ?est 2.500 Building Perraft 800 Insurance 1,000 r~ utilities 800 ?otsl - oeaerai Requires fi70 14,220 Site Work site Clearing site t3radinq 1,200 fi:uliaq 6,500 Sulk Caaarete 650 Debris Removal 850 Coactste !`1 at s+ork 500 Erosion Coatroi 1,500 Total - Site Kork 1,200 12,400 Iwproveaewts Road Cradinq R.aphaI t 2,417 curb s Gutter 57,OOa Drainage lass 25,000 Yalis i leaning 600 2aamoa Labar 14,875 xat~r Lihi(sew~rj 4,130 3as i Electrfc 75,006 ?atai - Eaproveauats 29,000 2a~,o22 ~~ jQ~~ ~~~Y ~ /oGZU4L (fy~ ~7Y/ ~~J 9yo~cr ~~~~ tau LTD ,6PFC~.aoUO /t„o y ..Sf uP yb "2roo ~ ~,y y~ 961G(~,,l9~ ~f f~,oa~.,~,wT,d~ii,ofl7/c.~ AF.a ,D1~.vCIJ,t~ L?9~,oPPl~ty+(fo ~io~x- P,o~ ,tio GASac ~/,s/ ~ ~ti /r, ~99,r. ,octfrr,•rr.~: P.a~LTutritr ~~ -:~--- _~ .~ ~_ iiaaellaaeoua 3eatala 3arricadea 300 `rees/8hruba 400 ~'~00 :oveaaatsJ;+ssoai:tiona ~therf U/f.TjYa,L 1, 500. Total I[isae~ eow 9ys$ totals xas-_5x2=2_xLasp~pgpaaC^.~Zxx.1 ~CCmC== ==_=_x_~=Qz 250,000 No. 30C b9E 1103 ~ 20.95 13~i1 P.C2 ° ' JGINT VENTI5R1` AGREET,I~'T t}F APPLEWCOD RESERVE EXH181T C Lot sates -Pro Forma In the event the revenues proJeded below are not reoelved in any month, or cumulative, Ettcco do Partners strati have the right t0 lowerlhe lot sales price t0 a level acc~ptabie to EAcco ~ Partners. Lot Sales Minimum Cumulative SaJea Price Lot Sales October 1995 3 300,000 300,000 November 2 200,000 500,000 Decornbar 2 200,000 700,000 January 1996 2 200,000 900,000 February 2 200,000 4,100,000 Mars~r 2 200,000 1,300,000 April 2 200,000 1,500,000 Nfay 2 200,000 1,700,000 Juno 2 200,000 1,900,000 Juty 2 200,000 2.100,000 August 1 400,000 z,2oo,000 September 2 200,000 2,400,000 t?dot~r 4 100,000 2,500,000 Novemt~r 2 200,000 2,700,000 December 4 10o,ooa z,eoo,00a Total 2B ~sL ~- / ~_ , _ No . 303698 1103 Jul 20.95 10 35 F.C2 . i as . v ,u -3 .ems=~+ _ __ _. s,.K. ~~ _ Zo _ ~ -_ _ l 4~ r 3w•. W t li~; ij~t 7r~ ~ !f i t~i 3~~' `r is # ~`-~ ;f* ,(t! Iit °ttl if= ~3i# .:~` !. !; i;. ~;~~ iif: jat ti :t! ) :,: i ;.,, . ~+ ~: '~' r ~;__ cif ~ ~ • ~ R--Y.~ (1 ~~ ~• ~ -_ :; ~ . i. _~:~ ` `. ~'~ 1.., ' ~ _ _ --ATM ~C ~, ' ~= t~ r 1, ,1 ; i =y :.: x 11 i 11 ° 0 i i ~ _..-~ ~ -. r It = si. !~ 'q~ it ' r. i ` t r f ~ s •F `- t: '~ ~ • - - m ~~ ..e; _ ti e~7 = 1 i ;; Y e D r; ~l _~t. " _ It r ~ -.~ i ~ si :, - .rte .i.i .~.3 ~'~ ~ 1'' ~~''jj' } {• tl t~ it'll 1i 4. + w . .....r.• si ~t y ~ t. ., i ~ 3 , ~i:it~ :'tfi ,~ ~~t~.; ~ :t~r•i : ~. v ~' -. F j:lt'j{'{ j ~ r'~tl ~ ~ ~'tF ~'t is ti i s~ ~ S j{~~~~ ` ~ e ! ~ 1 s' . • , -.; er. 7500 WEST 29TH AVENUE P.O. BOX 638 Th~fy of WHEAT RIDGE, CO 80034.0638 (303) 234-5900 cWheat City Admin. Fax # 234-5924 Police Dept. Fax ~ 235-2949 Ridge October 20, 1995 Mr- Steve_Elken Elkco Properties, Inc. 1165 S Pennsylvania, Suite 103 Denver CO 80210 -_. Dear Steve: Please let this letter serve as a follow-up to our discussion of October 11, 1995 regarding a proposed replat of the Distinctive Addresses at Applewood Subdivision. The replatting process will_require public hearings in front of both Planning Commission and City Council. Although Staff prefers the existing design, we indicated the revised subdivision may be approved if all requirements of service agencies can be met and if the neighborhood supports the new design. Even so, we cannot guarantee approval of the application- The aproval process will take roughly four months to complete. Apre-application meeting with the neighborhood is not .required, however, it is highly recommended. Keep in mind that if the southern half of the property is replatted, it will affect the utility layout, drainage plan and street construction plans for the entire site. If approved, all of these components will need to be redesigned. As such, the City will not allow any construction phasing prior to approval of the replat by City Council and corresponding necessary redesign. In your correspondence dated October 12, you asked what the required front setback from private roads are as opposed to-the setback from public streets. The R-1 zone district regulations do not recognize any differences between public or private street systems. In accordance with these regulations, the front setback is 30 feet. Any deviation from the R-1 regulations will require variances._ I strongly encourage you not to pursue any variances as it could be a basis for denial of the redesigned subdivision. If you have any questions, do not hesitate to contact me at 235-2848 Sincerely, ,-~ ,i. ~ ~I Meredith Reckert Planner cc: .><~_ oen ges - ~~'aJJ"~ ~~~~~ ~ (~~ ol/'~'Vl Herb Brown Steve N., Greg K., John O- .:~ r,~.,,i<,u•.,~~~" Date: 11-1-95 Contacted Stephen Elken, Elkco Real Estate Development, re: his fax to me concerning Distinctive Addresses at Applewood (to be renamed Applewood Reserve), as a result of our meeting concerning the replat of the project. The fax received covers the issued raised by myself during our meeting. I advised Steve that I had reviewed his proposal and the while the issues addressed were acceptable to me, I am not in a position to approve their request, only that I could accept and live with what they are proposing. I stated that if there was no changes that affected our services or operation, I would not oppose their plans. I stated my concern with the word "can" in Item #3, and Steve stated they would change that to the word "will", making those items listed a requirement. He had asked for a meeting in the fax and I advised him that I did not feel a meeting was necessary, which he agreed. He and his firm plan on proceeding with this proposal through the necessary steps to have their plan reapproved. DMR .~ ~ELKCO REAL October 2b, 1995 Dave Roberts, Fire Marshall Wheat Ridge Fire District 3880 Upham Wheat Ridge, CD 80033 Bear Dave; bistinctivc Addresses ut Applewood (to >,r: renamed Applewoad Reserve} I'd like to thank you for taking the tune to meet with Tom Quinn (R&R Engineering) and me to discuss our desire to slightly modify the existing plat. As we mentioned, we gained control of this property on Angnst I, ]995, and pulled this development out of bankruptcy from the previous owners. This development has stalled for alrrwst two years due to a few reasons, with the tnajar reason being the negative Impact as you enter ofl'Nelson. The huiIders who wish to purchase lots from us, the marketing company we have retained, as well as the potential home buyers (marry who five and work in 'S~Vlteat Ridge) all concur that direct access from 32nd Avenue is necessary. ~11ith this new plan, we will be losing one !ot and spending additional money and time on rc-platting and ri~v d"'1"~g~ and road desi~ efc., so our request should not be viewed as a cost savings but rather to re'rvork a plan that has not been successful and not accepted by Future home buyers. With this in mind and a spirit of cooperation, we have attached another revised plan for your review. This rew plan addresses the issues which we discussed last week. As you review the plsn, you will note we have worked diligently to incorporate and correct issues you pointed out in our last meeting; 1. Increase the radius at the inteasection of pak and the private road; allow easier turning for your equipment; a 25'riglrt ofway and a ZO' hard surface private road; with a minimum 4' right Of way in which trees, shrubs or fencing cannot be installed; 2. Installation of a "bulb" meeting the radius requirements, rather than a hammerhead; 3. Additional improvements which can be incorporated into the revised plat and the homeowners as~ociatien's covenants are' a. No par}ang signs will be posted on both sides ofthe private road; b. Lots 1, 2, 3, and 4 will require the homes constructed on them be sprinklered; e. Lots t and 4 will be required to have either a circulsr or horseshoe drive to accommodate additional visitors because no street parking will be allowed; 116b S. Pennsylvania St. • Denver, CO 80210-153D 3D3 773-035t) FAX 303 qq.1-1174 i ,~ ,. ._ ~[d ~fl:T. rx~ GF. !2-tnn T~aYe Roberts October 26, 1995 Page 2 ~~ d. Lots 2 and 3 r;Yill ba regnired to install a circular drive or parking offset along the eastern frontage to handle additional parking, since no parking will be allowed on the private road. e. Lots 7 and 8 will be required to have access oti aak Street so they will not build garages ofFthe private road, so it will discourage any Barking in a no-parking area. I be]ieve these mali5cations address the issues we discussed in a manner which deals prudently with the size ofthe parcel and the needs ofyour equipment and the developer's wnsiraints. I will coniact you in a few days to set up a briefrneeting to discuss this letter and the attached layout. Thank you for your time, comments and cooperation. Very truly yours, ephen F. Elken '~ ,I cc: Tom Quinn {F'ax 15) Fatrick~oentges (Fax 698-1103} .d iRd i0:Z I'd3 S6-GZ-l'J6 c OCT 27 '35 1©:27 RBR~N;INF~-SlAR4'£YGFS i'! ~ ~f 1 ! 1 I (,~ 227.6 t ! J• {[`} ! If I t _ _ _____ _ _ + ~ 98 ~ja6 ~ j irrswxal 10 . 46 ~n,la 2rJ ~ t 1 1EaL8iRR. t I'E~ ~ R__ i L__.___._J L,,-., 'lC fM'1116• iLgC ~ ~ fl - i 1 _ I t J 3 +27. wit ; ~~,yi Ot . 00 I ~~ ~ t ~ t i ~ B I 4E' 0 ~ i k_~ w.rr_j ~ 12554 SQ.FT, i Isere m.rnr. ~ I t 1.44 6 ~f~ ~ 27.0 I' ~ f C*i WIl al_RJ L-,,..._,.,J 4 ~ 1 l 1 ~~ ~t - ~~___ 1 ~+ 1 ti ~ t-+ 1 ~ It .52 ' i r~ I2 D zJ1 S I 1 1 x. I p +~ 3~N~ AVE ~_ ~ a '---°--- ~, ~`-------- ~ -i a ~ ~ A i.ifl' -CIRCULAR OC HLIRSESH(!E DRIVE 8 LOT - i1ILL HAYS RECESSF.7J AARKIIJC A 5' YIllE 5772I? ~' LAHD 71EA 5'Pf!31 riE EDGE 'ES DRLYE SURFACE VILL 8E i7iFE pr TREES. si32U9$. AIU} OTHER S7RtJCT11RES, I'. 1 ~ .d ~a so:~ :aa ~s-t~-i~o ~~ ~ i July 1, 1992 Ms. Meredith Reckert City of Wheat Ridge Department of Planning and Development 7500 West 29th Avenue P.O. Box 638 Wheat Ridge, CO 800334-0638 RE: Subdivision PZat Review for 10701 West 32nd Avenue Wheat Ridge Case No. WS-92-1/Brown Dear Meredith: This will acknowledge receipt of your correspondence dated June 26, 1992. The fire district has reviewed the plat plan for the above-captioned project and feel we can adequately provide emergency services and the necessary fire hydrant requirements. To that end we have contacted Consolidated Mutual Water Company and have expressed our concerns with respect to their plans for placement and number of fire hydrants. The water company has assured us that the water service mains and the fire hydrants w_iII be installed simultaneously. Besed upon tFiese circumstances, the fire district has no objection to the planned development. Please feel free to contact me if you have a question. Sincerely, Daniel E. Ladd District Manager cc: Fire Marshal • I m .. AECI I o m j. a aooi ~ \~,. ~~ ~ 0 " ' ~ FOR- Qllim I s ~I ^ ^ ~ ^ ^ AMT. OF ACC UNT I CASH I AMT. PAID _ CHECK w BALANCE I MONEY I DU ORDER ~,. 1 " - ~t- ,, ' APPLEWOOD RESERVE LLC a-ss ._ 1031 Y168 SPEPENSY VANIA, N0 7703 ~""` DENVER, CO 80270 ~~ ~'~' - - PAY »~ _- 19~ za ss/7szo ' TO THE ` ~ _ "~. ~ . ORDER OF "~ ;.~ - /~~ ..; .. ( '~ GUARANTY $ANK ,m, n,NS>REE> -' ~ A~RS V AND TRUST COMPANY Ro. eox sear -_ ' DENVEfl. L0 y631f _ ~ ~ - 806.'y6-0860 ~, _ MEN9ER FpIC ~--, ~~~-, FOR /~ -.,, "' - - :. 7500-WEST 29TH AVENUE P.O. BOX 63s The City of WHEAT RIDGE. CO 80034-0638 - (303) 234-5900 ~heSt City Admin. Fax#234-5924 - Police Dept. Fax#235.2949 •'~• 1dgPi The Wheat Ridge Department of Community Development has received a request for approval of a resubdivision of R-1 zoned land December 8, 1995 ---° - at ,the property described below. Your response to the following questions and any comments on this proposal would be appreciated by December 25 1995 No response from you by this date will constitute no objections or concerns regarding this proposal. CASE NO: WS-95-2/Distinctive Addresses at Applewood LOCATION: 10701 West 32nd Avenue REQUESTED ACTION: Approval of a 27-lot resubdivision PURPOSE: Change subdivision street system, and southern entrance from Nelson Street to West 32nd Avenue APPROXIMATE AREA: 10.7 acres 1. Are public facilities or services provided by your agency adequate to serve this development? YES NO If "NO", please explain below. 2. Are service lines available to the development? YES NO _ I£ "NO", please explain below. 3. Do you have adequate capacities to service the development? YES NO I£ "NO", please explain below. 4. Can and will your agency service this proposed development subject to' your rules and regulations? YES NO If "NO", please explain below. 5. Are there any concerns or problems your agency has identified which would or should affect approval of this request? Please reply to: Department of Planning & Development DISTRIBUTION: XX Water District (Consolidated Mutual XX Sanitation District (Westridg~ XX Fire District (Wheat Ridge XX Adjacent City (Lakewood) Public Service Co. XX US West Communications State Land Use Commission State Geological Survey Colorado Dept. of Transportation Colorado-Div. of Wildlife XX TCI of Colorado Jefferson Co. Health Dept. Jefferson Co. Schools XXJefferson Co. Commissioners XXDenver Water Board 'A R Post Office XXW R Police Dept. XXW R Public Works Dept. W R Parks & Recreation Com. W R Forestry Div. W R Building Div. <pc>referralform i"j R~~.v L~d Pupa CONTACT NUMBER 1 DATE: 11 DEC.,1995 SUBDIVI32oN NAME: DISTINCTIVE ADDRESSES Am p rEWOOD FITrNG 2 ENGINEER: NAME: R & R N,rNE R nrD SURVEYORS INC PHONE: (3031 792=28gy FAg; (3 D3) 790-0754 CITY REPT+FSENTA',~'IVE • CHUCK BRADEN REMARKS: °--- - ... "SAID" MISSPELLED IN LINE 2D OF TEGAr cI}n~.T iTT nnmT nw.n +~+ ....,, ~.~..... SHAW SOUTH SIDE OF 32ND ROW AND O'HAYR_E, ST ENGINEE'.R ~PRE$ENTA'1'~S1E • RAYMOND G • FINCH REMARKS: How contact made: person phone letter £ax REPRESENTATIVE: City: Engineer: Callback _1 _Date: Remark: Callback_ 2 _Date: Remark: Callback 3 Date: Remark: 1= %Improved:86 Subd' ` ~ j SS U~ G Ow er APA DI LTD ' ~, ~ 7? ZZ~Phone Mai ing:6 S BROADWAY #CC; DENVER CO 802 9-4066 0003_-_ County: Jefferson CO Property Tax :$723.24 Assd Imp :$6,710 Census:105.03 Total Val:$7,770 RTSQ :69W03S28NE Exemption- _----"A'ssd Year:1993 - :--..--~-" MapLoc:19-B* ~~~~.r-rer~~ -ba~~~y~_---=- ~„~ °',"~ lX ~ c2~ ~~ Gip t3r~-~~~~ ~o~-J ~ t~J/~d~:rr'S ------1995 TRW REDI Property Data ~~""~ ~ 1)Situs:~-0-701 W 32 AVE WHEAT RIDGE CO 80033-5443 Use:SFR ~u~s>~.z APN :39-281-00-019 Tax Rate Area:3141 Assd ~lr~~~~ Land:$1,060 Last Sale Transfer Date:09/15/93 Bldg/Lvarea:1874 Document # :143828 :1993/1938 Document Type: Price :$1,300,OOOF First TD :$250,OOOC Rooms: :2 :1 Half: Lender Baths:l Seller :l Title Company: :$693 County Use:1112 FRAME Prior Sale ~ ~yro~,e~ Yrblt/Eff ~, # Stories J i ~_. Basement ~ # Units Total Bedrooms Full Baths ___ _ _~ ~ /'~~.,Qi ~ ~~. Total b (J`~ ~ ~, ~ ,,~-~ Fireplace ~ ~~~7 Pool L~ 'f'j" ~ $Sgft Lot Size :A5.860 Construct ' Lot Area :255,261 Foundation i~ ;Q~~ '~ Heat :FORCED AIR Air-Cond Site Inf Zoning Park Type :DETACHED Park Spaces:256 Roof Cover Comments :PARKING-256;-000000- NE-OOI;SCHD#049200;LA 3600;IA 52200;TOP0-LEVEL Legal :TR69-03-28/ ACREAGE ------------------- » Reported data believed to be reliable but accuracy is not guaranteed « TO: FROM: DATE: ~ ~ox~vDUM Approved Date Meredith Reckert, Planner II Greg Knudson, Development Review Engineer] December 12, 1995 SIIBJ: Distinctive Addresses at Applewood, 10701 West 32nd Avenue WS-95-2 - Approval of 27-lot Resubdivision The_Public Works Department has reviewed the Planning Department referral dated December_8, 1995 for the-above referenced project, and has the following comments: --f '°`" °" 1. The existing, approved final drainage study will need to be revised accordingly and submitted-for review. 2. The existing, approved construction plans will need to be revised accordingly and submitted for review. 3. The existing, approved erosion control plan will need to be revised accordingly and submitted for review. 4. The replat document. that, has been submitted will be reviewed by Chuck Braden. Review of this document will not commence until such time as: (1) Acceptable proof of ownership is submitted to the City by Patrick Koentges and/or Steve Elkin when the original plat was signed on September 22, 1993. Please be aware that the_current owner's.. signature on the existing plat may need to be amended based upon this information. (2) Acceptable proof of curreflt ownership is submitted to the City by Patrick Koentges and/or Steve Elkin. 5. The Public Works Department has concerns with the proposed street connection to W. 32nd Avenue. The attached memo dated July 31, 1992 provides additional details regarding these concerns. This memo was generated in response the developer's first request to connect to W. 32nd Avenue and the concerns noted by the Public Works Department have not changed as of this date. cc: Glen Gidley, Planning & Development Director John Oss, Sr. Project Engineer Steve Nguyen, Traffic Engineer John McGuire, City Surveyor ' Chuck Braden, ROW Technician File ... P.O. BOX 638 TELEPHONE: 3031237.6944 The City of 7500 WEST 29TH AVENUE • WHEAT RIDGE, COLORADO 80033 cwheat Ridge M E M O R A N D II M TO: Meredith Reckert, Planner II FROM: Karl Buchholz, Traffic Engineer DATE: July 31, 1992 SIIBJECT: Street alignment for Applewood Castles Subdivision (Herb Brown Property) The street system for the above subdivision has been proposed to provide access at two new intersections on Nelson Street between 32nd and 35th Avenues. The Engineering Division has learned that the residents on Nelson Street have some concerns about increased traffic on Nelson Street caused by the proposed accesses. Addi- tionally, we understand the ,Planning Commission has asked the developer to eliminate the southern intersection on Nelson Street (W. 32nd Place) and create a new access on W. 32nd Avenue at O'Hayre Court or.0ak Street. The Engineering Division has some concerns with creating an additional access onto 32nd Avenue and we feel that allowing the access to Nelson Street would be in the best interest of the traveling public. West 32nd Avenue is a Collector class street which carries approximately 8000 vehicles per day. Many studies have shown that a street's accident rate is directly proportional to the number of access points on that street. For proper con- trol of access on 32nd Avenue, new subdivisions or other develop- ments should utilize existing access points where feasible. It should be noted that the volume of traffic on Nelson Street would not increase significantly if access is restricted to Nelson. The Trlp Generation Manual states that a Single family home generates approximately to trip ends per day. This trans- lates into 280 additional trips per day for the new subdivision. Approximately 10 percent of these trips will occur in the peak traffic hour. This means that during the busiest time of the day the traffic on Nelson Street will only increase by about one vehicle every two minutes. This increase is not considered substantial and still falls well within the Comprehensive Plan's traffic criteria of 2000 trips per day for local streets. Another point of concern, that has been brought to our attention is the Nelson Street approach width at 32nd Avenue. The existing street width at this intersection is 24 feet without sidewalk. The City's standard for local streets calls for a 30 foot section with sidewalk, curb and gutter. We feel that the narrow street approach does not present a significant safety or traffic flow problem considering the low volume of traffic ,and minimal amount of trucks. However, the City may be able to bring the approach up to standards as part of a local streets project if approved by the Public Works Advisory Committee. `The Carnation City" DENVER VVATE~ 1600 West 12th Avenue •Demer, Cobndo 80254 Phone (303)628.6000•Telewpier No. (303)628.6199 December 12, 1995 M. Reckert Planning and Development Department City of Wheat Ridge 7500 West 29th Avenue, P. O. Box 638 Wheat Ridge, CO 800340638 Re: Case No. W5-95-2/Distinctive Addresses at Applewood Dear Mr. Reckert: The above referenced development is located within the contract service area of the Consolidated Mutual Water Company, Denver Water Master Meter Distributor No. 31. This development is eligible to receive water service subject to the Operating Rules, Regulations and Charges of both Denver Water and the Consolidated Mutual Water Company. The individual to contact at Consolidated Mutual regarding water service is the Company's President, Walter Welton at 238-0451. Questions regarding Denver Water's requirements for water service should be directed to Rex Johnson at 628-6113. Sincerely, - ~L~~ James F. Culligan Distributor Services Supervisor JFC/rma cc: Walter Welton, President, the Consolidated Mutual Water Company N:\WPVFC\MI2ECKHRT.DOC -~ . _ , ._ - ,. ..~ - Ms. Meredith Reckert Department of Planning City of wheat Ridge 7500 West 29th Avenue Wheat Ridge, Colorado and Development 80215 ~1TY f3F tNHEAT RIDGE ~~' O`' PlAfthttlVG & QEt~lQP~dEkVT RE: City of Wheat Ridge Case Number WS-95-2, 10701 West 32nd Avenue, proposed approval. of a 27-Lot. Resubdivision (Distinctive Addresses At Applewood X'iling No.2j Dear Ms. Reckert: This will acknowledge receipt of your correspondence dated December 8, 1995 regarding the above referenced project. Please be advised that the above referenced property is in an area served by The Consolidated Mutual Water Company by virtue of a Distributor's Contract with the Denver- Water Board. Our .records~.'indicate that.. the.._property_.addressed as__107Q1 West 32nd Avenue, is currently receiving domestic..water from the Company through a 5,/8-inch meter (CMWCo Tap Number 328/ Account Number B-8673). Domestic water service-may continue to be provided to this property subject to compliance with the Company's rules, regulations and requirements for such service as well as-the water tap allocation policies as established by the Denver Water Board. The Company requires that a new application for water service be completed by the owner and returned to the Company at the tune there is a change in use.- The Company considers a remodel or building addition as a "change of use". The Company's rules, regulations and requirements further require that each separate structure be served by a, separate tap and meter,. and in order to receive 'domestic.-water service, the property must also front a Company main. If the future planned use' of this property is within any of -the above categories, the owner, engineer or..architect should contact this office as soon as ,possible•._so,.that .we .may determine what- water."system improvements v.~ilT.be.. needed Ito serve this property: ` THE CONSOLIDATED"MUTUAL WATER COMPANY ' ' ' 12'001k'est 27th Avenue- • Y.O. Box i500GS Lakewacxl, Colorado 50215 ' ~ _ Telephone 338-P#51 Fax 237-5560 - December 15, 1995 '" h Meredith Reckert City of Wheat Ridge December 15, 1995 Page 2 Fire protection requirements should be obtained from the Wheat Ridge Fire Protection District and those requirements forwarded to this office by the Fire District at the earliest possible time. We can then determine if additional system improvements would be required to meet the demands set forth by the Fire District. If you should have any questions or comments regarding this correspondence, please contact this office. Sincerely(, ~~ l .. Michael Queen Water Distribution Manager /71 cc: APA Distinctive, Applewood (Applicant} Dave Roberts, Wheat Ridge Fire Protection District Walter Welton, PLS/PE, CMWCo President John Allen, CMWCo Engineer C~ December 22, 1995 M. Reckert Department of Planning and Development 7500 W. 29th Avenue Wheat Ridge, CO 80034-0638 RE: OR-95-035, 10701 W. 32nd Avenue Dear Ms. Reckert: City of Lakewood Community Planning and Development 445 South Allison Parkway Lakewood, CO 80226-3105 Phone - (303) 987-7900/VOICE (303) 987-7580/TDD Fax - (303) 987-7979 -CITY OF WHEAT RIDGE ~nr~nn nth ' ,P.LANNING & DEVELOPMENT We have completed a review of the proposed resubdivision of 10 lots on 4.05 acres of land. The staff has the following concerns with this proposal: 1. The internal cul-de-sac creates three lots which are adjacent to three streets and five lots which are adjacent to two streets. 2. There is a significant waste of land area created by the cul-de-sac bulb which could be incorporated as landscaped yards. 3. Nelson Street is a local street with houses that front onto it. This proposed subdivision will result in rear yard fences being placed across the street from existing homes. This does not enhance the viability of the surrounding neighborhood. It also appears that Oak Street will be subject to rear yard fences, which will result in the same concerns as we have with Nelson Street. if you have any questions please do not hesitate to give me a call at 987-7513. Sincerely, ~-~ - dit~eri~AlCP ~_ Planner II cc: case file OR-95-035 Gary ICranse R:lDAI9510R95IXi5.1RIC Alternative formats of this document aze available upon request r The City of ~7Vhe at ADMINISTRATIVE PROCESS APPLICATION ~Rido~e Department of Planning-and Developmerit 6 7500 West 29th Ave.,-Wheat Ridge, C0 80D33 Phone (303) 237-6944... Applicant_~pr4~,/~y~i[G~,/ Address //L,S'S~~i.~yGUAr/A~ld.9Phone 7J~ A38o vr?~~p $Qaso Oomer ~-~P~pOJ7 ~~~/,~ Address //f~ s p~,,,,V~~y~ y/ Phone +-~r~1~J7J~E 2v/c2G~ Location of request - F~~p/ue,321~U~ ,qgr-~,g,,/y~,~~~af~, Type of action requested (check one or more of the actions listed below which pertain to your request:) ~ - Change of zone ar zone conditions 8 Variance/Waiver Site development plan approval Nonconforming use change -- Special use permit Flood plain special exception Conditional use permit Interpretation of code Temporary use/building permit Zone line modification Manor subdivision Public Improvement Exception ubdivision -° Street vacation P eliminaTy Miscellaneous plat final (P.a~-~7~-/J~p[of> Solid waste landfill/ - ** See attached procedural guide mineral extraction permit for specific requirements.. ^ Other Detailed Description of request ~_- y,~w of /J-PPL/csl~-I,oM ~1L ~~'~"__ O~ -_DIST//~Tl!/~ .~An~6' S 5 ....sYT <!-PP~T~IJOOp s.: ., .. List all persons-and companies-who hold an interest in the described real property, as owner, mortgagee; lessee, optionee, etc. NAME ADDRESS PHONE a~~,~-~~.~ ~°o iL.r~~~ ~.~-r~.~ rr~rs Pr~w~,.~ir~e~3 ~~~ o3Bd /!ta^.~+aa~or ~ //~1~.R /3DnluN /OJD(-!r ~9w~,~p//~ ~ -- - --- -°-. ..:` - --- __.. -_ ,. _. r -- I certify that the information and exhibits herewith submitted are true and correct ~o-the best of my knowledge and that in filing-this application, I am acting with the knowledge and consent of-those persons listed above, -- without whose consent the requested action cannot lawfully be accomplished. Applicants other than owners must submit power-of-attorney from-the owner which approved of this action on is beh f. Signature of Applicant - - Subscribed and sworn, t~o e this ~~ day o£ p~~ lg ~ \ 'E~`14~0~ L ~ `NYC otary Publi e SEAL - -- - _ My commission expires ~ -a~ Q~ uaze xeceived _ Receipt No.___ Case No. 5o G 50 .op SCALE 1" = 50' j ~ ~ I KE4-NaR SUBD; V:SIpN ~ N1]E~ !RM iXE 541T1 S1K'~ LOL Y9 NWL. L/.T0.1i) LN( STREET i 5(AIiHE0.r. NID VEST 32ND PLKL fRUN pN( STREET. EA51 V4L BE VPL(,iED. SEE NEY ALI(J.WEN} W T11S SHEET, .~ N89'16'23'E 190.00' N89°I6 23'E 140,00' • ~ q ~ i1 12'1'3' \JN00'Iff22'W ~ ® ± ' I 400' ~ I' m ~ , 'I 8 ,:.a> g ~ ~ I ~ i t a, to sl ~r N .61 r, j,l. {3 8 I µ' I : l 3 C 1 m ' e ~ l6-Ui IM1 ' N89'I6'23'E 739,04' i. >. ' i 6 WC `J -~- c - MAINRGE LASEKh: ' - - - ~ [" p.;.•y- ' ~ ~ 1V UTILITY 6 I IMAGE EASEMENT ~ 6 ,,~~jj ~ _ ~ f J Y.~~ ~NSAD4 i'dF I ARPC:J• ~ app?6 !C ~ ~ . YI 1 IY.22 ' N 91 3'E 0 4' 0 ' _ i ~~ 2 F , 9 .3 _._- B 62 A4 M~ .._ n - _ .C... . m _ ~ C L-. V_i ~'^' 1 _ ~~ 0 j 139115!. 4 13 AL RG'V WBLIG G i N ry o . 1 ~ ~i ~ I I _"" _ O yp C ° i'1 m N T I ~ ~ • • ~ SZlOY SP ~~ .D.IP. AC Z :935 E I3B.9P Q CR ~ ' ' ___NR9•IG 2J'a y I ~ ` ~ 2619 ' ' b o n - I ~ - u & N-9.16'2J'E I @ 10 'Ji ILIIY b I ORnINnGI EASEM[Ni~ E'"~ ~ ~ 2 ~ s 133.06 i . ~ ~ C ~a >; ~ I ~ ! I ,3 ~ ~ ,239G Sf. / 2 / o.ze Ac 6 s i ' ~ SA:~ / S89'19'S5'W 100.00' ~ ~ ',~ ~ Q II ~ ~ ._ ' ' ' _ ,,OO~~Sg ~p 9" ' E r )v y" N-9 I6 23 i ' 0 ~ IW.93 , j ~~ ~ ~~p~~p LEGEND ti ~ ~ ~ ~ 1 ~ ® I m 2- m ~ ~ ~ I g $ ~ 5 ~t I O EpUN- tt5 REBAR V/PLASTIC CAP < . . c I s I RE. B L.S. 1]299 - 129YY sP. m36s s,r i J 0 1HAC1 A ~ V p3- AC Ud5 iG. 'n1: 1.4 [GRNCR ` i SE. ND, 5 REBAR V: PL AS fiC o n ~ ? u sEC. 2& n3. R69v, CAP P1,S. P2695% ° 3a- sP 14 unLaY c ' " 6IN PM. 1 ' ,108 AL NUINgGE EASCRENI ° ` HY6 ] BRa55 CM 11 RPNC' -3n 'Q' PGUN- 3' BRASS Cru N 1 as o> .. .L _ _ ~ _ _ T ' k/MGP PIl'. C R9..9s~ 3.G3' EPSryL+ .L CF IR'SS t 97 .. \, ~ Npp'!9 D9'W~ // S LINE SV 1/a NE V1 Ste. L 1 •~ _ _ -\ ~--~ ` paSISN CEaRSNGS Nd9',Y iS' 9,00' I P~~. ~. '.. I. + ' M]'~.2' '-' _. ' ' ' ' \ ~ '4w ~~~~ '; g ~, :.:89'38'18' NL tl :9 J9 W~/ P.G.C. ~R=:S GO 90.-G' L.V. no S SCC 2& i]S R69V, 6!N Px-~I -'_ -..... __.- ,. (iN- 3' Lnv IN RIWGE WK) ( ("1p f - _,. _. ~ J ~'._~_ i. B.: ~ti.i'?(i 4"•1~/ ' c ~v ~ j F p: ~:dI P.. _ p5 A A m TSTLE AMER2CA OF' L7EI~iVER PURCHASERS SETTLEMENT STATEMENT PREPARED FOR: PROPERTY ADDRESS: SELLER: PURCHASER: SETTLEMENT DATE: LEGAL DESCRIPTION: 10701 WEST 32ND AVENUE WHEATRIDGE, COLORADO 80033 JAMES H. BROWN APA DISTINCTIVE LTD, 07/30/93 PLEASE REFER TO TITLE COMMITMENT NO. NR09200 COUNTY OF JEFFERSON STATE OF COLORADO ESCROW NO.: 93TS0784 DATE OF PRORATION: 07/29/93 --------------------------------------------------------------- DESCRIPTION DEBIT 1. Selling Price 2. TRUST DEED PAYABLE T0: SELLER 3. MORTG. TITLE. POL. 4. RECORDING: WARRANTY DEED 5. TRUST DEED 6. DOCllMENTARY FEE 7. CERTIFICATE OF TAXES DUE B. TAXES FOR CURRENT YEAR 210 DAYS AT 5 9. WATER and/or SEWER 10. SEWER 512.36 DUE 7-1/10-1 -ADJUSTED 11. CLOSING FEE 1/2 Sub-Totals Balance due from Purchaser TOTALS 60.00 10.00 25. 00 130. 00 30. 00 453.60 2.00 8. 46 125.,00 1300390.46 0.00 1300390.46 APPROVED AND ACCEPTED --------------------- 1250453.60 49936.86 1300390.46 --------------------- Sales or use taxes on personal property not included. TITLE AMERICA OF DENVER assures no responsibility for the adjustrent of special taxes or aasessrents unless they are shorn an the Treasurer's Certificate of Taxes Due. The condition of title to the property is to be deterrined by reference to the title evidence provided by Seller or by personal investigation. The above sfaterent of settlerent is approved as of the settlerent date shorn above and TITLE AMERICA OF DRMVRR is hereby authorized to disburse as Trustee funds as indicated. Purchaser Broker/Agent Purchaser Clgaing Agent Purchaser Purchaser 1300000.00 CREDIT 1250000.00 2.1600 1 i" Y The printed portions of this form approved by the ' Colorado Real Estate Commission (NTD 81-11.83) IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS IS A LEGAL INSTRUMENT. lF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. PROMISSORY NOTE Ds.S 1,250,000.00 Juk~wood ,Colotpdo ,19- 1. FOR VALUE RECEIVED, the undersigned (Harrower) promise(s) to pay James H. Brown or order, (Note Holder) the principal sum of -----ONE MILLION TWO HUNDRED FIFTY THOUSAND AND 00/100ths----------------------- U.S. Dollars, with interest on the unpaid principal balance from July 30 , 19 93 ,until paid, at the rate of --4.007-----percent per annum. Principal and interest shall be payable at - _- - - or such other place az the Note Holderm~designate, in --two(2)---------- payments of---FIFTY THOUSAND AND 00/100ths PLUS TATL`D CT__.. - (U.S.S -'v, v~~•~~ ), due on the ~~L^ day ofeach Jul3r ,be tnnin 8 B July 30 19 94 ,Such payments shall continue until the entire indebtedness evidenced by [his Note is fully paid; provided, however, it not sooner paid, the entire principal amount outstanding and accmed inures! thereon, shall be due and payable on July 30 .19 96 The Deed of Trust shall provide for partial releases thereof upon payment by the purchaser of the sum of FIFTY TWO THOUSAND EIGHT FOUR AND 00/100ths DOLLARS ($52,084.00), in cash or certified funds, for each lot re- leased. All payments for the releases shall be applied to reduce the principal of this Promissory Note, but shall not apply to the required annual interest payments required by this Promissory Note. Purchasers agree to purchase a minimum of SIX (6) lots per year. 2. Borrower shad pay to the Note Holder a late charge of ---12.00------ % of any payment not received by the Nou Holder within -10--days aher the payment is due, 3. Payments received forapplication tothis Note shall be applied firs[to the payment oC late charges, itany,second [o the payment ofaccmed interest at the rate specified below, if any, third, to accrued interest first specified above, and the balance applied in reduction of the principal amount hereof. 4. If any payment required by this Note is not paid when due, or if any default under any Deed of Tmst securing this Nou occurs, the entire principal amount outstanding and accrued interest thereon shall a1 once become due and payable at the option of the Note Holder (Acceleration); and the indebtedness shall bear interest at the rate of 15.OOpercent per annum from the date of default. The Note Holder shall be entitled to collect all reasonable costs and expense of collection andtor suit, including, but not limited to reasonable attorneys fees. 5. Bomtwer may prepay the principal amount outstanding under this Note, in whole or in part, at any time without penalty except NONE. Any partial prepayment shall be applied against the principal amount outstanding and shall not postpone the due date of eny subsequent payments or change the amount of such payments. No. NTD 81-I1-83. PROMISSORY NOTE ~• 7~rvrlvacd fwrdov, of ad, form.ppnrnf ay Ne Calondo Ad Fwnte Commi,dov 1771 T2•Itit1 IF THIS FORM IS USED W A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS S A IEGAL INSTRUMENT. IF NOT UNDEgSTO W, LEGAL, TA%Oq OTHEp COUNSEL SHOUfA DE CONSULTE08EFOgE SIGNINQ. DEED OF TRUST (Due on Transfer -Strict) THIS DEED OF TRUST ie made this 30th day of July , lg 93 ,between APA Distinctive Ltd., a. Colorado Limited Partnershi whoseaddreeaie 601 S.. Broadway, Suite CC DenveL Co 80209 (Borrower), and the Public 7lvstee of the County m which the Property (see paragraph 11 is situated (Trustee); for the benefit of James H. Brown (Leaded, whose address is Borrower and Leader covenant and agree as follows: 1. Property iv Trust. Borrower, in consideration of,the indebtedness herein recited and the trust herein created, hereby grants and conveys to Trustee in trust, with power of sate, the following described property located in the County of Jefferson ,State of Colorado: LEGAL DESCRIPTION IS ATTACHED HERETO AS EXHIBIT "A" to which has theaddreasof 10701 West 32nd Avenue 45v«n ' Wheat Ridge ,.Colorado $0033 ICiryl IZIp Gd.l (Property Address), together with aB its appurtenances (Property). 2. Note; Other Obligation Secured. Thin Deed of Trust is given to secure to Lender: A. the repayment of the indebtedness evidenced b Borrower's note (Note) dated July 30 93 - . 19 _ , in the principal sum of "ONE MILLION TWO UNDRED FIFTY THOUSAND AND 1 Oths----=------__ U.S. Dollars, with interest on the tmpaid principal balance from July 30 ~ lq 9 ,until td --4.007--- pa• . at the rate of -percent per annum, with principal and interest payable et or such other place as the Lender may designate, in -------two (2) ______________ payments of --FIFTY THOUSAND AND 00/100ths PLUS INTEREST--------___________________________ Dollars (U.S. S 50, 000.00 )due on the 30th day of each July beginning July 30 , 1994 ; such payments to continue until the entre indebtedness evidenced by said Note is fully paid; however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable oa July 30 19 96 ;This, Deed of Trust shall provide for partial re: upon payment by the purchaser of the sum of FIFTY TWO THOUSAND EIGHTY FOUR AND I ($52,084.00), in cash or certified funds, for each lot released. All payments ft s shall be applied to reduce the principal of the Promissory Note, but shall not required annual interest payments required by the Promissory Note. ers agree to purchase a minimum of SIX (6) lots per year. and Borrower is to pay to Lender a late charge of ---"-12.00------ -----10-------- % of any payment not received by the Lender within ~- days after payment is due; and Borrower has the right to prepay the principal amount outstanding under acid Note, in whole or in part, at any time without penalty except NONE. B. the payment of all other soma, with interest thereon at -------15.00---------- % per annum, disbursed by Lender in accordance with this Deed of Trust to protect the security of Ihie Deed of Truaq and C. the performance of the covenants and agreements of Borrower herein conmined. 3. Title. Borrower covenants [hat Borrower owns and hen the right to grant and convey the Property, and warrants title to the same, subject to general real estate taxes Ior the current year, easements of record or in existence, and recorded declarations, restrictions, reservations and covennnta, if any, as o! this date and except NONE. 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest oa the indebtedneae evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's other trovenavts contained Io the Note. 5. Application of Payments. All payments received by Leader under [he terms hereof shall be applied by Leader ffrat in payment of amounts due pursuant to paragraph 231Escrow Fonda for Taxes and Insurance), then to amounts disbursed by Lender puteuavt to paragraph 9 (Protection of Lender a Security), and the balance in accordance with the terms and wnditions of the Note. No. TD 72.11.83. DEED OF TRUST (Dot oa 74~aaster-Strlctl ll-&i the 6. Borrower and all other makers, sureties, guarantors, and endorsers hereby waive prcsentmen6 notice of dishonor and prates[, and rhry hereby agree to any extensions of time of payment and partial paymen[s before, at, or aher mawriry. This Note shall be the,joint and several obligation of Borrower and all other makers, sureties, guaranwrs and endorsers, and [heir successors and assigns. ' 7. Any notice to Borrower provided for in this Note shall be in writing and shalt be given and be effective upon (1) delivery to Borrower or (?)mailing such notice by firshclazs U.S.mail, addressed to Bortowerat the 8ortower's address stated below, orto suchother address as Borrower may designate by notice to the Note Holder. Any notice to the Note Holdershall be in writing and shall be givenand be effective upon (1) delivery to Note Holder or (2) by mailing such notice by first-class, U.S. mail, }o the Note Holder at the address stated in the first pazagraph of this Note, or to such other address az Note Holder may designate by notice to Borrower. 8. The indebtedness evidenced by this No[e is secured by a Deed of Tmsl dated July 30 19 93 ,and until released said Deed ofTrust contains additional rights of the Note Holder. Such rights may cause Acceleration of the indebtedness evidenced'by this Note. Reference is made to said Deed of Trust for such additional wrens. Such Deed of Tmst grants rights in the property identified as follows: ' LEGAL DESCRIPTION IS ATTACHED HERETO AS EXHIBIT "A" Property address: 10701 West 32nd Avenue Wheat Ridge ,Colorado 80033 (CAUTION: SIGN ORIGINAL NOTE ONLY/RETAIN COPY) IF BORROWER IS NATURAL PERSON(S): Patrick Koentges, individually an or his ears an ass gns drritrgi,nsirresr~ Paul Koentges, individually and for his heirs and assigns IF BORROWER IS CORPORATION; _ ATTEST: s~mry (SEAL) by Acsidcm IF BORROWER IS PARTNERSHIP: APA Distinctive, Ltd., a Colorado Limited PartnersdedspP.rm.RntP b} Gcrc~,l Puma Borrower's address: ~ 601 S. Broadway, Suite CC Denver, Colorado 80209 Nurse W Coryornwn KEEP THIS NOTE IN A SAFE PLACE. THE ORIGINAL OF THIS NOTE MUST BE EXHIBITED TO THE PUBLIC TRUSTEE IN ORDER 7'O RELEASE A DEED OF TRUST SECURING THIS NOTE. ~ i 6. Prior Mortgages and Dcede o[ Trust; Charges: Liens. Bortower shall perform all of Borrower's obligations under any prioi deed o[ trust and any other prior liens. Borrower shall pay all [arse, assessments and outer charges, lines aad impositions attributable to the Property which may have or attain a priority over this Deed of Trust, and leacehold payments or ground rents, if any, in the manner set out in paragraph 23 (Escrow Funds for Taxes and Insurance) or, B not required to be paid in such manner, by Borrower making payment when due, direcily to the payee thereof. Despite the foregoing, Borrower shall not be requ'ved to make payments otherwise required by this paragraph if Borrower, after notice to Lender, ehaB in good faith contest such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the Property or any part thereof, only upon Borrower making all each contested payments and other payments as ordered by the court to the registry of the court in which such proceedings are filed. 7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loan by fire or hazards included within the term "extended coverage" in an amount at least equal m the lesser of 111 the insurable value of the Property or (21 an amount sufficient to pay the sums secured by this Deed of Trust ea well es any prior encumbrances on the Property. All of the foregoing shell be known as "Property Insurance". The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and ehaB be chosen by Borrower subject to Lender a right to reject the chosen carrier for reasonable reuse. NI insurance policies and renewals thereof shall include a standard mortgage clause in favor oI Lender, and ehaB provide that the insurance carrier shall notify Lender at least tea 1101 days before cancellation, termination or any material change of coverage. Insurance policies ehaB be furnished to Lender at or before closing. Lender shall have the right to hold the policies and renewals thereof. In the event of loss, Borrower ehaB give prompt notice to the insurance carrier aad Lender. Leader may make proof of loss B not made promptly by Borrower. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair ie economically feasible and the security of this Deed of Trust is not thereby impared. If ouch reamration or repair ie not economically feasible or B the security of this Deed of Trust would be impaired, the insurance proceeds ehaB be applied to the sums secured by this Deed of Trust, with the excess, B any, paid to Borrower. If the Property is abandoned by Borrower, or B Borrower fails to respond to Lender within 30 days from the date notice is given in accordance wits paragraph 161Notice) by Ixnder to Borrower that the insurance ' carrier offers to cetile a claim for insurance benefits, Lender is authorized to collect end apply the insurance proreeda, at Lender's option, either to restoration or repair of the Property or to the some seemed by this Deed of Tlnst. Any such appBcailon of proceeds m principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for, Taxes and Iaemence) or change the amount of such installments. Notwithstanding anything herein to the contrary, B under paragraph 18 (Acceleration; Foreclosure; Other Remedies) the Property is acquired by Lender, all right, title and interest of Borrower in sad to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall peas to Lender to the extent of the sums secured by this Deed of'ilvat immediately prior to such sale or acquisition. AB of the rights of Borrower and Lender hereunder with respect to inemance carriers, insurance policies and insurance proceeds are subject to the rights of any holder of a prior deed of [coat with respect m said insurance carriers, poBciea and proceeds. 8. Preservation and Maintenance of Property. Bortower ehaB keep the Property in good repair and shall not trommit waem or permit impairment or deterioration of the Property and shall comply whit the provisions of any lease if this Deed of Trust is on a leaeehold. Borrower shall perform all o[ Borrower a obligations under any declarations, wvenaats, by-laws, rules, or other documents governing the use, ownership or occupancy o! the Property. 9. Protection of Lender's Security. Except when Borrower hoe exercised Borrower's rights under paragraph 6 above, if the Bortower fails to perform the covenants and agreements contained in this Deed of Trust, or B a default occurs in a prior Ben, or ii any action or proceeding is commenced which materially affects Lender a interest in the Property, then Lender, at Lender a option, with notice to Bortower B required by law, may make ouch appearances, diebmce such some and take such action ae is necessary to protect Lenderb interest, including, but not limited to, diebmcemeat of reasonable atmmey'e fees and entry upon the Property to make repairs. Borrower hereby assigns to Lender any right Borrower may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amouata disbursed by Lender pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and Lender [nay bring suit to collect any amounts eo disbursed plus interest epceitied in paragraph 2B (Note; Other Obligations Secmedl. Nothing conmined in thin paragraph 9 shell requ've Leader to incur any expense or take anypea~ tphereunder. 10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Pro rovided that Lender shall give Borrower notice prior to any each inspection apecHying reasonable cause therefor related-m-Lender a interest in the Property. 11. Condemnation. The proceeds of say award or cla'un for damages, direct or ceaeequentiel, is connection wi any ~'~ condemnation or other [eking of the Property, or part thereof, or for ceaveyance m lieu o! condemnation, are hereby assigned and ehaB be paid m Lender ea herein provided. However, all oI the rights of Borrower and Leader hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of cruet. In the event of a total taking of the Property, the proceeds ehaB be applied w the autos secured by this Deed of Trust, with the excess, if any, paid to Borrower. la the event of a partial taking of the Property, the proceeds remaining after taktng out any pare of the award due any prior lien holder (net award) shall be divided between Lender and Bortoweq in the same ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to Borrower ®equity in the Property immediately prior to the date of taking. Borrower a equity in the Property means the fa'v market value of the Property less the amount of same secured by both this Deed of Trust and all prior Bena )except mass) that are to receive any of the award, all at the value immediately prior to the date of taking. If the Property ie abandoned by Borrower, or it, after notice by Lender to Borrower that the cendemnor offers to make m awar authorizeed m collect and apply the proceedaa at Lender a option, either to restorau'on or spa' of the Property ortm th sums secured by this Deed of TYuat. Any such application of proceeds to principal ehaB sot extend or postpone the due date of the installments referred to m paragraphs 4 (Payment of Principal aad Interest) and 23 (Escrow Funds for Taxes and Insurance) nor change the amomt of such inamllmente. 12. Borrower Not Released. Extension of the time for paymene or modification of amortization of the some secured y rs Deed of'llust scented LY Lender to env succeaeor in ingest of Bortower shall o,.r .~ri.,._nm.7rs,i'iF,mcn aany manner, not bebregtuaeu~u o ' ' nl Borrower nor Borrow ~ ~crce. ,..,......~ ..• ~.-- commence proceedings aga'met such auceeseor or refuse to eaten twe for payment or otherwise modify amortization o e Bums secured by this Deed of'Ilvst by reason of any demand made by the a al Borrower nor Borrower's successors in interest. 13. Forbemmce by Lender Not a Waives Any forbearance by Lender in exerriaing any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 14. Remedies Cumulative. Each remedy provtded in t No! wail tt.is~eedvoL ,st • d'etinet from and cumulative to all ., _ -_~._ __ __.....a:va ,,..aor_sb>-P~7nrn-atr to eed of Trust or afforded by law or equity, and may be cxerciae concurrently; independently or successively. 15. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contain shall bind, and the rights hereunder shall inure to,t th Awe s+p+ention s All covenants and agreements of Bo B war ehaB be jotttt end provisions of paragraph 24 ITranefer aLe P ~~a y~4.. )• several. The captions and headings of the paragraphs in tl»a Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. ' require bylaw to be given in another manner, (al say notice to Borrower provided for is [his Dced of Trust shall be in writing and shall be given and be effective upon (11 delivery to Borrower or (21 mailing such notice by tiratclaas U.S. mail, addressed m Borrower at Borrower a address stated herein or at such other address as Borrower may designate by notice to Lender ae provided herein, and (bl any notice to Lender ehaB be in writing and ehaB be given and be effective upon (I I delivery m Lender or 121 maBing such notice by first-class U.S. mail, to Lendei a address stated herein or to such other address u Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of'tlnet ehaB be deemed to have been given to Borrower or Lender when given in any manner deaiguated herein. 17. Governing Law: Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such.rnnBict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, aad to this sad the provisions of the Deed of Trust and Note are declared to be severable. ~' 18. Acceleration; Foreclosure; Other Remedies. Except as provided iv paragraph 24 (1Yans(er of the Property; Assumption), upon Borrower's breach of any covenant or agreement of Borrower is this Deed of Trnst, or upon any default in a prior lien upon the Property, (unless Borrower has exercised Borsower a rights under paragraph 6 shovel, at Lender a option, allot the atone cecured by this Deed of Trust shall be immediately due sad payable (Acceleration). To exercise this option, Leader may invoke the power of sale and any other remedies permitted by law. Lender shall be entitled to collect alt reasonable costs and ezpensee incurred in pursuing the remedies provided in this Deed of 77vst, including, but not limited m, reasonable attorney a fees. If Lender invokes the power of sale, Leader shall give writmn notice to Trustee of such election. "hoarse shall give such notice to Borrower of Borsower a rights as is provided by law. Trustee shall record a copy of each notice as required by law. Trustee shall advertise the time and place of the sale of the Property, for not less than tour weeks iv a newspaper of general cuculation in each county in which the Property is situated, and shall mail copies of such notice of sale to Borrower and other persons as prescribed by law. After the lapse of such time ae may be required by law, Trustee, without demand oa Borrower, shell seB the Property at public auction to the highest bidder for cash at the time and place (which may be on the Property or any part thereof ae permitted by law) in one or more parcels es Ttvetce may think best sad iw ouch order as Trustee may determine. Lender or Lender's designee may purchase the Property at any sale. It shall not be obligatory upon the purchaser at any each sale to see to the application of the purchase money. Trustee shall apply the proceeds of the sale in the following order: (a) to ell reasonable coats and expenses of the sale, including, but not limited to, reasonable Trustee a and attorney's fees artd coats of title evidence; (b) to all sums secured by this Deed of Trust; and (cl the excess, $ any to the person or persona legally enUUed thereto. 19. Borrower a Right to Cure Default. Whenever foreclosure ie cemtrrenced [or nonpayment of say sums due hereunder, the ' owners of the Property or parties Bable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure, costs, ezpencea, late charges, atmrney a tees and other fees all in the manner provided by law. Upon such payment, this Deed of Trust sad the obligations secured hereby shall remain in full force sad effect as though no Acceleration had occured, and the foreclosure proceedings eltall be discontinued. 20. Assignruent of Rents; Appointment of Receiver; Leader in Possession. As additional security hereunder, 8orsower hereby assigns to Lender the rents of the Property; however, Borrower shall, prior to Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to cellect and retain each remote as they become due and Payable. Lender or the holder of the Trustee a certificate of purchase shall be eatiUed to a receiver for the Property after Acceleration under paragraph IS (Acceleration; Foreclosure; Other Remedieal, and shell also be so entitled during the time covered by foreclosure proceedinge~and the period of redemption, it say; and shall be entitled thereto as a matter of right without regard to the-solvency or msolvency of Borrower or oI the then owner of the Property, and without regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parse application and without notice -notice being hereby expressly waived. Upon Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedied or abandonment of the Property, Lender, in person, by agent or byjudicially-appointed receiver, shall be entitled to enter upon, mks poaeeasion of and manage the Property and to collect the rents of Use Property including those pact due. All rents collected by Lender or the receiver ehaB be applied, fimt, to payment of the costa of preservation end management o[ the Property, second, to payments due upon prior liens, and then m the Bums secured by this Deed of'huet. Leader and the receiver shall be liable to aceotmt only for those rents actually received. 21. Release. Upon payment of all sums secured by this Deed of Trust, Lender shall cause Trustee to release this Deed o! Trust end shell produce for Trustee the Note. Borrower shall pay ell caste of recordation end shall pay the emtutory'Trnstce's fees. If Lender shall not produce the Nom as aforesaid, then bender, upon notice iv accordance with paragraph 16 (Notice) from Borrower to Lewder, shall obtain, at Lender a expense, and the any lost instrument bond required by Trustee or pay the coat thereof to effect the release of this Deed~o[ Trust. ~~ ~" 22. Waiver of Exemptions. Borrower hereby waives all right of homestead and say other exemption iv the Property under amts or federal law presently existing or hereafter enacted. 23. Escrow Funds for Taxes and Insurance. This paragraph 23 is not applicable if Funds as defined below are being paid pursuant m a prior encumbrance. Subject to applicable )stir, Borrower aha8 pay m Lender, on each day installments of principal and mterest are payable under the Note, until the Note is paid is full, a cum (herein referred to as "Funds") equal to NOT APPLICABLE - of the yearly razes and aaseaemeats which may attain priority over this Deed of Trust, plus .NOT .APPLICABLE of yearly premium inetallmenta for Property Insurance, a8 ea reasonably estimated initially and from time m time by Lender on the basis of eeeessrnenm and bibs and reasonable estimates thereat, taking into account any excess Funds not used or shortages. The principal of the Funds shall beheld in a separate account by the Lender is trust for the benefit of the Borrower and deposited in an inaUtutioa the deposits or accounts of which are insured or guaranteed by a federal or slam agency, Lender aha8 apply the Funds to pay said faxes, assessments and insurance premiums. Lender may not charge for ro holding and applying the Funds, analyzing said aceouat or verifying and oompBiag said aeceesmenm and bills. Trader shall not be required to pay Borrower any interest or earnings on the Funds. Lender aha8 give to Borrower, without charge, an annual accounting of the Funds showing credim and debits to the Fucde and the purpose for which each debit to the Fonda was made. The Fonda are pledged as additional security for the some secured by this Deed of'hvet. If the amount of the Funds held by Lender shall not be sufficient to pay coxes, assessments and insurance premiums as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 3Q days from the date notice ie given im accordance with paragraph 16 (Nodcel by Lender to Borrower requesting payment thereof. Upon payment in full of ell sums secured by this Deed of Trust, Leader shall simultaneously refund m Borsower any Funds held by Lender. If under paragraph 18 (Acceleration; Foreclosure; Other Remedies) the Property is sold or the Property is otherwise acquired by Lender, Lender aheB apply, no lamr than immediately prior to the sale of the Property or its acquisition by Leader, whichever occurs tire[, any Funds held by Leader at the time of application as a credit agalnet the Bums secured by this Deed of Trust. '~ 24. Transfer_of the Property; Assumption.-. '`I7ie following events aheB be referred to herein ae a "Traneier'; (i) a-transfer or - ~conveyan¢e of rifle for any portion thereof, legal or equitable) of the Property (or any_part thereof or interest therein), (B) the exceutiaw W a contract or agreement creating a right to_trUe for any. porttou thereof, legal-or equimble)_latheProperty (or any part thereof or a~tereet=therem) (iul_or an agreement granting a poaseeaory right in the Property (or any portion thereof),-iu excess of Uuee (3) years, _- - (ivl-a sale of transfer af, or the execution of a contract or agreemen_t_creatingaright m acquae or_receive, more than fifty percent (50%) of-the-cearoBiaginmreetor more than fdty peicenC150%I of the beneticial3ntereat in the Borrower, Ivl the ieorgenization, ligaidatioa- or the dissolution of the Borrower. Not to be included as a Transfer are (i) the creation of a lien or encumbrance subordinate m this Deed of'Iivet, (u) the creation of a purchase money security ivmrest for household appliances, or (Bi) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. K%dt~eleeaox~nF_IP„en.-s-.t..-..~e.,.,.r-.__r._s _::_-.--..~:---... (bl li a '!}ans[er occurs and should Leader moot exercise Lender a option pursuant to this paragraph 24 m Accelerate, Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust including aB soma secured hereby whether or not the Instrument evidencing such conveyance, cearact or grant expressly w provides. This covenant shall run with the Property sad remain in lull force and effect until said sums are paid in full. The Lender may without notice to the Borrower deal with Transferee in the same mamer,aa with the Borrower with reference to said soma including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums, witftout in any way altering or discharging the Borsower a liability hereunder for the obligations hereby secured. fcl Should Lender not elect m Accelerate upon the occurrence of such Transfer then, subject to (bl above, the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not trader had actual or constructive notice of each Tranefeq shall not be deemed a waiver of Lender a right to make such election nor aha8 Lender be eetopped therefrom by virtue thereof. The issuance on behalf of the Lender of a routine emmment showing the amtua of the loan, whether or not Lender had actual or constructive notice of such Trmsfer, shall not be a waiver or estoppel of Lender's said rights. 25. Borrower a Copy. Borrower acknowledges receipt of a copy of the Note awd this Deed of Trost. Continued on reverse side. ." EXECUTED BY BORROWER. IF BORROWER IS NATURAL PE$SON(s): atr c oentges, n v ua y an -for ~~--ll e su oentges, n v ua y an or his~i~iis~an~~a gns IF BORROWER IS CORPORATION: ATTEST: (SEAL) N.m.d Gxp.e.dm --br Pmidm, IF BORROWER IS PARTNERSHIP: APA Distinctive, Ltd. , a Colorado Limited Partix~ts'Itt'jr by A Gmu.l Puu.r STATE OF COLORADO se. ' COUNTY OF The foiegofng instrument was acknowledged before me this day of > 19_,by* Witness my hand and official seal. My commission expires: Nmm, rmu. • I1. atm.l per.oe ar p.mn.. (.mn,hee.mel.ld.u.h pemol.l.ll. nrpcnuae, iomn, Ia a.mpk, "JoM an uP~a.idem ud Ju. Da. n 4.mwy daw a Ga.. • Cebr.d,aorpa.Wn" II• pmw.mhlp. bxn, la e unpk. "S.m Smla u{eond puu.r i..ed brSmldi a SmIU,, • pwnl pumenAip" ' ~ - ~ i ii i i u i i i ~ i i i ~ ~ .. •. a T=TLE AMEASCA OF' DERiVEE~ PURCHASERS SETTLEMENT STATEMENT PREPARED FOR: ESCROW NO.: 93TS0784 PROPERTY ADDRESS: 10701 WEST 32ND AVENUE WHEATRIDGE, CDLORADO 80033 -- SELLER: JAMES H. BROWN PURCHASER: APA DISTINCTIVE LTD. SETTLEMENT DATE: 07/30/93 LEGAL DESCRIPTION: PLEASE REFER TO TITLE COMMITMENT N0. NR09200 COUNTY OF JEFFERSDN STATE DF COLORADO DESCRIPTION 1. Selling Price 2. TRUST DEED PAYABLE T0: SELLER 3. MORTG. TITLE. POL. 4. RECORDING: WARRANTY DEED 5. TRUST DEED 6. DOCUMENTARY FEE 7. CERTIFICATE OF TAXES DUE 8. TAXES FOR CURRENT YEAR 210 DAYS AT S 2.1600 9. WATER and/or SEWER 10. SEWER 512.36 DUE 7-1/10-1 -ADJUSTED 11. CLOSING FEE 1/2 Sub-Totals Balance due £rom Purchaser TDTALS DATE DF PRORATION: 07/29/93 - ---------- DEBIT CREDIT t 1300000.00 1250000.00 60.00 10.00 2s. 00 130.00 30.00 ' 453.60 2. m0 8. 46 12s.0@ 1300390.46 12s0453.60 0.00 49936.86 1300390.46 130039@. 46 D APPROVED AND ACCEPTED Sales or use taxes on personal property not included. TITLE AHERICA OF DENVER assuaes no responsibility for the adjustment of special taxes or assessaents unless they are shorn on the Treasurer's Certificate of Taxes Due. The condition of title tc the property is to be deferained by reference to the title evidence provided by Seller or by personal investigation. The above stateeent of settleaent is approved as of the settlesent date shovn above and TITLE AtlERICA OF DENVER is hereby authorized to disburse as Trustee funds as indicated. Purchaser Broker/Agent __ Purchaser Cloaing_Agent Purchaser - Purchaser • ~ '~ The printed portions of this form approved by the Colorado Real Estate Commission (NTD 81-II-83) IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS IS A LEGAL INSTRUMENT. !F NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNWC. PROMISSORY NOTE U.s.s 1,250,000.00 Lakewood ,.., , ,. Ju 9, Colofpdb ,19_ 1. FOR VALUE RECEIVED, the undersigned (Borrower) promise(s) to pay James H. Brown or order, (Note Holder) the principal sum of -----ONE MILLION TWO HUNDRED FIFTY THOUSAND AND 00/100ths---------------------- U.S. Dollars. with interest on the un aid rind al balance from July 30 93 _-4 • o o ~----_ p P P _ , 19 _ ,until paid, at the mte of percent per annum. Principal and inerest shall be payable at _ -,-or such other place as the Note Holder ma designatc,in --two (2)---------- .paymentsot -FIFTY THOUSAND AND 00/100ths PLUS INTEREYS T-----------------_------------------------------- (U.S.$ w, wU. UV ), due on the 3U Cn dayofeach July ____ ,beginning July 30 , 14 94 . Such payments shall continue anti! the entire indebtedness evidenced by this Note is fully paid; provided, however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon, shall be due and payable on July 30 19 96 The Deed of Trust shall provide for partial releases thereof upon payment by the purchaser of the sum of FIFTY TWO THOUSAND EIGHT FOUR AND 00/100ths DOLLARS ($52,0$4.00), in cash or certified funds, for each lot re- leased. All payments for the releases shall be applied to reduce the principal of this Promissory Note, but shall not apply to the required annual interest payments required by this Promissory Note. Purchasers agree to purchase a'minimum of SIX (6) lots per year. 2. Borrower shall pay to the Note Holder a late charge of within -10--days after the payment is due. ___12.00______ % of any payment not received by the Note Holder 3. Payments received for application to this Note shall be applied first to the payment of late charges, if any, second to the payment of accmedinterest at the rate specified below, if any, third, to accmed interest first specified above, and the balance applied in reduction of the principal amount hereof. 4. lF any payment required by [his Note is no[ paid when due, or if any default under any Deed of Tmst securing this Nole occurs, the entire principal amount outstanding and accmed interest thereon shall at once become due and payable at the option of the Note Holder (Acceleration); and the indebtedness shall beaz interest at the rate oC 15.ODpercent per annum from the date of default. The Note Holder shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, but not limited to reasonable attorneys tees. 5. Borrower may prepay fhe principal amount outstanding under this Nate, in whole or in pan, at any time without penalty except NONE. Any partial prepayment shall be applied against the principal amount outstanding and shall not postpone the due date of any Subsequent payments or change the amount of such payments. Na. NTD 81.11.83. PROMISSORY NOTE . .. • ! 6. Borrower and all other makers, sureties, guarantors, and endorsers be¢by waive presentment, notice of dishonor and protest, and they hereby agree to any extensions of time of payment and panial payments before, at, or after maturity This Note shall be the joint and several obligation of Borrower and all other makers, sureties, guarantors and endorsers, and their successors and assigns. 7. Any notice to Borrower provided for in this Note shall be in writing and shall be given and be effective upon (I) delivery to Borrower or (2) mailing such notice by first-dazs O.S.mail, addressed to Borrower at the Borrower's address stated below, or to such other addressaz Botrowermay designate by notice to the Note Holder. Any notice to the Note Holder shall be in writing and shall be given and be effective upon (U delivery to Note Holder or (2) by mailing such notice by first-class. U.S. mail, )o the Note Holder at the address slated in the first paragraph of this Note, or to such other address az Note Holder may designate by notice to Borrower. 8. The indebtedness evidenced by this Note is secured by a Deed of Trust dated July 30 19 93 and until releazed said Deed of Trust wntains additional rights of the Note Holder. Such fights may cause Accelerationof the indebtedness evidenced by this Note. Reference is made to said Deed of Tmst for such additional terms. Such Deed of Tmst grants rights in the property identified az follows: LEGAL DESCRIPTION IS ATTACHED HERETO AS E$HIBIT "A" Property address: 10701 West 32nd Avenue Wheat Ridge ,-Colorado $0033 - (CAUTION: SIGN ORIGINAL NOTE ONLY/RETAIN COPY) IF BORROWER IS NATURAL PERSON(S): Patrick Koentges, individually an for his a rs an ass gns Paul Koentges, individually and for his heirs and assigns IF BORROWER IS CORPORATION: ATTEST: secrtury (SEAL) IF BORROWER IS PARTNERSHIP: Name or Corpontion _ by Accident - APA Distinctive, Ltd., a Colorado Limited Partner~hd.~pA menniP by Geeenl Anna Borrower's address: _ 601 S. Broadway, Suite CC Denver, Colorado 80209 KEEP THIS NOTE IN A SAFE PLACE. THE ORIGINAL OF THIS NOTE MUST BE EXHIBITED TO THE PUBLIC TRUSTEE IN ORDER TO RELEASE A DEED OF TRUST SECURBJG THIS NOTE. M 'ILe Primed POrtboe of ode farm.PPrvvM by Ne Coloe.do ReJ Eeuu(on,mtetlav IrD TZdl-0JI IF THIS FOAM IS USED IN A CONSUMER CREDIT TRANSACTION, CONSULT LEGAL COUNSEL. THIS SALEGALDISTRUYENT. ff NOTUNDEHSmOD, LEGIL, TAXONOTHEfl COUNSEL SHOULD DE CDNSULTEDBEFOf1E SIGNING. DEED OF TRUST Due on Transfer -Strict) THIS DEED OF TRUST is made this 30th day of 1PA Distinctive Ltd., a Colorado Lim: ,19 93 ,between (B_orrowerl, whose address i9 oai ~,. nroaaway, ~ult.e w ueuv ~,. .,~ ~..~..~ ,. and the Public Trustee of the County in which the Property (nee paragraph 11 is situated (Trustee); for the benefit of James H. Brown (Lenderl, whose address is Borrower and Lender covenant and agree as follows: 1. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein created, hereby grants and conveys to Trustee in trust, with power of sale, the following described property located in the County of Jefferson ,State of Colorado: _ _ _ __ _ LEGAL DESCRIPTION IS ATTACHED HERETO AS EXHIBIT "A" to which has the address of 10701 West 32nd Avenue Wheat Ridge Colorado $0033 ICi41_ -_ _. _ r. _. (Property Address), together with all its appurtenances (Propertyl. rate of --4.00 ~,-----_ percent per annum, with principal and interest payable at 2. Note: Other Obligations Secured. Thin Deed of Trust ie given to secure to Lender: A. the repayment of the indebtedness evidenced b Borrower's note (Note) dated July 30 ly 93 ~ the principal sum of --ONE MILLION TWO HUNDRED FIFTY THOUSAND AND 0 1 t s----------- U.S. Dollars, with interest on the Impaid principal balance from Ju y 3 , 19 9 ,until paid, at the or such other place as the Lender may designate, in -------two (2) -------------- payments of --FIFTY THOUSAND AND 00/100ths PLUS INTEREST----------------------------- DoBars IU.S. S 50, 000.00 _) due on_the 30th day of each _ _ July beginning July 30 _ , 1994 ;such payments to continue until the ent've indebtedness evidenced by said Note is fully paid; however, if not sooner paid, the ent've principal amount outstanding and accrued interest thereon, shall be due and payable on July 30 19 96 . This Deed of Trust shall. provide for partial re ases upon payment by the purchaser of the sum of FIFTY TWO.THOU$AND EIGHTY FOUR AND /100ths I ($52,084.00), in cash or certified funds, for each lot released. All payments fo the s shall be applied to reduce. the principal of the Promissory Note, but shall not pply required annual interest payments required by the Promissory Note. lers agree to purchase a minimum of SIX (6) lots per year. and Borrower is to pay to Lender a late charge of ------12.00------ % of, any payment not received by the Lendet within -----10---------- days after payment is due; and Borrower has the right to prepay the principal amount outstanding under said Note, in whole or in pan, at any time without penalty except NONE. B. the payment of all other sums, with interest thereon at -------15.00---------- % per Annum, disbursed by Lender in accordance with this Deed of Trust to protect the security of this Deed of Trus[; and C. the performance of the covenants end agrxemenu of Borrower herein contained. 3. Title. Borrower covenants that Borrower owns end has the right to grant and convey the Property, and warrants title to the same, subject to general real estate lazes Ior the current year, easements of record or in existence, and recorded declarations, restrictions, reservations and covenants, if any, as of this date and except NONE. 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, end late charges ae provided in the Note end shall perform all of Borrower a other covenants contained in the Nola. 5. Application of Payments. AB payments received by Leader under the terms hereof shall be applied by Lender first in payment of amounts due pursuant to paragraph 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by Lender pursuant to paragraph 91Protection of Lender's Security I. end the balance io accordance with the terms and conditions of the Note. No. TD 72-11-g3. DEED OF TRUST IDue on l4mefer-StricQ 11.83 ~._ 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower a obligations under any prior deed of true[ and any other prior liens. Borrower shall pay all razes, assesameats and other charges, fines and impositiaas attrHsumble to the Property which may have or attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner set out in paragraph 23 (Escrow Fuada for Taxes and Insurance) or, if not required to be paid in each manner, by Borrower making payment when due, duecdy to the payee thereof. Despite the foregoing, Borrower shall not be required to make payments otherwise required by this paragraph ii Borrower, after notice to Lender, shall iv good taidr contest such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the Property or any part thereof, only upon Borsower making all such contested payments and other payments ae ordered by the court to the registry of the court in which such proceedings are filed. 7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire or hazards included within the term "extended coverage" in an amount at least equal m the lesser of (])the insurable value of the Property or (2) an amount sufficient to pay the sums secured by this Deed of Trust as well as any prior encumbrances on the Property. All of the foregoing shall be known as "Property Insurance". The insurance enrrier providing the insurance shall be qualHied to write Property Insurance in Colorado and shell be chosen by Borrower subject to Lender's right to reject the chosen carrier Ior reasonable cause. All insurance policies and renewals thereat ehnll include a standard mortgage clause in favor of Lender, and shall provide that the insurance carrier shall notdy Lender at least ten (10) days before cancellation, termination or any material change of coverage. Insurance policies shall be furnished to Lender at or before closing. Lender ehaH have the right to hold the policies and renewals thereof. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender Leader may make proof of loss if not made promptly by Borrower. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed o[ Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaved, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, it any, paid to Borsower. If the Property is abandoned by Borrower, or H Borrower fails to respond to Lender within 30 days from the date notice is given is accordance wit.'[ paragraph 16 (Notice) 6y Lender to Borrower that the insurance carrier offers to nettle a cla'un for insurance benefits, Lender is authorized to collect and apply the insurance prorzeda, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments refersed to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) or change the amount of such installments. Notwithstanding anything herein to the centmry, H order paragraph 181Acceleration; Foreclosure; Other Remedies) the Property is acquired by Lendeq all right, tide and interest of Borrower in and to any insurance policies and in and to the proceeds tltereof resulting from damage to the Property prior m the sale or acgvieitioa shall pass to Lender to the extent of the some secured by this Deed of'IYuat immediately prior to such sale or acquisition. All of tits rights of Borrower and Leader hereunder with respect to insurance carriers, insurance policies and insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance carriers, policies and proceeds. 8. Preservation and Maintenance of Proper[}: Borrower shall keep the Property in good repair and shall not crommit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is oa a leasehold. Borrower shalt perform all of Borrowerb obligations under any declarations, covenants, by-laws, rules, or other documents governing the use, ownership or occupancy of the Property. 9. Protection of Leader a Security. Except when Borrower has exercised Borrower a rights order paragraph 6 above, if the Borrower fails to perform the covenants end agreements contained in this Deed of Trust, or if a default oceure in a prior lien, or $ any action or proceeding is commenced which materially affects Leader's interest in the Property, then Lender, at Lender a option, with notice to Borrower if required by law, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Borrower hereby assigva to Lender any right Borrower may have by reason of any prior encumbrance oa the Property or by law or otherwise to cure any defadt order said prior encumbrance. Any amounts disbursed by Leader pursuant to this paragraph 9, with interest thereon, shall become additional ivdebtednesa of Borsawer secured by this Deed of Trust. Such amounts shall be payable upon notice form Lender to Borrower requesting payment thereof, and Lender may bring suit to collect any amounts eo disbursed plus interest specified in paragraph 2B (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender to incur any expense or take any action hereunder. 10. Inepcetion. Lender may make or cause to be made reasonable entries upon and inspection of the Property, provided that Lender shall give Borrower notice prior to any each inspection specifying reasonable sauce therefor related to Leader e interest in the Property. 11. Condemnation. The proceeds of any award or claim for damages, d'vect or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and ehaH be paid to Lender as herein provided. However, ell of the rights of Borrower and Lender heretmder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a tom) taking of the Property, the proceeds ehaH be applied to the some secured by this Deed of Trust, with the excess, if any, paid to Borrower Ia the event of a partial taking of the Property, the proceeds remaining after taking oat any part of the award due any prior lien holder (net award) ehaH be divided between Lender and Borrower, is the same ratio ae the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to Borsower's equity is the Property immediately prior to the date of taking, Borrower ®equity in the Property means the fair market value of the Property less the amount of sums secured by both this Deed of Trust and all prior liens (except taxes) that are to receive any of the award, all at the value immediately prior m the date of mkiag. If the Property is abandoned by Borrower, or if, niter notice by Lender to Borrower that the condemnor offers to make as award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after tlrA date such notice is given, Leader is authorized to collect and apply the proceeds, at Lender a option, either to restoration or repair of the Property or to the sums secured by this Deed of Tkuat. Any such application of proceeds to principal ehaH not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) nor change the amount of such installments. 12. Borrower Not Released. Extension of the tune for payment or modification of amortization of the sums secured by tlria Deed of Truss granted by Lender to any successor in interest of Borrower shall not operate to release, in any mamer, the liability of the original Borsower, nor Borrower a aucceaeore in interest, from the original terms of this Deed of Trust. Lender ehaH not be required to commence proceedings against each successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of'Ilvst by reason of say demand made by the original Borrower nor Borrower's successors in interest. 13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exerrising any right or remedy hereunder, or otherwise afforded by law, ehaH not be a waiver or preclude the exercise of say such right or remedy. 14. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and cumulative to all other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. 15. Successors end Assigns Bound; Joint and Several Liability; Captions. The covenants sad agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, enbject to the provisions of paragraph 24 (T}enafer of the Property; Assumption). All covenants and agreements of Borrower ehaH be joint and several. The captions and headings of the paragraphs in this Deed of'llvat are for convenience only and are not to be used to interpret or define the provisions hereof. 16. Notice. Except for any notice required by law to be given in another manner, (a) any notice to Borrower provided for in this Deed of i4ust ehaH be in writing and ehaH be given and be effective upon (1) delivery to Borrower or (2) mai]ing each notice by firstclass U.S. mall, addressed to Borrower at Borrower a address stated herein or at such other address as Borrower may designate by notice to Leader es provided herein, and Ib) any notice m Lender shall be in writing and shall be given and be effective upon 111 delivery to Lender or 12) maHing such notice by first-class U.S. mail, to Lender a address stated herein or to such other address as Lender may designate by notice m Borrawet es provided herein. Any notice provided for in thin Deed of Trust ehaH be deemed to have beau given m Borrower or Lender when given in any manner designated herein. 17. Governing Law; Severability. The Note and this Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust or the Note conflicts with the law, such conflict shalt not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, sad to this end the provisions of the Deed of Tlvst and Note are declared to be severable. 18. Aceeleration; Foreclosure; Other Remedies. Except as provided in paragraph 24 (Transfer of the Property; Assumption), upon Borrower's breach of any covenantor agreement of Borrower in this Deed of Tmat, or upon any default in a prior lien upon the Property, (unless Borrower has exercised Borrower a rights under paragraph 6 above6 at Tinder a option, all of the name secured by this Deed of That shag be'unmediately due and payable (Acceleration). To exercise this option, Lender may invoke the power of sale and any other remedies permitted by law. bender shall lie entitled to collect all reasonable costa and expenses incurred in pumuing the remedies provided in this Deed of Trust, including, but not limited to, reasonable attomey'e fees. If Lender invokes the power of sale, bender shall give written notice to Trustee of such election. Trustee shall give each notice to Borrower of Borrower's rights as is provided by law. Trustce ehaB record a copy of such notice as required by law. Trustee shall advertise the time and place of the sale of the Property, for not lees than four weeks in a newspaper of general circulation in each county in which the Property is situated, and shall mat? copies of each notice of sale to Borrower and other persona ae prescribed by law. After the lapse of such time ae may be required by law, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder for cash at the time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcels ee Trustee may think best and is such order ae Truetce may determine. Lender or Lender's designee may purchase the Property at any Bale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money. Trustee shall apply the proceeds of the agile in the following order: (al to all reasonable costs and expenses of the sale, including, bu[ not limited to, reasonable Trustee's and attorney a fees and costs of title evidence; fb) to all soma secured by this Deed of Trust; and (c) the excess, iE any to the person or persons legally entitled thereto. 19. Borrower's Righ[ to Cure Default. Whenever foreclosure is commenced for nonpayment of any soma due heremder, the ' owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure, cee[s, expenses, late charges, attorney's fees and other fees all in the manner provided by law. Upon such payment, this Deed of Trust and the obligations secured hereby shall remain in full force and effect ae though no Acceleration had occurred, and the foreclosure proceedings shall be dieceatinued. 20. Assignment of Rents; Appointment of Receiver; Lender in Possession. AB additional security hereunder, Borrower hereby aseigus m Lender the rents of the Property; however, Borrower ehaB, prior to Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to collect and retain ouch rents ae they become due and payable. Lender or the holder of the Tlvstce's cert~cete of purchase shall be entitled to a receiver for the Property after Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedieal, and shall also be so entitled during the twe covered by foreclosure proceedinge~and the period of redemption, ii any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property, and without regard to the value thereof. Such receiver maybe appointed by any Court of competent jurisdiction upon ex pane application and without notice -notice being hereby expressly waived. Upon Acceleration under paragraph 181Acceleration; Foreclosure; Other Remedies} or abandonment of the Property, Lender, in person, by agent or byjudicially-appointed receiveq ehaB be entitled to enter upon, mks possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied, fast, to payment of the costs of preservation and management of the Property, second, to payments due upon prior liens, and then to the sums secured ' by this Deed of Trust. Lender and the receiver ehaB be liable to account only for those rents actually received. 21. Release. Upon payment of all some secured by this Deed of trust, Lender shall cause Trustee to release this Deed of Trust and shall produce for Trustee the Note. Borower shall pay all costa of recordation sad shell pay the statutory Trustee a tees. If Lender ehaB not produce the Note as aforesaid, then Lender, upon notice iv accordance with paragraph 16 (Notice} from Borrower to Lender, shall obtain, at Lender a expense, and file any lost instrument bond required by Trustee or pay the cost thereof to effect the release of this Deed~of Trust. 22. Waiver of Exemptions. Borrower hereby waives all right of homestead and any other exemption in the Property under state or federal law precently existing or hereafter enacted. 23. Escrow Funds for Taxes and Insurmce. This paragraph 23 is not applicable if Funds as defined below are being paid pursuant to a prior encumbrance. Subject to applicable laty, Borrower shalt pay m Lender, on each day inataBmente of principal and interest are payable under the Note, until the Note ie paid in full, a sum (herein referred to as "Fonda") equal to NOT APPLICABLE -of the yearly taxes and assessments which may attain priority over this Deed of Trust, ply NOT APPLICABLE of yearly premium inetaBments for Property Insurance, all as reasonably estimated initially sad from time m time by Lender on the basis of asaesemenis and bills and reasonable estimates thereof, takivg into account any excess Funds not used or shortages. The principal of the Funds shall beheld in a separate account by the Lender in [coat for the benefit of the Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or smte agency. Lender shall apply the Fonda to pay said taxes, assessments and insurance premiums. Leader may not charge for so holding and applying the Funds, eaalyzing said account or verifying and compiling said assessments and bale. Lender ehaB not be required to pay Borrower any interest or earnings on the Funds. Leader ehaB give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Fonda was made. The Fonda are pledged as additional security for the some secured by this Deed of trust. If the amount of the Fonda held by Lender ehaB not be sufficient to pay taxes, assessments and insurance premiums as they fall due, Borrower ehaB pay to Lender say amount necessary to make up the deficiency within 3Q days from the date notice ie given iv accordance with paragraph 16 (Notice) by' Lender to Borrower requesting payment thereof. Upon payment is full of all sums secured by this Deed of Trust, Lender ehaB simultaneously refund to Borrower any Fonda held by Leader. If under paragraph IS (Acceleration; Foreclosure; Other Remedies) the Property is sold or the Property is otherwise acquired by Lender, Lender ehaB apply, ao later than immediately prior to the sale of the Property or its acquisition by Lender, whichever ocems firer, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 24. Transfer of the Property; Assumption. The following events ehaB be referred to herein ae a "Traaeter'": (i) a transfer or conveyance of title (or nay portion thereof, legal or equitable) of the Property (or any part thereof or interest therein), (BI the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein), (ill) or an agreement granting a possessory right in the Property (or any portion thereof), in excess of three (31 years, (iv) a sale or transfer of, or the execution of a contract or agreement crea[iag a right to acquire or receive, more then fifty percent (50%) of the controlling interest or more than fHty percent ISO%) of the beneficial interest in the Borrower, Iv) the reorganization, liquidation or the dissolution of the Borrower. Not m be included ae a Transfer acs l it the creation of a lien or encumbrance subordinate to this Deed of Trust, (ul the creation of a purchase money security interest for household appliances, or (Bi) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. At the election of Lender, in the event of each and every Traafer: (a) All aurae cecure8 by this Deed of Trust shell become immediately due and payable (Accelerator). Ibl If n Transfer occurs end should Lender not exercise Lender a option pursuant to this paragraph 24 to Accelerate, Transferee shall be deemed to have eaewned all of the obligations of Borrower under this Deed of Trust including all soma secured hereby whether or not the instrument evidencing such oonveyence, contract or grant expressly eo provides. Thin covenant shall run with the Property avd remain in full force and effect untB said some are paid in full. The Leader may without notice to the Borrower deal with Transferee in the same manner ae with the Borrower with reference m said some including the payment ar credit to Transferee of undisbursed reserve Funds on payment in full of said sums, without is any way altering or discharging the Borrower's liability heremder for the obligations hereby secured. (cl Should Lender not elect to Accelerate upon the occurrence of each Transfer then, subject to fb) above, the mere tact of a lapse of time or the acceptance of payment aubeequent to any of such events, whether or not Lender had actual or constructive notice of suck Tkansfeq shell not be deemed a waiver of Lender e right to make each election nor shall Lender be eatopped therefrom by virtue thereof. The issuance on behaB of the Lender of a routine statement showing the status of the loan, whether or not Lender had actual or constructive notice of such Transfer, ehaB not be a waiver or estoppel of Leader's said rights. 25. Borrower ®Copy. Borrower acknowledges receipt of a cepy of the Note and this Deed of Trust. i Continued on reverse side. • EXECUTED BY BORROWER. IF BORROWER IS NATURAL PERSON(s): atr c oentges, in v ua y an for is e s - -~ 1 -" au oentges, n v ua y an or his~~~rs~an~~ass gn - '~' IF BORROWER IS CORPORATION: ATTEST: .. .. .: by (SEAL) IF BORROWER IS PARTNERSHIP: APA Distinctive, Ltd., a Colorado Limited Part"iYe~@sh~y by AC<unl P.rmer -- - - -~ -~ STATE OF COLORADO ' ss. - - courm or The forego5ng instrument was acknowledged before me this day of - __ Witness my hand and official seal. My commission expires: rvneu, whu. - - - • a. urmvl peemv ar pemne, bsn V,envm<6ldeuch pmrovld.If • mrpo.Nov, ivm, for.umpb.'7ohp Dae u Pevodemvvd lope Dovu S.vee.ry dDOe d Co.. • fobevdow .m k,'5vm Smiihn rpmatiov:'Ibpe<meMip,bM foe •. p 6menlpnener lv vvd forSmiVtdSmlJy v,awnlpumeMip" e i ~ != I C I ' i t i l~l fl'id ~ W H E A T 7 5 0 0 WEST 2 9TH A V E N U E FAX# (303) 235-2857 R I D G E WHEAT R [DGE, COLORADO 80215 PLANNING AND ZQ_NING PARKS AN_D RECREATLON_•_PUBLIC WORKS _, (303) 235-2816 (303) 235-2877 {303)235-2861 75D0 WEST 29TH AVENUE P.O. BOX 638 The City of WHEAT RIDGE. CO 80034-0638 (303) 234-5900 Wheat CityA~rnin.Fax#234-9241996 Police Dept. Fax#235-2949 Ridge anuary , Mr. Stephen Elkins Elkco Property 1165 S Pennsylvania St Denver CO 80210 Dear Steve: I have reviewed your request for approval of a resubdivision of Distinctive Addresses at Applewood and have the following comments 1. Title should be changed from "Filing No. 21° to "Amended Subdivision" "Being a Replat Lots-1-8 and 26-2~" 2. Add a Case history box with the following case numbers: WS-96-1, WS-92-1, WS-85-1, WZ-85-13 3. Telephone and address of owner are missing 4. Need address and telephone number of surveyor 5. Add signature block with attestation for the mortgagor 6. Must have tree locations with note (per original plat) 7. Add the following note: "No changes have occurred to Lots ~ through 25, Distinctive Addresses at Applewood Subdivision" 8. Need zoning on and adjacent to the site 9. Indicate side property line easements five feet in width 10. Identify Tract "A", allowed uses and maintenance responsibility 11. Add the following notes: "Only Lots 1, 2, 3 and 4 shall have the right to-access the private drive" 12. Also add the following note: "Access from Lots 4 and 5 to West 32nd Avenue is not allowed." 13. Need note regarding floodplain designation 14. Identify the private drive as a separate tract, allowed uses and maintenance responsibility 15. No parking will be allowed on the private drive 16. Any ditches crossing the property must be shown with the corresponding easement and signature block for the ditch company 17. Must have release of areas dedicated to the City by the holder of the deed of trust 18. Need an exhibit showing existing right-of-way as being "hereby vacated" and proposed right-of-way as being "hereby dedicated". This could be done as a second sheet. Staff does not support your resubdivision from a traffic/circulation standpoint. Iri order to support this redesign, the private drive would have to be removed with Lots 1, 2, 3 and 4 fronting Nelson Street. A solid fence could be built down the property line of these lots separating them from the remainder of the development. E3 x~~,v~t~.er~~~~ Mr. Stephen Elkins Page 2 January 10, 1996 Attached are responses received from other agencies regarding your proposal. If you have questions concerning any of the above, do not hesitate to contact me at 235-2848. Sincerely, Meredith Reckert Planner MR:slw attachments cc: WS-96-1 GORSUCH KIR GIS L.L.C. ATTORNEYS AT LAw~ SUITE ] lOO [4OI SEVENTEENTH STREET DENVER, COLORADO $0202 January 16, 1996 TELEPHONE (303) 299-$900 t\'1gILING ADDRESS FAx (303) 298-0215 P.O. Box 171$0 DENVER, COLORADO $0217-01$O GERALD $. DAHL A[Recr D[aL: 303-299-8930 Mr. Stephen F. Elken Applewood Reserve Venture 1165 S. Pennsylvania,-#103 Denver, Colorado 80210 APA Distinctive, Ltd. 601 S. Broadway, Suite N Denver, Colorado 80209 Re: Distinctive Addresses at Applewood Filing No. 2 in the City of Wheat Ridge, Colorado Gentlemen: I am the Wheat Ridge City Attorney. Glen Gidley, the City's Director of Planning and Development, has asked me to review the referenced proposed replat dated December 1, 1995, as well as the documents you have submitted concerning your ownership of the project. As a minor correction to the proposed plat, you will need to add a signature block evidencing the consent of all persons holding a security interest in the property (mortgage holders, deed of trust holders, etc.). The City will not approve a replat, espe- cially where public roadway dedications are involved, without the consent of all persons holding an interest in the property, whether it be an, ownership interest or a security interest. You should contact Meredith Reckert of the Department of Planning and Development for an exemplar signature block for this purpose. A second requirement for further processing will be additional documentation that the Applewood Reserve Venture is in fact the present record owner of the 'property with the right to subdivide the same. In this connection, I have reviewed a promissory note and deed of trust between James H. Brown and APA Distinctive Limited, and note that Paragraph 24 of the Deed of Trust permits Mr. Brown to accelerate payment of the Note upon transfer of legal or equitable interest in the property. _ I -have not seen the documents of title whereby the property was transferred to the GED\53027\153038.1 ` ~ Mr. Stephen F. Elken APA Distinctive, Ltd. January 16, 1996 Page 2 Applewood Reserve Venture, although Paragraph 3 of the Joint Venture Agreement recites the contribution of the property by APA Distinctive Limited. Is this the document by which title. was transferred? If so, did James Brawn consent to the transfer as required by the Deed of Trust, or, in the absence of such consent, were the Promissory Note and Deed of Trust accelerated? If so, were they paid by APA Distinctive Limited and/or Applewood Reserve Venture? Finally, I note that Section 13.].6 of the Joint Venture Agreement makes the Agreement contingent upon "acceptance and execution of the Settlement Agreement between APA Distinctive Limited, Applewood and James H. Brown on or'before July 28, 1995." Did this occur? If note-then I-must assume that the Joint Venture Agreement was never 'finalized and that APA Distinctive Limited continues to own the property. In that case, the listed owner of the property should be APA Distinctive Limited, rather than the Applewood Reserve Venture. The City's initial title search indicates this to be the case. -- I encourage you to provide me with such documents as you believe are .relevant to demonstrating the .Applewood Reserve Venture's ownership interest in the property which will empower it to serve as the applicant for a replat. Amore direct alternative is to provide the City with written certificate of owners and encumbrances from a local title company. Thank you .for your attention to this matter. Yours truly, GORSUCH KIRGIS L.L.C. Gerald E. Dahl wpc cc: Glen Gidley Meredith Reckert GED\53027\143038.1 - - - - - -- .~, NOTICE OF PUBLIC HEARING Notice is hereby given that a Public Hearing is to be held before the City of Wheat Ridge-Planning Commission on February 1, 1996 at 7:30 p.m. at 7500'West 29th Avenue, Wheat Ridge, Colorado. All interested citizens are invited to .speak at the Public Hearing or submit written comments. The following petitions shall be heard: e-No. ws-96-1: An application by Stephen Elkin for Applewood Reserve_Venture for approval of a resubdivision of property 7cnown as Distinctive Addresses at Applewood Subdivision located at 10701 West 32nd Avenue. Said property is legally described as follows: Commencing at the Southeast corner of_the SE 1/4, of the NW 1/4 of Section 28, T35, R69W, of the 6th P.M., Thence N00°19.'09"W along the East line of said SE 1/4, of .the NW 1/4, a distance of - 21.00 feet to_the Point of Beginning; thence continuing N00°19'09°W along said East. line 9.00 feet; thence S89°19'55"W and parallel to the South line of said SE_1/4, of the NW 1/4 a. distance of -64.19 'feet; thence N00°20'26"W a distance of 130.00 feet; thence S89°19'55"W a distance of 100.00 feet to a-point on the__West line of the East 1/2 of Tract 17, Brookside Subdivision, said point -also being the Southwest corner of Lot 27, Distinctive Addresses at Applewood; thence N00°20'26"W along said West line, a distance of 203.5-6 feet to_the Northwest corner of Lot 26, said Distinctive Addresses at Applewood; thence N89°16'23"E along the_ North line of Said Lot 26, a distance of 139.04 feet tb the Northeast corner-of .said Lot 26, said point also being on the westerly right-of-way line of Oak Street; thence N00°18'22"W along said westerly right-of-way line, a distance of 91.00 feet; thence leaving said westerly right-of-way line, N89°16'23"E a _ distance of 190.00 feet to the Southeast corner of Lot 9, said Distinctive Addresses at Applewood; thence N00°18'22"W a distance of 4.00 feet. to a point on the North line. of Lot 1, said Distinctive Addresses at Applewood; thence N89°16'23"E along said North line of Lot 1, a distance of 140.00 feet to the Northeast corner of said Lot 1, said point also being on the westerly right-of-way line of Nelson Street; thence S00°18'22"E along said westerly right-of-way line, a distance of 423.14 feet to a point of curvature; thence 23.47 feet along the arc of a curve to the right having a central angle of 89°38'18", a radius of 15:00..- feet, and whose chord bears 544°30'47°W, a distance of 21.15 feet-.-- to a point on the northerly right-of-way line of West 32nd ._ Avenue; thence S89°19_'55"W along said northerly right-of-way line., a distance of 289.'75 feet to the Point of Beginning, containing 176,778 square feet, or 4.0583 acres more or less. 2. Case No. ZOA-95-6: A public hearing will be held on a - proposed amendment to Wheat Ridge Code of-Laws, Section 26, Zoning~Code, Subsection 26-30 (K) Overlay Zones, regarding _ the addition of a new subsection (3) providing for Special Area Restriction Districts (SAR). Copies of the proposed F ~- amendment are available for review from the Wheat Ridge Planning Division, 7500 West 29th Avenue, Wheat Ridge, Colorado 80275, or by calling 235-2846. Sandra Wiggins, Secretary; ~~ ATTEST: Wanda Sang, City Clerk To be Published: January 18, 1996 Jefferson Sentinel - b:\d2196.phn 75CC WEST Z9T.H_AV ENUE P.o. sox s3s The City of t/JHEAT RIDGE. %0 8DD34-Cc39 13031 23»-5900 Wheat City Acmin. Fax ~ 23»-5924 Police Dept. Fax ~ 235-29»9 Ridge January 18, 1996 This is to inform you that Case No. Ws-96-1 which is a request for annrnnal of a ~$-lo rpSnhdi~ision for property located at ]n7ni w ~~„r7 Avan„p will be heard by the Wheat Ridge Planning l'~mm; ~;nn in the Council Chambers of the Municipal Complex, 7500 West 29th Avenue at 7.3q n m , on -Few,- 3~!.,~0.0.F All owners and/or their legal counsel of the parcel under consideration must be present at this hearing before the As an area resident or interested party, you have the right to attend this Public Hearing and/or submit written comments. It shall be the applicant's responsibility to notify any other persons whose presence is desired at this meeting. If you have any questions or desire to review any plans, please contact-the Planning Division. Thank you. PLANNING DIVISION <pc>phnoticeform Co r...... r..,„ ~~~ ~ ~~ 0 L~ t ~ m .~ ? m ~ ~ N ,~ m n DO m D Z o m 0 m s w V Z~~ ll..!! ~~ ~ r ~ ~ 'U[~. ~ ~2 v 6, •~ ~ s ~~ co '~-y ~ m d • C N ~ ~ F{ I1• I nm••mo ~ It miunoH n o N• • 2 HAN O PI d _ m -+~a DHH`,~O p~ ~ N. IlZnr+ O k' C O <Ci S N CD = ~ OH-i-i - o m ZHW ~ ~ -1 ID47<3m ~ o-tmmo n _= P NO L Z WZnX•0 -{ I Pn~N ~~n m -_ tp U N7P z ~ mzr (nil Nib ~. _ U~ O mfU -_ Z~. nl+ A ~`~~ w o e"f . f , ,. r;;. f r,{ 1'I~ 7r t •'. ~- ... ;__~ -_ .R) ` ~` "q IH~ ~ I;i•~ C_I ~.'a f~s ... N•5 r +~ ~... ~ I j r.1•. ~.^; C$~ ccl p~ pA ~~~ _ ~~>~ P 912 4~1 507 ( a ~ - I U C/J ~' m m ~ .n- ''37 v ~ ~t m Z n ~ ~ p ~ G+ t7z ~ S+ as -I O fT ~? LJ .A `ri N " o~ ~ o~ 1 fD f4 , a g $ °$ m tD Y ft 1: ft az n m € ; ~ `~° Ol ~ ~ _ tJ t] ~ W ~ N m ° m ag C ( o l v tr ~~ °m v ~ \° .-. : m N ~ ~ ^` ?J G ~O r is v m {-+ h ° o ~ ~ ~ ~~ S ~ \ ~ n m 1 ~ ~ ti ~ m o ~ :, C 3 ~G D ~ Z r - °s e ~: ~ ¢ t IMPORTANT. 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A - a ~ _ y _`' m _-~ v ~ _ p~ 11,x1 ' UNO ~ ~.~ 0" ~ l~~ X- ~' ' ~ .N 0;.. ~ n ~.''~ ~ a 9 @. N 3 ~ ~~. i^ .~ y'~ ~ ~ ~ D,~-~' ~ ~-...~ '~" ~~ +~o ~~~n O ,~ o L - ~ ~ m a U,~ m gw O ~ x _,~_ r._.. ~e m ~ 4 m n m v r O z n m m m v P 912 401 5~5 -.. ~ ~ cn O @~ 6~a N Z "i ~ ./ ~ ~ ft Jam-. K O W '.'U ft' ~G cm'> _, ~ .,_ m .._ P 912 401 517 l i ~ ., ~ m ~ m fn ;~ ~ O {~ -Zi ~ y z i O ~ m ~ ~ O I W S~ ~y~ ~ ',S o 11 M- ~ N ~ a $$ $ r-~ $GITE I IOO 1401 SEVENTEENTH STREET DENVER, COLORADO 8OZO2 January 24, 1996 GORSLJCH KIRGIS l..l..c. ATTORNEYS AT LAW TELEPHONE (303) 299-8900 Fax (303) 298-0215 G 6RALD E. DAHL D1RecT DIAL: 303-299-8930 Mr. Stephen F. Elken Applewoo_d Reserve Venture 1165 S. Pennsylvania, #103 Denver, Colorado 80210 MAILING ADDRESS P.O. Box 17180 DENVER, COLORADO HO2I7-OIESO Distinctive Addresses 52_West Irvington Place Denver, Colorado 80223-1$64 Re: Distinctive Addresses at Applewood Filing No. 2 in the City of Wheat Ridge; Colorado. Gentlemen: - _ . I am the Wheat Ridge City Attorney. Glen Gidley, the City's Director of Planning and Development, has asked me to review the referenced proposed replat dated December 1, 1995, as well as the documents you have submitted concerning your ownership of -the project. As a minor correction to the proposed plat, you will need to add a signature block evidencing the consent of all. persons holding a security interest in the property (mortgage holders, deed of trust holders, etc.). The City will not approve a replat, espe- cially where public roadway dedications are invo_1ved, without the consent of all persons holding an interest in the property, whether it be an ownership interest or a security interest. You should contact Meredith Reckert of the Department of Planning and Development for an exemplar signature block for this purpose. A second requirement for further processing will be additional documentation that the Applewood_Reserve Venture is in fact the present record owner of the property with the right to subdivide the same. In this connection, I have reviewed a promissory note and deed of trust between James H. Brown and APA Distinctive Limited, and note..t~iat Paragraph 24 .of the Deed of Trust permits Mr. Brown to accelerate payment of-the DTote upon transfer of legal or equitable interest in the property. I have not seen the documents. of title whereby the property was transferred to the GEO\5302]\143038.1 _.~- ,.. Mr. Stephen F. Elken Distinctive Addresses January 24, 1996 Page 2 Applewood Reserve Venture, although Paragraph 3 of the Joint Venture Agreement recites the contribution of the property by APA Distinctive Limited.. Is this the document by which title was transferred? If so, did James Brown consent to the transfer as required by the Deed of Trust, or, in-the absence of such consent, were the Promissory-Note and Deed of Trust accelerated? If so, were they paid by APA Distinctive-Limited and/or Applewood Reserve Venture? Finally, I note that Section 13.16 of the, Joint Venture Agreement makes the Agreement contingent upon "acceptance and execution of the Settlement Agreement between APA Distinctive Limited, Applewood and James H. Brown on or before July 28, 1995." Did this_ Qccur? If not, then I must assume that the Joint Venture Agreement was never finalized and that APA Distinctive Limited continues to own the property. In that case, the listed owner of the property should be APA Distinctive Limited, rather than the Applewood Reserve Venture. The City's initial title search indicates this to be the case. I encourage you to provide me with such documents as you believe are relevant to demonstrating the Applewood Reserve Venture's ownership interest in the property which will empower it to serve as the applicant for _a replat. Amore direct alternative is to provide-the City with written .certificate of__owners and encumbrances from a local title company. Thank you for your attention to this matter. Yours truly, GORSUCH KIRGIS L.L.C. Gerald E. Dahl wpc cc: Glen Gidley ~redith Reckert_ GED\E302~\143038.1 CONTACT. NUMBER : 2 DATE: 24 a.n•~1996 SUBDIVISION NAME: D TINCTIVE ADDREGSFG am nnnT ENGINEER: NAME: R & R ENnrnTZ,RRS TRVRVnR IN PHONE: (30}) 79.-a 46 FAX: (3031 790-075a ~TV Rannaarn.... ~HU x BR_nnRrT REMARKS: ~ Cr OS TR -WITUTnT 'OUR TOLE ArTCES ?: SHOW VACATTQN~ IN DRAWTNr'. (REnF.RTTnT u .~, NERn nTnmrnv .,. OCg FOR r.F.NTIVR TR - NOT SICtaTArr Tnr m~ n NT''ED TOT LTNE AND NLTMRFRS pN WEq•r GTiIF nF OAK NEE_ D ~S # ON 3_ BRAG~UnR TN r,FrTr?ND Szi IND?-C- Am~TMTTS OF Rr IIN nt~m r r (~ Amnsri ' 7• - CTq'V y~7TT,T T VATF. T1R TVr,' 7N T1Rnp NO _ 0= ANy~HING IN PRTT7nTF *+nT•+*~ $,i R pr,A M Tm SO rT.Tr,rnamE . Orn AIN Br•?rL WTmu N S' p]gCT TTST t,t.Dl nTnRV .2L SP TLTN E uOR IN 3rr]-An TATFMFNT .ID CONFTTR TnTT TN 9.,A r ~ -- ^-M T.A CT 7,T TF 10: TTTIi TTV EP GFMENT IN~DICATTnTT & -LT~T'IT TTy ~ ]~RATNanF jS7 D AG*TTT! 11 : WHAT S WOR t rN D_ EDI~A'?'T_n_s~r ~;. WH_Am HARRRNR TO TRACT A ]~ SHOW Ar~LOT NTngBERS BNGINF'ER R RRVCR~TmnTTRSc RAYMOND FINCH/RTTDDY HTNF4 REMARKS: ~_ _ How contact madec person phone. letter fax REPRESENTATIVE- City: _ Engineer: dAH-25-96 THU 5:11 PM ~ • P. 1 -,f...-~-,.¢- r,.,,. ~, ELI~~C) ~~~ REALESTATL3DEVELOPMENT EVVESTMF.NTS MANAG) vrA FAx x37-xss7 January 25, 1996 Meredith Reckert City of Wheat Ridge 25Q0 W. 29th Avenue Wheat Midge, CO 84333 Dear Meredith: $ a ' lOfstinctlve Addresses at Applewood (il~inor Ite-Plat) Please nse this letter as a request for a continuance until February 15, 1996, for the re-platting. Where are a few minor issues which I believe still need to be resolved with the City staff' and Mr. Herb ]3rown. I anticipate all these matters being resolved shortly. 'Thank you for your assistance r in this matter. Sincerely, ~+ ephen F. Elken Agent for APA Distinctive, I.td. cc: Herb Brawn ~ ; CITY OF WHEAT RIDGE Patrick ICoentges (275-9014) ~~~ ~~ D .lAN 2 ~ 199E PLANNItdG & DEVELDPMErVT ~ ,~ r 1165 S. Pennsylvarila St. • 17enver, CO 80210.1530 • 803 T/8-0380 FAX 303 74~-1174 ~ ~ 01/25/1996 17:33 420-5~ :.. ~~~ 1 .y.~~ . ,.....~ .. Y...~..... PAGE 01 MEMORANDUM _. . __ -_-- oF:wHegr To: ~~P~l~~aanning Commission ~ ~' From~''"Meredith Reckert, Planner Re: Case No. WS-96-1/Elkin °o<oRPO° Dated January 25, 1996 Please be advised that the applicant has requested a continuance of this case. Staff recommends it be continued until February 15, 1996. CRY OF WHEAT RIDGE PLANNING DIVISION STAFF REPORT TO: Planning Commission DATE OF MEETING: February 1, 1996 DATE PREPARED: January 24, 1996 CASE NO. & NAME: WS-96-iJ CASE MANAGER: Meredith Reckert ACTION REQUESTED: Approval of a 28-lot resubdivision LOCATION OF REQUEST: 10701 West 32nd Avenue NAME & ADDRESS OF APPLICANT(S): Steve Elkin 28 AR Partners LLC, 1165 S Pennsylvania Ave., #103 Denver CO 80210 NAME & ADDRESS OF OWNERS}: APA Distinctive, 601 S Broadway, #CC, Denver 80209 APPROXIMATE AREA: 10.7 acres PRESENT ZONING: Residential-One PRESENT LAND USE: Single-familyJvacant SURROUNDING ZONING: N: R-2; E, W; R-1; S: City of Lakewood _ SURROUNDING LAND USE: All sides: Low density residential COMPREHENSIVE PLAN FOR THE AREA: Low density residentiaB DATE PUBLISHED: January 18, 1996 DATE POSTED: January 18, 1996 DATED LEGAL NOTICES SENT: January 18, 1996 AGENCY CHECKLIST: (XX) ATTACHED ( )NOT REQUIRED RELATED CORRESPONDENCE: ENTER INTO RECORD: ( )COMPREHENSIVE PLAN ( XX) ZONING ORDINANCE ( XX) SUBDIVISION REGULATIONS ( )OTHER ( XX } ATTACHED ()NONE ( XX) CASE FILE & PACKET MATERIALS ( )SLIDES (XX) EXHIBITS JURISDICTION: The property is within the City of Wheat Ridge, and all notification and posting requirements have been met, therefore, there is jurisdiction to hear this case. Planning Division Staff Report Case No. WS-96-1 REQUEST Page 2 The applicant requests approval of a 28-lot resubdivision for property zoned R-1 located at the northwest quadrant of West 32nd Avenue and Nelson Street. A final subdivision plat was approved in 7993 pursuant to Case No. WS-92-t. Attached as Exhibit 'A' is a copy of the origins! approval. Discussions during the approval process focused on access to the site; that is, whether the "horseshoe'° design using Nelson Street or a southern entrance onto West 32nd Avenue was preferable from a land use and traffic perspective. In accordance with correspondence included under Exhibit 'B'; Staff recommended no subdivision access be allowed from West 32nd Avenue. The subdivision was eventually approved following Staff°s recommendation. The owner now wishes to resubdivide the southern half to reorient the subdivision access to Wes4 32nd Avenue. No changes are being proposed for the northern half. From a marketing perspective, they feel the elimination of the southern access to Nelson Street is necessary based on the product they are trying to sell, 11. RESUBDIVISION DESIGN The proposed resubdivision affects only the southern one-third of the site (Lots 1-8 and 26-28). There are no changes proposed for Lots 9-25. The West 32nd Place intersection is removed and replaced with a private drive. This drive will provide access for Lots 1 through 4. The Oak Street cul-de-sac bulb is eliminated and the street is extended south to West 32nd Avenue. Oak Street aligns with O'Hayre Court south of West 32nd Avenue: If approved, these streets need to be shown on a separate sheet as being vacated and rededicated by this document. Tract A is a common landscaped area to be maintained by the homeowner's association. The private drive must be encompassed as a separate tract and will be the maintenance responsibility of Lots 'I-4. No other lots are allowed access to the private drive, even as secondary. No on-street parking will be allowed. Although all of the reconfigured lots meet the underlying R-1 zone standards for lot width and area, there are obvious design flaws with what is being proposed. Among others, several of the lots will have street frontages on three sides (Lots 4, 5, 7 and 8). 30 foot building setbacks are required on each of the street frontages which could render the lots "undevelopable'°. If Lots 1 through 4 front westward, the residences on the east side of Nelson will face rear yards. This is undesirable from an aesthetic point-of-view and does not lend a cohesive neighborhood feeling to the area. The City Staff does not support the proposed resubdivision. In order to support the redesign, the private drive would have to be removed with Lots 7, 2, 3 and 4 fronting Nelson Street. A screening fence could be built down the interior property line of these lots separating them from the remainder of the development. See Exhibit 'C'. It is further questionable whether this is a valid application as the previous owner, who is the mortgagor, does not consent. The City Attorney is in the process of reviewing the application and title work to • Planning Division Staff Report Case No. WS-96-1 Page 3 determine if he has a material interest and therefore must agree to the changes proposed. We hope to have the City Attorney°s opinion by the time of public hearing. III. AGENCY REFERRALS Wheat Ridge Fire District will require the private drive to have 20 feet of paved surtace with a turnaround. No parking will be allowed on the private drive. Homes on Lots 1, 2, 3 and 4 shall be sprinklered and shall have horseshoe drives to allow additional off-street parking. Fire hydrant installation is required. Public Works does not support the resubdivision due to the redesigned access to West 32nd Avenue. See Exhibit 'B'. If the resubdivision is approved, a revised drainage report, erosion control plan and stree4 construction plans will be required. N. STAFF CONCLUSIONS & RECOMMENDATIONS Staff concludes the proposed resubdivision is inconsistent with City policy regarding access to collector streets. Staff further concludes that, in general, the subdivision promotes bad design and may result in several lots being unbuildable. Additionally, private drives, such as those proposed, should be allowed as a last resort, where public street frontage is impossible or impractical. That is not the case in this instance. For these reasons, a recommendation of Denial is given for Case No. WS-96-1. b:\ws961.sr Case No. WS-96-1 AGENCY REFERRALS SUMMARY Fire: (Wheat Ridge) Will require a paved turnaround. Houses on Lots 1-4 must be sprinklered. Schools: Water: (Consolidated Mutual) Can serve. Sewer: (Westridge) Can serve. U S West: No response. Public Service Company: No response. State Land Use Commission (over 5 acres): State Geologist: State Highway: Jefferson County: (Health, Commissioners, Planning) Adjacent City: (Lakewood) Has commented that the proposal creates a significant waste of land. TCI: No response. CITY DEPARTMENTS Public Works: Does not support access to West 32nd Avenue. Will require revised drainage and public improvement plans. Parks and Recreation: Police: Building Inspection: Q `~ +uS SoG 838 4L' J VY~ L~S~^ FFI~x YI^C '~N~ C t'+G "y F . ~w GF~ xr y '~ ^ ~"y y~fs s ay r~ i 7w $ w wy szs w: z w z 'I ~t; s~ ~~~ :9 I ' ~' • i m ii im f f fm ,~ ~ ~ 'XXi :Y~ ~~ $~~ '" s~ I ~ ~ ; - R ~ i S ~ Q ~ r ri :D ' S ana''9pgYpgpg 2y II~y ~8°'~ ~ ~ ~ ~~' '1 ~ m ~ : O g 65 R 'de Nrr ' I y' o ~ i~ :; s ~~ >€~ ~~~ ~~~ Rw $ ~ ~ m ~ & f ~~ 5 9~~ Q $ u. 0. 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IV 513 8 w_- x 'r a ~ I[ j~i r ~~ ! _ ~ # I I a ~ ~ + O r ~ 4 3 4Lbb b.l. Lj i'~n ., v ~ ~~~3~ ate] : omy~a- r __ P.0. 80X 638 7500 WEST 29TH AVENUE n the c/ry of CASE NO: VVS-96-7 TELEPHONE: 303/237.6944 - WHEATRIDGE,COLORAD08oo33 cWheaf Ridge M E M O R A N D II M TO: Meredith Reckert, Planner II FROM: Karl Buchholz, Traffic Engineer DATE- July 31, 1992 BIIBJECT: Street alignment for Applewood Castles Subdivision (Herb Brown Property) The street system for the above subdivision has been proposed to provide access at two new intersections on Nelson Street between 32nd and 35th Avenues. The Engineering Division has learned that the residents on Nelson Street have some concerns about increased traffic on Nelson Street caused by the proposed accesses. Addi- tionally, we understand the Planning Commission has asked the developer to eliminate the southern intersection on Nelson Street (W. 32nd Place) and create a new access on W. 32nd Avenue at O'Hayre Court or .oak street. The Engineering Division has some concerns with creating an additional access-onto 32nd Avenue and we feel that allowing the access to Nelson Street-would be in the best interest of the traveling public. West 32nd Avenue is a Collector class street which carries approximately 8000 vehicles per day. Many studies have shown that a street's accident rate is directly proportional to the number of access points on that street. For proper con- trol of access on 32nd Avenue, new subdivisions or other develop- ments should utilize existing access points where feasible. It should be noted that the volume of traffic on Nelson Street would not increase significantly if access is restricted to Nelson. The Trip Generation Manual states .that a Single family home generates approximately 10 trip ends per day. This trans- lates into 280 additional trips per day for the new subdivision. Approximately.l0 percent of-these trips will occur in-the peak traffic hour. This means that during the busiest time of the day the traffic on Nelson, Street will only increase by about one vehicle every two, minutes. This increase is not considered substantial and still falls well within the Comprehensive Plan's traffic criteria of 2-000 trips per day for local streets. Another point of concern. that has been brought to our attention is the Nelson Street approach width .at 32nd Avenue. The existing street.. width at this intersection is 24 feet without sidewalk. The City's standard for local streets calls for-a 30 foot section with sidewalk, curb and gutter. We feel-.that the narrow street approach does not present a significant safety or traffic flow problem considering the low volume of traffic and minimal amount of trucks. However, the Gity may be able to bring the approach up to standards as part of a local streets project if approved by the Public Works Advisory Committee. "The Carnation City" I 1 x I 1 i ~ • • w N fz.L A 13~2l1S NoS~~N ~~ a m m x z = O ~ ~ _~ ~ n ~ rn i fch ~`~v~ I. GARTH & MARY LOU TERRY 3320 Nelson Street Wheat Ridge. Colorado 80033 (303) 238-5536 February 10, 1996 TO WHOM IT MAY CONCERN: This letter is to convey our full support and approval for the proposed change of plans to enter the Appiewood Reserve subdivision from 32nd Avenue instead of Nelson Street. if we can be of further assistance in this matter, please feel free to contact us. Sincerely, . `~`~ • . ~ n w ~ ,,, a s c '~ s o O F tiV. 31I1i f~'~~=~t tt r: ~ n y °_ C7 n <„• . . ~~ ;1 t C a 0 l..l O O n ~i IJ O ~J tJ N ~ Q :i D '- N U; .~, ~ ~ IJ N f ~AA tJ d T t-~ J Q IJ r-t. I .7 ,!J ^~ I ~ W: 32nd ?face :•: ~~ v N ~A ~~ y ~ ~' ~, ` .A ~G~i G~~ f'._ Cn r'+ r~ n r-r r-~ Z n on ).'t O r ~ Cn ' C!] A ~ r-:- sD' ~~ It Q .~ •v ~ .t, t, DI.. ,-v ', l~ 1 I ~ .. . i~ _ ~~ ~>3 ~. i 9 ` ~~~ ------ 1 I~ 1 20 1 21 ______I _ 1 22 1 1 23 ~ 1 r. a D 1 - - -- - ' -4 1; . ~ 24 ~ fy __ f I! I, ; c`S ~' s 1 '•'l 99 1 t •,1 1 ~ n. ~ 1 1, ~ 2s ~; .' 1 t ~ I ,; 26 1 + ~. ___ .. ~ ~ r. ' I 12559 SO. FT. 1 27 :~ i ' ...r ~__ ~ c4 ~ i 32ND AVE 1 ~~ NEST 3~~TF-I PLACF~ _ ~ 1-- ', i ~ !3 ~ ~ ----,- 1 -- 12 __ , ~t 1: l~~' 'fY"'S r - -T¢G?. ~ 127,60= '00 O 1 123]6 3 .R.' `' < ~ VMNIRG SIP u ~". ~-i 27 99-= o SS ha ,.~ ~ :Y: 1 ~l fYr i t2e0e se.f~Y:, ,., i"'. i0 ~~~'•, 6 Jr,' R~ m ~~ I.j • t. , __ c ~ - ScT. 3 l SRR INR[Ce 1 ~e,se ,aAl_. srq irxti[o 1 C <j i________l uaaz se.rt. ~ ~: a ~; ~' .. 3 e . 1 ' 1 ~~ snanx[[o L1F ~ ~ ' n, 27.00-1 <~: m:. . i ~ i 5 L____J 001 eo~Rw -a ~.z Z .00 ! r I~ 1 z Z7 f'l f'l -f~ 9 00 i __.__ / r-___. r ~~ ~ ~ _~ i 18 $2 `` ~ r"SnR llx[Ee 120. 0 s ~ ' 4a axle sr. ) ~,. coax sa.rs_ jI _ -_l-ti ~--~---- c~a c~a ~ ~ -i D _ ~ Ii. -C Z1 Ul ~' .. 1 .. , ~ VD (~ D r- _ r~ r-. ii CIl 0 x lx I a I ., ~ • '„ PUBLIC HEARING SPEAKERS' LIST CASE NO: WS-96-1: DATE: February 1, 1996 REQUEST: An application by Stephen Elkin for Applewood Reserve Venture for approval of a resubdivision of property known as Distinctive Addresses at Applewood Subdivision located at 10701 West 32nd Avenue. CASE NO WS-96-1 HAS BEEN CONTINUED AT THE REQUEST OF THE APPLICANT. _~ - 7TYd }Ofn, strbfnttisd a~ .. - .. -drFlW~et:tAeraq PUBLIC TRUSTEE'S NOTICE OF RIGIiTS TO CURE OR REDEEII4 ~ foreclodng e Sale No. tar ;f.~ ~,~ -,~ 'to Whom czeena;.,Lhj~( lice is given with regard to the following described Deed of Trust: - APA Distinctive, Ltd., a Color limited partn rshi a r>.cc Den ges an au oentge ~JngmaPGrantor(Borrower) ' ~S [i. Brown _~/ James H. Brown July 30, 1993 ' September 51, 1993 Jefferson Original Beneficiary Current Owner of the Evidence of Debt Secured by the Deed of Trust Date of Deed of'frust Recording Date of Deed of Trust County of Recording 93143829 Rrrrna°a N°, Reception and/or Film Nas. film "°' of Recorded Dced of Trust Bo°k Na Book and Page of Deed of Trusf Page Na This is v se au th l a foreclosure proceeding was commenced in the office of the undersi ned Pub is Trustee on -- ~~~ ~ ~ , 1. ~---=~o-areeoset,e.:enc:fl:eabove-deseribedDecd ,-Trusr.-5nc'foiiowmg descn cd property situate in the , County of J f f r on , State of Colorado, is ®aIl ^apor[ion of the property encumbered by said Deed of Trust: See Attached Descripti also known by as street and number as: 10701 W. 32nd Ave. , Wheatridge, Colorado YOU MAY HAVE AN INTERL•ST IN TFIE REAL PROPERTY BEING FORECLOSED, OR HAVE CERTAIN RIGHTS OR SUFFER CERTAIN LIABILITIES PURSUANT TO COLORADO STATUTES AS A RESULT OF SA1D FORECLOSURE. YOU MAY HAVE TFIE RIGHT TO RBDEEM SAID REAL PROPERTY OR YOU MAY HAVE THE RIGHT TO CURE A DEFAULT UNDER TfiE DEED OF TRUST BE WG FORECLOSED. A COPY OF SAID STAT- UTES, AS SUCH STATUTES ARE PRESENTLY CONSTITUTED, WHICH MAY AFFECT YOUR R[GIi'I'S, IS ON THE BACK OF THIS NOTICE. HOWEVER, YOUR RIGHTS MAY IIE DLTERMINED BY PREVIOUS STATUTES. THE LIEN OF TFIE DEED OF TRUST BEING FORECLOSED MAY NO'f BE A FIRST LFEN. Name, address and telephone number of the attorney(s) representing the owner of the indebtedness: DATED at BURNS WATT SMTT'4r x M rr r -Rob rr T f'ogg Dun r.~" X03 T7rh Srrr•ar~ grP_ gnn tTenvl„-- ~t t'n~na C3o3) 830-7000 FEB 1 3 lggfir ,this day of , Ig , HELEN PHILLIPS Sale Date: ~oldan, Colorado APR 101996 Public Truslce of County State of Colorado By. .. cputy Public Imsl~~- For use Doty in connection will, Deeds of Trust dated after July I, 1965. This Corm is to be mailed to those persons and in accordance with those statutes set forth on the reverse of this Corm. ~~- Name and Add ~fPers° C USN IYC N0. 259. RCV. 6-94. PUBLIC TRUSTEES N02`ICE OF RIGHTS TO CURE OR REDEEM Capyrlght I99n -mdfurd Publishing, 1743 Wazen st., Demsr. CO R0202-(303) 292-2500 - 6.94 ~`~ IaxHlnlr "w" : ~: R PRRCEL OF LRND LOCATED Iti THB SOUTIIWBST 1/4 NORTIlEAS7 1/? AND'SOUTHEAfiT 1/~ NORTliWBST I/4 OF SECTIDti 2H, TOWIiSNIP 3 SOUTiI, RRNGS F9 NE57 OF THS 6Tl1 1'.M., CITY OF 61IIEAT RIDGE, COUtTTY OF JEFFERSONi, b'TATE OF COLORADO, ttOFE FULLY DESCRIBED AS FOLIAWS, L'OMMENCItIC AT TIIE BOUTIIEA5T CORIIER OF THE SC+UTIIER57 1 /4 / lIORTHWE6T 1/4 OR BAID 6ECTION 281 TIIEIICE tIORTIi 0Fl°19'09 WEST ALONG TfIE BAST LINE OF SAID SOUTHEAST I/4 NORTHWEST ~,. 1/4, R DISTANCB OF 21.00 FBST TO THB TRUE POINT OF PEGINNINOI T1lBNCB tiORTiI 00"19'09" WEST CONTINUING ALSAID IiE SKID EAST LINEr A DI6TANCS OF 9.00 FEET TO A pOItIT, POINT BBIt70 THB 60UTt16RST CORNER OF TIIE EAST 1/2 OF TRACT 17, BROOKSIDS 6UHDIVISI0ti1 TkISNCE SOUr1l 89^19'56" WEST P~~ALA®DISTANCB OF 64.19NFBBT TOIR POINTEATIIEtiCE NOATHIiW65T 00.20'16" WEST, A DISTANCE OF 130.00 FEET TU A POINTr THENCE SOUTH 69^19'56" K,ST, A DISTANCE DF 39.41 FEET TO A POINT, SKID POINT BBINL~ Tl1B WB6T LINE OF TIIE SRID EAST 1/2 OF TRACT 171 THBNCB I'.ORTE1 00.20'16" WEST ALOtiG THE 3143.56NFBBT TOIA POINTION TE36TSOUTHBRLYARICIITAOFBW~Y LINE OF wseii 35TH RVENUS, BAID POINT RLSO BEING T1tE NORTHWEST CORNER OF LOT, 1, KEN-MAR SUBDIVISION1~T1lBt'CE NORTEI B9• lb' 19" BAST PnARLLBL TO TIIE NORTFI LINE OF 7'11E . 60UTHEABT 1/V NORTHWBST 1'/4 OF SAID SECTION 28 AND.7ILONG'~ THE SOUTHERLY RIGHT OF WAY LINB OF SRID WB6T 35Tf1 AVENUE, p pZSTANCB OF 1'59.57 F887' TO A POINT. SKID POINT HS7NG THE NORTHEAST CORNER OF TRACT A AND NORTHWEST CORNER OF LOT 2 OF 6AID i(EN-MAR 6UPDIVISIONI THENCE SOUTFI 00.16'.22" ERST ALONG THB WEST LINE OF SAID LOT 2, A DISTANCE OF 125.00 FBST TO A POINT, SKID POINT 8EI]iG TIIE SOUTHWEST CORNER OR SAID LOT 21 T1IENCS NORTiI 89.16'19" EAST ALONG THE SOUTH LINB OF LOTS 2 RND 3 OF SRID Y.EN-MAR SUBDIVISION, p DISTANCB OF 204.95 FEET TO A FOI]iT, SKID POINT BIIING TFIE SOUTHEAST CORNER OF SKID LOT 31 TFIENCE SOUTH 00°18'22" ERST ALONG THS WEST LINfi OF LOT 5 OF SAID KEN-HRR 6UBDIVISION, A DI6TANCE OF 125.00 FBST TO A POINT, 6RID NORTH H9°16'19$ BASTHRLONGCOHB660UTFiSLINELOF SAIDTLOTCS AND THE NORTH LINE OF TRACT B OF 6RID I(EN-MRR SUBDIVISION, A DI6TANCB OF 105.00 FEET TO A pOIIIT ON THE WESTERLY EASTTALONGRTHBIW66TERLYLRICNTTOFBWAYTLINEEOF SAID NELSON2" `~ STREET, A DISTANCE OF 50.00 FEET TO A POINT, SAID POINT BEING THE NORTHEAST CORNER OF LOT 6 OF SAID KEN-MAR .. SUBDIVI6ION1 TIIBNCE SOUTtI 89°16'19" WEST ALOIIG TIIE 60UTH'LINB OF SAID TRACT H AND NORTH LIRE OF SKID LOT 6, A DI6TANCS OF 105.00 FEET TO A PO6t+Ir~t1ENCE 60UT1~00I16'22" THE NORTHWEST CORNER OF SKID LOT , • EA6T ALONG Tt18 WEST LINE OR SKID LUT 6• R DISTAtiC6 OF 125•.00 FSST TO,A pOI17T, SAID POINT AEIN^ Tl1E 60UTEiWEST , ' L TNSROFFSRICDS 9DIVISIONt1LTk0iBNCSN60UTHT89"1619"LWE6T F ALONG THB NORTH L7 NS OF 6AID LOT 7, A DISTANCE OF 35.00 FEET TO A POINT, SKID pOItiT BEItiC TI16 ti~~itTEtWEST CORtiER OF-6AID LOT 71 Tl1ENCE6609T~N0 1080F26AIDSRBILMAR TiISAZD WEST LINE Of LOT6 7, 6UBDIVIS70N, A DISTANCE OR X20,00 FSST TO A POIIIT, POINT BEING T[IS 60UT11WEST CORNER OF SAID LUT 10 AND NOItTktf4E5T CORtiER OF LOT 11 OF SAID i(EN-MAR SUHI7(VISIOIiI THENCE NORTH. 89°16' 19" ERST ALOIiG Tk1E 60UTIiALDI STANCE SRID LOT 10 AND NORTH LItiE OF SAID LOT il, OF 140.00 PEST TO A POINT ON TITS WI35TERLY RICIIT OF WAY LINE OF SAID NELSON 6TREETr TIIEIiCE SOUTH 09^1B'22" EAST, EAST6RADISTTSNCS00F08.50EFEET TOPAZ[ OI111'iIE5AID1i1'0I11T PEING56" ON THE WESTERLY RICSiT OF WAY LINE OF SRID 7iEL5017 STREETI THENCE SOUT}I 00°18'22" EAST ALONG THE SRID WESTERLY SRIDTPOINTRBEINGEDNATUE~170RTEERLY3RIG10iT OFEWAY~LINE OFTI WEST 32ND AVENUE AND RLSO BEING 21.00 FEET NORTH OF TIlE 2 BUTTHENCE SOUTEOI 89°19T56,QWESTRALONGTT11 E4 SRIDSWORTHERLYOII . RICIiT OF WAY LINE, R DISTANCE OF 313.16 FSST TO TIIE TRUE POIIiT OF BEGINNING, COUNTY OF JEFFERSON, STATE OF COLODA00 } x COLORAUU RIVISCll S'1'A'1'U'1'ES 38-36-103. Camb[ned notice of right to cure nnJ right to redeem. (I) Within lcn days after the recording oC the notice of election and demand far saic by the public trustee pursuant to scclimt 38-38.10(, or not less than sixteen oar more than twenty-five Jays aRer the entry of a decree of foreclosure or the issuance of a writ oC execution Directing lbe sheriff to sell real property, the public lrustec or sheriff shall mail a notice to the grmnors of the JceJ of frost or mortgage being foreclosed, to any subsequent owners Of the property being foreclosed, to the current owner of the properly 6cing solJ, anD [o any other person having a right to curt a dcfaull antler scctiun 3R-}$-(p4 or a right to rcdccm the propel ty subject to (brcdusurc undo[ scclion 78-38-302, 38-38303, 38-38-305 or 3R-38-30G. Such notice shall stale the n;totes of the grantors of the Jeep oC trust m' mortgage anti the original bcneGciarics or gruttccs tltcrcof, the uanms of the currari owner o(an cvidcncc o(dcbt sccurcJ by the deed ul' trust or morlgagc bciug forccloscJ or the owner of the Iicu bGllg fUCCCIOSC(i, anti the ^nme5, aD(IICSSCS, anJ ICICfIhonC tl^mbefs Of UIC attorneys, if any, rcprescnting the foreclosing licnur. A legible copy of this section auJ scctimu 3R-37-IOR, 3R-38-104 an(I 3R-38.301 lu 38-38-70G shall be scot with such notice. ' (2) 1'he combined notice required by subsection (f) of this scclion shall be mailcD to those persons who have aright to cure or rcdccm pursuant to an inslrumenl cvidcncing such right which was recordeJ with the county clerk anD recorder o! the county in whirl, said property is located subsequent to the recording of the decJ of trust, nwrtgage, or o0ter lien being foreclosed an(I prior to Jtc recording of the notice oCcledion and demanJ (or saic or Notice o(conuncncentent o(Ihe pooling furccfosure adios (lis pcndens). Such combined notice shall be mailed to such persons al Ihcir respcctivc addresses shown in the rccordeJ instruments through which Ihcir rights [o curt or redeeat arc (Teri ved. Postage costs colder Lhis section shall be part of the foreclosure costs. 38-3A-I04. Right to cure u9ten Jefnult is nonpnyntenl. (I) Whenever the Jefauit in the lcnns of the cvidcncc of ilebt and decd of trust or morgagc being forcclose(i is nonpayntcut oCauy sums Juc Ihcrcundcy the owners of the property 6cing foreclosed, any person liable thereon, any guarmuor of the cvidcncc of debt, anJ, if the JccJ of trust or mortgngc bciug forccloscD was rccor(IcJ on or after Oclobcr 1, 1990, any holJcr of an intcrest junior to the lien 6cing Foreclose) by virtue of being a licnoq lessee, or vcn(Ice uf, or holder of cot casenwnl or a ccrtiGcnle of purchase on. t6c property, under a rccordeD inslrumcnt, 56x11 be cnlitleD In cure Suit Jcfault if, at Icasl seven days prior to the (late the Ioreclosure sale is hci(1, such persons give written notice, attaching true copies of instrumdris cvidcncing their right to curt, to the public trustcc ur sherilT conducting the salt of their intention In curt Sail Default. On nr berore 12 coon un the Jay before the (tat(: upon which said sale is set. as it may hove bccu (mntinueJ or postpone), such persons Desiring to cure the Jcfault shall pay lu the ofliccr concluding the sale all of the following: (a) All expenses actually incurrcJ by the ofliccr conJuctiug the saic; (b) l'hc amount authorized in scclion 38-77-104 (I) (b) plus an aJditionxl fcc oClhirty-Gvc Dollars; (c) All costs, expcnscs, Isle charges, attorney fccs, an(1 olber lets and ch:vges incurre(1 by the uwncr oClbe eviJcnce of debt as of the dale of cure and which arc allowable 6y scclion 38=3g-t07 or allowable by the cvidcncc of debt, DccD of frost, or mortgage; anfl (J) All other sums which are Juc under l6c evidenecbf de6l or JecD of trust or mortgage as of the Date of cure; except that any principal which wou1D not have bccu due in the absence of acecleration of the debt shall not 6e inclu(Ied in such sums due. (2) Upon rcccipt by the ofliccr cun(lucting the sate oCsaiJ notice of intention to cure the dcfaull, such olGcer shall obtain in writing from the owner of the cvidcncc of debt, JceJ of trust, or mortgage a stalemenl of all scans ncccssary to curt sail Jcfault. If, al Ieasf furty- cight hours prior to the salt, the owner o! the cviJcucc of debt, (iccJ of trust, or mortgage has not (Iclivercd a written slatcmcnl to 16c oReer conducting the salt setting forth the amount ncccssary to be paid to curt such Default, the sale shall be posp,mteJ by such ofliccr for no longer than tvvo weeks and t6ercafter from wcck to wcck, but nnl to eneccJ cote month or the perioD of continuance allowed by scclion 3R-3R•109 (i), whichever is longer, until such slatenunl has bccu pmvicleJ. I(a cure is utacle, intcrest far (he period of such poslponentent shall be allowed only al the regular mIC auJ ilnl eI the IICLIUII I:IIC Sp('l'IIIC<I In the CVI(ICnCC of dc61, (IcCJ of trust, or mortgngc, if n cure is not made, intcrest at the Jcfault rate, if specific) iu the cvidcncc of de61, deft! of tru51, or mortgngc, for the period of such puslponement shall be allowed. Upon rcccipt of the curt autuunl, the olGcer conducting the sale shall Jclivcr sai(i sum to the owner of the cvidcncc of debt, JccJ of trust, or mortgage or to the agent or alkmtry for such owner, the furccosurc shall be withJraw'n or JismisseJ as proviJeD by law, and the cvidcncc of debt sludl be retunted uncaucelieJ lu the uwncr Iherenf by the public lrustec or court. (2.5) 1Vhcre [hc dcfaull in the Lcrms Of the cvidcncc al debt and dccJ u( trust or mortgage vu ,ehieh the uwncr ciaints the right to foreclose is the failure of a borrower to furnish h:Jmtee sheets or lax returns, the bon'ower may cure such Jelault in the nuuuter prescribccl in lhix scdimt by providing to the owner of the cvidcu(•c of (Ic61, JccD of Irust, or ntorigagc Ule fefIUIIC(I balance SIICC tS, hlx rdunts, or other adequate cvidcncc oC the borrower's financial coudilion su long as all Bunts currently Juc uudcr the cvidcncc of clebt have bccu pail anD all amounts Juc under paragraphs (a) through (c) of subsection (I) of this scclion, whcrc applicable, have bccu pail. (3) Nothing in this section shall cunstilulca waivcrofany right accruing on account oft6c violation of any covenant of sail cvidcncc of debt, dcc(I of tots(, or morlgagc occurring oiler t6c payment (lescri6cJ in subscclion (q of this scctiun. . 38-38-301. 1'urchnser paying charges -redemption. (1) The purchaser at any sale ofpruperly under foreclosure oCJecds oftrustonnorigages or antler execution or order of any court of compctcnt jurisdiction which bas received from the public truslec or sheriff conJuctiug saiD saic a ccrtificatc of purclmse cvidctcing such sale may pay at any Time after receiving such ccrtificatc of purchase an(I during t6c period of redemption described in section 38-3R-302: (a) Any general or special taxes or ditch or water asscssntenls IcvicJ or accruing against said Property; (b) Titc premiums on any insurance ncccssary to protect any impruvcmcnts comprising a part of such prupcrty; (c) Sums due un any prior Iicu or encumbrance on such property; (d) ICtbe property is a lcascltoiJ or is subject to a (case, all sums Juc unncr such lease; (e) The reasonable costs anD expenses of Jcfending, protecting, auJ maintaining such property anD the holDer's interest in such properly, including repair and maintenmtee costs anJ expcnscs, costs mtD expcnscs of protecting mtJ securing the property, reeei vet's fccs and expcnscs, iosnection tees, court costs, attorney fccs, :utD fccs anJ costs of an aftontcy in the cmploymcnl of the holJcr of the ecrtifrantc oC purchase; anJ (f) Such other costs and expcnscs which may be aulhurizcd by a court oCcontpclcntjurisdiclion. (2) Any waiver of the rights of rcdcmplion or rights to curt Jcfault provi(icD in this article, ma(Ic print to the Jale of any Jcfault under any morlgagc, DccJ of trust, or otlrcr instrument cvidcncing a lien, or cot cvidcncc of Jcbl secured thereby, sbali be deemed as against public policy anD shall be vuiJ. 38-38-302. Redemption rvllhin sped0ed pcrioJ - procedure. (I) Gxcept as provided in this section with respect to agricultural real cstatc, within seventy-Gvc Days after the Jate of the salt oC the property 6y virlueuf any forcclosurc of a morlgagc, decd oP[rtrst; or other lien or by virtue of an execution and levy, the uwncr o(Ihc property, or any other person liable oiler the forcclosurc sale for the JeGcicncy, may rcdccm the properly sold by paying to the public lrustec or sherililhe sum for which the property was so1J with intcrest from the Jale of sale, together with any taxes paid or other proper charges as now pmvideD by law, rvilh intcrest from the dale such expense cans paid. Such intcrest shall be charge) at the JeGmfl raft if specified in the original inslrumcnt or, if not so spccificJ, al the regular rate specific) in the original inslrumcnt. for the purposes of this section, "other proper charges" incluJes those costs auJ expcnscs paid by the holler of a ccrtificatc of purchase as permitteJ by scclion 38-78-3Ui (l) for which sail holder Iws GIeD with the public truslec or shcri6con(luding the salt receipts evi(Icncing such payments. (2) The public trustcc ar sheriff slmll execute anJ Jclivcr a ccrtificatc oC rc(Icmption to dte person rcdecming anD shall record a duplicate ccrtificatc in the county clerk and recorder's office of (hc county whcrc the property is locate). The public trustcc or shcrilf shall retain the rccordcd wpy o(the ccrtificatc df rcdcmplion. The public trustcc or sherifCsllafl forthwith pay sail money to the ImI(Icr of the ccrtificatc nC purchase. If the owner oClhe properly fails to re(Icem uudcr this secliat, any other person who redeems under this scctiun shall be issued"a ccrtificatc of rcdcmplion only after the espir.(tion of tiw Proper rcdcmplion period. (3) In thecase of any morlgagc ordccD of trust upon one or more pnrcds of real estate, all of which were ngricuilural real estate both upon the date of retooling oCsuch morlgagc or (Ice(I of (rust and on the daft of the forcclosurc sate, the rcdcmplion period described in subscclion (Q oClhis section is six months. (4) The teen "agricultural real cstatc" means, (or the purpose of Ihis scclion, mty parcel of real cstatc, Wont of which, on the dme of recording of the mortgngc or decd oCirust or at the lime of the forcclosurc saic under such mortgngc or (Ice) of trust, is cilhcr planed as a subdivision or is both WcatcJ within an incorpomtcD town, city, or city mtD county anJ is riot valucD anD assessed as agricultural Ian) pursuant to sections 39-I-102 (LG) (a) and 39-1-103 (5), C.K.S., by the assessor of the county in which t6c land is locate). If it is not erident Crom the legal Jescriplion conlaine~ in the mortgage or deed of trust that lie real cstatc JescribeD therein is or iz not agricultural real cstatc, the public truslec or shcrili shag accept as cvidcncc that the parcel is not agriculf oral real cstatc cilhcr a ecrlificcl copy of the _ _ _ _ _ ~! ,~ { ~;We support the proposed revision the Distinctive Addresses at Applewood plan which moves the main entrance to 32nd. Avenue ..................... i -~c~.-.-_- i ,t~o~~v..,_ ~~~ ~- , - ~~c~~ ~,~,~ ~~vs~ ADDRESS ar~/~i~i~'~~v 3(~QS _~szQ,oah ~ , < 3.~~,a /~//~/ _, 666 /flyer ~..~s~~~ ~~ ~~~~~- ~ Za~~ ~- io ~G 5 ~ 3~5~`" ~~ ~~ ;: ~i jk i~ I' i~ li 1. is i' ~, Planning Commission Minutes Page 3 February 15, 1996 C Commissioner WILLIAMS moved that Case No. MS-96-3, a request for approval of a two-lot minor subdivision for property located at 5500 west 38th Avenue, be approved for the following reasons: 1. A subdivision is required so sale of the commercial building can occur. 2. All requirements of the. Subdivision Regulations have been met. Commissioner CERVENY seconded the motion. Motion carried 5-0. 2. Case No. WS-96-1: An application by Stephen Elken for Applewood Reserve Venture. for approval of a resubdivision of property known as Distinctive Addresses at Applewood Subdivision located at 10701 West 32nd Avenue. Meredith Reckert presented the staff report. Entered into the record .and accepted by the Chairperson were the Comprehensive - Plan, Zoning Ordinance, Subdivision Regulations, case file, packet materials and exhibits. There were no questions .at that time. ( Steve Elken, 1165 South Pennsylvania St., Denver was sworn in. Mr. Elken passed out copies of a revised plan for. Applewood Reserve to Commission. Mr. Elken explained the outcome of a neighborhood meeting held the weekend prior to the public hearing. Among the suggested revisions by the neighbors were the elimination of the private drive; reorienting four houses toward Nelson Street; and elimination of wooden fences or brick walls in certain areas. He spoke about traffic impact and informed those present that a traffic study would be completed in the next two weeks. Mr. Elken stated the mortgagor would be reviewing the proposed revisions to the plan. Mr. Elken passed to Commission a large placard containing pictures of neighboring homes. He discussed traffic impact and flow, estimating to increase the number of daily trips about 150-170, or about a 40g increase. He passed around a letter of support for the proposed plan from I. Garth and Mary Lou Terry, 3320 Nelson Street. Chairperson LANGDON asked Ms. Reckert if was okay for the applicant to make so many changes to the proposed plan? Ms. Reckert stated that the applicant could amend his application. The proposed revisions eliminate some concern with the rear lots facing Nelson Street, however staff prefers the plan submitted initially. Planning Commission Minutes February 15, 1996 Page 4 Chairperson LANGDON asked if curb and gutter would be required on Nelson Street, should the homes face Nelson? Ms. Reckert stated that the owner would be required with the development of the subdivision to install curb, gutter and sidewalk. Chairperson LANGDON asked then if one side of Nelson would have curb, gutter and sidewalk, the other side would not? Ms. Reckert agreed that would be the. case. Discussion followed. Ms. Reckert pointed out on the map projected overhead, existing curb, gutter and sidewalk on Nelson. She stated the developer would have to continue that to the south. Mark Lawrence, 8101 East Prentice, Suite 420, Englewood was sworn in. Mr. Lawrence stated he represented vintage Marketing Group who had been hired by the developer to_market the 28 lots to builders and consumers. He elaborated. Mr. Lawrence was in favor of access onto West 32nd Avenue.. Chairperson LANGDON reiterated that the applicant had revised the_ plan submittal by eliminating the private drive. Mr. Lawrence acknowledged that change. Karla Nostas,__3500 Parfet Street, was sworn in. Ms. Nostas stated she was in favor of bringing Oak Street through and making it the•-entrance to the .development.. „- Pat Andrews, 3270 Nelson Street, was sworn in. Ms. Andrews stated she was in favor of the development, so long as the four houses face Nelson Street. She was pleased with the design for traffic flow.. Connie Bristol, 10825 West 32nd Avenue, was sworn in. Ms. Bristol pointed out her home on the map projected overhead and noted that she lives west of the proposed development. Ms. Bristol stated she was in favor of the plan to bring Oak Street through, utilizing Oak as access. She stated that plan was much preferred, due to safety concerns. Ms. Bristol stated she had spoken to the developer who had agreed to allow access to and from her property onto Oak Street. She did have some concern regarding the proposed Oak Street median. Chairperson LANGDON confirmed that the developer, Mr. Elken, had stated earlier that he would. shorten the proposed median and allow Ms. Bristol access to Oak Street. Planning Commission Minutes February 15, 1996 Page 5 Mr. Elken presented a petition containing 16 names and addresses of .neighboring residents in favor of the proposed revised development. Chris Heiman, 3335 Nelson Street, was sworn in. Ms. Heiman complimented the developer for listening to the neighborhood. She agreed the four horses should face Nelson Street and liked the Oak Street-exit. Ms. Heiman favored allowing egress/ingress of the Bristol residence-onto Oak Street. Commissioner WILLIAMS asked if_the revised proposal presented by Mr. Elken this evening concurs with staff recommendations. Ms. Reckert answered Staff prefers the horseshoe configuration with Nelson Street, but liked the fact that developer has agreed to remove the private drive and face the houses toward Nelson Street. - Ms. Reckert stated that Bob Goebel, Director of Public Works was present and willing to answer any questions Commission might have. Commissioner CERVENY requested that Mr. Goebel comment. Mr. Goebel described traffic flow, comparing the revised proposal with the original development proposal. Before making a recommendation, he stated he would like to talk with the traffic engineer doing the traffic study on the development. Commissioner CERVENY asked Mr. Goebel. if he felt there was. substantial change from the comments made by Karl Bucholz regarding the original proposal. Mr. Goebel stated the volume of traffic may be slightly higher on West 32nd Avenue. Everything else, generally, is the same, he added .- - -- -- - - - - Commissioner CERVENY asked Mr. Goebel if he could foresee. problems with safety factors, comparing the revised proposal to the previous plan. Mr. Goebel feels the greater number of access points you have_ onto a collector street, the more dangerous it is. He added that he--preferred, from a traffic standpoint, the original alignment. Commissioner RASPLICKA asked if thought had been given to installing a cross-street? Mr. Goebel stated that Lakewood had .been considering re-alignment of Nelson Street with Oak Street. Planning Commission Minutes February 15, 1996 Discussion followed. Page 6 Ms. Reckert stated that the City of Lakewood had not responded with plans for street re-alignment. Commissioner JOHNSON asked Mr. Goebel if he had concern with drainage_on the subject parcel. Mr. Goebel stated it was his opinion that drainage would not be a major problem with either plan. He added that Council would have to establish street width due to a recent Charter amendment. Chairperson LANGDON asked if West 32nd Place would be eliminated on the most recent proposal? Mr. Goebel stated yes. Chairperson LANGDON asked Mr. Goebel if he preferred access onto Nelson Street? Mr. Goebel answered yes. Chairperson LANGDON asked what could be done for Ms. Bristol? Discussion followed. Chairperson LANGDON asked if Bristol's access to West 32nd Avenue would be closed? Mr. Goebel answered only if Oak Street connects to West 32nd Avenue. Melissa Kovach, 1939 Glen Garry Drive, Lakewood was sworn in•: Ms. Kovach stated she and her husband had signed a contract as well as paid a sum of money as a down payment on Lot 9 in the Distinctive Addresses subdivision. She wanted to know the status of the project, including bringing in utilities. Mr. Gidley stated that no building permit would be issued until utilities are in place and the street has been constructed. Mr. Elken_explained to Ms. Kovach the arrangements made for - installing utilities on the property. Ms. Kovach suggested-that the City not approve the replatting until utilities are installed and restitution made. Chairperson LANGDON stated that he believed that Ms. Kovach would have to pursue this further legally in Civil Court. Planning Commission Minutes Page 7 February 15, 1996 Commissioner CERVENY asked Mr. Elken if he was the one responsible for the improvements to the property on the northern side. Mr. Elken answered yes, he was. He confirmed that the remaining funds were escrowed with the City or with Westridge Sanitation District. Deborah Rosenthal, 3395 Nelson Street was sworn in. Ms. __ Rosenthal requested the installation of a "speed bump". She was concerned about the increased traffic and thought the speed bump would slow traffic. Mr. Goebel stated that the City of Wheat Ridge does not allow the installation of speed-bumps at present. Ms. Rosenthal suggested a stop sign be installed. Discussion followed. Mr. Goebel stated he could recommend to the Chief of Police to increase enforcement in the area. Ms. Rosenthal stated she supported the Oak Street/West 32nd Avenue access which she thought would eliminate a significant amount of traffic on .Nelson Street. Jean Martin, 3375 Nelson Street, was sworn in. Ms. Martin stated that she believed the West 32nd Avenue access would be-- beneficial. Her concern was with excessive traffic in her neighborhood. Commissioner CERVENY moved that-Case No. WS-96-1, an application by Stephen Elken for Applewood Reserve Venture for approval of a resubdivision (as modified) of property known as Distinctive Addresses at Applewood Subdivision located at 10701 West 32nd Avenue be approved for the following reasons: 1. The-property is within the City of Wheat Ridge and all. posting and notification requirements have been met. 2. There is a predominance of neighborhood support at this hearing and at the previous hearing for access directly off of West 32nd Avenue, via Oak Street. 3. There should be a decrease in traffic on Nelson Street. With the following conditions: 1. Modifications that were made here at the public hearing coincide with the revised staff plan, in which Lots 1-4 face- Nelson Street; and Planning Commission Minutes February 15, 1996 2. With the condition that arrangements developer for access onto Oak Street residence at 10825 West 32nd Avenue. the median/island should be revised recommendation. Commissioner Johnson seconded the motion 8. CLOSE THE PIIBLIC HEARING Page 8 be made with the for the Bristol The configuration of according to Staff's Motion carried 5-0. At this time Chairperson LANGDON called a short recess at 8:51 p.m. Meeting reconvened at 9:03 p.m. 9. OLD SIISINESS 1. Commissioner CERVENY suggested that Case No. ZOA-95-6 be reconsidered by Planning Commission. Commissioner CERVENY moved that.a date for public hearing be set for March 21, 1996 for .reconsideration of .Case No. ZOA-95-6. Commissioner CERVENY stated that his concern was that personal property rights could be violated. He gave an example. Commissioner .JOHNSON seconded the motion. Discussion followed. Note: During the discussion period, the secretary experienced recording difficulty, and as a result, there was approximately five to ten minutes of this meeting that was not recorded. Discussion continued. Motion carried 3-2, with Commissioners RASPLICKA and WILLIAMS voting.no. __ 10. NEW BIISINESS 1. Proposed mass rezoning in District I Councilmember CERVENY asked that he be brought up-to-date regarding the proposed rezoning. Mr. Gidley stated that Councilmembers from District I approached him regarding the possibility of down-zoning of R-3 properties generally between. Sheridan Blvd. and Harlan Street, from West 32nd Avenue to somewhere south of West 38th Avenue. There is some further property along West 29th Avenue that may be included. The majority of the area, he added, is zoned R-3 and developed as single-family residential. This item will be discussed by Council at a study session Tuesday, February 20. Discussion followed. Consensus was to wait for further information. Planning Commission Minutes February 15, 1996 Page 9 Louise Turner, Animal Control Commission requested that item #2; under-Discussion and Decision.Items be discussed first. ___ 11. DISCIISSION AND DECISION ITEMS 1. Discuss Proposed Revision to Code of Laws Regarding Pot Belly Pigs Mr. Gidley stated Commission had requested this item be placed on an agenda. He brought Commission up-to-date regarding current law regarding swine and spoke about requests received by the City to allow the Pot Belly Pig as an "exotic animal" in Wheat Ridge. He elaborated, explaining the process. Louise Turner, a member of the Animal Control Commission, stated that the Pot Belly Pig issue had been tabled in January by the Animal Control Commission until March, so that additional information could be provided. 2. Discuss Zoning Ordinance Definition of "Story" and Consider Revision Mr. Gidley reported that_he thought Commissioner ECKHARDT had requested this item be placed on an agenda. Since Commissioner ECKHARDT.could_not be present tonight, consensus was to discuss this item at a meeting when Commissioner ECKHARDT can attend. Mr. Gidley has back-up material which he will provide. 12. COMMITTEE AND DEPARTMENT REPORTS 13. ADJOIIRNMENT There being no further business, meeting adjourned by consensus at 10:12 p.m. ~ ~;_ ~. dra Wiggins~cretary PUBLIC HEARING SPEAKERS' LIST CASE NO: WS-96-1 DATE: February 15, 1996 REQUEST: An application by Stephen Elken for Applewood Reserve Venture for approval of a resubdivision of property known as Distinctive Addresses at Applewood Subdivision located at 10701 West 32nd Avenue. PEAKER NAME, ADDRESS & PHONE (PLEASE PRINT) S Position o Please IN FAVOR Request heck OPPOSED n ~ fat ~ ~ ~ ~.~ a~ o - ~ l.so Sfi 3 X Yli~(.~'~s~o~ Io8,~5GV• 3~a~•e ~~7.5~c~~ZS .2S 0 Si~I ,~ ~'.~ //ASS ~-.~.-syu~,~ ~/x~ .~-, ~ ~, X ~ 7~"- ~, P.O. BOX 658 TEIEP!'~ONF~ ::0„237-E:=a< ThB City Ot 7500 WEST 29TH AVENUE. WHEAT RIDGE, CGLORADO &0033 cwheat Ridge February 20; 1996 Mr. Steve Elken _- __ 28 AR Partners LLC - - 1165.5 Pennsylvania Ave., #103 Denver CO 80210 -- - _ ,. Dear Steve:- Attachedis a copy of a letter sent to Patrick and Paul Koentges. regarding a-.fee in lieu of dedication for-park land. As of this date, this fee_has not yet been paid. Please advise me as to when you expect to make payment. Sincerely, _ Meredith Reckert Planner- MR:slw cc: WS-96-1 Gary Wardle, Director Parks and Recreation ,;f,11~> ~'C77"Y2Q~1r)t1 ('iI1,.. 7500 WEST 29TH AVENUE - P.O BOX 838 The City of WHEAT RIDGE. CO 8003=.0838 (303) 234-5900 cWheat City Admin.. Fax T 2345924 Police Dept Fax # 235-2949 Ridge September 26, 1994 Mr. Patrick Koentges Mr. Paul Koentges Distinctive Addresses, Ltd. 601 S Broadway Denver Co 80209 Dear Patrick and Paul: This letter is in regard to the property which was subdivided pursuant to the Distinctive Addresses at Applewood Subdivision at the northwest corner of West 32nd Avenue and Nelson street. As part of the subdivision process, there was a review by the Parks and Recreation Commission to assess recreation needs created by the residents in the new subdivision. In this case a $75.00 per dwelling unit dedication was required, or $ 2100.00. The payment of this fee is a responsibility of the subdivider or developer- at the time of recordation of the Mylar. According to the City's records, this fee has never been paid. Please be advised that no permits for new dwellings will be issued until this fee is paid in full. If you have any questions, do not hesitate to contact me at 235- 2848. Sincerely, Meredith Reckert Planner MR:slw cc: WS-92-1 Herb Brown r~ ~,-..,.~,,,~•.,~~.,. C'rty of titi'lura ~ ltid~t - r1+.h2:,f }2iJ~a:, ;:C) 1?G033 Attat; A'lrxr~l;tlt &..t-i•rc~ Mcreditlf ~~ C'*r~.l~, No. 303 698 1103 Fep 21.96 09 50 P.Ol J haul: rtfCi 157th the rl['t^;lopers of ttte prc>jcrt kstatvxi as L~i.:tlatrrivr 1Lcltiz'r:sstx at .Applew+xxI/AI,}s}r5vood Rescrvc, attd w[~ i,ave agrcc:! that. l ~%[Ci rtTtri"[•, my xlrrd :sn[1 fettcx t[~ :t11Uty the re~~ra[}ink o€my }~roksezty H'1•scr[: it af7uf,5 the h:t+tf?i ~itlc t+i` 11~e.s! :S•lil: }>lact. 'I'I:c tlcvrlolx~rx tvlll br. respoxtsil?lt: #nt• t8c rr~.g; a:Iht~ actd any other ixc,cs tv!rirh tr!::trs t0 ri.iy raquix[•ntrxtts !'i~r their project, 7 ht:y will fsvt !ttt >es}~onstGle {u[ !eanc(ir:v nr. ~rri~atit+sf a! any y'i!1'S~h } \i'Sl~}T/lUtif ilU/1~1,<: Lltl$ SiChp7f ~7{ tMhf'~K..1[:1~+}i;,1111L8 j(~,(; [,iq li:;r)(7~!ti AN77\+`,•t~iJ,y",~~1{7 ( Vpli J3~ft~' !L•Cii. yivu•['1~'C1,Y, ed~L©~L°F~dC~C~/~ /.t G~~e~fe ~~sG"c6 'IOCn-C'i ~~ d'!` ' , Garr r s'•~e r.T' I~.lr e ~ c Ce ca..~// ~~ ;'ronkFi, Ldli[t // / `3=2F3.5 1Ve1>on / ~~t' G d +t~ i -' 9rr-Ht)11 [,,..'.;trphcn P. l~.lkt,xt ~IT7' OF ~n~1 ~~ GE D FEB ~ "s- 1996 ~~~ PLANNING & DEVELOpMEfl7 eELKCO REAL ESTATE DEVELOPMENT INVESTMENTS MANAGEMENT Apri130, 1996 City of Wheat Ridge 7500 W. 29th Avenue Wheat Ridge, CO 80215 Gentlemen: City Ot Vvheat Ridge Planning & Development 7500 West 29th Avenue Wheat Ridge, Co 80215 Distinctive Addresses at Applewood Applewood Reserve Please use this letter as notification that we aze requesting a withdrawal of our application for a minor re-plat submitted to modify the entrance off 32nd Avenue instead of Nelson. We will proceed with the layout previously approved and recorded. Very truly yours, APPI,~EWOOD RESERVE JOINT VENTURE OA021 6£~LOd46-80-SO F. Elken cc: Patrick Koentges David Oppenheim OS-08-96P01~k0 RCVD 1165 S. Pennsylvania St. Denver, CO 80210-1530 303 778-0380 FAX 303 744-1174 MEMORANDUM A roved Date TO: Meredith Reckert, Planner R FROM: Steve Nguyen, Traffic Engineer DATE: December 4, 1996 SUBJECT: Vicinity of West 46th Avenue and Tabor Street ^S..p.' 4^ 1:.. ~~~ .. ....q r~ . c..~, i ; ~~ a .~-~; 4! ~ ~ i.~~U ~;t ! `~ 't ~HV ~] `i.~:p`_ .~.s~~Vi:Ltli~klEt~i €~ti41^ ~'" l This is a response to your memo to Bob Goebel, dated November 19,1996 referencing the above matter. Currently Tabor Street from 44th Avenue to I-70 is not in the five-year capital improvement program. The Public Works Departrnent has no plan to widen this street in the near future, however I would like to offer some comments: • The Public Works Department feels that if and when Tabor Street is reconstructed, it will be built with a 3-lane section; two through lanes with a left turn lane. The three-lane section will be narrowed down to a 21ane section when it reaches the Tabor Bridge at I-70. There is no plan to widen this bridge. • In reference to intersection improvements at 46th Avenue and Tabor, a left turn lane is anticipated on Tabor when the widening takes place,. • At the intersection of 44th and Tabor, a signal should only be constructed when it is warranted. It is currently unwarranted. Left and right turn lanes are anticipated on Tabor at this intersection. A left turn lane on 44th Avenue can be planned for if the demand volume indicates that there is a need for it. • The Public Works Department is workirig on the signage issues that you mention in your memo. The Public Works Department is installing a dead end sign for southbound Swadley at 46th Avenue. I am working with CDOT to come up with guidance signs so that truck traffic traveling on the I-70 South Frontage Road between Swadley and Miller can be minimized or eliminated. • In reference to the connection of 46th and Simms Street, even though there is established right-of- way, Public works Department sees no advantage in the connection in terms of traffic cuculation. This would create a neighborhood traffic problem on Simms Street. Having a connection to 44th Avenue might generate safety and operational problems. 44th Avenue does not have any left turn lanes to side streets which creates the potential for rear end accidents . December 4, 1996 Memorandum Vicinity of W. 46th Ave and Tabor Street Page 2 Side street traffic delay at 44th Avenue would be much greater than at 46th and Tabor since the volume at 44th Avenue is much greater. The traffic volume at Tabor and 46th is 2100 and 550 vehicles per day respectively. These volumes are low compared to 44th Avenue where its volume is about 9800 vehicles per day. The current volume at 46th and Tabor does not indicate that the intersection is being congested. This may cieate more delays at Tabor and 44th ,however, it is much more desirable from an operational and safety standpoint to concentrate the movements to an intersection which one day may be controlled by a signal. It will also eliminates "cut thru" traffic attempting to bypass 44th and Tabor. The remaining undeveloped area. in the immediate surrounding area will probably not generate significant traffic volume to overload the intersection of 46th and Tabor even with full build-out. As the azea north of I-70 develops, we may see a signal warrant develop at 44th and Tabor. Currently, 44th Avenue traverses across the city connecting Golden and Denver. With this characteristic, side street connections and other access points to 44th Avenue should be voided as much as possible to minimize the impact on 44th Avenue. I hope the above comments provide you some insight for planning purposes. Please see me if you need additional information or to discuss the issue in greater detail. CC: Greg Knudsen ~~~~--~ y3~ ~ ~°~~ ~~ -~ - C~~~ ~ ~-~ ~ .'~ ~p~~~ Q!.t~''`' G~ n ^~ R&R Engineers-Surve}'m s~ Inc. $uda•! P.E. 303 1792-2846 • FAX ~ ~ooa ~ O 80112 - ' 10 Inverness Drive East, k229 Eng __