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HomeMy WebLinkAbout1.04 Development PhasingVII. DEVELOPMENT PHASING Aspen Glen will be developed in multiple phases. It is understood that the date for completion of Phase I as set forth below is mandatory, while the dates referenced in connection with other phases, relate only to the date of commencement of construction of such phases. One of the first considerations in determining what parcels come on line first concerns the location of the utilities and the extension of service lines. Another consideration in determining what areas will be included in a particular phase is the available product type. We want to have as diverse a range of housing product types as possible in each phase as well as having a like number of premier lots available; i.e. river front lots, fairway front lots, etc. Phase I of the proposed development in the acquisition of fee simple title to the properties (the "Properties ") that Aspen Glen, or any successor to or assignee of Aspen Glen (collectively, "Purchaser "), is to acquire from The Sievers Ranch and Development Company ( "Sievers ") and The Anschutz Investment Company ( "Anschutz "). Such acquisitions are to effected pursuant to the terms of: (a) a Purchase and Sale Agreement between Aspen Glen and Anschutz dated October 3, 1991, as amended from time to time (the "Anschutz Contract "), and (b) an Option Agreement between Aspen Glen and Sievers dated November 5, 1991, as amended from time to time (the "Sievers Contract "). The closing of the purchase and sale transaction contemplated by'the Sievers Contract is to occur at or before 5:00 p.m. on December 1, 1992, in accordance with the terms of the Sievers Contract. If the Sievers closing does not occur, as evidenced by either the failure to record the deeds conveying the Sievers Property to Purchaser in the Garfield County real estate records or the failure to deliver such deeds to the Garfield County Clerk and Recorded for recording at or before 5:00 p.m. on December 1, 1992, the attorney then representing Sievers in connection with said transaction thereafter may execute and deliver to the County Attorney for Garfield County an original, notarized affidavit (the "Sievers" Affidavit ") certifying that the purchase and sale transaction did not close as previously described, and requesting that the County Commissioners revoke this PUD. The closing of the purchase and sale transaction contemplated by the Anschutz' Contract is to occur in accordance with the terms of the Anschutz Contract. If the Anschutz closing does not occur, as evidenced by either the failure to record the deeds conveying the Anschutz Property to Purchaser in the Garfield County real estate records or the failure to deliver such deeds to the Garfield County Clerk and Recorder for recording in accordance with the terms of the Anschutz Contract, the attorney then representing Anschutz in connection with said transaction thereafter may execute and deliver to the County Attorney for Garfield County an original, notarized -70- affidavit (the " Anschutz Affidavit ") certifying that the purchase and sale transaction did not close as previously described, and requesting that the County Commissioners revoke this PUD. If these closing have occurred on or before 5:00 p.m. on December 1, 1992, the attorneys then representing Purchaser may execute and deliver to the County Attorney an original, notarized affidavit (the "Purchaser's Affidavit ") certifying that the purchase and sale transactions have closed, and shall attach as evidence of such closing copies of the deeds conveying the Properties to Purchaser. If either the Sievers Affidavit or the Anschutz Affidavit is received in accordance with the foregoing, the County Commissioners, at their next regularly scheduled meeting after delivery of the Sievers Affidavit or the Anschutz Affidavit, as applicable, shall pass a resolution revoking this PUD in its entirety, including without limitation any and all public access easements and open space designations contemplated by this PUD and shall reinstate the current A /R /RD zoning for the Properties, all as authorized by Section 4.09.02 of the Garfield County Zoning Resolution. If Purchaser's Affidavit has been received by the County Attorney prior to 5:00 p.m. on December 1, 1992, or if either the Sievers Affidavit or the Anschutz Affidavit has not been received by the County Attorney prior to 5:00 p.m. on December 31, 1992, the closings of the purchase and sale transactions contemplated by the Anschutz Contract and the Sievers Contract shall conclusively be deemed to have occurred, and Phase I shall be deemed successfully completed. In any event this Phase I must be completed in accordance with the previous sentence on or prior to December 31, 1992. In submitting this PUD, Aspen Glen acknowledges that any preliminary plan submitted by it prior to the completion of this Phase I shall provide that any preliminary plan approval granted for The Aspen Glen Club shall be revoked automatically should the PUD be revoked pursuant to the foregoing procedures. Phase II will be the construction of the back nine of the 18 -hole golf course located on the east side of the Roaring Fork River. Phase II is to begin construction by May 15, 1993. hase II -A will include: the construction of the front nine of the 18 -hole golf course, the golf clubhouse, the golf maintenance and security station including the dedication of a fire station site, the river parks abutting golf holes #8 and #9, and the bridge crossing the Roaring Fork River. Phase II -A is to begin construction by August 15, 1993. Phase III will include the main entry off of Highway 82, the wastewater treatment facility, the public access river easement to the Roaring Fork River; the private river -71- park east of the wastewater treatment facility and two residential development parcels. These development parcels will include the following housing product types: 1/2 Acre Homesites 3/4 Acre Homesites Total Number of Dwelling Units in Phase III ///if Phase III is to begin construction by August 15, 1993 -' 42 DU's 34 DU's 76 DU's Phase IV includes one residential development parcel and the following housing product types: Duplex Homesites (30 lots) 60 DU's 1/2 Acre Homesites 43 DU's Total Number of Dwelling Units In Phase IV s 103 DU's Phase IV is to begin construction by February 15, 1994. — Phase V consists of the Equestrian Center on the east side of Highway 82, two residential development parcels with the following housing product types: Duplex Homesites (15 Iots) 1/2 Acre Homesites 3/4 Acre Homesites Total Number of Dwelling Units in P base V J J Phase V is to begin construction by August 15, I994.— 30 DU's 13 DU's 10 DU's 53 DU's Phase V -A is to include the river park and private trail system on the east side of the Roaring Fork River. This phase is to begin March 15, 1995. Phase VI is the first residential phase to be constructed on the west side of the Roaring Fork River. This phase consists of the following housing product types: 1/2 Acre Homesites 1 Acre Homesites Total Number of Dwelling Unites in Phase VI ?J Phase VI is to begin construction by Iyl eFr 15, 996 45 DU's 7 DU's 52 DU's Phase VII includes one residential development parcel with the following housing product types: -72- 1/2 Acre Homesites 1 Acre Homesites Total Number of Dwelling Units in Phase VII Phase VII is to begin construction by August 15, 1996. 27 DU's 24 DU's 51 DU's Phase VIII includes three residential development parcels with the following housing product types: 1/2 Acre Homesites - c —) 7 Phase VIII is to begin construction by March 15, 1997. 61 DU's Phase IX includes all the land located on the west side of County Road 109 and includes the Natural Park and Wildlife Easement, the Exercise Parcours as well as the following housing types: 2 -10 Acre Estate Homesites Phase IX is to begin construction by March 15, 1998. 31 DU's Phase X includes the remaining river park on the west side of the Roaring Fork River as well as one residential development parcel and the following housing product types. 1/4 Acre Homesites Phase X is to begin construction by August 15, 1998. 58 DU's Phase XI is the final phase for The Aspen Glen Club. This phase consists of two residential development parcels and the following housing product type: Club Villas 158 DU's 3 2000 Phase XI is to begin construction by March 15, 1999. Commencement of construction on Phases II through XI is not required to be sequential, as Iong as all requirements for commencement of a particular Phase are met.