01-25-2007 FORMAL AMENDMENT NUMBER ONE TO THE VILLAGE (AT AVON) PUD GUIDEEAGLE COUNTY, CO
200)05091
.i~ e II /2007
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FORMAL AMENDMENT NUMBER ONE
TO
THE VILLAGE (AT AVON) PUD GUIDE
DATED OCTOBER 13, 1998
This FORMAL AMENDMENT NUMBER ONE TO THE VILLAGE (AT AVON) PUD
GUIDE DATED OCTOBER 13, 1998 (this "Formal Amendment No. 1"), is made as of this
; 5~-day of January, 2007, by and between TRAER CREEK LLC, a Colorado limited liability
company ("Traer"), and the TOWN OF AVON, a municipal corporation of the State of
Colorado (the "Town").
RECITALS
A. The Town previously approved The Village (at Avon) PUD Guide dated as of
October 13, 1998, and recorded in the Eagle County, Colorado, real property records at
Reception No. 677744 on November 25, 1998 (the "PUD Guide"). The PUD Guide pertains to
and, together with the Village (at Avon) P.U.D. Development/Sketch Plan dated June 1988, as
amended (as defined in the PUD Guide, the "PUD Master Plan"), constitutes the approved
zoning for certain real property generally known as The Village (at Avon) and more particularly
described in Exhibit A attached to the PUD Guide (the "Property").
B. When the PUD Guide was originally approved, the Property was owned by EMD
LIMITED LIABILITY COMPANY, a Colorado limited liability company ("EMD"), PVRT
NOTT I LLC, PVRT NOTT II LLC and PVRT NOTT III LLC (collectively, the "Original
Parties"), each of which, collectively, constituted the "Owner" as that term was used in the PUD
Guide. Subsequently, the other entities comprising the original "Owner" were merged into
EMD, which then became the sole "Owner" as that term is used in the PUD Guide.
C. EMD subsequently conveyed the Property, excluding Planning Area M, to Traer.
Pursuant to Section H. L(b) of the PUD Guide, EMD has specifically granted to Traer, in writing,
the right to amend the PUD Guide as to all of the Property except Planning Area M, with respect
to which EMD retains the right to amend the PUD Guide.
D. Pursuant to its application to the Town therefor, Traer has requested that the
Town take action to approve this Formal Amendment No. 1, together with an amendment to the
PUD Master Plan for the purpose of relocating Planning Area G, and the Town has approved this
Formal Amendment No. 1 and the related amendment to the PUD Master Plan pursuant to
Ordinance Nos. 06-16 and 06-17, respectively. Because the foregoing actions do not affect
Planning Area M, EMD is not a party to this Formal Amendment No. 1.
6969727
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, the Town has approved, and
Traer hereby consents, to the referenced amendment to the PUD Master Plan and the following
amendments to the PUD Guide:
1. Defined Terms. Unless otherwise defined in this Formal Amendment No. 1,
capitalized terms used herein shall have the meanings ascribed to them in the PUD Guide.
2. Amendments. The PUD Guide is hereby modified as follows:
Subsection (b) (Allowed Uses) of Section 11 (Planning Areas N - Community
Park and P1-P6 - Parkland) is amended and restated to read in its entirety as follows:
(b) Allowed Uses:
(i) Equestrian, pedestrian and bicycle trails.
(ii) Landscape improvements.
(iii) Indoor and outdoor recreation facilities.
(iv) Lakes, ponds, reservoirs and irrigation ditches.
(v) Parks, picnic facilities and temporary entertainment for special
events.
(vi) Public or private roads and utilities including but not limited to
utility improvements, lines and mains, facilities, services and buildings.
(vii) Within Tract E, Final Plat, The Village At Avon Filing 3, and
Tract F, Final Plat, The Village At Avon Filing 3 as amended, in accordance with
and subject to the terms and conditions of Ordinance No. 06-16, emergency
services facilities such as ambulance, fire protection and similar uses and services
as determined by the Director of Community Development.
3. Effect of Amendment. Except as expressly modified by this Formal Amendment
No. 1, the PUD Guide is unmodified, and is hereby ratified and affirmed, and shall remain in full
force and effect in accordance with its terms. If there is any inconsistency between the terms of
the PUD Guide and the terms of this Formal Amendment No. 1, the provisions of this Formal
Amendment No. 1 shall govern and control.
4. Vesting of Property Rights. In accordance with the terms and conditions of
Section H. L(c) of the PUD Guide: (i) this Formal Amendment No. 1 and the associated
modifications to the PUD Master Plan shall create vested property rights for the duration of the
term set forth in Section 1.3 of the Annexation and Development Agreement; (ii) this Formal
Amendment No. 1 and the associated modifications to the PUD Master Plan shall not divest,
limit or otherwise impair any vested property right originally created pursuant to Section A.1 of
696972.7 2
the PUD Guide; (iii) Traer, as landowner, shall cause publication of the notice described in
Section 24-68-103(1), C.R.S., as amended, and Section 17.14.050 of the Municipal Code; and
(iv) pursuant to Section 17.14.050 of the Municipal Code:
Approval of this plan constitutes a vested property right pursuant to Article
68 of Title 24, C.R.S., as amended.
5. Governing Law. This Formal Amendment No. 1 shall be governed by and
construed in accordance with the laws of the State of Colorado.
IN WITNESS WHEREOF, the Town and Traer have executed this Formal Amendment
No. 1 as of the day and year first above set forth.
THE TOWN:
TOWN OF AVON, a municipal corporation of the
State of rado
Name: Ronald C. Wolfe
Title: Mayor
Approved as to legal form by:
4',
Na e: John W. Dunn
Titl Town Attorney
STATE OF COLORADO
ss:
COUNTY OF &79
-t1+
The oregoing instrument was acknowledged before me this Z) day of
o1llLkc~ ' 2007, by ~~jcti.l d C . ivcsL-~~ as Mayor of the Town
o Avo, a unicipal corporation of the State of Color do.
hand and official seal.
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696972.7 3
OWNER:
TRAER CREEK LLC, a Colorado limited liability
company
By:
Nam . agnus L' dholm
Title: Manager
STATE OF COLORADO )
ss:
COUNTY OF )
The foregoing instrument was acknowledged before me this 3Q-'-,,-day of
2007, by Magnus Lindholm as Manager of Traer Creek LLC, a Colorado
limited liability c any.
it ress my hand and official seal.
My commission expires:
696972.7 4