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HomeMy WebLinkAboutECHDA22-09 Colorado Mtn. CollegeFINAL DRAFT SITE LEASE AND DEVELOPMENT AGREEMENT DATED � , 2022 BETWEEN COLORADO MOUNTAIN COLLEGE, AS LESSOR AND EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY, AS LESSEE This SITE LEASE AND DEVELOPMENT AGREEMENT, dated Z- , 2022 (the "Agreement"), is by and between Colorado Mountain College, a locki college district duly organized and validly existing under the Constitution and laws of the State of Colorado (the "College"), as lessor, and Eagle County Housing and Development Authority, a (the "Authority"), as lessee. RECITALS 1. The College has been duly organized and is validly existing as a local college district under the Constitution and laws of the State of Colorado. The Board of Trustees of the College has the power pursuant to C.R.S. §23-71-122(1)(c) to lease or rent real property on such terms as the Board sees fit for any school sites, buildings, or structures or for any school purpose authorized by law. 2. The Authority was formed to address the shortage of decent, safe, and sanitary dwelling accommodations in Eagle County and acts as a statutory housing authority, a body corporate and politic, pursuant to C.R.S. §29-4-501 et. seq. 3. The College is designing and constructing an attainable housing facility on its Edwards campus to provide independent residential units for students (the "CMC Facility"). 4. The Authority and the College share common goals relating to the housing of County workers and College students, and in furtherance of these goals have agreed to cooperate with each other in funding and developing another housing facility on the College's Edwards campus that would house eligible employees and students (the "Project"). 5. To effectuate the Project, the Authority and the College intend to enter into this Agreement for purposes of (1) creating a site lease whereby the College will lease to the Authority land that is more particularly described or depicted on Exhibit A (the "Site"); (2) providing for funding by the Authority to cover the costs of acquiring, constructing and otherwise improving the new housing facility and associated improvements on the Site (the "Building"); (3) agreeing on the terms, conditions and responsibilities, and providing construction oversight, relative to the design and construction phase of the Building; (4) specifying the manner in which tenants will be selected to occupy the Building pursuant to individual lease agreements with the Authority, and identifying other terms to be included in a property management agreement among the Authority and the College; (5) granting to the College an option to purchase the Building for a price to be determined as set forth herein; and (6) setting forth such other terms and conditions with respect to the Building. NOW, THEREFORE, for and in consideration of the mutual promises and covenants herein contained, the parties hereto agree as follows: 2 ARTICLE 1 THE SITE LEASE 1.1. Site Lease and Term. (a) The College, as owner in fee title of the Site, hereby demises and leases to the Authority and the Authority hereby leases from the College, on the terms and conditions hereinafter set forth, the premises described on Exhibit A and referred to herein as the Site. For purposes of the real property lease granted to the Authority in this Article 1, the Site also is referred to as the "Leased Property." (b) The term of the lease ("Lease Term") shall commence on the date hereof and shall end on June 30, 2052 (the "Lease Termination Date") unless such term is sooner terminated as hereinafter provided. If, prior to the Lease Termination Date, the Authority has transferred and conveyed the Authority's leasehold interests in all of the Leased Property as a result of the College's exercise of its option rights pursuant to Article II of this Agreement, then the Lease Term shall end in connection with such transfer and conveyance. (c) At the end of the Lease Term, all right, title, and interest of the Authority, or any sublessee or assignee, in and to the Leased Property, shall terminate. Upon such termination, the Authority and any sublessee or assignee shall execute and deliver to the College any necessary documents releasing, assigning, transferring, and conveying the Authority's interests in the Leased Property, and the Authority agrees to quit and surrender all of the Leased Property, and any permanent improvements and structures existing upon the Leased Property at the time of termination shall remain thereon. 1.2. Rental. The Authority has paid to the College and the College hereby acknowledges receipt from the Authority as and for rental hereunder, paid in advance, the sum of Ten Dollars ($10.00), as and for all rent due hereunder, and other good and valuable consideration, the receipt and the sufficiency of which are hereby acknowledged. 1.3. Purpose and Use of Premises. The Authority shall use the Leased Property solely for the purpose of leasing residential units within the Building to Eligible Tenants (as defined in Section 1.4 below). 1.4. Access Easement. The College hereby grants to the Authority a non-exclusive easement over, above and across the College's real property so to allow the Authority's employees, agents, officers, independent contractors, tenants, and invitees to access the Building. 1.5. Eligible Tenants. (a) The parties agree that the Building will provide opportunities for rental housing at controlled rates to households meeting the eligibility requirements set forth in this Section. Such requirements shall be included in all property management agreements that provide rental and management services to the Building. 3 (b) Rental units will be offered to households that include (1) an individual directly employed by Eagle County or any other public employer within Eagle County ("Eagle County Tenants"), and (2) an individual that is or will be enrolled as a College student at Colorado Mountain College or are or will be employed by the College working for a minimum of 16 hours per week within Eagle County ("CMC Tenants"). Subject to the eligibility requirements in the foregoing sentence, units will be rented on an alternating basis, with the first unit to be rented to an Eagle County Tenant and the second unit, comparable in size to the unit previously rented (if available), to be rented to a CMC Tenant. All vacant units, whether during initial lease -up or otherwise, will be rented on an alternating basis in this manner. If either category of tenants has no waitlisted applicants at the time of a vacancy, the vacant unit will be rented to applicants on the waitlist of the other category of eligible tenants. If neither category of tenants has a waitlist at the time of a vacancy, the vacant unit or units will be available to other eligible households as defined in the Eagle County Housing Guidelines. (c) All tenants must meet eligibility guidelines as set forth in Section 4.0.1 of the Eagle County Affordable Housing Guidelines: Administrative Procedures, and as may be subsequently amended and must otherwise satisfy credit, background, and other qualifications to be determined by the Building property manager, all in accordance with applicable federal, state and local laws. 1.6. Assignment, Subletting, Conveyancing and Encumbering. Except as otherwise described herein with respect to future financings and tenant leasing, the Authority shall not sublease, assign, convey or encumber, in whole or in part, any portion of this Agreement, the Leased Property or the Site, or any part thereof, to any other person or entity without the prior written consent of the College, which consent may be withheld in the discretion of the College. 1.7. Quiet Enjoyment. At all times during the Lease Term the Authority shall peaceably and quietly have, hold, and enjoy the Leased Property, subject to the provisions of this Agreement. 1.8. Maintenance; Insurance. (a) The Authority agrees to maintain, preserve, and keep the Leased Property in good repair, working order and condition, and will from time to time make or cause to be made all necessary and proper repairs. (b) The Authority shall obtain and keep in force, (i) commercial general liability insurance against claims for personal injury, death, or damage to property of others occurring on or in the Leased Property in an amount not less than the limitations provided in the Colorado Governmental Immunity Act (Article 10 of Title 24, Colorado Revised Statutes, as amended), and (ii) property insurance in an amount not less than the full replacement value of the Building and other improvements and structures located on the Leased Property. All such insurance shall name the College as an additional insured or loss payee. The College and the Authority shall waive any rights of subrogation with respect to the Authority and the College, and their trustees, directors, officers, agents, and employees, while acting within the scope of 4 their employment and each such insurance policy shall contain such a waiver of subrogation by the issuer of such policy. 1.9. Hazardous Substances. Except for customary materials necessary for operation, cleaning, and maintenance of the Leased Property, none of the College, the Authority, or any sublessee, purchaser, or assignee of the Leased Property from the Authority shall cause or permit any Hazardous Substance to be brought upon, generated at, stored, or kept or used in or about the Leased Property without prior written notice to the College. 1.10. Access. The College shall have full rights of ingress and egress to the Site and the Building. The Authority agrees that the College and its duly authorized agents shall have the right at all reasonable times to examine the books, records, reports, and other papers of the Authority with respect to the Building. ARTICLE 11 PURCHASE OPTION 2.1 Option to Purchase. As additional consideration for the College to lease the Site to the Authority, the Authority hereby grants to the College the exclusive, irrevocable right and option ("Option") to purchase the Building and all real or personal property utilized in connection with the Building and the Site ("Option Property"). The Option is subject to the terms, conditions, and requirements of this Article II. 2.2 Option Purchase Price. The College may exercise the Option at any time during the Lease Term by delivering 90 days' prior written notice of such election to Authority. The purchase price payable by the College upon exercise of its option shall be determined as follows: (a) At any time prior to December 31, 2024, the purchase price will be equal to the total cost of constructing the Building, including direct and soft costs (the "Initial Cost"). For each subsequent calendar year, beginning with the calendar year ending December 31, 2025, the purchase price will decrease by 1130`h of the Initial Cost and will increase by Undepreciated Capital Costs. "Undepreciated Capital Costs" shall equal the total costs of capital improvements to the Building less any depreciation in value of such improvements, calculated on a straight-line basis over the useful life of such improvements. (b) The purchase price shall be payable at closing in cash or immediately available funds. (c) Upon payment of the purchase price, the College shall be entitled to all of the Authority's right, title and interest to the Building, and all permanent fixtures, appliances, and improvements included within the Building or the Building. Those permanent fixtures, appliances and improvements shall be conveyed free and clear of all taxes, liens, and encumbrances. 5 2.3 Due Diligence Investigation. (a) The Authority agrees to furnish to the College within fifteen (15) business days after exercise of the Option the following due diligence materials and such other documents reasonably requested by the College and which are in Authority's possession: • Any architectural plans, studies and specifications that may have been developed for the Building and surrounding premises. �ompany'), Title commitment issued by a title company selected by the College (the "Title at the Authority's expense, including legible copies of all covenants, conditions, restrictions and easements, and documents (recorded or unrecorded) affecting title to or use of the Building and a current survey of the Building. • A current standard ALTA survey of the Building, prepared at the College's request and expense, containing such information and detail as are sufficient to obtain extended title insurance coverage over survey exceptions and otherwise reasonably acceptable to the College, prepared by a Colorado registered land surveyor. • All studies and reports in the possession of Authority relating to environmental status, soil tests, and any other information regarding the environmental and soil conditions. • Summary and copies of all service contracts and management agreements, warranties, guarantees, licenses, permits, certificates of occupancy and building inspection approvals. • An inventory of all personal property that is included in the sale. • A list of any pending litigation relating to the Building; and • A summary of the existing fire, extended risk, liability, and other insurance policies held by Authority with respect to the Building, and a property and liability insurance loss report. (b) The College shall be granted sixty (60) days from exercising the Option to evaluate and inspect the Building and verify to the College's satisfaction, in its sole discretion, that all aspects of the Building, including its condition, are acceptable (the "Inspection Period"). If the College determines after the Inspection Period to proceed with the acquisition of the Building after the Inspection Period, the closing and date for delivery of deed (the" Closing") shall be fifteen (15) days after the expiration of the Inspection Period, unless the parties agree to expedite the Closing (the "Closing Date"). The hour and place of closing shall be established by mutual agreement of the parties. 6 2.4 Conveyance of Title. (a) Subject to payment or tender as above provided and compliance by the College with the notice provisions hereof, on the Closing Date, the Authority shall convey to the College marketable fee simple absolute title to the Building and all of its interests appurtenant thereto, subject only to: (a) taxes, liens and encumbrances existing as of the date or this Agreement or as otherwise agreed to by the College (the "Permitted Exceptions"); and (b) the remaining term of the Authority's various leases for the Building. Such conveyance shall be by special warranty deed, which shall be subject to the review and approval of both the Authority and the College. (b) The special warranty deed shall include a deed restriction as follows: • All tenants shall meet income eligibility requirements established by Eagle County Affordable Housing Guidelines Eagle County, and • All tenants shall meet one of the two following additional criteria: o Are employed in Eagle County at least 16 hours per week, or o Are or will be enrolled or an employee at Colorado Mountain College during the lease period. 2.5 Title Insurance. The Authority will deliver the title insurance policy to the College after closing on the Option and pay the premium thereon. After Closing, the Authority shall obtain and deliver to the College, at the Authority's expense, a title insurance policy for the Option Property in the amount of the Option purchase price showing fee simple absolute title being vested in the College, subject only to Permitted Exceptions. 2.6 Defect in Title. Except as stated in this Paragraph 12, if title to the Building is not merchantable and written notice of defect(s) is given by the College or the College's agent to Authority or Authority's agent on or before date of closing, Authority shall use reasonable effort to correct said defect(s) prior to date of closing. If Authority is unable to correct said defect(s) on or before date of closing, at Authority's option and upon written notice to the College or the College's agent on or before date of closing, the date of closing shall be extended thirty days for the purpose of correcting said defect(s). 2.7 Default by Authority. If the Closing fails to occur by reason of the Authority's improper failure or refusal to perform its obligations hereunder and same is not cured within seven (7) days after the Authority's receipt of written notice thereof from the College, then the College shall be entitled as its sole remedy either (a) to terminate its obligations to purchase the Option Property, or (b) to seek specific performance of the Authority's obligation to sell the Building to the College. 7 ARTICLE III SITE DEVELOPMENT AND PROPERTY MANAGEMENT 3.1 Design and Construction of Building. The parties agree to develop, finance, and construct the Building, using substantially similar design and construction specifications that have been utilized by the College for its student housing facility under construction as of the date of this Agreement. The Building will include approximately thirty-six (36) units — twelve (12) 2- bedroom and 1-bathroom units of approximately 750 square feet each and twenty-four (24) studio units of approximately 375 square feet each, and three laundry rooms of approximately 100 square feet each, totaling approximately 23,103 gross square feet. 3.2 Existing Contracts. The College will lead the process and be the contracting party and primary contact for the architect, owner's representative, and general contractor as further described below: (a) The College has entered into an Architect Agreement with Anderson Mason Dale dated August 31, 2021, that provides for the design of the CMC Facility ("AMD Agreement"). Also on that date, The College entered into a Project Management Agreement with Dynamic Program Management, LLC for owner's representative services ("DPM Agreement"). The College has also entered into a Construction Manager General Contractor Agreement dated April 27, 2022, that provides for the construction of the CMC Facility ("Shaw Agreement"). Together the AMD Agreement, DPM Agreement and the Shaw Agreement shall be defined as the "Contracts". (b) The Authority has reviewed and agrees to the terms and conditions of the Contracts and agrees to have the Building designed and constructed pursuant to such Contracts. 3.3 Amendment to Existing Contracts. (a) The AMD Agreement shall be amended to include design and construction administration services for the Building. The Authority agrees that the Building design shall be identical, to the extent practicable, to the CMC Building. (b) The Shaw Agreement shall be amended to include construction services for the Building. (c) The DPM Agreement shall be amended to include additional owner representative services for the Building. (d) The Amendments to the Contracts shall be signed by the College, for the benefit of the Authority and shall also be acknowledged by the Authority. They will provide for the location, design, construction and equipping of the Building pursuant to contract terms that are in form and substance mutually satisfactory to the Authority and the College, including without limitation the overall schedule, gross maximum price, and any change orders relating to overall budget and timing. With respect to all other issues with the design which arise as part of 8 the construction process, the change order approval process specified in the contracts will be utilized. (e) The Contracts, once amendments thereto are executed by the College and acknowledged by the Authority, shall not be modified without the prior written notice to and approval of both the College and the Authority in any event or situation involving (i) an overall increase in the gross maximum price, (ii) overall increase of the fixed limit of construction, (iii) an extension of the contract time, or (iii) such other modifications as the College may submit to the Authority. 3.4 Financing. The parties represent that each has or shall have adequate design and construction financing capacity for the obligations described within the Contracts. The Authority will self -fund the design and construction of the Building. However, the Authority reserves the right to use its ownership of the Building and its Site leasehold interest as collateral for future debt as it deems appropriate. Any such debt would be subordinate to the College's Option rights to purchase the Building as set forth herein. (a) The Authority agrees that it will be solely responsible, subject to its rights to approve design and construction administration as provided herein, for the payment of all fees, expenses and financial obligations relating to the Building. The Authority will be designated in the amendments to the design and construction contract as the sole obligor with respect to such payment obligations. 3.5 Land Use Entitlements. The College will lead the process and be the primary contact for all land use entitlements and permitting, including any location and extent and section 1041 requirements. The Authority will assist in obtaining appropriate land use approvals, including assistance with a finding of no significant impact in lieu of a formal 1041 permit. The County and the Authority acknowledge and agree that the College is subject to C.R.S. §23-71- 122(v)(I) and all design and construction of the Project shall be in conformance with that section through the Division of Fire Prevention and Control. 3.6 Agent. The parties hereby designate the College to act as the agent for the management of the Project. DPM will package and review all invoices from contractors and send to the College once the expenditures are approved. The College will forward such invoices to the Authority who will pay the expenditures directly to the contractors. It is understood and agreed that: (1) the College shall be an agent only for this limited purpose and shall not be a general agent for the Authority; (2) the College shall not have the authority to bind, obligate, make representations or enter into agreements on behalf of the Authority unless otherwise allowed herein; and (3) the College shall not be obligated to pay any Project costs on behalf of the Authority and the Authority shall pay for its obligations under the Contracts directly to the party providing the services. 3.7 Construction. (a) The Shaw Agreement has documented a guaranteed maximum price ("GMP") and Shaw has issued its Bid Package. It is anticipated that the Bid Package will be 01 completed and approved on or before June 10, 2022. The parties will work with Shaw to revise the GMP and fixed limit of construction due to the construction of the Building, which shall be documented by an amendment to the Shaw Agreement. (b) The Project shall be constructed according to the plans and specifications approved by the College pursuant to the Contracts. (c) The College shall observe, test, and inspect all construction work pursuant to the Contracts. Should the Authority desire to have any separate design, engineering, materials testing, or owner's rep firm observe, test, or inspect the Building, the Authority may do so at its own expense. (d) Any change orders attributable to one party shall be approved by and paid for by (or credited to) that party. Any change orders affecting both parties shall be mutually approved and agreed by both parties and shall be paid for by (or credited to) each party proportionately. (e) Any cost overrun attributable to one party shall be paid for by that party. Any cost overruns affecting more than one party shall be approved and agreed upon by both parties and shall be paid for by (or credited to) each party proportionately. 3.8 Property Management. Following substantial completion of the Building, it is anticipated that the Authority will provide property management services for both the Building, upon terms mutually agreeable to both parties, and to the CMC Building, upon terms satisfactory to the College. (a) The Authority will advertise and show the units for rent, take applications, execute leases, collect, deposit, and disburse security deposits, provide emergency contact numbers for repairs, handle tenant complaints, inspect units at move -in and move -out for tenants and any other services defined in the Property Management Agreement for both buildings and will account separately for each building. The Authority will also collect rent, pay utilities, vendors, and any other necessary and appropriate charges. (b) The Parties will set aside funds in amounts to be mutually agreed upon for future maintenance, repairs, or replacement of the buildings as a reserve fund. (c) If the parties cannot mutually agree to a property management agreement and associated management fees, the parties will use best efforts to jointly hire a third -party property management company for both buildings. However, either party will be allowed to independently hire a property management company for its respective building. 3.9 College's Insurance. (a) The College shall maintain builders risk insurance with limits equal to the completed value of the Building. Coverage shall be written on an all risk, replacement cost basis. CMC, the Authority, contractor, and sub -contractors shall be named insureds under the policy. Policy shall remain in force until acceptance of the Building by the Authority. 10 (b) The College shall keep in force commercial general liability insurance against claims for personal injury, death, or damage to property of others in an amount not less than the limitations provided in the Colorado Governmental Immunity Act (Article 10 of Title 24, Colorado Revised Statutes, as amended). All such insurance shall name the Authority as an additional insured. The College and the Authority shall waive any rights of subrogation with respect to the Authority and the College, and their trustees, directors, officers, agents, and employees, while acting within the scope of their employment and each such insurance policy shall contain such a waiver of subrogation by the issuer of such policy. ARTICLE IV DEFAULT AND TERMINATION 4.1 Termination by the College. This Agreement, including the Site Lease, shall be subject to termination by the College in the event of any one or more of the following events: (a) The default by the Authority in the performance of any of the terms, covenants or conditions of this Agreement, and the failure of the Authority to remedy. or undertake to remedy, such default for a period of 45 days after receipt of notice from the College to remedy the same. (b) Damage to or destruction of all or a material part of the Building that is not repaired in a timely fashion. 4.2 Termination by the Authority. This Agreement shall be subject to termination by the Authority in the event of any one or more of the following events: (a) The default by the College in the performance of any of the terms, covenants or conditions of this Agreement, and the failure of the College to remedy, or undertake to remedy, such default for a period of 45 days after receipt of notice from the County to remedy the same. 4.3 Notice of Default. Exercise of the rights of termination set forth above shall be by notice to the other party within 30 days following the event giving rise to the termination. 4.4 Causes of Breach; Waiver. (a) Neither party shall be held to be in breach of this Agreement because of any failure to perform any of its obligations hereunder if said failure is due to any cause for which it is not responsible and over which it has no control. (b) The waiver of any breach, violation, or default in or with respect to the performance or observance of the covenants and conditions contained herein shall not be 11 taken to constitute a waiver of any such subsequent breach, violation or default in or with respect to the same or any other covenants or condition hereof. 4.5 Disputes. Shall there arise any disagreement relating to this Agreement or the conduct of the parties in relation thereto, the aggrieved party shall give notice to the other party of a meeting to be held at a mutually agreed place, not less than three nor more than 14 days from the date of said notice, so that the parties may attempt to resolve their differences prior to pursuing any other action allowed under this agreement. ARTICLE V MISCELLANEOUS PROVISIONS 5.1 Partial Invalidity. If any one or more of the terms, provisions, covenants, or conditions of this Agreement shall to any extent be declared invalid, unenforceable, void, or voidable for any reason whatsoever by a court of competent jurisdiction, the finding or order or decree of which becomes final, none of the remaining terms, provisions, covenants, and conditions of this Agreement shall be affected thereby, and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 5.2 Amendments. This Agreement may only be amended, changed, modified, or altered with the prior written consent of the College and the Authority. 5.3 Notices. All notices, statements, demands, consents, approvals, authorizations, offers, designations, requests, or other communications hereunder by either party to the other shall be given in writing and shall be deemed property given if sent by certified mail, postage fully prepaid, addressed to the party to be given such notice or other communication and, when so addressed, shall be deemed to have been properly served , valid and sufficient for all purposes hereof, 72 hours after being deposited in a United States Post Office. Such notices shall be sent to the following addresses, or such other address as has been provided to the other party in writing: To: Colorado Mountain College 802 Grand Ave. Glenwood Springs, CO 81601 To: Eagle County Housing and Development Authority 500 Broadway P.O. Box 850 Eagle, CO 81631 5.4 Section Headings. All section headings contained herein are for convenience of reference only and are not intended to define or limit the scope of any provision of this Agreement. 12 5.5 Execution. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original but all together shall constitute but one and the same Agreement. 5.6 Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of Colorado without regard to choice of law analysis. 5.7 No Waiver of Governmental Immunity. No provision of this Agreement shall act or be deemed to be a waiver by the College of the Colorado Governmental Immunity Act, CRS 24-10-101, et seq. 5.8 Electronic Transactions. The parties hereto agree that the transactions described herein may be conducted and related documents may be stored by electronic means. Copies, telecopies, facsimiles, electronic files, and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of such original documents for all purposes. 5.9 Good Faith Cooperation. The parties shall cooperate with one another in good faith to consummate successfully the transactions described herein. Such cooperation should involve reasonable efforts to respond to one another as expeditiously as possible with regard to requests for information or approvals. A spirit of good faith and a mutual desire for the success of the Project shall govern the parties' relationship under this and future agreements generally. 5.10 Memorandum of Lease. The parties mutually agree that at the time of the execution of this Agreement each will execute and acknowledge a memorandum of lease that may be recorded. 5.11 Annual Appropriations. Notwithstanding anything contained in this Agreement to the contrary, the parties' obligations under this Agreement are expressly subject to an annual appropriation being made by each parties' elected goveming board in an amount sufficient to allow such party to perform its obligations under this Agreement. If sufficient funds are not so appropriated this Agreement may be terminated by either party without penalty. Each parties' obligations under this Agreement do not constitute a general obligation indebtedness or multiple year direct or indirect debt or other financial obligation whatsoever within the meaning of the Constitution or laws of the State of Colorado. [The remainder of this page intentionally left blank.] 13 IN WITNESS WHEREOF, the College and the Authority have caused this Agreement to be executed by their respective officers thereunto duly authorized, all as of the day and year first above written. COLORADO MOUNTAIN COLLEGE, as Lessor LN Name: Title: ec�-v 14 EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY, as Lessee By: caair:� NQ/ne: Title: Coo w•,ti i3 i STATE OF COLORADO ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this r2 day of u..I , 2022, byrAv&— $tcanp , as President and CEO of Colorado Mountain College. RUIL54+- WITNESS my hand and official seal. (SEAL) My commission expires: IL-(Q 2J1 �jZZ l Notary Public CHRMNA M. I-MvCMM"BMrMAUa2t,2W ROTARY P8TAiE OP Co!NOTARY iD 20 STATE OF COLORADO ss. Co The foregoing instrument was acknowledged before me this «- day of LLI , 2022, byv�llll'lt'k of Eagle County Housing and Development Aut ority. WITNESS my hand and official seal. (SEAL) My commission expires: ' J Z (1 ZCQ2- 16 QANAL:v�:= Notary Public CURISTINA K ANDREWS NOTARY PUSUC STATE OF COLORADO NOTARY ID 20184033= MVON DAM AUG. 21, 2a22 EXHIBIT A DESCRIPTION OF THE LEASED PROPERTY: The Leased Property consists of the Site and the buildings and improvements located thereon as set forth below, as amended from time to time AI m a f w w ;�= p [[ g ! fiif { * f ggpp g 4F • Q'4 C�7 ., sd !� �y�f 7 3��2 81 4 E yY h h6 yes pig g is n Al 33 i�� A f C AA 8"YN CO t� L It 7 \♦ 1 � l 7 / 7 a 1 7 7 r� 'tg$� i --rtr<wlwa