Aspenhof Condominium Association c/

81602 | 06/25/2020 | Ad id: 8-0000593850-01

Aspenhof Condominium Association
c/o The Romero Group
350 Market Street, Suite 304, Box 4100
Basalt, CO, 81621-4100

June 26, 2020


Dear Aspenhof Condominium Owner:

The Aspenhof Condominium Association (the "Association") Board of Managers desires to amend and restate the Condominium Declaration for Aspenhof recorded in Pitkin County, Colorado on November 27, 1970 in Plat Book 4, Page 136 at Reception No. 143282, as amended (the "Declaration") to address existing deficiencies, comply with applicable law, modernize the language, and revise provisions that address use of the Common Elements and the Units, the responsibilities for Common Element maintenance, repair, or replacement and capital improvements, and the allocation of resulting Common Expenses. An earlier draft of the proposed Amended and Restated Condominium Declaration for Aspenhof (the "Amendment") was previously circulated for Owner comment. The revisions made in response to Owner feedback are reflected in the enclosed Amendment, which the Board has approved for submission to the Owners for approval. A summary of the changes made to the Declaration in the Amendment are as follows:

• Specifies the formula for determining each Units interest in the Common Elements, Common Expenses and Votes.
• Allows for the Residential Unit Owners and the Commercial Unit Owners to each separately elect one Board member.
• Authorizes the encumbrance of the Association's assessment lien and right to collect future assessments to secure financing for Common Element repair or replacement and capital improvements.
• Adds or revises restrictions related to use of the Common Elements and the Units, and particularly, distinguishes certain restrictions applicable to Residential or Commercial Units.
• Deletes provisions addressing the Declarant's rights and powers that are no longer applicable.
• Removes references to the Managing Agent's use of a Unit.
• Removes unreasonable and antiquated limitations on expenditures for capital improvements.
• Makes nonrefundable working capital contributions payable by each new Owner upon purchase.

The Amendment is intended to improve the administration, operation and management of the Property and the Association, which will facilitate the efficient preservation and enhancement of the Project and the value of each Unit.

This letter serves as notice in lieu of a special meeting and solicitation of written ballot approval from the Owners to approve the proposed Amendment pursuant to C.R.S. § 7-127-109, which provides that any action that may be taken at a member meeting may be taken without a meeting a written ballot is delivered to every member entitled to vote on the matter. Accordingly, a written ballot is enclosed for the purpose of obtaining a membership vote on whether to adopt the proposed Amendment.

As stated on the written ballot, the affirmative vote of Owners holding at least 60% of all Association votes is necessary for proper approval of the Ballot Question pursuant to the Declaration § 20. Please indicate your vote by checking yes or no as to each of the Ballot Questions, write in the date, print your name, sign your name, provide the address of your Unit where indicated on the enclosed ballot, and return your ballot as soon as possible. Alternatively, you have the opportunity to submit your vote online. An email from has been sent contemporaneously with this Notice to each Owner, which includes a link to the website where Owners may cast their votes for or against the ballot question. Additionally, the email will provide each Owner with a unique password necessary to complete the voting process. You may only vote once.
Use the enclosed written ballot or submit your vote online.

You must cast your vote online, or your written ballot must be received by the Association, c/o the Association's attorney, no later than 5:00 p.m. on August 25, 2020, via hand delivery, U.S. Mail, e-mail, or fax, as follows:

Aspenhof Condominium Association
c/o Wilton E. Anderson
Karp Neu Hanlon, P.C.
201 14th Street, Suite 200
P.O. Drawer 2030
Glenwood Springs, CO 81602
E-mail: Email Me
Fax: (970) 945-7336

Please do not hesitate to contact the Association's attorney, Wilton E. Anderson, via e-mail or by phone with any questions you may have.


Aspenhof Condominium Association

Published in the Aspen Times on June 25, 2020.