Timetable
October 10, 2006 Reservations Program begins
Winter 2006-2007 Reservations Continue
March 2007 Reservations Converted to Binding Contracts
April 30, 2007 Construction Begins
December 2008 Construction Completed;
Individual condominium closings are scheduled

Reservation Program
Reservation agreements are signed by both the buyer and developer to ensure that even before construction begins, a buyer can choose a particular unit in the building.
These agreements, while not legally binding contracts, will allow buyers to
1) choose up to four condominiums for their eventual purchase,
2) deliver a fully refundable $25,000 to secure their reservation, and
3) be able to terminate the reservation at any time. The reservations are
not assignable.
• A price list and floor plans are included in this brochure, showing the respective
values and locations within the project.
• Reservations should be made early, as the order of conversion to contracts will be the same as the receipt of the reservations.

Contracts
In March 2007, if a buyer’s first choice is already contracted for, then the buyer will contract for the next unit on their priority list. Additional earnest money will be required at the contract stage, adding to the $25,000 already deposited with the reservation, so that a total of 10% earnest money is delivered.
Once the buyer has conducted their due diligence, consisting of the review of floor plans and construction specifications, plus the proposed Condominium Declarations and By-laws, title commitments, and all other necessary documents, the earnest money will become non-refundable.
• At “roof-in” stage, an additional 10% will be required of each purchaser.
• At closing, the remaining 80% of the purchase price will be conveyed.
• Closings shall take place once the Condominium Plat has been recorded and the City of Aspen has issued a Certificate of Occupancy for each unit.