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HomeMy WebLinkAboutSDP200500125 Application 2005-11-14 Community elopment Department, Planning& County of Alb Carle Community Development Division ac 4 401 McIntire Road Charlottesville,VA 22902-4596 Planning Application / Voice: (434)296-5823 Fax (434)972-4012 PARCEL/ OWNER INFORMATION TMP 06000-00-00-02700 Owner(s): KAPPA SIGMA MEMORIAL FOUNDATION C/O JOHN S BIRKELBACH Application # SDP200500125 PROPERTY INFORMATION Legal Description ACREAGE Magisterial Dist. Samuel Miller Land Use Primary Commercial -- Retail Current AFD Not in A/F District Current Zoning Primary Commercial Office APPLICATION INFORMATION House # Street Name Apt/Suite City State Zip Street Address Entered By: Esther Grace on 11/15/2005 Application Type Site Development Plans Project: Kenridge 2,235.00 Received Date 11/14/2005 Received Date Final Total Fees $3,567.00 Submittal Date 11/14/2005 Submittal Date Final Total Paid $ 3,567.00 Closing File Date Revision Number Comments: Legal Ad SUB APPLICATION(s) Type Sub Application Date Comments Final- Residential -Commission 11/14/2005 APPLICANT / CONTACT INFORMATION Primary Contact Name COLLINS,SCOTT(TIMMONS GROUP) Phone # (434) 295-5624 Street Address 800 EAST JEFFERSON STREET Fax # (434) 295-8317 City/State CHARLOTTESVILLE,VA Zia Code 22902-0000 E-mail SCOTT.COLLINS@TIMMONS.COM Cellular# ( ) - Owner/Applicant Name KAPPA SIGMA MEMORIAL FOUNDATION C/O JOHN Phone # ( ) - Street Address P 0 BOX 1977 Fax # ( ) - City/State EL PASO TX Zip Code 79950-1977 E-mail Cellular# ( ) - Name KENRIDGE, LLC(ATTN: HUNTER CRAIG) Phone # (434) 974-4505 Street Address P.O. BOX 5509 Fax # (434) 973-9120 City/State CHARLOTTESVILLE,VA Zip Code 22905-0000 E-mail Cellular# ( ) - Signature of Contractor or Authorized Agent Date Application for Site Development Plans and Site Plan Waivers C.Preliminary Site Development Plan ❑ Residential=$1,190 plus$13/dwelling unit El--Non-residential=$1,580 plus$13/1,000 sq.ft.of dev. ❑ Final Site Development Plan(Administrative) Final Site Development Plan(Commission) El Residential=$410 Prior to preliminary approval=$1,130 Ron-residential=$410 ❑ After preliminary approval=$790 Two(2)mylars and one(1)folded copy of plan are required ❑ Site Plan Waiver(Ordinance Section Number)=$270 8 folded copies of sketch plan are required For all Preliminary Site Plans,Final Site Plans prior to preliminary approval, and Site Plan Waivers ❑ Tier 3 Groundwater Review=$400 plus$25 per dwelling unit (Required for all plans showing a use that uses less than 2,000 gallons of water per day average) g 1 ter 4 Groundwater Review=$1,000 (Required for all plans showing a use thatuses greater than 2,000 gallons of water per day average) Project Name: V'C.Ylrl d3.€ tcvei.oprne 4 Tax map and parcel: Q-ate} Magisterial District: t{„SA-mud ,1b'zoning: C 0 Physical Street Address(if assigned): 24t-'4- Lk/LA 2.11. Location of property(landmarks,intersections,or other): ZS) LA1QSt O.CrOSS corn rrlLL/DCA C\01f QoW(SR,. Does the owner of this property own(or have any ownership interest in)any abutting property? If yes,please list those tax map and parcel numbers no Contact Person(Who should we call/write concerning this project?). I I MfrY1D5 —froze p r2 i4r 4U4I Co Gil r)5' Address EpS4 Te_ r '50Pl City &oriCrWfS6J It State \A Zip 77_9/'7 Daytime Phone((434) 2-95-5(02-11 Fax# 295-B.3/7- E-mail 34.04-1.COJAnS(,—%AI4, 04S.LQ/[.� Owner of Record kQ,,pp0. c�' 5nfick, WI�dfW 21,t Fc14yl % �OinV� S. ?:)i r Icelloack Address P.0 . X 1Cin City EI .JSp State Ix Zip ---icig5-0 Daytime Phone( ) Fax# E-mail j�, ' Applicant(Who is the Contact person representing?). K�rl e+t � t_c_ ' 1 ` ' 'u✓1 Tom/ Cv J q 1, 1 Address P,:,'Roy 550ci City r 10-1 r_ Vi I le. State VA Zip 22905 Daytime Phone(43 t) 914.-'-f 505 Fax# 9/3-on zo E-mail RECEIVED 57 ���" 1r12005 . 2 County of Albemarle Department of Community Development 401 McIntire Road Charlottesville,VA 22902 Voice: (434)296-5832 Fax: (434)�ELOP 1 1/4/05 Page of 2 3 4�� Final Site Development Plan Checklist lhof- Project Name: K.614 lam^Pei Firm: TI omot•iy 6.1 goIR This checklist must be completed,signed and submitted with the application. The information contained in this checklist reflects the contents of the Site Plan Ordinance as of August 5, 1998. The applicant is responsible for insuring that no revisions to the Ordinance have occurred since preparation of this document. A Final Site Development Plan shall contain the following: ❑ Preliminary approval letter with appropriate number of copies of the plan ❑ Written request for any waivers(attach to application): Please List: Tentative approvals obtained (attach copy of correspondence with approval): ❑ Engineer ❑ E911 Addressing Coordinator ❑ Planner ❑ Service Authority(ACSA) ❑ Building Official ❑ Thomas Jefferson Health District ❑ Fire/Rescue Division ❑ VDOT ❑ Groundwater Program Authority Site Plan Ordinance Section 32.6 - Contents of final site plan In addition to containing all of the information required by the Contents of Preliminary Site Plan(section 32.5)a final site plan shall contain the following: ar 1. A final site plan together with amendments thereto shall be prepared and sealed, signed and dated by an architect, professional engineer, land surveyor,or certified landscape architect,each of whom shall be licensed to practice in the Commonwealth of Virginia. [32.6.1] ❑ 2. A final site plan shall be prepared on mylar, sepia or other such transparency material which shall be termed as the master drawing. Two(2)clearly legible blue or black line copies of the master drawing shall be submitted to the department of planning and community development. (Added 5-1-87) In addition,if review is required by the commission,one(1)reduced copy no larger than eleven(11)inches by seventeen(17) inches in size shall be submitted. [32.6.2] Eir 3. Two(2)copies of a landscape plan shall be submitted with the final site plan if not previously submitted. [32.6.3]. ❑ 4. When the site plan is ready for final approval,the full-sized revised master drawing and a transparency copy of the master drawing shall be submitted for the agent's signature. Once the agent has signed the master drawing,he shall return the master drawing to the developer and the developer shall submit four(4)print copies of the signed master drawing to the agent. [32.6.4] County of Albemarle Department of Community Development 401 McIntire Road Charlottesville,VA 22902 Voice: (434) 296-5832 Fax: (434) 972-4126 1/4/05 Page 1 of 3 19r5.Unless otherwise approved by the agent,the final site plan shall be prepared to the scale of one(1)inch equals twenty(20)feet or larger or to such a scale as may be approved by the agent in a particular case;no sheet shall exceed thirty-six(36)inches by forty-two(42)inches in size. The site plan may be prepared on one(1)or more sheets. If prepared on more than one(1)sheet,match lines shall clearly indicate where the sheets join. The top of the sheet shall be approximately either north or east. [32.6.5] C26.The fmal site plan shall reflect conditions of approval of the preliminary site plan. The final site plan shall contain the following information in addition to all the information required on the preliminary site plan:[32.6.6J EtA 7. Specific written schedules or notes as necessary to demonstrate that the requirements of this chapter are being satisfied. In addition to preliminary site plan information,indicate if sale or rental units;number of bedrooms per unit,and number of units per building if multi-family;specifications for recreational facilities. [32.6.6a4 GV8.Proposed grading(up to twenty[20]percent slope,maximum two [2] foot contours; over twenty[20]percent slope,maximum five [5] foot contours). [32.6.61V e-9.Detailed plans for proposed water and sanitary sewer facilities, including: all pipe sizes,types and grades; proposed connections to existing or proposed central systems;location and dimensions of proposed easements and whether the same are to be publicly or privately maintained;profiles and cross sections of all water and sewer lines including clearance where lines cross;all water main locations and sizes;valves and fire hydrant locations;all sanitary sewer appurtenances by type and number;the station on the plan to conform to the station shown on the profile and indicate the top and invert elevation of each structure.[32.6.6c] Er10.Detailed construction drainage and grading plans: 1. Profiles of all ditches and channels whether proposed or existing,showing: existing and proposed grades,and invert of ditches,cross pipes or utilities;typical channel cross sections for new construction;and actual cross sections for existing channels intended to remain; 2. Profiles of all storm sewer systems showing existing and proposed grades; 3. Plan view of all drainage systems with all structures,pipes,and channels numbered or lettered on the plan and profile views. Show sufficient dimensions and bench marks to allow field stake out of all proposed work from the boundary lines; 4. A drainage summary table for culverts,storm sewer and channels as described in the following example: Structure Number Description Length Invert in Invert out Slope Remarks (1) 42"RCPClass III 50' 424.50 424.00 100.00% Provide 2, EW (2) DI-3B L=8 426.00 432.00 - IS-1 Top (3) PG-2A 400' 420.00 400.00 5.00% D=12" (4) Grade Swale 200' 420.00 415.00 2.50% D=18" 5. A legend showing all symbols and abbreviations used on the plan; 6. General notes,typical sections,and details of all items not covered by Virginia Department of Transportation standard drawings; 7. Flood plain limits for the one hundred year storm for all watercourses with an upstream drainage area of fifty(50) acres or more provided that the county engineer may waive this requirement for drainage areas of less than one hundred(100)acres upon determination that such information is unnecessary for review of the proposed development. [32.6.6d] I9' 11.Typical street sections together with specific street sections where street cut or fill is five(5)feet or greater; centerline curve data;radius of curb returns or edge of pavement; location,type and size of proposed ingress to and egress from the site;together with culvert size;symmetrical transition of pavement at intersection with existing street;the edge of street surface or face of curb for full length of proposed street;when proposed streets intersect with or adjoin existing streets or travel-ways,both edges of existing pavement or travelway together with curb and gutter indicated for a minimum of one hundred(100)feet or the length of connection,whichever is the greater distance.[32.6.6e4 U /12. Signature panel for Department of Community Development. [32.6.611 1/4/05 Page 2 of 3 5K13.For all parking and loading areas,indicate: size;angle of stalls;width of aisles and specific number of spaces required and provided,and method of computation. Indicate type of surfacing for all paved or gravel areas. [32.6.6g] al/14. The final site development plan shall be dimensioned to at least the following standards for accuracy: 1. Boundary,setback and zoning lines-nearest one-one hundredth(0.01)of a foot; 2. Existing contours-one-half(%z)of the contour interval required in section 32.6.6.b above; 3.Proposed contours-within one(1)foot horizontally and vertically; 4. Spot elevations-within one-tenth(0.10)of a foot; 5. Existing structures,utilities and other topographic features-within two(2)feet. For critical structures,accuracy should be within one-tenth(0.10)of a foot; 6. Proposed structures,roads,parking lots,and other improvements-within one hundredth(0.01)of a foot. [32.6.6h] al 15. Landscape plan in conformance with section 32.7.9.[32.6.61] 2(16. Outdoor lighting information including a photometric plan and location,description, and photograph or diagram of each type of outdoor luminaire.[32.6.6j] In addition to the items required by the ordinance,Albemarle County Engineer,Groundwater Program Authority,the Virginia Department of Transportation,the Albemarle County Service Authority,and the Thomas Jefferson Health District require these items on plats and plans submitted for preliminary approval. Plats and plans will not be rejected if these items are not present,but they are required for approval. These items are provided in an effort to communicate all preliminary comments. Er 1. Reference the benchmarks used for surveys. (Albemarle County Engineering Policy) Gir-2. Indicate the available sight distance for entrances and left turn lanes. (Albemarle County Engineering Policy) Er-3. Label the maximum height of all retaining walls. (Albemarle County Engineering Policy) O'4.Provide copies of off-site easements,or letters of intent to grant them from off-site property owners. (Albemarle County Engineering Policy) lir 5. Show and label stream buffer limits. (WRPA Ordinance) Er-6. Indicate the deed book and page reference for all existing utility easements located on the property. (Albemarle County Service Authority) 7.Tier 3 -Draft or Final Groundwater Management Plan(17-403) Gir-8.Tier 4-Aquifer testing work plan(17-403) Read and Sign In representing the above referenced firm submitting this plat for preliminary approval, I hereby sate that, to the best of my knowledge, the attached plat contains all information required by this checklist. Signature i'erson completing checklist Date // /1L -05 Printed Name Daytime phone number of Signatory 6 0TT CO!-C_I N S 934 - 275 - 562.1 1/4/05 Page 3 of 3 FAX Date: INumber of pages including cover sheet: TO: FROM: Hunter E. Craig Hunter E. Craig Co. P. 0. Box 5509 Charlottesville, VA 22905 Phone: 434-974-4505 Office Phone: 434-981-0975 Mobile Fax Phone: - • rj - Fax Phone: 434-973-9120 • REMARKS: 1 I Urgent E For your review El Reply ASAP ❑ Please Comment ST/T©'d £Z :LZ S©az-IT-nON KAPPA SIGMA MEMORIAL FOUNDATION P.O. BOX 1977 EL PASO, TEXAS 79950-1977 John S. Birkelbach, President September 23, 2004 Mr. Hunter E. Craig VIA FEDERAL EXPRESS Hunter E. Craig Co. 1900 Arlington Blvd., Suite A Charlottesville, Virginia 22903 RE: 2445 ivy Road, Charlottesville, Virginia Dear Hunter: Enclosed herewith please find one fully-executed counterpart of the Contract of Purchase, together with an executed counterpart of the First Amendment to Contract of Purchase. Should you have any questions, please call. ry truly yours, 4.) • �� Jo n S. Birkelbach .TSB/th Encl. onin5c4-IO10IASD/7a6239.I ST/EO'd ET:LT 500E-TT-(iON 11/11/2005 FRI 15:32 FAX ij uuniuun t ' Type of Development L 4 esidential Non-residential 1"ow► -i-kot,t5�5, 5•C, Type of unit(s): El Commercial / ❑ Industrial #of building(s): 7 r vi �i acri(c ❑ Quasi-Public Sq.ft.of building(s): z' 11O, OD tc a I ftpiTyjl niss.ft of building(s). (�(firoIN • l � / Acreage of site: #of units per building: UN �� Total#of units: (Q(a Acreage in open space: Resulting density: 7 DU /A LR& Acreage in roads: Acreage of site: It,.5 AC Average gallons of water used per day: Acreage in open space: 3 L . Acreage in roads: a- ! AG • Average gallons of water used per day: 23) }0 0 Intended use or justification for request: Da4PA 4- a4- 4i4-e p ii,vsu a AA-(- -Fo 5P- 004—052- , porn b� .�l 1 via,v �nh vlt1, i'= A (' � � Va ` f 5 - OS Owner/Applicant Must Read and Sign This site plan as submitted contains all of the information required by Section 32.5(Preliminary Plan)or Section 32.6(Final Plan)of the Albemarle County Zoning Ordinance. I understand that plans which lack information required by said sections shall be deemed incomplete and shall be denieli by the agent within ten(10)days of submittal as provided in Section 32.4.2.1 or Section 32.4.3.3 as the case may be. For Final Plans Only:To the best of my knowledge,I have complied with Section 32.4.3.1 and obtained tentative approvals for all applicable conditions from the appropriate agencies. /(_/,-C3 sk Signature of Owner, ontract Purchaser, ent Date �.� fie: �'�y— 77 ' --5• -690 Print Name Daytime phone number of Signatory 1/4/05 Page 2 of 2 ITT AHD 'RA PTh1 c E- -AO eEeiV 7 CONTRACT OF PURCHASE THIS CONTRACT OF PURCHASE is made as of August 18, 2004, between KAPPA SIGMA MEMORIAL FOUNDATION, whose address is 100 N. Stanton, Suite 1700, El Paso, Texas 79901, owner of record of the Property sold herein (the "Seller"), and HUNTER E. CRAIG CO., or assigns, whose address is P.O. Box 5509, Charlottesville, Virginia 22905 (the "Purchaser") and GEORGETOWN REAL ESTATE, whose address is P.O. Box 5509, Charlottesville, Virginia 22905 ("Purchaser's Broker"). Unless otherwise specified herein, the acceptance date of this Contract shall be the date upon which it is executed by Seller and shall be the date of acceptance as inserted in the blank above the signature of the Seller on the signature page of this Contract. I. Real Property. Purchaser agrees to buy and Seller agrees to sell the land and all improvements thereon and appurtenances thereto (the "Property"), located in the County of Albemarle, Virginia, and described as: Street Address: 2445 Ivy Road, Charlottesville, Virginia. Legal Description: 16.556 acres more or less, as shown on a physical survey of Roudabush, Gale & Associates, Inc. dated May 25, 2004, entitled "Physical Survey Parcels 27 and 27B of Tax Map 60 Located On U.S. Route 250 Albemarle County, Virginia", attached hereto as Exhibit "A" and made a part hereof 2. Personal Property. The following personal property is included in this sale: All appliances currently on the'Property, 3. Purchase Price. The purchase price (the "Purchase Price") of the Property is Eight Million Seven Hundred Fifty Thousand and No/100 Dollars ($8,750,000.00), which shall be paid to Seller in the form of cash or readily available funds at Settlement. 4. Deposit. Purchaser shall pay to Seller Ten Thousand and No/100 Dollars ($.10,000.00) (the "Initial Deposit") in consideration of the execution and delivery of this Contract by Seller, which amount shall be fully refundable if this Contract is not executed or if the Purchase elects to terminate as provided herein, but shall be applicable to the Purchase Price if Purchaser proceeds to Settlement hereunder. Seller acknowledges receipt of the Initial Deposit in the form of official check number 22673, dated July 19, 2004, which check Purchaser authorizes Seller to deposit immediately upon execution of this Contract. Upon receipt of a fully executed original of this Contract, signed by Seller, Purchaser shall deliver to Seller another Twenty Thousand and No/100 Dollars ($20,000.00) representing a non- refundable, Additional Deposit; but such Additional Deposit shall be applicable to the Purchase Price. If such Additional Deposit has not been delivered to and received by Seller within four (4) business days following Seller's execution of this Contract, then this Contract shall automatically terminate, the Initial Deposit shall be returned to the Purchaser and neither party shall have any further right or obligation hereunder. 5. Settlement and Possession. Purchaser shall have thirty (30) days from the date of Seller's acceptance in order to conduct examinations or studies of the Property (the "Due Diligence Period"). During the Due Diligence Period, Purchaser, and its agents, and employees, shall have the right to enter upon the Property for the purpose of making or conducting, at its sole cost, all studies, tests, engi- V d 7( ST d bT :LT S©CIE-TT-nuN neering, environmental and land surveys, tests of the surface and sub-surface conditions and other tests, examinations, explorations and inspections as Purchaser deems appropriate in its sole discretion. Purchaser agrees to indemnify and hold Seller harmless against any loss, damage or claim which may be asserted against or recovered from Seller as a result of any such testing by or on behalf of Purchaser, except any such loss, damage or claim which results from any negligent or intentional act or omission of Seller. To assist Purchaser in its examinations of the Property, Seller agrees to provide Purchaser with copies of all documents in Seller's possession related to the Property, including, but not limited to, title reports and surveys. Prior to the expiration of the Due Diligence Period, Purchaser may, upon written notice to Seller, cancel this Contract for any reason. Upon such notice, Seller shall refund the $10,000 Initial Deposit to Purchaser, and the parties shall have no further obligation or liability to each other with respect to the Property. Seller may retain the additional deposit of S20,000. If Purchaser does not cancel this Contract during the Due Diligence Period, unless the Due Diligence Period is extended as provided below, Purchaser shall be deemed satisfied with its inspection of the Property, this Agreement shall continue and the parties shall proceed to Closing. At the option of Purchaser, to be exercised by written notice to Seller on or before five (5) days prior to the expiration of the Due Diligence Period, Purchaser may extend the Due Diligence Date an additional thirty (30) days (the "First Due Diligence Extension Period") by paying to Seller an extension fee of Forty Thousand and No/100 Dollars (S40,000.00) (the "First Due Diligence Extension Fee") which amount shall be applicable to the Purchase Price, but shall be non-refundable. Provided that Purchaser has timely paid the First Due Diligence Extension Fee, at the option of Purchaser, to be exercised by written notice to Seller on or before five (5) days prior to the expiration of the First Due Diligence Extension Period, Purchaser may extend the Due Diligence Date an additional thirty (30) days (the "Second Due Diligence Extension Period") by paying the Seller an extension fcc of Forty Thousand and No/100 Dollars ($40,000.00) (the "Second Due Diligence Extension Fee"), which amount shall be applicable to the Purchase Price, but shall be non-refundable. Provided that Purchaser has timely paid the Second Due Diligence Extension Fee, at the option of Purchaser, to be exercised by written notice to Seller, on or before five(5) days prior to the expiration of the Second Due Diligence Extension Period, Purchaser may extend the Due Diligence Date an additional thirty (30) days (the "Third Due Diligence Extension Period") by paying the Seller an extension fee of Forty Thousand and No/I00 Dollars (S40,000.00) (the "Third Due Diligence Extension Fee"), which amount shall be applicable to the Purchase Price, but shall he non-refundable. Settlement("Settlement") shall be made at McGuire Woods LLP, Charlottesville, Virginia on or before thirty(30) days following the close of the Due Diligence Period, as may be extended according to this Contract, (the "Closing Date"). Possession shall be given at Settlement, unless otherwise agreed in writing by the parties. 6. Brokernge Fee. a. Purchaser and Seller represent and warrant to each other that Purchaser's Broker is the sole broker with whom it has dealt in connection with the Property and the transactions described herein. At Closing, and not otherwise, Seller shall pay a commission to Purchaser's Broker in the amount of 2% of the Purchase Price (the "Commission") to be payable out of the proceeds of the sale received by Seller at such Closing. Hunter E. Craig is a licensed real estate broker in Virginia and a principal of Georgetown Real Estate. ST/b0'd bZ :2,T SOOE-TT-110N b. Each party hereto agrees to indemnify, defend and hold the other harmless from and against any and all claims, causes of action, losses, costs, expenses, damages or liabilities, including reasonable attorneys' fees and disbursements, which the other may sustain, incur or be exposed to, by reason of any claim or claims by any broker, finder or other person, for fees, commissions or other compensation arising out of the transactions contemplated in this Contract if such claim or claims are based in whole or in part on dealings or agreements with the indemnifying party. Notwithstanding any provisions of this Contract to the contrary, in no event shall (i) Seller be liable for, and the foregoing indemnity of Seller shall in no event apply to, claims by any broker, finder or other person for such fees, commissions or other compensation if such claims are based upon dealings or agreements with prior owners of the Property, or (ii) Seller be obligated to indemnify Purchaser for claims by Purchaser's Broker. c. Purchaser's Broker hereby agrees that: The Commission is the only compensation due to Purchaser's Broker as a result of the transactions contemplated herein. ��- Notwithstanding anything to the contrary in any other agreement between Seller and Purchaser's Broker, the Commission shall not be due or payable unless and until the sale of the Property is closed in accordance with this Contract. If the Closing does not occur for any reason, including any failure by Seller to sell the Property pursuant to this Contract, the failure of title to the Property, default under this Contract by Purchaser, or termination of this Contract, then such Commission will not be earned and shall not be payable. The payment of the Commission by Seller to Purchaser's Broker hereunder shall fully satisfy all obligations to Purchaser's Broker. d. Upon request of Seller or Purchaser, Purchaser's Broker hereby agrees to deliver into escrow with the Escrow Agent at Closing an affidavit in recordable form confirming the full payment and satisfaction of all commissions due to such broker as a result of the Closing and waiving and releasing any lien on the Property to which such broker may be entitled under applicable law to secure such commission. e. The obligations and representations and warranties contained in this Section 6 shall survive the termination of this Contract and the Closing. 7. Required Disclosures. While certain of the improvements located on the Property were originally constructed for residential purposes, the Property is commercially zoned and the Property has not been used by Seller during its ownership for residential purposes. Accordingly, the purchase and sale of the Property is a purchase and sale of commercial property and not residential property. Notwithstanding that this Contract is for the purchase and sale of commercial property, Seller makes the following disclosures: a. Property Owners' Association Disclosure. Seller represents that the Property (check as applicable) ( ) is, (X) is not located within a development which is subject to the Virginia Property Owners' Association Act (Sections 55-508 through 55-516 of the Code). If the Property is within such a development, the Act requires the Seller to obtain an association disclosure packet from the property owners' association and provide it to Purchaser. b. Residential Property Disclosure/Disclaimer. The Virginia Residential Property Disclosure Act (Virginia Code Sections 55-517 through 55-525) requires Seller of certain residential 4 I J ' ST/SOH ST :LT S©©Z-TT-nON property to provide Purchaser in a form provided by the Real Estate Board with either (i) a property disclaimer statement that states Seller makes no representations or warranties as to the condition of the Property or any improvements thereon, and that Purchaser will be receiving the Property "as is", that is, with all defects that may exist (if any) except as otherwise provided in this Contract; or (ii) a property disclosure statement disclosing defects in the condition of the Property based on Seller's actual knowledge. Check A or B. A. (X) Seller has furnished Purchaser a Residential Property Disclaimer Statement. B. ( ) Seller has furnished Purchaser a Residential Property Disclosure Statement. c, Mechanic's and Materialmen's Liens NOTICE Virginia law (Virginia Code Ann. § 43-1 et seq.) permits persons who have performed labor or furnished materials for the construction, removal, repair or improvement of any building or structure to file a lien against the Property. This lien may be filed at any time after the work is commenced or the material is furnished, but not later than the earlier of(i) 90 days from the last day of the month in which the lien or last performed work or furnished materials or (ii) 90 days from the time the construction, removal,repair or improvement is terminated. AN EFFECTIVE LIEN FOR WORK PERFORMED PRIOR TO THE DATE OF SETTLEMENT MAY BE FILED AFTER SETTLEMENT. LEGAL COUNSEL SHOULD BE CONSULTED. d. Adjoining Property. Seller makes no representations as to matters affecting adjacent parcels, and Purchaser should exercise whatever due diligence that Purchaser deems necessary with respect to adjacent parcels. e. Lead-Based Paint Disclosure. The certification required pursuant to the Lead- Based Paint Hazard Reduction Act of 1992 (42 U.S C. 4852d), signed by Seller and Purchaser is attached hereto. All improvements on the Property were not constructed after January 1, 1978_ f. Seller's and Purchaser's Options. In the event that the total cost of fulfilling Seller's obligations set forth in Paragraphs F and G in Standard Provisions exceeds $10,000.00, Seller shall have the option to (i) pay the total cost, or (ii) pay $10,000.00 to Purchaser and to refuse to pay any excess over that amount. If Seller elects (ii), Purchaser shall have the option to accept the Property in its present condition, in which case Seller shall pay S 10,000.00 to Purchaser at Settlement or terminate this Contract and recover the Deposit. 8. Standard Provisions. The Standard Provisions set forth in Exhibit "B" attached hereto and made a part hereof are incorporated herein by reference for all purposes. 9, Notice. All notices shall be in writing and sent by certified U.S. mail return receipt requested ("Notice"). Notice shall he deemed given upon deposit in the U.S. mail with sufficient postage. ST/90'd ST :LT SB© -TT-nON IIIYYY111 Y \ Notice shall be given to the addresses shown for the parties on the first page of this Contract or such other address as may be given by Notice. 10. Expiration of Offer. This offer to purchase shall expire unless notice of acceptance is delivered to Purchaser on or before 5:00 p.m.EST on August 26, 2004, Seller accepts this Contract at 5:00 P.M.EST(time),August 23, 2004. SELLER: PURCHASER: KAPP SIGMA M ORIAL HUNTER E. CO. FO ATION By: By: J S. Birkelb President Hunter E. Craig,President •23• ' , 2004 Date PURCHASER'S BROKER: GEORGETOWN REAL ESTATE By: Hunter . Craig, President ST/LO'd 9T:LT S00Z-TT-nON . , . I . ,.._...... ..____.. 1 I, .ifi,J. L 1 . '.. . 3 ,0 1 1, ,4 4 i t 1 / ; •' i . ii hiFit . Uriapr are.JIM: F • • ..., . iiI • ) i I I t,,'"/ • i t Pr / ,. / rq -,,,, • .4i 1 , I.\t' ti. 1 i a 1 1 i p • I . I i ' L e ' 101. .• %. • .: . L . .r..,, 4ti 1 • .„. \''1 lit i a t ' 1i --- . . 1 • ' ! 1 v o. • '' , 71 1.; ; ...- r-.. • . i II' ,.1 • 11"--r----C 1\ - N Lk •• "el ; •„, r • \\ 's,•-t...„4,,...._ Iii !•.:4, N.N ‘.i•-!.I ifil; t ' • 5 7 k / . ...• tE :I . • Ter' I! -. ' N';$,-; . )! 1 . il I • .a_It , • .-— 0 jig 5 0 ' 14 : ..1#.' -Ofr# q\. 0 \ - / I • i I 'IT so • .11 1 a t,e..r.. . - . , ' ,. :. \ sl •I . , • ' , .ii / °. . /'...„,....---..,.....N , 1 •i . ,,..., , •' . \ 1 • . , j.! . , t. .%-/ -%, • / , ,.7 1 1 1 / J '' IL g 04. 1t1 in i; • 4 l li . .'. si/serd 9T :LT SOIDE-TT—noN EXHIBIT "B" STANDARD PROVISIONS A. Deposit. Intentionally omitted_ B. Expenses and Prorations. Seller agrees to pay the expense of preparing the deed, certificates for non-foreign status and state residency, the applicable IRS Form 1099, the recordation tax applicable to grantors, if any, and the Seller's attorney fee or Settlement Agent's fee. Except as otherwise agreed herein, all other expenses incurred by Purchaser in connection with the Contract and the transaction set forth therein, including, without limitation, title examination, insurance premiums, survey costs, recording costs, loan document preparation costs and fees of Purchaser's attorney, shall be borne by Purchaser. All real estate taxes shall be prorated as of Settlement. In addition to the Purchase Price, Purchaser shall pay Seller for all fuel oil remaining on the Property (if'any) at the prevailing market price as of Settlement. C. Title. At Settlement, Seller shall convey to Purchaser good and marketable fee simple title to the Property by deed of general warranty of title, free of all liens, defects and encumbrances, except for matters and easements shown on attached Exhibit "C" called "Acceptable Exceptions." If a defect is found which makes the title unmarketable and can be remedied by legal action within a reasonable time, Seller shall, at Seller's expense, promptly take such action as is necessary to cure the defect. If Seller, acting in good faith, is unable to have such defect corrected within 60 days after notice of such defect is given to Seller, then this Contract may be terminated by Purchaser, at Purchaser's option. The Settlement shall be extended to the extent necessary for Seller to comply with this Paragraph but not longer than 60 days. D. Risk of Loss. All risk of loss or damage to the Property by fire, windstorm, casualty or other cause, or taking by eminent domain, is assumed by Seller until Settlement. In the event of substantial loss or damage to the Property before Settlement, Purchaser shall have the option of either (i) terminating this Contract, or (ii) affirming this Contract, with appropriate arrangements being made by Seller to repair the damage in a manner acceptable to Purchaser, or Seller shall assign to Purchaser all of Seller's rights under any applicable policy or policies of insurance and any condemnation awards and pay over to Purchaser any sums received as a result of such loss or damage. ST/60'd 9T :LT Sa0z-IT-nON • • E. Condition of Property. 1. This Contract, as written, contains all the terms of the agreement entered into between the parties as of the date hereof, and Purchaser acknowledges that neither Seller nor any of Sellers officers, directors, trustees, agents or representatives ("Seller's Affiliates"), has made any representations or held out any inducements to Purchaser, and Seller hereby specifically disclaims any representation, oral or written, past, present or future. Without limiting the generality of the foregoing, Purchaser has not relied on any representations or warranties, and neither Seller nor any of Sellers Affiliates, nor any of their agents or representatives has or is willing to make any representations or warranties, express or implied, other than as may be expressly set forth herein, as to (1) the current or future real estate tax liability, assessment or valuation of the Property; (2) the potential qualification of the Property for any and all benefits conferred by any laws whether for subsidies, special real estate tax treatment, insurance, mortgages or any other benefits, whether similar or dissimilar to those enumerated; (3) the compliance of the Property in its current or any future state with applicable laws or any violations thereof, including, without limitation, those relating to access for the handicapped, environmental or zoning matters, and the ability to obtain a change in the zoning or a variance in respect to the Property's non-compliance, if any, with zoning laws; (4)the nature and extent of any right-of-way, lease,possession, lien, encumbrance, license, reservation, condition or otherwise; (5) the availability of any financing for the purchase, alteration, rehabilitation or operation of the Property from any source, including, without limitation, any government authority or any lender; (6) the current or future use of the Property, including, without limitation, the Property's use for commercial or general office purposes; (7) the present and future condition and operating state of any personal property and the present or future structural and physical condition of the buildings, their suitability for rehabilitation or renovation, or the need for expenditures for capital improvements, repairs or replacements thereto; (8) the status of the leasing market in which the Property is located; or(9)the actual or projected income or operating expenses of the Property. ii.Purchaser acknowledges that Seller has afforded Purchaser the opportunity for full and complete investigations, examinations and inspections of the Property and has made available to Purchaser the most recent survey of the Property; the Findings Report, Environmental Site Assessment Services, Kappa Sigma Memorial Foundation Property 2443-2447 Ivy Road, Charlottesville, Virginia, dated May 28, 2004, prepared by Commonwealth Environmental Associates, Inc. ("CEA"); Findings Report Limited Soil Sampling and Chemical Analysis Services, Kappa Sigma Memorial Foundation, 2443 Ivy Road, Charlottesville, Virginia. dated June 1, 2004, prepared by CEA; Findings Report Limited Asbestos Sampling and Analysis Services, Kappa Sigma Memorial Foundation, 2443 Ivy Road, Charlottesville, Virginia, dated June 1, 2004, prepared by CEA; Initial Abatement Measures Report, Kappa Sigma Memorial Foundation, 2443 Ivy Road, Charlottesville, Virginia, Pollution Complaint No. PC-04-6154, dated July 12, 2004, prepared by CEA, and submitted to the Virginia Department of Environmental Quality ("VDEQ"), together with correspondence from CEA (the "Property Information"). Purchaser acknowledges and agrees that (1) the Property Information delivered or made available to Purchaser and Purchaser's Representatives by Seller or Seller's Affiliates, or any of their agents or representatives may have been prepared by third parties and may not be the work product of Seller and/or any of Seller's Affiliates; (2) neither Seller nor any of Seller's Affiliates has made any independent investigation or verification of, or has any knowledge of the accuracy or completeness of the Property Information; (3) the Property Information delivered or made available to Purchaser and Purchaser's Representatives is furnished to each of them at the request, and for the convenience of Purchaser; (4) Purchaser is relying solely on its own investigations, examinations and inspections of the Property and those of Purchaser's Representatives and is not relying in any way on the Property Information furnished by Seller or any of Seller's Affiliates, or any of their agents or representatives; (5) Seller expressly disclaims any sT/OT 'd LT :LT SB©Z-TT-PION representations or warranties with respect to the accuracy or completeness of the Property Information and Purchaser releases Seller and Seller's Affiliates,and their agents and representatives, from any and all liability with respect thereto. iii. Purchaser or anyone claiming by, through or under Purchaser, hereby fully and irrevocably releases Seller and Seller's Affiliates, and their agents and representatives, from any and all claims that it may now have or hereafter acquire against Seller or Seller's Affiliates, or their agents or representatives for any cost, loss, liability, damage, expense, action or cause of action, whether foreseen or unforeseen, arising from or related to any construction defects, errors or omissions on or in the Property, the presence of environmentally hazardous, toxic or dangerous substances, or any other conditions (whether patent, latent or otherwise) affecting the Property, except for claims against Seller based upon any obligations and liabilities of Seller expressly provided in this Contract. iv. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS CONTRACT OR IN ANY EXHIBIT ATTACHED HERETO, IT IS UNDERSTOOD AND AGREED THAT THE PROPERTY IS BEING SOLD AND CONVEYED HEREUNDER"AS IS" WITH ANY AND ALL FAULTS AND LATENT AND PATENT DEFECTS WITHOUT ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY BY SELLER EXCEPT AS EXPRESSLY SET FORTH HEREIN OR IN ANY EXHIBIT ATTACHED HERETO. SELLER HAS NOT MADE AND DOES NOT HEREBY MAKE AND HEREBY SPECIFICALLY DISCLAIMS (EXCEPT AS EXPRESSLY SET FORTH HEREIN)ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR CHARACTER WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY(OTHER THAN SELLER'S GENERAL WARRANTY OF TITLE CONTAINED IN THE DEED TO BE DELIVERED AT CLOSING), ITS CONDITION (INCLUDING WITHOUT LIMITATION ANY REPRESENTATION OR WARRANTY REGARDING QUALITY OF CONSTRUCTION, STATE OF REPAIR, WORKMANSHIP, MERCHANTABILITY, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE), I'TS COMPLIANCE WITH ENVIRONMENTAL LAWS OR OTHER LAWS,AVAILABILITY OF ACCESS, INGRESS OR EGRESS, INCOME TO BE DERIVED THEREFROM OR EXPENSES TO BE INCURRED WITH RESPECT THERETO, THE OBLIGATIONS, RESPONSIBILITIES OR LIABILITIES OF TI IF OWNER THEREOF, OR ANY OTHER MATTER OR THING RELATING TO OR AFFECTING THE PROPERTY AND SELLER HEREBY DISCLAIMS AND RENOUNCES ANY OTHER REPRESENTATION OR WARRANTY. PURCHASER REPRESENTS THAT IT IS A KNOWLEDGEABLE PURCHASER OF REAL ESTATE AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE AND THAT OF ITS CONSULTANTS IN PURCHASING THE PROPERTY. THE TERMS AND CONDITIONS OF THIS PARAGRAPH SHALL EXPRESSLY SURVIVE THE CLOSING, SHALL NOT MERGE WITH THE PROVISIONS OF ANY CLOSING DOCUMENT AND SHALL BE INCORPORATED INTO THE DEED TO BE DELIVERED BY SELLER AT CLOSING. PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT THE PROVISIONS OF THIS PARAGRAPH WERE A MATERIAL FACTOR IN THE DETERMINATION OF THE PURCHASE PRICE FOR THE PROPERTY. v. Purchaser acknowledges that Seller has reported to the VDEQ a release of petroleum as described in the Property Information (the "Reported Release"). The VDEQ has assigned Tracking Number PC#04-6154 to the Reported Release. Seller has applied for reimbursement of its expenses of rcmediation from the VDEQ in accordance with the Virginia Petroleum Storage Tank Fund ("VPSTF") and applicable rules and regulations applicable thereto and Seller has entered into a contract with CEA(the Remediation Contract"), a copy of which has been provided to Purchaser as a part of the 1 � ST/TT 'd BI :LT SOLO-TT-nON Property Information. Seller has been advised that as a result oh the Reported Release and application for reimbursement, the VPS'FF will reimburse Seller for all pre-approved remedial services eligible for reimbursement above a $500.00 deductible. CEA has anticipated the non-reimbursable eligible cost will be approximately $2,485.00 (the "Non-Reimbursable Costs"). Seller agrees that it will pay all Non- Reimbursable Costs associated with the Remediation Contract. In the event that Seller has not obtained a no further action/closure letter or other similar instrument from the VDEQ ("NFA") prior to the Closing Date, then, at Purchaser's request, Seller agrees that it will deposit into escrow pursuant to an Escrow Agreement to be in form mutually acceptable to Seller and Purchaser, up to One Million and No/100 Dollars (S1,000,000.00) to cover any remediation cost incurred in excess of the amounts reimbursed under the VPSTF. All sums advanced by Seller subject to reimbursement under the VPSTF, whether expended before or after Settlement, shall be the sole property of Seller and Purchaser shall make no claim therefore. In the event that an NFA has not been obtained prior to the Closing Date, then at Closing, Purchaser will execute and deliver to Seller an access casement mutually acceptable to the parties authorizing Seller and its agents to enter upon the Property to complete the remediation and obtain an NFA. vi. The provisions of this Section F shall survive the termination of this Contract and the Closing. F. Well and Septic. If the Property is served by an on-site well and/or sewage disposal system, Seller agrees to furnish Purchaser, at Seller's expense, with a certificate dated not more than 30 days prior to the date of Settlement from a mutually acceptable private company, indicating that (a) the well water contains no more than the acceptable level of eoliform bacteria and (b) based upon a visual inspection,the septic system is functioning satisfactorily. G. Wood Infestation Inspection and Report. Seller, at Seller's expense, shall deliver to Purchaser a report from a qualified licensed exterminator, dated not earlier than 30 days before Settlement, that all buildings on the Property, except for the building marked "Barn-I" as shown on a physical survey of Roudabush, Gale & Associates, Inc. dated May 25, 2004, entitled "Physical Survey Parcels 27 and 27B of Tax Map 60 Located On U.S. Route 250 Albemarle County. Virginia", are free of infestation and structural damage from termites and other wood—destroying insects. If such insects are found, Seller shall, at Seller's expense, have the building(s)treated and structural damage repaired. H, Affidavits and Certificates. Seller shall deliver to Purchaser an affidavit on a form reasonably acceptable to Purchaser's title company signed by the Seller, that no labor or materials have been furnished to the Property within the statutory period for the filing of mechanics' or materialmen's liens against the Property or, if labor or materials have been furnished during the statutory period, that the costs thereof have been paid. Seller shall also deliver to Purchaser applicable non-foreign status and state residency certificates and applicable Form 1099 IRS certificates. i. Miscellaneous. The parties to this Contract agree that ii shall he binding upon them, and their respective personal representatives, successors and assigns; that except as specifically set forth in this Contract, its provisions shall be merged into the deed delivered at Settlement and shall not survive Settlement; that unless amended in writing and signed by Seller and Purchaser, this Contract contains the Final agreement between the parties hereto, and that they shall not be bound by any terms, conditions, oral statements, warranties or representations not herein contained; and that it shall be construed under the laws of the Commonwealth of Virginia. ST/ T d dti :zi So©z—II—nON • • EXHIBIT "C" Acceptable Exceptions 1. Taxes for the year 2004, a lien, but not yet due or payable. 2. All matters as shown on a physical survey of Roudabush, Gale&Associates. Inc. dated May 25, 2004, entitled"Physical Survey Parcels 27 and 27B of Tax Map 60 Located On U.S. Route 250 Albemarle County, Virginia". 3. Easement granted Virginia Electric and Power Company dated April 6, 1945,recorded in Deed Book 262,Page 464. ST/ T 'd 6T :LT Sa©Z-TT-(UN • FIRST AMENDMENT TO CONTRACT OF PURCHASE THIS FIRST AMENDMENT TO CONTRACT OF PURCHASE is made as of September 2, 2004, between KAPPA SIGMA MEMORIAL FOUNDATION, whose address is 100 N. Stanton, Suite 1700, El Paso, Texas 79901, owner of record of the Property sold herein (the "Seller"), and HUNTER E. CRAIG CO., or assigns, whose address is P.O. Box 5509, Charlottesville, Virginia 22905 (the "Purchaser"). Seller and Purchaser entered into that certain. Contract of Purchase dated as of August 18, 2004 (the "Contract") for the purchase of certain real property more particularly described in said Contract. For the purposes of this Amendment, all capitalized terms, not defined herein shall have the same meaning as under the terms of the Contract. Purchaser has requested that Seller execute an application for Special Use Permit pertaining to the Property for the purpose of seeking permission to build residential units under the R-15 zoning classification for Albemarle County, Virginia (the "Permit Process"). Seller has agreed to cooperate in this Permit Process under the terms and conditions set forth herein. 1. Seller shall bear no expense in the Permit Process. All fees, expenses, and costs shall be borne by the Purchaser, including all of Purchaser's attorneys fees, engineering, and survey fees. ?• Seller shall not be responsible for constructing any improvements or incur any obligations as conditions of the Permit Process, and no conditions of the Permit Process shall be binding on Seller, without its consent. Purchaser shall be responsible for constructing any improvements and shall incur any obligations as conditions of the Permit Process if approved by the locality. 3. Provided that Purchaser has timely paid the Third Due Diligence Extension Fee, at the option of Purchaser, to be exercised by written notice to Seller, on or before five (5) days prior to the expiration of the Third Due Diligence Extension Period, Purchaser may extend the Due Diligence Date an additional thirty(30) days (the "Fourth Due Diligence Extension Period") by paying the Seller an extension fee of Forty Thousand and No/100 Dollars ($40,000.00) (the "Fourth Due Diligence Extension Fee"), which amount shall be applicable to the Purchase Price, but shall be non-refundable. All other terms and conditions of the Contract remain in full force and effect without modification. I V i Stiibti 'd 6T :LI S©©z—IT—OON 5 b d IWWUl as r IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above written. SELLER; PURCHASER: KAPPA SIGMA MEMORIAL HUNTER E. CRAI O. F'OU ATION By: _ By: o S. Birk ch,President Hunter E. Craig,Preside ST/ST 'd CE:LT SO -TT-(iON