Vail Commons 2084 Zermatt Lane Unit D Vail, Colorado 81657 The Unit: Three Bedrooms Two Full Bathrooms One ¾ Bathroom One ½ bathroom 1,800 Sq Ft of Living Area on Three Levels Attached One Car Garage End unit The Price: Maximum Purchase Price $217,300.50 Minimum Earnest Money Deposit $6,519.01 Estimated 2015 Property Taxes $918.65 Quarterly HOA Fees $961.00 Includes: Snow and Trash Removal, Water and Sewer, Building Insurance, Common Utilities, Exterior Maintenance, Land Lease Open Houses: Thursday, May 28 Tuesday, June 2 4 to 6 pm 4 to 6 pm Applications: Complete applications are due by noon Friday, June 5.
Vail Commons Resale Lottery 2084 Zermatt Lane Unit D I. Name: First Middle Last Street Address (including Town): Mailing Address (including Town): Phone Numbers: Daytime Evening Email Address: II. Bid Price My Bid Price for 2084 Zermatt Lane Unit D is $. (Cannot exceed maximum sale price of $217,300.50) I understand that if my bid is for less than the maximum sale's price, I will be put into a secondary lottery tier if any bids are received for the maximum sale's price, regardless of my longevity in Eagle County. III. Basic Eligibility (You MUST have a minimum family size of 3 people to qualify for this unit. For the purposes of determining family size, you may include all persons related to you by blood, marriage, or adoption. If you plan to include dependents, they must be continuously listed on federal income tax forms and reside in the household at least six months and one day out of every 12 month period of time.) A. Household Members: Name: Age: Relationship: YOU MUST COMPLETE THE FIRST THREE PAGES AND THE LAST PAGE EVEN IF YOU HAVE PREVIOUSLY SUBMITTED AN APPLICATION, OR CURRENTLY OWN A TOWN OF VAIL DEED RESTRICTED UNIT. C. I/we do not currently own vacant land or a residence in Vail or elsewhere in Eagle County as of June 5, 2015 OR I/we currently own a Town of Vail deed-restricted unit with a resale appreciation cap. I understand that if I/we am selected to purchase the unit I/we will have to close on said unit according to a reasonable schedule set by the Town. I/we will be responsible for arranging any financing necessary in order to carry two mortgages until such time as the Town of Vail can sell my current unit. I/we understand that the Town of Vail does not make any guarantees as to the date of sale for my current unit. LOTTERY APPLICATION PAGE 1 OF 7
D. If selected in the lottery, I will use the residence as my primary home. More specifically, the property will be utilized only as my exclusive and permanent place of residence. A permanent residence shall mean the home or place in which one s habitation is fixed and to which one, whenever he or she is absent, has a present intention of returning after a departure or absence therefrom, regardless of the duration of absence. (In determining what is a permanent residence, the Town staff shall take the following circumstances relating to the owner of the residence into account: business pursuits, employment, income sources, residence for income or other tax purposes, age, marital status, residence of parents, spouse and children if any, location of personal and real property, and motor vehicle registration.) E. I am currently working an average of hours per week at the following business(es) located with in Eagle County which are registered with business licenses within the appropriate jurisdiction (Town of Vail, Town of Avon, etc.) I intend to continue to work for this (these) Eagle County business(es) for an average of at least 30 hours per week in the future. F. I have attached a legible copy of my current pay stub(s). G. I am aware that 75% of my income must be earned at a licensed Eagle County business. I have attached legible copies of my 2014 Federal Income Tax Return and all 2014 forms (i.e. W2s, 1099s, 1040, etc.) H. I have attached a legible copy of my current Colorado driver s license. I. I have secured a mortgage prequalification based on a credit report and have attached a letter from a lender stating as such. J. I am aware that the application and all documentation must be submitted no later than 12:00 noon on June 5, 2015 at the Town of Vail Community Development Office. I am aware that this packet in its entirety will become the property of the Town of Vail, so I have included photo copies of any original documentation that I wish to keep. INITIAL HERE IF YOU ARE A CURRENT TOV DEED-RESTRICTED UNIT OWNER. DOCUMENT YOUR EMPLOYMENT HISTORY FROM YOUR DATE OF PURCHASE TO THE PRESENT - THEN SKIP TO CERTIFICATION INITIAL HERE IF YOU ARE A PREVIOUS LOTTERY APPLICANT. DOCUMENT YOUR EMPLOYMENT AND RESIDENCY HISTORY FOR THE TIME FRAME BETWEEN YOUR LAST SUBMITTAL AND THE PRESENT - THEN SKIP TO CERTIFICATION LOTTERY APPLICATION PAGE 2 OF 7
IV. Longevity in the Area A. Employment Current years of employment in Vail will be weighted 3:1 over current years of employment elsewhere in Eagle County. All years of employment prior to an absence from Eagle County will be given points at a 1:1 ratio regardless of location within Eagle County. Below, list each business for which you have worked within Eagle County. Begin with the most recent. Include the name of the business, the street location and town where you worked, the duration of employment (i.e., 11/93 to 3/96), and the total number of years and months employed at that location. If your employer has several business locations in the County and for example, you worked at different locations for different seasons, list each physical location at which you worked separately. Describe the documentation you have attached for each time period and location. Do not put phone numbers on the documentation lines - we will not verify any employment without documentation. If affidavits are used, they must be notarized. If you are applying as a couple to jointly own the property, provide the employment history of the one person whose record is the longest. Business Name and Phone Number Physical Location Duration of Total Documentation Provided (Street Address and Town) Employment years/months (e.g. W-2s, taxes, H.R. records, check stubs, etc.) NO PHONE NUMBERS 1. / to / years 2. / to / years 3. / to / years 4. / to / years 5. / to / years LOTTERY APPLICATION PAGE 3 OF 7
6. / to / years 7. / to / years 8. / to / years 9. / to / years 10. / to / years ADD ADDITIONAL PAGES, IF NECESSARY LOTTERY APPLICATION PAGE 4 OF 7
B. Residency Current years of residency in Vail will be weighted 3:1 over current years of residency elsewhere in Eagle County. All years of residency prior to an absence from Eagle County will be given points at a 1:1 ratio regardless of location within Eagle County. Below, list each place you have lived within Eagle County. Begin with the most recent. Include the physical location (street address and town), the duration of residency (i.e., 11/93 to 3/96), and the total number of years and months lived at that location. Describe the documentation you have attached for each time period and location. Do not put phone numbers on the documentation lines - we will not verify any residency without documentation. If affidavits are used, they must be notarized. If you are applying as a couple to jointly own the property, provide the residency history of the one person whose record is the longest. Residence Location Duration of Total Documentation Provided (Physical Address, Residence Years/Months (e.g. leases, utility records or Unit #, and Town) bills, voter registration, etc.) NO PHONE NUMBERS 1. / to / years 2. / to / years 3. / to / years 4. / to / years 5. / to / years LOTTERY APPLICATION PAGE 5 OF 7
6. / to / years 7. / to / years 8. / to / years 9. / to / years 10. / to / years ADD ADDITIONAL PAGES, IF NECESSARY. LOTTERY APPLICATION PAGE 6 OF 7
V. CERTIFICATION I/We affirm that foregoing information is true, complete and accurate as of this day of, 2015. I/We understand that any inaccuracy or incomplete statement will disqualify me/us from eligibility for purchase of the unit. I/We have read the Master Deed Restriction and the Town of Vail Employee Housing Guidelines. I/We understand the implications of each, and will abide by them if selected to purchase the unit. I/We understand that this application in its entirety will become the property of the Town of Vail. I/We also understand that the deadline for submitting these materials is 12:00 noon on Friday, June 5, 2015. I/We understand that incomplete or late applications will not be accepted or scored. I/We understand that the lottery will be held on Tuesday, June 16, at 5:00 p.m. in the Town of Vail Community Development Department. I/We also understand that I/we must be present at the start of the lottery in order to be entered into the drawing. I/We can enter into a contract to purchase within three (3) days of being selected in this lottery process and have the ability to put 3% of the purchase price ($6,519.01) down as earnest money at the time of signing the contract. The mortgage lender prequalification letter that I/we have submitted from is an accurate reflection of my/our financial status. I/We realize that securing a loan commitment will require additional review by a lender and past financial records will be scrutinized. I/We realize that I/we may lose my/our earnest money if I/we have made faulty statements in the prequalification process and cannot secure a permanent mortgage loan commitment or otherwise do not proceed to closing after signing a contract. Signed this day of, 2015 by and. signature signature print or type name print or type name LOTTERY APPLICATION PAGE 7 OF 7