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100 ARBANEY RANCH ROAD + BASALT, COLORADO 81621 + 970.927.9000 + RFCLUB.COM

DEVELOPED BY RFC PROPERTIES, LLC.

ROARING FORK CLUB

CABINS 52-64

FREQUENTLY ASKED QUESTIONS

January 2018

What is the Roaring Fork Club Cabins 52-64 project?

In March 2017, the Roaring Fork Club Board of Directors and Partners approved moving forward

with development of 20 acres formerly known as the Arbaney Kittle Addition. Planned are 13 whole-

ownership cabins situated along the westerly and northerly edges of Hole #5 of the golf course.

Existing and expanded employee housing will be newly constructed northwesterly of its current

location. The maintenance facilities (to be expanded with a new equipment storage building) will

remain where located. Extensive grading, water and landscape features will create a setting

representative of other cabins and sites within the Roaring Fork Club campus.

Why is Roaring Fork Club building more cabins?

The Roaring Fork Club chose to take on this expansion to meet demand of members for larger, multi-

generational use residences and to enhance Club facilities. Key considerations are:

• Provide larger cabins for members that need additional space for their extended families

• Implement the project with reverence to the overall fabric and character of existing Roaring

Fork Club cabin features and environs

• Relocate employee housing to the northwesterly portion of the property adjoining the

existing Kittle House (to be converted to employee housing) and enable development of

additional employee units

• Provide a place for much needed employee and guest overflow parking

• Convert long-term land and maintenance facility lease obligations to Roaring Fork Club

ownership and control

• Provide resources to address near-term capital requirements for Club and Course

refurbishments including golf course irrigation and fire protection systems

What’s going to be built?

• There are 13 cabin sites, eight of which adjoin the 5th hole and five of which are internally

oriented around a new private pond enhanced by views of Basalt Mountain and nearby

foothills.

• Three prototype cabins range from 3,200 to 4,000 square feet in one-story and two-story

configurations.

• Cabins will offer 4 to 5 bedrooms and/or den, larger kitchen and living areas, enhanced

natural light, extensive decks and other distinctive features.

• Automobile parking for each Cabin will be in multi-unit two-car fully enclosed and over-

sized (for storage) garages located at the entry to the Cabin area. Garages will include 220-

volt power in the garages for EV (electric vehicle) charging capabilities.

• Cabins will be accessed along cart paths typical of existing Roaring Fork Club cabin areas.

• The entire Cabins 52-64 complex will be graded and landscaped with a mix of native grasses,

Spruce, Fir and Aspen groves interconnecting with reconfigured Hole #5 pond and a new

pond with meandering streams and water features.

100 ARBANEY RANCH ROAD + BASALT, COLORADO 81621 + 970.927.9000 + RFCLUB.COM

DEVELOPED BY RFC PROPERTIES, LLC.

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• Connective cart paths will provide easy and quick access to the Members Lodge

and Club amenities.

• We are selling the sites to Roaring Fork Club Regular Members and then

immediately building the cabins for them. This concentrates construction into a

shorter, less impactful period and results in cost savings to our buyers.

What are the Cabin choices?

• Cabin A – One story, 4-bedroom, 4 ½ baths, 3,207+ sq. ft. (plus an optional 700 sq. ft.basement area that could be purposed for two bedrooms with baths, or wine room andentertainment area, or combinations thereof)

• Cabin B – Two story, 4-bedrooms + den, or 5 bedrooms, 4 ½ - 5 ½ baths, 3,640 sq. ft. (plus anoptional 290 sq. ft. basement area that could be purposed for wine room or entertainmentarea)

• Cabin C – Two story, 4 bedrooms + den, or 5 bedrooms, 4 ½ - 5 ½ baths, 3,872 sq. ft.

Notes: (1) Each cabin will have stairway access to a basement level mechanical room: (2) Each cabin

will be constructed over a 5 ½ foot crawl space; (3) Cabin square footages are estimates subject to

minor modification through final construction documents; (4) Town of Basalt approved Sketch Plan

limits RFC Cabins 52-64 size to not more than 4,000 sq. ft. each.

Cabin features will be the Rocky Mountain style currently existing throughout the Roaring Fork Club

campus. Exteriors will be of log and wood siding, rustic metal and composite shingle roofing, timber

frame porches, thermal insulated and divided light windows, appropriate natural and manicured

landscaping and extensive water features. Interior finish options include “Cabin Rustic” or

“Mountain Contemporary”, as selected by each buyer.

What are Cabin features and how do I provide input?

• Poss Architects is nearing completion of construction documents for the three Cabin

prototypes.

• There will be two exterior color and material options and two interior design packages for

selection by each Cabin owner. Interior design choices will be of traditional cabin vernacular

or a more contemporary choice.

• Preliminary plans, specifications and relevant information, including floor plans, elevations

and renderings are available.

• The project team has initiated a program for Buyers to request design modifications to the

base plans and specifications. This program is documented in the Lot Purchase and Cabin

Development agreements. Each Buyer is now invited to review their choice of cabin and to

formalize requested design modifications.

• If there are questions about possible modifications, please contact Alexandra George who will

discuss topics and arrange meetings with the architectural/builder team.

What will the new Cabins cost?

The full price including site purchase, site development and Cabin construction, including landscape

and water features, high quality interior finishes and appliances is estimated to range from $4.3 to

$5.2 million depending on site and cabin selections. The initial site purchase price ranges from

$1,750,000 to $1,975,000 with site closing anticipated February 2018 following Town of Basalt Final

100 ARBANEY RANCH ROAD • BASALT, COLORADO 81621 • 970.927.9000 • RFCLUB.COM

DEVELOPED BY RFC PROPERTIES, LLC.

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Development Plan and Plat approvals, anticipated in January 2018. Payments for

construction will occur at various stages through completion.

When will this all happen?

October – January 2018

o Execute Lot Purchase agreements with buyers

o Obtain Development Plan approvals from Basalt Planning & Town Council

o Bid site development work and select infrastructure contractor

o Bid landscape and water features work and select landscape contractor

o Ongoing sales, marketing and management activities

January – February 2018

o Obtain Final Approval from Basalt Town Council

o Complete formal entitlement documents and record Final Plat

o Close on purchase of land from the Arbaney Family

o Execute Cabin Development Agreements with buyers

o Execute development and construction agreements with contractor(s)

March – July 2018

o Ground breaking and start Phase I site development work

o Prepare employee housing site and install foundations

o Complete and occupy new employee housing

o Start Phase I Cabin construction

August – December 2018

o Complete Phase I site development work

o Initiate Phase II site development work

o Start Phase II Cabin construction

August 2019 – April 2020

o Deliver cabins for occupancy

o Celebrate completion of outstanding community

Who is the development team?

Roaring Fork Club Properties, LLC (Developer)

o Project Oversight – RFC Board, Kent Meager and Geoff Hasley, COO

o Project Manager – Dennis Carruth, Carruth Properties Company

o Project Insight – Bill Hegberg

o Construction Manager – Don Carpenter, Project Resource Company

o Real Estate and Marketing Manager – Alexandra George

o Construction Coordinator – Teri Bruna

Consultants

o Site Design and Landscape Architecture – Design Workshop

o Cabin Architecture – Bill Poss Architects/Planners

o Civil Engineering – Sopris Engineering

o Environmental – Colorado Wildlife Science

o Soils/Geotechnical – CTL Thompson

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Note: Dennis Carruth, Broker, and Alexandra George, Broker Associate, are Colorado licensed real estate brokers under Carruth

Properties Company, acting as Transaction Broker with respect to the RFC Cabin 52 – 64 project. We are members of the Aspen

Board of Realtors.

Cabin Builder

o Harriman Construction

What entitlements are required prior to Project start?

The property is in the Town of Basalt which is the governing authority for approval of zoning and property development plans. The first step, Sketch Plan approval, was granted by unanimous vote of the Town Planning Commission on April 17 and by the Town Council on May 23. The Project Team submitted a comprehensive package comprising a combined Preliminary Development Plan and Final Development Plan application which was submitted to the Town in July. Basalt Planning Commission approved the preliminary plan at its November 7, 2017 public hearing and Basalt Town Council approved the preliminary plan at its November 28, 2017 public hearing. Town of Basalt final plan and plat approvals are anticipated in January 2018, to be followed by final plat recordation and initial lot closings in February 2018.

How do I become a Site and Cabin Owner?

The first step is to contact Dennis Carruth or Alexandra George to arrange an information meeting

and site tour. If you like what you see, then the following process applies:

• Choose an unreserved Cabin site, enter a Reservation Agreement, and advance an initial

$250,000 deposit. Reserving a lot will secure a position in this project and should another lot

fall through, the lot which has come available will be offered to you as a Reservation Holder

in the order of original receipt of reservation, provided the available lot was not an available

choice at the time of your reservation.

o After confirmation of 13 reservations, we will be building a back-up reservation list.

Priority for this list will be in the order in which back-up reservations are received. A

back-up reservation will consist of a fully-executed back-up reservation agreement

and a refundable deposit of $100,000.

• Enter into a “Lot Purchase Agreement” and a “Cabin Development Agreement”.

• Close on your Lot purchase anticipated February 2018.

• Begin Cabin construction and advance periodic payments.

o Phase I – beginning July 2018

o Phase II – beginning December 2018

o Cabin occupancy anticipated to be delivered August 2019 to April 2020.

How do I stay updated on project happenings?

Project updates and documents are available on www.rfccabins5264.com.

How can the Real Estate Brokerage Community be involved?

General information about the project and the three cabin choices is listed in the Aspen Board of

Realtors MLS service. Buyer broker engagement is invited and will be compensated pursuant to

separate agreement with RFC Properties, LLC.

How do I contact you?

• Dennis Carruth, Project Manager, dcarruth@rfclub.com, Cell: 303-263-2970

• Alexandra George, Real Estate & Marketing Manager, ageorge@rfclub.com,

Cell: 304-561-8760