Kindred Residences - Phase One - Condo Sales Process

On March 20, 2021, the development team released details of the reservation and selection process for Phase One of Kindred Condos.  The following is the process currently contemplated and is subject to potential change.

On March 27, 2021, the development team released individual floor plans and interior finishes lists for Kindred condos across the entire project.

On March 30, 2021, the developer released a final list of Kindred condos that will be offered for sale during Phase One along with specific pricing for each of those residences.  All Phase One Kindred condos for sale are highlighted in yellow below.  In the near future, the developer also hopes to release a list of draft HOA dues for the Kindred condo complex as well as a Purchase Agreement created for sale of Kindred condos.

On April 5, 2021, Reservation Agreements and Reservation Deposits must be submitted by a final deadline of 10AM MT for purchases of Kindred condos in Phase One.  Fully executed Reservation Agreements shall be submitted to the development team.  A $50,000 refundable Reservation Deposit shall be provided through one of several methods to Land Title Guarantee Company in Dillon, Colorado.

On April 6, 2021, all potential Kindred Phase One buyers, who timely submitted reservation agreements and deposits on the prior day, will participate in a lottery.  The submissions will be separated into groups by bedroom size, and the following four lotteries will be conducted to establish a Priority List:

• Potential buyers for one bedroom condos in Kindred Phase One
• Potential buyers for two bedroom condos in Kindred Phase One
• Potential buyers for three bedroom condos in Kindred Phase One
• Potential buyers for four bedroom condos in Kindred Phase One

On April 7, 2021, the development team will begin sending out invitations for Zoom meetings to potential buyers in order of the Priority List established by the lottery on the prior day.

On April 8-10, 2021, the development team will conduct Selection Meetings on Zoom with potential buyers and their brokers.  During Selection Meetings, Buyers should be prepared to make expected make one of three following choices:

1. Make a formal Selection of an available Kindred condo from the Final List of Kindred condos for sale during Phase One;
2. Defer selection of a Kindred condo to Phase Two (with pricing & availability to eventually be determined by the developer);
3. Cancel Reservation Agreement and have Reservation Deposit of $50,000 fully returned.

If the prospective buyer elected to make a Selection of a Kindred condo as per choice (1) above, they will immediately sign the Purchase Agreement and have four business days thereafter to make a deposit to Land Title Guarantee Company.  The purpose of this is to bring their initial Reservation Deposit of $50,000 up to a total of 10% of the entire purchase price, as denoted in the Purchase Agreement.

Looking past the initial Selection of a Kindred Condo for purchase, the developer currently anticipates the following payment schedule for prospective buyers:

• As discussed immediately preceding, 10% of total Kindred condo purchase price to be paid at time of executed Purchase Agreement;
• 10% of total Kindred condo purchase price to be paid when the developer breaks ground on the complex (likely Summer 2021);
• 10% of total Kindred condo purchase price to be paid at another future construction hallmark (for example, framing inspection completed)
• Remainder of remaining purchase price due shall be paid at Closing upon completion of Kindred condos (likely Winter 2023-2024)