HomeMy WebLinkAboutUpdatedTitleCommitment_50022408.1-1-MiscCUSTOMER DISTRIBUTION
Date:Our Order Number:
Property Address:
If you have any inquiries or require further assistance, please contact one of the numbers below:
01-13-2010 VC50022408.1
1280 N. FRONTAGE ROAD W. AKA LOT 1-5, BLK C, LIONS RIDGE FILING 1 VAIL, CO
81657
For Title Assistance:
Vail Title Dept.
Karen Biggs
108 S FRONTAGE RD W #203
VAIL, CO 81657
Phone: 970-476-2251
Fax: 970-476-4732
EMail: kbiggs@ltgc.com
TOWN OF VAIL
HOUSING DIVISION
75 S. FRONTAGE RD.
VAIL, CO 81657
Attn: NINA TIMM
Phone: 970-479-2144
Fax: 970-479-2452
Copies: 1
EMail: ntimm@vailgov.com,mmire@vailgov.com
Linked Commitment Delivery
Land Title Guarantee Company
Date:
Our Order Number:
Buyer/Borrower:
Seller/Owner:
Property Address:
Need a map or directions for your upcoming closing? Check out Land Title's web site at www.ltgc.com
for directions to any of our 54 office locations.
THANK YOU FOR YOUR ORDER!
ESTIMATE OF TITLE FEES
If Land Title Guarantee Company will be closing this transaction, above fees will be collected at that time.
TOTAL
Form CONTACT 06/04
01-13-2010
VC50022408.1
TO BE DETERMINED
TIMBER RIDGE AFFORDABLE HOUSING CORPORATION, A COLORADO NON-PROFIT CORPORATION
1280 N. FRONTAGE ROAD W. AKA LOT 1-5, BLK C, LIONS RIDGE FILING 1 VAIL, CO
81657
TBD Commitment $250.00
$250.00
Land Title Guarantee Company
LAND TITLE GUARANTEE COMPANY
INVOICE
- CHARGES -
When referring to this order, please reference our Order No.
Please make checks payable to:
Land Title Guarantee Company
5975 Greenwood Plaza Blvd. Suite 125
Greenwood Village, CO 80111-4701
Owner:
Property Address:
Your Reference No.:
--Total--
VC50022408.1
TBD Commitment $250.00
$250.00
TIMBER RIDGE AFFORDABLE HOUSING CORPORATION, A COLORADO NON-PROFIT
CORPORATION
1280 N. FRONTAGE ROAD W. AKA LOT 1-5, BLK C, LIONS RIDGE FILING 1
VAIL, CO 81657
January 13, 2010
Schedule A
Our Order No.
Cust. Ref.:
1. Effective Date:
2. Policy to be Issued, and Proposed Insured:
3. The estate or interest in the land described or referred to in this Commitment and covered herein is:
4. Title to the estate or interest covered herein is at the effective date hereof vested in:
5. The Land referred to in this Commitment is described as follows:
Property Address:
VC50022408.1
A L T A C O M M I T M E N T
1280 N. FRONTAGE ROAD W. AKA LOT 1-5, BLK C, LIONS RIDGE FILING 1 VAIL, CO
81657
December 31, 2009 at 5:00 P.M.
"TBD" Commitment
Proposed Insured:
TO BE DETERMINED
A Fee Simple
TIMBER RIDGE AFFORDABLE HOUSING CORPORATION, A COLORADO NON-PROFIT CORPORATION
SEE ATTACHED PAGE(S) FOR LEGAL DESCRIPTION
Chicago Title Insurance Company
LEGAL DESCRIPTION
Our Order No:VC50022408.1
LOTS 1, 2, 3, 4, AND 5, BLOCK C, LION'S RIDGE SUBDIVISION, ACCORDING TO THE PLAT
RECORDED JUNE 8, 1973 IN BOOK 229 AT PAGE 458, COUNTY OF EAGLE, STATE OF
COLORADO.
AND ALL RIGHTS, TITLE, AND INTEREST TO AN EASEMENT IN THE FOLLOWING DESCRIBED
PROPERTY:
THAT PROPERTY DESCRIBED IN AN ENCROACHMENT EASEMENT AGREEMENT FILED FOR RECORD
JANUARY 30, 1980 IN BOOK 298 AT PAGE 22, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
A PART OF LOT 6, BLOCK C, LION'S RIDGE SUBDIVISION, ACCORDING TO THE PLAT
RECORDED JUNE 8, 1973 IN BOOK 229 AT PAGE 458, COUNTY OF EAGLE, STATE OF
COLORADO, SAID PART BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE WESTERLY LINE OF SAID LOT 6 WHENCE THE SOUTHWEST
CORNER OF SAID LOT 6 BEARS S 37 DEGREES 09 MINUTES 31 SECONDS E 40.54 FEET;
THENCE N 37 DEGREES 09 MINUTES 31 SECONDS W ON SAID WESTERLY LINE 103.01 FEET;
THENCE DEPARTING SAID WESTERLY LINE N 41 DEGREES 23 MINUTES 21 SECONDS E 7.25
FEET;
THENCE S 48 DEGREES 36 MINUTES 39 SECONDS E 53.16 FEET;
THENCE S 41 DEGREES 23 MINUTES 21 SECONDS W 4.90 FEET;
THENCE S 48 DEGREES 36 MINUTES 39 SECONDS E 47.80 FEET;
THENCE S 41 DEGREES 23 MINUTES 21 SECONDS W 22.80 FEET TO THE POINT OF
BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO.
The following are the requirements to be complied with:
(Requirements)Our Order No.
A L T A C O M M I T M E N T
Schedule B - Section 1
VC50022408.1
Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or
interest to be insured.
Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record,
to-wit:
Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due
and payable.
Item (d) Additional requirements, if any disclosed below:
THIS COMMITMENT IS FOR INFORMATION ONLY. WHEN ADDITIONAL INFORMATION IS
OBTAINED ABOUT THE PROJECT, THE COMPANY RESERVES THE RIGHT TO MAKE FUTHER
REQUIREMENTS AND/OR REVISIONS HERETO.
The policy or policies to be issued will contain exceptions to the following unless the same are disposed
of to the satisfaction of the Company:
(Exceptions)Our Order No.
A L T A C O M M I T M E N T
Schedule B - Section 2
VC50022408.1
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an
inspection of the Land or that may be asserted by persons in possession of the Land.
Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.
Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be
disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.
Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not
shown by the Public Records.
Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the Public Records or
attaching to the subsequent effective date hereof but prior to the date the proposed Insured acquires of record for
value the estate or interest or mortgage thereon covered by this Commitment.
(a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes
or assessments on real property or by the Public Records; (b) proceedings by a public agency tha may result in taxes
or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public
Records.
(a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof;
(c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by
the Public Records.
RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE
THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES
AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16, 1909, IN BOOK 48
AT PAGE 542 AND IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN
BOOK 93 AT PAGE 42.
RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE
UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED AUGUST 16,
1909, IN BOOK 48, AT PAGE 542 AND RECORDED DECEMBER 29, 1920, IN BOOK 93
AT PAGE 42.
EASEMENTS, RESERVATIONS, AND RESTRICTIONS AS SHOWN OR RESERVED ON THE
RECORDED PLATS OF A RESUBDIVISION OF LION'S RIDGE SUBDIVISION BLOCK C.
EASEMENT AGREEMENT AS CONTAINED IN INSTRUMENT RECORDED JULY 19, 1972 IN
BOOK 224 AT PAGE 824.
The policy or policies to be issued will contain exceptions to the following unless the same are disposed
of to the satisfaction of the Company:
(Exceptions)Our Order No.
A L T A C O M M I T M E N T
Schedule B - Section 2
VC50022408.1
12.
13.
14.
15.
16.
17.
18.
19.
20.
TERMS, CONDITIONS AND PROVISIONS OF UNDERGROUND RIGHT OF WAY EASEMENT AS
GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC. RECORDED SEPTEMBER 12,
1979 IN BOOK 290 AT PAGE 952.
TERMS, CONDITIONS AND PROVISIONS OF ENCROACHMENT EASEMENT AGREEMENT
RECORDED JANUARY 30, 1980 IN BOOK 298 AT PAGE 22.
TERMS, CONDITIONS AND PROVISIONS OF UNDERGROUND RIGHT OF WAY EASEMENT AS
GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, INC. RECORDED OCTOBER 15, 1980
IN BOOK 311 AT PAGE 210.
TERMS, CONDITIONS AND PROVISIONS OF QUIT CLAIM RECORDED DECEMBER 22, 1988
IN BOOK 497 AT PAGE 279.
TERMS, CONDITIONS AND PROVISIONS OF AGREEMENT FOR BUS SHELTER RECORDED MAY
15, 2002 AT RECEPTION NO. 795694.
TERMS, CONDITIONS AND PROVISIONS OF MASTER DEED RESTRICTION RECORDED JULY
17, 2003 AT RECEPTION NO. 840811.
TERMS, CONDITIONS AND PROVISIONS OF TIMBER RIDGE AFFORDABLE HOUSING PROJECT
- PROJECT AGREEMENT RECORDED SEPTEMBER 04, 2003 AT RECEPTION NO. 846636.
TERMS, CONDITIONS AND PROVISIONS OF ABSTRACT OF LEASE RECORDED NOVEMBER 21,
2003 AT RECEPTION NO. 858980.
DEED OF TRUST DATED JULY 17, 2003 FROM TIMBER RIDGE AFFORDABLE HOUSING
CORPORATION, A COLORADO NON-PROFIT CORPORATION TO THE PUBLIC TRUSTEE OF
EAGLE COUNTY FOR THE USE OF U.S. BANK NATIONAL ASSOCIATION TO SECURE THE
SUM OF $19,207,431.51, AND ANY OTHER AMOUNTS PAYABLE UNDER THE TERMS
THEREOF, RECORDED JULY 17, 2003, UNDER RECEPTION NO. 840810.
LAND TITLE GUARANTEE COMPANY and LAND TITLE GUARANTEE COMPANY - GRAND JUNCTION
DISCLOSURE STATEMENTS
Note: Pursuant to CRS 10-11-122, notice is hereby given that:
A) The subject real property may be located in a special taxing district.
B) A Certificate of Taxes Due listing each taxing jurisdiction may be obtained from the County
Treasurer's authorized agent.
C) The information regarding special districts and the boundaries of such districts may be obtained from
the Board of County Commissioners, the County Clerk and Recorder, or the County Assessor.
Note: Effective September 1, 1997, CRS 30-10-406 requires that all documents received for recording or filing
in the clerk and recorder's office shall contain a top margin of at least one inch and a left, right and bottom
margin of at least one half of an inch. The clerk and recorder may refuse to record or file any document that
does not conform, except that, the requirement for the top margin shall not apply to documents using forms
on which space is provided for recording or filing information at the top margin of the document.
Note: Colorado Division of Insurance Regulations 3-5-1, Paragraph C of Article VII requires that "Every
title entity shall be responsible for all matters which appear of record prior to the time of recording
whenever the title entity conducts the closing and is responsible for recording or filing of legal
documents resulting from the transaction which was closed". Provided that Land Title Guarantee
Company conducts the closing of the insured transaction and is responsible for recording the
legal documents from the transaction, exception number 5 will not appear on the Owner's Title
Policy and the Lenders Policy when issued.
Note: Affirmative mechanic's lien protection for the Owner may be available (typically by deletion
of Exception no. 4 of Schedule B, Section 2 of the Commitment from the Owner's Policy to be
issued) upon compliance with the following conditions:
A) The land described in Schedule A of this commitment must be a single family residence which
includes a condominium or townhouse unit.
B) No labor or materials have been furnished by mechanics or material-men for purposes of
construction on the land described in Schedule A of this Commitment within the past 6 months.
C) The Company must receive an appropriate affidavit indemnifying the Company against un-filed
mechanic's and material-men's liens.
D) The Company must receive payment of the appropriate premium.
E) If there has been construction, improvements or major repairs undertaken on the property to be purchased
within six months prior to the Date of the Commitment, the requirements to obtain coverage
for unrecorded liens will include: disclosure of certain construction information; financial information
as to the seller, the builder and or the contractor; payment of the appropriate premium fully
executed Indemnity Agreements satisfactory to the company, and, any additional requirements
as may be necessary after an examination of the aforesaid information by the Company.
No coverage will be given under any circumstances for labor or material for which the insured
has contracted for or agreed to pay.
Note: Pursuant to CRS 10-11-123, notice is hereby given:
This notice applies to owner's policy commitments containing a mineral severance instrument
exception, or exceptions, in Schedule B, Section 2.
A) That there is recorded evidence that a mineral estate has been severed, leased, or otherwise
conveyed from the surface estate and that there is a substantial likelihood that a third party
holds some or all interest in oil, gas, other minerals, or geothermal energy in the property; and
B) That such mineral estate may include the right to enter and use the property without the
surface owner's permission.
Nothing herein contained will be deemed to obligate the company to provide any of the coverages
referred to herein unless the above conditions are fully satisfied.
Form DISCLOSURE 09/01/02