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HomeMy WebLinkAboutDRB070032WIM 000M JOtITY CFVELOPME %1 T-.2-j ho-nn 6--f -'q Design Review Board ACTION FORM Department of Community Development 75 South Frontage Road, Vail, Colorado 81657 te1:970.479.2139 fax: 970.479.2452 web: www.vailgov.com Project Name: MEADOWLARK DEV. NEW SFR DRB Number: DRB070032 Project Description: FINAL APPROVAL FOR NEW CONSTRUCTION OF A SINGLE FAMILY RESIDENCE Participants: OWNER MEADOWLARK DEVELOPMENT PARTN01 /29/2007 PO BOX 6605 TYLER TX 75711 APPLICANT JOHN G. MARTIN, ARCHITECT LL01/29/2007 PO BOX 4701 EAGLE CO 81631 License: C000001843 ARCHITECT JOHN G. MARTIN, ARCHITECT LL01/29/2007 PO BOX 4701 EAGLE CO 81631 License: C000001843 Project Address: 4856 MEADOW LN VAIL Location: 4856 MEADOW LANE Legal Description: Lot: 12 Block: 7 Subdivision: BIGHORN 5TH ADDITION Parcel Number: 2101 - 131 - 0401 -1 Comments: SEE CONDITIONS BOARD /STAFF ACTION Motion By: Dantas Action: APPROVED Second By: Dunning Vote: 3 -0 -0 Date of Approval: 03/21/2007 Conditions: Cond: 8 (PLAN): No changes to these plans may be made without the written consent of Town of Vail staff and /or the appropriate review committee(s). Entry: 03/21/2007 By: RLF Action: COND 1. The applicant shall revise ail grading and site plans to ensure that grade does not exceed 2:1. 2. The applicant shall work with the Fire Department to resolve all remaining concerns. 3. The applicant shall return to the DRB for review and approval of trim paint colors before submittal of application for building permits. Cond: 0 (PLAN): DRB approval does not constitute a permit for building. Please consult with Town of Vail Building personnel prior to construction activities. Cond: 201 DRB approval shall not become valid for 20 days following the date of approval. Cond:202 Approval of this project shall lapse and become void one (1) year following the date of final approval, unless a building permit is issued and construction is commenced and is diligently pursued toward completion. Cond: 113 All development applications submitted to the Town after the effective date of Ordinance 26, Series 2006 shall be subject to the pending employee housing regulations in whatever form they are finally adopted; provided, however, that if the Town fails to adopt the pending employee housing regulations by April 15, 2007, this Ordinance shall not apply to such development applications. Cond: CON0008668 Fire sprinkler system required and shall comply with NFPA 13R(2002) and VFES standards. Cond: CON0008669 Monitored fire alarm system required and shall comply with NFPA 72(2002) and VFES standards. Planner: RACHEL FRIEDE DRB Fee Paid: $650.00 TO R 75 South Frontage Rd. Vail, Colorado 81657 970 - 479 - 2138/479 -2139 FAX 970 - 479 -2452 March 21, 2007 John G. Martin, Architect, LLC PO Box 4701 Eagle, CO 81631 Fax 970 - 328 -0593 Re: DRB07 -0032 & DRB07 -0033 Lot 12, Block 7, Bighorn 5t` Filing Lot 11, Block 7, Bighorn 5`h Filing Dear John, Department of Community Development Thank you for your applications for new construction on Lots 11 & 12, Block 7, Bighorn 5`h Filing. I am writing to inform you that your applications were approved by the Design Review Board with the following conditions: 1. The applicant shall revise all grading and site plans to ensure that grade does not exceed 2:1. 2. The applicant shall work with the Fire Department to resolve all remaining concerns. 3. The applicant shall return to the DRB for review and approval of trim paint colors before submittal of application for building permits. In addition to the above conditions, I would like to reiterate the following comments from the Public Works Department that I relayed to you via telephone this week: 1. Show grading that is to take place on the east side of Lot 12. 2. All boulder walls should be shown as boulders and not contour lines. 3. Provide stamped PE drawings for all walls 4' or higher, and for double and triple tier walls. 4. Provide public way permit and revocable right of way permit at time of building permit. 5. Provide a staging plan at building permit. 6. Call out 18" pipe with inlets elevations on all culverts. Do not hesitate to contact me with any questions or concerns. Best, Rachel Friede Planner, Town of Vail Jan 29 07 01:40p Gregory �i 8648888126 p.1 Ql/,2912007 10:25 9 ,0925;71 -_a.� ._-- _ TILE WAREHOUSE PAGE 03!03 i New Construction Ap ation for Design Review 14 d epartment of C0 nuntty Development y ��� }�j "T c 75 South Frontage Road, Vail, Colorado 61657 DW, OF A&L Get• 970.479.2128 fax: 970.479.2452 web: www.vailg0v.c0m General Information: Ail projects requiring design review must receive approval prior to submitting a building permit application. Please refer to time submittal requiremerrts for the particular approval that is requested. An application far Design Review cannot be accepted until all required information is received by the Community Development Department The project may also need to be reviewed by the Town council and /or the Planning and Environmental Commission. Design review approval lapsPS unless a building permit is issww and constncgon eomommoes wiitM" one year of ttme approval. 11 i ptisn of the Request: S •� S(N LIE fL.'r Lawtion of the Proposal. Lot' ? i Subdivision: f Physical Address: _ �I ` i S(y M pow t�- parcel No.: Z t 01 ► 3 t 0 (Contact Eagle Co. Assessor at 970 - 328 -9640 fbr parcel no.) zoning: _ �lefyt+4� �iGoy f4 Name(s) of Owner(s): % "f-[ Mailing Add �aC' `! Y IEV'!ff�' H CP ( t • 'r V4 [.• {v Phone: Om�rher(s] aiure(s): � 1 � +i Name of A Mailing Address: Phone- E-mail Address: Fax: 28 �S `� a Type of ReVw-w and Fee: ❑ Signs $50 Plus $1.00 per square foot of total sign area. 0 Conceptual Review New Construction No Fee $650 For construction of a new building or demo /rebuild. 0 Addition For an addition where square footage is added to any residential or commercial budding Qndudes 2S0 additions & interior corrversions), ❑ Minor Alteration (multi- family/comrnercial) $250 For minor changes to buildings and site improvements, such as, re- roofing, painting, window additions, landscaping, fences and retailing walls, etc. $20 For minor changes to buildings and Site improvements, such Q Minor Alteration (single -famlr /duplex) re-roofing, painting, window additions, landscaping, and ❑ Changes to Approved Plans retaining walls, etc. $20 For revisions to plans akeady approved by Planning Staff or time Design Review Board. ❑ Separation Request No Fee For Office �u�9e�. ly: �ti By: Fee Paid: �,^ Check No_: ® Q Meeting Date. Z - Z k —Q DRB NO.: \� Plannpr, Project No.: d ri �A J 0 0 W NEW CONSTRUCTION SUBMITTAL REQUIREMENTS a TOWN OF VA IL " General Information: The review process for new construction normally requires two separate meetings of the Design Review Board: a conceptual review and a final review. Applicants should plan on presenting their development proposal at a minimum of two meetings before obtaining final approval. I. SUBMITTAL REQUIREMENTS" �j All pages of Application is complete ❑ Checklist is completed and signed Stamped Topographic Survey* Site and Grading Plan* Landscape Plan* i�. Architectural Elevations* Exterior color and material samples and specifications. 1� Architectural Floor Plans* Lighting Plan* and Cut - sheet(s) for proposed fixtures Title report, including Schedules A & B to verify ownership and easements* E A ❑ Photos of the existing site and adjacent structures, where applicable. Jjej ❑ Written approval from a condominium association, landlord, and joint owner, if applicable ia Site - specific Geological Hazard Report, if applicable* ❑ The Administrator and /or DRB may require the submission of additional plans, drawings, specifications, samples and other materials (including a model) if deemed necessary to determine whether a project will comply with Design Guidelines or if the intent of the proposal is not clearly indicated. Please.rwhmilthree t-'9 copieroflhemalerialslroledwllh an aslerisIr * *For interior conversions with no exterior changes, the submittal requirements include a complete set of existing and proposed floor plans, a title report, and written approval from a condominium association, landlord, and joint owner, if applicable. I have read and understand the above listed submittal requirements: Project Name: fg ewL-/ L & &5 /-.,v( i Z_ Contractor Signature --7 Date Signed F: \cdev\ FORMS\ Permits \Planning\ DRB\ drb _new_construdion_1- 25- 2007.doc Page 3 of 14 11/23/2005 09/01/20,t5 01:96 FAX 01/17/2M6 08:50 5706413236 ART MEARS Jarwary 16, 2006 W. Chris IQdn YMooddm a Morass, Inc_ P.O. Box 3939 Val, CO 81656 Dow Mr_ Itlein: Artb W L ices, P.E., Inc. Mama Flsaeda 553 CoaNy Road 16 Guomsam. CO 91230 TdFam OM 641 3M6 fD 002/004 PAGE 01 As ym krR w. l wkftd props W you are irdwambd in buyrg looaberd at 48''.x2 Wadaw Who (Loft 11 and M in Vag. The purpose of ny left inspection was to evahtsls the polmial rothkM and *now avalencha hazards and to pray ride rritVoiort design cor#M a if rrseded. W tilts obsarvatiarrs and concltwions fellow. Lots 11 and 12 ant! an existing hmm are bcabad at to base of a shat. soap .mxdwast kdng s1ope (see Fig 1). INbltirer this slope nor tlra dbpw above 8pradme I "Web entilrriw on mdobomorenymm"am bmofts- MORMWer, due io the Slope hstiiraeion (Appr m M° - 361. the lade of t Wn or fioreed anchors and the te1de ncy for a beep anawmo w b fam on the dope dudnA amImm yeas, tnwfi snow avaieetdwe we possible SmO dab awderafhes wR begun new Me twio c dFa m a shag distance below the top of the elope r xo* 100 vverw ai 60 above She house- The framed maw slab can 101 4 F. MaimcdaftlacrombolhidtailmodI2. The sudww tts. because they Ad shat disWww wd thot reach high speeds or produas ftW 1 1, wt P Baud on a No- d m spesd at 5 mft (11 mph) and density of 150 iJlnre (9.4 lbeAtaj, on i v , I pressum of 80 09/01/2015 01 :36 FAX 0003 /004 61/17/2@66 08:50 9766413236 ART MEAR5 PAGE 02 NxWe an the uphill-tackV well of a bu ldrrg should be assumed. The disc ibuWn of this pressure is diagrermed in the fdotA ft serum of ttrls fit. The proposed budding aft at the tanse of the slope lies YAwn a 'bl%W or nadwaW j zard zone amor6V to Town of Vail ordnanae. The a xMtuted 80 itr* m, - pressure is riei helaw the t100 NWW upper ** of-the blue zaa. Furthentrare, bamuee the 8 oils has net been readred by an w4almidw OW there exists no Olen of wMenche dams, the rye um b*wvai appears to eea�eed 25 yms. Thus, bdh impad and bequency m No is detle* the arem as a blue zone are salilfisd. Bemuse the baddiim site Ilse wOdi a blue zonm slrucbxul nVIOPOon is required aeaor+cling 1b 12-21-109 eflo IM Vail Hazerd iitegui Oki ce. The ai8gOon design owtoapt shown in Fig 2 should be used ID prvled the tang and oodtpant - F"g 2 off -- �32 i The impala pressures shown are in awess of horizontal loads mquimed in normal bum„ exoeaft these by a hx*m of 2 b 3_ The bads decrease with height = sWm in fig 2_ However they act over a n *v&* n mll un am el+ee (10 lad nigh Iim" at 3 feet above grade), and probabhr would not be diflicutt to 4iot3ipoy ", * into deign. WhIls, dam, m*d alir•;n vAndovm how bow designed for WOO ii arddmcb nw "-U*uat engkmm at mm"W us bcsborrs acid the bads have been succwssfMy used in bung design. OP/01/2813 01:36 FAX x004/004 81/17/2006 88:58 9786413236 ART MEAPS PrVE 83 FbAj. it shoal be naW OW the n t Won rammrended in this r"on" wx t delAeQ avakochas tANwd any adjacwt pubk or pi**e pnVeMy, tom, or rWft of way. The n fta*m vA achy deamse exposure to the rare mmkmde to any persons below the house. Please von me if you have sny pinions. cc�*.W,ok~ Mhm i_ Meam, P.E. AvalarMdtie w" snow ArcIMS Map s C�auCou�tyC ,i52Y,/SArc?*•,t`a'£S!2! r _'Copyright 2005.Eagle County Governmen Disclaimer: This map was created by the Eagle County GIS Department. Use of this map should be for general purposes only. Eagle County does not warrant the accuracy of the data contained herein. Legend C3County Boundary Ae 1 -70 !Y usmy6 �y f US ".Vy 24 hwy82 !� hony1 31 townpoints f Streets Hydra Building Footprints OParcels Public Lands 3�-M 11-srs 9Li�e a�COQado 2004 Calor Aerial Photc Lighting Cut-Sheet — Meadow Lane Lot 11 and Lot 12 — East Vail 30-5992 Hubbardton Forge Lighting Outdoor Aluminum Wall Sconce 30-5992 Hubbardton Forge Lighting Outdoor Aluminum Wall Sconce • 12 inch aluminum banded outdoor sconce with glass options and two top plates • 12-1/21-1 x 6W x 5 inch projection with 12-1/2 x 6 inch backplate • One 100 -watt maximum medium socket • 3 x 10 inch closed top glass tube included • Shown in Natural Iron finish (20) with Opal glass Date.-- 31 I (-o t c) Legal description: Lot _La--_Block Filing_ Address 4 Sc `(� yY1 P ra mac, ON,mcr__ Phone ll$a Architect___�� Phone__• Zone district Proposed use Lot size 12 � Biuldab(c area L Y AB we Total GRFA + _ 7-7 09 • Primary GRFA + (425) (675 *) _ Secondary GRFA + (425) (675 *) _ � d Pro c low tcLnaininc )Z_ 675 = 425 credit plus 250 addition Does this request involve a 250 Addition? How much of the allowed 2S0 Addition is used with this request. Vl O\ • `� � � i a3�1 Site Coverage + Q Hcight (30)(33) Setbacks Front 20'.� Sides Rcar 15'_► Landscaping Minimum��� Rctaining Wall Heights 3 / 6 ' � ?� � yUf> C> ✓ Parkin g R t equired � 1 ---- ✓� Enclosed Garage Credit (300) (600) (900).(1200) ___�2 � Driveway o Permitted Slope /o Proposed Slope Complies with TOV Lighting Ordinance Ycs . %/ No Are finished grades less than 2 :1 (50 %) Ycs V No En\ironmcntaVHazards 1) Pcrcent Slopc ( < >30 %) 2) Floodplain 3) Wetlands 4) Water Course Sctback (30) (50) 5) Geologic Hazards S—no wAvalancIt c KkV b) Rock-fall dj�c ris Flow r�'k Previous conditions of approval (check property file): Is the property non - conforming? Describe: DESIGN REVIEW CHECKLIST Projcot: •` C'' ❑ SURVEV- S cal e ❑ FLOOR PLANS Benchmark Scale r Legal description µ " GRFA t' Lot Size 'y _.jo y 250 additional GRFA ,A • `'�sW trr�. Buildable Area Crawl\Attic Space Easements • " EHU , . Topography Cl BUILDING ELEVATIONS 100 yr. flood plain �L Scale Water Course Setback " ColorMatcrials Environmental Hazards Roof Pitch Trees ❑ LANDSCAPE PLAN VExisting trees Utility locations Spot elevations / Proposed trees V ❑ SITE PLAN Legend Scale MISCELLANEOUS Buildin g Height ht Condo Approval Encroachments Title report (A & B) 7 Se tbacks Utility . verification form Site Coverage Pliotdsofsitc ,� t , , r, . Eavcs/Overhangs (41) Building material samples —Z Decks/Balconics C.O. Verification y ' Garage connection Sun\Shadc Angles Site Grade\Slope Utilities (underground) Retaining Walls View Corridors, ✓ Fences Variances Parking/Garage Plat restrictions Turning Radius Driveway access and do Snow Storage Fire Acccss Land Title Guarantee Company Date: March 14, 2007 MEADOWLARK DEVELOPMENT PARTNERS, LLC, A COLORADO LIMITED LIABILITY COMPANY PO BOX 6605 TYLER, TX 75711 Enclosed please find the title insurance policy for your property located at BIGHORN 5TH ADDITION BLK:7 LOTS:I I & 12 VAIL CO 81657 The following endorsements are included in this policy: Deletion of Exceptions 1 -3 Deletion of General Exception 4 Please review this policy in its entirety. In the event that you find any discrepancy, or if you have any questions regarding your final title policy, you may contact Title Department Phone: 970-476-2251 Fax: Please refer to our Order No. V50015708 Should you decide to sell the property described in this policy, or if you are required to purchase a new title commitment for mortgage purposes, you may be entitled to a credit toward future title insurance premiums. Land Title Guarantee Company will retain a copy of this policy so we will be able to provide future products and services to you quickly and efficiently. Thank you for giving us the opportunity to serve you. Sincerely, Land Title Guarantee Company American Land Title Association OWNER'S POLICY (10- 17 -92) CHICAGO TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures, as of Date of Policy. shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the titre; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, the said CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Arty law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to n the occupancy, use, or enjoyment of the land; (i) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (m) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, lens, encumbrances, adverse claims, or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant (d) attaching or created subsequent to Date of Policy, or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: n the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or Iii) the transaction creating the estate or interest insured by this policy being deemed preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. Issued through the Office of: LAND TITLE GUARANTEE COMPANY 108 S FRONTAGE RD W #203 VAIL, CO 81657 970-076.2251 Authorized Signature AO.CHI (Form 8256) Cover Page 1 of 3 CHICAGO TITLE INSURANCE COMPANY �'oNSU I n 0. � =3 �oQo( v SEAL j Y CONDITIONS AND STIPULATIONS 1. Definition of Terms. The following terms when used in this policy mean: (a) "insured ": the insured named in Schedule A. and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including, but not limited to, heirs, dstributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant ": an insured claiming loss or damage. (c) "knowledge" or "known ": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (d) "land ": the land described or referred to in Schedule A, and improvements affixed thereto which by law constitute real property. The term "land" does not include any property beyond the lines of the area described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the laud is insured by this policy. (e) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument. (f) "public records ": records established miler state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1(a)(W) of the Exclusions from Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketabiity of the title": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virture of a contractual condition requiring the delivery of marketable title. 2. Continuation of Insurance After CopyMnce of Title. The following coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so hug as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of arty purchaser from the insured of either n an estate or.interest in the land, or (ul an indebtedness secured by a purchase money mortgage given to the insured. 3. Notice of Claim to be Given by Insured Claimant. The insured shall notify the Company promptly in writing () in case of arty litigation as set forth in Section 4(a) below, n QQ in case knowledge shall come to an insured hereunder of any claim of titre or interest which is adverse to the title to the estate or interest as insured, and which might cause loss or damage for which the Company may be liable by virtue of of this policy, or (ii) if title to the estate or interest as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that faikre to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. Defense and Prosecution of Actions; Duty of Insured Claimant to Cooperate. (a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect lien or encumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be liable for and will not pay the fees of any other counsel. The Company will not pay arty fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost to institute and prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be Gable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. AO.CHI.2 Cover Page 2 of 3 (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of competentjurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid n in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and n in any other lawful act which in the opinion of the Company may be necessary or desireable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. Proof of Loss or Damage. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, inducting any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether hearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim. 6. Options to Pay or Otherwise Settle Claims: Termination of Liability. In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured under this policy, other than to make payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Pryor Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. n to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Comparry is obligated to pay; or i to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs rom or u), the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 7. Determination, Extent of Uabiity and Coinsurance. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the Mast of- 01 the Amount of Insurance stated in Schedule A;'or, (i) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this policy is subject to the following: 0 where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (il where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shag not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Comparry will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. Apportionment. If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of arty improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. Limitation of Liability. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of umnarketabiity of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In time event of any litigation including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Comparry shall not be liable for loss or damage to arty insured for liability voluntarily assumed by the insured in settling airy claim or suit without the prior written consent of the Company. 10. Reduction of Insurance; Reduction or Termination of Liability. All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. 11. Liability Noncumulative. it is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Comparry may pay under arty policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedula A, and the amount so paid shag be deemed a payment under this policy to the insured owner. 12. Payment of loss. (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. AO.CHI.3 Cover Page 3 of 3 13. Subrogation Upon Payment of Settlement (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shag permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a clakn does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and remedies in the proportion which the Company's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shag exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. @1 The Company's Rift Against Noninsured Obligors. The Company's right of subrogation against noninsured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding arty terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. Arbitration. Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, airy service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance of $1,000,000 or less shall be arbitrated at the option of either the Company or the insured. AN arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Wiles in effect at Date of Policy shag be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorney's fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the sites of the land shag apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. Liability Limited to this Poicy: Policy Entire Contract. (a) This policy together with all endorsements, if arty, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. Severability. In the event arty provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. Notices, Where Sent. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company at the issuing office or to: Chicago Title Insurance Company Claims Department 171 North Clark Street Chicago, Illinois 60601.3294 LTG Policy No. CTAI50015708 Form AO /CHI Chicago Policy No. 72106 - 1405316 Our Order No. V50015708 Schedule A Amount $1,550,000.00 Property Address: BIGHORN 5TH ADDITION BLK:7 LOTS: 11 & 12 VAIL CO 81657 1. Policy Date: October 18, 2006 at 5:00 P.M. 2. Name of Insured: MEADOWLARK DEVELOPMENT PARTNERS, LLC, A COLORADO LIMITED LIABILITY COMPANY 3. The estate or interest in the land described or referred to in this Schedule and which is covered by this policy is: A Fee Simple 4. Title to the estate or interest covered by this policy at the date hereof is vested in: MEADOWLARK DEVELOPMENT PARTNERS, LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The land referred to in this policy is described as follows: LOTS 11 AND 12, BLOCK 7, BIGHORN SUBDIVISION, FIFTH ADDITION, ACCORDING TO THE RECORDED PLAT THEREOF, COUNTY OF EAGLE, STATE OF COLORADO. This Policy valid only if Schedule B is attached. Land Title Guarantee Company Representing Chicago Title Insurance Company Form AO /CHI Chicago Policy No. 72106 - 1405316 Our Order No. V50015708 Schedule B LTG Policy No. CTAI50015708 This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: General Exceptions: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. 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. 5. 2006 TAXES AND ASSESSMENTS NOT YET DUE OR PAYABLE. 6. 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 SEPTEMBER 13, 1902, IN BOOK 48 AT PAGE 491. 7. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED SEPTEMBER 13, 1902, IN BOOK 48 AT PAGE 491. 8. RESTRICTIVE COVENANTS, WHICH DO NOT CONTAIN A FORFEITURE OR REVERTER CLAUSE, BUT OMITTING ANY COVENANTS OR RESTRICTIONS, IF ANY, BASED UPON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, FAMILIAL STATUS, MARITAL STATUS, DISABILITY, HANDICAP, NATIONAL ORIGIN, ANCESTRY, OR SOURCE OF INCOME, AS SET FORTH IN APPLICABLE STATE OR FEDERAL LAWS, EXCEPT TO THE EXTENT THAT SAID COVENANT OR RESTRICTION IS PERMITTED BY APPLICABLE LAW, AS CONTAINED IN INSTRUMENT RECORDED NOVEMBER 25, 1966, IN BOOK 175 AT PAGE 445. 9. EASEMENTS, CONDITIONS, COVENANTS, RESTRICTIONS, RESERVATIONS AND NOTES ON THE RECORDED PLAT OF BIGHORN SUBDIVISION, FIFTH ADDITION. 10. DEED OF TRUST DATED OCTOBER 11, 2006, FROM MEADOWLARK DEVELOPMENT PARTNERS, LLC, A COLORADO LIMITED LIABILITY COMPANY TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF BANK OF AMERICA, N.A. TO SECURE THE SUM OF $1,240,000.00 RECORDED OCTOBER 18, 2006, UNDER RECEPTION NO. 200628479.