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Home My WebLink AboutADM100019 ��^•, � 1ti,�•`r, ''�_ qIl l� �4�1�`4F�� ADMINISTRATIVE ACTION FORM Department of Community Development 75 South Frontage Road Vail, CO 81657 tel: 970-479-2138 fax: 970-479-2452 web: www.vailgov.com Project Name: AMENDED PLAT Application Type: CondThPl ADM Number: ADM100019 Parcel: 2101-081-1100-9 Project Description: AMENDED CONDOMINIUM PLAT FOR NORTHWOODS Participants: OWNER ESPEJO, MELITA MONICA 12/06/2010 BOSQUE DE ALMENDROS 203 BOSQUES DE LAS LOMAS MEXICO 11700 DF APPLICANT NORTHWOODS CONDOMINIUM ASSOC 12/06/2010 600 VAIL VALLEY DRIVE VAIL CO 81657 Project Address: 600 VAIL VALLEY DR VAIL Location: Legal Description: Lot: Block: A Subdivision: NORTHWOODS CONDOMINIUMS Comments: See conditions BOARD/STAFF ACTION Motion By: Action: STAFFAPR Second By: Vote: Date of Approval: 12/10/2010 Meeting Date: 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). Planner: Warren Campbell DRB Fee Paid: $100.00 � � � � � , � ;� � � � � � �__ . Department of Community Development �� °`�� 75 South Frontage Road °< � ��° � � �.��.. �� ' _�� Vail, Colorado 81657 *°� �� j �: Tel: 970-479-2128 � � ��,�y � M,�,v= Fax�: 970-479-2452 �'�' � � $'� " '�" Web: www.vailgov.com ��p� � �� Development Review Coordinator � �� ,�- �� , � � " ° �� ,,. e� < - _. e _., ;��,o.. Administrative Application Condominium and Townhouse Plat General Information: Condominium and townhouse plats which do not constitute "conversions" from rental as de- fined in Section 13-7-2, Definitions, Vail Town Code may be approved by the administrator, subject to review by other Town of Vail departments. Please see Section 13-6, Condominium and Townhouse Plats, Vail Town Code for more de- tailed information. Vail Town Code can be found on the Town's website at, Fee: $100 Recording Fees: Please visit the Eagle County website for : - . , >. , ; _ ,_ the most up-to-date recording fees and check with your planner prior to submitting the payment. A check written out to the Eagle County Clerk and Recorder is required to be submitted once the plat has been approved by the Planning and Environmental Commission and prior to the recording of the plat. Description of the Request: Amended Condominium Plat Physical Address• 600 Vail Valley Drive Parcel Number: 2101-081-11-009 (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.) Property Owner• Northwoods Condominium Association Mailing Address: 600 Vail Valley Drive Vail, CO 81657 Phone• 970-476-3486 Owner's Signatu • Primary Contact/ w r Representative: Sam Ecker Mailing Address: Po ox 15 Avon, CO 81620 Phone: 970-479-8698 E-Mail: sam@gorerange.net 970-479-0055 Fax• DEC o 2 2U�Q �� TOWN OF VAIL For Office se Only: Cash_ CC: Visa/ MC Last 4 CC # A th # Check# /� � '�'r` Fee Paid: -��CX).Uc: Received From: _�b�f'�1��;,d, C,n�o�n;n;Na, f�1, Meeting Date: PEC No.: f��fl(l I O �O l9 Planner: �� ProjectNo: 1-'RTlO-0`1g9 ' Zoning: Land Use: Location of the Proposal: Lot: Block: Subdivision: U N P L�r r � oi-o�-io ****************************************�***********************++************+************* TOWN OF VAIL, COLORADOCopy Reprinted on 12-03-2013 at 10:42:32 12/03/2013 Statement **********�***************�******************************************+********************** Statement Number: R100001965 Amount: $100. 00 12/06/201011:40 AM Payment Method: Check Init: DR Notation: CK# 1375 NORTHWOODS CONDO ASSN ----------------------------------------------------------------------------- Permit No: ADM100019 Type: Administrative Parcel No: 2101-081-1100-9 2101-081-1302-0 Site Address: 600 VAIL VALLEY DR VAIL Location: Total Fees: $100.00 This Payment: $100.00 Total ALL Pmts: $100. 00 Balance: $0.00 *************************************************+****************************************** ACCOUNT ITEM LIST: Account Code Description Current Pmts -------------------- ------------------------------ ------------ PV 00100003112500 Administrative Fee 100.00 ----------------------------------------------------------------------------- J Land Title Guarantee Company Date: October 05, 2010 BANK OF AMERICA, N.A. 700 LOUISIANA, 4TH FLOOR HOUSTON, TX 77002 ATTN: MS. NANCY ROACH Re: Your Ref. Number Enclosed please find your Land Title Guarantee Company loan policy insuring the property at 600 VAIL VALLEY DRNE AKA UNIT F-4, BLDG F NORTHWOOD CONDOS VAIL CO 81657 and owned by F8CORP LLC A COLORADO LIMITED LIABILIT'Y COMPANY The following endorsements are included in this policy: Delelion of General Exceptions 1-4 Endorsement Alta 9 Endorsement Alta 4 (115.1) Endorsement Alta 8.1 Endorsement 103.1 Please review this policy in its entirety. In the event that you find any discrepancy, or if you have any questions or comments regarding your policy,you may contact Title Denartment Phone: 970-476-2251 Faac: 970-476-4534 Please refer to our Order No. VTF50028327 We at Land Tifle Guarantee Company believe in delivering quality products that meet your needs, and our goal is to provide the most efficient, reliable service in the industry. Thank you for giving us the opportunity to serve you! Sincerely, Land Tifle Guarantee Company ' Amerrcan Land Title Association LOAN POLICY (06-17-06J CHICAGO TITLE INSURANCE COMPANY ANY NOTICE OF CWM AND ANY OTHER NOTICE OR STATEMENT IN WRITING REQUIRED TO BE GNEN TO THE COMPANY UNDER THIS POLICY MUST BE GNEN TO THE COMPANY AT THE ADDRESS SHOWN IN SECTION 17 OF THE CONDRIONS. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS,CHICAGO TITLE INSURANCE COMPANY,a Misswui corporation(the^Com��y��i��az of Date of Pdicy and,to the extem stated�Covered Risks 11,14 and 14,after Date of PoNcy,against bu a damage not exceedng the pnquit of Insurance,susUined or incuved by the Inwred by reason of: �• rrtk bei�9 vested other than as stated in Schedule A. 2. My defect in or Fen or encumbrance on the title;ms�m,ered Risk includes but is rat fimited to inwrance against loss from (a)A defect in the Trtle caused by n forgery,frwd,undue irr�uence,duress,incompetencY,incaPaGtY,a impersonation; (y failure of anY P�a�ty to have authorized a transfer or conveyance; (e)a docummt affecdny Trtle rat properly c�eated,executed,witnessed,sealed,xwpwl�y�,�p�rized,or delivered; [rv)failwe to perform thuse acts necessary to aeate a document by electronic means authaized by law; (�a daumerrt executed under a falsified,expired,or otf�erwise invalid power of attomey; (h�a ducummt not properly filed,recorded,or indexed in the Public Records includmg failure to pertorm ihose acts by elecVonic means authorized by law;or (vi)a defectivejudiaal or adminisVative proceediny. @)The lien of real estate taxes or assessmenu imposed p��TiUe by a govemnental a�Uwrit due or (c)M enaoachm Y paYable,but unpaid. Y ent.encumbrance,viola6on,varia�on,or adverse Grcumstance affecting the TiUe that would be disclosed by an xcurate and complete land survey of the La"d.The term"enc►oachmmY'includes encraachmmts of ebsting improvemenu located on the Land onto adjoining land,and encroactsnents onto the Land of ebsUng improvemems located on adjoinirg land. 3.Unmarketable Trtle. 4.No right of xcess to and from the Land, 5.The violation or enfacement of arry law,ordinance,pemiit,or gover�nental regtdation(uiduding Uqse relating to building and zoniru�)resVicting,regulatlrg,prohibiting,or rNating to (a)the occupancy,use or ergoyment of the Land; @)the character,d�mensions,or location of any imprmement erected on the Land; (c)the wbdivision of land;or (dj envirormeMal protection if a notice,describirg any part of the Land,is recorded in the Public Records setting forth the violation or intention tu errforce,but oryy to the extent of the vidation or enforcement referred ro in that notice. 6•M enforcemeM action based on the exercise of a govemmental pdice power not covered by Covered Risk 5 if a notice of the enforcemerrc action,describirg airy part of the Laod,is rewrded in the Public Recads,but only ro the extmt of the enforcemmt referred to in that notice. 7.The exercise of the rights of eminent domain if a notice of the exercise,describing any part of the Land,is recorded in the Public Records. 8.My taking by a govemmental body that has acuRed and is binding on the rights of a purchaser for value witlwut Knowledye. 9.The invalidity or unenfaceability of the lien of the Insured Mortgage upon the TiUe.This Covered Risk includes but is not limited to inwrance against loss from any of the followirg impairing ihe Gen of the Inwred Mortgage (a)fargery,fraud,mMue ir�luence,duress,incompetency,incapacity,or impersonation; @)f�lure of arry person or Entity to have authorized a Vansfer ar conveyance; (c)the Inwred Mortgage not being properly created,executed,witnessed,sealed,acknowledged,notarized,or delivered; (�failure to pertorm those acts necessary ta create a document by eleciroric means authorized by law; (e)e dncume�rc executed under a falsified,expired,a otherwise imralid power of attort�ey; (�a daumeirc not prop�ly filed,recorded,or indexed in the Public Records includirg failure to perform tlpse acts by elecVOnic means authorized by law;or (g)a defectivejudiaal or administrative proceeding. 10.The lack of priority of the lien of the Inwred Mortgage upon the TiUe over a�ry other lien or encumbrance. 11.The lack of priority of the lien of the Insured Mortgage upon the TiUe (a)as securiry for each and every advance of proceeds of the loan secured by the InsurQd Mortgaye over any statutory lim for services,labor,or material arising from consVuction of an improvement or worlc related to the Land when the improvemeM or work is either �conVacted for ar commenced on or before Date of Policy;or n comracted for,commmced,ar conUnued after Date of Pdicy if the consUuction is financed,in wfrole or in part,by praeeds of the loan secured by the I�ured Mortgage ihat the Inwred has advanced a is obligated on Date of Policy to advance;and @)over the lien of airy assessments(or sVeet improvements under consUUCtian or completed at Date of Policy. 72.The irrvalidity or unenforceability of any assi�ment of the Insured Martgage,provided the auignmeM is shown in Schedule A,or the failure of the assignment shown in Schedule A to vest title to the Insured Mortgage in the named Insured assignee free and dear of aA liens. �ss�ed tlrough the Office of: CHICAGO TITLE INSURANCE COMPANY s�� LAND TITLE GUARANTEE COMPANY 108 S FRONTAGE RD W#203 VAIL,CO 81657 970-47G2251 � ��NSUR,yN . ��:OgPO�..°� �y� 7 / y/JJ�) �J� c°:c, r�:o /�� j�(/ L..�- `��'- �`«.. � . U' � :v � Z: ;D Authoriled Signalure ��., SEAL ` � �''�.. .=' � **** � AL.CHI.06(ALTA Ofr17-O6)Cover Page 1 of 5 ; , , 13.The invalidity,unenforceability,lack of prarity,or avadance of the lien of the I�ured Mortgage upon the Trtle (a)rewlting from the avaidance in whole or in part,or from a cwrt order providing an aRemative remedy,of airy Vansfer of all or any part of the title to or any imerest in the Land accurring pria to the Vamaction aeatlrg the fien of the Insured Mortgage because that pria Vansfer constiGr[ed a frauduleM a preferential Vansfe�under federal baNwptcy,state ir�sohrency,or similaz creditas'ri�ts laws;or (b)because the Imured Mortgage constiwtes a preferential transfer under federal bankruptcy,state insoNency,or similaz creditas'rights laws by reason of the failure or its recading�the Public Recads �to be Umely,or n to impart notice of its eristence to a purchaser for value or to a judgnent or lien creditor. 14.My defect in or lien or encumbrance on the TiUe or otf�er matter induded in Covered Risks 1 through 13 that has been created or attad�ed or has been filed or recorded in the WbGc Recads wbsequent to Date of Policy and prior to the recor�6ng of the Imured Mortgage in the Public Records. The Compairy will also pay the costs,attomeys'fees,and expenses incurted in defense of arry matter insured against by this Pdicy,but only to the extent provided in the Conditions. EXCLUSIONS FROM COVERAGE The fdlmMng matters are expressly exduded from the coverage of this policy,aiM the Company will not pay loss or damage,costs,attomeys'fees,or expenses that arise by reason of: 1.(a)My law,adinance,permit,w govemmental regulation(ncluding those relating to bu�7ding and zorin�restrictirg,regulating,prohibitirg or relating[o n the occupancy,use,or enjoyment of the Lard; n the character,dimeraions,ar location of arry improvemeM erected an ihe Land; (i)the wbdrvision of land;a (rv)mviroianental protection; a the effect of any violation of tliese laws,ardinances,or govemmental regulatiais.THs Exdusion 1(a)dces not modify or limi[the coverage provided under Covered Risk 5. @)My govemm�tal pdice power.This 6cdusion 1@)dces not modify or fimit the coverage provided under Covered Risk 6. 2.Ri�ts of eminent domain.This Exdusion dces not modify or limit the cwerage provided under Covered Risk 7 or 8. 3.Defecu,Gens,encumbrances,adverse daims,or other matters (a)aeated,suffered,assumed,or ageed to by the Insured Claimam; @)not Krawn to the Comparry,not recorded m the Public Records at Date of Policy,but Krwwn to the Insured Claimarn and rat disclosed in writing to the Comparry by the I�ured Claimant prior ro the date the Inwred Claimarrc became an Inwred under this policy; (c)rewldng in no loss or damage to the Inwred Claimant; (t�attaching or ueated wbsequent to Date of Policy(however,this dces rwt madify or limit the coverage provided under Covered Risk 11,13 or 14);or (e)rewtting in bss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4.Unenforceabifity of the lien af the Imured Mortgage because of the inability or failure of an Insured m comply with applicable doing-business laws of the state where the Land is siwated. 5.Imralidfty or unmforceability in whole ar in part of the lien of the Inwred Mortgage that arises out of the Vansaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or wtlrio-lending law. 6.My daim,by reason of the operation of federal bankruptcy,state insolvency,or similar aedtors'rights laws,that the VansacUOn creating the lien of the Insured Martgage,is (a)a fraudulmt corneyance or fraudulent vansfer,or (b)a preferen0al Vansfer for any reason not stated in Covered Risk 13(b)of Utis pdicy. 7.My lien on the Trtle for real estate taxes or assessments imposed by govertimen[al auUiority and created w attaching between Date of Pdicy and[he date of recordirg of the Inwred Mortgage in the Public Records.This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b). CONDITIONS 1.DEFINITION OF TERMS The foNowing terms when used in Urs polky mean: (a)"ArtrouM of Inwrance":The amaM stated in SchedWe A,as may be increased or deaeased by endorsemeirt to this policy,inaeased by Section 8@)ar deaeased by Section 10 of Mese Conditions. (b)"Date of Pdicy":The date designated as"Date of Policy"in Schedule A. (c)"Entity":A corporalion,parU�ership,Vust,limited liability comparry,or otf�er similar legal entity. (�"Indebtedness":The obligation secured by the Insured Mortgage including one evidmced by elecVOnic means authorized by law,and if that obligation is the payment of a debt,the Indebtedness is the sum of ()the amount of the prinapal disbursed as of Date of Policy; n the amount of the principal disbursed wbsequent to Date of Policy; (ii)the consUuction loan adv�ces made subsequent to Date of Policy for the purpose of financirg in whole or in part the canswction of an improvement to the Land or related to the Land that the Insured was and continued to be obligated to advance at Date of Pdicy and at the date of the advance; �rv)imerest on the ban; (v)the prepayment premiums,exit fees,and other similar fees or penal[ies allawed by law; (�)the expenses of foreclosure and any otl�er costs of mforcement; (vi)the amourrcs advanced to azsure compliance with laws or to protect the lien ar the priority of the lien of the Insured Mortgage before the acquisition of the esWte or interest in the TiUe; (vii)the amourrts to pay taxes ard'msurance;and (a)the reasonable amounu expended to prevent deterioration af improvemenu;but the Indebtedness is reduced by the toUl of aa payments and by any amount fa�ven by an Inwred. (e)"Insured":The Inwred named m Schedule A. AL.CHI.06.2 Cover Page 2 of 5 �The term"Insured"also includes I (A)the owner of the indebtedness and each successar in ownership of the Indebtedness,whether the owner or successa oHms the Indebtedness for its own accaud of as a uustee or other fiduciary,except a wccessa wta is an obligor under the provisons of Section 12(�of I Uxse Conditions; (B)the person w Entity who has"contrd"of the"transfer�le record,"if the Indebtedness is evidenced by a"Vansferade recard,"as these terms are �fined by applicable electraiic Vansactions law; (C)wccessors to an Insured by dissdutlon,merger,consolidaUOn,distribution,ar reagariution; (D)wccessas to an Insiued by its conversion to another kind of EMity; (�a gantee of an Inwred under a deed delivered without paymerrt of actual v�uade wnsideration carvepng the TiUe (1)if the stock,shares,memberships,or otf�er equity mteresu of the grantee are whdly-owr�ed by the named Insured, (2)if the gantee wholty owns the names Inwred,w (3)if the�arrcee is wholly-owned by an affiliated Entity of the named Insured,provided the affi7iated Entity and the named Insured are both wholly-0wned by the same person or Entity: (�airy govemment agency or instrumentality that is an insurer or guarantor under an inwrance contrxt or guaraMy insurirg or guarameeirg the Indebtedness sewred by the Insured Mortgage,a any part of it,whether named as an Insured w no4 (u�Nfith regard to(A),(B),(C),(D),ard�reservirg,however,all rights ard defenses as to any wccessor that the Company would have had against any predecessor Inwred,unless the successor acquired the Irdebtedness as a purchaser for value without Knowledge of the asserted defect,fien, er�cumbrance,a other matter inwred against by this policy. (�"I�ed Claimarrc":M I�ured daiming loss or damage. (�"Inwred Mortgage":The Mortgage described m paragraph 4 of Schedule A. (h)"Knowledge"or"Known":Actual knowledge,not constructive knowledge ar natice that may be imputed to an Insured by reason of the PubGc Records or any other recads that impart consmrctive notice of matters affecting the Tnle. n"Lard":The lard described in Schedule A,and affixed improvements that by law constitute real property.The tertn"Land"does rat include any property beyond the Imes of the area desaibed in Schedule A,nor arry right,tiUe,interest,estate,or easement in abuttirg sVee[s,roads,avenues,alleys,lanes,ways, a waterways,bu[this dces not modify or limit the erten[that a right of access to and from the Land is insured by Uds policy. Q"Mortgage":Mortgage,deed of ws4 Uust deed,or other security inswme�rc,iocluding one evidenced by elecVOnic means authaized by law. (k)"Pudic Records":Recads established under state statutes as Date of Pdicy for the purpose of impartirg consVUCtive notice af matters relatirg to real property to purchasers for value and without Knowledge.With respect to Covered Risk 5(�,"Public Records"shall also include environmental protections liens filed in the records of the clerk of the United States DisVict Caut for the district where the Land is located. m"Title":The estate or interest desaibed in Schedule A. (m)"Umnarketable Title":TNe affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Tltle or lender on the Trtle or a prospective purchaser of the Inwred Mortgage to be released from the ob6galion to purchase,lease,or lend if there is a conVactual condition requiring the delivery of marketade tiUe. 2.CONTINUATION OF INSURANCE The wverage of this policy shall continue in force as of Date of Pdicy in favor of an Inwred after acqusition of the TiUe by an I�ured or after conveyance by an Insured, but ody so long as the Insured retai�x an estate w interest in ihe Land,or hdds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured,a only so long as the I�ured shall have liadlity by reason of warrarrties in any Vansfer or comreyance of the Title.This policy shall not continue in force in favor of any purchaser from the Insured of either n an estate or interest in the Land,or n an obligaaon secured by a purchase money Mortgage given to the Insured. 3.NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The Insured shall noUfy the Compa�ry pranpUy in writirg(�in case of any litigation as set forth in Section 5(a)of tf�ese Condilions,(i)in case Knowledge shaA come to an Insured of any cl�m of tiUe or iMerest that is adverse to the Trtle or the lien of the Insured Mortgage,as insured,and that migM cause loss or damage fm which the Comparry may be liable by virtue of this policy,or(i'�rf the TiUe or the lien of the liuured Mortgage,as inwred,is rejected as Unmarketable TiUe.If the Compa�ry is prejudiced by the failure of the Inwred Claimarrt to provide prompt notice,the Company's liability to the Inwred Claimant under the policy shall be reduced to the extent of the prejudice. 4.PROOF OF LOSS In the event the Campany is unable m determine the amount of loss or damage,the Company may,at iu option,require as a condiUon of payment that the Inwred G�maM fumish a signed proof of loss.The proof of loss must describe the defect,lien,encumbrance,or other matter inwred against by this policy that consiwtes the basis of bss or damage and shall state,to the extent possible,the basis of cakulating the amouM of the loss a damage. 5.DEFENSE AND PROSECUTION OF ACTIONS (a)Upon wri[ten request by the Insured,and subject to the options conUined in Section 7 of these CondiUons,[he Company,at iu own cost and without unreasonade delay,shall provide for the defmse of an insured in litigation in which arry third party asserts a claim covered by this pdicy adverse[o the Insured.This odigation is Nmited to a�ty those stated wuses of action alle�ng matters insured agai�t by Urs policy.The Company shall have the ri�t to select counsel of its cfaice(subject to the rigM of the Insured to object for reasanable cause)to represem the Insured as to those stated causes of action. It shall not be liable for and will rat pay the fees of any other counsel.The Company will not pay any fees,costs,or expenses incurred by the Inwred in the defense of Uase causes of action that allege matters rrot insured against by ihis policy. �)The Comparry sha9 have the right,in addition m the options contained in Section 7 of these Conditions,at iu ovun ast,to institute and prosecute arry actian or praeedirg or to do any other act that in its opinion may be necessary or desireable to establish the TiUe w the lien of the Insured Mortgage,as insured or to prevent or reduce loss or damage to the Inwred.The Company may take any appropriate action under the terms of this pdicy,whether or not is shall be liade to the Ir�aed.The eace�cise of these rights shall not be an admission of liability or waiver of any provision of this policy.lf the Company exercises its rights under tliis wbsection,it must ro do diligenUy. (c)Whenever the Comparry brings an action or asserts a defense as required w permitted by this policy,the Comparry may purwe the litigation m a final detemdre5m by a court of competen[jurisdiction,arM it expressty reserves the right,in i[s sde disaetion,[o appeal any adversejudgneM or order. AL.CH1.06.3 Cover Page 3 of 5 . t 6.DUTY Of INSURED CLAIMANT TO COOPERATE (a)In all qses where Uis policy permits a requires the Compairy to prosecute w provide for the defense of any ac6on or proceeding and any appeals,the Insured shall secure to the Comparry the right to so prosewte or provide defeme in the action or proceeding,induding the right to use,at iu option,the name of the Im�red for this purpose.Whenve�requested by the Compairy,the Inwred,at the Company's expense,shall give the Comparry all reasonaWe aid(�in se�uin9 evidence.ubtainiog witnesses,prosearting or defenr6ng the actim or proceedng,w effecting setUemem,ard n in any other lawful act that in the opiirai of the Company may be necessary a desirable to estabfish the Trtle,the lien of the Insured Mortgage,or any other matter as inwred.If the Comparry is prejudiced by the f�pue of the Insured to furnish the required cooperatan,the Company's obligatiom to the Insured under the policy shall terminate,induding any Iiability or abfigaUOn to defend,prosecute,or continue arry litlgation,with regard to tlie matter w matters requiring wch caoperation. @)The Company may reasonaDty require the Inwred Claimant to submit ro examniatlon under oath by arry authorized represemative of the Comparry and to produce for examination,inspection,and copying,at such reasonaMe times and places as may be desig�ated by the authorized represenWtive of the Comparry, all records,in whatever medium maiMained,induding books,ledgers,checks,memorar�da,correspondence,reports,e�mails,disks,tapes and videos whether bearing a date before or after Date of Policy,that reasonably pertain to the bss or damage.Further,rf requested by any authorized represerrtative of the Compairy,the Inwred Cltimant shall gram its permission,in writing,for any authorized representative of the Compairy to examine,inspect,ard copy all of these records in the astody a conVOl of a third party that reasonably pertain to the loss or damage.All informatlon designated as confidential by the I�ured GaimaM provided ta the Compairy purwant to this Section shaN not be disdosed to others uMess,in the reasonablejudgment of the Company,it is necessary in the admirisVation of the daim.F�lure of the Insured Claimairt to wbmit for examination under oath,produce arry reasonably requested infamation,w gairt pemNSSian to sewre reasonably necessary i�amation from Uird parties as required in this subsection,udess prohibited by law or�vermnerrtal regulation, shall terminate any liabi5ty of the Comparry under this policy as to that claim. 7.OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;TERMINATION OF LIABILITY In case of a daim under tfus policy,the Company shall have the following additional options: (a)To Pay or Tender Paymmt of the Amount of Inwrance or to Purchase the Indebtedness. �To pay or tender payment of the Amount of Insurance urder this policy together with arry costs,attomeys'fees,and expensed inarred by the Irsured Claimarrc that were authaized by the Company up to the time of payment or tender of payment and that the Company is abliated[o pay;or n Ta purchase the Indebtedness for the amount af the Indebtedness on the date of purchase,togetl�er with arry costs,attomeys'fees,and expenses incurred by the Insured Claimant that were authwized by the Comparry up to the time of purchase and that the Company is oWigated to pay. When ihe Company purchases tlie Indebtedness,the Inwred shall Vansfer,assign,ard corney to the Compa�ry the Indebtedness and the I�ured Mortgage,together with any collateral securiry. Upon the exercise by the Company of either of the options provided for in subsections(a)�w(),all liability and odigations of the Company to the Inwred under Uris policy,other than to make the payrt�ent required in those wbections,shall tertrenated,induding arry liability or obligatian to defend,prosecute,a con[inue airy litigatian. (b)To Pay or Otherwise Settle With Parties Other Than the Inwred a wth the Insured Claimant. (�to pay or otherwise setUe with other parties for or in the namea of an Insured GaimaM any claim i�aured against under this policy.In addition,the Company will pay arry costs,attomeys'fees,and expenses incurred by the Insured GaimaM that were authorized by the Comparry up to the time of paymeirt ard that the Company is obligated to pay;w (i)to pay or otl�erwise settle with the Insured Claimant the lass or damage provided for under this policy,together with any costs,attameys'fees,ard expenses incurred by the Insured Claimarn that were authorized by the Company up to the time of payment and that the Company is oMigated to pay. Upan the exerase of the Canpany of either of the optio�provided for in wbsections(b)�or(),the Comparry's obligations to the Inwred under Uus policy fw the claimed bss or damage,other than the paymeMS required to be made,shall terminate,including any liability or obligatian to defend,prosecute,or continue arry liugation. 8.DETERMINATION AND EXTENT OF LIABILITY Tfxs palicy is a corrcract of indemnity against xWal monetary bss or damage wstained or incurred by the Inwred Claimarrc who has wffered loss or damge by reason of matters inwred against by Uus policy. (a)The extent of liabi6ty of the Compa�ry fa loss or damage under this policy shall not exceed the least of n the Amount of Insurance, (n)the Indebtedness, (i)the difference between the value of the TiUe as insured and the value of the TiUe subject to the risk inwred against by this polky,or (rv)rf a goverrnnerrt agency or inswmerrtality is the Insured qaimarrt,the amount it paid in tfre acquisition of the TiUe ar the Inwred Mortgage in satisfaction of its inwrance contrac[a guaranty. @)If the Comparry purwes its righu under Sectiian 5 of these Corditiom and is unsuccessful in estadishirg the TiUe or the lien of the Insured Mortgage,as insured, �the Amount of I�urance shaA be increased by 10%,and �i)the Insured ClaimaM shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured qaimant a az of the date it is setUed ard paid. (c)In the event the Insured has acquired the TiUe in the maro�er described in Sectian 2 of these Conditimis or has comeyed the TiUe,then the extmt of liability of the Compa�ry shall condnue as set farth in SecUon 8(a)of these Condiaons. (�In addition to the exteM of liability urxler(a),(b),and(c),the Comparry wiA atso pay those costs,attomeys'fees,and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9.LIMITATION OF LIABILITY (a)If the Comparry estaNishes the TiUe,or removes the alle�d defect,tien,or encumbrance,or cures the lack of a ri�t of access to or from the Land,or cures the claim of Unmarketable TiUe,a establishcs the lien of the Insured Mortgage,aH as insured,in a reasonaMy diligent mar�er by any method,induding litigadon and the campletion of any appeals,it shall have fully perfamed its odigations with respect to that matter a�d shall nat be liable for any loss or damage caused to the Insured. (b)In the eveM of a�ry Gtigation,inGwGng fitigation by the Compairy or with the Comparry's caisent,the Comparry shaB have no liability for loss or damage until there has been a final detemdnation by a court of competentjurisdicUOn,and disposition of all appeals,adverse to the TiUe ar to the lien of the Inwred Mortgage,as insured. (c)The Company shaA not be fiable fa bss or damage[o the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. AL.CH1.06.4 Cover Page 4 of 5 10.REDUCTION OF INSURANCE;REDUCTION OR TERMINATION OF LIABILITY (a)AB payments under ihis pdicy,except payments made far costs,attomeys'fees,and e�enses,shal reduce the Amowrc of Inwrance by the amouM of the payment. However,arry payments made prior to the acquisition of Title as provided in$ection 2 of these Ca�d6ans shaq rat reduce the Amount of Insurance afforded under this poliry except to the exterrc that the payments reduce the Indebtedness. (b)The volumary sadsfaction or rdease of the I�ured Mortgage shap cerminate all liability af the Compa�ry except as provided in Section 2 of these Conditio�. 11.PAYMENT OF LOSS When IiabiFty and the extent of loss or damge have been defiritely fixed in accordance with these CoMiitions,the paym�m shall be made wiUin 30 days. 12 RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT (a)The Comparry's Right to Recover Whenever the Company shall have settled and paid a claim under this policy,it shall be wbrogated and entiUed to the rights of the Insured Claimant in the TiUe a Insured Martgage and all otF�er righu ard rernedies in respect to the daim that the Insured ClaimaM has agai�xt airy person or property,to the extent of the amour�t of any loss,costs, attomeys'fees,and e�enses paid by Ne Compa�ry.If requested by the Company,the Insured Claimant shall execute dceuments to e�ridence the Vansfer to the Comparry of these rights and raar�edies.The Insured Claimarrc shall pemrit the Company to we,compramise,or setUe in the name of the Insured Claimam and to use ihe name of the Inwred ClaimaM in any Vansaction ar litigation irrvohring these rights and remedies. If a payment on aaoimt of a daim does not fully cover the loss of the Insured Claimant,the Comparry sha11 defer the exercise of its right to recover until after the Insured Claimarrc shall have recovered its loss. @)The I�ured's Rights and Limitations n ihe owner of the Indebtedr�ess may release or substitute tlie perwnal liability of any debta or guararrcor,extend or otherwise modify the terms af payment,release a portion of the TiUe from the lien of the Insured Mortgage,or release arry cdlateral security for the Indebtedness,if it does not affect the er�forceability or priority of the lien of the Insured Martgage. n If the Inwred exercises a right provided in @)(�,but has Knowledge of arry claim adverse to the Trtle or the lien of the Insured Mortgage insured against by this policy, the Company sh�l be required to pay only that part of any bsses insured against by this poficy that shall exceed the amount,if any,lost to the Comparry by reason of the impaim�eM by the Insured Cl�mant of the Company's rigM of wbrogation. (c)The Campany's Rights Against Nori�ured Obligors The Compairy's rigM of subrogation indudes the Inwred's rights against narinsured odigors including the rigMs of the Insured to indemnities,guaranties, other policies of imurance,or bonds,notwithstanding arry terms or caMitions contained m those insVUmmu that address subrogation rights. ihe Company's right of subrogation shall rat be avoided by acquisition of the Insured Mortgage by an obligor(except an obligar described in Section 1(e)()(�of these Conditions) who acquires the Inwred Mortgage as a result of an indemnity,guazantee,ott�er policy of insurance,or bond,and the obligor will rat be an Insured under this policy. 13.ARBITRATION Either the Comparry or the Inwred may demand that the claim or caitroversy shall be submitted ro arbiVation pursuant to the TiUe Insurance ArbiVation Rules of the American Land TiUe Association("Rules'�.Except as provided in the Rules,there shall be no joinder or consolidaUon with claims or conVOVersies of ather persons. ArbiVable matters may include,but are not limited to,any conVOVersy ar claim between the Company and the Insured arising out of or relating to this policy,any service in connection with iis issuance a the breach of a policy provision,or to airy other corrcroversy or claim arising out of the Vansaction giving rise to this policy.All arbiVable matters when the Amount of I�urance is$2,000,000 or less shall be arbiVated at the option of eiU�er the Company or the Insured.All arbi[rable matters when tlie Amount of Inwrance is in excess of$2,000,000 shall be arbiVated onty when a�eed to by both the Company and the Inwred.ArbiVa6on pursuant to this policy and uider the Rules shall De birding upon the parties.ludgment upon the rendered by the ArbiVator(s)may be entered in arry court of competent jurisdiction. 14.LIABILITY LIMITED TO THIS POLICY;POLICY ENTIRE CONTRACT (a)This policy together with all endorsements,'rf any,attached to it by the Company is the entire pdicy and contract between the Insured arM the Company.In irrterpreting any provision of this policy,Uiis policy shall be conswed as a whole. @)My claim of loss or damage that arises out of the status of the TiUe or lien of the Insured Mortgage or by any action asserting wch claim shall be resVicted to this policy. (c)My amendmerrc of or endorsement to Uiis pdicy must be in writing and authenticated by an authorized person,or expressly incorporated by Schedule A of this policy. (�Exh endorsemc�nt m this policy issued at any time is made a part of this policy and is wbject to all of its terms and provisions.Except as the endorsement expessly states,if does not()modify arry of the tertns and provisans of the palicy,(n�modify arry prior endorsemcm,(ii)extend the Date of Pdicy,or(rv) inaease the Amount of Insurarice. 15.SEVERABILITY In U�e evmt arry provision of this policy,in whole ar in part,is held irrvalid ar unenforceabk under applicable law,the poRcy shall be deemed not to include that provision a such part held to be inva6d,but all other provisions shaq remain in full force and effect. 16.CHOICE OF LAW;FORUM (a)Chace of Law:The Inwred acknouvkdges the Canparry has wderwritcen Ure risks covered by this poliry ard determined the premium charged therefor in reliance upon the law affeciing interests in real property and applicable to the interpretation,rigMs,reme�es,or enforcemenu of poficies of tiUe insurance of the jurisdiction where the land is located. Tl�erefare,the court or an arbiVator shall apply the law of the jurisdicdon where the Land is lowted to determine the validity of daims against the TiUe ar the Gen of the Insured Mortgage that are adverse to the Insured and to irrterpret and enforce the tertns of this policy.In rreither case shall the court w arbiVator apply its coMRcu of law principals ro determine the applicable law. �)Chace of Forum:Arry litigation a other proceeding brougM by the Insured agai�t the Company must be filed onty in a state or federal court witttin the United States of Ameriw a its territories havirg appropriatejwisdiction. 17.NOTICES,WHERE SENT My rwtice of daim and arry other notice ar statemmt in writing requ�ed to be given to the Comparry under this pdicy must be qven to the Compairy at: Chicago Title I�urance Company,Attn:Gaims Department,P.O.Box 45023,Jacksornille,Florida 32232-5023. AL.CHI.06.5 Cmer Page 5 of 5 LTG Policy No. CTEJ50028327 Form AL/CHI Chicago Policy No. 72307-81272398 Our Order No. VTF50028327 Amount $3,575,000.00 Schedule A Property Address: 600 VAIL VALLEY DRIVE AKA UNIT F-4, BLDG F NORTHWOOD CONDOS VAIL CO 81657 1. Policy Date: July 16, 2010 at 5:00 P.M. 2. Name of Insured: BANK OF AMERICA, N.A., AND/OR ITS ASSIGNS, AS THEIR INTEREST MAY APPEAR 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. Tide to the estate or interest covered by this policy at the date hereof is vested in: F8CORP LLC, A COLORADO LIMITED LIABILITY COMPANY 5. The mortgage, herein referred to as the insured mortgage, and the assignments thereof, if any are described as follows: DEED OF TRUST DATED JULY 12, 2010, FROM F8CORP 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$3,575,000.00 RECORDED JULY 16, 2010, UNDER RECEPTION NO. 201014096. 6. The Land referred to in this policy is described as follows: CONDOMINIUM UNIT F-4, BUILDING F, NORTHWOODS CONDOMINIUM, ACCORDING TO THE SECOND AMENDED CONDOMINIUM MAP THEREOF, RECORDED DECEMBER 28, 2007, IN THE RECORDS OF THE CLERK AND RECORDER OF EAGLE COUNTY, COLORADO UNDER RECEPTION NO. 200733597 AND AS DEFINED IN THE CONDOMINIUM DECLARATION RECORDED DECEMBER 23, 1975 IN BOOK 243 AT PAGE 810 OF SUCH RECORDS, AS AMENDED, COUNTY OF EAGLE, STATE OF COLORADO. This Policy Valid only if Schedule B is attached. Land Tifle Guarantee Company Representing Chicago Tide Insurance Company I� Form AL/CHI LTG Policy No. CTEJ50028327 Chicago Policy No. 72307-81272398 Our Order No. VTF50028327 Schedule B -I 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. Any facts, rights, interests, or claims thereof, not shown by the Public Records but that could be ascertained by an inspection of the Land of that may asserted by persons in possession of the Land. 2. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 3• Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Tifle that would be disclosed by an accurate and complete land survey of the Land and 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. (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. 6. TAXES AND ASSESSMENTS FOR THE YEAR 2010 AND SUBSEQUENT YEARS. 7• RIGHT OF THE PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM, SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES HEREBY GRANTED,AND A RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES, AS RESERVED IN UNITED STATES PATENT RECORDED MAY 20, 1905 IN BOOK 48 AT PAGE 511. 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 DECEMBER 17, 1965, IN BOOK 187 AT PAGE 515. 9. CROSS EASEMENT AGREEMENT DATED AUGUST 21, 1974 BETWEEN VAIL ASSOCIATES, INC., A COLORADO CORPORATION AND VAIL METROPOLITAN RECREATION DISTRICT RECORDED DECEMBER 23, 1975 IN BOOK 243 AT PAGE 809, AS IT MAY AFFECT A PORTION OF SUBJECT PROPERTY. 10. EASEMENT AND RIGHT OF WAY FOR ELECTRIC LINES PURPOSES GRANTED TO HOLY CROSS ELECTRIC ASSOCIATION, BY VAIL ASSOCIATES, INC., A COLORADO CORPORATION AND � LTG Policy No. CTEJ50028327 Form AL/CHI Chicago Policy No. 72307-81272398 Our Order No. VTF50028327 Schedule B -I NORTHWOODS CONDOMINIUM ASSOCITATION, A COLORADO NON-PROFIT CORPORATION BY INSTRUMENT RECORDED MAY 9, 1979 IN BOOK 285 AT PAGE 253. 11. DECLARATION OF COVENANTS, CONDITIONS, EASEMENTS AND RESTRICTIONS, 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 MARCH 10, 2006, UNDER RECEPTION NO. 200606086. 12. PERPETUAL EXCLUSNE EASEMENT DEED RECORDED MARCH 10, 2006 UNDER RECEPTION NO. 200606088 AND UNDER RECEPTION NO. 200606087. 13. TERMS, CONDITIONS AND PROVISIONS OF ENCROACHMENT AGREEMENT RECORDED APRIL 11, 2007 AT RECEPTION N0. 200709376. 14. THOSE PROVISIONS, COVENANTS AND CONDITIONS, EASEMENTS AND RESTRICTIONS, WHICH ARE A BURDEN TO THE CONDOMINIUM iJNIT DESCRIBED IN SCHEDULE A, 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 DECEMBER 23, 1975, IN BOOK 243 AT PAGE 810, FIRST SUPPLEMENT RECORDED FEBRUARY 16, 1977 IN BOOK 252 AT PAGE 581, SECOND SUPPLEMENT RECORDED DECEMBER 6, 1977 IN BOOK 263 AT PAGE 304, THIRD SUPPLEMENT RECORDED MARCH 14, 1979 IN BOOK 282 AT PAGE AND FOURTH SUPPLEMENT RECORDED DECEMBER 13, 1979 IN BOOK 295 AT PAGE 904 AND RESOLUTION RECORDED SEPTEMBER 23, 2004 UNDER RECEPTION NO. 892001. 15. EASEMENTS, COVENANTS, CONDITIONS AND RESTRICTIONS, RESERVATIONS AND NOTES AS SHOWN OR RESERVED ON THE CONDOMINIUM MAP OF NORTHWOODS CONDOMINIUMS DECEMBER 23, 1975 IN BOOK 243 AT PAGE 811 AND AMENDED CONDOMINIUM MAP RECORDED SEPTEMBER 23, 2004 UNDER RECEPTION NO. 892002 AND SECOND AMENDED CONDOMINIUM MAP RECORDED DECEMBER 28, 2007 UNDER RECEPTION NO. 200733597. ITEM NOS. 1 THROUGH 4 OF THE GENERAL EXCEPTIONS ARE HEREBY DELETED. Form AL/CHI LTG Policy No. CTEJ50028327 CLicago Policy No. 72307-81272398 Our Order No. VTF50028327 Schedule B -II In addition to the matters set forth in Part I of this Schedule, the title to the estate or interest in the land described or referred to in Schedule A is subject to the following matters, if any be shown, but the Company insures that the lien or charge of the insured mortgage upon said estate or interest is prior to such matters. NONE Land Title Guarantee Company Case VTF50028327 ENDORSEMENT ALTA 9 — 06 Policy CTEJ50028327 Loan # The Company insures the owner of the indebtedness secured hy the Insured Mortgage against loss or damage sustained by reason of: 1. The existence, at Date of Policy, of any of the following: (a) Covenants, conditions, or restrictions under which the Zien of the Insured Mortgage can be divested, subordinated, or extinguished, or its validity, priority, or enforceability impaired. (b) Unless expressly excepted in Schedule B (il Present violations on the Land of any enforceable covenants, conditions, or restrictions, and any existing improvements on the land described in Schedule A that violate any building setback Zines shown on a plat of suhdivision recorded or filed in the Public Records. (ii) Any instrument referred to in Schedule B as containing covenants, conditions, or restrictions on the Land that, in addition, (A) establishes an easement on the Land; (B) provides a lien for liquidated darnages; (C) provides for a private charge or assessment; (D) provides for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or occupant. (iii) Any encroachment of existing improvements located on the Land onto adjoining 1and, or any encroachment onto the Land of existing improvements located on adjoining Zand. (iv) Any encroachment of existing improvements located on the Land onto that portion of the Land subject to any easement excepted in Schedule B. (v) Any notices of violation of covenants, conditions, or restrictions relating to environmental protection recorded or filed in the Public Records. 2. Any future violation on the Land of any existing covenants, conditions, or restrictions occurring prior to the acquisition of Tit1e by the Insured, provided the violation results in: (a) the invalidity, Ioss of priority, or unenforceability of the lien of the Insured Mortgage; or (b) the Ioss of Title if the Insured shall acquire TitZe in satisfaction of the Indebtedness secured by the Insured Mortgage. 3. Dainage to existing improvements, including lawns, shrubbery, or trees (a) that are located on or encroach upon that portion of the Land subject to any easement excepted in ScheduZe B, which damage results from the exercise of the right to maintain the easement for the purpose for which is was qranted or reserved; � Page 1 of 2 � AMERICAN LAND TITLE :; Represer�ting Chicago Title Insurance Company "55°°'^T'°^ � ,� ; Land Title Guarantee Company Policy cTE.T50028327 ENDORSEMENT ALTA 9 - 06 (b) resulting from the future exercise of any right to use the surface of the Land for the extraction or development of minerals excepted from the description of the Land or excepted in Schedule B. 4• Any final court order or judgment requiring the rernoval from any land adjoining the Land of any encroachment excepted in Schedule B. 5. Any final court order or judqment denyinq the right to maintain any existing improvements on the Land because of any violation of covenants, conditions, or restrictions, or building setback lines shown on a plat of subdivision recorded or filed in the Public Records. Wherever in this endorsement the words "covenants, conditions, or restrictions" appear, they shall not he deemed to refer to or include the terms, covenants, conditions, or limitations contained in an instrument creating a lease. As used in paragraphs Z.b(i) and 5, the words "covenants, conditions, or restrictions" do not include any covenants, conditions, or restrictions (a) relating to obligations of any type to perform maintanance, repair, or remediation on the Land, or (b) pertaining to environiaental protection of any kind or nature, including hazardous or toxic matters, conditions, or sul�stances, except to the extent that a notice of a violation affecting the Land has .been recorded or filed in the Public Records at Date of Policy and is not excepted in Schedule B. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to a11 of the terms and provisions of the policy and of any prior endorsements. Paqe 2 of 2 Representing Chicago Title Insurance Company - � Land Title Guarantee Company ENDORSEMENT ALTA4 — 06 Case VTF50028327 CONDOMINIUM Policy CTEJ50028327 Loan # The company hereby insures against Ioss or damage sustained by the insured by reason of: (1) The failure of the unit identified in Schedule A and its common elements to he part of a condominium within the meaning of the condominium statutes of the jurisdiction in which the unit and its common elements are Zocated. (2) The failure of the documents required by said condominium statutes to comply with the requirements of statutes to the extent that such failure affects the Tit1e to the unit and its common elements. (3) Present violations of any restrictive covenants that restrict the use of the unit and its common elements and that are contained in the condominium documents or the forfeiture or reversion of Title by reason of any provision contained in the restrictive covenants. As used in this paragraph 3, the words "restrictive covenants" do not refer to or include any covenant, condition, or restriction (a) relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or (b) pertaining to enviornmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded in the I Public Records at Date of Policy and is not excepted in Schedule B. (4) The priority of any lien for charges and assessments at Date of Po1ic Y provided for in the condominium statutes and condominium documents over the lien of any Insured Mortgage identified in Schedule A. (5) The failure of the unit and its common elements to be entitled by Zaw to be assessed for real property taxes as a separate parce.Z. (6) Any obligation to remove any improvements that exist at Date of Policy because of any present encroachments or because of any future vnintentional encroachment of the common elements upon any unit or of any unit upon the common elements or another unit. (7) The failure of the Title by reason of a right of first refusal, to purchase the unit and its common elements that was exercised or could have been exercised at Date of Policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to a11 of the terms and provisions of the policy and of any prior endorsements. � AM f RI CAN LAN D TITLE Represer�ting Chicago Title Insurance Company ASSOCIATIOh Land Title Guarantee Company ENDORSEMENT ALTA 8.1 — 06 Case vTF50028327 ENVIRONMENTAL LIEN PROTECTION PoZicy CTEJ50028327 Loan # The Company insures the insured against loss or damage sustained by reason of lack of priority of the lien of the insured mortgaqe over: (a) any environmental protection Iien that, at Date of Policy, is recorded in those records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to reaZ property to purchasers for value and without knowledge, or is filed in the records of the clerk of the United States district court for the district in which the Land is located, except as set forth in Schedule B, or (b) any environmental protection lien provided by any state statute in effect at Date of Policy, except environmental protection liens provided by the following state statutes: None This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorseraent, this endorsement controls. Otherwise, this endorsement is sul�ject to a11 of the terms and provisions of this policy and of any prior endorsements. � � AMERICAN LAND TITLE Representing Chicago Title Insurance Company "SS°�'"T'°" :` LAND TITLE GUARANTEE COMPANY ENDORSEMENT 103.1 - 06 Case VTF'S0028327 Policy CTEJ50028327 Loan # The Company hereby insures the owner of the Indebtedness secured hy the Mortgage referred to in paraqraph 5 of Schedule A against loss resultinq from the following: 1. Damaqe to the existing improvements, includinq lawns, shrubbery and trees on the Land; 2. Interference with the continuing use, as presently utilized, of the existing improvements on the Land and future improvements on the Land Occasioned by the exercise of the right to use or maintain the easement referred to in paragraph (s) 7 of Schedule B. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount � of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to a11 of the terms and provisions of the policy and of any prior endorsements. Represer�ting Chicago Title Insurance Company