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Home My WebLink AboutSTATEMENT OF SETTLEMENTLand Title GUARANTEE COMPANY 3033 East First Avenue Suite 600 Denver, Colorado 80206 303 - 321 -1880 Fax 303 - 322 -7603 June 29, 2011 Sentry Construction, Inc. Michael D. Young 2187 Atlantic Street Stamford, Connecticut 06902 Re: The Ridge at Vail Townhomes Ratification of Amended Final Plat Dear Mr. Young: Some months ago the Eagle County Assessor advised Land Title Guarantee Company ( "Land Title ") that there appeared to be an error in the recording of the Amended Final Plat for the Ridge at Vail (the "Plat "). On checking the county real estate records we ascertained that the Plat should have included (1) the property owned by the The Ridge at Vail Townhomes Association, and (2) the undivided appurtenant interests of each owner in the common lots known as Lots 5E, 5F and 5L. At the same time we ascertained that the legal description in the deed from you and Sentry Construction, Inc. to DBCAJT LLC, a Delaware limited liability company was based on the Plat. This Plat adjusted the boundaries between Lot 1 Cliffside and Lot 5D The Ridge at Vail creating a small portion of the Lot 1 Cliffside, as it existed prior to the recording of the Plat, still vested in your names. The purpose of the enclosed Bargain and Sale Deed is to convey record ownership of this small portion to The Ridge at Vail Townhomes Association confirming that it is the record owner to all of Lot 5D according to the Plat. We also enclose a copy of the Plat for your reference. Land Title has been working with Dan Woolf, Esq., an attorney in Vail who has also represented the The Ridge at Vail Townhomes Association. He has prepared on behalf of Land Title the necessary documentation to correct the problem with the Plat and to meet the requirements of the County Assessor. After your review, please execute the documents where shown and return them to Land Title. A postage -paid, self - addressed envelope has been included for your convenience. If you have any questions, please do not hesitate to contact me at the email address or phone number given below. Sincerely, Karen Bigg Assistant Vice President Land Title Guarantee Company 610 W. Lionshead Circle, Suite 200 Vail, CO 81657 Enclosures LAND TITLE GUARANTEE COMPANY 0090 BENCHMARK RD #205 11 PO BOX 3480 AVON CO 81620 STATEMENT OF SETTLEMENT Land Title Phone: 970 - 949 -5099 "SELLERS" M ANTU COMPANY Fax: 866 - 358 -663 www.trcc. cox PROPERTY ADDRESS: 1452 BUFFEHR CREEK ROAD AKA LOT 1 CLIFFSIDE VAIL CO 81657 SELLER(S): MICHAEL D. YOUNG AND SENTRY CONSTRUCTION, INC., AN ILLINOIS CORPORATION BUYER(S): DBCAJT LLC, A DELAWARE LIMITED LIABILITY COMPANY SETTLEMENT DATE: December 21, 2010 DATE OF PRORATION: December 21, 2010 Debit Credit rT d M DESCRIPTION 000 000.00 Sales Price 2,069,646.92 payoff to BA1VK OF AMERICA Title Insurance ALTA Owner's P licy LAND TITLE 7,192.00 GUARANTEE COMPANY 1075.00 Endorsements 103.1&, DELETION4, DELETION 1 -3 150.00 Additional Chain LAND TITLE GUARANTEE COMPANY 25.00 Release Trackinc Fee LAND TITLE GUARANTEE COMPANY 2100 Record RECORD AGREEMENT O 33.00 Record MISC RECORDING FROM 12/2 /10 F7 Rns4F�� 01 /01/10 to 12121/10 11 401.28 $32.2069/da Listin A ent Commission SLIFER SMITH & 262,500.00 Selling Agent COmn15510n t��tJci� 1 , �. 2b2'nuu.vu INTERNATIONAL REALTY 6,000.00 Credit From Listin A gent ADVERTISING CREDIT 175.00 Closing Fee LAND TITLE GUARANTEE COMPANY 50.00 . - ..........T.. n -TT nv DUES OWING THE RDGE AT VA IL HUA 300.00 Water & Sewer Escrow EAGLE RIVER WATER &SANITATION 44 t�CR Taxes 50/ T10 000.00 W FOR MISCL TOWARDS PURCHASE OF ARRABELLE MEMBERSHIP - -- _ - _ A 4na nn0_a0 * * ** SubTotals * ** 6,085,700.51 Due To Seller _ a gnF_o00A0 2010 TAXES BASED ON 2009 MILL LEVY AND 2010 ASSESSED VALUE = $11,755.54 RENTS AND /OR SECURITY DEPOSITS IF APPLICABLE TO BE SETTLED BETWEEN BUYER AND SELLER OUTSIDE OF CLOSING. RIDGE AT VAILASSOCIATION DUES ARE BEING PAID CURRENT BY SELLER BUYER IS RESPONSIBLE FOR DUES AFTER THE CLOSING DATE. CL IFFSIDEASSOCIATION DUES SHALL HANDLED OUTSIDE OF CLOSING. BUYER SHALL PAY $75,000 TO SELLER FO fig ur BIL OF S ALE sales TTEMS use AND WILL BE ANDLED OUTSIDE OF CLOSING. The above AND ACCEPTED Form 13132 06/2008 42. V50030050 {10818750} SELLER(S): MI AE • D. YOUNG SENTRY CONSTRUCTION INC., AN ILLINOIS CORPORATION MICHAEL D. YOUNG, PRESIDENT Form 13132 06/2008 Itg2.oc.odt z i ,., -:.... . �. . LAND TfIlE CL THR N KUCHLER V50030050 {108187501